PM Al-Sudani unveils oil projects in southern governorates, 8 JUNE

PM Al-Sudani unveils oil projects in southern governorates

Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani embarked on a visit to the southern governorates of Maysan and Basrah on Saturday morning, aiming to inaugurate multiple oil projects.

A source told Shafaq News Agency that “Al-Sudani is set to inaugurate the gas project in the Halafaya field in Maysan, alongside several other significant projects, before proceeding to Basrah.”

The source detailed that in Basrah, Al-Sudani plans to unveil several initiatives, including the Azmara unit within the Shuaiba refinery and the Artawi field, in addition to various other gas-related endeavors.

This visit follows a previous engagement on March 24, 2024, where the Prime Minister visited Basrah and oversaw the inauguration and monitoring of several strategic and service-related projects within the province.

During that earlier visit, Al-Sudani inaugurated the rolling mill (Al-Darfala), a facility under the General Company for Iron and Steel with an annual production capacity of 500,000 tons catering to different iron types, marking its revival after a halt since 2003.

Furthermore, Al-Sudani also inaugurated the Urea fertilizer plant, boasting a daily production capacity of 1,000 tons, and the Dab fertilizer plant, with an annual capacity of 500,000 tons, both under the ownership of the Southern Fertilizer Industries Company.

"RV UPDATE" BY WALKINGSTICK, 8 JUNE

 Walkingstick 

 Don't be dismayed if the rate is still the same in the budget when it comes out on Saturday...because Sudani is dealing with this [57 trillion] thievery...He could release an "operational" budget.

 [Iraqi bank friend Aki - highest level banking meeting update] 

 Sudani is putting contracts in place to be implement inside of Iraq.  Sudani has been doing this with thousands of contracts. 

"In the coming days" is what they told us that these contracts will be fulfilled in IQDs for most of the budget's projects...Those contracts will be fulfilled for their value but paid in IQD's only.

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[Information from Iraq bank owner #1 friend] 

  Ever since Sudani came back from Washington DC the government of Iraq...has been in the process of making...videos, commercials, advertising.  Sudani has been doing this on behalf of the executive level of all the private banks...These videos will soon be released and shown on Iraqi television and the big screens. 

 Sudani and the GOI are making these videos with the executive branch of each bank to teach the Iraqi citizens about the new national currency...and the process of the new exchange rate..

 There will be a primary video, a spearhead video.  The videos will be with the head of the private banks, the governor of the Central Bank of Iraq, the whole of the board members, the government of Iraq, Sudani himself, the Minister of Planning, the Minister of Finance, the Minister of Oil.  It will encompass all of the GOI of Sudani because the GOI encompasses the entire executive branch...These videos will explain to the Iraqi citizens the process of the monetary reform and where it is at that moment...

https://dinarevaluation.blogspot.com/2024/05/information-from-iraq-bank-owner-1.html

Iraqi Dinar Exchange Rates Increment Significant Meeting Today 2024🔥iraq...

Ariel :what’s happening, 8 JUNE

 Ariel :what’s happening

Anyway aside from this whatever news we have something noteworthy coming up. The end of the Petrodollar on June 9th. Which means the chickens will come home to roost. Because all transactions will be dealt with through oil contracts in national currency. 

This will empower Iraq to denominate all contracts or trade deals in their currency. Which will raise the value significantly. Remember once we are officially on the gild standard the National Dept will be on the fiat USD. 

Not the new US Treasury Bills. But even without that we still have 45 states that made gold/silver legal tender exempt from any taxes. This is documented.

So whatever is going on with the National Debt will be for the old regime. That's not our money. We will phase those old Federal Reserve notes out for new currency eventually.

"RV UPDATE" BY MNT GOAT, 8 JUNE

  Mnt Goat  

 As June is rolling on….  We have waited for this month for a long time to come. This month I believe is going to be a critical month for us investors...I had a very interesting conversation...call to Iraq. I was told by the committee that all is geared up for the Project to Delete the Zeros...I was told that if they can retain the stability between the Parallel Market rate and the Official CBI rate of the dollar that we could see the next “official” rate change that we have been waiting for some time in JUNE...WOW! ...Nothing is certain on any dates because it is all dependent on the market and what it brings. They cannot predict this. But...my contact in the CBI did sound optimistic and that something BIG could or is about to happen and happen much sooner than later...

This month I believe is going to be a critical month for us investors... 

 Article:  "CENTRAL BANK: THE ISSUANCE OF NEW MONETARY DENOMINATIONS WILL NOT AFFECT THE DINAR EXCHANGE RATE”  I would consider this “WOW!” news.

  Quote:  "... the issuance of new cash denominations, large or small, will not affect the dinar exchange rate."   If the CBI drops the zeros (project to delete the zeros) the rate of the dinar will remain the same in-country of Iraq.  It only changes when the reinstatement back to FOREX occurs...the value is already in the dinar... only the rate, right now, does not reflect the true rate... 

Why...on May 27th did the CBI make this announcement about the issuance   of newer lower denominations?   Could they be heading into June for the redenomination of the three zero notes?

 Article quote:  “The budget is not affected by the rise or decline in dollar exchange rates, because Iraq will receive the dollar from the export of oil, and on the contrary, revenues increase as dollar prices increase globally,”

  The rate of the dollar to the dinar will NEVER be in the budget...NOT GOINGTO HAPPEN! ...The budget is dependent on the price of oil.

https://dinarevaluation.blogspot.com/2024/06/rv-update-by-mnt-goat-7-june.html

Iraqi Dinar Guru News Highlights (6/7/24)

Adviser to Sudanese: Implementing the budget schedule instructions will not take long, and amendments may be made to them, 7 JUNE

Adviser to Sudanese: Implementing the budget schedule instructions will not take long, and amendments may be made to them

Mazhar Muhammad Saleh, Prime Minister Muhammad Shiaa al-Sudani’s financial advisor, denied that instructions for putting the 2024 federal budget schedules into effect would be delayed.

“I don’t think that the instructions for implementing the federal general budget, according to the financial schedules related to the fiscal year 2024, which were recently approved by the House of Representatives will take a long time to be issued,” Saleh stated.

He made the observation that “the basic instructions for implementing the budget that were issued regarding the tripartite budget issued under Law No. 13 of 2023, which are currently in effect, are sufficient and effective; however, there may be modifications that necessitate modifications or additions to the current instructions in accordance with the country’s financial situation. at the Federal Ministries of Planning and Finance as a facilitator.

After making modifications to a number of expenditure schedules and financial allocations for the development of the governorates, the House of Representatives voted on June 3 to approve the schedules of the Federal General Budget Law 2024.

The total financial budget was 211.9 trillion dinars, or more than 153 billion dollars. This was an increase of 7% over the budget for the current year. Employee salaries were also significantly higher than last year’s, when they were about 59 trillion dinars.

The budget estimates that the Iraqi state’s general revenues are approximately 145 trillion dinars, resulting in a 66 trillion dinar deficit. The government claims that the difference in the deficit caused by high oil prices will be reduced.

Granting the government authority to transfer funds between ministries and various investment amounts for service and infrastructure projects throughout the country’s cities was one of the most prominent amendments to the current budget that was examined by Parliament’s Finance Committee.

The total salaries of employees increased from 59.2 trillion dinars to 63.4 trillion dinars, or 4.2 trillion dinars, and the costs of care networks and government subsidies increased from 24.5 trillion dinars to 26.9 trillion dinars, or 2.4 trillion dinars, making it clear that the country’s cost of public operating expenditures had increased.