In Iraq: “Economist: 2025 budget amendments are pending and the date of approval before the end of the year.”
Why is this important. We are looking at WTO with all files done and paperwork finished…and we are waiting on the official announcement that Iraq has ascended…
Then the budget tables are to be done by the end of the year…and auctions will be ending by the end of the year.
We were told many years ago that at the time they ended the currency auctions…there would be a rise in value of the Iraqi dinar. Now they are ending them before the end of the year…thats not far off. We are in the window.
Shafaq News/ On Sunday, the Iraqi Parliamentary Finance Committee projected that non-oil revenues in the 2025 budget will amount to 30 trillion IQD ($22,915,015,122), driven by electricity collection, taxes, and revenues from the Baghdad Municipality and various municipal offices.
In a statement to Shafaq News Agency, Parliamentary Finance Committee member Mo’een Al-Kadhimi explained, "The Finance Committee held a meeting today, hosting Finance Minister Taif Sami, along with the heads of the tax and customs authorities and general directors from the Ministry of Finance, to discuss the general budget law, focusing on both oil and non-oil revenues."
"While oil revenues are already determined, the focus on non-oil revenues included activating government entities such as the electricity sector in bill collection, the Baghdad Municipality, and other municipal offices. Additionally, the discussion covered tax commissions, revenues from border crossings, customs, and other services that could increase non-oil revenue streams."
He further noted, "Although the government’s program highlighted the need to activate non-oil revenues, implementation has been lacking. By 2025, oil revenues are expected to reach 120 trillion dinars, while non-oil revenues are anticipated to be around 30 trillion dinars, including income from customs, taxes, electricity collection, and services provided by the government."
Question: "The exchange rate change should be the next step before the lower notes and everything else right?"
The next step is to introduce the lower notes and the new exchange rate yes But in that process it's a chain of events - Picture a room with 100 mouse traps...
if you throw one ping pong ball in that room...
one mouse trap will cause a chain reaction...to fire off. That is what's going to happen when you have the new exchange rate introduced to the world...