First political: 24 trillion dollars for electricity supply, security, and medicines next year

[patriotic party girl]

Baghdad-morning

The Government allocated budget for the year 2011 more than 24 trillion dollars to support the expenses of the ration, security and defence, electricity, medicine.

Total budget next year some 93 trillion dinars including 29 trillion dollars earmarked for investment project expenses, while operating expenses rose 64 trillion JD financial deficit of over 14 trillion dollars of cash covers from the federal budget of recycled for 2010 and of external borrowing and, according to the draft budget which got "morning" on a copy.

Bill to authorize the Minister of Finance Authority to borrow from the IMF by about $ 1 billion (4.5), the World Bank (2) billion dollars, using special drawing rights SDR about b (1.8) billion dollars to cover the deficit projected in the budget, in addition to borrowing under Treasury remittances.

The budget proposed and ratified by the Council of Ministers on 30 September, about six trillion dollars allocated to ensure particulars ration wetrlionin and 700 billion dinars for pharmaceutical expenditures and monitor towards a half trillion dollars trlionin and support of electricity from non-balancing Ministry.

The Bill also provides for monitoring more than 13 trillion dollars for Defense and security and more than 12 trillion dollars to support social wetrlioni dinars to slide construction, housing and services and about eight trillion dollars for education.

The Government allocated 250 billion dinars as a contingency reserve other expenses appropriation of balancing the Federal Ministry of finance, and more than half a trillion dollars trlionin and to develop projects and district including the Kurdistan region, according to each Department and degree almharomet.

And identified budget adopted on 89 percent of revenues from crude oil exported share Kurdistan region by 17 percent, to be revisited in the light of the results of the statistics and census 2010. It also provides that "the Central Bank with a loan in the amount of $ 5 billion to support programmes and budget projects," according to Bill to deduct 20 percent of the salaries of members of the three presidencies, and reduce the rate of 10 percent of the salaries and allowances of the SJC and his deputies and deputies, Ministers, from the rank of a Minister's salary and a Deputy Minister owners, consultants and Directors-General and special grades of the rank of a number of State institutions.

Draft general budget law for 2011

(Chapter I)

Revenue

Article-1-1-federal budget revenue estimate for fiscal year 2011/$ (78705237500) dinars (eight and 70 000 kilogrammes, five billion, two hundred and thirty-seven million five hundred thousand dinars) as set out in (table/a-revenue as major accounts) to the present law

B-calculation of revenue resulting from the export of crude oil capacity of rate-based (73) barrel and rate export capacity (2250000) barrels per day (two and a hundred and fifty thousand barrels per day) (150,000) barrels per day (one hundred and fifty thousand barrels per day) on income from oil exports through Kurdistan region and bind the province by diversion of revenue to Iraq's reconstruction fund after deduction of the dfi (5 percent) of war reparations Kuwait or any other ratio determined by the Security Council and the United Nations to pay and when payment amounts are deducted from the share territory of 17 percent

II obligation of ministries and bodies are not linked to the Ministry in all cash grants amounts accruing under agreements with foreign Governments or institutions for income Treasury federal, Federal Ministry of finance for reassignment to the purposes for which and in coordination with the Ministry of Federal Planning

III: all amounts of cash received by the ministries and other provincial Ministry Ghiralmertbeth and irregular with territory after acceptance of the Council of Ministers if from foreign sources and from Federal Finance Minister if national sources of revenue for the federal Treasury to Federal Finance Minister for allocation of funds of the Ministry or the non-Ministry of Exchange in accordance with the purposes for which it was awarded to

IV: restrict all grants and contributions in kind received by the ministries and bodies not tied to provincial Ministry and Gore regular territory after approval of the Council of Ministers if from foreign sources and from Federal Finance Minister if from national records of the Ministry or the non-conservative Ministry or to use for the purposes for which it was granted

V. seek the consent of the Federal Finance Minister to accept grants or contributions made by Governments and foreign institutions to ministries and bodies are not linked to the Ministry in the form of technical assistance and studies, designs and other measures are being speculative in the intruder or Ministry records associated with the relevant Ministry or County

(Chapter II)

Expenditure and disability

Article 2, first expenditures

Provision of dinars (92980582970) (two thousand nine hundred and ninety eighty billion five hundred and eighty-two million nine hundred and seventy thousand dinars) for the financial year expenditure as distributes/2011 (field/3 total) (table/b expenditures by ministries) of the Act

A. $ (28957957804) dinars (twenty-eight thousand nine hundred and fifty-seven billion nine hundred and fifty-seven million wethmnmaeh and four thousand dinars) for venture distributes as project expenditures (field/2-expenditure investment projects) (table/b expenditures by ministries) of the Act

B-$ (64022625166) dinars (sixty-four thousand and twenty-two billion six hundred and twenty-five million, one hundred and sixty-six thousand dinars) for current expenditure and as follows

1. for defence and security: (13520645222) dinars thirteen thousand five hundred and twenty billion six hundred and forty million two hundred and twenty-two thousand dinars)

2. compensation and expenses: debt (6484152315) dinars (six thousand, four hundred and eighty-four billion and one hundred and fifty-two million three hundred and fifteen thousand dinars)

3. social strata support: (12562258720) dinars (twelve thousand five hundred and sixty-two billion two hundred and fifty million eight hundred kilogrammes and 20,000 dinars).

4. support public companies and self-financed bodies: (2485669374) dinars (two thousand and four hundred and eighty-five billion six hundred and nine sixty million three hundred and seventy-four thousand dinars)

5. sectoral expenditure

-Agricultural: (493861096) dinars (four hundred and three hundred and ninety billion sixty-one million and six ninety thousand dinars)

B-industrial and energy: (3642287836) dinars (three thousand and six hundred and forty-two billion two hundred and eighty-seven million eight hundred and thirty-six thousand dinars)

The transport and communications: (234263055) dinars (two hundred and thirty-four billion two hundred and sixty-three million, five hundred fifty thousand dinars)

W-construction, housing and services: (2111323907) dinars (two thousand and one hundred and eleven billion three hundred and twenty-three million nine hundred and seven thousand dinars)

C-education: (7879075180) dinars (seven thousand eight hundred and seventy-nine billion dollars and seventy-five million, one hundred and eighty thousand dinars)

6. the expenses of other ministries and departments: General

(14609088461) dinars (fourteen thousand, six hundred and nine billion, eight hundred and eighty million and one Weston dinars)

And as detailed as (field/1-operating expenses) of (table/b expenditures by ministries) of the Act.

C. provision of dinars (250000000) (hundred and fifty billion dinars) contingency reserve other expenses appropriation of balancing the Federal Ministry of Finance of emergency customizations listed in paragraph (i. expenditures referred to above.

D-a.27C.6 (2657256000 dinars) two thousand and six hundred and fifty-seven hundred and six billion and 50,000 dinars (l) the construction and development projects and district including Kurdistan) out customizations referred to in paragraph (I-a) above is distributed as follows:

A. According to each province.

B. by almharomet preparing Federal Ministry planning these criteria to this layatal almharomet distribution by the souls and implemented as follows:

1. conservative reconstruction plan conservative districts and its aspects ratified by the provincial Council of the Ministry of planning for consideration and approval to take into account the most affected areas within the province.

2. the approved plan of conservative age Governorate Council is responsible for monitoring implementation.

E. provision (1633788000 dinars) (thousand six hundred and thirty-three and eight billion kilogrammes and eighty million dinars) to provincial equivalent (1) dollars per barrel crude oil producer in maintenance and (1) dollars per barrel crude oil refinery maintenance and duplicate (1) per 150 cubic metres of natural gas producer in the province it is parsed by the production of each province and the computational adjustments after review by the Office of financial supervision.

Secondly: disability

Total planned deficit of the general budget of the Federal fiscal year/2011 (14275345470 dinars) (fourteen thousand and two hundred and seventy-five billion wethlthmaeh and forty-five million, four hundred and seventy thousand dinars) and covers the deficit of amounts recycled cash from federal budget for the year/2010 and from internal and external borrowing.

B-Federal Finance Minister gives power to continue to borrow from the IMF, complementing the amount (4.5) billion dollars (four billion five hundred million dollars) and the World Bank, complementing the $ 2 billion (2 billion dollars) in the year/2011 using special drawing rights SDR limits b (1.8) billion (1 billion wethmnmaeh million dollars) to cover the deficit projected in the federal budget in addition to borrowing under Treasury remittances.

C-also finances deficit of the loan amount of 500 million dollars (five hundred million) granted to Moo by BP.

((Chapter III))

General provisions and final.

Article-3 limits of exchange of key account funds (grants, subsidies, other expenses and capital expenditure project) adopted under the general budget of the Federal Republic of Iraq by the competent Minister or head and unlinked to Ministry and provincial governorates that are not linked in the light of the annual appropriations within the balance.

Article-4 Federal Finance Minister's power to make transfers between appropriations of the general budget of the Federal Republic of Iraq the certified in the annual federal budget and supplementary level doors, partitions and accounts, subcommittees and authorize Ministers, heads of non-associated with the Ministry and Governors and heads of provincial councils are not linked to the territory to make transfers between budget appropriations for the Federal Republic of Iraq the certified in the annual federal budget and supplementary by up (10 percent) of Exchange unit for other Exchange unit reduced allocation except for investment projects taking into account the provisions of paragraph (8) of section (9) of the financial management and public debt No. (95) of the year/2004 that you pause transfers of capital projects files customizations to operational expenses and you pause of non-financial asset allocations to salaries and operational costs.

Article-5 cabinet using the approved amounts (contingency) specified in section (I-c), (2) of this Act for incidentals and unexpected after entry into force of this Act there was an urgent need for domestic spending and allocation to cover this need.

Article-6 first use the appropriations approved in this law until 3 December from FY/2011 an affiliate income obtained until 31/12/2011 received after the end of FY 2010 federal budget of income for FY 2012.

Article-7 grants and subsidies are amounts of unused allocations for government departments and public sector companies by the end of FY 2010 accounting standards used to calculate the final Exchange and the amounts paid in excess according to these grounds payment to calculate the grant allocated to the service or unit in fiscal/2011.

Article-8 to the competent Federal Minister and chairpersons of non-associated with the Ministry and Governors and heads of provincial power exchange in light of customizations supported within annual mwaznthm heads and authorization of the Ministry or the non-Exchange power Ministry both or part as follows:

First: the Exchange is certified in accordance with the provisions in the annual federal budget or supplementary to their designated uses.

Second: to use the public budget allocations under federal spending plan endorsed by the Federal Minister of finance.

III: making provisions in the federal budget and may not enter into the obligation to Exchange in a custom in the federal budget.

Article-9-first: the federal ministries and Government departments all monthly accounts (balance audit) up (10 days) from the end of each month to the Federal Ministry of finance-accounts department.

Secondly: it is prohibited to make no transfer within the customizations (reconstruction and development projects and district) between provinces.

Article-10-Federal Minister of finance in coordination with Federal Minister approved for transfer customizations investment projects contained in the federal budget for the year/2011 not implemented for (25 percent) of customizations each project within six months of the adoption of the budget should not affect the contractual obligations of the operator and converted to other projects and with the exception of project implementation begins by compelling security reasons.

Article 11-first: when you move from a Chamber State funded centrally “ ” or autonomous privatized federal financial Ministry bears half his salary as of movable ones for two years from the date of transfer to the relationship of his final.

Secondly: you transferred from employee service without half salary provided for in paragraph (1) of this article to the moved to the private sector.

Article 12 – empowers the Minister of municipalities and the federal public works authority transfers of municipal Enterprise budget allocations of self-financing for safeguarding one of implementation services required.

Article 13-i. provincial quotas unsteady territory with a population of expenditure set out in (table/d ruling expenses) to the present law excluding share of Kurdistan (17 percent).

Secondly: Kurdistan shares by (17 percent) of the total expenditures set out in (table/d-governing expenditure) of the Act, not act in such share except in consultation and coordination between the relevant Ministry in the Federal Government and the Ministry in the Kurdistan region.

: when an increase or decrease in the total federal budget expenses added or reduced share proportionately with the Kurdistan spinner on balancing Kurdistan subject to item (ii) of this article including adjustments of the sovereign of transfer expenditures sovereign overhead expenses in the same proportion mentioned above.

Fifth: the premier federal agreement with the President of Kurdistan on expenditure (salaries and armament and equipment) to guard territory in conformity with the Constitution and agreed payment advances to cover it until a law regulating and payment of benefits.

Article 14-i. a.: the Office of federal financial control coordination and cooperation with the Office of financial control of the Kurdistan region by calculating and selecting federal income obtained in the territory of this year the Ministry of finance in the territory to transfer to the Federal Ministry of Finance on a monthly basis.

B-receivables are settled between the Kurdistan and the Federal Government for years (2004 to 2010) and subsequent years after review by the Court of the Federal financial control coordination and cooperation with the Office of financial supervision to the Kurdistan region.

Second: upon non-payment of federal income obtained the federal Treasury Department of finance to withholding of Federal quota under paragraph (a), item (I) of this article shall be the equivalent of planned revenue in the federal budget and mathematical adjustment later.

Third: the Federal Ministry of finance to withholding amounts of damage caused by a county or region not allowing the use of the airspace of the Republic of Iraq for mobile phone companies approved by the Federal Government share territory or maintained when funding specifically from revenue derived from leaves and mobile charges.

IV: Federal Ministry of oil by selecting any damage as a result of conduct by crude extracted for export and domestic consumption.

Article 15 – revisited Kurdistan regional and provincial share of irregular in federal territory in the general budget for the year 2011 and beyond the statistics and Census 2000/2010 and that amount is in the light of real or keep share territory with territory in irregular.

APF//2011 and displays the difference on the Federal Cabinet to settle it.

Article 16 first: all centrally funded services revenue revenue for the federal Treasury of the State and are shown in the balance of audit.

Secondly: the exception of clause (I) to Federal Finance Minister add amounts of monthly revenue earned by the Federal Health Ministry services to balance this Ministry.

Article 17 turning all communication and information Commission income to calculate federal Treasury of the State and Federal Department of finance budget allocation for body of imports that you receive.

Article 18 adheres to federal and non-associated with Ministry b (table/c) number of manpower for ministries and departments of centrally funded for years/2011) of the Act and the Federal Minister of finance the power development steps and modify owners resulting from the development of career levels of reinstating politicians and integrate transport corporations and militias or self-funded bodies to centrally-funded services and develop new combinations of degrees.

Article 19 into account equitable distribution of loans to the Federal Government and the regions and governorates of Iraq as its population ratios after taking into account strategic projects financed by these loans exclusively.

Article 20 first: the ministries and bodies are not linked to the Ministry prior coordination with the provinces and their boards when selecting projects.

Second: the Federal Department mandated to implement investment projects in custom drywall and belonging to the province.

III: keeping entrust any federal ministries or by jurisdiction for implementation of investment projects in the maintenance expense allocations (reconstruction and development of the territories and provinces).

Article 21 the three presidencies (Presidency of the Council of representatives and the President and Prime Minister) social benefits exchange controls in coordination with the Federal Ministry of finance and the Office of the Federal financial control and the Exchange pursuant to article 29 of the law of the federal budget for FY/2008 No. (20) for the year/2008 until issuance of such controls and approved by Cabinet.

Article 22 1 of the Federal Finance Minister secure financial allocations to employees in companies and public bodies to be self-funded development career levels are a result of the transfer services to owners of centrally-funded services in accordance with article 18 of this Act to meet staffing needs.

Second: the federal ministries all stop assignments within the staff of its profiles of public companies and the funded organizations that receive grant from a federal public coffers of State or Government on loans from banks to delete career levels within their owners question vocabulary when it became vacant due to transport or retirement or resignation or death.

Article 23 I deduct a percentage (20 percent) of the salaries of the speaker and his deputies and the President and his deputies and the Prime Minister and his deputies.

II deduct a percentage (10%) of salary (President of the Council of the Magistracy and his deputies and deputies, Ministers, from the rank of a Minister's salary and a Deputy Minister owners, consultants and Directors-General and special grades of the rank of staff in the House and the Presidency and the Council of Ministers (Cabinet Office/Cabinet/NSC/Office of the Commander-in-Chief of the Iraqi national intelligence service//national investment Commission).

Article 24 first: the federal ministries and Government departments all monthly accounts (balance review) on a date not more than (10 days) from the end of each month to the Federal Ministry of finance accounting service.

II: may make any transfer in customizations (reconstruction and development projects and district) between provinces.

Article 25 1 of the Federal Finance Minister to reallocate the amounts approved in the general budget of the year/2010 federal for investment projects of ministries and bodies are not linked to the Ministry and development projects and accelerate the reconstruction and rehabilitation of Marsh and petroleum projects and non-disbursed $ to customizations beneficiary solely for disbursement year/2011 investment project delivery exceptions (IV/1) of the Financial Administration Act and the public debt No./95 of 2004.

Second: to Federal Finance Minister allocations on quantities of equation (1) dollars per barrel crude oil producer in conservation or (1) dollars per barrel crude oil refinery maintenance and duplicate (1) per 150 cubic metres of natural gas producer in the preservation of conservation benefits of/2010 and that have not been included in the aforementioned year balance due to delayed sending new projects by County on the planning Ministry as acquired rights payable for maintenance.

Article 26 on cabinet law regulates angels and the salaries of members of Congress and the President and Prime Minister.

Article 27 prevent aircraft leasing for absolutely at the expense of the State of all except the three presidencies (Presidency of the Council of representatives and the President and Prime Minister).

Article 28 no remuneration in cash or in kind granted to workers on million dinars per year per person and is employed for service rendered to the Ministry or who are not linked to the Ministry within the approved budget allocations under instructions issued by the competent Federal Ministry of finance.

Article 29 is Chief of the investigation as per unit expenditure rules and instructions which fails to submit the final accounts for the year/2010 after running out of his law on time in the Financial Administration Act and the public debt No. (95) of the year/2004.

Article 30 first: served by any decision contrary to the law of the federal Treasury Welatthaml any financial burden of the resolution unless acquires legal legitimacy and validated in house.

Secondly: submit bills finance by Cabinet to House and not implemented retroactively.

Article 31 is a public company, subject to section 8 of the Financial Administration Act and the public debt No. (95) of the year/2004.

Article 32 obliges electricity and communications ministries, municipalities and public works and the Secretariat of the Federal and provincial municipalities in Baghdad by activating the levying charges electricity, telephone, water and sewage from citizens and businesses and manufacturers and Government agencies and the public sector and others to increase their own resources and reducing reliance on the federal budget.

Article 33 on all federal ministries and authorities not linked to the Ministry and district public procurement of supplies and manufactured materials in the public sector, taking into account competition on price and quality in addition to dealing with the Department of transportation as a national bus.

Article 34 that public corporations funded by federal budget companies mentioned State Bank lending in accordance with General company law No. 22 of 1997 after filing for feasibility studies except directorates of the Ministry of electricity and the Federal Ministry of agriculture companies and mic that companies are appended to the defense and federal industry and railway company under the Ministry of transport Iraqi self-funded.

Article 35 uncertainty in any leadership positions (Director and above) unless there is a degree in law of the Ministry or organizational structure based on Ministry or who are not linked to the Ministry.

Article 36 of the competent Minister or head to the Ministry of redundant staff assignment with retirement service not less than 15 years nor less than 50 years to retirement.

Article 37 obliges ministries and bodies are not linked to the Ministry and all other official bodies not to bear the expenses of sending our members visit see sights and organize testimony to attend conferences, seminars, workshops and meetings under the instructions of the Cabinet of Ministry of finance and the Secretariat of the Council of Ministers.

Article 38 first: all goods are exempt from fees, goods imported by State and public services on its behalf for use.

Secondly: includes exemption above goods and goods imported for government departments and public sector from Governments or donor institutions.

Article 39 the Iraqi Central Bank loan in the amount of 5 billion dollars (five billion dollars) to support federal budget programmes and projects of the year/2011 terms and schedule of the Bank mentioned in coordination with the Council of Ministers for the purpose of payment and to the Council of Ministers shall add corresponding projects and programmes within the federal budget for the year/2011.

Article 40 to the Ministers and heads of non-associated with the Ministry and Governors and heads of local councils and municipalities and stakeholders implementing this law.

Article 41 to Federal Finance Minister to issue the necessary instructions to facilitate the implementation of this law

Article 42 of this Act shall be published in the Official Gazette and implemented as of 1/January 2011.http://www.microsofttranslator.com/bv.aspx?from=&to=en&a=http%3A%2F%2Fwww.alsabaah.com%2Fpaper.php%3Fsource%3Dakbar%26mlf%3Dinterpage%26sid%3D112465

[E. 1999]

thats more than americas debt 90 umthing trillion im confused either the dinar will be worth poop or iraq is about to be big players in the game of life

[jg1]

Is this real , 24 trillion dollars? And where is the part about the RV.I didn't see it. There must be a mistake.

[HuntTech]

Awesome find! THANK YOU, patriotic party girl!!!

[pureau79]

"Article 28 no remuneration in cash or in kind granted to workers on million dinars per year per person and is employed for service rendered to the Ministry or who are not linked to the Ministry within the approved budget allocations under instructions issued by the competent Federal Ministry of finance."

I know that it is exceedingly nit-picky of me to take this one item from such a huge body of text, but it just leapt off the page at me. If this is in any way referencing a potential salary level of some GOI employee then it stands to reason that the dinar would need to be worth about $.10USD (ten cents) to place that salary on par with an American counterpart (approximately $100,000.00) of similar status...

Where did this article originate?

[HuntTech]

It originated here:

2011 Budget

patriotic party girl had it in her post, but the copy & paste pushed it together at the end of her text... so, the above is the proper link.

[patriotic party girl]

Hunttech thanks for helping me out

[FishMan1969]

This article makes no sense to me for a couple reasons.....

1. QUOTE "Total budget next year some 93 trillion dinars including 29 trillion dollars earmarked for investment project expenses"

Mathematically it is not possible at TODAYS exchange rate of 1 USD = 1170 IQD

HOW CAN 93 Trillion Dinars at today's rate INCLUDE 29 Trillion dollars?????

The total budget = 93 Trillion Dinars is less than something to be included within that total at today's rate.

Because 29 trillion USD = about 33,930 trillion Dinars.

Last I checked comparing apples to apples - 33,930IQD is greater than 93 IQD

Am I making sense of this? 93 cannot include 33,930 in the same units (trillions of IQD)

So "that sentence" makes absolutely no sense the way I read it UNLESS there is a different exchange rate being applied!!!!!

This makes me want to play with the numbers to attempt to figure out an exchange rate that would work.... And I am no expert!!!

Just from this one sentence alone:

The MINIMUM exchange rate would could be looking at would be 1 USD = 3.21 IQD if all (100%) of the 29 was used in the word "including".

(The same as 1 IQD = 0.31 USD)

The exchange rate (assumption: if the investment project expenses was 50% of the total budget (which I have no idea if that is true or not)) would thus be 1 USD = 1.60 USD

(The same as 1 IQD = 0.63 USD) (getting better in my opinion)

The exchange rate (assumption: if the investment project expenses was 25% of the total budget (which I have no idea if that istrue or not)) would thus be 1 USD = 0.80 USD

(The same as 1 IQD = 1.25 USD)

ONCE again, I am just playing with the numbers of that one sentence to determine possible rates with a calculator. (which I have always thought would be over 3.00) But just by this one sentence alone, IF we could determine the investment portion of the budget in a percentage form, we could extrapolate the correct exchange rate, unless I am making this way to simple.

I am not claiming to have figured anything out, I am just playing with these numbers that have been presented in the first paragraph that make absolutely no sense at the present exchange rate.

ALSO the inclusion of both $ and dinar in the same line item sentences is driving me crazy…. Which is it, IQD or USD…. EXAMPLE:

A. $(28957957804) dinars (twenty-eight thousand nine hundred and fifty-seven billion nine hundred and fifty-seven million wethmnmaeh and four thousand dinars) for venture distributes as project expenditures (field/2-expenditure investment projects) (table/b expenditures by ministries) of the Act

B-$(64022625166) dinars (sixty-four thousand and twenty-two billion sixhundred and twenty-five million, one hundred and sixty-six thousand dinars) forcurrent expenditure and as follows

Any help on these numbers would be appreciated….

[pureau79]

Thank you Hunt...

PPG you've be responsible for some really good posts. Not picking on you just trying to get to the source to do a little leg work of my own.

I can't help but think on the same lines as FishMan... Sorry, but that is the direction all the misdirection between dollars and dinar led me in...

[TWONS29]

I am curious what Adam Montana would say about this article, and in response to fishman

[BreakinDaBank]

I am curious what Adam Montana would say about this article, and in response to fishman

what are you getting at???

[mythunter]

Nice fishman. I agree.

[dflake]

I'd love to help you out with those numbers, but don't have enough fingers and toes, I don't even have that many tooth picks. All sounds good to me.

[FishMan1969]

I am ONLY RUNNING the numbers and not predicting anything.

Patriotic Party Girl just posted the percentage of the budget allocated for "Investments".

The Council of Ministers on the draft general budget of the Government, the total allocations (by Iraqi satellite channels) 92 trillion Iraqi dinars, equivalent to about U.S. $ 80 billion, while the Iraqi finance minister has said a few days ago that the size of the Iraqi budget for 2011 amounted to 80.4 billion U.S. dollars, media reported that the budget deficit in 2011 amounted to approximately 14 trillion Iraqi dinars, and the proportion of funds allocated to the investment of the budget referred to $ 30 .%...

Link - http://translate.googleusercontent.com/translate_c?hl=en&ie=UTF-8&sl=ar&tl=en&u=http://www.almowatennews.com/news_view_12710.html&prev=_t&rurl=translate.google.com&twu=1&usg=ALkJrhhJMGIS5G-3JLHKX-F8k42g4INKaA

So with the math listed from the first article giving dollar figures and the second article giving the percentage I was looking for, This is what THE MATH came up with..... not FishMan1969....

"Total budget next year some 93 trillion dinars including 29 trillion dollars earmarked for investment project expenses"

So 30% of the 93 trillion dinars is 27.9 Trillion dinars

If 27.9 Trillion dinars = 29 Trillion dollars from the combination of the two articles (IF they are even accurate or True...... ha ha)

Then 1 IQD = 29/27.9 USD

or

1 IQD = 1.03942652 USD

SO: 1 MILLION IQD = 1,039,426.52 USD IF THIS MATH WAS USED.....

I am just using mathematical logic which is VERY DANGEROUS in trying to figure out the Iraqi Dinar Madness.

I dont agree with this rate as a potential rate for the RV, BUT, the numbers show from these two documents that the IQD is slightly more valuable than the USD with an exchange rate of 1 IQD = 1.03942652 USD (same as 1 USD = .96206897 IQD) ....... for those who have learned anything about the inverse relationship from prior math examples.

I like the 1 IQD = 3.86 USD much better, and would like to hope for a target figure of this instead...

I AM NOT PREDICTING A RATE IN THIS EXAMPLE.... ONLY ANALYZING THE MATH OF TWO NEWS ARTICLES.... FUN, FUN, FUN....

[patriotic party girl]

WOW , THANKS SO MUCH FOR ALL YOUR HARD WORK I FOR ONE KNOW YOU PUT ALOT OF TIME ON HERE TRYING TO FIGURE OUT ALL THESE CRAZY BUDGET NUM. AND YOUR RIGH TWHO KNOWS IF THEY ARE CORRECT WHEN IRAQ PUTS OUT THESE NEWS POST JUST TO DRIVE US CRAZY .

ONCE AGAIN THANKS FOR ALL YOUR HARD WORK .

[MovieMaker]

INTERESTING, THANKS FOR YOUR WORK ON THIS & YOUR TIME IN POSTING FOR US.

[marknet73]

Still trying to wrap my mind around all those numbers! At least it's looking more and more like they need to add some value to their currency.

[FishMan1969]

Hammy put out a news article this morning that stated the investment budget is less than 20% of the total budget instead of the 30% published when this thread started.....

The director of the private banks in the Central Bank of Abdul Aziz al-Hassoun of the island has it that what the budget is exhausted items operational for more than 80% of the allocations.

Read more: http://dinarvets.com.../#ixzz1AHIZMdTn

K98 put out another article today that I cannot find right now that states Investment budget is approximately 20% of the budget and another place in the article stated that the Investment budget is now less than 30% of the budget... If I find this other link, I will post it as well..

SO......

This changes the math slightly...

So 20% of the 93 trillion dinars is 18.6 Trillion dinars

If 18.6 Trillion dinars = 29 Trillion dollars from the combination of the two articles (IF they are even accurate or True...... ha ha)

Then 1 IQD = 29/18.6 USD

or

1 IQD = 1.55913978 USD

SO: 1 MILLION IQD = 1,559,139.78 USD IF THIS MATH WAS USED.....

Read more: http://dinarvets.com...?#ixzz1AHJbCfpi

[johnfagan]

That is some amazing number crunching! Great stuff !

[FishMan1969]

That is some amazing number crunching! Great stuff !

This is a CALCULATED rate,,,,,,,, not a PREDICTED rate.....

I would predict a higher rate if I had a choice...

[lechesuerte]

Thanks to ppp for the post. Also thanks to fish for the numerical breakdown. Of course this being Iraq who knows what the true numbers or values really are but it sure was alot of fun to think about and futher our speculation concerning all things IQD. GO RV !!!

[Rogue Knight]

This is a CALCULATED rate,,,,,,,, not a PREDICTED rate.....

I would predict a higher rate if I had a choice...

I can still live with the calculated rate quite well. Hey, I will take .50 at this point....

[DaveNC]

Can we read anything into the fact that they used both currencies in this release? TX for the math lesion.

[FishMan1969]

Can we read anything into the fact that they used both currencies in this release? TX for the math lesion.

And the weird thing is that in the Jan revisions of the 2011 budget that were posted they kept referencing the JD after many of the line items

JD = Jordanian Dinar

Never have figured that one out yet.....

[labdog]

What number am I thinking of?