News of Budget Ongoing --- Join us in Chat

[moose 57]

my ear itches

[CHEESEHEAD]

Just wanted to say Thank You for all the great posts. It's getting really exciting  !!!!

[tamarar2000]

Watt Street Journal

Iraq’s Parliament Approves 2015 Budget Following Oil Price Debate

Jan. 29, 2015 2:36 p.m. ET

0 COMMENTS

BAGHDAD—Iraq’s parliament has approved the country’s 2015 budget following weeks of debate on lower oil prices and how to write in a landmark oil export deal reached last year between Baghdad and the northern Kurdistan region.

The budget is based on $56 a barrel of crude, lowered from $60 a barrel in earlier drafts. Despite lower projected revenues from oil sales, the budget projects a deficit of $20 billion compared with $40 billion in an earlier version.

The vote Thursday marked a step forward, as rival blocs in parliament agreed to push through a budget that is badly needed for fiscal planning as Iraq’s finances reel from a plunge in global oil prices and a costly military campaign against Islamic extremists.

Iraq didn’t pass a 2014 budget.

Since December, parliament meetings to approve the 2015 draft budget have been bogged down by debate, mostly over what oil price to base the budget on and how to account for exports from the semiautonomous Kurdistan region.

Prime Minister Haider al-Abadi has said this year’s budget would be an austerity budget, focusing on slashing the bloated public sector and freeing up funds for military spending as Iraqi forces battle Islamic State.

Parliament’s economy and investment committee had initially described the draft as “a budget of punishment for the Iraqi people.” Some committee members criticized the draft—which outlines revenue generation under an oil export deal struck in December between Baghdad and the Kurdistan Regional Government—unfairly benefits the Kurdistan region, “while the rest of Iraq suffers austerity.”

Sunnis in parliament, too, had threatened to boycott the vote because the draft budget didn’t include funding provisions for a national guard—a security force meant to empower Sunnis within the Shiite-led government as it fights Islamic State.

Opening the voting session, parliament speaker Salim al-Jabouri said all disagreements over the budget had been resolved. “Iraqis have been waiting for this for a long time,” Mr. Jabouri said.

—Ali A. Nabhan contributed to this article.

Write to Nour Malas at nour.malas@wsj.com

[SoGrateful]

Call me crazy, but I keep going over and over in my mind.

 

How can they have an approved budget without a valued currency? And reading everything from today, seems like the HCL is done as well with it clearly stating how many barrels per Province.

 

Sounds to me like the HCL & RV have happened.

 

After so many years invested, this is most we have seen. There's no more pieces to the complete puzzle.

[nwrlens]

  That's what I'll do when we receive the final word of this train ride being over.      

 

  Thanks to all for sharing the exciting news.   :soon:Hopefully we will all be off to the bank!  

[Happy1]

I'M Speechless and yet very thankful to Adam, Mods and all for updates.......go rv

[SoGrateful]

On Reuters.com and Wall Street Journal...they posted the Budget is passed. Here's from Reuters...this tells me the HCL IS DONE.

 

The budget seals a financial arrangement between Baghdad and the Kurdish region that will see the Kurds export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from their own fields in return for a 17 percent share of the budget.

 

http://www.reuters.c...N0V86ML20150129

[AJC]

Awesome news... Ever so close now.

[BAKid]

  Thank YOU!!! Off to the bank 

[Laid Back]

BIG JANUARY 2015

[jaker25]

This is great news words cannot express how excited I feel right now. thanks for the updates. great job

[samtx]

Urgent. I feeling the pressure.

[Stubby 1]

Is it True? The HCL is done also.......

[Officiallytook]

On Reuters.com and Wall Street Journal...they posted the Budget is passed. Here's from Reuters...this tells me the HCL IS DONE.

The budget seals a financial arrangement between Baghdad and the Kurdish region that will see the Kurds export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from their own fields in return for a 17 percent share of the budget.

http://www.reuters.c...N0V86ML20150129

[Reverse-Pumper]

Why do they keep saying this is so big and long awaited news for the Iraqi citizens?

 

What difference does it make to them, or anyone for that matter, if their "budgeted" currency is still worthless?

[easy]

Call me crazy, but I keep going over and over in my mind.

 

How can they have an approved budget without a valued currency? And reading everything from today, seems like the HCL is done as well with it clearly stating how many barrels per Province.

 

Sounds to me like the HCL & RV have happened.

 

After so many years invested, this is most we have seen. There's no more pieces to the complete puzzle.

The RV has not happened!

[Sleepy]

I can feel it comin' in the air of the night (In my Phil Collins voice)!

[Texstorm]

Awesome song ! That song has been in my head off and on for months now.....

[Texstorm]

Well I accomplished a half night of sleep, just thinking out loud but I would imagine that the daily auctions would cease to exist if Iraq was intending to dramatically raise the value of the dinar. Otherwise they could come out and float the dinar at a gradual rise, while the CBI is making a killing. So I am just as anxious as the rest of y'all to see if they're going to value in their currency. Will they accomplish this through the sale of oil abroad or will the ISX be the key facilitator or may be both. I just don't see it standing still like Vietnam they got way too many resources for that. I am very happy for them to have accomplish so many major strides in such a short amount of time. And at the same time I hope they know that it was the USA and our proud and glorious soldiers that liberated them from the Devil himself. Lots of lives were given in the name of freedom and democracy and I pray that they prevail so that our soldiers sacrifice was not in vein. May God bless us all !

[Unicorn1204]

I haven't posted on here ever just come in to read everything and all I can say is Thank you Djgbrielie for all the updates I really appreciate everything you do...  It has been a long ride but we are still on the ride until the RV so I say COME ON RV    GOD BLESS EVERYONE!!!!!!!!!!!!!

[Boss hog 1]

Yes, And let's hope and pray that all of the men and Women that gave so much for our freedom that hold the dinar have a nice windfall so they can at least get something in return to help their families. I know of many wounded warriors that have nice stashes of the dinar just waiting for it to go up. Here's to at least 1:1 for our brave Men and Women.

[dayna]

Go RV go!  Thanks Adam for all that you do and al the info you provide us!!