Frank26: "NOTICE THE GOI HAS NOTHING TO DO WITH PARLIAMENT!!!"...........F26
The Iraqi government raises the size of the 2024 budget, and Parliament is “surprised”
3/27/2024
The Parliamentary Finance Committee said on Wednesday that the Iraqi government had increased the size of the 2024 budget, noting that it was “surprised” by the decision.
Member of the Parliamentary Finance Committee, Moeen Al-Kadhimi, explained to Shafaq News Agency, “The Parliamentary Finance Committee hosted the Minister of Planning to discuss amendments, projects, and the reasons for the delay in sending the general budget law to the House of Representatives.”
He added, "We in the Parliamentary Finance Committee were surprised that the government raised the total amount of the budget law from 199 trillion dinars to 228 trillion dinars in the 2024 budget," explaining that "this increase is large, while what was spent in 2023 amounted to 142 trillion dinars."
He pointed out that "the members of the Finance Committee had an opinion regarding the hosting that the budget should be realistic and not just planning."
Al-Kadhimi pointed out that “raising the total amount in the budget law caused an increase in the deficit rate,” noting that “the budget is currently still in the corridors of the Council of Ministers and is expected to be sent to the House of Representatives next month.” LINK
The Dollar Continues To Decline In Parallel Markets
Economy | 03/30/2024 Mawazine News – Baghdad The prices of the US dollar fell against the dinar in Baghdad, on Saturday, and in Erbil with the stock market closed.
A source told Mawazine News that dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 147,150 Iraqi dinars against 100 dollars, while this morning it recorded 147,350 Iraqi dinars against 100 dollars.
He pointed out that selling prices in exchange shops in local markets in Baghdad decreased, as the selling price reached 148,250 dinars for 100 dollars, while the purchase price reached 146,250 dinars for 100 dollars.
In Erbil, the dollar also recorded a decline, as the selling price reached 146,800 dinars for every 100 dollars, and the purchasing price was 146,600 dinars for every 100 dollars .
Launching the platform for electronic reservation and payment for the international scope of Iraq
3/31/2024
Today, Sunday, the Communications and Media Commission announced the launch of the platform for electronic reservation and payment for the international Iraqi domain com.iq and .net.iq by companies in a step to enhance the use and spread of this name.
The authority said in a statement:
“The new platform, which will begin operating tomorrow, Monday, the first of April, will facilitate an integrated automation process for reserving and managing the Iraqi domain under the extensions com.iq and net.iq, which will be designated for Iraqi companies seeking to enhance their electronic presence without the need to visit the headquarters.” Authority or its offices.
She continued, "The platform, which uses the latest technologies in management and financial payment processes, will enable companies to carry out the process of selecting the name they wish to reserve, in addition to paying the financial costs assigned to it, in addition to controlling the DNS of the hosting to which the reserved domain will be linked."
She pointed out that "the new platform can be accessed through the website https://iq.cmc.iq and follow the instructions explained for the registration process, emphasizing the importance of preparing all documents and information necessary to complete the process successfully, and entering the company’s registration information in English." LINK
The next thing I want to see [After the restrictions are lifted on the one main Iraqi bank] is the budget being amended and released because then after that it's a domino effect. Everything else will follow it...
The CBI announcement - We believe it's about the currency. We believe it's about the auctions. We believe it's about a change in the auctions, a metamorphosis of the auctions which is exactly what the US Treasury wanted in order to have security and stability in the bank, which was exactly what was needed in order to bring forth a new exchange rate for their currency.
The Bank of Japan is in a very difficult position. They hold a lot of US dollars in reserve that could be utilized to prop up their own currency if they were to sell it off. The problem is that a move like this would disturb the balance of trade on a worldwide level. Shifts in the prices of other countries' currency values may start a domino effect.
We're dealing with two different things... We have what's known as the nominal value, which is the numbers on the bank notes and then we have an exchange rate value. That's two different things.
This is [from] the World Bank data bank - Real Effective Exchange Rate is the nominal effective exchange rate in measure of the value of a currency against a weighted average of several foreign currencies divided by a price denominator or index of costs...
Iraq already reports a real effective exchange rate. They report it all the time...It's reported to the IMF regularly...
The IMF, WTO, World Bank and whoever don't have a say whether or not Iraq LOPS off their zeros. That is decided by the Central Bank of Iraq as well as the government of Iraq. You're confusing the 'lopping of the zeros', 'the deletion of the zeros', 'the reducing of the zeros', 'the removing of the zeros', as somehow a loss in value. It is a neutral event. It doesn't affect outside investment into the Iraqi dinar. I told you when you remove the zeros all you're doing is lowing the nominal value of the currency. Has nothing to do Iraq's exchange rate versus other wold currencies - noting whatsoever.
Within a week…more than one billion dollars in sales from the Central Bank of Iraq
Shafaq News/ The Central Bank of Iraq’s total sales of hard currency during the past week amounted to more than one billion US dollars.
Shafaq News Agency correspondent stated that the Central Bank sold during the past week and for the four days in which the auction opened one billion, 259
million, 432 thousand, and 212 dollars, at a daily rate of 251 million, 886 million, and 442 dollars, higher than what it recorded last week, which It reached 783 million, 749 thousand, and 822 dollars.
The highest dollar sales were on Wednesday, when sales amounted to 257 million, 591 thousand, and 195 dollars, while the lowest sales were on Sunday, when sales amounted to 245 million, 545 thousand, and 947 dollars.
Our correspondent indicated that foreign remittance sales during the past week amounted to 1 billion, 186 million, 593 thousand, and 292 dollars, an increase of 94% compared to cash sales, which amounted to 73 million, 838 thousand, and 920 dollars.
Our correspondent explained that the sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards reached 1,305 dinars per dollar, while the selling price of transfers abroad and the cash selling price reached 1,310 dinars per dollar.
[via WiserNow] Iraq has a new rate on their CBI rate, and it's very good and they should be bringing out the international rate on the Iraqi Dinar on Sunday - Easter Sunday...So we're looking to get notified Monday, set appointments...and start on Tuesday with our exchanges
...I think we're all set to start.
First of all, all sanctions with one of our US banks were dropped by Iraq. We dropped sanctions...On Iraq I think about three or four days ago...Everything's clear from that point of view.
Sudanese Advisor: The 2024 budget tables focus on investment spending
Today, on Saturday, Mazhar Muhammad Salih, the prime minister’s finance advisor, reaffirmed that the 2024 budget tables prioritize investment expenditure for new projects.
In an interview, Saleh stated that “the Federal General Budget Law No. 13 of 2023 (the tripartite) stipulates the submission of schedules of public expenditures and revenues adapted according to the new fiscal year and its objective circumstances for the year 2024 for legal approval. The existing procedures for completing the public financial tables for the fiscal year 2024 in order to submit them to the legislative authority for approval and implementation immediately are only a response to that text.
”
He stated that “the most important thing in these tables is determining the levels of investment spending on new projects, which is fundamental and fundamental spending in the movement of the national economy, as it is directly linked to the development and growth of the economy by providing objective conditions for the movement of government demand for supplies and inputs for investment in projects.” authorized for new.
He stated that “the demand for productive factors associated with government investment activity is essential in achieving the targeted level of growth in the annual gross domestic product and sustaining its momentum, in addition to its connection to the labor market and business and moving them in accordance with a climate required by the sustainability of the country’s economic development itself.”
I attempted to include the following on the call underway however I was not acknowledged so will post here.
The council and Gov't of Iraq have advised all retailers in country are free to revise their product prices upward to reflect the change in Dinar valuation taking place today in country. Confirmed by two independent sources.
Wed. 27 March Texas Snake:
Since there has been so little actual RV information being released over the past couple of days I thought it might be a relief over this coming Easter celebration to share what my banker has just shared with me.
His text is in all caps. “THE LATEST MESSAGE TO ALL REGIONAL CURRENCY EXCHANGE MANAGERS IS TO ADVISE YOUR SPECIALISTS TO BE AVAILABLE FORDUTY IN THE WEEK FOLLOWING THE EASTER WEEKEND AS OUR INFORMATION IS ALL REQUIREMENTS HAVE BEEN SATISFIED GLOBALLY AND THEANNOUNCEMENTS WILL OCCUR IN THE FORTHCOMING WEEK. WE WILL PROVIDE CONTINOUS INFORMATION AS IT BECOMES AVAILABLE OVER THE WEEKEND. PLEASE RECOGNIZE WE HAVE HAD SUCH NOTIFICATIONS BEFORE SO HOPEFULLY FURTHER DELAYS WILL BE UNDERSTOOD.”
Iraq’s natural gas production poised for significant surge by 2050
Iraq is supposed to observe a significant expansion in petroleum gas creation continuously 2050, as evaluations from the Gas Trading Nations Gathering (GECF) show.
Gas creation has multiplied in Iraq to 15 billion cubic meters in 2022, from 5 billion cubic meters kept in 2013, as per a GECF report.
Iraq’s essential endeavors to increase its gaseous petrol creation line up with its expects to invigorate the power area, which vigorously depends on this energy hotspot for power age.
The report further shows that the expected creation flood will essentially begin from related gas extricated during oil creation, keeping up with its situation as Iraq’s essential wellspring of petroleum gas and representing 60% of the nation’s extended creation by 2050.
Key extraction destinations adding to this development incorporate the oil fields of West Qurna 2, Majnoon, Artawi, Tuba, and Luhais, all piece of a venture understanding endorsed by Iraq with TotalEnergies last year. The task’s creation limit is supposed to arrive at a significant 6.7 billion cubic meters yearly upon finish.Remarkably, Iraq positioned as the world’s third-biggest gas-erupting country by the finish of 2022, following Russia and Iran, with an expected almost 18 billion cubic meters erupted every year
The 15th of April, I'll tell you this, most likely what...Sudani, Alaq, all those folks in the Ministerial Council of Economics, they're working their tails off to make sure to make sure they're ready, if not done, well before Al-Sudani shows. Because if he's coming to town and he wants bargaining chips and I'm pretty sure a real effect exchange rate is going to be one of those bargaining chips.
When people suggest they're going to LOP the currency ask them about...How is it that a country that's worth $16 to $17 trillion with no inflation is going to LOP their currency? And that would be allowed by the IMF, the Bank of International Settlements and the WTO...US Treasury?Why would they be able to just erase the value of the currency when the US Treasury holds lets say 7, 9, 10 trillion dinar? ...This is what's in the news. This is what's reality...
Among them are the ones related to American sanctions and exchange rates. Government clarifications on many economic files
Economy News - Baghdad
The technical adviser to Prime Minister Mohamed Shia Al-Sudani, Friday, while explaining that the government is serious about changing and amending the salary scale for state employees, indicating that stopping the Central Bank initiative made investment residential complexes the monopoly of the well-off.
Mohammed Sahib al-Daraji said in a televised interview followed by "Economy News", that "the visit of the Prime Minister to Washington will be important because America is an important player in the region and these data make the Iraqi government required to deal with the file of the relationship with Washington at the economic and financial level, especially through the control of the US Federal on Iraq's funds from the sale of oil."
He added, "Sudani's visit is important and there are many files that will be resolved, including the file of money, the presence of US international forces, the file of energy and water and the climate file," considering that "the visit comes to develop a new framework for the relationship."
Al-Daraji explained that "the US sanctions on private banks are not their right, but their control of Iraq's money made them behave in this way."
He pointed out that "the difference between the exchange rate of the dollar against the dinar will be resolved soon through some of the measures that the government seeks to implement, which limited the exchange rate to 2000 dinars against the dollar," expecting that "the exchange rate stabilizes at 1480 and 1470 dinars against the dollar."
Al-Daraji pointed out that "Iraq does not suffer from a cash liquidity crisis because Iraq obtains liquidity by selling oil in dollars and selling it inside Iraq and obtaining dinars from the inside and recycling it," noting that "the current crisis is not a liquidity crisis, but the delay in budget schedules is what led to the existence of this crisis, which arises from the cessation of the conversion of dollars into dinars, through intermediary banks."
He explained that "the recent decisions of the Council of Ministers on raising the price of fuel, improved gasoline and super were part of a package of decisions, the most important of which was to reduce the public debt of the country through the reduction and cancellation of some loans to reduce the public debt to $ 10 billion, meaning that the public debt is less than 10% of GDP, as for the subsidized "gasoline" or other subsidized goods are smuggled continuously, noting that "the target of this decision are high-income people and simple citizens will not be affected by this The decision in addition to seeking self-sufficiency in oil products."
Al-Daraji pointed out that "the Iraqi family, according to planning, consists of 5.6 people, which means 6 million families, which means cars with the number of families or more, which means the re-imposition of the individual and marital system, and this is unacceptable by citizens, but these decisions with changing the working hours of some ministries to reduce the momentum in the streets."
The adviser to the Prime Minister stressed that "political tensions are what brought Iraq to this stage by reducing the size of the achievements achieved by the government, but the situation now in Iraq has changed because of awareness, which has become a reality that political tensions can not change," noting that "the country did not get anything during the previous periods and lost confidence in democracy, but there are signs of the return of confidence and satisfaction with what will result from the current government."
In addition, Al-Daraji pointed out that "the monetary mass in Iraq is very high and the Finance Committee should review its information because the financial mass is large and there is no problem in it," explaining that "the monetary mass exists among citizens and trades in the market through the disbursement of the necessary needs of citizens," noting that "Iraq if it sells $ 8 billion and becomes in the Central Bank and what is converted into dollars is equivalent to what the bank sells from the dollar through the platform It is the process of converting dollars into dinars, and it is possible to transfer the surplus to industry and investment in residential complexes to reduce the suffering of citizens."
Al-Daraji pointed out that "electronic payment enhances the output of the cash mass stored by citizens through sales transactions between citizens, and it is possible to establish holding companies for the participation of citizens, but we need insurance in order for these projects to succeed."
On the slogan of Made in Iraq, the adviser to the Prime Minister stressed that "this is a national demand for this government, which is very serious to preserve hard currency and develop the Iraqi economy," noting that "the current government announced for the first time that it will guarantee the investor through sovereign guarantee and this is an encouragement for Made in Iraq, which has the raw materials necessary for industries and evidence cement industry, which has succeeded in achieving self-sufficiency in Iraq."
He pointed out that "America, which numbers 300 million, has 3 million employees, while Iraq has 8 million employees, and this is the result of poor planning, which makes the Iraqi economy restricted," and explained that "the salary scale must be adjusted and the government is serious about changing it to reduce the differences between employees," noting that "changing the salary scale will be by raising the salaries of employees and not reducing some."
"The abolition of military industrialization was a big mistake committed by Bremer and its results were catastrophic for Iraq because the institution was a high-end art institution that was misused by the former regime," al-Daraji said.
Al-Daraji explained that "the government has supported some industries with sovereign guarantees, including a large glass factory in Najaf, in addition to the establishment of a petrochemical complex in Basra, in addition to the construction industries in Samawa and Diwaniyah, and the government's biggest priority is the localization of the pharmaceutical industry, which costs the country hard currency estimated at $ 6 billion per year," noting that "the establishment of factories needs financing, protection and marketing, and the government helps finance the project and protect it from importer competition in addition to marketing assistance."
Al-Daraji pointed out that "the pharmaceutical industry needs successful commercial advertising that gets rid of the idea that foreign production is better than Iraqi, so we need good marketing and change this idea about the Iraqi product in order for these projects to succeed."
Regarding the new Sadr City, Al-Daraji said, "Work is underway to select designs for the city's infrastructure and select solid Chinese companies to develop this city, which is expected to start work within the next two months," noting that "the government supports the presence of Arab and foreign investors to encourage the provision of service to citizens."
He considered that "stopping the initiative of the Central Bank is a mistake reserved because it made investment complexes the monopoly of the well-to-do," explaining that "Sadr City residential will be available to the poor classes of citizens because of the support of the government," noting that "the government seeks to take out civil government departments to the parties to reduce the population momentum in the center of the capital."
I believe we are just waiting on a REER (Real Effective Exchange rate) right now. The question is what are they waiting for on the timing?
I hear from banking contacts, government contacts, A Ministry of Finance contact in Iraq…that they just need the announcement of the REER.
Question: So we wait for the REER- and then it will float up?
MarkZ: Not necessarily. If the rate is high enough …and we believe it will come in higher and not float... We believe the REER is coming in strong.
We do have some reports from some bankers and they were requested not to leave their area this weekend. That is a bit of a change. Even my redemption center contact in Virginia is hearing they have to stay within a 2 hour traveling distance this weekend…even if its Easter weekend. I think that is interesting.
Information” opens the files for installing lecturers, the exchange rate, and automation in the 2024 budget
An accelerated movement led by the Parliamentary Finance Committee in order to find objective solutions to many of the problems facing the economy and money in Iraq by pushing the government’s programs for implementation in light of the challenges imposed by the oil markets, which constitute an important criterion in determining the volume of money flowing to the country’s treasury, not to mention the rights of multiple segments awaiting resolution. In the 2024 budget.
The Information Agency interviewed Mudar Al-Karawi, a member of the Parliamentary Finance Committee, to find out the most prominent developments in the economic file in the country and its challenges during 2024.
Q/ When will the 2024 budget schedules reach Parliament and are there any important changes?
A/ We expect the 2024 budget schedules to arrive next week after they are completed by the government committee, after which they will be discussed by the committee, but it is too early to talk about its provisions in detail, but the Ministry of Finance is awaiting approval of the schedules in order to launch financing for all governorate projects according to the instructions.
Q/ Where has the automation file reached in state institutions?
A/ There is remarkable progress in applying automation, especially in the tax and customs departments, not to mention the rest of the other services, because it is a path that will reduce the routine of administrative procedures and close 50% of the doors to corruption, in addition to being an effort to develop non-oil revenues for the Iraqi treasury.
Q/ The 2020 lecturer file in education, will it be decided in the 2024 budget tables?
A/ The Parliamentary Finance Committee gives importance to this file, and we officially asked the Ministry of Finance to include their appointments within the Ministry of Education’s 2024 allocations, and we are awaiting the schedules in order to deal with them according to the procedures.
Q/ Will the exchange rate in the parallel market witness a greater decline in 2024?
C/ The Central Bank and financial measures contributed to stopping the fever of the exchange rate rise in the parallel market and even controlling it at high rates and the gradual decline that occurred, even if it was slow over the last five months, but it was the beginning of pushing it to be close to the exchange rate specified by the Central Bank of Iraq, i.e. The decline will continue
Q: Was the amount of money allocated to provincial projects in 2023 limited?
Q/ It was not limited, but rather it was at a high rate compared to previous years, especially since the total amount allocated amounts to more than 10 trillion dinars, and it covers more than 5 thousand projects in the governorates, but reaching the actual completion requires some time, especially with the procedures and time period to complete the stages. .
Q/ What is Iraq’s 2024 strategy to confront its financial challenges?
A/ Iraq is still facing a real challenge represented by its dependence on the sale of oil as a primary resource for its treasury at a rate approaching 90% in light of price fluctuations that put the economy in a difficult situation from time to time. Therefore, there is a general trend in maximizing non-oil treasury revenues and establishing a culture of partnership between the two sectors. Public and private, to crystallize a long series of investments that create job opportunities and provide indicators of activity according to the principle of service in exchange for interest.”
Q/ What are the most prominent challenges of investments in Iraq?
A/ For years, the security factor has been the most prominent challenge to investment and attracting capital, but the situation is currently different with stability and control of the security forces, but the marketing factor remains, creating flexibility in procedures, reassuring investors, and diversifying job opportunities are challenges that must be paid attention to, in addition to the necessity of ending any indicators of corruption that are trying to approach the file. Investing and seeking to reduce procedures in a way that contributes to attracting more money, especially since internal investment rates increased by 35% in the past 16 months.”
Q/ Is Iraq continuing to diversify currency baskets?
C/ A current reality imposed by international conditions on the importance of diversifying the basket of currencies in order to secure import needs from multiple origins and not to limit dealing to one or two currencies. Also, pushing the Iraqi reserve to the principle of diversification is very important, and it is a context that most countries in the world have begun to adopt in recent years. link
Iraq-Jordan power line to see the light tomorrow, Saturday
Baghdad - Iraq Today:
The Director General of the Jordanian National Electric Power Company Amjad Al-Rawashdeh said that the Jordanian-Iraqi electrical interconnection line will enter service next Saturday.
The Jordan News Agency (Petra) quoted Rawashdeh as saying that the line will be shared between the Jordanian Risha electric stations and the Iraqi Rutba station at a voltage of 132 kilovolts, to feed the loads of the Rutba area near the border with Jordan.
On February 11, 2024, in the capital, Amman, Iraq and Jordan signed a document to provide the Iraqi side with 40 megawatts of electricity in the first phase, as the two parties considered the contract as part of a more comprehensive Arab plan for the Arab common market for energy in the future.
The Iraqi Ministry of Electricity announced the completion of the operation of the Iraqi-Jordanian electric line, stressing that the date of entry of the line into service will be next Saturday, March 30.
She added that the line will be shared between the Jordanian Risha electric stations and the Iraqi Rutba station, and at a voltage of 132 kilovolts to feed the loads of the Rutba area near the border with Jordan.
I would say [They] do not want us to have wealth from our investment in the Iraqi dinar.
Why? Because it would become too difficult for them to continue to control us.
We are the ones they do not want to give power to...When I...imply Iraq will go on to readjust its currency and we may not be privileged to participate in the profits this is where I am coming from. Iraq readjusting its currency does not mean the country will join the global financial platforms. Saddam never did and his currency was worth 1 dinar to 3 US dollars...Will they allow the people of Iraq to connect with the people outside of Iraq on the Forex market ?
We often talk about $0.10 to $0.25 to one U.S. dollar. People get upset but that is what could happen without a reval. And most of the [Dinar investors] would experience a six-figure profit if the currency just went up to 10 cents to 1 U.S. dollar.
This morning, Saturday (March 30, 2024), banks in the governorates of the Kurdistan Region witnessed a huge human momentum by retirees to receive their salaries.
The "Baghdad Today" correspondent said, "The banks of the Kurdistan region witnessed this morning a huge human momentum from retirees to receive their salaries."
Last Thursday, the Ministry of Finance and Economy of the Kurdistan Regional Government announced the employee salary schedule for the month of February.
According to the schedule published, and seen by “Baghdad Today,” “the distribution of salaries will begin starting on Saturday, as the Ministry of Health, Finance, Interior, retirees, social affairs, and people with special needs will be the first to receive the salary.”
On Wednesday, the Kurdistan Regional Government announced the distribution of employee salaries for the month of February and the preparations to secure salaries for the coming months. Link
I know it’s been a very long road for us investors but we will get to the end of this and we can now see the writing is on the wall...we must...follow the 2011 plan and it is going to lead us to the RV, whenever that occurs. We can see now their next step ...we can clearly see it is VERY, VERY close, according to the interview with Salih.
.it is very significant to collect...dollars stashed in the homes of the citizens. This is the next step. But they told us the CBI would not take this next big step, to collect all this cash, unless they first got the parallel market under control. Now they are telling us it is under control
. ...But how will the CBI get all these hordes of cash out of the homes and into the banks? ...Yes, more purchasing power...But how do you get more purchasing power? You must increase the rate of the dinar and I firmly believe this will be next step and this is coming soon, VERY soon!
But slow down cowboy, I did not yet say reinstatement...this is going to be first an in-country revaluation... We don’t actually know the next “program” rate revaluation from 1320, but we do know with certainly it must be over a dollar. How much over to give enough incentive to turn in the dollars, we don’t know. ... We are not going to exchange at this rate anyhow. Later, after the reinstatement, If you live in the U.S. you will get the U.S. rate, if in Canada you will get the Canadian rate or if you live in the EU you will get the European rate. I told it will be significantly higher than the initial in-country rate by the time we see it and go to the bank..
Government advisor: The 2024 budget tables focus on investment spending for new projects
3/30/2024 Baghdad - INA - Nassar Al-Hajj,
the financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the 2024 budget tables focus on investment spending for new projects.
Saleh said to the Iraqi News Agency (INA): “The existing procedures for completing the public financial tables for the fiscal year 2024 in order to submit them to the legislative authority for approval and implementation immediately are only a response to the text contained in the Federal General Budget Law No. 13 of 2023 (the tripartite ) Which stipulated the submission of schedules of public expenditures and revenues adapted according to the new fiscal year and its objective circumstances for the year 2024 for legal approval.
He pointed out that "the most important thing in these tables is determining the levels of investment spending on new projects, which is fundamental and fundamental spending in the movement of the national economy, as it is directly linked to the development and growth of the economy by providing objective conditions for the movement of government demand for supplies and inputs for investment in projects."
“The demand for productive factors associated with government investment activity is essential in achieving the targeted level of growth in the annual gross domestic product and sustaining its momentum, in addition to its connection to the labor market and business and moving them in accordance with a climate required by the sustainability of the country’s economic development itself.”
Prime Minister Muhammad Shiaa Al-Sudani earlier confirmed the start of setting 2024 budget schedules. LINK