Finance Commitee Representatives: 2012 budget does not corre

[Stillw8n]

Finance Commitee Representatives: 2012 budget does not correspond with the federal system

Baghdad, January 3 (Rn) – The Finance Committee representative on Tuesday that the budget of 2012 allocated from the government does not comply with the federal system, passed by the Iraqi constitution, stating that the draft budget includes a lot of problems which must make adjustments, returned to the government again.

and endorsed the Iraqi government in its emergency meeting in early December last year 2012 budget by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17) trillion dinars. Focused on the energy sector and oil phase first, and then the security sector, and then the education sector, education and health.

and collide with approving the budget of the Iraq objections expressed by the House of Representatives on the aspects of exchange and the financial allocations and quotas provinces. A member of the Finance Committee Najiba Najib told the Kurdish news agency (Rn), “The Finance Committee, I have a lot of points and observations on the budget in 2012 and that makes them do not reflect the demands and wishes of the citizens in all governorates,” indicating that “in terms of the original must be budget-compatible and consistent with the Constitution, ie, that given the wealth and financial allocations and administrative authorities to the authorities of the regions and provinces more than the federal authorities. “

explained Najib that “Although some articles of the draft budget in 2012 has given these powers, but does not live up to the degree that ensures the federal system the federal which is not in the draft budget.”

The Government has adopted the Iraqi oil price basis of $ 85 and expects which differences in the price of oil to cover more than $ 10 billion deficit. 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 Fund IMF and World Bank.

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