To the citizens of Iraqi Kurdistan: Get ready for 2016

[SocalDinar]

To the citizens of Iraqi Kurdistan: Get ready for 2016

http://ekurd.net/kurdistan-get-ready-for-2016-2015-12-28

December 28, 2015by Editorial Staff in Politics, Corruption

Photo: Ekurd.net/NRT/photoxpress

Dr. Bayad Jamal Ali | Nalia TV

The past 2 years have been rather problematic and faced many challenges in Kurdistan from fighting ISIS, issue of liquidity, delays in public employees’ salaries, bankruptcy of many companies, lack of electricity and mismanagement of water which was discussed in ” The Wasted Treasure”, not being able to accuse one official for corruption, drop in oil prices which was discussed in ” The Dilemma of Kurdistan’s Black Gold “, political issues of Tuz Khormato which was discussed in a previous article ” The Players Behind the Curtain “, lack of transparency in Kurdish oil exports and its role in the economy which was discussed in ” Kurdistan’s Dutch Disease “, fragile food security which was discussed in ” Pity The Nation That Eats A Bread It Doesn’t Harvest”, shutting down the parliament and several ministries, thousands of students not able to apply for university which was discussed in “The Vicious Cycle of Kurdistan’s Education”, the loss of lives of thousands of Peshmerga (Kurdish Soldiers) on behalf of the world fight against terrorism, the lack of leadership vision which was discussed in ” Kurdistan’s Leadership Vision for 2021 “, to the immigration of Kurdish youth along with the resources of a successful economy was discussed in “Kurdistan’s Economy and its Shortfalls “.

So the question to ask here is, what is 2016 is going to be like?

 

First thing to make clear is 2016 Iraqi budget which was just approved in December 2015, and the Kurdish members of Iraqi parliament celebrated that they managed to get the approval of the 17% of Kurdistan’s share. It is important to note that the total Iraqi budget of 2016 is $65 billion US dollars based on the current exchange rate in compare to $150 billion dollars in previous years, and in order to reach that number 20-25 billion dollars will be borrowed, estimating that oil is sold by $45 USD, which will not happen because the current prices is fluctuating between $30-$40 and is expected to drop more because of the surplus in oil market supply which is more than 3 million barrels per day.

Moreover, it is clearly written in the approved 2016 budget that Kurdistan should give Baghdad 550,000 barrels per day (which everyone knows that will not happen) and also to send the budget Iraqi Prime minister needs to sign the release, which previously the ministry of finance could transfer the money without that, not forgetting that due to the oil revenue issues Baghdad stopped sending the medical supplies to Kurdistan which was not considered in the 17% but an extra support, and that stopped also of you wonder why there is a lack of drugs in the hospitals. So I wonder what the Kurdish Members of Iraqi Parliament were celebrating for!!

Hence, in 2016 Kurdistan Government is the one in charge in finding revenue to run the government and the economy. Taking into consideration that the Kurdistan Regional Government is owed 21 billion dollars (that we know of), and in light of the oil prices that reached a new low to $34 and all studies show that it will decrease more and would need at least a decade or two to raise back to the old prices, and oil market illustrated above along with the loss of 2 billion dollars in Dana Gas Law suit and being in court now for another 11 billion dollars according to dana gas claims, and with the excess supply in oil from all oil producing countries who will buy the legally problematic Kurdish oil!

The delay in public employees’ salaries will remain, demand will drop and more businesses will go bankrupt, unemployment rate will hike, investment projects will stop, government will decrease salaries and downsize personnel, crime rate may increase, and the economy will shrink severely.

So for 2016 people shouldn’t blame Baghdad government, but actually should hold Kurdistan Regional Government accountable (all political parties included), and do ask where has the money been going all these years, and who are the people that are planning for Kurdistan’s economy that are celebrating and giving hope to the Kurdish citizens on false pretenses? How a country could be ran without clear economic policies, fiscal policies, and monetary policies? Democracy is not just voting, it is transparency, respecting public opinion, being accountable for misconduct, rule of law, social justice, and many more.

[haymon]

Nice.

[DinarDavo]

The last paragraph has a universal application.

[WheresmyRV?]

Things that make you go hmmmm.

[sxsess]

Transparency, respecting public opinion, accountability, rule of law, justice. Wow that sounds like what we do here. We set such a great example. I hope they can do a 180° from what takes place here!

[Laid Back]

They got what they want from the federal government, 17% profits sharing.

Go Iraq United.!!

Go 2016

[blueskyline]

I would like to hope they mean Get Ready for... January 1st... 2016

[ChuckFinley]

Transparency, respecting public opinion, accountability, rule of law, justice. Wow that sounds like what we do here. We set such a great example. I hope they can do a 180° from what takes place here!

I hope so. It has been a disaster here. I feel for every generation moving forward in this country.

[bohica]

This thing has been so much like a church board of a lot of talk but no real action that I do not get excited.  I am just hoping this year to be able to go to the bank and have my sweetie retire.  

[10 YEARS LATER]

This thing has been so much like a church board of a lot of talk but no real action that I do not get excited.  I am just hoping this year to be able to go to the bank and have my sweetie retire.  

I'm with you on this . . . for 12 years now I've been getting dragged thru the weeds with this GIG. Oh, I never had a doubt they would RV. In the beginning we thought perhaps 3 to 6 yrs.

 

We know Abadi is kicking butt and Iraq is moving forward, finally, no thanks to Maliki. If that Pin Head had done right by his country, we wouldn't be having this chat. Oh well, it is what it is. 

 

It would be great if they could move in from the 2 Yard line and into the End Zone for a TD and SPIKE the Ball !! Meantime, I gotta go out and buy another    Waiting for the RV with measured and guarded optimism.

Edited December 28, 2015 by 10 YEARS LATER

[10 YEARS LATER]

The last paragraph has a universal application.

Yes this does . . . unfortunately the ( Obama ) Administration has absolutely no interest whatsoever nor do they hold any notion to adhere to such foolish notions. 

I would like to hope they mean Get Ready for... January 1st... 2016

 . . . and the RV that comes with it !     - - - maybe on the 3rd of January. 

[skeetdog]

Thanks SD...This article has a lot of merit... but, it defiantly has a negative notation...It mirrors all the negative aspects associated with the subject matter, then again it doesn't play into account that what's happening is happening in the ME with a country that plays by the oil producing rules of survival....Which is the TPTB have had a lot of assets riding on this country for a while and the world finance situation is looking for merging countries to help the situation...They may know something we're not privileged know...Go 2016...    

[sandfly]

LET'S SEE WHAT IT HAS FOR EVERY ONE