I was looking at news articles and one said that the parliament on sunday will "Agreement to support the ration card trillion dinars and the budget vote Sunday".
How can they through out a trillion dinars to the people. If they do this they the RV rate will be extremely low and close to what it is now.
If their reserves are 80 something US dollars then the RV would be way less then a dollar just basing it off of the amount of dinars inside the country.
Originally I heard there was only 26 billion dinars in Iraq and most were outside Iraq and that was the reason they could RV high.
This worries me because It is not making sense at all.
Anyone have any input on what is going on?
Article is below.
FEBRUARY 18, 2011 07:27 AM
Agreement to support the ration card trillion dinars and the budget vote Sunday
Posted: February 18, 2011 by THE CURRENCY NEWSHOUND – Just Hopin in Iraqi Dinar/Politics
Parliamentary source said Friday that the presidency of the Council of Representatives agreed with the heads of political blocs and the Finance Committee to present the law of the financial budget for the current year 2011 to a vote during the meeting next Sunday, while he noted that the conferees agreed to support the ration card trillion Iraqi dinars.
The source said in an interview with “Alsumaria News”, “The Iraqi parliament speaker Osama Najafi and his two deputies Qusay al-Suhail and Aref Tayfur agreed at their meeting this morning, with the heads of political blocs and the parliament’s finance committee to view the law of the financial budget for the current year 2011 to a vote at the meeting Parliament on Sunday. “
The source, who requested anonymity, that “the meeting discussed the paragraphs of the 13 federal budget in order of priority,” noting that “has been voting at the meeting to support the amount of the ration card trillion Iraqi dinars to provide five basic vocabulary.”
The source pointed out that “the conferees also agreed to support the social protection system and the development of the regions and the services sector, agriculture, and support students, and allocating a portion of imports of pilgrims to the provinces concerned,” explaining that “it was agreed that the ratio is operational 70% and investment 30%.”
The head of the Iraqi parliament Osama Najafi and his two deputies Qusay al-Suhail and Aref Tayfur held, this morning, meeting with the President of the Kurdistan Alliance bloc Fuad Masum, and the head of the Iraqi Salman Jumaili and deputy head of the National Alliance, Khaled al-Attiya and the head of the Virtue Ammar Tohma and the head of the Change Church Haji and Chairman of the Integrity Commission Bahaa al, Members of Parliament whose staff Muhsin al-Sadoun and Kanna addition to the Chairman of the Finance Committee Haider al-Abadi, its members and Finance Minister Rafie al-Issawi.
The Council of Representatives, on Thursday, its 34-headed Osama Najafi and the presence of 235 deputies, to draft the Supreme Judicial Council for second reading, and the continuation of the second reading of the draft federal budget law for the current year.
The Sadrists announced earlier that 130 deputies, mostly from the Sadrists and the Iraqi List, threatened not to vote on the law of the current year budget, in the absence of allocating 15% of the Iraqi people.
The cabinet approved on the sixth of February, the current budget for 2011 modified after an increase of three billion dollars to be worth 81.9 billion dollars with a deficit of 13.3 billion dollars will be covered by the amounts retained from the previous year’s budget and borrow internally and externally, noting that the total revenue estimator, 68 0.6 billion dollars, while operating expenses, ie salaries and wages in particular, by $ 56.4 billion, while the capital expenditures $ 25.4 billion, also pointed out that the calculation of income resulting from export of crude oil at a rate of 76.5 dollars per barrel at a rate of 2,000,200 thousand barrels per day, including 100 thousand barrels of the Kurdistan region.
And got “Alsumaria News”, Monday, the report of the parliamentary financial report to the House of Representatives on the bill on the federal budget for 2011, the Committee emphasized that the budget has focused on the priorities in the interest of the citizen and the country, and it does not meet all the needs of the Iraqis and the budget did not include report illustrates the extent of implementation of the stated objectives and the root causes of slow implementation, and whether or not the correct steps to address these causes.
The report said that the file of the budget did not provide information on the extent of implementation of previous budgets, in addition to its inability to estimate the data and information Almdorat cash and cash savings of annual and cumulative, so that could be adopted in the calculation of the deficit, and others, as the report pointed to the need to pursue additional means to address poverty, such as changing the way distribution of the ration card items, and the provision of minimum basic services, rehabilitation of industrial and agricultural sector, small businesses, support the private sector, stimulate the residential sector.
It is noteworthy that “Alsumaria News”, won in the ninth of February, the current, on the revised second draft general budget of the Federal Republic of Iraq for fiscal 2011, as last amended after the addition of three billion dollars, earmarked for investment projects of new and operating expenses of the ministries that were not related to the Ministry.