USD $138 Billion in Iraq 2013 budget.

[Luigi1]

Guru Eagle Has Landed finds a UN video link...Iraq 2013 budget not IQD 138 Trillion or IQD 138 Billion but is USD $138 Billion. Open the vedio link, fast forward to around 37 minutes into the video.

 

In addition, there are some of the 2011 & 2012 left over budgets to be carried over & rolled over to the 2013 budget. This should clarify some of the mystery as to the actual size of the 2013 budget.

 

Could the budget in USD be a fast track way to suck up all the USD off the streets to facilitate a rapid RV?

Your thoughts please. Go RV.

 

 

 

http://webtv.un.org/search/iraq-security-council-6937th-meeting/2242002822001?term=iraq

[dontlop]

i saw numbers .. i didnt do the math .. but the 138 trillion plus budget figures  when converted to dollars is 116.5 billion dolars

 

and if its in dollars .. it would be 168 trillion and change dinars.. unless they changed the rates to 1000 to 1

 

 if they changed the rates 1000 to 1 .. then they would be equal amounts .. 138 trillion dinars  would equal 138 billion dinars ..

 

so we heard .. the bugets both in dinar figures and dollar figures  from different sources .. saying the same 138billion dollars  ..138 trillion dinars .. so could it be  a rate change may be to 1000 to 1 ?

[Luigi1]

i saw numbers .. i didnt do the math .. but the 138 trillion plus budget figures  when converted to dollars is 116.5 billion dolars

 

and if its in dollars .. it would be 168 trillion and change dinars.. unless they changed the rates to 1000 to 1

 

 if they changed the rates 1000 to 1 .. then they would be equal amounts .. 138 trillion dinars  would equal 138 billion dinars ..

 

so we heard .. the bugets both in dinar figures and dollar figures  from different sources .. saying the same 138billion dollars  ..138 trillion dinars .. so could it be  a rate change may be to 1000 to 1 ?

 

 

 

 

It looks like they have a plan set in place. Use USD for the budget, suck all the USD off the streets a fast as possible, then RV.

[JMULS31]

Sounds like you're right. Hopefully thats the case.  Will see. If it doesnt RV by end of May then this will carry over to next year.

It looks like they have a plan set in place. Use USD for the budget, suck all the USD off the streets a fast as possible, then RV.

[powerpager]

1000-1, Lets eat cake !

 

[stlou]

Guru Eagle Has Landed finds a UN video link...Iraq 2013 budget not IQD 138 Trillion or IQD 138 Billion but is USD $138 Billion. Open the vedio link, fast forward to around 37 minutes into the video.

 

In addition, there are some of the 2011 & 2012 left over budgets to be carried over & rolled over to the 2013 budget. This should clarify some of the mystery as to the actual size of the 2013 budget.

 

Could the budget in USD be a fast track way to suck up all the USD off the streets to facilitate a rapid RV?

Your thoughts please. Go RV.

however, last years budget was 119 billion in USD.  with that said, this budget, if the current rate held, would only be 117 billion USD.  How can they claim it will be the largest in the history of Iraq?

http://webtv.un.org/search/iraq-security-council-6937th-meeting/2242002822001?term=iraq

[JMULS31]

I would be eating more than cake...   :backflip:  

1000-1, Lets eat cake !

 

I dont own VND, and I have been doing my reasearch on it but all the news on the currency is really old.  Is it worth buying?

[Primma]

1000 to 1 is 1000 USD  I'm not eating cake for that..  I don't know much...But,  1000 to 1.  Lop the 3 zeros and you done.  We break just about even..  I hopw not, but looks that way.

 

Just my thought.

[Rayzur]

No, I doubt that the budget in USD is about that.... And the amount is off by a bit it would appear?

 

Their budget is 93% oil revenue driven and oil is pegged on the USD.....

 

And, 

 

Here is the official Inter-Agency Information and Analysis report (just a snippet of it) giving the actual numbers:

 

 

• The Government expenditure for 2013 totals IQD 138.4 Trillion ($ 118.3 Billion), with an increase of 18%  

over 2012 and exceeding 70% of GDP. The budget has three main headings: Energy, Security / Defense  

and Social Services, accounting for 21%, 14%, and 13% respectively of total budget.  

• Investment Expenditure represents 40% (IQD 55.1 Trillion) of government budgeted expenditure, the  

largest ever for Iraq. Investment in Oil and Electricity amounts to over 43% of the investment expenditure. 

 

• Government budgeted revenues amount to IQD 119.3 Trillion, with revenues from oil making 93%. The  

increase in oil revenues, made it possible for the government to cover its operating expenditure and  

allocate more to investment, yet heavy reliance on oil resulted in a budget fragile to oil shocks, and  

government going through complementary budgeting, and excessive delays in investment projects  

implementation. 

• Notwithstanding the increase in oil production and revenues, oil alone is not enough to cover budget  

deficit and contribute to a financial resilient Iraq; financial reserves in Iraq can cover government  

operating expenditure for less than a year. In order to improve Iraq financial resilience and reserves in  

the short run, Iraq needs, in addition to its plan to increase oil revenues, to increase non-oil revenues  

(which are stable, around IQD 7 Trillion, since 2008), and to rationalize operating expenditure (Iraq has  

one of the largest public sectors relative to population). While in the long run, revenues diversification  

goes hand by band with diversification of the economy and expansion of the private sector. 

[sandyf]

The budget law states 138 trillion dinar. Why do people try and put another figure to it.

 

 

((Chapter II)) 
Expenditure and deficit

Article 2, first "expenses: 
The sum amount 138424608000)) thousand dinars (one hundred and thirty eight thousand four hundred and twenty-four billion and six hundred and eight million dinars) for the expenses of the fiscal year 2013 / distributed according to (field / 3 total expenditure) (Table / c expenditure by ministries) attached to this law.

 

http://translate.google.com/translate?hl=en&rurl=translate.google.com&sl=ar&tl=en&twu=1&u=http://parliament.iq/index.php%3Fnewlang%3Darabic

[sandfly]

YEP

[Luigi1]

I would be eating more than cake...   :backflip:  

I dont own VND, and I have been doing my reasearch on it but all the news on the currency is really old.  Is it worth buying?

 

 

 

 

The VND probably won't go at the same time as the IQD as the Gurus claim. The VND is tied to the China Yuan & it's economy. When the Yuan RVs, the VND will RV as will other SEA currencies tied to the Yuan.

 

The VND is a good investment. I have VND. I will hold till it happens.

 

Another currency worth holding is the SKW at close to the IQD rate near 1100 to $1.

[JMULS31]

SKW?  I looked that up, nothing comes up

The VND probably won't go at the same time as the IQD as the Gurus claim. The VND is tied to the China Yuan & it's economy. When the Yuan RVs, the VND will RV as will other SEA currencies tied to the Yuan.

 

The VND is a good investment. I have VND. I will hold till it happens.

 

Another currency worth holding is the SKW at close to the IQD rate near 1100 to $1.

[Luigi1]

SKW?  I looked that up, nothing comes up

 

 

Forex may have it listed as Korea Won.

[sandyf]

Forex may have it listed as Korea Won.

 

ISO code for South Korea is KRW and North Korea is KPW.