| 2007: Finance Minister confirms Iraq's commitment to the Convention (SBA) with the International Monetary |
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6/11/07 The Finance Minister Baqer Jabr Al-Zubaydi that fiscal policy pursued by the Ministry of Finance to lift the pace of implementation of the budget 2007 investment budget focused particularly for the provision of basic services for the Iraqi people and completing reconstruction of infrastructure and activate the Iraqi economy and particularly the activation of the private sector to increase its role in the development of the Iraqi economy. This came during his presidency to the Iraqi side at the meetings held in Amman for the period from 4 June 10, 2007 with IMF experts to conduct a review of the implementation of the Fifth Iraq's obligations under the Convention on the back (SBA), signed by Iraq with the International Monetary Fund in December of 2005 and transferred to the source today, Monday, the ministry. .The minister said in the opening speech that Iraq was committed to the completion of all obligations under the Convention on the (SBA) signed with the International Monetary Fund, where efforts are being made to complete a private matter so, pointing out that the Ministry of Finance has held conferences and bilateral meetings with ministers, deputy ministers and Gentlemen conservatives over the past four months for follow-up project implementation rates for providing services to citizens and to combat unemployment and building the infrastructure of the country where the ministry has launched special funds for the implementation of the investment budget and the development of mechanisms to facilitate the exchange and the opening credits Special so. The Minister added that the cadres of the Ministry of Finance has prepared financial statements relating to the implementation of the budget for the first quarter of 2007 and submitted to the IMF experts, this has completed the financial committees which have been formed from the Ministry of Finance and the Office of Financial Supervision and advisers Albernek Point of the special subjects manual accounting and classification of the budget and will soon be finalized and prepared formulas Finance Minister also pointed that the Supreme Committee which was formed to follow up and supervise the implementation of the project (surveying workers) in the State and preparing the payroll, discussed table on the implementation of the project with the design of the forms for the collection of information required. Lastly, the Minister of Finance, he had been successful in re-structuring of a number of institutions and industrial companies Assembly (economically feasible) through the provision of loans from banks on commercial basis for the purchase of equipment necessary for its operation. This has participated in the meetings Mr. Iraqi Central Bank Governor Sinan Al-Shabibi, who dealt in discussions of monetary policy followed by the bank to reduce inflation and stabilize prices through the use of various tools of monetary policy, including exchange rates and interest rates also participated Saad Alhayani Ambassador of Iraq in these meetings note that the technical cadres of a number of Iraqi officials in the Ministry of Finance, Planning and oil, trade and industry, minerals and the Ministry of Labor and Social Affairs and members of the House of Representatives (Finance Committee), in addition to representatives from the Rafidain Bank and Rasheed Bank and Iraqi commercial and the Department of Taxation and the General Customs Service and the retirement had been met experts with the International Monetary Fund over 4 6-8 for substantive discussions included the implementation of the budget in 2007 and in particular the investment budget and the results achieved during the first quarter of this year and the action taken by the oil sector to increase production and exportation rates, which is the main source of finance and budget, the most important steps taken to provide petroleum products a law liberalization of the import of petroleum products into force meetings also touched on procedures ministries to provide basic goods and services to minimize the suffering of the Iraqi citizen, as well as the network of social protection and the number of poor families that have been covered by this network. Source:Iraqi News Agency |