01/11/2010
Iraqi Finance reveal a decline in the cash budget gap in 2011
Baghdad, The Iraqi Ministry of Finance, on Monday, the gap from the lower cash balance in 2011 by 12% percent from the 2010 budget.
An advisor to the Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that "the cash gap in the budget of 2011 decreased by 12% over the 2010 budget," noting that "this percentage is considered good and will be dealt with inflation in the market place Iraq's economic."
"The Ministry of Finance has developed a priority for the economic problems suffered by the Iraqi market, such as inflation and the economic gap and pressure and other social expenditures."
The CBI said earlier the stability of the rate of inflation by 1.9%.
The Council postponed the prime minister to discuss the budget in 2011 to the current week, in order to address the problem of oil prices on the difference between the ministries of finance and oil ministries.
According to the Financial Administration Act, No. 95 the year 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.
And the International Monetary Fund agreed yesterday to grant the amount of $ 741 million as part of a loan of $ 3 billion and $ 700 million to Iraq to support the budget in 2011.
He adviser to the Ministry of Finance that "the budget in 2011 fiscal policy consistent with the International Monetary Fund, which provides Iraq with loans continued."
He pointed out that "the Ministry of Finance and Central Bank of Iraq in 2011 will make a host of financial reforms to provide a suitable environment for the borrowing of funds from international banks and economically developed countries as well as the International Monetary Fund."
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.
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 Ministry of Finance announced that the International Monetary Fund pledged to activate its role in Iraq, after he called the need for semi-radical changes in the tax system as a prerequisite for granting loans and to support its projects.
Iraqi Finance reveal a decline in the cash budget gap in 2011
Baghdad, The Iraqi Ministry of Finance, on Monday, the gap from the lower cash balance in 2011 by 12% percent from the 2010 budget.
An advisor to the Ministry of Finance Zia Alckheon Kurdistan News Agency (Rn) that "the cash gap in the budget of 2011 decreased by 12% over the 2010 budget," noting that "this percentage is considered good and will be dealt with inflation in the market place Iraq's economic."
"The Ministry of Finance has developed a priority for the economic problems suffered by the Iraqi market, such as inflation and the economic gap and pressure and other social expenditures."
The CBI said earlier the stability of the rate of inflation by 1.9%.
The Council postponed the prime minister to discuss the budget in 2011 to the current week, in order to address the problem of oil prices on the difference between the ministries of finance and oil ministries.
According to the Financial Administration Act, No. 95 the year 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.
And the International Monetary Fund agreed yesterday to grant the amount of $ 741 million as part of a loan of $ 3 billion and $ 700 million to Iraq to support the budget in 2011.
He adviser to the Ministry of Finance that "the budget in 2011 fiscal policy consistent with the International Monetary Fund, which provides Iraq with loans continued."
He pointed out that "the Ministry of Finance and Central Bank of Iraq in 2011 will make a host of financial reforms to provide a suitable environment for the borrowing of funds from international banks and economically developed countries as well as the International Monetary Fund."
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.
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 Ministry of Finance announced that the International Monetary Fund pledged to activate its role in Iraq, after he called the need for semi-radical changes in the tax system as a prerequisite for granting loans and to support its projects.
