Tuesday, October 19, 2010
Raise the Financial Budget of 2011, Amounting to More than 100 Trillion Iraqi Dinars to the House of Representatives
The Ministry of Finance, on Tuesday, the completion of the preparation of the budget for the Iraqi State in 2011 and submitted to the Iraqi Council of Ministers, pointing out that the investment side of the budget will face a big problem in the absence of House of Representatives held its meetings for approval, while some expressed reservations about the World Bank's decision to raise zeros from the Iraqi currency.
He said Undersecretary Fadel prophet in an interview with "Alsumaria News", "The Ministry of Finance has completed the preparation of the state budget for 2011 in 16 of last September and submitted to the Council of Ministers to be considered by the Economic Commission of the Council," noting that "the Committee will consider the budget next week for comments to be to tweak them by the Ministry and brought back to the Council of Ministers in turn brought to the House of Representatives for approval. "
He explained that the prophet "by the budget includes total expenditures of the Iraqi state, amounting to 102.5 trillion Iraqi dinars, equivalent to 87 billion U.S. dollars," noting that "75 trillion Iraqi dinars is to balance the operational budget and the remaining investment."
And between the Under-ministry "for the state a specific date to raise the budget to Parliament and is the second half of the tenth month," pointing out that "the current political situation and the delayed formation of the government will necessitate we increase the budget in its final form to the House of Representatives during the current month or the beginning of next month."
He said the Prophet that "delayed budget comes because of the lack of meetings of the House of Representatives and the problems of forming a new government, which could delay the ratification of the budget of 2011 before the House of Representatives," stressing that "the problem in the investment side will appear in the state not to ratify it in time."
The undersecretary of the ministry that "the state ministries and departments not associated with the Ministry will be spent from the operating budget if it is not approved on the state budget, as the ministry can not exchange the investment side to the ministries only after ratification," noting that "all investment projects will be delayed so much be approved. "
In connection with decision to raise zeros from the Iraq process, Undersecretary of the Ministry of Finance said that "this decision in the Monetary Policy of the Central Bank which is independent from the Ministry of Finance and we have no formal relationship with him except for the coordination process," noting that "the Ministry of Finance expressed concern of some of corruption that occurs when you convert the currency from the old to the new as well as the economic impact on the market and the ordinary citizen is negative. "
The Iraqi central bank announced mid-September last, his willingness to delete the zeros of the Iraqi currency after the formation of the Iraqi government directly, pointing at the same time that those zeros that are added to the Iraqi currency during the last period formed a cluster of large cash amounted to 27 trillion Iraqi dinars.
The Council of Ministers approved in its session of the thirteenth month of October of last year, the federal budget for 2010 in the amount of time 83 trillion Iraqi dinars, including the supplementary budget for 2009, amounting to five trillion and 300 billion, was approved by the House of Representatives in December the second from last year, also asked the provinces to increase their share of the budget at the time
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He said Undersecretary Fadel prophet in an interview with "Alsumaria News", "The Ministry of Finance has completed the preparation of the state budget for 2011 in 16 of last September and submitted to the Council of Ministers to be considered by the Economic Commission of the Council," noting that "the Committee will consider the budget next week for comments to be to tweak them by the Ministry and brought back to the Council of Ministers in turn brought to the House of Representatives for approval. "
He explained that the prophet "by the budget includes total expenditures of the Iraqi state, amounting to 102.5 trillion Iraqi dinars, equivalent to 87 billion U.S. dollars," noting that "75 trillion Iraqi dinars is to balance the operational budget and the remaining investment."
And between the Under-ministry "for the state a specific date to raise the budget to Parliament and is the second half of the tenth month," pointing out that "the current political situation and the delayed formation of the government will necessitate we increase the budget in its final form to the House of Representatives during the current month or the beginning of next month."
He said the Prophet that "delayed budget comes because of the lack of meetings of the House of Representatives and the problems of forming a new government, which could delay the ratification of the budget of 2011 before the House of Representatives," stressing that "the problem in the investment side will appear in the state not to ratify it in time."
The undersecretary of the ministry that "the state ministries and departments not associated with the Ministry will be spent from the operating budget if it is not approved on the state budget, as the ministry can not exchange the investment side to the ministries only after ratification," noting that "all investment projects will be delayed so much be approved. "
In connection with decision to raise zeros from the Iraq process, Undersecretary of the Ministry of Finance said that "this decision in the Monetary Policy of the Central Bank which is independent from the Ministry of Finance and we have no formal relationship with him except for the coordination process," noting that "the Ministry of Finance expressed concern of some of corruption that occurs when you convert the currency from the old to the new as well as the economic impact on the market and the ordinary citizen is negative. "
The Iraqi central bank announced mid-September last, his willingness to delete the zeros of the Iraqi currency after the formation of the Iraqi government directly, pointing at the same time that those zeros that are added to the Iraqi currency during the last period formed a cluster of large cash amounted to 27 trillion Iraqi dinars.
The Council of Ministers approved in its session of the thirteenth month of October of last year, the federal budget for 2010 in the amount of time 83 trillion Iraqi dinars, including the supplementary budget for 2009, amounting to five trillion and 300 billion, was approved by the House of Representatives in December the second from last year, also asked the provinces to increase their share of the budget at the time
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