Analytical study: Economic analyst emphasizes the diversific

[Stillw8n]

Analytical study: Economic analyst emphasizes the diversification of income sources in the federal budget

Baghdad (news) .. said analyst economy cute Abdul Salem Ugaili the importance of a budget bill to invest in the future, through the rehabilitation of economic sectors and the provision of infrastructure and services through investment, calling attention to the private sector and work on financial diversification of income for the state’s annual report.

said Ugaili in the analytical study prepared by the (agency news) on Monday: The state budget as the estimated outline is supported contains a general revenue that is expected to be collected by the state, and public expenditure to be spent during the financial year to come, Valmoisna serves as the program’s financial plan for fiscal year future in order to achieve specific objectives within the framework of the general plan for economic and social development of the state.

The Ugaili in the study: that according to this statement, estimated to be adopted by the legislature in the State reflects the state revenues and expenditures in the form of monetary units reflect the content of the state plan for the financial year specific, noting that the law of the general budget is a plan of administrative leadership for the implementation of policies for the next set duration as is the customary one year.

He pointed to: that the adoption of the Law of the Iraqi budget for the current year 2012, is one of the most important files before the table of the Iraqi parliament, where the that ratification is still hostage to the position of the second reading in the parliament which was to be completed in a session of the House of Representatives last week after it could not be established due to lack of quorum, which imposed on the Iraqi Parliament Speaker Osama Najafi, who demanded the end of November of last year that expedite the completion of the annual budget for the year 2012, during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into ventures and investments, which led to the lifting of the parliamentary session and the request to the Board members to attend the next meeting.
attributed Ugaili his study that the general budget for 2011, voted on by the House last year after it was prepared based on the rate of (76.5) dollars on average for the price of a barrel of oil, and exportation capacity of up to 2.0002 million barrels a day, including (100) thousand barrels was to be exported from the territory of Kurdistan , amounted to about (93) trillion dinars deficit reached (14) trillion dinars.

It draws attention to the value of operating expenses in this budget amounted to (64) trillion dinars, tribes have 29 trillion dinars have been allocated to investment expenditures.

and Ugaili that some indicators of public budget for Iraq in 2012, has been made ​​clear by the announcement by the Ministry of Planning and Development Cooperation in September last year, the budget for Iraq in 2012, is the second largest budget in the Arab world, with reference to the acquisition of oil and electricity sectors on the lion’s share of the investment budget allocations for the current year 2012.

And adds to it what He stood for a press conference, Finance Minister Rafie al-Issawi, who held in the eighth month of December of last year, and explained through the fact that throughout the Iraqi budget for 2012, amounted to (117) trillion dinars and, to a deficit of up to (14) trillion dinars . Which represents (10%) of gross domestic product (GDP) and (12%) of the total budget, with a share of the operational budget of which (80) trillion dinars, while the allocated budget for investment (37) trillion dinars.

The Ugaili in his study that the President Iraqi Council of Representatives Osama Najafi, has criticized the federal budget for the year (2012) during his speech earlier this year in the House of Representatives on the occasion of the U.S. withdrawal from Iraq; because of lack of service projects.

and warned Ugaili that the current year budget was characterized by an increase in operating expenses at the expense of investment expenditure , which will lead, according to Chairman of the House of Representatives to inadequate financial allocations to meet the need of the service sectors that can improve the links human development different for the better.

He stressed that there should be a high priority for social services, education, health, and increase allocations of development of regions and to support civil society organizations for the welfare of the biggest for the citizen and finding urgent solutions to the ceiling specified time and is known for major crises afflicting our people.

He said economic analyst: that we are aware of the importance of the general budget, as a plan of administrative leadership for the implementation of policies for the next set duration as is the customary one year, called on the government to adopt standards generally accepted in the literature that contribute to the economic success of their mission to reverse the economic and social trends that aspire to achieve during the fiscal year. Perhaps in the introduction to the preparation of estimates on the basis of prices Aldnip oil in order to avoid fluctuations in global markets and to preserve the facilitating factor flexibility in the face of emergencies and potential crises.

He stressed in his attention to the subject of diversification of income sources, as is the case in the Gulf States oil, in addition to supporting the private sector commensurate with its importance; for rehabilitation to help with the rest of the sectors to contain the budget deficit, and participation in support of investment expenditure to ensure the establishment of infrastructure for the various sectors of the country, and in the forefront of basic services, especially health, education and municipal services that still need to qualify many of the joints and the development of each other.

He concluded his study of economic analytical analyst saying that the budget is the philosophy of economic and social objectives should be clear for future investment.

http://bit.ly/AmTm1P