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Post by p71rock Wed Sep 21, 2011 10:48 pm

Suspect When I was doing research to find the date for the GOI FY21xx begins. I came acrossed this document on the IMF we site dated February 8, 2010
by Dr. Sinan Al-Shabibi -- Minister of Finance of Iraq Governor -- Central Bank of Iraq

I used the FIND: government and read the sentences around that word.

http://www.imf.org/external/np/loi/2010/irq/020810.pdf

page 7 (6)
We have adopted a budget for 2010 that aims to further reduce non-priority current outlays
and align the investment budget with our national priorities and implementation capacity. We
seek to reduce the government’s budget deficits during 2010 and 2011, with a view to
returning to a budget surplus in 2012. [GOI NOT BANK] :study:

page 16 (17) Read that dates that are posted in this list... :afro:

Also while looking I found this information... it made me think Hummm!...
http://en.wikipedia.org/wiki/Iranian_calendars see order 7 then http://en.wikipedia.org/wiki/Bhaga :surprised:

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Post by WilliamB Thu Sep 22, 2011 1:14 pm

so if i'm getting this, then the calender year can start on pretty much any month...hmmm????

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Post by therealbutterfly Thu Sep 22, 2011 4:16 pm

Why do we care about Iran's calendar?
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Post by WilliamB Thu Sep 22, 2011 4:26 pm

Well i was being a little more open minded and thinking more along the lines that it's the middle east in general

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Post by therealbutterfly Thu Sep 22, 2011 5:29 pm

Ok, thats fine but the fact is they dont change their fiscal year. Its always Jan 1 every year. They might have a different religious calendar they follow but they wont change how they run their business. It would mess up things with how they function with the world.
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Post by 4courseDinar Thu Sep 22, 2011 11:39 pm

therealbutterfly wrote:Ok, thats fine but the fact is they dont change their fiscal year. Its always Jan 1 every year. They might have a different religious calendar they follow but they wont change how they run their business. It would mess up things with how they function with the world.

OK...here is what BUSINESS and GUMMIT set as the fiscal year...IT STARTS ON OCT.1

The physical Year starts on Jan-1. ( calendar year)

Breakin' it on down ...The year 2012 starts officially as pertaining to matters financial, on Oct. 1st-2011 thru Oct.1st - 2012.

This is the way the rest of the world does business / banking...but the reasons are very simple. It is so they can do the financial statements of each division of government.

Now that might well be a serious topic for research. SEE IF...the GOI publishes a Comprehensive Annual Financial Statement? Also a Financial Prospectus for 2012.

Geez...I wish I had more time but this is for someone else to attempt. I am up to my ears in work.

Later folks!

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Post by therealbutterfly Fri Sep 23, 2011 5:42 am

4coursedinar You must still be referring to the US fiscal year since thats Oct 1. Iraq runs on a calendar year, Jan 1.


http://cbi.iq/documents/banking_law_f.pdf (page 31)

http://www.nationmaster.com/graph/eco_fis_yea-economy-fiscal-year

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Post by 4courseDinar Fri Sep 23, 2011 8:47 am

therealbutterfly wrote:4coursedinar You must still be referring to the US fiscal year since thats Oct 1. Iraq runs on a calendar year, Jan 1.


http://cbi.iq/documents/banking_law_f.pdf (page 31)

http://www.nationmaster.com/graph/eco_fis_yea-economy-fiscal-year


I suppose but that isn't the way Banks do it. They seem to everything differently over there.

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Post by p71rock Sat Sep 24, 2011 11:26 am

The Constitution of Iraq states the Bank not the GOI please read again.

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Post by 4courseDinar Sat Sep 24, 2011 12:47 pm

I don't doubt they may well have a different way to do things. I have been involved with all manner of international dealings and always the Fiscal year was Oct. 1 and the calendar year is always Jan 1. That is just from my experiences but I have never had any experience with Iraq and this is all a learning curve. A lot of people probably know a lot more about the ME these days because of this RV. Not all together a bad thing but I hate all the war lingo that is now part of the Lexicon.

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