More News, Rumors and Opinions Tuesday Afternoon 3-7-2023
TNT:
Tishwash: The region's finance minister: We agreed with Baghdad on Kurdistan's share in the 2023 budget
The Minister of Finance and Economy of the Kurdistan Regional Government, Awat Janab Nuri, confirmed, on Tuesday, an agreement with the federal government on the region's share of the current year 2023 budget.
During the reception of the Consul General of the Agency of the United States of America in Erbil, Zahra Bell, the head of the political and economic department, David Codel, the political official, Joshua Lewis, and the economics and energy expert at the consulate, Fahil Amedee, Nuri explained the latest results of the talks between the Kurdistan Region and Baghdad, according to a statement received by Shafak Agency. News.
The statement quoted Nuri, "Within the framework of the Kurdistan Regional Government's decision to solve problems with Baghdad, we have shown the utmost flexibility, and we have reached an agreement on the region's budget, and the final drafting of the items has been completed by both sides."
For her part, the Consul General praised the role of the KRG delegation in reaching an agreement with the Iraqi government on the budget and oil and gas issues in the Kurdistan Region. link
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Tishwash: It reaches 170 trillion dinars.” New details of the 2023 budget
The Finance Committee in the House of Representatives expected, on Tuesday, the volume of oil revenues in the 2023 budget, the final spending figure, and the amounts of its operational and investment budget, according to the new exchange rate.
Committee member Mueen Al-Kazemi said, “A committee from the Ministry of Oil set the price of a barrel in the budget at a ceiling of 65 dollars, and the exchange rate of the dollar at 1,300 dinars, and on this basis we expect that oil revenues will be 135 trillion dinars, in addition to other revenues from collection and other files, to reach the budget.” To 170 trillion dinars, and this is a reasonable number, but the government aspires to reach 200 trillion dinars.
He explained, "The size of the expected operating budget will be 90 trillion dinars, and the investment budget 80 trillion to feed important projects in the fields of health, education, electricity, and financing the Faw Grand Port and the Dry Canal projects."
He pointed out, "The region's percentage of the budget, if it accepts the delivery of clear statements of its revenues from oil, taxes, and border crossings, could exceed 12%."
Al-Kazemi added, in an interview with the official news agency, that "the House of Representatives hopes that the budget will arrive this month, and the parliament and the Parliamentary Finance Committee will devote themselves to discussing and approving the budget after its arrival." link
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Courtesy of Dinar Guru
Militia Man The Council of Ministers referred to dealing in dinars. It says there's no justification for citizens to use foreign currency in local transactions. In other words in their local transactions there's no reason to be doing anything outside of the dinar...if you're going to go buy a car - dinar. You're going to go buy a loaf of bread - dinar. Just the way it's going to be...
Frank26 [Iraq boots-on-the-ground report] FIREFLY: My bank friend thinks soon we will see the CBI talk about the lower notes and the upcoming rates. It's all pointing to this. He says everything now being set at 1320 but he still thinks we will see another move soon on the exchange rate. Then to 1 to 1 ratio before the float internationally. FRANK: IMSO everything your bank friend is telling you is 100% correct. This month of March will show you what he...told you. You will see your new small category notes and new exchange rate. Remember you will see it first in article print and then it will be given to you physically. These are exciting times as we cross the finish line together...
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