Could the 2012 Budget be approved???

Maybe someone with more expertise on deciphering news out of Iraq can confirm or not, but see below in BOLD.



Found this on Currency Newshound...

http://thecurrencynewshound.com/2012/01/16/imf-calls-for-iraq-not-to-enact-laws-that-shackle-the-economy/

IMF calls for Iraq not to enact laws that shackle the economy


Posted: January 16, 2012 in Iraqi Dinar/Politics, Top Headlines
Tags: Budget, Economy of Iraq, Finance, House of Representatives, International Monetary Fund, Iraq, Law, Politics of Iraq

Revealed the parliamentary finance committee on Monday that the International Monetary Fund called for in his recent visit to Iraq, the House of Representatives not to enact laws that contribute to undermine the growth of the Iraqi economy, indicating that the legislation of laws increase the operational budget at the expense of investment irritated the International Monetary Fund.

A member of the parliamentary Finance Committee Najiba Najib’s “Twilight News” that “representatives of the International Monetary Fund in their recent visit to Iraq, met with the Chairman of the House of Representatives (Osama Najafi) and members of the Finance Committee and asked Council not to enact laws that hinder the growth of Iraqi economy.”

The Finance Committee of the House of Representatives unveiled in early December of last year, from the threat of the International Monetary Fund raised its support for Iraq in the next year in the event of non-compliance with its terms and the last observation, particularly the reduction of the operating budget.

Najib explained that “the IMF said that the increase in the investment budget will lead to many job opportunities, leading to reduce the size of unemployment in Iraq.”

It showed that “What irritated the International Monetary Fund is the continuing increase in the operating budget at the expense of investment and this is what was noted also in the budget in 2012.”

The Iraqi government has approved the federal budget for 2012, worth U.S. $ 100 billion, an increase of 22 percent from the previous year.

The government has allocated the largest proportion of its budget for the energy sector, accounting for 17.48 percent of the budget group, followed by security and defense by 14.6 percent, and social services 13.28 percent.

The IMF does not like Iraq to continually increase the cost of running the government, but wants them to increase the funds used for investments.
Sound like they should be really ticked off at the US.

Its one thing to approve the budget... How are they going to pay for it?
Dr. Shabibi si not going to give up the $$$$ he has stuffed in the CBI, so where exactly is the money coming from?
Plus, you have to know the budget is just the starting point for the coming year expenses... it will be more, much more in the end.
All the more reason to RV the currency NOW.