Iraqi Parliament endorses 2012 federal budget

BAGHDAD / IraqiNews.com: The Iraqi Parliament endorsed the federal budget of 2012 including all 43 paragraphs, following months of discussions and differences. A parliamentary source told IraqiNews.com that there are suggestions within the coming meetings of the parliament to cancel profits on loans granted to the citizens and officials, and giving a grant to the retired who earn salaries less than 400.000 dinars. According to the Parliament’s electronic site, the budget reached to 102.326 billion and 898 million dinars, which was calculated on the oil exports base of 85 dollars per barrel, with an export capacity of 2.6 million b/d, including Kurdistan oil exports that reach to 175.000 b/d. The total deficit in the budget reached to 14.796 billion dinars. Approximately 17.171 billion dollars was allocated for defense purposes, while an additional 20.460 billion dollars was allocated for electricity. RM (TP)/SR916