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IMF: Iraq's budget for 2014 is exposed to shocks low


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#1 yota691

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Posted 12 December 2013 - 06:17 AM

 

2438.jpg?width=650&watermark=4

MP Magda Tamimi
 

Author: ah Editor: br reporter: ms

Number of readings: 115
 

12/12/2013 12:55

 

BAGHDAD / tomorrow Press: confirmed member of the parliamentary Finance Committee Magda al-Tamimi, on Thursday, the International Monetary Fund drew a report on the budget for Iraq in 2014 to the Ministry of Finance and a copy of it to the House and the Finance Committee he refers to the balance of 2014 to be discussed now before the Council of Ministers adopted on very optimistic assumptions about oil revenues.

Tamimi said in a statement seen by "tomorrow's Press," said that "what makes the budget vulnerable to shocks is the decline in oil prices and the delay in the increase of oil exports and moreover there is a significant increase in current expenditures."

It said al-Tamimi said that "the IMF report also pointed to a large deficit in the budget and the deterioration in the public financial management has included a budget laws recently allocation spending unrealistic increasingly," indicating that "the International Fund expressed concern over the possibility that make the current budget for the year 2014 Iraq's position is very weak. "

She pointed out that al-Tamimi, "the report warned that the huge withdrawals of the resources of the Development Fund for Iraq, particularly in the second half of the year 2013 which is due to a shortage caused by the unexpected revenue to oil exports coupled with the obligations of the tunnels are great for budget law in 2013."

The Finance Minister Ali Shukri announced in October 2013, ending the draft federal budget for Iraq for the next year 2014, which will amount to 174 billion U.S. dollars, while confirming they are still parliamentarians at the Council of Ministers.

 


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#2 sandfly

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Posted 12 December 2013 - 06:22 AM

THANKS


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#3 SgtFuryUSCZ

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Posted 12 December 2013 - 06:39 AM

***///

 

Take a chill pill, there, Magda, 'ol girl...

 

ya'll are filthy rich even w/o your oil...

 

just legitimize your currency globally and see how ya'll measure up --winner, winner, chicken dinner ! :D


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#4 Butifldrm

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Posted 12 December 2013 - 07:19 AM

Here we go again.  

 

She pointed out that al-Tamimi, "the report warned that the huge withdrawals of the resources of the Development Fund for Iraq, particularly in the second half of the year 2013 which is due to a shortage caused by the unexpected revenue to oil exports coupled with the obligations of the tunnels are great for budget law in 2013."

The Finance Minister Ali Shukri announced in October 2013, ending the draft federal budget for Iraq for the next year 2014, which will amount to 174 billion U.S. dollars, while confirming they are still parliamentarians at the Council of Ministers.

 

Iraq's 2014 budget was suppose to be 174T Iraqi Dinar or 150B USD

 

Legally, Iraq’s national budget has to be sent to parliament by October. But the 2014 budget, the largest in Iraq’s history and estimated at some 174 trillion Iraqi dinars ($150 billion dollars), still has not been sent for approval. 

http://rudaw.net/eng...distan/26112013

 

 

So what's going on, is this another TYPO?  If they raise the Three Zero's we would have 1 USD/1 IQD.

 

 


Edited by Butifldrm, 12 December 2013 - 07:20 AM.

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#5 MrOptimistic

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Posted 12 December 2013 - 11:52 AM

Iraq's ministry of planning has posted the justified exchange rate information on their government site

http://www.mop.gov.i...&pid=295&lng=en

Very last piece of info at the bottom.
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#6 skrappyone

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Posted 12 December 2013 - 04:29 PM

2.      Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the  economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc.

 

 

3.      Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

 

I will take the 3.208 or the 1.134.  Give it to me and watch me smile  :eyebrows:  :twothumbs:  :backflip:


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#7 WISKY291

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Posted 12 December 2013 - 07:04 PM

That would be sweet.


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#8 new york kevin

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Posted 12 December 2013 - 07:20 PM

2.      Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the  economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports... etc.

 

 

3.      Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.

 

I will take the 3.208 or the 1.134.  Give it to me and watch me smile  :eyebrows:  :twothumbs:  :backflip:

 

 

What the ... does it really... Oh My God... Is this the rumors section... no its the news section. I want to believe my eyes but i am skeptical as ever. I am gonna go back and read it off the link then hit the other sources to ty and comfirm it. Here we go  .................rv rv rv rv rv rv rv rv rv rv rv rv rv rv rv rv rv


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#9 Boozer

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Posted 12 December 2013 - 08:31 PM

1IQD = $1.13 USD......  Happy Happy Happy    :soon: I'll be  :D


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#10 new york kevin

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Posted 12 December 2013 - 09:43 PM

My search was not exhaustive by any means, yet the furthest back I could find so far was March 2013 on Tha All Dinar Trade Article/The Iraqi Dinar Trade    site. I could not discover a date off of the MOP website that had pretty much the identical article. I am still jazzed. Either way this is, and remains a great article. It give me encouragement. Happy, happy, happy.


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#11 DinarThug

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Posted 12 December 2013 - 10:13 PM

IMF: Iraq's budget for 2014 is exposed to shocks low
 



2438.jpg?width=650&watermark=4
MP Magda Tamimi


This Just In To The CNN News Desk .......

The New '101 Dalmations' Burqa Is Now Available At The Disney Store In The Baghdad Mall ! :o

:D :D :D
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#12 Texas1

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Posted 12 December 2013 - 10:18 PM

[/size]
 


Author: ah Editor: br reporter: ms
Number of readings: 115
 
12/12/2013 12:55


she's stoned

 

BAGHDAD / tomorrow Press: confirmed member of the parliamentary Finance Committee Magda al-Tamimi, on Thursday, the International Monetary Fund drew a report on the budget for Iraq in 2014 to the Ministry of Finance and a copy of it to the House and the Finance Committee he refers to the balance of 2014 to be discussed now before the Council of Ministers adopted on very optimistic assumptions about oil revenues.
Tamimi said in a statement seen by "tomorrow's Press," said that "what makes the budget vulnerable to shocks is the decline in oil prices and the delay in the increase of oil exports and moreover there is a significant increase in current expenditures."
It said al-Tamimi said that "the IMF report also pointed to a large deficit in the budget and the deterioration in the public financial management has included a budget laws recently allocation spending unrealistic increasingly," indicating that "the International Fund expressed concern over the possibility that make the current budget for the year 2014 Iraq's position is very weak. "
She pointed out that al-Tamimi, "the report warned that the huge withdrawals of the resources of the Development Fund for Iraq, particularly in the second half of the year 2013 which is due to a shortage caused by the unexpected revenue to oil exports coupled with the obligations of the tunnels are great for budget law in 2013."
The Finance Minister Ali Shukri announced in October 2013, ending the draft federal budget for Iraq for the next year 2014, which will amount to 174 billion U.S. dollars, while confirming they are still parliamentarians at the Council of Ministers.


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#13 outlawclg

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Posted 12 December 2013 - 11:11 PM

We might just have a real shot at this....soon.  Things just seem to be lining up better than in past years and there has been way too much work put in for a lop.  

Thanks yall.


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#14 Butifldrm

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Posted 18 December 2013 - 08:20 AM

Economic parliamentary: the budget in 2014 amounted to 194 trillion dinars and a deficit of 35 trillion inflation of 3%
 

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Khalil Mahma
 

 

Author: ah Editor: br reporter: ms

Number of readings: 108
 

12/18/2013 14:10

 

 

 

Tomorrow's Press / Baghdad: Economic Commission announced in the House of Representatives, Wednesday, that the next year's budget in 2014 amounted to 194 trillion dinars and a deficit of 35 trillion dinars and 3% inflation and 19% poverty rate, loaded with the government responsible for the late arrival of the budget to Parliament.

A member of the Kurdistan Alliance MP Khalil Mahma during a press conference held today in the parliament building and attended by "tomorrow's Press," "We hold the government responsible for the delay budget is not income for the Kurdistan region of this delay," calling that "there is a budget compromise-free defects will not be distracted even the House of Representatives and take much time to discuss it. "

He added that "next year's budget amounted to 194 trillion dinars and a deficit of 35 trillion dinars and 3% inflation and 19% poverty rate," noting that "the 2014 budget is no different from previous budgets."

Kurdish MP to "insert dues Peshmerga retroactively since 2007 till 2014, within the budget next year."

The Finance Minister Ali Shukri announced in October 2013, ending the draft federal budget for Iraq for the next year 2014, which will amount to 174 billion U.S. dollars.

 
 

http://translate.goo...%86%D9%8A%D9%86


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