Call for application development plans in accordance with the Financial Administration Act

Call for application development plans in accordance with the Financial Administration Act 

12/14/2013 0:00 


BAGHDAD - morning called academic economic d. Majid Baidhani those responsible to adhere to the law of financial management and public debt in relation to plans for economic development and stabilize the economy because of its importance in the order of things the country's economic and determine the creditors and debtors to organize the general budget of Iraq. regulated by the Financial Administration Act and Debt year 94 of 2004 tax policy and budgetary policy in line with international best practices, and through the development stages of the Organization for the formulation of the federal budget and the number of reports required for the purpose of increasing the reliability and transparency of the budget. added Baidhani told (morning) that this law comes by issuing government bonds and debt repayment year for the purpose of supporting government funding and promotion of confidence the economic structure of the country, as well as being designed to improve the conditions of life and create jobs and reduce unemployment, and the accompanying damage to public security, through the creation of financial markets stable. drew academic economic that the Ministry of Finance is the official charged with preparing the final account and federal budget plans for economic development and the pursuit of macroeconomic stability and economic policy and applicable laws and regulations. He pointed out that the preparation will be required to ensure the observance of the desire to strengthen the financial position of Iraq, and reduce the volatility in government spending, pointing out that the preparation of the budget, in particular based on forecasts wise and moderate prices of petroleum and petroleum products, tax and customs revenue. The Ministry of Finance to prepare plans in collaboration with the Central Bank and other ministries. This law regulates the procedures that govern the development, adoption and registration, management and implementation of the general budget of Iraq and things related to it, which includes the loan and public guarantees and internal control, accounting and auditing, and the principles of transparency, inclusiveness and harmony are essential when creating and implementing the federal budget for Iraq and things related to it, where it should be published budget information in accordance with the internationally accepted standards and provide a way that facilitates the analysis and enhance confidence. said Baidhani to the final accounts and the importance of timely submission for the purpose of scrutiny by the competent authorities, but Iraq has witnessed a state of confusion is clear in the completion accounts the closing of the previous years. intended final accounts as actual revenues and actual expenditures for the fiscal year ended, and the final account differs from the general budget in the general budget includes estimates of the uses and resources.

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