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Government: No interest on loans granted to citizens
10/25/2012 12:00 am
Cabinet decides to give priority designation for the contract-holders
Baghdad morning the
government announced exemption of all citizens of the amount of interest on loans will be given to them during the year 2013, while confirming that the draft general budget included advertising in local newspapers for grades developed within the owners in 2013 by the ministries and non-related ministry, while giving priority to the installation contracts.
announced government spokesman Ali al-Dabbagh said in a statement detailed on the Cabinet meeting on Tuesday, said that "the Council of Ministers decided to approve the bill the federal budget for 2013 of $ (138) trillion dinars, an increase of 18 percent from last year. "
Dabbagh said that the total federal income amounted to (119.3) trillion dinars were the result of calculation of income from export of crude oil at an average price (90) dollars per barrel and export capacity of up to (2.9) million barrels per day, including the quantity produced and exported from the territory of Kurdistan and the (250) thousand barrels per day, where will oil revenues this Development Fund for Iraq after deducting (5) percent of compensation for the Kuwait war has reached the investment budget (55) trillion dinars and the operating budget (83) trillion dinars distributed among the institutions and ministries and bodies all state where they will be distributed overhead according to the rates of population after excluding allocations Center Federal Ministry and sovereign expenditure.
continued he was awarded sectors as follows: "Security and Defense 19.86 trillion dinars at a rate of 14.37, Education 12.71 trillion at a rate of 9.2, Energy 29.45 trillion, by 21.31, the environment, health 6.82 trillion, by 4.94, social services 17.7 trillion, up 12.81, water, sewage and sanitation 4.2 trillion by 3.04, transport and communications 1.82 trillion by 1.32, the agricultural sector 2.68 trillion, by 1.94, the industrial sector 1.71 trillion, by 1.24, Construction and Housing 1.57 trillion by 1.14, Culture, Youth and clubs and federations 2.22 trillion by 1.61, Obligations and international debt 10.3 trillion by 7.45, public administrations central and local 12.76 trillion, up 9.24. "Dabbagh said that the budget deficit was estimated at (18.
trillion dinars will be coverage of cash retained from the budget year 2012 and the Development Fund for Iraq and domestic borrowing by the treasury transfers and external, as well as from the savings expected from the increased sale prices of oil or increase production or borrowing from the International Monetary Fund and the World Bank, where will be empowered and Federal Minister of Finance the power to continue borrowing from the IMF International complementing amount (4.5) billion and the World Bank which complements the $ (2) billion dollars during the year 2013 and by using special drawing rights up to SDR (1. billion dollars to cover the projected deficit in the federal budget. added that the share of the Kurdistan region has reached (14.3) trillion dinars, ie (17) percent 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 and will settle dues between the Territory and the federal government for the years (2004 until 2012) and subsequent years after her audited by BSA federal coordination and cooperation with the Office of Financial Supervision of the territory no later than 15 October 2013. also drew Dabbagh allocation (250) billion dinars as a reserve to the government and $ (7.2) trillion dinars for reconstruction projects and the development of regions and provinces, including the Kurdistan region to be spent according to plans the reconstruction of the province submitted by the governor and approved by the Council of the province to the Ministry of Planning Federation, where will the conservative exclusively implementation plan reconstruction approved and take the provincial council responsible for monitoring implementation may not make any transfers within these customizations between provinces, as will be allocated ( 1.318) trillion dinars called assignments petrodollars which the amount of dollars for each barrel of crude oil producer in the province or refined in refineries province and a dollar for every (150) cubic meters producer of natural gas in the province and the province to be used no more than (50) percent allocations petrodollars to buy electric power and allocate revenues from visa to Iraq to visit the holy sites in 2012 for services visitors and infrastructure, according to the following: "40 percent, Karbala holy 10 percent of Baghdad / Kadhimiya, 15 percent, Salahuddin / Samarra, 25 percent, Najaf, 10 percent, Baghdad / Adhamiya.
between Dabbagh said the draft budget has included advertising in local newspapers for grades developed within owners in 2013 by the ministries and departments not related to the Ministry, where priority will be given to install contracts exception of age requirement for contractors in the past years with calculating the contract period as a service for the purposes of retirement and will be exempted of all citizens of the amount of interest on loans granted to them by the Land Bank, agricultural and housing fund and continue to grant these loans without interest to the citizens and by the souls of all the province and will assume the Ministry of Finance interest rate.
stressed that the government and to support the industrial sector private and mixed sectors and like the initiative agricultural will be lending to projects Iraqi Federation of Industries and the mixed sector without interest and bear the Ministry of Finance to pay interest to the government banks and the Federal Minister of Finance reallocate the remaining funds and unspent from the approved amounts in the federal budget for the year 2012 and related damages provinces, cities and individuals affected to balance The beneficiary exclusively for disbursement during 2013, an exception to the provisions (Section IV) of the Financial Administration Act and the Public Debt number (95) for the year 2004 as well as his right to use the amounts approved for a contingency reserve to pay the expenses of emergency incidents and unexpected reduction (3) billion dinars for each case If the amount exceeds this limit must obtain the approval of the Federal Cabinet.
also noted that the Federal Minister of Finance in coordination with the Minister of Planning Federal will reallocate the amounts related to the projects reconstruction and attribution provinces ((Baghdad (Sadr and torch), Basra, Diyala and Nineveh)), which was launched amounts to form of advances in 2008 for the purpose of adjustments Agaydip them within the budget year 2013 without consequent actual exchange as well as the reallocation of revenue actually in land border ports, sea and air, including sovereign revenues during the year 2011 to balance the border provinces both by revenue actually in ports border in the province, with priority given to rehabilitate and reconstruct the border crossing points of each province.
Dabbagh said that the Minister of Planning to provide the rate of implementation of investment projects for each ministry or entity is linked to the Ministry to the cabinet in the absence of the implementation of a rate (25 percent) of the allocations each project through the (6) months from the adoption of the budget For the Minister of Finance, in coordination with the Minister of Planning to report to the Council of Ministers to determine the causes of failure and the House of Representatives questioned the minister or the head of the non-related to the Ministry in the event of non-implementation of a rate (60 percent) of the investment allocations for the ministry or his department of the federal budget. He also noted that the Federal Cabinet will add allocations to the federal budget for 2013, when achieved an increase in revenue from exports of crude oil exported through the first six months of this year to pay off the deficit planned budget and securing funds for investment projects of the Ministry of Electricity after approval by the Ministry of Planning Federation, as well as to amounts imported electricity and reimburse the private sector before 04/09/2003 and loans granted by the government banks for salaries of employees of public companies for 2010, 2011 and 2012, loans granted by the government banks to buy barley crop for 2010 and amounts to support the affected governorates (Diyala and Nineveh) and amounts related to the general census of population will be borne by the Ministry of Finance the amount of interest the (4 percent) of the total loans granted to residential بسماية project.
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