Sunday, 09 September / September 2012 08:00
Parliamentary Finance Committee confirmed not received a draft budget that next year from the government.
The deputy chairman of the Committee Ahmed Faizullah told all of Iraq [where] today that “allocations Supreme Judicial Council as well as other ministries are identified through meeting them and agree on those customizations,” adding that “the budget is based on the actual needs of the annual institutions” .
And on the deletion of zeros from the local currency Faizullah said that “the deletion of zeros will not create an economic problem or financial or monetary and some magnifies the issue out of proportion it’s just the process of switching the currency which pertain to all Iraqis, and it may take time to get used to people about it.”
He added that “printing the new currency cost amounts billions Is the government willing to bear the costs? They must be calculated financial cooperation with the central bank needs from the currency because the Iraqi economy is based on the Cache and this is sound because any financial system developed for Aataaml بالكاش is that instruments and credit cards to اتشكل ratio 1 percent of transactions in Iraq. “
Faizullah stressed the need not to “make way for either currency manipulators who take advantage of the currency switch.”
He pointed out that “there is mutual accusations on this subject but it must be for the country and the means and possibilities to investigate abusive who manipulate things and we do not control our financial or commercial Aouchaabah and even in the Kurdistan region and this encourages lawlessness market.”