Iraq is moving forward. They've got huge reserves...increased their gold, they're going to have the private sector, their stock exchange is going to be one to reckon with. It's an emerging market and a lot of money is going to be start flowing...
If they go on the Forex system it's going to be international. It's going to be fast and furious.
Could they do something within the county prior to that
?
Sure, why not, educate the citizens, do what they got to do...
Question: People want to know if they can drag this out until next year?
Militia Man: We don’t know the timing. But, I don’t think we are even close to go that long. There is way too much going on in the world and this is not only about Iraq. Remember all boats rise with the tide...I believe Iraq is ready to go with the rest of the world. Along with other countries like the Vietnamese dong.
Are they going to change the value of their currency...?
I'm pretty sure they are going to need to to pay for all these [reconstruction] objects...rebar, the cement - all that stuff is expensive at 1310. It's not so expensive if it's back at a 'previous era'....If they have the true value, their real effective exchange rate, it's going to be far cheaper...
FRANK26: "I AM LOOKING FOR A TIME STAMPED CONTRACT ACTIVATED!!!"...F26
Sudanese calls on the private industrial sector to invest in raw materials available in Iraq
5/23/2024
Tuesday, Prime Minister Muhammad Shiaa Al-Sudani called on the Iraqi private industrial sector to invest in the raw materials available in the country.
This came during the launch, in Najaf Governorate, today, of the executive works on the Iraqi Diyar Glass Factory project.
The project is the first to be implemented in accordance with the sovereign guarantees approved in the budget, and in cooperation between the Trade Bank of Iraq (TBI) and the German Export Bank. It also represents the most important forms of cooperation between Iraq and Germany, the foundations of which were laid during His Excellency’s visit to the German capital, Berlin.
Al-Sudani stated that this factory is being implemented in an industrial city by an investor who is responsible for providing all services. The industrial city is also preparing to embrace industrialists and provide land and services, which is a feature that we aspire to be implemented in all governorates.
He pointed to the new project, which is the first to produce glass, with a capacity of 800 tons per day, which means 25% of the local market’s need. The factory will rely on silica available in Iraq, stressing the availability of many raw materials that have not been invested. He also directed the necessity of implementation according to the plan and schedule. Timeline.
The Prime Minister affirmed the government’s support for the private sector, and the provision of guarantees for all priority projects, especially the housing and construction sector, which represents a large demand for construction materials, indicating the country’s need to triple the existing factories for coverage.
Al-Sudani called on the serious private sector to invest in this important opportunity, as the government continues to remove obstacles and bureaucracy, as this path will provide real job opportunities, and larger industries will settle in this city and other industrial cities.
If for one second the new rate had been shown the Council of Ministers, the parliamentary Finance Committee or the House of Representatives we would have heard them singing and dancing and cheering from Iraq. We certainly would have seen it from the CBI first.What happened then? ...As they've said, the amendments were viewed and passed by the Council of Ministers, the amendments of the 2024 budget were then passed to HOR via the Parliamentary Finance Committee...We definitely know the rate hasn't been exposed.
Yeah, Iraq could come out at 1310 internationally on Forex. A man could land on the sun or pigs could fly. In other words the odds are slightly better than those two scenarios but in the opinion of most people it will not happen.
Here's why: Sudani stated clearly that the dinar was worth more than the dollar and the value of the dinar would be higher than the value of the dollar. That ain't 1310 to $1. Secondly, Sudani said Iraqi's dinar would be the solution to the world's financial and economic problems. Not at 1310 it's not. Three, if they come out at 1310 it's impossible for the tripartite budget to work.
Al-Sudani announces the opening of 48 electrical power transmission stations throughout Iraq
5/30/2024
Today, Thursday, Prime Minister Muhammad Shiaa Al-Sudani announced the opening and operation of 200 electrical stations throughout Iraq’s regions and cities.
Al-Sudani’s media office stated in a statement that the latter opened and operated “48 electrical power transmission stations for ultra-high and high pressure, and 152 electricity distribution stations throughout all governorates of Iraq, within the first phase of a package of projects to resolve bottlenecks in electricity transmission and distribution networks in Baghdad and a number of governorates.” LINK
A Sudanese advisor expects Parliament to approve the budget schedules before Eid... and warns against delay
5/23/2024
Mazhar Muhammad Saleh, financial advisor to Prime Minister Muhammad Shiaa al-Sudani, expects the House of Representatives to approve the financial budget schedules for 2024 before the Eid al-Adha holiday, which falls in the middle of next June.
Saleh told {Al-Furat News} agency, “It is noted that the level of coordination and harmony between the legislative and executive authorities will accelerate the House of Representatives’ approval of the financial schedules for the year 2024, in implementation of the provisions of Article 77/second of the Federal General Budget Law (Tripartite) No. 13 of 2023.”
He added, "What we expect is that the House of Representatives will approve the aforementioned financial schedules before the Eid Al-Adha holiday at the latest, and according to what some members of the House of Representatives noted."
Saleh noted that "the delay affects the movement of investment spending for new projects that the government planned to promote and in accordance with its ministerial program to serve the achievement of the goals of sustainable economic development in our country."
The Council of Ministers approved, in an extraordinary session last Sunday, the 2024 budget schedules, while the House of Representatives secretariat announced yesterday that it had received the schedules.
The Parliamentary Finance Committee began discussing the budget schedules, with expectations that it will be voted on before June 9.
A member of the Parliamentary Finance Committee, Alaa Al-Haidari, stated in a press statement that “Parliament has the powers to pressure spending and transfer funds, and this is linked to opinions regarding the schedules of service allocations to the governorates,” indicating that “the Council extended its legislative recess while awaiting the budget schedules, and the remaining time period of the month that Parliament extended.” Sufficient, and we expect that the budget will be voted on before the ninth of next June.”
The head of the Finance Committee, Atwan Al-Atwani, explained in a press statement that the committee “held continuous meetings to discuss the 2024 budget schedules and study financial policy,” explaining that it “will host the Ministers of Finance and Planning to discuss current and investment expenditures and budget paragraphs related to securing the necessary needs of the citizen, contracts, and appointments.” .
