Thursday, September 9, 2021

WOTS THU SEP 9 21 Iraq without a budget in 2022

 WOTS THU SEP 9 21 Iraq without a budget in 2022

No My FX Buddies Podcast today 

Publishes the dollar exchange rates on the local stock exchange for Thursday (September 9, 2021), according to the monitoring of specialists.   

  

Baghdad - Stock Exchange of struggle  

147,400  

....  

The price is in most Baghdad exchanges  

Purchase  

147,000  

Sale  

147,750  

———————

Erbil - Bursa  

147,575  

——————— 

Basra - Bursa  

147,500  

——————————

Sulaymaniyah - Bursa  

147,650  

——————— 

Mosul - Bursa  

147,600  

————————  

Najaf - Bursa  

147,450 



The Markets:
The Asian markets closed mixed NIK down by .57% HSI down by 2.30% SHANG up by .49%
The UK markets are currently trading in the red from .04% to 1.21% 
Our futures are currently trading down  DOW at 34813  by .24% SNP at 4492.50  by .24% NDX at 15580.25 down  by .20%

Precious Metals:
Gold is green at 1795 Silver is green  at 24.15 Copper is green at 428 Platinum is red at 983 
Brent 72 WTI  69   Bitcoin: 46,087 10 yr yield: 1.33


Favorite Currencies Forex Quotes

SymbolBidAskHighLowOpenChangeTime
 USD/IQD  1433.4000  1484.2000 1456.9000 1456.9000 1456.9000  -0.3000 00:00
 USD/VND  22765.0000  22767.0000 22757.0000 22756.8500 22757.0000  -6.1600 22:47
 USD/CNY  6.4540  6.4560 6.4622 6.4540 6.4616  -0.0077 05:11
 USD/KWD  0.3002  0.3012 0.3003 0.3002 0.3003  -0.0003 05:04
 GBP/USD  1.3818  1.3821 1.3824 1.3753 1.3770  0.0049 05:12
 USD/IRR  42000.0000  42210.0000 42097.5000 42097.5000 42097.5000  0.0000 00:00
 USD/IDR  14242.0000  14242.0000 14299.0000 14231.0000 14266.0000  -25.0000 05:10

Things in the News:


Iraqi Articles:

Oil stabilizes as US production declines

link

Oil prices stabilized, Thursday, with US production declining in the Gulf of Mexico following the damage caused by Hurricane Ida, which boosted the market, but the economies of countries still did not recover due to Corona.

Brent added five cents, or 0.07 percent, to $72.65 a barrel at 05:12 GMT, and West Texas Intermediate crude fell 3 cents, or 0422 percent, to $69.28 a barrel.

About 77 percent of US production in the Gulf remained offline on Tuesday, or about 1.4 million barrels per day. The market has lost about 17.5 million barrels of oil so far.

The US Energy Information Administration said on Wednesday that US crude oil production is expected to decline by 200,000 barrels per day in 2021 to 11.08 million barrels per day.
American Petroleum Institute data showed that US gasoline stocks fell by 6.4 million barrels for the week ending September 3, while crude stocks fell by 2.9 million barrels.

On the other hand, OPEC + agreed to increase production by 400,000 barrels at a time when the economies of countries have not fully recovered from Corona.


Iraq without a budget in 2022

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The Parliamentary Finance Committee suggested that next year 2022 will be without a financial budget, due to the inability to complete and vote on it before the end of this year, attributing the reason to the preoccupation with conducting the elections and the delay in forming the next government.

Committee member Muhammad Al-Shabki said that the Ministries of Planning and Finance were supposed to submit their report to the Council of Ministers last August, including indicators and budget details at the level of expenditures, revenues, and the financial deficit.

He added that the Council of Ministers, in turn, reads the report and votes on the draft general budget law and sends it to the House of Representatives in mid-October, and the date set for sending the budget to the House of Representatives will coincide with the holding of legislative elections and awaiting their results.

Al-Shabki added that holding the legislative elections on time assures us that there is no budget law, ruling out voting on it at the end of this year, due to the preoccupation with the elections and the formation of the government, which takes 3 to 6 months.

Iraq reaches an agreement to resolve the procedures for implementing the economic city with Jordan

link 

The Director General of the Industrial Cities Authority in the Ministry of Industry and Minerals, Hamid Awad Muhammad, announced, on Thursday, September 9, 2021, that an agreement had been reached to resolve the procedures for implementing the economic city between Iraq and Jordan within the boundary between them, and at a distance of 500 meters from their borders, and north of the outlet Trebil, located in Anbar .Governorate

Muhammad said in a press interview, followed by "The Obelisk", that the city, which will cover an area of four thousand and 800 dunams, with a width of 2000 meters and a length of six thousand meters, will be implemented under a joint administration, and facilities will be provided to the industries of the two countries, and will provide .50 to 100 thousand job opportunities for the people of the two countries

He added: The economic city includes three main areas: the industrial city, the two free zones, and the logistical support, while the proposed area for the establishment of the area will be 400 acres inside and it is capable of expansion in the future, with the establishment of a similar city on the Jordanian side, noting that the city will be .managed in a manner Subscriber after choosing a site to create 

Earlier, Jordanian media reported that Jordan and Iraq discussed the necessary work mechanisms for the joint .economic city project after completing the allocation of land from both sides to establish the city 


It is likely that next year's budget will witness more investment projects. The appearance of Saleh: Reducing the hypothetical deficit due to the increase in revenues.

link

It is likely that next year's budget will witness more investment projects. The appearance of Saleh: Reducing the hypothetical deficit due to the increase in revenues.

 

The financial advisor in the Prime Minister, Dr. Mazhar Muhammad Salih, suggested that the next year’s budget 2022 will witness more new investment projects, which will be guaranteed to be implemented as a result of the increase in oil revenues. The price of black gold rose to exceed $70 a barrel, which economists rely on a lot to bridge the deficit gap in the public budget, which was built on the basis of a barrel price of $45.
Saleh stressed, during his speech to Al-Sabah, that "reducing the hypothetical deficit due to the increase in oil revenues in the federal general budget for the year 2022 will exceed important percentages of financing that deficit by means of traditional borrowing from local or international financing institutions to secure the needs of implementing new investment projects."
And the government advisor indicated that this matter will be done through two parts, the first is the additional funding and filling the deficit due to the improvement in the price of a barrel of oil, at five dollars above the price of a barrel approved by the 2021 budget, which will be mostly $ 50 instead of $ 45.
 
oil assets 
Saleh explained, “The second part relates to the cycle of oil assets, which still indicates an improvement in global oil prices, with an annual average expected to exceed $65 a barrel in 2022, with the growing détente of the global economy and the increasing levels of vaccination against the Corona pandemic and the return of its trade and investment entanglements and prosperity All forms of transportation sectors, indicating that the transportation sector is responsible for consuming 75% of oil derivatives in the world.
 
investment projects 
The financial advisor believes, “The list of new investment projects will be guaranteed to be implemented, and according to the flow of additional revenues in the general budget, which will cover the hypothetical deficit in the 2022 budget without having to resort to domestic or external borrowing, which helps to provide strength to the state of financial consolidation that is looking forward to to public finances in providing means of its sustainability.
Revenue stability
A spokesman for the Ministry of Oil, Assem Jihad, told the Iraqi News Agency (INA) that “the stability of oil prices at $70, despite the great challenges and the economic stagnation of many countries’ economies, is a good indicator for the member states of “OPEC +”, including Iraq, because it enhances their its fiscal revenues, revives their economies, and reduces the proportion of the fiscal deficit.”
Jihad indicated, "The stability of financial revenues for Iraq between 65 and 70 dollars during the past months is a good realistic indicator in light of the challenges facing the economies of countries and the (fragile) reality of the oil market," noting that "Iraq aspires to achieve higher revenues through commitment." With the gradual increases that were agreed upon in “OPEC +”, which contribute to reducing the proportion of the budget deficit.”

CBI Update:  Just  a note:   Not Updated

They have been having auctions and the ISX has been trading regularly; the sites just don't update in time to put the information in this report, unless it is 
here.   

Click on the link above for the latest update.

The CBI for rate is 1460

The currency auction For September  , 2021 total sales amount $ 

including   $0. CASH 

ISX Update:   

www.isx-iq.net/

Shares Traded: not updated for today
Value Traded: not updated for today 

9-9-2021   Intel Guru Fleming   Wednesday RV Report:  Our military intel contact is confirming Mr Fleming’s sources reporting...the official launch of the RV / GCR early this morning Wed 8 Sep; it had to be done THIS WEEK...Our guy’s info is that notifications are anticipated to come out by tomorrow Thu 9 Sep...working their way to us in T4B within 12-24 hours—watch and see. ...All rates are solid and no longer BLINKING. LOCKED IN.
9-8-2021   Intel Guru Frank26  Article "Proposal to digitally reintroduce small denominations"  These NSCN's coming to a bank near you soon.  Didn't [Guru] Walkingstick and I tell you they're going to explain to them [Iraqi citizens], tell them, why they changed the exchange rate, why they stopped the auctions, why they're coming out with new small category notes and show them pictures...This has been going on since June, July, August, September...    

9-8-2021   Newshound/Intel Guru Mnt Goat  The RV is coming soon...The process has not changed as it was given to me (us) in 2011 from the CBI. First the project to delete the zeros, then the follow up of a reinstatement to FOREX.      

9-8-202/1   Newshound Guru Kaperoni  What gurus say on a daily basis is utter nonsense. Pushing, hoping, wanting them two make a change now is only going to result in failure. Resulting in a LOP re-denomination and removal of 3 zeros.

9-8-2021   Intel Guru MarkZ  [via PDK]   Question:  Anything new about NDA’s?  I’m still hearing there may not be a NDA ...But, we will not know for certain until we get there. I don’t think the NDA will be as brutal as everyone fears. And make sure any bank accounts you have are “non discretionary” so they cannot play with your funds while you are sleeping…trying to make money or take risks on your funds.       

9-8-2021  Intel/Newshound Guru Frank26  These sanctions were a form of pressure for Iraq to pay its debt.  That pressure allowed them and forced them to work with the IMF and the US treasury and the World Bank in order to change the value of their currency - to recalculate on the second set of books.  It was successful.  They are paying off their debt.  They are Article VIII and that's why they [International companies] are pouring in... [Post 2 of 2]

9-8-2021  Intel/Newshound Guru Frank26  They are not sanctioned anymore.  I know they said when they pay it off [Kuwait debt] we will not be sanctioned anymore.  They've already paid it off IMO. They'll tell you soon.  They're not sanctioned.  To have no restrictions on your currency - this is a state needed for an economic reform and you need the monetary reform before you can have the economic reform.  It's a fact of mathematics.  To be released from their sanctions is not directly related to the CBI's monetary reform but it is evidence that the CBI has made a change to their monetary reform... [Post 1 of 2] 

9-8-2021  Newshound Guru Pimpy    [Response to Guru Kaperoni 9-4-2021]   I think the reason why it's important for them to recover the stolen funds is so they can have a more accurate idea of how much is in circulation so they can decide whether or not it's feasible for them to do a rate change that high.  It's possible they could come out and make some kind of announcement and do an RI or an RV but my feeling is they're going to go up in increment whether it's fast or large increments it remains to be seen...But yeah I understand what you're saying.  I agree there's no way in God's green Earth they're going to make an announcement with 45 trillion dinars...72% of it destroyed, that sill leaves a lot of trillions so I get what you're saying.  I appreciate the shout out...  [Post 3 of 3]

9-8-2021  Newshound Guru Pimpy  [Response to Guru Kaperoni 9-4-2021]  The truth is we're not exactly sure how many is out there in circulation.  But I understand what you're saying.  When I first got into this I was like there's no way in hell, they have way too many of them.  We know the United States is holding between 11 and 14 Trillion of it and we know central banks are holding on to God knows how much.  There's also private entities that are holding on to God knows how much.... [Post 2 of 3....stay tuned]

9-8-2021  Newshound Guru Pimpy   [Response to Guru Kaperoni 9-4-2021]  I'm aware of how many trillions of dinars they have...we know they created 55 trillion, says so right on their website.  What I talked about is the fact that for 5 years they spent between $1 ad $1.5 billion of oil revenues buying dinar off the open market. No body knew how many of them they bought, how many were destroyed.  We know they destroyed them, there's confirmation of that...72% of the dinar was destroyed.  Not the old dinar, this dinar that we're playing with right now 72%...not to mention the amount that was burnt up and destroyed by ISIS and the number of dinars that were destroyed during the flood. [Post 1 of 3....stay tuned]

9-8-2021   Newshound Guru NORV   [aka Guru Kaperoni]  ...the auction are a BALANCE between dinar and dollar. That being so, there is no way to reduce the money supply with the auctions. Any attempt to do would cause one or the other currency market rate to change. They are trying to keep it stable, not cause further devaluation...when the exchange rate is stable, be assured it is because they have done a good job supplying one or the other to meet demand...And if we know anything, is that the CBI is pumping more dinar not less into the market since the money supply is now around 80 trillion dinar.

9-8-2021   Intel Guru MarkZ  [via PDK]   Question:  Can we ask for the rates on the back screens?  I am told that the all rates have been pre-determined…they are set. Fees are set. This is part of the treaty and there is no negotiating. This is what I have been told and I believe it to be accurate.

9-8-2021   Newshound/Intel Guru Mnt Goat   Our RV news this period is VERY GOOD. We heard from the Finance Minister Ali Abdul Amir Allawi as he confirmed once again that the white paper seeks to fundamentally change the nature of the Iraqi economy. WOW! What good news this is!...This is the guy that is going to add support for the currency reform we are looking for. In other recent past articles he talked about the necessity to put the IQD out on a managed float on the global market place and he did reference FOREX itself. This was WOW news for me and so we sit and wait for his next move.


Catnip's Corner:
Happy Thursday!! Here are my "snippets" for Thursday, September 9.

Lynn :)

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ARTICLE 1-A (from PM Kadhimi's website; posted only on Arabic side, not on English side; 13 pix)

The most important thing that Prime Minister Mustafa Al-Kazemi spoke during his reception of a number of wounded people from the October demonstrations

🔵 You went out for realistic demands, for a decent life, but unfortunately you were attacked and we all became in an unenviable situation.

🔵 What is required after 2003, is that we learn from our experiences of what Iraq has gone through from the ugly dictatorship, and work to not repeat what happened, but it was repeated because the rulers moved away from a sense of responsibility towards their country and their people.

🔵 Iraq is a country that deserves its citizens to be in a much better situation than the current situation.

🔵 We came in exceptional circumstances, and we tried to search for your full and undiminished rights, and we issued a decision in the Council of Ministers to compensate the victims of the demonstrations and treat the wounded, and unfortunately, Parliament refused.

🔵 We continue day and night in order to establish a simple principle, which is to restore consideration to every Iraqi, and we must be optimistic even in difficult circumstances.

🔵 You have taken responsibility on behalf of all Iraqis, and you have sent a message to the international community that we have a chance for change.

🔵 Some of your demands have already been achieved, with regard to the title or the national slogan, and thank God we are on our way to early elections, we hope to succeed in changing our reality.

🔵 Some of you say: What did we get other than a wheelchair and health problems, but we are working hard to achieve what you are asking for.

🔵 I have previously met some of the wounded in the demonstrations, and we have sent some for treatment at the expense of the state, or they have been received from friendly countries, we will not fall short with you, and the effort we are doing is not equal to what you did in reality.

🔵 We will not have to surrender to fate, and I am optimistic about the future, and it will be better, and the elections will bring a government that is responsible towards the citizens, and that has tools and mechanisms to overcome obstacles in front of you.

🔵 As an Iraqi person, I bear the responsibility towards you, you are like our sons and our children, from this site, or from others, we must bear the responsibility, and I pledge to follow up on your humanitarian issues, this is a promise to you.

Media Office of the Prime Minister
8 - September - 2021

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ARTICLE 1-B (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Prime Minister Mustafa Al-Kadhimi meets with the Special Representative of the Secretary-General of the United Nations in Iraq

Today, Wednesday, Prime Minister Mustafa Al-Kadhimi received the Special Representative of the Secretary-General of the United Nations in Iraq, Mrs. Jeanine Hennis-Plasschaert.

During the meeting, they discussed Iraq's latest preparations for the electoral process, and the latest preparations that would make the parliamentary elections scheduled for October 10 a success.

Mr. Al-Kazemi stressed that the government's continuous and tireless efforts are aimed at ensuring success, and ensuring effective popular participation in the elections; To ensure that its results are the true expression of the free will of the Iraqi people.

During the meeting, emphasis was also placed on bilateral coordination between Iraq and the United Nations, and the flow of work of the international monitoring teams that will participate in enhancing the credibility of the elections.

Media Office of the Prime Minister
8 - September - 2021

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ARTICLE 1-C (from PM Kadhimi's website; posted only on Arabic side, not on English side)

Speech of Prime Minister Mustafa Al-Kazemi during his meeting with a number of educators on the occasion of the International Literacy Day

🔵 We celebrate this day, on the International Literacy Day, which would promote everything that preserves human rights through science and education.

🔵 Despite the presence of a huge number of illiterates in the world, it is painful to find among the sons of Iraq those who cannot read and write.

🔵 It is inconceivable that there are illiterate people in the land that made the stationery and the pen thousands of years ago.

🔵 In the Iraq of civilization, it is necessary to create an educational and educational process worthy of this great name who taught the world writing and letters at a time when the earth was silent about doing so.

🔵 We regret that successive governments did not work on real and effective programs to end illiteracy in Iraq.

🔵 We directed the Ministry of Education to develop a comprehensive and deliberate plan to combat illiteracy on a comprehensive national scale, especially as we are facing a continuous population increase in Iraq that requires scientific and rapid treatments to support education.

🔵 Illiteracy and ignorance create an environment for extremism, social diseases, crimes and other evils of society.

🔵 There is a failure in education that has led to the creation of a climate of ignorance, crises, acceptance of wrong ideas, and absurd wars that have produced a complex environment with the disappearance of interest in education and health.

🔵 We must admit that mismanagement, corruption, and the lack of a real educational cadre contributed to the low level of education.

🔵 We must take correct steps to support the Ministry of Education and the educational and educational staff by providing them with a life worthy of them so that they can perform their duty in the best way.

🔵 We must be among the countries that are looking for a better educational future for themselves and their children.

The future requires a social system in which an educated society believes in science, education and culture.

The nation is built with effective security institutions, a strong judiciary, successful education, and an effective health system.

🔵 What was spent during the past decades in wars and conflicts, and what was wasted in corruption and theft, if it had been invested in previous fields, Iraq would have become in another situation today.

🔵 Previous budgets in the field of education are a shameful thing, and it is required that there be an increase in the upcoming budgets that befits the name of Iraq and our responsibility in managing this country.

🔵 Our goal is to build a strong Iraq with science, culture, civilization and civility, and we must work to establish a culture of life and thinking about the future, and all of this can only be done with serious and regular work, and investment in the education sector.

🔵 Belonging to the homeland is the basis, and we all must not offer any other affiliation to it, because Iraq is what unites us and we cannot live without it.

🔵 I salute the efforts of all educational and teaching staff to combat ignorance, illiteracy and backwardness, you are the pride and glory of Iraq, and you are making leaders, scientists, doctors, engineers, and all the competencies of the great Iraq.

🔵 All Iraqis have the right to a free and decent education that opens the mind and knowledge; To reflect on nation building.

🔵 We do not want to plunge the country into new labyrinths called ignorance, backwardness and not thinking about the future.

🔵 Our goal is to build a prosperous Iraq of high value, which it and its people deserve the least.

🔵 I greet once again from here all the educators, teachers and teachers in the Ministries of Education and Higher Education, and I say to them with all humility and bowing: You are our pride and in you we prevail and build.

Media Office of the Prime Minister
8 - September - 2021

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ARTICLE 2-A (from Government of Iraq twitter account)

PM @MAKadhimi receives the Special Representative of the UN Secretary-General in Iraq, Mrs. Jeanine Hennis-Plasschaert, and they discussed Iraq's latest preparations for the elections, and the preparations that will make the upcoming parliamentary elections a successful one.
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ARTICLE 2-B (from Government of Iraq twitter account)

The Cabinet confirms that it has reached full readiness to hold the elections as scheduled.

 08 Sep 2021 - 12:38 pm

The Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.

 

The Prime Minister confirmed that full readiness has been reached with regard to holding the elections next October, after the government fulfilled its obligations and completed all the requirements of the technical and security electoral process.

 

After discussing the topics on the agenda, the Council of Ministers issued several decisions :

 

The budget law for the year 2022 will include the amounts necessary to conduct the general population census within the budget of the Ministry of Planning.

 

The Ministry of Finance allocates an amount of (3) billion IQD, to the holy governorate of Karbala from the emergency reserve.

 

It is sufficient to bring a negative PCR test for Iraqis coming from India given that it is conducted within (72) hours before their entry into Iraq, with a pledge to quarantine them at home (10) days, and ensure that they are free of symptoms of the disease.

 

Authorizing the Director General of the General Directorate of Water in the Ministry of Construction, Housing, Municipalities and Public Works, the authority to sign the contract and disbursement, regarding the project (seawater desalination in Basra Governorate).

 

The Independent High Electoral Commission may seek the assistance of the required numbers of employees working in schools used as registration or polling centers for a period not exceeding one month.
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ARTICLE 3
Setting a date for Iraq to receive the Gilgamesh tablet from Washington
05:29 - 08/09/2021
Baghdad - Mawazine News
Today, Wednesday, the Minister of Culture and Antiquities, Hassan Nazim, set the date for receiving the Gilgamesh Tablet from Washington.
Nazim said, "The most cooperating country in recovering Iraqi antiquities is the United States of America, which contributed to the recovery of 17,000 artifacts," noting that "there is another group of antiquities that will be recovered at the end of September."
He added, "The most important of these pieces is the Gilgamesh Tablet," noting that "the US State Department has completed the legal procedures to receive it, and we will receive it at the end of this month or next month."
He pointed out that "the ministry is working to recover the artifacts found in Europe, but there are difficulties with some countries whose laws allow us to keep our antiquities."
He continued, "The ministry bases its work on the United Nations resolution, which stipulates the prevention of smuggling and non-trafficking of Iraqi antiquities, as well as Iraq's friendship with countries and its agreements with them."
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ARTICLE 4

The launch of the activities of the second Erbil International Exhibition for Real Estate and Investments
10:47 - 08/09/2021
Baghdad - Mawazine News

Yesterday, Tuesday, the activities of the second Erbil International Exhibition for Real Estate and Comprehensive Investments were launched, with the participation of (150) diversified and specialized companies for construction, real estate, infrastructure, investment and building materials, and on the grounds of the Erbil International Fair, which is organized by Loyal Company in cooperation and coordination with the General Company for Iraqi Exhibitions and Commercial Services.

The Director General of the General Company for Exhibitions and Commercial Services at the Ministry of Commerce, Sarmad Taha Saeed, said, in a statement received by Mawazine News, that "more than 150 companies from Iraq, Egypt, Iran, Turkey, Syria, Jordan, China, Germany, France, Italy, Azerbaijan and India participated in the exhibition. And it continues until 9/10/2021.”

Saeed said that "the exhibition witnessed the participation of specialized and discreet construction and construction sector companies in the field of reconstruction, which seek to find a fertile ground for investment inside Iraq," adding that "the exhibition is an important step aimed at stimulating the economy that is witnessing a recovery in Erbil, as it is an important opportunity to invest and encourage companies Arab and foreign countries to enter into an investment competition for the reconstruction of infrastructure.

He pointed out that "the establishment of such exhibitions is a great opportunity for international companies participating in order to display their productions in the markets of the Kurdistan region, which is considered one of the most promising markets, in addition to the openness of Iraqi businessmen and traders to obtain exclusive agencies from these international companies."

Saeed pointed out that "the exhibition is an important step in order to contribute to increasing and encouraging the volume of trade exchange and experiences and revitalizing relations between Iraqi investors and their counterparts in various countries of the world," noting that "the exhibition company in Erbil has taken upon itself a pledge that the company organizing the exhibition will take all precautionary measures." And health and provision of the necessary materials and supplies of fumigation and sterilization devices to prevent the spread of the Corona virus during the duration of the exhibition and according to the directives of the Crisis Cell and the Ministry of Health and Environment.

The opening of the exhibition was attended by the Minister of Housing and Construction, the head of the Investment Authority in the region, Muhammad Shukri, the head of the Iraqi Contractors Union and the Union of Exporters and Importers in Kurdistan, as well as commercial and economic figures, some businessmen and a large gathering of citizens.

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