Iraqi government discuss balancing 2012 mid month
08/11/2011 14:43

Baghdad November 8th / October (AKnews) - Iraqi government announced Tuesday it would discuss balancing country to 2012 mid month prelude for approval sent to Council Representatives.

Indicate government figures that balancing Iraq for next year will 131 trillion Iraqi dinars (about $ 112 billion) up 36% for current year budget and deficit of 23.3 trillion Iraqi dinars (20 billion).

Government says deficit will covered cash retained from current year budget 2011 is internal borrowing and external proportion of savings expected increase prices sale oil or increased production or borrowing IMF and World Bank.

Said government consultant peace Quraishi told Kurdistan News (AKnews) that "Cabinet discuss in the 15 this month balancing 2012" noting that "government will depend balancing meshes with aspirations Iraq economic and enhance value Iraqi dinar."

Added "The Ministry financial confirmed it completed required procedures took observations IMF into account and will raise budget to the Council Deputies before 20 of month to are rated before beginning next year."

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 is a member of OPEC on oil revenues to finance about 95% of the annual budget.

Often delayed Adoption budgets financial in Iraq and also rated inside Council Representatives because differences between political blocs.

The value current year budget approved in February 20 past 82.6 billion which $ $ 25.7 billion Investments.

Suffer Iraq from infrastructure rickety in overall sectors result long years of siege and wars during last two decades of last century.

Although passage eight years overthrow former Iraqi unable Iraqi governments provide basic public for citizens, which often protesting shortfalls.