Iraqi Finance to prepare a complete budget in 2012
04/11/2011 10:14

Baghdad, November 4 (Rn) - The Iraqi Ministry of Finance of the Federal, Friday, preparing a file from the end of the 2012 budget 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 "the Ministry of Finance has worked to raise the investment value amounts compared to the value value amounts Lot within the budget in 2012."

He added that "the balance of 2012 is ready for submission to the House of Representatives and is awaiting the return of Finance Minister Rafie al-Issawi of travel for the purpose of viewing and presented in the sessions of the prime minister after the end of the holiday Eid al-Adha."

He continued that "the balance of 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.

The government spokesman Ali al-Dabbagh said the Cabinet discussed at its special session for Sunday (9/18/2010) bill the federal budget for 2012, noting that he has been allocated $ 131 trillion Iraqi dinars (112 billion dollars) as a counterbalance to increase total federal of 36% from last year.

Al-Dabbagh said that "total federal income amounted to 107.7 trillion dinars (about $ 92 billion) deficit total of $ 23.3 trillion Iraqi dinars (20 billion dollars) are covered by the amounts of cash retained from the current year budget 2011 is internal and external borrowing and the proportion of of the savings expected from the increase in selling prices or increased oil production or borrowing from the IMF and the World Bank