“Hold on Tight” – Fri. AM TNT Thoughts/News 9-10-21

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TNT

Tishwash:
Iranian artillery bombards areas in Erbil

Today, Thursday, a security source reported that Iranian artillery bombed villages in Erbil Governorate.

The source told Alsumaria News, “Iranian artillery bombed the villages of Tallan, Bani Rashkanin and Barbizin in Erbil Governorate.”

On the reason for the bombing, the source stated that “on the pretext that there is a Kurdish opposition against the regime.” Tehran”.   link

In numbers and details.. the 2022 budget and a precedent that did not happen before

The financial advisor to the Prime Minister, Mustafa Al-Kazemi, revealed the completion of the draft federal budget bill for 2022.

Mazhar Muhammad Salih said in a press statement, “The financial authority represented by the Federal Ministry of Finance is close to completing the preparation of the draft federal budget bill for 2022,” noting that “the Strategic Budget Committee and through its meetings that were held in more than 24 meetings throughout the year, I have concluded that the spending ceiling in the 2022 budget will not exceed the spending ceiling in the 2021 budget, and if there is an increase, it is likely to be 10%.”

He added, “The only thing that has been updated in the 2022 budget, is that the price of a barrel of oil will be around $50 per barrel, as announced by the Minister of Finance, and there are non-oil revenues that are supposed to increase, and therefore the assumed deficit that was proven in the 2021 budget is up to 29 trillion dinars.” It is expected that it will decrease to 18-20 trillion dinars, which will lead to a decrease in the deficit and an increase in revenues.”

He pointed out that “this budget could be legitimate if it was submitted to the Council of Ministers before the government entered the stage of conducting business, or Parliament suspended its work,” noting that “according to the available information, the draft budget is prepared and will be submitted in the near future.”

And he indicated that “the budget was dealt with with high impartiality and outside political disputes, and enjoys high transparency, and that it included applications of the reform white paper, especially with regard to diversifying non-oil sources, addressing waste and unnecessary expenditures, and directing expenditures correctly,” he said.

Saleh added, however, that “the 2022 budget may be more balanced, stable, and open to investments more broadly than the 2021 budget, and its coming after Covid 19 also has accounts,” noting that “it is certain that the endeavors to complete the draft budget are devoid of any political interests.” On the grounds that it tends here and there, and one of its principles is social justice and the fair distribution of income as much as possible.

He stressed that “it was prepared without any political pressure, because the government is essentially independent by nature, and outside of political pressure, and I am confident that it was prepared with high professionalism outside of any political biases, and that the days will prove that,” noting that “the share of the Kurdistan Region when assessed, It will be taken with high justice, realism, and harmony consistent with the national unity of Iraq.”

And Finance Minister Ali Allawi had announced on August 26, today, Thursday, the completion of the preparation of the 2022 budget, and that it will be presented within 3 weeks in the Council of Ministers,” noting that “the price of a barrel of oil in the 2022 budget will be $50.”

It is noteworthy that the government specified in this budget In 2021, the price of a barrel of oil is based on $ 42 per barrel and an export rate of 3.25 million barrels per day, but Parliament calculated it at a price of up to $ 45, using the Iraqi currency in evaluating the price of a barrel instead of the dollar, which ended a major political debate about restoring government support to the value of the dinar. Iraq against the dollar.

With regard to the Kurdistan region, the budget obligated the region to pay at least 250 thousand barrels per day from the production of oil fields in the Kurdistan region to the Iraqi government for export, in return for paying the salaries of employees working in the Kurdistan region, and settling the related dues between the two sides, after being audited by the Financial Supervision Bureau.   link

An Iraqi ministerial meeting discusses plans to export oil and maximize its revenues

The National Oil Company held its first meeting today, Thursday, to discuss the five-year plan for the exploration sector, oil export plans and maximizing revenues.

The ministry said in a statement, “The National Oil Company held its first meeting to discuss and discuss topics on the meeting’s agenda, and the five-year plan for the oil exploration sector was discussed and reviewed, which aims to sustain and enhance national production of oil and gas.”

According to the statement, the interim and future production and export plans were also discussed in this meeting, according to a strategic vision commensurate with the needs of the interim oil market and future expectations, in coordination with the Iraqi Oil Marketing Company “SOMO”, in a manner that guarantees the highest economic return for Iraq.

The statement added that the meeting was held in the presence of Oil Minister Ihsan Abdul-Jabbar, along with a number of officials, directors of companies and relevant departments, as well as officials of the Oil Marketing Company “SOMO”    link

Source: Dinar Recaps


KaseyKp1:
The IMF stated in one of their reports a long time ago that the dinar would be a managed float; they just recently restated this.

Southern Guy:
9-9-2021 Intel Guru Frank26 Firefly Boots-on-the-ground TV report: FIREFLY: Finance Minister is on the news again and he’s saying that the White Papers are here to fundamentally change the Iraqi economy and also said Iraq needs to float the dinar internationally on a global market and gain the true value of the dinar.

CharlieOK:
It looks like Washington is not going to use the foreign currency they own to pay for infrastructure, etc. https://www.cnbc.com/2021/08/25/house-vote-on-3point5-trillion-budget-raises-odds-of-higher-taxes-on-rich.html

Yada:
Wow people. Just because we heard the bankers were not taking any vacation for the next 2 weeks didn’t mean we are waiting till then for the RV. I expect the release starts now and all the exchanges will be over by then…….o many piece of the process that WE see indicating they either moved already or moving now. The ambassadors setting up offices last weekend,,,yep, the open for business sign is visible.

Sooneriam:
Hold On Tight. This RV ride is not over yet… Please keep all hands and feet inside the vehicle and remain in upright position with bank clothes ready!! (smile)

Source: Dinar Recaps

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