World Bank: fiscal surplus of Iraq in 2011 with a $ 20 billion

22/02/2012 15:11

Iraqi dinar, Iraq moneyBaghdad, February 22 (Rn) – The World Bank said on Wednesday that the value of fiscal surplus in the budget for Iraq in 2011 past $ 20 billion, warned at the same time of the introduction of payment on credit. needs of Iraqi cities strongly to the funds to build infrastructure that devastated by years of war, sanctions and acts of violence, protesting citizens on an ongoing basis on the lack of basic services that could not successive Iraqi governments to provide them despite the passage of nearly nine years to overthrow the former regime.But the violence and corruption deprived Iraq of investments during the years of conflict that followed the fall of the former regime In the spring of 2003, while moving the rebuilding process slowly. expert said at the World Bank Majid picture, told the Kurdish news agency (Rn) that “the value of fiscal surplus to the budget in 2011 amounted to $ 20 billion, one of the budgets of the provinces that did not happen by 85%.” said “The Iraqi government has to take advantage of fiscal surpluses since 2004 to 2011, which amounts to about $ 80 billion.” and pointed out the picture that “the payment system on credit is not successful and the government not to work it because it hinders projects of investment and economic development in the country and increase the debt Iraq. ” The Central Bank of Iraq said on Wednesday, said he encourages the Government the introduction of payment on credit and attributed it to, it contributes to encouraging international companies to enter the Iraqi market, stressing that monetary policy is not affected by the application of this method. and is expected to approve the House of Representatives during the next few days the country’s budget for the current year, which amount to 100 billion dollars (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars). From: Jafar Allonan. Open: Abdullah Sabri