Is The Government Moving To “Adjust” The Budget To Reduce The Deficit?, 2 JAN

 Is The Government Moving To “Adjust” The Budget To Reduce The Deficit?

Politics |Today, Baghdad today – Baghdad  Economic affairs researcher Haider Al-Sheikh revealed today, Monday (January 1, 2024), a government intention to amend the budget for the three years in an attempt to control the deficit.

The Sheikh told "Baghdad Today", "There is a tendency among the government to make an amendment to the draft law on the general budget of the Iraqi state for the three years, which was approved by the House of Representatives last June."

He added, "There will also be some amendments made to some articles of the budget law, including making financial transfers and reducing unnecessary expenditures."

He pointed out that "all of this will contribute to reducing the expected fiscal deficit in 2024 to 40 trillion dinars," pointing out that "the Ministry of Finance will work to amend the draft and send it to the Council of Ministers, and after its approval in the Council, it will be sent to the House of Representatives as a legal text to amend the budget law."

The current budget is the largest in the country’s history, amounting to approximately 153 billion dollars per year, with a large financial deficit estimated at about 48 billion annually, which is the highest and more than double the deficit recorded in the last budget for the year 2021, when it reached 19.7 billion. LINK

"RV UPDATE" BY PIMPY, 2 JAN

 Pimpy

  Article:  "The central Bank determines the entities covered by obtaining their remittances in dollars starting Tuesday"  As we all know...Iraq decided to de-dollarize.  They're no longer going to use the dollar.  Quote:   "Central Bank of Iraq specified the parties covered by obtaining their foreign transfers and cash and dollar currency starting from January 2nd. .."  They are definitely going to drastically reduce the use of the US dollar.

Article "Iraq is ranked 4th in the list of the most dynamic countries with foreign investment"   quote "Iraq ranked 4th among 10 countries with the growth of foreign investment momentum until 2024 with a growth rate in expanse of more than 370% from 2021 until the end of 2023 according to a report by the Foreign Direct Investment (FDI) website."  This is really good for Iraq.  

🔥Iraqi Dinar🔥First Time a Big🔥News Guru Intel Update IQD Value to USD🤑💵🤑🎉

A New Rise In Dollar Prices In Iraqi Markets.. This List, 2 JAN

 A New Rise In Dollar Prices In Iraqi Markets.. This List

Economy  2,295 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Monday, January 1, 2024.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 152,250 dinars for 100 dollars, while selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 153,250 Iraqi dinars, while the purchasing price reached 151,250 dinars for every 100 dollars.

On February 7, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

For about a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets.  LINK

"RV UPDATE" BY NADER FROM MID EAST, 2 JAN

  Nader From The Mid East 

 Happy New Year, best wishes and all that stuff...A lot of people are sending me messages going like do you see any changes?  ...I don't know why you're asking me that. What you guys heard?  Who told you anything? 

 Some people wrote me tonight at midnight the currency will be launched.  Some people said their new rate will come out tonight at midnight ...I didn't see anything like that.  They didn't say they're going to change the rate tonight.  They didn't say they're coming out with currency tonight... They'll never tell you they're coming out with it...I'm not expecting anything tonight...

 I hope it gets 1 to 1.  I'd be happy with that...Let's see what's going on with the budget and the elimination of the dollar.   Let's wait for the best and expect the best.

Iraqi Dinar🔥Iraq's Getting Ready For New Exchange Rates In 2024🔥iraqi di...

Within 8 Months, 80 Million Barrels Of Iraqi Oil And Its Products Were Exported To America, 2 JAN

Within 8 Months, 80 Million Barrels Of Iraqi Oil And Its Products Were Exported To America

2024-01-01 Shafaq News/ The US Energy Information Administration announced on Monday that Iraqi exports of crude oil and its products to the United States amounted to about 80 million barrels during eight months of 2023.

The administration said in a table seen by Shafaq News Agency, that Iraq exported 79.346 million barrels of crude oil and its products to America from March until October

She added that Iraq's exports of oil and its derivatives in October amounted to 9.116 million barrels, 727 thousand barrels lower than what they recorded in September, when they reached 9.843 million barrels.

The US Energy Information Administration stated that OPEC's exports of crude oil and its products to America during the eight months amounted to 342.472 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 1.426 million and 159 thousand barrels during the same time period.  LINK