IMF: 2018 Iraqi draft budget won't 'cover the needs' of Kurdistan

[DinarThug]

LINK

Economist: Exploitation of high oil prices will contribute to the budget

 

22nd November, 2017

Economic expert Salam Smisem said on Wednesday that the next mark will witness an increase in demand for Iraqi oil, indicating that the rise in oil prices will help to replenish the budget with new sources.

Sumaisem said, for ( Iraqi News Agency media wa p)  that "Iraq is on the verge of an increase in the demand of its oil, with the prospects and expectations of higher crude oil price."

He added that "the government can not control the prices of oil, even the mindset of Iraqi oil can not manipulate the prices of crude," noting that "the arrival of the price of oil to $ 63 per barrel will contribute to the Iraqi budget to provide a new financial source."

Oil jumped more than 1 percent on Wednesday, boosted by a drop in Canadian crude supplies through a US pipeline and a drop in US crude inventories, as well as expectations for an extension of OPEC-led oil production cuts, giving Iraq an opportunity to boost its fiscal revenue and reduce the budget deficit for the year. Next, where Iraq decided to adopt the price of $ 43 per barrel in the draft budget, which makes use of the difference in sales price in the enhancement of revenues on supplementary budgets on the one hand, and reduce the deficit gap on the other. 

[10 YEARS LATER]

5 hours ago, newbieDA said:

 

 

You got that right   

[yota691]

There are weights by passing the budget of 2018 with a share (12%) only for the Kurdistan region

By

 rami

 -

November 25, 2017

10

0

 

 

 

The Iraqi Council of Representatives intends to pass the budget of 2018 by voting by majority and determining the share of the Kurdistan region by 12%.
“The Iraqi parliament is determined to pass the 2018 budget through a majority vote,” said the deputy of the State of Law Coalition (the largest bloc in parliament).
He added that “most members of parliament insist not to exceed the proportion of Kurdistan region (12)%,” returned that ratio “normal” and corresponds to the census of the population.
He pointed out that “the maturity of the region is not 17%,” pointing out that “the Baghdad government was granting the region 17% because of certain circumstances was passing by the region”
He pointed out that “the parliament will pass in the passage of this budget by the real region,” noting that “the budget law is still the government and the parliament is waiting to arrive to pass it.”

[ChuckFinley]

Morning Yota, that is what you get when you step out and do not win.

[yota691]

13 minutes ago, ChuckFinley said:

Morning Yota, that is what you get when you step out and do not win.

Moring Chuck and all of DV..seems they didn't adhere to certain issues.

[yota691]

Iraq and the IMF are making progress on credit standing

25/11/2017 12:00 am  Baghdad / Al-Sabah  The Iraqi delegation and the International Monetary Fund (IMF) experts in the Jordanian capital Amman recently discussed the third revision of the 36-month credit agreement with Iraq. "The Iraqi delegation and the IMF team of experts have held extensive discussions on the third review of the credit standoff agreement and these discussions have made good progress towards reaching an agreement on the 2018 budget bill in line with the Credit Readiness Agreement."  During the discussion, The team met with Dr. Ali Mohsen Ismail Al-Alaq Acting Governor of the Central Bank of Iraq, Dr. Maher Johan, Undersecretary of the Minister of Finance, Dr. Qassim Attiyah, Undersecretary of Planning, Dr. Mazhar Saleh, Financial Advisor to the Prime Minister, Financial, and officials from the Ministry of Finance and the Central Bank of Iraq and the Ministry of Oil.  Coconut noted that " the mission team extend its thanks to the Iraqi authorities for their cooperation and the open and fruitful discussions held with." The Executive Board of the International Monetary Fund (IMF) had agreed to hold the credit standoff agreement on 7 July 2016 (see press release 16/321) and the second review was completed on 1 August 2017 (see press release 17/311).  International institutions have made progress in managing Iraq's financial portfolio and have announced this on more than one domestic and international occasion.

[yota691]

Deputy: Kurdistan's budget of 17% was given a heresy by Iyad Allawi

 

 Since 2017-11-26 at 09:03 (Baghdad time)

Baghdad Mawazine News

MP for the coalition of state law Mansour al-Baiji, on Sunday, the determination of the House of Representatives to reduce the budget of the Kurdistan region for next year, pointing out that the province of 17% was given heresy by Vice President Iyad Allawi.

"The House of Representatives intends to reduce the budget of Kurdistan for next year, according to the density of the population of each of the provinces of northern Iraq," he said, "The previous budgets that were given to the region is not worthy of being more than the budget Which should be given to them like the rest of the provinces of Iraq and the population density of each province.

He added that "the proportion of 17% was given to them by heresy by Iyad Allawi, the former prime minister after he divided the three provinces on 18 provinces and extracted the proportion of the region."

"If they are at the expense of population density, our other provinces are more densely populated," he said.

Al-Baiji said, "We will save the budget of the northern region according to their population ratios," stressing that "the government to cancel staff cuts in the budget next year after the elimination of terrorist gangs Da'ash."

The MP pointed out that the state of law, "Parliament will not pass any budget in which a large deduction of salaries of employees and retirees," stressing "work to increase the salaries of the popular crowd, similar to their counterparts in the Ministry of Defense and Interior."

He explained that "we are waiting for the budget to reach the House of Representatives after it was withdrawn by the government and will be one of our priorities in the budget to reduce the proportion of northern provinces, and not to allow a larger deduction of salaries of employees and we will increase the salaries of the crowd," followed "and will not pass the budget next year as passed budgets Previous years ".

And reduced the proportion of Kurdistan region in the budget of 2018 from 17 to 12.67%

[DWS112]

Darraji reveals the real reasons for the delayed arrival of the budget to the House of Representatives

 

 

11/28/2017

Revealed a member of the Finance Committee parliamentary Rahim Darraji, on Tuesday, the real reasons behind the delay of the arrival of the General Budget Law to the House of Representatives, pointing to the existence of hidden conditions for the World Bank on the budget, the government is afraid to inform the people.
 
Al-Daraji said in a press statement that "the delay of the arrival of the law of the general budget for 2018 to the House of Representatives back to the conditions set by the International Bank," noting that "the government is afraid to confront the people and to inform him about the reality of those conditions."
 
Darraji added that "the House of Representatives does not know about the hidden conditions between the government and the World Bank."

[DWS112]

Maybe they need to stop the auctions?

[DWS112]

Conscious / financial parliamentary: reveal the real reasons for the delay of the budget

11/28/2017

 

Revealed a member of the Finance Committee parliamentary Rahim Darraji, on Tuesday, the real reasons behind the delay of the arrival of the General Budget Law to the House of Representatives, pointing to the existence of hidden conditions for the World Bank on the budget, the government is afraid to inform the people.

He said Darraji in transportation correspondent statement ( Iraqi News Agency Information / INA ) that " the delay in the arrival of the general budget of the 2018 Act to the House of Representatives is due to the conditions set by the World Bank , " noting that " the government is afraid of the face of the people and briefed about the fact that those conditions."

Darraji added that "the House of Representatives does not know about the hidden conditions between the government and the World Bank."

[NEPatriotsFan1]

Maybe it’s because it has the new rate in it?!

 

Just a guess..... but probably nothing  

[SnowGlobe7]

22 minutes ago, DWS112 said:

pointing to the existence of hidden conditions for the World Bank on the budget, the government is afraid to inform the people

 

Elaborate my dear friend...elaborate!!!!

[SnowGlobe7]

I am thinking it is naming the evil persons involved with coruption

[Butifldrm]

Parliamentary Finance: Tomorrow the budget will reach the parliament and these details

 

 November 28, 2017 - 12:17 | Number of readings: 7   

 

 

BAGHDAD - The Finance Committee of the parliamentary, on Tuesday, the arrival of the draft budget law to the House of Representatives on Wednesday.

A member of the Committee Rahim Darraji said in a press statement that "it is possible to reach the draft law of the general budget for the year 2018 to the House of Representatives evening or tomorrow Wednesday," pointing out that "the Presidency of Parliament will extend the work of the legislative term until the completion of the vote on the general budget."

He added that "the draft articles of the budget law is not known will be discussed by the parliamentary finance committee after the arrival of the parliament building and then the first reading of the next session."

The MP of the National Alliance Ali al-Badiri announced on Tuesday, close to the end of the legislative term of the House of Representatives, while noting that the latter will

enjoy his legislative holiday if the draft budget law is not reached in the next two days.

 

http://sumer.news/ar/news/24091/المالية-النيابية-غدا-الموازنة-ستصل-الى-البرلمان-وهذه-تفاصيلها

[Donziman]

Looks like they can certainly delay the budget for two days. Then it's off

to another vacation. yippee 

[King Bean]

2 hours ago, DWS112 said:

Revealed...the existence of hidden conditions for the World Bank on the budget, the government is afraid to inform the people. Darraji added that "the House of Representatives does not know about the hidden conditions between the government and the World Bank."

 

These people are idiots. It's probably aliens, the Lock Ness

monster, or they just don't know the special handshake and

                                super secret password. 

 

                      ...or maybe, just maybe, it's NOTHING !! 

 

 

 

 

 

[10 YEARS LATER]

1 hour ago, King Bean said:

 

These people are idiots. It's probably aliens, the Lock Ness

monster, or they just don't know the special handshake and

                                super secret password. 

 

                      ...or maybe, just maybe, it's NOTHING !! 

 

 

 

 

 

My guess is Alien 👽 Abduction & too much rectal probing-I know THAT would throw my game off a bit. 

[yota691]

Balanced budget

29/11/2017 12:00 am  Dr.. In the name of Brahimi   , classical economists emphasize in their theories of public finance on the balance of the budget and prepare it as a prerequisite for its success. Therefore, the preparation of a balanced general budget has long been a rule adopted by the countries, especially since the period of classical economic theories from the late 18th century until the beginning of the twentieth century was and what Is still one of the best stages in economic history in terms of stability and balance.  With the beginning of the thirties of the last century and the rise of the theories of the Kenzi theory, the economic balance became more important than the balance of accounting and thus it was possible to build public budgets deficit or surplus and according to the overall economic objective, which some described by saying: The economic Keynes transferred the science of public finance from the accounting framework to the  economic framework  . But governments moved the public budget from the political economy in particular, and this is due to the great distinction between the economy and politics in the budget position of what it represents a program of work for the government over the next year as defined by some and thus the goal of Keynesi was stripped of its goals by governments in   general.  The experience of preparing public budgets in Iraq does not depart far from the analytical visions that I mentioned. The memory is still full of great evidence over the past few years at the very least. The balance sheets have moved away from the accounting and economic balance. However, budgets have taken a long time in political consensus. Caesarean delivery is   mostly. This reference is marketed and we are living these days laboring to approve the general budget for 2018 and I think it will move a lot between the government and parliament, and if the balance of accounting has become the past as well as inability to achieve because it was built with a deficit exceeded (22) trillion Iraqi dinars due to difficult economic and security conditions On the other hand, we set a goal to remove the economic imbalance.  Yes, there is an improvement in maximizing non-oil revenues in the budget, but the challenges at the internal level are still large as it is in the mobilization to reject the privatization of the collection of electricity and the external challenges by the international financial institutions also difficult in light of the importance of maintaining confidence in the Iraqi economy, This budget could be a  new breakthrough  .

[Laid Back]

"This budget could be a new breakthrough"

 

 

Go Budget 2018

Go CBI

Go RV

Go $1:1

 

 

[nannab]

11 minutes ago, Laid Back said:

"This budget could be a new breakthrough"

 

 

Go Budget 2018

Go CBI

Go RV

Go $1:1

 

 

 

  

[jcfrag]

A huge breakthrough if that is true! I've never heard of Iraq's budget being balanced before! Wonder if all that money they have been recovering is helping to git er balanced!!! 

[yota691]

The government is cutting the salary cut to 3.8% and raising the price of oil to $ 46 in next year's budget

 

Magda El Tamimi

Economy News Baghdad: The parliamentary Finance Committee announced on Wednesday that the percentage of employees' salaries is equal to the deduction rate of 2017, amounting to 3.8%, indicating that the draft budget law to reduce the share of the region to 12.67%, noting that the government set the price of a barrel of oil at $ 46. A member of the Finance Committee, Majida Tamimi said in a press statement received by "Economy News", it "made a call Wednesday morning to the Minister of Finance and the agency to confirm the need to send the budget today as delayed delivery for a month and a half on the date set in accordance with the Financial Management and Public Debt" . Tamimi added that "actually received the budget of 2018 by the Office of the President of the House of Representatives after the end of official working hours," stressing that "was set on Saturday, 2017/12/2 to read the draft budget reading first in an extraordinary session because of the end of the legislative term and the extension period specified month" . Tamimi pointed out that "the proportion of employees' salaries was equivalent to the deduction rate in 2017 by 3.8% with a reduction of the share of the region to 12.67% and set the price of $ 46 per barrel of oil." The first draft of the budget of 2018, which was withdrawn by the government from parliament included the deduction of 4.8% of salaries of employees and retirees and set the price of a barrel of oil at 43.4 dollars.     Views 7984   Date Added 11/29/2017

[yota691]

The budget of 2018 reaches the parliament .. Know the paragraphs!

 Since 2017-11-29 at 17:57 (Baghdad time)

Special - Mawazine News

Revealed a member of the Finance Committee of Parliament Majida Tamimi, on Wednesday, the arrival of the draft budget bill 2018 to the House of Representatives, while confirmed that the budget of the Kurdistan region amounted to 12.68%.

Al-Tamimi told Mawazine News that the Presidency of the House of Representatives received this evening, a copy of the draft budget law of the country, "indicating that" the budget of 2018 saw a significant reduction in the fiscal deficit compared to last year. "

The member of the parliamentary committee, "the budget for the next year set the price of oil at $ 46 per barrel after the recent increase," noting that "the budget has also seen the allocation of 12.68% to the Kurdistan Regional Government."

Tamimi pointed out that "the news that the media dealt with the deduction of more salaries of employees is not healthy," stressing at the same time that "the budget identified the deduction of $ 3.8 as last year of salaries of employees."

It is noteworthy that the Speaker of the House of Representatives Salim al-Jubouri said, earlier on Wednesday, that in the event of the arrival of the financial budget of the country next week, we will call the members of parliament to hold another extraordinary meeting of the readings and vote on them.

Oil prices fell today, amid doubts that markets could be affected by the extension of the OPEC-Russia production reduction agreement. Ending 29/9

 

[gregp]

GM, Yota.

 

I say, they will complete the budget, on Dec 21st. 

[SnowGlobe7]

On 11/28/2017 at 4:56 PM, jcfrag said:

A huge breakthrough if that is true! I've never heard of Iraq's budget being balanced before! Wonder if all that money they have been recovering is helping to git er balanced!!! 

 

I thought that they were balanced last yer...something about if the oil prices are at or above $ ? that they would be balanced...not sure if that happened but I am pretty sure that the oil prices were above their budget quoted price all year.