Iraqi News Budget Passed

[SBX]

Looks good.

UPDATE 1-Iraqi parliament approves $72.4 bln 2010 budget

Tue Jan 26, 2010 9:23am EST

* Budget sets 27 percent deficit

* Contemplates IMF and World Bank financing (Adds details)

BAGHDAD, Jan 26 (Reuters) - The Iraqi parliament on Tuesday passed a 2010 budget that sets federal spending at 84.7 trillion Iraqi dinars (around $72.4 billion) and a deficit for this year of 22.9 trillion dinars ($19.6 billion), a lawmaker said.

The deficit amounted to 27 percent of total spending and was to be financed with surpluses from previous years and also through domestic and external borrowing, the budget law said.

http://www.reuters.com/article/idUSLDE60P1T120100126

[SBX]

And..

http://en.aswataliraq.info/?p=125921

[k98nights]

Halleluja!!!

[Daniel Z]

Good, Bad!?! Yes, No!?!

[k98nights]

The fact that it passed is very good IMO

[ndowning]

Yeah!!!!!! Now I hope our theory works and that the dinar will RV soon!!!!! Thanks, for the info.

[Squaredaway]

How long now before reval should occur and at what rate?

[Soldier]

That is the question my friend...Time will only tell.

[k98nights]

How long now before reval should occur and at what rate?

If we knew that we'd be millionaires... hahahahaha! Hey wait! We just may be!

[Dcrvp]

How long now before reval should occur and at what rate?

Unknow to both question. Hopefully soon though.

[DCRdad]

I would hope they need the RV to finance the new budget. Do we know when the new budget takes place.

[bjdksl]

Allright !!!!!!! some forward movement finally!!!! Thanks for the info!!!!

[Muhammad]

Economic success is not measured by how much oil as a natural resource a nation has but by a sense of national purpose, social cohesion and political integrity. Mind you, a great fortune in the hands of a corrupted government is a great misfortune to its own nation whereas a great fortune in the hands of a clean government is a greater fortune to its own nation and to all its foreign investors worldwide as well. Let us hope the government under PM Maliki is clean and their "Budget Passed" today is their "RV Passed" very soon!!!!

[mrref]

It will not RV not until chapter 7 is lifted, think about it!!!!

[john holmes]

please...lets not jump the gun here...the budget may have nothing to do with the rv...just look at the projections...its still showing trillions of dinars..instead of billions....thats the sticking point....we need billions instead of trillions ..then we know the new rate was factored in the budget!.....just my opinion.

[DCRdad]

I guess the question is...can they run their goverment on $72.5 billion dollars. If not then they will have to RV so that they could support the new budget with Dinar. Am I wrong with this line of thinking?

[Danimal]

I cant believe they did this without an emergency session at the last second....

[frontrow]

Theoretically, can't Iraq just continue to borrow money as they stated until oil generates needed money? Only wondering.....

I Know Nothing.

[tabi]

I'm glad they passed the budget. I don't think it matters to the RV. A lot has happened in the past few years but, the budget was passed last year and the year before and we didn't see an RV happen?! Why would things be any different this year? Seems like a lot of hype.

The only good news I see is...Maybe now that they got pay-cuts they'll get it done faster!!!

[rand]

Squaredaway View Profile View Forum Posts Private Message

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Thanked 0 Times in 0 Posts How long now before reval should occur and at what rate?

Who knows??? wait!!!!! I bet medic knows...

[jo-jack]

So chapter 7 is the last thing to pass for an rv correct?

[donhere043]

Well not that it is worth anything other than alot of words but it seems to me an RV is a sure thing simply because the rest of the world via the UN is tired of Iraq not being consumers, we all buy their oil but they don't buy anything from the other countries because of their economy, the UN has already said that Iraq has to step up to the consumer plate so the pressure is on for an RV JMO

[DaveH]

please...lets not jump the gun here...the budget may have nothing to do with the rv...just look at the projections...its still showing trillions of dinars..instead of billions....thats the sticking point....we need billions instead of trillions ..then we know the new rate was factored in the budget!.....just my opinion.

yes, maybe, but think of the budget surplus they would have if it rv'd

[sammiePJ]

so we are still in the same position as we have been to a degree... well at least we know they passed the budget and now.. we look towards the elections and chapter 7 which if im right is different from what we consider here in the usa.. so my family only time will tell there is always tomorrow.

lets not give up hope.

[muydinar]

Pretty sure Chap 7 doesn't matter. A key that may be related to the budget would be borrowing money from IMF, if they borrow from them they have to have a recognized currency when they make their first payment in March. That's if they borrow from them....that was the verbiage I was hoping to see.