hammy

It's 15k a month, not a year. Right now 15k is not very much money. Right now it is a slap in the face. If it R.V.'s it will be worth something. Edit: if it R.V.'s they will most likely change the amount. I have heard rumors that it is 15k a year but all news articles say per month.

Hey andy3978 don't forget this is a budget, being a business man it is really only an OUTLINE of what to follow. The budget is always speculative, a guidline to try to follow. It does not include NEW contracts for oil that could come in tomorrow. That would only help the budget. Look at it this way. My expense for my business every year is say $100.00 (hypothetical), looking at past income per month on average is around say $15.00. Over 12 months that equals $180.00 income. That gives me and extra $80.00 to work with this year if everything comes in as planned. So I make plans with the $80.00. But unexpectedly my company signed a deal worth $100,000.00 (That would be like 100's of OIL deals) so not only do I cover expense I got all this extra cash that I have not budgeted for anything. See what I'm saying? It's only a budget. Nothing is ever written in stone in business, much much less in Government.

The Iraqi Government has passed a budget this year Sunday, unmodified after increasing three billion dollars to become worth 81 $ 9.3 billion, with a deficit worth $ 13.3 billion, a Government spokesman confirmed that the Cabinet Finance Minister grants authority to borrow from the World Bank and IMF. And the Iraqi Government spokesman Ali Dabbagh said in an interview for "Sumerian news," the Cabinet of Ministers approved at an extraordinary session, held on Sunday, to counterbalance the year 2011, valued 96.6 trillion dinars ($ 81.9 billion), after you make modifications and the addition of three billion dollars. " Dabbagh said that "balancing operational expenses included, i.e. salaries and wages in particular, rose $ 56.4 billion, while capital spending of $ 25.4 billion, total income estimated 68.6 billion dollars on the basis of the export of 2.2 million barrels per day at $ 76.5 barrel including 100,000 barrels of Kurdistan". Dabbagh said that "the value of deficit 15.7 trillion dinars ($ 13.3 billion), which will be covered from recycled surplus amounts in the balance 2010, internal and external borrowing and savings realized from increasing oil prices." In another context Dabbagh said that "the Council of Ministers the granting of Finance Minister Rafe Al-Issawi power to borrow $ 4.5 billion from the IMF, and $ 2 billion from Bank". Cabinet decided, at its regular meeting, held on 26 September, to approve the allocation of $ 900 million to buy aircraft F 16, on the amendments in the budget bill for fiscal 2011, also agreed to amend a barrel to $ 76.5 million establishments and 200,000 barrels per day. Cabinet approved early last month, the general budget for the year 2011 deficit of $ 12 billion will be borne of amounts recycled last year budget and borrowing both internally and externally, stating that the projected revenue estimated at $ 66.7 billion expenditure amounted to 78.7 billion, or $ 12 billion dollar deficit, as the computation of income from export of crude oil at a rate of 37 per barrel averaging 2 to 250 thousand barrels per day, including 150,000 barrels of crude oil exported from Kurdistan. Sumerian news was received, last month, the amended version of the draft general budget law of the Federal Republic of Iraq to FY 2011 final amended after adding speculative cost hosting Arab Summit in Baghdad. Bill amended to keep federal public budget revenue estimates for FY 2011 amount former (78.705.237.500.000) BD (seven hundred seventy-eight tirlion five billion two hundred and thirty-seven million five hundred thousand dinars) as key accounts, but the increase in budget deficits and expenditure so allocated $ (94.295.059.613.000) tirlion (ninety-four hundred and five thousand and ninety billion and fifty-nine million, six hundred and thirteen thousand dinars for FY 2011 parses as (field 3 total expenditures) (table b expenditure by ministries) of the Act. The draft budget before the amendment stipulates that are allocated an amount of (92.980.582.970.000) two ninety nine tirilion and 180 billion, eight hundred and fifty million, and seven and ninety thousand dinars for FY 2011 parses as (field 3 total expenditures) (table b expenditure by ministries) of the Act. As Bill calculation of revenue resulting from the export of crude oil on the basis of the average price of $ 73 a barrel, and the average export capacity (2250000) barrels per day ($ 150,000) barrels on income derived from crude oil exports by province of Kurdistan. The Bill also provided that ministries and bodies that are not linked to the Ministry by being "closer" all amounts of cash grants, obtained under agreements with foreign Governments or institutions, as income to the federal Treasury and the Federal Ministry of finance for reassignment for purposes which have been granted, in coordination with the Federal Ministry of planning. The project must be credited all amounts of cash that you get ministries and bodies that are not linked to the Ministry and irregular provinces province, after acceptance of the Cabinet, whether from foreign sources, Federal Minister of finance to the Federal Minister of finance for allocation of funds of the Ministry or the non-Exchange Department in accordance with the purposes for which was granted. Translated article and then posted it. Link is above.

Don't let it worry you. If you lived in Iraq and were given 15,000 dinar you would go straight to the store and buy a pack of smokes some twinkies and a cup of coffee. If you ask me 15,000 dinar is a slap in the face to the Iraqi people especially when it's for the month. But if they were to Re-value the dinar it would be a tremendous blessing. Either way it wont change what is going to happen. I still say look toward June of this year. R.V. is on its way, be here soon. Edit: Don't forget the Kuwait citizens are some of the richest people in the world. They spread that oil wealth around. Maybe Iraq is planning the same.

No need for awards, just post what I read. Though I try to only post news about Dinar, Budget, Political moves connected to Dinar or Budget. To much news posted here that is not important to those things. Car bombs in baghdad are terrible but not what I would post here as news. Oil contracts are important too. Thanks for the Kudos though.

I have a feeling we wont here anything about a rate for a little while. Lots more to do unfortunately, like the GOI. Don't worry though A Very Big Puzzle Piece was just inserted into the puzzle. We can start to see the Big Picture taking shape.

I'm happy, just didn't want something to spin off that wasn't true. I was going to post those other news articles anyway. Someone said they saw an article saying it was not approved. No problems rsskelton, did not mean to sound as if I was mad or something if that's the way it came off I am Sorry. With the Big Giant Elephant removed from the room they can get a lot done now, watch. It's 6:00pm Iraqi time, most likely not much more news coming out today. Tomorrow is gonna be interesting though.

Funding foreign oil companies in Kurdistan laid in Iraqi budget Sunday, February 6th 2011 9:58 AM Sulaimaniya, Feb.6 (AKnews)- A member of the oil and gas committee in the Iraqi parliament said Saturday the compensation of the foreign oil exploring and drilling companies functioning in the Kurdistan Region is stipulated in the Iraqi budget 2011, while he urged the Kurdish administration to present the Iraqi government with details of its oil contracts to be entitled the right. Byazid Hasan told AKnews it is mentioned in the Iraqi 2011 general budget that the Iraqi government will remunerate the companies. After almost one year and half, the Kurdistan Region will resume its oil exports. The suspension was because Baghdad refused to reimburse the companies for it recognized the Kurdistan oil contracts “illegal.” The phase seems to have elapsed, thanks to constant negotiations between the top officials from both the Kurdish and Baghdad governments. However, Hasan said, there is an issue as to how the companies will be reimbursed. The Kurdistan Region is yet to disclose the details of its oil contracts to the Iraqi side. Even in the previous cabinet the oil minister, Hossein Shaherstani, demanded to forward the deals to Baghdad for inspection, Hasan said. He urged the Kurdish government to provide Baghdad with the contracts’ details, “or it may be deprived from the reimbursement for the companies.” In an interview with the AFP Saturday the Iraqi Prime Minister Norui al-Maliki voiced his cabinet’s readiness to pay back the companies. The Iraqi budget is still debated among Iraqi lawmakers. http://www.aknews.com/en/aknews/2/216054/ It means the Budget is approved. Kurds are included in the budget according to Aknews.

NO! This has nothing to do with a rate. No rate has been made. Do not confuse us messing around with the The facts of the Article. That being said here are 3 different news agencies talking about the approval. http://www.babnews.c...ew.asp?ID=34470 http://www.inciraq.com/pages/view_page.php?id=49419 http://www.burathanews.com/news_article_116063.html

Stop I saw 3 articles already this morning, posted a second one above. Did not think posting the 3rd would matter though if you need me to I will.

I say we just meet somewhere near Kawai and tie up both Yachts and throw a really big celebration

HOLY CRAP PEOPLE, THE BUDGET IS APPROVED! This is only Sunday, the beginning of the week. Lots can still be done this week. Can't wait to see what they can accomplish now that the Elephant is out of the room.

66.6 not really something I worry about would love for the dinar to come out at $6.66 USD

Another article! http://www.babnews.com/inp/view.asp?ID=34470 Warnings from the results of delay in approving the budget in 2011 Posted 06/02/2011 12:00 AM Babuz: central bank warned Iraqi political blocs of the delay in approving the budget in 2011, because that would negatively affect the reality of economic development in the country. The adviser said the Central Bank of Iraq the appearance of Mohammed in a press statement that the delay in the budget in 2011 will cause more economic development in the country is large and would particularly affect the growth rates. Mohammed said that the delay does not affect the budget for the monetary policy of the country they are part of the fiscal policy management and paid for by the Ministry of Finance and not the CBI.

The operational budget amount is scary think they could have made it 66.7 or something.

Government approves 2011 budget – spokesman 2/6/2011 4:22 PM BAGHDAD / Aswat al-Iraq: Spokesman of the Iraqi government said on Sunday that the government approved the 2011 federal budget with 96.6 trillion Iraqi dinars. “The Council of Ministers approved the federal budget of 2011 during an extraordinary session at 96.6 trillion dinars,” Ali al-Dabbagh said in a statement received by Aswat al-Iraq news agency. “The operational budget is 66.6 trillion dinars, while the investment budget is 30 trillion dinars,” he added. “The outcome is 80.9 trillion dinars after exporting 2.2 million barrels at a price of 76.5 dollar per barrel, including 100,000 barrels export from Kurdistan,” he explained, pointing out that the deficit reached 15.7 trillion dinars. “The finance minister has been authorized to borrow 4.5 billion dollars from, the international Monetary Fund, in addition to 2 billion dollars from the World Bank,” he said. http://en.aswataliraq.info/Default1.aspx?page=article_page&id=140862&l=1

Well I have a really good answer for your question. Media BS that's BULLS*** with a capital BULL. For example I travel over to Middle East at least once a year. Some of my friends think that I am crazy. For example, went to Israel had a great time. Thought that it is not safe in Israel with some of the media reports of suicide bombings and conflicts with surrounding Arab countries. While I was there ( and have been several times ) never saw even one stone thrown. While I was there family here said news reports showing riots and uprisings. As a matter of fact was all over CNN and they were concerned. If you go to a certain city and a certain area of that city in a certain neighborhood on a certain road next to a particular house could find some trouble. Get my point. Hell I wouldn't walk around most of the cities in this country. Media, what they want us to believe and what is, are two very different things. He is listening to the wrong reports. Who's report are you going to listen to?

His title may be more accurate than he thinks. Lots of pieces to this puzzle. Paris Club, Kuwait debt, Arab Summit, Delay of Ministries, Protecting Iraqi Money abroad, Getting the Budget passed, (which could take longer than anyone wants it to, I believe the Kurds are slowing this down) Hopefully I will get some good inside information in a couple weeks. I have an appointment to meet with a couple of friends. I've been asked not to mention their names, though I will tell you one man was U.S. governments Middle East Trade Specialist, the other is an International Currency Expert. Both btw are invested in Dinar. Meeting is March 3rd. Hopefully like I said I can get some good intel. ) btw Andrea Cornwell now holds that position for the U.S. Government.

When we start to see articles like this one it tells me Iraq is aware of things that need to take place or at least appear to be taking place for the value of their currency to be raised. Notice line 10 in the first post about education. http://www.burathanews.com/news_article_115866.html University of Kufa, progressing in the classification of the best universities in the world 04/02/2011 President of University of Kufa, on Thursday, on the progress of his university in the world rankings (Webometrics) Spanish to the best universities in the world to be the first by an Iraqi university is making progress in the classification after the center reached 6097 of between 12 000 universities worldwide. Abdul Razzaq al-Essa said "the university has also become ranked 77 among Arab universities and thus surpassed the large number of Arab Universities, which have a long tradition in the academic sphere and cut off many years compared with the age of the University of Kufa, which does not exceed 24 years." He explained that the "University of Kufa, ranked 6097 of between 12 000 universities worldwide, despite the existence of competition between the various universities in the world and this result may be the University of Kufa and made within six months on the 5903 world class after it was ranked 11 152." He said that "The achievement was made thanks to the efforts of all teachers, faculty and staff and soldiers of the fourth power in the Department of Information and Public Relations." Demanding "associate the need to maintain the results and mattresses developed obtained by the university." According to the President of the University Coffee Abdul Razzaq Al-Essa, the University of Kufa was Rkizatha basic scientific institution is the academic institution was known Hozoip forum posting and was founded in 1957 as well as the Faculty of Islamic Jurisprudence and adopted far the most important college in the university.

tjmunson,....................I say Ditto. Great comment

You need to search for Google Toolbar 6. Download it. It comes with a translate tab. Go to website, click the translate tab. Off you go.

Would that be in USD or IQD?

No link needed, Rumor Section.

Does not matter what the date is on this kind of an article. Take the meat, leave the bones.

Posted 03/02/2011 08:00 AM ISTANBUL (Reuters) - Hussein al-Shahristani, Iraqi Deputy Prime Minister for Energy said that Iraq will finalize a deal worth $ 12 billion, with Shell and Mitsubishi of Japan to the imprisonment of gas from the Iraqi oil fields during the month. Al-Shahristani told Reuters in an interview in Istanbul that the consent of the Council of Ministers will take a few weeks after that. Iraqi officials have said that the final approval of the long-delayed deal, which was delayed since at least September because of legal problems on the form of the joint venture. The Iraq burn billion cubic feet of gas per day in oil fields is a source of energy it needs to generate electricity and to end chronic power outages that are still plaguing the country after nearly eight years on the U.S. invasion. Shell wants to imprisonment of associated natural gas from southern oil fields near Basra, including Rumaila, which is being developed by BP. Me. Said Mounir Bouaziz, Vice President of Shell in the Middle East and North Africa, told Reuters that Shell continues its preparations for the imprisonment of the associated gas project and was opened last week a tender to build power plant capacity of 50 MW near Khor Al-Zubair. http://www.babnews.com/inp/view.asp?ID=34329