Friday, April 12, 2024
Mazhar Saleh: The launch of government spending in the coming weeks will constitute 50% of the gross domestic product, 13 APRIL
} The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Friday, that the launch of government spending in the coming weeks will constitute 50% of the country’s gross domestic product.
Saleh told {Al-Furat News} agency, “The launch of government spending after the adoption of the federal general budget schedules for the year 2024 in the coming weeks will constitute the most important incentive in moving the joints of aggregate demand in the national economy.”
He added, “Government spending or demand constitutes approximately 50% of the country’s gross domestic product.”
From.. Raghad Dahham
"RV UPDATE" BY FRANK26, 13 APRIL
Frank26
Iraq is a sovereign nation now with a sovereign currency. Therefore IMO Sudani goes to Washington to deal with Monetary Reform and banking advancement...Billions and billions are retuning to Iraq. It's an incredible amount of money that's coming back. It'll [DFI?] probably come back to them now or after the 15th when Sudani comes back.
...We are in the best position possible. We already went to the banks in Ohio. We already opened an account - Checking/Savings whatever you want...Some banks are willing to talk and say a little bit...I respect those banks.Internal Affairs: The national card will be the basis for all transactions, 12 APRIL
Internal Affairs: The national card will be the basis for all transactions
Economy News – Baghdad
The Ministry of Interior confirmed on Friday that the national card will be the basis for all transactions.
The Director General of Civil Status, Passports and Residency, Major General Nashat Ibrahim Al-Khafaji, said, “There is prior coordination with the Ministry of Commerce and Planning and the Election Commission so that the national card is the basis for all transactions.”
He pointed out that “the basis of electronic governance in the national card is that its data is real, in addition to the presence of a face image, eye print, and fingers, and all of these things were not present in the status records.”
Al-Khafaji added, “Any citizen can be easily identified in the national card system, so the Prime Minister and the Minister of Interior paid great attention to the project and the cadres are able to register all Iraqis.”
https://economy-news.net/content.php?id=42399
"RV UPDATE" BY PIMPY, 12 APRIL
Pimpy
There still seems to be some major confusion about what a real effective exchange rate is versus an actual nominal exchange rate...A Real Effective Exchange Rate is for assessing its trade capabilities...an increase in the nations REER is an indication that the exports are becoming more expensive and its imports are becoming cheaper. It is losing its trade competitiveness. So the REER is used to check out its competitiveness with other trade partners. That's it...It's not the same thing as a nominal exchange rate...
I read this book [ Quest For Good Money]...I kept playing with the numbers, reading my ass off...This is the formula they use [to determine the exchange rate]...The person that wrote the book said if they can get their inflation down, at it is down,...
and they can catch up to their dinar price parity...it should be at the pre-war rate...which is over $3.00. So I did the formula based on all the information they gave me, it came out to $3.56...I said wow, that's going to be phenomenal...that is worth getting excited about...The study does tell you that there's no reason Iraq can't be the most valuable currency out there...The question is always going to be whether they re-denominate or not.
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Frank26 [Bank story] This time we didn't go down, we just called [the bank]... We said we want to see if we can exchange some cu...
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...