Article 12 of the Budget Law is dead in the water again
The Kurdistan Regional Government announced, today, Thursday, its rejection of the proposal to amend Article 12 of the budget submitted by the representative of the federal government in the Council of Representatives.
The spokesman for the Kurdistan Regional Government said in a statement that.
"After a series of meetings and persistent efforts aimed at amending the federal general budget law by the Council of Representatives with the aim of resuming the export of the region's oil, and after completing the first and second readings, unfortunately, the draft law was not approved in the agreed-upon form at the last minute."
He added, "What increased our surprise was that the representative of the federal government in the House of Representatives submitted a different proposal to the Council alone, without prior consultation with the Kurdistan Regional Government, and without presenting it to the Federal Council of Ministers for a vote,
which contradicts the previous decision of the Council of Ministers regarding the approval of the draft law amendment for the purpose of resuming the export of oil from the Kurdistan Region."
He continued, "Such attempts only serve to harm Iraq, and contribute to deepening crises instead of finding effective solutions to them," announcing "the government's complete rejection of these measures and proposals," stressing "the necessity of presenting the agreed-upon draft law and approving it by the Federal Council of Ministers and voting on it."
Prime Minister Hussein Allawi’s adviser confirmed on Thursday that the United Kingdom’s decision to downgrade Iraq’s security level confirms the path of the stable state, and that the country has become a stable, safe and attractive environment for investment.
“Prime Minister Mohammed Shia Al-Sudani’s visit to the United Kingdom reflected the progress of Iraqi-British relations at the economic, security, political, educational and cultural levels,” Allawi told the official media.
He added that “the decision of the United Kingdom to downgrade the security level classified Iraq as a stable, safe and attractive environment for investment and tourism, as Baghdad is the capital of Arab tourism for 2025, as well as the capital of sports and youth for 2025, as well as the proximity of hosting the Arab Summit for 2025,” adding that “Iraq needs its fairness in terms of classifications and this is what a prime minister succeeded after the great progress in the economic, social and security climate.”
He continued, “This classification indicates that the country is towards a new path after two years of the success of the government in working to move the country to an advanced stage that countries, especially the major major countries, especially the major countries, including the United Kingdom, have now begun to respond to reconsider the ratings they provide to their citizens towards Iraq.”
The Prime Minister’s adviser explained that “this is the natural path of the stable state movement that confronted terrorism, triumphed over it, built stability and adopted long-term stability for economic and social prosperity for a better life for Iraqis.”
[Community comment to Clare 1-22-2024 Auction Article below]
"IMO the math used here isn’t what we can be excited about. 1250 Dinar is definitely better than the official rate of 1310 Dinar to the $ But if you take the old Dinar 1250 of them and trade them in for 1 new Dinar...1 million Dinar is equal to $800..."
YOU ARE NOT IN IRAQ EXCHANGING! HOW
DID YOU MISS THIS PART? Making the value of one dinar equal to one dollar... FOLLOW UP QUESTION "now I’m more confused, so if I’m an Iraqi citizen..
.I have to accept it at 1250 old dinar for 1 new dinar. But if I’m not in Iraq I can trade it 1 for 1...?"
ON FOREX SUPPLY AND DEMAND WILL INCREASE VALUE EXTERNALLY...IN IRAQ THEY WILL ONLY USE DINARS. WHY DON'T YOU UNDERSTAND "A DINAR IS EQUAL TO 1 DOLLAR"
(IF IT STARTS OUT THAT WAY) AND THEN IT STARTS TRADING ON FOREX? THE VALUE WILL GO UP FROM THERE. IF THEY DO IT THIS WAY...
Industry Announces The Start Of Work On The Electronic Trademark Registration System
Ministry of Industry and Minerals Money and business Economy News – Baghdad The Ministry of Industry and Minerals announced, on Wednesday, the launch of the electronic trademark registration system, while indicating that the system will contribute to shortening time, accelerating procedures, and reducing errors.
The ministry's spokeswoman, Dhuha Al-Jubouri, said in a statement reported by the official news agency, and reviewed by "Al-Eqtisad News", that "in implementation of the government program and after the Minister of Industry and Minerals, Khaled Battal Al-Najm, announced the start of work on the electronic registration system for trademarks through the Ur electronic portal for government services and to simplify procedures, all beneficiaries of the services of the Trademark and Commercial Data Registration Directorate must use the electronic system and abandon paper work,
" calling on "all satellite channels to register the name of each satellite channel in the Trademark Registration Directorate to guarantee the rights to the name and logo of each satellite channel."
She added that "the ministry has taken its first steps towards digital transformation by completing the digitization of 100,000 files through intensive self-efforts with the use of artificial intelligence and according to specific technical mechanisms and solutions to reach an accurate image of the trademark and then move to electronic examination of the trademark."
The video presents an Intel update on the Iraqi Dinar and its impending revaluation, delivered by a content creator who has established a channel dedicated to this topic. The host mentions a reliable source, referred to as “Jack,” who is part of a group providing on-the-ground information regarding the situation in Iraq.
The discussion revolves around the readiness of new currency notes for reveal, the excitement among citizens, and ongoing reforms related to the Iraqi economy. The host emphasizes the urgency of these developments, highlighting closed-door meetings focused on budget and the Hydrocarbon Law (HCL), which are crucial for Iraq’s financial stability.
The video also references various updates from other Intel sources, including insights from Mark Z and others, discussing the political landscape, the impact of President Trump’s administration, and the significance of the oil and gas law for resolving economic issues in Iraq.
Additionally, the host encourages viewers to stay informed through live streams and offers their expertise in financial systems to help dissect the information being shared.
📈 New Currency Reveal: Excitement in Iraq as new currency notes are ready for unveiling.
🔐 Closed-Door Meetings: Ongoing discussions about the budget and Hydrocarbon Law (HCL) in private sessions.
💬 Multiple Sources: The host synthesizes information from various Intel providers to give a comprehensive update.
📅 Scheduled Live Streams: Regular live updates are provided to engage with viewers and answer questions.
🛢️ Oil and Gas Law: The completion of the oil and gas law is seen as pivotal for resolving economic differences in Iraq.
💰 Market Dynamics: Discussion about the potential for the Iraqi Dinar to be valued at $1, impacting citizen behavior regarding currency.
🎉 Optimism for Change: The host encourages a positive outlook despite skepticism from some quarters.
Key Insights
🚀 New Currency Readiness: The announcement from the Central Bank of Iraq (CBI) about the new currency notes indicates a significant shift in the monetary landscape. The currency’s readiness is expected to generate positive sentiment among citizens, who are eager for improvements in their economic situation. This development reflects the government’s efforts to modernize its financial systems and instill confidence in the economy.
🔒 Secrecy in Reforms: The closed-door meetings regarding the budget and HCL suggest that critical reforms are underway but may not be publicly disclosed until finalized. This secrecy can be interpreted as a strategy to avoid speculation or undue influence that could disrupt the processes. The lack of communication may lead to uncertainty but also indicates that significant decisions are being made behind the scenes.
🔄 Political Influence on Economy: The reference to President Trump’s administration as a turning point for Iraqi economic policies highlights the impact of international relations on local economies. The implication is that political decisions at the highest level can facilitate or hinder economic reforms. This connection underscores the importance of global politics in shaping Iraq’s financial future.
📊 Dinar Valuation Potential: Insights suggesting that the Iraqi Dinar could be valued at $1 raise questions about the currency’s purchasing power and its implications for citizens. If correct, such a valuation would drastically alter the economic landscape, potentially reducing reliance on foreign currencies and improving local trade dynamics.
📉 Impact of Oil and Gas Law: The ongoing discussions regarding the oil and gas law signify the complexity of Iraq’s economic challenges. The law’s completion is deemed essential for addressing the long-standing disputes between Baghdad and the Kurdistan Region, showcasing the interconnectedness of legal frameworks and economic stability.
🌍 International Relations: The transition from being on the “red list” to the “yellow list” in terms of international perception demonstrates Iraq’s efforts to improve its standing globally. Such changes can attract foreign investment, boost tourism, and enhance trade opportunities, all of which are vital for economic growth.
🙌 Community Engagement and Support: The host’s approach to engaging with the audience through live streams fosters a sense of community and shared purpose. This engagement not only provides real-time updates but also encourages viewers to voice their opinions and concerns, creating an interactive platform for discussion and support.
In conclusion, the video serves as a compelling update on the current status of the Iraqi Dinar and the broader economic reforms in Iraq. The synthesis of information from various sources provides a multi-faceted perspective on the developments, while the host’s encouragement for engagement and optimism offers viewers a sense of hope in challenging economic times. The unfolding situation in Iraq is not just about currency reform but also reflects the intricate dynamics of politics, community sentiment, and international relations that will shape the future of the nation. As the narrative continues to evolve, staying informed and engaged will be crucial for anyone invested in the potential of the Iraqi Dinar.
Article 12 of the Budget Law is dead in the water again
The Kurdistan Regional Government announced, today, Thursday, its rejection of the proposal to amend Article 12 of the budget submitted by the representative of the federal government in the Council of Representatives.
The spokesman for the Kurdistan Regional Government said in a statement that.
