Al-Sudani: The Priorities Of The Government Program Were Necessary Due To The Nature Of The Stage And Its Economic Challenges
Tuesday 29 October 2024 | Politics Number of readings: 113 Baghdad / NINA / Prime Minister Mohammed Shia Al-Sudani stressed: "The priorities of the government program were necessary for the nature of the stage and its economic challenges."
Al-Sudani said in a speech during the cabinet session on the occasion of the second anniversary of the first government session: "The targets of the government program touched the needs and aspirations of the people."
He added: "The ambition and accurate diagnosis were among the most prominent features of the government team, and we succeeded in prominent files and the language of numbers is what governs."
The Prime Minister continued: "Our achievement is throughout Iraq, and was not limited to one city, and we have completed stalled projects since 2005, and we have begun to solve intractable problems." https://ninanews.com/Website/News/Details?key=1165035
The Central Bank of Iraq, on Tuesday (October 29, 2024), re-published the controls on the declaration of funds, indicating that it allows the entry or exit of amounts below $10,000.
The bank said, according to a statement received by Baghdad Today, that in order to reduce the risks of entering and taking out funds across the Iraqi border and exploiting this in money laundering or financing of terrorism, and based on the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2025, and the provisions of Controls No. 1 of 2029 (amended to Regulations No. 1 of 2017), the following should be adhered to:
1. It is allowed to enter or take out amounts of less than (10,000) dollars (ten thousand US dollars) or its equivalent in other currencies without declaring them.
2. It is allowed to enter or take out amounts exceeding (10,000) dollars (ten thousand US dollars) to 20,000 dollars (twenty thousand US dollars) provided that they are declared, with the need to show what supports the purpose of entering or taking out these amounts. In the event that supporting documents are not available, the traveler shall submit a pledge to bring those documents after (30) days from the date of the permit.
3. It is forbidden to enter or take out amounts exceeding (20,000) dollars (twenty thousand US dollars) or its equivalent in other currencies, and the process of entering or taking out these amounts through financial institutions is exclusively.
4. It is forbidden to enter or take out amounts exceeding (1,000,000) dinars (one million Iraqi dinars) even if they have been declared, and the amount is seized and legal procedures are taken against it. 5 Declaration of precious stones and precious metals if its value exceeds (10,000) ten thousand US dollars 6. Declaration of negotiable financial instruments to the bearer or transferred inside or outside Iraq through a person, postal service, shipping service or any other means whose value exceeds (1,0000) ten thousand US dollars.
Iraq has attracted $100 billion in investments over two years, including a $5 billion deal with Egypt’s Eli Electric to develop industrial cities.
Highlights
💰 Iraq secures $100 billion in investments over two years.
🤝 $5 billion agreement signed with Egypt’s Eli Electric for industrial cities.
🏗️ Focus on advancing industrial and educational infrastructure.
📈 Joint investment fund established to promote smart industry and education.
🌍 New economic city aims to attract local and international investors.
📍 Potential locations assessed in Central and Southern Iraq.
👷♂️ Project expected to create jobs and diversify the economy.
Key Insights
💵 Significant Investment Growth: Attracting $100 billion signals strong investor confidence in Iraq’s economy, paving the way for future growth.
🇪🇬 International Collaboration: The partnership with Egypt’s Eli Electric underscores Iraq’s commitment to international cooperation in economic development.
📚 Focus on Education and Industry: Prioritizing educational infrastructure alongside industrial development indicates a long-term strategy for sustainable growth.
💡 Innovation through Smart Industry: The establishment of a joint investment fund aims to nurture advanced technologies, which could enhance Iraq’s competitiveness.
🌆 Economic City Development: The plan for a new industrial city highlights Iraq’s strategic approach to creating hubs that attract diverse investments.
🗺️ Geographic Diversification: Assessing locations in Central and Southern Iraq aims to ensure equitable economic benefits across regions.
📈 Job Creation Potential: The project is expected to generate employment opportunities, contributing to economic diversification and stability..
We were told a few days ago that the final filing was made with the world courts, the US Treasury and the Department of Defense and the first wave of funding will come sometime this month.
They had a problem last week with the cabal who we were told removed some of the gold but got caught.
The launch codes will be submitted next week and they are testing the systems with the whales.
Again, it may happen next week, but I don't think anything will happen until after the election. The process will start, there will be no delays, I know we all want it now, but I don't see this happening until after the new president comes on the scene in January, but hopefully much sooner.
I don't think this will go past January. I really don't see it now, but I think we're getting very close.
The government confirmed that the 2025 budget will remain in the range of 200 trillion dinars, despite the demands of the Parliamentary Finance Committee to reduce it to comply with the expected financial revenues for next year.
In this context, the Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, explained that “the 2025 budget will continue to be linked to the constants approved in the federal general budget law for the three years (2023-2024-2025), which was previously submitted by the government and approved by the House of Representatives.”
Saleh stated that “next year’s budget will include a hypothetical deficit of 64 trillion dinars,” noting that “this deficit is a hedging deficit that has been approved by law to deal with fluctuations in revenues, especially oil, which is affected by changes in global energy prices and the cycle of oil assets.”
He added that “the total spending ceiling will approach 200 trillion dinars, according to the financial and economic conditions of the country.”
He pointed out that “the price of a barrel of oil in the trilateral budget, which includes the 2025 budget, was set at $70. If the price of oil exceeds this level, this will reduce the percentage of the expected default deficit in the budget.”
The Commercial Bank of Iraq announced the possibility of buying dollars by passengers through the airports of the Kurdistan Region in Erbil and Sulaymaniyah at the official price.
The bank stated in a statement that the traveler must deposit the necessary amounts in Iraqi dinars in one of the branches
The Commercial Bank of Iraq in Mosul, Erbil, Sulaymaniyah or Dohok so that it can obtain the dollar at the official price.
He pointed out that “the traveler must have a valid Iraqi passport with a valid visa or residence, in addition to the civil status identity or national card and a valid travel ticket.”
He added that “the traveler must undertake not to buy foreign currency from another party in Iraq for one month, and he must be Iraqi and be more than 18 years old.
According to information, travelers can buy dollars with amounts of up to $3,000, and at the official price of 132 thousand dinars per $100.
So the corrupt Iraqi politicians just showed their faces and played their hand. Thanks for that. This makes it easier for Israel to target your sorry butts when they take you out very soon.
We need to remove OPEC off of Iraq. They have absolutely no business being involved in any other countries affairs, especially Iraq.
Ignore the gurus who have been lying to you all these years.
They’ve never had it right once. Iraq has NOT returned to the international state yet. They’re about to but they’ve been an international country.
They manipulate peoples emotions and play with words to take advantage of peoples lack of awareness of global affairs. Stop helping the gurus out!
The Ministry of Transport announced on Tuesday an upcoming meeting of the Quadripartite MoU countries on the development path, while the date of completion of the design stages of the project was determined.
Ministry spokesman Maitham Al-Safi said that “on the 31st of this month, a ministerial meeting of the ministerial Quartet will be held on the strategic project on the development path, and the meeting will include Minister of Transport Razak Mahbis Al-Saadawi and his counterparts in Turkey, Qatar and the UAE, and the meeting will deal with the modern through development and the latest project.”
Al-Safi pointed out that “the project is still in the stage of designs that have reached its end, as the completion in the railway line reached 100%, after conducting the topographic survey and soil stilling operations, and with regard to the landline, the completion rates reached 84%, and that this year witnesses the completion of the initial basic design stages and then moving to the stage of detailed or final designs, after which the project is presented to companies to compete for opportunities to implement the project according to the Iraqi vision and what serves the interest of the Iraqi people.”
He added, “The beating heart of the development road project is the Al-Faw Port project, and it has reached advanced completion stages. Most importantly, the process of flooding the underwater tunnel has reached advanced stages after the completion of its five berths, which is the completion of the Al-Faw port stage in 2025, and the work is escalating, especially between the road linking Umm Qasr and Al-Faw Port after reaching the final clading stage, as well as the completion of the final procedures, including the erection of lighting poles. There are also a number of bridges in which the completion rates have reached 98% and 96% for the connecting line, as well as excavations in the navigation channel and the container yard are ongoing and their completion rates have exceeded the planned.”
Al-Safi continued, “Our strategic projects are moving at an increasing pace and are within the directives of the Prime Minister, and the continuous follow-up by the Minister of Transport and through our cadres working represented by the General Company of Iraqi Ports with regard to the FAO port,” warning that “this meeting will be very important, as it will focus on the organizational and administrative process structure of the development road project, which is an opportunity to learn about the project and the latest that has reached it.”
On Monday, the exchange rates of the US dollar witnessed a decline in the markets of the capital Baghdad, and in Erbil, the capital of the Kurdistan Region, with the opening of the main stock exchange in the country.
Dollar prices fell with the opening of the two main Al-Kifah and Al-Harthiya stocks in Baghdad, to record 150,750 dinars per $100, while on Sunday 151,000 dinars per $100 were recorded.
With regard to the selling prices in banking shops in the local markets in Baghdad, they decreased, as the sale price reached 151.750 dinars, while the purchase amounted to 149,750 dinars per 100 dollars.
In Erbil, the dollar recorded a decline, with the selling price in banking shops reaching 150.700 dinars per $100, while the purchase price reached 150.600 dinars per $100.
Thank you MarkZ for all your time, and encouragement daily….. PDK
MarkZ Update- Some highlights by PDK-Not verbatim
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Good Morning one and all
Member: RV there yet…sigh
Member: Would sure love something good to happen soon
MZ: Going to be an interesting week.
Member: I don't know how you keep an upbeat attitude, everything sucks
MZ: Let’s start with Iraq: “The Central bank publishes the controls for declaring funds and their entry or exit from Iraq” one of the things I was always told is that they would secure the borders to restrict flow of cash (specifically dinar) out of the country in the days before the RV. Can only take $10 grand US …and cannot leave the country with more than $1 million dinar. I think this one is important.
Member: I wonder if the HCL must finalize before revalue?
Member: how does the restriction on leaving iraq with $ effect the currency dealers?
Member: sounds to me like dinar supplies will be drying up….I think that could be good.
MZ: “ Al-Lami: stresses the importance of the presidency’s support for the Integrity commission in its quest to fight the corrupt.” There are a number of articles in Iraq yesterday and today about getting back tax money government money ect….that has been stolen over the years. And the recovery of billions of stolen dinar.
MZ: “World Economic forum: Iraq to grow by 4.1 percent in 2025” Making Iraq one of the few countries still growing despite inflation.
MZ: Historic Bond information is coming in all over the place. One massive whale is still very much expecting funds this evening overnight with spendability. A couple are expecting funds tomorrow……others are expecting it anywhere from now until next Tues/Wed…depending on which type of bonds. I am hoping we are closing in at the end of the tunnel…I can see the light.
Member: That means between now and Wednesday for historic bondholders and presently thereafter for us.
Member: Still looking for that light at the end of the tunnel.
Member: Due to the economy, the light at the end of the tunnel has been cut off. Lol
Member: I always worry a little that the light at the end of the tunnel is just the headlight on another train coming to hit you.
Member: Did you hear that Wells Fargo is closing ALL branches in Oregon? Wonder why.
Member: Do we have to have gold backed currency to RV?
MZ: It’s my understanding we go gold backed when we RV . Not before, not after but at the same time.
Member: question: what happens to the forex after IQD RVs/RIs? .... isn't the goal of NESARA/GESARA to establish parity with all currencies??
Member: RV first…..then the reset where currencies go to parity worldwide.
Member: I am really looking forward to this election being done and over.
Member: Just think, only 1 week left of excessive political texts & commercials. woo-hoo!
Member: I’m thinking we’ll RV Election Day. Wouldn’t that be a look here …not there… kind of day.
Member: That would definitely be a distraction
Member: In your educated opinion Mark will we RV this year?
MZ: Yes I very much believe we will see the RV this year.
Member: Thank you and Mark ….keep up the fantastic job as always.
Member: Everyone try to stay positive despite this frustration…….The best is yet to come.
THE CONTENT IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY&NOT INTENDED TO PROVIDE ANY PROFESSIONAL, FINANCIAL OR LEGAL ADVICE. PLEASE CONSIDER EVERYTHING DISCUSSED IN MARKZ’S OPINION ONLY
Tuesday's Newspapers Are Interested In Iraq Submitting A Memorandum Of Protest To The United Nations Regarding The Use Of Its Airspace By Israeli Aircraft In Its Recent Aggression Against Iran And In Today's Parliament Session.
Tuesday 29 October 2024 06:26 | Press Number of readings: 268 Baghdad / NINA / The newspapers issued on Tuesday were interested in Iraq submitting a memorandum of protest to the United Nations for the use of its airspace by Israeli aircraft in its recent aggression against Iran and in today's parliament session.
Al-Zawraa newspaper, issued by the Journalists Syndicate, said that Iraq submitted an official memorandum of protest for the use of its airspace by the Zionist entity's aircraft in its recent aggression against Iran,considering it a violation of sovereignty.
The spokesman for the Iraqi government, Bassem Al-Awadi, announced
that Iraq submitted an official memorandum of protest to the Secretary-General of the United Nations and to the UN Security Council, which included condemnation of the blatant violation committed by the Zionist entity by violating Iraq's airspace and sovereignty. Al-Awadi said in a statement:
"Iraq officially submitted a memorandum of protest to the Secretary-General of the United Nations and to the UN Security Council, which included condemnation of the blatant violation committed by the Zionist entity by violating Iraq's airspace and sovereignty with its aggressor aircraft, and using Iraqi airspace to carry out the attack on the Islamic Republic of Iran, on October 26."
According to the statement, the Prime Minister directed the Ministry of Foreign Affairs to “communicate with the American side regarding this violation, in accordance with the terms of the bilateral strategic framework agreement and the United States’ commitment to Iraq’s security and sovereignty.”
The statement added that “the Iraqi government affirms its firm commitment to Iraq’s sovereignty, independence and the sanctity of its territories, and that it is working at various levels to confront these violations, and stresses that it will not allow the use of Iraqi airspace or territory to attack other countries, especially neighboring countries that have relations of respect and common interests with Iraq.”
He continued: “This position reflects Iraq’s keenness to follow a policy of preserving regional stability by preventing any exploitation of its territories in regional conflicts, and supporting the resolution of disputes through dialogue and mutual understanding.”
Al-Sabah newspaper was interested in the directive of the Speaker of the House of Representatives, Mohsen Al-Mandalawi, to resolve the controversial articles in the general amnesty law, which is expected to be presented during the parliamentary session scheduled for today, which is expected to witness a vote on a number of other laws, including “the Personal Status Law and the Return of Real Estate to Their Owners Law.”
The newspaper quoted a statement from the media office of the acting Speaker of the House of Representatives, "that "Al-Mandlawi chaired a new and expanded meeting of the Parliamentary Legal Committee yesterday, Monday, in the presence of its chairman and members, and a number of representatives, to discuss all the laws submitted for voting and on the agenda of the Council's session today, Tuesday."
The statement added that "the meeting focused on discussing the controversial articles in the draft law amending the second amendment to the General Amnesty Law No. (27) of 2016," indicating that "Al-Mandlawi directed the chairmanship and members of the Parliamentary Legal Committee to expedite their resolution for the purpose of voting on the law in today's session, in addition to voting on the laws (personal status, service and retirement for the Mujahideen of the Popular Mobilization Authority, and returning real estate to its owners covered by some decisions of the dissolved Revolutionary Command Council)."
The House of Representatives is scheduled to hold its fifteenth session of the second legislative term today, Tuesday, which will witness voting on a number of important laws.
A press release issued by the media department of the House of Representatives stated that “among the laws that will be voted on in today’s session is the law on returning properties to their owners covered by some decisions of the “dissolved” Revolutionary Command Council, submitted by the Legal Committee, in addition to voting on the proposed Personal Status Law No. 188 of 1959, Articles 2 and 10, submitted by the Legal Committee and the Women, Family and Childhood Committees.
The statement indicated that the session will also witness voting on the draft law amending the second general amnesty law No. 27 of 2016, submitted by the Legal, Security and Defense, and Human Rights Committees, in addition to voting on the draft law on service and retirement for the Mujahideen of the Popular Mobilization Authority, which was submitted by the Security and Defense, Legal, Finance, Martyrs, Victims and Political Prisoners Committees, which consists of 83 articles.
The statement added that the first reading of the draft law on intellectual property protection submitted by the Culture, Tourism and Antiquities, Media, Legal, Strategic Planning and Federal Service, Education and Scientific Research Committees, which contains 167 Article.
Al-Zaman newspaper focused on the relationship between Baghdad and Washington and said that Baghdad renewed its desire to change the nature of its relationship with Washington, and move from the traditional focus on military cooperation to building a strong economic alliance, reflecting the common desire to strengthen economic ties and deepen the strategic partnership between the two countries.
The statement said that (the Higher Coordination Committee for the Strategic Framework Agreement for Friendship and Cooperation with the United States of America stressed the need to move the relationship with Washington to an economic partnership and not to focus on military affairs), and
Foreign Minister Fuad Hussein, who chaired the committee's periodic meeting in the presence of all representatives of the subcommittees within the Higher Committee, confirmed that (the latest developments in bilateral relations between Iraq and the United States of America were discussed, in addition to reviewing the achievements approved during the recent meetings between the two parties in mid-April in the capital, Washington),
adding that (the meeting touched on future working papers that will be discussed during the upcoming meetings of the committee, scheduled to be held in February of next year, within the agreed upon axes, which include cooperation in the political, diplomatic, security, defense, energy, economic, education, health and environment fields), and
Hussein stressed (the importance of strengthening relations with the United States of America by implementing the provisions of the agreement, and moving the relationship to a solid economic partnership), stressing (the need not to focus only on military and security aspects, but rather to expand cooperation to include economic, health, educational and other fields). / https://ninanews.com/Website/News/Details?Key=1164893
What Putin and China have orchestrated is nothing less than a financial revolution that will de-dollarize the global economy. It's not a vague idea or a distant possibility: it's happening right now.
The BRICS countries are tired of being held hostage by the US dollar, which elites have used as a weapon of mass control for decades. Through endless sanctions, trade restrictions, and financial manipulation, the United States has forced nations to bend to its will or face economic ruin.
But the BRICS alliance changed the situation. With their new currency, they are creating an alternative system that will avoid the dollar entirely. When nations begin trading with this new currency, demand for the dollar will collapse.
The petrodollar system, which allowed the United States to dominate global trade and finance, will cease to exist. And with it, the American economy will implode. Hyperinflation will spread across the United States as the value of the dollar plummets, and elites will be powerless to stop it.
TRANSLATION IN SPANISH
DESDOLARIZACIÓN: El duro golpe al dólar estadounidense
Lo que Putin y China han orquestado es nada menos que una revolución financiera que desdolarizará la economía global. No es una idea vaga ni una posibilidad lejana: está sucediendo ahora mismo.
Los países BRICS están hartos de ser rehenes del dólar estadounidense, que las elites han utilizado como arma de control de masas durante décadas. A través de sanciones interminables, restricciones comerciales y manipulación financiera, Estados Unidos ha obligado a las naciones a ceder a su voluntad o enfrentar la ruina económica.
Pero la alianza BRICS cambió la situación. Con su nueva moneda, están creando un sistema alternativo que evitará por completo el dólar. Cuando las naciones comiencen a comerciar con esta nueva moneda, la demanda del dólar colapsará.
El sistema del petrodólar, que permitió a Estados Unidos dominar el comercio y las finanzas globales, dejará de existir. Y con ello, la economía estadounidense implosionará. La hiperinflación se extenderá por Estados Unidos a medida que el valor del dólar se desplome y las elites serán impotentes para detenerla.
