DINAR REVALUATION

Sunday, May 12, 2024

Peter Schiff and Steve Hanke Debate Inflation, Debt Crisis, Dedollorization

Economist: Tax Revenues From The Private Sector Should Be 4 Trillion Dinars Annually, 12 MAY

Economist: Tax Revenues From The Private Sector Should Be 4 Trillion Dinars Annually

Economist Manar Al-Obaidi confirmed that “tax revenues from the private sector should be 4 trillion dinars annually.”

Al-Obaidi told Al-Iqtisad News, “There are more than 8 million economically active people working in the private sector, and based on the average monthly income being around 600 thousand dinars, the value of the revenues collected for people in the private sector amounts to about 4 trillion Iraqi dinars, taking an average of the income tax rate.” The monthly rate is 7%.

He pointed out that the value of the monthly tax that is supposed to be paid by economically active people in the private sector is approximately 280 billion Iraqi dinars, while the annual tax is approximately 3.5 trillion Iraqi dinars.

This does not include the income tax imposed on employees in the public sector and salaries amounting to 40 trillion dinars annually, with a tax rate of 7%, so it will be The amount of income tax from public sector employees is 3 trillion dinars.

He stressed that unfortunately there is no clear data on the amount of tax that is supposed to be achieved compared to what is achieved, but the tax alone is capable of generating revenues of a minimum value of 10 trillion dinars annually, and it may reach 15 trillion dinars. Views 46 05/11/2024 - https://economy-news.net/content.php?id=43326

"RV UPDATE" BY PIMPY, 12 MAY

Pimpy

Question: "Why are you investing in the Iraqi dinar?"

Because I think it's going to change in value and I can benefit from it.

Let's hope it [ascension to full WTO member] happens quickly but it's not going to be done by [the end of] 2024.

There are a ton of reforms especially in the banking sector. They're getting there but they're not 100% there yet as far as confidence in the currency. Nobody has confidence in it besides those who are invested in it. It's not that they have confidence in Iraqi dinar, they're hoping there's a big difference..

.There's years and years of history shows you Iraq constantly screws up and ends up back on square one. You can't blame people for being negative. IMO Iraq has taken all the steps necessary to get there but they're not there yet. Give it time...

FRANK26…..5-11-24…..FIL ME UP

Minister Of Oil: Soon We Will Announce The Increase In Iraq’s Oil Reserves To 160 Billion Barrels, 12 MAY

Minister Of Oil: Soon We Will Announce The Increase In Iraq’s Oil Reserves To 160 Billion Barrels

Economy | 05/11/2024 Mawazine News – Baghdad The Minister of Oil, Hayan Abdul Ghani, confirmed today, Saturday, that the Iraqi oil reserves will soon be announced to rise to more than 160 billion barrels.

Abdul Ghani said, in his speech during the launching ceremony of the fifth supplementary licensing round and the sixth round, followed by Mawazine News, that “the supplement to the fifth licensing round and the sixth licensing round are part of the government program.”

He added, "Today, the Ministry is offering 29 promising projects within these licenses to advance industry and gas wealth."

He continued, "Licensing rounds have the effect of adding two million barrels of oil to national production," stressing that "these projects will provide job opportunities, stimulate the economy in those areas, and meet the growing needs for gas."

He stressed "the imminent announcement that Iraq's oil reserves will rise to 160 billion barrels."

https://www.mawazin.net/Details.aspx?jimare=247744

EUROPEAN BANKING AUTHORITY MICA ANNOUNCEMENT BY GOLDILOCKS, 12 MAY

EUROPEAN BANKING AUTHORITY MICA ANNOUNCEMENT

"The EBA publishes final draft technical standards under the Markets in Crypto-Assets Regulation (MICA)"

Specifically, stablecoins and tokenized assets are currently in the comment stage and ready for the white papers.

A white paper is a final document ready for implementation for business owners in an industry to utilize as a reference guideline. In this case, this particular white paper is for countries around the world to use these stablecoin and asset regulations as a guideline for creating a standardized stablecoins and digital assets they can use Globally.

Remember, Stablecoins and Market assets are a digital representation of a country's currency and the assets they pay for going forward. The standardization process of our Global currencies is currently in their final phases. EBA Europa CorporateFinanceInstitute