Finance Committee: We are working to reduce the rate of inflation in the budget

[Carrello]

Finance Committee: We are working to reduce the rate of inflation in the budget

Mon 01/30/2012

Baghdad

Revealed the Finance Committee in the House of Representatives for its work in reducing inflation in the budget in 2012, which is valued at 10 trillion dinars, by expanding the participation of investment at the expense of operating expenses.

A member of the Finance Committee in the House of Representatives, according to Najib Najiba (Rn) that "The Finance Committee is working to expand the options of inflation in the budget in 2012 through work on the grant of gravity of the investment projects at the expense of operational projects and reduce the excess of government expenditures."

She added that "inflation could reach attributed to the 20 trillion dinars, and can be addressed through the implementation of the investment plan accurately on the ground," indicating that "the investment projects is the only solution to reduce costs through a program of ambitious investment is working to complete the government during the budget year 2012." Najib said and continued "The Finance Committee will approve the draft budget in 2012 to activate the private sector and regulate the entry of foreign industries and not to allow goods that can be manufactured within the country.

The country has a political crisis triggered by the Iraqi judiciary, days after the U.S. withdrawal, when it issued an arrest warrant for Vice President Tareq al-Hashemi, on charges related to leadership involvement in death squads and cooperation with "terrorism" in addition to al-Maliki sought to isolate his deputy, Saleh al-Mutlaq. And raise the House of Representatives during the last weeks of its more than once to a lack of quorum due to the continuing its boycott by the members of the Iraqi List.

The central bank announced last Tuesday that the budget deficit in 2012 of 20 Trliuna ie 10% of the gross domestic product, adding that the budget deficit by default and can be treated through the stabilization of world oil prices and remain above $ 104.

And inflation is the excessive rise in the general level of prices, high cash income, as well as high costs and create excessive cash balances. It is expected to increase inflation in the budget in 2012 due to continued attention to the operational aspects at the expense of the investment part of the budget.

Announced that the Finance Committee representative Monday that Iraq will not need to borrow from the IMF, which is hoped to give Iraq $ 4 billion, while Iraq's cabinet approved in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).

http://www.almadapaper.net/

[GT ACE]

Now if they can only approve the 2012 budget by 2013!

[zigmeister]

Sounds good. Thanks for the post Ms. C.