MILITIAMAN CC NOTES HIGHLIGHTS, 12 SEPT

 Summary

Iraq’s Ministerial Council of Economy is advancing economic unity between the federal government and Kurdistan, focusing on financial reforms and salary equivalency.

Highlights

• 🤝 Collaborative Meetings: Recent meetings between the federal government and Kurdistan aim for economic unity.
• 💰 Salary Equivalency: Discussions include ensuring salary parity for regional employees.
• 🔍 Budget Reforms: Emphasis on addressing financial issues like oil, energy, and border revenues.
• 📈  Private Sector Growth: Plans to enhance the private sector’s role in the economy.
• 🌍 Global Attention: Iraq’s economic strategies are gaining international interest.
• 📊 Unified Treasury Accounts: Establishing a unified treasury for better financial management.
• ⚖️ Constitutional Rights: Ensuring all citizens benefit from new economic policies aligned with constitutional rights.

Key Insights

• 🌐 Economic Integration: The meetings signify a critical step towards integrating Kurdistan’s economy with the federal framework, promoting a cohesive financial strategy.
• 💼 Private Sector Engagement: By focusing on private sector involvement, Iraq aims to diversify its economy and reduce dependency on oil revenues, fostering sustainable growth.
• 🔗 Unified Financial Framework: The establishment of a unified treasury account reflects a commitment to transparent financial management and accountability, which is vital for investor confidence.
• 📈 Revenue Streams: The focus on oil, energy, and border revenues indicates a strategic approach to harnessing Iraq’s natural resources for economic stability.
• 🤔 Constitutional Compliance: The emphasis on constitutional rights in financial discussions demonstrates a commitment to equitable governance and fair resource distribution.
• 🏛️ Political Dynamics: The support for Prime Minister Al Sudani highlights the political backing necessary to implement these reforms, ensuring stability during transitions.
• 🚀 Future Prospects: The positive atmosphere in these meetings suggests potential for significant economic progress in Iraq, attracting global attention and investment opportunities.

IRAQ & KURDISTAN : ECONOMIC UNITY IN ACTION !! #DINAREVALUATION #iraqidinar

When Will The Government Resort To Amending The Budget Law? An Economic Expert Explains, 12 SEPT

 Economic: Al Furat News} The economic expert, Abdul Rahman Al Mashhadani, clarified the date of the government’s resort to amending the financial budget.

Al-Mashhadani told {Euphrates News} that: "Despite the decline in oil prices, Iraq does not face a problem in the 2024 budget, as 8 months of the fiscal year have passed, and the situation is normal with oil prices rising above $70 per barrel."

He added, "Also, the report issued by the Ministry of Finance for the first 6 months had total spending of 58 trillion dinars, while it was supposed to be 105 trillion dinars for the first half of the year."

Al-Mashhadani added, "The largest part of the spending was for operational expenses, which amounted to 53 trillion dinars, and 5 trillion for investment expenses, and the remaining 4 months of the year can pass easily and without problems, and salaries and wages are secured considering that oil revenues cover the need."

"In addition to the government's continued existence of financing means that it has not yet used, such as deficit financing means, which were planned to be 64 trillion dinars deficit, with the Central Bank contributing 22 trillion dinars of it, government banks covering 3 trillion and treasury bonds,

 in addition to the existence of 14 trillion dinars in revolving surpluses, in addition to the existence of a legal authorization for the government to borrow domestically to secure its general budget, and this reassurance is present in 2024," Al-

Mashhadani pointed out. "If prices continue to decline and fall to higher levels of up to $55 per barrel or $60 in 2025, this will push the government to submit different data that will seek to reduce investment expenditures as happened in previous crises and stop the investment aspect, which is now considered to reach 45 trillion dinars."

He continued, "In addition to reducing non-essential operating expenses such as commodity and service requirements, which are spent at 17 trillion dinars annually and were not spent in the first half of the year, the government will also focus on securing governing expenses such as salaries, wages, pensioners' salaries, and the social protection network, which amounts to 90 trillion."

Al-Mashhadani continued, "In addition, purchasing food basket items, gas, and medicines for 10 trillion dinars, in addition to the interest and installments of the public debt, which consists of two parts, the simple part of which is the external debt, which has decreased to 9 trillion, and thus the interest and installments that will be due from government agencies such as the Central Bank and government banks, and its payment can be postponed."

He explained that "the governing expenses of wages and oil production costs and all these expenses will be around 145 trillion dinars, and this is what will determine government spending," noting that "if the problem becomes more complicated, the government can resort to other methods such as imposing taxes on salaries {the nominal salary} only and not on the total because the allocations constitute two-thirds of the general salary."   LINK

INFORMATION FROM INTEL SOURCE ADDS CREDIBILITY TO THE PREDICTIONS AND REASSURANCES ABOUT THE IRAQI DINAR'S FUTURE BY MELANIE HINDS, 12 SEPT

Summary

Melanie Hin shares insights on the Iraqi Dinar, offering exchange strategies while celebrating her birthday and encouraging community growth.

Highlights

• 🎉 Happy Birthday: Melanie celebrates her birthday while delivering crucial information.
• 💡 Unique Intel: Insights from a military source in Iraq about the Dinar situation.
• 📊 Big Picture: Emphasizes the importance of understanding multiple perspectives on the Dinar.
• 🔄 Currency Changes: Discusses the transition in Iraq’s currency systems and potential rate changes.
• 📈 Economic Developments: Highlights Iraq’s international partnerships and investment growth.
• 🌍 Global Impact: Mentions Iraq’s alignment with BRICS and its implications for the dollar.
• 🙏 Faith and Strategy: Encourages a faith-based approach to financial strategies and manifesting wealth.

Key Insights

• 📅 Birthday Blessings: Melanie’s birthday serves as a reminder of hope and community support, emphasizing the importance of celebrating milestones.
• 🔍 Intel Source Credibility: Information from military personnel adds credibility to the predictions and reassurances about the Iraqi Dinar’s future.
• 🌐 Comprehensive View: Understanding various viewpoints enables better decision-making regarding investments and currency exchanges.
• ⚖️ Transitioning Systems: Iraq’s shift in currency management indicates significant economic reforms, potentially leading to a new exchange rate.
• 💼 International Investment: The influx of foreign investment, particularly from Russia, signals a positive outlook for Iraq’s economy and currency value.
• 🔗 BRICS Connection: Iraq’s involvement with BRICS nations could reshape its financial landscape and reduce reliance on the US dollar.
• 🙌 Manifestation and Faith: Melanie encourages viewers to adopt a mindset of abundance and faith, which can influence their financial outcomes.

DINARLAND HIGHLIGHTS!!

DINARLAND HIGHLIGHTS, 12 SEPT

Summary

Iraqi Dinar updates reveal banking reforms, national reconciliation efforts, and potential currency value increases for economic growth.

Highlights

• 📉 Mountain Goat warns of the end of the electronic platform by 2024, crucial for combating corruption.
• 🌟 Frank 26 expresses optimism about Iraq’s economic reforms and purchasing power improvements.
• 🤝 Militia Man reports historic reconciliation between the Iraqi government and Kurdistan, fostering stability.
• 💰 Iraq’s financial revenues exceed 77 trillion Dinars in 2024, primarily from oil.
• 📈 Pimp discusses the need to raise the official exchange rate to stabilize the parallel market.
• 🚀 Mark Z expects currency value increase between the 11th and 15th, enhancing international projects.
• 🏦 Firefly highlights efforts to stabilize the Iraqi currency for economic enhancement.

Key Insights

• 🔍 The planned end of the electronic platform highlights Iraq’s commitment to tackling corruption and money laundering, paving the way for a potential currency reinstatement.
• 🌍 Frank 26’s positivity reflects the belief that Iraqi citizens will soon experience significant purchasing power, indicating a transformative economic shift.
• 📜 The reconciliation between the Iraqi federal government and Kurdistan represents a significant step towards national unity and stability, essential for economic growth.
• 📊 The substantial revenue increase demonstrates Iraq’s reliance on oil while underscoring the need for economic diversification.
• ⚖️ Pimp’s analysis suggests that adjusting the official exchange rate could eliminate profit margins in the parallel market, stabilizing the economy.
• ⏳ Mark Z’s forecast indicates a critical period for currency valuation, aligning with Iraq’s broader economic strategies.
• 💡 Firefly’s emphasis on currency stabilization indicates proactive measures to enhance Iraq’s economic outlook and global competitiveness.

DINAR REVALUATION REPORT: Iraq's Economy: Recovery and Debt Levels in 2024, 12 SEPT

 Iraq's Economy: Recovery and Debt Levels in 2024

In 2024, Iraq's economy has undergone a significant transformation, with a marked recovery and a notable decline in internal and external debts. 1  3  5

Economic Recovery

Iraq's economic recovery in 2024 is attributed to several factors, including the stabilization of domestic inflation, which fell to 4% by the end of 2023, and a strong recovery in the non-oil sector after a contraction in 2022. 6 The International Monetary Fund (IMF) projects that Iraq's real GDP growth will reach 1.4% in 2024 and accelerate to 5.3% in 2025. 6 This growth is expected to be driven by a large fiscal expansion starting in 2023, facilitated by Iraq's first three-year budget since the new government took office in October 2022.  6

Debt Levels

Despite the positive economic outlook, Iraq's fiscal deficit is projected to widen to 7.6% of GDP in 2024 from 1.3% in 2023, primarily due to lower oil prices and increased government spending. 6 Public debt is expected to increase significantly, from 44% of GDP in 2023 to 86% by 2029. 3 However, the IMF notes that Iraq's debt level, while rising, is relatively manageable compared to global standards. 5

Internal Debt

Iraq's internal debt surpassed 70 trillion dinars in 2023, reaching the highest point since 2003.  5 Approximately 37% of this debt arises from loans granted by commercial and government banks, with the remaining 62% owed by government institutions to the Central Bank of Iraq. 5 A critical concern is that most of these debts are operational expenses rather than investments, resulting in additional costs for the state budget in the form of interest payments imposed by internal and external creditors. 5

Outlook and Challenges

The ongoing fiscal expansion is expected to boost growth in 2024, at the expense of a further deterioration of fiscal and external accounts and Iraq's vulnerability to oil price fluctuations. 6 Without policy adjustment, the risk of medium-term sovereign debt stress is high, and external stability risks could emerge. 6

Key Downside Risks

Key downside risks include much lower oil prices or a spread of conflict in the region. 6 To mitigate these risks, Iraq requires an ambitious fiscal adjustment to stabilize debt in the medium term and rebuild buffers. 6