Al-Dabbagh: the Council of Ministers discusses the draft federal budget for the year 2009 worth approximately 94 trillion Iraqi dinars

 

Dr. Ali Al-Dabbagh, The Official Spokesman for the Government of Iraq, announced that the Council of Ministers discussed at its meeting today’s morning the draft Federal Budget of The Republic of Iraq for the year 2009. This budget will consent to the payment of 94 trillion dinars (approximately 78.8 billion dollars), with an increase of 58% compared to 2008.

Al-Dabbagh added that oil revenues had increased by 65% comprising 93.6% of the total revenues of the Iraqi treasury for next year. He pointed out that the value of the financial deficit in the proposed budget reaches up to 20 trillion dinars (approximately 16 billion dollars).

 
Al-Dabbagh clarified that operational costs were allocated 72 trillion Iraqi dinars (approximately 60 billion dollars) of the proposed budget with an increase of 63.6% from last year. Meanwhile; the allocated sum for capital investment is 22 trillion dinars (approximately 18.6 billion dollars), with an increase of 42.6% from last year. While the total amounts for support, aids and social benefits provided by the Government will be around 14.8 trillion dinars (approximately 12 billion dollars). This includes Ration Card allocations and the support to the state-owned enterprises, farmers, the social protection network, the import Kerosene, pilgrimage support, the purchasing of medicines and the import of electric power and fuel for generating it. This means an increase of 15.6%, as the amount allocated to the ration card alone is 6.3 trillion dinars (approximately 5.3 billion dollars). Meanwhile; the allocated amount for the entities and Public companies owned by the state, which employs more than 600 thousand people, to be an estimated 4.9 trillion dinars (approximately 4 billion dollars) .

Al-Dabbagh also pointed out to the allocation of 6 trillion dinars (approximately 5 billion dollars) to the Regional Development and Provincial Reconstruction Program within the proposed budget for next year. This comes in accordance with government policy aimed at accelerating provincial reconstruction and economic development.