Iraq to Approve 2013 Budget of 138 Trillion Dinars This Month

By Khalid Al-Ansary - Oct 4, 2012 5:52 AM MT


Iraq’s government plans to adopt a 2013 federal budget of 138 trillion dinars ($118.5 billion) by the end of this month, according to Ali al-Allaq, general secretary of the cabinet.

The cabinet held a first discussion about the 2013 budget after receiving the draft from the finance ministry, he said in an interview in Baghdad today.

The budget has to be approved by parliament once the draft is approved by the cabinet, he said.


http://www.bloomberg.com/news/2012-10-04/iraq-to-approve-2013-budget-of-138-trillion-dinars-this-month.html

Wow the budget's starts at 108b and it gets to ?


Iraq’s 2013 budget projected at $108 billion…

Babinaoz (Reuters) – The Ministry of Planning planning budget for next year by $ 108 billion. The Minister of Planning Ali Shukri: “The Ministry has started the preparation of the planning budget for 2013 which will be worth the projected $ 108 billion.” And explained that “the balance of 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. In the view of economists that the delay budgets, the financial detriment of the economy and strategic projects significantly.

And ratified the Council of Ministers 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 is 85 dollars per barrel and oil export volume 2.625 million barrels per day, but that the parliament approved after more than two months.
Posted 25/07/2012 09:26 AM

babnews

Iraq reveals 2013 budget proposal at 113 bln USD
2012-09-24 08:54:36 GMT2012-09-24 16:54:36(Beijing Time) Xinhua English

Iraq's preliminary budget proposal for next year is about 113 billion U.S. dollars, with an operating budget of 69 percent, an Iraqi official newspaper said on Monday.

"The proposed budget for 2013 is based on an average oil price of 85 dollars per barrel with export of 2.6 million barrels of crude oil per day (bpd)," the state-run al-Sabah newspaper quoted the minister of planning Ali Youssef Al-Shukri as saying.

The budget also referred to the share of Iraq's northern region of Kurdistan which valued 17 percent of the budget after deducting some public expenditure, including Kurdistan's share of money paid by Baghdad for providing subsidized food staples for the people in the region, the paper said.

According to the Iraqi law, the draft budget will need to be discussed and approved by the Iraqi cabinet and the parliament before being finally approved by the presidency.

If proved, the budget will be the biggest in Iraq since the establishment of first government of modern Iraq in 1921.

The Iraqi budget of 2012 valued 100 billion dollars based on the average oil price of 85 dollars per barrel and 2.6 million bpd in crude exports, similar to the expected price and amounts of crude exports in 2013.

The country depends on oil revenues for nearly 95 percent of its budget.


http://english.sina.com/world/2012/0924/509641.html