Millionday News 5/11/14 Part 2
Welcome To Sunday Night News Time With Millionday!
[millionday] i think that the international contractors that are part of the budgeted infrastructure for some of the province projects require that the reality and calculation should be done so that the value of the dinar is both internationally recognized and also fair and correct according to international economic behavior of trade –
the budget is funding for the country with their own revenues and allotted amounts of money per industry -- agriculture -- etc -- Cbi has stated
[millionday] that they will not transfer funds without a budget in place for the correct amount going to each province -- so the rush to be a huge and beneficial part of the funding of the economic reform due to the circumstances should be very important for iraq
[millionday] so CBI has stated that they will fund the banks with international project money and that is obviously not the best idea for Iraq or for the economic reform or any of the reforms as far as that goes
[coolspot] Would it be fair to say they are using the Budget to force a Power Sharing Agreement?
[millionday] i would say the constitution already forces the power sharing -- but the lack of involvement of the fame and gain for the economic reform is a huge force in my opinion
[dovi] guess my ? is answered..it was...did they say money will be dispersed now for the needs and projects without a budget or is everything still on hold until whenever?
[jtank] They need the international projects to move forward globally--Iraq Iis doing harm to themselves but will not stop the cbi
[hub] do they have a budget to be approved with the international value in it that can used to pay infrasture or is it still numbered with the value of the 1166 dinar..which goes right back to the 7:09 comment...
[millionday] they seem to be saying they have gotten to a point that will resolve the budget but we shall see -- CBI has made it clear no monies until the budget is law
[hub] need the revalued currency
HGINVEST] is it possible that they could be getting many of these projects done using the shadow rate? on the MOP site they have adjusted the exchange rate again, do you have any understanding of this? Would you like the link to the site?
[millionday] the budget is written by % -- so the value of what they have going out is by % and some say it is in there and some say it is coming with the budget
[MsDiva] Do you think 2014 is the preparation year and 2015 will be when we see a reality rate?
[millionday] the tool of changing the value within the country is a tool for inflation -- not the set of the reality rate
[millionday] it does not mean that the rate adjustment by a little bit is nothing more than keeping the inflation down - or setting it to adjust by the value change in the usd that is all
[jarhead] So float? mam
[millionday] no this just means the little but is the change of the dollar it is against
[millionday] the change of the usd rate will change the value a little
[dovi] did not understand the last two lines
[millionday] we dont know if it is set to be a controlled float or a float etc until it is done
[MsDiva] I just wanted to know if we are still within2014 or 2015
[hub] had one of my contacts that say that the date (edible kind...hehehehe) biz from iraq went on the fritz because they did not have a price against the value of the dates on the international market.
[millionday] MsDiva its 2014
[millionday] hub i agree and it is why all is on the fritz here too --
[MsDiva] millionday thanks
[hub] millionday exactamundo
millionday] here we go -- They emphasized that the private sector to ensure achievement of Baghdad Shkran Fatlawi Collect a number of experts in the economic need for private sector development and the reduction of defects based economic system through the concerted efforts of all stakeholders of all economic affairs.
said the head of the Institute for the progress of development policies d. Mehdi al-Hafez said talk of Iraq and its economic development is no different greatly from the global context is more or less
The analysis of the economic infrastructure of Iraq confirms the predominance of revenue producing oil and breadth continued in the public sector, which has become the established in all forms of economic activities
[millionday] note -- it seems they are ready to activate the production side of business to begin economic reform -- there is more lets read on
[millionday] said Hafiz in a seminar organized by the Institute to the presence of more than 20 million people in Iraq live on oil revenues out of 35 million people, according to estimates of the population of Iraq, noting that the Iraqi economy is correlative with external factors as which embodies the dependency of financial resources, trade, and most of the national economy needs to handle the outside.
gross domestic product and between Hafiz to talk about productive sectors tainted by a lot of pain in 1980 was the economic indicators confirm that the share of agriculture in GDP has reached 33 percent.
while the share of manufacturing 11 percent, pointing out that it was possible that Iraq will be from the newly industrialized countries, similar to the countries of Southeast Asia afterthought to get involved in
millionday] note -- remember their ingenious move to add the water and electric and railways etc to agriculture under the claim it is a true tool needed for agriculture so this is reflective
[millionday] Blibl He also stressed that the private sector and in spite of all the obstacles facing it still exists, though its contribution is not at the required level, calling for the need to find legal environment and legislative contribute to creating a suitable environment for the development of this sector and encourage investment.
capacity development and concluded that participants to the importance of the promotion of economic reality through the activation of the role of the private sector, which was the focus of a symposium organized by the Institute and develop the abilities to be a real competitor for the product of foreign as well as activating the laws of tariffs and protection consumer protection and product and seek not to keep the country towards a market for neighboring countries dependent on imports.
[millionday] let me address this
[millionday] the activation of the private sector will require the reality rate due to competitive pricing index -- they cant just gives a price and the economists from the other country not be able to calculate that the smartest business decision is to buy from Irai company -- it has to make sense on paper –
it would be as if we made a huge trade deal with china and we were going to pay in british cars and no information was available to let china know what the value of the cars were going to be in the last two years of the contract -- obviously china would not be able entirely to sign the contract –
in fact they would have no idea what the contract was actually worth or if they were going to profit or gain in the future -- much less that value of the cars at that time and the depreciation of the first year cars -- so see how hard this would be and actually impossible ?
[millionday] so we are sitting on the edge and swinging our feet like children waiting for the parade
[millionday] that is really the news
[hub] millionday when will they relize to get their economy going, they need to produce something that people want to spend their money on.......when this happens, their economy will take off like a rocket.
[millionday] hub you are absolutely right -- this economy is going to boom and invest a new word for it imo and by many reports we see of course
[millionday] so lets see what is happening tomorrow with budget -- and know they have met once again with the wto and are saying they are going to activate the prodive sector
[hub] so they need to get with the world, mix their dinar with the rest of the world currencies and start going to town,,people are dying for a good place to go, and bagdad and the whole of the mid east except iran,,,is poised to become a world neighbor,,and not a world fighter
[millionday] exactly hub -- they are so ready and too they have wrote and activated and put in place all laws for trade for complete compliance with the wto so they should be prepared