According to the Ministry of Finance (Iraq), the Ministry of Oil is largely to blame for the deficit in the State’s budget. Although Iraq is not limited in quantities of exports, the Ministry of Oil has failed to increase exports.
Link to original story: http://www.khabaar.com/news.php?action=view&id=1762
Read the rest of the story for the translation.
“Led the Ministry of Finance and the Ministry of Oil for the state’s budget, accusing it of not being able to increase the quantities of exports, although Iraq is excluded from production quotas, leaving a shortfall of ten percent.
واوضحت الوزارة في بيان ان تقديرات وزارة النفط للكميات المصدرة حددت بمليوني برميل يوميا مشيرا الى ان وزارة النفط هي الجهة المسؤولة عن وضع تقديرات الكميات المصدرة. واضاف لكن وزارة النفط لم تتمكن ذلك وهذا النقص في الكميات المصدرة سبب عجزا في الموازنة مقداره عشرة بالمئة.وتابع ان وزارة النفط لم تتمكن مطلقا من الاستفادة من استثناء العراق من حصص انتاج النفط في منظمة اوبك. واعتبرت ان هذا الرقم لا يتناسب مع دول نفطية صغيرة بدات ابارها بالنضوب فالعراق يطفو على بحيرات النفط الخام. وقد اضطرت الحكومة الى تقليص حجم الموازنة العامة للسنة الحالية للمرة الثالثة في غضون ثلاثة اشهر نظرا للتدهور الحاصل في اسعار النفط الذي يشكل العائدات الرئيسية للعراق. The ministry said in a statement that the estimates of the Ministry of the quantities of oil-exporting two million barrels a day set, adding that the Oil Ministry is responsible for developing estimates of the quantities exported. “But the oil ministry had not been able so that the shortfall in the quantities exported in the cause of the budget deficit amounted to ten percent.” The The Ministry of Oil has not been able to take advantage of all of Iraq is excluded from the oil production quotas of the Organization of Petroleum Exporting Countries. It considered that this figure does not commensurate with the small oil wells began to dry, Iraq floats on lakes of crude oil. The government had to reduce the size of the public budget for the current year for the third time within three months because of the decline in oil prices, which is the main revenue for Iraq.”
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