Vietnam enhances positions in global value chain , 21 OCT

 Vietnam enhances positions in global value chain | Business | Vietnam

The attraction of large foreign direct investment (FDI) inflows from the US and Europe, especially into industries with high added value such as manufacturing, technology and pharmaceuticals, is a positive signal about Vietnam’s economic development and international cooperation as well as the country's efforts in improving its position on the global value chain, according to Savills Vietnam experts. 

Statistics from Savills Vietnam, a property consultancy firm, showed that there were 2,508 FDI projects of EU countries in Vietnam as of June, with total registered capital of 28.91 billion USD. The figure represents a significant increase compared to 18 billion USD in 1,623 projects in 2016.  

The Q3 Business Confidence Index (BCI) report of the European Chamber of Commerce in Vietnam (EuroCham) released in mid-October showed that more than two years after its implementation, the European Union -Vietnam Free Trade Agreement (EVFTA) is continuing to have a positive impact on Vietnam's business landscape. More than 60% of businesses think the deal is beneficial, with the top benefit being tax cuts, followed by improved competitiveness, reduced trade barriers, and expanded partnerships with local firms and increased access to the Vietnamese market. 

As for the US market, the recent visit of President Joe Biden along with upgrading their comprehensive cooperative relationship, the interest of investors in this market is expected to increase in the coming time.

According to John Campbell, manager of Industrial Services at Savills Vietnam, although this event only took place about a month ago and will take time to see clear impacts, many US investors have shown their interest in projects in Vietnam.

A Savills Vietnam's research pointed out that in 2016-2022 period, a sudden increase in the export of electronics and phone reflects an improvement in Vietnam's position in the global value chain. Specifically, in the period, the export value of electronic, phones and machinery products increased by 193%, 68% and 336% respectively. 

Vietnam is focusing on attracting high value-added investments by improving its workforce and infrastructure while creating favourable conditions for small and medium-sized enterprises and support industries, Campbell said, adding that these efforts have been recognised by many large investors and Vietnam have been included in their future development plans.  

Vietnam's BCI in the third quarter of 2023 has increased to 45.1% from 43.5% in the second quarter of this year, according to EuroCham.

The country's global investment attractiveness remains strong, with 63% of surveyed businesses ranking the country in the top 10 FDI destinations, it said. In particular, 31% ranked Vietnam in the top three investment locations.

EuroCham Chairman Gabor Fluit, however, said that while promising Q3 GDP and FDI growth is seen, issues persist - especially with exports and real estate.

He went on to say that addressing administrative burdens, unclear regulations, and permitting hurdles is crucial to achieving progress.

Campbell suggested that to attract world-leading large companies, it is necessary for industrial park developers in Vietnam to focus on value-added services and incentives in addition to price and rentals such as market entry services, human resources and legal support, management services, sustainability initiatives and working with professional industrial real estate agencies.

https://en.vietnamplus.vn/vietnam-enhances-positions-in-global-value-chain/269943.vnp

For the first time in 16 years… US Treasury bonds rise 5%, 21 OCT

 For the first time in 16 years… US Treasury bonds rise 5%

On Friday, there was a brief moment when the dollar reached the 150 level against the yen, which is closely monitored. This was due to the rise in 10-year US Treasury yields towards 5% after Federal Reserve Chairman Jerome Powell hinted that there could be further interest rate hikes.

The yield on the benchmark 10-year Treasury note rose 30 basis points this week, marking its biggest weekly increase since April 2022.

The conflict in the Middle East triggered a flight to safety among investors, with gold and the Swiss franc being the preferred safe-haven assets, while trading in Treasuries was dominated by interest rate expectations.

Despite the rise in bond yields, the dollar did not see a significant improvement this week. It only made slight gains, hovering around 150 yen. This mark is seen as a potential level where the Japanese Ministry of Finance may take action to prop up the yen.

Speculators have increased their bullish positions in the dollar against other G10 currencies to the highest level in a year this month.

The USD/JPY pair settled at 149.870 on Friday, after rising to 150.00, and typically follows US 10-year bond yields.

Traders expect no change in interest rates at the next Fed policy meeting.

According to a recent Reuters poll, the likelihood of an interest rate cut in the first half of next year is diminishing quickly.

The pound dropped by 0.37% to two-week lows following a series of data indicating a collapse in British consumer confidence in October after weak retail sales the previous month.

The British pound dropped 0.2% to $1.2116, reaching its two-week low levels.

The euro stabilized at $1.0572, while the Swiss franc, which received demand from safe haven flows, is heading for its largest weekly gain against the dollar in three months, after rising one percent.

The Swiss franc has reached its highest level against the euro since 2015, when the Swiss National Bank removed the peg between the two currencies. As of the latest trading, the Swiss franc settled at 0.94345 against the euro on Friday.

In the external market, the Chinese yuan settled at 7.3361 to the dollar, as China kept its key lending interest rates unchanged at the monthly fixation on Friday, which was in line with market expectations.

Al-Abadi Hosts An Elite Group Of Economists And Financial Affairs Specialists, 20 OCT

 Al-Abadi Hosts An Elite Group Of Economists And Financial Affairs Specialists, 20 OCT

Thursday 19, October 2023 00:31 | Economical     Number of readings: 506  Baghdad / NINA / The head of the Victory Coalition, Haider Al-Abadi, hosted an  elite group of economists and financial affairs specialists, as part of his  series of weekly meetings with the elites of Iraqi society.

 The meeting began, according to a statement from Al-Abadi’s office, by reciting Surat Al-Fatihah for the souls of the martyrs of the Israeli violations in Gaza, and discussing the impact of this situation on the security, political and economic stability of the region.

 At the local level, Al-Abadi indicated that the  current financial situation is good and there is no problem, but spending must be controlled strategically.

It is not possible to open many large areas for spending without considering the possibility of a decline in oil prices, which are constantly losing value despite their rise for temporary reasons such as wars.

 Regarding the dollar exchange rate, Al-Abadi described the platform’s work as correct, but he added:

 “There are unclear and bureaucratic procedures followed by official institutions and the market alike, and this  confuses financial movement and increases the currency differential, which pushes to the black market and raises the requirements of living,  especially with… The presence of large amounts of money from corruption sources, which constitutes an obstacle for the middle and poor classes regarding real estate prices.”

For their part, the attendees discussed economic and financial issues from many aspects, the

first of which was what they described as legislative failures and the delay in paying attention to the relevant laws, leading to the importance of financial management infrastructure that avoids deficit and debt.

While they warned of the financial demands of some political parties on investors;  Because this hinders investment, especially by large companies that Iraq needs.

They pointed out the need to  activate the private sector, develop a special strategy for oil and energy projects, and create a sovereign fund for all of Iraq. /End 9

https://ninanews.com/Website/News/Details?key=1084660

"RV UPDATE" BY RAYREN98, KAPERONI & BRUCE, 20 OCT

 RayRen98 

  [via Babysmom] 

  FRIDAY UPDATES "LOOKS LIKE THE " WINDOW" JUST GOT SHORTER...AND SHORTER AND SHORTER!!! TIME WILL DEFINITELY TELL!!!" ..."HAVEN'T HEARD FROM BANKS YET (THEY'RE STILL QUIET) BUT THREE LETTER FOLKS ARE EXCITED BOUT SUMPTIM" $$$.

Kaperoni 

  Yes Iraq is a fairly wealthy country.

 In fact, probably the 9th country in the world in terms of natural resources and wealth.  But there can never be a significant RV of the Iraqi dinar with that much currency in circulation.

Bruce (The Big Call)

[via WiserNow]

What we got in report today was all the rates are extremely good. And we know that the dinar came back up on the Forex yesterday and came back up on the streets for trading on forex and on the bank screen today.  The rates are very good.

BRUCE'S BIG CALL, 20 OCT

 Bruce’s Big Call Dinar Intel Thursday Night 10-19-23   REPLAY LINK   Intel Begins   1:07:07

https://www.freeconferencecallhd.com/wall/recorded_audio?audioRecordingUrl=https%3A%2F%2Frs0002.freeconferencecall.com%2Fstorage%2FsgetHD%2FHsCgW%2FHwOx

Welcome everybody to the big call today. It is Thursday, October 19th and you're listening to the big call. Thanks everybody, wherever you are around the globe for tuning in, hopefully you're hearing this call in your own language. All right, let's see if we can hone in on the Intel that we received primarily yesterday, which was Wednesday, before tonight's big call tonight. We got a little confirmation of it today, but it's very good. Now - This is what was so cool. You guys may remember those of you who have been around a while and have been in this like I have for 19 years. Remember that we heard that once the currency sellers stopped being able to sell. It was our turn. I remember that from a long time ago. Prior to the Big Call - which is 12 years ago. I think what is remarkable about this, we have three confirmations so far from currency sellers, that they have been advised that they are no longer to sell these currencies that we have - which is dinar - Dong, rupiah - zim - the Afghani, there's a bunch of others that are going up in value. Okay. They've been told that they are no longer able to sell those after 11:59pm tomorrow night - Friday night, Central Daylight Time, Central time. 11:59pm almost midnight, one minute to midnight. They've got until that time. Then all those currency sales will be shut off. That is super significant for us. We tie that to information that was from one of our redemption centers. That said that the optimal time may not be the exact time but as the optimal time according to the redemption center. that would be notified would be Saturday, early morning. Day and a half from now - Saturday, early morning. So here's the other part of it. This is gonna be short intel tonight . There's a major conference call. I'm going to call it a video conference call - between treasury - Wells Fargo - redemption center leaders that’s a head person in charge of each redemption center, throughout the United States and HSBC redemption centers locations around the world, global - HSBC, and Wells Fargo leaders and we know several of them - and so that is to take place tomorrow between one and 3pm Eastern Daylight Time Tomorrow. I'll say what is the purpose of the call? This is what I understand is one of the things they want to discuss. Is - Is redemption staff willing to come to work and be able to staff fully on Sunday. Are they willing to come in and staff the redemption centers on Sunday? I think the answer is yes. but we'll have to see what the answer is. If the answer is yes. and that's going to be communicated through the leaders, the redemption centers to the to the person that's persons that are directing this call tomorrow. then it looks very good for us to get a notification Saturday morning . And if we receive a Saturday morning, we would most likely be able to set appointments and possibly start Saturday afternoon or evening. Well, let's say they don't have an overwhelming majority that wants to be open on Sunday, and then we are theoretically deferred from Saturday morning to Monday morning for our notifications - our 800 numbers. And then we would theoretically set appointments Monday and start Monday afternoon or evening - but based on the fact that a redemption center staff has been waiting, just like we have to get this party started -- I have a feeling they will probably vote to be open on Sunday. If that occurs, we would start Saturday and go right through Sunday, Monday, Tuesday, Blah Blah Blah and get that thing going and get our exchanges done. So and the redemption of zim So it may come down to that particular question – they will probably discuss some other things as well. When it comes to the currencies that we know about, things are moving along nicely with those. They're trading upward. We know that the Dinar is continuing to do well. Dong has been up and down. And so the Zim is trading remarkably above its par value, which is interesting. And it's really good to see these things taking place. I’m thinking whether or not there's anything else that's pertinent to us, right now other than that, that seems to be the biggest revelation for us is our start time. Now realize this guys. We've been close before and I've done my very best to give you what I'm getting, which is exactly what I've told you. I'm not calling it but it's looking very good. If the information I'm getting holds out and is true and holds up, Then we should be in really good shape here. We know that they wanted to get this done prior to the end of this month. We know that - well today's the 19th - Saturday the 21st - and we also know that the Brunson case - We heard this a while back this isn't today's news, but it was a little while ago that was to come out a week before the end of the month. Okay, and that would be somewhere around the 24th which I believe is going to be well let's see what ever the 24th is next Tuesday - I think so. So well whatever my calendar is little scrambled in my mind right now. So are we looking for that result? Yes. Are we looking for it a week before the end of the month? That's what I have heard - Let's look forward to receiving that. A lot of what you're seeing on main stream media that looks like it's going on in Congress is really not what's happening. Not even I can't even tell you what is really happening. But it's nothing like what's being shown on TV. So I would suggest just let that go There are some things that have been out there that talk about the US DC digital coin - digital currency USDC tokens, that kind of thing. That's deep state it's not real, That's not gonna happen - don’t buy it - And there's absolutely no reason if you have asset backed currency which we do and if you have the USN - which we will have - at the redemption Center, our new currency will have some that will take it home. We don't need any of that noise. We don’t need any tokens or anything else or a virtual wallet or any of that. We got we've got the real McCoy. The USN has gold back. and we'll have quantum financial accounts in the quantum financial system- the QFS We'll get a quantum card that we'll be using when we exchange to move funds from our quantum account into our primary or secondary Wells accounts. - and that quantum card can be tied to three different banks. Of course, Wells will be our primary starting out with and you might have one or two others that you may want to use and move funds from your quantum account into. I'm starting just with Wells. Let's see how they perform. Let's see how they do. By the way, there is a lot going on in the way of cleanup on aisles 4 / 5 / 6 through 13. All kinds of arrests are going on and have been continuously but they're really going hot and heavy over the last few days and should continue for quite a little while here. And I just don't want to get into specifics of it. but these are things that have to happen - things that need to take place and this is part of the reason we are still waiting for this to go. Okay, this is you know we need this clean-up to take place before we get started and it seems to be at the point where everything is ready to release. Like I said I was blown away. I found out yesterday that the sellers of currency - that's eBay, that eBay legitimate dealers / sellers. This is all bonafide sellers of all these currencies. they've been given the heads up that as of let's call it Friday, midnight, central time. - You know 11:59pm Game over, Game over, No more sales. And that's great news for us because I think that sets the bar for us to get started. And that's really all I wanted to say tonight. That's what I wanted to get out to you. Some of its going to be contingent on this large video conference call tomorrow two hour call - it might go longer. We'll see. Sometimes they do. and hopefully they're getting their ducks in a row for all that take place. But I just think we're in a really good place right now to get this party started. And I'm looking forward to it just as much as you guys are having been in this for 19 years and we've done the call for. 12 years. And you know, I just believe this our time. Let's hope it comes through and that's what we're gonna pray that this is the truth and that we do move forward with it. So we'll see what we just for tonight's call, but hopefully it was as good thing that they just had a really terrific job of getting this call out and simultaneously translating it. I don't know how many languages quite a few from the people in those countries. So I want to just say thank you everybody. This is looking good. I'm doing everything I can not to call it but I believe that we are you're that close. Let's see what happens in the next couple of days especially Saturday. We'll see what happens over the weekend. Thanks so much everybody. Let's pray the call out .

Iraqi Dinar🔥Initiative For CBI Of Iraq By Al Sudani Today 2023🔥iraqi din...

KRI Leaders Meet with Governor of Central Bank of Iraq, 20 OCT

KRI Leaders Meet with Governor of Central Bank of Iraq

President Nechirvan Barzani met with the Governor of the Central Bank of Iraq, Mr. Ali Mohsen al-Alaq, on October 19. The purpose of their meeting was to exchange views on the financial situation in Iraq, including the value of the Iraqi dinar, the Central Bank’s efforts to create financial and economic stability, and investment opportunities in Iraq.

President Nechirvan Barzani expressed his appreciation for the Central Bank of Iraq’s commendable efforts to maintain the dinar’s value in the face of mounting challenges. He also highlighted the priorities of the Central Bank in addressing the challenges and resolving cash and financial problems.

They both stressed the importance of cooperation and coordination by banks in Iraq and the Kurdistan Region with the Central Bank of Iraq.

The Governor also was received by Prime Minister Masrour Barzani on the same day. The focus of the meeting was to reinforce coordination between the Kurdistan Region, the federal government, and the central bank, with a particular emphasis on banking sector reforms, anti-money laundering efforts, and initiatives dedicated to bolstering economic stability.

Prime Minister Barzani referenced the “My Account” initiative and conveyed his appreciation for the collaborative support received from both the central bank’s Governor and Prime Minister Mohammed Shia’ Al Sudani. He emphasised that the progress of the Kurdistan Region signifies advancement for all of Iraq and serves the collective interests of the public.

There is mutual understanding regarding the significance of sustaining and advancing coordination and cooperation to promote economic development and ensure financial stability.

original article President

"RV UPDATE" BY WALKINGSTICK, 20 OCT

 Walkingstick

  Everything is there for the citizens concerning the monetary reform.  Everything is in its position.  Everything is ready to go.  They may be waiting for more Iraqi citizens to open bank accounts...

maybe they're waiting for more accounts to open up because that's how they're going to deliver the HCL. 

The CBI, they don't have to convince you or me that they're going to change the rate.  

They simply have to convey it to the citizens of Iraq. 

 It must be successful with the citizens.  It must not fail with the citizens of Iraq or the whole monetary reform will crumble...they are not trying to gain your trust...they are trying to gain the trust of the Iraqi citizens. 

Iraq invites Saudi Arabia and Jordan to attend Climate Change Conference in Baghdad, 20 OCT

Iraq invites Saudi Arabia and Jordan to attend Climate Change Conference in Baghdad, 20 OCT

Shafaq News / The Iraqi Minister of Environment, Nizar Ammedi, extended an official invitation to his Saudi counterpart, Abdul Rahman bin Abdul Hussain Al-Fadhli, to attend the Regional Climate Change Conference scheduled to take place in early 2024 in the capital, Baghdad.

This invitation was extended on the sidelines of the 9th Islamic World Environment Ministers' Conference held in Jeddah on 19/10/2023, as announced by the Iraqi Ministry of Environment on Friday.

The Ministry stated that during the meeting, both sides discussed the upcoming 28th Conference of the Parties on Climate Change, which is set to be held in Dubai at the end of November 2023. 

This conference provides an opportunity for all participating countries to produce results that enhance the resilience and sustainability of countries vulnerable to climate change, while also reiterating the commitment of advanced nations to support climate funds and provide necessary green technology for the transition to a more environmentally friendly economy. Additionally, it will clarify mechanisms for carbon investment.

Minister Ammedi extended the invitation to the Saudi Minister of Environment, Water, and Agriculture to attend the Regional Climate Change Conference in Baghdad, scheduled for the beginning of the next year. 

This conference will spotlight the regional agenda and strengthen cooperation with neighboring countries, discussing shared regional adaptation mechanisms and participating in promising environmental projects.

The statement also mentioned that the meeting addressed bilateral relations and several common topics.

Minister Ammedi also met with the Jordanian Minister of Environment, Muawiyah Al-Radaideh, on the sidelines of the 9th Islamic World Environment Ministers' Conference, which was organized by the Saudi Ministry of Environment, Water, and Agriculture in cooperation with the Islamic World Educational, Scientific, and Cultural Organization (ISESCO), under the theme "Towards Achieving Green Transformation in the Islamic World."

A separate statement from the Ministry mentioned that they discussed the most critical environmental challenges facing Iraq and the country's direction towards sustainable economics, while inviting all parties to invest in green initiatives in Iraq. 

A specific invitation was also extended to the Jordanian counterpart to attend the upcoming regional conference scheduled to be held in Baghdad in February. 

https://shafaq.com/en/Iraq-News/Iraq-invites-Saudi-Arabia-and-Jordan-to-attend-Climate-Change-Conference-in-Baghdad

Evening News with MarkZ. 10/20/2023

URGENT Worldwide Travel Alert for US Citizens Global

"RV UPDATE" BY MARKZ, 20 OCT

 MarkZ 

  [via PDK]  Question:  Rumor has it that currency dealers have been notified to stop selling currency after 11:59 CST. Any idea if this is accurate at all? 

 MarkZ:   I was told they would stop selling right before the RV…of course they can change the wording and maybe slow down if they think it’s really close.

 We were warned that we would see rough things before it happened and we are…

I firmly believe we are much closer than it appears. ...they could just pull the trigger at any time. 

 Question:  What do you still expect as the rate for the dong?  

MarkZ:  I still expect the low $2 range…$2.25ish. But, most of my sources say it could be more in the $3 dollar range …we shall see.

...They are making certain that everything is conducted in dinar from here on out.  For government function they can only use dinar…no other currencies... 

 Question: Do we need a new speaker of the house before Iraq can move forward?

 We are being told that the ball is in Iraq’s court now…so no… 

 Question: ...are we close...just asking for a friend? 

 MarkZ:  I think we are close…It certainly feels close.

Deputy: The development road project attracts the interest of 45 countries, 20 OCT

 Deputy: The development road project attracts the interest of 45 countries, 20 OCT

On Friday, Representative Baqir Al-Saadi confirmed that the development road project has attracted interest from 45 countries.

Al-Saadi mentioned in an interview that “The Development Road Project” is gaining more and more attention on a global level. According to studies, the project is expected to be economically successful and will focus on five significant areas in terms of changing the course of international transportation from Southeast Asia towards Europe.

According to the speaker, 45 countries have shown interest in the development road project. Some of these countries have even announced their intention to invest directly in the first phase by implementing various projects. The investments in this project will ultimately result in the creation of 10 new cities along the path of the road – from Basra all the way to the border with Turkey.

He highlighted that the project marks the beginning of a transformation in the region’s economic activity and the development of land routes that transport goods worth hundreds of billions of dollars annually.

The Iraqi government recently initiated a development project aimed at diversifying the economy and leveraging its strategic location on the international transport map.

Reinstatement? No LOP!💣Dong = $2.00 - $2.25!?🤔Iraq Dinar RV Updates | 10...

Zimbabwe’s Plan to Drop US Dollar in 2025 Seen as Non-Starter | Bloomberg (10/19/23), 20 OCT

 Zimbabwe’s Plan to Drop US Dollar in 2025 Seen as Non-Starter | Bloomberg (10/19/23)

The US dollar will remain the dominant currency in Zimbabwe even after the government’s December 2025 deadline to stop its use in the economy, the country’s largest independent asset manager said.

Imara Asset Management, which oversees more than $100 million, said the dollarization of the economy is actually accelerating since authorities curbed the local currency’s availability in July to preserve its value. Data from the national statistics agency showed 80% of all economic transactions in Zimbabwe are now done in the greenback, up from 75% earlier this year. 

“We are making the bold assumption that the US dollar will remain in place for a good while yet,” wrote John Legat and Shelton Sibanda, the company’s chief executive officer and chief investment officer, wrote in a quarterly note to clients Thursday. “The loss of the use of the US dollar would be a disaster for the economy.”

The Zimbabwe dollar has had a rocky history. The southern African nation abandoned it in 2009 when hyperinflation set in, and turned to the US dollar as the main medium of exchange. The currency was reintroduced in June 2019, outlawing all other legal tenders including the greenback. But again, that policy policy was reversed in April 2020 following the onset of the coronavirus pandemic. The government currently plans to allow the use of the US dollar until December 2025 and no more.

The uncertainty over the next currency regime has forced banks to be cautious on lending beyond 2025. That’s raised borrowing costs for businesses and individuals and also curtailed the availability of funding for long-term investments. Previously, US dollar loans from banks were paid off in the local currency, with lenders suffering losses from the foreign-exchange volatility.

Banks and citizens want a stable currency that stores the value of their money and a stable environment must be created in the medium to long-term, according to Lawrence Nyazema, president of the Bankers Association of Zimbabwe.

“There is nothing wrong with using a mono-currency,” as long as the local unit is stable, said Nyazema. “The use of multi-currencies beyond December 2025 imply that banks can continue lending in the same currencies beyond the period.”

Finance Minister Mthuli Ncube said last week that authorities were “mulling over” the next steps on the currency policy. “We will not do things in a manner that will jeopardize the growth that we have seen so far,” said Ncube. 

Zimbabwe’s President Emmerson Mnangagwa has fiercely defended a return to the sole use of the Zimbabwe dollar.

Meanwhile, Imara also cast doubt on the gold-backed digital money, the so-called “ZiG” launched earlier this month. It said there is no proof that the ZiG is either backed by any physical gold or can be converted into gold and is largely a “project” of the central bank. 

“Whether the ministry of finance also supports the concept is still relatively unknown,” the Harare-based brokerage said.

https://www.bloomberg.com/news/articles/2023-10-19/zimbabwe-s-plan-to-drop-us-dollar-in-2025-seen-as-non-starter

Eight Iraqi banks' assets surpass 13 Trillion IQD, signaling growth, 20 OCT

 Eight Iraqi banks' assets surpass 13 Trillion IQD, signaling growth, 20 OCT

Shafaq News / The "Future Iraq" Foundation, dedicated to economic affairs, reported on Friday that the assets of eight Iraqi private banks have surged over the past five years to more than 13 trillion IQD.

The eight banks are as follows: Mansour Bank, Commercial Region Bank, Ashur International Bank, Islamic South Bank, Iraqi Islamic Bank, Baghdad Bank, Development Bank, and Iraqi Al-Ahli Bank.

The foundation stated in a report published today that the assets of these banks have increased by 108% from 2019 to 2023, reaching a total value of 13.7 trillion IQD in 2023, up from approximately 6.6 trillion IQD in 2019.

The report attributed this increase to the growth of deposits in these banks, which have risen by 131% to a total of 8.8 trillion IQD in contrast to the 3.8 trillion IQD in 2019.

Moreover, the revenues of these banks have soared by 285% compared to 2019, with an expected total of 908 billion IQD by the end of 2023, up from 235 billion IQD in 2019, as outlined in the report.

https://shafaq.com/en/Economy/Eight-Iraqi-banks-assets-surpass-13-Trillion-IQD-signaling-growth

Iraqi Dinar Floating Internationally today 2023 /iraqi dinar Revaluation...

Member Of Parliamentary Investment: The Government’s Approach Is Not To Delay Budget Instructions, 20 OCT

 Member Of Parliamentary Investment: The Government’s Approach Is Not To Delay Budget Instructions

Time: 10/20/2023 13:04:42 Read: 572 times  {Economic: Al-Furat News} A member of the Parliamentary Investment Committee attributed the delay in issuing the financial budget instructions to the appeals submitted to them in the Federal Court.

Asaad Al-Bazouni told {Al-Furat News} agency, “We do not expect that there is a government trend regarding delaying the issuance of budget instructions, and that the financial allocations are in place and the government has taken some measures in this regard, and that the delay may be due to the completion of the budget file and its appeals.”

He added, "We do not expect that the government's approach will be delayed."

On June 12, the House of Representatives voted on the federal budget law for the years 2023-2024-2025, after discussions that lasted for five days.

On August 7, the Federal Supreme Court decided the federal government’s appeal of the budget law.

Parliamentarians attributed the Ministry of Finance’s delay in the allocations to ministries and governorates more than five months after approving the budget to “a lack of financial liquidity, or to crossing the largest possible period of time to move away from the financial deficit, or to the delay that occurred in legislating the law and then in issuing implementation instructions,” while others attributed it. to fear that its funds would be exploited in the local elections scheduled for next December 18.

Iraq, for the first time in its history, approved a three-year financial budget in a single draft law, which Parliament voted on last June, and the government defended the move by saying that it aims to develop plans for important projects in The country, in addition to avoiding the problem of delaying the approval of financial budgets every year for several months.

The budget for the current year and the next two years, according to the budget law, amounted to 153 billion dollars, with an expected deficit of up to 48 billion dollars, and the price of oil was approved at 70 dollars per barrel, as exports constitute... Iraqi oil represents more than 96% of Iraq's financial imports.

LINK