Source: budget deficit prediction 2012

Date posted 05/07/2012 10:21 AM

Babnioz-agencies: Government source confirmed that the administrator of the federal budget deficit for the current year 2012, $13.5 billion deficit is my guess only, indicating that public budgets of past years there has been no real deficit.

Government spokesman Ali al-Dabbagh (features & status of the Iraqi media network) that "disability is my thing and didn't get that there was a shortfall in the budget of previous years because of non-payment of investment budget in full by ministries and governorates and therefore did not arise".

Announcement of the fiscal deficit issue exceeded the budget this year after the Government announced ratification of the supplementary budget amounting to about 11 trillion dinars.

House has expressed concern that the general budget of the State affected by the drop in oil prices in global markets and the inability to access the oil export ceiling budget chart of 2.6 million b/l.

Iraq admitted in February last balance 2012 $100 billion dollars (about 117 trillion Iraqi dinar) and deficit up to 13.5 billion dollars (around 17 trillion dinars).

Provides a general Iraq budget lines in 2012 "If high oil prices to more than $85 a barrel, 25 percent of the budget surpluses were distributed to citizens."

The Government formed a Committee composed of the ministries of finance and planning to develop a mechanism for the distribution of payments to citizens.