Sun 06 Feb 2011Iraqi Government spokesman Ali Dabbagh
Sumerian news/Baghdad
The Iraqi Government has passed a budget this year Sunday, unmodified after increasing three billion dollars to become worth 81 $ 9.3 billion, with a deficit worth $ 13.3 billion, a Government spokesman confirmed that the Cabinet Finance Minister grants authority to borrow from the World Bank and IMF.
And the Iraqi Government spokesman Ali Dabbagh said in an interview for "Sumerian news," the Cabinet of Ministers approved at an extraordinary session, held on Sunday, to counterbalance the year 2011, valued 96.6 trillion dinars ($ 81.9 billion), after you make modifications and the addition of three billion dollars. "
Dabbagh said that "balancing operational expenses included, i.e. salaries and wages in particular, rose $ 56.4 billion, while capital spending of $ 25.4 billion, total income estimated 68.6 billion dollars on the basis of the export of 2.2 million barrels per day at $ 76.5 barrel including 100,000 barrels of Kurdistan".
Dabbagh said that "the value of deficit 15.7 trillion dinars ($ 13.3 billion), which will be covered from recycled surplus amounts in the balance 2010, internal and external borrowing and savings realized from increasing oil prices."
In another context Dabbagh said that "the Council of Ministers the granting of Finance Minister Rafe Al-Issawi power to borrow $ 4.5 billion from the IMF, and $ 2 billion from Bank".
Cabinet decided, at its regular meeting, held on 26 September, to approve the allocation of $ 900 million to buy aircraft F 16, on the amendments in the budget bill for fiscal 2011, also agreed to amend a barrel to $ 76.5 million establishments and 200,000 barrels per day.
Cabinet approved early last month, the general budget for the year 2011 deficit of $ 12 billion will be borne of amounts recycled last year budget and borrowing both internally and externally, stating that the projected revenue estimated at $ 66.7 billion expenditure amounted to 78.7 billion, or $ 12 billion dollar deficit, as the computation of income from export of crude oil at a rate of 37 per barrel averaging 2to 250 thousand barrels per day, including 150,000 barrels of crude oil exported from Kurdistan.
Sumerian news was received, last month, the amended version of the draft general budget law of the Federal Republic of Iraq to FY 2011 final amended after adding speculative cost hosting Arab Summit in Baghdad.
Bill amended to keep federal public budget revenue estimates for FY 2011 amount former (78.705.237.500.000) BD (seven hundred seventy-eight tirlion five billion two hundred and thirty-seven million five hundred thousand dinars) as key accounts, but the increase in budget deficits and expenditure so allocated $ (94.295.059.613.000) tirlion (ninety-four hundred and five thousand and ninety billion and fifty-nine million, six hundred and thirteen thousand dinars for FY 2011 parses as (field 3 total expenditures) (table b expenditure by ministries) of the Act.
The draft budget before the amendment stipulates that are allocated an amount of (92.980.582.970.000) two ninety nine tirilion and 180 billion, eight hundred and fifty million, and seven and ninety thousand dinars for FY 2011 parses as (field 3 total expenditures) (table b expenditure by ministries) of the Act.
As Bill calculation of revenue resulting from the export of crude oil on the basis of the average price of $ 73 a barrel, and the average export capacity (2250000) barrels per day ($ 150,000) barrels on income derived from crude oil exports by province of Kurdistan.
The Bill also provided that ministries and bodies that are not linked to the Ministry by being "closer" all amounts of cash grants, obtained under agreements with foreign Governments or institutions, as income to the federal Treasury and the Federal Ministry of finance for reassignment for purposes which have been granted, in coordination with the Federal Ministry of planning.
The project must be credited all amounts of cash that you get ministries and bodies that are not linked to the Ministry and irregular provinces province, after acceptance of the Cabinet, whether from foreign sources, Federal Minister of finance to the Federal Minister of finance for allocation of funds of the Ministry or the non-Exchange Department in accordance with the purposes for which was granted.
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