Article Quote: "There's been a completion of the first steps of the banking reform process."
In my view the next phase should introduce new currency denominations. If they're going to have 3 zeros removed as Alaq said, you're going to need new denominations.
They never have had a three zeros exchange rate to be supporting the global financial system
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They haven't done that in 21 years so why now?
They never will as far as I'm concerned...they're never going to be the savior of anything at 1310.
Baghdad - WAA - Minister of Finance Taif Sami Mohammed stressed, today, Thursday, the necessity of adhering to the timetables to achieve economic reforms.
A statement by the ministry - received by the Iraqi News Agency (INA) - stated that "Minister of Finance Taif Sami Mohammed chaired a meeting to follow up on the implementation of the government program items related to financial, economic and digital affairs, where she reviewed the latest developments in the plans and procedures adopted by the government to achieve economic and financial reforms and discuss the challenges facing the implementation of the program."
The minister stressed - according to the statement - "the importance of adhering to the specified timetables and achieving the desired goals in enhancing economic stability." The statement added that "the meeting addressed the most prominent economic and financial indicators, and reviewed the results of the reforms that have been accomplished so far, in addition to discussing ways to accelerate the pace of reform in vital sectors. Sami stressed the need for cooperation between all parties to achieve sustainable development and improve the standard of living for citizens." The statement concluded that "the minister urged the concerned parties to continue working hard and intensifying efforts to ensure the success of the reform program and achieve sustainable economic growth."
Community comment: "I believe it will RV before the time they gave."
The revaluation actually started in 2012... Revaluation is to revalue the currency...This is not to revalue the currency, they're going to reinstate it. It was $3.22 when it was brought down...
Because of inflation do you think $3.22 would be fair over 20 years later?
No I don't think so. Therefore the exchange rate is not going to 1000 is it?
It's saying at 1320/1310. When they lift the three zeros that's be a little over a dollar for the citizens. Now that's fair.
FRANK26: "LOL LOL LOL... OH HUSH YOUR MOUTH!!!".........F26
Parliamentary Finance Committee praises Al-Sudani: He has a real will to boost non-oil revenues
10/11/2024
Baghdad
The Parliamentary Finance Committee confirmed, on Friday, that Prime Minister Mohammed Shia al-Sudani has a real will to enhance non-oil revenues, while indicating work to reduce taxpayers' wages in the event of a shift to electronic payment.
The head of the committee, Atwan Al-Atwani, said: “There is a real will by the Prime Minister to enhance non-oil revenues,” noting that “enhancing non-oil revenues was adopted by the Finance Committee because it reached the conviction that it is not possible to rely on oil as a primary source in the budget, because oil is subject to shocks and is unstable and works on supply and demand, and therefore countries cannot be built using unstable rent revenues.”
Al-Atwani stressed that "the Finance Committee is serious about proceeding with the issue of non-oil revenues, and the electronic payment conference is considered an important step towards achieving these revenues, given that the revenues collected through the paper system are marred by a lot of corruption."
He added, "We are working on reducing taxpayers' wages in the event of a shift to electronic payment, so that it will be an incentive for citizens."
He continued, "The trend towards electronic payment is not only in the government sector, but the private sector must be empowered because it is not beneficial to go to the tax office and pay electronically and go to the private sector, such as the mall, market, etc., and pay in cash," stressing, "the necessity of empowering the private sector and for electronic payment devices to be available in all its institutions."
IRAQOMG-Could This Be Our OCTOBER Surprise
Former Director of the Financial Supervision Bureau, Salah Nouri, confirmed today….
“the budget schedules are still with the executive authority (the government), and it is expected to be sent to the House of Representatives during the remainder of this OCTOBER." (OMG)
“the House of Representatives must approve the budget BEFORE the end of DECEMBER 2024, in accordance with Financial Management Law No. (6) of 2019."
In other words, if Iraq is serious & not f*cking around with misinformation news than….THE RATE HAS TO CHANGE {BEFORE} The Budget Schedules get sent to the House of Representatives for FINAL APPROVAL during the remainder of this month OCTOBER!!!! OMG
…LFG
