PM unveils Kurdistan budget project details

[k98nights]

PM unveils Kurdistan budget project details

Monday, February 28th 2011 10:05 AM

Erbil, Feb.28 (AKnews)- Barham Salih Kurdistan Region’s Prime Minister said at a press conference Sunday his office is done with Kurdistan 2011budget which will be sent in a near future to the Kurdish parliament for final approval.

The budget stands at 13,940,000,000,000 Iraqi Dinars (IQD)- nearly 11,863,781,322.425 U.S. Dollars, the PM, said while he reiterated some 25,000 people will be employed throughout 2011. Salih also stressed the marriage loan was reconsidered and increased, adding the government will continue funding the political parties.

Kurdistan budget approval follows the Iraqi 2011 budget endorsement because Kurdistan sets its budget according to the Iraqi budget. Kurdistan is entitled to 17% of the Iraqi general budget, under a pact. Though the Region approved its budget before the New Year but changes in the amount of the fund, compelled the Kurdish part to reconsider its own budget proposal.

Some 4.250 trillion IQD (about $3,617,021,158) is for investment in general. Some 2.700 trillion IQD ($2,297,872,339) of this amount will be for the long-term projects, 291 billion IQD (about $247,659,574) for provincial development projects, and 1 trillion IQD (about $851,063,829) for new projects.

As Salih stated in the new projects the priority is given to providing Kurdistan with more electricity- 60% of budget for the new projects, equal to 650 billion IQD (nearly $553,191,489) is devoted to power generating projects.

Some 9.687 trillion IQD (almost $8,236,595,744) is allocated to the reimbursement of government paid employees as well as the governmental agencies expenditures. Some 45 billion IQD ($38,297,872 ) of this budget has been allotted to the expenses of Kurdistan parliament and some 48 billion IQD $40,851,063 to outlay for the Kurdistan Judicial Council.

The PM added Kurdistan budget deficit for 2011 stood at 1.554 trillion IQD (nearly $ 1,322,553,191)- most of it incurred by Kurdistan Ministry of Peshmarga (armed forces).

As for the employment, Salih said as he announced before in 2011 some 25,000 people will get employed in the governmental institutions, assuring the public that “this year the employment will be not be affected by political interventions or nepotism.”

Recently public protests have erupted in Kurdistan, accusing the government of “political and economical monopoly.” Many protesters have observed due to lack of affiliation with the ruling parties in Kurdistan, they missed the chance to get employed.

In the 2011 budget project it is also stipulated the Kurdish government provides 30% of the assurance and pension fund. Some 25 billion IQD (about $ 21,276,595) is assigned to small loans and creation of jobs.

As for the controversial marriage loan, the PM said, it was increased from 1 million IQD (almost $ 851) to 2.5 million.

Regarding the salaries of the top officials as well as their pension, the Kurdistan Council of Ministers has proposed a 10% cut. It has also suggested for reconsidering the governmental employees wages for potential rise in line with the revenues of the Region.

The opposition parties have repeatedly criticized the government for the large gap between the wages of the ordinary employees and those of the director generals, ministers, lawmakers, the Kurdistan presidential offices. Some of these ranks get their pension equal to their salaries on duty.

Some 200 billion IQD (nearly $170,212,765) is proposed to be allotted to the political parties in Kurdistan.

In Kurdistan political parties are funded by the government to run their activities and this subject has rose many questions.

Reported by Hazhar Mohammed

Lh/AKnews

http://www.aknews.co...knews/2/221616/

[HYDRANT]

THATS GREAT THAT THIER TAKING A 10% CUT--BUT THEY PAY THE REST AT A 3% INCREASE ONLY-NOT TO MENTION THE KICK BACK THE OFFICIALS GET

[sfredieu]

Do not bash me for putting this out there but if you take the iqd amount and divide by the usd amount you get a 1.17 could this be the rate.

[k98nights]

Do not bash me for putting this out there but if you take the iqd amount and divide by the usd amount you get a 1.17 could this be the rate.

I have no clue... but that's as good a guess as anyone has put out there... and I'll take 1.17 all day!

[E A Poe]

Sounds good to me to!

[Dumped On Joe]

Don't like having sad things to say but your calculator must be dropping zeros. Everything here was figured on 1175 IQD = $1US Sorry same rate we have been seeing

[sfredieu]

I do not know what math you are using but the article said 13,940,000,000,000 divide by 11,863,781,322,452 and the amount is 1.175

[roxyredhead]

I have no clue... but that's as good a guess as anyone has put out there... and I'll take 1.17 all day!

K98, You are one busy man. You Rock!

[Mustmoto]

I do not know what math you are using but the article said 13,940,000,000,000 divide by 11,863,781,322,452 and the amount is 1.175

No, it's 11,863,781,322POINT452. Thus the rate is 1175.

[Kandi77]

I do not know what math you are using but the article said 13,940,000,000,000 divide by 11,863,781,322,452 and the amount is 1.175

Actually it says .452, as in cents... that could be a typo also, just saying!

No, it's 11,863,781,322POINT452. Thus the rate is 1175.

You beat me to it!!!

[jnpii]

Actually it says .452, as in cents... that could be a typo also, just saying!

In the ME they use .xxx when writing currency amounts.

[Kandi77]

In the ME they use .xxx when writing currency amounts.

So why was it only used on the USD and not the IQD??