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Saturday, December 3, 2016

MNT GOAT UPDATE, 3 DEC

December 3, 2016 Mnt Goat News Brief

Hi Everyone,

I bring you much news today. So today is Saturday and what does this day bring us?
Is the budget then settled? Are we rich yet….lol…lol…?  

Update Saturday Dec 3, 2016- Vice Chairman of the Finance Committee Faleh applicable: - "The delay in the vote on the budget for 2017, the differences on the ratio of the population and export of oil and the benefits of Basra province".

​(I want everyone to note that this is why they need to do a complete and accurate “official” and “nonpartial” census of the population. So this tells us this is not yet completed and this created issues. Did you read the article I presented in the recent past on this issue? Basra was asking for an additional $5 per barrel of oil besides their share of the 17%. There is also back owed monies due)
Articles Begin
 
Basra rejects draft 2017 budget
 
K & / p p
Twilight News / rejected the local administration in the province of Basra on Saturday, a draft finance Iraq’s budget for next year, indicating that the financial budget ignored the rights of the province, a center of the oil industry in the country.
 
The head of the provincial council Albzona morning at a joint news conference with the governor, said that the draft project Tnzawa legal violations and conflicts with provincial law No. 21 of 2008 average.
He pointed out that the budget ignored the financial allocations of Basra that the project did its disposal the central government during the previous years as well as the non-allocation of the petro-dollar funds, demanding return of the project to the government for the purpose of amendment.
 
Turn conservative Majed Nasraoui said that “the federal government of the city of Basra at about 17 trillion dinars from the petro-dollar amounts that were not paid to the province during the previous years”, noting that the province did not get any allocations for the petro-dollar during the current year.
 
Nasroaa and threatened to resort to mass protests if the federal government did not respond to the demands of the province in the budget.
It was scheduled that the Iraqi parliament will vote today on the budget bill but delayed to tomorrow Sunday(if they agree to make the changes.If not this will go on and on. Remember that on Dec 5th the IMF is doing a review of Iraq to decide on the installment of 4 billion and they need a passed budget to get the money. So the pressure is on!)
 
 
CBI aims to raise the price of the dinar
 
BAGHDAD – Anatolia: Iraqi finance official said on Friday that the Central Bank of Iraq aims to raise the Iraqi dinar exchange rate against the dollar in the domestic market during the coming period in coordination with the government and private banks.

Said Majid picture, the governing body of a member of the Iraqi Central Bank, said that «the CBI identified in an earlier exchange rate as 1200 Iraqi dinars per dollar, and now we aim to maintain the exchange rate to the borders of 1210 or 1220 dinars to the dollar».

He added that «there is significant cooperation between the central bank and the civil government and the banks, on the sale of hard currency, and within a short period will be reduced dollar against the Iraqi dinar».

Although the Central Bank of Iraq announced earlier this year to install dollar against the Iraqi dinar rate of 1200 dinars to the dollar, and obliged all banks and banking companies to sell according to the new price, but that did not happen.

CBI has not officially announced so far for steps to maintain the local currency against the dollar, with the most important step taken by the central banks in this regard is to provide foreign exchange in the domestic market(so this has nothing, absolutely nothing to do with going international and revaluing the currency,…get it? NO RV! )  To maintain its currency. In a related development anticipate the picture that «there are positive effects of the agreement to reduce oil production of OPEC on the Iraqi dinar exchange rate».

He pointed out that «Iraqi revenues in hard currency may increase, and this will have a significant role in increasing the supply of foreign currency in the local market. And yesterday scored Iraqi dinar exchange rate against the dollar to decline up to 1320 dinars to the dollar.

The sale price of the national currency, according to the schedule of financial exchange in Iraq has reached 1320 dinars to the dollar, down from the official rate of exchange at the Central Bank of Iraq by 120 dinars to the dollar.

It is noted that in the last weeks of the Iraqi dinar exchange rate maintained at a rate of 1290 dinars to the dollar, but it is taking a gradual decline in nearly two weeks.

On the other hand the Economic Committee in the Iraqi parliament, said that 80 percent of the $ 312 billion sold by the central bank in 12 years, had been smuggled abroad. This came in an interview with a member of the economic and investment commission proof Mamouri, during a press conference with a number of members of the Committee. Said Mamouri «12 years ago to establish a central bank auction, it was sold 312 billion dollars in 80 percent of them turned out of Iraq». He explained that «the participants in the auctions sell the currency, the banks and companies, their goal was to obtain hard currency at a lower price to be smuggled out of Iraq, after the submission of forged trade documents».

He added that «the central bank’s policy has led to a significant waste of hard currency that enters the country as a result of the sale of oil». He pointed out that «the Central Bank reserves fell to less than $ 50 billion as a result of this policy.

The Iraqi central bank sold dollars to Iraqi banks and companies at a price of 1180 dinars to the dollar, while its price in the market is much more than that. (really? no kidding…lo

The resolution of the budget depends on calculating the salaries of 1.4 million employees in Kurdistan and Baghdad records
 
Ceyhan re Kirkuk oil receivers
 
Author: AB, MK
Editor: AB
12.3.2016 12:54 

Long-Presse / Baghdad
Finance Committee in the House of Representatives announced on Saturday, the approval of the Kurdistan Regional Government on the delivery of 300,000 barrels of Kirkuk and another 250 thousand from the fields to the company SOMO against the salaries of its employees, and as pointed out that the current dispute regard to calculating the number of staff of the province, has ruled out the resolution of the dispute today and approving the budget .

(As I said its all about the census and records of employees, pensions, etc…So here is a second article on this topic (one of about 10 that come out) as to why the budget is stalled until further notice, maybe tomorrow but I doubt it)

The committee member said Sarhan Ahmed in an interview with (long-Presse), “The Kurdistan Regional Government had agreed to deliver 300,000 barrels of oil fields in Kirkuk to the central government’s SOMO, as well as 250,000 barrels of Kurdistan fields in exchange for their employees’ salaries,” noting that “dispute is currently the number of provincial employees, numbering in the Federal Ministry of Finance records of 600 000 employees, while the real located far greater as a result of the appointments after 2004”.

Ahmed said that “Arbil Baghdad demanding the payment of salaries of 1.4 million employees, as well as employees of the social welfare and pensions,” ruling out “the possibility of resolving this dispute today. 
(remember still 90% of citizens employed but the govt,. This is exactly what the GOI and the IMF is trying to change with the privatization of the economy so they can move more people off govt payroll to private sector and thus have more govt money to rebuild Iraq. So this issue with the 2017 budget stabs right in the heart of what is going on. Do you now understand why Iraq must move to a private sector? At $110 a barrel of oil there was plenty of money to go around and plenty for corruption but now when oil is $35-45 a barrel they realized they must do something since this free for all has gone away. But is it s cultural change as well as an economic change)
 

Member of the parliamentary Finance announces expansion of the points of contention about the budget
 
Baghdad} Euphrates News announced the parliamentary finance committee member Husam punitive, on Saturday, widening the points of contention on the draft 2017 budget law.
 
He said punitive, told {Euphrates News}, "there are two paragraphs in the budget, the two Kurdish dispute over the oil accord, which led to the postponement of adoption of the budget last Thursday." 

"The other point of contention emerged on the allocation of 35% of the popular crowd according to the ratio of the population in the liberated areas, the fact that this paragraph were not placed by law." 

Punitive and pointed out that " the National Alliance met to discuss these two points, and if it was agreed that if these two points are added it will assure the passing of the budget in the House of Representatives." 

And the heads of the National Alliance blocks, today held a meeting with the parliamentary Finance Committee in the House of Representatives, to discuss resolving points of contention in the draft budget for the purpose of approval in the parliament session , which is scheduled to be held today to vote on next year 's budget law 2017
 
Articles End
 
 
Their words not mine…..No Rumors, No Hype, Just the FACTS!
 
Auf Wiedersehen
Much love to ya all,
Mnt Goat

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