The Minister of Planning, Mohamed Tamim, announced on Wednesday the completion of the preparation of the 2025 budget tables and sending them to the Council of Ministers.
“The budget tables do not include the inclusion of any new projects, but they include funding for ongoing projects,” Tamim said in a press statement.
For his part, the head of the Parliamentary Finance Committee, Atwan Al-Atwani, said, “We are determined to activate the General Authority for Monitoring the Allocation of Federal Imports.”
Will they still exchange out the three zero notes to the new lower denominations?
I firmly believe this project will still take place.
When they tell us that the digital dinar will eliminate expenses of printing currency they are talking mainly about the large sums of paper dinars that would have to be transported outside of Iraq to pay their bills for imports.
..
also the CBI told us that our large three zero notes will remain in circulation but only used at the banks for “inter-banking” transactions between countries and banks.
Al-Nusairi: 2025 Indicators: A Strong Economy, A Recovering Dinar, And Developing Banks
Banks Economy News – Baghdad Economic and banking advisor Samir Al-Nusairi confirmed that his predictions, made in previous articles and statements, that our economic indicators in 2025 herald a strong and robust economy based on the availability of foreign currency reserves exceeding $108 billion and 163 tons of gold, sufficient to cover imports for 18 months.
Al-Nusairi said in an interview with Al-Eqtisad News that the local currency issued amounted to approximately 100 trillion dinars, and our dinar is recovering and gradually returning towards an exchange rate against the US dollar towards the equilibrium price targeted by the Central Bank.
Our banks are developing and proceeding at a steady pace in accordance with the Central Bank’s strategy for reform, development, digital transformation and compliance with international standards.
The number of Iraqi banks that have banking relations and accounts in solid international correspondent banks and deal with them directly in foreign transfers has reached approximately 20 banks and deal in multiple foreign currencies after leaving the electronic platform at the end of 2024.
He explained that the Central Bank is making great efforts to qualify, develop and assist other banks to join the twenty banks mentioned above, pointing out that it is closely monitoring the reality of monetary policy applications and the Central Bank’s procedures, closely monitoring international economic variables and their impact on the Iraqi economy and complying with international standards that allow Iraq to be regular in the global banking system and controlling the movement and safety of foreign currency trading.
The banks’ commitment to implementing the new foreign transfer instructions and addressing obstacles as soon as possible has refuted the extremist and pessimistic views that say the exchange rate crisis will continue and our situation will be like that of Lebanon, Iran, Syria and Turkey when the dollar devoured the local currencies of these countries.
He explained that through our precise knowledge of the Central Bank's monetary policy applications, its coverage of the entire demand for the US dollar in the trading market and through its various official outlets, and its control over the distribution of cash dollars according to a new method that the US Treasury praised and considered a globally advanced method for distributing the US dollar, and this is what I confirmed in my previous articles, that the dinar will recover and the crisis is temporary despite all the external and internal reasons.
At the end of his speech on the Central Bank, Al-Nusairi hoped that the next phase would be an evaluation and analysis phase of the achievements made in 2023 and 2024, and a re-evaluation of operating banks and licensed and unlicensed exchange offices, reclassifying them and developing their work in all fields in 2025.
He also hoped that stability would be maintained in the financial and monetary system and that important steps would be taken to stimulate and enable the banking sector to contribute to investment and development, as stated in paragraph 7 of axis twelve in the government program for reforming the financial and banking sector, because banking reform is the beginning of comprehensive economic reform. https://economy-news.net/content.php?id=53806
GOLDILOCKS: 🚨BREAKING NEWS: The GREAT RESET Starting
Summary
The video presented by Freedom Fighter on Goldilocks Global Banking News discusses pivotal aspects of the global financial landscape, focusing on the concept of “The Great Reset” and its implications for the foreign exchange (forex) market.
Freedom Fighter emphasizes that the forex market, being the largest and most liquid financial market globally, has experienced significant transformations due to technological advancements, especially through the integration of artificial intelligence (AI) and blockchain technology.
As these technologies evolve, they aim to enhance transparency, security, and efficiency in currency exchanges, which is crucial for the integrity of financial systems. The host notes that while the term “Great Reset” suggests a sudden and radical change,
it may instead refer to a series of interconnected processes involving geopolitical and economic shifts across the globe. These shifts include adjustments in currency values and rising inflation rates, which central banks are currently navigating.
Freedom Fighter reassures viewers that Iraq, for instance, has shown progress in controlling inflation and stabilizing its economy.
The eventual outcome of all these developments may lead to a new valuation paradigm for currencies, gold, cryptocurrencies, and other digital assets. However, there will likely be fluctuations in value during the transition period before reaching the anticipated end goals.
In a cautionary segment, the presenter warns viewers against interacting with potentially misleading information regarding banking contacts related to the currency reset, as this might lead to unwanted repercussions, including being blacklisted by financial institutions.
The video invites viewers to trust the process, stay informed through credible sources, and foster healthy relationships with financial professionals without falling prey to misinformation.
Highlights
🌍 Global Financial Evolution: The forex market has transformed radically, driven by technological advancements and regulations.
📈 AI and Blockchain Impact: The integration of AI and blockchain in forex trading aims to enhance security, transparency, and efficiency.
⚖️ Phased Economic Shifts: The Great Reset signifies a series of gradual economic and geopolitical changes rather than a single occurrence.
💰 Currency Valuation Adjustments: New valuations for currencies, including digital assets, are expected as part of the Great Reset transition.
🏦 Caution Against Misinformation: Viewers are advised to disregard misleading banking contacts and remain vigilant amidst abundant misinformation.
📊 Central Bank Measures: Central banks are addressing inflation issues while repositioning economic stability, as evidenced by Iraq’s efforts.
🔄 Complex Transition Journey: The path to the Great Reset entails numerous interconnected processes requiring patience and understanding from stakeholders.
Key Insights
🔍 Transformation of Forex Market: The forex market’s evolution underscores a shift from traditional practices to technological solutions. The reliance on algorithmic trading and AI demonstrates a trend towards automation, which can streamline transactions and reduce human error. This transformation can benefit both traders and consumers in the long run by lowering costs and improving efficiency.
⚙️ Role of Technology in Banking: The integration of AI and blockchain technologies within financial institutions enhances operational accuracy. These technologies help eradicate human error in currency exchanges, ensuring transparent transactions and combating potential fraudulent activities. This sophistication in financial tracking aims to build consumer trust within the banking ecosystem.
🌐 Understanding the Great Reset: The belief that the Great Reset signals a singular event is misleading. Instead, it should be interpreted as a series of economic adjustments shaped by various global events, regulatory shifts, and market dynamics. This period of adjustment entails gradual trust rebuilding within financial systems while adopting new tools and structures.
💵 Inflationary Pressures Persist: Inflation remains a pressing concern for central banks worldwide. The measures being taken, like interest rate hikes, represent attempts to restore economic stability. The video highlights Iraq’s achievements in managing inflation, setting a precedent for other nations navigating similar challenges.
🌟 Future Currency Values: Expect fluctuations in currency values during the reset period. Stakeholders must prepare for a transitional phase marked by volatility. Understanding that initial price stability is rare, viewers are encouraged to acknowledge that currency values are subject to change based on the transitions occurring within the global economy, including shifts in asset values like gold and cryptocurrencies.
🚫 Misinformation as a Risk Factor: Interacting with false claims regarding banking contacts can lead to serious repercussions. The video underscores the importance of critical thinking when evaluating information in the current high-stakes environment. Engaging with unverified sources exposes individuals to risks such as being blacklisted by financial institutions, emphasizing the necessity for diligence.
👥 Building Trust with Financial Experts: The recommendation to establish genuine relationships with bankers is essential. This involves seeking credible sources and engaging with recognized professionals who guarantee accurate information. The channel encourages viewers to maintain professional networks while steering clear of sensational and potentially harmful messages circulating within online communities.
The Ministry Of Planning Announces The Completion Of The 2025 Budget Schedules And Their Submission To The Council Of Ministers
Money and Business Economy News – Baghdad Minister of Planning Mohammed Tamim announced on Wednesday the completion of the 2025 budget tables and their submission to the Council of Ministers.
The office of the head of the parliamentary finance committee, Atwan Al-Atwani, stated in a statement seen by Al-Eqtisad News that "the committee, headed by Atwani, hosted Deputy Prime Minister and Minister of Planning Mohammed Tamim to discuss maximizing non-oil revenues."
Al-Atwani emphasized that "the Finance Committee noted a clear flaw in the estimation of non-oil revenues. By amending the law of the General Authority for Monitoring the Allocation of Federal Revenues, we seek to assess the extent of revenue from investment of state assets and other revenue streams, so that we can have a clear picture when formulating the country's financial policy."
He added, "The committee is determined to activate the work of this important constitutional body and grant it broader powers so it can assume its responsible national role."
He expressed his "concern over the halt in listing projects and the delay in financing ongoing projects," noting that "these reasons are a dangerous prelude that could lead us back to the problem of stalled projects."
The statement added, "The meeting reviewed a number of proposals and ideas agreed upon between the Finance Committee and the Minister of Planning regarding adding tasks and duties to the General Authority for Monitoring the Allocation of Federal Revenues and granting it expanded powers to review revenue estimates and plan for their collection."
He pointed out that "the meeting addressed the issues of the suspension of project listings, the delay in funding ongoing projects, the governorates' financial entitlements, and the delay in announcing the results of the population census."
For his part, the Minister of Planning said, "His ministry has completed its preparation of the 2025 budget schedules, and we have sent them to the Council of Ministers." He noted that they "do not include any new projects, but do include funding for ongoing projects."
The Minister of Planning added, "The results of the general population census are fully ready, and their delay depends on the arrival of some data related to the Kurdistan Region."
