Parliamentary source: the late submission of the federal budget for 2012
On: Thu 1/12/2011 7:33

Baghdad / follow-up term economic
objected to the International Monetary Fund on the federal budget for 2012, which led to the delay in submission to the House of Representatives, and the objection was the result of the offer of the budget deficit rate of large, which amounted to 30% of the value of the budget, noting that it agreed in principle to reduce the investment budget by 15% in order to avoid fiscal deficits therein.

He attributed the economic expert Hilal Taan postpone the budget next year to reduce operating expenses from them.
He said Miller's (range economic) is still too early for the budget Delay obtained by reducing the operating expenses of the general budget.
He pointed out that this measure is one of the recommendations of the International Monetary Fund which in turn provides advice for economic reform in Iraq.
and Adaf miller: that Article 57 of the Iraqi law may not be the enjoyment of any public holidays unless it is ratified on the budget, pointing out that the House of Representatives has the right to reduce the budget and transfers between sections or chapters, either increase the budget not only be done approval of the Council of Ministers.
A member of the Finance Committee, the parliamentary Haitham Jubouri (agency news): It's legal, economic, shall not detail the budget, but must come to the House of Representatives at once, but comes at the Ministry of Defense and the Interior of the individual that is not reasonable, where they want to us to discuss the budget for a number of ministries and we do not know the whole, adding that the demands to discuss the budget of the ministries of interior and defense was the result of demand for real, the file of the U.S. withdrawal, but this is included in the folds of pressure on the government to accelerate the adoption of the budget and sent to the House of Representatives.
He added that the objection International Monetary Fund was the result of the size of the deficit in the federal budget where there is a deficit of 30% of the total budget, indicating that the rate of (30%), half deficit financed, where possible coverage and the other half is funded can not be financed as Treasury operational noting that Iraq is an individual income that is 92% of its revenues coming into the Iraqi government is from oil, including that the state of instability in the European market and Asian as well as a confusion in the global economy, it is possible to affect the oil and thus can affect the federal budget for Iraq, stressing that the Committee had agreed in principle to reduce the investment budget by $ 15% so that we can control in the case of falling oil prices on the budget and the economy
continued Jubouri that for more than two years, oil prices unstable and including the income of Iraq the most oil, so Iraq is affected by the impact of significant oil revenues as it is for example if they dropped the price of oil to 40% of the current price is already the investment budget whistles in full and state remains the only work to balance operational therefore the citizen will not see any services in 2012 that requires stakeholders to examine the budget is well away from the rhetoric of political and electoral systems.
and hinted Jubouri to the existence of negotiations with the IMF as the Ministry of Finance promised us in two days prompted the Council of Ministers session exceptional for the purpose of discussing the budget and sent to the House of Representatives.
It seems that the political differences also entered on the line of legislation, the budget Insisting to raise value and increase the operational side of the and the intervention of the will of the blocks contributed to the disabled as it shows the leadership of the Kurdistan Alliance, MP Qassem Mohammed, there are differences between the political blocs and political life differences natural, but it is normal that there is there is an agreement between the blocks, particularly in the adoption of the budget, stressing that the political blocs are all borne by the delay in not adoption of the budget and each party and all the mass of each stream bears the premium of the delay budget.
The Ministry of Planning, declared in the 22 September attacks, the financial budget for next year will be between $ 112 and $ 120 billion, confirming that 35% of the allocated budget investment, while the balance the current year of $ 201,181,900,000,000 deficit of $ 13.3 billion.