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 "Altercations" - Thurs. AM KTFA Thoughts/News  1/24/19 DinarDailyUpdates?bg=330099&fg=FFFFFF&anim=1

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"Altercations" - Thurs. AM KTFA Thoughts/News 1/24/19

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Post by Ssmith on Fri Jan 25, 2019 10:11 am


2Cents » January 24th, 2019

Well......After all the excitement of yesterday and anticipation for today, Parliament is once again dysfunctional.....Had to delay for a half hour because they could not get a quorum and then 168 finally decided to stroll in only to get into verbal altercations resulting in Halbousi having to adjourn......

Mahdi apparently did not come to Parliament as anticipated and reported yesterday......The Minister of Education issue was not resolved and the Minister of Justice was not voted......

We know that there is agreement to postpone the Interior and Defense Ministers to next session and allow these to be managed by proxy until the end of June.....

There is no projected next meeting and this may have been their last session until March or even April.....They are debating on taking one or two month holiday..........I am glad the CBI is independent.....

The good news is that Saleh and Mahdi are both commending Parliament on their work on the budget and then passing it yesterday. We saw that they did not pass Article 14.....that is apparently not going to be an issue based on responses so far.......

Don961 » January 24th, 2019

B $ 56 per barrel of oil .. Budget is the largest in Iraq, including 4 trillion debt interest

Thursday 24 January 2019

Baghdad - Writings

The Iraqi parliament approved a budget, the largest in the history of Iraq with revenues of one hundred and five trillion and 569 billion and 686 million and 870 thousand dinars.

The budget, which the parliament voted on until late on Wednesday, 23 January 2019, set the price of a barrel of oil at $ 56 dollars export rate of 3 million and 880 thousand barrels per day, including 250 thousand barrels per day only of oil in the Kurdistan region. Calculation of the dollar exchange rate of 1182 dinars per dollar.

The new budget imposed on all parties, bodies, ministries and governorates, all cash grants received from foreign institutions or government as final revenue to the state treasury, and then disposed of through the Ministry of Finance.

While the expenditures were set at 100, 33 trillion, 107 billion, 616 million and 412 thousand dinars, including the internal and external debt of 10 trillion and 792 billion and 690 million and 780 thousand dinars, which is due in 2019.

Including 33 trillion and 48 billion and 506 million and 408 thousand dinars for projects, including 5 trillion 671 billion and 236 million dinars foreign loans and 444 billion and 432 million dinars loan from the Iraqi Bank for Trade to finance those projects.

The item of current expenditure includes 100 trillion, 59 billion, 110 million and 4 thousand dinars, including the repayment of debts with interest of 4 trillion and 534 billion and 73 million and 555 thousand dinars.

The budget documents revealed that the Iraqi government received 22 loans from foreign parties, Japanese, British, American, Saudi, Kuwaiti, Swedish, German, Italian, French and other international bodies.

It is remarkable that any project financed in Iraq from the loans of those external parties is exempt from taxes and customs, which causes the slowdown of the chances of repayment without further benefits!

It is enough to know that JICA alone will finance projects in Iraq in 2019 with a loan of $ 756.1 million distributed as follows: $ 265 million for Ministry of Housing projects, $ 223.1 million for electricity, $ 100 million for transportation, $ 75 million for Kurdistan Electricity Projects, 40 $ 20 million for health and the environment, $ 14 million for industry and minerals, $ 10 million for municipalities, $ 4 million for communications and $ 5 million for water resources.

As well as 330 million dollars from the British Export Finance Agency as a loan to finance the infrastructure, 200 million of them to desalinate the water of Basra, 100 million for the projects of "Hilla" in Babil province and $ 30 million for the clearance of mines in Nineveh province.

As for the purchase of arms, arms and logistics, there is a loan of $ 916 million, including $ 600 million to the Ministry of Defense, $ 146 million to the Interior Ministry, $ 80 million to the popular crowd and 80 to the Counter-Terrorism Bureau.

"Writings" published the full text of the budget, which exceeded the number of words 19 thousand words. Download [1.23 MB]

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