Parliamentarians: the Iraqi budget for the year 2011 more than 86 billion dollars and within weeks

[k98nights]

Parliamentarians: the Iraqi budget for the year 2011 more than 86 billion dollars and within weeks

Palm-at a time when, in which it called upon Non-governmental economic institutions of the need to speed up the adoption of the budget next year (2011)

And reduce operating expenses, leading to the deficit, according to a member of the Iraqi parliament for the Iraqi list Othman al-jhayshi, to the political blocs agreed with each other during the last Saturday to put an end to the formation of committees of the parliament and the finance committee to study next year's budget to be approved in a few weeks after the day of the Blessed feast of sacrifice.

Earlier, the Iraqi finance ministry announced انتهاءها to make next year's budget at a value of 86.4 billion dollars higher than that of the current at 14 billion dollars.

He said economic information centre in a statement that at a time when welcoming the centre بالتئام held the House of Representatives, the task ahead which is supposed to take place, it is to speed up the formation of the committees related to the performance of its tasks, including the economic committee, which have the task of reading the public budget and the proposed amendments to its terms, which it has been necessary to put forward for discussion and to avoid the delayed budget last year, in addition to requiring the Ministry of Finance to prepare a final budget after each financial year to clarify the المدورات financial and actual expenditures and mechanisms to cover the budget deficit, which is appropriate mechanisms should be followed in calculating the budget carefully to assess the genuine and substantive way.

He said: The centre as the council urges the speedy adoption of the budget, he appealed to at the same time for more scrutiny of the operational expenditure and reduce operating expenses, in a way that does not affect the performance of the year, to reach less than the value of the possible in the budget, in light of the pre-announcement of the possible arrival of the deficit in the budget of 18 trillion dinars, (more than 15 billion US dollars) for the current year, in spite of expectations growth of Iraq's oil exports, and the growth of revenues from oil sales. He said Iraqi Finance Ministry Undersecretary fadel prophet, in previous statements that his country " proposed budget for the coming year at a value of 86.4 billion dollars." The prophet said that "Iraq to put the draft initial budget for 2011 at a value of 102 trillion dinars (86.4 billion dollars)," on the assumption that international oil price at 70 dollars per barrel.

Iraq depends on oil revenues to finance about 95 per cent of its budget, and Iraq a member of the "OPEC" agreements with international oil companies could lift production capacity within the Inter-(6-7) years to 12 million barrels per day from 2.5 million barrels per day for the time being, which could make him a rival to Saudi Arabia, the biggest producer of crude in the world. According to assurances the undersecretary of the Ministry of Finance, "the budget currently before the Council of Ministers will be submitted to parliament after the formation of its functional commissions," he said.

For his part, said deputy of the Iraqi list, Dr. Othman al-jhayshi that the next year's budget would have to be approved by a month from now, but delay the convening of meetings and prevented the formation of the government, as we all know that the adoption of the budget requires a sufficient by the Finance Committee of the amendment and omissions, and read to the House of Representatives in the first and second, and then voting on it, which of course needs time, which is not owned by the new parliament.

He disclosed that all blocs agreed at the last meeting the importance of speeding up the formation of the committees after day of the feast of sacrifice, as well as to send a book from the House of Representatives to the government calling for the lifting of the budget to the parliament for confirmation, and here is the one of the priorities of our work now its importance, and the government everything related to the citizens, pointing out that the delay in the adoption of the 2010 budget, came as a result of the intersections with each other because of the proximity of the elections and the general conduct of the business of the government, وتاخرها a negative impact on all positions of the state, and we don't want the ball again.

Parliament approved in January (January) the budget for the year 2010, whose value amounted to 72.4 billion dollars with a deficit of 19.6 billion dollars, with the assumption of oil price of 62.50 dollars a barrel.

For his part, said the Central Bank of Iraq expert Mazhar Mohamed Saleh, in an interview to "Al-Sharq Al-Awsat" that " the subject of speculation Iraq budget for the coming year a very complex issue, and several scenarios, including daily expectations, as financial markets oil markets, global and expectations for the future were among (80, $85) a barrel in the (OPEC), in Iraq, at least at the rate of $7, the global market.

He pointed out that the balance sheet Iraq depends primarily on the oil sales, which means they have a single source, last year was expected to sell 2.15 million barrels per day, and the current production is still low, and two million for many reasons related to exports, and transport, " he said.

And on expectations of next year's budget, he said the appearance of: " There are two items in the budget, the operational and investment, need to think how many will be able to reduce in the first and the second for development and investment in particular, we have a growth rate of 9.4, a rate much closer ambition with the China.

The current government is also facing a wave of criticism for not submitting the final accounts للموازنات government since 2005, to date, there are demands to refer the subject to regulatory and judicial branches, because these accounts should be discussed and ratified by the parliament. The Ministry of Electricity also demanded allocation of 7 trillion and 806 billion dinars (6.7 billion dollars), in the next year, to cover the costs of the project, which was endorsed by the government in the development of the power sector.

This was announced by Musab Sri, a teacher, the official spokesman of the ministry, he said that the Ministry of Planning has proposed the allocation of five trillion, 266 billion and 650 million Iraqi dinars, (4.5 billion dollars) كموازنة to the Department of electricity investment, promised a big budget, compared with previous years. He said that these amounts are not sufficient to carry out private investment projects of the ministry, indicating that there are amounts due to the ministry, among other projects carried out in the course of the year, the current and prior years, including تريليونان and 925 billion dinars from the Treasury, and should be returned to the state treasury next year, and that the ministry was obliged to pay further amounts payable in 2011.

http://www.nakhelnews.com/pages/news.php?nid=3603

[ROACH]

One more step forward....

[SteveI]

Thank you k98nights. The best part of the article is that the word "soon" is not used but rather "within weeks".

I love it. Progress!!!!

God Bless.