DINAR REVALUATION

Saturday, May 25, 2024

Iraqi Dinar Guru News Highlights (5/24/24)

Parliamentary Finance pledges to quickly pass the budget schedules, 25 MAY

Parliamentary Finance pledges to quickly pass the budget schedules

On Thursday, the Parliamentary Money Advisory group affirmed the decision on the 2024 spending plan tables before the finish of the ongoing regulative term.

Council part Khalil Dosky said in a meeting with the , “The Parliamentary Money Advisory group plans to concentrate on the things of the financial plan plans so they incorporate numerous viewpoints, including deciding government spending.”

He added, “His council started examining the passages of the spending plan tables to set up a definite report and remember proposition and conversations for request to finish and develop all feelings,” bringing up that “the financial plan tables will be introduced to the political powers.”

He brought up that “there is an incredible longing among individuals from the Place of Delegates to support the timetables as fast as could really be expected,” focusing on that “the decision on the 2024 spending plan timetables will occur before the finish of the ongoing regulative term.”

"RV UPDATE" BY KAPERONI, 25 MAY

Kaperoni

Much of the float articles that we have seen have concerns about speculators that is because they are referencing dealers speculating within the country. That will not happen.

All of these changes that they're talking about pertain to monetary policy. They have nothing to do with the exchange rate. Whether or not the exchange rate goes up or not is directly related to the economic success thereafter.

By the end of the year when the Central Bank of Iraq ends the currency auction, only transfers amongst established Iraqi banks and regional or International banks will occur. In other words, the float of the dinar and transfer of funds will be institutional.

What this means for us is the future of the dinar exchange rate is directly tied to the capital flowing through the CBI, economic growth, and success of Iraq. As Iraq prospers, so will the dinar! Though we may not see the dinar exchange rate improve initially. This is a significant change in monetary policy for the Central Bank of Iraq. Some 20 years in the waiting.

🔥 Iraqi Dinar 🔥 Iraq is Ready 🔥 News Guru Intel Update Value IQD Exchang...

Deputy: The gasoline crisis is on its way to being resolved, 25 MAY

Deputy: The gasoline crisis is on its way to being resolved

Friday, Representative Nour Nafi said that the problem with gasoline at gas stations is getting better.

“There has already been a crisis at gas stations in many governorates of the country during the past 48 hours, and the reason is related to the delay in the arrival of the tanker carrying imported gasoline to the southern ports for some time,” Nafie stated in an interview with

She added, “The circumstance has changed and the appropriation cycle has started. ” Fuel, alluding to gas, will be shipped off stations in the governorates as per the arrangement of the General Organization for the circulation of oil based commodities, expecting that the emergency is headed to being settled inside a brief period.

She called attention to that “Iraq is needing expanding its creation capacities of oil subsidiaries to fulfill the rising need and lessen the import bill.” Which conveys huge amounts of cash to the financial plan.

It is vital that Iraq imports a piece of its fuel needs from different nations through the southern ports, and from that point it is shipped in tanks for circulation in different governorates.

"RV UPDATE" BY MARKZ, 25 MAY

MarkZ

[via PDK]

Question: When do you think this RV plane will be landing?

MarkZ: Im afraid to say what I think because I am extremely upbeat and do not want to add to the difficult roller coaster we have been riding on.

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I have been in touch with a number of contractors …projects that were moth-balled and stalled now suddenly have funding in place...2 contractors in Iraq...believe they will see their rate...(about $3.90)...this week for their projects...I find this very interesting...Where is the money coming from to start these massive projects. Their whole budget is about $162 Billion.

But one contractor was told they are getting ready to start a $150 billion dollar project. Which means there is a lot more money moving than what we are seeing right now.

Question: What do you think the new rate for Iraq will be?

MarkZ: I could be wrong but, I think the rate will start about $3.90 or so. But we are totally guessing.

We know that the budget has passed with $162 billion. It was $153 B last year...There is plenty in the news showing us it is passed…but I have yet to find where they are covering a budget shortfall with a rate...I was told to expect something within days of it being passed.

Comment: Its interesting they are saying billions and not trillions for their budget totals. They must have a rate hike? Right?

MarkZ: You are getting it. We are just trying to piece together “what is that rate?”

https://dinarevaluation.blogspot.com/2024/05/rv-update-by-markz-22-may.html