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The budget deficit of the year would reach 87 trillion dinars which would be quite high. The government has already planned for the deficit and has put aside 55 trillion dollars for it to facilitate the public by trying not to increase the prices of the daily usage things.

A member of the Finance Committee in the House of Representatives Najeebeh Najib, said that the budget deficit for the fiscal year is not physically present, indicating that the planned deficit is limited to theory and not in practice.

The budget not appearing causes a lot of trouble for the different people not matter what country it is and for a struggling country like Iraq; it is a big thing. The cabinet decided to cut down on some expenses but it is not easy because it is important to spend money especially in the pumping of oil. The issues have risen within the country itself due to the budget and the Kurdistan region is quite disturbed.

Iraqi Dinar 123 News:- The governor of Diyala province said that the Diyala budget is not enough to support running development projects of the province. Iraq allocated 326 billion Iraqi dinars to the province in the budget.

The government will be torn where will face two problems at one time two delay in approving the budget in the House of Representatives and how to bridge the deficit, which will create cover the costs of retirees and prisoners Rafha and amounts of petro-five dollars.

The increasing deficit of the general federal budget to more than 35 billion dollars will play objection large and categorical rejection by the International Monetary Fund and the World Bank, because it will lead to problems of economic and financial in the country and perhaps affect the market becomes faulty and conflicts between fiscal and monetary policy of the country.

According to the Iraqi press, Speaker, Saleem al Jubouri announced on Tuesday to hold a special session of the parliament, Thursday, it was also discussed the draft budget bill, its affects, its implications on the year of 2015. Jubouri said the reporters that their announcements of the cabinet vote on the budget without the deficit.

Iraqi prime Minister admitted that there is a financial problem for the year of 2015 as there is a consistent oil fall in prices and this is creating the deficit of finances in the Iraq for budget as well, with this problems, there are chances that this problem may extend till 2016 as well.