2013 Budgit

[Think about it]

http://www.middle-east-online.com/english/?id=57395 don't know about this site but it says bugit is passed.

 

BAGHDAD - Iraq's parliament approved on Thursday a $119.1 billion (91.6 billion euro) budget for 2013 after weeks of delay, but Kurdish representatives and most members of the main Sunni-backed bloc did not attend, MPs said.

 

Parliament has struggled to pass even key legislation such as the budget due to political disputes that have deadlocked the body.

"The vote was held today on all the articles of the budget," Ali Shlah, an MP from Prime Minister Nuri al-Maliki's State of Law bloc, said.

There were 168 out of 325 MPs present at the time of the vote, Shlah said, explaining that Kurdish MPs and about three-quarters of those from the secular, Sunni backed Iraqiya bloc did not attend.

 

MP Alaa Talabani said the Kurdish representatives stayed away because they consider the amount of money allocated in the budget to pay foreign oil companies operating in autonomous Kurdistan to be insufficient -- a long-running dispute between the region and Baghdad.

 

And Iraqiya is at odds with Maliki over its accusations against him of authoritarianism and sectarianism.

Rafa al-Essawi, a leading Sunni and Iraqiya member who served as finance minister, announced his resignation at an anti-government protest earlier this month.

 

Shlah said the budget contains additions from the version approved by the cabinet last October, including salaries for anti-Al-Qaeda Sahwa militiamen.

 

Officials said in January that those salaries would be increased, a measure aimed at placating demonstrators who have held weeks of protests against the government in Sunni areas of western and northern Iraq.

 

The budget allocates about $16.9 billion, or 14.1 percent of the total, to security and defence, according to parliament's website.

While the security situation in Iraq has improved significantly compared to past years, attacks remain common, killing 220 people in February, according to a tally based on security and medical sources.

Edited March 8, 2013 by Markinsa
Added Contents of Link

[SgtFuryUSCZ]

***///

Interesting article.  They quoted figs on folks being killed over there (220 in FEB alone).... we're hoping for them that the new fiscal condition will greatly decrease this over there....

 

Maybe with currency stability and pride at having their own real money, they'll settle down and behave a little better.

 

 

 

 

If ya'll wanna kill somebody....

 

 

 

 

kill the maliki. (and his boyfriend Amahdininut, too)

[jeepguy]

waiting to see  if another article will state the same message...   wonder why in euro`s?

[rsskelton]

I did a bit of checking out this site. The sites home base is in the UK. My guess is that would be the reason for the Euros comment.

 

RSS

waiting to see  if another article will state the same message...   wonder why in eur

[Linda]

we are hearing it all over that budget has passed...now if they will just get everything else done...that would be great...

[userghost]

why is this in rumors with a article link?

[Bull Dog]

Adam confirmed the budget being passed

[RVPleaseToday]

The budget is passed every year. Folks claim every year that the RV is in the budget. Still no rascally RV, though.

[easyrider]

The budget is passed every year. Folks claim every year that the RV is in the budget. Still no rascally RV, though.

just the federal was approved and passed there are other parts of the budget like the investment side that deal with foreign commerce no new rate yet but its not all done as of yet.  Stay tuned.  Bottom line Iraq needs major foreign companies coming in and if the articles are true that they will only be paying out in IQD the rate must change.

Iraq needs to build their national currency up with true value, at a program rate of 1166 that will not do.

Edited March 8, 2013 by easyrider

[Silverdinar]

So GOI/PARLIAMENT give us the rate already....  we have business to take care of too you know....got to buy grandkids some new toys and trips to see Mickey Mouse and the  whole gang...

[sandfly]

GET THE RATE CHANGE

[RVPleaseToday]

 "Bottom line Iraq needs major foreign companies coming in and if the articles are true that they will only be paying out in IQD the rate must change."

 

You do realize that this would discourage foreign investment, not encourage it. First, no American company would want to be paid in anything but USD. Secondly, the more value an IQD has against the dollar, the more expensive it will be for American companies to build stuff and do business in Iraq.

 

A more valuable IQD is exactly what we as speculators want; but, it's the last thing a company going into Iraq wants. Material and labor costs would be thousands of times more expensive for an outside company after a significant RV.

 

We make money after a significant RV because we paid so little for our Dinar. Such an RV isn't really good for anyone else, though.

[Luigi1]

From my readings on some of the Iraq Bussiness News sites, the 2013 budget is based on the IQD1166 rate, $90 barrel oil & not the RV rate.

 

No RV yet but could happen before the budget is finalized once aired & made public in the Gazzett in 2 weeks.

 

This is a win win for the Kurds & all other blocs. The cards will be loaded & oil profits of 25% will go to the people. This will help strengthen the Iraq economy through consumer spending & new contracts awarded.

 

The only obstacle remaining is the completion of the GOI & Amnesty.

 

All are great news & will bring value to the post IQD RV/float.

[sailin12]

Bottom line...the dollar is being used widely across the nation than the dinar.Which has more value? Which currency will climb in value quicker? IMO, the dinar.

[SgtFuryUSCZ]

***///

 

LUIGI -----   

[ReVbo]

 "Bottom line Iraq needs major foreign companies coming in and if the articles are true that they will only be paying out in IQD the rate must change."

 

You do realize that this would discourage foreign investment, not encourage it. First, no American company would want to be paid in anything but USD. Secondly, the more value an IQD has against the dollar, the more expensive it will be for American companies to build stuff and do business in Iraq.

 

A more valuable IQD is exactly what we as speculators want; but, it's the last thing a company going into Iraq wants. Material and labor costs would be thousands of times more expensive for an outside company after a significant RV.

 

We make money after a significant RV because we paid so little for our Dinar. Such an RV isn't really good for anyone else, though.

 

 

Why would materials and labor cost thousands of times more after an RV? If an oil worker makes 500,000 dinars now, after an RV, we're not going to keep paying him 500,000 dinars. We're going to pay him whatever the equivalent is post-RV. If it's 1:1, we'll pay him 500 dinars. A cheeseburger isn't going to continue to cost 2000 IQD after a reval. It'll cost, say, 2 IQD. 

 

As far as US companies wanting to be paid in dollars, US companies get paid in other currencies around the world right now. They either keep them where they are in the local currency, or convert them to dollars and send them home. They can't do that easily in Iraq at the moment, but once the dinar is convertible, that's what they'll do.

[wpsmit]

RV! RV! RV!

[josh772]

RV! RV! RV!

HAHA dude ur pic is epic

[buddy57]

Why would materials and labor cost thousands of times more after an RV? If an oil worker makes 500,000 dinars now, after an RV, we're not going to keep paying him 500,000 dinars. We're going to pay him whatever the equivalent is post-RV. If it's 1:1, we'll pay him 500 dinars. A cheeseburger isn't going to continue to cost 2000 IQD after a reval. It'll cost, say, 2 IQD. 

 

As far as US companies wanting to be paid in dollars, US companies get paid in other currencies around the world right now. They either keep them where they are in the local currency, or convert them to dollars and send them home. They can't do that easily in Iraq at the moment, but once the dinar is convertible, that's what they'll do.

i agree

[cardealing4life]

Why would materials and labor cost thousands of times more after an RV? If an oil worker makes 500,000 dinars now, after an RV, we're not going to keep paying him 500,000 dinars. We're going to pay him whatever the equivalent is post-RV. If it's 1:1, we'll pay him 500 dinars. A cheeseburger isn't going to continue to cost 2000 IQD after a reval. It'll cost, say, 2 IQD. 

 

As far as US companies wanting to be paid in dollars, US companies get paid in other currencies around the world right now. They either keep them where they are in the local currency, or convert them to dollars and send them home. They can't do that easily in Iraq at the moment, but once the dinar is convertible, that's what they'll do.

makes perfect sense

[Adam Montana]

Why would materials and labor cost thousands of times more after an RV? If an oil worker makes 500,000 dinars now, after an RV, we're not going to keep paying him 500,000 dinars. We're going to pay him whatever the equivalent is post-RV. If it's 1:1, we'll pay him 500 dinars. A cheeseburger isn't going to continue to cost 2000 IQD after a reval. It'll cost, say, 2 IQD. 

 

As far as US companies wanting to be paid in dollars, US companies get paid in other currencies around the world right now. They either keep them where they are in the local currency, or convert them to dollars and send them home. They can't do that easily in Iraq at the moment, but once the dinar is convertible, that's what they'll do.

 

 

Nice post. It boggles my mind that some people aren't able to take that next step in logic and realize that the value of the currency will go up, but not necessarily the value of a service or product... therefore, the cost of goods and service will simply have a different numerical value after a rise in the value of the currency.

[noco]

BAGHDAD - Iraq's parliament approved on Thursday a $119.1 billion (91.6 billion euro) budget for 2013

 

Is this article saying that 119.1 billion Dinar = 91.6 billion Euros?

 

If so that means 1.3 Dinar = 1 Euro

 

Today 1.3 USD = 1 Euro

 

So does that equate to a 1 to 1,  or am I just confused? (again)

Edited March 8, 2013 by noco

[cardealing4life]

BAGHDAD - Iraq's parliament approved on Thursday a $119.1 billion (91.6 billion euro) budget for 2013

 

Is this article saying that 119.1 billion Dinar = 91.6 billion Euros?

 

If so that means 1.3 Dinar = 1 Euro

 

Today 1.3 USD = 1 Euro

 

So does that equate to a 1 to 1,  or am I just confused? (again)

can anyone help on this one, it's confused me too.

[Skybear]

BAGHDAD - Iraq's parliament approved on Thursday a $119.1 billion (91.6 billion euro) budget for 2013

tHE A

 

Is this article saying that 119.1 billion Dinar = 91.6 billion Euros?

 

If so that means 1.3 Dinar = 1 Euro

 

Today 1.3 USD = 1 Euro

 

So does that equate to a 1 to 1,  or am I just confused? (again)

 

The article was in $$$ (that is DOLLARS) and 1.3 USD = 1.3 USD

[umbertino]

BAGHDAD - Iraq's parliament approved on Thursday a $119.1 billion (91.6 billion euro) budget for 2013

tHE A

 

Is this article saying that 119.1 billion Dinar = 91.6 billion Euros?

 

If so that means 1.3 Dinar = 1 Euro

 

Today 1.3 USD = 1 Euro

 

So does that equate to a 1 to 1,  or am I just confused? (again)

 

The article was in $$$ (that is DOLLARS) and 1.3 USD = 1.3 USD

Right.