Iraqi News Highlights Friday Afternoon 6-16-23

Iraqi News Highlights Friday Afternoon 6-16-23

Tlm724 Administrator Bondlady’s Corner

Parliament Hands Over The Budget To The Presidency Of The Republic In Preparation For Its Approval

political | 06:38 - 06/16/2023   Baghdad - Mawazine News  Today, Friday, the General Secretariat of the Parliament handed over the budget law to the Presidency of the Republic, in preparation for its approval.  The Parliament's Media Department said in a statement, a copy of which was received by Mawazine News, that "Secretary General of the House of Representatives Safwan Bashir Yunis handed Kamel al-Dulaimi, Chief of the Office of the Presidency of the Republic, Kamel al-Dulaimi, the federal general budget law for the purpose of its approval by the President of the Republic, Abdul Latif Rashid."

https://www.mawazin.net/Details.aspx?jimare=229408

Al-Sudani's Advisor Identifies Two Directions For Achieving Tax Reform In Iraq

Economy | 01:31 - 06/16/2023  Baghdad - Mawazine News,  Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, stressed today, Friday, the importance of updating non-oil revenue maps, while identifying two directions to achieve tax reform.

Saleh said, "Public finance in our country is in dire need to update non-oil revenue maps, especially from revenue streams belonging to taxpayers whose collection has been completely neglected and without burdening citizens with limited or low incomes in the event that they are widely adopted."

He added, "The subsidy equation in the general budget, which exceeds 13% of Iraq's gross domestic product, and which is ensured by government spending from oil revenues, mostly touches the needs of the poor and the rich on an equal footing without discrimination. It requires an equation of non-oil revenues in return that is very fair and comprehensive.

Non-oil revenues (which are still very low, estimated at about 4 to 5 percent of GDP) come into contact with the evaded revenue pools, which are called (gray-colored) vessels, and they evade, as we mentioned, from paying their financial obligations regarding the state's tasks and tax requirements.

And he continued, "We mean here the activity of mysterious gray-colored individuals, which constitutes 60% to 65% of the total activity of the private sector or the market sector in our country today.

The problems of the rentier economy in our country have generated a culture of ignoring the few or meager revenues, while the world's public finances consist of mountains of resources from the accumulation of scattered financial grains of sand, which are collected from few but widespread and numerous tax and revenue vessels, and at the same time achieve the goals of public budgets in their countries.”

Salih pointed out that "tax reform, on the other hand, has also become an obligatory task inherent in providing financial discipline in Iraq and in two directions, the first:Adopting soft lump-sum taxes on income segments with their various denominations and according to easy collection methods that encourage immediate payment and enhance tax revenue in a transparent manner.

To choose and apply the simplest technical means and the most capable of reaching the taxable bases, which makes the tax or other revenue revenues of fees and service charges and others relative to the gross domestic product at least equal to the subsidy rate in the federal budget itself, and adopting that as a financial goal that should be pursued within the government program,

And that the taxes and fees are wide and comprehensive and imposed fairly without burdens on the shoulders of the taxpayers (mostly), but rather encourage them voluntarily to contribute nationally to supporting public finances in our country, because of the ease and flexibility of collecting their amounts and with high financial governance.   https://www.mawazin.net/Details.aspx?jimare=229383

A Slight Decline In Global Oil Prices

Friday 16, June 2023 09:17 | Economical Number of readings: 431  Baghdad / NINA / - Oil prices fell slightly during trading today, Friday, amid expectations of more monetary easing in China and despite concerns about further monetary tightening in the United States and Europe.

UBS expects, in a note, a supply deficit in the market of about 1.5 million barrels per day in June, and more than two million barrels per day in July, and that as soon as that deficit appears in oil stocks, prices may tend to rise.

Data released yesterday showed that the productivity of oil refineries in China increased by 15.4% in May on an annual basis, recording the second highest total level ever.

Brent crude futures for August delivery fell 0.25%, or 19 cents, at $75.48 a barrel, at 08:02 am Mecca time.

US crude futures for July delivery also fell 0.2% to $70.48 a barrel, after rising by about 3.4% in the previous session./End 8    https://ninanews.com/Website/News/Details?key=1059926

Sudanese Consultant Explains Two Mechanisms For Tax Reform

    June 14 21:13  Information / Baghdad...  The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Wednesday, that

the percentage of non-oil revenues from the gross product reaches 5 percent, and while specifying the percentage of activity of individuals in the private sector related to public finances, he identified two mechanisms for conducting tax reform.

Saleh said to the official agency and his follower, Al-Malooma, that

"the Iraqi financial sector today needs to update the maps of non-oil revenues, especially from revenue vessels belonging to taxpayers who have completely neglected collecting from them, without at the same time burdening citizens with limited or low incomes." 

He added,  "The government support equation in the general budget today exceeds 13 percent of Iraq's gross domestic product, which is guaranteed by government spending from oil revenues mostly, and it  touches the needs of the poor and the rich on an equal footing without discrimination, requiring a very fair and comprehensive non-oil revenue equation." 

And he continued, "The proportion of non-oil revenues (which is still very low and is estimated at 4-5 percent of GDP)."

Regarding the money of individuals and the extent of their contribution to the market activity, Saleh explained,

“There is what is known as voluntary vessels, which are called (gray-colored) containers, which evade paying their financial obligations regarding the state’s tasks and tax requirements.

It is the activity of mysterious gray-colored individuals, which constitutes 60-65 percent. Of the total activity of the private sector or the market sector in Iraq today, which are evaded or neglected vessels that are subject to taxes, but are not known before the collection agencies in the public finances.  He stated,

"The problems of the rentier economy in our country have generated a culture of ignoring the few or meager revenues collected, while the world's public finances consist of the accumulation of scattered financial grains of sand, which are collected from few but widespread and numerous tax and revenue vessels, and at the same time achieve goals." public budgets in their countries. 

And he indicated that  "tax reform has also become important and inherent in providing financial discipline in Iraq and in two directions: the

first: the adoption of soft flat taxes on income segments of various denominations according to easy collection methods that

encourage immediate payment and

enhance tax revenue in a transparent manner, and the

second: the use of electronic payment and collection methods for accounting taxpayer in an easy way, provided that each taxpayer carries one tax number. 

And he stressed, “This requires cooperation with international financial institutions to choose and apply the simplest technical means and the most capable of reaching the taxable bases, which makes tax or other revenue revenues, such as fees and service wages, and others, relative to the gross domestic product, equal at least to the support rate in the federal budget.”,

as a financial goal that should be pursued within the government program," pointing out, "taxes and fees are broad and comprehensive and imposed fairly without burdens on taxpayers, and encourage them voluntarily to contribute nationally to supporting public finances in our country." ended 25 n

https://almaalomah.me/news/economy/مستشار-السوداني-يوضح-آليتين-لاجراء-الإصلاح-الضريبي

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

https://www.bondladyscorner.com/

Awake-In-3D: The End of Global Fiat Currencies: China’s Belt and Road Initiative and the BRICS Alliance Sets the Stage for Our GCR

Awake-In-3D:

The End of Global Fiat Currencies: China’s Belt and Road Initiative and the BRICS Alliance Sets the Stage for Our GCR

On June 16, 2023 By Awake-In-3D

The rapid advancement of China’s Belt and Road Initiative and the BRICS Alliance’s plans to create a new gold-backed currency sets the stage for Our Global Currency Reset, bringing an end to the reign of global fiat currencies when the current financial system collapses.

As the world becomes increasingly interconnected, the West is threatened by the success of the BRI and is responding with a proxy war against Russia and a rival infrastructure investment partnership. China and the BRICS Alliance are committed to cooperation, sustainable security, and a new global financial system that is fair, equitable, and gold-backed. In this article, I outline how this new era of global economic power dynamics will unfold and what it means for the future of the world economy.

The BRI and EAEU Integration

China’s President Xi Jinping and Russia’s President Vladimir Putin have fully integrated their strategy at the level of Belt and Road Initiative (BRI) and Eurasian Economic Union (EAEU) interaction. They aim to boost connectivity with Afghanistan, Pakistan, and Iran and prevent foreign interference and color revolution attempts that could disturb BRI. Putin emphasized working with China to “link the integration processes” of EAEU and BRI, thus “implementing the large-scale idea of building a large-scale Eurasian partnership.”

The G7’s Response

The West, on the other hand, is using the new Western mantra of “de-risking” to contain China. They have committed to raising $600 billion for a Global Infrastructure Investment Partnership to rival BRI. However, no serious Global South player thinks they are being “coerced” to join BRI. In fact, the G7’s efforts have been deemed a thinly disguised exercise about “containing” China.

China’s New Security Initiative

At the recent Shangri-La dialogue platform in Singapore, State Councilor and Defense Minister General Li Shangfu explained China’s “New Security Initiative”. He stressed the concept of “common, comprehensive, cooperative, and sustainable security” and dismissed the “so-called ‘Indo-Pacific strategy’” as a tawdry Hegemon rant. Li made it clear that Taiwan is China’s Taiwan, and how to solve the Taiwan question is the Chinese people’s business.

China vs. The West

As China’s BRI gains momentum and its alternative development model gains popularity in the Global South, the West is becoming increasingly threatened. The US/NATO proxy war against Russia in Ukraine is seen as a move to interrupt BRI’s progress and halt its potential success. Meanwhile, China is committed to working with all parties to strengthen the awareness of an “Asia-Pacific community with a shared future,” emphasizing the importance of cooperation and sustainable security.

What it all Means

As China’s Belt and Road Initiative gains momentum and its alternative development model gains popularity in the Global South, it is also coupled with the BRICS Alliance growth and plans to create a new gold-backed currency.

This is the blueprint and sets the stage for Our Global Currency Reset, bringing an end to the reign of global fiat currencies when the current financial system collapses.

 While the West is threatened by the BRI’s success and is responding with a proxy war against Russia and a rival infrastructure investment partnership, China and the BRICS Alliance are committed to cooperation, sustainable security, and a new global financial system that is fair, equitable, and gold-backed. It remains to be seen which model will prevail, but the stage is set for a new era of global economic power dynamics.

GCR Real-Time News

https://ai3d.blog/the-end-of-global-fiat-currencies-chinas-belt-and-road-initiative-and-the-brics-alliance-sets-the-stage-for-our-gcr/

Goldilocks "Everything Has Been Reset On Paper" Friday 6-16-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links to help us understand what is going on in the global financial sector:

In 2021, Franklin Templeton utilized a public blockchain to record mutual fund transmissions. Franklin Templeton is a global investment firm founded in New York City in 1947 known as Franklin Distributors, Inc.

They are now working with the SEC in utilizing new features to include other assets with greater speed and efficiency on the blockchain network.

Going forward, Franklin Templeton has unlocked the ability to use stablecoins and other forms of payment to fulfill their International Payments.

© Goldilocks

A stablecoin with yield? Tokenized fund perhaps just the start for fund giant https://www.blockworks.co/news/stablecoin-with-yield-franklin-templeton via @Blockworks_

"JPMorgan Says Stocks to Suffer $150 Billion Rebalancing Sales"

Since the beginning of the year, the stock market has been overvalued in terms of the new tightening measures and liquidity risks involved in these assessments.

It is important to be ever-watchful for an imminent transition into real values going into the second half of this year.

© Goldilocks

https://finance.yahoo.com/news/jpmorgan-says-stocks-suffer-150-161230891.html

~~~~~~~~~~

These last 3 months have set the stage for a market and currency transition.

Everything has been reset on paper. Now, it is time to execute these changes and let the chips fall where they may.

When we transition from Libor to SOFR on June 30th, this is when we will see many companies rise and fall. Prices on assets will find their new values as we progress.

In the end, we will have a Sound Money economy.

© Goldilocks

https://www.law360.com/articles/1686779/economic-issues-to-watch-in-the-libor-transition

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Friday Morning 6-16-2023

TNT:

Tishwash:  Parliamentary Finance announces the arrival of the budget law to the Presidency of the Republic

Today, Friday, the Parliamentary Finance Committee announced the arrival of the budget law to the Presidency of the Republic.

The head of the Parliamentary Finance Committee, Eng. Atwan Al-Atwani, said in an interview with Al-Iraqiya News Channel, which was followed by "Al-Eqtisad News", that "the budget has been audited by the Legislation Department, renumbered by the Finance Committee, and sent to the Presidency of the Council," pointing out that "the Presidency of Parliament sent the budget law in its final version to Presidency" .

He pointed out that "the budget in its new version included 78 articles, and that all the original, amended and new paragraphs and materials that were read in the voting sessions on the budget became in the budget  link

Tishwash:  Legal expert: The arrival of the budget to the Presidency of the Republic is considered approved, even if the President does not approve it

The legal expert, Counselor Salem Hawas, confirmed that the budget's arrival to the President of the Republic, after fifteen days have passed, is considered approved, even if the President did not approve it.

The legal expert said in a statement, "It is true that the President of the Republic has the constitutional right to ratify death sentences or not, as it is a discretionary authority for him, and his lack of ratification according to Article 73 of the Constitution has no power. However, this text differs in other clauses in the president's powers over laws and legislations. Including the budget law, which has an important impact.

Hawass added, "The president has a discretionary power in judgments because it is not obligatory for him and is not obligatory for him to ratify during a certain period, while the same article made the president's approval of laws, including the budget legislated by parliament, permissive, and therefore laws are considered effective with the passage of the fifteen constitutional period." a day.

And he continued, "The constitution counted the laws that were not ratified by the President of the Republic, as soon as the specified period lapsed, based on the provisions of Article 73 / Third of the Constitution, which stipulates that the laws enacted by the House of Representatives shall be ratified and promulgated, and they shall be considered ratified after fifteen days have passed from the date of their receipt.  link

************

CandyKisses:  :  Kurdish parliamentarian: June is the last month in which the region's salaries are delayed

Baghdad Today - Baghdad

Sabah Hassan, a former member of the Finance Committee in the Kurdistan Regional Parliament, confirmed that this is the last month in which the process of paying the salaries of the region's employees is delayed.

Hassan told Baghdad Today: "June is the last month in which there is a problem in the process of distributing the salaries of employees in the region, after the approval of the budget and the sending of Kurdistan's share by Baghdad."

"If the federal government commits to sending the monthly quota to the region on a regular basis, there will be no problem with the process of paying employees' salaries," he said.

It is noteworthy that for years, employees in the Kurdistan region have been suffering from delayed salaries for more than 45 days, due to the financial crisis and the lack of agreement with the federal government.

************

CandyKisses:  The euro is at the highest levels against the dollar and the yen

The euro recorded its highest level in 15 years against the yen and the highest level in four weeks against the dollar, after the European Central Bank raised interest rates and signaled further tightening with the aim of reducing inflation in the euro area to the medium-term target level of two percent.

The ECB raised interest rates by 25 basis points, in line with expectations, in the eighth consecutive increase to 3.5 percent, the highest level in 22 years.

In mid-morning trading in the United States, the euro rose 0.5 percent to $1.0887 after earlier touching a four-week high of $1.0894.

Against the yen, the euro rose 0.8 percent to 152.97 yen after hitting 153.39 yen, its highest since September 2008, following the ECB decision.

The dollar index, which measures the greenback's performance against a basket of other major currencies, fell 0.2 percent in its latest trade to 102.76.

The ECB's move came the day after the Federal Reserve fixed interest rates and signaled a possible rate hike again this year.

The dollar index, which measures the greenback's performance against a basket of other major currencies, fell 0.2 percent in its latest trade to 102.76.

The dollar briefly pared losses after data showed U.S. retail sales unexpectedly rose in May, rising 0.3 percent last month after rising 0.4 percent in April. Economists polled by Reuters had expected sales to fall 0.1 percent.

Mot:  .. Bears are OUt - Be Aware!!!

Mot:  .. Guys - Beeee Aware!!! -- the Warning Signs are OUT!!! ~~~~

Friday Morning Iraq Economic News Highlights 6-16-23

Friday Morning Iraq Economic News Highlights 6-16-23

The Parliamentary Finance Committee Announces The Arrival Of The Federal Budget Law To The Presidency Of The Republic

Iraq  10:28 - 2023-06-16  Today, Friday, the Parliamentary Finance Committee announced the arrival of the budget law to the Presidency of the Republic.  The head of the committee, Representative Atwan Al-Atwani, said in a statement: "The budget law reached the Presidency of the Republic for approval."

Last Monday, the House of Representatives voted on the general budget law.

https://kirkuktv.net/AR/Details/15839

What If The President Of The Republic Does Not Approve The Budget? .. And What Is The Issue Of The 15 Days?

Economy / Localities |Baghdad today – Baghdad  Today, Friday, legal expert Salem Hawass clarified the mechanism for approving the federal budget in the event that the President of the Republic does not sign it.

Al-Hawas told (Baghdad Today) that "the arrival of the budget to the President of the Republic and the lapse of fifteen days on it is considered approved even if the President does not approve it."

The legal expert added, "It is true that the President of the Republic has the constitutional right to ratify death sentences or not, as it is a discretionary authority for him, and there is no effect on his non-ratification in accordance with Article 73 of the Constitution," noting that "this text differs in other clauses in the president's powers over laws and legislations." Including the budget law, which has an important impact.

 And Hawass indicated that "the president has a discretionary power in rulings because it is not obligatory for him and is not obligatory for him to ratify it during a certain period, while the same article made the president's approval of laws, including the budget legislated by parliament, permissive, and therefore laws are considered effective after the fifteen days of the constitutional period."

And he continued, “The constitution considers the laws that the President of the Republic did not ratify as approved, even if he did not ratify them once the specified period has passed, based on the provisions of Article 73 / Third of the constitution, which stipulates that the laws enacted by the House of Representatives must be ratified and issued, and they are considered approved after fifteen years have passed.” days from the date of its receipt.

 Earlier, the Parliamentary Finance Committee announced that the budget law had reached the Presidency of the Republic.

The head of the committee, Representative Atwan Al-Atwani, said in a statement received by (Baghdad Today) that "the budget law has reached the Presidency of the Republic for approval."

The House of Representatives had voted on the general budget law last Monday.  LINK

Stability Of The Exchange Rates Of The Dollar Against The Dinar For Today

2023-06-16    Today, Friday, the exchange rates of the dollar recorded stability in the local markets in the capital, Baghdad.   Al-Mutala' correspondent said, "The Al-Harithiya and Al-Kifah stock exchanges are closed today for buying and selling."

Our correspondent added: "While the selling price in exchange offices reached 148,500 dinars per 100 dollars, and the purchase price amounted to 146,500 dinars per 100 dollars."   LINK

Dollar Exchange Rates In The Local Markets For Today

Economy  |Baghdad today – Baghdad  Today, Friday, the exchange rates of the dollar recorded stability in the local markets in the capital, Baghdad.

The (Baghdad Today) correspondent said, "The Al-Harithiya and Al-Kifah stock exchanges are closed today for buying and selling."

He added, "While the selling price in exchange offices reached 148,500 dinars per 100 dollars, and the purchase price amounted to 146,500 dinars per 100 dollars."  LINK

Integrity: We are working to combat corruption and Iraq is in the process of transitioning to e-gove Integrity: We are working to combat corruption and Iraq is in the process of transitioning to e-governance   LINK

Al-Sudani's Office Reveals The Details Of The Joint Declaration Of Intent And The Agreements Concluded Between Iraq And Qatar

2023-06-15   The Office of the Prime Minister, Mohamed Shiaa Al-Sudani, announced, this evening, Thursday, the details of the joint declaration of intent and the agreements concluded with Qatar.

The office stated in a statement that Al-Sudani and the Emir of the State of Qatar, Tamim bin Hamad Al-Thani, sponsored the signing ceremony of a joint declaration of intent between the governments of Iraq and Qatar, for comprehensive cooperation in the political, economic, energy and investment fields, as well as the signing of two agreements in the fields of air and maritime transport, and a memorandum of understanding regarding Cancellation of visa requirements for holders of diplomatic passports.

On the sidelines of the Qatari visit, a number of memorandums of cooperation in the field of energy were also signed, pertaining to crude oil and supplying Iraq with liquefied gas, a memorandum of cooperation to establish a joint oil company and another to establish a refinery.

In the field of investment, four memorandums of cooperation were signed for the National Investment Authority, the first with the Qatari “Urbacon” Holding Company, the second with the Qatari “Elegancia Health Care” company, and two memorandums of cooperation with the Qatari “Istithmar” Holding Company in the field of developing new cities and building and hotel development.

Today, Thursday, the Emir of Qatar, Tamim bin Hamad Al Thani, arrived in the Iraqi capital, Baghdad, on an official visit, during which he will meet the three Iraqi presidencies, in addition to a number of Iraqi political leaders, indicating that he will discuss in Baghdad the file of the commercial and investment sector, security cooperation, and other files.  LINK

Al-Bawi: The Facts Of The Region's Oil Smuggling Require A Serious Stance From The Judicial Authority[/Size]

Information/Baghdad..   Political analyst Hazem Al-Bawi counted, on Friday, what Kurdish political circles revealed about the numbers of Iraqi oil smuggled in Kurdistan since 2007 until now, that it rises to the ranks of a major scandal and requires a pause from the judiciary to hold the negligent accountable.

 Al-Bawi told Al-Maalouma, “The hadith of the former Kurdish deputy and member of the Oil and Energy Committee, Ghaleb Muhammad, about the quantities of oil produced in Kurdistan, which amounted to one billion and 450 million barrels since the aforementioned year , requires a serious stance from the highest judicial authority in Iraq.” 

He added, “The calamity lies in the confession of the Kurdish deputies, the last of whom is the aforementioned figure, that most of the smuggled quantities of oil were sent abroad and were sold for large sums, and that the regional government owed 37 billion dollars in favor of Baghdad, so it is something that cannot go unnoticed.” 

And he indicated that "Baghdad is sending millions or billions of dollars to the region at a time when Kurdish deputies are talking about that Erbil owes the region's employees salaries for a period exceeding a year. It is strange, especially since the employees did not receive Salaries even with the increase in oil prices, which calls for urgent action from above.” authorities to investigate the matter and hold the negligent accountable.” ended 25 n   LINK

Minister Of Oil: We Seek To Use Modern Technology In The Oil Field

2023-06-16  Oil Minister Hayan Abdul-Ghani at the celebration of the anniversary of the founding of OPEC in Baghdad:  We seek to use modern technology in the oil field .

OPEC seeks to achieve oil stability. There is cooperation and coordination between OPEC countries for the sake of common interests . Memorandum announcing the founding of OPEC in Baghdad on the occasion of the 63rd anniversary   LINK

Accompanied By Kurdistan... Oil: A Joint Delegation Will Arrive In Ankara Next Week To Discuss Oil Exports

2023-06-16  The Federal Ministry of Oil confirmed that a delegation affiliated with it, accompanied by a delegation from the Ministry of Natural Resources in the Kurdistan Regional Government, will visit Turkey next week in order to resume oil exports through the Turkish port of Ceyhan.   

"The delegation will go to Turkey, with the aim of discussing the resumption of exporting Kurdistan's oil," said Asim Jihad, a spokesman for the Ministry of Oil, in a statement to the media of the head of the regional government, followed by the insider.

According to the available information, the delegation that will visit Turkey is a technical delegation, and it will conduct decisive negotiations to resume the export of Kurdistan's oil.

 On April 4, Erbil and Baghdad signed an agreement to resume oil exports through the Iraqi Oil Marketing Company (SOMO), in the presence of the federal and regional prime ministers.

The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, announced that the Turkish authorities had been informed of the resumption of export operations from the northern port - the port of Ceyhan.

And the ministry stated in a statement, "The Iraqi Oil Marketing Company, SOMO, informed the Turkish company BOTAS to resume export and loading operations as of Saturday, May 13, 2023," which has not been implemented to this point.

The Minister of Oil indicated that "the conclusion of contracts with international companies for the sale and marketing of crude oil from the Turkish port of Ceyhan has been completed, according to the mechanisms adopted by the Iraqi Oil Marketing Company SOMO."

 Turkey stopped Iraq's exports of 450,000 barrels per day through the oil pipeline that extends from the Kurdistan region in northern Iraq to the Turkish port of Ceyhan on March 25.

Reuters calculations indicate that the 80-day stoppage has cost the Kurdistan Regional Government more than two billion dollars.

Turkey's decision to suspend exports followed an arbitration decision by the International Chamber of Commerce that ordered Turkey to pay Baghdad $1.5 billion in compensation for damages caused by the Kurdistan Regional Government's export of oil without permission from the government in Baghdad between 2014 and 2018.

Attempts to restart the pipeline were delayed by last month's Turkish presidential election and discussions between the Iraqi government's Oil Marketing Company (SOMO) and the KRG over an export deal that has now been reached.

 Hopes for the resumption of work were boosted when Turkish President Alp Arslan Bayraktar appointed Minister of Energy and Natural Resources on June 3.

Sources told Reuters earlier that among the issues to be resolved was that Turkey seek to negotiate the amount of compensation ordered by the International Chamber of Commerce.

The sources said they also want to permanently resolve outstanding issues in other open arbitration cases before they agree to resume flows.   LINK

Goldilocks "Forex Markets, Exchange Rates and more" 6-15-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good evening Dinar Recaps,

Goldilocks posted news links and comments today:

New protocols are currently being reintroduced in the Forex Markets. Going forward, market forces will determine new exchange rates.

Investors and Exporters on the Forex window are now being determined by buyers and sellers. 

In other words, FX trades going forward are to be made at market-determined exchange rates.

What this means is we are going to a true supply and demand currency market determination on goods and services based on the real values.

SOFR practices will guide these new protocols with new rules and regulations. This will usher in a collateralized economy known as a gold standard in trade. 

These changes are taking place as we speak and have to be in place by June 30th when we transition from Libor to SOFR.

As I have been sharing with you for months, WATCH THE WATER.

© Goldilocks

CBN Confirms Changes To FX Market, Forces To Decide Exchange Rates 

Channels TV LINK 

~~~~~~~~~~

"A free-floating exchange rate occurs when a government allows the exchange rate to be determined purely by market forces and there is no attempt to ask the central bank to influence the external  value of the exchange rate."

https://www.thecable.ng/its-official-cbn-announces-unification-of-all-exchange-rate-windows

~~~~~~~~~~

The new crypto regulations bill is now being prepared for a vote. 

This bill will determine SEC and CFTC jurisdiction over our new digital economy. 

We are moving along very nicely at this point in completing what we need to have done by the end of the month. 

These new guidelines will give us clarity and direction for the future of our new economy.

© Goldilocks

Coinpedia LINK

~~~~~~~~~~

Another portion of our new crypto bill currently in Congress deals with whether or not certain tokens are securities or commodities. 

This will give even further clarity upon the real values on assets these digital tokens represent. 

This bill will provide guidelines, standards, and protocols for our new digital economy.

© Goldilocks

https://cryptodaily.co.uk/2023/06/security-or-commodity-congress-to-vote-on-clarity-for-crypto

~~~~~~~~~~

Follow Goldilocks' Roadmap

Follow Goldilocks' Timeline

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Awake-In-3D The Rise of New Geopolitical Alliances Uniting to Replace Fiat Currencies and Resetting the Global Financial Order

Awake-In-3D

The Rise of New Geopolitical Alliances Uniting to Replace Fiat Currencies and Resetting the Global Financial Order

On  June 15, 2023  By  Awake-In-3D

Setting the stage for Our GCR, a seismic shift is underway in the global financial arena as new geopolitical alliances challenge the dominance of the US Dollar-based monetary system. With China’s expansion in Riyadh and Egypt’s pursuit of BRICS membership, a paradigm shift is on the horizon. Brace yourself for a provocative exploration of how these alliances aim to reset the global financial order, offering an alternative to the US Dollar and reshaping the balance of power in the world economy. The winds of change are blowing, and the implications are profound.

Now is a good time to summarize what’s been happening so far ahead of the upcoming 2023 Annual BRICS Summit in August.

Key Facts

• The Middle East’s sovereign funds are projected to reach $10 trillion by 2030.

• China anticipates receiving between $1 trillion and $2 trillion in investment inflows from the Middle East.

• Egypt joined the BRICS New Development Bank, which could help the country address its economic crisis – shunning the IMF.

• More than a dozen new countries have expressed interest in joining BRICS over the past few months alone.

• BRICS foreign ministers expressed willingness to admit new members, including Saudi Arabia.

• The Bank of China is set to open its first branch in Riyadh, Saudi Arabia by November 2023.

• The Bank of China aims to introduce the Chinese yuan to the world and promote its use in commercial transactions.

• Egypt has officially applied to join the five-member BRICS bloc of emerging economies.

• Egypt is interested in BRICS’ initiative to maximize trade transfers to alternative currencies and potentially create a joint currency.

• Egypt is planning to pay for imports from India, China, and Russia in their local currencies instead of the US dollar.

• Strategically-improtant Middle-eastern nations including Saudi Arabia, the UAE, Algeria, Egypt, Bahrain, and Iran have all formally asked to join BRICS.

• The Hong Kong Stock Exchanges and Clearing Ltd predicts that more than 10 to 20 percent of the Middle East’s sovereign funds will be invested in China.

In a rapidly changing world, new geopolitical alliances are forming as a transformative response to the existing global financial order dominated by the US Dollar-based fiat currency system. These alliances are driven by the goal of offering an alternative, asset-backed monetary system that challenges the hegemony of the US Dollar and resets the global financial and currency system. This article delves into the motivations behind these alliances and explores how they seek to reshape the global financial landscape, offering a more diversified and multipolar approach to global governance.

The Bank of China Expands in Riyadh: An Alternative to the US Dollar

The Bank of China’s decision to open its first branch in Riyadh represents a significant step towards establishing an alternative to the US Dollar-dominated monetary system. By introducing the Chinese yuan as a global currency and promoting its use in commercial transactions, China aims to challenge the US Dollar’s role as the primary global reserve currency. This move encourages other countries to consider diversifying their currency holdings and reduces their dependence on the US Dollar. As China strengthens its economic ties with the Arab world, this alliance poses a substantial challenge to the existing financial order.

Egypt’s Pursuit of BRICS Membership: A Shift in Trade Mechanisms

Egypt’s official application to join BRICS signifies its intention to be part of an alliance that seeks to reset the global financial and currency system. BRICS countries, including Brazil, Russia, India, China, and South Africa, are actively engaged in maximizing trade transfers to alternative currencies and exploring the creation of a joint currency. Egypt’s interest in joining BRICS reflects its desire to reduce its reliance on the US Dollar and seek alternative trade mechanisms that promote financial independence and stability. By diversifying payment mechanisms and forging closer economic ties with BRICS nations, Egypt aims to recalibrate international trade and contribute to reshaping the global financial landscape.

BRICS: Catalyst for a Paradigm Shift in Global Finance

BRICS, with its vision of a more inclusive multilateralism, aims to reset the global financial landscape by challenging the dominance of Western-dominated institutions. The bloc, through its willingness to admit new members, including Saudi Arabia, seeks to rebalance the global order and provide a platform for nations to assert their economic sovereignty. By fostering partnerships and collaboration among member countries, BRICS offers an alternative framework for global governance that accommodates diverse interests and perspectives. The potential expansion of BRICS membership and the interest from nations worldwide signals a paradigm shift in the global financial and currency system.

Economic Implications: Redefining Investment Patterns and Currency Usage

As new alliances emerge, the economic implications reverberate throughout the global financial system. China stands to benefit from the Middle East’s sovereign funds, which are projected to reach $10 trillion by 2030. The redirection of a significant portion of these funds towards investments in China provides an alternative investment avenue and diversifies away from traditional Western markets. Furthermore, Egypt’s plans to trade in local currencies with countries like India, Russia, and China present an opportunity to reduce dependency on the US Dollar and establish a more diversified and robust trade ecosystem. These shifts in investment patterns and currency usage reset the balance of economic power and contribute to the ongoing transformation of the global financial landscape.

Summary

The formation of new geopolitical alliances and the pursuit of alternative monetary systems mark a significant shift in the global financial and currency system. By challenging the US Dollar-dominated fiat currency system, these alliances aim to reset the global financial landscape and promote a more diversified and multipolar approach to global governance. The Bank of China’s expansion in Riyadh, Egypt’s pursuit of BRICS membership, and the growing interest from nations worldwide reflect a desire for financial autonomy and the need to redefine trade mechanisms.

 As these alliances gain momentum and control over essential resources, such as energy and rare earth minerals, they contribute to reshaping the geopolitical dynamics and offer an alternative to the US Dollar-based monetary system. The global financial order is undergoing a transformation, and the rise of these new alliances signifies a resetting of the global financial and currency system towards a more balanced and interconnected future.

Source: GCR Real-Time News

https://ai3d.blog/the-rise-of-new-geopolitical-alliances-uniting-to-replace-fiat-currencies-and-resetting-the-global-financial-order/

Iraqi News Highlights Thursday Afternoon 6-15-23

Iraqi News Highlights Thursday Afternoon 6-15-23

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: Iraq Will Host The "Baghdad Economic Integration Conference" At The End Of 2023

Money  and business  Economy News – Baghdad  Iraq and Qatar signed a "joint declaration of intent" and a number of agreements and memorandums of understanding.

Prime Minister Muhammad Shia al-Sudani said in a press conference he held with the Emir of Qatar, Tamim bin Hamad Al Thani, that "Iraq has oil reserves of 145 billion barrels," noting that he "desires mutual investments with brothers, especially in Qatar."

He added, "We discussed with the Emir of Qatar investment opportunities in construction and reconstruction inside Iraq, and the participation of Qatari companies in infrastructure projects."

He stressed that "there is a serious desire from Qatar to participate in the development project," noting that "we are happy with this Qatari desire."

He pointed out that "the Arab countries and the countries of the region are capable of establishing a successful economic bloc," reiterating the emphasis on "creating an economic bloc between the Arab countries and the region." Views 29  06/15/2023 - https://economy-news.net/content.php?id=34767

Central Bank Sales Of Foreign Currency For Today

Economy | 12:03 - 06/15/2023   Baghdad - Mawazine News  Today, Thursday, the Central Bank of Iraq recorded an increase in the volume of foreign currency sales for the day.

According to the currency sale window schedule that Mawazine News followed, the Central Bank sold during its auction today 227,220,524 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for external transfers, and at a price of 1310 dinars per dollar, respectively. monetary.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $192,980,524 million, while the remaining $34,240,000 million went in the form of cash sales.    https://www.mawazin.net/Details.aspx?jimare=229299

The Rise In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Market

Economy   Thursday, June 15, 2023 Baghdad / The National News Center  The exchange rates of the US dollar against the Iraqi dinar rose today, Thursday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 147,000 dinars, compared to 100 dollars, while the prices this morning were 146,900 dinars.”

He added, "The buying and selling prices rose in the exchange shops in the local markets in Baghdad, where the selling price reached 147,500 dinars, while the purchase prices reached 146,500 dinars for every 100 dollars."    https://nnciraq.com/211243/

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

https://www.bondladyscorner.com/

KTFA Members "News and Views" Thursday 6-15-2023

KTFA:

Turk182:  June 15th 2023 - Here we are "Mid-Month"

Has it been confirmed that the New Currency is ACTIVE in the ATMs as rumored they would be earlier this week?  Can someone share Photos of same if so?

Has the President signed the Budget? is it ready for publication is Saturday's edition of the Gazette?

None of this is adding up?  Iraq has NEVER had a 3-Year Budget Passed thru Parliament in their history.  It took them 6+Months to finally get it thru & passed.  WHY is the President now Slow Walking this thing?  What benefit is there for this delay to "rubber stamping" this thing?

The Iraqi People have waited YEARS for this to happen, yet here we are at the final end, and now it is being stonewalled by lack of final signature?

Turk182 cont……It was mentioned last night on the call, about the next "2-Months"?  Not exactly sure what that was alluding to, but clarification from the source would be helpful.  Two More Months for what?  

Within the next 24-Hours, Iraq is to host a major conference with delegations from all over the World. All with a worthless currency.  

This Budget should have been SIGNED the instant it hit the President's Desk 2-Days ago.  Why is it being slow walked? Why has it not been signed?

OlLar:  There is an article from Jamal Cougar today saying the Budget will be automatically approved within 15 days of the vote, IMO the Rate change will happen right before the end of June, as Shabbibi and Turki both said the first of the year and middle of the year are the best time to change the rate , not the only time , but the best time because of accounting

Clare:  THAT'S THEIR LAW IT IS NOTHING NEW ...WE ALL KNOW THIS ALREADY AND THAT IS ONLY IF NOT SIGNED BY THE PRESIDENT...IT MAY BE SIGNED ALREADY AND NOT PUBLIC IMO... WE SHALL SEE

Zeeman:  question since the first president is away why cannot the second  or third president sign the budget so it goes to the gazzette?  

Turk182:  Excellent Question Brother Zeeman!  IF it's NOT in the Gazette this coming Saturday (06/17/2023) - then don't expect it being published in the Gazette until the Wednesday (06/28/2023) Edition.  Such an Important/Life Changing Budget for the People of Iraq, and ALL the President's decide to take a trip out of the Country at the same time.  Very Strange Timing.

Clare:  PUBLICATIONS CAN COME OUT AT ANY TIME THEY WANT.   HERE IS THE HISTORY OF SOME OF THE PUBLICATIONS.  LOOK AT THE DATE AND DAYS OF WEEK.  THEY ARE ALL DIFFERENT DAYS...   https://moj.gov.iq/view.7201/

************

Clare:  BROUGHT FORWARD.... FROM 6/13 

 A representative source for Al Furat News: Sending the budget to the Presidency of the Republic today

6/13/2023

A representative source revealed the date of sending the tripartite financial budget bill to the Presidency of the Republic.

The source told {Euphrates News} agency that: "The general budget for the year 2023 will be sent to the Presidency of the Republic today for the purpose of approving it within 15 days, after which it will be published in the Official Gazette to be effective."

And the House of Representatives, at dawn yesterday, Monday, approved the draft federal budget law for the fiscal years 2023-2024-2025, after more than 4 days of holding sessions since last Thursday.

The value of the current year’s budget is 197 trillion and 828 billion dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published.

 For his part, Prime Minister Muhammad Shia al-Sudani confirmed, in a statement today, that "the government will work to review the items that have been amended in the budget and study the extent of their conformity with the government's vision and objectives approved in the ministerial curriculum approved by Parliament."

Raghad Daham    LINK

**************

Paulette:  IMO........Rashid is still out of Iraq - Geneva today

The President in the past takes 7-10 days typically so that the budget and the procedure passing it can be extensively reviewed to ensure all is proper

The CBI will want to see Rashid ratify it since he is a Kurd this will be symbolic of Kurdish acceptance.

The PUK is happy, the KDP is not.  However, the KDP cannot do anything about it as Article 15-17 is in accordance with the relatively recent court decisions.  Their biggest victory is that Article 15-17 will not be retroactive to 1/1 absent a future contrary legal opinion ...

The IBBC is an Annual conference.  The Iraq Britain Business Council hosts this in London at The Mansion House.  Alaq is no longer on the speaker list.  Hopefully, it is because he is too busy at home.

ALL is GOOD as of today.  Look at all they have and are putting in place just this year.  I like this window going into July for something to change.   However, stay grounded as we really do not know.  in 2014, family members were excommunicated for suggesting that it may not happen in that January.  Stay grounded!!!  We know they have plans to change their currency and ultimately, they need to RI their currency.  Whether 2 hours, 2 weeks, 2 months........, a change is coming

 I do have concern about the current MCP in Iraq which would be out of compliance with Article 8.  Based on Frank's info, my understanding is it no longer matters as they are well past that.

Eid Al-Ada will be over two weeks from now.........  I recall Shabs saying "....after Eid, before the New Year....".  This timing makes July 4th weekend pretty intriguing.

All IMO........

Clare:  Approval of the economic feasibility study for the development project.. $100 billion investments

6/15/2023   Economy

The Ministry of Transport announced the conclusion of the activities of the technical committees of the development road project, while revealing the approval of the economic feasibility study prepared by the Italian consulting company on the vital project.

Last May, Baghdad hosted a conference to announce the initial launch of the strategic development road project, in the presence of transport ministers and representatives of ten regional countries. Billion dollars.

The minister said Razzaq Mohibis Al-Saadawi In a speech he delivered yesterday during the meeting of the technical committees on the development path project sponsored by his ministry, "The development path constitutes a qualitative transition in the economic and commercial reality of Iraq, the region and the world."

And during the meeting, which was held with the participation of ten countries, that Iraq The technical committees are expected to present their governments' full perceptions of the nature and proportions of their participation in the development and special designs project, stressing that the project will strengthen relations Iraq economic and social with the countries of the world.

Al-Saadawi revealed the approval of the economic feasibility study prepared by the Italian consulting company, renewing his determination Iraq On the completion of this project, as it constitutes a qualitative transition in the economic and commercial reality of Iraq, the region and the world.

He stated that the presence of these countries is a prominent and distinctive sign, indicating the success of the project and its importance to them, and the evidence is the participation of these countries and the joining China And Lebanon With this great international project, with the presence of the World Bank.

To that explained the marine captain Salah Al-Eidani Road investment would help Iraq The project is expected to achieve integrated development for the countries participating in the project, and its investments are expected to reach more than 100 billion dollars for its first phase, while its industrial, marine and land investment sites will constitute promising economic, financial and technological centers that compete with global counterparts, according to the official newspaper.    LINK

************

Clare:  Kurdistan Finance receives 400 billion dinars from Baghdad and sets a date for distributing salaries

6/15/2023

The Ministry of Finance and Economy of the Kurdistan Regional Government announced, on Thursday, the transfer of 400 billion dinars from Baghdad to its bank account to finance employees' salaries.

The ministry said in a statement received by Shafaq News agency, "By a decision of the Federal Council of Ministers, today, an amount of 400 billion dinars was transferred to the ministry's bank account in the Erbil branch of the Central Bank, through Al-Rasheed and Al-Rafidain Banks."

The statement added, "The salaries of employees for the month of May will begin to be distributed, starting from the 18th of this month, as health will be the first ministry."  LINK

Thursday Morning Iraq Economic News Highlights 6-15-23

Thursday Morning Iraq Economic News Highlights 6-15-23

Adviser To The Prime Minister Suggests A Gradual Decline In The Dollar

Economical  2023/06/15  Mazhar Muhammad Salih, the financial and economic advisor to the Prime Minister, suggested yesterday, Wednesday, that the exchange rate of the dollar would gradually decline with the approval of the budget.

Saleh said, in a press statement: "The delay in enacting the budget law delayed fixing the new official price and thus was reflected in the exchange rate of the dollar, in addition to the increased demand for the dollar and the high spending in the Iraqi currency by citizens, merchants and the government."

He added, "Iraq currently has very good hard currency cash reserves, which are at the highest levels in Iraq's history."

Saleh pointed out that "after voting on the budget law, and fixing the official price at (1300), the coming days will witness a gradual decrease in the exchange rate of the dollar in the parallel market, until the official price is reached."

The exchange rates of the dollar against the Iraqi dinar are witnessing a significant increase in light of a battle waged by Prime Minister Muhammad Shia al-Sudani to reduce prices. 

 locally.    https://alsabaah.iq/79055-.html

Hammam Al-Shamaa: The Price Of The Dinar Will Decrease More Against The Dollar In The Coming Months

Posted On2023-06-15 By Sotaliraq   Economic expert Hammam al-Shamma saw that the exchange rate of the Iraqi dinar will decrease against the dollar during the next six months, noting that the central bank will have to print quantities of the Iraqi currency to secure the government's operating budget.

Al-Shamma said: “It is assumed that there is no relationship between the budget and the change in exchange rates, but the exchange rate is now subject to the restrictions imposed by the US Federal Reserve with the Central Bank, in establishing a platform with specifications and conditions, so that it affects the amount of foreign currency sold, whether in cash.” or in the form of transfers.

It is noteworthy that the Iraqi Council of Ministers approved on Tuesday (February 7, 2023) the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, at the equivalent of 1,300 dinars to one dollar, according to a statement issued by the media office of the Prime Minister, Muhammad Shia’ al-Sudani.

Al-Shamaa explained, “The talk about the impact of approving the budget on the exchange rate is inaccurate, but approving the budget in light of the restrictions imposed by the US Federal Reserve will lead to a decrease in the exchange rate of the dinar and an increase in the dollar, despite the Central Bank’s measures to try to prevent a decrease in the exchange rate of the dinar.”

The Central Bank is required to provide 12.5 trillion per month   LINK

Experts: The Budget Raises Concerns About The Country's Economic Future

2023.06.14 - Baghdad - Nas   Iraq's passage of the largest budget in its history has raised fears among experts, who say it will take the country's expenditures to the brink of collapse, while government supporters insist this budget law is vital to mitigating a long post-election political debate that has led to entire years without budgets. The last one is in 2022. 

Iraq had previously spent 2014 and 2020 without a budget, for reasons also due to sharp political divisions. 

A report by (The National) news website, translated by (Al-Mada), indicated that “despite the passage of 18 months without a budget amid record oil revenues and legislation restricting government expenditures to levels lower than the previous budget, the Iraqi parliament took four consecutive sessions in order to pass this year’s budget.” ». 

  The report added, "Part of the reasons for the delay were due to disagreements between different political blocs, most of which are about the Kurdistan region's share of the budget, the rights of certain other provinces within the region and how to market their oil exports." 

  He pointed out, “The budget, which amounts to $152 billion, of which 12.6% is allocated to the Kurdistan region, has raised concerns about whether oil prices fall below $70 a barrel, which is the expected average price per barrel over three years according to which the budget was calculated, then it will The state will not be able to fulfill what was approved in this agreement. 

  The report pointed out, "The International Monetary Fund had even worse predictions regarding the oil price rate that it relied on in calculating the budget of Iraq, a country whose economy depends entirely on oil." 

And he continued, "The Monetary Fund confirmed that Iraq needs an average price of a barrel of up to 96 dollars, and the Brent crude oil benchmark price index for Monday closed at 72 dollars a barrel." 

 "The budget is based mostly on operating expenses, and there is not enough share of the budget allocated for investment," says Sajjad Jiyad, a political analyst and fellow of the American Century Foundation Institute. 

Jiyad denied, "The existence of real allocations for investment in the budget, as it focused only on expanding what was in previous budgets and left only a few billions for investment." 

Jiyad indicated, "Even if the government was able to implement 80% of the budget items, it would not increase oil revenues, but this would lead to the creation of new job opportunities." 

And the report continues, "Iraq suffered from low executive budget allocations, which impeded spending on vital reconstruction projects even during times of high oil prices."    

The report noted, "The government must instead increase investment spending and reduce part of other expenditures in order to mitigate a high deficit estimated at $49 billion."    

 And Jiyad goes back to saying, "If this is not done, and if oil prices fall at the time, we will not have a real way to mitigate that deficit unless we reduce those expenses."    

For his part, the government advisor for financial affairs, Mazhar Muhammad Salih, said in an interview with the Associated Press, translated by Al-Mada, that “the new budget will be a cause for concern, as it depends mainly on oil revenues, and if oil prices fall, the size of the deficit will It will increase, which will force the government to borrow. It is a dangerous expectation that will lead to debt problems.”     

In addition, Mohsen al-Mandalawi, First Deputy Speaker of Parliament, said, "It is vital that we reduce spending and increase non-oil revenues to enhance the state's imports in the sectors of agriculture, services and reconstruction."    

While the Prime Minister's advisor for foreign relations, Farhad Alaeddin, stated that "the budget law is vital for the implementation of the government program and the projects it includes."    

And Aladdin continued, “The budget law this time provides continuity and prevents any obstruction to government performance. The government will be able to start implementing infrastructure projects and transform Iraq into one of the largest workshops in the region ».    

For Prime Minister Muhammad Shia al-Sudani, according to the report, “the budget that the Council of Ministers voted on last March 13 prioritizes the basic needs of Iraqi citizens and their families, and aims to meet their aspirations for government services, construction projects, and infrastructure.”    

And the report went on, “Al-Sudani said that the budget addresses the phenomenon of recurring projects’ delay or failure that has accompanied governments over the past years. This vision also confirms the reduction of operational spending, the development of non-oil revenues, and the support of the private sector.”    

Translated by: Hamid Ahmed _ from: (The National) website and (Associated Press) _ Al Mady 

https://www.nasnews.com/view.php?cat=109141

The high price of the dollar against the dinar in Baghdad and Erbil

2023-06-15 02:14   Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar increased today, Thursday, in the main stock exchange in the capital, Baghdad, and in Erbil, the capital of Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 147,150 Iraqi dinars for 100 US dollars this morning.

While the prices recorded yesterday morning, Wednesday, 146,750 dinars, compared to 100 dollars.

Our correspondent indicated that the buying and selling prices increased in the exchange shops in the local markets in Baghdad, where the selling price reached 148,250 Iraqi dinars per 100 US dollars, while the purchase price reached 146,250 Iraqi dinars per 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the price of the dollar also recorded an increase, as the selling price reached 147,400 dinars against the dollar, and the purchase price reached 147,350 dinars against 100 dollars.   LINK

After Completing The Budget.. 5 Laws On The Agenda Of The New Legislative Term

Policy  |Yesterday, 22:4  Baghdad today – Baghdad  Today, Wednesday, independent MP Hussein Arab revealed the most important laws that Parliament will enact with the start of its new legislative term, and after the completion of the budget.

Arab told "Baghdad Today" that "there are many important laws awaiting their enactment in the House of Representatives, and the legislative chapter of Parliament will be important to legislate these laws, and there is a consensus of representatives to make the new chapter the chapter of legislation of suspended laws."

And he indicated that "one of the most important laws that Parliament will enact with the beginning of its new legislative term is (the law for people with disabilities, the labor law, the national security law, the intelligence law) in addition to amending the drug control law, and other important laws that directly affect the citizen."

And the House of Representatives finished voting on the budget law for three years two days ago, after about 3 months of discussions and discussions.   LINK

For The Second Day.. The Rise In Dollar Prices Against The Dinar In Iraq

THURSDAY, 06-15-2023, KARRAR AL-ASADI  Today, Thursday, the exchange rates of the US dollar rose against the Iraqi dinar, on the main stock exchange in the capital, Baghdad, for the second day in a row.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 147,150 Iraqi dinars for 100 US dollars this morning.

While the prices recorded yesterday morning, Wednesday, 146.750 dinars, compared to 100 dollars.

The buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 148,250 Iraqi dinars for every 100 US dollars, while the buying prices reached 146,250 Iraqi dinars for every 100 US dollars.    https://non14.net/public/157783  

The World Bank Is Financing The Comprehensive Development Plan For Baghdad 2030

Money  and business  Economy News _ Baghdad  The Baghdad Municipality is heading to implement the project of the comprehensive development plan for the city of Baghdad until 2030, funded by the World Bank, after the completion of its designs by local and foreign companies. 

The official spokesman for the Municipality, Muhammad Al-Rubaie, said in an interview with the official newspaper, followed by "Al-Iqtisad News", that the plan is an official document that included modern designs for the capital, because of the presented basic plans approved since 1973. 

He added that the plan will work to renew Baghdad by adopting planning modernization and not adopting traditional concepts, supporting and securing interactive partnership between the public and private sectors, economic diversification, preserving the city's identity, protecting heritage and tourist buildings, and preserving the environment.  

Al-Rubaie indicated that the new plan will take into account the housing crisis, future needs, and the country's transition from a centralized economy to a decentralized one, while addressing past problems, raising the level of all infrastructure services, transportation, and various social services, and displacing harmful land uses outside urban areas, in addition to developing comprehensive details for the various projects with A phased implementation plan for projects until 2030. 

Views 84  06/15/2023 - https://economy-news.net/content.php?id=34755

Economic Integration} Regional.. Iraq's Gateway To Stability

Iraq  2023/06/14   Baghdad: Haider Al-Jaber   Everyone agrees that the economy is the main driver of politics, and that political understandings are the result of a previous economic understanding. Observers summarized Iraq's crises as primarily economic, and that obstructing the provision of services is behind political differences.

The Director of the Center for Strategic Thinking, Dr. Ihsan Al-Shammari, supports the idea of ​​regional economic integration away from political differences, stressing that it is a global positive trend.

Al-Shammari said to "Al-Sabah": "Economic integration according to the new philosophy of foreign policy that relies on networking economic, commercial and investment interests to create alliances between countries; contributes greatly to mitigating political intersections between countries," and pointed to the direction of the region.

And he indicated that "the understandings that took place recently are political and will be further strengthened if there is economic integration among the countries of the region as a whole." From the countries of the region towards groups such as the (Group of Twenty), (Brexit) and (Shanghai), and this economic integration greatly enhances the creation of space for understandings, and the economy has a major role in drawing up foreign policy for most countries.

For his part, academic and writer Dr. Mujasha' Al-Tamimi stressed that "the economy is affected by politics," calling on the Iraqi government to invest in the opportunity for calm in the region to address many of the economic problems it suffers from.

Al-Tamimi told Al-Sabah: “Economic integration is greatly affected by political intersections, because political stability affects greatly and directly in developing the economic movement.” It may have the most prominent and fastest impact, not only in the two countries, but also in the economies of the Gulf region and the Middle East."

Al-Tamimi called on the Iraqi government to "invest the opportunity to address many of the economic problems that Iraq's economy suffers from, and to reactivate the cooperation agreements that Iraq signed, whether with Tehran or Riyadh and others in the field of economy, trade and investment, because the economic impact is the most rapid and clear in the absence of political intersections.

He added, "We need economic stability because it has become clear the direct impact of integration in the region, which will be an important entry point for achieving political stability, and vice versa as well." He pointed out, "the importance of economic stability, which stems from the fact that it leads to achieving full employment of the available economic resources (material and human). ), and avoiding major changes in the general level of prices while maintaining an appropriate real growth rate in the national product.

In turn, political analyst Hamid Al-Kaabi preferred economic integration with the presence of a suitable environment, stressing that this integration has become an urgent international necessity.

Al-Kaabi told Al-Sabah: “One of the axioms of economic work is that work is not integrated except in light of the existence of an appropriate, consistent and harmonious environment, otherwise the economic work will be as if it passes through a minefield.”

He added that “talking about integration is one thing, and individual work is something else. In light of the data of economics and the data of technological progress that made the world a big house and not a village, we see integration has become an urgent necessity that no country is indispensable for

. For China to be one of the leaders of the new world, and we see clearly that China needed to integrate with dozens of countries, but rather strives to complement the infrastructure of other countries for its strategic interest. Projects stop integrating because of political incompatibility or political difference.

Al-Kaabi gave an example of the Syrian war, "which has become a realistic example that the supply of natural gas to Europe, and due to the lack of agreement between the parties, led to the outbreak of the Syrian war, and therefore, due to the failure to overthrow the regime, led to the cessation of the gas project to Europe," and stressed that "The path of integration passes through understandings and partnerships. Otherwise, individual action remains the master of the situation in this world."

Edited by: Muhammad Al-Ansari   https://alsabaah.iq/78993-.html

"Tidbits From TNT" Thursday Morning 6-15-2023

TNT:

Tishwash:  Economist: Iraq finds its interest in joining the Chinese Silk Road

The economist, Safwan Qusay, explained the importance of the multiplicity of land and sea routes for transporting goods and commodities between Asia and the European Union through Iraq and the countries of the region.

Qusai told Al-Maalouma, that "Iraq is looking for its interest with all existing partners from other countries, as the presence of an economic power such as China and its desire to cross goods towards the European Union through Iraq and the Silk Road is an important matter, in addition to that it supports the possibility of investing in the path of development.” In linking the Gulf countries overlooking the Arabian, Red and Gulf seas with the waters of the Mediterranean.

He added, "The Silk Road represents an alliance of ports that can contribute to increasing the economic power of the countries of the region when they and Iraq have views of the water and link through land roads at the level of three continents."

And he indicated that "the sea ports and associated land roads in the region will make the supplier have options to transport his goods quickly through the development road or other land routes, or he may not need this speed and go towards sea transport in the event." that the goods are not foodstuffs that are not damaged by long storage.”  link

************

Tishwash:  Iraq receives "requests" from European and African countries to participate in the path of development

 Adviser to the Prime Minister for Transportation Affairs Nasser al-Asadi confirmed, on Wednesday, that Iraq had received requests from countries in the continents of Asia, Europe and Africa to participate in the development road project.

Al-Asadi said, "The meeting of the technical committees that was held today with the participation of 10 countries is the first step to determine how the project will proceed, and there will be bilateral discussions between delegations and the competent authorities in Iraq to determine priorities for work."

He added, "Participation priorities will also be determined as the basic basis for launching the project, and many details will be studied, including determining the percentage of participation of each country in the path of development."

He continued, "The delegations of the countries that attended today confirmed the desire of their governments to participate, including China, and we received requests from Gulf, Asian, European and African countries on the basis of what was presented at the Development Road Conference held on May 27," according to the official agency   link

************

Tishwash:  Al-Sudani: Iraq is qualified to be an attractive environment for the private sector and foreign companies

Prime Minister Muhammad Shia al-Sudani affirmed today, Wednesday, that Iraq is qualified to be an attractive environment for the private sector and foreign companies.

The media office of the Prime Minister stated in a statement that, "Prime Minister Muhammad Shia' al-Sudani received today, Wednesday, a delegation of the Iraqi-American Business Council headed by the President of the Council, Vice President of the American Chamber of Commerce for Middle East Affairs, Steve Lotus."

And the Prime Minister stated, according to the statement, that "Iraq is qualified to be an attractive environment for the private sector and foreign companies," stressing that "the government has taken a series of decisions to simplify procedures for investors, and work to address problems in this field."

He added, "Iraq enjoys security, political and social stability, and it is qualified today more than ever to be an attractive environment for investment and foreign companies," pointing out that "Iraq has a real opportunity for success, and there is no alternative to peaceful coexistence and support for the state and its institutions."

Al-Sudani explained, "The Iraqi experience does not exist in the region at the level of local and parliamentary electoral representation, and it indicates the vitality of the democratic system," noting that "the government is aware of the size of the heavy legacy that began since the eighties war and caused negative effects in most sectors. priorities in its program that it works to achieve.

He continued, "Iraq cannot remain dependent on oil, as the world is heading today to oil alternatives that will be ready after 2028, and that countries of the world are spending billions of dollars for oil alternatives, especially after the war in Ukraine, and oil-dependent countries must prepare for alternatives."

The Prime Minister stated, "Iraq possesses natural resources that have not been invested, and it is qualified to be an agricultural and industrial country due to its strategic location, stressing that the private sector is our true partner to achieve our vision, reduce time and find solutions to problems."

As Al-Sudani explained, "We started investing in the burned gas sector, which costs us $4 billion annually," stressing that "the Total agreement is one of the most important gas investment agreements and the development of oil fields, which will provide half of our gas needs."

He continued, "There are contracts with Chinese and Emirati companies that will provide us with half of the gas we import, and we are preparing to announce the sixth round of gas fields, which is happening for the first time in Iraq, in terms of natural gas investment."

The statement concluded, that the Prime Minister stressed that "investing in these projects will provide us with important financial returns that will be employed in various sectors, and we will avoid the climatic effects resulting from the burning of gas, and Iraq is keen on the presence of American companies in Iraq," explaining, "The Ministerial Council of Economy has representatives from The private sector participates with the government in formulating decisions and procedures that will facilitate the work of investors in Iraq.  link

Mot: .. Best Explanation Ever!!! Girls are opposite

Mot: . siiigghhhhhh - Dealing with the ornery ""Wee Folks"" ....