Thread: Iraq/Dinar News. before Febuary 2nd 2006

Monday, January 29, 2007




Next week we will vote on the budget and end the current controversy on



بغداد-المواطن
Baghdad-Citizen



قال الشيخ حميد معله عضو مجلس النواب عن الائتلاف العراقي الموحد ان تأخير.
Sheikh Hamid Maaleh member of the House of Representatives from the United Iraqi Alliance said the delay in the ratification of the 2007 budget is considerable economic impacts on the pace of project delivery. Yesterday, Sunday, and added : "There are economic impacts to delay ratification of the budget for this fiscal year for projects allocated to the provinces." He continued : "The approval will contribute to the rapid conversion Plassiat to the governorates and the implementation of projects awaiting funding." And between Maaleh : "The reasons for the non-implementation of some projects in the last year was due to the delay in the release of funds for the provinces." He stated : "The Board of Deputies has his own in the budget as there are figures seen by some unnatural a long discussion to reduce or develop a new plan for distribution." He pointed out : "The next week will vote on the budgetary sphere and end the controversy surrounding them.

The Finance Minister expressed optimism that the possibility of vote on the budget soon
لكل المواطنين
He said the Finance Minister Baqer Jabr Al-Zubaydi that he does not feel optimistic about the possibility to vote soon on a budget in the House of Representatives. Zubaidi explained in a press statement that "it is necessary to put the House in his calculations, every day we fail to seize the opportunity to begin the reconstruction of the country." , Adding that "the government believes that this delay is unjustified and should be held Members of Parliament sit for the completion of the budget because the government is now suspended, and chained unable to work." The minister denied "that the Finance Ministry had previously granted to the financial district councils except his predecessor and one six million dinars for all citizens



Translated version of جريدة المواطن العراقية

2007 if ratified by the Parliament this budget without a serious change in the future of Iraq to a severe economic crisis in 2007 the adoption of the budget on oil revenue reflects structural imbalances in the electricity crisis of the Iraqi economy will deteriorate because allocations did not include the establishment of new stations for a power generation. D. Nabil Marsoumy Professor of Economics at the University of Basra beacon-A special debate currently rages noise in the corridors of Parliament and among analysts, economists and academics, but in general the Iraqi street over the draft budget for 2007 which was launched by the budget explosive as the size of about (41) billion dollars

This prompted some to the ayatollah have deployed Sheikh Mohammed, the spiritual leader of the Virtue Party, to say that this figure is not great delights me in a clear reference to the huge volume of administrative corruption in Iraq who could devour a large percentage of this budget. Because of the great importance of the role of the economic and social impact on the state budget and their potential impact on the Iraqi economy and society it is necessary to highlight the nature of the components of this budget, objectives and the challenges they face and what can emerge from the direct implications in the life of the Iraqi citizen ... For lighting these aspects met (Lighthouse) Prof. Dr. Nabil Marsoumy teaching in the Faculty of Economics, University of Basra, an economist, has graciously expressed the following opinion :

Beginning with the 2007 budget, a budget of more than 2006 at (10) billion dollars. This budget has been built on several assumptions, including that the volume of oil exports about seven million one hundred thousand b / j and the price per barrel was $ (50), while the exchange rate of the dinar against the dollar will be approximately 1260 dinars per dollar. The first assumption is realistic because it reflects the actual production capacity of the Iraqi oilfields in the south of the country, which flows through which most of Iraqi oil exported abroad. The second assumption on the price of (50) dollars per barrel is the assumption is unrealistic and based on what seems to economic studies serious to predict the future of oil prices, where the evidence indicates a high probability in the reduction of world oil prices which indeed took place since late last year began as oil prices land progressive rates escalates even up now the price of Basrah Light oil to 44 dollars per barrel, which will exacerbate the deficit in this year's budget, of originally (10) trillion dinars, the equivalent of seven R. seven billion dollars. As for the third assumption for determining the exchange rate for the new Iraqi dinar equivalent of 1260 dinars to the dollar, have announced that the Central Bank of Iraq is ready to spend (15) billion dollars in 2007 to the defense of this price through the sale of dollar in daily auctions, which will enhance the stability of the exchange rate of the dinar, but also exacerbate the budget deficit through the sale of the dollar in the local market.2007 budget relies on oil revenues, which contribute 93% of total revenues, compared with 7% of non-oil revenues of taxes, transportation, income property and institutions of the State and customs duties. This is very dangerous because it reflects the nature of the structural imbalances that have been blowing away at the root of the Iraqi economy, which depends almost dogs on a point of the oil and the failure of the efforts in recent years to have a diversity in the structure of the Iraqi economy on the other hand. Moreover, this year's budget would be subject to commodity prices, particularly oil, which is characterized by vacillation and lack of stability and even in the downward direction this year, which may expose the components and joints, to the budget deficit and confusion, which may pose a constraint on economic and social objectives which seek to achieve budget Fund did not give not to to the needs and interests of the Iraqi people especially class widespread social suffer the severe hardships of life, and if the Parliament had ratified the this budget without the change Grandfather where, Iraq is on the verge of an acute economic crisis manifested all clarity in many sectors
and if the Parliament had ratified the this budget without the change Grandfather where, Iraq is on the verge of an acute economic crisis manifested all clarity in many sectors particularly in the fuel and electricity and push prices towards the sharp rise, which would impact positively negatively on the lives of the Iraqi citizen and subjected economic security of the individual and for the country as to the many risks, will haunt to the unstable security situation


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Iraqi Presidency News Of the Day

5-Sadri trend pledge Tknorate independent ministers in a Cabinet reshuffle expected Shnischle and declare support for the plan to impose the law.

1-Minister of Finance : delay ratification of the budget not be in the interests of the state and government and the people.
2- Two-member of the Foreign Relations Committee in the House : the opening of 15 new embassy during the current year.
3- Three-workshop on the stability of Iraq at the World Economic Forum in Davos, with Abdul-Mahdi, Zebari, a galaxy of politicians and business.

1-President of the Republic will meet the President of the American House.

1-d. Allawi : political program based on sectarian basis.
2-Iraqi passport internationally recognized.

Sotaliraq.com

Sotaliraq.com

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Arab League envoy to Iraq quits - Yahoo! News

News from The Associated Press

http://today.reuters.com/news/articl...C3-worldNews-2

http://today.reuters.com/news/articl...S-IRAN-USA.xml

Welcome to ALrafidayn: The Iraqi information service

Welcome to ALrafidayn: The Iraqi information service

Baghdad's last Arab envoy 'quits' | Iraq Updates

Dar Al Hayat

Welcome to ALrafidayn: The Iraqi information service

VOA News - VP Cheney Expresses Confidence in Iraq's Maliki, Concern Over Iran

Kuna site|Story page|Russia says determined to building Iran''s Boucheh...1/28/2007

Tension on the Rise Between Kurds, Turkmen and Arabs Over Kirkuk's Fate

وکالة ال�رات العراقية للانباء

وکالة ال�رات العراقية للانباء

وکالة ال�رات العراقية للانباء

وکالة ال�رات العراقية للانباء

BBC NEWS | Northern Ireland | Sinn Fein votes to support police

Bloomberg.com: Worldwide

Donors, UN map plan to rebuild Iraq
Email Print Normal font Large font January 29, 2007

Foreign donors and the United Nations are close to agreeing on steps Iraq must take to secure funds for rebuilding the country, US Deputy Treasury Secretary Robert Kimmitt said at the weekend.

Iraq had expected billions of dollars in foreign funds after a US-led invasion toppled the regime of Saddam Hussein in 2003. But relentless bombings and kidnappings have kept foreign companies away.

Mr Kimmitt said the 13-member group working with Iraq and the UN was laying out a road map for funding reconstruction.

"Once a list of Iraqi commitments are concluded, it will then turn to what the international community can do to bridge the gap between Iraq's ability to pay for its needs and the needs of its people," Mr Kimmitt said at the World Economic Forum. "I would imagine that would conclude in the months ahead. And then we are still working on Iraq's side of the model, which depends on its passing the hydrocarbons act," he said.

Iraq, which sits on the world's third-largest oil reserves, is working on legislation that would lay out how its oil wealth is distributed.

Mr Kimmitt said Mr Bush's decision to send more troops to Iraq had not affected discussions among foreign donors.

He said that US President George Bush's budget, due for release next month, should give an early indication of how much it would contribute to the reconstruction of Iraq.
Donors, UN map plan to rebuild Iraq - Business - Business - theage.

High inflation and economic vision to curb unchecked

بغداد- يناBaghdad - Linas
االجياAn economic expert confirmed that inflation is endemic of the problems that beset much of the economic issues which now requires moves to control it before it is too late. He said Dr. Kareem Abdul-Razzaq of the Center of Studies and Economic Research in a statement Sunday : "The causes of inflation in Iraq have nothing to do with the nature of economic resources such as oil and other natural resources or stop export operations Awastenavha, but linked Bamurkthirh contributed to the escalation, the first of the security situation deteriorating in addition to the absence of effective operational plans to control it." He added : "The feet of the former regime to issue local currency disregard for the planning, programming correct heavily burdened Iraq, which contributed to the manipulation of the World Bank on the current Iraqi government to raise fuel prices for the downfall." He pointed out : "There are steps to curb inflation which direction to determine growth rates in the currency bloc and coordination with the Ministry of Finance to open the auction for remittances treasury, and an auction of the dollar, and interest rates, as well as the practical and scientific procedures followed in the advanced countries of the world." He added : "The lifting of the exchange value of the dinar against the dollar is an important factor in the development of the Iraqi economy, including allowing each consumer and investor opportunities to make their own decisions and therefore helps to improve prices and the elimination of the phenomenon of serious inflation gradually

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وكالة الأنباء الكويتية (كونا)- صÙ�Ø*Ø© الخبر - العراق يطالب بديونه المستØ*قة على اليمن ودول اخرى ...28/01/2007

Tikrit-Robbery :: Aswat al Iraq :: Aswat al Iraq

Iraq industry leader shot dead - News - channel4.com

Sources in parliament said an economic and financial committee will be formed to revise the government’s $42 billion 2007 budget. The sources said the committee will address certain issues including earlier decisions to withdraw the funding from projects taken on by ministries and provincial authorities if they fail to complete 75% of the project. The sources added it is not possible to punish a whole ministry or province for the underperformance of a limited number of people.

http://www.izdihar-iraq.com/news/PDF...27_roundup.pdf

marsadiraq.com

But ministry spokesman Assem Jihad said Friday the measure had been delayed by unspecified "differences among some groups." He said the ministry hoped the differences could be overcome so parliament could approve the bill before a monthlong recess Feb. 10.

News 8 :: KFMB Stations, San Diego, California

shin fein has voted to support the police force

Bloomberg.com: Worldwide

Kuwait may drop the dollar peg
by Ben Flanagan on Thursday, 25 January 2007 | Kuwait Kuwait may abandon the dollar currency peg to its dinar in favour of a basket of currencies to reduce economic damage caused by a falling greenback, Bloomberg reported.

The Gulf state’s finance minister told reporters at the World Economic Forum that the central bank is studying a possible switch from the dollar. The US dollar has declined 5.6% against the euro in the past 12 months.

The UAE recent raised the prospect of a region-wide revaluation as early as March, although Saudi Arabia – the largest GCC economy – subsequently announced that it has no plans to stop pegging the riyal to the dollar

wow...some concrete dates on when to expect things to be done...lets see if they follow through. Lets see...by the 5th that means any day now...on the 5th...well that means on the 5th (wow a security plan....move all new US troops into place) and by the 10th the oil law....meaning anytime, howeer I would expect it after the budget as I said....Great find SGS