Anyone else getting sick of window shopping? Where is the revalue?
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Anyone else getting sick of window shopping? Where is the revalue?
Deputy prime minister says Iraq needs new management system to handle its budget
International Herald Tribune
[07/03/2007]
Iraq's government needs a new management system to enable it to manage the country's unprecedented $41 billion budget, Iraq's deputy prime minister said Wednesday.
"It is unprecedented in the history of Iraq — we have $41 billion budget in which $10.5 billion is allocated for the investment budget," said Barham Saleh, one of two deputy prime ministers and head of the Cabinet's economic committee.
"But we have a problem because of the bureaucracy of the state and the government has been incapable on delivering on its commitments," Saleh told reporters after a conference sponsored by the Ministry of Finance to discuss the investment budget.
Saleh said the major problems in managing the budget were "the accumulated heritage" of Saddam Hussein's regime, a "bureaucratic mind" and corruption.
"We are trying to find new management systems to enable the government to work actively to implement its commitments," he added. "We want 2007 year to be the turning point for economically recovery of Iraq."
Ali Baban, the minister of planning, told the conference other major problems facing Iraq's economy were inflation, unemployment and poor services. He said the best way to confront those problems was to revive Iraqi industry.
"We do believe that reviving the sectors of agriculture, services and industry will develop the Iraqi economy," Baban said. "The government is still the biggest investor because we don't have an active private sector and huge foreign investments," despite the country's oil wealth.
"Corruption has become a dangerous element and is curbing the governmental work. This dangerous disease should not curb our efforts and we have to face it bravely and develop the capability of our supervision systems."
Finance Minister Bayan Jabr said the government hopes to use state funds to revive domestic industry and put about a half million people to work this coming year, offering "real services to the citizens."
http://www.iraqdirectory.com/DisplayNews.aspx?id=3366
CNPC seen regaining oil exploration rights to Iraq's al-Ahdab field
Last Updated: 9-March-2007 01:52:48
Assem Jihad, a spokesman for the Iraqi Oil Ministry, was quoted as saying that CNPC officials arrived in Iraq on March 6 to negotiate a new contract to jointly develop al-Ahdab.
After China won exploration rights to al-Ahdab in 1997, activities at the field were suspended due to UN sanctions and postwar security problems. The field has projected reserves of up to one bln barrels, it said.
The 1997 contract was valued at 700 mln usd over 23 years. Planned oil production was 90,000 barrels per day.
In February, the Iraqi Cabinet approved a draft Oil Law aimed at encouraging international companies to exploit the country's petroleum reserves, estimated at about 115 bln barrels.
The legislation is pending approval from parliament, it said.
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Sorry to contradict you, but the fighting between sunni and shia is rather to be compared with catholics and protestants killing each other for hundreds of years because both parts were convinced that they were right and the other side completely wrong. Also "the main guy" was sometimes rather blood-thirsty. Thank God that this conflict is over in the christian part of the world and let's hope that also the muslims sometimes will be able to live in peace with each other.
Fanatism is bad in any religion.
If we leave in the Fall of 08 kiss the dinar investment goodbye. Complete chaos will break out if we leave. Economic crash.... Toilet paper is official if this happens... :nono:
Paulie do you honestly believe that if that were to happen, that Iraq would stop pumping oil.? Dont you think that with all these laws albeit they are taking forever and beyond to enact, wont bring some stability to this region as there economic problems start to stabilze so will hopefully some or most of the bloodshed. Iam not saying I think the Dems are right, but I do not think it will be as bleak as you think. Although I could be very very wrong!LOL Hows that for hedging my words.
benzboy