“Budget, Rate, Blockchain Tech” – Thurs. PM KTFA Thoughts, News w/ MilitiaMan 1-6-22



MilitiaMan » January 6th, 2022

The last year witnessed the approval of the budget in March, a side from the objections from political forces with respect to the exchange rate against the dollar and the most important item discussed is or was it’s value.

The old government is the one who set the budget. If the installation of the budget is according to (deletion and creation) then the idea is possible to create jobs, support the rights of the poor, etc., can be met.

Deletion of the zeros will allow for the creation of jobs and support the rights of the poor by adding value. The most important thing. imo

The exchange rate will need to be restored prior to the 2022, as the value was already set by the old government imo.

Therefore, once the exchange rate change is done then the use of that money for to bring jobs from the result of that may need to be voted on post the re-instatement to a previous era. imo. ~ MM

Samson » January 6th, 2022

Mazhar Saleh: The budget law is the first project to be presented to the House of Representatives

6th January, 2022

The economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, Thursday, January 6, 2022, that the first draft law that will be presented to the House of Representatives after the completion of its relevant committees, especially the Finance Committee, is the draft budget law in order to legislate it for its importance in the sustainability of economic and social activity. in our country.

Earlier, Saleh confirmed that the government was close to completing the 2022 budget bill, before the previous parliament was dissolved and the government turned into a caretaker in early October.

And last year witnessed the approval of the budget in March, after great controversy and controversy over its provisions, especially with regard to the share of the Kurdistan region, in addition to the objections of the political forces to changing the exchange rate of the dinar against the dollar in it, and the most important thing is its value and the value of the deficit in it. Significantly reduced than what was sent from the Cabinet.

And Prime Minister Mustafa Al-Kazemi had promised, during his assumption of office in May 2020, to present an emergency budget to run the country’s affairs, but this matter was not implemented, and after that the country entered a major financial crisis that forced the government to borrow internally twice, the first in June and the second in October October 2020, to fill the deficit in the salaries of employees and retirees.

Saleh added that the 2022 budget is not austerity, but is subject to the principle of financial consolidation or discipline as much as possible, in order to avoid borrowing except for extreme necessities. Saleh concluded by saying that the next general budget will not be without job grades, especially qualitative, rare and important competencies in the conduct of the work of state agencies.


MilitiaMan » January 6th, 2022



As part of its strategy for the period (2020-2025)

Today, Wednesday, January 5, 2022, the Arab Monetary Fund issued the twenty-fifth issue of a series of introductory booklets, which dealt with the topic of “Distributed Ledgers and Blockchain”. 

It is worth noting that the issuance of these booklets comes within the framework of the Arab Monetary Fund’s strategy for the period (2020-2025), which includes issuing introductory booklets aimed at increasing economic and financial awareness among Arab youth to enable them to understand the basics of a number of priority economic and financial issues and topics for Arab countries, such as Modern financial technologies, artificial intelligence, digital currencies, and other contemporary economic and financial issues.

Through these booklets, the Fund hopes to contribute to enhancing Arab youth’s knowledge of economic and financial issues and developments around them, which would help achieve visions for future Arab countries.

The issuance of the brochure on “Distributed Records and Blockchain” came within the framework of the Fund’s promotion of the culture of dealing with modern financial technologies and its development, to keep pace with the digital transformation witnessed by the contemporary world in the fields of information and communication technologies, by shedding light on modern technologies that play an effective role and have a direct impact on Modern financial services and their applications in the financial sector.

In this context, the booklet sheds light on the concept of distributed ledgers and blockchain, their types, components, the difference between them, and their applications in the financial sector. The handbook also addresses the technical and legal challenges facing the implementation of distributed ledgers and blockchain.

It is worth noting that the technologies of distributed ledgers and block chains provide great opportunities that enable a qualitative development in financial and non-financial services, and many services based on the “internet of things”, which eliminate the need for the presence of intermediaries, making them suitable for recording and codifying financial transactions and transactions Payment and other various operations in records. These technologies allow the creation and registration of any type of data in the registry in a decentralized manner. It also allows records management through identity verification, transaction processing, and proving the source of the data used .

The brochure highlights the growing interest in these technologies on a global level, as a solution to many transactions that constitute an obstacle to their completion.  LINK  

Source: Dinar Recaps


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