The dinar strengthened against the euro on Tuesday by 64 paras thus reaching a new record high in 2011 with the middle exchange rate at RSD 98.9874 for EUR 1, the National Bank of Serbia has announced. So far, the dinar's highest level against the euro was RSD 99.1051 on May 5, which is 12 paras down compared to today's exchange rate.
The dinar reached its lowest on January 6, with the exchange rate at RSD 106.4947. Since the beginning of 2011, the central bank intervened in the interbank foreign exchange market only once by purchasing EUR 5 million in order to ease excessive daily volatility of the exchange rate.
Iraq Finance News today may 17 2011 - Iraq’s Finances Ministry releases 50% of provinces development budgets
Iraq’s Finances Ministry announced on Monday that half of the ministries and provinces’ allocations for the year 2011 were released. The ministry announced that there is a number of proposals calling to increase allocations in next year’s budget.
After meeting with Najaf governor and head of the provincial council, Iraqi Finances Minister Rafea Al Issawi announced in a joint press conference in Najaf with Iraq’s Habitat and Construction Minister Mohammed Al Daraji that 50% of the provinces development budgets for all ministries and provinces have been released. The Ministry has a number of proposals for 2012 budget that consist of increasing next year’s resources and allocations, Al Issawi said.
Al Issawi denied media reports claiming that the ministry cancelled the debts of specified provinces.' The Ministry is studying the possibility to cancel all debts around Iraq. This issue is among the Parliament’s authorities”, he argued.
Iraq’s Finances Minister visited the city of Najaf to gather comments on 2011 budget and assess the requirements of 2012 budget, he said. A significant number of budget requests can be resolved in this year and next year’s budgets, he added.
“The Finances Ministry will overcome all bureaucracies in dealing with the provinces regarding banks, retirements, loans, college students’ requests, provinces development and the project of Najaf as the capital of culture”, Al Issawi noted.
Habitat and Construction Minister Mohammed Al Daraji affirmed that he has informed officials in Najaf about residential and roads projects plan. “The Habitat and Construction Ministry is carrying out two residential projects in Najaf which one is due to be completed at the end of this year”, Daraji said.
Iraq’s 2011 federal draft budget stipulates to estimate the budget’s revenues for the fiscal year 2011 at 78.705.237.500.000 billion Dinar according to main audits.
The draft budget stipulates as well to count the revenues resulting from crude oil exports at a price rate of 73 dollar per barrel and export rate of 2250000 barrel a day including 150000 barrel a day for the revenues resulting from crude oil exports via Kurdistan.
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