Iraq Economists call for financial transparency law to be passed in 2011 with the balance ...

[SteveI]

Iraq Economists call for financial transparency law to be passed in 2011 with the balance ...

04/11/2010

Economists call for financial transparency law passed in 2011 with the balance

Baghdad, Economists called the Iraqi government to pass a law of financial transparency with the file offset 2011 in order to reduce the manipulation of public money.

And said an economic expert Mikdadi Fatima Ali told the Kurdish news agency (Rn) that "the Iraqi Finance Ministry by the provision of the law of financial transparency with the budget in 2011 to the Iraqi parliament to study it and then passed to the follow-up of funds at its disposal the financial ministries and governmental bodies."

She explained that "the international economic system confirms that the budget for 2011 is identical to the terms of the global economic unless accompanied by the law of financial transparency during this year," noting that "the budgets of Iraq in previous years, lacks the foundations of exchange restrictions the financial world as it was not attached to the law of transparency of financial that saves money year manipulations of government officials in it. "

The report of the International Partnership Budget called Iraq on 28 October that he "failed to achieve basic standards of transparency and accountability of the national budgets."

On the other hand said the financial expert for the full OS Kurdistan News Agency (Rn) "The Iraqi government has to strive to provide accurate protection appropriate to protect the infusion of public money and tampering by government officials which Iraq lost a lot of money."

"I imagine that the nature of the financial system in Iraq needs to review the real exchange rate, especially in terms of both its operational budgets, and complementary," noting that "the Ministry of Finance in the deployment strategy of the budget of any paper before preparation of the budget in its final form and presented to the Cabinet."

He called the Iraqi Central Bank Board of Supreme Audit systematic scrutiny in the financial budgets for previous years.

And usually sees the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the large number of objections and criticisms on some of its clauses, most notably the aspects of exchange and the financial allocations for some government institutions and the presidencies of the three

As member of the organization said, "Economists" Sana Jabri's (Rn) "The 2011 budget assumes that government ministries to submit a monthly report to the Council of the Prime Minister on the financial expenses."

She pointed out that "the Ministry of Finance in the preparation of the budget and the details is that a government committee on the economy and Graduate membership of the CBI, the Board of financial oversight mechanism to oversee the investment of the funds the budget."

She added that "progress the Iraqi economic system based on structural capacity and staffing to offset the country's financial, especially in recent years with the accurate disclosure of the end of each fiscal year for expenses."

The Council postponed the prime minister to discuss the budget in 2011 to an undisclosed time, in order to address the problem of the difference between the price of oil and oil ministries of finance ministries.

According to the Financial Administration Act, No. 95 of 2004, the government should prepare a budget for the following year, in September of each year, in preparation for discussion at the House of Representatives for approval.

The Iraqi Finance Ministry announced last month that the finalization of the draft budget for Iraq in 2011, and the new budget allocates a large share of investment, and to support the government's development strategy that will continue for the next four years.

The initial budget for Iraq in 2011 about 86 billion and $ 400 million, assuming the price of oil is $ 70 per barrel, an increase of up to 14 billion dollars in the last budget.

Many feel that the delay in adoption of the budget would put the country in the midst of another crisis, will reflect negatively on service projects and investment in the country.

Revealed the Ministry of Finance reduced the gap in the cash budget in 2011 by 12% percent of the budget in 2010

Economists expect that the budget of 2011 would not address the inflation suffered by the Iraqi economy because of inflation the purchasing power of goods and imported goods as well as the absence of centralized economic decision in the country.

The Central Bank of Iraq announced a low rate of inflation in Iraq to 2.7%, which encouraged the launch of liquidity for banks by 5% of the existing legal cash reserve has, in order to expand lending operations and advancing the development.

Known that excessive inflation in the general level of prices and rising incomes in cash or a component of cash income such as wages or profits as well as high costs and excessive in the creation of cash balances.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.aknews.com/ar/aknews/3

[SteveI]

So what does this mean ?

I will send you a link in a few minutes that explains this. It is not a bad thing. God Bless until then.

[BIRDDOG]

Iraq Economists call for financial transparency law to be passed in 2011 with the balance ...



04/11/2010

Economists call for financial transparency law passed in 2011 with the balance

Baghdad, Economists called the Iraqi government to pass a law of financial transparency with the file offset 2011 in order to reduce the manipulation of public money.

And said an economic expert Mikdadi Fatima Ali told the Kurdish news agency (Rn) that "the Iraqi Finance Ministry by the provision of the law of financial transparency with the budget in 2011 to the Iraqi parliament to study it and then passed to the follow-up of funds at its disposal the financial ministries and governmental bodies."

She explained that "the international economic system confirms that the budget for 2011 is identical to the terms of the global economic unless accompanied by the law of financial transparency during this year," noting that "the budgets of Iraq in previous years, lacks the foundations of exchange restrictions the financial world as it was not attached to the law of transparency of financial that saves money year manipulations of government officials in it. "

The report of the International Partnership Budget called Iraq on 28 October that he "failed to achieve basic standards of transparency and accountability of the national budgets."

On the other hand said the financial expert for the full OS Kurdistan News Agency (Rn) "The Iraqi government has to strive to provide accurate protection appropriate to protect the infusion of public money and tampering by government officials which Iraq lost a lot of money."

"I imagine that the nature of the financial system in Iraq needs to review the real exchange rate, especially in terms of both its operational budgets, and complementary," noting that "the Ministry of Finance in the deployment strategy of the budget of any paper before preparation of the budget in its final form and presented to the Cabinet."

He called the Iraqi Central Bank Board of Supreme Audit systematic scrutiny in the financial budgets for previous years.

And usually sees the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the large number of objections and criticisms on some of its clauses, most notably the aspects of exchange and the financial allocations for some government institutions and the presidencies of the three

As member of the organization said, "Economists" Sana Jabri's (Rn) "The 2011 budget assumes that government ministries to submit a monthly report to the Council of the Prime Minister on the financial expenses."

She pointed out that "the Ministry of Finance in the preparation of the budget and the details is that a government committee on the economy and Graduate membership of the CBI, the Board of financial oversight mechanism to oversee the investment of the funds the budget."

She added that "progress the Iraqi economic system based on structural capacity and staffing to offset the country's financial, especially in recent years with the accurate disclosure of the end of each fiscal year for expenses."

The Council postponed the prime minister to discuss the budget in 2011 to an undisclosed time, in order to address the problem of the difference between the price of oil and oil ministries of finance ministries.

According to the Financial Administration Act, No. 95 of 2004, the government should prepare a budget for the following year, in September of each year, in preparation for discussion at the House of Representatives for approval.

The Iraqi Finance Ministry announced last month that the finalization of the draft budget for Iraq in 2011, and the new budget allocates a large share of investment, and to support the government's development strategy that will continue for the next four years.

The initial budget for Iraq in 2011 about 86 billion and $ 400 million, assuming the price of oil is $ 70 per barrel, an increase of up to 14 billion dollars in the last budget.

Many feel that the delay in adoption of the budget would put the country in the midst of another crisis, will reflect negatively on service projects and investment in the country.

Revealed the Ministry of Finance reduced the gap in the cash budget in 2011 by 12% percent of the budget in 2010

Economists expect that the budget of 2011 would not address the inflation suffered by the Iraqi economy because of inflation the purchasing power of goods and imported goods as well as the absence of centralized economic decision in the country.

The Central Bank of Iraq announced a low rate of inflation in Iraq to 2.7%, which encouraged the launch of liquidity for banks by 5% of the existing legal cash reserve has, in order to expand lending operations and advancing the development.

Known that excessive inflation in the general level of prices and rising incomes in cash or a component of cash income such as wages or profits as well as high costs and excessive in the creation of cash balances.

http://translate.goo...com/ar/aknews/3

[METEMARLO]

how in the hell did the un and the us every allow these theiving dogs to do business without this law .oh of course those bastards are stealing too.

[SteveI]

I posted this article early this morning at 6:37 AM and had several people ask the very same thing. Thanks for posting again because maybe some can help to explain this. I just did not understand this one. God Bless.

Keep up the great work.

Edited November 5, 2010 by SteveI

[DTH]

It's called back room deals...