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The importance of directing the goals of the General Budget Law for the future investment
By: Engineer Abdul Latif Salem Ugaili
Referred to (the state budget) as the estimated outline is supported contains a general revenue that is expected to be collected by the state, and public expenditure to be incurred during the financial year to come, Valmoisna serves as the program's financial plan for fiscal year to come in order to achieve specific objectives within the framework of the plan General economic and social development of the state. and according to this statement is being estimated that adoption by the legislative authority in the State reflects the state revenues and expenditures in the form of monetary units in its content reflects the state's plan for a specific fiscal year.
And Anbad from reality if we say that the adoption of the Law of the Iraqi budget for the current year 2012, is one of the most important files before the table of the Iraqi parliament, where ratification is still hostage to the position of the second reading in the parliament which was to be accomplished in the meeting of the Council of Representatives on Monday last day January 9 of this year after it could not be established due to lack of quorum, which imposed on the Iraqi Parliament Speaker Osama Najafi, who demanded the end of November last year, the need to expedite the completion of the annual budget for the year 2012, during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into ventures and investments, to raise this parliamentary session and the request to the Council members to attend the next meeting.
It should be noted that the general budget for the year 2011, voted on by the House last year after it was prepared based on the rate of (76.5) dollars on average for the price of a barrel of oil, and exportation capacity of up to 2.0002 million barrels a day, including (100) thousand barrels was to be exported from the territory of Kurdistan, amounted to about (93) trillion dinars deficit reached (14) trillion dinars. It is interesting to note that the value of operating expenses in this budget amounted to (64) trillion dinars, tribes have 29 trillion dinars have been allocated to investment expenditures.
It could be argued that some indicators of public budget for Iraq in 2012, has been made clear through the Declaration and the Ministry of Planning and Development Cooperation in September of last year, the budget for Iraq in 2012, is the second largest budget in the Arab world, with reference to the acquisition of oil and electricity sectors to share lion from the allocations of the investment budget for the current year 2012. And adds to it what He stood for a press conference, Finance Minister Rafie al-Issawi, who held in the eighth month of December of last year, and explained through the fact that throughout the Iraqi budget for 2012, amounted to (117) trillion dinars and, to a deficit of up to (14) trillion dinars . Which represents (10%) of gross domestic product (GDP) and (12%) of the total budget, the share of the operational budget (80) trillion dinars, while the budget allocated to the investment (37) trillion dinars.
In his speech earlier this year the House of Representatives on the occasion of the American withdrawal from the country, the president of the Iraqi parliament, Osama Najafi federal budget for 2012; view of the lack of service projects. He also pointed out that the current year budget was characterized by an increase in operating expenses at the expense of investment expenditure, which will lead, according to House Speaker to inadequate financial allocations to meet the need of the service sectors that can improve the links human development different for the better. The Nujaifi that there should be a top priority social services, education, health, and increase allocations to support the development of regions and civil society organizations to achieve greater well-being of the citizen and finding urgent solutions to a specific time frame and the roof is well known for the major crises that afflict our people.
That our understanding of the importance of the general budget, as a plan of administrative leadership for the implementation of policies for the next set duration as is the customary one year, requires the government to adopt standards generally accepted in the economic literature that contribute to the success of their mission to reverse the trends of economic and social aims to achieve during the fiscal year. Perhaps at the forefront of the preparation according to speculation on oil prices lower in order to avoid fluctuations in world markets, and facilitate the worker in order to preserve flexibility in the face of emergencies and potential crises. Should also pay greater attention to diversifying sources of income, as is the case in the Gulf States oil, in addition to supporting the private sector commensurate with its importance; in order to qualify to contribute with the rest of the sectors to contain the budget deficit, and participation in support of investment expenditure to ensure the establishment of infrastructure for the various sectors country, and in the forefront of basic services, especially health, education and municipal services that still need to qualify many of the joints and the development of others.
Based on the foregoing, we can say that the budget is the philosophy of economic and social objectives should be clear to invest in the future.
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By: Engineer Abdul Latif Salem Ugaili
Referred to (the state budget) as the estimated outline is supported contains a general revenue that is expected to be collected by the state, and public expenditure to be incurred during the financial year to come, Valmoisna serves as the program's financial plan for fiscal year to come in order to achieve specific objectives within the framework of the plan General economic and social development of the state. and according to this statement is being estimated that adoption by the legislative authority in the State reflects the state revenues and expenditures in the form of monetary units in its content reflects the state's plan for a specific fiscal year.
And Anbad from reality if we say that the adoption of the Law of the Iraqi budget for the current year 2012, is one of the most important files before the table of the Iraqi parliament, where ratification is still hostage to the position of the second reading in the parliament which was to be accomplished in the meeting of the Council of Representatives on Monday last day January 9 of this year after it could not be established due to lack of quorum, which imposed on the Iraqi Parliament Speaker Osama Najafi, who demanded the end of November last year, the need to expedite the completion of the annual budget for the year 2012, during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into ventures and investments, to raise this parliamentary session and the request to the Council members to attend the next meeting.
It should be noted that the general budget for the year 2011, voted on by the House last year after it was prepared based on the rate of (76.5) dollars on average for the price of a barrel of oil, and exportation capacity of up to 2.0002 million barrels a day, including (100) thousand barrels was to be exported from the territory of Kurdistan, amounted to about (93) trillion dinars deficit reached (14) trillion dinars. It is interesting to note that the value of operating expenses in this budget amounted to (64) trillion dinars, tribes have 29 trillion dinars have been allocated to investment expenditures.
It could be argued that some indicators of public budget for Iraq in 2012, has been made clear through the Declaration and the Ministry of Planning and Development Cooperation in September of last year, the budget for Iraq in 2012, is the second largest budget in the Arab world, with reference to the acquisition of oil and electricity sectors to share lion from the allocations of the investment budget for the current year 2012. And adds to it what He stood for a press conference, Finance Minister Rafie al-Issawi, who held in the eighth month of December of last year, and explained through the fact that throughout the Iraqi budget for 2012, amounted to (117) trillion dinars and, to a deficit of up to (14) trillion dinars . Which represents (10%) of gross domestic product (GDP) and (12%) of the total budget, the share of the operational budget (80) trillion dinars, while the budget allocated to the investment (37) trillion dinars.
In his speech earlier this year the House of Representatives on the occasion of the American withdrawal from the country, the president of the Iraqi parliament, Osama Najafi federal budget for 2012; view of the lack of service projects. He also pointed out that the current year budget was characterized by an increase in operating expenses at the expense of investment expenditure, which will lead, according to House Speaker to inadequate financial allocations to meet the need of the service sectors that can improve the links human development different for the better. The Nujaifi that there should be a top priority social services, education, health, and increase allocations to support the development of regions and civil society organizations to achieve greater well-being of the citizen and finding urgent solutions to a specific time frame and the roof is well known for the major crises that afflict our people.
That our understanding of the importance of the general budget, as a plan of administrative leadership for the implementation of policies for the next set duration as is the customary one year, requires the government to adopt standards generally accepted in the economic literature that contribute to the success of their mission to reverse the trends of economic and social aims to achieve during the fiscal year. Perhaps at the forefront of the preparation according to speculation on oil prices lower in order to avoid fluctuations in world markets, and facilitate the worker in order to preserve flexibility in the face of emergencies and potential crises. Should also pay greater attention to diversifying sources of income, as is the case in the Gulf States oil, in addition to supporting the private sector commensurate with its importance; in order to qualify to contribute with the rest of the sectors to contain the budget deficit, and participation in support of investment expenditure to ensure the establishment of infrastructure for the various sectors country, and in the forefront of basic services, especially health, education and municipal services that still need to qualify many of the joints and the development of others.
Based on the foregoing, we can say that the budget is the philosophy of economic and social objectives should be clear to invest in the future.
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