DINAR REVALUATION

Tuesday, April 29, 2025

GOLDILOCKS: Iraq and Vietnam are already set up their already "in place" digital platforms!! #iqd

Will Iraq have a 2025 budget? Finance Committee doubts it

Shafaq News/ Iraq’s Parliamentary Finance Committee does not expect the government to forward the detailed tables of the 2025 federal budget to the legislature, a lawmaker said on Sunday.

Committee member Jamal Kocher said parliament “could pass the 2025 tables if they arrive, but there is no seriousness in sending them,” adding, “In the meantime, the government will only pay salaries.”

He listed three hurdles: a lack of cash to implement new projects; failure to release all allocations for 2023 and 2024 because of the same liquidity crunch; and fear that approving fresh spending so close to parliamentary polls could funnel money into election campaigns.

Earlier, fellow committee member Uday Awad told Shafaq News that a 2025 budget may not be prepared due to the lack of real will to send it to Parliament.

The Prime Minister’s Economic Adviser, Mudhhir Mohammed Salih, argued work on the tables was delayed by amendments related to the costs of extracting and transporting the Kurdistan Region’s oil, which required recalculation.

The three-year budget law covering 2023-25 obliges the cabinet to update spending tables annually, but lawmakers now fear Iraq will enter 2025 without a voted fiscal plan.

TIDBIT FROM CLARE

Clare

Article: “The 25,000 denomination accounts for the largest share of banknotes in Iraq."

Quote: "Al-Obaidi Mentioned in a post on Facebook The number of banknotes issued by the Central Bank during January 2025 amounted to 6 billion banknotes, with a value of 100.3 trillion Iraqi dinars, an increase of 4.7% compared to January 2022, when the number of banknotes issued amounted to 5.7 billion banknotes, with a value of 78.2 trillion dinars.

TEXAS SNAKE: " The bond releases is directly related to our RV" @DINARREVALUATION #iraqidinar

Spending down, money supply shrinking: Iraq’s year-end financial snapshot

Shafaq News/ Iraq’s Central Bank (CBI) reported a significant decline in government spending and a corresponding decrease in the volume of currency in circulation by the end of 2024.

In a report on monetary and financial indicators, CBI said government spending dropped by 5.54% in December, totaling 12.95T IQD (about $10B) compared to 13.71T IQD (about $10.5B) recorded in November.

The decline in spending was accompanied by a reduction in the currency issued, which fell by 0.34 trillion dinars to reach 100.54T IQD ($76.8B) in December, down from 101.34T IQD ($77.4B) in November.

Last February, German market and consumer data platform Statista forecasted that Iraq’s government spending as a percentage of GDP would decrease in the coming years.

According to Statista’s report, government spending in Iraq accounted for 48.43% of GDP in 2024, marking the highest share in the past five years. However, it is projected to fall to 47.94% in 2025 and further to 45.1% by 2029.

MIKE BARA UPDATE

MIKE BARA

UPDATE: Okay, here is the latest I just received:

We WILL see a rate tonight, but we will “not be able to do anything about it until Tuesday. Think of it as an IPO.”

Also hearing the Bolivar will NOT be in the first basket.

That’s the update.