Finance parliamentary: No supplementary budget this year Positive indications of recovery in the value of the dinar

Sunday, July 21 / July 2013 - 04:34

Chairman of the parliamentary Finance Committee Haider Abadi


Baghdad: Alaa al-Tai (morning) - denied the Finance Committee in the House of Representatives and a supplemental budget this year for the presence of a real fiscal deficit in the budget due to lack of sale of crude oil imports for the first six months of this year.

As suggested postponing the subject of deletion of zeros from the currency to the next parliamentary session, revealed signs of recovery in the value of the dinar larger than the current.

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

The Finance Committee had predicted last June that the government would provide a supplemental budget for the current year of $ 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 parliamentary Finance Committee Haider al-Abadi said in a statement the "Center Brief for the Iraqi Media Network," "The supplementary budget has not and will not reach the House of Representatives this year due to a real deficit in the budget."

He added Abadi said, according to the government's expectations, there will be a supplementary budget will be canceled 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.

The supplementary budget submitted by the government last year, amounting to $ 10 billion, but the parliament rejected been recycling amounts to the current year budget.

 Denied the head of the Finance Committee and there is no sign of the collapse of the price of the Iraqi dinar exchange, believing that the Iraqi dinar remains strong for price 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, excluding Speaking a slight increase of the prices of some goods in September for a short period as a result of the monopoly of the merchants. Abadi and saw that the price of the Iraqi dinar exchange reasonable today, according to economists with the exception of a single day is increasing the demand for the dollar leads to the low exchange rate of the dinar.

The exchange rate of the Iraqi dinar has seen since the great fluctuation in prices, as it arrived in the exchange rate of the Iraqi dinar against the U.S. dollar around 1,300 dinars per dollar, but the withdrawal of Iraq from Chapter VII and take quick measures the exchange rate cuts quite a bit.


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