I spoke with my Iraqi contact who works within the Iraqi government…I asked him…could Iraq be transitioning to a different fiscal period from April through March? …He could not give me an answer either way…the next question I asked him was, their ‘when do you think Iraq might be completing 2020 budget’ and he said they’re gonna probably get to it a little bit later this year. They’re just busy. They have a lot going on. He said they probably won’t be completing the 2020 budget until the month of May…that raised a red flag with me. Here’s what that might mean…there’s a good chance that the Iraqi Government might not even start the voting process on the budget until after the rate changes which means they might not even start the budget until the month of April.
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