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Parliament: budget deficit 2013 will be repaid from the abundance of the current year
12/11/2012 12:00 am
BAGHDAD - morning
confirmed a member of the Finance Committee, MP Hassan Salman al-Bayati, is not affected by the budget deficit (2013) on the national economy, stressing will be repaid from the financial abundance achieved in the budget year (2012).
Economic Commission has announced in the House of Representatives, that the budget deficit in the year 2013 will reach 19 trillion dinars.
told Bayati: that the fiscal deficit is installed in the budget year (2013) is a deficit Tkhmonaa and not real, because the deficit does not appear until after the end of the fiscal year. added: If there is a large fiscal deficit in the next budget will be repaid from abundance financial in the Development Fund for Iraq at the United Nations as well as the abundance achieved in the budget (2012) because the rate of expenditures amounted to (45 percent), likely pay the deficit at the beginning of next year.
The central bank announced earlier that the budget deficit in 2012 is 20 trillion dinars representing 10 percent of GDP, confirming that the budget deficit Default and can be processed through the stability of world oil prices and survival over $ 104.
mentioned that the Ministry of Finance announced that the proposed budget for 2013 amounted to $ 113 billion, and the rate oil $ 90 a barrel one. Cabinet had sent the general budget to the House of Representatives for the purpose of debating and voting on them. It is worth mentioning that the Iraqi Council of Representatives may vote on the budget for fiscal year 2012 in the amount of $ 100 billion, equivalent to 117 trillion dinars.
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