17/12/2011
Withdrawal will encourage Arab and foreign companies to invest in Iraq
Congress «morning»: the Iraqi economy requires a redoubling of efforts to promote
Baghdad - Shaima Rashid saw the deputies and specialists that the withdrawal of U.S. forces will encourage investment companies to come to Iraq and investment.
and they confirmed in their statements »Sabah» that the Iraqi economy requires more efforts to promote and up to the required level. The MP for the coalition of state law, Abbas al-Bayati said «the withdrawal of U.S. forces would encourage investment companies to have a bigger role in investing in Iraq under the activation of framework agreements, in addition to holding a second conference for business in Washington evidence of their desire to come to Iraq.
Al-Bayati said that the Arab companies will have a significant presence and this will activate the Iraqi market, ranging from opening up to all the countries of the region, as it is and after the withdrawal, we will adopt a market-disciplined and not rampant and the government should monitor the market and do not make traders dominate him.
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Either on budget 2012 Between al-Bayati, it is a budget are substantial and promising and increase by 20 percent from last year, saying: There is no doubt how the budget will do the Iraqi economy and the ration card and lead to address the imbalance in some sectors that suffer from the weaknesses of its aspects.
He continued: International Monetary Fund had Note on the budget, which demanded that $5 billion from the operational budget to the investment budget, but at this stage we can not so huge leap despite the fact that the investment budget will see significant development this year.
For his part, said the Iraqi List MP Abdul Khader al-Tahir:« We hope that there is growth of the Iraqi economy in the presence of international relations, real after the U.S. withdrawal, and in the presence of a real investment and be faster than others in terms of economic growth, but now we're talking numbers at hand and rushed to say that there is to eliminate unemployment and creating job opportunities in going forward operational for the next year.
He Immaculate: The a huge budget for this year drain of operating on the consumer and this means that the situation in Iraq is a social care to millions of employees and consumers either wheel building and investment remains paralyzed.
He added that the state of the economy depends on the Elimination on unemployment and creating job opportunities and the existence of projects.
In turn, President of the Committee of Economy and investment representative Ahmed Alwani: The economic situation is still volatile because of the economic policies wrong, as there are dependent on the oil sector in the economy more than rely on other resources.
He added that the Iraqi economy is clearly not dependent foundations objective , where the remains of our economy is suffering from a real crisis by relying on the oil sector by 95 percent, and that it governed the price of oil and the amount of rise or descent.
He Alwani that the Americans did not add anything new to the Iraqi economy, but rather Our economy has been affected like all other sectors such as transport and trade agriculture and other, adding that there is still inflation, unemployment and lack of investment.
For the budget of 2012, the official pointed Alwani that next year's budget did not read an accurate reading and Snthfez them, stressing that he can not pass without that there is an estimate of the accounts, since there is an item from within the budget provides for the accountability of Ministers who had not completed 75 percent of the budget granted to them.
The Kurdistan Alliance MP Sheriff Solomon has pointed out that the Iraqi economy depends on the oil sector, largely without relying on other sectors that have not experienced a major development, where still many sectors suffer from weakness and neglect.
He said Suleiman that Iraqi imports have not seen the increase hoped to have, and that all sectors on the same token, because it was not the same, but some sectors of the earth.
As for the development of the Iraqi economy after the withdrawal, Solomon said: We hope that the economy is developed after the withdrawal, and this depends on the agreements to be signed, and the agreements concluded would be a private oil at the expense of other sectors which witnessed reluctance such as trade, industry and investment.
The Solomon that the budget 2012, not bad, but the budget operating more than consumer will not change anything significant, and the government is now steps which reduce grades by half, although Some of the objection by the House of Representatives compared to previous years and this negative thing.
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Showing posts with label iraq budget 2012. Show all posts
Showing posts with label iraq budget 2012. Show all posts
Friday, December 16, 2011
Wednesday, December 14, 2011
Iraq 2012 Budget ~ Parliamentary economy: We will not endorse the budget 2012 without final accounts for current and prior year
Wednesday, 15/12/2011
Parliamentary economy: We will not endorse the budget 2012 of the final accounts without
Baghdad / agencies
threatened the economic and investment commission of parliament not to ratify the budget for next year unless they are sent the final accounts for the current year and prior years, stressing that it constitutes a constitutional violation of Article 62, paragraph First of Article 80, paragraph IV of the Constitution.
The secretary of the Committee Habib Ghali Abboud as "Alsumaria News", that "After reviewing the draft general budget bill, the committee of economy and investment find that there are constitutional violation with respect to the general budget of the Federal fiscal year 2012, which has not been sent the final accounts for the year 2011 or even years past, "adding that" it is a constitutional violation of Article 62, paragraph First of Article 80, paragraph IV of the Constitution and the wonder of this offense. "
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He said Abboud, "We believe that not to send the final accounts and motivated, which is intended and can not accept any justification from the government in this regard ". Asserting that "do not send the final accounts can only be two explanations, namely the inability of government performance, and coverage of corruption associated with dealing with budget allocations and will favor the second interpretation."
noted Abboud that "government agencies when you need to allocations it sends the full requirements under the tables fundamentalist and classified in dust them with no room even for the challenged or ignored in whole or in part, but when asked to send revealed final accounts start stalling and procrastination."
stressed Abboud, "we are not willing to share the government in violation of the constitution and vote on the budget bill is not attached with the final accounts , "the statement said.
The Finance Committee of the Iraqi Council of Representatives has, in the 11 December 2011, the arrival of the General Budget Law for 2012 to Parliament, while it confirmed that some of the paragraphs need to be studied, indicated that it will be submitted to the House floor during the future meetings.
The head of the House of Representatives Osama Najafi had demanded, in the (November 28, 2011), the need to expedite the completion of the annual budget for the coming year during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into ventures and investments, as he emphasized the International Fund he is currently working to reduce and minimize the recurrent budget in the budget for Iraq in 2012.
and Prime Minister Nuri al-Maliki, (November 16, 2011), that the financial budget for the year 2012 will be forwarded to the parliament soon, adding that many countries agreed to implement projects in a payment on credit . The Ministry of Planning, announced (22 September 2011), that the financial budget for 2012, next will be between $ 112 and $ 120 billion, confirming that 35 percent of allocated budget investment, while the balance of 2011 the current 81.9 billion dollars deficit of $ 13.3 billion .
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Parliamentary economy: We will not endorse the budget 2012 of the final accounts without
Baghdad / agencies
threatened the economic and investment commission of parliament not to ratify the budget for next year unless they are sent the final accounts for the current year and prior years, stressing that it constitutes a constitutional violation of Article 62, paragraph First of Article 80, paragraph IV of the Constitution.
The secretary of the Committee Habib Ghali Abboud as "Alsumaria News", that "After reviewing the draft general budget bill, the committee of economy and investment find that there are constitutional violation with respect to the general budget of the Federal fiscal year 2012, which has not been sent the final accounts for the year 2011 or even years past, "adding that" it is a constitutional violation of Article 62, paragraph First of Article 80, paragraph IV of the Constitution and the wonder of this offense. "
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He said Abboud, "We believe that not to send the final accounts and motivated, which is intended and can not accept any justification from the government in this regard ". Asserting that "do not send the final accounts can only be two explanations, namely the inability of government performance, and coverage of corruption associated with dealing with budget allocations and will favor the second interpretation."
noted Abboud that "government agencies when you need to allocations it sends the full requirements under the tables fundamentalist and classified in dust them with no room even for the challenged or ignored in whole or in part, but when asked to send revealed final accounts start stalling and procrastination."
stressed Abboud, "we are not willing to share the government in violation of the constitution and vote on the budget bill is not attached with the final accounts , "the statement said.
The Finance Committee of the Iraqi Council of Representatives has, in the 11 December 2011, the arrival of the General Budget Law for 2012 to Parliament, while it confirmed that some of the paragraphs need to be studied, indicated that it will be submitted to the House floor during the future meetings.
The head of the House of Representatives Osama Najafi had demanded, in the (November 28, 2011), the need to expedite the completion of the annual budget for the coming year during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into ventures and investments, as he emphasized the International Fund he is currently working to reduce and minimize the recurrent budget in the budget for Iraq in 2012.
and Prime Minister Nuri al-Maliki, (November 16, 2011), that the financial budget for the year 2012 will be forwarded to the parliament soon, adding that many countries agreed to implement projects in a payment on credit . The Ministry of Planning, announced (22 September 2011), that the financial budget for 2012, next will be between $ 112 and $ 120 billion, confirming that 35 percent of allocated budget investment, while the balance of 2011 the current 81.9 billion dollars deficit of $ 13.3 billion .
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Sunday, December 11, 2011
Tuesday ~ Iraqi Parliament ~ House of Representatives to raise its seventh next Tuesday
11/12/2011
House of Representatives to raise its seventh next Tuesday
Sumerian News / Baghdad raised the Presidency of the Council of Representatives of Iraq, Sunday, the seventh meeting of the Council of Chapter II of the second legislative year to the next Tuesday, in a parliamentary source said that the meeting had to end the first and second readings for 13 of the draft law, and postpone the second reading of the proposed law credit fund students.
The source said in an interview for "Alsumaria News", "House Speaker Osama Najafi lift, this evening, meeting of the Council VII of Chapter II of the Year the second legislative held under his chairmanship and the presence of 210 deputies to be held next Tuesday (December 13 current), "noting that" the meeting had to end the first reading of the draft law on Iraq's accession to the International Treaty on Plant Genetic Resources for Food and Agriculture, and the draft law on ratification of the Convention on Technical Cooperation in the field of animal health between the Governments of Iraq and Jordan.
The source, who asked not to be named, said:
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"The meeting also saw the end the first reading of a draft law on ratification of the Convention on cooperation in quarantine and plant protection between the Governments of Iraq and Jordan, the bill reward faculty members, educational, and the draft registration law and the adoption of pesticides," he that "the meeting also included an end to the first reading of a draft law regulating the circulation of agricultural materials, and the draft registration law, adoption and protection of agricultural items."
The source pointed out that "the agenda of the meeting also included an end to the first reading of a bill quarantine, and the draft law the salaries of the staff of the Ministry of Oil" , asserting that "the parliament session also saw an end to the second reading of the bill abolishing the two 21 and 36 for the year 2005, and the draft law of the Fourth Amendment to the law of maintenance of irrigation and drainage No. 12 of 1995.
The source continued that The session saw an end to the second reading of Bill Fund support internal departments in the Ministry of Higher Education and Scientific Research, and the draft law regulating the provisions of the nomination for President of the Republic and the provisions of a deputy or more to him, "noting that" the Council decided to postpone the second reading of the proposed law credit fund students to the next meeting.
The source explained that "the Speaker of Parliament Osama Najafi confirmed that the next meeting will discuss the financial budget for the year 2012 in the case of access to Parliament, "asserting that" Parliament will be completed to host the Mayor of Baghdad Sabir al-Issawi in the event of non-arrival of the budget.
The Iraqi Council of Representatives held this morning, its seventh of the second semester of the year legislative the second led by Najafi and the presence of 210 deputies, with parliamentary source they will see the first and second readings of 14 of the draft law, most notably the law on the provisions of the nomination for president and a deputy or more for it.
The House of Representatives, raising in (November 30, 2011), held its sixth of the second legislative term of the second legislative year to the day Sunday, after he witnessed the interrogation of the Mayor of Baghdad Sabir al-Issawi, while the speaker decided to determine the future meetings to complete the interrogation.
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House of Representatives to raise its seventh next Tuesday
Sumerian News / Baghdad raised the Presidency of the Council of Representatives of Iraq, Sunday, the seventh meeting of the Council of Chapter II of the second legislative year to the next Tuesday, in a parliamentary source said that the meeting had to end the first and second readings for 13 of the draft law, and postpone the second reading of the proposed law credit fund students.
The source said in an interview for "Alsumaria News", "House Speaker Osama Najafi lift, this evening, meeting of the Council VII of Chapter II of the Year the second legislative held under his chairmanship and the presence of 210 deputies to be held next Tuesday (December 13 current), "noting that" the meeting had to end the first reading of the draft law on Iraq's accession to the International Treaty on Plant Genetic Resources for Food and Agriculture, and the draft law on ratification of the Convention on Technical Cooperation in the field of animal health between the Governments of Iraq and Jordan.
The source, who asked not to be named, said:
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"The meeting also saw the end the first reading of a draft law on ratification of the Convention on cooperation in quarantine and plant protection between the Governments of Iraq and Jordan, the bill reward faculty members, educational, and the draft registration law and the adoption of pesticides," he that "the meeting also included an end to the first reading of a draft law regulating the circulation of agricultural materials, and the draft registration law, adoption and protection of agricultural items."
The source pointed out that "the agenda of the meeting also included an end to the first reading of a bill quarantine, and the draft law the salaries of the staff of the Ministry of Oil" , asserting that "the parliament session also saw an end to the second reading of the bill abolishing the two 21 and 36 for the year 2005, and the draft law of the Fourth Amendment to the law of maintenance of irrigation and drainage No. 12 of 1995.
The source continued that The session saw an end to the second reading of Bill Fund support internal departments in the Ministry of Higher Education and Scientific Research, and the draft law regulating the provisions of the nomination for President of the Republic and the provisions of a deputy or more to him, "noting that" the Council decided to postpone the second reading of the proposed law credit fund students to the next meeting.
The source explained that "the Speaker of Parliament Osama Najafi confirmed that the next meeting will discuss the financial budget for the year 2012 in the case of access to Parliament, "asserting that" Parliament will be completed to host the Mayor of Baghdad Sabir al-Issawi in the event of non-arrival of the budget.
The Iraqi Council of Representatives held this morning, its seventh of the second semester of the year legislative the second led by Najafi and the presence of 210 deputies, with parliamentary source they will see the first and second readings of 14 of the draft law, most notably the law on the provisions of the nomination for president and a deputy or more for it.
The House of Representatives, raising in (November 30, 2011), held its sixth of the second legislative term of the second legislative year to the day Sunday, after he witnessed the interrogation of the Mayor of Baghdad Sabir al-Issawi, while the speaker decided to determine the future meetings to complete the interrogation.
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Finance Committee announces the arrival of budget 2012 to the House of Representatives
December 11, 2011Finance Committee announces the arrival of budget 2012 to the House of Representatives
Sumerian News / Baghdad
Announced that the Finance Committee in the House of Representatives of Iraq, Sunday, on the arrival of the General Budget Law for 2012 to Parliament, while it confirmed that some of the paragraphs need to study, she noted it will be submitted to the House floor during future meetings. A member of the Committee Nagia Najib said in an interview for "Alsumaria News", "General Budget Law for 2012, arrived to the Finance Committee in the House," indicating that "the Commission will meet, on Monday, to discuss paragraphs of the budget to decide then submitted to the parliament to read the first reading. "
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The answer that "the budget include the paragraphs need to be studied and approved of all the blocks," asserting that "the value of the budget of 117 trillion dinars, and the deficit 14 trillion dinars, considering the price of oil per barrel 85 dollars.
The Speaker Osama Najafi said, during a session of the seventh of the second semester of the year the second legislative held, today, that the next meeting to be held next Tuesday, will discuss the financial budget for the year 2012 in the case of access to Parliament.
The Finance Committee of the Iraqi Council of Representatives, confirmed, the end of November last, that the balance of 2012 will reach to the Parliament (this week) after the cut and the Ministry of Finance, the proportion of the deficit and the adoption rate of 85 dollars per barrel of oil, while it likely that the rate reduction to 115 trillion dinars.
The head of the House of Representatives Osama Najafi demanded, in the (November 28, 2011), the need to expedite the completion of the annual budget for the coming year during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into ventures and investments, as he emphasized the International Fund that is currently working on reduction and reduce the current budget in the budget for Iraq in 2012. and Prime Minister Nuri al-Maliki, (November 16, 2011), that the financial budget for the year 2012 will be forwarded to the House of Representatives soon, adding that many countries agreed to implement projects in a payment on credit.
The Ministry of Planning, announced (22 September 2011), that the financial budget for 2012, next will be between $ 112 and $ 120 billion, confirming that 35 percent were allocated to the budget of the investment, while the balance of 2011 the current 81.9 billion dollars deficit of $ 13.3 billion.
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Iraq's Economy and budget Allocations ~ Calls for the adoption of a parliamentary justice in allocations to the provinces ...
Monday, 12/12/2011Calls for the adoption of a parliamentary justice in allocations to the provinces
Baghdad / economic-term follow-up
member of the Committee called on the economy and investment Aziz Sharif Mayahi to the distribution of allocations of the justice of the development of regions, taking into account the privacy of poor provinces. Mayahi said, according to the independent press (Iba): The establishment of the government to double the financial allocations within the budget of 2012 for the development of regions.
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Will promote the service and the economic reality of the provinces and rapidly. He added that increased allocations must be accompanied by justice in the distribution, taking into account the privacy of the provinces that suffer deprivation Caldewanah, Muthanna, and Babylon.
He Mayahi: Local governments that is creating the specialized technical personnel and agreement with the qualified engineers to oversee the implementation of these projects and contracting with foreign companies, professional implementation.
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Friday, December 9, 2011
The Cabinet has passed its largest draft budget yet, calling for spending of 117 trillion Iraqi dinars
More @ Links ~*Iraq's 2012 Budget to have positive impact and .. Iraq's Budget Details ~ Dabbagh announced details of the budget: 117 trillion dinars federal budget for 2012
December 9, 2011
The Cabinet has passed its largest draft budget yet, calling for spending of 117 trillion Iraqi dinars ($97.5 million) next year, a 22 percent increase over 2011.
The budget reflects Iraq's priorities as it takes its first steps into full sovereignty, dedicating nearly half of state spending to three sectors: energy, security, and social services.
Iraq still depends almost exclusively on oil for its income. The budget anticipates revenues of 102 trillion dinars (about $85 billion), based ...
Continues ...read more ..
December 9, 2011
BAGHDAD – The Cabinet has passed its largest draft budget yet, calling for spending of 117 trillion Iraqi dinars ($ 97.5 million) next year, a 22 percent increase over 2011.
The budget reflects Iraq’s priorities as it takes its first steps into full sovereignty, dedicating nearly half of state spending to three sectors: energy, security, and social services.
Iraq still depends almost exclusively on oil for its income. The budget anticipates revenues of 102 trillion dinars (about $ 85 billion), based on projected oil exports of 2.6 million barrels per day (bpd) at a price of $ 85 per barrel, according to a Cabinet statement.
The projected deficit is 15 trillion dinars (about $ 12.5 billion). The Cabinet statement claimed the shortfall will be largely covered by a combination of excess cash from 2011 and existing reserves; the government also anticipates borrowing at least $ 2 billion, and as much as $ 6.5 billion, from the International Monetary Fund (IMF).
Iraq’s high revenue projections come weeks after the Oil Ministry announced October exports of just 2.09 million bpd – the lowest average since December, 2010. Exports rebounded in November to 2.135 million bpd, according to an Iraqi oil industry source.
Despite this uneven trend, Iraq is on pace to exceed the $ 82 billion in spending called for in the 2011 budget, which overestimated the year’s average exports at 2.2 million bpd but underestimated oil prices at $ 76.50 per barrel.
The projected increase in 2012 oil sales appears to count on two factors: expanding export infrastructure and increasing flow from the semi-autonomous Kurdistan region.
The Oil Ministry expects to boost export capacity by 700,000 bpd early next year through its Iraq Crude Oil Export Expansion (ICOEE) project. Having signed billions of dollars in contracts with Leighton Offshore and Italian firm Saipam, the ministry plans to add a total of 4.5 million bpd of exports by 2014.
To date, the flow of crude has been constrained by export pipelines that are years beyond their expiration dates and risk imminent failure. In bad weather, ships in the northern Arabian Gulf are often delayed when they cannot dock at old tanker terminals, also affecting exports.
Another constraint has been the political impasse between the Kurdistan Regional Government (KRG), which has signed oil and gas contracts with 43 companies, and the central government, which claims sole rights to sign such deals and calls the Kurdish contracts illegal. The dispute has often stymied the KRG’s ability to sell crude through Baghdad’s northern pipeline to the Turkish port of Ceyhan.
A political breakthrough in January re-started Kurdish exports, which are on target to average more than 100,000 bpd this year, according to KRG Minister of Natural Resources Ashti Hawrami. The 2012 budget anticipates Kurdish exports of 175,000 bpd, consistent with an agreement reached between Prime Minister Nouri al-Maliki and KRG Prime Minister Barham Salih in October.
Under a long-standing agreement, the KRG will receive 17 percent of the general budget – in this draft, 12.6 trillion dinars ($ 10.5 billion).
The single largest budgetary priority is the energy sector, which has been allotted 17 percent of the budget (20.46 trillion dinars, or $ 17 billion). Just behind energy, security will take 17.16 trillion dinars ($ 14.3 billion) and social services 15.54 trillion dinars ($ 13 billion).
The spending priorities reflect the anxieties and ambitions of the government, which survived the Iraqi aftershocks of the Arab Spring by promising improved services. Protesters began taking to the streets in January and February by the thousands demanding more electricity,
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December 9, 2011The Cabinet has passed its largest draft budget yet, calling for spending of 117 trillion Iraqi dinars ($97.5 million) next year, a 22 percent increase over 2011.
The budget reflects Iraq's priorities as it takes its first steps into full sovereignty, dedicating nearly half of state spending to three sectors: energy, security, and social services.
Iraq still depends almost exclusively on oil for its income. The budget anticipates revenues of 102 trillion dinars (about $85 billion), based ...
Continues ...read more ..
December 9, 2011
BAGHDAD – The Cabinet has passed its largest draft budget yet, calling for spending of 117 trillion Iraqi dinars ($ 97.5 million) next year, a 22 percent increase over 2011.
The budget reflects Iraq’s priorities as it takes its first steps into full sovereignty, dedicating nearly half of state spending to three sectors: energy, security, and social services.
Iraq still depends almost exclusively on oil for its income. The budget anticipates revenues of 102 trillion dinars (about $ 85 billion), based on projected oil exports of 2.6 million barrels per day (bpd) at a price of $ 85 per barrel, according to a Cabinet statement.
The projected deficit is 15 trillion dinars (about $ 12.5 billion). The Cabinet statement claimed the shortfall will be largely covered by a combination of excess cash from 2011 and existing reserves; the government also anticipates borrowing at least $ 2 billion, and as much as $ 6.5 billion, from the International Monetary Fund (IMF).
Iraq’s high revenue projections come weeks after the Oil Ministry announced October exports of just 2.09 million bpd – the lowest average since December, 2010. Exports rebounded in November to 2.135 million bpd, according to an Iraqi oil industry source.
Despite this uneven trend, Iraq is on pace to exceed the $ 82 billion in spending called for in the 2011 budget, which overestimated the year’s average exports at 2.2 million bpd but underestimated oil prices at $ 76.50 per barrel.
The projected increase in 2012 oil sales appears to count on two factors: expanding export infrastructure and increasing flow from the semi-autonomous Kurdistan region.
The Oil Ministry expects to boost export capacity by 700,000 bpd early next year through its Iraq Crude Oil Export Expansion (ICOEE) project. Having signed billions of dollars in contracts with Leighton Offshore and Italian firm Saipam, the ministry plans to add a total of 4.5 million bpd of exports by 2014.
To date, the flow of crude has been constrained by export pipelines that are years beyond their expiration dates and risk imminent failure. In bad weather, ships in the northern Arabian Gulf are often delayed when they cannot dock at old tanker terminals, also affecting exports.
Another constraint has been the political impasse between the Kurdistan Regional Government (KRG), which has signed oil and gas contracts with 43 companies, and the central government, which claims sole rights to sign such deals and calls the Kurdish contracts illegal. The dispute has often stymied the KRG’s ability to sell crude through Baghdad’s northern pipeline to the Turkish port of Ceyhan.
A political breakthrough in January re-started Kurdish exports, which are on target to average more than 100,000 bpd this year, according to KRG Minister of Natural Resources Ashti Hawrami. The 2012 budget anticipates Kurdish exports of 175,000 bpd, consistent with an agreement reached between Prime Minister Nouri al-Maliki and KRG Prime Minister Barham Salih in October.
Under a long-standing agreement, the KRG will receive 17 percent of the general budget – in this draft, 12.6 trillion dinars ($ 10.5 billion).
The single largest budgetary priority is the energy sector, which has been allotted 17 percent of the budget (20.46 trillion dinars, or $ 17 billion). Just behind energy, security will take 17.16 trillion dinars ($ 14.3 billion) and social services 15.54 trillion dinars ($ 13 billion).
The spending priorities reflect the anxieties and ambitions of the government, which survived the Iraqi aftershocks of the Arab Spring by promising improved services. Protesters began taking to the streets in January and February by the thousands demanding more electricity,
link
Thursday, December 8, 2011
Iraq's Budget Details ~ Dabbagh announced details of the budget: 117 trillion dinars federal budget for 2012
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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*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 2012December, 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.
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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.
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Iraq's Budget 2012 ..Meeting of the National Alliance today to discuss the budget of 2012 and Maliki's visit to Washington ...
Thursday, December 8, 2011Meeting of the National Alliance today to discuss the budget of 2012, Maliki's visit to Washington
Baghdad, Discusses the National Alliance at a meeting today, the most important files in the Iraqi arena as a counterbalance in 2012 and the upcoming trip of Prime Minister Nuri al-Maliki to the United States.
A member of the National Alliance on the mass of citizens Qasim al-Araji told all of Iraq [where] on Thursday that "the National Alliance held this evening meeting to discuss the budget in 2012 and a trip expected to Prime Minister Nuri al-Maliki to the United States this month, and proposals of the Sadrist movement, which includes three demands of their leader Moqtada al-Sadr ".
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"The meeting will also discuss the developments of the National Alliance of events in the province of Kurdistan, as well as post-American withdrawal from the country as well as political developments in the Iraqi arena."
The Iraqi arena is witnessing a lot of developments, notably near the U.S. withdrawal from the country end of the year, and some violations in the province of Kurdistan, and the announcement of details of the budget in 2012 and the amount of [117] trillion dinars.
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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
Thursday, November 8, 2011
Baghdad, Ministry of Finance announced reduction in grades Alozifahaljdidh budget for fiscal 2012 from [115] to the thousandth of a degree [59] A degree and functional.
The Finance Minister Rafie al-Issawi told a news conference premises of the Ministry attended the correspondent of the agency said Thursday that "the Ministry of Finance decided this reduction after studying the relevant committees in the ministry of this subject has been shown that the operational budget in the budget, public finance does not allow the appointment of all of this number, which is [115] Alpha also announced by the Parliamentary Finance Committee in the past and these scores will be presented to the House of Representatives to be voted on and approved with the federal budget and then distributed to ministries and government institutions according to their need of employees."
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He said al-Issawi, "The Ministry of Finance and after approving the budget in parliament will be put out all the benefits for borrowers in the housing fund and agricultural loans, industrial, and all loans other than the advance of the [100] salary because it is a private banker Rafidain and Rasheed and are responsible with them and not the Ministry of Finance."
The parliamentary Finance Committee has announced during a press conference in the parliament and attended by the correspondent [where] the existence of a [115] A degree of functional residing at Almoisma within the public finance of the state in 2012.
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Baghdad, Ministry of Finance announced reduction in grades Alozifahaljdidh budget for fiscal 2012 from [115] to the thousandth of a degree [59] A degree and functional.
The Finance Minister Rafie al-Issawi told a news conference premises of the Ministry attended the correspondent of the agency said Thursday that "the Ministry of Finance decided this reduction after studying the relevant committees in the ministry of this subject has been shown that the operational budget in the budget, public finance does not allow the appointment of all of this number, which is [115] Alpha also announced by the Parliamentary Finance Committee in the past and these scores will be presented to the House of Representatives to be voted on and approved with the federal budget and then distributed to ministries and government institutions according to their need of employees."
Continues ...read more ..
He said al-Issawi, "The Ministry of Finance and after approving the budget in parliament will be put out all the benefits for borrowers in the housing fund and agricultural loans, industrial, and all loans other than the advance of the [100] salary because it is a private banker Rafidain and Rasheed and are responsible with them and not the Ministry of Finance."
The parliamentary Finance Committee has announced during a press conference in the parliament and attended by the correspondent [where] the existence of a [115] A degree of functional residing at Almoisma within the public finance of the state in 2012.
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Monday, December 5, 2011
*Iraq Budget 2012 ~ Cabinet Passes Budget and will send to Parliament on Wednesday, December 7th, 2011 ...
Bumped ~ good news ... current articles below this one ...:)
05-12-2011
The Cabinet vote balancing 2012 worth 100 billion dollars and sent to Parliament on Wednesday
Baghdad (newsletter). The Cabinet voted Monday to the general budget for 2012 worth 100 billion dollars with a deficit of up to 14 billion dollars.
A source at the Board (Agency news News) Monday: the Board voted unanimously to balance 2012 worth 100 billion dollars on the basis of the sale price of $ 85 per barrel.
Source: the Council would send the budget to Parliament next Wednesday, for discussion and approval, such as the end of the current year.
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05-12-2011 The Cabinet vote balancing 2012 worth 100 billion dollars and sent to Parliament on Wednesday
Baghdad (newsletter). The Cabinet voted Monday to the general budget for 2012 worth 100 billion dollars with a deficit of up to 14 billion dollars.
A source at the Board (Agency news News) Monday: the Board voted unanimously to balance 2012 worth 100 billion dollars on the basis of the sale price of $ 85 per barrel.
Source: the Council would send the budget to Parliament next Wednesday, for discussion and approval, such as the end of the current year.
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Friday, December 2, 2011
***Watch For Iraq's 2012 Budget Revisions (IMF Recommendation) To Council of Ministers next week (Lets Hope By the 5th) ...
Could Be Related .. Monday, December 5th Central Banks in Joint Action to Boost Liquidity to Markets .. Also .. last month's article ~ November 15th ~ 2012 budget in line with the aspirations of Iraq's economic and will Enhance the Value of Iraqi Dinar" ... And .. 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?
02/12/2011
Iraq to cut the size of its budget for next year's general recommendations of the International Monetary Fund
Deputy Chairman of the Finance Committee in the Iraqi Council of Representatives, the Iraqi government's decision to reduce the size of the general budget of the country for the next year of 131 trillion dinars to 125 trillion on the back of recommendations from the International Monetary Fund, pointing out that it will forward the draft Law of the decision of the reduction to the House of Representatives during the coming period.
Ahmed said Jaoshin told the Kurdish news agency (Rn), "The Iraqi government decided to reduce the size of the general budget of the country for the next year from 131 trillion Iraqi dinars to 125 trillion dinars on the back of recommendations from the International Monetary Fund ...
Noting That "will forward the draft law the decision of the reduction to House of Representatives after approval by the Council of Ministers next week. "
He Jaoshin to "reduce the size of the general budget of the country for the next year will affect the share of the Kurdistan region of that budget, which amounted to 17%," explaining that "the region's share of the general budget of the country would be about 13% of the budget after the pre-deductible expenses sovereign and operating them."
For its part, said a member of the Finance Committee parliamentary Najiba Najib's (Rn), that "the general budget of Iraq for the next year is guessed depending on the reach of oil exports of the country's borders 2.0006 million barrels of oil per day at $ 85 U.S., while the adopted current year budget 2.0002 million thousand barrels of daily oil exports of the country at the same price."
She explained Najib that "the Iraqi government's decision to reduce the size of the budget year for the country for the next year at $ 6 trillion dinars came in implementation of the recommendations made by the International Monetary Fund," noting that "the decision of the reduction was a must for Iraq can borrow from the Fund in case the need arises In addition to the need for foreign companies investing in Iraq to deal with the Fund, which will not swim by the latter in the case of Iraq did not meet the recommendations."
Iraq has the fourth largest oil reserves in the world, and seeks to improve the quality of production by foreign companies operating in the oil fields, and access to the production of 12 million barrels in 2017.
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02/12/2011Iraq to cut the size of its budget for next year's general recommendations of the International Monetary Fund
Deputy Chairman of the Finance Committee in the Iraqi Council of Representatives, the Iraqi government's decision to reduce the size of the general budget of the country for the next year of 131 trillion dinars to 125 trillion on the back of recommendations from the International Monetary Fund, pointing out that it will forward the draft Law of the decision of the reduction to the House of Representatives during the coming period.
Ahmed said Jaoshin told the Kurdish news agency (Rn), "The Iraqi government decided to reduce the size of the general budget of the country for the next year from 131 trillion Iraqi dinars to 125 trillion dinars on the back of recommendations from the International Monetary Fund ...
Noting That "will forward the draft law the decision of the reduction to House of Representatives after approval by the Council of Ministers next week. "
He Jaoshin to "reduce the size of the general budget of the country for the next year will affect the share of the Kurdistan region of that budget, which amounted to 17%," explaining that "the region's share of the general budget of the country would be about 13% of the budget after the pre-deductible expenses sovereign and operating them."
For its part, said a member of the Finance Committee parliamentary Najiba Najib's (Rn), that "the general budget of Iraq for the next year is guessed depending on the reach of oil exports of the country's borders 2.0006 million barrels of oil per day at $ 85 U.S., while the adopted current year budget 2.0002 million thousand barrels of daily oil exports of the country at the same price."
She explained Najib that "the Iraqi government's decision to reduce the size of the budget year for the country for the next year at $ 6 trillion dinars came in implementation of the recommendations made by the International Monetary Fund," noting that "the decision of the reduction was a must for Iraq can borrow from the Fund in case the need arises In addition to the need for foreign companies investing in Iraq to deal with the Fund, which will not swim by the latter in the case of Iraq did not meet the recommendations."
Iraq has the fourth largest oil reserves in the world, and seeks to improve the quality of production by foreign companies operating in the oil fields, and access to the production of 12 million barrels in 2017.
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