A deficit exceeding 75 trillion, and this is the date of its arrival.. Parliament’s finances talk about the 2024 budget, 13 MAY

 A deficit exceeding 75 trillion, and this is the date of its arrival.. Parliament’s finances talk about the 2024 budget

5/13/2024  Baghdad

Today, Monday, the Parliamentary Finance Committee expected the schedules of the general budget law from the government to reach the House of Representatives this week, while it determined the expected deficit percentage.

Committee member Faisal Al-Naeli said, in an interview followed by Al-Iqtisad News, that “the House of Representatives is awaiting the arrival of the budget schedules and the start of discussing its provisions and making the necessary amendments to them by the Finance Committee to ensure the proper implementation of the government curriculum.”

He pointed out that "indicators confirm that the schedules will reach the House of Representatives this week in order to proceed with their approval as quickly as possible."

In turn, a member of the Parliamentary Finance Committee, Moin Al-Kadhimi, revealed the expected deficit in the current year’s budget, indicating that it may exceed 75 trillion dinars.

Al-Kadhimi said, “The current year’s budget amounts to 228 trillion dinars, with a planned deficit of up to 75 trillion.”

He added, "The budget included total revenues and spending in the amount of 150 trillion dinars, indicating that the government seeks for actual spending to be 228 trillion."

He pointed out that "the committee will amend the budget schedules during the second reading."  LINK

"RV UPDATE" BY MIKECRISTO, 13 MAY

MIKECRISTO8

The BRICS countries will buy these China bonds (yuan now backed by gold),

which China will give them a better exchange rate to hold CNY vs. USD.

China is ready to internationalize the RMB

There’s your de-dollarization

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The Young Pretender

@Dioclet54046121

1h

The BRICS deputy finance ministers and central bank governors may well be overseeing the #gold revaluation, and issuing a statement from their meeting on 28th May, after the revaluation has taken place, ready for the ministerial meeting in June. 

https://x.com/realpepeescoba/RealPepeEscobar/status/1790076772177838582?t=okhsCgDuqvPl-1ZadgDS5g&s=19

Iraqi Dinar update for 05/13/24 - Great news from Iraqi Stock exchange

The Iraqi Parliament decides to elect its new president next Saturday , 13 MAY

  The Iraqi Parliament decides to elect its new president next Saturday

5/13/2024

The Iraqi Parliament has set next Saturday as the date for electing its new president.

The media of the Iraqi House of Representatives said in a brief statement received by Shafaq News Agency, that the Presidency of the Council decided to hold a session on Saturday, May 18, 2024, to elect the Speaker of the House of Representatives.

An informed political source told Shafaq News Agency that the “Taqaddum” Party and the “Sadara” Bloc decided to present Mahmoud Al-Mashhadani as a candidate for the presidency of Parliament.

Al-Mashhadani, (75 years old), headed the Iraqi Council of Representatives from 2006 to 2009.

According to the source, the nomination was supported by Muhammad al-Halbousi, with the withdrawal of Talal al-Zubaie, leaving al-Mashhadani to remain a solo candidate, facing Salem al-Issawi.

The "Sadara" parliamentary bloc announced, after midnight on Saturday, joining the "Taqaddum" coalition led by Muhammad al-Halbousi, in a decision that would advance a candidate for the presidency of the Iraqi parliament.   LINK

"ABOUT ZIMBABWE AND THE BRICS" BY GOLDILOCKS, 13 MAY

GOLDILOCKS

 Currently, indications are pointing at Zimbabwe, together with Argentina and Saudi Arabia, being officially announced as new members of the NDB at the BRICS summit to be held in South Africa this August.

https://www.herald.co.zw/zimbabwe-makes-headway-towards-joining-brics-bank/

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Navigating the New Frontier: Updates to Federal Onshore Oil and Gas Leasing Rules and Regulations" 

These new rules and regulations for the oil sector has reached its final stages. And now, the transition into the energy sector of our markets that includes solar power and electric cars will proceed.

© Goldilocks

https://www.jdsupra.com/legalnews/navigating-the-new-frontier-updates-to-4442845/

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Crypto Regulations Act update for the US:

"Today, the House Committee on Rules publicly noticed its intent to consider the Financial Innovation and Technology for the 21st Century (FIT21) Act, clearing a pathway for a floor vote later this month. 

The FIT for the 21st Century Act is an important first step towards achieving regulatory clarity for digital assets. FIT21 provides the robust, time-tested consumer protections and regulatory certainty necessary to allow the digital asset ecosystem to flourish in the United States." 

After this vote, you can expect movement towards the Senate to come soon after in order to meet those deadlines for June 30th, 2024 for the European Union. 

China is already in the regulatory process, and expected to coordinate with a global efforts of Europe and the US.

© Goldilocks

https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409251

https://dailycryptoup.blogspot.com/2024/05/us-regulatory-clarity-for-crypto.html?m=1

Iraqi Dinar update for 05/13/24 - Great news from Iraqi Stock exchange

Iraq signs MoU with Honeywell to support energy sector , 13 MAY

 Iraq signs MoU with Honeywell to support energy sector

Baghdad today - follow-up

Today, Monday (May 13, 2024), Iraq signed a memorandum of understanding with the American company "Honeywell" to support the energy sector in the country.

Honeywell CEO Ken West said in a press statement, followed by Baghdad Today, that "these agreements allow the company to explore opportunities for strategic cooperation in Iraqi oil and gas fields, including stopping the burning of gas associated with production operations and providing development, automation and control services." Remote monitoring.

He added, "The memorandums of understanding were signed during a meeting hosted by the American Chamber of Commerce, accompanied by members of his team, with the participation of Prime Minister Muhammad Shiaa Al-Sudani, along with an elite group of high-level officials in the government and prominent companies in the private sector."

"Honeywell has made significant achievements in Iraq, and we look forward to bringing these agreements into effect," West said, stressing that "there is huge potential for growth and cooperation to enhance the levels of reliability and sustainability of the energy sector for Iraqis across the country."

"These agreements come as part of Honeywell's commitment to provide the best global solutions and expertise to help raise the levels of efficiency and sustainability within the country's energy sector. It also reflects the company's efforts to align and strengthen its portfolio with three mega trends, including the energy transition."

Mohammed Shabout, president of Honeywell in Iraq, said, "These agreements reflect the firm commitment of Honeywell and the private and public sectors in Iraq to continue working on modernizing and developing the local industry."

"The focus is increasing on the energy sector where we all have to invest in the necessary technology and work to provide a better energy future for the entire region," he said.

Honeywell has been operating in Iraq since the seventies and recently appointed Mohammed Shabout as the company's regional head of Iraq.