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Sulaimaniya, August 21 / August (Rn) – ****The Undersecretary of the Ministry of Finance of Iraq, for his ministry to guess the Iraqi budget for next year’s 115 trillion Iraqi dinars,***** adding that next week**** will see a final decision on the size of the budget next year.*****
According to Fadel, a prophet of the Kurdistan News Agency (Rn), that “next week will see a final decision on the size of the Iraqi budget for next year after meeting the federal financial with their counterparts in government to discuss a budget for 2012,” pointing to “guess the financial budget next year at 115 trillion Iraqi dinars, which means an increase of 19 trillion dinars for the current year budget. “
The Prophet said that “despite speculation the Iraqi budget for next year at 115 trillion dinars, but it is possible to increase the size of the budget when oil prices rise on world markets.”
The Undersecretary of the Ministry of Finance of Iraq Zia Khyoun has stated (Rn), earlier that “his ministry had begun preparing the budget in 2012 and which will be submitted to the prime minister in September next for approval and sent to the House of Representatives for a vote,” noting that “the total amount of the budget not yet clear, but he adopted the selling price of crude oil on the basis of $ 85 per barrel and exports 2.2 million barrels per day of crude oil. “
The Khyoun that “*****the financial mechanisms in place to address the budget deficit in 2012 and which will arise from it fully due to the adoption of the ministry on the mechanisms to prevent expansion of the fiscal deficit.”*****
Iraq relies to finance its budget on crude oil, which is prepared by economists as a risk in the Iraqi economy because of the failure to diversify its sources and development of industrial and commercial sectors and other development.
The House of Representatives passed its session of the thirty-sixth legislative term of the first of the month of February, most of those present (240 deputies), the general federal budget for 2011 of $ 82.6 billion dollars after the Finance Committee presented its report on the budget law. “
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According to Fadel, a prophet of the Kurdistan News Agency (Rn), that “next week will see a final decision on the size of the Iraqi budget for next year after meeting the federal financial with their counterparts in government to discuss a budget for 2012,” pointing to “guess the financial budget next year at 115 trillion Iraqi dinars, which means an increase of 19 trillion dinars for the current year budget. “
The Prophet said that “despite speculation the Iraqi budget for next year at 115 trillion dinars, but it is possible to increase the size of the budget when oil prices rise on world markets.”
The Undersecretary of the Ministry of Finance of Iraq Zia Khyoun has stated (Rn), earlier that “his ministry had begun preparing the budget in 2012 and which will be submitted to the prime minister in September next for approval and sent to the House of Representatives for a vote,” noting that “the total amount of the budget not yet clear, but he adopted the selling price of crude oil on the basis of $ 85 per barrel and exports 2.2 million barrels per day of crude oil. “
The Khyoun that “*****the financial mechanisms in place to address the budget deficit in 2012 and which will arise from it fully due to the adoption of the ministry on the mechanisms to prevent expansion of the fiscal deficit.”*****
Iraq relies to finance its budget on crude oil, which is prepared by economists as a risk in the Iraqi economy because of the failure to diversify its sources and development of industrial and commercial sectors and other development.
The House of Representatives passed its session of the thirty-sixth legislative term of the first of the month of February, most of those present (240 deputies), the general federal budget for 2011 of $ 82.6 billion dollars after the Finance Committee presented its report on the budget law. “
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