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2011 Budget approved!!!!!!


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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

1. The rate of IQD/Dollar is not going to go "backward".

2. The rate probably has a lot more to do with what the U.S./ China say, than any mathematical equation.

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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

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 wha

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

Hi,

Does anyone have a link for last years budget 2010?

Thanks,

Emerald

Emerald, that was not a silly question regarding the budget. There was a budget passed. See below for an article written by Adam Montana:

Iraq 2010 budget approved!

Adam Montana

FINALLY some good news for us Dinar Currency speculators! I’m extremely interested to hear what the number crunchers in the crowd are going to have to say about this one, for several reasons. The Iraqi federal budget has been held up by debates for several weeks, primarily for political reasons.

I mentioned months ago that the budget was going to be a big issue, and not for economic reasons… for political reasons. Political reasons such as Prime Minister Maliki’s upcoming electoral opponents wanted to make sure he was not able to use any state resources to fund his March 7 election campaign… the plot thickens, as always!

After what seems like a hundred years of sissy-footing around, the Iraqi parliament passed a 2010 federal budget earlier today (Tuesday January 26 2010) that puts federal spending at $72.4 billion (84.7 trillion Iraqi Dinars). The budget also sets a deficit this year of $19.6 billion (22.9 trillion Iraqi Dinars).

Iraqi government income is estimated at about 62 trillion Iraqi Dinars ($53 billion), 95% of which is from crude oil exports. Here’s where the number crunching comments should start: Iraq’s current and projected crude oil exports.

Also of note, the approved budget allows Iraq to seek a $4.5 billion arrangement with the IMF. This has been discussed before, and several times the IMF loans have fallen by the wayside. A trend I have noticed, however, is that when the IMF loan falls through, sometime in the near future an agreement is reached with one country or another that Iraq owes money to. Some debt is forgiven, investment opportunities are arranged for the country that forgives the debt, and Iraq walks away with a stronger foundation upon which to build a secure and financially successful future.

I’ll be keeping an eye on things, stay tuned!

-Adam Montana

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I am about to do what I hate when others do it.

Yet, it is TRUE and I guess we will see with time.

On Jan 27th I was on a trip to Texas from S. Fla.

I am an ex commercial pilot and this man noticed my tags on my carry on baggage.

We started to talk and he knew an ex retired pilot friend of mine.

He himself is an ex chief pilot for a very large cargo airline. Anyway, I asked him if he knows anything about investing in the Dinar.

He said ohhh yeahhhh. I know guys in our governement and in Blackwater. (I know it sounds like bs but this is TRUE)

Anyway, he said "those guys are buying Dinar up and it will be a worth while investment."

It did bring my spirits up for a period of time. I wish I would know little and didn't read much and just had the temperment to sit back and wait.

This Dinar is like me waiting on a gold rush! It is driving me a bit nuts. For that reason I hope it does RV soon!

As always my best to all of you and THIS STORY IS TRUE but not sure how much weight it will have to any of you.

I SERIOUSLY DONT BS! Just no time for it in my life...

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Dabbagh: Government approves 2011 budget

Posted: February 6, 2011 by THE CURRENCY NEWSHOUND - Just Hopin in Iraqi Dinar/Politics

Tags: Council of Representatives of Iraq, Iraq, Iraqi dinar, Iraqi government, kurdistan, middle east, Politics of Iraq, World Bank

0

Currency Newshound: The article is great news….Shabibi (CBI) gets his way…Iraq will receive loans from the IMF and World bank rather than the CBI

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.

Read the rest of this entry »

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I am about to do what I hate when others do it.

Yet, it is TRUE and I guess we will see with time.

On Jan 27th I was on a trip to Texas from S. Fla.

I am an ex commercial pilot and this man noticed my tags on my carry on baggage.

We started to talk and he knew an ex retired pilot friend of mine.

He himself is an ex chief pilot for a very large cargo airline. Anyway, I asked him if he knows anything about investing in the Dinar.

He said ohhh yeahhhh. I know guys in our governement and in Blackwater. (I know it sounds like bs but this is TRUE)

Anyway, he said "those guys are buying Dinar up and it will be a worth while investment."

It did bring my spirits up for a period of time. I wish I would know little and didn't read much and just had the temperment to sit back and wait.

This Dinar is like me waiting on a gold rush! It is driving me a bit nuts. For that reason I hope it does RV soon!

As always my best to all of you and THIS STORY IS TRUE but not sure how much weight it will have to any of you.

I SERIOUSLY DONT BS! Just no time for it in my life...

Was his name Eddie?

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Budget approved just fantastic & about time but

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

Not so good

Why are they still asking for handouts, haven’t the world given them enough already, its time to say NO STAND ON YOUR OWN 2 FEET IRAQ & GET ON WITH IT.

There are many other countries in this world that ask for help or handouts but get nothing however Iraq only has to tilt there cap & the funds just pour in like a flowing tap

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OK GUYS I HATE TO BE SLOW BUT IF THEY ARE USING THE CURRENT RATE FOR THE BUDGET COULD THIS POSSIBLY MEAN THAT THEY DON'T PLAN TO RV THIS YEAR? WHY WOULDN'T THE BUDGET REFLECT A NEW RATE? :unsure: WE ARE GETTING EXCITED AND RV COULD STILL BE A YEAR OR TWO OFF...

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Similar news:

http://tinyurl.com/6kabx6j

Sumerian news/Baghdad

The Iraqi Government has passed a budget this year Sunday, unmodified after increasing three billion dollars to become worth 81 $ 9.3 billion, with a deficit worth $ 13.3 billion, a Government spokesman confirmed that the Cabinet Finance Minister grants authority to borrow from the World Bank and IMF.

And the Iraqi Government spokesman Ali Dabbagh said in an interview for "Sumerian news," the Cabinet of Ministers approved at an extraordinary session, held on Sunday, to counterbalance the year 2011, valued 96.6 trillion dinars ($ 81.9 billion), after you make modifications and the addition of three billion dollars. "

Dabbagh said that "balancing operational expenses included, i.e. salaries and wages in particular, rose $ 56.4 billion, while capital spending of $ 25.4 billion, total income estimated 68.6 billion dollars on the basis of the export of 2.2 million barrels per day at $ 76.5 barrel including 100,000 barrels of Kurdistan".

Dabbagh said that "the value of deficit 15.7 trillion dinars ($ 13.3 billion), which will be covered from recycled surplus amounts in the balance 2010, internal and external borrowing and savings realized from increasing oil prices."

In another context Dabbagh said that "the Council of Ministers the granting of Finance Minister Rafe Al-Issawi power to borrow $ 4.5 billion from the IMF, and $ 2 billion from Bank".

Cabinet decided, at its regular meeting, held on 26 September, to approve the allocation of $ 900 million to buy aircraft F 16, on the amendments in the budget bill for fiscal 2011, also agreed to amend a barrel to $ 76.5 million establishments and 200,000 barrels per day.

Cabinet approved early last month, the general budget for the year 2011 deficit of $ 12 billion will be borne of amounts recycled last year budget and borrowing both internally and externally, stating that the projected revenue estimated at $ 66.7 billion expenditure amounted to 78.7 billion, or $ 12 billion dollar deficit, as the computation of income from export of crude oil at a rate of 37 per barrel averaging 2 to 250 thousand barrels per day, including 150,000 barrels of crude oil exported from Kurdistan.

Sumerian news was received, last month, the amended version of the draft general budget law of the Federal Republic of Iraq to FY 2011 final amended after adding speculative cost hosting Arab Summit in Baghdad.

Bill amended to keep federal public budget revenue estimates for FY 2011 amount former (78.705.237.500.000) BD (seven hundred seventy-eight tirlion five billion two hundred and thirty-seven million five hundred thousand dinars) as key accounts, but the increase in budget deficits and expenditure so allocated $ (94.295.059.613.000) tirlion (ninety-four hundred and five thousand and ninety billion and fifty-nine million, six hundred and thirteen thousand dinars for FY 2011 parses as (field 3 total expenditures) (table b expenditure by ministries) of the Act.

The draft budget before the amendment stipulates that are allocated an amount of (92.980.582.970.000) two ninety nine tirilion and 180 billion, eight hundred and fifty million, and seven and ninety thousand dinars for FY 2011 parses as (field 3 total expenditures) (table b expenditure by ministries) of the Act.

As Bill calculation of revenue resulting from the export of crude oil on the basis of the average price of $ 73 a barrel, and the average export capacity (2250000) barrels per day ($ 150,000) barrels on income derived from crude oil exports by province of Kurdistan.

The Bill also provided that ministries and bodies that are not linked to the Ministry by being "closer" all amounts of cash grants, obtained under agreements with foreign Governments or institutions, as income to the federal Treasury and the Federal Ministry of finance for reassignment for purposes which have been granted, in coordination with the Federal Ministry of planning.

The project must be credited all amounts of cash that you get ministries and bodies that are not linked to the Ministry and irregular provinces province, after acceptance of the Cabinet, whether from foreign sources, Federal Minister of finance to the Federal Minister of finance for allocation of funds of the Ministry or the non-Exchange Department in accordance with the purposes for which was granted.

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The operational budget amount is scary :lol: think they could have made it 66.7 or something.

YES, i see that. But its great news, now lets move on to the next thing that will get us to an RV.......

Were getting closer I hope.

It would be a good day to rv

GO RV

GO PACK

Yes go RV, and great game you guys played well......Steelers fan 4 life :D

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Good news...borrowing money at this point is irrelevant to the RV, if they RV the amount to pay back is not an issue any more, and probably has to do with back room deals between Iraq/WB/IMF et al...but who knows...

RV will probably occur when it appears least likely to...JMHO though...

GO RV emot-woot.gifemot-woot.gifemot-woot.gifemot-woot.gif

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Praise God! Let's hope that we don't read something different tommorow. I am ready to move forward and get off of this emotional and confusing ride. Thanks for the info. :twothumbs:

I believe that this will be a very busy week in the news for the Economy of Iraq. Parliament will pass the budget, does anyone really think that they wont? Can you say Riot? The budget is done. Now they can start to move. Watch this week lots of news coming. I can just feel it. JMHO :)

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Someone correct me if I am wrong but the Counsel of Ministers can approve it, doesn't it still need to be approved and ratified by parliament correct?

Exactly. The budget has been approved "in committee" for lack of a better term.

Still has to be read 3 times in parliament, voted on (hopefully approved), and published in the gazette.

OK GUYS I HATE TO BE SLOW BUT IF THEY ARE USING THE CURRENT RATE FOR THE BUDGET COULD THIS POSSIBLY MEAN THAT THEY DON'T PLAN TO RV THIS YEAR? WHY WOULDN'T THE BUDGET REFLECT A NEW RATE? :unsure: WE ARE GETTING EXCITED AND RV COULD STILL BE A YEAR OR TWO OFF...

If they were to RV, all they would have to do is change the numbers.

The percentages would remain the same, just with new rate.

They know their GDP (at least a decent ballpark) since oil is currently their only source of revenue and is sold in USD.

I never suspected the budget would reveal the RV.

So change the rate, adjust the numbers leaving the percentages alone.

JUST DO IT ALREADY!!!!

DO IT NOW!!!!!!!

:lol: :lol: :lol:

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Amazing how quickly a child will take chewable Tylenol after you explain the mechanics of Tylenol suppositories..... :lol: :lol: :lol: ha ha ha ha ha ha

These children (politicians) have been given the suppository speech. (Egypt, Yemen, Tunisia..etc) :huh:

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Amazing how quickly a child will take chewable Tylenol after you explain the mechanics of Tylenol suppositories..... :lol: :lol: :lol: ha ha ha ha ha ha

These children (politicians) have been given the suppository speech. (Egypt, Yemen, Tunisia..etc) :huh:

Now thats a nice way to put it!

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