Millionday News 5/13/14 Part 1
Welcome To Tuesday Night News Time With Millionday!
[millionday] Mustafa al-Hashemi at the time delayed the approval of the budget year 2014 for reasons known and speculation to transfer files to the next Parliament, there has been speculation or proposals or attempts to merge the budgets of 2014-2015. this proposal so to speak need to analytical visions correct by economists to show the advantages and disadvantages of merging with a statement its potential or not.
[ROBINREDHED] next parliament?
[ROBINREDHED] sorry i meant NEXT PARLIAMENT? ok, carry on
[millionday] note -- there is a lot to this report so maybe it is not all bad news and contains some type of plan - as we know this does not stop economic reform -- but does affect it for the country smile
[millionday] economic «morning« She issue through its contacts rapid and sustained a number of experts and conducted them encounters the following will continue to pursue other views to mature the idea in its entirety and flour. in minded different firstly merger between Almoisntin while insisting opinion other on the existence of numerous difficulties and challenges.
[millionday] note -- they are discussing the idea of merging two years together for it to be not such an issue next year and it would appear they have flour smile
[boomshakalaka] lets bake
[millionday] In answering a question (morning) about the possibility of the merger, said the economist appearance of Dr. Mohammed Saleh, said that the integration of the budget in 2014 with a budget of 2015 is out of the question is the way a legal vacuum Legislative witnessed by the country.
added benefit of the (morning) that the Financial Administration Act and the public debt allowed the executive authority to take such a step for the purpose stroll things in relation to budget operational inability of one to predict the time it would take to form the next parliament as well as the time it would take to form a new government .
[millionday] note -- our friend Saleh has stated that it is too time consuming for the country -- we knew we liked him [jtank] but they cannot wait for the money they need
[millionday] and saw the benefit that the merging Almoisntin is not bad to override the legislative vacuum caused not approving the budget so far,
noting that the investment budget for the current year will be merged to finance projects to be set up this year with the provision of financial allocations for the establishment of projects next year and continued As for grades that have been identified in the current year budget,
due to the lapse of about six months and did not acknowledge the budget, it will be merged grades also with grades allocated in the budget next year. were leaks have hinted at the possibility of merging the current year budget, to not be approved so far, with next year's budget .
[millionday] note -- they are trying to find a way around leaving the projects not started and on the shelf they keep refering to -- obviously the issue is hage and they have to begin so lets look at the rest
[millionday] MP for the coalition of state law, Haitham al-Jubouri, in a press statement: The «Quartet, which was formed to resolve the problems related to the adoption of the budget like Palmatlh did not reach effective solutions», adding that «the remaining period is not sufficient to pass this budget and therefore will leave to the legislative session next ».
added that «there are leaks refers to the integration of the current year budget in 2014 with next year's budget in balance one», pointing out that «the government will switch after June 14 next to the caretaker government».
[millionday] i would assume that the time line needs to be filled with getting the budget done -- not making sense -- smile
[millionday] Jubouri said he «will be used the same mechanism in the disbursement of the budget for the current year », adding that« the current year budget has become burnt out and can not be used as a lever of political ».
noteworthy that the state budget has become the stuff of debate and an exchange of accusations between the political blocs all, they are still languishing in the corridors of the House of Representatives did not completed readings since that was approved by the Council of Ministers (January 15, 2014).
[jtank] Sure doesnt
[dovi] they are shooting themselves in the foot ... again
[millionday] note -- so as we know they are fighting and arguing and not getting it to the point of agreement by this report -- that is a huge shock and i wonder where they got those ideas smile
[millionday] competent Balchan financial and banking Samir Nasiri pointed out in his "morning" to talk of merging the budgets of the years 2014 to 2015 is considered premature, and there was no such trend in all economies in the process of integration to the presence of challenges, notably the lack of clarity in many of the financial issues associated with the passage of the budget.
[millionday] note -- so someone with some sense is saying that giving up right now in the middle of it and with all this time left over -- they cant say -- "uncle" yet -- very good point
[millionday] Alnasiri stressed the difficulty of achieving the idea of merging Almoisntin in the forefront of identifying fiscal revenue for the country, because our economy yield depends on oil as the main source to support the general budget and by more than 90 percent, pointing out the difficulty of extrapolate the global prices of crude oil in the international market amid conflicting world events that beset prices of oils in all parts of the world.
[millionday] note -- obviously he is stating that it is impossible to guess what condtion the global economy and the price of oil will be for next year due to the hopes that the many economic changes being activated and planned
[millionday] that is a very good point
[millionday] and added to the challenges facing the idea of merging the problem of determining the expenses allocated to local governments and the mechanism identified, as well as investment allocations that were not fired and that led to the stop all production projects and services,
and the biggest challenge lies in the lack of access to the final accounts for the years 2013 - 2014 contributes to the complexity of the planning for the budget year 2015,
as well as the other side, the complex is that the mechanism of exchange for the current year are independently 1 to 12, which stood projects Because of the difference between the executive and legislative branches.
[millionday] note -- determining the prices and expenses for the upcoming years would be impossible as well as we see here -- which is a good point as well -- how will they determine what it will cost in the beginning and what it will cost in the future for even setting up some of these reforms and administrative changes? not very well i would say
[millionday] and pointed out that the merger needs to be a thorough study by experts and interested parties in the private and public sectors to adopt the opinion and the right decision.
[millionday] so as we see -- there are many expected changes and they can not predict what costs they will bring or even the revenues -- so we should keep watching because it makes no sense to merge budgets they dont have anything but a guess about
[larrykn] why don't they do addendums so they can keep up with the budget as they go along -- but just get the budget done first
[millionday] the thing is that CBI has stated that they will not take anything less than the budget made into law so that is a very good point –
they should address CBI in this and see if they could make some type of agreement to move along a few months or something at a time -- some type of agreement that will get them rolling in country
[jtank] So the economy and all infrastructure within Irag would not get started and what would stop them from stalling 2015?
[millionday] it would be very hard to stall in 2015 with so many international contracts being activated -- they would have many problems in developing the heart of the economy -- (the private sector)
[coolspot] It is my opinion that the IMF will not allow them to delay the budget much longer, failing which Iraq will be in problems with the SBA.
[coolspot] I believe Budget will be approved quickly when a New Government is in place! Not before!
[millionday] i would agree -- the huge contracts that are planned to move the global economy forward in all parts of the globe can`t just be ignored -- it is just too positive and needed right now -- there is a lot of money tied up in this -- imo
[mudder] Didn't we read the WTO gave them a deadline????
[millionday] the thing with the WTO is that they are in the middle of pushing it forward faster than they normally do and by many experts in the midst of the agreements being made –
they are in the middle or have received the by laws for active accession and for agreement resolve -- that is very telling so they really have to get moving on this
[quicktolegit96] May have missed, we still can see a rate before budget rt?
[millionday] it is reported in so many different ways -- just remember that the politics in the middle of this are very obvious as well -- many are making announcements or letting things "leak" -- so action is much more important right now
[millionday] CBI has stated that they are moving forward with their job on the monetary reform with or without the budget in place and will be funding it with the international investment funds for contracts so --