Iraq’s Parliamentary Finance Committee held a meeting to discuss the federal budget for the fiscal year 2015 and find a way out of the economic crisis.

 

The Committee said that the country needs to sell 2.9 billion barrels of oil worth $40 per barrel to cover the salaries and pension, according to Finance Committee Chairman Ahmed Chalabi.

 

The total value of salaries and pensions amounts to IQD 51 trillion, he highlighted.


Moreover, Chalbi noted that IQD 31 trillion is allocated for security and defense. He added that that the Ministry of Oil requested IQD 14 trillion in the investment budget.


The Chairman said that the Commission will vote on the federal budget law draft on Thursday.