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2012 – 2013 Iraqi Budget – 10% Growth Anticipated

18 Dec 2012
It was recently disclosed by the Economic Commission parliamentary progress rate between the budget in 2014 and the current estimated up to 10%. It was said by a member of the committee of Iraqi list MP Qusay Abadi said that the increase rate between budgets in 2012, and 2013 is guesstimated at 10%. It was decided by the cabinet at its forty-sixth general meeting and held on 23rd October, 2012, accepted a draft law the federal budget for 2013 of $138 trillion dinars, an raise of 18% from 2011. The cabinet statement was received, which said that the total federal revenue amounted to 119.3 trillion dinars were output of calculating the profits from export of crude oil at an average price, 90 dollars per barrel and export capability of up to 2.9 million barrels per day, which also includes the quantity produced and exported from the Kurdistan region and the 250 thousand barrels per day, where oil revenues will make this Development Fund for Iraq. After deducting the 5% for war damages, Kuwait has reached the investment budget 55 trillion dinars and the operating budget 83 trillion dinars distributed to the ministries, institutions and state bodies all terms public expenditure will be distributed according to the population ratios after excluding allotments of the federal ministry center and sovereign expenses. Source: [Dananer News]
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