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Dear eUNL citizens and other interested,

Please find the eUNL Financial Report from October 19, 3h00 (last report) to today October 26, 03h00. This is the last report in the October mandate. If someone else is elected as Minister of Finance in the next government, I hope he/she will try to keep or even enhance the transparency that has been put in place. As I will be on holiday, the last few days will be taken over by the Ministry of Finance back-up, Cocoamok.

Most notable are the facts that we had to donate quite some money for defence and ATO purposes with relation to the Belgium RW, initiated by Romania, and that we almost completed moving the foreign currencies.

Please note that all information given, with the possible exception of explanations, is public and can be viewed by all eRepublik users.

Balances of State Account, DNB and Ministerie van Economische Zak
See “Appendix” at the bottom of message.

Justification of movements made/received by the Ministry of Finance
October 20: 21 G moved from Ministerie van Economische Zak to Ministerie van Defensie. (Reason: An additional 21 G was needed to pay for the next rounds of training wars; the other 69 G was present in the Ministry of Defense.)
October 21: 10 G moved from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Ministry of Raws was low on gold. Enough gold is needed – amongst other things – to keep the State Companies supplied with raws.)
October 23: 20,000 NLG moved from Ministerie van Economische Zak to to Ministerie van Defensie. (Reason: Due to a resistance war, an emergency funds was transferred, only to be used if necessary. As the funds was needed in the war, it was indeed used.)
October 24: After Congress approval, 20.000 BEF was donated to SOartem; and 18 GOLD and 140,16 BEF was moved to SOartem from the Ministerie van Economische Zak (Reason: Enable jobs for the congressmembers and voters who moved to Belgium to counter the TO.) All items moving in and out the DNB, were weapons, donated by our allies and SOartem, and donated to our tanks (players that are good fighters). Currently, we have a lot of weapons stored in the DNB due to the slot limitation in the defence orgs. Therefore, you might see movements of these weapons out of DNB in the future.

Justification of other actions performed by Ministry of Finance
October 23: After a request by an investor, the amount of GOLD on the market was raised from 10 G to 100 G, with the by government determined price of 1 G = 66.5 NLG. (Reason: Requested by investor, who wanted to buy more gold than available on the market.)
October 14 – ongoing: As suggested by Luuklag after the last Finance report, it was agreed by Government and Congress to move all foreign currencies from the State Accounts to the Ministry of Raws, to keep it safe from potential attacks. Thanks to all congressmembers who where willing to raise a proposal, we have now put all significant amounts to the Ministry of Raws. If anybody like to continue with amounts still left, feel free to do so. Detailed explanation and current status can be found on http://www.enetherlands.nl/viewtopic.php?f=27&t=3111&start=0.

News: Financial laws & proposals
October 19 [Accepted] Moving BEF to DNB: 781 BEF from State Account to DNB. Accepted with 27 YES and 2 NO. See “Justification of other actions” for explanation.
October 20 [Accepted] Moving foreign currencies to Ministry of Raws: 153 RUB from State Account to Ministerie van Grondstoffen. Accepted with 28 YES and 2 NO. See “Justification of other actions” for explanation.
October 21 [Accepted] Moving foreign currencies to Ministry of Raws: 221 IDR from State Account to Ministerie van Grondstoffen. Accepted with 28 YES and 0 NO. See “Justification of other actions” for explanation.
October 22 [Accepted] Moving foreign currencies to Ministry of Raws: 164 HUF from State Account to Ministerie van Grondstoffen. Accepted with 29 YES and 1 NO. See “Justification of other actions” for explanation.
October 23 [Accepted] A proposal to lower the minimum wages from 5 NLG to 4 NLG was discussed and voted on the forum, and then put up for vote ingame. The reason that was raised, was to counter the economical harsh times companies currently are in. The proposal was accepted with 15 YES and 12 NO.
October 25 [Accepted] Moving foreign currencies to Ministry of Raws: 62 UAH from State Account to Ministerie van Grondstoffen. Accepted with 32 YES and 1 NO. See “Justification of other actions” for explanation.
October 26 [Pending] Moving foreign currencies to Ministry of Raws: 79 USD from State Account to Ministerie van Grondstoffen. Currently 8 YES and 0 NO. See “Justification of other actions” for explanation.

News: Monetary Market
Contacts with more foreign investors have been established. There are now multiple offers of large amounts of NLG on the market at a rate of 1 NLG = 0.016 G. The Ministry of Finance acknowledges the inconvenience that this might bring for others who want to sell their NLG. However, I’m glad to see that the investors were willing to work together and that the exchange rates as set by the government were kept in place.

Exchange rates are currently 1 NLG = 0.016 G and 1 G = 65 NLG

If you have any questions or comments, feel free to comment on this article or on the forum: http://www.enetherlands.nl/viewforum.php?f=101

Kind regards,

Your Minister of Finance,
Boklevski


APPENDIX: Balances of State Account, DNB and Ministerie van Economische Zak
(I’m really sorry I do not have time anymore to calculate differences! I’m afraid my plane won’t wait for me…)

State Account

Gol😛
2.25 G

Local currencies:
14,189.21 NLG
0.48 BEF

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

DNB

Gol😛
944.45 G

Local currencies:
20,909.55 NLG
34,462.47 BEF

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

Ministerie van Economische Zak

Gol😛
247.88 G note: big amount on monetary market)

Local currencies:
79,675.06 NLG
0.00 BEF

Foreign currencies (excluded when less than 100)
108.00 BGN
100.00 MDL

Value of offers on goldmarket:
14,604 NLG (on offer at 1 NLG = 0.016 G)
82.83 G (on offer at 1 G = 66.5 NLG)