KTFA

Rich4hyip: Never seen the budget signed by the president so quick, it is unprecedented.

Samson:  The Presidency of the Republic approves the Financial Budget Law of 2019

4th February, 2019

Sadeq President Barham Saleh, Monday, the Finance Budget Act of 2019.

A statement by the Presidency of the Republic received the agency / information / copy of it, “President of the Republic Barham Saleh Sadiq, today, on the financial budget of the Federal Law for the current year”.

Saleh stressed, according to the statement, “the need to provide basic services for citizens, and start the stage of construction and reconstruction,” praising “the efforts that contributed to the preparation of the draft budget and study and legislation, whether in the government or the House of Representatives.”    LINK

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Samson:  Central Bank: We bought 20 trillion treasury transfers to move the market

4th February, 2019

The central bank governor Ali Al-Alak said on Monday that the bank bought 20 trillion treasury bills to move the market.

“The monetary policy occupies an important part of the economy and investment sector and the central bank participates to achieve it,” Al-Aallak said during a dialogue session at the Rafidain Conference held in Baghdad and attended by Baghdad. “Monetary policy achieves economic stability. The stability of the exchange rate and the adequacy of reserves. Fundamental to the stability of the economy.”

He added that “the central bank has not only achieved the basic goals, but entered the economic growth, which is unconventional policy,” noting that “through the unconventional approach we have bought 20 trillion of treasury transfers and the purpose of maintaining the economic situation and move the market.”

He pointed out that “the central bank has taken the initiative of unconventional, the initiative of lending agricultural, housing and industrial and launched financial allocations, which is important,” as he can secure financial for any real project if the necessary conditions.”   LINK

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Samson:  The most powerful economic country in Europe faces a huge financial deficit

4th February, 2019

Bild, citing an internal government document, said Germany would face a budget deficit of 25 billion euros ($ 29 billion) by 2023 unless it guides spending. Tax revenues are expected to fall as wages rise.

The possibility of a budget shortfall would entail a major deterioration in the financial situation of Europe’s largest economy, which posted a surplus of 11.2 billion euros last year.

The warning came in a report prepared by Finance Minister Olaf Schultz to his colleagues in the government as part of preparations for periodic discussions of budget plans.

Trade tensions between China and the United States and the possible impact of Britain’s exit without an EU deal have prompted Germany to cut its growth forecast for the current year to 1 percent as the decade-long boom in the European economy’s locomotive comes to an end.

Bild said tax cuts in more difficult conditions would lead to a 5 billion euro annual loss.

A 25 billion euro gap means a budget deficit of less than 1 percent of current GDP.

The ministries involved in a budget planning meeting last week were warned to curb spending, partly because the government’s wage bill, which is expected to reach 35 billion euros in 2020, is expected to increase from 31 billion euros in 2016.    LINK