MilitiaMan Update Monday Evening 5-15-2023

Private Sector is the Goal - Qualitative Leap for Economic - Financial -Investments

MilitiaMan and Crew:  5-15-2023

Thoughts on banking systems, the Iraqi budget, HCL law, contracts, an International Exchange rate and more…….

Please listen to full report for all the news.

https://www.youtube.com/watch?v=I9eUTxAbvEQ

"Tidbits From TNT" Monday 5-15-2023

TNT

CandyKisses:  For a budget without a deficit. Iraq needs to sell oil at $75.8 a barrel

The International Monetary Fund saw that Iraq needs to sell a barrel of oil at a price of $ 75.8 to achieve parity in the budget and stay away from the deficit. 

A table of the Fund seen by Shafaq News Agency showed that the balance in Iraq's budget for 2023 will be achieved if the price of oil it sells is $ 75.8 per barrel, after it was $ 66.5 for the year 2022, $ 53.3 for the year 2021, and $ 56.6 for the year 2020.

"The equilibrium of the price needed by Iraq is expected to increase in 2024 to reach $76.4 per barrel.

He pointed out that "the most countries that need a higher price in selling oil in order to equalize their budget are Bahrain at $ 126.2 per barrel for 2023, while the least countries are Qatar, which only needs $ 44.8 per barrel to equalize its budget during 2023.

Tishwash:  Political expectations of a series session during the passage of the budget

On Monday, the representative of the Law Coalition, Muhammad Al-Saihoud, confirmed the existence of a prior political agreement to pass the budget law during the next few days, indicating that the budget is in the process of agreeing on the last points.

 Al-Zion said in a statement to Al-Maalouma that "the State Administration Coalition, which brings together most of the political forces, has finally agreed to pass the budget law during the current week without putting any obstacles in place."

 He added, "The draft budget has been subject to extensive discussion by the relevant committees, and the volume of spending will be reduced, as well as the deficit to acceptable limits, in order to start approving it."

 He pointed out that "what matters to parliament at the present time is redressing the popular segments affected by previous governments and launching service and educational projects as quickly as possible."

The Deputy Speaker of the House of Representatives, Shakhwan Abdullah, had confirmed the parliament's intention to vote on the federal budget law this week.  link

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Tishwash:  Signing Iraqi-Emirati memorandums of understanding on investment opportunities

It was announced in the capital, Baghdad, the signing of memorandums of understanding on Emirati investment opportunities in Iraq, as part of the activities of the Iraqi-Emirati Business Forum, which launched today, Monday, under the auspices of Prime Minister Muhammad Shayaa Al-Sudani.

The memorandums included the signing of a memorandum of understanding between the Federation of Iraqi Chambers of Commerce "represented by Abdul Razzaq Al-Zuhairi" and the Federation of UAE Chambers of Commerce "represented by Abdullah Muhammad Al Mazrouei", and the signing of a memorandum of understanding between the Baghdad Chamber of Commerce "represented by Firas Al-Hamdani" and the Abu Dhabi Chamber of Commerce "represented by Abdullah Muhammad Al-Mazrouei," and the signing of a memorandum of understanding between the Iraqi Businesswomen's Council, "its representative, Sabah Al-Tamimi," and the UAE Businesswomen's Council, "its representative, Fatima Al-Awadi."/ End  link

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CandyKisses:  Robotic factory opens to produce high-performance adhesives in Basra

Basra / Nina / Basra Investment Commission inaugurated today "the first factory powered by robots to produce high-performance adhesives and liquids in the construction industry at a cost of $ 12 million in the Zubair district, south of Basra.

The head of the Investment Commission, Alaa Abdul Hussein Salman, told the Iraqi National News Agency (Nina) that the production capacity of the plant is more than 400 thousand tons per year of adhesives and liquids, and these materials comply with international standards in this field. Indicating that it is available in 16 different types as a first stage to reach 30 types during the next eight months, allowing to meet the requirements of different industries.

For his part, the director of the laboratory, Ammar Al-Jubouri, said that the laboratory relies on robotics techniques in production processes, which helps to increase productivity, improve the quality of products and reduce human errors. He pointed out that the factory machines were imported from Germany, due to their progress in the field of engineering and production.

He added, "The factory is a great achievement in the manufacture of high-performance adhesives and liquids in Iraq and is considered a qualitative leap in this field for its contribution to meeting the needs of the local market and producing high quality products that are accepted.

Mot:  .... Figured out to show off I did!!! ~~~

Mot: .. Only ""Cat"" owners can Relate!! --- siiggghhhhhh

Monday Morning Iraq Economic News Highlights 5-15-23

Monday Morning Iraq Economic News Highlights 5-15-23

The "Suspended Train" Is Waiting For The Budget

Reconstruction and building   Economy News – Baghdad  The Director General of the General Company for Iraqi Railways, Younis Khaled, said, on Monday, that the suspended train project has been adopted by the Ministry of Transport and has been included in the current year's budget.

 Khaled added, in an interview with the official news agency and its follow-up, "Al-Iqtisad News", that "once the budget is approved, this project will be implemented inside the capital, Baghdad, and it will be the first fruits of internal railway transportation."

He explained, "The first phase of the suspended train project will be 20 km long, with 22 stations inside Baghdad, on the sides of Karkh and Rusafa, and in important centers."

And he continued, "There will be other stages if the first stage is completed, and it is hoped to serve other areas in Rusafa as well as the Bismayah region, as well as linking Baghdad Airport with a train that departs from the International Station or from the Baghdad center, in order to reduce the burdens on the Iraqi citizen and reduce traffic."  Views 94  05/15/2023 -   https://economy-news.net/content.php?id=34209

The Finance Committee Begins To Detail The Budget In Preparation For Its Passage

Information / Baghdad.. The Parliamentary Finance Committee announced, on Monday, that it has begun to dismantle the budget items, stressing the need to analyze the incoming items and paragraphs that determine the government's expected spending and revenues.

The committee stated in a statement that it received the information that it "held a meeting chaired by Atwan Al-Atwani and in the presence of its members, regarding the completion of the Federal General Budget Law for the fiscal years 2023-2024-2025, and to present its proposals."

And she added, "The committee proceeded, at the outset of the meeting, to read the items of the budget and the first article related to revenues, selling oil at a price of (70) dollars per barrel, and the second article related to operational and investment expenses, the deficit and project ratios."

And she added, "The committee held detailed discussions on the budget, and it was stressed the need to analyze the items and paragraphs contained that determine the expected expenditure and revenues for the government and speed up their completion within a specific period of time." LINK

Parliament Holds A Crucial Meeting With The Conservatives To Finalize The Budget

Information / Baghdad ..   The Parliamentary Services and Reconstruction Committee hosted, on Monday, all the governors of Iraq to discuss the budget items and the listed projects.

The information agency correspondent stated that the Parliamentary Services and Reconstruction Committee met under the chairmanship of Representative Ali Al-Hamidawi, Chairman of the Committee, and the presence of members, to discuss financial allocations and the priority of provincial projects included in the Federal General Budget Law.

He added that the meeting is the last and decisive for all governors with the committee before going towards passing the budget during the coming days. LINK

Political Expectations Of A Series Session During The Passage Of The Budget

Information/Baghdad..    On Monday, the representative of the Law Coalition, Muhammad Al-Saikhoud, confirmed the existence of a prior political agreement to pass the budget law during the next few days, indicating that the budget is in the process of agreeing on the last points.

Follow the "information" channel on Telegram.. news that does not need to be documented..

 Al-Zion said in a statement to Al-Maalouma that "the State Administration Coalition, which brings together most of the political forces, has finally agreed to pass the budget law during the current week without putting any obstacles in place."

 He added, "The draft budget has been subject to extensive discussion by the relevant committees, and the volume of spending will be reduced, as well as the deficit to acceptable limits, in order to start approving it."

 He pointed out that "what matters to parliament at the present time is redressing the popular segments affected by previous governments and launching service and educational projects as quickly as possible."

The Deputy Speaker of the House of Representatives, Shakhwan Abdullah, had confirmed the parliament's intention to vote on the federal budget law this week. LINK

Oil Smuggling And Pipeline Deterioration Are The Biggest Challenges For The Government

The first  2023/05/14    Baghdad: Muhannad Abdel Wahhab   Oil experts and deputies point to weaknesses in the oil export system in the national institutions, indicating that unifying the outlets will significantly reduce smuggling operations.

A member of the Oil and Gas Committee, Representative Bassem Al-Gharibawi, said that his committee visited Basra two months ago, "and was briefed on the most important matters, including the export system and the problems it suffers from in some pipelines that are intended to be included in the ministry's plans," calling for "the need to develop these systems."

Al-Gharibawi added, in an interview with "Al-Sabah", that "officials of Basra and South Oil confirmed the possibility of production reaching 5 million and 500 thousand barrels per day, if the export system is reformed," pointing out that the committee "met with the Prime Minister and urged him to reform the system to provide an opportunity for Iraq."

With export, because it is now restricted according to the OPEC organization with certain quantities of export, and it cannot be exceeded, and in any case it is not possible to increase exports, no matter how high the production is, due to the inefficiency of the production system.

Export.” He explained that “the subject of export is separate from smuggling because the latter is a different case and has specialized mafias,” adding that “there is a committee formed in the House of Representatives in the Oil and Gas Committee, which formed a sub-committee to follow up on smuggling, whether it is crude oil or products

In turn, the oil expert, Sabah Alwan, said: "Iraq has a system for the export process, but there is clear confusion, as this system is not qualified to keep pace with the production process," noting that Iraq "is currently trying to raise production to 6 million barrels per day, Despite the current production reaching 5 million with the Kurdistan region, Iraq actually exports 3 million and 450 thousand barrels.

https://alsabaah.iq/76850-.html

Vote On The Budget Within Days

Iraq  2023/05/15    Baghdad: Shaima Rashid    And Muhannad Abdel Wahab   The Parliamentary Finance Committee continues its meetings to finalize the draft budget, hoping that its draft will be completed by the end of this week as a maximum, so that a vote on it will take place on the 25th of May, amid expectations that the deficit included in it will remain and be satisfied with making transfers, at a time when deputies demanded fairness in the central and southern governorates in the budget. 

A member of the Finance Committee, Jamal Cougar, told Al-Sabah: “The budget deficit is planned and not real, because it is a financial plan for one year,” noting that “there are two approaches within the committee; The provinces and ministries through transfers, and the second direction is that there should be a reduction in the deficit and the transfer procedure.

Cougar believes that the budget amount will remain the same and go to the option of transfers, according to the reasons he specified by saying:

“All practical indicators say that oil prices this year will be between 70 and 80 dollars, and therefore our resources will remain the same, and the second indicator is that - through our study For all previous budgets - the government's completion rate did not reach, and the spending did not exceed 80%, and therefore if implementation does not exceed this matter, 20% of the budget will reduce the real deficit, and originally there will be no real deficit," explaining that "the approval of the budget was long delayed, The government will not be able to spend all the budget during the remaining period.

And he continued: “With regard to the deficit in the next two years, this budget will be a budget for one year in terms of schedules, and as schedules, the government is mandated to provide schedules for future budgets, and the government will not have a budget in 2024 without sending schedules to it, and the same is the case for the 2025 budget, indicating that the “finance committee In order to avoid the planned deficit in the budget for the coming years, it will go to the option of adding two restrictions.

The first is that this deficit is related to the 2023 budget, and the second restriction is that the government must send the next year’s budget schedules at the end of it, and the same applies to the 2025 budget.

Regarding the date for its approval, Cougar said, "(The State Administration Coalition) set May 17 as a preliminary date for voting on it, but we believe that May 25 is an appropriate period for its approval."

The Deputy Speaker of the House of Representatives, Shakhwan Abdullah, announced yesterday, Sunday, that the vote on the federal budget law will take place this week.

In addition, a member of the Parliamentary Oil and Gas Committee, Ali Al-Mashkoor, told Al-Sabah: “The budget situation with this amount of deficit will not pass easily, and therefore the Finance Committee went to host all ministers, officials, governors, and local administrations in order to legalize and reduce this deficit.” He warned that a deficit in this way would put the federal government in a "financial dilemma," as he put it.

At the same time, he stressed, "Supporting the government of Prime Minister Muhammad Shia'a al-Sudani by reducing the budget deficit, even if it is at the expense of some ministries or provinces."

In turn, Representative Alaa Al-Haidari said, in an interview with "Al-Sabah", that "there is a great injustice for the central and southern governorates in the budget, and there will be a position for the central and southern deputies, specifically the Basra governorate, which is Iraq's economic basket, and 93% of the budget's imports are from the Basra governorate, and we hope From the brothers in the Finance Committee, and with the support of all deputies, the fairness of the central and southern governorates.

Meanwhile, the Minister of Finance, Taif Sami, said, during her hosting of the Parliamentary Finance Committee, yesterday, Sunday: “The file for returning those whose contracts were terminated was included in the 2023 budget,” and pointed out that “the salaries of employees, retirees, and social protection will not be affected,” and she added: “We are continuing By installing contract holders for those who have two service cents.   Edited by: Muhammad Al-Ansari   https://alsabaah.iq/76914-.html

Parliamentary Condition For Passing The 2023 Budget: What Is Happening Is Unacceptable

2023-05-14  Posted On2023-05-15 By Sotaliraq   The representative of Wasit Governorate, Bassem Naghimesh Al-Gharibawi, confirmed, on Sunday, that the representatives of central and southern Iraq have a firm position not to vote on the general budget for the year 2023 unless an increase in the allocations of their governorates is obtained, indicating that only 2.5 trillion dinars are allocated to 15 governorates. In the budget is "unacceptable."

Al-Gharibawi said, "Wasit governorate is like other governorates in the center and south, but it has a specificity in that it is an agricultural and oil governorate that needs investment in these two areas, in addition to public services."

He added, "The representatives of central and southern Iraq have a firm position not to vote on the budget in the event that there is no increase in the allocations of their provinces," noting that "some regions of the central and southern governorates suffer from a severe lack of services, so they need to increase the allocations to serve the citizens."

He continued, "It is unreasonable for the Ministry of Housing and Construction to spend 3 trillion dinars, in contrast, to allocate only 2.5 trillion dinars to 15 governorates, as this is unacceptable."

He pointed out that “the government adopted, in its ministerial and governmental program, support for the agricultural sector, but when examining the budget, it becomes clear that 1 percent or less has been allocated to agriculture,” asking, “How can this amount be developed and advanced?”

Al-Gharibawi called for a transfer to raise this number, noting that “the Finance Committee hosted about 20 ministers, and the final results will be announced in the coming days regarding the places of the transfer and the observations of the Finance Committee and its response to the observations of the representatives.”

Regarding the oil sector, Al-Gharibawi pointed out, “There are 17 oil fields in Wasit Governorate, but the investor is only the (Badra and Al-Ahdab) fields. Therefore, we ask the federal government to include Wasit in the fifth round supplement and also in the sixth round, so that there will be investment and the provision of labor for the people of the province.”

The House of Representatives is scheduled to hold a special session this week to vote on the draft general federal budget law, after the Finance Committee completed its final report on the draft law, according to Deputy Speaker of the House Shakhwan Abdullah. LINK

Goldilocks " March 21st 2023 to June 30th 2023. Everything revalues." 5-15-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted some comments and links this morning:

The revaluation of everything:

March 21st 2023 to June 30th 2023. Everything revalues.

From that moment forward, the QFS will have all platforms completed and ready to populate around the world starting July 1st 2023.

At that time, a new digital gold standard era will begin.

© Goldilocks

https://amg-news.com/qfs-the-new-financial-system-step-out-of-the-matrix-and-into-the-golden-age/

Many economists believe we are in what is called trading ranges for the next few years to a decade. 

This is another way of saying that the markets are going to trade between a 1 to 3% range. 

This will increase productivity, but it is expected to expand productivity through artificial intelligence more so than people. 

People will be turning to alternative sources for growth opportunities in their income outside of traditional lines of credit. 

The adoption of gold and a digital economy for growth on the consumer level looks like an inevitable path at this point.

© Goldilocks

The Dally HODL LINK

~~~~~~~~~~

"On May 15, the world (https://www.breakinglatest.news/category/world/)‘s first “interconnection” mechanism for derivatives – “Swap Link” opened."

Northbound Trading of Swap Connect is open for business. International investors can now trade interest rate swap products in Hong Kong and the Mainland.

This opens the door for global electronic platforms to commence trading with "Swap Link."

A swap is when two parties agree to make frequent financial payments to one another. This will increase money flow and interest payments that will create money out of thin air.

The East and Western half of our world is beginning to formulate digital currency opportunities between one another allowing foreign currency exchanges at the push of a button.

© Goldilocks

https://www.breakinglatest.news/business/the-worlds-first-interconnection-mechanism-for-derivatives-swap-opens_oriental-fortune-network/

https://www.investopedia.com/ask/answers/06/benefitsofswaps.asp#:~:text=An%20interest%20rate%20swap%20involves,the%20same%20in%20another%20currency.

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Iraqi News Highlights Sunday Evening 5-14-23

Iraqi News Highlights Sunday Evening 5-14-23

Tlm724 Administrator Bondlady’s Corner

The Central Bank Governor Comments On The Recent Rise In The Dollar Exchange Rate

Economy News – Baghdad   The Governor of the Central Bank, Ali Al-Alaq, affirmed, on Saturday, the follow-up of the exchange rate situation and the development of appropriate solutions to any problems, and while he referred to the implementation of purchase requests from merchants and citizens as a whole, he pointed out that those who refrain from buying from official platforms may have problems and illegal dealings.

Al-Alaq said in a statement to the Iraqi News Agency that "the central bank has a daily follow-up of the dollar exchange rate to find out all the factors related to the exchange rate and any influences on the price."

He added, "The Central Bank is trying to find solutions to it and the appropriate channels, and we are walking close to the market to identify the problems that occur in order to set the price in its official direction."

He explained that "the Central Bank implements the purchase requirements and the needs of all citizens from the dollar, and each price remains outside the official price, either for speculation or for illegal actions."

He pointed out, "Whoever goes to buy the dollar from the black market at a price higher than the official one, despite the availability of the official one through the approved platforms, there may be problems in the transactions that he performs."  Views 1172   05/13/2023 - https://economy-news.net/content.php?id=34180

The Iraq Stock Exchange Trades Shares Worth 11 Billion Dinars In A Week

Money  and business   Economy News – Baghdad  The Iraqi Stock Exchange announced, on Sunday, the trading of shares with a financial value that exceeded 11 billion dinars during the past week.

A report on the market stated that "the number of companies whose shares were traded during the past week amounted to 52 joint-stock companies, while the shares of 48 companies did not trade because the prices of purchase orders did not meet with the sales orders, while two companies continue to stop for not providing disclosure out of the 103 companies listed in the market."

He added, "The number of traded shares amounted to 27 billion and 36 million and 974 thousand shares, an increase of 388% compared to the previous week, with a financial value of 11 billion, 590 million and 980 thousand dinars, down by 9% compared to the previous week through the implementation of 2529 deals."

He pointed out that "the ISX60 traded prices index closed at 670.79 points, recording a decrease of 1.38% from its closing level in the previous session."

And he indicated that "the number of shares purchased from non-Iraqi investors for the past week amounted to 68 million shares, with a financial value of 139 million dinars, through the implementation of 52 deals, while the number of shares sold from non-Iraqi investors reached 3 million shares, with a financial value of 15 million dinars, through the implementation of 13 transactions." ".

Views 118   Added 05/14/2023 - 3:18 PM   https://economy-news.net/content.php?id=34194

Preventing Merchants And Citizens From Dealing In Dollars In Local Markets

Economy| 08:36 - 05/14/2023   Baghdad - Mawazine News  The Ministry of Interior prevented merchants and citizens from dealing in dollars in markets and shops, and limited this process to dinars.

The Director of Operations Department at the Organized Crime Directorate, Brigadier General Hussein Al-Tamimi, said during a monitoring campaign that was launched in this regard, "The Organized Crime Directorate at the Ministry of Interior issued a circular banning merchants and citizens from dealing in markets, shops and commercial centers in dollars and limiting this process to dinars, and this comes within the campaign it launched." The ministry, in coordination with the Central Bank, under the title of supporting the Iraqi dinar.

Al-Tamimi said, "Written pledges were taken from the owners of shops and commercial centers that dealings would be in dinars instead of dollars," pointing to "the deployment of civilian detachments to take legal measures against violators."

He pointed out, "The directorate aims, through the campaign, to limit the exploitation of weak-minded people by the discrepancy in dollar prices and selling them goods or materials of all kinds in this currency," according to the official newspaper, Al-Sabah.

He added, "The Directorate specified dealing in dollars exclusively in the central bank and exchange offices authorized by it," noting that "the Directorate of Combating Organized Crime continues to intensify its campaigns to monitor the high prices of food and medicine in the local markets in Baghdad, in coordination with the commercial and intelligence control departments to detect price manipulators." or monopolists of commodities and merchandise.

Al-Tamimi continued, "The commercial control compares prices according to the pricing of the Ministry of Commerce and the invoices of merchants to detect weak-minded people taking advantage of the high dollar prices." Ended 29/N33    https://www.mawazin.net/Details.aspx?jimare=226802

Central Bank: Illegal Dealings Are Behind Some People's Refusal To Buy Dollars From Our Platforms

Economy| 06:40 - 05/13/2023   Baghdad - Mawazine News,   the Governor of the Central Bank, Ali Al-Alaq, confirmed today, Saturday, the follow-up of the exchange rate situation and the development of appropriate solutions to any problems. illegal.

Al-Alaq said to the official agency, followed by Mawazine News, that "the central bank has a daily follow-up of the dollar exchange rate to find out all the factors related to the exchange rate and any influences on the price."

He added, "The Central Bank is trying to find solutions to it and the appropriate channels, and we are walking close to the market to identify the problems that occur in order to set the price in its official direction."

And he continued, "The Central Bank implements the purchase requirements and the needs of all citizens from the dollar, and each price remains outside the official price, either for speculation or for illegal actions."

And he pointed out, "Whoever goes to buy the dollar from the black market at a price higher than the official one, despite the availability of the official one through the approved platforms, there may be problems in the transactions that he performs." https://www.mawazin.net/Details.aspx?jimare=226777

Over $222 Million Central Bank Sales At Auction Today

Economy| 01:20 - 05/14/2023   Baghdad - Mawazine News  recorded the Central Bank's sales of dollars in an auction today, Sunday, more than 222 million dollars.   https://www.mawazin.net/Details.aspx?jimare=226825

In The Document.. The Central Bank Explains The Procedures For Reducing The Exchange Rate By 7 Points

Today 15:08  In the document.. The Central Bank explains the procedures for reducing the exchange rate by 7 points

https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg

https://almaalomah.me/news/economy/بالوثيقة-البنك-المركزي-يشرح-اجراءات-تخفيض-سعر-الصرف-بـ-7-نقا

[Partial and incomplete Translation of https://media.almaalomah.me/archive/image/2023/5/14/18f1b8f4-ca87-4bc0-b222-d0f0ea86c46e.jpg   

Date: 2023/5/4

To / Mr. Representative Muhammad Jassim Muhammad Ali Al-Khafaji, the honorable

M / Parliamentary question

Referring to your letter numbered M22/937 on 4/60/2023, we would like to state the following:

1[. The main functions of the Central Bank of Iraq is the management of monetary policy, which

It aims to control inflation, stimulate the economy, balance the balance of payments, and achieve stability

Execution by controlling the exchange rate of the US dollar through the currency sale window.

2. That all import operations are carried out according to the official price of 1320 dinars per dollar, as it meets this! the bank

Demands for cash dollars for travel and medical purposes are at the same official rate.

3. Iraq is a net importer of most commodities and merchandise due to the lack of a productive apparatus that meets

domestic demand; The reduction of the exchange rate of the US dollar against the Iraqi dinar leads to

Make the prices of imported goods cheaper for residents within the country.

4. The decision to raise the value of the Iraqi dinar is commensurate with the rise in the current account of the balance

Payments, especially in light of the increase in foreign reserves, which exceeded 110 billion dollars

American; The flight also curbed inflationary expectations, which have worsened in recent months.

5. The difference between the official exchange rate and the market rate is due to several factors, including establishment

The new electronic platform between the Central Bank of Iraq and the participating commercial banks

The window to process external transfer requests, which led to restricting the supply of foreign currencies

It is supposed to be temporary until the banks adapt to the new situation

https://almaalomah.me/news/economy/بالوثيقة-البنك-المركزي-يشرح-اجراءات-تخفيض-سعر-الصرف-بـ-7-نقا

Parliamentary Finance: Allocating One Trillion Dinars To Implement The Projects Of The Iraq Development Fund

Political       Yesterday, 17:06  Baghdad – conscious  Today, Sunday, the Parliamentary Finance Committee announced the allocation of one trillion dinars to implement the projects of the Iraq Development Fund.

And the media department of the House of Representatives stated, in a statement received by the Iraqi News Agency (INA), that

"the Finance Committee hosted, headed by Representative Atwan Al-Atwani, and in the presence of its members, Advisor to the Prime Minister, Muhammad Al-Najjar, to review the programs listed for the Iraq Fund for Development and projects that support the private sector to create development and investment opportunities."  The statement added,

"The committee welcomed the advisor to the prime minister, and clarified about the idea of establishing the Iraq Fund for Internal Development to improve the attractive investment environment and launch sustainable economic and social development."  He added,

"An amount (one trillion) dinars has been allocated to implement the projects included in the fund, and to accelerate the Iraqi economy to supplement the budget and the state treasury," noting that

"projects that include all sectors and promote sustainable development that preserve natural resources and improve the future life of future generations." Developing strategic plans to improve performance.  He referred to "the

types of projects included in the initiative, including projects with

social returns,

small service projects, and

profitable projects, in addition to the

Digital Transformation Fund, the

Agriculture Fund,

Industry and

others," stressing that "the

fund aims to

involve the private sector in supporting reconstruction efforts." Iraq and

its development and

rebalancing to activate investment in the country, and

work to finance development and urban projects, and that the

fund manages these funds and implements approved projects to

rebuild the country's infrastructure,

improve health and educational services,

strengthen the economy and

develop agricultural and industrial industries.

https://www.ina.iq/185110--.html

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Awake-in-3D : Calculating the USD Value of 100T ZIM Bond in RZB Digital Gold-backed Tokens

Awake-in-3D

Calculating the USD Value of 100T ZIM Bond in RZB Digital Gold-backed Tokens

Once Zimbabwe’s currency is stabilized, will the RZB eventually open their Golden ZIM Token for exchange internationally?

More specifically, will all of us legal owners of 2008 AA Series ZIM Bonds be able to redeem our bonds 1-to-1 for Gold-backed ZIM digital tokens at its current (or future) value?

Doing the math (based on published Gold Token value data from the Reserve Bank of Zimbabwe May 12th, 2023):

A 100T ZIM bond will buy the equivalent of 991.375 billion milligrams of gold (purchased in ZIM digital gold tokens)

Current valuation of gold set by RZB is equivalent to $0.0688 USD/mg (according to actual source data from Reserve Bank of Zimbabwe).

This means a 100T ZIM bond would be worth approximately $68 Billion (current) US Dollars in gold-backed digital ZIM token value (if redeemed 1-to-1).

Well ok then… When do we redeem?!!

Does Zimbabwe have access to that much gold (or equivalent gold certificates)?

 Right now they don’t. Or do they?

@GCR_RealTimeNews

Many Blessings,

 Ai3D

https://t.me/GCR_RealTimeNews/293GCR Real-Time News, [May 14, 2023 at 13:13]

Some "Vietnam News" Posted by Henig at KTFA 5-14-2023

KTFA:  Vietnam

Henig:  Vietnamese đồng one of most stable currencies in Asia: Experts

May, 13/2023 - 09:51

The United Overseas Bank (UOB) rated the Việt Nam đồng as one of the most stable currencies in Asia, despite significant changes in the Fed's interest rate hike expectations as well as concerns about a global recession and instability of the US banking system.

HÀ NỘI — Amid fluctuations in the global financial market, the exchange rate in Việt Nam has remained stable in the first four months of this year, and the Vietnamese đồng is considered one of the most stable currencies in Asia, according to experts.

Market analysis reports released by Mirae Asset Securities Vietnam showed that in April, the USD/VND exchange rate dropped 0.2 per cent and the average exchange rate hovered around VNĐ23,500 per US dollar during the month. The rate has remained stable throughout the January-April period.

The United Overseas Bank (UOB) rated the Vietnamese đồng as one of the most stable currencies in Asia, despite significant changes in the Fed's interest rate hike expectations as well as concerns about a global recession and instability of the US banking system.

Mirae Asset noted that the State Bank of Vietnam had bought a large volume of foreign currency in the first four months, raising the foreign exchange reserves to around US$90 billion.   

Đào Xuân Tuấn, head of the Foreign Exchange Management Department under the State Bank of Vietnam (SBV), said that since the end of 2022, the foreign exchange market has developed positively and gradually become stable.

The USD/VND exchange rate tends to decrease and stabilise again, he said, adding that the recovery of the Vietnamese currency against the US dollar since December 2022 was similar to that of many other currencies in the region such as the Japanese yen, Chinese yuan, the won of the Republic Korea and the Thai baht. 

Tuấn said that the increase in foreign currency supply enabled the SBV to buy more foreign currencies for the foreign exchange reserves.

In the first four months of this year, the SBV bought nearly $4.9 billion from credit institutions, up about $1 billion from the amount recorded at the end of the first quarter of 2023.

Experts from VNDirect forecast that Việt Nam's foreign exchange reserves will recover to reach $102 billion by the end of this year.

Meanwhile, Moody’s Investor Service has forecast that Việt Nam’s forex reserves excluding gold will rebound to $95 billion by the end of the year as the State Bank of Vietnam rebuilds its stockpile.

Nishad Majumdar, an analyst in Singapore, held that the recent appreciation of the đồng, which reflects the improved external position, will give the central bank space to rebuild the forex buffers that were spent down during the US dollar’s rally last year.

Việt Nam’s reserves stood at $88.3 billion in January, according to the International Monetary Fund.

Majumdar held that the recovery in tourism and steady foreign direct investment inflows will help boost the nation’s reserves even as exports weaken.

The đồng has advanced 6 per cent in the past six months, joining a rally in Asian peers, as the US dollar has weakened.

He recommended that Việt Nam prioritise exchange rate stability as a means to stabilise inflation and create certainty for inbound investors.

A stronger đồng reduces the local-currency value of the Government’s external debt, which still accounts for about a third of overall Government borrowing, he said. 

It will also likely mitigate the impact of higher import and manufacturing input costs into domestic inflation, giving the authorities further space to pursue a more accommodative monetary policy, the expert added. — VNS    LINK

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Henig:  Banking sector’s digital transformation day to take place next week

09:05 | 13/05/2023

The digital transformation day of the banking sector will be held on May 18, the State Bank of Vietnam (SBV) announced at a press conference in Hanoi on May 11.

Hoang Thanh Nhan, Editor-in-chief of Thoi bao Ngan hang (Banking Times) newspaper, said the event aims to review outcomes achieved by the banking industry after two years of implementation of its digital transformation plan until 2025, with a vision for 2030.Hoang Thanh Nhan, Editor-in-chief of Thoi bao Ngan hang (Banking Times) newspaper, said the event aims to review outcomes achieved by the banking industry after two years of implementation of its digital transformation plan until 2025, with a vision for 2030.

It is expected to promote a national digital transformation programme and change the awareness of organisations and individuals about its role in the operation of the industry, she added.

Within the framework of the event, there will be a thematic conference on the application of population data in banking activities - the driving force for digital transformation - and an exhibition displaying outstanding services and products in digital transformation of banks and payment intermediaries.

Pham Anh Tuan, head of the Payment Department under the SBV, said that positive results have been recorded in digital transformation activities of the banking sector.

According to the Ministry of Information and Communications, in 2021, the State Bank of Vietnam ranked first in cyber security readiness and fourth in terms of digital transformation activities. Up to 95% of credit institutions have been carrying out digital transformation strategies at their units.

In the first three months of this year, non-cash payment transactions increased by 53.51% in quantity compared to the same period of last year while ATM transactions decreased by 2.37% in volume and 4.02% in value, reflecting a shift to electronic payment, Tuan said.

Source: VNA    LINK

Iraqi News Highlights Sunday Afternoon 5-14-23

Iraqi News Highlights  Sunday Afternoon 5-14-23

Tlm724 Administrator Bondlady’s Corner

The Stability Of Dollar Prices In Baghdad With The Closing Of The Stock Exchange

Economy   Sunday, May 14, 2023 4:40 PM   Baghdad / The National News Center   The exchange rates of the US dollar stabilized against the Iraqi dinar today, Sunday, with the closure of the main stock exchange in Baghdad.  The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 146,100 Iraqi dinars against 100 dollars, while the prices this morning were 146,200 dinars.”

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad have stabilized, as the selling price reached 146,500 dinars, while the purchase amounted to 145,500 dinars for every 100 dollars."    https://nnciraq.com/205411/

International Monetary Counts Iraq's Non-Oil Revenues

Economy   Sunday, May 14, 2023 12:14 PM   Follow-up / National News Center   On Sunday, the International Monetary Fund counted the Iraqi non-oil government revenues for the year 2022, confirming that they amounted to 4.7% of the gross domestic product.

And the fund stated in a table that was seen by the National News Center, that “non-oil Iraqi government revenues amounted to 4.7% of GDP in 2022,” noting that “these revenues increased from 2020, which was 4.4%, and decreased from 2021.” Which was 8%, while these revenues were between 1990 and 2000 at a rate of 5.5%.

The fund expected that “the value of non-oil revenues from the gross domestic product in Iraq will increase for the year 2023 to reach 5.2%, but it will decline again for the year 2024, to reach 5.1%.”

He pointed out that “Iraq was the least oil-producing Arab country with non-oil government revenues, while the highest Arab oil-producing country with non-oil government revenues was Kuwait, as non-oil revenues of its GDP amounted to 39.3% for the year 2022, followed by the UAE with revenues amounting to 21.9%. of its GDP for the year 2022.    https://nnciraq.com/205326/

The Arrest Of A Former General Manager At The Ministry Of Industry In Lebanon

Iraq   Sunday, May 14, 2023 Baghdad / The National News Center  The Federal Integrity Commission announced today, Sunday, the arrest of a former director general in the Ministry of Industry on Lebanese soil.

In a statement received by the National News Center, Al-Nazaha stated that “the recovery department in the Commission announced that the Lebanese authorities had arrested the fugitive convict, the general director of the Specialized Institute for Engineering Industries in the former Ministry of Industry and Minerals, according to international arrest warrants and the convict’s recovery file that was organized by the recovery department in The Integrity Commission, in cooperation with the competent courts,”

noting that “the recovery file was organized and sent to the Supreme Judicial Council – the Recovery Division in the Presidency of the Public Prosecution; For the purpose of sending it to the competent authorities in Lebanon through diplomatic channels.

She added, “A judgment in absentia has already been issued against the fugitive convict, by the Rusafa Misdemeanor Court, which is specialized in cases of integrity, money laundering, and economic crime; Based on the provisions of Article (331) of the Penal Code; For his participation with other convicts of intentionally violating their job duties through the violations that occurred in the contracts for supplying Karbala governorate with mechanisms through the specialized institute.

Integrity explained, “The violations consisted of non-compliance with the internal system when concluding supply contracts, and the failure to endorse the higher authorities in the Ministry of Industry and Minerals, in addition to signing the contract without announcing the tender, and the customs exemption for those mechanisms that were equipped by a private company.”

It praised the efforts of the competent authorities in the Lebanese Republic, which showed their cooperation with the Iraqi authorities in arresting the fugitive convict.  https://nnciraq.com/205413/

Central Bank: Iraqi Banks Are Insured With (9) Measures To Prevent Breaches

Sunday 14, May 2023 19:43 | Economical Number of readings: 78   Baghdad / NINA / - Today, Sunday, the Central Bank of Iraq confirmed the implementation of 9 measures that secured the Iraqi bank and banks from hacking and piracy.

The central bank told the official agency, "The central bank and Iraqi banks are fully insured and immune from piracy, thanks to the adoption of modern protection systems."

He added, "Secondly, insurance includes modernizing and developing infrastructure and payment systems with the latest versions, thirdly, relying on solid international standards and the latest versions, fourthly, educating users, fifthly directing all participants from banks and payment companies to acquire robust protection programs, and sixthly, adopting international standards and applying them to their systems."

Seventh, he continued, "the insurance operations also included the preparation and training of cadres to face any breach, in addition to the presence of a disaster recovery center in the event of any defect, and to ensure the continuation of the service without impact."

At an eighth point, he pointed to "the existence of more than one test environment for the purpose of testing any idea or update before converting it to a live environment, and finally adopting the sand box application, which is testing any idea or project on a specific real environment to address any defect or negative impact before applying it to The real environment./ End 8  https://ninanews.com/Website/News/Details?key=1053355

Al-Nusairi: The Fluctuation Of The Exchange Rate In The Parallel Market Is "Temporary" And Will Decrease Soon

Market   Economy News – Baghdad  Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the current rise in the dollar exchange rate in the parallel market is "temporary" due to speculators and other reasons, most notably the non-entry of some retailers to the electronic platform for external transfer and the non-compliance of some banking companies with the official rate set by the Central Bank.

Al-Nusairi added, in a televised interview, that "the Central Bank follows up and monitors in cooperation with the concerned government agencies, and will issue severe penalties in accordance with the law for anyone who proves to be harmful to the national economy and insists on dealing with the parallel price in any way."

He explained, "The Central Bank is working to diagnose and study the causes and obstacles to entering the electronic platform and trying to make possible facilities and flexibility for the purpose of accelerating external transfers in banks, in the Central Bank, and in international banking agencies related to ensuring that foreign currencies reach the real and final beneficiary."

Al-Nusairi urged all government agencies, wholesalers and businessmen to "deal locally with the Iraqi dinar as it is strong and recovers its purchasing power, in addition to that it represents an essential pillar of national sovereignty."

Al-Nusairi concluded his speech by saying, "The Central Bank constantly announces the possibility of securing the dollar in the required quantities for everyone who needs it at the official price of 1320 dinars per 100 dollars through the only way, which is the electronic platform of the Central Bank."

Views 171   Added 05/14/2023 - 10:50 AM  https://economy-news.net/content.php?id=34186

The Sudanese Consultant Explains The Most Prominent Projects Of The Iraq Fund For Development Initiative

Money  and business  Economy News – Baghdad   The Prime Minister's Advisor for Investment Affairs, Muhammad al-Najjar, explained, on Sunday, the projects included in the Iraq Fund for Internal Development.

"The projects included in the initiative include projects with a social return, small service projects, and profitable projects, in addition to the Digital Transformation Fund, the Agriculture and Industry Fund, and others," al-Najjar said in a statement to the Parliament's media on the sidelines of hosting him from the Finance Committee.

He added, "The fund aims to involve the private sector in supporting Iraq's reconstruction and development efforts, restoring balance to activate investment in the country, and working to finance development and construction projects.

The fund manages these funds and implements approved projects to rebuild the country's infrastructure, and improve health and education services." strengthening the economy and developing agricultural and industrial industries. Views 144   Added 05/14/2023 - https://economy-news.net/content.php?id=34197

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Awake-in-3D: The results are in for the first week of sales for the Golden ZIM Digital Token

Awake-in-3D

The results are in for the first week of sales for the Golden ZIM Digital Token

HEY IRAQ!!!
Are you seeing this??

The Reserve Bank of Zimbabwe (RZB) sold nearly all of the 140kg of gold used to back the first-round auction of the ZIM digital token. A total of ZWD 139.6 million ($11.8 million USD) in the RZB Gold Token were sold last week.

Private Citizens were able to invest in the Digital Tokens for as little as $10 USD while businesses were held to a $5,000 USD minimum transaction amount.

Gold-backed digital tokens allow gold to be purchased in small fractional amounts and eventually making it usable for every-day purchases.

Why?

Because it’s very difficult to bring physical gold coin (currently values over $2,000 USD) to a grocery store and buy only $100 of goods.

Perhaps Zimbabwe is now showing the way for utilizing gold to stabilize hyper-inflationary local currencies against a predatory US Dollar in their local markets.

So far so good!

I expect individual US States (like Texas and others) to eventually offer gold-backed digital tokens as an alternative to the FED’s malevolent CBDC US Dollar tokens.

@GCR_RealTimeNews

https://t.me/GCR_RealTimeNews/292GCR Real-Time News, [May 14, 2023 at 12:29]

Many Blessings,

 Ai3D

Goldilocks " A Tidal Wave Is Coming" Sunday 5-14-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks posted comments and links:

We are entering into the final phase of integration into the Quantum Financial System.

"It is the foundation of all quantum physics including quantum chemistry, quantum field theory, quantum technology, and quantum information science." Wikipedia

This is the connectivity interface sequences into the QFS we have been waiting to see take place.

What does this mean?

We are about to experience an event (most likely a technical one stemming from the replacing of one computer system to another) that will cause the markets to crash.

Look for artificial intelligence to take over our movements forward in the markets.

At that time, digital regulations and a great transfer of wealth will take place.

© Goldilocks

https://en.m.wikipedia.org/wiki/Quantum_computing

~~~~~~~~~~

Consumer sentiment is moving towards gold. This is about 70% of the market. 

Consumers are beginning to show more interest in Gold assets and Gold itself than ever before. 

We are experiencing the beginning stages of mass adoptions into the new digital economy backed by the asset of gold. 

A tidal wave is coming.

© Goldilocks

https://www.kitco.com/news/2023-05-12/Gold-market-attracting-a-safe-haven-bid-as-University-of-Michigan-consumer-sentiment-falls-to-57-7.html

~~~~~~~~~~

The Iraqi parliament votes on the largest financial budget in the country’s history

https://search4dinar.wordpress.com/2023/05/14/the-iraqi-parliament-votes-on-the-largest-financial-budget-in-the-countrys-history/

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Sunday Morning Iraq Economic News Highlights 5-14-23

Sunday Morning Iraq Economic News Highlights 5-14-23

Vian Sabri To / Nina /: The Budget Problems Have Been Resolved .. And Approval Will Take Place Soon

Sunday 14 May 2023 13:00 | Economical Number of readings: 64  Baghdad / NINA / - The head of the Kurdistan Democratic Party parliamentary bloc, Vian Sabri, confirmed: Parliament will approve the federal budget soon.

She told the National Iraqi News Agency / NINA /: The budget will be approved during the current month, especially since the political forces in the State Administration Alliance stressed the importance of passing it during this month.

Sabri added: All problems of the federal budget have been resolved in general..and the approval will be according to what was agreed upon.

And Deputy Speaker of Parliament Shakhwan Abdullah confirmed today in a statement: The Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024 and 2025, and a vote on the federal budget law will take place this week.

Abdullah added: The House of Representatives will hold a special session to approve and approve the general budget law, because it is an important law and citizens in all governorates of Iraq are waiting for it./ End 3 To receive more news, subscribe to

https://ninanews-com.translate.goog/Website/News/Details?key=1053275&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The Iraqi Parliament Will Hold A "Special" Session To Vote On The Budget This Week

2023-05-14 Shafaq News/ Deputy Speaker of Parliament, Shakhwan Abdullah announced, on Sunday, that the parliament will hold a special session this week to vote on the general federal budget bill.

Abdullah said in a statement received by Shafaq News agency, "The Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024 and 2025, and the vote on the federal budget law will take place this week."

He explained, "The House of Representatives will hold a special session to approve and approve the general budget, because it is an important law and citizens in all governorates of Iraq are waiting for it." LINK

The Central Bank Governor Comments On The Recent Rise In The Dollar Exchange Rate

Economy News – Baghdad   The Governor of the Central Bank, Ali Al-Alaq, affirmed, on Saturday, the follow-up of the exchange rate situation and the development of appropriate solutions to any problems, and while he referred to the implementation of purchase requests from merchants and citizens as a whole, he pointed out that those who refrain from buying from official platforms may have problems and illegal dealings.

Al-Alaq said in a statement to the Iraqi News Agency that "the central bank has a daily follow-up of the dollar exchange rate to find out all the factors related to the exchange rate and any influences on the price."

He added, "The Central Bank is trying to find solutions to it and the appropriate channels, and we are walking close to the market to identify the problems that occur in order to set the price in its official direction."

He explained that "the Central Bank implements the purchase requirements and the needs of all citizens from the dollar, and each price remains outside the official price, either for speculation or for illegal actions."

He pointed out, "Whoever goes to buy the dollar from the black market at a price higher than the official one, despite the availability of the official one through the approved platforms, there may be problems in the transactions that he performs." Views 1126  05/13/2023 - https://economy-news.net/content.php?id=34180

Continuous Rise In Dollar Prices In Stock Exchanges And Exchanges In Baghdad

Economy  |Baghdad today – Baghdad   Today, Sunday, the exchange rates of the dollar against the dinar recorded an increase in the main stock exchange and local markets in the capital, Baghdad.

The (Baghdad Today) correspondent said, "The exchange rate of the dollar for today, on the stock exchange, reached 146,500 Iraqi dinars for every 100 dollars."

He added, "The selling price amounted to 147,500 dinars per 100 dollars, and the purchase price amounted to 145,500 dinars per 100 dollars in local exchange offices."   LINK

Agreement To Include Petrodollar Amounts For All Governorates Within The Budget

Information/Baghdad..    A member of the Parliamentary Oil and Gas Committee, Ali Al-Lami, announced, on Sunday, the agreement to include the payment of petrodollar dues to oil-producing governorates for all governorates.

Al-Lami said in an interview with Al-Maalouma agency, "It is the right of the oil-producing governorates to claim the petrodollar sums and obtain them as compensation for the incurred damages."

He added that "there is an agreement to collect the former petrodollar funds owed by the federal government and current funds and include them in the budget."

And he stressed the need to "develop the final formulas of the proposed paragraphs to ensure the payment of the dues of the oil-producing governorates, especially the central and southern governorates of petrodollars, and to increase the allocation of the necessary sums," noting that "the budget includes paying the dues of the oil-producing governorates from the previous and current petrodollars."

 The Deputy Speaker of the House of Representatives, Shakhwan Abdullah, had confirmed the parliament's intention to vote on the federal budget law this week.

Abdullah said, in a statement received (information), that "the Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024, and 2025." LINK

To Discuss Budget Allocations.. Parliamentary Finance Hosts 3 Ministers Today

Policy   2023-05-14 | 306 views  Alsumaria News – Politics  The Parliamentary Finance Committee will host today, Sunday, three ministers to discuss the requirements and obligations of the appropriations file in the budget.

The head of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement received by  Alsumaria News  Today, the Ministers of Electricity, Health and Defense will be hosted to discuss the requirements and commitments of their ministries and to review the file of allocations for each ministry in the budget and its development plans.

Today, Sunday, the Presidency of the House of Representatives set the date for voting on the 2023 budget law, while indicating that it will be decided during the current week.

Deputy Speaker of Parliament Chakhwan said in a statement received by  Alsumaria News The Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024 and 2025.

He added, "The federal budget law will be voted on this week, and the House of Representatives will hold a special session to approve and approve the general budget, because it is an important law and citizens in all governorates of Iraq are waiting for it."

And the Finance Committee announced, yesterday, Saturday, the completion of the discussion of the items of the general budget 2023.

And the Media Department of the House of Representatives stated in a statement received by  Alsumaria  The Finance Committee, headed by Atwan Al-Atwani, continued its meetings through the sub-committees for reading the items and following up the schedules, in preparation for submitting them to vote, as the committee stressed the need to follow up on the exchange authorities after approving the budget in accordance with the legal frameworks, to come out with a result that meets the aspirations of the Iraqi people, as it directly affects the lives of citizens. ".

The statement added, "The Special Committee for the Study of the Items completed reading the legal texts contained in the budget and presenting visions and ideas in order to maximize the revenues of the state's public treasury, in addition to discussing the allocations of the Vehicle Fees Law for the maintenance of roads and bridges, the distribution of amounts according to spending agencies, and the estimation of revenues, stressing the importance of the approach." Towards supporting the private sector and encouraging national industries to employ the labor force and eliminate unemployment through setting legal paragraphs and texts that support the national product within the budget.

He pointed out, "The committee checked the listed tables to study the amounts allocated for service and commodity supplies, special programs, electricity and water fees, and gas imports, as well as allocations for the school feeding program, and discussed them scientifically and expressed views to ensure that they reached their places, and hosted those concerned in this regard." .

The committee affirmed, according to the statement, "its keenness to adhere to the accuracy of making transfers between spending units, and transferring financial amounts as needed, with knowledge of all exchange chapters contained within the schedules of the Federal General Budget Law, and an emphasis on increasing the allocations of poor governorates for the implementation of service projects."  LINK

Al-Nusairi: The Fluctuation Of The Exchange Rate In The Parallel Market Is "Temporary" And Will Decrease Soon

Market   Economy News – Baghdad   Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the current rise in the dollar exchange rate in the parallel market is "temporary" due to speculators and other reasons, most notably the non-entry of some retailers to the electronic platform for external transfer and the non-compliance of some banking companies with the official rate set by the Central Bank.

Al-Nusairi added, in a televised interview, that "the Central Bank follows up and monitors in cooperation with the concerned government agencies, and will issue severe penalties in accordance with the law for anyone who proves to be harmful to the national economy and insists on dealing with the parallel price in any way."

He explained, "The Central Bank is working to diagnose and study the causes and obstacles to entering the electronic platform and trying to make possible facilities and flexibility for the purpose of accelerating external transfers in banks, in the Central Bank, and in international banking agencies related to ensuring that foreign currencies reach the real and final beneficiary."

Al-Nusairi urged all government agencies, wholesalers and businessmen to "deal locally with the Iraqi dinar as it is strong and recovers its purchasing power, in addition to that it represents an essential pillar of national sovereignty."

Al-Nusairi concluded his speech by saying, "The Central Bank constantly announces the possibility of securing the dollar in the required quantities for everyone who needs it at the official price of 1320 dinars per 100 dollars through the only way, which is the electronic platform of the Central Bank."

Views 92  Added 05/14/2023 - https://economy-news.net/content.php?id=34186