Tuesday, April 30, 2024
"AS WE SHARED WITH YOU FAMILY" BY FRANK26, 30 APRIL
KTFA
FRANK26: "AS WE SHARED WITH YOU FAMILY"....F26
Sudanese Advisor: The 2024 budget has entered into force... and there is no need to send its schedules to Parliament
4/28/2024
Today, Sunday (April 28, 2024), the financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh, commented on the implementation of the 2024 budget without its schedules being approved by Parliament.
Saleh said, to “Baghdad Today,” that “the experience of the tripartite public budgets approved under the Federal General Budget Law No. 13 of 2023 (the tripartite budget) has become a binding law to be applied regularly and in an annual hierarchy without interruption and in accordance with public finance applications in implementing the details of the general budget itself.” In both its operational and investment aspects, and because the application of the three-year budget experience as a medium-term financial plan has been approved in our country for the first time, in accordance with a text contained in the amended Federal Financial Management Law No. 6 of 2019.”
He stated that “the general budget for the year 2024 has become obligatory to implement since the country entered its new fiscal year and in accordance with the laws and financial and economic data contained in the texts of Law No. 13 of 2023 mentioned above, including operational expenses and investment expenses for current and new investment projects, as long as they occur.” Within the general budget constants No. 13 above.
Saleh stressed, “The text stated in the Tripartite Budget Law that the executive authority submits tables related to expenditures, revenues, and the estimated deficit for the current fiscal year 2024 is a constitutional and supervisory context and falls within the duties of the legislative authority. Based on the above, working with the constants of the Federal General Budget Law (The tripartite budget does not conflict with the progress in implementing the requirements of the national development projects programme, especially in implementing new whose allocations are approved within the law, and that This executive mechanism is the basis on which the tripartite budget philosophy was based, which provided legal flexibility in advancing the wheels of economic development projects without time delays and loss of time opportunities. Therefore, presenting the expenditure and revenue schedules for the fiscal year 2024 a context undertaken by the legislative authority within its constitutional oversight duties to ensure the progress of implementation of the federal tripartite budget law.”
LINK
"RV UPDATE" BY WOLVERINE, 30 APRIL
Mon. 29 April Wolverine: Beginning April 30, 2024
there will be a Market Reset in all Market sectors, including Forex. Everyone is ready. The Depository Trust Company has sent notice that Corporate notes or bonds, Crypto currencies, Bitcoin, or any asset in the future that is not backed by a commodity has a risk of decline in value (based on real-world assets) when the market resets to a new set of values that begins on Tues. 30 April.
A specialist identifies the reasons for the decline in the value of the dollar against the Iraqi dinar, 30 APRIL
A specialist identifies the reasons for the decline in the value of the dollar against the Iraqi dinar
Shafaq News/ The official spokesman for the currency market in Sulaymaniyah, Jabbar Gorran, revealed today, Monday, the reasons for the decline in the value of the US dollar against the Iraqi dinar, pointing to the importance of the visit of Iraqi Prime Minister Muhammad Shiaa Al-Sudani to the American capital, Washington.
Kuran told Shafaq News Agency, “The main reason for the decline in the value of the dollar against the dinar is the impact of the Sudanese visit to Washington, which led to an increase in American support for the Iraqi economy, and the optimism of the American parties regarding infrastructure and government reforms in the banking system in Iraq.”
He added, “The dollar has declined against the dinar in recent days due to a number of factors, the most important of which is the use of smart cards that enable business account holders to withdraw dollars abroad, which is a good reason for the decline in the value of the dollar.”
According to Kuran, the other reason for the decline in the value of the dollar against the dinar is the visit of Turkish President Recep Tayyip Erdogan to Baghdad, which resulted in several agreements on a number of issues, including that trade exchange be in the Iraqi dinar and the Turkish lira, indicating that the volume of trade exchange between Iraq and Turkey ranges Between 20 and 24 billion dollars annually, and dealing in the dinar and the Turkish lira will reduce the demand for the dollar.
He stated that “all transactions with countries previously were in US dollars, but according to recent agreements, Iraq will be allowed to use other currencies in its transactions. In recent days, a delegation from the Central Bank of Iraq visited Saudi Arabia and it was agreed that future exchange would be in the currency that is dealt with in that country.” “.
Kuran pointed out, “Previously, when citizens received their salaries, they converted part of their salaries into dollars to pay off housing or car loans or any other money owed to them, but now most of these transactions have been converted into the local currency, so people do not need dollars.” .
He pointed out, “It is unlikely that the dollar will fall below 1,400 dinars per dollar because it is too early and the central bank has reached its goal, but it may reach 1,420 dinars per dollar.”
Shafaq News Agency correspondent reported this morning that dollar prices declined with the opening of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 144,750 Iraqi dinars for every 100 dollars, while yesterday, Sunday, dollar prices recorded 145,700 Iraqi dinars for every 100 dollars.
Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 145,750 dinars, while the purchasing price reached 143,750 dinars for every 100 dollars.
In Erbil, the dollar also recorded a decline in banking shops, where the selling price reached 145,200 dinars against the dollar, and the purchase price reached 145,100 dinars against 100 dollars.
shafaq.com
"RV UPDATE" BY JEFF AND BREITLING, 30 APRIL
Jeff
Mid last week I posted "The Final Countdown" ...Here's the reason why right here...The approval of Iraq's budget is waiting on the rate change. That's why it's been outstanding/ pending for 6 weeks. This week we're entering into will be its seventh week. In order for them to complete and approve, the budget is waiting for the rate to change ...You're seeing countless articles on this. This is a critical piece to the timing of the rate change.
Breitling
When I did the evaluation [of the dinar] it was against countries and currencies that had lopped. I had the same questions as you guys when I invested. Where is this going? How can this work? I found out the value was in a policy based inflation, they want to add value to it, they injected US dollars into the economy, devalued the dinar. The dinar you and I have has nothing to do with hyper-inflation, major market problems or anything like that...Yes, they can add value to currencies that have a lot of zeros behind it. Iraqi dinar is stable. They can and are going to add value to it.
Coffee with MarkZ. 04/29/2024
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