2-19-11 Parliament speaker insists on timely submission of federal budget in future

Highlights/Thoughts
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1. Nujaifi said that parliament will no longer accept the late submission of the final ccounts of the federal budget by government and its ministries
2. He sad that the final accounts of the budget are always late and that the handling of the budget requires stricter time management in the future
3. He said the accounts should be submitted early because the ratification of the budget requires integrated financial audit accounts with reports to determine the year's spending
4. He said they need to develop future strategies for the growing economy and that the economy should not be weak
5. Regarding the compensation payments to Kuwait, he said the government will make a serious effort to renegotiate the agreement
6. He explained they paid $31 bil in compensation to Kuwait leaving $22 bil
7. He said the 5% of oil exports for this year amounts to $5.23 bil and puts pressure on Iraq's federal budget for the year
8. He suggested that a new agreement could be reached in light of the positive atmosphere in the Iraq-Kuwait relations