Finance Committee decided not to re-balance the gov/t despite the continuing decline of oil prices

Well I see this as good news. They are taking things seriously and do not want to over estimate their revenues in light of the falling price of oil. Such a fall in prices is unprecedented, and they are taking the time to make sure they get it right.

I don't blame them- They've got alot riding on this-

I don't see this as good news at all.

First of all, they only have enough income to the budget to fund 80% of the allocated monies.  And that was at $60 bbl.  We are now under $50 bbl and dropping.  That's just less income than projected coming into the budget on top of the built in deficit.

The fact that they even talked about sending the budget back to the government for reworking is a good sign I guess.  But in the end, they decided to go ahead with a budget that does not fund the expenditures and which is losing ground by the day.

I do not doubt that at some point this year the slide in oil prices will bottom out and begin to rise.  That is unless Iraq and Russia pump more oil into the glut and keep prices low.  But to assume that the price will rise back to $60 soon, or even better, to $80 in order to cover the deficit?  That's a huge gamble at best.

But perhaps the dinarland 'common wisdom' that there is a pile of money magically just laying out there for the government to grab in funding the budget is right.

It could happen...

May-be Maliki will slip into his pants and give the goi some pocket change lol

Taken in context of the other articles regarding the budget and finances I think they are doing the right thing. It seems like they are at least trying to anticipate revenues and adjust the budget accordingly. That is why I see it as good news. Are they low prices hurting them? Sure, they are hurting all of the producers. Only time will determine what the ultimate outcome will be. However, I will point out that all of this reveals the lie.