OCRUSH MARCH 8TH
Hello Steve, Ray, Mods and All,
We were busy this morning reviewing the budget and scanning through Kurdish Media (his end).
Now, we see the Kurds are threatening to take and dispute some of the articles in the CG's passed budget. The one thing we noticed, the media is not telling us this will be observed by the Federal court. The passed budget already has provisions put in it for audits. Let us show you.
If you read Article 9 section 2 the Kurds will recieve 17% for expenditures. This is a straight up 17%.
Now if you read section 3 under Article 9 it excludes payments for there house of reps, CoM, ministry of defense and so on....it's all spelled out.
Now if you read Article 9 section 4 it states what needs to be done (increase or decrease) ( add or reduce) after they take under account items 2 and 3 under Article 9. This responsibility falls under the Federal Ministry of Finance. They will audit and calculate openly with the Federal Office of Financial Supervision.
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This will also be monitored by the Federal Court, just like they want, to make sure there is no foul play and to get it approval.
Now if you read section 5 (fifth) under Article 9 it includes advance payments to the Kurdish Peshmirga's salaries and benefits. They honored the Constitution but the GOI wants a law (finally) to be put in place to REGULATE there pay and benefits. They need to settle this once and for all.
Now the payments to the oil companies fall under Article 24. For the year 2013 the kurdish govt. will recieve 750 billion dinars. The remaining money that the Kurds are asking for an audit will take place by the Federal office of Financial Supervision and the Federal Ministry of Oil with the supervision of the Federal Court, just what the Kurds want. Soooo you see it's all written in the budget law, they just want the Federal Court to supervise and give there approval as a third party. The Kurds want a fair outcome.
In conclusion the budget is passed...done deal. Parliament has completed their task and now it falls to the ministries. They will complete their audit, pass it to the cabinet, they will approve it and get it published. The Kurds will have their audits but make no mistake this budget is done. We should start seeing the laws that were passed get published. They needed the budget to pass first before they made these laws (infrastructure, trade, banking and so on) official in the Gazette.
Hope this helps!!! CHEERS ALL:)
One more observation. Tourism in Iraq is going to boom. Despite the fears, Iraq is in a great position to get tourists to visit...they need to start this process and this year is the beginning. Back in May of 2008, iraq signed a contract worth over 2 billion dollars with Boeing. This contract consists 30 737-800 and 10 787's. The bulk of the 737's will be delivered in June and July of this year. You see they knew back then 2013 was the emergence of Iraq to the world.
The Ministry of Transportation will reveal shortly new open routes with England, Germany, France, China and the Netherlands. This will be a money maker for Iraq and add to there GDP. It will also add thousands of jobs with good pay to the Iraqi's. Boeing also helped the ministry on the logistics and infrastructure of there airports (consulting).
There is also a new airport under constructure (state of the art) about sixty miles south of Bagdad (forgot the name). I see this as great progress and positive steps to get Iraq out relying just on oil proceeds. So as you can see this is five years in the making. 2013 is the year where Iraq will be a show place to the world:))
SteveI: This is the best team ever. Thank you all for sharing and to continue to share. I have never felt better about this investment as I do right now. After the passing of the budget, I feel like we are at the finish line, not close to it.
Blessings to all. Steve