House of Representatives begins next Tuesday the first reading of 2016 budget

[yota691]

House of Representatives begins next Tuesday the first reading of 2016 budget By Mustafa Curran 16 minutes ago

Iraqi parliament building

Roudao - Baghdad

announced the Finance Committee member Masood Haider, said on Sunday that the House of Representatives will start on Tuesday the first reading of the budget next year 2016. Haider said the network Roudao media that "the House of Representatives will begin next Tuesday the first reading of the general budget for 2016". He also " The work of the Iraqi Council of Representatives agenda will include the first reading of the draft federal budget for 2016 Act. " He pointed out that despite the death of Chairman of the Finance Committee Ahmad Chalabi significantly affected, but should not be Atakar project his balance the state more than the piece. And the presidency of the Finance Committee went on MP for the mass change and member of the Finance Committee Masood Haider "The presidency of the Commission is currently managed by the Deputy Chairman of the Committee Ahmad electrodes. "He died Chairman of the Finance Committee in the Iraqi Council of Representatives Ahmad Chalabi on Tuesday 10/11/2015 after a heart attack. mentions that the Ministry of Finance announced, the middle of the month of September, presented a draft 2016 budget law to the Council of Ministers, noting that the budget formulation building has to reduce public expenditures and to combat waste and extravagance in state revenues and diversify sources of income in the country.

 

[TexasMike1958]

In the words of the American philosopher Tony the Tiger,   This is "GRRRRRRRRRRRRREAT"!!!!                     

Edited November 8, 2015 by TexasMike1958

[WheresmyRV?]

Great news!!

[TLHUBER]

If the HCL is in the budget, read on.

[idplzr]

Speed reading should work

[Candy01]

I believe the HCL IS in the 2016 budget!!

 

FANTASTIC news!!!!!!!

 

:bravo:

[10 YEARS LATER]

I wonder how long they intend on kicking this around . . . or . . . are they going to get after it, read it, pass it & publish it in short order.

 

They could surprise us, however, kicking it around for a while seems more likely. C'mon Iraq - prove me wrong, for once.

[siberian_shaddow]

Much appreciated Yota, let's see if they can get through this and pass the budget without rewriting it over and over and hopefully the Kurds are on the same page as them. Come on Iraq no sandal throwing this week get a long and get it done.

[tigergorzow]

The KRG delegation visited Baghdad for a reason and that was to agree on the HCA in the 2016 budget. Both the GOI & KRG know the Oil & Gas Law will solve all problems for the provinces and benefit all Iraqi people. We are getting cloaer!!

Edited November 8, 2015 by tigergorzow

[securityguy]

I wonder if the HCA is approved rather than the passing of the HCL, they can operate like that for an extended time. Something to ask Adam I guess.

[jcfrag]

Are you saying they are putting the HCA or HCL in the budget?

[Laid Back]

Get it done guys, no time to waste. 2016 is around the corner.!

Budget

HCL

Other important laws

Security

Maliki

[Jaygo]

They will revalue at some point without the HCL.

[rkp]

Are we sure the oil law is in the budget,I read yesterday that it was not.   TIA rkpdwp

[Jaygo]

Are we sure the oil law is in the budget,I read yesterday that it was not. TIA rkpdwp

No nobody is sure of that. All speculation and hope.

I don't feel we need an RV for a change in value.

If they can change it 4 pips without HCL then they can change it 1600 pips without HCL. Is it a good idea???? Well... nobody but Adabi and Shabibi knows that answer.

[calkid11]

Thank you Yota

[chinadawg]

They will revalue at some point without the HCL.

I agree, if it is not in the budget this time...they go without it...HCL, is for (in) counrty use only, really has nothing to do with international trading and outside investors,and growing the private sectors in mom oil catagories, but would be nice to see it.

I agree, if it is not in the budget this time...they go without it...HCL, is for (in) counrty use only, really has nothing to do with international trading and outside investors,and growing the private sectors in nom oil catagories, but would be nice to see it.

[sandfly]

THANKS SOON

[yota691]

Urgent parliamentary ..almalah: 2016 budget on the agenda of tomorrow's meeting of the country and mortgage borrowing for the sovereignty of Iraq

November 9, 2015

 

 

 

 

Our economy / Baghdad

A member of the Finance Committee MP Masood Haider, said on Monday that the House of Representatives session for tomorrow will include a discussion of the federal budget for 2016.

And the deputy Haider in the mass change, a member of the parliamentary in a statement to the agency, "our economy" news, "The parliament session agenda for tomorrow will include the first reading of the budget of the Federal 2016".

He said he "was assigned to deputies of the Finance Committee to oversee the sub-committees of the ministries and independent institutions and other study their budgets."

He said a member of the Finance Committee that "the absence of Chairman of the Committee of the late Ahmad Chalabi will leave a huge vacuum," noting that "we will lose the hallmarks of Chalabi because of its experience in this aspect."

He pointed out that "the Commission has many objections to the budget in terms of revenue and loans," returned "to borrow from Qatari banks is subject to the sovereignty of Iraq to Qatar by Prime Minister Haider al-Abadi."

The parliamentary Finance Committee announced, earlier this November the arrival of draft financial budget law for 2016 to the Presidency of the Council of Representatives, after being approved by the Council of Ministers, in October 18, 2015, total expenses amounting to 106 trillion dinars and a projected deficit of almost 23 trillion dinars.

[yota691]

World Bank imposes 11% as the rate of interest on borrowed money 

News Source:Ali Abd al-Salman

 

 

November 8, 2015 6:29

 

Readers Number:25

 

 

 

.rf Government support for the ration card items and the prices of oil derivatives

 

Stressed the economic and investment commission in Parliament member Abdul-Salam al-Maliki, the imposition of proportion (11%) on borrowed money to Iraq, adding that "this borrowing of additional debt Sakpl Iraq." Maliki said: the budget of the government at present size is estimated at 106 trillion deficit estimated (23-24) trillion Iraqi dinars, because the Iraqi government showed the budget based on $ 45 per barrel compared to 3.6 million barrels, and this is of great returns on the development of country, considering that the low and high prices affect the market situation and the budget. Added: Today Iraq is in the current budget promising investment budget, and this budget will not be feasible through the 2016 budget, considering that the investment budget that allocated funds are estimated at (29-30) trillion Iraqi dinars, and this pay accrued debt to foreign companies, and therefore we need to activate other sectors, as well as much of the things that concerned, including the collection of fees and revenues, taxes and customs tariffs, opening the door for investment government. He said al-Maliki, saying: "The government is trying to look for new outlets rather than oil, but if we relied solely on external borrowing will cause a major economic crisis in the country as interest levied on borrowing funds rate is estimated at 11%, and this Iraq Sakpl extra debt. This parliamentary finance committee and confirmed, they are waiting for the outcome of the talks between the Governments of the region and the Centre on the oil agreement because it represents the president in a detailed discussion of the draft 2016 budget law. The Finance Committee of the House of Representatives member Ahmed flesh, that the Iraqi government had made earlier at the request of the World Bank for a soft loan, to overcome the financial crisis experienced by the country, "pointing out that" the World Bank has sent advisers to the State Audit, and assessing the financial situation In which" . He added: "After brief the UN team offers a set of recommendations to the Iraqi government make clear reforms on salaries that exceed 70% of the country's total revenue, and drain all the capabilities of the Malian government, as well as the lifting of government subsidies for food in the ration card items, and also the removal of subsidies on the prices of fuel and oil derivatives. " And between a member of the Finance Committee that "the government Abadi tried to avoid these steps initially, but the deterioration of the financial situation, and lower revenues recently paid for admission to undertake reforms, and so began the first procedure, a so-called ladder new salary, which is among the deep financial reforms that will pack approval in the coming days. " According to the draft budget that the total expenditure of more than 113 trillion dinars, which is low by about six trillion dinars from the budget last year, which was 119 trillion dinars The 2016 budget deficit ratio stood at 26.5%, or about 30 trillion Danar.mn its part, called on the Commission on oil and energy parliamentary, to studied plan to avoid the crises caused by the fluctuation of oil prices and the fall. The committee member said Kawa Muhammad that "the increase in oil exports, and to work according to a deliberate plan contributes significantly to reducing the fiscal deficit in the public budget," pointing out that "oil exports and the price of oil affect directly on the Iraqi economy, which is fully dependent on oil." He noted that "the general budget for the current year was built on the basis of export 3 million barrels per day, while the general budget for 2016, was built on the basis of export 3.06 million barrels per day to avoid the negative effects caused by price drop that."

Read more: http://dinarvets.com/forums/index.php?/topic/211032-world-bank-imposes-11-as-the-rate-of-interest-on-borrowed-money/#ixzz3qzXtut1d

[yota691]

 

 

Iraqi parliament session

Parliamentary Finance: some paragraphs of the budget is clear and surprising seeking to borrow $ 14 billion

 

Author: ZJ 
Editor: BK, HH 2015/11/09 16:06 Number of Views: 105 
 

 

Long-Presse / Baghdad

The member of the Finance Committee, parliamentary, on Monday, that the total next budget in 2016 of 106 trillion dinars allocated of which 29 trillion of the aspects of investment and 76 for operating, indicating that the deficit value of 22 trillion dinars, while counting another member it includes several paragraphs "is obvious "that need detailed discussions with the government, Kt_khasisat displaced people and the popular crowd and the Peshmerga oil and file with the Kurdistan region, surprising from Iraq sought to borrow more than $ 14 billion to close the deficit, despite not being able to borrow one billion only during the current year.

The committee member said Haitham al-Jubouri, said in an interview to the (long-Presse), said that "the total amount in the next 2016 budget, is 106 trillion and 256 billion dinars, go, including 29 trillion budget investment and other 76 operational, a deficit of 22 trillion dinars."

He said al-Jubouri, that "the budget calculated on the basis of oil price protect me of $ 45 a barrel, and the rate of production of three million and 600 thousand barrels per day, of which 550 thousand barrels of the Kurdistan region's oil," noting that "the budget estimates total revenue for Iraq B69 trillion dinars, 13 trillion of which non-oil imports. "

And on the doors of the investment budget Exchange, said a member of the Parliamentary Finance Committee, that "13 trillion of which was allocated to oil projects, and three other electricity projects," noting that "one trillion and 750 billion dinars allocated to the provinces," without doors and other exchange addressed.

For his part, another member of the Parliamentary Finance Committee, that the budget bill includes loans "fictional" in excess of $ 14 billion to close the deficit, as well as many of the "non-obvious" items requiring detailed discussion with the government.

Said Masood Haider, in an interview to the (long-Presse), "The draft 2016 budget law will resort Iraq to borrow 14 billion and $ 500 million, to fill the existing deficits," he returned as "imaginary, especially that Iraq could not borrow a billion dollars in the current 2015 , how it will borrow a large amount, "

He stressed Haider, on the need for "a detailed discussion with the government on that loan, and many other non-obvious items that do not know on what basis specified amounts, such as displaced allocations, and the crowd popular and the Peshmerga, as well as the oil file with the Kurdistan region."

And was a member of the Parliamentary Finance Committee, Haitham al-Jubouri, said in his own social networking site (Facebook), that the draft budget law includes several paragraphs that make up the "laughing on the chins" Kt_khasisat support crop of wheat and rice, and the pension fund of state employees, and the crowd popular.

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

[Freedomwish]

Well.....here's to looking forward on Adam's chat this Wednesday.  Yup.