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Revealing the features of the 2025 budget tables, 9 OCT

 Revealing the features of the 2025 budget tables

A government advisor revealed the features of the 2025 financial budget schedules.

 The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said in a press statement that "Article 77/Second of the Federal General Budget Law No. 13 of 2023, which regulates the preparation of the three-year budget, stipulates that the government shall send the budget tables for the years 2024 and 2025 to the House of Representatives for approval before the end of the previous fiscal year."

He added that "the Ministry of Finance has announced that it is in the process of preparing the general budget tables for the year 2025, in accordance with the constitutional mechanisms adopted by the aforementioned Three-Year Budget Law."

He pointed out that "based on the indicators of budget implementation over the first two years provided for by the aforementioned Law No. 13, the financial authority has the necessary administrative and financial capabilities to submit the 2025 budget tables to take their legislative path through discussion and approval in the Council of Ministers and refer them to the House of Representatives before the end of this year."

Saleh noted that "the federal general budget tables for the year 2025 will be based on the constants of Federal Budget Law No. 13 of 2024, taking into account international and regional economic conditions and their changes, ensuring that the provisions of the budget tables for the year 2025 are adapted within the available legal texts, in addition to relying on the performance of the indicators of the general budget tables for the year 2024."

He stressed that "major reconstruction projects will continue to progress in accordance with the vision of the government program to ensure the continuity of growth rates in the gross domestic product in general and the gross domestic product (non-oil) in particular."  link

RV UPDATE BY SANDY INGRAM, 9 OCT

 Sandy Ingram 

  Russia has channeled $19 billion into Iraq's energy sector, changing the game...The investment not only aims to enhance Iraq's economic growth but also reflects Russia's strategic interests in the Middle East.

  This $19 billion investment marks a significant chapter in the long-standing relationship between the two countries, promising mutual benefits and a strengthened alliance.

UPDATE ABOUT THE BOND SIDE, CURRENCY AUCTION STOP BY MIKE BARA, MARKZ & ...

Ministry of Oil announces the start of exporting jet fuel, 9 OCT

   Ministry of Oil announces the start of exporting jet fuel

The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, announced the start of aviation fuel export operations from Iraqi ports.

The Undersecretary said in a statement, "The ministry has started aviation fuel export operations at a rate of (800-1000) tons per day, from export outlets, noting that the Iraqi production of aviation fuel comes within international specifications and standards.

He pointed out that the export process is a step in the right direction, to enhance Iraq's role globally among the countries producing and exporting oil and its derivatives, in addition to that it reflects the prospects for development in the Iraqi oil industry.

He added that the export operations of oil products contribute to increasing the financial revenues achieved from the activities of the oil sector, thus supporting the national economy.  link

RV UPDATE BY JON DOWLING, 9 OCT

 JON DOWLING 

As we await Israel to do what they need to do to split the difference, Iraq just gave away a big tell about the inevitable reset: 

They are having a massive population increase and just coincidentally, they are preparing for major reconstruction and building projects and reforms. A big sign that we’re about to be set free! 

@JonDowling

SANDY INGRAM : Vietnam Economic News VND - Meta & Vietnam Doing Business #vnd rate