Iraqi MP: 148 trillion dinars, the size of the 2020 budget … and $ 40 for a barrel of oil

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09 September 2020 12:30 AM

Mubasher: Deputy Muhammad Al-Darraji, a member of the Finance Committee in the Iraqi Parliament, revealed that the size of the 2020 budget is estimated at 148 trillion dinars and a specific oil price of $ 40 per barrel, while he warned of future bankruptcy in the event of reliance on borrowing.

Al-Darraji said to the “Al-Tenth” program, which is presented on Al-Iraqiya News Channel, today, Tuesday, that “the budget for 2020 will be complete and not for three months,” indicating that “its total value is estimated at 148 trillion dinars, and at a specific oil price of $ 40 a barrel,” according to the agency. Iraqi news (conscious).

He added, “The budget revenues are estimated at 67 trillion dinars,” stressing that “the budget will consist of salaries for employees and special operating expenses for the necessary government.”

He pointed out that “the House of Representatives will discuss the budget for the remaining three months of the current year,” attributing the reason for preparing a full budget to preparing final accounts for the fiscal year.

He stressed “the necessity of preparing final accounts for the years 2019 and 2020,” noting that “job grades have been transferred to the 2021 budget.”

He stressed that “the employees who were referred to retirement during the current year did not fill their job grades.”

And on borrowing, Al-Darraji explained, “borrowing is not in the interest of the Iraqi economy and relying on it may lead to bankruptcy in the future,” stressing that “Iraq’s foreign debts are estimated at 120 trillion dinars, except for war compensation, which is estimated at 40 trillion dinars.”

He pointed out that “his committee obligated the government to present the economic reform paper in exchange for borrowing,” noting that “there are several measures that can be taken to maximize revenues instead of resorting to borrowing.”

Regarding the hard currency auction, between Al-Darraji, that “the total of what was sold of dollars in the hard currency auction at the Central Bank for the period from 1/1/2020 to 1/9/2020 amounts to 27 billion dollars,” stressing the need to check the joint banks’ bills In a currency auction. ”

He pointed out that “the auction of selling the currency is not from the authority of the Central Bank, but from the responsibility of the government, and specifically the Ministry of Finance,” stressing that “the Central Bank Law does not include a sale of dollars.”

He continued, “There are political parties that have interests in the currency auction and do not want to cancel it.”

With regard to the elections, Darraji pointed out that “the upcoming elections will be pivotal in the history of Iraq,” noting that “in the event that the United Nations does not support the elections, their results will lose legitimacy.”

He explained, “The Electoral Commission Law allowed for the assistance of UN experts to conduct the elections.”


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