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Mr. Sadr tweets on the budget and warns


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3 hours ago, GreedyDinar07 said:

Yea so they can steal more money from the auctions.....Whatever! The politicians wants the CBI to return the exchange rate to 1130, this let me further know they don't give a damn about their Country or people or else they would want the dinar to revalue! It is not going to happen and thank goodness the CBI is separate from the  pigs in the GOI!! 

You have to learn to read between the lines... They aren't going to come right out and tell you that they are going to change your life forever!!!  Seriously Greedy!  You fluctuate moods more than I did when I was pregnant!  Oh, just so you know.... it was regularly!  Cheer up!  You/we/us/they are closer now than EVER!!! Look for the rainbow... not the rain!  

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Luvalife, more than when you were pregnant!! LOl! I can't have babies so I have to get it under control I guess! At the end of the day I believe we are close even if it is sometime after the election. JMO. I have been around for a while and I have heard it all so I get a lil antsy sometimes!! When I look at all of the things that are adding up it makes sense that we are close. I hope they see that way as well because I have been hearing we are "CLOSE" and "SOON" for the last 14 years!! Go RV!! Go Iraq!! 

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1 hour ago, luvalife said:

Greedy!  You fluctuate moods more than I did when I was pregnant!


What The ‘Fluct’ ? Greedy’s Mood Changes So Often - That He’s Probably Having Twins ! :o 


 

Let’s Bro ...

 

image.gif.2737893191565ceba943605adaf21a36.gif
 

:D  :D  :D 
 

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The exchange rate ... a warning against a repeat of the "days of siege" and an expert responds to expectations that it will exceed 1500 dinars

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1,516 Sweeteners 04/06/2021 19:06 


Baghdad today - Baghdad  

 

The economic expert, Abdul Rahman Al-Mashhadani, commented on the rise of the dollar exchange rate today to higher numbers than in previous days, while he warned of a situation that Iraq went through in 1996 during the days of the economic blockade in the event that the current exchange rate was returned to the old figure of 1200 dinars.

The economist answered a question about the exchange rate exceeding the 1470 dinars barrier in some provinces today, and about the possibility of it continuing to rise above the 1500, saying: "The government has no intention to adjust the exchange rate, because it wants to float the dollar." The government is able to set the price rhythm, as it did in 2016. "

Al-Mashhadani added in response to current expectations that "the exchange rate may reach 1530-1550 at the end of this year, and if the same measures continue for an additional year, the exchange rate will change to 1600-1700 dinars." 

The economic expert pointed out that "the change in the exchange rate from 1200 to 1450 created confusion in the markets, but its return to its previous position will create bigger problems similar to what happened in 1996, especially with the presence of debts and dues from merchants and companies, which were settled according to the current exchange rate of the dollar at 1450 dinars." ". 

The average exchange rate of the dollar against the Iraqi dinar rose in evening trading, Tuesday, April 6, 2021, in the main stock market and markets. 

The exchange rates in exchange offices and local markets in the capital, Baghdad, were recorded at about 1,465 dinars for purchase, and 1,475 dinars for sale. 

The average price of the dollar in Iraq is calculated according to the average selling price in the Al-Kifah Stock Exchange (Baghdad Stock Exchange). 

The Iraqi parliament approved the draft budget for 2021, and the project included fixing the exchange rate of the US dollar at 1450 dinars per US dollar. 

The passage of the fiscal budget for 2021 without changing the exchange rate of the dollar caused a rise in the price of the green currency in the local markets, and they expected the price of the dollar to rise further in the coming days.

LINK

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Al-Fath: The high exchange rate of the dollar is borne by the government alone

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17:34 - 04/06/2021
 
 

Al-Fateh Alliance member, MP, Ahmed Al-Kinani, carried on Tuesday the federal government the consequences that would be attached to its decision on the exchange rates of the dollar.

"The file of high exchange rates at home and its impact on the market and the lives of citizens is borne by the government and the Central Bank,

and therefore it is responsible to the people for its decision and the results that will come to it in the coming days," Al-Kinani said.

He added, "All political forces today are required to assume responsibility and not be satisfied with exchanging blame and reprimanding the other party, as the issue has come to affect the interests of the Iraqi citizen in the first place."

He pointed out that "cooperation should be the master of the situation between the legislative and executive authorities in order to end the crisis and to seek radical solutions to economic problems."

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Economist: The government does not need external borrowing  

 
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08:42 - 06/04/2021
 

The economic expert, Wissam Al-Tamimi, stressed that the government does not need external borrowing, pointing out that the rise in oil prices to more than 62 dollars a barrel will spare Iraq resorting to borrowing.

Al-Tamimi said to "the information", that "the government has made double profits through the rise in the exchange rate of the dollar in the local markets, as well as the recovery of oil prices, reaching the barrier of $ 62 a barrel."

He added that "the government intends to borrow 2 billion dollars from abroad, while this figure can be achieved from the difference in the price of the dollar and oil sales."

And that "Iraq can increase the export capacity over the specified amount by asking OPEC to do so, and agreeing with the exporting countries to increase exports in small quantities, as well as making use of oil stocks to contract with major international companies without paying any sums to them, and to rely entirely on oil as a global currency." 

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9 hours ago, DinarThug said:

The governor of the Central Bank discusses with the Secretary-General of the United Nations the financial and economic conditions
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6th April, 2021

 

The Governor of the Central Bank, Mustafa Ghaleb, discussed with the Secretary-General of the United Nations in Iraq, Jeanine Hennes Plasschaert, the financial and economic conditions in Iraq

A press release issued by the Central Bank, received by "Al-Ektissad News", said, "Today, Tuesday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb, received the Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Hennis Blasshardt, and discussed during the meeting the financial and economic conditions that Iraq is going through and the measures that lead to it.
The management of this bank is part of the reform plan for the Iraqi banking sector

For her part, the United Nations representative, Mrs. Blashart, affirmed support system">support for the independence of the Central Bank of Iraq, like other international central banks, and its importance during the current and future period

##########

This is what the central bank governor discussed with Plasschaert  LINK

 

LINK

Representative preferences to host the central bank governor next week

 
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12:41 - 06/04/2021
 
 

Al-Fateh Alliance MP Mukhtar Al-Mousawi, on Tuesday, suggested hosting Central Bank Governor Mustafa Ghaleb during parliamentary sessions next week.

"There are parliamentary calls to host the Governor of the Central Bank, Mustafa Ghaleb, in the House of Representatives to discuss the dollar exchange rate," Moussawi told "the information".

He added that "the government's and the central bank's insistence on keeping the dollar exchange rate will reflect negatively on the poor," noting that "hosting may turn into an interrogation."

The Sadikoun bloc confirmed, yesterday, Monday, that it will be at the forefront of confronting government measures in the event that the exchange rates are no longer considered, as it caused the disclosure of the exorbitant price tag and the exhaustion of citizens. 
 

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13 minutes ago, DinarThug said:

 

LINK

Representative preferences to host the central bank governor next week

 
6546-696x435.jpg
 
 
12:41 - 06/04/2021
 
 

Al-Fateh Alliance MP Mukhtar Al-Mousawi, on Tuesday, suggested hosting Central Bank Governor Mustafa Ghaleb during parliamentary sessions next week.

"There are parliamentary calls to host the Governor of the Central Bank, Mustafa Ghaleb, in the House of Representatives to discuss the dollar exchange rate," Moussawi told "the information".

He added that "the government's and the central bank's insistence on keeping the dollar exchange rate will reflect negatively on the poor," noting that "hosting may turn into an interrogation."

The Sadikoun bloc confirmed, yesterday, Monday, that it will be at the forefront of confronting government measures in the event that the exchange rates are no longer considered, as it caused the disclosure of the exorbitant price tag and the exhaustion of citizens. 
 

translating can we please remove the zeros you added to our currency

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Mazhar Muhammad Salih expects a supplementary budget


Wednesday 07 April 2021

alsabaah-73042.jpg

 

Baghdad: the pillar of the emirate

 

The federal budget for 2021 was recently approved after a difficult journey that lasted for several months, as its approval was described as positive despite the lack of investment allocations that touched 29 trillion dinars. 
 


Investment projects

The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, told Al-Sabah: “The new investment projects that have set their annual allocations in the current year’s budget, despite their limitations, constitute one of the basics for moving economic growth in the country, and investment expenditures will involve providing thousands of job opportunities and maximizing Business cycle and assets in the activity of the national market.
 
He added, "In the event that oil prices continue to recover for a reassuring period of time, additional new investment projects will be approved and, if time permits, a supplementary budget may be approved, thus extending to additional investment projects, and it is up to the budget strategy, estimates and financing alternatives." 

Saleh pointed out that, "At the same time, the risks of approving the budget involve two points; The first is that it is a year approaching the legislative elections and with the absence of a general budget whose expenditures account for nearly 50 percent of the gross domestic product, meaning there is ambiguity in the country's financial planning and the results of an unknown legislative competition that will send strong signals of uncertainty to decision-makers in the private sector.
 

Operational programs
 
He added that "the delay in approving the budget creates an atmosphere of conservatism in the activity of the private sector, which adds severe lethargic effects on economic growth, and the second point is that the country is deprived of investment activity and important operational programs and their effects on the movement of the economy and the directions of managing the national economy, and the country is in dire need of it to absorb the opportunities Surplus work in the labor market, in light of growing unemployment rates of more than one decimal place and poverty levels, also requires maximizing the spending cycle and moving economic activity that leads to more job opportunities.

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Return the frozen funds and diversify the environment of the Iraqi economy

 

Wednesday 07 April 2021
 

alsabaah-73040.jpg

Baghdad: Shukran Al-Fatlawi

 
 
Member of the Administrative Board of the Economists Association Dr. Ikram Abdul Aziz, hinted that the state’s intention to retrieve frozen funds is a positive step towards employing these funds in paths that contribute to the diversification of the Iraqi economic environment.

In her speech to Al-Sabah, Al-Aqeel emphasized, "The necessity for there to be a trend to support structural investment projects that simulate progress in the same way as other countries of the world and in various fields, including employing manpower and using environmentally friendly technology."


 

Productive sectors

She pointed to "the importance of dismantling the unilateral ring of the oil sector and achieving real revenues through activating the various productive sectors at various levels, and using part of them to develop the industrial infrastructure in particular, as well as the agricultural and service sectors."
 
According to experts, the Iraqi government is seeking to retrieve the frozen Iraqi funds abroad during the time of the former regime, especially the funds frozen by international sanctions, as well as the money that escaped due to corruption, but these efforts collide with various regulatory and legal obstacles.
 
 
Frozen money
 
Iraqi Foreign Minister Fuad Hussein, and in a recent press conference with Foreign Minister Vice President of the Swiss Confederation Ignazio Cassis, who is visiting Iraq: “We discussed the issue of Iraqi funds frozen in Swiss banks,” referring to the signing of a memorandum of understanding between the two countries that includes financial and humanitarian issues.
For his part, Swiss Minister Cassis said, "His visit to Baghdad was part of a tour that also includes Jordan and Lebanon, with the same goals aimed at strengthening the correct relations between our countries and restoring stability to the region."
 
 
cooperation
 
In another meeting, Prime Minister Mustafa Al-Kazemi discussed with the Vice President of the Swiss Confederation the steps to reopening the Swiss embassy in Baghdad, ways of joint cooperation and bilateral relations between Iraq and Switzerland and prospects for strengthening them in a way that serves common interests, according to a statement by the media office of the Prime Minister.
During the meeting, they discussed ways to enhance economic development and foreign investment in Iraq, and Switzerland's support for the steps taken by the Iraqi government in this aspect, which confirms a wider participation of the private sector and creates investment opportunities and promising jobs in the Iraqi labor market, according to the Media Office of the Prime Minister.

It is noteworthy that the smuggled funds, according to deputies, amount to about (500) billion dollars, and that these funds work in the economies of countries smuggled to them and have great financial returns.

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Plans to stimulate the economy

 

Wednesday 07 April 2021

Dr. Saad Al-Taie



 stimulus plans are used during the economic crises that the economic system is exposed to in periods of recession and decline in economic performance in order to restore recovery as possible to the economic life that was affected by the crisis that it was exposed to.


In our country, the current economic crisis that we are experiencing due to the Corona pandemic and its global impacts, has negatively affected all economic facilities in our country, due to the excessive dependence of our economies on a single resource. 
The national economy has been subjected to a recession due to the lack of financial flows in the commercial markets, the stopping or slowing of most economic business and the lack of investments due to the lack of investors ’willingness to take risks in establishing or continuing various economic projects as a result of hesitation and fear of the next phase, due to the uncertainty of crude oil prices.
Globally, all of this has negatively affected our economic reality in general.

This requires the competent authorities to work on developing scientific economic plans aimed at stimulating and reviving our national economy and moving its wheel instead of the slowdown it is currently witnessing. 
These plans can be short-term, medium and long-term, and they can also be directed to leading economic sectors or certain economic sub-sectors that, through their support and revitalization, can stimulate the economic sectors with the result at a later time. 
It can work to provide soft loans for the establishment of various economic projects, whether industrial, agricultural, urban, service and other types of other projects in order to sustain their work in case they are forced to close as a result of the current economic conditions. 
Which must be revived by support plans.

It is also possible, by encouraging local and foreign investments by providing incentives and facilities to encourage them, either through legislation or through simplified administrative and technical procedures before them, work to attract more local and foreign investors in various types of economic projects through which the current economic situation can be revived, which is What is poured into the plans to stimulate our national economy in order to pass it to the stage of normalcy and overcome the consequences of the current economic crisis.

It is also possible to encourage citizens to deposit their money in banks instead of hoarding it with them by providing them with appropriate incentives, and then employing it in various economic projects instead of disrupting this huge cash mass stored in them as a result of their non-risk and lack of confidence in establishing or participating in various economic projects.

The stimulus plans for the Iraqi economy in the current circumstances are of the utmost importance in order to get rid of the negative consequences of the economic crisis and to succeed in managing the economic conditions in an optimal manner, in a way that achieves the most positive results.

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Deputy reveals the "scenes" of the meeting to raise the exchange rate of the dollar
 
Tuesday 6 April 2021 19:28
 
 

[[article_title_text]]

 

Representative of the Saeron Alliance, Ghayeb Al-Amiri
 
(Alsumaria News) Baghdad - 
 
The representative of the Saeron Alliance, Ghayeb Al-Amiri, revealed today, Tuesday, the "scenes" of the meeting that resulted in the decision to raise the exchange rate of the dollar against the dinar.
 
Al-Amiri said in an interview with Al-Sumaria News, "During the stages of the federal budget legislation, some tried, and within the context of electoral auctions and advertisements, to accuse others of supporting the survival of the exchange rate, and we clearly indicated that we are with every decision in the interest of the Iraqi people, but the exchange rate decision within the monetary policy is from The powers of the Central Bank and the financial policy are among the powers of the Ministry of Finance, and Parliament has nothing to do with this matter, "indicating that" after the vote on the budget, we wanted to focus on serving the citizen and applying the budget in a manner that achieves the aspirations of the street, but some continued to throw charges in the early electoral propaganda series. "
 
Al-Amiri added, "As a matter of legal and moral responsibility before the Iraqi people, we will reveal the secrets and scenes of the meeting that was held in the presence of the prime minister, the minister of finance, the governor of the central bank and heads of political forces to discuss the issue of the financial crisis, which resulted in the decision to raise the price of the dollar against the dinar," pointing out that "the proposal was made." 
 
It was initially submitted by the prime minister to raise the exchange rate to 1600 dinars against the dollar and not 1450 dinars, but after continuous discussions, it was agreed at that time that the amount would be 1450 dinars. "
 
He continued, "All the blocs and parties present at the meeting, in addition to the prime minister, the minister of finance and the governor of the central bank, all agreed on the new price, with the exception of the head of the political body of the Sadrist movement, Nassar al-Rubaie, who developed a two-stage proposal to deal with the situation under the insistence of the executive authorities to raise the price, and it was the last option.
It is to raise the price, "explaining that" the proposal included that the price be gradually raised in the first stage of 1300 dinars, accompanied by at the same time a treatment of the ration card issue and an increase in social welfare salaries. "
 
Al-Amiri stressed, "The truth about what happened at the meeting was not announced at the time for the public interest, but there were many political bids that made us compelled to clarify the truth to the Iraqi people."

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2 hours ago, screwball said:

when does parliament sit again 10th? lets hope for oil law next few days


Yep ! :o 

 

Pending How Many New Holidays That They Schedule Between Now And Then ...

 

:D  :D  :D 

 

LINK

After voting on the budget .. Parliament raises its session to the 10th of next month

image.jpeg.972abab085e10096ec37d17e29c46f23.jpeg
 

31st March, 2021


The House of Representatives raised, on Wednesday, its session to the tenth of next month after voting on the budget law in general.

A statement by the Media Department of the House of Representatives, which Mawazine News received a copy of, stated that "Parliament has raised its session to 4/10/2021."

The House of Representatives was the Federal Budget Law for the Republic of Iraq for the year 2021 as a whole, and it also voted on the reasons for the necessity of the Federal Budget Law of the Republic of Iraq for the year 2021."

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2 hours ago, DinarThug said:


Yep ! :o 

 

Pending How Many New Holidays That They Schedule Between Now And Then ...

 

:D  :D  :D 

 

LINK

After voting on the budget .. Parliament raises its session to the 10th of next month

image.jpeg.972abab085e10096ec37d17e29c46f23.jpeg
 

31st March, 2021


The House of Representatives raised, on Wednesday, its session to the tenth of next month after voting on the budget law in general.

A statement by the Media Department of the House of Representatives, which Mawazine News received a copy of, stated that "Parliament has raised its session to 4/10/2021."

The House of Representatives was the Federal Budget Law for the Republic of Iraq for the year 2021 as a whole, and it also voted on the reasons for the necessity of the Federal Budget Law of the Republic of Iraq for the year 2021."

Thanks for all of your posts...your efforts are very appreciated!    CL

 

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8 hours ago, screwball said:

yep.....get ready

Which life time??  Ramadam starts , I believe I’ve heard a date of April 15, 2021?? That is less than two weeks away. Then right after that big Holiday they have another minor holiday! That puts us at our major holiday 4th of July! Then they come back and talk again telling us how close we are at raising the dinar then football season starts! You  get the picture, this seems like the schedule, I’ve been on for the last 14 years! Go RV !!! In this lifetime of course!! JMHO 🤠

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49 minutes ago, Artitech said:

Which life time??  Ramadam starts , I believe I’ve heard a date of April 15, 2021?? That is less than two weeks away. Then right after that big Holiday they have another minor holiday! That puts us at our major holiday 4th of July! Then they come back and talk again telling us how close we are at raising the dinar then football season starts! You  get the picture, this seems like the schedule, I’ve been on for the last 14 years! Go RV !!! In this lifetime of course!! JMHO 🤠

Spot On!!

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I agree with you Retiredofficer, I have been around the same amount of time and I understand your frustration!! I don't think anything will happen until after the elections when Al-Khedemi is the Official PM. Also, the New CBI Building is scheduled to be completed by 2022, so I don't believe anything will happen until the end of this year or the beginning of next year. JMO...If nothing happens by then I am going to totally ignore Iraq until I see something on the news about their people celebrating in the streets! I am hopeful because the IMF, World Bank, G7 etc are involved this time around. Other than that I would'nt be here. I was the same way back in the day like these new guys are now. I am gonna remain hopeful until then1 Go Iraq Go RV!! 

 

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So we’re now in the let’s talk and drag this through the weeds for well who knows how long ???

Only 18 years to get this far.... looking good for “ in the near future “

C’mon Iraq enough is enough..... well maybe not. These folks will push the envelope all the way to the sticky bit - then give it a damn good nudge right into a crisis.

Guess we’ll see. 

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IMPLEMENTATION OF FEDERAL BUDGET IS CRITICAL, SAYS KRG PM BARZANI

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Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani speaks during a press conference on April 7, 2021 (NRT Digital Media/Screenshot)

5 Hours ago 

194 View

https://nrttv.com/En/News.aspx?id=27310&MapID=1

SULAIMANI — Kurdistan Regional Government (KRG) Prime Minister Masrour Barzani on Wednesday (April 7) hailed the passage of the 2021 Federal Budget Law, but said implementation will be key.

During a press conference, Barzani said that the KRG is waiting for the federal government to fulfill its obligations under the new law, in particular by sending the Region’s budget share for the first three months of the year.

He urged all relevant ministries in Erbil to prepare to meet the KRG’s own responsibilities.

“This budget was an accommodation, it doesn’t address all the hopes of either party,” Barzani said in a tweet, adding that it will not “address all of our disputes, but it is a strong basis to tackle the remaining issues.”

The prime minister said that the recent agreement and the obligation to repay pre-existing debt will put pressure on the public treasury, but that his government would prioritize paying public sector salaries.

He added that the KRG had been waiting for the federal budget to pass, but will transmit its own budget to the Kurdistan Parliament soon. The latter has not passed a budget since 2013.

(NRT Digital Media)

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