#####Oman: Closure of the meetings of Iraq with the International Monetary Fund

12/15/2012
Said Iraqi Finance Minister Rafie al-Issawi said Iraq still expenses higher than revenue despite the increase in revenues this year due to rising world oil prices.

Issawi explained that the increase in the size of the federal budget for 2013 amounting to 138 trillion dinars came as a result of increased oil revenues, which amounted to 2 million and 900 thousand barrels per day and an average price of $ 90 per barrel.

The minister's comments came at the end of financial regular annual meetings between Iraq and the International Monetary Fund held in the Jordanian capital Amman and on the audit of the fiscal and monetary policy for Iraq as stipulated in Convention chock between them.

Issawi said the meetings, which lasted three days during which revision of the budget in 2012 and was implemented and international standards under which the preparation of the budget in 2013 and the mechanisms to control its budget deficit and principles adopted by the Central Bank of Iraq in maintaining the stability of prices and price
Abdul Basit Turki
Dinar exchange, and other issues.

The Chairman of the Board of Supreme Audit, Governor of the Central Bank of Iraq and the agency, Dr. Abdul Basit Turki said IMF officials have expressed their satisfaction at the meetings of the performance of financial management for the year 2012 and the commitment of the Ministry of Finance of international standards in the preparation of next year's budget.

Turki said that the International Monetary Fund reservation on a project to increase the salaries of employees, retirees and called on the Iraqi government to express its views on the subject.
The Iraqi delegation, which included meetings attended by senior officials in the finance ministries, planning and oil and the Central Bank of Iraq and the BSA.


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