Iraqi Budget

I heard and read as most of the Iraqis did the latest statements of our minister of finance which proved with no dispute that the ministries and governorates are not serious in investing the amount of money being given for them by the government from the budget of this year which is more than 41 billion dollars ensuring that more than two ministries didn’t spend more than 1% of their budget!!! .

That thing totally matched with the president Talbani’s speech during a meeting with some journalists and writers saying “We have lots of money in our treasury, but we can’t find the proper ways to use them in rebuilding and having service projects giving blames on the security reasons and others”.

With the confusing of the executive offices in investing all these amounts of money which increase day by day, we were surprised to have the parliament approved the Japanese loan which is about 860 million dollars. This loan as compared with the billions that Iraq has in its treasury or in the reverse of the state which is about 21 billions for the Iraqi development fund in New York  would be useless.

So after knowing the amount we have with loan we will get it will be fair enough to ask why do the Iraqi government demand the Arabic and other countries to abolish their credits after having Paris Club abolishing more than 100 billions in a condition of keeping the governments hand off from oil products?Is this a new demand by the officials to open a new list for credits having the Japanese on the top?

I don’t know what benefit we shall have from that loan to be compared by the billions we have which are not invested in projects to be useful for the Iraqi people. It might possibly be used as tips for those who deserve it from officials who work day and night out side their country.

Comments

[ljm]

I've read that money spent in the provinces is going toward projects that benefit the people over the system in place with the centralized federal government. I've also read that with the debt forgiveness of various countries to Iraq, whenever the war does end, Iraq could emerge in financially good shape. I can't say the same for the US. We've borrowed billions and billions to pay for this war.