December 1st ~ Iraq 2012 Budget Being Revised at IMF Request ~ Expected To Be Sent to the Council House of Representatives in Two Days, Dec. 1st?

Snip ~ adding that the demands to discuss the budget of the ministries of interior and defense was the result of demand for real ..*the file of the U.S. withdrawal, but this is included in the folds of pressure on the government to accelerate the adoption of the budget and sent to the House of Representatives.

Snip ~ 2 days .. And intercept the International Monetary Fund said Jubouri: *There are negotiations with the IMF as the Ministry of Finance promised us in two days prompted the Council of Ministers session exceptional for the purpose of discussing the budget and sent to the Council House of Representatives

November 29, 2011

Parliamentary Finance Committee: late submission of the federal budget for 2012 was due to the objection of the International Monetary Fund and the political blocs involved in the delay

Baghdad, confirmed the Finance Committee representative to the International Monetary Fund objected to the federal budget for 2012, which led to a delay in submission to the House of Representatives, indicating that the objection was the result of Matkdmt by the budget deficit rate of large, which amounted to 30% of the value of the budget, noting they agreed in principle to reduce the investment budget by 15% in order to avoid fiscal deficits there.

He / member of the Finance Committee representative / MP Haitham Jubouri (of the Agency news) on Tuesday: it is both legal and economic may not be detailed budget, but must come to the House a boost one either come at the Ministry of Defense and each internal unit that is not reasonable where they want us to discuss the budget for a number of ministries and we do not know the whole ..adding that the demands to discuss the budget of the ministries of interior and defense was the result of demand for real, the file of the U.S. withdrawal, but this is included in the folds of pressure on the government to accelerate the adoption of the budget and sent to the House of Representatives.

And confirmed Aljbreue: the objection of the International Monetary Fund was due to the size of the deficit in the federal budget where there is a deficit of 30% of the total budget, indicating that the rate of (30%), half deficit financed with can be covered and the other half is funded can not be financed as Treasury operational, adding that Iraq is an individual income that is 92% of its revenues coming into the government of Iraq is oil and including the instability in the European market and Asian as well as a confusion in the global economy, It is possible to affect the oil and thus can affect the federal budget for Iraq, stressing that the Committee had agreed in principle to reduce the investment budget by $ 15% so that we can control in the case of falling oil prices on the budget and the economy.

Continues ...read more ..

Added Jubouri that for more than two years, prices oil is stable, including the revenues from Iraq's most oil, so Iraq is affected by the impact of large oil revenues as it is for example if they fell Saralnaft to 40% of the current price is already the investment budget whistles in full and state remains the only work to balance operational therefore the citizen will not see any services in the 2012, that requires stakeholders to examine the budget is well away from the rhetoric of political and electoral systems.

And intercept the International Monetary Fund said Jubouri: There are negotiations with the IMF as the Ministry of Finance promised us in two days prompted the Council of Ministers session exceptional for the purpose of discussing the budget and sent to the Council House of Representatives.

It seems that the political differences also entered on the line of legislation, the budget Insisting to raise value and increase the operational side and where the wills of the blocks contributed to the disabled as it shows the leadership of the Kurdistan Alliance / MP Qassem Mohammed, there are differences between the political blocs and political life differences natural, but non-natural that does not have a there is an agreement between the blocks, particularly in the adoption of the budget, stressing that the political blocs are all borne by the delay in not approving the budget, and each party and all the mass of each stream bear the premium of the delay budget.

The Ministry of Planning, declared in the 22 September attacks, the financial budget for next year will be between $ 112 and $ 120 billion, confirming that 35% of the budget allocated to the investment, while the current year budget of $ 201,181,900,000,000 deficit of $ 13.3 billion.

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