“Tidbits From TNT” Tuesday 10-8-2024
TNT:
Tishwash: Ranked 29th out of 100 countries, Iraq raises its gold holdings to more than 152 tons
The World Gold Council announced on Tuesday that Iraq has increased its gold holdings to more than 152 tons.
According to the latest table published by the Council in September 2024, which Shafak News Agency reviewed, "Iraq ranked 29th out of 100 countries listed in the table with the largest gold reserves," indicating that "Iraq ranked third in the Arab world after Saudi Arabia and Lebanon."
He added, "Iraq increased its gold holdings to 152.6 tons, after its gold holdings were 148.3 tons, which represents 11% of its remaining reserves."
The Council also pointed out that "the United States of America is the largest country in the world with the largest gold holdings, at 8,133.5 thousand tons, followed by Germany with 3,351.5 thousand tons, then Italy with 2,814 thousand tons, while Bosnia and Herzegovina came in last with 1.5 tons."
The World Gold Council is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world. link
Tishwash: Ministry of Oil announces the start of exporting jet fuel
The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, announced the start of aviation fuel export operations from Iraqi ports.
The Undersecretary said in a statement, "The ministry has started aviation fuel export operations at a rate of (800-1000) tons per day, from export outlets, noting that the Iraqi production of aviation fuel comes within international specifications and standards.
He pointed out that the export process is a step in the right direction, to enhance Iraq's role globally among the countries producing and exporting oil and its derivatives, in addition to that it reflects the prospects for development in the Iraqi oil industry.
He added that the export operations of oil products contribute to increasing the financial revenues achieved from the activities of the oil sector, thus supporting the national economy. link
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Tishwash: Revealing the features of the 2025 budget tables
A government advisor revealed the features of the 2025 financial budget schedules.
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that "Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government shall send the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year."
He added that "the Ministry of Finance has announced that it is in the process of preparing the general budget tables for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Three-Year Budget Law."
He pointed out that "based on the indicators of budget implementation over the first two years provided for by the aforementioned Law No. 13, the financial authority has the necessary administrative and financial capabilities to submit the 2025 budget tables to take their legislative path through discussion and approval in the Council of Ministers and refer them to the House of Representatives before the end of this year."
Saleh noted that "the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, ensuring that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024."
He stressed that "major reconstruction projects will continue to progress in accordance with the vision of the government program to ensure the continuity of growth rates in the gross domestic product in general and the gross domestic product (non-oil) in particular." link
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Tishash: Federal Finance sends Kurdistan Region salaries for September, parliamentarian confirms arrival
An informed source reported on Tuesday that the Iraqi Federal Ministry of Finance will transfer the salaries due for the month of September to the employees of the Kurdistan Region from Baghdad within the next three days, indicating that they will be disbursed immediately upon arrival of the amount.
According to information obtained by Shafaq News Agency, the Financial Supervision Bureau and the Ministry of Finance in Iraq have completed the process of auditing the payrolls of Kurdistan Region employees for the month of September, and the remaining amount is expected to be transferred during this week.
The source stated that after the government in the Kurdistan Region receives the financial amounts from Baghdad, it will, in turn, in cooperation with the region’s internal revenues, begin distributing employees’ salaries.
Meanwhile, the member of the Iraqi parliament for Sulaymaniyah province, Karwan Mirwais, stated on his official Facebook page that the Iraqi Ministry of Finance had transferred an amount estimated at one trillion dinars to the Ministry of Finance of the Kurdistan Region.
According to Mirwais, this amount is allocated to pay the salaries of civil, military and security employees for the month of September.
The salary file in the Kurdistan Region is witnessing continuous tensions due to the delay in sending financial dues from Baghdad, which leads to the postponement of the distribution of salaries to employees.
Previous agreements have been reached between the Kurdistan Regional Government and the federal government to ensure the continuation of salaries, but delays in sending dues remain a constant source of concern for employees in the region. link
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