"Gate of Iraq" BAGHDAD - The Iraqi Central Bank, on Tuesday, that the budget deficit in 2012 of 20 trillion Iraqi dinars, or gain of 10% of GDP, confirming that the budget deficit by default and can be treated through the stabilization of world oil prices and remain above $ 104.
The parliamentary Finance Committee announced on Monday that Iraq will not need to borrow from the IMF, which is hoped to give Iraq $ 4 billion.
And endorsed the Iraqi government in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).
The deputy governor of the Central Bank of the appearance of Mohammed Saleh said that "the budget deficit in 2012, a gain of 10% of GDP, or $ 20 trillion Iraqi dinars, a deficit Default does not require any economic worries because he put on the basis of the price of oil up to $ 85 and energy export 2.6 million day and Economic Outlook refers to the price of a barrel of oil because the fall to below $ 104. "
He added that "the stability of oil prices at this level confirms that Iraq will address the deficit in the budget planning without the use of international loans or any other."
It was hoped to proceed after the House of Representatives to discuss budget items in preparation for approval by the emergence of political problems hit the legislative institution of the kind of inertia.
Saleh pointed out that "the central bank hopes that rising oil production and stabilize the price per barrel and that the institutions implement government investment map well and as planned without any failure and not to return the money allocated for investment, as happened in the budget of previous years."
The country has a political crisis triggered by the Iraqi judiciary, days after a U.S. withdrawal when they issued an arrest warrant for Vice President Tareq al-Hashemi on charges related to leadership involvement in death squads and cooperation with "terrorism" in addition to al-Maliki sought to isolate his deputy, Saleh al-Mutlaq.
And raising the Iraqi parliament in the last weeks of its more than once to a lack of quorum due to the continuing its boycott by the members of the Iraqi List, which is the second largest parliamentary bloc.