Off-balance sheet

[10 YEARS LATER]

On April 15, 2018 at 1:35 AM, ChuckFinley said:

Hope the IMF can get these guys over the Hand Out Stage of life here. Need to start standing on their own. 

 

Cry Poverty & Beg for - Get  - Embezzle - and put into " private " Bank Account " and  - " disappears !  - - Cry Poverty & Beg for - Get  - Embezzle -and putinto " private " Bank Account " and  - " disappears !  Cry Poverty & Beg for - Get  - Embezzle - and put into " private " Bank Account " and  - " disappears !  Cry Poverty & Beg for - Get  - Embezzle - and put into " private " Bank Account " and  - " disappears !  

 

HEY ! I think there might be something wrong hear ?????    You're RIGHT, They're Pigs and " ENUFF is ENUFF "

[10 YEARS LATER]

2 hours ago, Pitcher said:

Do you get the feeling we are paying for our own RV with higher oil, gas prices.  

 

Does kinda feel like that - good observation. Sooner or later after we've been Hosed or Bent Over a time or 2 ; we can see it coming, can't we ! ? ! 

[NoviceInvestor]

3 hours ago, Pitcher said:

Do you get the feeling we are paying for our own RV with higher oil, gas prices.  

Petrol and Diesel where  I live in Oz range in price per Litre from  $1.49 to $1.72AUD... We wonder how high its going to go..

[Butifldrm]

• economic

Economic rise of oil prices will save Iraq 20 trillion dinars

14:18 - 09/05/2018

0

 

  

Information / Baghdad ..

The Economic Committee of the parliamentary, on Wednesday, that the high price of oil will provide Iraq about 20 trillion dinars if it continues to rise until this year, indicating that the surplus that will be achieved from the rise of oil will eliminate the budget deficit.

"The budget of 2018 approved the price of a barrel of oil 46 dollars amid a large budget deficit," said the committee member, "noting that" the recent rise and reach the threshold of 70 dollars for Iraqi oil will provide Iraq more than 20 trillion dinars if it continues Rise or stabilize this situation by the end of this year. "

Najib added that "the surplus that will be achieved from the rise of oil will eliminate the budget deficit with the achievement of financial abundance," asserting "the possibility of using this investment projects."

She added that "the financial abundance will strengthen the position of Iraq at the International Monetary Fund and fears that he has the inability of Iraq to pay the recent loans."

http://www.almaalomah.com/2018/05/09/307982/

[ChuckFinley]

On 4/27/2018 at 10:21 PM, Pitcher said:

Do you get the feeling we are paying for our own RV with higher oil, gas prices.  

For sure- better be - 1 Dinar to 3 USD.  

[yota691]

Off-balance sheet

11/6/2018 12:00 am  Mohamed Sharif Abu Maysam   Hedge exaggerated in estimating the price of selling oil barrels at $ 46 in the budget of 2018, which we pointed out in the preparation of the budget in previous articles, raised above the ceiling of exaggeration as a financial problem with the contraction of the budget in its investment and the method of funding deficit through borrowing after The price of OPEC's oil has jumped by 70 dollars per barrel and sales prices have not fallen below 55 since the beginning of this year.   Which makes the rate difference until this moment between the price of the guess and the price of selling prices about $ 17, and therefore the price difference for the past six months in the light of the budget approved the amount of daily sales estimated at three million and 888 thousand barrels per day, up to about 66.096 million dollars can be calculated Over a period of six months by multiplying the number in 180 days to be the amount of difference about 11.9 billion dollars and offset the amount at the exchange rate of the budget capacity at 1182 dinars to the dollar is the final outcome of 14 trillion Iraqi dinars, the difference in selling prices for the price of the guess for only six months, Covers and increases the comp The planned deficit of 12.5 trillion dinars, which means that we urgently need a supplementary budget through which we can free from the conditional indebtedness complex and free with us the investment budget from the restriction of Alakmashi.  Thus, we have no choice but to adapt the text mentioned in the budget law Article 2 - 1 - which states that (this deficit is covered by the abundance achieved and then internal and external borrowing ..) as the abundance of the need to borrow and is achieved, which means the absence of the need to borrow . The abundance here does not mean the amounts collected from the highest revenues of fiscal year 2017, as it can refer to the abundance of the increase in oil prices or increased sales quantities, and as long as the explanation here in favor of the country to save from the conditions of creditors and cumulative interest rates on the origin of debt, The procedures for recourse to foreign debt are considered to be detrimental.

[Butifldrm]

Najib: the achievement of a surplus of oil exports up to 20 billion dollars

19:41 - 18/08/2018

0

 

  

Information / Special ...

The parliamentary economic committee in the session ended on Saturday, a surplus of the increase in oil exports during the first eight months of this year up to 20 billion dollars.

Committee member Najeeb Najib told Al-Maaloumah that "oil was approved in the budget at $ 46 per barrel and its prices rose after that, which resulted in a large surplus in the export of oil."

She added that "the price difference achieved a surplus of $ 16 per barrel up to 20 billion dollars," noting that "according to the Constitution and the law recognizes the surplus funds a supplementary budget and the government can not dispose of them before they are approved by parliament."

She pointed out that "the age of the parliament is over and the new will be busy forming the next government, which means that the Council will put them in the budget of 2019."

"The surplus funds are supposed to be disbursed to emergency and priority matters," he said. "In Iraq, he often behaved according to the mood of the prime minister."

http://www.almaalomah.com/2018/08/18/336308/

[ChuckFinley]

On 4/28/2018 at 12:43 AM, 10 YEARS LATER said:

 

Cry Poverty & Beg for - Get  - Embezzle - and put into " private " Bank Account " and  - " disappears !  - - Cry Poverty & Beg for - Get  - Embezzle -and putinto " private " Bank Account " and  - " disappears !  Cry Poverty & Beg for - Get  - Embezzle - and put into " private " Bank Account " and  - " disappears !  Cry Poverty & Beg for - Get  - Embezzle - and put into " private " Bank Account " and  - " disappears !  

 

HEY ! I think there might be something wrong hear ?????    You're RIGHT, They're Pigs and " ENUFF is ENUFF "

Is there a pattern forming?  

[10 YEARS LATER]

6 hours ago, ChuckFinley said:

Is there a pattern forming?  

Completely forgot about this post  

[Butifldrm]

 

Economist: The government needs a supplementary budget to manage surplus oil revenues

10:45 - 21/09/2018

 

 

Information / Private ..

The economic expert, on behalf of Jamil Antoine, on Friday, the need for the government to a supplementary budget voted on in Parliament to act surplus oil revenues, indicating that the government does not disclose the size of the amount in possession of surplus oil as it suffers a budget deficit of more than 13 trillion dinars.

"The amount of surplus oil revenues is not disclosed by the government because its budget suffers a deficit of more than 13 trillion dinars," Antoine said in a statement.

He pointed out that "the government can not act with surplus oil revenues because the budget voted by the parliament and the disposal of the surplus is through a supplementary budget approved by the House of Representatives."

He explained that "the government's debt to the Central Bank of up to 20 trillion dinars, and there is a separation between what the central bank and the state budget."

He stressed that "the budget provided for the year 2019 calculated the price of a barrel of oil at $ 55-60 dollars, is the budget of speculation may raise the price of a barrel or decline, which made the government to put this budget."

Antoine denied that "the existence of an explosive budget, the treasury of the government required more than $ 100 billion internally and externally, and thus will use their money to repay their debts in addition to supporting the private sectors, industrial and agricultural." End 25 n

http://www.almaalomah.com/2018/09/21/346756/

 

[Butifldrm]

Ministry of Finance reveals the details of the deficit in the general budget  

BAGHDAD - The Ministry of Finance confirmed that the budget deficit of 2018 amounted to 19 trillion dinars, noting that the dues of oil companies pay in kind of oil directly, and the increase in oil prices contributed to non-borrowing.

 

"The deficit is more than 19 trillion dinars, not 12 trillion," said Undersecretary Maher Hammad Johan in a statement. "The increase in expenditure and the reduction of tax revenues by about 300 billion dinars, as well as spending two trillion dinars to secure the suspension of the deduction rate of 3.8% Of the salaries of state employees, which was in place during the past years, "pointing out that" the security expenditure of 1.4 trillion dinars has not been reduced, as well as increased quotas of provinces from the border crossings to more than trillion dinars. "

 

He added that there are "amounts did not appear in the budget, which are more than 500 billion dinars and these guarantees must be paid to the owners," noting that "there are emergency allocations amounted to 3 trillion dinars had to be launched on the first of October, but launched before its history to secure Requirements of services in the provinces ".

 

Noting that "the Ministry of Finance is paying the dues and benefits borrowed by the government during the financial crisis to provide salaries of state employees and amounted to the amount paid during this year 12 trillion dinars as a result of increased debt payments and dues."

 

"The volume of oil exports is 100 million barrels per month and a daily production rate of 3.2 million barrels per day at a price of $ 64 a barrel, these prices are $ 7 less than the prices of Brent crude standard and determined by monthly contracts affected by world prices, and we did not receive anything Of the oil of the Kurdistan region. "

 

Pointing out that "the increase in oil prices helped the government not to go to borrow," pointing out that "the dues of oil companies are paid in kind of oil and not through the proportion of deficit planned in the budget."

 

The Undersecretary of the Ministry of Finance said that "his ministry is securing an amount of not less than 6 trillion dinars in anticipation of the worst circumstances and this amount would secure the salaries of state employees and other important expenses for three months in case of emergency," calling on the parliamentary committees competent or control or audit to " The figures are announced by the ministry with high transparency, and the state is now moving towards restoring support to the private sector and moving the economic cycle in order to change the course of imports that drain a lot of money. "(1)

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https://www.iraqpressagency.com/?p=286851

[Butifldrm]

Nassif calls for a special parliamentary session to discuss the government's "violations" of the budget of 2018

 

12:39 - 29/09/2018

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Information / Baghdad ..

MP on the coalition of state law high Nassif, Saturday, the House of Representatives to hold a special session to discuss the "violations" of the government budget law for the current year, calling for disclosure of the mechanism of exchange and appointments and transfers of special grades and surplus oil revenues that occurred during the past months.

Naseef said in a statement to the information that the incomplete form of the next government allowed the current government to act outside the system of the budget law, asking the government to "disclose the mechanisms of exchange and appointments and transfers of special grades that occurred during the past months, Of article 61 of the Constitution ".

She added that "the parliament held a special session to discuss the doors of the budget and the 2018 violations by the government of the law in addition to disclosure of the amounts of oil surplus," asserting that "the adoption of the draft law of the budget in 2019 will be delayed because of the incomplete form of the state"

And appealed to Nassif all political blocs, "the dimensions of political strife for the executive work and to do things transparently away from the discussions of the completion of the formation of the state of the three presidencies and the nomination of ministers of the next government." Ending / 25

http://www.almaalomah.com/2018/09/29/349175/

[Butifldrm]

Economy

Saturday 13 October 2018 12:32 pm

| Number of readings: 238

 

Disclosure of imports and expenditures of Iraq since the beginning of 2018

 

 

 

BAGHDAD / Aswat al-Iraq: The total of revenues and actual expenditures achieved during the year 2018 for the period January to the end of last September.

"Oil revenues amounted to 60.43 trillion dinars, while non-oil revenues amounted to 7,233 trillion dinars, a total of 67,669 trillion dinars," Tamimi said in a statement.

She added that "the balance of the first period amounted to 3.129 trillion dinars, which means that the proportion of oil revenues is 89.32% compared to 10.68% of non-oil revenues."

Tamimi pointed out that "the total current and investment funds by 54,332 trillion dinars, the current budget ratio is 79.09% compared to 20.91%."

He noted that " the average monthly salary amounted to 3.899 trillion dinars, the total workforce of the ministries and departments centrally funded for the year 2018 of two million and 885 thousand and 736 employees" .anthy 1

http://aynaliraqnews.com/index.php?aa=news&id22=106590

[Butifldrm]

Deputy reveals total revenue and expenditure for 2018

 

Iraqi currency - Archive

2 hours ago

18400 views

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Digital Media NRT

MP Majida al-Tamimi revealed on Saturday that "the total revenues and expenditures achieved during the year 2018 for the period from January to the end of last September."

Al-Tamimi said in a press statement to her press office on October 13, 2018, "Oil revenues amounted to (60,436) trillion dinars, while non-oil revenues (7,233) trillion dinars, a total of (67,669) trillion dinars."

 It added that "the balance of the first period amounted to (3,129) trillion dinars, which means that the proportion of oil revenues is 89.32% compared to 10.68% of non-oil revenues."

She pointed out that "the total current and investment balances by (54,332) trillion dinars, ie the current budget ratio is 79.09% compared to 20.91 % .

Tamimi pointed out that "the average monthly salaries amounted to (3,899) trillion dinars, the total workforce of ministries and departments funded centrally for the year 2018 (2,885,736) employees."

http://www.nrttv.com/AR/News.aspx?id=5401&MapID=5