"Tidbits From TNT" Monday 10-31-2022

Oct 31

TNT:

CandyKisses: The Central Bank of Iraq informs the Sudanese of the progress of monetary and banking transactions

Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani briefed, on Monday, the nature of banking and monetary transactions of the Central Bank of Iraq.

Al-Sudani's media office said in a statement received by Shafaq News Agency, that the latter met with the Governor of the Central Bank of Iraq, Mustafa Ghaleb, and listened to a briefing on the conduct of monetary and banking transactions, and the rest of the aspects of the banking reality in Iraq, presented by the Governor of the Central Bank.

The meeting also witnessed a review of all aspects of the Central Bank's work, and the most important challenges facing the national economy.

Tishwash: More than 90 billion dollars in Iraqi oil revenues in 9 months

Iraqi oil revenues from crude oil that were exported during the 9 months of the current year 2022, amounted to more than 90 billion US dollars.

According to a statistic issued by the "SOMO" company, and seen by Shafak News Agency, "the revenues of Iraqi exported oil during the first nine months of the current year 2022 amounted to 90 billion and 388 million and 786 thousand and 336 dollars, at a monthly rate of 10 billion and 43 million and 198 million and $481.

And she added, "These revenues increased from the last year 2021 by 70.6 percent, as the financial revenues amounted to 52 billion and 981 million and 515 thousand and 830 dollars, at a rate of 5 billion and 886 million and 515 thousand and 830 dollars."

She pointed out that "May of the current year 2022 witnessed the highest financial revenue from oil sales, reaching 11 billion and 477 million and 514 thousand and 4 dollars, while January was the lowest month in terms of revenues, reaching 8 billion and 322 million 679 thousand and 526 dollars. ".

Iraq depends by 96 percent on oil revenues in its general budget, and previous governments were subjected to great pressures with their inability to pay employee salaries and other operating expenses as a result of the drop in oil prices to below $ 30 a barrel at the beginning of 2020 with the spread of Covid 19 disease before it returned Prices to go up again link

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MontanaCoach: I keep reminding myself what Tony said about them pushing the program rate 1190 and rv-ing in January! Their history doesn't bode well for fast action

Yada: Think we are at the point that even the info providers have received all they will receive. Now, we are in the "Engage" command.

RVAlready: I agree, Yada. I would not be surprised if the bank guys who gave Tony and Ray the data yesterday met with discipline from their bosses from giving out info.

Grace Renewed: “Remember, remember the 5th of November, gunpowder, treason and plot…” This was the date on which Guy Fawkes, a Catholic renegade, dramatically failed to blow up London's House of Lords. This cultural memory has been faithfully preserved for over 400 years.

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Tishwash: Iraq's revenues are 90 billion dollars within 9 months, and its expenses are about 54 billion dollars.. 40% of the revenues remain as a surplus.

Iraqi oil revenues from crude oil that were exported during 9 months of the current year 2022 amounted to more than 90 billion US dollars, an average of more than 10 billion dollars per month, while Iraq's expenses during 9 months amounted to about 54 billion dollars.

According to statistics issued by the “SOMO” company, “the revenues of the Iraqi exported oil during the first nine months of the current year 2022 amounted to 90 billion and 388 million and 786 thousand and 336 dollars, with a monthly rate of 10 billion and 43 million and 198 million and 481 dollars.”

And she added, "These revenues rose from the last year 2021 by 70.6 percent, as the financial revenues amounted to 52 billion and 981 million and 515 thousand and 830 dollars, at a rate of 5 billion and 886 million and 515 thousand and 830 dollars."

She pointed out that “May of the current year 2022 witnessed the highest financial revenue from oil sales, reaching 11 billion and 477 million and 514 thousand and 4 dollars, while January was the lowest month in terms of revenues, reaching 8 billion and 322 million 679 thousand and 526 dollars. “.

On the other hand, the state’s expenditures during 8 months amounted to 69.5 trillion, which means about 8.7 trillion per month, i.e. 5.9 billion dollars per month spent by Iraq, which means during 9 months its expenses amounted to 53.5 billion dollars, i.e. out of 90 billion dollars in 9 months, there is a surplus of 36.5 $1 billion, most of it going to the central bank's reserves. link

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Tishwash: The draft general budget law 2023 could be approved this month

The legal expert, Ali Al-Tamimi, revealed, on Monday, October 31, 2022, the possibility of submitting the draft general budget law for 2023 this month for approval in the House of Representatives.

Al-Tamimi said, in a statement followed by the obelisk, that “Article 62 of the constitution requires the government to submit the final accounts to Parliament before approving the budget,” explaining that “Article 8 of the Financial Management Law No. 6 of 2019 required the Ministry of Finance and Planning to submit the draft general budget law to The Council of Ministers at the beginning of September of each year.

And he continued, “Article 11 of the above law requires financial management to the Council of Ministers after receiving the budget and submitting it to Parliament after discussing it in mid-October,” noting that “Article 13 of this law above said in the event that the general budget law is not approved until the 31st of the month.” December The Minister of Finance issues instructions to spend at a rate of 1/12 of the total expenditures.

The legal expert pointed out that "the internal and external borrowing law for the year 2020, it is only under which it is possible to borrow internal and external for the year 2020 only."

And the Prime Minister, Muhammad Shia Al-Sudani, directed the sending of the draft budget law as soon as possible.

And the General Secretariat of the Council of Ministers stated, in a statement, that “Al-Sudani directed the Ministry of Finance to send the draft federal budget law for the Republic of Iraq, for the fiscal year / 2023, to the Ministerial Council for Economy as soon as possible for study.”

And she added: And then send it to the General Secretariat of the Council of Ministers; To include it in the Cabinet’s agenda, in order to speed up its legislation, due to its importance, pointing out that the directive came during the Cabinet’s meeting in its first regular session, held on 10/28/2022. link

Mot: ..... How Bout a Different Color! - OK!! ~~~~