Okay not sure if you saw this it is dated last tuesday but a biggy!!!!!!! read in red......NECESSARY!

Source: Journal-term - 07/11/2011

Budget next year consistent with the conventions of the International Monetary Fund

The Ministry of Finance has prepared a budget in 2012 in line with the agreement with the International Monetary Fund and the amounts necessary for lifting the value of its investment.

The Deputy Minister Fadhil Nabi told the Kurdish news agency (Rn) that his ministry has worked to raise money value compared to the value of investment funds within the budget value of Lot 2012. "

He added that "the balance of 2012 is ready for submission to the House of Representatives after the Eid al-Adha holiday. He said," the budget in 2012 will focus on development projects with ease in the proportion of operational projects. "

He called on the Iraqi Central Bank last October and the Ministry of Finance to review the operational part of the budget in 2012.

Economists and experts predict that delayed the budget in 2012 in the House of Representatives because of political differences between the parliamentary blocs typically arise with a discussion of financial budgets annually.

Iraq relies Hoedo and OPEC on oil revenues to finance about 95% of the annual budget

The estimated budget for Iraq in 2012 to $ 112 billion, including 17 billion for security and arms, up 36% from last year, but a deficit of $ 20 billion.

And announced in Baghdad (18/9/2010) that Iraq's budget for next year 2012 will amount to $ 112 billion, up 36% from the current year budget 2011, but a deficit of $ 20 billion and he has been allocated $ 17 billion for security and armament.