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Delayed adoption of the budget will cause a loss of the Ministry of Commerce $ 150 million
Date: Thursday, 09.02.2012 7:41
BAGHDAD / agencies,
the committee said the parliamentary to the late adoption of the general budget of the country for the current year will cause the loss of the Ministry of Commerce $ 150 million, while referring to the government seeks to increase the investment budget in the coming years, called for the need to support the private sector and other economic sectors.
The Vice-Chairman of the Committee Mohammed Salman al-Saadi "Alsumaria News", "late adoption of the Iraqi budget for the current year 2012 will impact negatively on the provincial councils and the Iraqi ministries especially the Ministry of Trade," noting that "the delay in approval will cause the loss of the Ministry of Commerce $ 150 million, according to the word ministry officials who have been housed in the House of Representatives during the last period. "
said Saadi, that "the non-arrival of the budget of the ministries in the time it would deprive the Ministry of Commerce of the organization contracts with some countries for some ration materials that experience a decline at the present time," noting that "the The ministry will have to buy these items at higher prices later. "
He al-Saadi "The Iraqi government is seeking to increase the investment budget for the coming years to reach 60%, like the investment budgets in the countries of the world," adding that "the investment budget for the current year, amounting to 37% step advanced compared to previous years. "
and called Saadi the Iraqi government to "develop and assist the Iraqi private sector and the promotion of other economic sectors for the provision of other resources of the budget of Iraq," noting that "Iraq still depends on its annual budget 90% of oil imports, which are often prices volatile. "
and decided to Presidency of the Council of Representatives, on the sixth of February, the current, to postpone the parliamentary session, the 19 of the second legislative term of the year the second legislative to the 14 of February, the current, for lack of quorum, which was due to the continuing discussion of the law of the Federal budget for the year fiscal 2012 after it was read the second reading in the 31 of January last.
and Finance Minister Rafie al-Issawi, in December of 2011, for approving the government to balance Iraq in 2012 that of 117 trillion dinars and a deficit of 14 trillion dinars, and the adoption of production 2.0006 million barrels per day and the rate is $ 85 per barrel.
The speaker of the House of Representatives Osama Najafi, in the 28 of November 2011, the need to expedite the completion of the annual budget for 2012 during a short period, stressing the need not to prejudice the rights of the provinces in pumping money into entrepreneurship and investments, as he emphasized that the International Fund works to reduce and minimize the budget in the current budget for Iraq in 2012.
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