##### Finance parliamentary: No supplementary budget this year

Remember this is the House of Representatives speaking




07/21/2013 12:00 AM

Denied if there is any indication of the collapse of the dinar prices .. And revealed a tendency to reduce the budget of the House of Representatives
BAGHDAD - Alaa al-Tai


Denied the Finance Committee in the House of Representatives and a supplemental budget this year because of a financial deficit true in the budget because of the lack of imports sale of crude oil for the first six months of this year.

 As confirmed trend to reduce the size of the budget the House of Representatives and only what is necessary only, suggested postponing Multi deletion of zeros currency to the next parliamentary session.

and House of Representatives passed last March balancing the country's financial for the current year of $ 118 billion, the largest in the history of Iraq.

 was the Finance Committee had predicted last June that the government provides supplementary budget for the current year worth $ 14 billion.

 Known as the supplementary budget as additional budget that is prepared after six months of the year to adjust the additional expenses and additional revenue as well. Fiscal deficit

Chairman of the Finance Committee parliamentary Haider al-Abadi said in a statement »Center Brief for the Iraqi Media Network», that «the supplementary budget was not up to the House of Representatives this year due to a shortfall real budget».

 Added Abadi said, according to the government's expectations, there will be a supplementary budget will be canceled for this year due to lack of imports sale of crude oil for the first six months of the year, contrary to expectations and estimates reflected on the supplementary budget, which is known to be based on the budget surplus for the first half of the year.

said Abadi he was supposed to reach the supplementary budget to parliament early July As in previous years, but the lack of imports sale of crude oil for the first six months, which depend on the state budget, mainly led to the deficit true in the general budget, and therefore there will be no surplus, and there will be a supplemental budget.

 noted that the supplementary budget submitted by the government, the public the last of $ 10 billion, but the parliament rejected been recycling amounts to the current year budget., and on balancing the House of Representatives, among Abadi that his committee is still discussing the budget presented by the House of Representatives, as the Committee began last week studied to give some suggestions them and refer them then to vote .

Parliament's budget reduction

The head of the existence of a tendency to reduce the budget of the House of Representatives for the current year for the previous years except for the pressing issues related to the work of Parliament, noting that the draft budget of the Council for this year included a request 118 degrees and careers, in addition to monitoring the funds for the completion of building of the House of Representatives extends over five years, He pointed out that the budget include details concerning the Council and work there and appointments in general.

 expressed MP for the ambitious committee to reduce the budget of the Council rather than increase, indicating that the Commission rejected for the past two years demand for a car extra to the Presidency and members of the Security Council. indicated that the House of Representatives voted on the budget for the year 2012 of $ (470) billion dinars.

Dinar exchange rate

Chairman of the Committee also denied the existence of any financial indicators for the collapse of the Iraqi dinar exchange rates, believing that the Iraqi dinar remains strong prices for inflation.

Ebadi said: It is, according to market data, it does not exist any indicators for the collapse of the price of the Iraqi dinar exchange, noting that the Iraqi dinar remains strong for price inflation, pointing out that there is inflation تناقصيا and not incremental in relation to certain goods, as an exception in his interview with a slight increase of the prices of some goods in September for a short period as a result monopoly merchants.

 across MP expressed concern the policy of monopoly followed by some merchants to store goods, noting that it requires the development of a policy to prevent monopoly and allow for more traders to import to achieve competitive strongest among them would be reflected positively in favor of the citizen.

 saw Abadi said prices Iraqi dinar exchange today reasonable, according to economists with the exception days alone is increasing the demand for the dollar leads to the low exchange rate of the dinar.

 was the Iraqi dinar exchange rate has seen since the period fluctuated significantly in price, as the price of the Iraqi dinar against the U.S. dollar around 1,300 dinars per dollars, but out of Iraq from Chapter VII and take quick measures the exchange rate cuts quite a bit.

The MP said the currency exchange rate is currently settled on the so-called exchange rate Altfawta between the market and the central bank, where the difference is significant, noting that his committee was worried about the continuation of the great difference in the price of buying and selling, which in turn generates mafias and profitable illegal, noting that the situation Today stable and profit simple which is a profitable venture for speculators in the currency.

 and procedures for the central bank to delete the zeros from the currency, said Chairman of the Finance Committee that the matter is not over yet, likely postponing work him into the next parliamentary session.

central bank had announced earlier that year 2013 will see the deletion of zeros and the currency exchange, indicating that the current currency formed a cluster of large cash estimated at 30 trillion dinars.

Abadi noted that the Central Bank's strategy of deleting three zeros and the currency exchange will be at the beginning of a new year and a new budget for the state.

 

http://www.alsabaah.iq/ArticleShow.aspx?ID=50527

The Next session is Monday July 22, 2013.