Based on upcoming budgets, IQD exchange rate approx $1.16; Committee members calls for CBI study

 Based on upcoming budgets, IQD exchange rate approx $1.16; Committee members calls for CBI study

Posted: July 30, 2013 in Iraqi Dinar/Politics
Tags: Chapter VII of the United Nations Charter, Committee, exchange rate, Finance Committee, Gross domestic product, Iraq, Iraqi dinar, Jordanian dinar
Finance Committee: 2016 budget will exceed 188 trillion dinars
30/07/2013
BAGHDAD / JD / .. announced the Finance Committee in the House of Representatives that the 2016 budget will be more than 188 trillion dinars.

Committee member said Magda al-Tamimi told the reporter / JD / within the Committee prepared for the budgets of Iraq strategy for the years 2014, 2015 and 2016 to be identified last year’s budget up to 188 trillion and 188
billion dinars.

It showed that the total expenditure will be up to 178 trillion and 316 billion, noting that specified for the deficit in 2016 would be around 10 trillion and 567 billion dinars, or 3 percent of GDP.

And hinted Tamimi, he was awarded a price of a barrel of oil in 2016 up to 90 dollars per barrel, while the estimated quantities of oil production by 4.65 million barrels per day, noting that the exchange rate of the dollar will be up to 1.16 dinars per dollar.
The Finance Committee has announced that the 2015 budget will be increased by 157 trillion and 285 billion dinars

Said committee member Magda Tamimi in an earlier statement to the reporter / JD / he was forming a committee to prepare a budget strategy for the coming years, including the budget 2015 will be the total revenues have increased by 157 trillion and 285 billion dinars, while it will be the total expenditure of $ 168 trillion and 837 billion.

She added that the deficit in the budget year will be mentioned by 11 trillion and 552 billion, noting that he will be calculated per barrel of oil at $ 90 in quantities of oil source is estimated at 3.85 million barrels per day.

And alerted Tamimi that calculating the exchange rate of the dollar will be increased by 1.16 dinars, pointing out that the Commission had not received the report of a central location around the dinar exchange rate against the dollar, prompting the Commission to adopt the exchange rate on previous years and such a thing is not permitted at all.
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Alternate translation:


Baghdad/JD/…The Finance Committee in the Chamber of Deputies budget in 2016 will be more than 188 trillion dinars.
The Committee Member said Majida Al-Tamimi told reporter/JD/that the Committee in preparing the budgets of Iraq strategy for years to 2014, 2015 and 2016 identified budget last year to be around 188 trillion and 188 billion dinars.
The total expenditure would be around 178 trillion and 316 billion, referring to the deficit limit for 2016 will be around 10 trillion and 567 billion or 3 percent of GDP.

Tamimi, indicated that the price of a barrel of oil was calculated for 2016, up to 90 dollars a barrel, while oil production quantities were estimated at 4 million and 650,000 barrels per day, noting that the exchange rate for the dollar would be around 1.16 Iraqi dinar to the dollar.

The Finance Committee has announced that balance the 2015 would amount 157 trillion and 285 billion dinars
The Committee Member said Majida Al-Tamimi told a former reporter/JD/Committee was formed for the preparation of the next strategic budgets including budget 2015 that total revenue would have increased by 157 trillion and 285 billion dinars, while the total expenditure would be increased by 168 trillion and 837 billion.

She said the budget deficit would be 11 trillion and 552 billion, noting that it will be charged per barrel oil price of $ 90 oil quantities source estimated at 3 million 850 thousand barrels per day.

Tamimi warned that calculating the exchange rate for the dollar would be increased by 1.16, noting that the Committee had not received the report of the Central on the dinar exchange rate against the dollar, which has prompted the Committee to adopt an exchange rate to previous years and such a thing is not at all.

http://bit.ly/130jaFm

This is pretty interesting!