Parliamentarians: the Iraqi budget for 2011 of more than $ 86 billion and acknowledge

[carlablum]

Parliamentarians: the Iraqi budget for 2011 of more than $ 86 billion and acknowledge

Voice of Iraq) - 17/11/2010

(Voice of Iraq) - An expert of the Central Bank confirmed that the income account of the oil complex for several reasons

Baghdad: Nasir Ali

At a time in which it called economic institutions non-governmental organizations need to accelerate the adoption of the budget next year (2011 AD) and reducing operating expenses, leading to less value deficit, said Iraqi member of parliament for the Iraqi List, Osman Aljehici, that the political blocs agreed among themselves and during the meeting last Saturday Finish the formation of parliamentary committees and authorize the Finance Committee to study the budget next year for approval during the few weeks following the day of Eid al-Adha.

And has already announced that the Iraqi Finance Ministry to provide the completion of the budget next year of $ 86.4 billion dollars, which is higher than the current 14 billion dollars.

The Center for Economic Information in a statement obtained by «Middle East» a copy of it, that «while welcoming the Centre healing held the House of Representatives, the next task which is supposed to fall on his shoulder is the rapid formation of special committees to perform the tasks, including Economic Committee, which is their job to read the general budget and the preparation of the proposed amendments to its vocabulary, which has become necessary to put forward for discussion and approval in order to avoid delays in the budget last year, in addition to requiring the Ministry of Finance prepare a budget concluding after each fiscal year to clarify the magnitude of Almdorat financial and size of the actual expenditures and mechanisms to cover the budget deficit, the proper mechanisms to be followed in calculating the budget deficit to accurately estimate the real and objective .

He added: PCHR urges the Council to speed adoption of the budget, he appealed in the same time, further scrutiny of the items of expenditure, operational and trying to reduce operating expenses, including not affect the performance of State-General, to reach the lowest value deficit as possible in the budget, under the Declaration advance for the possible arrival of the budget deficit to 18 trillion dinars (more than 15 billion U.S. dollars) for the current year, despite predictions of growth of Iraq's oil exports, and thus the growth of revenues from oil sales. Detection and Undersecretary of the Ministry of Finance, the Iraqi Fadel, a prophet, in previous statements that his country «proposed budget for next year worth 86.4 billion dollars». He added that the Prophet «Iraq has proposed the initial draft budget for 2011 of $ 102 trillion dinars (86.4 billion dollars)» assuming global price of oil at $ 70 a barrel.

Iraq relies on oil revenues to finance about 95 per cent of its budget, and Iraq signed a member of the Organization of «OPEC» agreements with international oil companies could increase production capacity in as little as (6-7) years to 12 million barrels per day from 2.5 million barrels a day at the present time, which may make it a rival to Saudi Arabia, the largest producer of crude in the world. As far as assurances and Undersecretary of the Ministry of Finance «The budget currently before the Council of Ministers and will be submitted to parliament after the formation of committees».

For his part, MP for the Iraqi List, Dr. Osman Aljehici «Middle East» to «Adoption of the budget next year should have been recognized by a month from now, but the delay of its meetings and the crisis in the formation of the government prevented this, as everyone knows that the adoption of the budget requires study sufficient by the Finance Committee for amendment, additions and deletions, then read on first reading by the House of Representatives and again, and then voted upon, and these paragraphs certainly need for a time, and that is not owned by the new parliament ».

He also revealed that «all the groups had agreed at the last meeting on the importance of expediting the formation of commissions after the day of Eid al-Adha, and also send a letter from the House of Representatives to the Government requesting the removal of the budget to parliament for approval, and here is the budget of the priorities of our work now is of importance, and prevent the disruption of the wheel of the government all the citizens, noting that the delay in approving the budget in 2010, was due to intersections of the blocks because of the proximity between the elections and the government turned to the conduct of the business, and delayed negative impact on all aspects of the state, we do not want the ball back again ». Parliament passed in January (January) 2010 budget, which amounted to $ 72.4 billion deficit of $ 19.6 billion, assuming an oil price of $ 62.50 a barrel.

For his part, said an expert CBI appearance of Mohammed Saleh, told «Middle East» that «the subject of speculation Iraq's budget for next year a very complex issue, and adopt a number of scenarios, including expected daily average for the capital markets and oil markets, and prospects for the next stage was between (80-85 dollars) a barrel within a market (OPEC), and in Iraq less than a rate of $ 7 for the global market expectations ».

He pointed out that «Iraq's budget depends mainly basic on the sale of oil, that is, with one source, and last year was expected sale of 2.15 million barrels a day, and current rates of production are still low, and without two million for many reasons related to export and transmission lines, etc.».

And on exaggerated expectations next year budget, said the appearance: «There are two items in the budget, the two share operational and investment, and here we must think about how much we will be able to reduce in the first and lifting the second for the purposes of development and investment in particular, and we set the growth rate of 9.4, a rate that ambition is converging with the rate of China ».

The current government is also facing a wave of criticism over the failure to submit the final accounts of the budgets of government since 2005 and until now, there are claims to refer the subject for regulators and the judiciary, because these accounts must be discussed and ratified by Parliament. It also asked the Ministry of Electricity and the allocation of 7 trillion and 806 billion dinars (6.7 billion dollars), within the next year budget, to cover the expenses of the project, approved by the Government in the development of the electricity sector.

This was announced by Sri Musab, a teacher at the official spokesman for the ministry, adding that the Ministry of Planning has proposed the allocation of five trillion and 266 billion and 650 million Iraqi dinars ($ 4.5 billion) investment as a counterbalance to the Electricity Ministry, promised a big budget, compared to previous years. He emphasized that the amounts are insufficient to accomplish the investment projects of the Ministry, pointing out that there are amounts owed by the ministry, within the projects carried out during the current year and prior years, including two billion and 925 billion dinars from the treasury, and it must be returned to the state treasury in the next year, as that the ministry is obliged to pay other amounts due and payable in 2011.

http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http%3A%2F%2Fwww.sotaliraq.com%2Firaq-news.php%3Fid%3D11463

[jopy]

Has this information been talked about before???...or for that fact any of this post?

He also revealed that «all the groups had agreed at the last meeting on the importance of expediting the formation of commissions after the day of Eid al-Adha, and also send a letter from the House of Representatives to the Government requesting the removal of the budget to parliament for approval, and here is the budget of the priorities of our work now is of importance, and prevent the disruption of the wheel of the government all the citizens, noting that the delay in approving the budget in 2010, was due to intersections of the blocks because of the proximity between the elections and the government turned to the conduct of the business, and delayed negative impact on all aspects of the state, we do not want the ball back again ».

[kittycat]

As usual - Carlablum..........you always have GREAT post! Thanks for the information.

[brandedbabe]

Can someone read this sentence and explain if this is a slip of the tounge or maybe I'm grasping at straws...

He emphasized that the amounts are insufficient to accomplish the investment projects of the Ministry, pointing out that there are amounts owed by the ministry, within the projects carried out during the current year and prior years, including two billion and 925 billion dinars from the treasury, and it must be returned to the state treasury in the next year, as that the ministry is obliged to pay other amounts due and payable in

[MovieMaker]

Great post! thanks for your contribution.

[ECSxFenrir]

This does seem like a post full of info. Waiting for others to weigh in to see what it is saying laymans terms.

[JugDawg1]

I'm with ya on that one ECS. I guess we need someone to translate it into American.

Carla dear you are a beaut. Thank you so much.

Edited November 17, 2010 by JugDawg1

[SteveI]

Thank you. Great article.

God Bless and stay safe.

[JugDawg1]

Hey Steve. Get off that computer and take care of your wife and dog and go to bed.

[SteveI]

Hey Steve. Get off that computer and take care of your wife and dog and go to bed.

Wife and puppy sleeping, I have a couple minutes left. I promise to take your great sound advice in 5 minutes!

God Bless my friend.

[BtrFuture4All]

This does seem like a post full of info. Waiting for others to weigh in to see what it is saying laymans terms.

Me too, and the person I was hoping would weigh in is SteveI.

I'm with ya on that one ECS. I guess we need someone to translate it into American.

Carla dear you are a beaut. Thank you so much.

Thanks Carla for the post. Does contain a LOT of info that we need to understand in plain English.

Thank you. Great article.

God Bless and stay safe.

Now come on SteveI... I was expecting you to have a LOT to say on this one.

However, after reading JugDawg1's comment below, I agree with his recommendation.

More important things in life than the computer. Sleep on it and weigh in tomorrow.

Hey Steve. Get off that computer and take care of your wife and dog and go to bed.

[rick_jb]

I want to say thanks for the info Carlablum. GO RV

[brandedbabe]

Wife and puppy sleeping, I have a couple minutes left. I promise to take your great sound advice in 5 minutes!

God Bless my friend.

Hey Steve...I'm a big fan! Can you look at that last paragraph in this and tell me if that is our magic number 927 billion dinars. I'm thinking that is how much currency Iraq has out of their country and wants to draw back with the rv....if that's what I am seeing that is an unbelievable low amount compared to the 7 trillion number we have speculated.

Great artical by the way (+++++)

Edited November 17, 2010 by brandedbabe

[brandedbabe]

Hello.....any ideas peoples?

[ThankAVet]

Wife and puppy sleeping, I have a couple minutes left. I promise to take your great sound advice in 5 minutes!

God Bless my friend.

Steve, what's up? You headed out over to Iraq soon, or have you been able to secure the info you were looking for via email / phone?

Hey, what about that CC you guys talked about the other day? Any idea when it's taking place??

Steve, what's up? You headed out over to Iraq soon, or have you been able to secure the info you were looking for via email / phone?

Hey, what about that CC you guys talked about the other day? Any idea when it's taking place??

EDIT - answers here:

Edited November 17, 2010 by ThankAVet

[kamm]

Thanks for the post carla. Steve

[wouldchip]

And has already announced that the Iraqi Finance Ministry to provide the completion of the budget next year of $ 86.4 billion dollars, which is higher than the current 14 billion dollars. That's looks like a 72 Billion dollar difference to me. Wonder where thats going to come from.

[jopy]

And has already announced that the Iraqi Finance Ministry to provide the completion of the budget next year of $ 86.4 billion dollars, which is higher than the current 14 billion dollars. That's looks like a 72 Billion dollar difference to me. Wonder where thats going to come from.

No, that's 14B from last years budget. 2010 budget was 70.4B