Shafaq News/ With the approach of the arrival date of the budget of 2012 to the House of Representatives for approval after objections and comments made by legislators, views of the relevant committees on the latest version varied, at a time the parliamentary Committee of the economy and investment stipulated that the government should accomplish the final accounts for the previous years in exchange for ratification. The Financial Committee revealed the provision of the final accounts of the past three years, while the Ministry of Finance confirmed that the deficit will decline in the budget to five trillion Iraqi dinars out of the 14 trillion.
The parliamentary Finance Committee has, in the beginning of this month, on the completion of the budget in 2012, explained that it was able to persuade the International Monetary Fund not to reduce the amounts allocated to projects, services and regional development.
" The House of Representatives demands not to approve the budget of 2012, in the absence of government final accounts for previous years." The member of the Committee of Economy and Investment Mahma Khalil said in an interview with "Shafaq News" ,indicating  that "the price per barrel of oil will exceed $ 100 as a result of the events and political, economic and security changes in the region and the world, and that contrary to what was adopted by the government in the pricing of a barrel of oil, which amounted to $ 85."
The head of the Finance Committee Haider al-Abadi, had said last week, during a press conference in the parliament building that the 2012 budget will reach the House of Representatives next week after the Ministry of Finance to reduce the deficit, and adopt pricing of $ 85 per barrel of oil.

For his part, Finance Minister Rafie al-Issawi said in a statement received by the "Shafaq News" "The budget deficit will drop to five trillion Iraqi dinars (four billion dollars) by the end of 2014 from 14 trillion dinars (12 billion dollars) expected in 2012 with the benefit of the country to increase oil revenues, "noting that" the deficit, according to the ministry's plan in three years to 2014 will decrease steadily with the growth of production and exports of oil. "
It is noteworthy that the approved pricing per barrel of oil in the budget of 2012 is $ 85 and the size of oil exports is 2.625 million barrels per day.