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IQD4US, is this the GREAT NEWS we wanted to hear!?!

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IQD4US, is this the GREAT NEWS we wanted to hear!?!

Post  Guest on Tue Oct 30, 2012 10:10 pm


"My Day" published details of the federal budget for 2013 and distribution sectors ratios


BAGHDAD - My Day

Announced government spokesman Ali al-Dabbagh that the Council of Ministers decided at its forty-sixth regular and held Tuesday 23 October 2012, approved a draft law the federal budget for 2013 of $ (138) trillion dinars, an increase of 18% from last year.

Dabbagh said that the total federal income amounted to (119.3) trillion dinars were the result of calculating the revenues from export of crude oil at an average price (90) dollars per barrel and export capacity of up to (2.9) million barrels per day, including the quantity produced and exported from the territory of Kurdistan and the (250 ) thousand barrels per day, where will oil revenues this Development Fund for Iraq after deducting (5)% for war reparations Kuwait has reached the investment budget (55) trillion dinars and the operating budget (83) trillion dinars distributed to institutions and ministries and state bodies all will be the distribution of expenditures General in accordance with the ratio of the population after excluding allocations of the federal ministry center and sovereign expenditure as shown in the following table:.

1 - Security and Defence 19.86 Trliuna 14.37

2 - Education 12.71 Trliuna 9.2

3 - Energy 29.45 trillion 21.31

4 - Environment and Health 6.82 trillion 4.94

5 - Social Services 17.7 trillion 12.81

6 - water, sewage and sanitation 4.2 trillion 3.04

7 - Transport and Communications 1.82 1.32 trillion

8 - agricultural sector 2.68 trillion 1.94

9 - the industrial sector 1.71 trillion 1.24

10 - Construction and Housing 1.57 trillion 1.14

11 - Culture, Youth and clubs and federations 2.22 trillion 1.61

12 - Obligations and international debt 10.3 trillion 7.45

13 - central public administrations and local 12.76 trillion 9.24

Dabbagh said: So appreciate the budget deficit b (18. trillion dinars will be covered by cash retained from the budget in 2012 and the Development Fund for Iraq and domestic borrowing by the treasury transfers and external, as well as from the savings expected from the increased sale prices of oil or increase production or borrowing from the Fund International Monetary and the World Bank, where will be empowered and Federal Minister of Finance the power to continue to borrow from the International Monetary Fund which complements the amount (4.5) billion and the World Bank which complements the $ (2) billion dollars during the year 2013 and using special drawing rights up to SDR (1. billion dollars to cover the projected shortfall in the federal budget.

Dabbagh said: that the share of the Kurdistan region has reached (14.3) trillion dinars, ie (17)% of the total operating expenses and expenses of the investment projects of the general budget of the Federal Republic of Iraq ratified the Kurdistan region after excluding sovereign expenditure and will be settled dues between the Territory and the federal government for years ( 2004 to 2012) and subsequent years after being examined by the Federal Office of Financial Supervision and coordination and cooperation with the Office of Financial Supervision of the territory no later than 15 October 2013.

Dabbagh said the allocation of the amount (250) billion dinars as a reserve to the government and $ (7.2) trillion dinars for reconstruction projects and the development of regions and provinces, including the Kurdistan region to be spent according to plans the reconstruction of the province submitted by the governor and approved by the Council of the province to the Ministry of Planning Federal where will the Governor exclusively implement reconstruction plan approved and take the provincial council responsible for monitoring implementation, may not make any transfers within these customizations between provinces will also be allocated (1.318) trillion dinars, called assignments petrodollars which the amount of dollars for each barrel of crude oil producer in the province or refined in refineries province and a dollar for every (150) cubic meters producer of natural gas in the province and the province to be used no more than (50)% of the allocations petrodollars to buy electric power and allocate revenues from visa to Iraq to visit the holy sites in 2012 for services visitors and infrastructure and according to the following schedule:

40% of Karbala 10% Baghdad / Kadhimiya 15% Saladin / Samarra, 25% of Najaf 10% Baghdad / Adhamiya.

And between-Dabbagh said the draft budget has included advertising in local newspapers for grades developed within owners in 2013 by the ministries and departments not related to the Ministry, where priority will be given to install contracts exception of age requirement for contractors in the past years to calculating the contract period as a service for the purposes of retirement and will be exempted of all citizens of the amount of interest on loans granted to them by the Land Bank, agricultural and housing fund and continue to grant these loans without interest to the citizens and by the souls of each province will be borne by the Ministry of Finance interest rate.

Al-Dabbagh said the Iraqi government and to support the industrial sector and private sector mixed Like initiative agricultural will be lending to projects Iraqi Federation of Industries and the mixed sector without interest and bear the Ministry of Finance to pay interest to the government banks and the Federal Minister of Finance reallocate the remaining funds and unspent amounts approved in the general budget Federal for the year 2012 relating to compensation provinces, cities and individuals affected to balance the beneficiary exclusively to conduct paid during 2013, an exception from the provisions (Section IV) of the Financial Administration Act and the Public Debt number (95) for the year 2004 and also has the right to use the approved amounts for the contingency reserve to pay the expenses of accidents emergency and unexpected reduction (3) billion dinars for each case either if the amount exceeds this limit must obtain the approval of the Federal Cabinet.

Dabbagh said: that the Federal Minister of Finance in coordination with the Minister of Planning Federal will reallocate the amounts related to the projects Emaar and assigning provinces ((Baghdad (Sadr and torch), Basra, Diyala and Nineveh)), which was launched amounts in the form of advances in 2008 for the purpose of adjustments Agaydip them within the budget year 2013 without incurring the actual exchange as well as the reallocation of revenue actually in land border ports, sea and air, including sovereign revenues during the year 2011 to balance the border provinces both by revenue actually at border crossing points in that province with priority rehabilitation and reconstruction of border crossings of each province.

Dabbagh said: the Minister of Planning to provide the rate of implementation of investment projects for each ministry or entity is linked to the Ministry to the cabinet in the absence of the implementation of a rate (25%) of the allocations of each project through the (6) months from the adoption of the budget For the Minister of Finance, in coordination with the Minister Planning to report to the Council of Ministers to determine the causes of the failure and the House of Representatives questioning the minister or the head of the non-related to the Ministry in the event of non-implementation of a rate (60%) of the investment allocations for the ministry or his department of the federal budget.

Dabbagh said that the Federal Cabinet will add allocations to federal budget for 2013, when achieved an increase in revenue from exports of crude oil exported through the first six months of this year to pay off the deficit planned budget and securing funds for investment projects of the Ministry of Electricity after approval by the Ministry of Planning Federal addition to amounts imported electricity and reimburse the private sector before 04/09/2003 and loans granted by the government banks for salaries of employees of public companies for 2010, 2011 and 2012, loans granted by the government banks to buy barley crop for 2010 and amounts to support the affected governorates (Diyala and Nineveh) and the amounts relating to the general census of population will be borne by the Ministry of Finance the amount of interest the (4%) of the total loans granted to residential بسماية project.


http://www.beladitoday.com/index.php?aa=news&id22=20587

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Re: IQD4US, is this the GREAT NEWS we wanted to hear!?!

Post  Guest on Tue Oct 30, 2012 10:12 pm

Expectations for the stability of the exchange rate of the dinar against the dollar b 1189

on 10/30/2012 | Author Muhannad David |




Righteousness electronic / Baghdad



Analysts had expected the money, the central bank's ability to reduce the value of the U.S. dollar against the Iraqi dinar in the coming period, stable price (1189) dinars .



The specialist said: that the central bank strives to reduce the value of the dollar against the dinar more during the coming period, and possibly up to the price (1189), which aspires to him central, and maintain the stability of the dinar .



And between: the price of the dollar against the dinar during the past six months non Mstqrhh, it swings between high and low, indicating that monetary policy in the country is facing major challenges .



Confirmed: that the central bank has proven its success and its ability to maintain the value of the national currency in lost these pressures .



The central bank allowed for (25) private banks to sell the dollar according to certain controls, and gives each bank weekly million (250) thousand dollars at the (1179) and sold to citizens at (1189) that the ratio of profit banks (10), JD to create a balance between the amount of currency displayed and the size of the growing demand to maintain the value of the dinar against the dollar .


http://www.alestiqama.com/news.php?cat=business&id=1428

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Re: IQD4US, is this the GREAT NEWS we wanted to hear!?!

Post  IQD4US on Wed Oct 31, 2012 1:34 am

I put out the "lengthy versio" on Friday - but that first article is right on target. says the same. only neater.

The second one had the study/report on it done much earlier in the year. and it has been done several times but different groups - the conclusion the same - their value is stable and steady. But we knew this. Just every time it moves up the ladder - someone wants to "study" it.

Now we swtill wait for them to join the rest of the world....I still don't see it happening before Jan.....but it is indeed along positive signs.


Last edited by IQD4US on Wed Oct 31, 2012 1:36 am; edited 1 time in total (Reason for editing : tired - poor spelling)
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Re: IQD4US, is this the GREAT NEWS we wanted to hear!?!

Post  Guest on Wed Oct 31, 2012 9:22 am

Thanks for your view....well then come JANUARY Smile

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