AJ: Parliamentary source: Parliament's vote on amending the budget does not mean approving the 2025 schedules! , 3 FEB

AJ

Parliamentary source: Parliament's vote on amending the budget does not mean approving the 2025 schedules

A parliamentary source revealed, on Sunday, that the 2025 budget schedules were not approved in today's session, while indicating that the vote on amending the budget law was limited to a paragraph related to the Kurdistan Region's oil . The source said, in an interview with Shafaq News Agency, "The House of Representatives voted today to amend Article 12 of the Federal Budget Law," stressing at the same time that "this amendment has nothing to do with the budget law schedules for the year 2025." The source added, "Expectations indicate that the federal government will send the budget tables to parliament at the end of February, especially after the vote on amending the budget law today," indicating that "the budget tables will be similar to last year, but the difference will only be in the numbers of operating and investment expenses." The source pointed out that "the cost of extracting oil according to the new amendment in the budget will be 6 dollars for the central and southern provinces and 16 dollars in the Kurdistan Region." Earlier today, Sunday, the Iraqi Council of Representatives voted on the draft law amending the first law of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023 - 2024 - 2025) No. (13) of 2023 . The amendment to Article 12 of the Budget Law includes two paragraphs, the first of which relates to the costs of producing and transporting the Kurdistan Region’s oil after determining the actual estimated costs through the advisory body.” As for the second paragraph, it stipulates that if the federal and regional governments do not agree on the costs of production and transportation, the Ministry of Oil shall choose a party to determine those costs, and as a result the cost of extracting oil from the oil fields in the region shall be calculated . The President of the Republic, Abdul Latif Jamal Rashid, had previously warned against the continued increase in operating expenses in the general budget allocated to finance the monthly salaries of employees and workers in the public sector in the country, stressing the need to support the private sector to push the economy forward . https://shafaq.com/ar/%D8%B3%DB%8C%D8%A7%D8%B3%D8%A9/%D9%85%D8%B5%D8%AF%D8%B1-%D9%86%D9%8A%D8%A7%D8%A8%D9%8A-%D8%AA%D8%B5%D9%88%D9%8A%D8%AA-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D8%B9%D9%84%D9%89-%D8%AA%D8%B9%D8%AF%D9%8A%D9%84-%D8%A7%D9%84%D9%85%D9%88%D8%A7%D8%B2%D9%86%D8%A9-%D9%84%D8%A7-%D9%8A%D8%B9%D9%86%D9%8A-%D9%82%D8%B1%D8%A7%D8%B1-%D8%AC%D8%AF%D8%A7%D9%88%D9%84-2025

FNU LNU: The old and new currency will coexist for 10 years!! @DINARREVALUATION #iraqidinarinvestor

 

Rafidain Bank announces the start of distributing retirees’ salaries for the month of February , 3 FEB

 Rafidain Bank announces the start of distributing retirees’ salaries for the month of February 

2/2/2025

Rafidain Bank announced today, Sunday, the start of distributing retirees’ salaries for the current month of February through electronic payment tools.

 The bank's media office said in a statement received by {Euphrates News}, a copy of which said, "The distribution of salaries for civilian and military retirees has begun."

He pointed out that "retirees who receive text messages can go to receive their salaries from wherever they are."   LINK

TIDBIT FROM JEFF, 3 FEB

 Jeff 

 Question:  "How long should we wait to go to the bank if we are not needing money ASAP? 

 In other words do you think it will start floating fairly quickly or will it take some time?" 

 This will be a managed float, which means it can only change plus or minus 10% per day...When the rate changes it'll come out somewhere around the $3.80 range. 

 That's my opinion.  I don't think it's going to go over $4 until going into the 2025 budget period...I think it's going to stay below $4 during our 90-day window to exchange.

  I wouldn't worry about time waiting for it to float...   Get it exchanged.  Don't wait for this to go up in value because I don't think you're going to have that opportunity or time frame.

MAJEED: They already have the greenlight to go ahead with it !!, @DINARREVALUATION #iraqidinar

 

IMPORTANT IRAQ NEWS: THE FINANCE COMMITTEE: OUR PRIORITIES ARE TO CHART A NEW COURSE FOR MANAGING THE FINANCIAL SITUATION, 3 FEB

 THE FINANCE COMMITTEE: OUR PRIORITIES ARE TO CHART A NEW COURSE FOR MANAGING THE FINANCIAL SITUATION

The head of the Finance Committee, Atwan Al-Atwani, confirmed today, Wednesday, that the committee has placed at the top of its priorities the development of a new path for managing the financial situation.

A statement by the Finance Committee received by the Iraqi News Agency (INA) stated that “the head of the Finance Committee, Atwan Al-Atwani, met with the delegation currently visiting the United Kingdom, Lord Baroness de Sousa and the Director of the Oversight Unit in the British House of Commons, Alex Knight, each separately, in the presence of specialists from the International Partners Foundation.”

He explained that “the discussions were held on the prospects of joint bilateral cooperation between the Finance Committee in the Iraqi Council of Representatives and the specialized committees in the British House of Commons in terms of legislative and oversight work and the exchange of expertise in all fields, in a manner that serves the interests of the two friendly peoples.”

The statement continued, “After reviewing the structure of the British House of Commons and the House of Lords and the role of each of them, Al-Atwani stressed the need for the Iraqi Council of Representatives to establish permanent specialized formations of experts and specialists whose mission is to chart the course of legislative work and complete the requirements for enacting laws and consolidating legislation in a manner that achieves the country’s supreme interests and is consistent with development plans and service programs.”

He pointed out that “strengthening the work of the legislative authority with these specialized formations would mature the laws and assess the government’s actual need for the legislation to be enacted, away from personal interpretations.”

During his discussions, Al-Atwani reviewed “a number of files and topics of common interest,” noting that “his committee has prioritized charting a new path for managing the financial situation in the country through a gradual transition to relying on non-oil revenues, especially since Iraq has financial revenue outlets that can be pillars of building the budget, including customs, taxes, investment of state assets, communications, and other government services.”

TIDBIT FROM MILITIAMAN, 3 JAN

 Militia Man

  Article:  "Al-Sudani opens the 48th session of the Baghdad International Fair" 

  The event is underway with 20 countries and up to 1,000...

 Iraq is looking for the international and Arab investors to come into Iraq. All of which are looking for doing business with assurances they can invest in a secure and stable economic environment...

It has been openly stated they have that and will continue with the support of the international community noted by...the United Nations directly this week. This is very good to see.