Economists: The State's Reliance on Oil Imports (Cripple Its Economy)

He stressed Economists on the necessity of activating the decisions collects money owed to the citizens and not to rely on imports of oil sales as the basis for the country's economy to the magnitude of the economic risks in the near term, while confirming the parliamentary Economic Committee that the weakness in the collection of funds government revenue falls to the Ministries of Finance and Planning, which cause by making unilateral budget.

A member of the Parliamentary Commission of Economy Aziz Mayahi "The government revenue and private provision of public service to the citizens decreased dramatically after the change that took place in 2003 due to the cancellation of the government a lot of tax laws.

He added Mayahi "that returns control of the sale of oil over most of the Iraqi economy led to ignore the Internal Revenue Service for the ministries and public bodies and lack of contribution to the federal budget, but to remember the proportions I said it.

He explained that the interference in the laws of the collection of taxes and dues governmental and non-application of the existing ones according to the spammers correct items and instructions from the window to make some compromise on their rights institutions imposed on Moatn.

http://alestiqama.com/?p=108099

Liberals: Merge Almoisntin Fiscal Contrary to The Financial Administration Act And Confusing Economic Reality

BAGHDAD - Iraq Press - August 3 / August: Liberal bloc stressed that "the integration of The Budgets of 2014 and 2015 in one package contrary to the Financial Administration Act and the Public Debt No. 95 of 2004 as amended and confusing  to the economic reality in the country.

The Member of Parliament for the Liberal bloc, Magda al-Tamimi   said that "among the definitions section (2) of the Financial Administration Act and the Public Debt No. 95 of 2004 amended there is a clause stating that the budget allocation is the legal authority granted to the government to spend public money during the fiscal year for the purposes of specific.

She drew Tamimi said that "among the definitions in the law that the budget program of financial speculation based on annual income and expenses and in-kind transfers and attributes of the Government.

She added that "the text within Chapter IV of the Act in general provisions confirms approving the budget year financial and takes effect during the year that passed her assignments," pointing out that "we conclude that it is not permissible to integrate Moisntin by law and must be approved by each one of them separately.

http://www.iraqpressagency.com/?p=80242&lang=ar

Iraq Economy After 10 Years of the Invasion

Source by: Dinar Deal's Alert

URL: http://feedproxy.google.com/~r/DinarDealsAlert/~3/cZS8KZkVN4Y/

After the ten years of the invasion, Iraq economy is still limping and crawling. The current Maliki government is trying their best to overcome prevailing political and sectarian issues in many provinces. The Iraq Federal Budget 2013 has been passed after a series of sessions on the 7th of March. Differences of opinion on the budget allocations for different regions are still there among the various political groups. According to UN statistics, the Iraq economy showed 8% growth in the last year, and it is hoped that the growth will touch 9% digit this year. More detail please visit here

Latest updates about Iraqi News and Iraqi Economy in 2013 please Subscribe Here

Iraq Boosts Gold Reserves

Iraq manufactured its first major relocate many years to improve the gold supplies, joining key banking institutions coming from growing market financial systems including Brazil along with Spain in diversifying their international reserves.

According to a report from the Lebanese Daily Legend, central standard bank has bought are already one of the greatest owners involving gold’s rally considering that 2010 - per year that observed main banking institutions turning internet consumers from the platinum initially by 50 % decades in the middle of increasing questions concerning the balance in the dollar as the world’s leading arrange currency exchange.

During the period of 3 months in between June and March this season, Iraq’s gold holdings quadrupled for you to 31.07 tonnes, your Worldwide Monetary Fund‘s month-to-month data document showed in Thurs.