State law: the arrival of the budget 2013 to the House of Representatives after the holiday of Eid al-Adha

Admin Sun Oct 28, 2012 12:54 pm

Sunday, November 28 1 / Okrudolf 2012 11:42

{Baghdad: Euphrates News} MP for the coalition of state law Ibrahim al-Rikabi said the financial budget for the year 2013 will be presented to the House of Representatives after the holiday of Eid al-Adha.

Rikabi said in a statement to the Euphrates News Agency {} on Sunday that "the Council of Ministers has audited the budget year 2013 and discussed thoroughly discussed by the Ministry of Finance to assess the need for the state for the purpose of construction and reconstruction and Alroatib".

And pointed out that "the House of Representatives will discuss the financial budget after it reaches him and adds its own set of amendments and points which they can take advantage of the better budget."

The Cabinet had approved last week a draft budget of 2013 $ 138 trillion dinars (118.6 billion dollars) based on the price of oil at $ 90 a barrel and exports expected at 2.9 million barrels per day, and a deficit estimated 18.8 trillion dinars (16.17 billion dollars).

The deficit will be covered from untapped funds from the budget of 2012 or account of the Development Fund for Iraq at the Federal Reserve Bank of New York branch, domestic bonds, or of the expected surplus resulting from the rise in crude prices.

The budget includes 55 trillion dinars (47.29 billion dollars) for investment projects.

It is noteworthy that budgets Federal public takes a long time each year until it is approved by the House of Representatives, which is causing disabling most of the projects, underlining specialists that gives an excuse first companies implementing projects in the disruption or lag, which reflected negatively on the services.

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