Council of Ministers approved the 2016 budget

[yota691]

Urgent Council of Ministers approved the 2016 budget

History of edits:: 2015/10/18 17:31 • 32 visits readable

[baghdad-where] 
the Council of Ministers approved at its special session, on Sunday, the draft budget for fiscal 2016..itba law

 

 

 

Urgent source for [where]: 2016 budget of $ 106 trillion dinars

History of edits:: 2015/10/18 17:44 • 8 visits readable

[baghdad-where] 
informed source revealed that the amount of the financial budget for the coming year 2016 of 106 trillion dinars.

The source told all of Iraq [where] that "the amount of the deficit amounted to 23 trillion dinars," followed ..

[EagleEye]

Am I wrong or is this the VERY FIRST time the budget is done before year end ???   WOW !!!

[yota691]

This Budget is smaller compared to 2015 = 119 trillion Iraqi dinars (US$105 billion)

[jg1]

Nice find. yes. HCL in it?

[yota691]

 

 

Iraqi Council of Ministers session

Council of Ministers approved the 2016 budget

 

Author: HH 
Editor: HH 2015/10/18 17:32 Number of Views: 329 
 

 

Long-Presse / Baghdad 

Iraqi Council of Ministers approved, on Sunday, the financial budget for the coming year 2016, B113 trillion Iraqi dinars and a deficit of 30 trillion dinars.

Information Office of the Prime Minister Haider al-Abadi said in a statement received by, the (long-Presse), a copy of which, "The Council of Ministers approved during a special meeting held today, draft financial budget law for next year 2016".

The size of the budget year 2016, about 113 trillion Iraqi dinars and a deficit of 30 trillion dinars, while the size of the budget for the current financial year 2015.119 trillion dinars and a deficit of $ 25 trillion. 

The Finance Committee of the House of Representatives suggested in, the seventh of October 2015, the arrival of the federal budget for 2016 to Parliament after three days, and pointed out that the deficit up to 29 trillion dinars and several "very large", as he pointed to the operating budget is 30 trillion dinars.

It is noteworthy that the Ministry of Finance, announced on the 15th of September 2015, for the provision of public financial budget for next year 2016, the Council of Ministers, while confirming that the formulation has been lowering overhead and struggling waste in state revenues and diversify sources of national income. 

Aajl..cil of Ministers approved the 2016 budget of $ 107 trillion dinars

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Number of Views: 41 | 18-10-2015 05:57 PM

10/18/2015 15:16 GMT

  Council of Ministers approved the budget next year at $ 106 trillion and a deficit of 23 Trliuna

 Follow-up - and babysit -said a ministerial source said the budget next year, voted on by the Council of Ministers reached 106 trillion dinars.

 

The source said today, "The Council of Ministers voted on the draft general budget bill for next year at $ 106 trillion dinars, and a deficit estimated with 23 Trliuna".

The Ministry of Finance estimated the average price of oil in the 2016 budget to $ 45, and the export of 3.6 million barrels per day, as pointed out that budget revenues will amount to more than 84 thousand trillion and 73 billion dinars.

[Laid Back]

With Abadi as a PM Iraq is moving in the right direction.

BIG step forward >>>

Our time will come, we patiently wait.

Go Iraq

Go Abadi

Go reforms

Go budget

Go important laws

Go CBI

Go monetary reform

[SnowGlobe7]

This Budget is smaller compared to 2015 = 119 trillion Iraqi dinars (US$105 billion)

 

 

Yea he has eliminated that much corruption and "ghost" payments IMO

[calkid11]

Thank you Yota

[Officiallytook]

Yea he has eliminated that much corruption and "ghost" payments IMO

Exactly my thoughts snow

[10 YEARS LATER]

 deficit estimated @ 23 Trliuna? Making head spin now; what is a Trliuna ?

[chris2028]

Thanks Yota!!

 

I may be the only one who does this, when it comes to these financial articles. But I instantly do a comparison to anything dealing with Kuwait in respect to Iraq. So of course I went ahead and looked up the 2015 budget for Kuwait and what their numbers looked like to give me an idea of what Iraq might be basing their numbers on. So Kuwait's 2015 Budget was $19.17 Billion Dinars( Roughly $63 Billion USD) They had a deficit of $8.18 dinars (27.Billion USD) So looking at this and seeing that Iraq put out that they will need Trillions for their budget, may give me/us an Idea on what they are using as their rate etc. I may be way outside the lines but I'm thinking they are basing all of this off of a 1:1 rate may be more in the future but there is no way they could get completely out of the hole at this low of a exchange rate and compete with smaller countries like Kuwait. 

 

Here is the link to their budget just for a reference. http://www.reuters.com/article/2015/07/01/kuwait-budget-idUSL8N0ZH4NG20150701

[yota691]

Government recognizes the budget in record time

 

 

         

10/19/2015 0:00 

¶ 601 trillion dinars budget estimates a deficit of 32 Trliuna ¶ install contracts and the allocation of grades four ministries 

increase the lower 30 thousand dinars and reduce the upper 50 Alpha 

Baghdad morning   

for the first time several years ago, the government agreed to the draft general budget bill early and before the end of the year by about two months and a half months, which promise a Observers b »is an important achievement», will push the wheel of development forward in the event of quick parliament approval by. 

However willing the Council of Ministers to implement the new salary scale law immediately after all the implementation mechanisms, revealed a representative for {the morning sources} with the direction of Parliament to discuss Almqublh.othblg law during hearings next year's budget 106 trillion dinars a deficit estimated at 23 trillion Danar.ujaet to approve the budget bill in an extraordinary session of the Council of Ministers held on Sunday afternoon. 

The past years have seen delays in the approval of public budgets, as some of them were sent to Parliament before the end of the year or the beginning of the fiscal year Aljdidh.obhsp senior government official »Sabah» the budget estimated by the Ministry of Finance to adopt oil price rate of $ 45 per barrel by the export of 3.6 million barrels per day, and the overall revenue of more than 84 thousand trillion and 73 billion economic Danar.almschar prime minister appearance of Mohammed Saleh said »Sabah» For his part, near refer the draft budget law of 2016 to the parliament for a vote in the coming sessions. 

parliament, confirmed the MP Najiba Najib said the «most of the contract employees will be proofed through 2016, but it showed the inability to install all of the lack of grades adequate for it, while suggesting the allocation of functional degrees for four ministries. 

financially as well, said Finance Committee member Haitham al-Jubouri »Sabah», Salaries nominal minimum grades in the salary scale increased by 30 thousand dinars , when the Supreme cut by 50 thousand Danar.odaa Jubouri government to draft a bill for the salary scale and send it to the House of Representatives for a vote, especially as the government canceled the vertebrae are not valid, as he put it in.

[chris2028]

With Abadi as a PM Iraq is moving in the right direction.

BIG step forward >>>

Our time will come, we patiently wait.

Go Iraq

Go Abadi

Go reforms

Go budget

Go important laws

Go CBI

Go monetary reform

Abadi cleaned house, and amazingly they are passing laws faster than ever! These guys are getting it done! 

[Wiljor]

Nice find as always Yota, you are one fine Jedi Master for sure and may the force continue to be with you.

As Adam has always said, no HCL, no RV. Now for gods sake, is the HCL built into this budget? Or has it already been done but not officially?

We patiently wait....

[Officiallytook]

Not sure wiljor but certainly something is a mist....

If you guys would kindly check www.oanda.com select proper currencies, and notice the trends, with the news we were getting...just saying, suddenly is upon us.

[ComPLX]

Officially, I see the logic. We wait patiently

[Theseus]

Nice find. yes. HCL in it?

Have to pass the HCL before the HCL can be put into the budget and since the HCL has not been passed, more than likely it is not in the budget. The HCL is Iraq's Oil and Gas Law - which is to be addressed separately from the budget. Until the finalized version of this bill is passed, don't look for it in the budget. Just keep and eye on anything to do with the Oil and Gas Law. Any shenanigans with the Kurds that appeal to an agreement is just that an agreement and not the HCL nor is it an Oil and Gas Law unless specified otherwise. The reason is simple, Iraq has other oil producing regions whilst the Kurds control a majority. When all these oil producing regions have an agreement and an agreement is made with ALL the citizens of Iraq, then and only then will the Oil and Gas Law be passed. Please lets not repeat earlier this year and be blind to what constitutes an agreement (HCA) and the Oil and Gas law (HCL).  

It stands to good reason if the HCL does get put into the budget, it will only be what is net after all parties have been paid (Iraqi citizens etc.)

[Officiallytook]

Officially, I see the logic. We wait patiently

Wish I can upload a screen shot but files too big on my phone, but when Abadi started his reforms we have that 30 day period of a pretty steady rate...and now today

[yota691]

 

 

Cabinet meeting on Tuesday (September 1, 2015)

Parliamentary Economy: 2016 budget amounted to 106 trillion dinars, and most of the security sector

 

Author: MK 
Editor: BS, NS 2015/10/19 13:54 Number of Views: 26 
 

 

 

Long-Presse / Baghdad

Committee announced the economy parliamentary and investment, on Monday, that the financial budget for next year 2016, amounted to 106 trillion Iraqi dinars and a deficit of 23 trillion dinars, and as pointed out that most of them devoted to the security sector, revealed the existence of a large austerity this budget.

A member of Najiba Najib Economic Commission during a press conference held in the parliament building, attended by (range Press), that "the total budget, which is voted on by the Council of Ministers, yesterday size, reached 106 trillion Iraqi dinars and a deficit of 23 trillion dinars," indicating that "the projected income from oil sales are 84 trillion ceiling export 3.6 million barrels per day with the price of a barrel is calculated on the basis of $ 45 per barrel. "

Najib said, that "this budget differs from previous budgets where large austerity and specialization of the security sector was big," pointing to "an increase in non-oil revenues over the past years because the state has tried to re-examine the tax system."

The Iraqi Council of Ministers approved, on Sunday (the 19th of October 2015), the financial budget for the coming year 2016, B113 trillion Iraqi dinars and a deficit of 30 trillion dinars.

The Finance Committee of the House of Representatives suggested in, the seventh of October 2015, the arrival of the federal budget for 2016 to Parliament after three days, and pointed out that the deficit up to 29 trillion dinars and several "very large", as he pointed to the operating budget is 30 trillion dinars.

It is noteworthy that the Ministry of Finance, announced on the 15th of September 2015, for the provision of public financial budget for next year 2016, the Council of Ministers, while confirming that the formulation has been lowering overhead and struggling waste in state revenues and diversify sources of national income.

 

[sandfly]

THANKS

[yota691]

Kurdish lawmaker: A delegation from the region to visit Baghdad next week to discuss the 2016 budget

History of edits:: 2015/10/19 13:53 • 9 visits readable

[baghdad-where] 
deputy for the coalition of Kurdish blocs close up visit for a delegation from the Kurdistan Regional Government to Baghdad next week revealed.

The MP said Kawa Muhammad told all of Iraq [where] "is expected to visit a delegation from the Kurdistan Regional Government headed by Nechirvan Barzani [head of government] to Baghdad next week to discuss the region's share of the budget in 2016 after approval yesterday in the Council of Ministers." 
The Council of Ministers approved at its extraordinary Sunday, the draft federal budget for fiscal year 2016 Act, in the amount of 106 trillion dinars, and the deficit is estimated with 23 Trliuna a rate of 21.69% of the total budget. 
The Ministry of Finance estimated the price of oil rate in the 2016 budget to $ 45, and exported 3.6 million barrels per day, as pointed out that budget revenues will amount to more than 84 thousand trillion and 73 billion dinars. 
Detection and Culture and Tourism Minister Faryad Roandzi yesterday [which belongs to the Kurdish nationalist] for the allocation of 12 trillion and 600 billion dinars as a share of the Kurdistan region in the budget, "referring to the" Install share the province's 17 percent in the new budget, as opposed to be issued per day 550 000 barrels of oil province across SOMO by the oil agreement. 
"He called Roandzi" delegation provincial government to speed up to go to Baghdad in order to sign a new agreement to ensure the region's share in the budget of 2016 ".anthy

Read more: http://dinarvets.com/forums/index.php?/topic/209822-kurdish-lawmaker-a-delegation-from-the-region-to-visit-baghdad-next-week-to-discuss-the-2016-budget/#ixzz3p0jMGTTu

[yota691]

Parliamentary Finance: We need 30 days to approve the 2016 budget

02:44: 10/19/2015

 

Khandan - The parliamentary Finance Committee, the House of Representatives needs a month to finalize the federal and approve the budget discussions before the end of the current legislative term. The committee member said Abdul Qader Mohammed, he said that "the Committee needed to 3 weeks for the completion of discussions the federal budget for 2016 and a week of law to be put in House of Representatives for a vote, "adding that" the Council end of approving the budget within one month after receiving him that there were no major objections."explained Mohammed that" the figures contained in the budget bill after lowering the draft figures by the Council of Ministers is acceptable and appropriate to the current situation the selling prices of oil in the world markets. "The cabinet approved on Sunday, the federal budget for 2016 project at $ 106 trillion Iraqi dinars, the equivalent (90.9 billion) and a deficit of 23 trillion dinars, the equivalent of ($ 19.7 billion). (IMN)

Read more: http://dinarvets.com/forums/index.php?/topic/209834-parliamentary-finance-we-need-30-days-to-approve-the-2016-budget/#ixzz3p0yZETkA

[yota691]

Kurdistan Region's share of the financial going forward to 2016 is no different from 2015By Mustafa Curran one hour ago

Cabinet voted on Sunday in its financial budget for 2016 project

Roudao - Baghdad MP House of Representatives and member of the Finance Committee, Sarhan Ahmad, said the Kurdistan Region's share of the budget in 2016 will be 17%, which is the same ratio for 2015 expected to resolve differences between Baghdad and Erbil to settle the outstanding issues between the two problems. He spoke Ahmed network Roudao media, "Council Representatives will discuss the financial budget for 2016 within its scheduled next week. " He explained that the cabinet voted on Sunday on a project going forward is scheduled to be sent to the House of Representatives in the coming days. On the share of the Kurdistan Region of budget 2016 Ahmed said that "the budget that in 2016 is estimated at 106 trillion Iraqi dinars, while the share of the Kurdistan region will reach 17 percent." It is hopefully visiting government delegation from the Kurdistan region to Baghdad to resolve the outstanding agreements problems between the two sides, noting that Almedh lies in the implementation of the agreement. and the importance of the 2016 budget for the Kurdistan Region Member of the Finance Committee Sarhan Ahmad said that "the province of Kurdistan is part of Iraq and the consequent financial budget for 2016 in Iraq will have repercussions within the province of Kurdistan. " Considering sending dues Kurdistan Region by the central government will end the differences between Baghdad and Erbil.

[yota691]

 

Cabinet meeting on Tuesday (September 1, 2015)

Finance Committee: the pay scale differences trimmed to 25% and will face Abadi outrage

 

Author: 
Editor: 10/19/2015 21:05 Number of Views: 2050 
 

 

 

 

Long-Presse / Baghdad

The government was able in an extraordinary session, on Sunday, reducing the deficit in the budget next year ahead of 6 trillion dinars what came in the draft submitted by the Ministry of Finance last week's text.

The government trimmed at its extraordinary investment budget by about 7 trillion dinars total budget to be 106 trillion dinars instead of 113.

This comes in what is expected that the new salary scale controversial provides about 50 billion dinars by reducing the nominal salary of the staff, is expected to result in reduction of "additional provisions" of the salaries of doubling revenues.

The government has acknowledged, this week, the draft federal budget for fiscal year 2016 Act and sent to the House of Representatives.

He said Abadi, that "the general budget and the details that have been approved accurate and realistic and take into account the financial revenues of oil and non-oil forecast for 2016 and secure the salaries and wages of civil servants and the armed and security forces and the popular crowd items in addition to the reinforcement necessary to meet the terrorist Daash gangs."

He said al-Abadi, in a government statement to his press office, "The 2016 budget included securing the necessary funds for retirees and covered by social welfare allocations and support farmers and crops of wheat and rice."

And it approved a federal budget value of 106 trillion dinars, the adoption rate of $ 45 per barrel of oil, and by the export of 3.6 million barrels per day. While the parliamentary finance committee says that Iraq has not yet reached that level of oil exports because of the crisis with Kurdistan.

 

Reduction in 2016 budget

MP says Hossam punitive, member of the Finance Committee in connection with the (range), that "the government reduced the 2016 budget of 113 trillion dinars to 106 trillion dinars by reducing investment going forward than 30 trillion dinars to 23 trillion dinars."

He added that the punitive "has become the operating budget 83 trillion dinars, while the new draft devoid of mention of the functions except McCann provided for in the previous budget."

The 2015 budget allocated to the Ministry of Defence 10 thousand degrees and careers, and that punitive likely be launched next year.

And it refers MP for the Liberal bloc that "the reduction of the investment budget has resulted in a reduction in the planned budget deficit in 2016 of 29 to 26 trillion dinars."

On the other hand the government may be unable to fulfill the export of oil the size you specified in the budget of 3.6 million barrels a day, so as not to end the crisis with Kurdistan.

In the opinion of the Finance Committee member, he said "not to fulfill the two parties to the Convention may not achieve a significant increase from the current size of the export of oil, which did not exceed 3.3 million barrels per day."

 

Surplus him new salary

The Finance Committee and is waiting for the arrival of the draft budget to make some adjustments, transfers, hosting officials of the Ministries of Finance and oil to discuss its terms.

Parliament is also expected the government to send all private oil and non-oil revenues details, and retained the money from last year until the month of October now, to know the size of the spending and revenue that Stthak in 2016.

Conversely punitive expects that "the new salary scale provides a financial surplus of $ 50 billion dinars a year of nominal salaries," but he is likely to "meet the extra large sums of reducing allocations."

The prime minister Haider al-Abadi said Sunday that "the new peace of salaries is in order that there be social justice and reduce disparities between the upper and lower grades."

He said Abadi, it is not inconceivable that certain great privileges given a slice is doing is not commensurate with the size of these provisions so we can be with a fair salary.

Reducing disparities to 25%

Meanwhile Sarhan Ahmed Sarhan, the other member of the Finance Committee, said that "the government is committed to the dates for the submission of the budget to parliament has been delayed about 10 days from the timing sent to parliament," he said, adding that "it is supposed to provide the budget early October now which It forced the government to approve an extraordinary session. "

It is expected Sarhan, during an interview for the (long), that "al-Abadi facing outrage because of the new salary scale," adding that "the prime minister will face difficulty in achieving what he wants from the final decision."

Explains a member of the Finance Committee that the "blessings of the new salary has reduced the ratio between staff Alforac to 25% instead of 300% as it was before."

Some of the details of the salary scale has been leaked a few days ago, said the new peace to give allocations to the Ministry of oil and electricity by 30% is given to all employees except the ministry's headquarters and the Office of the Inspector and the headquarters of the ministry companies. Also granted the Justice Department the power to Add 150 000 dinars investigators Aladliyn exclusively, and 400 000 workers in the prisons.

And allocated him the new salary amount of 150 000 dinars cut the Ministry of Education and Islamic Education in the Shiite and Sunni Endowments. The Ministry of Higher Education also gave allocations increased by 100% and 75% professor assistant professor, 50% and 25% to the teacher assistant, and the faculties of Imam Kadhim and Imam Azam and scientific complex.

It singled out the decision of the Ministry of Labour allocations amounting to 150 000 dinars to the researchers, social and labor inspectors exclusively, as well as the salary scale pointed to grant geometric allocations by 50% of the nominal salary for practicing engineers in the project sites, and 35% of employees in departments headquarters for engineers. It all adds up to a fixed allotment (certificate, marriage and children, transportation).

Mn..oail grace

[MillieChatham]

HCL. Wait, wait, wait, wait....