Mehr News Agency quoted the Iranian Foreign Ministry as saying that it had summoned the Swiss official in Tehran and handed him an official warning that Iran would respond immediately and decisively to any threat it might face.
Question: What is the difference between a redenomination and a revaluation?
With a redenomination they do not change the value…just print higher bills because they have lost so much purchasing power.
The white papers have been very clear that they want to lift the purchasing power and the exchange rate…so a revaluation. They have been very clear they are not redenominating.
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."
Article: "Budget tables: approximately 200 trillion dinars, with a deficit exceeding 64 trillion dinars."
Quote: "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
."
Article: "Iran sends a new war message to America: Our response will be firm"
Quote: "Iranian Foreign Ministry as saying that it had summoned the Swiss official in Tehran and handed him an official warning that Iran would respond immediately and decisively to any threat it might face"
The Prime Minister's Advisor for Financial Affairs, Mudhar Mohammed Salih, confirmed on Saturday that the Strategic Framework Agreement contributed to strengthening Iraq's financial and banking integration. He also noted that Iraq's relationship with the United States contributed to achieving balance in foreign policy and the economy.
Salih told the Iraqi News Agency (INA): "The Strategic Framework Agreement signed between Iraq and the United States in 2008 formed the basis for the development of paths of stability in bilateral relations between the two friendly countries, and on many axes of joint cooperation, which is important in the relationship with a major country like the United States."
He explained that "the role and importance of the United States in the international coalition forces, through its significant participation in combating ISIS terrorism, is an important element in the process of preserving our country's sovereignty, security, and stability. It provided a solid signal to open the doors of the world to international trade and investment links for Iraq, at high levels, through a large gateway whose title is security, stability, and prosperity with the world."
Salih added, "The agreement was a positive channel for creating an atmosphere of financial and banking relations that charted Iraq's path to integration into the international financial and banking system without fears of international financing, while achieving a high degree of transparency and governance with the international banking market and the international financial and economic community.
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He continued, "If the United States is the world's leading energy producer, Iraq is OPEC's second-largest crude oil producer, meaning that our country is a strategic international energy hub, and its security and economic stability will remain essential to international development."
He added, "Since the defeat of ISIS terrorism (and in cooperation with friendly major powers, specifically the United States), our country has been able to pursue a neutral and highly independent policy that seeks to build stable economies in a turbulent world. Iraq is a stable achievement that can be emulated in light of the highly complex regional and international geography and politics." He pointed out that "the friendly and cooperative relations between Iraq and the United States have provided Iraq with two important paths over two decades. The first is achieving balance in Iraq's foreign relations with the United States and not relying on a single axis, or what is called engaging in the policy of axes."
He continued, "The other axis is the role of our country's peace strategy, which has led to reducing regional tensions by building balanced relations with international and neighboring powers, after our country became a highly important international and regional player, credited with providing elements of stability in the region and the world."
The Prime Minister's Advisor emphasized that "the continued improvement of the relationship between Iraq and the United States will continue to contribute to achieving stability and sustainable development, while ensuring that this relationship remains balanced and preserves Iraq's sovereignty and the independence of its national decision-making. This is currently achieved through mutual respect and America's appreciation for Iraq's positive positions and its commitment to building just regional peace, security, and shared development."