Thread: Archive News - Iraqi Dinar Think Tank - 24/01/201 - 23/07/2011

Central Bank: delay the budget adversely affect the realities of economic development in the country

Central bank warned Iraqi political blocs of the delay in approving the budget in 2011 because it would negatively affect the reality of economic development in the country.

The adviser said the Central Bank of Iraq in favor of the appearance of Mohammed in a press statement today that "the delay in the budget in 2011 more than this time will weaken the country's economic development is a large and particularly affect the rates of growth."

The Iraqi government confirmed earlier that the existing gaps in the budget of 2011 is an old legacy of the mechanism for restructuring of the budget in previous years. Saleh added that "the delay does not affect the budget for the monetary policy of the country they are part of the fiscal policy management and paid for by the Ministry of Finance and not the Central Bank of Iraq." Batch of projects and up to 77% of the total value of the public budget remains as part of the investment up to 28%.

The benefit of that "the economic impact of Nokia on the part of the operational budget in 2011, which is up 1 / 12 of the operating budget for the previous year, but affect the investment part of the budget." The Iraqi government has approved the draft federal budget law for fiscal year 2011, with $ 79.6 billion to the budget dollars, so when calculating the oil per barrel to U.S. $ 73, and the rate of export of 2.25 million barrels per day.

Saleh pointed out that "the major projects sponsored by the state oil projects and others to delay the budget is not affected, but affected by the service projects of direct contact with the lives of citizens." It is expected that the budget deficit to reach about $ 5 billion, in what is expected that the rate of spending about 54.7 billion dollars.

The Central Bank of Iraq, the Iraqi government can fill the deficit in the budget in 2011 by borrowing from their deposits in government banks. Prime Minister Nuri al-Maliki has warned of a fiscal deficit confuse the completion of projects for 2011 in case the central bank did not fill the deficit in the general budget of the country by oil reserves.

Iraq relies He is a member of the Organization of Petroleum Exporting Countries on oil revenues to finance about 95 percent of its annual budget. In the opinion of a number of deputies that the delay in the budget more than the current time would disrupt the process of construction, age and impede the movement of government and ministries. And witness the preparation of budgets, the country's financial and approval delays by the government and the House of Representatives because of the large number of objections and criticisms on some of its paragraphs highlighted aspects of exchange and the financial allocations for some government institutions and the three presidencies. The CBI had earlier on the 2011 budget that will raise economic growth to 10% of what it was, noting it was built according to the country's economic policy.

http://www.khabaar.com/news.php?action=view&id=13267

Iraq: Federal Court decision regarding the independent bodies is illegal

Confirmed the MP for the Iraqi bloc in parliament and the unit Jumaili that the Federal Court has proved through its recent decision to link independent bodies as the Council of Ministers and the Court is not neutral, third-party window.

Jumaili said told a special independent news agency that the court's decision came following a request by Prime Minister Nuri al-Maliki personally, pointing out that everyone knows that "the court was set up by presidential decree rather than parliamentary, rather than the court's right to make decisions unconstitutional, because the Constitution devoted chapter IV of Part III under ad hoc bodies of independent label has seven legal materials, although the materials are not free of impurities and intersections, contradictions and clear."

Jumaili and demanded constitutional amendments to be made to expedite the legal problems to resolve contentious addition to the restructuring of the Federal Court in accordance with the Constitution.

http://www.khasnews.org.iq/news/00048.htm

Iraq: amending the Constitution and a law of the Federal Court has become a necessity and legal

An advisor of the Iraqi List, Dr. Hani Ashour said amending the constitution and organization of a new law of the Federal Court has become a necessity and legal, after the many dilemmas in the interpretation of the Constitution, and the multiplicity of its violations, and ambiguities resulting from it and that put the political process in many crises, with an established fact that the Constitution contains explicit material on the need to modify it, and the organization of a new law of the Federal Court, which currently serves the law of the State Administration for a Bremer canceled.

Ashour said in a press statement received That many of the constitutional violations that exceeded more than 27 violation, in addition to the demands of the political blocs to the amendment, as well as ensure the Constitution, Article (142), which Require amendments after approval, and voting upon, are the grounds assert that the amendment of the constitution has become necessary for the continuation of the political process in Iraq and to secure the democratic system, passed by the Iraqi Constitution.

Ashour added that the leaders of political blocs agree on the need for the amendment, and Prime Minister Nuri al-Maliki has called for amendments during the election period, saying "that was written in haste," and that the political blocs and House of Representatives Agreed to the amendment, and that the committee was formed to modify it in the last parliamentary session had been completed a large proportion of adjustments, what drives the need for the amendment now.

He explained Ashour .. Keeping the Constitution as it is now, and the authority of the Federal Court With a multitude of materials and interpretations that give rise to confusion, blurry language of some articles of the Constitution, means that Iraq will face a crisis of political and legal, are demanding that the amendment this year in particular, before the exit of U.S. forces, because the delay will add more problems.

Ashour said How long shall we go back to the Federal Court and everything in detail for the Constitution, does not that mean that the Constitution is clear in many of its articles and paragraphs, note that the Federal Court itself has not been formed on the basis of the constitution has not been the organization of work and law, as stated in its articles (90-91 - 92-93) of the Iraqi Constitution, and continues to operate the law of the State Administration, which canceled by Article (143) of the Constitution the Government since 2006, has focused on the article mentioned that "The Law of the State Administration of Iraq for the transitional phase, and its supplement, when the the new government."

And Ashour stressed that the real solution for the continuation of the curriculum and the success of the democratic political process in Iraq is to amend the Constitution at this particular time.

http://translate.google.co.uk/transl...n&hl=&ie=UTF-8

House of Representatives today begins the first reading of the draft law of the Federal Court

House of Representatives and began at its 29 on Saturday, the first reading of the draft law the Federal Court.

The source said the Council told the independent press (Iba) The meeting was chaired by President of the Council Osama Najafi and the presence of 225 deputies and will include first reading of the bill the Federal Court and the host governor of Basra Cltag Abboud to discuss preparations for the Gulf Cup (21) and to discuss the deteriorating security situation in the provinces of Diyala and Anbar.

The city of Ramadi, Anbar province has seen three explosions yesterday, adhesives and improvised explosive belt, killing and wounding dozens of people.

http://www.ipairaq.com/index.php?nam...itics&id=35215

Iraqi Parliament continues discussing 2011 State Budget

The Iraqi Parliament is holding its session on Tuesday to continue the discussion of the State's Federal Budget for the year 2011, according to a Parliament statement early in the day.

"The session's schedule includes the second reading and the discussion of the General State's Federal Budget for the year 2011," the statement pointed out.

The Iraqi Council of Ministers approved the final version of the Budget in a meeting held on Feb.
6, 2011.

The country's budget for the fiscal year 2011 is based on revenues for the crude oil exports at an average price of US$73 per barrel and an average daily export of 2,250,000 barrels, including 150,000 per day for the revenues of crude oil exports from north Iraq's Kurdistan Region.

The draft law on the new budget includes a condition that all ministries and other institutions that are not attached to any ministry would be committed to "authenticate" the cash grants they get according to agreements with foreign governments and institutions, to be a final revenue for the Federal Iraqi Treasury, through coordination with the Federal Planning Ministry.

http://en.aswataliraq.info/Default1....&id=140881&l=1

Sea Science: Companies invested in the Basra oil fields has increased by 10%

Sign and former oil minister Ibrahim Bahr al-Ulum and the arrival rates of export of oil in Iraq by 2013 to around 3 million barrels after the completion of the floating docks.

The Bahr al-Ulum, said in a statement that foreign companies invested in the Rumaila and Zubair in Basra, within the framework of the first licensing round, announced an increase in production rates by 10%, starting from the point of initiation by about a year and a half.

Bahr al-Ulum said that to achieve the desired ceiling of export in this period requires increased exports from the southern fields, which currently stands at 1.8 million barrels a day, and raise the export capacity through the Turkish port of Ceyhan by 700 thousand barrels per day.

http://radionawa.com/Ar/NewsDetailN....503&LinkID=155

Shahristani: Japanese companies are ready to open branches in Baghdad

Deputy Prime Minister for Energy Dr.. Hussain al-Shahristani and during his talks with Assistant Secretary of Japanese Foreign Mitsosakaba and a delegation representing the number of major Japanese companies, its readiness to open branches in Baghdad.

And the transfer of the National Media Center, told the independent press (Iba) for the official source in the Office of the Deputy Prime Minister said the talks focused on the participation of Japanese companies in the reconstruction of infrastructure in Iraq and expressed Iraq's desire to enter the Japanese companies and to activate joint cooperation between the two countries ..

The Japanese Mitsubishi company was conducting negotiations for the purpose of investment, natural gas and develop gas wealth.

http://www.ipairaq.com/index.php?nam...onomy&id=35288

CBI dollar sales up on Tuesday

The Central Bank of Iraq (CBI) dollar sales on Tuesday registered $171.647 million, up from the previous session’s $145.879 million at an exchange rate of 1170 Iraqi dinars per dollar.

"The demand hit $600.000 in cash, covered at an exchange rate of 1,183 Iraqi dinars per dollar, and $171.047 million in foreign transfers outside the country, covered at an exchange rate of 1,183 Iraqi dinars per dollar," according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 18 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/Default1....&id=140885&l=1

NIC authorized to sign agreement with Bahrain

The Council of Ministers decided on Tuesday to authorize chairman of the National Investment Commission to sign an agreement with Bahrain to encourage and protect investments between the two countries, spokesman of the government said.

"The council during its 8th session decided to authorize chairman of the NIC to negotiate and sign an agreement to encourage and protect investments between Iraq and Bahrain in accordance with Article 80 of the constitution," Ali al-Dabbagh said in a statement received by Aswat al-Iraq news agency.

"The decision was taken and the foreign ministry will prepare the authorization document to the NIC chairman," he added.

http://en.aswataliraq.info/Default1....&id=140886&l=1

Jordan calls for Iraq to pay oil loans

Said ministry spokesman Assem Jihad, the Iraqi oil that the Iraqi government demanded that Jordan payments of crude oil have been exported to Oman at below-market price, during the years 2003 - 2006 and with 114 million U.S. dollars.

Jihad said that after visiting Jordanian Prime Minister Samir Rifai to Iraq, was the signing of several contracts between the two sides, and Iraqi Prime Minister Jordanian side to pay Akiem Iraq's oil is exported to Jordan at discounted prices, stressing that the Iraqi Oil Ministry is determined to pay Jordan amounts Loans of oil that is exported to Oman, because Iraqi oil is sold to Jordan at prices far below market prices.

http://radionawa.com/Ar/NewsDetailN....462&LinkID=155