Clare: New details regarding the 2025 budget tables.. Check them out
10/29/2024 Baghdad
The government confirmed that the 2025 budget will remain within the range of 200 trillion dinars, despite the parliamentary finance committee’s demands to reduce it to match the expected financial revenues for next year.
In this context, the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, explained that “the 2025 budget will remain linked to the constants approved in the Federal General Budget Law for the three years (2023-2024-2025), which was previously submitted by the government and approved by the House of Representatives.”
Saleh stated that “next year’s budget will include a hypothetical deficit of 64 trillion dinars,” indicating that “this deficit is a precautionary deficit that has been approved by law to deal with revenue fluctuations, especially oil revenues, which are affected by changes in global energy prices and the oil asset cycle.”
He added that “the total spending ceiling will approach 200 trillion dinars, according to the country’s financial and economic conditions.”
He pointed out that “the price of a barrel of oil in the three-year budget, which includes the 2025 budget, was set at $70. If the price of oil exceeds this level, this will lead to a reduction in the expected hypothetical deficit in the budget.”
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Clare: Commercial Bank allows buying dollars through Kurdistan airports
10/29/2024 Baghdad
The Commercial Bank of Iraq announced the possibility of purchasing dollars by travelers through the airports of the Kurdistan Region in Erbil and Sulaymaniyah at the official price.
The bank stated in a statement that the traveler must deposit the necessary amounts in Iraqi dinars in one of the branches.
The Commercial Bank of Iraq in Mosul, Erbil, Sulaymaniyah or Dohuk to be able to obtain the dollar at the official price.
He pointed out that “the traveler must have a valid Iraqi passport with a valid visa or residency, in addition to a civil status ID or national card and a valid travel ticket.”
He added, “The traveler must pledge not to buy foreign currency from another party in Iraq for a period of one month, and he must be Iraqi and over 18 years old.”
According to information, travelers can buy dollars in amounts up to 3 thousand dollars, at the official price of 132 thousand dinars for every 100 dollars. LINK
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Courtesy of Dinar Guru: https://www.dinarguru.com/
Frank26 [Iraq boots-on-the-ground report] FIREFLY: TV says Iraq has implemented a new hybrid monetary process. FRANK: A second set of book that uses a different exchange rate!
Militia Man Iraq is losing billions per month… Why aren’t they pumping oil out of the Ceyhan? I think that’s because they need to value the assets…which is oil coming out of the ground…What is going to be the components of that ‘base currency’ they talk about. What is the base currency they talk about? The Iraq dinar. If it’s going to be a base currency what’s the real effective exchange rate. And that’s those budget tables in 2024. That’s what I’m looking for…I think we’re going to see them in very short order.
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