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Friday 9 December 2011
The largest budget in Iraq allocates $ 15 billion for security and defense
Follow-up - and babysit -
Baghdad announced today the approval of the Cabinet on the budget next year 2012 and sent to the House of Representatives for discussion and approval, reaching $ 100 billion, deficit $ 14 billion, and occupied sector of energy provided in the allocations, amounting to about $ 18 billion, followed by security and defense, and allocated $ 15 billion, will pay for the deficit by borrowing from the IMF and World Bank.
The budget for the next largest budgets in the history of Iraq since the founding of the modern Iraqi state in 1921 of the last century, which is more than the current year budget by 22%, as the budget of 2011 amounted to 81.9 billion dollars deficit of $ 13.3 billion. Has received investment projects at the 35% of the volume of the general budget for the information of 2012, while the rest of the acquired sectors, notably the operating budget on the remaining ones.
He said government spokesman Ali al-Dabbagh said the Cabinet had approved the draft law of the Federal budget for 2012 of $ (117) trillion dinars (100 million dollars), an increase of 22% from last year.
Dabbagh said in a press statement written received "Elaph" on Thursday that the total federal income amounted to (102) trillion dinars (about $ 95 billion) were the result of calculation of revenue resulting from the export of crude oil at the rate (85) dollars per barrel, and the export capacity of up to (2., 6) million barrels per day, including the quantity produced and exported from the territory of Kurdistan and the amount of (175) thousand barrels per day, where oil revenues will fund the development of Iraq, after deducting 5% of compensation for Kuwait war. The price of the Iraqi dinar to the dollar for 1100 dinars.
He added that the investment budget of (37) trillion dinars (about $ 34 million) and operating budget (80) trillion dinars (76 billion dollars) were distributed to institutions, ministries and state bodies of all, where will be the distribution of public expenditures, according to the ratio of the population, after excluding allocations Center Federal Ministry of sovereign and expenses.
He noted that the budget deficit was estimated at 15 trillion dinars (about $ 14 billion) will be covered by the amounts of cash retained from the budget in 2011, and the Development Fund for Iraq and domestic borrowing, under the treasury transfers and external, as well as from savings expected from the increase in selling prices of oil or increase production or to borrow from the IMF and World Bank, where will be empowered and the Federal Minister of Finance the power to continue borrowing from the IMF, which complements the $ 4.5 billion, and the World Bank, complementing the $ 2 billion in the year 2012, using the SDR to SDR the limits of (1.
billion dollars, to cover the projected shortfall in the federal budget. Dabbagh said that the share of Kurdistan region has $ 12.6 trillion dinars, or 17% of the total operating expenses and expenses of the investment projects of the general budget of the Federal Republic of Iraq ratified the Kurdistan region after excluding expenses sovereign.
Dabbagh said the allocation of $ 250 billion dinars as a reserve contingency, and $ 1.07 trillion dinars as a reserve for investment projects approved within the budget of the Federal Ministry of Finance, to be disposed of by the Council of Ministers, and will be allocated $ 6 trillion dinars for reconstruction projects and the development of regions and provinces, including the region Kurdistan, to be spent according to the plans of reconstruction of the province, provided by the Governor, and is certified by the Provincial Council to the Ministry of Federal Planning, where the governor will exclusively implement the reconstruction plan approved, the provincial council and the responsibility of monitoring implementation.
As will be allocated an amount of (1.676) trillion dinars, called assignments petrodollars, the amount of dollars for each barrel of crude oil producer in the province or refined in refineries, the province, and a dollar for every (150) cubic meters of natural gas producer in the province, and to maintain that use no more than 50% of the petro-dollar allocations for the purchase of electric power, and will allocate revenues from visa to Iraq to visit holy sites for the years 2011 and 2012 to service visitors and infrastructure.
Dabbagh said that the draft budget has included an exemption of all citizens of the amount of interest on loans granted to them by the Land Bank, agricultural and housing fund and to continue to grant these loans without interest to citizens, and by the souls of each province, will be borne by the Ministry of Finance interest rate.
As for the staff of government departments centrally funded or self-When transferred to the private sector, will assume the ministry or organization is not related to the Ministry transferred the employee half his salary monthly for a period of three years from the date of transfer to a final cut off his relationship to his department.
Al-Dabbagh that the Iraqi government, and to support the industrial sector, private and mixed sector, and similar to the initiative of agricultural, will be lending to projects the Iraqi Industries Union, without interest, and The Ministry of Finance to pay interest to banks, government, and will give the Council of Ministers the development of infrastructure projects for no longer than (18) trillion dinars, (2) trillion dinars, of which to build a housing for the poor, distributed according to population of each province, and implemented on the basis of deferred payment, and the Federal Minister of Finance to reallocate the amounts remaining unspent from the approved amounts in the federal budget for the year 2011 and the related compensation provinces and cities and individuals affected by a balancing of the recipient solely for disbursement during the year 2012 an exception from the provisions of (Section IV) of the financial management of public debt and the number (95) for the year 2004.
Dabbagh said the Federal Minister of Finance in coordination with the Minister of Planning, Federal will be re-allocated amounts for projects, reconstruction and the assignment of provinces (Baghdad .. chest and torch, Basra, Diyala and Nineveh), which was the launch of the amounts in the form of advances in 2008 for the purpose of adjustments Agaydah them within the budget in 2012 without that result in actual exchange, as well as the reallocation of revenue actually in ports, land border, sea and air, including the sovereign revenues during the years 2011 to balance the border provinces, each according to revenue actually at border crossing points in that province, with priority given to the rehabilitation and reconstruction border points of each province and revenues, 2010, that have not been disbursed in 2011 to the late receipt of data by the province concerned to balance the province in 2012.
And that the Federal Council of Ministers will add customizations to the federal budget for the year 2012 when achieve an increase in revenues from exports of crude oil exported during the first six months of this year to pay the planned deficit budget and secure funds for investment projects of the Ministry of Electricity after approval by the Federal Ministry of Planning, in addition to the amounts import of electric power and pay the dues of the private sector before 9/4/2003, and loans granted by government banks for the salaries of employees of public companies for 2010 and 2011, loans granted by government banks to buy barley crop in 2010, and a loan of Trade Bank of Iraq to secure the vocabulary of the card ration for the year 2010, and versions of treasury transfers for the projects and the Ministry of Electricity in 2010.
Add to allocate funds for the infrastructure project within the (draft Basmajh residential) after approval by the Federal Ministry of Planning, and the amounts of census general population, and the amounts of the expected increase in the pensions of civil and military, which has been withheld from the allocations in 2012, and secure payments issued by the decisions Council of Ministers, was withheld from the allocations in 2012, and the amounts of investment projects of the ministries and departments not related to the Ministry, if the implementation of more than (70%) of the allocations.
Dabbagh said that the Ministry of Finance will adhere to the financing of an additional amount for windows Muslim in each of the Rafidain and Rasheed, and $ (25) billion dinars each, at the request of the Iraqi Central Bank, which will open the window of the Islamic part of private sector banks that wish to do so.
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