URGENT: ECONOMY / Iraq's 2011 Budget for 96 trillion (t) Iraqi Dinars - (US$85.7 billions (b) approx) passed

[pmaboy]

URGENT: ECONOMY / Iraq's 2011 Budget for 96 trillion (t) Iraqi Dinars - (US$85.7 billions ( approx) passed: 2/21/2011 9:51 AM

BAGHDAD / Aswat al-Iraq: Iraq's State Budget for 2011 has recorded 96 trillion (t) Iraqi Dinars (US$85.7 billions ( approx), with a deficit of 15 trillion (t) dinars (US$13.4 billion ( approx), along with abolishing of the personal benefits for the country's three leading Presidencies, i.e.

the Presidency of the Republic, the Prime Minister's and the Parliament's special allocations, Parliament Speaker, Usama al-Nujeify said on Sunday.

"The 2011 Budget has reached 96 trillion (t) Iraqi dinars (US$85.7 billion ( approx), with a deficit of 15 trillion (t) dinar (US$13.4 billion ( approx)," Nujeify told a news conference, attended by Aswat al-Iraq news agency, adding that "the thing that had been noticed about the new budget had been the complete cancellation of the social benefits for the three Presidencies, the supporing of employment, investment, the Rational Card, the development of Iraq's different Regions with allocations deducted from the commissioning allocations, reaching 4% of the budget, i.e.

3 trillion (t) dinars," Nujeify said.

The Parliament Speaker pointed out that "the current policy is concentrating on the reduction of commissioning costs, the increase of the investment allocations, along with the financial support for the government's "Rationing Card," contents of which would be distributed fully on all citizens.

The Iraqi parliament on Sunday had unanimously approved Iraq’s federal state budget for the year 2011, ending its session to convene on Monday after voting over all items in the budget, an Iraqi legislator said.

“Debates over all the items of the 2011 state budget were completed in today’s (Sunday) session,” Ala'a Mikki, a lawmaker from al-Iraqiya bloc, told Aswat al-Iraq news agency.

The Iraqi cabinet had approved in a session on Feb.2 the final draft budget for the year 2011.

Ahmed al-Abbasi, a member of the National Alliance, had said on Sunday that the parliament voted over canceling all social benefits for the three top posts – the President, Prime Minister and Parliament Speaker.

He said the Pparliament also decided to distribute the 20% surplus from the budget over citizens in the form of grants.

LINK

[BanG]

Great Post! Just so you know though this was already posted........sorry.

[Soldier]

Great Post! Just so you know though this was already posted........sorry.

I don't think this was posted already....There have been many stating it was approved, but, this is first time I have sent it PASSED by parliament. This is what makes it law. I could be wrong though.

[tommyboy]

Does this meet that requirement of being posted in the gazette to become legal?

[Iraqbuck]

Okay so I would like to see the proof that the approval of this budget = RV.....LOL Let me see the "intel" on this one..LOL

[Dinerry]

THIS IS VERY EXCELLENT NEWS!!!!!!!!!!!!!!!!!!!!!

THANK YOU FOR POSTING IT!!!!!

My question is: 96,000,000,000,000 (96 Trillion IQDs) divided by 85,700,000,000 (85.7 BILLION USDs = RV of 1.1201866

Which is very nice!!!!!

I am so ready to kick my bills to the curb!!!

GO RV!

[puff26]

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You are here: Home / another site Tidbits / * AK News: Parliament ratified 2011 Iraqi budget (Details Given)

* AK News: Parliament ratified 2011 Iraqi budget (Details Given)

February 21, 2011 By Fred Wilson Leave a Comment

Monday, February 21st 2011 9:00 AM

Erbil, Feb.21 (AKnews)- A Kurdish deputy said Iraqi 2011 budget was ratified at 82,006,000,000 U.S. Dollars Sunday, based on the $ 76.50 for one barrel of oil and export of 2.2 million barrels per day. He added all financial demands of Kurds were fixed in law.

Said Rasul Khonshnaw told AKnews the bill which contained 48 articles was finalized Sunday, adding $ 25.7 billion is devoted to 2011 investment.

As for reimbursing the oil exploring foreign companies in the Kurdistan Region, some $ 2.05 billion has been set in the budget law, according to the lawmaker.

Earlier the Iraqi government did not recognize Kurdistan oil contracts “legal”, therefore, it declined to reimburse the companies. However, Kurds pushed so hard through negotiations at high levels to convince the Iraqi part in this regard.

Kurds further demanded recognition of their armed forces as official and hence required budget for them. “All Kurdish financial demands were met in the budget,” the Kurdish lawmaker said, without giving further details.

Some 150 lawmakers, mainly from Sadr Current, had threatened in case 15% of the budget is not allocated specifically to the Iraqi public, they will not vote the budget. However, the budget was ratified by majority, though that term was not incorporated.

The budget deficiency for 2011 was estimated to be around $ 13.4 billion.

Iraq lies on the third crude oil reserve in the world and depends on the natural resource for 95% of its budget.

The squabble over power share in the newly formed government as well as disagreements over the share in budget contributed to the delay in 2011 general budget ratification.

The 2011 budget for Iraq is up from $ 71 billion in 2010

[lotsaleftpedal]

THIS IS VERY EXCELLENT NEWS!!!!!!!!!!!!!!!!!!!!!

THANK YOU FOR POSTING IT!!!!!

My question is: 96,000,000,000,000 (96 Trillion IQDs) divided by 85,700,000,000 (85.7 BILLION USDs = RV of 1.1201866

Which is very nice!!!!!

I am so ready to kick my bills to the curb!!!

GO RV!

You've got to remember your dealing with TRILLIONS of dinar vs BILLIONS of dollars.

96,000,000,000,000 divided by 85,700,000,000 = 1,120.1866.

[deenar]

When is the money to be distributed to pay for all of the projects? They better get a move on.