Parliamentary Finance: To vote on the new Iraqi budget within two weeks

[rvmydinar]

24 minutes ago, 64jaguar said:

That's pretty naive imo... International Bankster's would love for Iraq to squander any loans, there ultimate goal is Iraqi Bankruptcy where they can come in an takeover the substance of the Country, the land, the oil etc.. If you think the IMF gives a crap about people your dreaming... these creeps have done that all over the world for hundreds of years..

If you said that, then why did the imf put the restrictions for iraq to get a loan? Actually, if the imf ultimate goal is iraqi bankruptcy, then why can the imf just give a very very easy loan without a restriction and condition at all? Imf can just say to iraq that i give you an easy loan with a limited time ( just assume let's say in 1 year )  to pay off the loan. Then, When the time comes and iraq still can't pay off the loan, then the imf will take over the whole country of iraq. That's pretty easy.

[64jaguar]

The IMF is busy right now attempting to take over the management of the worlds money systems. (Remove the Dollar as the reserve currency), Of course they will come out and appear to be doing this in the best interest of the people… that’s all B.S. imo… They have a track record of a thousand years lending money to Governments that could never pay them back and where they eventually claimed those States. I’m not saying the IMF will take over Iraq with a default on a 6 Billion Dollar loan but I understand their intentions in the long run. I’m not bashing you for thinking like this. I’m just trying to make you aware. I could be totally wrong but I doubt it…

Now this might be just a conspiracy theory but the Back Story reference to the so called “Cabal” is true imo..

Sorry if we’re getting off the subject but these people control the money..

https://themarshallreport.wordpress.com/2021/01/20/trump-ode-to-the-corporation/   

BACK STORY:

The City of London (that is the square mile within Greater London) is not technically part of Greater London or England, just as Vatican City is not part of Rome or Italy. Likewise, Washington DC is not part of the United States that it controls. These three entities have one goal and that is to do away with the old world order of sovereign nations and usher in a new global world order under one government rule under the iron fist of the cabal.

 

These sovereign, corporate entities have their own laws and their own identities.They also have their own flags. Seen below is the flag of Washington DC. Note the three stars, representing the trinity of these three city-states, also known as the Empire of the City. (There is also high esoteric significance to the number 3.)

The government of the United States, Canada and Britain are all subsidiaries of the crown, as is the Federal Reserve in the U.S.. The ruling Monarch in England is also subordinate to the Crown. The global financial and legal system is controlled from the City of London by the Crown.

The square mile making up the center of Greater London is the global seat of power, at least at the visible level.

[yota691]

A parliamentary bloc reveals new economic risks in the 2021 budget

•  Time: 01/26/2021 16:29:26
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•  Read: 3,406 times

  

{Baghdad: Al Furat News} The Parliamentary Approach Bloc revealed, on Tuesday, the economic and social risks of the current form of the 2021 budget.

The head of the bloc, Ammar Tohme, said, in a statement, which Al Furat News received a copy of, that: We have repeatedly mentioned that the proposed expenditures in the 2021 budget are greatly exaggerated, and this fact becomes clearer by comparing them with the budgets of the coming years (2019-2020).
" We also explained in the tables that the necessary expenditures (operational, investment and provincial development allocations) that are commensurate with the real need do not exceed a total of (90) trillion dinars.
”Tohme stressed that“ these proposed expenditures in the 2021 budget are very numerous and go beyond the realistic need by paying attention to the budget articles that stipulated To grant the region allocations for the years (2014-2019) and to pay the borrowing and the region’s financial obligations owed by it to external parties.
The application of the material that allocates entitlements to the region for years (2014- 2019) means granting the province allocations ranging from (28-36) trillion for those four years, not to mention the amounts of related loans owed by the province to destinations overseas which does not know the amount until the Office of Financial Supervision Federal. "
He added that" The budget is an annual law whose enforcement and validity is limited to one year, starting on the first day and ending at the end of the last day of the year. This clearly means that the inclusion of these materials with those allocations is intended to be disbursed to the region in this year, and this confirms the validity of our warnings about the severity of the high total amount proposed in the 2021 budget.
Tohme concluded his statement by saying, "We put these facts and what we mentioned in our previous statements before the political forces to take the responsible national position to spare Iraq complex economic and social risks, as well as address the public opinion to bear its responsibility by pressing its representatives to reduce the exaggerated expenditures and to make the standard of justice and the provisions of the constitution a ruler in the distribution of wealth to Iraqis. ".
Wafa Al-Fatlawi

[yota691]

Including the deduction of salaries ... Parliamentary finance reveals very important information about the budget

•  Time: 01/26/2021 20:26:33
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•  Read: 15,444 times

  

{Baghdad: Al Furat News} The Parliamentary Finance Committee revealed very important information about the draft federal budget law for 2021.

"Initially we were able to reduce total spending to 127 trillion dinars, and there may be other reductions, and we raised the price of a barrel of oil in it from 42 dollars to 45 dollars, which will add about 5 trillion dinars, bringing the revenues to 98 trillion dollars," committee rapporteur Ahmed Al-Saffar said in an interview.

He added, "57 percent of the budget deficit has been reduced, and the income tax will be imposed on the total salary instead of the nominal salary at reasonable rates, indicating that all tax laws need to be amended since most of them are old and need to be canceled and other new legislation.
We have hosted many officials and we found during Their discussion is an exaggeration in some of the allocations that we were able to transfer to other chapters. We do not want the government to contest it and we seek an understanding. "
He continued, "The government challenges any material if it is obtained with a financial setback and what will be the budget changes in the interest of the government, parliament and the Iraqi people, and we have contact with government cadres."
He concluded that "if there was a sovereign fund in Iraq and putting one dollar on each barrel, it is better than the provincial funds, and perhaps it will be collected in one fund in the future." Mina said that "the region’s share is one of the outstanding issues in the budget. The region does not have a single civil servant called the aliens. "

He added, "The region’s delegation denied selling Kurdistan oil to Turkey for 50 years in advance and said that it was a storage and transport contract only." A miniature parliament is represented by all the blocs, and if the committee approves a specific text, the law will pass in the House of Representatives.

[yota691]

Cougar: The budget has reached Parliament as a "bomb ball"

•  Time: 01/26/2021 22:18:42
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•  Read: 2,691 times

  

{Baghdad: Al Furat News} A member of the Parliamentary Finance Committee, Jamal Cougar, described the federal budget for 2021 as a "bomb ball."

Cougar said, in a televised interview broadcast by Al-Furat satellite channel tonight, that "the 2021 budget numbers are very exaggerated and the white paper and planning are absent from them, and they do not bear any fairness in the distribution between governorates, ministries and segments of society, as well as no solutions to differences between the center and the region."
He added that "the budget is like the mined ball and reached the House of Representatives," pointing out that "all sections of the budget will be subject to amendment based on the government's request for the amendment instead of returning it to the inclusion of the Council of Ministers."
And Cougar said, "There are a number of proposals regarding salary cuts, including merging what came from the government and amendments and applying the law to the salary of one million dinars or more or canceling the deductions clause completely."
He continued, "There are many sectors in which the government did not have the decision to spend, including weapons, maintenance, service goods and others in the 2020 budget, and building the new budget on these numbers is not correct."
Couger noted that "the current expenditures in the budget of 136 trillion dinars, of which 18 trillion dinars are investment for licensing rounds," declaring, "The next estimated budget will be around 130 trillion dinars."
Regarding what was discussed with the Kurdish delegation, Cougar explained, "The Kurdish delegation presented all the data that the Finance Committee needs after the latter posed 8 main questions, and all of them were answered, including about oil." 
 He stated, "The agreement with the region included commitment or cutting the financial share, and there is a high-level Kurdish political delegation that will come to Baghdad to conclude agreements."
Cougar added, "The Kurdish delegation handed over all the databases of the region’s employees, the ports, and even the border guards are currently in the region," concluding, "Baghdad is putting pressure on Erbil greatly regarding the oil file, and the region has a large debt to oil companies."
Wafa Al-Fatlawi

[yota691]

Parliamentary Committee: Increase the ration card allocations in the 2021 Iraq budget

Iraqi Parliament - Archives

 26 January 2021 08:31 PM

 

Mubasher: The Parliamentary Economy Committee in the Iraqi parliament announced an increase in the allocations for the ration card items in the 2021 budget.

MP Ali Saadoun Al-Lami, a member of the committee, told the Iraqi News Agency (INA), today, Tuesday, that "the allocations included in the 2021 budget for the ration card items before the transfers amount to 670 billion dinars."

A member of the committee stated that these allocations do not live up to the level of ambition and the possibility of developing them, so an official letter was sent to transfer some of the chapters and enhance the balance of the ration card items.

He pointed to the increase in allocations to the Ministry of Industry after it had been allocated 33 billion dinars through a transfer from some institutions.

He pointed out that increasing allocations would operate some important factories and stalled factories to supplement the budget and convert companies from losers to winners.

[yota691]

In a symposium for "parliamentary development" ... real numbers are required that do not burden the country

Wednesday 27th January 2021 15

 

 Baghdad: Hussein Thahab 

 

Representatives and experts in economic affairs unanimously agreed on the need for the general federal budget to present real figures that do not burden the country, as it represents, with its estimated amounts of 164 trillion, the second largest budget in the Arab world. The symposium organized by the Parliamentary Development Institute under the auspices of the First Deputy Speaker of Parliament, Hassan Al Kaabi, was titled "An Overview of the Federal Budget for the year 2021" and included three axes They are the negative and positive effects of the devaluation of the Iraqi dinar, a reading of previous budget laws, as well as an economic view of the federal budget. 

financial management

The Secretary-General of Parliament, Sirwan Abdullah Ismail, moderated the symposium, saying: "Iraq is in dire need to advance financial management to better levels, especially since the country is rich and is characterized by an abundance of wealth under and above the ground, and the country is also distinguished by the abundance of labor that represents 60 percent of the country's population." .

He pointed to "the importance of raising the allocations of the Ministry of Education and Labor to raise a generation capable of advancing the country and its economy," noting that "the development process must start with human resources, and the first stages of which are the Ministry of Education."

For his part, Director of the Institute for Parliamentary Development, Saad Fayyad, said: "We seek through these meetings to develop constructive ideas and convert them into legislation, hoping to amend work paths and achieve progress for the country with the efforts of everyone."

 

A historical juncture

The former director general of the Central Bank and an expert on financial affairs, Mahmoud Dagher, stressed: "The decision to devalue the currency represents a historical turning point, especially that Iraq is one of the countries that adopt a fixed exchange rate, as economic circles hope that the House of Representatives will initiate the adoption of a new exchange rate that does not carry significant negative effects. On the market

 Local. "

He pointed out that "floating the currency for Iraq is unacceptable, as countries that do not have resources legislate this procedure according to specific contexts, and that Iraq has linked its currency to the dollar, because our revenues are in dollars and our imports, as well as the fact that the dollar is a global currency that most countries in the region have linked to it only." Kuwait has moved to peg its currency to several currencies. "

 

Commercial circles

On the effects of devaluation, Dagher said, "Significant effects affected the commercial circles in particular due to the dealings between wholesalers and retailers, whose effects reached all working groups in the markets."  

He explained that "the non-specialized media sometimes causes burning of economic ideas, as it does not know the size of the effects it leaves when dealing with an issue related to money in an inaccurate manner." 

As for the escape and smuggling of the dollar, Dagher said: "There is no smuggling of dollars from Iraq, but rather an escape abroad in various forms such as buying real estate and treatment, as well as for studying in different countries, and these and other reasons go in dollars outside the country legally and according to the law."

 

Government program

In the second axis, the Director General of the Parliamentary Research and Studies Department, Mayada al-Hijami, confirmed that "the budget is an independent financial plan, according to which the state decides the revenues and expenditures that target the government program and prepares annual plans that are translated through the budget, which is the most important law issued by the legislative authority."

She pointed out that "the constitution specified the date during which the government sends the budget to the House of Representatives, and in 2020 it did not send the budget, but in 2021 it arrived late, and the delay affects the projects and their implementation, although the country badly needs it." 

 

Exchange ratios

Al-Hijami added that "the draft budget for the current year specified the exchange rates, but did not give priority to the productive sectors, and the problem of the draft budget is that it is not without borrowing." 

 

Social responsibility

In turn, Professor of Economics at the College of Administration and Economics, Al-Mustansiriya University, Dr. Sadiq Tohme Khalaf, revealed that "the budget has become everyone’s talk as it is a social responsibility, and it has a relationship to stability that makes investments in the country." 

He pointed out that "the large allocations to the ministries, including electricity and health, must be matched by a service provided to society, especially as we are facing a budget that is the largest for Iraq, amounting to 164 trillion dinars."

He cautioned that "the budget is devoid of indicators of the domestic product and other important indicators, especially since the salary allocations exceeded 53 trillion, at a time when there are institutions that can cover their expenditures and achieve profits that must be examined."

He demanded that "the budget includes interest in the private sector and that the possibility of employment in this sector and its absorptive capabilities be searched for, especially as it owns more than 150,000 industrial plants."

 Stopped ".

 

Investment aspects

Vice President of the Businessmen Union Bassem Jameel Antoine explained that "the budget did not bring anything new to support the investment aspects that could stimulate the labor market in the country," pointing out that "the private sector is the back of the government and can achieve food security, through industrial and agricultural production, as well as It contributes to providing job opportunities for the unemployed and unemployed.

 

private sector

He called for "the importance of legislating a law for the retirement of the private sector because it obviates everyone's orientation towards the public sector, as there are major projects in the industrial and agricultural productive sectors, as well as the tourism sector." On the devaluation, he said that "the decision represents a shock, and it was better to devalue the currency 10 "Percent for a certain period, and after that the situation is evaluated and the best decision is approved, whether the price is fixed or another percentage is reduced, especially since the decision has implications for the poor classes, and may cause deflation."

 

Two international companies

Former MP Muhammad Salman pointed out that "the budget includes intersections between ministries, which requires the Ministry of Finance to prepare an acceptable budget", suggesting that "the budget law includes the assignment of two international companies, one for accounting and the other an international auditing company to treat the imbalance, to follow the funds and their directions."

As for the head of the Al-Nahrain Foundation for Supporting Transparency and Integrity, Muhammad Rahim Al-Rubaie, he explained that in Iraq the problem does not lie in the laws but in the instructions, and there are international experiences that can be used in this area.

In the detail of "selling state real estate" that is included in the budget, he said: "The best sale is not, but rather it is given to government institutions that do not own real estate and pay large sums for rent."

[DWS112]

 

32 minutes ago, yota691 said:

Exchange ratios

Al-Hijami added that "the draft budget for the current year specified the exchange rates

I guess its in there!

[3n1]

1 hour ago, yota691 said:

Iraq is one of the countries that adopt a fixed exchange rate, as economic circles hope that the House of Representatives will initiate the adoption of a new exchange rate that does not carry significant negative effects. On the market

 Local. "

 

hoping the new exchange rate will not carry negative economic effects in my circle too , giddy up 

[Dinarrock]

1 hour ago, DWS112 said:

 

I guess its in there!

Great catch and just hope the rate in their is not the 1460 rate!! Personally I am hoping for a rate of at least $1.17!!!

[yota691]

In pictures, the Central Bank’s confusion paralyzed Shorja and his governor, in front of Al-Sari’s questioning today

•  Time: 01/27/2021 11:36:00
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•  Read: 4,355 times

 

 

 

 

 

 

 

 

 

 

 

  

{Baghdad: Al Furat News} Today, Wednesday, the Shorja market in the center of the capital, Baghdad, witnessed a stagnation in its commercial movement due to the continuous repercussions of the increase in the price of the dollar against the Iraqi dinar and the reluctance of citizens to shop.

The policy of the Central Bank of Iraq to raise the dollar exchange to large losses among the owners of shops and its reflection on the purchasing power of citizens.
On the 19 of last month, the Central Bank of Iraq announced the raising of the price of selling and buying the dollar, as part of the austerity measures adopted by the government, despite warnings of high prices of foodstuffs and commodities offered in the markets.
The Central Bank decided that the amount of 1450 dinars per dollar would be the price of buying foreign currency from the Ministry of Finance, 1460 dinars per dollar, the price of selling foreign currency to banks, and 1470 dinars per dollar the price of selling foreign currency to the public.
Since the bank’s announcement of raising the dollar, confusion continues on the trade scene and economic movement in the country, and has a negative and direct impact on the citizens ’livelihood, especially with the exploitation of the situation by the weak souls of traders and the greed of prices.
And calls have escalated to dismiss the governor of the Central Bank of Iraq, Refinery Ghalib, due to his lack of "eligibility" in managing the bank and monetary policy.
The House of Representatives is scheduled to question the Governor of the Central Bank by the head of the Parliamentary Wisdom Bloc, Faleh Al-Sari, after parliament was not convinced of the first’s answers during its hosting of one of the parliamentary sessions last November.
Al-Sari said to the Euphrates on the 20th of last month, that "the standards set by the central bank governor set the country with financial crises, and we have objections and criticisms of his choice and performance," indicating that "the answers of the central bank governor were not feasible with regard to raising the exchange rate."
Ammar Al-Masoudi

 

 

[yota691]

Parliamentary Finance hosts the director of taxes and the Office of Supervision

•  Time: 01/27/2021 11:51:57
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•  Read: 1,742 times

  

{Baghdad: Al Furat News} The Parliamentary Finance Committee held its 33rd meeting to continue its discussions on the draft federal budget law for 2021.

A representative source told {Al-Furat News}, that "and within the parliamentary finance agenda is to host the President of the General Tax Authority and the Office of Financial Supervision."
It is noteworthy that the Parliamentary Finance Committee has been meeting on a daily basis for about two weeks to complete the discussion and amendment of the 2021 budget bill and has hosted dozens of officials.
"We were able to reduce the total spending of the budget to 127 trillion dinars, and we raised the price of a barrel of oil in it from 42 dollars to 45 dollars, and it will add about 5 trillion dinars, bringing the revenues to 98 trillion," said the financial committee reporter, Ahmed Al-Saffar.
He also added, "57 percent of the budget deficit has been reduced," noting that "income tax will be imposed on the total salary instead of nominal salary and at reasonable rates."
Ammar Al-Masoudi

 

 

[yota691]

Deputy: We will raise the issues of raising the dollar and the reserves during the questioning of the governor of the Central Bank

13:02 - 01/27/2021

 

  

The information / Baghdad…
Member of the Parliamentary Economic Committee, Nada Shaker Jawdat, revealed, on Wednesday, the parliament’s intention to raise the two issues of raising the exchange rate and the reasons for raising Iraq's financial treasury at the Central Bank.
"The House of Representatives will begin questioning the Governor of the Central Bank of Iraq, Mustafa Schaif, today, and there are no indications to postpone the session," Jawdat said in a statement to / information.
She added that "the questions that Parliament will ask are the main ones, the first of which is to raise the exchange rate and its reasons, and the financial storage of Iraq with the Central Bank, pay off Iraq's external debts and the extent of benefiting from foreign loans."
Jawdat explained that "all interrogations from the legal point of view are subject to the conviction of the questioned person, but the political and the various forces refuse to dismiss or protect any person who is benefiting from it." End / 25d

[yota691]

Deputy: The Ministry of Oil carries out tasks similar to those of the Ministry of Finance

 

Member of the Parliamentary Finance Committee Naji Al-Saeedi

money and business Economy News - Baghdad A member of the Finance Committee, Naji Al-Saeedi, said that the Ministry of Oil carried out legal violations by carrying out tasks similar to those of the Finance Ministry. Al-Saeedi added in a televised interview with Al-Eqtisad News that the Ministry of Oil plays a similar role to that of the Ministry of Finance, and this is problematic for the Iraqi government. He pointed out that the Ministry of Oil conducts money disbursement and project implementation operations without resorting to or adhering to the general budget, and this is against the law, indicating that this violates the principle of "budget unity", which means that expenditures and revenues must take place in accordance with what is stipulated in the budget law. With regard to the financial loans for the year 2021, Al-Saeedi confirmed that 2.4 billion dollars of loans will go to the Ministry of Electricity, indicating that giving the Ministry more loans is contingent on its delayed completion of projects.

Number of observations 47   Date of addendum 01/27/2021

[yota691]

Representative economy: We do not have the right to interfere with the exchange rate

Tuesday 26th January 2021 - 11:38

Baghdad - Awa - Noor Al-Zaidi 

The Economic and Investment Committee in the House of Representatives confirmed, today, Tuesday, that determining the exchange rate of the dinar is within the authority of the Central Bank.

Member of the committee, Mayada al-Najjar, said in a statement to the Iraqi News Agency (INA): "The House of Representatives cannot decide the issue of the exchange rate of the dinar against the dollar, because it is within the authority of the Central Bank of Iraq," noting that "the Prime Minister agreed with the governor of the Central Bank on Raising the exchange rate of the dollar against the Iraqi dinar to save the country from these existing crises. 

Al-Najjar added that "you were supposed to schedule the rise of the dollar’s exchange rate, for example, to rise by 10 thousand, not 25 thousand."

[yota691]

Parliamentary Finance: Approval of the budget is subject to an agreement with the region

Tuesday 26th January 2021 - 23:02

Baghdad - conscious

The Parliamentary Finance Committee confirmed that the approval of the 2021 budget depends on an agreement with the Kurdistan region, while noting that the deductions from salaries were rejected in principle.

Deputy Chairman of the Committee, Deputy Muthanna Al-Samarrai, said that the "Al-Tenth" program, which is presented on the Iraqi News Channel, followed by the Iraqi News Agency (INA), today, Tuesday, that most of the committee's deputies rejected the deductions from salaries, indicating that the amount of deductions is estimated at 4.5 trillion dinars.

He added: The committee is working to maximize the resources in the budget, stressing that the size of the budget is exaggerated.

He noted that the budget was different from the white paper, pointing out that the state sells a barrel of oil to the refineries at a price of 5 dollars.

He pointed out that the Finance Committee proposed that the price of a barrel of oil be in the budget at $ 45, confirming that the committee seeks to reduce the budget to 130 trillion dinars.

He continued: There are 119 trillion dinars in governing expenditures that cannot be reduced, indicating that the percentage of the budget deficit amounts to 71 trillion dinars.

He explained that the problems with the region are complicated financially and politically, noting that approving the budget is subject to agreement with the region.

He stated that the Finance Committee will finish its work on the budget within a week, stressing that the debate is still ongoing regarding Resolution 315.

[yota691]

Video: The General Secretariat of the Council of Ministers attributes the size of the budget deficit to the large number of external debts

Sumerian special

2021-01-27 | 05:24

 

 

 

 

 

Source:

Sumerian

 

640 Views

 

There is still talk about the federal budget law for the current year, which amounted to 164 trillion dinars, to be the largest budget in years. But it suffers from a financial deficit described as the largest, as it reached seventy-one trillion dinars, which the government attributed to the large number of foreign debts of the country.
 

Specialists have criticized the current government’s adoption of the same methods as previous governments, in terms of adopting oil rents and its imports, when drawing the general budget, without activating other sectors and diversifying the national economy.

The full report is attached above.

 

 

 

[yota691]

Governmental move to borrow and Parliament finance: We have no knowledge

Thursday, January 28, 2021 54

 

 Baghdad: Shaima Rasheed 

 

The Parliamentary Finance Committee was amazed at the government's approach to new external borrowing, while it confirmed that it was not aware of this.

A member of the Finance Committee in the House of Representatives Jamal Cougar told Al-Sabah: “Any borrowing must be within the budget law, as it is the only law through which to borrow,” indicating that “the loan that the Minister of Finance talked about is not included in the draft budget.”

For his part, First Deputy Speaker of Parliament, Hassan Karim Al Kaabi called for the need to keep the arena of conflict and political disagreement away from all ongoing discussions regarding the draft federal budget law for 2021, ”noting that“ Parliament members are serious about the necessity of organizing the financial relationship between Baghdad and the Kurdistan region and finding radical solutions To remove the existing problems regarding the budget ». 

This came during his meeting with the Deputy Speaker of Parliament, Bashir Al-Haddad, and the delegation of the Kurdistan Regional Government headed by the Vice President of the Regional Government, Qubad Talabani, and an expanded meeting was held to discuss the draft federal budget bill for 2021 and discuss ways to find a common vision on the controversial points in the budget law.

In turn, the Deputy Speaker of Parliament, Bashir Al-Haddad, explained that "the presidency of the parliament with the concerned financial committee is determined to remove the technical problems and obstacles facing the federal budget law for 2021 and approve it as a realistic, fair and equitable budget that meets the needs of citizens in all governorates and the Kurdistan region."

[yota691]

The fiscal deficit in the budget is cut in half ... and the Financial Committee reveals the secret

2021-01-28

Yes Iraq: Baghdad

 

The Parliamentary Finance Committee announced, on Thursday, the reduction of the fiscal deficit in the draft general budget law for the year 2021 to 35 trillion dinars, while confirming that next week will witness the vote on the budget.

 

Committee member Jamal Cougar said, "The Parliamentary Finance Committee raised the price of oil in the General Budget Law for 2021 from 42 to 45 dollars per barrel," noting that "this measure contributed to reducing the deficit percentage in the budget law."

 

He added that "the Parliamentary Committee has removed the unimportant sums while reducing unnecessary expenditures in some articles of the budget law," stressing that "the decrease in the financial deficit in the budget law reached 35 trillion dinars.

 

Cougar said, "Next week will be the date for the vote on the budget law."

[screwball]

On 1/26/2021 at 11:01 PM, rvmydinar said:

Since you said it that way, that means all dinar investors can only exchange dinar for dollars inside country of iraq only ( not out of iraq country )because iraq will be the only country which would be paying out on the dinar. Actually, some dinar investors still believe that once iqd rv, dinar investors can exchange dinar for dollars in the us ( out of iraq country, not inside of iraq country ). Which one do you prefer?

Not exactly dinar heads to central banks gets exchanged at what rate of the country then could be used to purchase oil or:oil credits 

[yota691]

Iraq ... Two proposals to stop the depletion of the dollar and corruption in the border crossings - urgent

 

 

303 Policy 01/2021/28 14:04 ha Baghdad Today -

Special On Thursday (January 28, 2021), a member of the Parliamentary Economy and Investment Committee presented two proposals to the Central Bank to stop the dollar depletion and corruption at the border crossings. In an interview with (Baghdad Today), Jawdat said that "the currency auction at the Central Bank is a drain on financial resources, and there are two proposals before the Governor of the Central Bank of Iraq in order to stop the depletion of the dollar and corruption in the border crossings." She added, "The first proposal is that the sale of the dollar in the currency auction comes in order to cover merchants and companies' imports of goods and commodities, so the amounts of the customs tariff are deducted directly because each request submitted by a merchant or company is supported by the type and quantity of the material," noting that "the tariff deduction will eliminate problems There are large outlets, some of which are under the control of parties and personalities, and at the same time, currency dealers prevented us from depleting hard currency. " She pointed out that "the second proposal is to activate the paper that we presented to the government of Adel Abdul Mahdi by imposing a tax on every dollar exiting Iraq at a rate of 8%, which contributes to maximizing the resources of the Iraqi treasury and this pushes to reduce the amount of the dollar that is being withdrawn by currency dealers abroad." . Baghdad Today - Special On Thursday (January 28, 2021), a member of the Parliamentary Economy and Investment Committee presented two proposals to the Central Bank to stop the dollar depletion and corruption at the border crossings. In an interview with (Baghdad Today), Jawdat said that "the currency auction at the Central Bank is a drain on financial resources, and there are two proposals before the Governor of the Central Bank of Iraq in order to stop the depletion of the dollar and corruption in the border crossings." She added, "The first proposal is that the sale of the dollar in the currency auction comes in order to cover merchants and companies' imports of goods and commodities, so the amounts of the customs tariff are deducted directly because each request submitted by a merchant or company is supported by the type and quantity of the material," noting that "the tariff deduction will eliminate problems There are large outlets, some of which are under the control of parties and personalities, and at the same time, currency dealers prevented us from depleting hard currency. " She pointed out that "the second proposal is to activate the paper that we presented to the government of Adel Abdul Mahdi by imposing a tax on every dollar exiting Iraq at a rate of 8%, which contributes to maximizing the resources of the Iraqi treasury and this pushes to reduce the amount of the dollar that is being withdrawn by currency dealers abroad." .

[rvmydinar]

On 1/27/2021 at 10:01 AM, Dinarrock said:

Personally I am hoping for a rate of at least $1.17!!!

If you want the rate at least 1 iqd=1.17 usd  then 1 usd should be equal to=0.85 iqd. And right now, the official cbi rate is 1 usd=1460 iqd. Is it possible the rate move upward from 1 usd=1460 iqd to 1 usd=0.85 iqd ( it means the rate below 1:1 iqd)?

[rvmydinar]

32 minutes ago, screwball said:

Not exactly dinar heads to central banks gets exchanged at what rate of the country then could be used to purchase oil or:oil credits 

So you were saying that after dinar investors exchange dinar for dollars in the us, then the dinar will be put back to us reserves. After that , the us reserves will negotiate with iraq reserves to return their dinars back to cbi by exchanging old dinar for oil , let's say just assume if 1 iqd=3.3 usd, then 17 iqd=1 barrel of oil ( just assume 1 barrel of oil=56.1 usd ). 

[screwball]

8 hours ago, rvmydinar said:

So you were saying that after dinar investors exchange dinar for dollars in the us, then the dinar will be put back to us reserves. After that , the us reserves will negotiate with iraq reserves to return their dinars back to cbi by exchanging old dinar for oil , let's say just assume if 1 iqd=3.3 usd, then 17 iqd=1 barrel of oil ( just assume 1 barrel of oil=56.1 usd ). 

Let’s behonest most central banks aim to increase foreign currency reserves this would include dinar for the us and and US dollars for Iraq..,if trump has done a secert trade deal

to negotiate a set rate for dinar v usd then it’s beneficila to trade and buy and sell oil and gas in their currencies?

[screwball]

This would mean that Iraq would increase usd reserves and us increase dinar reserves!