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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by Proven Mon 07 Dec 2020, 8:44 am


Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the numbers to "reduce the financial deficit!"

2020-12-06

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Yes Iraq - Baghdad

The Parliamentary Finance Committee informed the Presidency of the House of Representatives, today, Sunday, that it will hold continuous meetings as soon as the General Budget Law arrives in Parliament for discussion and approval as soon as possible. It is likely that the 2021 budget will be approved at the end of this December.
"The government has postponed sending the budget to the House of Representatives so far due to the high oil prices in the global market, which requires reformulating the numbers in the budget sections to reduce the financial deficit ceiling and increase revenues," the committee's reporter, Ahmad Al-Saffar, said.
He explained that "the cabinet will meet next Tuesday and may approve the budget then or hold a special session to discuss and approve the budget next Wednesday, which means that the budget will reach the Presidency of Parliament early next week."
He added, "The draft budget is still up to the General Secretariat of the Council of Ministers to audit it in coordination with a special committee from the Ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year," indicating that, "according to government estimates that we have informed about the price of a barrel of oil." In the general budget it will be between 42 - 43 dollars.
The official spokesman for the Council of Ministers, Minister of Culture, Hassan Nazim, announced last week that the Council of Ministers decided to postpone its session devoted to discussing the draft Federal Budget Law 2021, until yesterday, Saturday, as it has not yet been held.
Expectations of the next deficit?
And on that, today, Sunday, a Foundation for Studies, the Iraqi government’s monthly expenditures exceeded the 6 trillion dinars barrier for the month of October, surpassing the general average for the year of 5.7 trillion Iraqi dinars.
The Future Iraq Foundation for Economic Studies and Consultations said in a statement that operating expenses for salaries rose to reach 3.45 trillion dinars, surpassing the general average for salaries of 3.34, an increase of 3.45%.
The statement pointed out that the expenditures for social care increased by 19% compared to the annual general rate to reach 1.5 trillion dinars, indicating that "the total expenditures of the Iraqi government have increased by 5.85% from the annual rate to reach 6.12 trillion dinars," noting that "the general rate was 5.7 trillion dinars.
The statement added that “at the level of imports, imports achieved an increase of 8% compared to the general rate of imports, and despite the decrease in oil revenues by 10% from the general average, a significant increase of 175% in non-oil revenues, as non-oil revenues amounted to 1.186 trillion dinars. It is higher than the general average of 431 billion dinars, and thus the total revenues for the month of October (last) will be 4.652 trillion dinars.
He pointed out that "despite the increase in revenues, the government recorded a real deficit of 1.5 trillion dinars, and thus the total cumulative deficit of the Iraqi state for the year 2020 has reached 15 trillion dinars."
The institution expected; That "the deficit until the end of the year exceeds more than 29 trillion dinars as a result of the need for the government to pay debts dues at the end of the year in addition to paying the amounts of oil licensing companies, which are expected to be worth more than 13 trillion dinars," according to the statement.



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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by annieharbers Mon 07 Dec 2020, 9:21 am

Thanks  Proven     Merry CHRISTmas    to all   and a BLESS New Years.

        
         Praying 2021  is much  better then  2020.            Praying for President Trump  he will be our President for 2021.  Giving  all the Glory to God.    GOD never loss a battle.

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by Proven Mon 07 Dec 2020, 3:33 pm

Tariffs at the border and updating the exchange rate to not cause inflation.....:)


Parliamentary Finance: The government decided to reformulate the budget due to high oil prices








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The Parliamentary Finance Committee revealed that the government decided to reformulate the federal budget bill for 2021.
Committee rapporteur Ahmed Al-Saffar said, "The government's delay in sending the budget to Parliament is justified because of the change in the price of oil these days and its rise to $ 49 a barrel and may rise further," noting that "Basra crude is more expensive than Brent crude and this requires the government to re-formulate the numbers in The budget to reduce the fiscal deficit and increase revenues. "
He added, "The other reason for the delay in the budget is the existence of understandings between the Ministry of Finance and the International Monetary Fund to update the exchange rate of the Iraqi dinar, as it is a sensitive issue and must be updated in a way that does not cause inflation."
Al-Saffar ruled out "the arrival of the budget to parliament this week because changing and checking it takes time, and I expect it to be sent to parliament next week."
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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by Nakluagator Tue 08 Dec 2020, 1:48 am

Proven wrote:


 "The draft budget is still up to the General Secretariat of the Council of Ministers to audit it in coordination with a special committee from the Ministry of Finance and the International Monetary Fund to update the Iraqi dinar exchange rate before the end of the fiscal year

According to the CIA website the fiscal year begins Jan 1. Of course this is Iraq. 306

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by Proven Wed 16 Dec 2020, 6:24 am

Green light?  Time will tell....



MOP: The 2021 budget was not included on the agenda of the cabinet session


Tuesday 15th December 2020 - 17:43
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Baghdad - INA
Minister of Planning Khaled Battal revealed that the general budget for next year was not included in the agenda of the cabinet session today, Tuesday.

"The price of oil was set at 42 dollars in the general budget for next year," Battal said in an interview with the Iraqi News Agency (INA), to be published at a later time.

He added that "the salaries of employees and their allocations in the general budget for the next year amounted to 50 trillion dinars," likening the 2021 budget to the patient.

He pointed out that the Minister of Finance informed him to send the budget to the General Secretariat for the next year, and it is likely that discussion will be completed within the next four days.

He indicated that an agreement was reached with the International Monetary Fund regarding the investment aspect of the budget.
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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by Proven Wed 16 Dec 2020, 8:04 am

Money from the borders to fund investments:


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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by weslin3 Wed 16 Dec 2020, 8:19 am

Hope we see Green!

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by zimi31 Wed 16 Dec 2020, 6:43 pm

Thanks Proven for all the  information and the sourcing...really appreciate all you and your team members do, Thank You!!!      thumbs

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by Proven Thu 17 Dec 2020, 6:58 am

Worried about inflation and taxes are going to be imposed.  

The Parliamentary Economic Committee meeting begins, in the presence of the Central Bank Governor, to discuss the rise of the dollar
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2020-12-17 | 07:24
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On Thursday, the Parliamentary Economic and Investment Committee held a meeting in the presence of the Central Bank Governor, to discuss the reasons for the high dollar price.


It is also scheduled that the Parliamentary Finance Committee will hold an emergency meeting this afternoon to discuss the reasons for the high exchange rate of the dollar, and to discuss the leaked draft budget law for 2021.

The main stock market and local markets in Iraq are witnessing a significant increase in the exchange rates of the dollar against the Iraqi dinar. Earlier in the day, the Kifah Stock Exchange recorded 137,000 dinars against 100 US dollars.







While the selling price in the local market was 138,000 dinars per 100 dollars, and the purchase price was 136,000 dinars per 100 dollars.

Alsumaria News obtained earlier today, Thursday, the draft general budget bill for 2021, which included deductions from employee salaries, and the imposition of taxes on several sectors.

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Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the  Empty Re: Oil "disturbs" Iraq's 2021 budget: an expected update of the "dinar exchange rate" and amending the

Post by jedi17 Thu 17 Dec 2020, 8:45 pm

weslin3 wrote:Hope we see Green!
Interesting you say this weslin, Iraqs only hope for wealth is what is beneath their feet, being Oil.  That said, they have a narrow time period now as they have squandered the golden years, that being the last ten years.  As we have all read, the electric cars are coming, and they will be here quickly, as all major car manufacturers are getting in on the EV future, and many will transfer most of their efforts to the EV.  Gas powered vehicles may actually be gone from new inventory lots by 2040, even Neno will be able to tell you about the new automated EV transport trucks now in the US, which means no driver required.  Things are going to change fast, and the requirement for oil will drastically be reduced in the next 10-15 years.

Want a real investment to look into, try North Americas only cobalt refinery, I bought 2500 shares this morning and profited $265 by day end.  Shares are now selling for $.35 canadian.  I am sure that today was a fluke, but....the canadian government gave this company 10 million yesterday to expand their production......and if you don't know what cobalt is used for, it is an essential component in a battery.

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