Financial Parliament : the delayed adoption of the budget adversely affect the economy

2/8/2014 0:00

Called for increased investment side at the expense of operational in the coming years
Baghdad Farah pumice

Called on the parliamentary finance committee to speed up the legislation in the General Budget Law for the year 2014 , because it is required by the need to represent the interests of the national economy , and the completion of the completion of projects that affect the lives of Iraqi citizens .

Committee member MP Abdul Hussein al-Yasiri urged in his statement the "morning" parliament to speed up the enactment of the budget for its direct impact on the daily economic life for the Iraqi people , stressing the importance of pushing for increased investment side at the expense of operational for the coming years .

He Yasiri that the general budget work on according to the Financial Administration Act and the Public Debt , which states " if it did not issue the budget and proceed by the House of Representatives , the investment expenditure stop and thus stop the work investment projects full well spent on operating expenses 1 to 12 percent only ," saying it shows that the non- ratification of the budget by the parliament to stop all investment projects , as well as it will affect the work of the private sector and the Iraqi market .

Prime Minister Nuri al-Maliki has demanded Wednesday the members of the House of Representatives that pay attention to the need to speed up the ratification of the federal budget , expressing concern at the continuing debate about the budget , if not ratified it will continue exchange rate ( one dozen) and that means , but something of important laws will be implemented , the Rajya ratify them quickly on the budget and to respond to the needs of people and the implementation of laws enacted .

As for the method of preparation of the budget , he stressed Yasiri on prepared by qualified personnel have considerable experience in this area and the owners of disciplines financial and economic , as well as legal caliber , recognizing that the way the budget preparation old and not modern , and still called balancing traditional and modified to shift to the budgets of plans and programs is an urgent need .

He said a member of the Committee: the non-use of modern equipment for the completion of the final accounts one of the factors that affect the preparation ( the budget ) , calling for a review of budgets and organization to the next according to modern norms and standards , and the involvement of experts and specialists in preparation.

As pointed out that the plans and strategies take allocations from the annual budget , according to the Financial Administration Act , which stipulates that "the conduct of the general budget of the first of January until December 31 , and the basis of exchange is supported within the budget ," explaining that any exchange in Iraq must be his doors in the general budget , whether investing or operating expenses linkage exists between budgets and plans , and any plan not included in the allocations of public budgets are not implemented , especially that determine which investment allocations determined on the basis of population density in the provinces.

The current year budget 170 Trliuna and 411 billion dinars after it was 163 Trliuna and 416 billion dinars , following the decision of the Council of Ministers in the regular session of the fourth , which was held last week , as it has been an adjustment to the amount allocated to projects oil-producing provinces through the conduct transfers required coordination with the Ministries of Finance and Planning federated equivalent of $ 5 for each barrel of crude oil producer in the province and $ 5 for each barrel of crude oil refined in refineries to maintain and $ 5 for the (150 ) cubic meters of natural gas produced in the province.


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