Tlar Nothing has changed in Iraq. It's the same as it’s always been since 2003. So how foolish we are to expect that they will really change economically or monetarily.
It will never happen and anyone who thinks that the budget will reflect a change in monetary policy must be sucked in by some guru. The only thing we should expect is more of the same.
The budget is written in trillions and that won't change. Really? If all this is true then we have lost hope. Why is it that we are still here? What is the point? Without dreams and hope , we might as well give up. Right?
Brule, for 5 years the CBI has led us to think they were going to do this. So for 5 years we hope the budget is in billions, not trillions. So yes it is happening again.
Tlar Continues: But alas we know that truly Iraq has not changed at all so anyone that even suggests that this might be the year, or suggests that the budget must be changed if they change the exchange rate , must be a pumper. Agreed then everybody? This is not the year so quit hoping or looking. Gees, really?
I still hope and look and I think this is the year be it wrong or right. To me the verdict is still out on this budget. We know it is/was written in trillions and we know that must go to billions if they delete the zeros before they open it;.
So the budget itself no matter what it is written in, trillions or billions, will reflect the new rate, but it has no material effect on the RV. If the CBI changes the exchange rate, the budget will be released as if it was written in billions. If they don't change the rate, it will be trillions as is stated now.
So I still look for the RV before they open budget, not vote, not publish, but open and start the actual funding of ministries.. If it doesn't come that will be a great disappointment to both me and the Iraqi's.
Neither one of us will have better purchasing power this year. If it does come, we will all just be distance memories to each other in a short time. tlar
BigJohn Appreciate it Sky
Livefree Thank you Tlar, GREAT POST!
Preacher Man thanks Tlar, like momma always said, It is, What it is..One way or another we will see, hopefully to our advantage..
BigJohn Thanks Preacher. Loved Johnny Cash myself. Appreciate all you bring to CC.
Have a great Super Bowl with your family and friends everyone! We are in a good place, better than we have ever been in. Waiting is hard, patience is even harder..
Skylimit tlar, I too believe the rate will come before the budget is released otherwise all the efforts of removing dinars from the system over the past several years will have proved pointless.
They have now committed to funding programs under a new government and failure to do so would test the confidence of the global community let alone Iraqis. They have definitely reached a fork in the road for their future, the signs are encouraging.
DreamWeaver Tlar, thanks for your thoughts. Would like to add IF this budget is reflected in billions of dinars instead of trillions, I do not expect that we will see it posted in Gazette until they are ready to RV--AFTER rest of laws or whatever else they believe are needed are done.
Obviously, they are putting full court press on Investment Law and many, many other things including Mastercards, etc. Why would they be in such a gall darn hurry UNLESS they are just about ready. JMO.
Some think posting budget law on Parliament site is letting the cat out of the bag, but I think not. It's not in the Gazette so "world" doesn't yet know their intention.
So, all things considered, I personally take translation by "My Ladies"--if accurate--as a glimpse into the Iraqi abyss. Maybe the first real one we've ever had as there is no doubt they will need to adjust budget to billions before they start to dole out funds.
IMO they could have very well done a switeroonie from trillions to billions before posting budget law enacted on parliament website because they have no intention of posting budget law in Gazette until at or after RV event. Wouldn't be the first time we saw a lag between passing in Parliament and posting in Gazette.
If "My Ladies" translation proves inaccurate, it wouldn't surprise me as translating that language is tricky; but I'm hoping their Arabic is excellent and they know the difference in language between billion and billion thousands. GIJane pointed out something extremely relevant to the translation process.
Time will tell. Until then, I'm optimistic it may be true--but not telling my boss (my husband LOL) to shove this job. :D Blessings and best thoughts, Tlar and all. Let's just see how this unfolds. ~ DW
Flyboy I've had three cups of coffee reading this stuff today...I'm so nervous I could make a bottle of asprin jump...lol To me...it is all heading in the right direction...and I do hope everybody is right. And, I do love it...it has been a long haul for all of us... and I feel the signs on this road point to the end of the line.... Thanks all...
Aloha Alex This thing is getting as elusive as Eastern Mysticism. Everything matters...nothing matters. We all remember when Shabibi was ready to pull the trigger with no budget or laws. We wait with bated breath. What is the sound of one hand clapping?
Schiz Submit Legal expert calls for rapid deployment of the budget in the official newspaper of the Iraqi facts to work out
01/31/2015 12:24 BAGHDAD / Nina / student legal expert Tariq Harb speed up the deployment of the state budget in the Official Gazette, which was approved yesterday and working out. He said in a statement today that "Article 73 of the Constitution gave the president the authority to ratify the legislation after legislation in Parliament during the period of 15 days set by that article to approve the law in the absence of the President authentication and Article 129 of the Constitution decided to work laws yet to be published in the Official Gazette / facts Iraq /. "
He said the war "after the President of the Republic authentication or after 15 days if no validation and where the budget bill contains many obligations such as imposing sums on the use of mobile and deductions from the salaries of employees of the owners of the higher grades and meet payments on imported and other obligations that can not be implemented until after the President of the Republic authentication or wait 15 days and the dissemination of the law in the Official Gazette, the car It requires all the actors validation and speed deployment speed in order to implement the provisions of the budget law. ". The parliament approved on Thursday the state budget of $ 119 trillion dinars and a deficit of 25 trillion dinars. / finished
Late Saturday Night Update From MyLadies 1/31/2015
MY LADIES: WELL I KNOW IT’S GETTING LATE BUT I WANTED TO ADD SOMETHING VERY QUICK HERE.
IT IS ABOUT THE SIGNING OF THE BUDGET. DXXX FIRST SAW THIS EARLY THIS AFTERNOON ON PARLIAMENT WEBSITE UNDER LAWS ENACTED.
HERE IS THE LINK http://parliament.iq/ILaws.aspx
SHE BROUGHT IT TO ME AND WE JUST SAT ON IT FOR A WHILE. I WANTED TO GET IT TO Vxxxxx FOR TRANSLATION. WHEN SHE CONFIRMED IT I POSTED IT IN MY ROOM AND SENT IT TO RECAPS.
NOW I WANT YOU ALL TO KNOW THAT THE OPENING LINE OF THIS DOCUMENT READS;
FROM PRESIDENCY, BASED ON WHAT PASSED THE HOUSE IN ACCORDANCE WITH THE PROVISIONS OF ITEM FIRST OF ARTICLE 16 AND ITEM (iii) OF ARTICLE 37 OF THE CONSTITUTION PRESIDENT OF THE REPUBLIC DECIDED ON //5162 (WHICH MEANS 02/01/2015) LAW ISSUING THE FOLLOWING:
LAW FOR THE YEAR 5162 THE GENERAL BUDGET OF THE FEDERAL REPUBLIC OF IRAQ FOR THE FISCAL YEAR 5)) THE FIRST CHAPTER(( REVENUE ARTICLE 1 FIRST: THE GENERAL BUDGET ESTIMATED FEDERAL FINANCE / YEAR REVENUES OF )94,146,484,049(
THE BUDGET GOES ON AND ON FOR 38 PAGES. NOW WE DID NOT INVENT THIS DOCUMENT AND IT IS ENACTED AS LAW ON PARLIAMENT WEB SITE. ADDITIONALLY THE ITEM NUMBER 59 IN THE BUDGET READS LIKE THIS
Urgent Parliament vote on Article 59 of the draft budget, which provides for the publication of the law in the Official Gazette facts Law Baghdad: Euphrates News} House of Representatives voted on the fifty-ninth article of the draft federal budget for the fiscal law for the current year, which provides for the deployment of law in the official newspaper the facts as of 01/31/2015. http://www.faceiraq.com/inews.php?id=3471278%E2%80%8F
NOW IF YOU GO TO THE MINISTER OF JUSTICE SITE YOU WILL FIND THE GAZETTE HERE IS THAT LINK http://www.moj.gov.iq/
AS OF THIS MOMENT IT HAS NOT BEEN UPDATED TO THE SITE BUT THAT DOES NOT MEAN THEY DO NOT HAVE IT. PARLIAMENT IS CALLING IT ENACTED.
YES FRIENDS WE WERE VERY CAREFUL AND HAD THIS TRANSLATED AND EVEN THE NUMBERS Vxxxxx WAS VERY CAREFUL TO CHECK THEM AGAINST THE ORIGINAL NUMBERS THAT WERE IN THE TRILLIONS.
WE BROUGHT YOU THE ANNOUNCEMENT THAT IT WAS SIGNED AND THEN WE CHECKED IT TWICE TO SEE THAT THE TRILLIONS HAVE IN FACT BEEN SWITCHED TO BILLIONS.
ALSO IN THERE IS A LOAN FROM THE WORLD BANK FOR 6 MILLION DINAR, NOT DOLLARS, WELL THAT ISN’T VERY MUCH IS IT AT 1166. AND ALSO THEY ARE TAKING A LOAN FROM THE IMF FROM THEIR SDR’S TO CREATE ADDITIONAL LIQUIDITY
SO FRIENDS WE ARE VERY CLOSE AND WAITING ON NOTHING FURTHER WITH THIS BUDGET, NO 15 DAYS OR SPECIAL SIGNATURES OR 30 DAYS OR ANY OF THE CONFUSION OUT THERE.
TAKE A DEEP BREATHE AND THEN EXHALE. THINGS ARE MOVING WITH GREAT SPEED.
TOMORROW AND MONDAY WILL BE VERY TELLING THEY HAVE MANY FINANCIAL OBLIGATIONS AND THEY MUST MEET THEM INTERNATIONALLY.
THEY HAVE BEEN PREPARING FOR THIS FOR A LONG TIME.
FOR NOW GET SOME REST I JUST WANTED TO ANSWER QUESTIONS AND CLEAR UP ANY CONFUSION ABOUT THIS PDF FILE POSTED TO THE PARLIAMENT WEBSITE THAT SAYS FOR LACK OF BETTER WORDS HEY “INTERNATIONAL WORLD…WE ARE COMING UP, OUR BUDGET IS SIGNED SEALED AND DELIVERED”
ENJOY YOUR NIGHT FRIENDS WE WILL CHECK IN TOMORROW… LOVE TO ALL …MY LADIES