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According to experts the oil revenues are expected to rise to 134 060 850 billion dinars within. With all this going on the production of oil export is also expected to increase in the coming two years and the increase in production and the export of the crude oil is also expected to go up from 2.9 million barrels to 4.65 million barrels by 2016.

The Member of Parliament for the Liberal bloc, Magda al-Tamimi said that "among the definitions section (2) of the Financial Administration Act and the Public Debt No. 95 of 2004 amended there is a clause stating that the budget allocation is the legal authority granted to the government to spend public money during the fiscal year for the purposes of specific.

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.

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 government of Iraq has been getting the support of international organizations in setting up the new policies, which could help Iraq to meet its economic challenges. The IMF is helping Iraq a lot in medium term economic reform program. This program will help the Iraq to improve its fiscal sustainability, and this will lead to the economic development for Iraq.

Now the most important challenge for the Iraq is to look into the matter of Macro Economic Stability, and for this planned expenditures needs to be cut down, while preserving the key social needs and spending. Iraq needs to manage its large oil reserves, rising oil revenues by building up the fiscal, financial and external buffers.

The new members of the parliament failed to manage the legislative acts the way they should have. The Baghdad Provincial Council was asked to bring forward the General Budget Law and to have it dispersed to the regarding institutes before the end of the fiscal year.