27/02/2012
Erbil, February 27 (Rn) - Undersecretary of the Ministry of Finance of Iraq, said on Monday that 25% of the increase in the price of oil to be distributed to Iraqi citizens, will take place during the month of June next, indicating that the distribution process will be through agents distribution of food.
The Iraqi Council of Representatives has approved on Thursday (2/23/2012), the country's budget for the year 2012 the value was 117 trillion Iraqi dinars (about U.S. $ 100 billion), based on an average oil price of $ 85 a barrel and an average crude exports of 2.6 million barrels per day, after a delay of weeks because of disagreements on how it was spent, which is usually accompanied by the adoption of state budget finances.
The agent said the Iraqi Finance Ministry, Fadel prophet, told the Kurdish news agency (Rn) that "the country's budget for 2012 includes the distribution of 25% of the increase in oil revenues to Iraqi citizens, but can not the Ministry of Finance announced the amount of those sums now, because this depends on the oil prices, nor can be known only after the holy month of June next. "
He added that "It is not known yet whether or not funds will be increased, if increased, the best mechanism is the repetition of past experience when the distribution of compensatory payments for food rations to citizens, through agents of food."
And on the allocation of $ trillion Iraqi dinars to compensate those affected by the previous regime, said the Prophet that "this article were not present within the budget bill, but added to it by the Council of Ministers, so you're not familiar with the details yet, because they were not up to the ministry."
The draft budget law, a provision on the distribution of 25% of the increase in the price of oil, in case of skipping price of a barrel of oil barrier of U.S. $ 85 (current price is $ 120), the Iraqi citizens.
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The Iraqi Council of Representatives has approved on Thursday (2/23/2012), the country's budget for the year 2012 the value was 117 trillion Iraqi dinars (about U.S. $ 100 billion), based on an average oil price of $ 85 a barrel and an average crude exports of 2.6 million barrels per day, after a delay of weeks because of disagreements on how it was spent, which is usually accompanied by the adoption of state budget finances.The agent said the Iraqi Finance Ministry, Fadel prophet, told the Kurdish news agency (Rn) that "the country's budget for 2012 includes the distribution of 25% of the increase in oil revenues to Iraqi citizens, but can not the Ministry of Finance announced the amount of those sums now, because this depends on the oil prices, nor can be known only after the holy month of June next. "
He added that "It is not known yet whether or not funds will be increased, if increased, the best mechanism is the repetition of past experience when the distribution of compensatory payments for food rations to citizens, through agents of food."
And on the allocation of $ trillion Iraqi dinars to compensate those affected by the previous regime, said the Prophet that "this article were not present within the budget bill, but added to it by the Council of Ministers, so you're not familiar with the details yet, because they were not up to the ministry."
The draft budget law, a provision on the distribution of 25% of the increase in the price of oil, in case of skipping price of a barrel of oil barrier of U.S. $ 85 (current price is $ 120), the Iraqi citizens.
Link
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