Saturday, August 11, 2012 21:33
The budget next year will be the new currency
BAGHDAD / Baghdadiya News / .. She Parliamentary Finance Committee, on Saturday, for fear the exposure of the country to an economic crisis due to the fluctuation in oil prices in world markets
Said committee member Najiba Najib told / Baghdadiya News /, that "due to the adoption of state revenues on oil by more than 93% which means that the economy of the country yield, any adverse change occurs to the oil prices in the world, whether to decline or altitude will affect the economy of Iraq directly. "
She said Najib, that "oil prices saw a decline in recent months due to lower prices in world markets, pointing out that when you approve the supplementary budget in the House of Representatives and the $ 9 trillion two hundred and fifty billion, demanding that the government keep the surplus in case of any urgent matter, the economy is facing the future."
She explained, that "the recommendations issued by the Finance Committee to the Central Bank include issuance of new Iraqi currency over the next year, and recommendations related to other indebtedness at the completion of the new currency."
On the subject of the distribution of petrodollars on the citizens indicated Najib that "there is a provision in the budget gives authority to the government grant of surplus oil profits to the citizens after issuing instructions from the ministries of finance and planning, pointing out that the delay distribution is due to the return of the supplementary budget by the government to parliament."
[CENTER][COLOR=#b22222][B][SIZE=3]"Truth is everlasting, but our ideas about truth are changeable. Only a little of the first fruits of wisdom, only a few fragments of the boundless heights and depths of truth, have I been able to gather"[/SIZE] [/B][/COLOR][/CENTER]