Budget may not be approved until March 2012, Economists say

[jas428]

After approval of the Council of Ministers, not expectations of adoption of the federal budget by the end of next March.

07/12/2011 7:44 ص 12/07/2011 7:44 الإقتصاد , غير مصنف Economy , بغداد”البوابة العراقية” محمد شريف Baghdad, "Iraq's gate," Mohammed Sharif

في مثل هذا الوقت من كل عام تدخل الموازنة العامة مخاض الولادة المتعسرة بعد أن تضعها الكتل السياسية على طاولة التجاذبات السياسية ، وقد يمتد هذا المخاض لأربعة أشهر أو أكثر ، وبحسب توقعات بعض الاقتصاديين لموازنة هذا العام ، فان الاحتمالات ترجح تأخير اقرار الموازنة لهذا العام بسبب احتدام الصراعات الصياسية بين الفرقاء . At this time each year enter the general budget labor obstructed labor after the established political blocs on the table of political pressure, may extend this labor for four months or more, according to the expectations of some economists for this year's budget, the possibilities outweigh the delay in approving the budget for this year because of intense Chiasah conflicts between the parties.

وصوت مجلس الوزراء الاثنين على مسودة موازنة عام 2012، بقيمة 100 مليار دولار ” مايعادل 117 ترليون دينار” وبنسبة عجز بلغت 14.5 مليار دولار ، أي ما يعادل 17 تريليون دينار ” واعتماد سعر 85 دولار لبرميل النفط . The cabinet voted Monday on a draft budget for 2012, $ 100 billion dollars, "the equivalent of 117 trillion dinars," and by deficit amounted to $ 14.5 billion, equivalent to 17 trillion dinars, "and the adoption rate of $ 85 for a barrel of oil.

وقال عدد من الاقتصاديين “للبوابة العراقية” ان حجم التجاذبات السياسية سينعكس على عملية اقرار الموازنة ، وسيؤخرها ، فقد جبلت القوى السياسية على هذا الأمر سنويا . A number of economists, "the gate of Iraq," The size of the political pressure will be reflected on the process of approving the budget, and Saaka, the political power is inherent to this year.

وبلغ مجموع ايرادات النفط في هذا العام حتى نهاية تشرين الأول حوالي 69 مليار دولار ، لقاء تصدير 659.8 مليون برميل وبمعدل 2.2 مليون برميل يوميا ، في حين بلغ معدل سعر البرميل الواحد 104 دولار . The total oil revenues this year until the end of October, about $ 69 billion, in exchange for export of 659.8 million barrels and 2.2 million barrels per day, while the average price of $ 104 per barrel.

وكان مجلس النواب العراقي قد أقر الموازنة الاتحادية للعام 2011 بحوالي 82.6 مليار دولار وقدرت إيرادات الموازنة التي وصفت بانها الأكبر في تاريخ العراق بنحو 68 مليار دولار فيما قدرت نفقاتها بأكثر من 82 مليار دولار وبعجز بلغ نحو 15 مليار دولار. The Iraqi Council of Representatives has approved the federal budget for 2011 of about 82.6 billion dollars and the estimated revenue of the budget that has been described as the largest in the history of Iraq by about $ 68 billion in expenditures estimated at more than $ 82 billion and the deficit was about $ 15 billion.

وكانت وزارة النفط أعلنت خلال، شهر آذار الماضي، عن ارتفاع احتياط العراق النفطي باستثناء الاحتياطي الموجود في إقليم كردستان، مشيرة إلى أن احتياط العراق وحده بلغ 143 مليار برميل و129 تريليون م3 من الغاز. The Oil Ministry announced during, the month of March, a rise in Iraq's oil reserves, with the exception of the reserve is located in the Kurdistan region, noting that Iraq's reserves alone amounting to 143 billion barrels and 129 trillion m 3 of gas.

ووقع العراق، خلال العام الماضي 2010، عقوداً عدة مع شركات عالمية لتطوير بعض حقوله النفطية ضمن جولتي التراخيص الأولى والثانية، للتوصل إلى إنتاج ما لا يقل عن 11 مليون برميل يومياً، في غضون السنوات الست المقبلة، و12 مليون برميل يومياً بعد إضافة الكميات المنتجة من الحقول الأخرى بالجهد الوطني، وتركزت تلك العقود في غالبيتها على حقول الجنوب. Iraq has signed, during the last year, 2010, contracts with several international companies to develop some oil fields in the two rounds of licensing the first and second, to reach a production of at least 11 million barrels per day within the next six years, and 12 million barrels per day after the addition of the quantities of other fields of national effort, and focused most of those contracts in the fields of the South.

وأعلنت وزارة النفط الاسبوع الماضي عن تصاعد مستويات انتاج النفط الخام لتصل الى اكثر من (2,95 ) مليون برميل . The Oil Ministry announced last week that rising levels of crude oil output to reach more than (2.95) million barrels.

وقال وزير النفط عبد الكريم لعيبي ان معدلات الانتاج بلغت (2,95) مليون برميل .. The Minister of Oil Abdul Karim and coffee that the production rates of (2.95) million barrels .. مضيفا الى ان معدلات الانتاج ستصل قبل نهاية هذا العام الى(3 مليون) برميل يوميا . He said, adding that production rates will reach before the end of this year (3 million) barrels per day.

وكانت اللجنة المالية في مجلس النواب العراقي أكدت، قبل أيام ، أن موازنة العام 2012 ستصل إلى البرلمان خلال (الأسبوع الحالي) بعد أن تخفض وزارة المالية نسبة العجز فيها واعتماد سعر قدره 85 دولاراً لبرميل النفط، فيما رجحت أن تصل نسبة التخفيض إلى 115 تريليون دينار. The Finance Committee of the Iraqi Council of Representatives confirmed a few days ago, that the balance of 2012 will reach the parliament through (this week) after the cut and the Ministry of Finance, the proportion of the deficit and the adoption rate of 85 dollars per barrel of oil, while it likely that the rate reduction to 115 trillion dinars .

http://translate.google.com/translate?hl=en&prev=/search%3Fq%3Dhttp://www.albawwaba.net/todays-picture/61451/%26hl%3Den%26biw%3D1067%26bih%3D433%26prmd%3Dimvns&rurl=translate.google.ca&sl=ar&u=http://www.albawwaba.net/uncategorized/62220/

[Carrello]

"because of intense Chiasah conflicts between the parties."

I am not sure what Chiasah means in Arabic, but in English, Chiasah translates to Childish.

How do you put a timeline on conflict resolution?

[jas428]

My guess is that these economists are just basing their predictions on the length of time it has taken Iraq to approve anything else. Seriously, in over two weeks they have only approved 6 laws out of 90?? At this rate we'd be lucky to have the budget approved by March!

[Shelley]

"because of intense Chiasah conflicts between the parties."

I am not sure what Chiasah means in Arabic, but in English, Chiasah translates to Childish.

How do you put a timeline on conflict resolution?

And now Allawi showing back up onto the scene, I think more childish fighting to be expected !!!!

hey Carrello, I wrote to you on your profile yesterday ... I was a little depressed after reading her speech and nothing on Iraq

[caz1104]

I missed something I thought it said march of 2011. Thanks for the post

[redsand]

What about yesterday's article with Maliki, Shabibi, and Allawi, and every other fat cat hugging it out?. I AGREE WITH JAS. This is not written in stone.

"The Finance Committee of the Iraqi Council of Representatives confirmed a few days ago, that the balance of 2012 will reach the parliament through (this week) after the cut and the Ministry of Finance, the proportion of the deficit and the adoption rate of 85 dollars per barrel of oil, while it likely that the rate reduction to 115 trillion dinars ." This means THIS THURSDAY. I don't get why they are saying March. Is it based off of previous years delayed budgets?...probably. This year is going to be different with the RV anyway.

[Stryker365]

What about yesterday's article with Maliki, Shabibi, and Allawi, and every other fat cat hugging it out?. I AGREE WITH JAS. This is not written in stone.

"The Finance Committee of the Iraqi Council of Representatives confirmed a few days ago, that the balance of 2012 will reach the parliament through (this week) after the cut and the Ministry of Finance, the proportion of the deficit and the adoption rate of 85 dollars per barrel of oil, while it likely that the rate reduction to 115 trillion dinars ." This means THIS THURSDAY. I don't get why they are saying March. Is it based off of previous years delayed budgets?...probably. This year is going to be different with the RV anyway.

You are right REDsand, IMO, this is just some economists opinion based on last years budget.

There are so many different opinions from economist on the euro problems, as an example.

All they need is a vote but just a thought if they vote then they would need to publish it and wouldn't they need to fill in the new rate first? Timing could be everything.

Edited December 7, 2011 by Stryker365

[joseroque]

It appears he is saying that the budget for 2012 will most likely take another 4 months, which would take it to march, 2012. It's a bit hard to understand the translation. It would also make sense for them to RV soon so that the new budget is based on an RV'd dinar! If they do things right, that's how it should go down.

[Jeff Rasmussen]

2012 budget has been approved...see link below Go RV!!! Lets do this!!! Here piggy piggy piggy!!!! http://www.iraq-businessnews.com/category/banking-finance/

Edited December 7, 2011 by Jeff Rasmussen

[Nelg]

Are the articles below telling the same story or a different story?

IMO the budget HAS passed and the top two are "maybe" articles. These were all posted today.

Do we really have a way to find out?

At this time each year enter the general budget labor obstructed labor after the established political blocs on the table of political pressure, may extend this labor for four months or more, according to the expectations of some economists for this year's budget, the possibilities outweigh the delay in approving the budget for this year because of intense Chiasah conflicts between the parties.

Read more: http://dinarvets.com.../#ixzz1frQbk1Gm

Baghdad, December 7 (Rn) - The parliamentary Finance Committee, Wednesday, about the agreement between the House and the World Bank and the government budget in 2012 before final approval by the first day yesterday, is expected to vote on the budget without hindrance.

Read more: http://dinarvets.com.../#ixzz1frR3GT5g

Iraq Approves $100bn Budget for 2012

Posted on 07 December 2011. Tags: Budget

Iraq’s Cabinet has approved

a federal spending plan of almost.........$100 billion for 2012.

Read more: http://dinarvets.com.../#ixzz1frRXPY1x

[jas428]

Are the articles below telling the same story or a different story?

IMO the budget HAS passed and the top two are "maybe" articles. These were all posted today.

Do we really have a way to find out?

At this time each year enter the general budget labor obstructed labor after the established political blocs on the table of political pressure, may extend this labor for four months or more, according to the expectations of some economists for this year's budget, the possibilities outweigh the delay in approving the budget for this year because of intense Chiasah conflicts between the parties.

Read more: http://dinarvets.com.../#ixzz1frQbk1Gm

Baghdad, December 7 (Rn) - The parliamentary Finance Committee, Wednesday, about the agreement between the House and the World Bank and the government budget in 2012 before final approval by the first day yesterday, is expected to vote on the budget without hindrance.

Read more: http://dinarvets.com.../#ixzz1frR3GT5g

The budget has not passed. Cabinet approved it but it will be sent to Parliament this week. THEY are the ones who officially pass it. The articles referring to it being passed are simply stating that Cabinet has passed it and has sent it on tot he next level. It's a very lengthy process.

[Nelg]

The budget has not passed. Cabinet approved it but it will be sent to Parliament this week. THEY are the ones who officially pass it. The articles referring to it being passed are simply stating that Cabinet has passed it and has sent it on tot he next level. It's a very lengthy process.

Thanks. I was misreading the last one which stated the "Cabinet" had approved it. Should be more alert, but I'm getting old!