Iraq .. $ 108 billion budget next year

Iraq .. $ 108 billion budget next year

07/25/2012

Palm – The Ministry of Planning planning budget for next year by $ 108 billion after the Council of Ministers approved last December on the budget year 2012 amounting to 117 trillion Iraqi dinars (100 billion dollars) a deficit of $ 17 trillion dinars, or $ 14.5 billion based on the price appreciation of oil of $ 85 a barrel and oil export volume 2.625 million barrels per day.

The Minister of Planning Ali Shukri: that the ministry has started to prepare a planning budget for 2013 which will be worth the projected $ 108 billion, explaining that the budget year 2013 will focus on economic development projects and that would revive the Iraqi economy.

The government is demanding each year in the House of Representatives to speed up adoption of the budget and not to delay it for a long time and the view of economists that the delay budgets hurt the economy and financial strategic projects significantly.

The Council of Ministers approved last December on the budget year 2012 amounting to 117 trillion Iraqi dinars (100 billion dollars) a deficit of $ 17 trillion dinars, or $ 14.5 billion based on the price appreciation of oil at $ 85 a barrel and oil exports volume 2.625 million barrels per day, but that the parliament approved after more than two months.
Source: nakhelnews