REINALDO JC : 🚨IRAQ🚨 Today was a HUGE damn hurtle step in passing the amendment of Article 12 of the general budget!!!, 3 FEB

 REINALDO JC

IRAQ Today was a HUGE damn hurtle step in passing the amendment of Article 12 of the general budget!!! The NEXT step is THE RATE CHANGE: (along w/new lower currency notes) “Voting on the amendment will ENABLE the government to submit the 2025 budget tables to Parliament for approval,” Now parliament (HOR) is waiting to approve the {2025 BUDGET SCHEDULES/TABLES} which they’ve been asking for & will receive from Iraq Council of Ministers (COM) once the Rate Changes. Not before because it will expose the NEW EXCHANGE RATE being leaked to the public before Iraq Gov’t/CBI ANNOUNCE/EXPOSE it 1st & see it on the http://CBI.iq website. They already stated on 1/19/25 multiple articles outlets that they will approve the amendment to the budget law (happened today) & next is approving the budget articles but they COULD NOT reveal that date. However Today Shafaq news stated "forecasts indicate that the federal government will send the budget tables to parliament at the end of FEBRUARY!!!!!!!! If this forecast date of February is F*cking true, then WE MUST have a NEW RATE CHANGE before & we’re in FEBRUARY!!! …LFG

5:51 PM · Feb 2, 2025

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REINALDO JC :the Article 12 of the General Budget was Passed Finally!! @DINARREVALUATION #iraqidinar

 

The Prime Minister sponsors the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025 , 3 FEB

 The Prime Minister sponsors the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025 

2/2/2025

Prime Minister Mohammed Shia Al-Sudani sponsored the ceremony of handing over the key to Baghdad, the Arab Tourism Capital 2025.

Last December, the Arab Tourism Organization chose Baghdad as the Arab Tourism Capital for the year 2025.   LINK

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.