Thursday, December 28, 2006
2007 budget of $41 bn approved
Finance
The government has approved the budget for 2007 estimated at $41 billion. The budget is the biggest in the years since the 2003 U.S. invasion due to skyrocketing oil prices. Saffa al-Safi, state minister for parliamentary affairs, said the figures for the 2007 budget “are encouraging in comparison with previous budgets.”
One fourth ($10 billion) of the money available for 2007 has been earmarked for development and reconstruction. Allocations for security are the second largest, totaling $7.5 billion. Allocations for education have been doubled to $2.6 billion and there will be a 7% increase for the health sector for which $1.8 billion has been earmarked. Some $5.2 billion will go to provincial municipalities. If implemented properly, the budget should create 136,000 new jobs, said Safi. The cabinet has passed the budget to the parliament for approval.
One fourth ($10 billion) of the money available for 2007 has been earmarked for development and reconstruction. Allocations for security are the second largest, totaling $7.5 billion. Allocations for education have been doubled to $2.6 billion and there will be a 7% increase for the health sector for which $1.8 billion has been earmarked. Some $5.2 billion will go to provincial municipalities. If implemented properly, the budget should create 136,000 new jobs, said Safi. The cabinet has passed the budget to the parliament for approval.
