After Eid budget 2013 up to Parliament
10/28/2012 12:11 PM Economy no comments
MP for the rule of law Ibrahim Rikabi
“Portal Iraq” BAGHDAD – The MP said the coalition of state law Ibrahim Rikabi in a statement Sunday that “the Council of Ministers has audited the budget year 2013 and discussed extensively discussed by the Ministry of Finance to assess the State’s need for the purpose of construction and reconstruction and Alroatib her.”
And pointed out that “the House of Representatives will discuss the financial budget after it reaches him and adds its own set of amendments and points which they can take advantage of the better budget.”
The Cabinet had approved last week a draft budget of 2013 $ 138 trillion dinars (118.6 billion dollars) based on the price of oil at $ 90 a barrel and exports expected at 2.9 million barrels per day, and a deficit estimated 18.8 trillion dinars (16.17 billion dollars).
The deficit will be covered from untapped funds from the budget of 2012 or account of the Development Fund for Iraq at the Federal Reserve Bank of New York branch, domestic bonds, or of the expected surplus resulting from the rise in crude prices.
The budget includes 55 trillion dinars (47.29 billion dollars) for investment projects.
It is noteworthy that budgets Federal public takes a long time each year until it is approved by the House of Representatives, which is causing disabling most of the projects, underlining specialists that gives an excuse first companies implementing projects in the disruption or lag, which reflected negatively on the services.