Iraqs Finance Committee warns oil revenue distribution to citizens will increase inflation

Posted by on Nov 21, 2013 | Leave a Comment

Baghdad (newsletter). The parliamentary Finance Committee warned of the proposed allocation of oil revenues to citizens, it would increase inflation in the country would affect the federal budget.

The Vice-Chairman of the Committee, said attorney Ahmed Faizullah (News Agency): the proposal made by some blocks distribution of part of the oil revenues to the budget will hurt people and the national economy by raising inflation rates in the country, so it would affect the value of the Iraqi dinar.

He added: we cannot distribute income in cash but can be distributed through the provision of services and projects beneficial to the citizens, and ration card items, stressing that the adoption of this proposal will create great economic disaster in the country.

The liberal parliamentary bloc said it would not vote on the federal budget in 2014 if the distribution of part of the oil revenues to citizens

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