Kurdish lawmaker doesn’t believe budget will be adopted next week, possibly the following week

[Funky Cold Medinar]

* Kurdish lawmaker doesn’t believe budget will be adopted next week, possibly the following week

January 26th, 2011 11:41 pm · Posted in NEWS (Iraq & World Currency)

Kurdish lawmaker doesn’t believe budget will be adopted next week, possibly the following week

Posted: January 26, 2011 by THE CURRENCY NEWSHOUND – Just Hopin in Iraqi Dinar/Politics

Kurdish lawmaker exclude the adoption of the 2011 budget next week

Baghdad, January 26 (Rn) – ruled Kurdish lawmaker in the Iraqi Council of Representatives, Wednesday, the approval of the financial budget of the country in the next week because of the existence of “legal and technical problems” not solved by politicians.

Said Mohsen al-Sadoun coalition Kurdish blocs of Kurdistan News Agency (Rn) that “the budget in 2011 will be read in the second week a second reading and will take a long time because there are some legal problems and technical government could not be resolved during the writing of the draft budget.”

The MP for the Iraqi List, has said Hattab Karim’s (Rn) earlier that next week will see the adoption of the budget law after resolving all outstanding problems between the political blocs.

The Government of the Kurdistan region of Iraq to impose expenses of the sovereign on the financial allocations from the general budget of the country so as to reduce the amounts imposed in the event of about $ 14 billion to 11 billion, while the share of the territory of Iraq’s budget 17 percent.

Saadoun and that the coalition of Kurdistan “will be presented his proposals and objections to the budget in 2011 will next week during the second discussion, which will take more than two weeks until a final version of the budget law.”

And calls for the Kurdistan region of decreasing the export of oil from the fields to 100 thousand barrels instead of 150 thousand, and defined by the federal government previously as a condition to maintain a ratio of 17% of the Kurdistan region in the general budget.

He added that al-Sadoun, “budget in 2011 should recognize as soon as possible but must be fair and balanced and supports the mission of the Iraqi economy forward towards the objective of raising living standards for the Iraqi side during this year.”

The Iraqi government has approved the draft federal budget law for fiscal year 2011, so that the budget amounting to about 79.6 billion dollars, so when calculating the oil per barrel to U.S. $ 73, and the rate of export of 2.25 million barrels per day.

It is expected that the budget deficit to reach about $ 12 billion, with likely that the rate of spending about 54.7 billion dollars.

Iraq relies He is a member of the Organization of Petroleum Exporting Countries on oil revenues to finance about 95 percent of its annual budget.

In the view of economists that the budget was delayed more than the current time would disrupt the process of construction, age and will be followed the movement of government and ministries.

And witness 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 paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies.

According to the advisers in the Iraqi prime minister said the government decided to raise the investment ratio in the slot in the current year budget to 30% at the expense of the operational aspect in order to support investment projects.

According to the CBI, the 2011 budget will raise economic growth to 10% of what it was, noting it was built according to the country’s economic policy.

aknews

Countless blessings and endless peace to ALL....GO RV!

Edited January 27, 2011 by Funky Cold Medinar