Government utilizes the (DFI) Fund for the payment of operating expenses

By | March 15, 2014

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Baghdad / Orr News

The parliamentary committees confirmed delay adoption of the budget cost Iraq six billion dollars a month, is likely to postpone the implementation of the projects in 2014 because of the delayed passage of the budget, until the first quarter of 2015.

Hassan Wahab, a member of the Finance Committee in the House of Representatives said that “Iraq is losing huge sums of more than $6 billion dollars per month, due to the delay adoption of the budget.” He gave, “the political blocs all responsibility disruption, as well as the case for the government because they did not agree on a certain formula to avoid the nation’s current “.

He added, “Disable investment projects implemented means relocating an entire year, which gets at the moment.” He went on to say, “The government is currently spending returns that you get from the Oil Fund (DFI) which means that operating expenses have found a bug in the funds and projects.”

The Ministry of Planning, the high proportion of the operating budget within the current year of 2014, noted that the expected accretion in the labor force “embarrassed” put the current budget. He warned of the donation, “not to pass the budget soon because the current political situation indicates a delay in the formation of the next government, and it will damage the Iraqi financial system and the economy in general.”

The Council of Representatives, last January, the first reading of the budget bill for 2014, but it failed, while the State of Law coalition accused the Kurds and the coalition united to derail passed. Experts say the financial and economic situation associated with the budget passes in critical condition, with the approaching end of the age of the parliament without reaching a compromise formula for approval.

Orr News

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