"KTFA... YOU WILL NEVER SEE 1 TO 1 REMEMBER.......... PARLIAMENT WILL NEVER SEE THE BUDGET... REMEMBER THAT" BY FRANK26, 15 MAY

KTFA

FRANK26: "KTFA... YOU WILL NEVER SEE 1 TO 1 REMEMBER.......... PARLIAMENT WILL NEVER SEE THE BUDGET... REMEMBER THAT"..........F26

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 MARKZ, 15 MAY

  MarkZ  

 [via PDK]  

 Gold is up in Iraq- meaning Iraq’s gold reserves rose significantly. They are preparing to be unplugged from the SWIFT.  To do that they are going to need a new value.

We are looking for a lot of information throughout the day today.  Question: Are we close? 

  MarkZ:    If all goes well today- we should know how close we are. And what we are hoping was initiated yesterday with a lot of funds...I have a good feeling about the next couple of days. I think we are going to see positive things today and tomorrow…to let us know where we are at in the process...

I still continue to hear phenomenal hopes from bankers for the coming days/weeks.

 Question:   Does the VND have a contract rate? 

 MarkZ:   I wouldn’t call it a contract rate – more like a pre-negotiated fee/whatever for a maximum rate. The reason there is a contract rate on the IQD is the dinar for oil program …allowing them (US Treasury?) to exchange dinar for oil over time instead of all at once.

 There have been a few humdingers from banking sources this week. Mostly banking people who used to tell me I was nuts to believe in the RV - are now training for exchanges. They tell me “all those years and you were right” which does make me feel good.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-markz-11-may.html

🔥 Iraqi Dinar 🔥 MANAGED FLOAT AT $4 🔥 News Guru Intel Update Value IQD E...

Iraq raises its gold reserves to exceed 145 tons, 15 MAY

Iraq raises its gold reserves to exceed 145 tons

Mawazine News Baghdad

Iraq’s gold reserves rose significantly during February 2024, as IMF data showed that Iraq had increased its possession of the precious metal by 3.079 tons, bringing the total to 145.661 tons.
This increase indicates that Iraq’s strategy continues to diversify its foreign reserves and promote long-term financial and monetary stability.
Gold is a traditional safe haven for investors, especially in periods of economic and geopolitical uncertainty.
The move comes by Iraq at a time when the world is witnessing a rise in gold prices, as the price reached its highest level in its history last month above $2,400 an ounce.
Iraq is among the countries that have large amounts of gold reserves in the Arab region, where it ranks fourth after Saudi Arabia, Algeria and Morocco.
In general, this increase in Iraq’s gold reserves is a positive indicator of the health and strength of the Iraqi economy.

https://www.mawazin.net/Details.aspx?jimare=247934 

"RV UPDATE" BY MILITIAMAN, 15 MAY

  Militia Man  

  There is an existence of the Chapter VII charter of the United Nations that has not yet been resolved.  It's... still restricting the sovereignty at the international level.  The pressure is on and it looks like the UN is waving that flag to Iraq reminding them that there is that component still. 

Iraq is going to be watching and waiting for their purchasing power...They have revenue streams from all different angles...You got natural resources galore - oil, liquid natural gas, tourism... agriculture...Are they going to be able to support a value of there currency?  Of course they are.  They were $3.22 back when oil was at $35.  What if you added on to that all those things I just mentioned? 

 Article:  "Floating the dinar returns to the forefront will the Central Bank of Iraq resort to it and what the risks?"  The bottom line is Iraq is going to make an exchange rate change.  They've told you about it...A managed float is a mix of a fixed and a float... Are they going to change it to a free float?  Probably not because there's a lot of risks at that stage...Ultimately what is their goal?   Raising the value of the dinar against the dollar.  That's what they're going to be trying to do..

We all know the project to delete the zeros has been on the table now for many years but it was taken off the table, back on the table...The delete the zeros is all about what?  Creating value.  

1310 to buy widgets is in the hundreds of trillions and their budget is in the hundreds of trillions.  They don't even have that much money printed.  They don't even have it on their M1 etc at this point in time.   They never have.  There's got to be an adjustment...

--

Article: "Iraqi Council of Ministers approves the 2024 budget schedules" 

 The next step would be to take those schedules and deliver them to the House of Representatives.  If we see that, that's going to be powerful because everybody's gonna be biting their nails because it could very well suggest something could happen prior to that happening.  It's a nail biter...

Article: "Specialist: Floating the dinar is economic suicide"  

Them bringing up exchange regimes obviously...they're going to do something because why talk about it if it's not going to change.  You don't.

 Non-oil revenues...Iraq has the largest sulfur deposit in the world.  They can tap into that.  It's going to be part of their non-oil revenues.  The amount of natural resources Iraq has is off the charts.  Anything that suggests they can't afford to do what they're going to do and go to a market economy I think is highly mistaken.

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-militiaman-8-may.html

🔥 Iraqi Dinar 🔥 After 20 Years IQD $3.40 🔥 News Guru Intel Update Value ...

Nechirvan Barzani and Al-Sudani stress the continuation of the dialogue to reach a sustainable solution to the outstanding issues, 14 MAY

Nechirvan Barzani and Al-Sudani stress the continuation of the dialogue to reach a sustainable solution to the outstanding issues

Shafaq News/ The President of the Kurdistan Region, Nechirvan Barzani, and the Prime Minister of the Federal Government, Muhammad Shiaa Al-Sudani, stressed this evening, Tuesday, the necessity of continuing dialogues and understandings to resolve the outstanding issues between Baghdad and Erbil in accordance with the constitution and the law.

A statement from the Presidency of the Region received by Shafaq News Agency stated that Barzani met with Al-Sudani in the capital, Baghdad, and they exchanged views on the general situation in Iraq and the Kurdistan Region and common issues between the two sides. They also discussed the federal government’s work program and plans and strategies for economic development in Iraq.

In another aspect of the meeting, many issues of common interest were discussed between the federal government and the Kurdistan Regional Government, emphasizing the continuity of dialogue between the two sides in all fields to reach a sustainable solution on the basis of the constitution and the law.

The President of the Kurdistan Region, Nechirvan Barzani, arrived today, Tuesday, in the federal capital, Baghdad, and upon his arrival met with the President of the Federal Court, Jassem Al-Amiri, and the President of the Supreme Judicial Council, Faiq Zaidan.

The official spokesman for the Presidency of the Kurdistan Region, Dilshad Shihab, stated earlier today that President Nechirvan Barzani will meet with Federal Prime Minister Muhammad Shiaa Al-Sudani to discuss Erbil-Baghdad relations and issues of common interest.

At the end of last April, the President of the Region made a visit to the federal capital, Baghdad, and held meetings with the Presidents of the Republic, the Ministers, and a group of political party leaders. He also participated in a meeting of the State Administration Coalition.

https://shafaq.com/ar/%D8%B3%DB%8C%D8%A7%D8%B3%D8%A9/%D9%86%D9%8A%D8%AC%D9%8A%D8%B1%D9%81%D8%A7%D9%86-%D8%A8%D8%A7%D8%B1%D8%B2%D8%A7%D9%86%D9%8A-%D9%88%D8%A7%D9%84%D8%B3%D9%88%D8%AF%D8%A7%D9%86%D9%8A-%D9%8A-%D9%83%D8%AF%D8%A7%D9%86-%D8%B9%D9%84%D9%89-%D9%85%D9%88%D8%A7%D8%B5%D9%84%D8%A9-%D8%A7%D9%84%D8%AD%D9%88%D8%A7%D8%B1-%D9%84%D9%84%D9%88%D8%B5%D9%88%D9%84-%D9%84%D8%AD%D9%84-%D9%85%D8%B3%D8%AA%D8%AF%D8%A7%D9%85-%D9%84%D9%84%D9%85%D9%84%D9%81%D8%A7%D8%AA-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%82%D8%A9