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The government borrows 27 trillion dinars for the 2020 budget


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The government borrows 27 trillion dinars for the 2020 budget

 
  Baghdad: Shaima Rasheed
 
A member of the Finance Committee, Jamal Cougar, revealed that the 2020 budget, which is expected to arrive in Parliament, contains the government's request for a loan of 27 trillion dinars, according to the previous draft.
In a statement to Al-Sabah, Cougar stated that "this new borrowing came as a result of the lack of sufficient resources to finance the budget."
It is noteworthy that the representative of the government in Parliament had told the media that the 2020 budget bill was sent to Parliament at the end of this week.
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20-09-2020 08:21 PM
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Baghdad / Al-Akhbariya:
Member of the Parliamentary Finance Committee, Ahmed Haji Rashid, revealed on Sunday that the government had returned the draft budget law for the year 2020 to the Ministry of Finance to reconsider some items.
Rashid said in a televised statement followed by Al-Akhbariya, "The Parliamentary Finance Committee was awaiting the arrival of the draft fiscal budget for the year 2020 to the House of Representatives, explaining that the Council of Ministers returned the project to the Federal Ministry of Finance."
He added that "the reason for returning the project to the ministry, unannounced, is likely, that the return may come to install a set of appointments, and the issue of debt in the draft fiscal budget law for 2020."
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48 minutes ago, yota691 said:

The government borrows 27 trillion dinars for the 2020 budget

 
  Baghdad: Shaima Rasheed
 
A member of the Finance Committee, Jamal Cougar, revealed that the 2020 budget, which is expected to arrive in Parliament, contains the government's request for a loan of 27 trillion dinars, according to the previous draft.
In a statement to Al-Sabah, Cougar stated that "this new borrowing came as a result of the lack of sufficient resources to finance the budget."
It is noteworthy that the representative of the government in Parliament had told the media that the 2020 budget bill was sent to Parliament at the end of this week.

Well borrowing money and the lack of resources to finance a budget, does not sound like a country who can revalue and pay out boat loads of money

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21-09-2020 02:50 PM
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Baghdad / Al-Akhbariya

Today, Monday, the Parliamentary Finance Committee revealed the reason for Parliament returning the current year’s budget to the government, indicating that the budget was formulated by the government of the dismissed Prime Minister, Adel Abdul Mahdi, and the current government voted on it quickly.

A member of the committee, Ahmed Hama Amin, told Al-Ikhbariya, "The government returned the budget law to the Ministry of Finance to review some of its provisions and add new details."

He added that "the reason for the return was not the delegation of the Kurdistan region, but because the budget was formulated by the previous government and the current government voted on it urgently, and contained dozens of notes that caused it to be returned."

Amin pointed out that "the budget does not include the borrowing law, the economic reform paper, or the inclusion of some groups with appointments, in addition to the most prominent reason which is to reduce expenditures to a large extent after the previous government proposed recording an unprecedented historical deficit in the history of budgets."

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Deputy: The government has borrowed 27 trillion dinars for the current year budget

 

1,230 Economie 09/21/2020 09:04 ha Baghdad today -

Baghdad A member of the Finance Committee, Jamal Cougar, confirmed, Monday (September 21, 2020) that the 2020 budget, which is expected to arrive in Parliament, contains the government's request for a loan of 27 trillion dinars, according to the previous draft. Cougar said in a statement to the semi-official "Al-Sabah" newspaper, "This new borrowing came as a result of the lack of sufficient resources to finance the budget." He added, "The government will borrow the coming months and the next year if it does not find adequate solutions and works to maximize its resources." On September 14, 2020, the spokesman for the Prime Minister, Ahmed Mulla Talal, announced the approval of the draft General Budget Law 2020, and sending it to Parliament.

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14 minutes ago, GreedyDinar07 said:

27 Trillion dinars is an insane amount of money. How can they RV at 1 to 1 and have that kind of money in a budget? Any ideas guys?

My question is. How does anyone think it will RV at all ? 

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Doesn’t make sense ( it’s Iraq, what does ? ) Whats the Big deal then with the TrumpDC/Kazemi Grab & Grin Thumbs Up. 
Im gonna keep looking to what the CBI is doing, not the corrupt Azz Holes in the GOI. They’ll say & do everything to confuse & confound.

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11 minutes ago, horsesoldier said:

Doesn’t make sense ( it’s Iraq, what does ? ) Whats the Big deal then with the TrumpDC/Kazemi Grab & Grin Thumbs Up. 
Im gonna keep looking to what the CBI is doing, not the corrupt Azz Holes in the GOI. They’ll say & do everything to confuse & confound.

 

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1 hour ago, Engine1 said:

My question is. How does anyone think it will RV at all ? 

 

2 hours ago, GreedyDinar07 said:

27 Trillion dinars is an insane amount of money. How can they RV at 1 to 1 and have that kind of money in a budget? Any ideas guys?

Seriously do you two really need to be spoon fed this information?? Come on either sell your dinars and give up or stop posting nonsense!!! Obviously they are not going to go out and print another 27 trillion dinars HELLO! If they are even able to borrow the money it’s will be 27 million dollars in USD! They do not even have 27 trillion dollars in circulation so either do you research or stop posting complete nonsense!

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Dinarrock, keep your insults to yourself!! I simply ask a question about the 27 trillion dinar and yes I know good and damn well they are not going to print that amount of currency. I have been in this investment for a long time and I have heard it all. I want this to happen just has much as everyone else invested and this is a learning process for us all. YOU ARE NOT AN EXPERT!! And by the way, $27,000,000 equals 32,083,100,00 IQD...so do your research! And no, I am not selling!!

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Dinarrock.  Wow cool your jets, I didn't say they were going to print it either. If I borrow money it means I am broke and i dont have spare money. So since you are the one with the answers, how do you figure they will pay everyone when it RV's?  Apparently they are broke having to borrow money because of the lack of sufficient resources to finance the budget. and no I wont sell because I dont need to, this is just beer money I would have spent and saved because I was in Iraq. 

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19 hours ago, GreedyDinar07 said:

27 Trillion dinars is an insane amount of money. How can they RV at 1 to 1 and have that kind of money in a budget? Any ideas guys?

Do you honestly think any budget is in the trillions trying to remove a few zeros and adjust the rate 360,000,000,000 is the norm 

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15 hours ago, txwWrestling said:

 

 

Thanks Yota, I think thats what was throwing me off....GO RV!!!!!

Exactly...and then multiply it because 27,000,000,000 is not enough they have stated reconstruction budget is around 150,000,000 by memory but someone will correct me if wrong...

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