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Parliament finances confirm high size of 2024 budget. What are the reasons for the delay in sending it?, 24 MARCH

 Parliament finances confirm high size of 2024 budget. What are the reasons for the delay in sending it?

 Economy News - Baghdad

The Parliamentary Finance Committee confirmed on Saturday the increase in the size of the federal budget to 207 trillion dinars, explaining the reasons for the delay in the arrival of the general federal budget tables to the House of Representatives for approval.

Mueen al-Kadhimi, a member of the parliamentary finance committee, commented on the issue by saying that the delay occurred at the Prime Minister's Office or by the Office of the Advisory Committee.

Al-Kazemi explained that "the ministries of finance and planning have completed their work regarding the budget tables, as the amendments were supposed to be sent before the end of 2023."

"If the amendments are sent, the House Finance Committee will review them and then present them to the House for approval," he said.

He pointed out that "the approved budget is a tripartite budget for the years 2023, 2024 and 2025, and it is natural that amendments will be made by the government to some figures that it deems necessary," noting that "the amendments led to an increase in the size of the budget from 199 trillion dinars to 207 trillion Iraqi dinars."

Earlier in the day, the Legal Committee announced that the 2024 fiscal budget tables were imminent to reach the House of Representatives.

The Ministry of Finance announced on the thirteenth of March the completion of data related to the 2024 budget tables, the inclusion of texts and their submission to the Council of Ministers

"RV UPDATE" BY FRANK26, 24 MARCH

  Frank26 

 When this blessing occurs don't run to the bank.  Don't trip over yourself and others.  Walk.  Take your time.  Learn.  Look.  Ask questions.  Learn from other's mistakes.  That's what a wise person does.   Don't run to the bank.  Take your time and understand exactly what you're doing.  [NOTE:  Be sure you're on the Dinar Guru Official Alert list.  You'll get the good bad and ugly of exchange. Enter your name and email in the blue box at the top of this page...it's free.] 

 The only thing we're waiting for is the new exchange rate.  The HCL is waiting for the new exchange rate.

Iraqi Dinar - IQD Update - Iraqs Accession Law - Integration Regionally ... BY MILITIAMAN

Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second, 24 MARCH

 Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second

 Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years.

According to the Statista website, natural resources are the raw inputs used to make everything that is used, from intermediate goods to final products, and these resources are found in the ground among reserves that have not yet been extracted.

According to Statista estimates, Russia came in first place, with the value of its natural resource reserves amounting to $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.

The United States came second, and the estimated value of its natural resources is estimated at about 45 trillion dollars, approximately 90% of which is wood and coal.

Iraq ranked ninth, as it possesses $15.9 trillion in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the site. 

Iraq is the second largest producer of crude oil in OPEC, ranks fifth in the world in possessing proven crude oil reserves, and relies on the export of crude oil to obtain a large amount of its revenues.  link

"RV UPDATE" BY CLARE, 24 MARCH

 Clare 

 Article "Statement from Press Secretary Karine Jean-Pierre on the Visit of Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House"  Quote "On April 15, President Joe Biden will welcome Prime Minister Mohammed Shia’a Al-Sudani of Iraq to the White House to coordinate on common priorities and reinforce the strong bilateral partnership between the United States and Iraq."    

Article:   "Al-Sudani intends to visit Washington to lift the ban on banks prohibited from dealing in dollars"  

Quote: "The head of the Iraqi Securities Commission, Faisal Al-Haimas, announced that three Iraqi banks were sanctioned by the US Treasury, and 25 banks were banned from dealing in dollars  ;."

 Article: "The Central Bank announces an understanding with the US Treasury to reconsider sanctions and indicates 'illegal trade' "

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