Iraqi budget for 2010 before approval 2/24/2010

[ArmyRanger]

Finance: we have launched the Iraqi budget for 2010 before approval by the House of Representatives


GMT Wednesday, 24 ???? 2010 12:37 GMT



Alsumaria News / Baghdad

Ministry of Finance announced on Wednesday, it launched the Iraqi federal budget for 2010 before approving the by the House of Representatives, is regarded as a member of the Governing Council in Baghdad that the Investment Commission of Iraq's budget investment for the current year has been delayed disbursement.

The Iraqi Finance Minister Bayan Jabr, in an interview for "Alsumaria News", "The Ministry of Finance issued instructions, since last January, the launch of the Iraqi federal budget, for the first time in Iraq, even before the approval by the Iraqi parliament", indicating that "was launched 20% of the investment budget to the provinces and the Iraqi ministries."

It was made clear that al-Zubaidi "instructions of the Ministry of Finance, requires that the release is 10% of the investment budget to the provinces and the Iraqi ministries month, but it was launched 20% of the investment budget for these provinces," stressing "the need for optimal use of the investment budget for 2010, and activate the sector investment for the implementation of conservation projects. "

"Now that the" 2010 budget will see the re-payments, which did not place in 2009 within the investment budget, and 50% released at the beginning of the year and 50% release when it approved the supplementary budget, as well as the release of 20% of the investment budget for 2010, for the continuation of project work continuing to maintain. "

The Iraqi Council of Representatives voted in the 26 last month, on the state budget for the current year 2010, after long discussions and objections from some political parties for fear that use of the election campaign by the governmental parties, and in the paragraphs that have been approved within the budget, the Article 21, which provided 115 thousand to link the degree of functional Council was established by the Federal Service.

For his part, member of the Governing Council in Baghdad, Thaer Investment Authority Feeli that "the Iraqi budget for the current year 2010, may also be delayed disbursement, due to delayed approval by the House of Representatives, which has negatively impacted heavily on the projects will be completed and projects that are under way.

Feili said in an interview with "Alsumaria News", that "many of the investment projects which will hopefully start during this year's schedule will be delayed", stating that "delay budget led to the suspension of many projects in the governorates of Iraq due to stop by the exchange."

. Feili added that "failure to pay the balance in timing appropriate reason Tlkua in the work of state institutions, investment, because most investment projects associated with successive time frames for funding and achievement," noting that "a cessation of funding would lead to the suspension of the entire project."

Feeli stressed that "there are some foreign companies that filed complaints because of the delayed payment of dues, especially in Baghdad, Basra and Mosul."

. Often delayed and the Ministry of Finance in the launch of the investment budget until March or April, because of the delay in ratifying it, by the Iraqi Council of Representatives, and the Iraqi budget depends on oil imports by more than 90%, where the finance ministry put the price of a barrel of oil in 2010, by $ 60 .

The cabinet approved in its session of the thirteenth month of October, the federal budget for 2010 of $ 83 trillion Iraqi dinars, which contains the supplementary budget for the year 2009, amounting to five trillion and 300 billion, was approved by the House of Representatives in January last, As called for provinces to increase their share of the budget.

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[IcemanSC]

Thanks for the post.