March 1 Implementing the Budget

Iraq decides to release the budget early next month

Posted: February 24, 2012 in Iraqi Dinar/Politics, Top Headlines
Tags: Baghdad, Budget, Council of Representatives of Iraq, Iraq, Iraqi dinar, Kurdish people, Politics of Iraq

Baghdad, February 24 (Rn) – The Iraqi Ministry of Planning and Federal, on Friday, it will launch a budget in 2012 in the first of the month next to the ministries for the purpose of accelerating the implementation of important projects.

And approved the Iraqi government in its emergency meeting in (05/12/2011) budget in 2012 by $ 100 billion (about 117 trillion Iraqi dinars) and a deficit of up to $ 13.5 billion (about 17 trillion dinars).

The Iraqi Council of Representatives has approved a budget yesterday evening in 2012 after being held by a number of changes, notably raising the social benefits worth $ 100 billion.

The Minister of Planning Ali Shukri, told the Kurdish news agency (Rn) that “the Ministry of Planning decided to launch the budgets of ministries and provincial councils in the first of March in order to speed up the implementation of the budget.”

“The parliament’s approval of the budget in the second month of the year will contribute to the exchange of budgets on a regular basis by ministries and agencies and provincial councils.”

..(I THNK THEY ARE STARTING A NEW FISCAL YEAR NOW AND ENDING NEXT FEB, IMPORTANT BECAUSE THEY SAID THEY WOULD NOT RV UNTIL A NEW YEAR STARTED...THEY JUST MADE HEIR OWN DATES)..PrudenceArt Opinion

He explained that “the government measures contribute to address many of the problems and obstacles facing the implementation of the budget on the ground and most of those measures direct coordination between planning and other ministries.”

The protesting citizens on an ongoing basis on the lack of basic services that have not been able to successive Iraqi governments have provided despite the passage of nearly nine years to overthrow the former regime.

And ensure the activation of the budget in 2012 granting financial loans to citizens for the purposes of housing and farmers without financial benefits which may make them a way to find real solutions to the housing crisis and revitalize the agricultural sector.

And the expected adoption of the budget release 59 thousand degrees and across functional ministries and government institutions, which means to reduce unemployment rates in the country, which according to official sources, up to 15%, but a civil and international organizations say that the ratio is greater than that.

http://bit.ly/w2pCtP

I agree the rv has nothing to do with the budget. the budget is based on approved on 100 billion us dollars. SO if they RV then that only means that it takes less than the 117 trillion dinars to reach the 100 billion. I like the fact that forever they were not moving quickly and now they seem to have some pep in their step. In fact the article does not say theu are changing their fiscal year only that this will lead to exchange of the budgets on a regular basis.

What some of these folks in Iraq have not said, is, They absolutely had to pass this budget or just shut up and go home. When last I looked the CBI had a reserve (USD) of 90 billion... they just passed a 100 billion (USD) budget... where is the money going to come from... yep, the RV, cause there ain't no where else to go. Dr. Shabibi is NOT going to break the bank to implement the new Budget, on this you can rely. Then we come to, Iraq needs to have a tradeable currency to be part of the WTO, and to rebuild Iraq, and to promote business and investment in the country... in other words, Iraq is going to have to come out of the dark ages and into the light of the real world, and do it now, before they become president of OPEC, and attend all the conferences they have planned... Iraq has the resources and the natural wealth to do everything it needs to do. And what do we all think the rate will be... well obviously it cannot be lower the the USD or the people will just ignore the Dinar... they are already using USD and they know its value... to give the people something less then what they already have is stupid and useless, and it won't fly. Iraq needs a currency value of at least $3.60 to get anywhere, and if its going to beat Kuwait (already at 3.60) then Iraq is going to have to add a bit more to the pot, like 3.85 - 4.20, somewhere in that neighborhood... its just a guess on my part but looking at their infrastructure needs, the needs of the people and the ability to trade globally Iraq has got to stand up on its feet and become a real nation, and very, very soon.
Its all good, no matter what the outside picture looks like...

They are sovereign now...i think they do need to act on this....

for the western world they moving slow but remember they are in the middle east and for them this is fast. but in reality they have really picked up the pace and still say they want to look good for the summit

Lets hope the summit is our final destination

I'm with you on that Punisher. They need to save face and to walk into the summit with an 1170 rate would be a total failure and embarrassment. Arabs take insult and embarrassment way more seriously than westerners. My guess is the RV will take place just before or announced at the summit. JMO.

PGLD wrote:I'm with you on that Punisher. They need to save face and to walk into the summit with an 1170 rate would be a total failure and embarrassment. Arabs take insult and embarrassment way more seriously than westerners. My guess is the RV will take place just before or announced at the summit. JMO.

PGLD wrote:I'm with you on that Punisher. They need to save face and to walk into the summit with an 1170 rate would be a total failure and embarrassment. Arabs take insult and embarrassment way more seriously than westerners. My guess is the RV will take place just before or announced at the summit. JMO.

I have had that idea in the back of my mind for a couple of weeks now, That Middle East EGO thing, mine is as big a yours.

DevaronDLH wrote:What some of these folks in Iraq have not said, is, They absolutely had to pass this budget or just shut up and go home. When last I looked the CBI had a reserve (USD) of 90 billion... they just passed a 100 billion (USD) budget... where is the money going to come from... yep, the RV, cause there ain't no where else to go. Dr. Shabibi is NOT going to break the bank to implement the new Budget, on this you can rely. Then we come to, Iraq needs to have a tradeable currency to be part of the WTO, and to rebuild Iraq, and to promote business and investment in the country... in other words, Iraq is going to have to come out of the dark ages and into the light of the real world, and do it now, before they become president of OPEC, and attend all the conferences they have planned... Iraq has the resources and the natural wealth to do everything it needs to do. And what do we all think the rate will be... well obviously it cannot be lower the the USD or the people will just ignore the Dinar... they are already using USD and they know its value... to give the people something less then what they already have is stupid and useless, and it won't fly. Iraq needs a currency value of at least $3.60 to get anywhere, and if its going to beat Kuwait (already at 3.60) then Iraq is going to have to add a bit more to the pot, like 3.85 - 4.20, somewhere in that neighborhood... its just a guess on my part but looking at their infrastructure needs, the needs of the people and the ability to trade globally Iraq has got to stand up on its feet and become a real nation, and very, very soon.
Its all good, no matter what the outside picture looks like...

Excellent wisdom, Devaron. Thanks for sharing here. Agreed!