Iraqi Central: Balancing 2011 managed oil sector development

04-10-2011 | (Voice of Iraq)-(aknews)

Iraqi Central Bank, announced Tuesday, balancing 2011 made development in the oil sector in the country.

Deputy Central Bank Governor Mohammed Saleh to look Kurdish news (aknews) that "balancing 2011 achieved the desired development in the oil sector and was able to advance in good projects."

"Balancing 2011 preliminary budget was to balance the 2012 was able to attract international businesses and global corporations are known to work in Iraq and break the economic embargo."

"Balancing 2011 implemented correctly it mtmshayh with monetary policy implemented by the Central Bank of Iraq and translating the interaction between monetary policy and finance".

Iraq seeks to raise oil production to 3 million b/j after passing three rounds to raise production.

Government figures show that Iraq budget for next year will be 131 trillion dinars (around 112 billion dollars), up 36% on the balance of the year, with a deficit of $ 23.3 trillion dinars (20 billion dollars).

The Government says that the deficit will be covered from cash balance current year cycled 2011 and internal and external borrowing and the proportion of savings expected from increased oil sales prices or increased production or borrowing from the IMF and World Bank.

From: Jafar Alunan, en: Salam bagdadi