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

[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)

 

[sandfly]

THANKS

[yota691]

Photograph: Ali Gharbaoui

A member of the parliamentary Finance: We need 30 days to approve the 2016 budget

Author: Publisheron:

 

October 19, 2015

In: economy

BAGHDAD / Center Brief for the Iraqi Media Network (IMN) - in the parliamentary finance committee member, said Monday that the House of Representatives needs a month for the completion of the federal budget debate and approval before the end of the current legislative term.

Said committee member Abdul Qader Mohammed's (IMN), that "the Commission need to 3 weeks for the completion of discussions the federal budget for 2016 and a week to put in the 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 significant objections. "

Mohammed said that "the figures contained in the budget law after reducing the numbers of the draft before the Council of Ministers is acceptable and appropriate to the current situation on the sale of oil prices in the global markets."

The cabinet approved yesterday, 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).

[TLHUBER]

I thought it was approved already. Wasn't their an article out just yesterday stating the 2016 budget was approved?

[yota691]

I thought it was approved already. Wasn't their an article out just yesterday stating the 2016 budget was approved?

It is approved threw the Council of Minsters, now it proceeds to Finance for oversight, then it could be move back to the Council of Minsters for amendments by the Finance committee...or proceed to be presented to the House of Representatives for a vote.....

[captl1]

The problem is which 30 days are the taking

[MyLadiesDaddy]

I am beginning to understand why Adam has always said that the Budget was 

 

not relevant  to an RV. Books are books and can be restructured as necessary,

 

however, for loans that requires something more than just rearranging the numbers.

 

 Researcher warns the central bank to keep its funding from retail

Read more: http://dinarvets.com/forums/index.php?/topic/206716-central-bank-puts-the-finishing-touches-to-lend-to-five-trillion-dinars-mechanisms/page-3#ixzz3p1HagXJg

 

There is a reason that the CBI is being warned to keep it's funding promises for the commodities markets. 

 

And there is a reason that the, "new salaries schedule", is being delayed. Not to mention that some MPs 

 

​are now demanding that it be implemented. These things are in direct correlation to any possible RV. 

 

They are only going to need to be adjusted, "IF", there was an RV.    

[djiboutikid]

I am beginning to understand why Adam has always said that the Budget was 

 

not relevant  to an RV. Books are books and can be restructured as necessary,

 

however, for loans that requires something more than just rearranging the numbers.

 

 Researcher warns the central bank to keep its funding from retail

Read more: http://dinarvets.com/forums/index.php?/topic/206716-central-bank-puts-the-finishing-touches-to-lend-to-five-trillion-dinars-mechanisms/page-3#ixzz3p1HagXJg

 

There is a reason that the CBI is being warned to keep it's funding promises for the commodities markets. 

 

And there is a reason that the, "new salaries schedule", is being delayed. Not to mention that some MPs 

 

​are now demanding that it be implemented. These things are in direct correlation to any possible RV. 

 

They are only going to need to be adjusted, "IF", there was an RV.    

Forgive me LGD, the coffee hasn't quite gotten the synapses firing up to speed. I'm not clear on what these items have in correlation, could you please maybe try a different explanation? Your insight and humor have been invaluable over the last few years. I can see where the budget isn't necessarily important for an RV (even though this one is supposed to include the HCL), but what is the importance of the other points/factors?

[calkid11]

Thank you Yota

[MyLadiesDaddy]

Forgive me LGD, the coffee hasn't quite gotten the synapses firing up to speed. I'm not clear on what these items have in correlation, could you please maybe try a different explanation? Your insight and humor have been invaluable over the last few years. I can see where the budget isn't necessarily important for an RV (even though this one is supposed to include the HCL), but what is the importance of the other points/factors?

Thank you and God bless you my friend. 

 

My synopsis comes from reading and internalizing everything that Adam has said. 

 

It may sound patronizing but there's just something about the way that he puts things that 

 

make one want to trust his knowledge.

 

And over the yrs he has repeatedly stated that the budget was irrelevant to an RV  because the ,"books",

 

could easily be adjusted. All governments have more than one set of budgets, and that actually makes 

 

​sense as the military also does the same thing. However, things like the ,"loans to the Private Banks", 

 

for the purpose of agriculture and private industry is something that,"ONCE GIVEN", cannot be readjusted.

 

A loan is a loan and the value of the currency at the time of the loan is what it is. But imagine giving a loan

 

out with your currency being valued at a much lower rate and then, SUDDENLY, the value of that currency 

 

was much higher than when you issued the loan. Just doesn't work. 

 

Likewise, the new salaries schedule is not in unison with an RV as the CBI has gone to great extremes to 

 

remove large amounts of dinar from the streets. That is why were constantly seeing articles telling us that

 

people aren't getting paid. They don't want to increase the amount of dinar in the streets at this time. Note

 

this article

 

   Deputy warns of bankruptcy of most of the private banks in Baghdad

And if it's that important to keep from issuing more dinar to the streets, then why would they alert everyone 

 

of an impending RV by announcing that the HCL law and other necessary laws were completed?  You wont 

 

see that happen before an RV. Just in America alone the sales of dinar would skyrocket at the sight of the 

 

HCL being passed. 

 

 I hope that helps you my friend.     

[djiboutikid]

Thank you LGD!

I have seen those articles about people not getting paid, I wondered what was up with that, if it was part of a smoke screen or if there was some reason for the "attention."

Thanks for clarifying why the other things were important, I have often thought about the disparity between pre RV and post RV value of the dinar when seeing the stories calling for 400,000 dinar salaries for the public sector employees, etc.. Man, I want to work in their public sector AFTER the RV!

[yota691]

A member of the parliamentary finance: we will discuss the 2016 budget next week

Author: Publisheron:

 

October 20, 2015

In: economy

BAGHDAD / Center Brief for the Iraqi Media Network - (IMN) Parliamentary Legal Committee member Ahmed Sarhan said, that the Commission will take over next week's draft federal budget for the 2016 law to direct the discussion procedures.

He said Ahmed's (IMN) that "the Finance Committee will begin the draft federal budget for 2016 law discussions next week and opens the door to receive the notes of the House of Representatives after reading a first reading in the House of Representatives."

He explained that "the deficit worth 23 trillion dinars in the draft federal budget for next year remains a deficit of planning is not real, and any increase in the sale of oil prices in the global markets for the next year will be enough to cancel the deficit."

And it adopted the 2016 budget on sale to 45 dollars per barrel and export at a rate of 3.5 million barrels per day, while maintaining the oil agreement between Baghdad and Erbil on the proportion of 17% and export B550 thousand barrels of oil per day in the draft budget rate.

[yota691]

10/20/2015 08:40 GMT

  Parliamentary Finance: there is a consensus between the political blocs to pass a budget for next year

 Baghdad and babysit -said the parliamentary Finance Committee member Jabbar Abdul Khaliq, that there is a consensus between the political blocs to pass a budget for next year 2016.

 

Said Abdul Khaliq, in a statement to the news agency public opinion (and babysit), that "the budget in 2016 will be discussed during the next few days to the lack of many details" .lavta to the political blocs that could correspond to be passed after the completion of the read extensively and resolve the difficulties faced. " p / h