Parliament calls for financial transfer of funds to the Development Fund for compensation generations

10/06/2013 12:00 AM

Baghdad - شكران the Fatlawi

Iraq
is seeking to emerge from Chapter VII imposed on it since the nineties
of the last century, where pay under the sanctions imposed on it 5
percent of the total oil revenues to Kuwait as compensation established
by the United Nations under this chapter as Iraq has met its obligations
to pay 41 billion dollars to Kuwait in compensation for war Iraq and
Kuwait and
paid for by the Iraqi people as a result of the reckless policies of
the former regime, where this amount is significant, affecting the size
of fiscal revenue that comes to Iraq annually.


A
member of the Finance Committee MP Haitham al-Jubouri "morning" that
the last remaining of indebtedness of Kuwait will end in 2014/2015
noting that the money deducted from the investment budget and
operational should take advantage of them in the areas of serving the
country's economy a proposal to establish a fund called Fund
"Development of generations," which is a
box placed by the amounts that would have been deducted for Kuwait's
debts amounting to 5 percent of the total oil revenue after repayment
plus additional amounts again turning to the fund intended to benefit
future generations in the future.


He
noted Jubouri the importance of protecting future generations from
expectations depletion of oil in the long term, noting that this fund
will enable them to meet the challenges of the future while not be their
imports or stocks can be used and said that this amounts to Atbaky
مدخرة but Ststthmrtan supervision of the Commission, Ministry of Finance
and Planning and the Ministry of Labour and Social Affairs in order to development
and expansion., and said that this proposal will be concluded to turn
it into law and it is in its first steps to enter into force reasoned
that the money that was deducted as compensation under Chapter VII will
go to this fund instead of changing the investment budget and exposure
to waste or corruption.

explained Jubouri Negotiations
are continuing between the two sides and will give a positive and
tangible results in terms of the agreement to repay the debt and the
demarcation of the border in accordance with the regulations and
international legislation and thus will lead to definitively remove Iraq
from Chapter VII what would have complete freedom to dispose of his
money and build its economy.

Jubouri
limp on the need to build the Iraqi economy by building a useful
productive sectors that these sectors are not active in the components
of GDP and this unilateral Miakd the economy of Iraq, stressing the need
to be an effective contribution.


He
Jubouri experiences the world in this area, although it does not have
what Iraq has the material and human resources and archaeological sites
and tourist competencies in various fields, but you find has achieved
great diversity in its economic resources so it should be given to these
activities, more attention, he said., And called for the need to there
is harmony between the legislative and executive powers in order to
reach building strategy successful with an economic dimension, pointing
out that the Ministry of Finance claim to be a contributing factor in
the development of the strategy required to balance and this requires a
specialized real in the preparation and take the points raised, which
was attended by World Bank seriously.


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