Thursday 2 August 2012

BAGHDAD - and babysit - Member of Finance Committee criticized the MP Hussain Yasiri, the supplementary budget, noting that they were formulated in a manner inconsistent with the nature of the Financial Administration Act which provides for the ask when the occurrence of an emergency in the country.

Yasiri said in a press statement: that the Financial Management Law No. (95) for the year (2004) emphasized that the supplementary budget are formulated in the event of deterioration in the economic situation of the country, but modified paragraphs of the budget (2012) by the House of Representatives Ojart put forward a supplemental budget when you get a surplus Mali, in revenues from oil.

He added: This is what makes the members of the House of Representatives Anctron into two parts, one of them goes not to the enactment of the supplementary budget and considers it an offense and the other sees the need for legislation because the budget indicated that.

He pointed out: that the legislation during the current period is necessary because the general budget when placed under the price of a barrel of oil (85) dollars, a barrel of oil sold at (111) dollars, while now began oil prices headed for a fall because of economic crises, international, raising fears might not get a financial surplus in the second half of this year due to lower oil prices or may cause problems in the process of production and export of Iraqi oil.

He continued that the supplementary budget free of the distribution project (25%) of the fiscal surplus to the people who provided for in the general budget, which angered some lawmakers and will drive them not to vote, adding that the government justified this, saying that the fiscal surplus will be distributed to the people not in cash but on the the form of projects provide services to citizens as projects or electric power infrastructure.

The central government approved the supplementary budget for 2012, the current amount up to about (11) trillion Iraqi dinars and will be delivered to the House of Representatives for approval, including the allocation of (40) thousand degrees and careers as a need within the immediate supplementary budget ..