Complementary Budget

[yota691]

Economists for "Economy News": the fiscal deficit in the budget of 2017 will increase $ 4 billion

Economy News Baghdad: Officials and experts, economists, Wednesday confirmed that the fiscal deficit in the budget year 2017 will increase $ 4 billion, indicating that the government is seeking to amend the price of a barrel of oil in the supplementary budget for the current year.  The Iraqi government has sent the supplementary budget for 2017 to the House of Representatives, which was able to read initially last week. The head of the Finance Committee in the House of Representatives, Mohammed Halbusi, during the parliament session vassal "Economy News", "The government has decided to pay 40% of the peasant dues of 1.6 trillion dinars and contractors amounting to 2.6 trillion dinars in the supplementary budget."  Meanwhile, the Parliamentary Finance Committee member Massoud Haider said in an exclusive interview for "Economy News", "the supplementary budget for the year 2017, will go in the next parliament sessions for discussion and approval, because it is a partial solution to the economic crisis." He added that "the supplementary budget will produce an increase in the general budget of about 7 trillion dinars, which will increase the rate of spending, as well as increased federal state revenues from 79 to 83 trillion dinars," noting that "the fiscal deficit of the budget of 2017 will rise from 21 to 25 billion dollars, "pointing out that" the Iraqi government demanding the lifting of the price of a barrel of oil in the supplementary budget to $ 44.4 after the price was $ 42. "  Rustam noted that "the supplementary budget includes allocation of 3 trillion dinars for the expenses of Alastmarah as well as the allocation of amounts paid to contractors and farmers as part of their dues." The supplementary budget includes opening the doors of appointment in the interior, defense and health ministries, in addition to the allocation of funds for the investment budget.  On the other hand, he confirmed a member of the parliamentary Economic Committee, Harith al-Harthy, for "Economy News", that "the supplementary budget represents organized a deliberate economic situation by specialists in the Ministry of Finance," stressing that "this budget will fill a lot of needs." He noted that "the Economic Committee will cooperate with the financial to put the budget in the parliament," pointing out that "the supplementary budget includes opening the doors of appointment in the interior, defense and health ministries." In turn, the economist said Amer jeweler, for "economy News", "all the previous budgets did not reflect positively on the economic reality of Iraq, but it will lead to increased exchange with dispersing the money." He added that "the supplementary budget does not represent a radical solution, but the solution lies in improving the management style of public money." Walid Marsoumy     Views 124   Date Added 07/12/2017

[mr.unlikely]

Ya think??

[yota691]

Central Bank: 78 trillion dinars non-oil deficit in the budget of 2017

Hits: 767

 

 

Central Bank: 78 trillion dinars non-oil deficit in the budget of 2017

 

15-07-2017 01:54 PM

 

Euphrates -

 

Central Bank Governor Ali Keywords on Saturday announced that the non - oil deficit in the current year budget was 78 trillion dinars , indicating that the balance of payments deficit of non - oil exports of $ 37.7 billion. 

Keywords and said in a meeting of the Institute for the progress of development policies that the non - oil deficit in the current year budget of 78 trillion dinars , because local revenues today constitute 22% , while the ideal situation to be local revenue covers the size of local expenditures, pointing out that this leads to the instability of the state budget because dependence on the size of the money that comes from abroad is higher than the money that comes from the inside. 

He added that Iraq 's revenues expected during the next five years , oil will be 53 trillion dinars to 64 trillion dinars, indicating that the deficit in the balance of payments currently amount to $ 37.7 billion. Adding that the shortfall in the balance of payments will put pressure on the central bank today because the country is unable to enter a foreign currency as well as money entering the oil, noting that Miran payments deficit means that the country is unable to attract investors and tourists.

[yota691]

Central Bank: the non-oil deficit in the budget of 2017 of 78 trillion dinars

Governor of the Central Bank during the meeting on the Keywords

Economy News Baghdad: The Governor of the Central Bank of Iraq, on the Keywords, Saturday, that the non-oil deficit in the current year budget of 78 trillion dinars, indicating that the balance of payments deficit of non-oil exports of $ 37.7 billion.  Keywords and said in a meeting of the Institute for the progress of policy development, and attended by "Economy News", "non-oil deficit in the current year budget of 78 trillion dinars, because local revenues today constitute 22%, while the ideal situation to be local revenue covers the size of local expenditures", referring to the "this leads to the instability of the state budget because the size of the dependence on the money that comes from abroad is higher than the money that comes from the inside." He added that "Iraq's revenues expected during the next five years, oil will be 53 trillion dinars to 64 trillion dinars," noting that "the deficit in the balance of payments currently amount to $ 37.7 billion." He added that "the shortfall in the balance of payments will put pressure on the central bank, because today the country is unable to foreign currency insert along with the money that the intervention of oil," noting that "Miran deficit payments means that the country is unable to attract investors, tourists and others." Views : 792   Date Added 07/15/2017

[Synopsis]

From the first article with my bolding and highlights added:

 

3 hours ago, yota691 said:

Adding that the shortfall in the balance of payments will put pressure on the central bank today because the country is unable to enter a foreign currency as well as money entering the oil, noting that Miran payments deficit means that the country is unable to attract investors and tourists.

 

A confusing statement at best. So, an attempt at what it is saying is, "The shorfall in the balance of payments is putting pressure on the Central Bank today because Iraq is unable to receive a foreign currency as payment for oil while also noting this payment deficit means the country is unable to attract investors and tourists."

 

Maybe an inaccurate/incorrect interpretation of the statement.

 

If the interpretation is reasonably correct:

• Iraq is no longer accepting USD as payment for crude oil from Iraq? So then, how is Iraq being paid? Yes, that would put pressure on Iraq and create a huge shortfall in the balance of payments. Why is Iraq not accepting USD or is USD being withheld as payment to Iraq? A big stick to get Iraq going on something?
• The payment deficit is a key factor for Iraq to attract investors and tourists? This would assume Iraq intends to have investors and tourists. Another big stick to get Iraq going on something?

Maybe I'm just nuts and off my rocker but this appears to be something really, really big is about to happen with regard to Iraq. To me it seems that this could be directly related to a revaluation of the IQD in the very, very short term. The longer this shortfall lasts, the pressure would seem to build exponentially in Iraq and with international entities doing business with Iraq.

 

Any thoughts or comments?

 

In the mean time............................................................

 

Go Moola Nova!

[CaptainBVI]

5 minutes ago, Synopsis said:

From the first article with my bolding and highlights added:

 

 

A confusing statement at best. So, an attempt at what it is saying is, "The shorfall in the balance of payments is putting pressure on the Central Bank today because Iraq is unable to receive a foreign currency as payment for oil while also noting this payment deficit means the country is unable to attract investors and tourists."

 

Maybe an inaccurate/incorrect interpretation of the statement.

 

If the interpretation is reasonably correct:

• Iraq is no longer accepting USD as payment for crude oil from Iraq? So then, how is Iraq being paid? Yes, that would put pressure on Iraq and create a huge shortfall in the balance of payments. Why is Iraq not accepting USD or is USD being withheld as payment to Iraq? A big stick to get Iraq going on something?
• The payment deficit is a key factor for Iraq to attract investors and tourists? This would assume Iraq intends to have investors and tourists. Another big stick to get Iraq going on something?

Maybe I'm just nuts and off my rocker but this appears to be something really, really big is about to happen with regard to Iraq. To me it seems that this could be directly related to a revaluation of the IQD in the very, very short term. The longer this shortfall lasts, the pressure would seem to build exponentially in Iraq and with international entities doing business with Iraq.

 

Any thoughts or comments?

 

In the mean time............................................................

 

Go Moola Nova!

It looks like the conventional methods that were being pushed were not getting the desired results in a timely manner.

We could speculate who forever but it really does not matter. We do know that there are some big players in this.

This, behind the scenes, "OK, we're going to going to close our wallet to get your attention, are you listening now?" might get them focused.

[chinadawg]

Syn,

Sounds right to me,,,Someone with a BIG STICK knows these procrastinators need  a BIG STICK up there azz to jump start them.

[Synopsis]

8 minutes ago, CaptainBVI said:

It looks like the conventional methods that were being pushed were not getting the desired results in a timely manner.

We could speculate who forever but it really does not matter. We do know that there are some big players in this.

This, behind the scenes, "OK, we're going to going to close our wallet to get your attention, are you listening now?" might get them focused.

 

6 minutes ago, chinadawg said:

Syn,

Sounds right to me,,,Someone with a BIG STICK knows these procrastinators need  a BIG STICK up there azz to jump start them.

 

Thank You, Gentlemen, for responding! Hope we find out real quick what this is all about!

 

The Best Of Your Weekend To You!

[CaptainBVI]

Just now, Synopsis said:

 

 

Thank You, Gentlemen, for responding! Hope we find out real quick what this is all about!

 

The Best Of Your Weekend To You!

If you want to get someone's attention, hit their wallet. Works every time.

We'll need to watch this one.

A great weekend to you gentleman as well.

[ChuckFinley]

Just jumping in fron another post. It talks about enough reserves to cover the dinar. Add that to your post Synopsis and feed back from CaptBVI and Chinadawg there is something happening. Trump is about action and someone is pushing this. It maybe him and it may not, we are just looking for an end here. The push is on.  

[Half Crazy Runner]

50 minutes ago, Synopsis said:

From the first article with my bolding and highlights added:

 

 

A confusing statement at best. So, an attempt at what it is saying is, "The shorfall in the balance of payments is putting pressure on the Central Bank today because Iraq is unable to receive a foreign currency as payment for oil while also noting this payment deficit means the country is unable to attract investors and tourists."

 

Maybe an inaccurate/incorrect interpretation of the statement.

 

If the interpretation is reasonably correct:

• Iraq is no longer accepting USD as payment for crude oil from Iraq? So then, how is Iraq being paid? Yes, that would put pressure on Iraq and create a huge shortfall in the balance of payments. Why is Iraq not accepting USD or is USD being withheld as payment to Iraq? A big stick to get Iraq going on something?
• The payment deficit is a key factor for Iraq to attract investors and tourists? This would assume Iraq intends to have investors and tourists. Another big stick to get Iraq going on something?

Maybe I'm just nuts and off my rocker but this appears to be something really, really big is about to happen with regard to Iraq. To me it seems that this could be directly related to a revaluation of the IQD in the very, very short term. The longer this shortfall lasts, the pressure would seem to build exponentially in Iraq and with international entities doing business with Iraq.

 

Any thoughts or comments?

 

In the mean time............................................................

 

Go Moola Nova!

 

Your interpretation and assessment seems logical and possible to me. Great article! Thanks for your thoughts on this!

 

And .....

 

Go Moola Nova indeed!  

[Synopsis]

Just now, ChuckFinley said:

Just jumping in fron another post. It talks about enough reserves to cover the dinar. Add that to your post Synopsis and feed back from CaptBVI and Chinadawg there is something happening. Trump is about action and someone is pushing this. It maybe him and it may not, we are just looking for an end here. The push is on.  

 

I noticed that (bolding added), too, ChuckFinley!

 

If the news is accurate and all connected, the question I have is, "Wouldn't the reserves become depleted at a rapid rate and no longer be able to support the Iraqi Dinar exchange rate?" Iraq still has to pay it's bills in USD - unless that has (or is about to) change!

 

Another key piece I am looking for is the DFI funds that Iraq apparently has total control of and may be used to influence/leverage these issues (among other issues). I am also looking for a rating move from a major credit agency. I suspect that would also be indicative of imminent foreign investment.

 

At some point in time, there will likely be so much going on that it will have to become visible in various Iraqi affairs and entities doing business with Iraq with a subsequent impact on the IQD exchange rate.

 

Just my opinion and 

 

3 minutes ago, Half Crazy Runner said:

 

Your interpretation and assessment seems logical and possible to me. Great article! Thanks for your thoughts on this!

 

And .....

 

Go Moola Nova indeed!  

 

Thank You, Half Crazy Runner, and The Best Of Your Weekend To You!

 

Yep, Yep.........................................

 

Go Moola Nova!

[DinarThug]

CNN. Broadcasting From A 2 For 1 Happy Hour To Stretch The Budget !

 

 

 

(by don961)

Parliamentary Finance: The 2017 budget situation is good so far

16/7/2017 1:34 AM  Baghdad / Omar Abdul Latif   The parliamentary Finance Committee described the 2017 financial situation as relatively good so far, while the economic adviser to the Prime Minister that "optimism is still cautious" of them.  A member of the parliamentary finance committee, Massoud Haider, said in an interview for "morning": that the state spends on the basis of actual revenues that enter the treasury, "noting that" the financial situation of the country is relatively good so far. "For his part, the appearance of Mohammed Saleh, To the Prime Minister, about the cautious optimism of the financial situation of the budget for the current yearSaleh explained, in an interview with "morning", that "our optimism about the budget must be accompanied by caution, attributing the reason that" the budget relies on 93 percent of its imports on revenues Oil and oil markets are not guaranteed. " Saleh added that "the price of selling barrels of oil was set in the budget of $ 42, and rose in global markets after a period of up to $ 47, and now we see a decline in prices, and do not know how the price will be in the coming months."  "The priority in all budgets is to ensure the salaries of employees, retirees and social protection by 100 percent, in addition to sustaining the requirements of the war on terrorism," he said, adding that " Other necessities include water, sewerage, infrastructure and basic energy. "  "Part of the success achieved by the government of Prime Minister Haider al-Abadi is the financial success through crossing Iraq's wheel for the past and present years, without any disruption in salaries or basic expenses and funding the war," he said.  Saleh stressed that "the economic situation in Iraq" came out of the bottleneck "completely, adding that" optimism should not cause us complacency, but always be wary of two external variables, terrorism and oil prices. "   http://www.alsabaah.iq/Article.....?ID=140681

[blueskyline]

Thanks Thug !

[sandfly]

Thanks clown 

[sandfly]

Thanks 

[DinarThug]

1 hour ago, DinarThug said:

 

Parliamentary Finance: The 2017 budget situation is good so far

 

 

 

12 minutes ago, sandfly said:

Thanks clown 

 

SandFly's Annual 'Thanking' Budget Percentage Increases Are Larger Than All Of The G20 Countries Budget Percentage Increases Combined !  

 

     

 

[ChuckFinley]

Thanks Thug for the updates. So far so good.  

[yota691]

 

Parliamentary Finance 7 trillion dinars increase in the budget of the supplementary 2017 3 hours ago Last updated 11:27 AM 707 Watch     BAGHDAD / Tomorrow Press:  A member of the Parliamentary Finance Committee, Masood Haider, on Sunday, for an increase in the federal budget 7 trillion dinars, indicating that the increase will be distributed part of the salaries and benefits to farmers and contractors, as well as the reconstruction of the liberated areas of Daesh.   Haidar's "Tomorrow 's Press," that "the House of Representatives will discuss the supplementary budget because the federal government changed the budget estimated oil price of $ 42 to $ 44.40 and the quantities of exported oil is 3.75 million barrels , including the region 's oil."  He added that "there is an increase in the budget 100 trillion dinars to 107 trillion in addition to an increase in revenue of 79 trillion to 83 trillion, that there is an increase in the budget by 7% , " explaining that "spending also increased more than the revenue in which It led to an increase in the deficit. "  He said a member of the Finance Committee, noted that "the budget deficit were 21 trillion is now 25 trillion," he said . "7 trillion of the increase in the budget allocated than three trillion to investment expenditure to go to the liberated areas and placed special budget item, must be allocated a lot of the money to the liberated areas, especially the districts and sub - districts in the provinces that were under the control of Daesh. "  He stressed that " the other part of the money added to the budget has been allocated as receivables for farmers and peasants of the years from 2014 to 2017, the last of which was allocated to the entitlements of contractors in the federal government and pay the salaries of part of the Iraqi government employees and retirees."  The MP said, "This supplemental budget, we will integrate this supplementary budget with the materials that have been challenged by the government and there are discussions with the Ministry of Finance and the government to reach a uniform agreement."  The federal budget for Iraq, for the year 2017, 100 trillion ($ 84.7 billion), and a projected deficit 21 trillion ($ 17.7 billion).

[yota691]

Parliamentary Finance: the coming days will bring good news for employees

July 16, 2017

 

Treasures Media / Baghdad .. 

Parliamentary Finance Committee revealed Sunday, about a shortage of some of the financial budget for the current year terms caused the lack of salaries of state employees, noting that the supplementary budget will be approved in the coming days will solve the crisis.

 Said committee member Magda Tamimi said in a statement, said that "the general budget saw a financial imbalance in securing the salaries of employees in seven units will be remedied in the coming days."

 Tamimi added that "the supplementary budget to be discussed in the House of Representatives in the coming days will provide the amounts as planned in the budget," indicating that "the country Aishd financial crisis but administrative corruption and the dominance of some influential parties on customs and caused a shortage in tax money."

The member of the Finance Committee in the House of Representatives Magda Tamimi revealed on Saturday, was seeking to cancel the deduction of employees' salaries after the liberation of Mosul operations.

[King Bean]

If Iraq financial situation were, let's say, compared to one of the Kardashians....it would be described as a "hot mess".  "2017 Budget Situation Is Good So Far" and the follow-up "deficit will increase by $4 Billion" don't exactly bring on those warm and fuzzy feelings. Add in their total debt from loans to $100 Billion plus, scampering to gather in all the stolen billion$ from Maliki, cost to rebuild all the ISIS destruction and last weeks feel-good article about $18 billion in missing oil revenue just this year alone. Under all this financial load, something has gotta give soon. And I don't mean an "Iraqi" soon. Get your $hiz together Iraq.

[murd11]

Oil from all countries is sold in U.S. dollars. To say they are stopping the use of dollars and using Iraqi dinars is just utter bologne. Quit trying to put a story out when you know there just is no story. Of course the budget is in deficit. Try rebuilding a country infrastructure within a peacetime budget. It"s like our countries balancing our budget with all the wildfires going on. Impossible

[Officiallytook]

On 7/15/2017 at 9:24 AM, Synopsis said:

). I am also looking for a rating move from a major credit agency

That part ... Aug

[yota691]

Parliamentary Finance 7 trillion dinars increase in the budget of the supplementary 2017

Economy News _ Baghdad A member of the Parliamentary Finance Committee, Masood Haider, on Sunday, for an increase in the federal budget 7 trillion dinars, indicating that the increase will be part of the distribution of salaries and benefits for farmers and contractors, as well as the reconstruction of the liberated areas of Daesh.  Haider said in a press interview followed the "Economy News", that "the House of Representatives will discuss the supplementary budget because the federal government changed the budget price of oil is estimated from $ 42 to $ 44.40 and the quantities of exported oil is 3.75 million barrels , including the region 's oil."  He added that "there is an increase in the budget 100 trillion dinars to 107 trillion in addition to an increase in revenue of 79 trillion to 83 trillion, that there is an increase in the budget by 7% , " explaining that "spending also increased more than the revenue in which It led to an increase in the deficit. "  He noted that "the budget deficit were 21 trillion is now 25 trillion," he said . "7 trillion of the increase in the budget allocated than three trillion to investment expenditure to go to the liberated areas and placed special budget item, you must a lot of money allocated to areas liberated, especially the districts and sub - districts in the provinces that were under the control of Daesh. "  He stressed that " the other part of the money added to the budget has been allocated as receivables for farmers and peasants of the years from 2014 to 2017, the last of which was allocated to the entitlements of contractors in the federal government and pay the salaries of part of the Iraqi government employees and retirees."  He explained that "this budget complementary, and we will integrate this supplementary budget with the materials that have been challenged by the government and there are discussions with the Ministry of Finance and the government to reach a uniform agreement."  The federal budget for Iraq, for the year 2017, 100 trillion ($ 84.7 billion), and a projected deficit 21 trillion ($ 17.7 billion).

Views 75   Date Added 16/07/2017

[gregp]

This has some serious meat to it.