*Iraq's 2012 Budget to have positive impact

More related from today .. Iraq's Budget 2012 ..Meeting of the National Alliance today to discuss the budget of 2012 and Maliki's visit to Washington ... and .. Iraq 2012 Budget ~ Finance announced reduction in the number of grades of the new [115] thousand to [59] Alpha within the financial budget for 2012

December, 08, 2011

Iraq's 2012 Budget to have positive impact

BAGHDAD /Aswat al-Iraq: Iraq's 2012 Budget shall have a positive impact to develop the Iraqi economy, due to its investment value, compared with last year's budget, Member of the Parliament's Financial Committee, Najiba Najib, said on Wednesday.

"The 2012 Budget has positive signs, compared with the previous budgets, due to the fact the its investment allocations have raised from 29% of last year's budgetto 35% of this year's budget, along with its investment allocations that have included several positive impacts to improve the Iraqi economy, whilst thecommissioning costs have been reduced to 65%," she told Aswat al-Iraq newsagency.

Continues ...read more ..

Najib said that "the oil production increase and the continuation of oil prices shall enable the government to exploit it to support the budget," adding that"the government had allocated US$15 billions (b) for the major strategic projects, that shall achieve major economic reforms."

As regards tothe salaries of employees, Najib said: "a special committee had been formed to revise them, in order to raise the minimum salaries, along with there vision of the salaries of retired employees, that were cited in the 2012 budget."

Iraq's Council of Ministers had voted on Monday, 5 December, 2011, on the draft-law of the 2012 budget, that reached 117 trillion (t) Iraqi dinars, which is equal toUS$100 billions (b), including a deficit percentage that reached 17 trillion(t) dinars, which equals US$14.5 billions (b), based on a supposed price foreach barrel of Iraqi oil to reach 85 dollars and a daily oil exports of 2.6million barrels per day (bpd).

The Investment projects have scored 35% of the size of the country's new budget,whilst other sectors, including the commissioning allocations have occupied theremaining part of the total budget.

Noteworthy is that the Iraqi Parliament is expected to discuss the new budget in the forthcoming few days, before its final confirmation.

link