Flyboy BAGHDAD / Obelisk: Iraqi facts circle, on Thursday, confirmed on Sunday that the next date of publication of the Federal Budget Law for 2015 in the Journal of the facts, noting that the work is underway so far on the formulation and audited in preparation for deployment.
The general director of the Iraqi facts circle Hussein punitive, in a statement seen by “obelisk”, “The number of Sunday from the Iraqi Gazette, will include the publication of the general budget of the Federal Republic of Iraq for the financial year / 2015, all the details of the law,”
he “provides the latest issue of the newspaper The facts of Iraq, in the approved distribution centers, and a library of justice in the ministry’s headquarters. ”
He punitive “The federal budget law requires several days to be drafted and printed in minutes being includes full details of a large number of tables and figures,” pointing out that “the Ministry of Finance will sign what has been drafted in the budget before it was published.”
The President of the Republic Fuad Masum, has ratified the morning of Tuesday, the federal budget for the current year 2015.
hi-five Flyboy - - Great Article! Can't wait to see, one way or the other, what happens when they open the budget!
Diane Another step in the right direction. Thanks, Flyboy.
Jackt Agree Diane and this is about the 3rd article today confirming this. We wait and watch.
Tlar With the publishing of the budget we will soon know the truth one way or another. If the budget comes out Sunday and a few days later they start dispursing the funds at 1166, then it is more than likely it will not happen this year.
So this is likely the weekend we should see a change if they are going to do it this year. This budget takes all the guesswork out of this IMO and is the backstop (yes or no) I mentioned a week or so back.
There is plenty of rumors, some supported by articles, and intel is once again heating up that support a change if that is what they do.
I am, like so many of you keeping my fingers crossed they actually do it this time. The latest intel says that Pimco has written bonds for Iraq to the tune of 17 billion that will be on sale in the short future.
Iraq negotiated these bonds approximately 3 weeks ago and then backed off saying they would be back soon to sign off. The bonds were written as of today but I have not heard if Iraq has signed off on them.
We will see if this intel is correct in the coming days. It certainly is another interesting high in this investment and we should either stay on this high, or have the wind blown from our sails the first part of next week.
This is a critical time for Iraq and we will see if they stand up to the challenges.
IMO their liquidity problem, their lack of dinars, will be solved with an RV and the release of the smalls, or they will have to fund their budget in USD.
All articles point to the fact that they want now to exclusively use dinar in country so again, that goes counter to what their desire is. Ministries are calling for de-dollarization now. tlar
Aloha Alex Published in the Gazette is not the final step. We have seen many times in the past that an important law gets published but not implemented.
Implementation, for the budget would mean funding...who knows when that will happen. I guess if one wanted to be optimistically delusional, you can earmark the 1st, when tariff laws are supposed to kick in, and by then, hopefully ISIS withdrawing.
tlar, Pimco is a huge company with thousands of employees. Is this something they would keep secret? I'm sure someone here works for Pimco or knows someone who does, maybe they can find out?
Rockstar Agreed AA thanks for your comments!
hi-five My challenge is to stay grounded for the next couple of days. I, too, believe we will know next week whether or not we are done with this, or have to go another year.
Out of self preservation, I'm prepping for another year, but what's difficult about that is it defies logic.
If we go another year, then nothing Abadi, parliament and the CBI have done these last few months makes any sense. (See Tlar's last post for a partial list.) So, I continue with one bun on the edge of my chair, the other bun in the recliner!