Announcement of the budget 2012

[deniscanada]

Announcement of the budget 2012

Friday, 09 December 2011 09:40 GMT

Rafie al-Issawi: Council of Ministers approved the budget of the year two thousand and twelve which amounted to one hundred and seventeen trillion Iraqi dinars .. To be a budget that recognizes the highest in Iraq throughout history ..

Budget of the year two thousand and twelve surpassed the current year budget approximately twenty trillion Iraqi dinars The Ministry of Finance put it on the basis of eighty-five dollars as a price per barrel of oil and the rate of export amounted to two million six hundred thousand barrels per day.

The Minister announced that the mechanism in the budget deficit amounted to fourteen trillion Iraqi dinars, equivalent to ten percent of gross domestic Iraqi and twelve percent of the total budget paid from the surplus of production and higher oil prices .. According to the Ministry of Finance that this inability to select the agreement with the Bank and the International Monetary Fund who is linked to Iraq's agreement with them and assigning a consultation.

The value of the operating budget for this year nearly eightieth trillion Iraqi dinars, while the value of the investment budget is thirty-seven trillion dinars to the thirtieth trillion dinars last year. According to the Ministry of Finance said that this increase is slight at first glance is good compared to the reluctance of ministries, the implementation of investment projects, especially since the budget was prepared according to the annual rates of achievement and not according to the need for college.

The energy sector was the highest share of the budget, where at a cost of twenty-four trillion Iraqi dinars, or gain of twenty-one percent of the budget while solving the security sector and the defense secondly a budget of seventeen trillion dinars Iraqi and then social services Kalptaqh ration and the salaries of network protection and other fifteen trillion dinars followed by the education sector eleven point four trillion dinars.

Minister of Finance pointed out that the new issues that have been introduced to the Iraqi budget is the abolition of interest on loans granted by the Agricultural and Industrial Bank and the Housing Fund, while the loans will be granted without Foaúrd of Iraqi industries to move the Iraqi economy. In addition to extinguishing the benefits of agricultural debt above.

Although the Council of Ministers had spoken ninety thousand degrees and the new job for next year, the objections of the International Monetary Fund and the fear of a significant increase to balance operational at the expense of the investment budget may be cut into the number of jobs in more than forty percent to fifty-nine thousand degrees new. Also were canceled any increase to the employees expect salaries of two thousand and twelve for the same reasons. The finance minister said that the grades are distributed by the new eighteen thousand degrees to the Ministry of Health and fifteen thousand of the Ministry of Education and the rest of the ministries and other entities.

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[billiebobt]

Thanks for the post but has been posted a few times already with quite a few comments. Keep searching though. Always need good info.

[p71rock]

Whoo Hooo!!! GO RV+

[jas428]

This is nothing new, Parliamnet still has to approve it. Budget and HCL now will sit on their desk until they decide to pass them. Its a frustrating wait!