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07/12/2011 02:33 م
BAGHDAD /Aswat al-Iraq: Iraq's 2012 Budget shall have a positive impact to develop theIraqi economy, due to its investment value, compared with last year's budget,Member of the Parliament's Financial Committee, Najiba Najib, said onWednesday.
"The2012 Budget has positive signs, compared with the previous budgets, due to thefact the its investment allocations have raised from 29% of last year's budgetto 35% of this year's budget, along with its investment allocations that haveincluded several positive impacts to improve the Iraqi economy, whilst thecommissioning costs have been reduced to 65%," she told Aswat al-Iraq newsagency.
Najib saidthat "the oil production increase and the continuation of oil prices shallenable the government to exploit it to support the budget," adding that"the government had allocated US$15 billions (b) for the major strategicprojects, that shall achieve major economic reforms."
As regards tothe salaries of employees, Najib said: "a special committee had beenformed to revise them, in order to raise the minimum salaries, along with therevision of the salaries of retired employees, that were cited in the 2012budget."
Iraq'sCouncil of Ministers had voted on Monday, 5 December, 2011, on the draft-law ofthe 2012 budget, that reached 117 trillion (t) Iraqi dinars, which is equal toUS$100 billions (b), including a deficit percentage that reached 17 trillion(t) dinars, which equals US$14.5 billions (b), based on a supposed price foreach barrel of Iraqi oil to reach 85 dollars and a daily oil exports of 2.6million barrels per day (bpd).
TheInvestment projects have scored 35% of the size of the country's new budget,whilst other sectors, including the commissioning allocations have occupied theremaining part of the total budget.
Noteworthy isthat the Iraqi Parliament is expected to discuss the new budget in theforthcoming few days, before its final confirmation.
SKH (TS)/SR
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