News, Rumors and Opinions Wednesday Afternoon 4-3-2024
KTFA:
Clare: Saleh: The budget tables took into account economic variables and social conditions
4/3/2024
The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed that the financial budget tables for the year 2024 took into account the social and economic conditions of the country.
Saleh told {Al-Furat News} agency, “The financial tables prepared in the budgets took into account the economic and social conditions and variables required by the country’s need for development and economic progress in the year 2024, in order to proceed with their implementation as an annual financial plan that works within the framework of the principles of the tripartite general budget itself, in letter and spirit.”
Member of the Parliamentary Finance Committee, Jamal Cougar, had expected that the schedules would take 20 days in Parliament after they arrived from the government for approval.
A few days ago, the Council of Ministers received the budget schedules from the Ministry of Finance, and work has begun on them to be signed and later sent to the House of Representatives.
Raghad Dahham LINK
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Don961: Recovering “dormant” accounts belonging to the former Republican Guard
Baghdad: Al-Sabah
The Iraq Assets Recovery Fund was able to uncover and return accounts belonging to the Republican Guard in the previous regime, worth more than 4 billion dinars.
Vice Chairman of the Fund’s Board of Directors, Ayman Dawoud Salman, told the Iraqi News Agency (INA), “The Fund was able to uncover dormant accounts for more than 20 years belonging to the Republican Guard in the previous regime, with a value of 4,386,303,138 Iraqi dinars, and return them to the accounts of the Ministry of Finance in the Central Bank.” The Iraqi.
On a separate level, the work team of the Basra Investigation Directorate of the Integrity Commission was able to arrest an employee at the Shalamsha border crossing. For his delivery of the beginnings of about (60) “trailer” vehicles loaded with skewer iron to the owner of the importing company; In exchange for obtaining sums of money,” the Integrity Commission’s statement explained that “the purpose of the manipulation of the weights, which was carried out in agreement with the scale employee; “It is to evade paying customs duties.”
The statement added, “This act led to a waste of public money,” noting that “60 cars loaded with iron and their pallets were seized, in addition to five drivers.”
He pointed to “the decision of the judge of the investigative court specialized in examining integrity cases in Basra to arrest the accused in accordance with the provisions of Articles (340) of the Penal Code and (194) of the Customs Law.”
The statement continued, “At the Safwan border customs port, the directorate’s work team was able to arrest a customs broker red-handed as he received the first installment of the bribe amounting to four million Iraqi dinars, and thwarted an attempt to enter a vehicle that was not allowed to be entered in an illegal manner in agreement with employees at the port.” And Customs,” noting that “they controlled the transaction of the car in the possession of the accused, who explicitly admitted to receiving the money in exchange for removing the cars from the port in violation of the law.” LINK
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Mnt Goat In today’s news articles we learn about the expiration of the extension of the US President’s Executive Order 13303 put in place in 2003. So, there is no extension this year…Why is this so important to us investors? First, the expiration of 13303 shows to us once again that Iraq is slowly moving out of the sanctioned mindset altogether. But now we moved to a new level. We know that in December of 2022, Iraq completed its war reparations payments to Kuwait and thus followed that all the remaining UN sanctions were lifted. [Post 1 of 2….stay tuned]
Mnt Goat What happened next was the VERY quick response by the CBI to begin the de-dollarization process in Iraq in 2023. Then the unanticipated length of resolving the issue of the stability with the parallel market which delayed the process we are now looking for. Last week they told us the parallel market is now under control…I verified this with my CBI contact…Many investors have been waiting for this news…and tell us that this is a VERY GOOD sign for us in that since we no longer will be needing this protection, since maybe the dinar is soon to be free to move into its full potential as a sovereign, global currency…Remember it is normally renewed on April 1st and so what is in stored for us in April? Just saying… [Post 2 0f 2]
Cbi of Iraq
Nader: 4-2-2024
Strong Economy Narrative Is Farcical! with Matthew Piepenburg
WTFinance: 4-3-2024
During our conversation we spoke about what is currently happening in the economy, why speculators are the only ones making money, no alternative to the US Dollar, Financial repression, wealth divide and more. I hope you enjoy!
0:00 – Introduction
1:45 – What is currently happening in the economy?
5:57 – Debt owned by bottom 50%
13:25 – Speculators the only ones making the money?
18:22 – No alternative to the US Dollar
28:22 – Strong US Dollar moving forward in short-term?
33:23 – Potential for Financial Repression?
37:33 – Is there away out of the current crisis?
40:19 – How do you get rid of the wealth divide?
45:00 – Last question to takeaway from podcast?
