September 14, 2009

Minister of Finance: Adoption of the supplementary budget would lead to a financial deficit of up to ten trillion dinars

Compatibility of the project and rejects calls for municipalities to accelerate the vote by بغداد - الصباح BAGHDAD - morning

Finance Minister Bayan Jabr said that approving the supplementary budget for the current year would result in a shortfall in 2010 budget up to ten trillion dinars. The Minister of Finance statement issued by the transfer of a meeting held recently, Collection of al-Zubaidi, the Finance Committee in the House.

The statement, which received a "morning," a copy of it, a lesson that both sides of the draft supplementary budget bill for the year 2009 in order to complete its final report on it and presented to the House of Representatives to decide. The First Deputy Speaker Sheikh Khalid al-Attiyah He said he hoped to vote on the draft supplementary budget later this week, after he completed the first reading of the Parliament of the project.

The Minister of Finance according to the statement, a brief review of the state's monetary budget for the period from 2009/6/30 until 2009/12/31 account balance including Iraq's Development Fund for Iraq (DFI) and expenditures and projected income. Zubaidi stressed that the passage of the supplementary budget will result in a shortfall of real in the 2010 budget ranges between (8 - 10) trillion dinars.

The statement continued: Finance Minister in the meeting reviewed the achievements made in Iraq for meetings with the IMF, and that Iraq has succeeded in winning approval for soft loans with an interest rate not to exceed (1 percent) with a grant will have a significant impact in supporting the budget.

In the meantime, the Iraqi Accordance Front said it "is not with the approval of the supplementary budget this year for lack of sufficient time to spend that budget."

Abdul Karim al-Samarrai MILF vice chairman: "The current budget deficit and therefore should not approve a supplemental budget because it would increase the budget deficit," indicating that "it was better to not submit a budget year 2010 instead of the supplementary budget to redress the imbalance and the citizens that need our attention to exchange the money for it.

On the other hand, demanded that the Ministry of Municipalities and Public Works House of Representatives to speed up ratification of the supplementary budget to cover the benefits of water projects.

A source at the ministry press statement, "The Ministry has completed a number of projects in the provinces is waiting for the launch of the supplementary budget for the purpose of paying the dues of companies implementing these projects," saying there was "urgent projects, including water desalination and treatment of water scarcity and salinity in a number of provinces to be performed