More News, Rumors and Opinions Tuesday PM 12-3-2024
KTFA:
Clare: Prime Minister's Advisor: Budget awaits parliamentary amendments to suit government program
12/3/2024 Baghdad - WAA - Amina Al-Salami,
the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Tuesday, that the financial situation in the country is currently governed by the Federal General Budget Law, while indicating that the budget is awaiting amendments that suit the government program.
Saleh told the Iraqi News Agency (INA): "The financial situation in the country is currently governed by the Federal General Budget Law No. 13 of 2023 in accordance with the Three-Year Budget Law (2023, 2024 and 2025)."
He added that "the legislation and approval of the federal general budget for the year 2025 has become a foregone conclusion as a law under the three-year budget and has been legally adopted," noting that "the three-year budget law was submitted and legislated for the year 2025 in accordance with the Three-Year Federal General Budget Law, which was issued in the Official Gazette in June 2023, and there is an amendment to the paragraphs related to the region's revenues and expenditures presented to the Council of Representatives to make amendments that suit the government program." LINK
Clare: It does not remain "just attractive".. Iraq wants to invest its money "in projects abroad"
12/2/2024 News-Economy
revealed a member Parliament Iraqi MP Ibtisam Al-Hilali announced today, Monday, Iraqi plans to activate foreign investments, meaning that Iraq By investing his surplus money in projects abroad.
Al-Hilali said in an interview with Sumaria News, "Thanks to the good diplomatic relations that the government of Mohammed Shia al-Sudani has established with neighboring countries and the world, economic relations have also improved," noting that "there are large internal and external investments."
She explained that "domestic investments serve the country by improving the environmental situation and infrastructure," indicating that "foreign investments have a financial and economic return for Iraq."
She stressed that "we had a meeting with the French embassy to activate foreign investments," indicating that "Iraq is a capable country."physically He can invest his money in foreign investments to benefit the public. Iraq and neighboring countries.”
Questions have often been raised about why the investment Iraq His money is invested in various sectors, including external sports sectors as well as technology, similar to other countries, which could lead to a diverse financial return with the lack of non-oil revenues in Iraq Compared to oil revenues. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: Mr Sammy wants to tell you that the day when we stop the currency auction and deal no more in dollars in these auction but all in payout of dinars, it's either very soon before or right after that of the closing of the auctions we have to see a new rate... FRANK: You're 100% correct Mr. Sammy. You know what they're going to do. They're going to lift the value...Stopping of these auctions will require a new exchange rate...They're going to stop them on December 31, 2024.
Pimpy Real Effective Exchange Rate - that is not the nominal exchange rate that we see. The one we watch is called a nominal exchange rate. We get 1307 dinar for every dollar...What is a Real Effective Exchange Rate (REER)? The weighted average of a county's currency in relation to an index or basket of other major currencies...It's making a comparison of goods sold. They're trying to see if they are competitive against other countries. It's not the same thing as a nominal exchange rate...an officially announced rate. The Central Bank sets the exchange rate if it is fixed. It doesn't set the exchange rate if it's floating, which is determined by supply and demand...One is dealing with good sold and the other is dealing with the actual exchange of one currency for the other.
Iraq Urgent News for IQD Investors
Edu Matrix: 12-3-2024
URGENT - IRAQ CLOSES BORDERS due to a possible attack from Israel. News for IQD Investors # iqd Rate Here is the channel's statement and intent. Israel is growing impatient with Iraq as militants launch missiles from Iraqi soil every day.
Do the Middle East conflicts date back to biblical times? Why is Iran so upset with Israel? What we know for sure is that Iraq is bracing for a possible attack from Israel.
The IQD Exchange rate is slightly higher than usual for a Monday. The rate has been known to increase on the weekends and return to normal on Monday mornings.
Expect A Stock Market Correction, (NOT A CRASH), To Hit Soon. This Is Why.
Greg Mannarino: 12-3-2024