Late Financial Report
Day 921, 12:38
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Published in Belgium 
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by
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by NBB-BNB
Financial Update
Hello, and welcome to my Second financial update of my term. I'm sorry for the delay, and Apo has already kicked my ass for it
😁(reasons being: my bday, illness, to much schoolwork
🙂)
Some of you might be wondering, why a financial update? What do we have to do with it? The main idea behind it is : Transparrancy. That's what this is all about. You eLive in a democracy, and the most important thing in a democracy, next to freedom of speach, is transparancy. You have to know what the government is doing with your taxes and with the money they make. This update will be published every week. If you need a quicker look, feel free to look for the MoF sheet online which is updated daily.
The 4 accounts of the state
The eBelgian state controles 4 organizations where money is stored or used, the first one is the IG state account where all the tax money goes. To use this money it first has to be transfered through a congress donation to an organization. As you can see, the last few days a lot of proposals to move money where proposed in order to get this money out of the state accounts. Those transfered where asked by me and our CP, Apotygma.
The second one is the organisation called : NBB-BNB. It stands for Nationale Bank van België - Banque Nationale de Belgique, and is our national bank. This is where most of the money owned by the Belgian state is stored for daily funding of State Companies, TW, etc...
The third on is eBE State Companies used to host our skill 0 training companies for new players. This products are not sold for profit on the national market, but only used to satisfy the needs of government organizations like Military or Home Affairs.
And last but not least, citizen.info is used for MoHA and giving out the registration bonus on the national forum, gifting hub and buying Moving tickets.
Now all these Organisations have money in them, in various currencies. Further on you can see the amount of currencies expressed in gold that each of them contains, for more detailed !!, I invite you to check the MoF sheet.
Money in the Accounts
State Account:
Total assets : 19,74356 g
Variation : -104,34706 g
State Companies:
Total Assets : 0.972 g
Variation : + 0.952
Citizen.info:
Total Assets: 207.98 BEF
Variation : - 443,05 BEF
NBB-BNB:
Total Assets: +780g
Variation: - 80g
Overall, we have around 800g in storage, of that 200g will probably be used for TW and military.
Monetary Market
The plan made by the MoF and approved by the Gov is working, the current rate of the BEF is 0.02 and has been stable sinds some time. I suggest we leave our money on the market just to be sure, unless we realy come to need the money (10000 BEF) that we are using to stabelise the MM.
Follow the latest news and spam along @ The official eBelgian Forum!
The Minister of Finances,
Theneka,
In name of the eBelgian Gouvernement
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Comments
o/
So to clarify: a week ago, President Apotygma said that the peg would be set at 0.019 GOLD/BEF. Now you have reported the peg will be held at 0.02 GOLD/BEF. Is that the peg for the forseeable future?
Vote
Great report!
@ Hireshmont Vellos, the PEG was voted to 0.02g, so Apo was making a mistake 😛
nice report,
hard to understand when you don't know alot about economy.
But enough takehome to understand what's going on (roughly).
Someone want to explain to me some of the abbreviations used ? like CP and MM ..
CP = Country President. The current country president of Belgium is Apotygma.
MM = Monetary Market. To keep their currencies stable relative to Gold, the vast majority of countries in eRep have their governments put up a massive buy order, selling X amount of their countries currency for X amount of gold. Stable currency allows salaries to remain relatively stable, and generally are needed to have a stable economy. Also the gold gained from sales on the monetary market are usually used by the government to pay for things in eRep that require gold, such as signing MPP's, declaring war, making attacks, and starting resistance wars.
I see around 200 gold deficit. And in total there is now 800 gold.
You could say for 4 weeks until we are bankrupt. But for sure some expenses made are not weekly.
I would like to see a budget though. That way we can see if our income is enough for the expenses or not on the long run.
Abraham : http://ebelgium.forumotion.net/tutorials-and-useful-links-f13/erepbulik-glossary-t767.htm">http://ebelgium.forumotion.net/tutorials[..].htm
@Niemand : normally it is. You just saw a weekly update remember that. We just resigned our MPP with Malaysia causing this huge gap, but we make far more a day than we spend. We will also have to resign another MPP as the tW between Malaysia and Philippines has stopped... Something we could barely forsee. But we are NOT bankrupt. This gap is made by a MONTHLY spending, not structural.