On: Wednesday 25/1/2012 7:36
□ Baghdad / follow-up range
Central Bank announced that the budget deficit in 2012 is 20 trillion dinars, or 10% of GDP, confirming that the budget deficit by default and can be treated through the stabilization of world oil prices remain above the $ 104.
The deputy governor of the Central Bank of the appearance of Mohammed Saleh, according to (Rn) that "the budget deficit in 2012 of 10% of the gross domestic product any $ 20 trillion dinars a deficit Default does not require any economic worries because he put on the basis of the price up to $ 85 Energy export and 2.6 million daily and economic forecasts indicate that the price of a barrel of oil may 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."
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.
Announced that the Finance Committee in the House that Iraq will not need to borrow from the IMF, which is hoped to give him $ 4 billion.
The government acknowledged in its emergency meeting in (12/05/2011) budget in 2012 by $ 100 billion (about 117 trillion dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).
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. For his part, warned that economic peace Sumaisem economic problem of a so-called "stagflation" in the country in case of delay adoption of the budget leads to unemployment and lack of absorption of delay in the implementation of investment projects.
The Sumaisem's Agency (news): The late adoption of the budget and not release financial allocations their time specified will lead to economic problems, many in the country, including the so-called "stagflation" as a result of worsening unemployment and lack of absorption, in addition to their direct impact on investment plans established by the ministries and departments by not launching investment budget allocations to it and continued disbursement of the financial allocations for operational matters.
She Sumaisem: that local markets are rising today as a result the prices of the gap between supply and aggregate demand, asserting that the delay in adoption of the budget will affect the implementation of many investment projects needed by the country's inflation, which will make it there in the market and a recession in the economic process.
It called for the rapid approval of the financial budget for this year to early release of the financial allocations to the provinces. And ministries for the implementation of investment projects and avoid a lot of economic problems in the country.
This is today's Iraq is a state of tension in the political arena, making economists worry the impact of political crisis on economic issues at a time when the country is in dire need to implement strategic projects and service it.
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