Thursday, December 8, 2011Dabbagh announced details of the budget: 117 trillion dinars federal budget for 2012
Baghdad, Said government spokesman Ali al-Dabbagh said the Cabinet has approved in its meeting on Monday to a bill the federal budget for 2012 of $ [117] trillion dinars, an increase of 22% from last year.
Dabbagh said that the total federal income amounted to [102] trillion dinars were the result of calculation of revenues from export of crude oil at the rate [85] dollars per barrel and export capacity of up to [2.6] million barrels per day, including the quantity produced and exported from the territory of Kurdistan and the amount of [175] thousand barrels per day, where will oil revenues, the Development Fund for Iraq after the deduction of [5]% of compensation for Kuwait war has reached the investment budget [37] trillion dinars, and the operating budget [80] trillion dinars were distributed to institutions, ministries and state bodies all of which will be distributed public expenditure according to the ratio of the population after excluding allocations Center and the Federal Ministry sovereign expenditure
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Dabbagh said in a table for the distribution of specialties that the budget had been allocated for security and defense 17.16 trillion [14.6%], education 11.47 trillion [9.8%] 20.46 trillion energy [17.48%], Environment and Health 5 0.71 trillion [4.88%] Social Services 15.54 trillion [13.28%] water, sewage and sanitation 3.86 trillion [3.3%] of transport and communication 1.13 trillion [0.96%] of the agricultural sector 2 0.41 trillion [2.06%] of the industrial sector 1.42 trillion [1.21%] Construction and Housing 1.14 trillion [0.97%] of Culture, Youth and clubs and federations 2.31 trillion [1.97%] International Obligations and debt 9.37 trillion [8%] departments of central and local public 12.46 trillion [10.65%]
Dabbagh said so appreciate the budget deficit to [15] trillion dinars will be covered by cash retained from the 2011 budget and the Development Fund for Iraq and domestic borrowing by the treasury transfers and external as well as the savings expected from the increase in selling prices or increased oil production or borrowing from the IMF and the World Bank will be empowered with Federal Minister of Finance the power to continue borrowing from the IMF, including the amount of complement [4.5] billion dollars, the World Bank, including the amount of complement [2] billion dollars during the years 2012 and using special drawing rights of up to SDR [1.8 [billion dollars to cover the projected shortfall in the federal budget.
Dabbagh said that the share of the Kurdistan region has reached [12.6] trillion dinars, or by [17%] of the total operating expenses and expenses of the investment projects of the general budget of the Federal Republic of Iraq ratified the Kurdistan region after excluding expenses sovereign.
Dabbagh said the allocation of $ [250] billion dinars as a reserve of emergency and the amount of [1.07] trillion dinars as a reserve for investment projects approved within the budget of the Federal Ministry of Finance to be disposed of by the Council of Ministers and will be allocated an amount of [6] trillion dinars for reconstruction projects and the development of regions and provinces, including the Kurdistan region to be spent according to the plans of reconstruction of the province, provided by the Governor and ratified by the provincial council to the Federal Ministry of Planning, where will the governor exclusively implement the reconstruction plan approved and the Council shall maintain responsibility for overseeing the implementation and will be allocated an amount of [1676] trillion dinars, called assignments petro-dollar is the amount of dollars for each barrel of crude oil producer in the province or refined in refineries, the province and a dollar for every [150] cubic meters of natural gas producer in the province and the province to use no more than [50]% of the allocations of petrodollars to purchase electric power and will be allocated revenues from visa to Iraq to visit holy sites for the years 2011 and 2012 to service visitors and infrastructure, according to the following table:
holy city of Karbala, 15% Salahaddin / Samarra, 10% of Baghdad / Adhamiya, 25% Najaf and 10 percent of Baghdad / Kadhimiya
And between-Dabbagh said the draft budget has included an exemption of all citizens of the amount of interest on loans granted to them by the Land Bank, agricultural and housing fund and to continue to grant these loans without interest to the citizens and by the souls of each province will be borne by the Ministry of Finance interest rate As for the staff of government departments centrally funded or self-When transferred to the private sector will bear the ministry or organization is not related to the Ministry transferred the employee half his salary monthly for a period of three years from the date of transfer to a final cut off his relationship to his department.
Al-Dabbagh that the Iraqi government and to support the industrial sector, private and mixed sector Like the initiative of agricultural would be lending to projects the Iraqi Industries Union without the benefit of the bore and the Ministry of Finance to pay interest to banks, government and will give the Council of Ministers the development of infrastructure projects for no longer than [18] trillion dinars [2] trillion dinars, of which to build a housing for the poor is distributed according to population of each province and implemented on the basis of deferred payment and the Federal Minister of Finance to reallocate the amounts remaining unspent from the approved amounts in the federal budget for the year 2011 and the related compensation provinces, cities and individuals affected by the budget of the recipient solely for disbursement During the year 2012 an exception from the provisions of [Section IV] of the financial management and public debt number [95] for the year 2004.
Dabbagh said the Federal Minister of Finance in coordination with the Minister of Planning, Federal will be re-allocated amounts for projects, reconstruction and the assignment of provinces [[Baghdad's] al-Sadr and the torch], Basra, Diyala and Nineveh]], which was launched amounts in the form of advances in 2008 for the purpose of adjustments Agaydah them within the budget in 2012 without incurring the actual exchange as well as the reallocation of revenue actually in ports, land border, sea and air, including the sovereign revenues during the year 2011 to balance the border provinces, both by revenue actually at border crossing points in that province with priority given to the rehabilitation and reconstruction of border points of each province and the 2010 revenue was being spent in 2011 to the late receipt of data by the province concerned to balance the province in 2012.
Dabbagh said that the Federal Cabinet will add customizations to the federal budget for the year 2012 when you achieve an increase in revenues from exports of crude oil exported during the first six months of this year to pay the planned deficit budget and secure funds for investment projects of the Ministry of Electricity after approval by the Federal Ministry of Planning in addition to the amounts import of electric power and pay the dues of the private sector before 9/4/2003 and loans granted by government banks for the salaries of employees of public companies for 2010 and 2011, loans granted by government banks to buy barley crop in 2010 and a loan of Trade Bank of Iraq to secure the vocabulary of the ration card for 2010 and versions treasury transfers for the projects and the Ministry of Electricity in 2010 and the allocation of funds for the infrastructure project in the [Draft Basmajh residential] after approval by the Federal Ministry of Planning and the amounts of census of Population and the amounts of the expected increase in the pensions of civil and military, which has been withheld from the allocations in 2012 and secure the amounts that were issued by the Cabinet decisions have been withheld from the allocations in 2012 and the amounts of investment projects of the ministries and departments not related to the Ministry in the case of the implementation of more than [70%] of the allocations.
Dabbagh said that the Ministry of Finance will adhere to the financing of an additional amount for windows Muslim in each of the Rafidain and Rasheed, and the amount of [25] Mlyardinar each at the request of the Iraqi Central Bank which will open a window within Islamic private banks that wish to do so. Over.
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