Iraq (Hansard, 8 December 2003)

§ Mr. Menzies Campbell
To ask the Secretary of State for Foreign and Commonwealth Affairs what estimate he has made of the revenues which derived from sales of Iraqi oil in each month since April; and if he will make a statement. [141175]

§ Mr. Straw
[holding answer 8 December 2003]Total revenue from Iraqi oil sales paid into the Development Fund for Iraq since exports restarted in June until 26 November amounted to $2.479 billion.

§ Mr. Menzies Campbell
To ask the Secretary of State for Foreign and Commonwealth Affairs what the(a) income and (b) expenditure of the Coalition Provisional Authority in Iraq was in each month since April; how much was spent by (i) amount and (ii) percentage in each sector; and if he will make a statement. [141176]

§ Mr. Straw
[holding answer 8 December 2003]Monthly income and expenditure data for the Coalition Provisional Authority (CPA) is not published and, as in the UK, nor is expenditures by sector.
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However, a Financial Management Information System is being implemented by the CPA to build capacity and move Iraq from a paper-based budgeting system to a real time expenditure system.
CPA income is derived from bilateral donations (such as US Congressional appropriations), from the sale of oil revenues, the transfer of Iraq's overseas assets, the seizure of assets from the former regime within Iraq, the transfer of remaining Oil For Food moneys from the UN Escrow account, and, under the CPA's usufructuary power, any revenues derived from Iraq's State Owned Enterprises and tax revenues. These revenue streams are accountable to different bodies, and a monthly consolidated single income account is not published. Total income data and forecasts are published in the annual Budget produced by the Iraqi Ministry of Finance and CPA.
Expenditure is determined by an annual budget process and is executed and published by economic activity undertaken in each Ministry rather than by sector.
The 2003 and 2004 Budgets are available on the CPA website (www.cpa-iraq.org). Cumulative income and expenditure totals for the Development Fund for Iraq (which includes the following elements of the CPA's income: oil revenues, transferred assets and Oil For Food monies) are also published on the CPA website.

§ Mr. Menzies Campbell
To ask the Secretary of State for Foreign and Commonwealth Affairs who is responsible for preparing the accounts of the Coalition Provisional Authority in Iraq; to whom it reports; and if he will make a statement. [141177]

§ Mr. Straw
[holding answer 3 December 2003]CPA accounts are prepared by officials of the CPA. The International Auditing and Monitoring Board (IAMB), established under UNSCR 1483 and comprising senior members of the UN, World Bank, IMF and Arab Fund for Social and Economic Development, is responsible for auditing the accounts of the Development Fund for Iraq. The IAMB members will appoint a firm of international auditors to act on their behalf in undertaking this responsibility.