Clare: Parliamentary Committee: The fluctuation of the dollar price is the most important obstacle to approving the 2023 budget
On Friday, a member of the Parliamentary Legal Committee, Salem Ibrahim Al-Anbuge, counted the fluctuation of the exchange rate of the dollar in the market as the most important problems facing approving the financial budget for the year 2023, expecting it to be approved in late March or early April.
Al-Anbuge told Shafaq News agency, “The budget law and its draft are still with the government, and it has not reached Parliament yet, and its provisions have not been finally clarified, which requires expediting its submission to Parliament and presenting it with several readings to reach a final formula for approval.”
He added, “The fluctuation of the dollar price and its determination in the 2023 budget are the most prominent obstacles to approving the budget, in addition to some items that have not been put up for discussion so far, so it is unlikely that the budget will be approved early.”
Al-Anbuge said it was likely that the budget would be approved and agreed upon between the parliamentary forces during March or April of next year, adding that “there may be early agreements as a result of the keenness of the political forces to approve the budget in response to popular pressure and the basic living and entitlements of the citizen.”
Iraq confirms that the budget for the year 2023 will cross the threshold of 100 billion dollars for the first time in years, due to the large financial revenues available to Iraq.
It is noteworthy that the financial budget for the current year 2022, which is nearing completion, was not approved by the Council of Ministers and Representatives due to the turmoil that Iraq witnessed after the early elections in October 2021, which escalated to dangerous levels that ended with the events of the Green Zone, with armed confrontations between supporters of the Sadrist movement and the forces. security forces, which claimed dozens of lives and injured hundreds.
After the end of the crisis, with the agreement of the political blocs to elect the President of the Republic and to grant confidence to the government of Prime Minister Muhammad Shia’a al-Sudani, the latter pledged that he would present the draft federal budget law for the year 2023 as soon as possible. LINK
Henig: Baghdad (IraqiNews.com) – Bosch, a prominent home appliance company, just launched a new store in Baghdad, Iraq. The new branch is situated on Kharidge Road in the Karada neighborhood of Iraq’s capital.
The German company has expanded internationally and is now aggressively targeting the Iraqi market with its high-quality engineering products. Refrigerators, dishwashers, dryers, vacuum cleaners, and other household appliance devices fall within this category.
Iraq has recently seen a surge in worldwide brand establishments due to greater stability and safety.
Henig: Minister of Justice: The adoption of the electronic automation will eliminate forgery, nepotism and corruption
The Minister of Justice, Khaled Shawani, confirmed today, Thursday, that the work on the electronic automation project comes within the ministry’s policy to keep abreast of technological developments and end paper-based transactions, and would eliminate forgery, nepotism and corruption.
A statement by the ministry, received by the Iraqi News Agency (INA), said: “The Minister of Justice, Khaled Shawani, inaugurated the Real Estate Registration Directorate in Abu Ghraib.”
During the inauguration, the minister stressed that “the ministry is working to open the judicial complexes in all Iraqi cities, in addition to opening the directorates affiliated with the real estate registry, to serve the citizens as well as to preserve their property.”
The statement indicated that “Shawani is determined to carry out real reforms in the real estate registration departments, including the start of the electronic automation project, which will eliminate fraud, nepotism and corruption, and speed up the procedures for completing citizens’ transactions.” LINK
Frank26 Why is the dollar going up in value inside of Iraq? Because they de-pegged from the dollar weeks ago…because it’s about to go outside in a basket of possibly 29 currencies...
Frank26 The CBI has some amazing, powerful, secret, caliente (Spanish for hot) – very hot meetings constantly on a daily basis. More than one meeting a day for this purpose about the 29th of January 2023. The Iraqi dinar is going to go international…Iraq is growing up. The Iraqi Stock Exchange on the 29th is going international…the 29th of January is coming from the CBI…Prime Minister Sudani…you can’t get to the 29th of January without going international unless the platforms are set and ready to go…
Is The MMRI About To SUPERSPIKE? If So, The World’s Stock Markets Will CRASH.
Greg Mannarino: 12-23-2022
(MMRI=Mannarino Market Risk Indicator)
US Debt Selloff Continues
Smart Silver Stackers: 12-23-2022
New data from the Treasury shows that foreign holders of US debt dumped more than $111 Billion worth of US Treasuries in October.
The largest holder Japan was also the biggest seller, and China’s US debt holdings are at the lowest point since 2010.
The global dump of US debt combined with the Fed’s ongoing program of QT may be reduce liquidity in the US debt market enough to trigger a crisis, and if that happens, the dollar is toast.
If the fed is forced to resume QE to control bond yields, their inflation fight is over.
As global tensions continue to heat up in 2023, this problem is only going to get worse, and more countries and investors are going to be turning to the safety of gold & silver