Economic Researcher rule out a deficit during the next budget
On: Sat 29/10/2011 13:45
Baghdad (news) .. rule out economic researcher Hussein star for a fiscal deficit during the budget year (2012) projects that have not been implemented yet, at the same time criticizing the financial management in Iraq to talk about the fiscal deficit before disbursing the budget.
Said the star in a statement to the Agency (news) on Saturday: I do not expect a financial deficit in the annual budget of the next that is not the start regardless the budget, both on the investment or operational, noting: that the rates of completion of projects that have been implemented in the current year amounted to (60% to 65%), although the proportion of the objectives of the budget of up to (65%), leading to rotate a lot of money to the next budget.
He said: the figures announced by the size of the budget year (2012) by the federal government was acceptable and sufficient to meet the requirements of the budget and investment projects, the result of what is now the financial assets cover a large volume of the budget it is difficult to place a financial deficit in the budget.
The Star: The financial management of the Iraqi talking about the fiscal deficit before, regardless the budget and project implementation is not possible for one to imagine the existence of a fiscal deficit before distribution of the budget of the ministries and provinces, and continued: if it happened there really a financial deficit in the next budget will be processed through the borrowing of funds from many by the World Bank or the sale of bonds to the public by the Central Bank or the Ministry of Finance to fill the shortfall.
The House of Representatives when it voted on the budget for 2011 of $ 81.9 billion dollar deficit of $ 13.3 billion is covered by the amounts retained from the previous year's budget, borrowing internally and externally, while the operating expenses $ 56.4 billion, while the capital expenditures $ 25.4 billion on based on the rate of $ 76.5 per barrel of oil at a rate of 2.0002 million barrels a day, including 100 thousand barrels of Kurdistan.
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