Iraq: Proposed 2012 budget redrafted after pressure pressed

[Stillw8n]

Iraq: Proposed 2012 budget redrafted after pressure pressed by World Bank

Financial re-drafting the budget 2012

Implementation of the agreements with the World Bank pressure expenditures
BAGHDAD – Wafaa Amer
Restored and the Ministry of Finance drafting the budget next year 2012 in light of the Convention concluded with the World Bank and the financial ceiling of up to about 130 trillion dinars, it is hoped to submit its final form to the Council of Ministers in the coming days.

An official source at the Finance Ministry said in a statement singled out the “morning”: The ministry formed a committee comprising representatives from the Ministries of Finance, Planning and the General Secretariat of the Council of Ministers, shall review the budget next year that has already been submitted to the General Secretariat of the Council of Ministers during September.
He said the move came in the light of the request made by the ministry to the General Secretariat of the Council of Ministers which was in the process of reading the budget, including restored to the ministry in order to re-formulated in harmony and agreement with the World Bank which requires the support of the investment budget compared to reducing the increase in operating expenses.

The source noted that this request came during visits and repeated meetings recently implemented between the Minister of Finance Dr. Rafie al-Issawi and World Bank officials who stressed the importance of the review of the agreements concluded between the two sides and evaluate the extent of compliance, as it demanded the World Bank need to rewrite the budget commitment to support investment allocations and pressure increase in operating expenses.

The source said that the committee was keen to re-drafting of going forward in ensure the optimum exploitation of the increase occurring by the amount of about 30 trillion dinars for the budget year 2011 amounting to 97 trillion dinars, pointing out that the draft budget submitted to the Council of Ministers within the next few days with a view to the completion of the read and approved by parliament before the end of this year.

http://bit.ly/svSvXm