MINISTRY OF FINANCE FINALLY PUBLISHES INSTRUCTIONS FOR IMPLEMENTATION OF FED FINANCIAL BUDGET LAW, 16 AUGUST

 MINISTRY OF FINANCE FINALLY PUBLISHES INSTRUCTIONS FOR THE IMPLEMENTATION OF THE FEDERAL FINANCIAL BUDGET LAW

{Economic: Efrat News} The Ministry of Finance has published instructions for the implementation of the Federal Financial Budget Law, calling on “all ministries, governorates and unrelated entities to review the ministry to receive instructions.”

A statement by the Ministry, a copy of which was received by {Euphrates News}, said: “In view of the approval and publication of the Federal Budget Law of the Republic of Iraq No. (13) for the fiscal years (2023, 201224 and 2025) in the official Iraqi facts sheet issued in June 2013 with number 4726, the Ministry of Finance invites all ministries, governorates, bodies and entities not associated with the Ministry of Attendance to the headquarters of the Ministry of Finance / Budget Department Budget Preparation Section for the purpose of receiving a copy of the instructions for the implementation of the general budget and the instructions for implementing the planning budget for the public sector and self-funded bodies and companies.”

(I know the funding to complete the changeover of the currency from the 3 zero notes to the lower denominations (project to delete the zeros) is in the budget year for 2023. Will they do it?)

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Economist: Washington imposes its authority on Iraqi oil revenues

8-15-2023

Economist - Washington imposes its authority on Iraqi oil revenuesInformation / Baghdad…

Economic affairs researcher Muhammad Al-Saadi explained, on Tuesday, the extent to which it is possible to obtain oil revenues from importing countries directly without placing these funds with the US Federal Bank.

Al-Saadi told Al-Maalouma that “China, India and other Asian countries import Iraqi oil in large quantities, but Iraq receives the revenues through the US Federal Bank, which makes Washington an authority over those revenues.”

He added, “The dollar, as an American currency prohibited in some countries, Iraq can benefit from such a procedure by selling oil in exchange for goods, goods and raw materials needed by the Iraqi industry, or introducing companies from those countries and engaging them in the field of construction, construction and project implementation.”

And he indicated that “the continuation of selling oil in exchange for obtaining dollars may not be a good idea, as it is possible to obtain projects, goods and goods instead of oil revenues in dollar currency.”

He pointed out that “Iraq has large reserves of hard currency with the US Federal Bank.”

almaalomah.me

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