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Iraqi government, discusses the 2012 budget mid-month
Baghdad, The Iraqi government said Tuesday it will discuss the country's budget for the 2012 mid-month in preparation for approval and sent to the House of Representatives.
Government figures indicate that Iraq's budget for next year will amount to 131 trillion Iraqi dinars (about $ 112 billion), up 36% from the current year budget and a deficit of 23.3 trillion Iraqi dinars (20 billion dollars).
The government says the deficit will be covered by the amounts of cash retained from the current year budget 2011 is internal and external borrowing and the proportion of savings is expected to increase selling prices or increased oil production or borrowing from the IMF and World Bank.
The chancellor said the government peace Quraishi, told the Kurdish news agency (Rn) that "the Council of Ministers will discuss in the 15 of this month's budget in 2012," noting that "the government will adopt the budget in line with the aspirations of Iraq's economic and enhance the value of Iraqi dinar."
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"The Ministry of Finance said it has completed the required procedures and took notes of the International Monetary Fund into account and will raise the budget to the House of Representatives by 20 this month, to be voted upon before the start of next year."
Economists and experts predict that delayed the budget in 2012 in the House of Representatives because of political differences between the parliamentary blocs typically arise with a discussion of financial budgets annually.
Iraq relies is a member of OPEC on oil revenues to finance about 95% of the annual budget.
Often delayed the adoption of fiscal balances in Iraq and voted on in the House of Representatives because of the differences between the political blocs.
The value of the current year budget approved in February 20 last, of which $ 82.6 billion $ 25.7 billion of investments.
Iraq has suffered from dilapidated infrastructure sectors in the overall result of long years of siege and war during the last two decades of the last century.
Despite the passage of eight years to topple the former Iraqi regime, the Iraqi government could not provide basic public services for citizens, which are often protesting the lack of it.
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