Iraq News - Local News - Baghdadpost

2019 budget deficit rises to 113%: MP

The deficit in the 2019 federal budget jumped to 113 percent, MP Laila Mahdi al-Tamimi said on Friday, adding that the legislative and executive authorities have become the problem rather than solution.

Setting the oil price at $56 per barrel is not suitable as economic figures indicate a fall in prices, Tamimi said in a statement, noting that "the government is justifying [the deficit] by borrowing from domestic and foreign banks."

Tamimi added that the federal government's ministries have become the origin of the problem of problem, not the solution to the budget deficit," noting that decreasing medical expenses by 53 percent by 2018 is putting the lives of poor people in danger.

The Parliament finished the first and second readings of the draft of the new budget earlier in December. 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 bpd.

The estimated expenditures amount at about 133.1 trillion dinars, while the total deficit planned estimated at 27.5 trillion dollars.
Last Modified: Friday، 28 December 2018 09:48 PM