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Finance Minister calls on ministries to participate in the preparation of public budgets
Date: Thursday, 04/05/2012 10:06
Baghdad / term
Finance Minister Rafie al-Issawi the need for participation of all ministries in the preparatory meetings for the preparation of budgets, the Federal Assembly, but not limited to finance and planning.
Issawi said according to the statement: The meeting discussed the mechanisms and the underlying determinants to develop a budget plan for the years 2013-2014-2015, pointing out that the functions of this committee should be large and the participation of all government ministries and not confined to the Ministry of Finance and Planning, which is alone in the past years, the development strategy of the state budget.
He said al-Issawi: The fundamental determinants of the state budget for the years the next three on the basis of the financial framework the average for the next three years and the extent of approaching the five-year plan included in the Ministry of Planning in addition to the commitment and capacity of the Ministry of oil by providing estimates of expected revenue for the oil to be introduced in the preparation of the budget. He stressed the need to identify non-oil revenues and the development of plans for development and support and therefore not to rely on oil wealth as a major source for the state budget.
He noted that the public budgets of the state will depend on a set of priorities recommended by the Council of Ministers, including increased expenditures in the areas of security and basic services for the Iraqi people and to increase oil production, "pointing to the existence of" a set of fundamentals will be adopted by the Commission in developing the plan for the next state budget and for three years including those related to the normalization of the situation with neighboring countries and their impact on oil prices as well as the debt incurred.
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