Tuesday, February 11, 2025
Government advisor: Financial concerns unfounded, 11 FEB
Government advisor: Financial concerns unfounded
The Prime Minister's advisor for financial affairs, Mazhar Muhammad Salih, confirmed that the financial concerns raised from time to time about the economic situation in Iraq are "baseless."
Saleh told {Al-Furat News} that "Iraqi diplomacy is one of the most successful in protecting the country's supreme interests, according to the government program's adoptions and national constants, whether with the United States or others."
He added, "There is a high degree of consistency in managing the country's financial affairs in a stable manner within the framework of the general economic policy, which is a positive thing that is always indicated by the ability and flexibility to confront economic challenges with high rationality during the past years."
Saleh pointed out that "the country enjoys good financial flows from oil revenues and others, supported by efficient foreign reserves and promising economic activity in the real sector and partnership with the private sector witnessed by the country, especially in the sectors of renewable energy construction, fossil oil, electricity, gas, infrastructure, reconstruction and housing in an unprecedented manner."
Despite the statements of government officials reassuring the financial situation in Iraq, there are some concerns that are raised from time to time due to fluctuations in oil prices.
The Iraqi economy depends heavily on oil exports, which makes it vulnerable to fluctuations in global oil prices. Any drop in oil prices could significantly impact government revenues and lead to a budget deficit.
While there are some financial concerns, the economic situation in Iraq appears stable at the moment, thanks to good oil revenues and foreign reserves at the Central Bank of Iraq. link
AJ : 🔥LATEST UPDATE: Federal Budget Vote!!, 11 FEB
AJ
LATEST UPDATE: Federal Budget Vote.
Timeline: The Iraqi government plans to send the 2025 budget tables to the Iraqi Council of Representatives within the next few days. 
Process: The Parliamentary Finance Committee is waiting to receive, review, and study these budget tables before they proceed to voting.
Impact on Salaries: Despite potential delays in budget approval, the disbursement of salaries for employees and retirees will not be affected. Salaries are secured for several months into the year, allowing for spending without waiting for the budget approval.
There is no concern regarding this issue.
Federal Budget Law in February 2025, focusing on resolving oil disputes between Baghdad and Erbil and ensuring economic planning for 2025 could proceed.
MP calls for enacting oil and gas law to solve salary crisis, 11 FEB
MP calls for enacting oil and gas law to solve salary crisis
Member of the Parliamentary Oil, Gas and Wealth Committee Nazim Al-Shabli called on the federal government today, Tuesday, to expedite sending the draft oil and gas law.
Al-Shabli told / Al-Maalouma / agency, “The legislation of the oil and gas law is sufficient to solve the crisis of salaries of the region’s employees, indicating that the law contributes greatly to stopping oil smuggling as well as addressing the salary crisis.”
He added that "the salary crisis is ongoing until now and there is hope and a beginning to solve it after the legislation of the oil and gas law within the Council of Representatives,"
noting that "the region continues to smuggle oil."
He stressed "the need to expedite sending the oil and gas law to solve the giant problems between Baghdad and Erbil." link
TIDBIT FROM JEFF , 11 FEB
Jeff
To help you on an exchange you're probably going to want to call your bank and schedule an appointment.
In other words don't just, if you're heavily invested in this, don't just walk into a bank with a big ole bag of money and say, 'I need to exchange all this.'
Call them, set it up, schedule it, let them know how much you have. Ask them, do they have limits that you can bring in?...I'm not calling a bank...I'm going to call Wells Fargo's private bank...I'll be able to bring in all my currency at one time. I don't have to bring it in stages or in different intervals or anything like that. I can bring it all in at once...
Subscribe to:
Comments (Atom)