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Samson: Parliamentary Finance: Budget 2020 will bring a boom in the Iraqi economy
29th June, 2019
The Finance Committee of the parliamentary, Saturday, their agreement with the Ministry of Finance to receive the draft budget next year in September, indicating that the budget 2020 will make a quantum leap in the Iraqi economy.
"The Finance Committee and the federal ministries continue in meetings to discuss the budget next year and what are the basic needs of the government."
He added that "the committee agreed with the Ministry of Finance to submit the budget early September next to include radical changes in public expenditure and investment funds and services."
He explained that "the 2020 budget will be completely different from the previous budgets and will be closely matched with the government program to create a qualitative boom in the Iraqi economy," noting that "the budget will be the highest in the history of budgets because of the availability of financial liquidity due to high international oil prices." LINK
Godlover: Although this is a powerfully awesome article, it does concern me that they seem to always be implying the 2020 budget is the one that has the new rate in it & not before imo. Even the FML is to be enacted in the 2020 budget. I am still hopeful we will see it before next year, however more expectant for next year imo.
Fuze: Not concerned at all about 2020 activation of the ri and new rate. Why not? Because several articles staring 5 years ago have identified 2019 and since then 2019 has been identified as the year to COMPLETE financial reforms and raise the rate. Not one has identified 2020 as the year for the ri/rv at this point!
Sunkissed: A few important facts to assure you they are not implying the 2020 budget has the rate and not before.
1. The FML (Financial Management Law) Amendment is PASSED => That clearly relates to NOW, not later.
2. Yes... the 2020 budget does contain the rate, but they don't wait until 2020 to release it. Their discussions are held in September and the COM (Council of Ministers) agree on it before submission to the HoR (House of Representatives) in October for voting and passing, then implemented for passing January 01, 2020
3. Delta and Frank's opinions were that October would be the back wall date, because of the 2020 budget.
4. With everything else in print, all facts in print point to a clear and present rate release (certainly NOT a YEAR FROM NOW) => Let's not allow a single article to throw you off the facts revealed by all of the articles that we have seen just this week!
I know they talk oddly in Iraq with their "next" and "this" but everything appears to be in alignment and with the UNSC in Iraq RIGHT NOW sure is a great thing!!!
NOTE: ALSO the FIRST PASS of the budget must be submitted no later than July 20th 2019, for review. The cat has to be out of the bag in advance of THAT!!~ Sunkissed
MilitiaMan: Fascinating that all that is transpiring of late and today even has your view more expectant of next year.. I suggest having a view like that may warrant a serious review of what has transpired over the last couple months, few weeks, days and even today. This link shows that they have been spot on so many things that they effectively have been bragging about it in many articles like this one. imo ~ MM
A letter open to the Prime Minister of Iraq, his people and his economy first
"All these achievements have prompted the Arab bank governors to elect the Governor of the Central Bank as the current governor of the Arab Monetary Fund and as the chairman of their board in the next session, a vivid embodiment of Iraq's economy recovering from its crises and that is a tribute to the Iraqi people and its economic, financial and banking institutions" LINK
MilitiaMan: The amount of data that supports this going sooner than later is imo as blatant as it gets. Take the UN for instance. They came to Iraq for a meeting that is the first of it's kind and affirms support for her sovereignty.
With that sovereignty comes her currency. I have a hard time believing they showed up for a historic event to tell the world Iraq is international now at a program rate still.
I am sure they are not celebrating today and tomorrow about lifting the last barrier to be a piece of concrete. Symbolic as it may be, but, lifting the barriers on the sovereignty of Iraq and her currency is far more likely and far more symbolic globally.
The CBI just talked about conversion in electronic systems, as in ATMs and was reassuring that since the have not all the needed ATMs thus far, they have agents ready to help in facilitation of the conversion process to come. With that said, lets not forget that there are citizens that get paid cash and that would have to be at the same time as the conversion process begins.
Thus, the new Visa and Master Cards set to be international next week would have to have everyone on a level playing field. All Proxies are to be gone tomorrow. That imo includes the proxy program rate. imo Now that happening here in the short term is and will be in the record books as historic!! ~ MM
Abdul Mahdi meets members of the UN Security Council
"Our historic visit to Iraq is the first of its kind and we affirm our support for the sovereignty and stability of Iraq and the Iraqi government's direction," the office quoted members of the Security Council as saying. LINK
MilitiaMan: So in respect to the 2020 budget that is will bring a boom in the Iraqi economy? Yes, you bet it will. As what transpires now with the new applied exchange rate to the present budget throught the mechanisms the CBI has in place for that will need to be carried forward into the 2020 budget and will indeed be far different.
IT will also most likely reflect claw back assets and more Gold they found many months ago that is not publicly yet stated, other than articles. I;ll bet KPMG and EY have a perspective on those matters!! imo ~ MM
Parliamentary Finance: Budget 2020 will bring a boom in the Iraqi economy
"the committee agreed with the Ministry of Finance to submit the budget early September next to include radical changes in public expenditure and investment funds and services."
MilitiaMan: This one shows that they are going to benefit the region. This is not a futuristic article. It is based off what has been done now and will be effecting them in short order.. A big kiss for all! imo ~ MM
Halabousi: Revolution of the twentieth point of turning Iraq and Iraq plays an important role in the region now
Parliament speaker Mohamed Halboussi said Saturday that the 1920 revolution represented an Iraqi turning point, stressing that Iraq has played an important role in the region at the present time, making it a kiss for officials in the region. LINK
MilitiaMan: This one shows they need this done now not later. They are flat out saying raise the rate now. If you don't you'll lose it.. imo ~ MM
Pharmacist: Throwing the ball of flame between the government and parliament will not solve the problem and the budget law must be amended
"If the government does not expedite the introduction of a draft amendment to the budget law, it will be closed to the government," the pharmacist said in a leaflet on his Facebook page. LINK
MilitiaMan: So I hope this helps the view to be more focused on what they are doing collectively and at present. ~ MM
MarkPam: Excellent review of the facts and interpretations MM. thank you!!
If I may add a quick “theoretical” perspective that could be ABSOLUTELY WRONG, but, could the one day delay in voting on the the CBI governor allow Alaq to announce the new rate overnight prior to the initiation of the new CBI leadership?
Allowing him to receive the accolades for all his effort and work? Again, just a theory/guess and would sure be nice if true.
Especially with all that has occurred the last 7 days. IMO