Still no agreement on National Budget; Details of the state budget emerge

Still no agreement on National Budget; Details of the state budget emerge




Sunday 03/03/2013 07:35 pm

Hours before the deadline to vote on the state budget for 2013 in the House of Representatives there are no definitive figures of what will be the budget, which is said to have the largest budget in the history of Iraq.

Figure announced by the Council of Ministers when approved budget on 23 October last year before 4 months and 14 days was 138 trillion dinars, equivalent to more than 118 billion dollars and over the past months conducted parliamentary committees and negotiations between the political blocs several amendments to the budget figures but has yet to reach a final formula for approval amid popular Discontent of damage to the citizens due to the delay of the budget.

According to the meeting of the Council of Ministers in October, the council passed the approval of the draft law the federal budget for 2013 of $ (138) trillion dinars, an increase of 18% from last year 2012.

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) A barrels per day, where will oil revenues this Development Fund for Iraq after deducting (5)% for war reparations Kuwait has reached the investment budget (55) trillion dinars and the operating budget (83) trillion dinars distributed to institutions, ministries and state bodies all will be distribution of public expenditure according to the rates population after excluding allocations of the federal ministry center and sovereign expenditure as shown in the following table:

Estimated budget deficit b (18.[You must be registered and logged in to see this image.] trillion dinars will be covered by cash retained from the budget in 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 to borrow from the International Monetary Fund which complements the 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.[You must be registered and logged in to see this image.] billion dollars to cover the projected shortfall in Federal budget.

The share of Kurdistan (14.3) trillion dinars, ie (17)% 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 years subsequent audited by the Federal Office of Financial Supervision and coordination and cooperation with the Office of Financial Supervision of the territory no later than 15 October 2013.

The allocated budget amount (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 Federal 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 will also 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)% of the 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 table:

The draft budget 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 the calculation of the contract period as a service for the purposes of retirement and will be exempted of all citizens of the amount of interest for 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 each province will be borne by the Ministry of Finance interest rate ..

Under the budget the Federal Minister of Finance in coordination with the Minister of Planning Federal re-allocation of funds for projects Emaar and assigning provinces ((Baghdad (Sadr and torch), Basra, Diyala and Nineveh)), which was launched amounts in the form of advances in 2008 for the purpose of adjustments Agaydip them within the budget in 2013 without that result in an 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 at border crossing points in that province with priority rehabilitation and reconstruction of the border crossing points of each province.

It is incumbent upon 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%) of the allocations of each project through the (6) months from the adoption of the budget For the Minister of Finance, in coordination with the Minister of Planning lifting report to the Council of Ministers to determine the causes of the 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%) of the investment allocations for the ministry or his department of the federal budget.

The law authorizes the Federal Cabinet Add allocations to 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 Federal addition to amounts import electric power and reimburse the private sector before 09/04/2003 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 the amounts of census General population will be borne by the Ministry of Finance the amount of interest the (4%) of the total loans granted to residential بسماية project.

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