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Financial stresses parliamentary work to reduce the rate of inflation in the budget in 2012
[12:40] 12/Jan/29
Rep. Najiba Najib
Erbil Jan. 29 (PNA) - confirmed the Finance Committee in the Iraqi parliament, on Sunday, it was working to reduce inflation in the budget in 2012, which is valued at 10 trillion dinars, by expanding the participation of investment at the expense of operating expenses.
The Central Bank of Iraq, last Tuesday, for the budget deficit in 2012 of 20 trillion Iraqi dinars, or gain of 10% of the gross domestic product, adding that the budget deficit by default and can be treated through the stabilization of world oil prices remain above the $ 104.
Announced that the Finance Committee representative Monday that Iraq will not need to borrow from the IMF, which is hoped to give Iraq $ 4 billion, while Iraq's cabinet approved in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).
A member of the Committee Najiba Najib told Kzrdstan news agency that "the parliamentary Finance Committee is working to expand the options of inflation in the budget in 2012 through work on the grant of gravity of the investment projects at the expense of operational projects and reduce the excess of government expenditures."
She explained that "inflation could hit rate to 20 trillion Iraqi dinars, which could be addressed through the implementation of the investment plan accurately on the ground," indicating that "the investment projects is the only solution to reduce costs through a program of ambitious investment is working to complete the government during the budget year 2012 ".
It was hoped that the House proceed to discuss budget items in preparation for approval, but the emergence of political problems hit the legislative institution of the kind of inertia.
Najib said and continued "The Finance Committee will approve the draft budget in 2012 to activate the private sector and regulate the entry of foreign industries and not to allow goods that can be manufactured within the country."
And raising the Iraqi parliament in the last weeks of its more than once to a lack of quorum due to the continuing its boycott by the members of the Iraqi List, which is the second largest parliamentary bloc.
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[12:40] 12/Jan/29
Rep. Najiba Najib
Erbil Jan. 29 (PNA) - confirmed the Finance Committee in the Iraqi parliament, on Sunday, it was working to reduce inflation in the budget in 2012, which is valued at 10 trillion dinars, by expanding the participation of investment at the expense of operating expenses.
The Central Bank of Iraq, last Tuesday, for the budget deficit in 2012 of 20 trillion Iraqi dinars, or gain of 10% of the gross domestic product, adding that the budget deficit by default and can be treated through the stabilization of world oil prices remain above the $ 104.
Announced that the Finance Committee representative Monday that Iraq will not need to borrow from the IMF, which is hoped to give Iraq $ 4 billion, while Iraq's cabinet approved in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).
A member of the Committee Najiba Najib told Kzrdstan news agency that "the parliamentary Finance Committee is working to expand the options of inflation in the budget in 2012 through work on the grant of gravity of the investment projects at the expense of operational projects and reduce the excess of government expenditures."
She explained that "inflation could hit rate to 20 trillion Iraqi dinars, which could be addressed through the implementation of the investment plan accurately on the ground," indicating that "the investment projects is the only solution to reduce costs through a program of ambitious investment is working to complete the government during the budget year 2012 ".
It was hoped that the House proceed to discuss budget items in preparation for approval, but the emergence of political problems hit the legislative institution of the kind of inertia.
Najib said and continued "The Finance Committee will approve the draft budget in 2012 to activate the private sector and regulate the entry of foreign industries and not to allow goods that can be manufactured within the country."
And raising the Iraqi parliament in the last weeks of its more than once to a lack of quorum due to the continuing its boycott by the members of the Iraqi List, which is the second largest parliamentary bloc.
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