A government advisor announces the entry into force of the 2024 budget , 2 JAN

  A government advisor announces the entry into force of the 2024 budget

1/1/2024

The economic and financial advisor to the Prime Minister, Mazhar Muhammad Saleh, announced today, Monday, that the 2024 budget has entered into force.

Saleh said {to Al-Furat News} that: “The federal general budget issued pursuant to Law No. 13 of 2023 is a tripartite budget, that is, it was enacted for three years, and therefore the entry into the new fiscal year 2024 has been automatic from today.”

He explained, "This is based on the adoption of the federal general budget for the year 2024, and the 12/1 exchange rule does not currently exist in accordance with the amended Financial Management Law No. 6 of 2019 until the beginning of the year 2026 if the financial situation at that time requires its application."

Saleh added, "This rule, i.e. disbursement 12/1, also depends on the timing of the 2026 budget legislation."

From: Raghad Dahham   LINK

"RV UPDATE" BY FRANK26, 2 JAN

 Frank26 

  Question: "Is there a chance de-dollariztion could be delayed...and they keep using the dollar?  No, no, no no no...You can't change the speed of light.  

 Question:  "What would be the punishment for using the dollar after the 1st?"  First time a big fine.  If you continue, a bigger fine and the third one, jail.

 Do we hold them or do we fold them? We have a lot to consider...  

  It's still at 1310...Right now.   Don't you understand [the dinar] is being put into a position to change the rate?  It's that simple.  It's not complicated.  It's that simple at this simple step...That's what you're seeing.  That's what you're witnessing. 

Question:  "Is Iraq going forward with only dinars as of January 1st?"  Yes and that is the key...the next 24 hours is a very important key to see if they use it to unlock the monetary reform....If the Iraqi citizens have absolutely no other currency but the dinar to use in their country...how are they going to do it with a 3-zero note that has almost no value to it?

Salah this morning BY NADER FROM MID EAST

The most important of which is security... Al-Rafidain lists seven advantages of electronic payment, 2 JAN

  The most important of which is security... Al-Rafidain lists seven advantages of electronic payment

1/1/2024

 Today, Monday, Rafidain Bank indicated 7 features of the electronic payment system in Iraq.
The bank stated, in a statement received by Al-Mutala’, that: “Electronic payment consists of:

1- Switching from dealing in manual cash to electronic cash.

2- Moving from a cash society to a cashless society and leaving cash payment to electronic card payment.

3- Collecting and collecting funds electronically.

4- Using POS devices in financial and commercial transactions.

5- Proceeding with plans for financial inclusion and digitization in banking transactions.

6- Establishing a culture of bank financial accounts instead of using direct cash.

7- Adopting an electronic card is safer than carrying cash and moving around in markets and other places.   LINK

"RV UPDATE" BY MILITIAMAN, 2 JAN

 Militia Man 

 All of this is coming together. There's no reason for any pessimism or snide remarks for anybody around in dinarland... There's shouldn't be any doubt anymore that this is a real process and it's underway...

Iraq is going to be interconnecting with international countries and they're going to be doing it by International standards and guess what they're not going to be doing that with a 1310 program, or I call it, a  punishment rate..

 The facts are in the pudding. 

 Anybody that says it's never going to happen has not done any study...When people do that I think it's reckless and I don't think they've done their research properly...

Iraq Dinar - Dispursing Payments - Stage Set for Internationalism - Timi...by MILITIAMAN

Expectations of achieving low dollar prices as benefits for the Iraqi individual, 1 jan

 Expectations of achieving low dollar prices as benefits for the Iraqi individual

The economist, Bask Jamil Antoine, expected to achieve a decrease in dollar exchange rates with interest to the Iraqi individual.

“The low exchange rates of the dollar can bring benefits to the economic reality of the individual if a balanced society is available,” Antoine said {Euphrates News}.

He stressed “the need to follow up the pockets of speculators and traders who do not lower prices even if the dollar exchange rate falls.”

“The dollar directly affects imported goods, but goods that are produced locally, we do not expect that their impact will be significant,” Antoine explained.

To reduce dollar prices in the local market, the Central Bank of Iraq, on Sunday, determined the parties covered by obtaining their foreign transfers in cash in dollar currency starting from January 2, 2024.

This included foreign remittances for diplomatic missions, all international organizations and agencies operating in Iraq, and non-governmental civil society organizations registered in the General Secretariat of the Council of Ministers in the event that the foreign donor stipulated the payment of foreign remittances received in dollar currency inside Iraq.

It also included government contracts in force in US dollar currency, and continuous contracts on grants, loans and foreign agreements,” noting that “40 percent of the remittances received by Iraqi exporters resulting from their exports abroad.

Selling prices in banking shops in local markets in Baghdad were recorded on Monday, 153,250 dinars, while the purchase price was 151,250 dinars per 100 dollars.

From: Raghad Daham

https://alforatnews.iq/news/توقعات-بتحقيق-أنخفاض-اسعار-الدولار-فوائداً-للفرد-العراقي