Financial representative says that the money retained in the Iraq Trust Fund will cover the budget deficit

07/05/2012 18:45

Baghdad, May 7 / May (Rn) – The Finance Committee representative on Monday that the money retained in a fund to support Iraq’s (DFI) will cover the budget deficit this year of $ 13.5 billion, indicating that the deficit situation in the budget as the number of speculative and not real. acknowledged the Iraqi Council of Representatives In February last budget in 2012 which amounted to about $ 100 billion and a deficit of up to $ 12.6 billion. has been established the Development Fund for Iraq in May 2003, by the Coalition Provisional Authority has been recognized under the UN Security Council resolution. and authorized the Iraqi authorities and the Washington Department of Development Fund for Iraq after the dissolution of the Coalition Provisional Authority in June 2004 and until 31 December 2007. said committee member Najiba Najib told the Kurdish news agency (Rn) that “the deficit, which put in the budget this year is the inability of speculative scheme is not real and will not affect the total amount Federal budget. ” Najib explained that “the money retained in the Development Fund for Iraq sufficient to meet the shortfall in the current year budget.”She said. Iraqi authorities say the money spent from the “Development Fund for Iraq,” the U.S. government is authorized to act yet with 2003 and believed to be its fate is unknown.acknowledged U.S. officials in June last the disappearance of $ 6.6 billion to fund the reconstruction of Iraq, but Iraqis say about $ 17 billion lost and stolen by American institutions. From: Raman Brosk. Open: Abdullah Sabri