The government sends a report to Congress tomorrow on the mechanism for disbursement of the Iraqi 2011 budget

(Post from Debbie, The IQD Team)

The government sends a report to Congress tomorrow on the mechanism for disbursement of the Iraqi 2011 budget

11-10-2011 | (Voice of Iraq) - (Rn)

The Iraqi government said it would send, on Wednesday for a detailed report to the House of Representatives on the mechanism of exchange balance in 2011.

The Iraqi Parliament approved 20 of the month of February last the 2011 budget of $ 82.6 billion dollars, of which $ 25.7 billion of investments, to estimate the price of a barrel of oil at $ 76.50, and exports will reach 2.2 million barrels a day, a budget the largest in the history of Iraq.

The government has predicted that the deficit of $ 13.4 billion, Iraq relies on oil exports by about 95 per cent to support the budget.

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The Economic Adviser in the government peace Qureshi, told the Kurdish news agency (Rn) that "the Iraqi government tomorrow will send a detailed report to the House of Representatives has the mechanisms for disbursing the budget in 2011."

"The report contains the process of recycling of funds that occurred in the 2011 budget and how the government deals with the important financial files, particularly with respect to disclose the final accounts of the ministries every three months."

He Quraishi that "the government followed a new mechanism in the disbursement of the budget in 2011 to prevent the accumulation of provisions and operation of a large proportion of them despite the fact that the investment part of 20% of real value."

The Integrity Committee in the Iraqi parliament has demanded on Monday the government headed by Nuri al-Maliki by providing them with official documents that show the financial aspects of the Iraqi exchange budgets in the years that followed the fall of the former Iraqi regime in 2003.

A member of the Sabah al-Saadi (Rn), "The Iraqi government did not send the documents and the documentation for the statements of final accounts since 2004 and until this year because they sent files that are not official does not contain vouchers financial budgets of previous years and reduced the papers illustrative of the process of exchange."

He explained that "the Parliamentary Integrity Commission sent official letters to the Iraqi government to send in the files of the previous fiscal budgets in a transparent manner away from the foggy and covering the operations of financial corruption."

He Saadi said "what the government does not send clear mechanisms for the disbursement of funds and percentage of completion of projects and how to contract with companies that carry out government projects."

Government figures indicate that Iraq's budget for next year will amount to 131 trillion Iraqi dinars (about $ 112 billion), up 36% from the current year budget and a deficit of 23.3 trillion Iraqi dinars (20 billion dollars).

The government says the deficit will be met from cash retained from the current year budget 2011 is internal and external borrowing and the rate of savings is expected to increase selling prices or increased oil production or borrowing from the IMF and World Bank.

From: Jafar Allonan. Open: Abdullah Sabri

http://www.sotaliraq.com/mobile-news.php?id=27781