Everybody else feel free to chime in on this one, but here is what I see, including my calculations after the article:
Draft of 2014 budget complete; Not yet approved by Council of MinistersPosted: September 15, 2013 in Iraqi Dinar/Politics Tags: Ceyhan, Committee, Council of Ministers, Economy of Iraq, House of Representatives, Iraq, Member of Parliament, Oil reserves in Iraq
Completion of the draft budget for 2014 and submit them to the Council of Ministers
Posted on: 14/09/2013 09:28:09
Commission announced the economy and investment in the House of Representatives for the completion of the draft budget bill for next year 2014 is waiting for the adjournment of the Council of Ministers.
A member of the Committee on the economy bloc MP Abdul Hussein Abtan citizen “The budget for 2014 submitted to the Council of Ministers has not been approved yet and therefore did not reach the House of Representatives.”
“From the budget is expected to take a full month until completed, and that next year’s budget adopted 3 million and 500 thousand barrels of daily oil exports at $ 90 per barrel.”
Between Abtan that “estimates of the total budget so far reached 166 trillion Iraqi dinars is expected to be completed in November next fully.”
So, with that understanding, here's what I see:
$90 x 3,500,000 barrels/day = $315,000,000/day usd x 360 = $113,400,000,000/year / 116 trillion iqd: 9.775862 iqd = 1 usd 1usd / 9.775862 iqd = 0.1022927 usd or about 10 cents 1 IQD = 10 CENTS US
Isn't that pretty close to Adam's long-standing rate prediction?