Finance Ministry Predicts $130B 2014 Budget; Increased Reserves Provide Stability to Dinar

Posted by on Oct 27, 2013 | Leave a Comment

$ 130 billion budget 2014

02/07/2013 12:00 AM

Increase the cash reserves of the Central Bank will strengthen the stability of the dinar

predicted the Finance Committee parliamentary an increase in the general budget for the year 2014 by between 7-10 percent from the current year budget, while the Ministry of Finance announced yesterday completed its image preliminary and that it will discuss the draft of this week with the ministries and independent bodies, under these projections, the budget next year would be about $ 130 billion.

Come these measures in order to approve the budget next year early after witnessing the process of approving the budget, the current state-Shada and attractive between the political parties in the House of Representatives, which led to delayed approval and the impact on the projects implemented in the country.

Member of the Finance Committee Abdul Hussein al-Yasiri said the “Center Brief for network Iraqi media “:” The Ministry of Finance is no longer so far the general budget for the coming year, however, they discussed the budget of the Supreme Judicial and balancing the House of Representatives to see the shenanigans that Tktnfema. “and explained that” the budget law requires that the Judicial Council to prepare its budget and sent to the House of Representatives, as The Council of Representatives, in turn prepare its budget and sent to the government for approval before approving the budget, the public to know the problems existing in particular with respect to conflict of figures. “

For its part, Ministry of Finance announced yesterday that it will be discussed this week with the ministries and independent bodies draft budget for 2014, confirming that it completed’s preliminary her. Said Undersecretary Fadel prophet told the “Center Brief for the Iraqi Media Network:” The ministry has completed the initial select the image for the next budget year 2014, explaining that he “would be discussed with the concerned ministries next week.”

The House of Representatives has asked the Ministry of Finance earlier in the completion of development of the financial budget for the year 2014 and presented to the Council in the month of August next for discussion and approval.

To it confirmed the decision of the Committee of Economy and Investment parliamentary deputy Mahma Khalil, that the increase in reserves Central Bank of hard currency will enhance the stability of the Iraqi dinar and develop the national economy.

Khalil said in a press statement: that the increase in foreign exchange reserves of the Central Bank for more than 80 billion dollars, which means that every Iraqi dinars located inside or outside Iraq covered two dollars and a half dollar, because the size of the blocks cash of the Iraqi currency has (33 ) trillion dinars.,

adding that this increase will strengthen the stability of the exchange rate of the Iraqi dinar against the U.S. dollar and the international currency because it would be a safe haven for him, well that will enhance national economic growth. was the Iraqi Central Bank has announced to increase its reserve cash in hard currency to more than (80) billion dollars.

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