DID YOU KNOW? DTIC has over 3.5 million final reports on DoD funded research, development, test, and evaluation activities available to our registered users. Click HERE
to register or log in.
Iraqi-U.S. Cost-Sharing: Iraq Has a Cumulative Budget Surplus, Offering the Potential for Further Cost-Sharing
[Technical Report, Congressional Report]
United States Government Accountability Office
Pagination or Media Count:
GAO analysis of Iraqi government data showed that Iraq generated an estimated cumulative budget surplus of 52.1 billion through the end of 2009. This estimate is consistent with the method that Iraq uses to calculate its fiscal position. Adjusting for 40.3 billion in estimated outstanding advances as of September 2009 reduces the amount of available surplus funds to 11.8 billion. In April 2010, a senior Ministry of Finance official stated that advances should be deducted from the budget surplus because they are committed for future expenditures or have been paid out. According to this official and Board of Supreme Audit reports on Iraqs financial statements, advances include funds for letters of credit, advance payments on domestic contracts, and other advances.
[A, Approved For Public Release]