Iraq News - Local News - Baghdadpost

Deficit in Iraq's 2019 budget estimated at $27.5 trillion

Iraq's parliament on Thursday finished the first reading of the draft of the budget for the fiscal year 2019, in the presence of 246 deputies and Electricity Minister Loay al-Khatib.

The revenues of the 2019 budget is estimated at about 150.6 trillion Iraqi dinars according to the estimated revenues from the export of crude oil on the basis of the rate of $56 per barrel, and an export rate of 3,880,000 barrels per day.

The estimated expenditures amount at about 133.1 trillion dinars, while the total deficit planned estimated at 27.5 trillion dollars.

During the session, the parliament, headed by Mohamed al-Halbousi, voted on the functions and competencies of the different parliamentary committees.

Khatib said that a plan has been prepared during the past 50 days including the agreements concluded with the banks, noting that the ministry is about to conclude agreements with the concerned authorities in the electricity sector in less than a month.

Khatib announced that the ministry during the first quarter of next year will develop the strategy and plan of the ministry for the year 2019-2020 as well as the development of energy plan to extend until 2030.
Last Modified: Friday، 21 December 2018 10:54 AM