Thursday, August 29, 2024
Evening News with MarkZ. 08/28/2024
DINAR REVALUATION REPORT: Iraq's Path to Economic Development: A Shift in Global Trade Exchange, 29 AUGUST
Iraq's Path to Economic Development: A Shift in Global Trade Exchange
The Parliamentary Finance Committee in Iraq has expressed optimism about the country's development path, foreseeing a significant shift in the course of trade exchange between Iraq and the world. This statement, made by Chairman Atwan Al-Atwani, highlights the committee's confidence in Iraq's economic future.
Current Economic Landscape
Iraq's economy has faced numerous challenges in recent years, including a heavy reliance on oil exports, corruption, and instability. However, the government has been working to diversify the economy and attract foreign investment. The development path, as outlined by the Parliamentary Finance Committee, aims to achieve a more balanced and sustainable economy.
Expected Outcomes
The committee expects the development path to bring about a qualitative shift in Iraq's trade exchange with the world. This shift is likely to be characterized by:
- Increased non-oil exports, reducing the country's reliance on oil revenues
- Improved trade relationships with neighboring countries and global partners
- Enhanced economic competitiveness, driven by investment in infrastructure and human capital
- A more favorable business environment, encouraging foreign investment and entrepreneurship
Key Drivers of Change
Several factors are expected to drive this shift in Iraq's trade exchange:
- Investment in infrastructure: Upgrades to transportation networks, energy systems, and telecommunications will improve the business environment and facilitate trade.
- Diversification of industries: Encouraging growth in sectors such as agriculture, manufacturing, and tourism will reduce dependence on oil and increase non-oil exports.
- Trade agreements and partnerships: Strengthening relationships with neighboring countries and global partners will expand Iraq's access to new markets and investment opportunities.
- Economic reforms: Implementing policies to promote transparency, accountability, and competitiveness will help to attract foreign investment and stimulate economic growth.
Conclusion
The Parliamentary Finance Committee's statement highlights the potential for Iraq's development path to bring about a significant shift in the country's trade exchange with the world. By investing in infrastructure, diversifying industries, strengthening trade relationships, and implementing economic reforms, Iraq can achieve a more balanced and sustainable economy. As the country continues on this path, it is likely to become an increasingly important player in regional and global trade.
Parliamentary Finance: The Path Of Development Will Achieve A Shift In The Course Of Trade Exchange Between Iraq And The World, 29 AUGUST
Chairman of the Parliamentary Finance Committee Atwan Al-Atwani Money and business Economy News – Baghdad The Parliamentary Finance Committee confirmed, on Wednesday, that the development path will achieve a qualitative shift in the course of trade exchange between Iraq and the world.
The media office of the head of the parliamentary finance committee stated in a statement, which was reviewed by "Al-Eqtisad News", that "the head of the parliamentary finance committee, Atwan Al-Atwani, received the Chargé d'Affaires of the German Embassy, Roland Vestbe, and his accompanying delegation; to discuss ways to enhance bilateral cooperation between the two friendly countries."
He added, "The meeting discussed political and security developments in the region and their impact on the Iraqi economy," indicating that "the two sides stressed the need to enhance bilateral cooperation between Baghdad and Berlin at all levels and in various fields, especially in developing the energy sector and financial and banking systems, in a way that achieves sustainable development."
Al-Atwani said - according to the statement: "Iraq looks forward to strengthening its relations with everyone on the basis of mutual respect, common interests, and non-interference in its internal affairs," adding that "the political and security stability that Iraq is currently witnessing has made it an attractive environment for investment."
He continued, "The entry of major international companies into Iraq is a clear indicator of stability and security, and we look forward to the participation of German companies in developing the energy sector and helping Iraq invest its wealth," noting that "the development path will achieve a qualitative shift in the course of trade exchange between Iraq and the world as it shortens time and provides security."
Al-Atwani pointed out that "many European countries have expressed their desire to join the development path, and Germany must have a presence in this strategic project, and the industrial and commercial projects scheduled to be established along the development path will drive the economy and provide thousands of job opportunities." - https://economy-news.net/content.php?id=46875
"IT WAS NOT AN EXCHANGE, IT WAS A PRIVATE SALE" BY FNU LNU, 29 AUGUT
Fnu Lnu
Contract Rates all happened many years ago when private buyers contracted to buy Dinar at a specified rate, per contract.
It was not an exchange. It was a private sale. Those all closed many years ago and there are NO MORE contracted rates...PERIOD! I hope this clears the air...
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"THE REDEMPTION CENTERS ARE THE SAME AS THE BANKS" BY FNU LNU, 29 AUGUST
Fnu Lnu
With the RV drawing near, the crazies are coming out of the woodwork...
First of all, The redemption centers ARE the same as the banks. They are merely off premises due to an expected increase in traffic. They are not separate entities.
Secondly..."The Law of One Price"...states an instrument cannot be sold in different markets at different prices.
In other words, the "redemption Centers" (banks) are NOT going to offer you an exchange rate three times what the "Banks" give you. IT IS ILLEGAL! The rate will be the rate no matter where you go.
The only thing that may differ is the percentage of the fee. This fee is usually 2% but that isn't etched in stone.
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Fnu Lnu
It has been reported that Hezbollah plans to open a HQ in Baghdad and implied that Baghdad will allow it. PLEASE! ...Nuri Al Maliki owns all but one newspaper in Iraq...and is Iranian sympathetic ...Next, think the United States is ever going to leave Iraq? ...That will never happen...Do you...think the United States military is, for one minute, going to allow Hamas or Hezbollah, or any other Iranian proxy group to set up shop in Baghdad, no less? This is commonly known as fear porn and has zero credibility...
Fnu Lnu
[Response to Guru Henig post 3-16-2024 below] The taxation issue is not complex and I have it directly from the taxing authority (IRS) and an agent within the IRS. The taxation will be a matter of choice (YOU DECIDE). You may either pay tax as "REGULAR INCOME" or as Capital Gains. YOU CHOOSE! Depending on your structuring for tax advantages...Regular Income is the easiest way to deal with the income/profits as it is amenable with classic Asset Protection...The notion that you must have receipts is not true because you can choose Regular Income.
It is also not true that one must have a receipt or pay 40-50% in taxes. The tax code is written for both kinds of people. Those who pay taxes and those who do not. Guess which side the rich are on? They use Asset Protection...to defer and reduce...tax liabilities and anyone can do it...Do not be misled. Consult an ASSET PROTECTION ATTORNEY and forget the rest of what you hear and read.
https://dinarevaluation.blogspot.com/2024/07/rv-update-by-fnu-lnu-18-july.html
"THIS ACTION EQUALS HCL FOR CITIZENS!!!" BY FRANK26, 29 AUGUST
KTFA
FRANK26:"THIS ACTION EQUALS HCL FOR CITIZENS!!!".........F26
Oil: We will achieve self-sufficiency in gasoline next year
8/26/2024
Baghdad
The Ministry of Oil announced, on Monday, that Iraq is close to achieving self-sufficiency in gasoline, while indicating that measures have been taken that have contributed to the decline in smuggling of petroleum derivatives.
The Director of the Oil Products Distribution Company, Hussein Talib, said: “The issue of reducing the import of petroleum derivatives depends on two important matters, the first of which is related to the refining industries and the development of refineries and their entry into operation, such as the Karbala refinery, which is considered one of the most modern refineries and produces 140,000 barrels, and the Northern Refineries Group, which has also entered into operation, in addition to developing the Dora refinery and adding the isomerization unit and the Shuaiba refinery.”
He explained that “these factors have led to the provision of products and reduced the import of petroleum derivatives,” noting that “Iraq has reached self-sufficiency in gas oil and white oil products, while self-sufficiency in high-octane gasoline (improved) will be achieved during 2025 according to the plans set by the Ministry of Oil and specialized agencies.”
He added, "The second matter that depends on reducing the import of petroleum derivatives is regulating the equipment and determining the real consumption of petroleum products. There are mechanisms put in place by the Oil Products Distribution Company to reduce unreal consumption, including issuing a fuel card for gasoline in Kirkuk and Nineveh governorates.
"
He pointed out that "gas oil is tightly controlled and we have controlled the flow of petroleum derivatives by installing GPRS systems for government and private cars," indicating that "this issue has limited the sale outside the controls and smuggling of petroleum derivatives."
He added, "Smuggling operations have declined during the current year as a result of the tightening of control over the software and technologies put in place by the Oil Products Distribution Company."
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