2011 Budget approved!!!!!!

[seus]

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.

I'm going to go with your number as well, it makes more sense...I was only using what someone else had posted.

[dinarczarina]

Good point, Allin4. Timing is everything...

[hammy]

I have a feeling we wont here anything about a rate for a little while. Lots more to do unfortunately, like the GOI. Don't worry though A Very Big Puzzle Piece was just inserted into the puzzle. We can start to see the Big Picture taking shape.

[seus]

Actually wouldn't the numbers with your calculation work out like this?

80,900,000,000,000 / 2,200,000 = 36,772.727272

36,772.727272 = 76.5

.0020803 IQD = 1 USD

You didn't account for the difference from trillion to million! you did million to million.

[Carrello]

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.

LAMBLIZ - If you saw an article stating the budget had not been past and you are refuting what Hammy has posted, you need to post the article you saw with a link. Don't pull this bs at this point! POST!

[frs61]

HOLY CRAP PEOPLE, THE BUDGET IS APPROVED! This is only Sunday, the beginning of the week. Lots can still be done this week. Can't wait to see what they can accomplish now that the Elephant is out of the room.

Give em hell Hammy Nice to see a little jusified emotion. Love your posts, keep up the good work

[Mustmoto]

Actually wouldn't the numbers with your calculation work out like this?

80,900,000,000,000 / 2,200,000 = 36,772.727272

36,772.727272 = 76.5

.0020803 IQD = 1 USD

You didn't account for the difference from trillion to million! you did million to million.

Yep. I missed the /1000

Just realized that.

Good catch.

Edited February 6, 2011 by Mustmoto

[tjmunson]

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

I don't wanna give you a big head my brother, but hearing you say it is so gives the warm fuzzies......I thiank you for all you do for us and hope the momentum from this huge accomplishment continues to mount and gets us the rest of the way home.

Thanks again!!!

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.

http://en.aswataliraq.info/Default1.aspx?page=article_page&id=140862&l=1

Now we are going to have to start handing out the "Hammy Award" for being the first to post to the DV family any incredible news in regards to this investment. You are the man Hammy.

Thank you!!!

[hardmoney1]

Were getting closer I hope.

It would be a good day to rv

GO RV

GO PACK

They need a STEEL backbone - No Steel, NO RV

GO STEELERS!!!!!!!!!!!!!!!

[Rome M]

2,300,000 barrels per day (includes Kurd's 100,000) X 76.5 USD per barrel = $ 175,950,000 USD per day in oil

$ 175,950,000 USD per day in oil X 365 days in a year = $ 64, 221,750,000 USD (64 Bill)

80,900,000,000,000 IQD (80 Trill) / $ 64,221,750,000 USD = 1259.69 IQD per USD

BACKWARDS TO CHECK THE MATH:

1259.69 IQD X 64,221,750,000 USD = 80,900,000,000,000 IQD

2,300,000 barrels a day X 365 days = 839,000,000 barrels of oil a year

839,000,000 barrels of oil a year X 76.5 USD per barrel of oil = 64,221,750,000 USD per year on oil

1259 IQD per USD rate

remember this does not mean that it cannot change

[tbush]

[rocketman2010]

tbush U so crazy

[Uncle Barkie]

I love this article , but this is the only thing that worries me as the IMF and WB both have clearly stated that they would not lend IRAQ another dime. Unless that changed I'm going to be cautiously optimistic .

“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.

Hopefully they will lend them the needed cash to make this budget final .

Uncle Barkie

[jeepguy]

WHOOOOOOOOOOO foloks the budget is hit looks like all of you folks reading my post have too much - budget- please don` t let this take you down ,, people coming out of the wood work looking for you,,,heck send your over budget dinars here too me i`ll help you ---- help me hahahahahahaha jus t a short lost my mind post have a good one

[rsskelton]

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

You da man K98, you old newshound, you!

[kevnutz]

HOLY CRAP PEOPLE, THE BUDGET IS APPROVED! This is only Sunday, the beginning of the week. Lots can still be done this week. Can't wait to see what they can accomplish now that the Elephant is out of the room.

[brbrlocke]

You da man K98, you old newshound, you!

I agree...Thanks for all your posts

[tommy17]

I have a feeling we wont here anything about a rate for a little while. Lots more to do unfortunately, like the GOI. Don't worry though A Very Big Puzzle Piece was just inserted into the puzzle. We can start to see the Big Picture taking shape.

I believe there is alot more done ( government wise) than they are telling us. People can speculate on the rate all they want to ,but nobody will know till it's on the CBI website.

[jola]

Thank you for the articles!

Now we should be looking AGAIN for the parliament's 2nd and 3rd reading + vote.

Cabinet approved the modifications, now the Budget will go back to parliament. Waiting patiently, $%^&*!

[tkc]

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!!

After the game you'll be eating your name. GO PACKERS !!!!!!!!!!!!!!!!! GO RV !!!!!!!!!!!!!!!!!!!!!!

[lambert]

Steelers by 10. nuff said.

[Doctor Smith]

They need a STEEL backbone - No Steel, NO RV

GO STEELERS!!!!!!!!!!!!!!!

I don't care if the Dallas Cowboys Cheerleaders win the Super Bowl I just want the RV.

[aKINGinme]

This is great news. You know, the amount of dinar I have will not make me rich, I won't be able to retire. But it will help things along for me. After joining this site I have become more aware of what this will mean for the people of Iraq...those that live in poverty. I not only cheer for us and the RV but also the success of Iraq and a better life for Iraq citizens as well. I cheer for Iraq and then for us!

Nice... Same here.

[hammy]

I don't wanna give you a big head my brother, but hearing you say it is so gives the warm fuzzies......I thiank you for all you do for us and hope the momentum from this huge accomplishment continues to mount and gets us the rest of the way home.

Thanks again!!!

Now we are going to have to start handing out the "Hammy Award" for being the first to post to the DV family any incredible news in regards to this investment. You are the man Hammy.

Thank you!!!

No need for awards, just post what I read. Though I try to only post news about Dinar, Budget, Political moves connected to Dinar or Budget. To much news posted here that is not important to those things. Car bombs in baghdad are terrible but not what I would post here as news. Oil contracts are important too. Thanks for the Kudos though.

[DinarFeen]

HOLY CRAP PEOPLE, THE BUDGET IS APPROVED!