Ministry of Finance: There is no truth to the delay in salaries this month, 12 AUGUST

 The Ministry of Finance clarified the budget for 2023 on Sunday while denying a lack of liquidity to finance employee salaries.

“In reference to the statements made by Representative Mustafa Al-Karawi on 6-8-2024 regarding the expenditures for the year 2023, which amounted to (145) trillion dinars compared to oil and non-oil revenues (135) trillion dinars, and that the difference was financed from the carryover for the year 2022 to 2023, in addition to borrowing according to the budget law for the year 2023,” the ministry said in a statement. “In addition to borrowing according

She made sense of that “all subsidizing demands got by the Service of Money from all spending units have been carried out,” taking note of that “designations after 12/31/2023 pass toward the finish of the monetary year and can’t be funded by Article (23/A) of the Monetary Organization Regulation, text of Article (No. 6 of 2019).”

She went on to say: Article 2/First – 4-H of the Federal Budget Law for the year 2023 states, “In addition to the fact that the Ministry of Finance took the necessary measures in coordination with the governorates and all funds included in the budget law to record the remaining amounts for investment projects that were not financed and were not disbursed to the trust account, in order to continue disbursing for the following year, amounting to (9.4) trillion dinars.”

She went on to say, “Regarding the MP’s statements about the lack of financial liquidity for the year 2024, the Accounting Department will not be able to finance salaries for the month of July and the following months, we point out that this statement is inaccurate because salaries, with all their names, are among the priorities of the Ministry of Finance, and it finances approximately (7.5) trillion dinars per month for employee compensation, retirement salaries, grants, social welfare salaries, salaries for people with disabilities, student allowances, and salaries for

She added: ” Our ministry has been committed to implementing the program and performance budget for more than two years. It is included in the special programs section alongside current spending and annually in Schedule (E) attached to the Federal Budget Law. This section includes the government program’s name, activity, economic classification, and classification. Implementing the program and performance budget does not mean canceling the item budget (section, material, type, etc.). at all.”

"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 12 AUGUST

 Frank26   [Iraq boots-on-the-ground report] 

  FIREFLY: [Bank friend] told me don't worry.  This may look like a disaster with the United States Treasury here but it's a good thing...They are here to help us to the next and final phase of the currency reforms.  Once the issues are fixed then we should see what we all have been waiting for.  It's good.  Trust me. 

  FRANK:   When your bank friend tells you to trust him, trust him...IMO he's absolutely 100% correct.

Frank26   [Iraq boots-on-the-ground report] 

 FIREFLY :Television now showing us articles, they're holding them up saying the HCL has been held up for 19 years as a hostage.  Now it's being presented to the House of Representatives. FRANK:  Your HCL is coming to you don't worry about it...Once you see the HCL you wee the new exchange rate.

 FIREFLY:Alaq has just retired from the CBI as the governor. 

 FRANK: Thank you for your service Alaq. Move over, the US Treasury is here. 

 FIREFLY:  Hours earlier Alaq was on Channel One saying don't believe the rumors and the TV said he was retiring.  Now he does retire.  

FRANK:  The US Treasury is not playing...https://dinarevaluation.blogspot.com/2024/08/latest-from-firefly-11-august.html

🔥 Iraqi Dinar 🔥 HCL New Rate 🔥 Today IQD Value to Dollar RV News Guru Up...

Iraq to build 5 thermal power plants producing 10,000 megawatts, 12 AUGUST

 On Saturday, the Iraqi Ministry of Electricity made it clear that it intends to construct five thermal power plants with a combined capacity of 10,000 megawatts.

The representative for the Iraqi Power Service, Ahmed Musa, explained that the service’s five-year plan centers around the development of warm age power plants, which utilize shut cycle turbines that can work on various sorts of fuel, Shafaq News announced.

The Iraqi authority added that the new power plants are wanted to be implicit different Iraqi governorates.

Musa says that the Iraqi Ministry of Electricity is currently working on new projects that use wind, solar, and waste recycling to expand the country’s energy options.

Musa uncovered last month that Iraq right now creates somewhat more than 27,000 megawatts, while the nation needs 48,000 megawatts to cover homegrown power utilization.

Iraq imports a lot of gas from Iran, but the country has recently invested in a lot of projects to start using flared gas and renewable energy to make electricity.

Iraq cannot generate electricity without importing gas from Iran. Nonetheless, US sanctions forced on Iran make it hard for Baghdad to pay for the Iranian gas.

Every day, Iraq experiences power outages that can last up to ten hours. During the scorching summer, when the temperature exceeds 50 degrees Celsius (122 degrees Fahrenheit), the situation gets even worse.

The Iraqi Pastor of Power, Ziyad Ali Fadel, declared in mid-Walk that an arrangement had been endorsed with Siemens Energy to transform erupted gas into fuel in six months or less.

Fadel affirmed that the understanding is important for the endeavors of the Iraqi government to stop gas erupting and use it to create power.

LATEST FROM MARKZ, 12 AUGUST

  MarkZ  

 [via PDK]  Question:  Is an NDA required for currency?  MarkZ:  We do not know for sure…We continue to be told there won’t be an NDA on currencies-only bonds and zim…but be prepared either way.

MarkZ

   [via PDK]   I did have a number of contacts tell me that my guesstimates on rates on currencies are going to be way under. That rates will be way higher than I was anticipating...I am hearing that from almost every source on almost every currency.

 MarkZ 

   I am hearing a lot of chatter for the weekend from group leaders...I have heard this chatter before so I am cautious...it is coming in conjunction with some great positive things coming from Iraq...I'm still holding hope perhaps over the weekend for an HCL...

 ...quiet on the RV front...All we have is rumors of the HCL is in the Kurdish regions where they made a couple changes and sent it back to the parliament…so it is now with them. We heard parliament has agreed on it and now we are waiting for them to say Boom – it’s done.So in Iraq they seem excited that Alaq is going to gone and the pending pub..FOR READ MORE: https://dinarevaluation.blogspot.com/2024/08/latest-from-markz-10-august.html

Iraqi Dinar:Explosive Changes in Iraq’s Banking System: What You Need to...

Al-Sudani confirms the government's support for the Iraqi Media Network and enhancing professionalism in the media , 12 AUGUST

 8/11/2024

Prime Minister Mohammed Shia Al-Sudani affirmed, today, Sunday, during his reception of the head of the Iraqi Media Network, Karim Hammadi, the government's support for the network's work and enhancing professionalism in the Iraqi media environment.

 The Prime Minister's media office stated in a statement, a copy of which was received by NRT Arabic, that "Al-Sudani received Hammadi and listened to a briefing on the reality of the network's work, the challenges facing national media work, and the role of the network's channels and windows in providing an objective and fair media service to the Iraqi citizen, reflecting the true picture of the performance of government agencies in various fields."

 The statement added that the Prime Minister stressed "the government's support for the Iraqi Media Network and its tasks in promoting professionalism within the democratic and constitutional framework, and supporting all media efforts to provide information and preserve Iraqi moral and social values ​​and constants."

The statement indicated that Al-Sudani stressed "providing support to the Iraqi Media Network to host the fourth session of the Arab Media Conference, scheduled to be held in the capital, Baghdad, next April, under the auspices of the Arab States Broadcasting Union, affiliated with the League of Arab States."  LINK