2011 Budget approved!!!!!!

[hammy]

I am not getting too excited because I just read another article that says it is not done...

Stop I saw 3 articles already this morning, posted a second one above. Did not think posting the 3rd would matter though if you need me to I will.

[rsskelton]

OK my friends, once again please bear with me, but from what I am reading regarding the budget, would this indicate a ratio of 1USD=66.6IQD? Thanks

[hammy]

OK my friends, once again please bear with me, but from what I am reading regarding the budget, would this indicate a ratio of 1USD=66.6IQD? Thanks

NO! This has nothing to do with a rate. No rate has been made. Do not confuse us messing around with the The facts of the Article. That being said here are 3 different news agencies talking about the approval.

http://www.babnews.c...ew.asp?ID=34470

http://www.inciraq.com/pages/view_page.php?id=49419

http://www.burathanews.com/news_article_116063.html

[BanG]

Aswat Al Iraq / Politics , Baghdad

Government approves 2011 budget – spokesman

2/6/2011 4:22 PM

BAGHDAD / Aswat al-Iraq: Spokesman of the Iraqi government said on Sunday that the government approved the 2011 federal budget with 96.6 trillion Iraqi dinars.

“The Council of Ministers approved the federal budget of 2011 during an extraordinary session at 96.6 trillion dinars,” Ali al-Dabbagh said in a statement received by Aswat al-Iraq news agency.

“The operational budget is 66.6 trillion dinars, while the investment budget is 30 trillion dinars,” he added.

“The outcome is 80.9 trillion dinars after exporting 2.2 million barrels at a price of 76.5 dollar per barrel, including 100,000 barrels export from Kurdistan,” he explained, pointing out that the deficit reached 15.7 trillion dinars.

“The finance minister has been authorized to borrow 4.5 billion dollars from, the international Monetary Fund, in addition to 2 billion dollars from the World Bank,” he said.

Very sorry for double post....hehehe.....guess I got a bit fat fingered. Anyway its good news.

[k98nights]

The Cabinet approves the budget of/96,6/trillion deficit//15,7 billion dinars Haidar Ali Jawad -06/02/2011 ad-3: 13 | readers number: 78

The state minister said the official spokesman for the Iraqi government, Ali Al-Dabbagh, that the House of Representatives approved the federal public budget during the special session held today (Sunday).

He said in a press statement that: " The total budget will be (96.6) trillion Iraqi dinars كموازنة be operational at (66.6) trillion Iraqi dinars and Investment (30) trillion Iraqi dinars."

He added: " That is total income (80.9) trillion Iraqi dinars on the basis of the Export (2.2) million barrels of crude oil at a price ($76.5/Barrels), including (100) thousand barrels are from the Kurdistan region."

The statement said that: " The total deficit is (15.7) trillion dinars, which covers the deficit from the cash recycled from the budget of 2010, and internal and external borrowing and savings is expected to increase the selling price of oil or increase output."

He said: " The prime minister decided to delegate to the minister of finance the borrowing (4.5) billion dollars from the International Monetary Fund, ($2) one billion dollars from the World Bank an additional use of special drawing rights, as well as of the loan granted by the company (BP) and in the amount of (5) million Iraqi dinars to cover the deficit is expected."

He added: " The ratio of 17 % of the total operating expenses, and investment projects of the public budget the Federal Republic of Iraq approved will be allocated to Kurdistan region after the exclusion of sovereign expenditure, while taking into account any increase or decrease in the total budget expenditure."

http://www.burathanews.com/news_article_116063.html

[renros]

Well it it RV this coming week, I guess Okie does have some decent contacts!

Predicting EVERY week he eventually has to be right. Doesn't mean he has good intel.

[smee2]

“The outcome is 80.9 trillion dinars after exporting 2.2 million barrels at a price of 76.5 dollar per barrel, including 100,000 barrels export from Kurdistan,” he explained, pointing out that the deficit reached 15.7 trillion dinars.

Okay ... where are all those mathematics geniuses here who can take this and turn it into a rate?

smee2

[snowglobe4]

ty K98....please help keep us understanding what all this means....we really appreciate everything you do

[Rogue Knight]

Praise Jesus!!!!!! It's about time.

[snowglobe4]

rate...heck I want the date!!!!!!!!!!!!!!!!

[Desert Medic]

Gee ... Funny how they are able to agree now that there is the looming threat of a citizen revolt! About freaking time!

RV Already!!!

ha ha.. a gun to your head will make you do unbelievable things! and quick too!

[rdb]

rate...heck I want the date!!!!!!!!!!!!!!!!

LOL... and i agree to the other post, where are the math wizzes

[hammy]

Funding foreign oil companies in Kurdistan laid in Iraqi budget

Sunday, February 6th 2011 9:58 AM

Sulaimaniya, Feb.6 (AKnews)- A member of the oil and gas committee in the Iraqi parliament said Saturday the compensation of the foreign oil exploring and drilling companies functioning in the Kurdistan Region is stipulated in the Iraqi budget 2011, while he urged the Kurdish administration to present the Iraqi government with details of its oil contracts to be entitled the right.

Byazid Hasan told AKnews it is mentioned in the Iraqi 2011 general budget that the Iraqi government will remunerate the companies.

After almost one year and half, the Kurdistan Region will resume its oil exports. The suspension was because Baghdad refused to reimburse the companies for it recognized the Kurdistan oil contracts “illegal.” The phase seems to have elapsed, thanks to constant negotiations between the top officials from both the Kurdish and Baghdad governments.

However, Hasan said, there is an issue as to how the companies will be reimbursed. The Kurdistan Region is yet to disclose the details of its oil contracts to the Iraqi side. Even in the previous cabinet the oil minister, Hossein Shaherstani, demanded to forward the deals to Baghdad for inspection, Hasan said.

He urged the Kurdish government to provide Baghdad with the contracts’ details, “or it may be deprived from the reimbursement for the companies.”

In an interview with the AFP Saturday the Iraqi Prime Minister Norui al-Maliki voiced his cabinet’s readiness to pay back the companies.

The Iraqi budget is still debated among Iraqi lawmakers.

http://www.aknews.com/en/aknews/2/216054/

ty K98....please help keep us understanding what all this means....we really appreciate everything you do

It means the Budget is approved. Kurds are included in the budget according to Aknews.

[PacoTaco]

What was the other part of the rate that Okie predicated this weekend? Maybe he has that one pegged also!

[rsskelton]

NO! This has nothing to do with a rate. No rate has been made. Do not confuse us messing around with the The facts of the Article. That being said here are 3 different news agencies talking about the approval.

http://www.babnews.c...ew.asp?ID=34470

http://www.inciraq.c...ge.php?id=49419

http://www.burathane...cle_116063.html

Ok, ok, Chill Hammy. I was just asking. This is all new to me. I'm as excited as the rest of you and not trying to step on toes here. Just misunderstood what it meant. Sorry. Let's all be happy!

[michelneedsRV]

“The outcome is 80.9 trillion dinars after exporting 2.2 million barrels at a price of 76.5 dollar per barrel, including 100,000 barrels export from Kurdistan,” he explained, pointing out that the deficit reached 15.7 trillion dinars.

Okay ... where are all those mathematics geniuses here who can take this and turn it into a rate?

smee2

let's make it a bit easier for all mathematicians:

80.9*2.2/76.5*15.7/100

hope that helps

michel!

[Circlewood]

I'm glad to hear it's approved in this article,,,, but I thought it needs to be read 3 times in other words 2 more times in front of parliment, then published in the Gazette. Lets hope.......

[renros]

Budget done!

What about the GOI?

Is it fully formed or do we still have and empty Ministery seat?

[Mustmoto]

80.9/2.2 = 36.7727273 dinar per barrel

36.7727273 Dinar = $76.50

1 dinar = $2.08034612

According to the numbers supplied... now we wait.....

Edited February 6, 2011 by Mustmoto

[seus]

let's make it a bit easier for all mathematicians:

80.9*2.2/76.5*15.7/100

hope that helps

michel!

Well without trying anything fancy:

(80.9 * 2.2) / ((76.5 * 15.7) / 100) = 1.48187003

This is only assuming I'm doing the order right.

[Crow]

Were getting closer I hope.

It would be a good day to rv

GO RV

GO PACK

YOU KNOW THIS TOPIC WAS SOO GREAT TILL I READ YOUR POST!!!!!!!!!!!!!!!! YOU GOT EVERTHING RIGHT EXCEPT THE GO RV... GO PACK THING.............................ITS HERE WE GO RV AND HERE WE GO STEELERS....HERE WE GO........... YOU NEED TO GET THINGS RIGHT IF YOUR GONNA POST!!!!!! LOL....TODAY IS A GREAT DAY...A SUPERBOWL AND THEN MIGHT EVEN BE A RV!!

[hammy]

Ok, ok, Chill Hammy. I was just asking. This is all new to me. I'm as excited as the rest of you and not trying to step on toes here. Just misunderstood what it meant. Sorry. Let's all be happy!

I'm happy, just didn't want something to spin off that wasn't true. I was going to post those other news articles anyway. Someone said they saw an article saying it was not approved. No problems rsskelton, did not mean to sound as if I was mad or something if that's the way it came off I am Sorry.

Budget done!

What about the GOI?

Is it fully formed or do we still have and empty Ministery seat?

With the Big Giant Elephant removed from the room they can get a lot done now, watch. It's 6:00pm Iraqi time, most likely not much more news coming out today. Tomorrow is gonna be interesting though.

[k98nights]

I'm happy, just didn't want something to spin off that wasn't true. I was going to post those other news articles anyway. Someone said they saw an article saying it was not approved. No problems rsskelton, did not mean to sound as if I was mad or something if that's the way it came off I am Sorry.

I posted an article from today that stated the budget was not approved yet... but in all honesty, I think the reporter submitted the article and it was published before the budget was approved. With so many positive stories out about the budget approval, I tend to believe it's actually been approved. JMO

[snowglobe4]

ty for the clarification K98.........small celebration in order.... :lol:

ok now what someone earlier mentioned the seating of the gov next hurdle...lets do it!!!!!!!!!!!!!!!!!!!!!!!!

[Mustmoto]

Well without trying anything fancy:

(80.9 * 2.2) / ((76.5 * 15.7) / 100) = 1.48187003

This is only assuming I'm doing the order right.

I think that formula is not right. Why would you multiply by the deficit?

I'll take that number don't get me wrong, but I like the number I came up with better.