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LoveThisFamily:  Fascinating budget development. The only reason to pass it on time…for the first time in a long time…is that it’s time to finally spend it.  IMO

Walkingstick:   The United Nations welcomes the approval of Iraq’s budget for 2016, and hopes to further reforms

News Source: Ali Abd al-Salman  December 17, 2015 17:23

The United Nations welcomed the passage of the Iraqi Council of Representatives of the country’s budget for 2016.

Internationalist Representative in Iraq, Jan Kubis said in a statement Buratha news agency received a copy of it, “I would like the government and congratulate the Iraqi Council of Representatives to adopt the 2016 budget law, and I’m pleased with the decision of the House of Representatives.”

He added that “at this critical economic environment, Levan legislation Budget 2016 law was appropriate and allows the government as well as regional and local authorities to focus on service delivery and support of the population, including millions of people displaced internally, while maintaining the fight against terrorism and the elements Daash”



RR: Frank! I sure you saw this article today. It does not SCREAM as other articles do, but BOY does it say a lot! See article Below:

They say Iraq is losing money left and right by selling oil and not reinvesting the proceeds into developing the agriculture and industry. Furthermore, they “waste” hard currency by importing input goods (cement, steel, etc.).

As they state, TARIFFS will protect industry and as well as direct funds from oil proceeds and taxation into the development of their economy. The know they need the tariffs NOW. They will protect and grow the economy!

And we know what goes hand and hand with the tariffs….. RR


Walkingstick:  In the parliamentary economy by reducing stresses the waste of hard currency and activating the customs tariff

History of edits:: 2015/12/17 15:54 •   [Baghdad – where]

stressed the economic and investment commission member of the parliamentary Almamori proof, on the necessity of activating the law of customs tariff, and reducing waste Alsabbarh currency through import.

Said Mamouri, in a statement received by the agency all of Iraq [where], a copy of “falling oil prices and the global detection of the wrong policies that were followed by previous governments to rely on the export of oil to support the general budget, and not to use the surplus funds in the formation of a production base, both The industrial or agricultural.

“He added that” the decline in oil prices led to a large deficit in the financing of the general budget, whether operational or investment, that causes us to immediately start finding alternatives and relying on Iraqi products service of goods, as well as Iraqi factories of cement, iron, steel and reduce import through the activation of the customs tariff and the protection of the local product laws which reduces waste in hard currency, which drains in the importation of products manufactured locally.

“He noted the parliamentary economics member to” The committee worked through a whole year and great effort and was able to achieve the rate of investment, which included significant concessions to activate the law this important sector and these privileges included industrial and agricultural sector and the production of consumer goods.

“He called Almamori government to” Send a private investment law in refining crude oil for adoption Iraq is lost annually billions of dollars in import of oil derivatives, taking into consideration that the establishment of oil refineries to achieve significant revenue for the state as well as to stop the import of oil derivatives.

“He called on the government to” reconsider its oil licensing rounds and that the bulk of the benefits of the oil customs go to manufacturers because of the high cost of a barrel produced by these companies with low oil prices, which makes the interest accruing very little of the oil sector, so it must reconsider these contracts in order to achieve the benefit of the Iraqi state.

“The Ministry of Industry and Minerals, accused in a statement today,” internal and external views of “unnamed”, to work on the hit local industry and waste of hard currency in order to drain the national economy, “noting that” Iraq has suffered from a dormant industrial intentional over the past years “.anthy

http://www.alliraqnews.com/modules/news … ryid=24401