21/10/2011 14:54
Baghdad, October 21 / October (Rn) – The parliamentary Finance Committee on Friday that the Iraqi government decided to adopt the price of oil is $ 80 a barrel instead of $ 85 in the 2012 budget pursuant to the observations of the International Monetary Fund.
Said committee member Abdul-Hussein al-Yasiri told the Kurdish news agency (Rn) that “the Iraqi government re-file the budget in 2012 to the Ministry of Finance to amend the prices of crude oil on which the budget and reduced from $ 85 to $ 80 a barrel oil.”
He added that “the government to re-file the budget to meet the objections of the International Monetary Fund and the importance of advisory opinion and the door of economic prudence and caution in building financial budgets.”
He pointed out that “the legislative recess for the Iraqi Council of Representatives do not affect the approval of the budget in 2012 before the start of next year with a private guide and the Ministry of Finance for the use of experts, specialists develop financial budgets.”
The government spokesman Ali al-Dabbagh has made a press statement earlier last month (18/09/2010) that the Cabinet discussed at its extraordinary bill the federal budget for 2012 noting that he has been allocated $ 131 trillion Iraqi dinars ( $ 112 billion) total federal counterbalance an increase of 36% from last year.
Al-Dabbagh said that “total federal income amounted to 107.7 trillion dinars (about $ 92 billion) deficit total of $ 23.3 trillion Iraqi dinars (20 billion dollars) are covered by the amounts of cash retained from the current year budget 2011 is internal and external borrowing and the proportion of of the savings expected from the increase in selling prices or increased oil production or borrowing from the IMF and the World Bank. “
http://bit.ly/pgDpDE
