Friday, June 14, 2024
ECONOMISTS CALL FOR ENHANCING NON-OIL REVENUES, 14 JUNE
ECONOMISTS CALL FOR ENHANCING NON-OIL REVENUES
Specialists in economic affairs called for the necessity of working to enhance non-oil revenues and reduce dependence on oil in a manner consistent with economic reforms.
The specialist in economic affairs, Dr. Ahmed Al-Rawi, explained to “Al-Sabah” that “oil is affected by variables as it is one of the strategic commodities, regardless of supply and demand, and the factors affecting oil prices can be identified, including political, economic, and factors resulting from conflicts and security disturbances. Because of its international and strategic importance, oil is considered a causal commodity.” For economic activity or even influencing political decisions that may lead to changing the positions of many countries towards rising prices. Regarding public budgets, Al-Rawi believes that “it has become necessary to take practical measures regarding reconsidering public budgets away from rentier expectations and raising all forms of unnecessary public expenditures.”
Activating non-oil revenue systems, such as the system of taxes and public fees, and revitalizing economic sectors so that the budget becomes capable of providing job opportunities for the young workforce and diversifying incomes, as well as developing oil production in proportion to spare capacity. The expert called for achieving stability in the growth of the general budget by adopting a rate that is compatible with the annual growth rate of the gross domestic product and not making the development of the budget linked to oil revenues.
For her part, the Dean of the Faculty of Business Economics at Al-Nahrain University, Dr. Nagham Hussein, explained in a statement to “Al-Sabah” that “not The stability of oil revenues generates complications in financial policy in the short and long term, and they are linked to a number of fundamental issues, including the relative importance of the oil sector in the national economy. Prices fluctuate, so the focus must first be on the long term and attention to the fair distribution of resources and burdens.”
"QFS CONVERSATION" WITH GOLDILOCKS, 14 JUNE
GOLDILOCKS
Quant ISO 20022 Token utilized on the Shanghai Exchange Announcement:
"Chinese regulators' prompt supervision of quantitative trading will help narrow the gap between programs and individual investors in terms of technology, access to information and speed, thereby boosting the confidence of A-share investors and sustaining the stability of the market in the long run, according to market mavens.
The mainland's three major stock exchanges in Shanghai, Shenzhen and Beijing released on Friday rules on quant trading, or program trading, and solicited public feedback till June 14.
The rules cover six major areas — the management over reporting, trading activities, information systems, high-frequency trading, quant trading via the stock connect program linking the Shanghai, Shenzhen and Hong Kong bourses, as well as supervision."
Quant is a ISO 20022 Network. Quant is a network that connects existing distributed ledger networks such as the Shanghai Exchange to the new digital asset based trading system.
Through the adoption of this ISO 20022 Standard, Quant brings compatibility with traditional financial systems and streamlines secure exchanges of data across several networks simultaneously such as the Shanghai Exchange.
© Goldilocks
https://www.chinadaily.com.cn/a/202406/12/WS6668de0ea31082fc043cbf53.html
https://coincheckup.com/blog/iso-20022-crypto/
🇹🇭 Thailand says it plans to become a full member of BRICS.
@BRICSNews
An Economic Expert "Indicates" A Record Increase In The Volume Of Electronic Payments (POS), 14 JUNE
An Economic Expert "Indicates" A Record Increase In The Volume Of Electronic Payments (POS)
Economy | Yesterday, 17:55 |Baghdad today – Baghdad Today, Wednesday (June 12, 2024), economic expert Manar Al-Obaidi indicated a record increase in the volume of electronic payments (POS) for the month of April 2024.
Al-Obaidi said in an explanation on his Facebook platform, followed by “Baghdad Today”, that
“electronic payments with local cards have reached a record level, the first to be recorded in Iraq, with the value of payments reaching 1.5 trillion Iraqi dinars, an increase of 77% annually. Monthly rate of 10%. He added,
https://baghdadtoday.news/uploads/posts/2024-06/1718202977_2.jpg
"Thus, the value of electronic payments for the four months of the year amounted to 5 trillion Iraqi dinars, while the total electronic payments for the year 2023 were approximately 9.6 trillion Iraqi dinars, and the total electronic payments for the year 2022 were 8.2 trillion Iraqi dinars," pointing out that
"it is expected to exceed Electronic payments this year exceed 30 trillion Iraqi dinars.” Al-Obaidi stressed,
“This increase is due to the policies that were taken, especially in the field of government transactions, which imposed exclusively electronic payment, and the increase in societal culture.”
"RV UPDATE" BY SANDY INGRAM, 14 JUNE
Sandy Ingram
The Central Bank of Iraq denied issuing a new currency denomination. The decision highlights the bank's confidence in the strength and stability of the Iraqi dinar, Even as other economies toy with the idea of introducing new denominations..
No one in the Middle East wants big daddy America to make Iraq wealthy. Oh, wait, Iraq is already wealthy. It's just a matter of maximizing, investing and building the infrastructure for long-term wealth...It's only a matter of time before Iraq opens the gates to massive success.
Last week marked a sensational milestone for the central bank of Iraq. In a stunning financial twist, foreign remittance sales skyrocketed by a whopping 90%, surpassing cash sales by over $252 million...The majority of these sales...were strategically utilized to bolster balances abroad through remitt..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/06/rv-update-by-sandy-ingram-11-june.html
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No one in the Middle East wants big daddy America to make Iraq wealthy. Oh, wait, Iraq is already wealthy. It's just a matter of maximizing, investing and building the infrastructure for long-term wealth...It's only a matter of time before Iraq opens the gates to massive success.
Last week marked a sensational milestone for the central bank of Iraq. In a stunning financial twist, foreign remittance sales skyrocketed by a whopping 90%, surpassing cash sales by over $252 million...The majority of these sales...were strategically utilized to bolster balances abroad through remittances and credits. By regulating the flow of foreign currency the central bank instills robust confidence managing Iraq's balance of payments.
A [Community member] wrote and then deleted the following comment in response to...the results of the emergency budget meeting, 'The rate is still 1310 for the next budget....for read more:
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-sandy-ingram-4-june.html
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