IQD CALLS Chat After Midnight 2-13-20
IQD CALLS Chat After Midnight 2-13-20
Kaperoni Hello
Kaperoni Here is a question from 13 Feb 20, 04:33 PM Young_SC Where do you get 48 trillion dollars to cover that budget that is about to come out??
Kaperoni The budget is not 48 trillion, it is over 148 trillion!
Kaperoni The way they are trying to accomplish this is about $100 trillion is the (regular amount each year) from oil sales and the additional 48 trillion is part of a new public/private partnership which was designed to kick off the private sector and rebuild the infrastructure.
There are several articles on this concept from last July-Nov or so that came out. It is not a RV or any other guru nonsense, just a plan to bring investors into Iraq to rebuild and have it financed/coordinated with the help of the GOI.
This is risky of course and recent talk is to modify this budget before it is passed as a result of the protests, delays to next year. Time will tell what they decide to do. But the idea was good at the time.
chattels Kaperoni good evening
Kaperoni Hi chattels
Kaperoni I will go back and try to find the article describing this partnership but may take a while.
chattels Kaperoni I recall it generally and as we know, unless and until the budget is passed into law, Iraq is treading water with the payment of salary and wages.
Kaperoni probably going to be a revised budget anyway, which will upset many
chattels Haven't heard a word about Kurdistan sending any oil to Baghdad. Waiting for that to blow up again.
Kaperoni I think they did
Kaperoni not certain but read something last week
chattels The budget agreement, again, which the Kurds say they can / will abide by this year, has been on hold with the government transition from what I have read, but ..
Kaperoni wouldnt be surprised
chattels I did read some encouraging news about the Kurds and Sunnis moderating their constitutional and quota positions in the new government.
chattels Representatives told the " Nina " reporter , "The formation of the interim government that Allawi will present will include 23 ministerial portfolios instead of the 15 portfolios Allawi had previously proposed on the first day of his assignment." https://ninanews.com/Website/News/Details?key=812380
chattels Baghdad / Nina / The political blocs have informed their representatives in the House of Representatives that the Prime Minister-designate Muhammad Allawi is in the process of offering the names of several candidates to each ministerial portfolio in the formation of the interim government, to ensure that the vote is as far as possible to give confidence to his incomplete cabin yet. https://ninanews.com/Website/News/Details?key=812367
Kaperoni We will see. its all talk at this point and we will see if they vote to approve him and his cabinet
Kaperoni I have my doubt since he and Maliki do not get along
Kaperoni This is not the article I was looking for but it describes the concept...
Kaperoni Presidency of the Parliament: We seek to approve a package of legislation in support of building non-oil wealth
Political | 02:41 - 28/09/2019 A member of the Presidency of the Council of Representatives, Hassan al-Kaabi, on Saturday, seeking to approve a package of legislation in support of building non-oil wealth.
Karim al-Kaabi, while attending one of the sessions of the Rafidain Forum for Security and Economy in Baghdad under the title "Iraqi economy .. axis of the regional economy", "reliance on oil to support the economic resources in the country is a big mistake."
He added, "The House of Representatives has initiated two important laws in this framework, namely the law of industrial cities and the amendment of the law of companies and seeks to approve a package of legislation in addition to the adoption of a neutral and balanced policy that will provide an attractive and supportive investment environment to build and diversify the wealth and non-oil resources of agriculture, tourism, industry and trade. As well as partnerships with the private sector. "
Al-Kaabi pointed out to the necessity for all political forces to activate their electoral programs, including supporting the national economy. ". Ends 29/43 https://www.mawazin.net
chattels Kaperoni Thanks.
chattels Bedtime for Bonzo here on the eastern edge of America. Good night all.
Kaperoni Here is another..not the one Im looking for but it describes a special law that was also needed to make this all work
Kaperoni Parliamentary Integrity: Parliament will discuss an important law that will make a qualitative leap in investment
14:16 - 12/09/20190 Information / Baghdad ….The Committee on Parliamentary Integrity, Thursday, that the House of Representatives in the discussion and passage of an important law would make a qualitative leap in the field of investment and boycotted the external contracts.
A member of the Committee Ahmed al-Mashhadani, in a statement to the information, that "the House of Representatives will be included in the agenda of its first session a very important law to make a qualitative leap in the field of investment and is an important aspect of fighting corruption."
Al-Mashhadani added, “The law will regulate and involve the public and private sectors in order to cut off external contracts and foreign importation.”
It is noteworthy that the Council of Ministers approved in a previous session the draft law of partnership between the public and private sectors and submitted to Parliament for the purpose of approval. Ends / 25 m https://www.almaalomah.com/2019/09/12/428510/
Kaperoni Here is another. and as I stated the plan was to launch this budget and also have a public/private sector partnership at the same time to get the market economy moving,
Kaperoni Kaperoni Moderator Posts: 53961
Parliamentary work: 60% of the 2020 budget will be allocated to investment and solve the unemployment crisis
15:39 - 04/09/20190 Information / Special…The Labor and Social Affairs Committee announced on Wednesday the allocation of 60% of the funds in the draft federal budget law for 2020 to invest and solve the unemployment crisis.
Committee member Fadel Al-Fatlawi said in a statement to Al-Maaloumeh that the government is heading towards the restoration of local industries and activating the private sector to spread the unemployed graduates.
He added that "the 2020 budget will allocate 60% of the volume of funds for investment and local industries to solve the unemployment crisis," noting that "operational budgets in previous years caused an increase in the number of unemployed and the expansion of unemployment of graduates."
The Committee on the Economy and Investment Parliament, on Monday, the existence of political parties to prevent the revival of local industries to not hit factories outside the country, while showing that some countries are not in favor of the return of local industries for the survival of Iraq market for consumer goods. Finished 25 T. https://www.almaalomah.com/2019/09/04/427240/
Kaperoni another describing the concept...
Kaperoni Economist: Budget 2020 will turn the country to an open market for international capital
19:45 - 18/08/20190 Information / Special…Economic expert Jassim Mohammed, on Sunday, that the draft federal budget law for 2020 will turn the country into an open market for international capital.
Mohammed said in a statement to the information, that "the government will make an economic mistake in the budget of 2020 being a similar version of the budgets of previous years, as it was allocated for investment only 2%, in addition to the absence of development," pointing out that "the budget is no longer in the hands of competent and this matter Negatively affects its financial estimates. ”
He added that "the government's fiscal policy in the preparation of federal budgets will turn the country to an open market for international capital," noting that "the preparation of the budget needs specialists to avoid recurring financial errors."
The parliamentary strategic planning committee, on Wednesday, attributed the high deficit of federal budgets to the absence of planning experts and the economy in the numbers of budgets, while showing that the surplus and deficit is estimated and away from reality.
Earlier, the Parliamentary Finance Committee revealed a large deficit in the budget of 2020 to reach 72 trillion dinars, after a year characterized by prosperity was a deficit of 27 trillion guesses compared to what is expected next year. https://www.almaalomah.com/2019/08/18/424041/
Kaperoni And yet another..
Kaperoni Parliamentary Finance: The next budget will be the highest in history spending and deficit
08:40 - 10/08/20190 Information / Baghdad ...revealed the parliamentary Finance Committee, on Saturday, details of the budget next year and the amounts allocated to it, noting that preliminary estimates indicate that it will be about 150 trillion dinars, the highest in the history of Iraq and a deficit of 72 trillion dinars.
Committee member Ahmed Hama said in a statement to the information that "discussions on the budget are still ongoing, but the features of the budget as a draft law is to be about 150 trillion dinars."
He added, "The amount allocated within the budget next year will be the highest in the history of Iraq's budgets by 150 trillion dinars, but the deficit will be about 72 trillion dinars."
Hama explained that "Parliament is moving towards reducing spending and reducing the budget deficit and not to rely on external debt as it is this year, in addition to the budget's dependence on investment and multiple sources of income instead of relying on the sale of oil and an estimate close to the budget next year." Ended / 25 KD Â https://www.almaalomah.com/2019/08/10/422719/
Kaperoni Parliamentary Finance: The 2020 budget will be built on the basis of the new government program
14:21 - 10/12/20190 The information / Baghdad .. Member of Parliamentary Finance Committee Haneen Al-Qaddou revealed on Tuesday that there is a tendency to reformulate the 2020 budget law to be in line with the new government program, indicating that the caretaker government cannot set the economic program for a full year.
Al-Kiddu said in a statement to "Information" that "passing the country's budget through a previous government program can never be based on the ideas of an expired government."
He added that "the next government is obligated to develop a new strategy to fortify and support the economy by diversifying funding sources and relying on other wealth, agriculture and industry, and then formulating a budget along the lines of the new program."
Al-Kiddu explained, "The current government is to conduct daily business and according to the law, it does not have the right to send the current budget to Parliament, which requires the next government to reconsider it radically." End / 25D https://www.almaalomah.com/2019/12/10/442917/
Kaperoni Well I didn't find the one I was looking for but if you read all these it will give you the picture of the plan for 2020 and how they plan to fund the deficit. Night all.
Kaperoni Some have wondered about IMF Article VIII, and why the CBI does not just accept it. This is a very difficult issue but the following is very important as you see once you go into it, you cannot go back to XIV.
Kaperoni 14. Under the Fund’s Articles, a member may formally notify the Fund of its acceptance of Article VIII obligations.
Such formal notification has certain legal consequences. A member is subject to the obligations of Article VIII, Sections 2, 3, and 4 as soon as it becomes a member of the Fund; no formal acceptance of these obligations is necessary.
The only legal consequence of a member’s notification of the acceptance of Article VIII obligations is that the member can no longer rely on Article XIV, Section 2 to maintain or adapt the exchange measures it had in place on its date of membership. Once it notifies the Fund of its acceptance of the Article VIII obligations, it loses the right to rely on Article XIV, Section 2 forever.
https://www.imf.org/external/np/pp/eng/2006/052606.pdf
Kaperoni The key... Once it notifies the Fund of its acceptance of the Article VIII obligations, it loses the right to rely on Article XIV, Section 2 forever.
Kaperoni ok good night
Kaperoni This is one of the good articles from a few months back...
Kaperoni A government decision to do the partnership with the private sector
9/16/2018 0:00 To implement vital projects that support the country's economy
Baghdad / Farah pumice Minister of Industry and Minerals Mohammed Xiaa announced the issuance of the Sudanese government 's decision to support and activate the partnership with the private sector, in order to attract companies, businessmen and investors Iraqis, Arabs and foreigners, to carry out vital projects supportive of the development of the economy and in Iraq.
And the holding of the Iraqi economy development in the middle of last month 's conference under the auspices of Prime Minister Haider al - Abadi, in order to develop the Iraqi economy and achieving sustainable development between the public sector and private companies sober.
In this regard , the economic expert said Ahmed is charged that activating the role of the private sector, attracting major investors, supports the work of partnerships between the public and private sectors, to implement the strategy and service projects in the country, contribute to the welfare of the Iraqi society.
He is charged in a statement the "morning": that " the preparatory meeting of the Conference endorsed by the Cabinet 's recommendations, in line with government directives, which serve the wishes of the Iraqi citizen in the provision of basic his services, as well as the national product support rather than that imported".
For his part , Director of the Center for Media and Public Relations at the Ministry of Industry and Minerals Abdul Wahid Alwan Al Shammari said in a statement to the ministry: "The cabinet in its session the usual thirty - third meeting held on 28 August last decided, the adoption of the recommendations of the first preparatory meeting of the Conference of the Iraqi economy development, including the approval of the abolition of Council resolution Ministers No. (492) for the year 2013, to be preceded by the conclusion of contracts for participat
Kaperoni participation procedures for the study of an integrated economic and technical feasibility study prepared by the owners of expertise and competence. "
He pointed Shammari to the importance and impact of the cancellation of the decision (492) for the year 2013 on activating the partnership contracts with the private sector and to attract Iraqi, Arab and foreign investors, pointing out that the ministry had its meetings and deliberations of many talks, with the departments, ministries and agencies concerned, to diagnose and overcome the obstacles that hinder the private investors sector .
The ministry has sought towards participation and investment with the private hard and skilled team sector, through tireless efforts in attracting companies, businessmen and investors, Bmayshm in the rehabilitation and operation of laboratories and corporate development, technology transfer and exchange of experiences, and adding new production lines, and the diversification of domestic production, and the implementation of vital projects , in order to build a national industry competition and supportive of the development of the economy and in Iraq.
For his part, urged the concerned authorities in charge to give a greater role to the private sector and attracting investors who are able to carry out important projects in the country, to relieve the burden on the government in the monitoring of additional funds for investment projects, which constitute a burden on the public budget.
Also said the partnership with the private sector will achieve a quantum leap in the country 's economy, which invests expertise and technological capabilities, as well as technical capacities and Investment manpower, to achieve the best services to the Iraqi citizen.
http://www.alsabaah.iq/ArticleShow.aspx?ID=163169
Kaperoni My point to all these articles is there is a reason for all these talk about a private sector. That is the focus at this time to create this market economy private sector to put people to work, create business and attract investment and reduce dependence on oil.
But more importantly is that this is required to create the conditions for the dinar to rise. Until they have a market economy/private sector there will be no change in the dinar. The daily guru nonsense in just that..nonsense. Iraq has work to do. Let's hope they can pick up some momentum as the year progresses to get back on track.