Friday, 17 October 2008

No budget surplus in 2009

Iraq is unlikly to witness a budget surplus this year and the next as oil prices are sliding, a lawmaker and a government spokesman told The Associated Press.

Abbas al-Bayati, a senior lawmaker of the United Iraqi Alliance, the largest Shiite bloc in parliament expected Friday the government to cut its budget next year by $15 billion because of falling oil prices.It was planned to stand at US$79 billion.

Al-Bayati's statement came two days after the spokesman of the Iraqi Finance Ministry, Adnan Abdul-Rahman also told The AP that his Ministry will reconsider a new average price per barrel of oil instead of the previously US$80.

But whatever the budget and the surplus will be, I'm confident that Iraqis' sufferings will not be eased and their needs will not met.

This government and its officials especially senior ones have approved that they are incapable to run this country properly by making use of its resources to put it on the track and get it out of its turmoil.

And this was clear when its Electricity Minister last month said that he would hire a British consultancy company to advice his Ministry how to implement projects !!!

And not only this. He also stated in a press conference that Iraqis should count two years from now when they will see improvement the electricity, throwing behind his back his first two years in office during which he was boasting his ambitious plans to get electricity back to normal.

This is only one of the example for the government's failure in spending this money and of course there are more and more....

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