Finance Ministry determine next year’s budget of 145 trillion dinars

Finance Ministry determine next year’s budget of 145 trillion dinars



1.8 trillion dinars municipal allocations for the year 2014

Baghdad Ali Ahmed Abed Rabbo


 The Ministry of Finance budget next year of 145 trillion dinars , while the Ministry of Municipalities revealed that next year ‘s allocations set by the Ministry of Planning and Finance in the general budget 1.8 trillion dinars.

The agent said the Ministry of Finance Fadel Abdul Nabi ‘s ” Center Brief for the Iraqi Media Network “: that the amounts set by the ministries counterbalance have exceeded the amount of the state budget which is set at 145 trillion dinars for the coming year 2014, adding that the ministry is in the process of reducing such amounts to the extent that can be met over the next year , adding that the budget deficit exceeded 18 trillion dinars , indicating the absence of a financial surplus due to acts of sabotage suffered by oil pipelines , adding that the ministry is seeking to increase the investment budget being contribute to the implementation of projects that are in the interest of the citizen, stressing at the time the same that the ministry will be covered by the companies to pay the salaries of the staff of the self-financing of the public sector over the next year .

For its part, demanded that a member of the Finance Committee in the House of Representatives Najiba Najib told the ” Center Brief for the Iraqi Media Network ” to accelerate in the presentation of the state budget for the year 2014 in the House of Representatives in order to be studied thoroughly and approval , pointing to the importance of taking into account fluctuations in global oil prices when determining the price of a barrel of oil as a basis to calculate the budget , indicating that the sudden drop oil prices presents the budget to the risk of being supported mainly on oil revenues.

Najib called government to the need to increase investment expenditure in the budget of operational expense with the completion of the final accounts , as well as the need to end the relationship with the Kurdistan region.

In the same context , media adviser at the Ministry of municipalities Jassim Mohammed Salem ‘s ” Center Brief for the Iraqi Media Network, ” said the minister Adel Al- Mhodr said during a meeting with representatives of consulting firms contracted by the ministry to complete the designs projects next year on the importance of completion within the next couple of months to be ready for Advertising assignment on implementation after approval of the budget year 2014 hoped to reach 1.8 trillion dinars.

He pointed out that the ministry has referred more than 21 projects strategically in Baghdad and the provinces on the design, noting that the strategy of the ministry depends on the design of projects by consulting firms specializing before referring them has succeeded in shortened the time of delivery and added new techniques developed cope with the evolution in the sectors of water and sanitation health .

Salem said the ministry has prepared a project for the completion of studies and designs for projects this year, in coordination with the offices of international consultants with experience and competence in this area, stressing that the implementation of this project will facilitate the steps referral projects and approval of the implementation if the adoption of strategic plan for the implementation of infrastructure , especially in the the areas of water projects and sanitation according to a deliberate plan and database , as required, and the percentage of population of each province .

That part of next year’s budget will be monitored to complete the completion of service projects initiated by implementing the ministry in previous years , adding that the ministry will work to prepare a balanced plan for 2014 match with their money within the budget of public focus on the implementation of priority projects for the Iraqi people .

The allocation of this amount is as good compared to the capacity of the ministry in the disbursement of those customizations , indicating that the financial budget allocated to the ministry during the current year amounting trillion and 770 billion dinars , as it was able to ministry which the assignment of more than 30 projects strategically on implementation in Baghdad and the provinces .

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So it looks like a smaller budget for FY2014. If I am parsing this correctly, this is to make up for lost revenue due to violence and the drop in oil prices.

Gee, at $3.44 per dinar, that sounds like a really big budget.  You guys do remember that it RVed in country, right?