Finance Committee prepare a preliminary report for the budget 2013

The time on Sunday, November 11 2 / November 2012 11:25

Baghdad / Orr News

Parliamentary Finance Committee began to prepare a preliminary report submitted to the Presidency of the Council of Representatives on the budget of 2013, noting that a final report would be provided by the Commission prior to the vote on the budget. A member of the Committee Secretary Hadi said that "the Finance Committee began discussions of the federal budget for next year and there will be a preliminary report submitted to the Presidency of the Council of Representatives on the budget," noting that "the preparation of the report may require months or less." He said.

He added that "the Finance Committee will complete a final report on the budget after the completion of the first and second reading in order to be ready before the vote." He continued that "some paragraphs contained in the budget, known to many members of the House of Representatives being repeated every year and thus will contribute to this thing in shortening the time for approving the budget."

The parliamentary Finance Committee, on Thursday, the last on the draft federal budget will be put to a first reading next Monday. The Council of Ministers decided at its forty-sixth regular on 23 October 2012, approved a draft law the federal budget for 2013 of $ (138) trillion dinars, an increase of 18% from last year.

According to the project that the total federal income amounted to (119.3) trillion dinars were the result of calculating the revenues from export of crude oil at an average price (90) dollars per barrel and export capacity of up to (2.9) million barrels per day, including the quantity produced and exported from the Kurdistan region of the ( 250) thousand barrels per day.

The amount of the investment budget (55) trillion dinars and the operating budget (83) trillion dinars distributed to institutions, ministries and all state bodies where public expenditure will be distributed according to population ratios after excluding allocations of the federal ministry center and sovereign expenditure.


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