DINAR GURUS UPDATES @DINARREVALUATION

Iraq’s Parliamentary Finance Committee forecasts non-oil revenues to reach +$22B in 2025, 14 OCT

 Shafaq News/ On Sunday, the Iraqi Parliamentary Finance Committee projected that non-oil revenues in the 2025 budget will amount to 30 trillion IQD ($22,915,015,122), driven by electricity collection, taxes, and revenues from the Baghdad Municipality and various municipal offices.

In a statement to Shafaq News Agency, Parliamentary Finance Committee member Mo’een Al-Kadhimi explained, "The Finance Committee held a meeting today, hosting Finance Minister Taif Sami, along with the heads of the tax and customs authorities and general directors from the Ministry of Finance, to discuss the general budget law, focusing on both oil and non-oil revenues."

"While oil revenues are already determined, the focus on non-oil revenues included activating government entities such as the electricity sector in bill collection, the Baghdad Municipality, and other municipal offices. Additionally, the discussion covered tax commissions, revenues from border crossings, customs, and other services that could increase non-oil revenue streams."

He further noted, "Although the government’s program highlighted the need to activate non-oil revenues, implementation has been lacking. By 2025, oil revenues are expected to reach 120 trillion dinars, while non-oil revenues are anticipated to be around 30 trillion dinars, including income from customs, taxes, electricity collection, and services provided by the government."

RV UPDATE : " THE NEXT STEP IS TO INTRODUCE THE LOWER NOTES AND THE NEW EXCHANGE RATE" BY FRANK26, 14 OCT

 Frank26 

  Question:  "The exchange rate change should be the next step before the lower notes and everything else right?" 

  The next step is to introduce the lower notes and the new exchange rate yes  But in that process it's a chain of events - Picture a room with 100 mouse traps...

if you throw one ping pong ball in that room...

one mouse trap will cause a chain reaction...to fire off.  That is what's going to happen when you have the new exchange rate introduced to the world...

LATEST INSIGHTS OF MARKZ TODAY @DINARREVALUATION

An Absent Minister, “Suspicious” Agents, And “Absent” Oversight... Oil Is At Its Worst And Smugglers Are Living A “Honeymoon”, 14 OCT

 An Absent Minister, “Suspicious” Agents, And “Absent” Oversight... Oil Is At Its Worst And Smugglers Are Living A “Honeymoon”

Alsumaria Special  2024-10-13 | Sumerian News-Politics  For about a month, the Minister of Oil was absent Deputy president council Minister of Energy Affairs Hayan Abdul Ghani was removed from his ministry due to a health condition he suffered from, but during this month he got a lot There are suspicious movements and decisions inside the ministry, taking advantage of the minister’s absence from the head of his ministry.

In mid-September, Abdul Ghani suffered a stroke while in the United States.United On an official visit, the minister was absent from the ministry throughout the month. He is supposed to return to his duties today or tomorrow, according to what sources revealed. However, during this period of absence, and the preoccupation of the Prime Minister, council Ministers in the political and security situations, two of the undersecretaries of the Ministry of Oil took advantage of this period to intensify their activities and meetings with foreign companies at times and to make wrong decisions at other times, according to what sources revealed to Sumaria News.

Sources say that one of the ministry's undersecretaries preferred to stop the operations. export Oil products out Iraq In return for granting these products to some fictitious parties and factories, and we are talking here about the fuel oil product, and fictitious factories are factories that exist only on paper, and do not carry out any activity or production, from the oxidized asphalt factories, which only take shares of fuel oil at a price subsidized by the state not exceeding 250 to 300 dollars, while its price outside Iraq About $500 per ton, i.e. a profit margin of 100%.

The agents’ activities came in contradiction to the policy and directions of the government and its prime minister to maximize the country’s foreign currency resources by selling this product through the Oil Marketing Company to accredited and reliable companies and exporting it abroad instead of consuming it or smuggling it by some owners of fictitious factories inside Iraq, according to what was revealed by informed sources and official correspondence.

As for the other agent of the Ministry of Oil, he was immersed in a long series of meetings with foreign companies to conclude contracts and side deals.

All this is happening, at a time when the Internal Control Department is completely absent from the scene in the Ministry of Oil, which is supposed to monitor these activities and events, but the truth is that the Director General of the Internal Control Department in the Ministry of Oil, who was hosted in an open session in council Iraqi MPs last September,

it turned out that there is a lot From the negligence and laxity of this department regarding the files of corruption, negligence and misuse of authority, with the existence of an official letter from the Parliamentary Integrity Committee regarding his ineligibility for the position because he suffers from health problems, according to what was stated in the letter.

The Parliamentary Oil Committee also indicated at the time that the Director General of Control is arbitrary in his decisions and has emptied his department of about 35 competent employees who are needed by internal control, which in itself is suspicious and suspicious behavior.

Between a minister who was absent, agents who “move secretly” and an internal control director who is absent from the scene, informed sources say that the Ministry of Oil is going through its worst phase as a result of the chaos occurring in the ministry, calling on the head of...councilMinisters to conduct a real review of all the ministry's joints.

Estimates indicate that about a third of the factories that receive black oil inIraqThey are “fake factories” that benefit from subsidized fuel oil and smuggle it and sell it outside Iraq, which provides profits of one billion dollars annually, or about 100 million dollars monthly.  LINK

RV UPDATE BY MILITIAMAN, 14 OCT

 Militia Man  

  Article:  "The Minister of Finance stresses the need to adhere to the timetables to achieve economic reforms"

 This cooperation...goes far beyond Iraqs borders...The World Bank, the IMF, the Bank of International Settlements, the WTO,  United States Treasury, etc....

all have reached agreements with respect to Iraqs reforms and sustainability towards economic growth...It shows the aforementioned entities...know what Iraq's reforms will mean to the world and the impacts it will likely bring to many nations of the world! 

...They are now openly making sure they are on record in saying so..

BRUCE CC HIGHLIGHTS TODAY @DINARREVALUATION