I guess we aren't the only ones that believe in huge deficits, is it possible the greatest US export is unsound financial planning?
http://www.edinarfinancial.net/news/?quer=&nm=&ny=&nn=601
Supplementary budget shows deficit of Iraqi dinar 3.9 trillion
July 29, 2009
“The supplementary budget, submitted to our committee, has an Iraqi dinar 5.3 trillion deficit. The committee believes that there is no need to present a supplementary budget with such a huge deficit,” Alaa al-Sadoon said.
On July 19, the Iraqi cabinet approved a draft supplementary budget for the current year, prepared by the Finance Ministry. The budget was planned to be devoted to provinces suffering from lack of allocations.(Source)Aswat Iraq
Showing posts with label iraqi dinar exchange. Show all posts
Showing posts with label iraqi dinar exchange. Show all posts
Saturday, August 1, 2009
Thursday, March 5, 2009
Buying Iraqi Dinar, Daredevil or Dumba$$
They are cutting back in tough economic times, when it is on sale, isn't that a great time to buy?
Are you currently buying Iraqi Dinar, and if not, why not?
Iraq finance minister resists budget cuts
Wed Mar 4, 2009 8:28pm IST
By Ahmed Rasheed
BAGHDAD, March 4 (Reuters) - Iraq's finance minister on Wednesday rejected a bid by parliament to cut the 2009 budget because of slumping oil revenues, but lawmakers said they remained determined to slash spending by up to 10 percent.
Minister Bayan Jabor told a heated, four-hour meeting of parliament's finance committee that the $62 billion budget for this year should be passed as it is, despite being based on optimistically high oil prices.
The finance minister argued that parliament could cut back spending plans in June in a supplementary "negative budget" if oil prices, from which war-battered Iraq gets more than 95 percent of its revenues, remained depressed.
"We want to keep the budget as it is," Jabor told Reuters. "We insist on keeping the budget as it is because we have investment projects that should continue ... and the government has already cut the budget by around $7 billion."
Lawmakers, however, said they were not convinced and would push for a vote on Thursday on two similar proposals, either to cut 10 percent -- 7.4 trillion dinars ($6.2 billion) -- or to cut 6.8 trillion dinars ($5.8 billion) in spending.
The Iraqi government is in a bind. It is being starved of revenues just when it desperately needs money to rebuild after the years of bloodshed unleashed by the 2003 U.S. invasion.
If the government fails to restore services, equip its armed forces and improve the lives of Iraq's 28 million people, there could be a resurgence in violence, some analysts warn.
Lawmakers say a lot of money is being squandered by government entities and the budget cuts can be implemented without affecting investment spending.
Are you currently buying Iraqi Dinar, and if not, why not?
Iraq finance minister resists budget cuts
Wed Mar 4, 2009 8:28pm IST
By Ahmed Rasheed
BAGHDAD, March 4 (Reuters) - Iraq's finance minister on Wednesday rejected a bid by parliament to cut the 2009 budget because of slumping oil revenues, but lawmakers said they remained determined to slash spending by up to 10 percent.
Minister Bayan Jabor told a heated, four-hour meeting of parliament's finance committee that the $62 billion budget for this year should be passed as it is, despite being based on optimistically high oil prices.
The finance minister argued that parliament could cut back spending plans in June in a supplementary "negative budget" if oil prices, from which war-battered Iraq gets more than 95 percent of its revenues, remained depressed.
"We want to keep the budget as it is," Jabor told Reuters. "We insist on keeping the budget as it is because we have investment projects that should continue ... and the government has already cut the budget by around $7 billion."
Lawmakers, however, said they were not convinced and would push for a vote on Thursday on two similar proposals, either to cut 10 percent -- 7.4 trillion dinars ($6.2 billion) -- or to cut 6.8 trillion dinars ($5.8 billion) in spending.
The Iraqi government is in a bind. It is being starved of revenues just when it desperately needs money to rebuild after the years of bloodshed unleashed by the 2003 U.S. invasion.
If the government fails to restore services, equip its armed forces and improve the lives of Iraq's 28 million people, there could be a resurgence in violence, some analysts warn.
Lawmakers say a lot of money is being squandered by government entities and the budget cuts can be implemented without affecting investment spending.
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