DINAR REVALUATION

Saturday, December 21, 2024

MAJEED: POSSIBLE RV FORCED, IF THE SHIPMENTS OF CASH DOLLARS FROM AMERICA DONT ARRIVE ON THE 23RD !!

Al-Sudani Advisor: The government program seeks to raise non-oil revenues to 20%, 21 DEC

Al-Sudani Advisor: The government program seeks to raise non-oil revenues to 20%

Baghdad – Mil

The adviser to Prime Minister Mazhar Mohammed Saleh confirmed on Saturday that non-oil revenues have witnessed a significant change in their contribution to budget resources, while the government program seeks to raise them to 20%.

Saleh said: “There are two tracks in the rise in non-oil revenues, which has witnessed a significant shift in its contribution to federal budget resources, and as indicated by Prime Minister Mohammed Shia Al-Sudani,” noting that “the first track is the high growth rate in non-oil GDP to touch 6% annually, and is a leap in the development of productive activities for sectors of economies outside oil, directed by the transport sector, digital communication technology, housing, construction, infrastructure, agriculture and clear industrial transformation.”

He added that “the other track is the development in public budget resources without an oil supplier due to the high discipline in tax and customs collection after the introduction of digital and automation processes and the expansion of the contact with neglected tax vessels,” pointing out that “the progress made is consistent with the government program to seek to raise the share of non-oil revenues over time and within the economic reform packages by making them 20% instead of less than 10%.”

Saleh explained that “this issue is related to the growth in non-oil GDP on the one hand and the financial maximization of budget resources from traditional revenue sources, both direct and indirect taxes and various related government revenues, which generates an integrative relationship between financial sustainability and economic sustainability over time, which is a upper goal of the government program.”

MILITIAMAN CC HIGHLIGHTS NOTES, 21 DEC

MILITIAMAN CC HIGHLIGHTS

Summary

Iraq’s non-oil revenues are surging, signaling economic growth and new investment opportunities, particularly in technology and global partnerships.

Highlights

📈 Non-oil revenues in Iraq jumped 14%, improving budget stability.
🚢 New port development indicates security and trade potential.
🌐 Iraq seeks global partnerships to boost its industrial sector.
💡 Investment opportunities identified in fintech, e-commerce, and agri-tech.
💳 8,130 loans granted under Riata initiative to support small enterprises.
🔄 Currency exchange reforms aim to stabilize the Iraqi dinar.
📊 Interest in the Iraqi Stock Exchange is increasing, reflecting market confidence.

Key Insights

📊 Economic Stability: The significant rise in non-oil revenues suggests a more diversified economy, reducing reliance on oil. This stability is crucial for attracting foreign investment.
🌍 Global Partnerships : Iraq’s focus on fostering international collaborations can enhance its industrial capabilities and market access, positioning it as a regional hub for trade.
🧑‍💻 Tech Investment Potential: The emphasis on fintech and e-commerce indicates a shift towards a digital economy, aligned with global trends that cater to a tech-savvy population.
🚀 Support for SMEs: Initiatives like Riata are vital for job creation and economic growth, especially in sectors that boost non-oil revenues, contributing to a healthier economy.
💵 Currency Reforms: Efforts to stabilize the dinar amidst fluctuating exchange rates reflect Iraq’s commitment to improving its financial systems and attracting international business.
📈 Stock Market Growth: Increased trading volumes on the Iraqi Stock Exchange signal rising investor confidence and interest in Iraq’s economic prospects.
🔄 Shift in Trade Dynamics: The move towards alternative currency solutions indicates a strategic pivot in Iraq’s trade relationships, potentially reducing dependence on the US dollar in favor of more diverse economic interactions.

FIREFLY: WHEN THE DOLLAR PLATFORM STOPS , WILL COME A SHOCK!! @DINARREVALUATION #iraqidinar

Central Bank: Iraq Expands Foreign Transfers In New Currencies Other Than The Dollar, 21 DEC

Central Bank: Iraq Expands Foreign Transfers In New Currencies Other Than The Dollar

The Central Bank of Iraq announced on Thursday the expansion of foreign transfer channels for local banks to include new currencies other than the dollar, namely: the Jordanian dinar and the Saudi riyal.

The bank also decided to allow Iraqi banks to finance trade with Turkey in euros after it was previously limited to using them with European Union countries, in addition to transfers available in US dollars, Emirati dirhams, Chinese yuan and Indian rupees.

The bank explained in a statement today that "this step comes within its efforts to expand foreign trade financing options in various currencies and channels, and the bank has begun taking the necessary measures to meet banks' requests in these currencies."

The statement also indicated that "this expansion in foreign transfer channels provides transfer operations at the official price, and aims to streamline transfers and involve a greater number of banks in foreign transfer operations, and expand the horizons of economic cooperation between Iraq and other countries, especially in light of the bank's efforts to find other channels to meet the volume of demand for various foreign currencies according to Iraq's dealings with those countries."

The bank confirmed that "a smooth transition took place during 2024 from the electronic platform to directly approved correspondent banks, and thus the Central Bank achieved a fundamental transformation in line with international banking practices, and this transition is widely praised." https://www.radionawa.com/all-detail.aspx?jimare=40666

WALKINGSTICK: WHEN CURRENCY AUCTIONS STOP THERE WILL BE NO RESTRICTIONS ON THE IRAQI DINAR ON AN INTERNATIONAL LEVEL !!!, 21 DEC

Walkingstick

The IQD is being introduced to its basket members.

These foreign currencies that are coming in through the contracts, some of them, if not most of them, will be playing the part in the float of the Middle East basket.

Why is it that this basket is the next chapter in our study?

Because the CBI auctions are ending on December the 31st of this year and there will be no restrictions on the Iraqi dinar on an international level as it was before ...

This is article VIII compliance which allows them to stop the auctions...

Once the float increases the international value of the Iraqi dinar it will start to pair to these currencies in this basket and IMO it will quickly rise in value due to the demand that we are seeing right now.