An official source: the budget deficit in 2012, my guess

An official source: the budget deficit in 2012, my guess

05/07/2012 0:00

BAGHDAD – Al Sabah
government source confirmed the official that the deficit in the federal budget for the current year 2012 and $ 13.5 billion is the inability of my guess only, indicating that the public budgets for the years past did not record any deficit is real.
said government spokesman Ali al-Dabbagh’s (Center Brief for the Iraqi Media Network) “The deficit is something my view did not get that there was a deficit in the budget for previous years due to non-payment of the investment budget Balkamilh by the ministries and provinces and therefore did not arise deficit.”
The announcement of moving beyond the fiscal deficit in the current year budget after the government announced its ratification of the budget complementary, amounting to about 11 trillion dinars.
and The House of Representatives expressed concern that affected the state budget negatively decrease in oil prices in global markets and lack of access to the roof of the export oil planned in the budget and $ 2.6 million b / l.
acknowledged Iraq last February budget 2012, $ 100 billion dollars (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).
provides one of the terms of Iraq’s budget public in 2012 that “if the high price of oil to more than $ 85 a barrel, the 25 percent of Amounts in excess of the budget is distributed to citizens. ”
The government has set up a committee of the Ministries of Finance and Planning shall develop a mechanism to distribute funds to citizens.
Source: alsabaah