backdoc » November 30th, 2014
THE LOWER THE OIL PRICE GOES IN THE BUDGET, THE HIGHER THE RATE OZ WILL GIVE! DOC
HOW LOW WILL OIL GO? MMMMM
MAYBE A BETTER QUESTION IS HOW HIGH DOES THE EMPIRE WANT THE DINAR ??? MMMM DOC
11/30/2014 4:13 p.m. News >> Prime Minister of Iraq vows to complete the budget in 2015 in 10 days
The delay in approval was due to falling oil prices.
Iraqi Prime Minister Haider al-Abadi vowed on Sunday in front of the House of Representatives to complete the 2015 budget within 10 days, indicating that the government's delay in approval was due to falling oil prices.
It was scheduled to perform Cabinet draft budget on Saturday to send it to the House of Representatives for approval, but the drop in oil prices continue to put the government in a quandary.
Iraq relies on oil imports to finance 95% of the budget, and the country exports about 2.5 million barrels per day.
The Council decided at a special meeting yesterday the formation of a ministerial committee to review the state spending to the deficit, which he described as dangerous government statement processing.
Abadi and attended the House of Representatives session on Sunday to explain the reasons for the delayed adoption of the budget and pledged during its completion within ten days.
He said the Iraqi prime minister, said that the decline in oil prices and behind the delay in approving the budget of the government, according to a parliamentary source quoted him as speaking for the agency Anatolia.
After the "OPEC" decision to keep its production ceiling unchanged, crude oil prices fell, which fell barrel WTI light in New York to below $ 70 for the first time since June 2010, while Brent crude lost in London $ 5 .
Iraq did not recognize the current year's budget in 2014 because of disagreements between the political blocs on the terms and clauses contained in the budget bill, and the worsening violence after the invasion of the organization of the Islamic State "Daash" to the north and west of the country.
The cause of the former parliament failed to pass the federal budget disable hundreds of projects within the 2014 plan as well as inflicting great damage on the country's overall economy.
Usually the Iraqi authorities to approve the financial budgets delayed because of differences between the politicians and the aspects of exchange and management of the country's wealth, but that the new government headed by al-Abadi will try to prove themselves quickly to pass the budget to parliament.
Preliminary estimates indicate that Iraq's budget for next year of about $ 100 billion based on the price of $ 70 a barrel.
The preliminary estimates indicate that the allocation of about a quarter of the state budget for the Department of Defense with the intensification of fighting between the Iraqi army and the organization "Daash."
Ebadi said during a parliament session on Sunday that he signed my book on the formation of the leadership of operations for the Liberation of Nineveh province of al Daash order.
He said the Iraqi prime minister, the army and the attribution of the popular militias crowd of international air strikes began restoration of the nearby areas of Mosul and was able to clear the danger from Baghdad, pointing out that military operations to restore Anbar province (west) has already begun.
And controlled Daash over vast areas north and west of the country, including the major cities of Mosul, northern Iraq Nineveh province. - Bağdad
Even though just a few years ago we were hoping for oil to hit $100/barrel.....I'm agreeing with you on this backdoc.....it makes sense that as the price of oil falls, the Iraqi's will need to offset that in some manner....raising the rate would seem to be that solution.
backdoc » November 30th, 2014, 1:44 pm
YES RANDY !!!
THIS IS WHY I SAY OIL IS A CURRENCY !!!!
ALL CURRENCIES CHANGE IN DIRECT PROPORTION TO EACH OTHER!
YOU CAN'T CHANGE ONE WITHOUT THE OTHER!
ONE'S GAIN IS THE OTHERS LOSS!! BINGO !!!!
backdoc » November 30th, 2014
WE MAY NOT SEE INK ON IT BUT I BELIEVE THEY WILL PASS THE BANKING REFORM LAWS PRIOR TO ANY OTHER IMPORTANT LAWS OR AT THE SAME TIME IN THE ONE BASKET AS THEY HAVE STATED! DOC
WITH RECENT OIL SALES NOW KICKING INTO GEAR IT'S SELL, SELL, SELL !!
THE KURD OIL TANKERS SHIPPED WILL SEE ITS PAYMENTS WORK THEIR WAY THROUGH THE GOVT. AND INTO THE HANDS OF OZ AS WELL AS OTHER PLACES IT WILL GO!
THIS WILL BE IMPORTANT BECAUSE I EXPECT WE WILL SEE ALL KINDS OF ARTICLES SOON ON UPGRADING IRAQS CREDIT RATINGS! THIS IS WHY WE SEE THEM SAY THEY TAKE THEIR FINANCIAL OBLIGATIONS SERIOUSLY!
THIS IS IMPORTANT BECAUSE IT DETERMINES THE RATE AT WHICH THEY WILL BORROW MONEY FROM AND HOW THE WORLD VIEWS THEM FROM A TRUST ISSUE FINANCIALLY!!!
ITS ALL ABOUT BUSINESS NOW !!!
IT'S TIME TO GET LONELY!!!! DOC