Iraq prepares for the largest leap in electricity production: historic contracts with GE and Siemens and plans to compensate for gas shortages, 1 APRIL

 Iraq prepares for the largest leap in electricity production: historic contracts with GE and Siemens and plans to compensate for gas shortages

Baghdad /NINA/ -Minister of Electricity, Ziyad Fadhil revealed on Friday that Iraq is about to sign two historic contracts with the American company General Electric and the German company Siemens to boost electricity production. 

The first contract will provide 24,000 megawatts, while the second contract will add 10,000 megawatts to the national grid.

The minister confirmed in a statement that "the issue of importing Iranian gas has not yet been resolved," explaining that the ministry has not received any official notification of a halt to supplies, while discussions on this matter are still ongoing.

In the face of any potential shortage in gas supplies, Fadhil indicated that "the government has alternative plans, including the use of kerosene, taking advantage of electricity interconnection projects with neighboring countries, in addition to solar power plants and combined-cycle units that do not require fuel, as well as establishing a floating gas platform in the port to enhance energy sources. "

The minister indicated that "the ministry is currently implementing the largest campaign to resolve bottlenecks in the electricity grid in all governorates, by modernizing and introducing new lines and installing transformer stations, with the aim of achieving greater stability in supply hours."

Regarding warnings about an electricity crisis next summer, Fadel confirmed that "there is exaggerated alarmism," emphasizing that the government is well aware of the challenges and has clear plans to confront them and ensure stable electricity supply in the coming months./ End

TIDBIT FROM MILITIAMAN, 1 APRIL

 Militia Man  

 Article:  "The Central Bank Will Launch A Major Initiative to Finance Industrial Projects" 

 This should be a big deal for everybody because it is about doing something different and doing it outside of the tripartite budget...

They're going to have to have an international currency to be able to do these new projects...

Can Iraq be pegged to the dollar into the future or are they going to change?  

Are they going to stick with the US dollar? 

...Or are they going to be in a basket of currency?  Either one is going to happen...

Frank26 : Don't ever let go of your dinars.!! @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

Customs Authority Implements New Measures to Improve Import and Export Environment, 1 APRIL

 Customs Authority Implements New Measures to Improve Import and Export Environment

Baghdad -INA

The General Authority of Customs announced on Friday the implementation of new measures aimed at improving the import and export environment and ensuring the entry of goods according to legal standards.

In a statement received by the Iraqi News Agency (INA), the Authority said, “As part of efforts to strengthen the national economy and regulate trade movement, the General Authority of Customs has begun applying new customs procedures aimed at improving the import and export environment and ensuring that goods enter in compliance with the approved legal standards.”

The statement clarified that “the new measures aim to streamline customs processes through modern electronic systems that reduce delays and ensure smoother operations, combat customs smuggling, protect markets from non-compliant goods, and promote customs fairness among traders. The measures also seek to encourage domestic production by regulating imports and supporting local factories and companies.”

It further noted that “these reforms have received strong support from experts in the economic and commercial sectors, as they are expected to reduce customs corruption, increase transparency in trade transactions, and enhance state revenue, which will positively impact development projects and public services. Additionally, they will protect consumers from substandard or illegal goods that may affect the local market.”

The authority emphasized that “these procedures are part of a comprehensive reform plan aimed at facilitating legitimate trade and creating a fair economic environment that ensures the development of the commercial sector and promotes sustainable economic growth.”

The statement concluded, stating, “With the continued implementation of these new systems, markets are expected to experience greater stability, boosting the confidence of traders and importers in the customs system and supporting economic development in Iraq.”

GOLDILOCKS: BREAKING BOND NEWS: Proof that Vietnam & Iraq Prepares to Raise Currency Rates, 1 APRIL

 GOLDILOCKS: BREAKING BOND NEWS: Proof that Vietnam & Iraq Prepares to Raise Currency Rates

Highlights

Summary

In this detailed discussion led by Freedom Fighter, the Goldilocks Global Banking News session takes place on March 29, 2025, addressing the recent developments in global currency, specifically the Iraqi dinar (IQD) and Vietnamese dong (VND).

 The session focuses on the evolving international financial landscape, highlighting the significant role of Iraq as it prepares for the first movement of its dinar across borders to 66 new countries, 

and Vietnam’s modernization efforts to enhance its economic collaboration with other nations. The conversation includes updates on personal experiences within investment frameworks, strategies for establishing banking relationships, the importance of regulatory compliance for bonds, and the direct connection between tariff negotiations and currency stabilization. The speakers encourage community engagement, mentorship, and proactive participation in financial opportunities while placing emphasis on the need for accurate information and critical questioning regarding investments.

• 🙏 Prayer and Preparation: The session begins with a heartfelt prayer thanking God for opportunities and guidance in financial markets.
• 🚀 Iraqi Dinar’s Historic Move: Iraq prepares to connect its dinar to 66 new countries, marking a historic transition in international trade.
• 🌍 YouTube Milestone: Goldilocks Global Banking News achieves over 1 million views on its YouTube channel, with automatic translations into eight languages to reach a global audience.
• 🔍 Mentorship Stories: A community member shares her transformative experience in building relationships with wealth managers and overcoming challenges.
• 📉 Focus on Tariffs : The discussion highlights how tariff changes, particularly between the US and Vietnam, influence foreign exchange rates and currency demand.
• 💼 Importance of Licensing for Bonds: The group emphasizes the need for valid licensing when purchasing bonds, educating members on securities regulations.
• 💡 Encouragement for Diversification: Members are urged to diversify their investments to avoid reliance on potentially misleading sources.

Key Insights

• 🙏 Value of Community and Faith: Starting the session with prayer underscores the importance of community values and faith in making informed decisions, especially in financial matters.
• 🌐 Iraq’s Financial Evolution: The upcoming integration of the Iraqi dinar into international markets symbolizes a significant breakthrough for Iraq’s economy, fostering increased trade and stability that could potentially uplift its currency value.
• 🎉 Global Expansion of Goldilocks: The celebration of achieving over a million views and expanding translation capabilities demonstrates Goldilocks’s commitment to inclusivity and education within financial markets.
• 🤝 Building Relationships in Finance: Personal stories from community members illustrate that establishing direct relationships with financial professionals can lead to empowering experiences and better outcomes.
• 🌊 Impact of Tariffs on Currency Values: The discussion on tariffs illustrates how trade negotiations substantially affect currency valuation and exchange rates. This understanding is crucial for aligning investment strategies with global economic trends.
• 🔄 Understanding Bonds and Regulatory Compliance: The session offers a critical examination of the regulatory landscape surrounding securities, emphasizing the necessity of verifying the legitimacy of bonds through proper licensing to prevent financial pitfalls.
• 🌈 Future of the Vietnamese Dong: Vietnam’s strategic efforts to modernize its banking system and implement sustainable financial practices position it favorably for future economic growth, indicating potential appreciation of the Vietnamese dong.

Conclusion

The Goldilocks Global Banking News session serves as a crucial platform for fostering dialogue on current economic conditions, global currency developments, and personal finance strategies.

 By prioritizing community engagement and empowerment through education, this initiative highlights the significance of understanding the evolving financial landscape and the underlying mechanisms that influence it. 

Through practical insights, success stories, and the exploration of regulatory frameworks, the participants are encouraged to be proactive and informed as they navigate their financial journeys amidst a rapidly changing global economy.

MARKZ: Are there still 23 currencies in the first basket? @DINARREVALUATION #iraqidinarinvestor

 

FRANK26: "WHAT ARE THEY GOING TO SAY... THE NEW EXCHANGE RATE IS NOT OUT YET.", 1 APRIL

 KTFA

FRANK26: "WHAT ARE THEY GOING TO SAY... THE NEW EXCHANGE RATE IS NOT OUT YET.".......F26

budget tables: approximately 200 trillion dinars, with a deficit exceeding 64 trillion dinars.

3/30/2025

 

Iraq's 2025 budget tables have been sent to the Council of Ministers, with estimates indicating that the budget will range between 180 and 200 trillion dinars, while the deficit could exceed 64 trillion dinars, according to members of the Iraqi parliament's Finance Committee.

 

Jamal Kocher, a member of the Iraqi parliament's Finance Committee, told Rudaw Media Network that the 2025 budget schedule "was briefly discussed during a meeting between Planning Minister Mohammed Tamim and the Finance Committee, where the budget was one of the issues raised."

 

Iraqi state media reported that the 2025 budget could reach 200 trillion dinars, with a projected deficit of 64 trillion dinars. However, Jamal Kocher estimated the budget size to be "around 180 trillion dinars."

 

Iraq's 2023 budget amounted to approximately 198.9 trillion dinars, with a deficit of 65 trillion dinars, while the 2024 budget reached 211.8 trillion dinars, with a deficit of 84 trillion dinars.

 

"cash shortage"

 

For his part, Mohammed Khazaei, a member of the Iraqi parliament's Finance Committee, explained to Rudaw Media Network that "the preparation of the 2025 budget schedule is being coordinated between the Ministries of Finance and Planning, but the delay is linked to the problem of a cash shortage."

 

Iraq exports approximately 100 million barrels of oil per month, and its price fluctuates from month to month. Last year, it ranged between $68 and $72.

 

During the first 11 months of 2024, oil revenues reached 119 trillion dinars, at a monthly rate of approximately 10 trillion dinars, while a fixed amount of 7.5 trillion dinars is allocated to pay salaries.

 

With spending increasing and revenues declining, the Ministerial Council for the Economy adopted an austerity policy in some areas.

 

According to a document obtained by Rudaw Media Network, the Iraqi Economic Ministerial Council submitted five recommendations to the General Secretariat of the Council of Ministers on February 2, 2025, to address the financial crisis in light of the government's commitments.

 

Among these recommendations: "Not entering into new commitments until the Ministries of Planning and Finance approve the availability of financial allocations."

 

Also: “Stop including any public company project in the state’s general budget, except for exceptional and governing cases by decision of the Council of Ministers.”

 

The recommendations also called on ministries to "propose possible solutions to complete ongoing projects listed for companies, whether through their own revenues or by referral to the private sector for partnership."

 

During his meeting with the Iraqi Parliament's Finance Committee on March 26, 2025, Planning Minister Mohammed Tamim confirmed that "the 2025 budget will not include any new investment projects, but will only include funding for ongoing projects."

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