GOI predicts 2014 Budget will be presented to Council of Ministry within next two weeks

Posted: December 1, 2013 in Iraqi Dinar/Politics
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Federal Government predicted Sunday the completion of the federal budget for the year 2014 within the next two weeks.

The most controversial point of the draft next year’s budget dues Kurdistan Region of Finance after the federal government sought to reduce the ratio to 10% instead of 17% compensation for financial losses she stopped by the region for the export of oil.

The Minister of State for Parliamentary Affairs purity of net debt for “Twilight News”, “The committee in charge of the follow-up file federal budget is still far from work did not end Manmha.”

He predicted that the net “accomplish the federal budget and presented to the Council of Ministers within the next two weeks.”

The Finance Ministry said last month that a sub-committee of the Council of Ministers began discussions of the federal budget for 2014 before submission to the Board for discussion and approval.

According to preliminary figures estimated that the size of the federal budget for next year is 176.5 trillion dinars, which is the largest in the history of Iraq, which has paid the most attention to file energy, security and services.

Kurdistan and stopped pumping oil to the Iraqi government line late last year because of disagreements over payments to foreign companies operating in the region.

The demands of the Kurdistan about four billion dollars accrued to oil companies that develop fields in the region, but Baghdad refuses to pay.

The House of Representatives of the Kurds in the Iraqi Council of Representatives has boycotted the voting session on the budget in 2013 in protest against the non-inclusion of dues oil companies under the terms of the budget.

The region tends to export its oil to world markets via Turkey, despite opposition from Baghdad.



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