Warning representative of the negative impacts on the strategic projects in the case of delay in approving the budget
08/11/2011 10:04

Baghdad, November 8 (Rn) - warned the parliamentary Finance Committee, Tuesday, from the negative effects on the continuing work of the strategic projects in the country in case of delay in release of funds within the budget next year, stressing that the political blocs put the national interest.

The Ministry of Finance announced last week the completion of the preparation of a budget for the 2012 final to be transferred to the Cabinet later for the purpose of approval.

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.

A member of the Finance Committee Najiba Najib told the Kurdish news agency (Rn), that "the delay in approving the budget for the next months will reflect negatively on the functioning of the strategic projects implemented in the country," indicating that "the strategic projects depend directly on the financial allocations within the budget."

Najib explained that "the political blocs in the House of Representatives put the national interest during the budget discussions," pointing out that "the political blocs could reduce objections and claims in the budget for the purpose of avoiding delays in the approval."

Najib and showed that "the point at which one of the most prominent problems facing the budget is the stability of oil prices in world markets, the fact that the budget approved by more than 90% on oil."

Iraq relies is a member of 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.