Babinaoz (Reuters) – The Ministry of Planning planning budget for next year by $ 108 billion. The Minister of Planning Ali Shukri: “The Ministry has started the preparation of the planning budget for 2013 which will be worth the projected $ 108 billion.” And explained that “the balance of 2013 will focus on economic development projects and that would revive the Iraqi economy.”
The government is demanding each year in the House of Representatives to speed up adoption of the budget and not to delay it for a long time. In the view of economists that the delay budgets, the financial detriment of the economy and strategic projects significantly.
And ratified the Council of Ministers last December on the budget year 2012 amounting to 117 trillion Iraqi dinars (100 billion dollars) a deficit of $ 17 trillion dinars, or $ 14.5 billion based on the price appreciation of oil is 85 dollars per barrel and oil export volume 2.625 million barrels per day, but that the parliament approved after more than two months.