Vice: The World Bank told the government the existence of an imbalance in the budget 2012

Saturday, February 18, 2012 13:59

Baghdad {: News} Euphrates MP for the State of Law coalition Riad Ghraib, the World Bank told the Iraqi government, the existence of a clear imbalance in the financial budget for the current year related to the size of the operational budget.

The stranger told the News} {Euphrates on Saturday that "the Bank is one clear flaw in the federal budget to Iraq this year, told the Iraqi side that includes the operating budget is 75% of the amount the consumer."

He added that "except it is the amount of investment while you should take the amounts listed in a recipe amounts of investment by large considering that Iraq is a developing country requires large allocations for reconstruction and investment so that it can promote its economy local."

He continued that strange "reason for the imbalance in the budget due to the competition of the political blocs to gain the trust of Iraqi citizens at the expense of the investment projects which, although carried out in the long run it will serve the citizens well."

He noted that "the orientation of the political blocs have made this shift from the House of Representatives legislative institution to a charity," as he described.

The percentage of funds allocated for investment projects in the budget, 35%, while the rest of the acquired operating budget, particularly on the remaining ones.

The Government has adopted the Iraqi oil price of $ 85 basis, and expect, through differences in the price of oil, to cover more than $ 10 billion deficit.

The Iraqi government approved on 5 December last budget year 2012 amounting to $ 100 billion in about 117 trillion Iraqi dinars and a deficit of up to $ 13.5 billion {17 trillion dinars}.

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