22/10/2010
The Iraqi government to discuss 2011 budget later this month
Baghdad, The adviser in the Iraqi government ended its mandate on Friday, the government will discuss the country's general budget for 2011 later this month after the end of the Ministry of Finance prepared.
Ahmed said Hehani of Kurdistan News Agency (Rn) that "the Council of Ministers will discuss with effect from 27 October the current budget in 2011, after The Ministry of Finance of preparation," pointing out that "it is possible to continue the budget discussion for several sessions according to the needs of each Ministry. "
The Hehani that "preparations were completed to discuss the budget in 2011, which will focus on aspects of service, scientific, and raising the standard of living of the citizens as well as addressing inflation," he said.
"The Economic Commission reviewed the draft paper provided by the Ministry of Finance, and found the address the reality of inflation, the financial institutions through the support of industrial productivity and urged the Ministry of Industry to turn them into profitable companies."
The Iraqi Finance Ministry announced last month that the finalization of the draft budget for Iraq in 2011, and the new budget allocates a large share of investment, and to support the government's development strategy that will continue for the next four years.
The initial budget for Iraq in 2011 about 86 billion and $ 400 million, assuming the price of oil is $70 per barrel, an increase of up to 14 billion dollars in the last budget.
In addition to the existing concerns of the late adoption of the budget for the lack of sessions of the Council of Representatives because of the government crisis, the experts in the field of economists argue that the budget did not address the issues of non notably inflation.
The economist said Ali al-Janabi's Xiaa (Rn) that "the budget in 2011 was unable to reduce the gaps facing the Iraqi economy, particularly with regard to inflation, which reached unprecedented levels in the country."
He explained that "the economic system in Iraq is still suffering from a clear gaps not addressed in the budgets of previous years, and signed the Ministry of Finance error itself in the budget next year," noting that "the gap on the major budgets is the lack of coordination between the Ministry of Finance on the one hand and the Central Bank of On the other hand."
According to the Financial Administration Act, No. 95 of 2004, the government should prepare a budget for the following year, in September of each year, in preparation for discussion at the House of Representatives for approval.
However, the meetings of the Iraqi Council of Representatives was not held until now because of the political blocs failed to reach understandings on the sovereign positions in preparation for the meetings and form the next government.
Many feel that the delay in adoption of the budget would put the country in the midst of another crisis, will reflect negatively on service projects and investment in the country.
And usually sees the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the many objections and criticism of certain paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies.
The House had previously acknowledged last January that the 2010 budget at 72 billion and $ 400 million deficit of $ 19 billion and $ 600 million, assuming the price of a barrel of oil at 62 dollars and 50 cents.
The Iraqi government to discuss 2011 budget later this month
Baghdad, The adviser in the Iraqi government ended its mandate on Friday, the government will discuss the country's general budget for 2011 later this month after the end of the Ministry of Finance prepared.
Ahmed said Hehani of Kurdistan News Agency (Rn) that "the Council of Ministers will discuss with effect from 27 October the current budget in 2011, after The Ministry of Finance of preparation," pointing out that "it is possible to continue the budget discussion for several sessions according to the needs of each Ministry. "
The Hehani that "preparations were completed to discuss the budget in 2011, which will focus on aspects of service, scientific, and raising the standard of living of the citizens as well as addressing inflation," he said.
"The Economic Commission reviewed the draft paper provided by the Ministry of Finance, and found the address the reality of inflation, the financial institutions through the support of industrial productivity and urged the Ministry of Industry to turn them into profitable companies."
The Iraqi Finance Ministry announced last month that the finalization of the draft budget for Iraq in 2011, and the new budget allocates a large share of investment, and to support the government's development strategy that will continue for the next four years.
The initial budget for Iraq in 2011 about 86 billion and $ 400 million, assuming the price of oil is $70 per barrel, an increase of up to 14 billion dollars in the last budget.
In addition to the existing concerns of the late adoption of the budget for the lack of sessions of the Council of Representatives because of the government crisis, the experts in the field of economists argue that the budget did not address the issues of non notably inflation.
The economist said Ali al-Janabi's Xiaa (Rn) that "the budget in 2011 was unable to reduce the gaps facing the Iraqi economy, particularly with regard to inflation, which reached unprecedented levels in the country."
He explained that "the economic system in Iraq is still suffering from a clear gaps not addressed in the budgets of previous years, and signed the Ministry of Finance error itself in the budget next year," noting that "the gap on the major budgets is the lack of coordination between the Ministry of Finance on the one hand and the Central Bank of On the other hand."
According to the Financial Administration Act, No. 95 of 2004, the government should prepare a budget for the following year, in September of each year, in preparation for discussion at the House of Representatives for approval.
However, the meetings of the Iraqi Council of Representatives was not held until now because of the political blocs failed to reach understandings on the sovereign positions in preparation for the meetings and form the next government.
Many feel that the delay in adoption of the budget would put the country in the midst of another crisis, will reflect negatively on service projects and investment in the country.
And usually sees the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the many objections and criticism of certain paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies.
The House had previously acknowledged last January that the 2010 budget at 72 billion and $ 400 million deficit of $ 19 billion and $ 600 million, assuming the price of a barrel of oil at 62 dollars and 50 cents.
