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Cabinet decides to lend threshold Husseiniya 21 billion dinars to meet its obligations - Have they opened the budget?

TBomb

By TBomb,
in Iraq & Dinar Related News

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TBomb Newbie

TBomb

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Cabinet decides to lend threshold Husseiniya 21 billion dinars to meet its obligations
Alsumaria News - 07/02/2013 - 4:56 pm | Hits: 9

 

Alsumaria News / Baghdad
Council of Ministers decided, on Tuesday, to approve the credit of the Secretariat of the threshold Husseiniya 21 billion dinars to meet its obligations with the executing companies and the completion of projects and pay the salaries of their employees, while decided to authorize the Minister of Finance to export imported materials, and the authorization of the Ministry of Commerce direct contracting to import sugar.

The council said in a statement, received "Alsumaria News" "The Council of Ministers decided during its 28 regular held today, lending to the Secretariat of the threshold Husseiniya of stopping the Shiite sum of one billion dinars to meet the threshold obligations with the companies implementing and completion of projects continued to serve visitors exclusively, and the amount of 20 billion dinars planned to pay salaries to its employees, which were not in sufficient budget allocations to cover. "

The council said it "will deduct these amounts from the amounts to be allocated to the threshold when achieve an increase in revenue from exports of crude oil exported during the first six months of this year, based on the provisions of Article (16 / item II / para s) of the Law of the federal budget for the fiscal year 2013. "

Furthermore, the Council stressed that he agreed to "authorize the Minister of Finance to re-export of imported materials, which shows non-compliance with the conditions and specifications required," noting that he had agreed to "authorize the Department of Commerce authority to direct contracting with the company's pro exclusive agent for Gulf Factory for the processing of sugar including plugging need The ministry exception of the financial ceiling set for the contracting authority to the minister in accordance with the formula for the price of sugar in the ministry and the immediate processing. "

 

http://www.alrafedain.net/index.php?show=news&action=article&id=105394

 

 

(see highlighted section directly above..does this sound like they've opened up the 2013 budget?????)

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TBomb Newbie

TBomb

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however this sounds to me like they're waiting to pass oil and gas before they allocate the budget funds: " The council said it "will deduct these amounts from the amounts to be allocated to the threshold when achieve an increase in revenue from exports of crude oil exported during the first six months of this year, based on the provisions of Article (16 / item II / para s) of the Law of the federal budget for the fiscal year 2013. "

 

Of course I could be wrong.  Sounds like they want to determine oil profits prior, so that could indicate they may not be using budget funds..just not sure.  I'd love anyone's opinion/take on this, please?



agreed Waterman, I'm just not sure...it could be a loan against the budget.

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Tripphood Newbie

Tripphood

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Thanks TBomb! This is a big deal...glad you bumped it. Sadly it does sound like it has been opened. that would be very disappointing...

I must be missing something, I thought we wanted them to open the 2013 Budget because it was based on the new rate. No? What have I missed. Thanks in advance.

Edited by Tripphood
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Catluver67 Explorer

Catluver67

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I must be missing something, I thought we wanted them to open the 2013 Budget because it was based on the new rate. No? What have I missed. Tanks in advance.

Yes that is what we were hoping for...so if they have opened it and the rate hasn't changed then that would mean that it is probably delayed. I have found hope in the fact that they hadn't opened it yet or loaded the cards thinking they were holding off till they made a change. Would just be disappointing if the budget has been opened and the rate was still same ol 1166.

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Tripphood Newbie

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Yes that is what we were hoping for...so if they have opened it and the rate hasn't changed then that would mean that it is probably delayed. I have found hope in the fact that they hadn't opened it yet or loaded the cards thinking they were holding off till they made a change. Would just be disappointing if the budget has been opened and the rate was still same ol 1166.

Oh, I see, that's what you meant by being disappointed..... Thanks for clearing that up. So, the budget has NOT been opened? I was thinking that they were holding off on opening the budget because they were waiting for certain things to happen, one of which we just witnessed. Edited by Tripphood
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Catluver67 Explorer

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Oh, I see, that's what you meant by being disappointed..... Thanks for clearing that up. So, the budget has NOT been opened? I was thinking that they were holding off on opening the budget because they were waiting for certain things to happen, one of which we just witnessed.

I completely agree with you! I have not seen any straight forward mention of them opening it...and at closer glance this says "will deduct" that to me just sounds like its allotted but not actually disbursed. Personally I don't think they have opened it...

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