Aswat Al Iraq / Economy , Missan
ECONOMY: Iraq's new Budget to be ratified within 2 weeks
2/2/2012 11:00 AM

MISSAN / Aswat al-Iraq: Iraq's 2012 Federal Budget is expected to be ratified within 2 weeks from today, Thursday, a legislature for the National Alliance, led by Prime Minister, Nouri al-Maliki reported.

"The return of al-Iraqiya Alliance to attend the Parliament's sessions shall accelerate the ratification of the Federal Budget for the year 2012, after the Parliament's 2nd reading of its draft-law," Mohammed al-Seyhoud told Aswat al-Iraq news agency, expecting that the budget's ratification would take place within 2 weeks.

He pointed out that "the proposals by the Parliament members about the Federal Budget have been centered on several points, including the allocation of employment in several state institutions and the allocation of a share from Iraq's oil revenues for distribution on the Iraqi people, taking into consideration the prevention of some Iraqi provinces from their shares from the budget."

"The proposals also suggested the increase of allocations to build the Grand Faw Terminal on the Gulf or the establishment of an investment ports company, to steer the construction of the terminal, along with the allocation of one billion (b) US dollars for every one million Iraqis, according to the inhabitants percentage for each province in the budget," he said.