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Dear eUNL citizens and other interested,

As you are used from me, I herewith publish the financial report of January 10, 15h00 eRep time – the first weekly report since I'm again in office as MoF.

And a turbulent week it was: highlights are the (costly) war against Poland to help our German allies, and a tax raise to counter the financially difficult times for eUNL.

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
January 1: 100 GOLD from Bundesbank to DNB. (Reason: Donation Germany for declaring war on Poland.)
January 1: 120 GOLD from Phoenix Treasury to DNB. (Reason: Donation Phoenix Alliance for declaring war on Poland.)
January 1: 55 GOLD from Garmr to DNB. (Reason: Donation Garmr, UNL citizen, for declaring war on Poland.)
January 1: 275 GOLD from DNB to State Accounts. (Reason: Money put in State Accounts to initate vote to declare war on Poland. Out of state account when proposal was accepted.)
January 1: 5 GOLD from Kixtart to Ministerie van Economische Zak. (Reason: 5 G for referral, for example via babyboomsite.)
January 1: 5.1 GOLD from Ministerie van Economische Zak to Phoenix Treasury. (Reason: Payment per week to Phoenix Alliance.)
January 2: 50 GOLD from Hungary to eUNL state accounts. (Reason: Hungary paid half of the costs for eUNL to sign a MPP).
January 2: 110 GOLD from Phoenix Treasury to DNB. (Reason: Donation by Phoenix Treasury for battle against Poland. This was donated to state accounts with an unknown amount of “own” gold (cannot track that, unfortunately) and spent when we attacked.)
January 2: 5.23 GOLD from Ministerie van Economische Zak to Phoenix Treasury. (Reason: Special payment to Phoenix Alliance due to world turmoil.)
January 3: 10 GOLD from Ministerie van Economische Zak to OE_volksgezondheid 2. (Reason: GOLD requested to buy Raws for state companies.)
January 3: 130 GOLD from Ministerie van Economische Zak to Ministerie van Defensie. (Reason: A payment of 130 GOLD was made to Defense in case heavy tanking was required in the battle against Poland. However, the tanking was called off due to the wall being too high.)
January 3: 130 GOLD from Ministerie van Defensie to Ministerie van Economische Zak. (Reason: Payment reversed. See above.)
January 3: 10 GOLD from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Requested to buy Raws.)
January 4: 10000 NLG from Ministerie van Economische Zak to Ministerie van Defensie. (Reason: Funds to buy resources (weapons, etc.) in the war against Poland.)
January 5: 500 NLG from Ministerie van Economische Zak to Ministerie van Media & Recruitment. (Reason: NLG required to pay the forum registration bonus for new citizens.)
January 5: 20 GOLD from Ministerie van Economische Zak to OE_volksgezondheid2. (Reason: GOLD requested to buy Raws for state companies.)
January 5: 5 GOLD from ThomasRED to Ministerie van Economische Zak. (Reason: 5 G for referral via babyboom site getting to level 6.)
January 5: 10000 NLG from Ministerie van Economische Zak to Nationaal_Trainingscentrum. (Reason: NLG needed for the battles against Poland.)
January 6: 150 GOLD from DNB to Ministerie van Economische Zak. (Reason: Alliances were paid initially out of Ministerie van Economische Zak, so GOLD donated to EZ from DNB.)
January 7: 10 GOLD from Ministerie van Economische Zak to State Companies 2. (Reason: Requested to buy Raws.)
January 8: 5 GOLD from Kixtart to DNB. (Reason: 5 G for referral, for example via babyboomsite.)
January 8: 20 GOLD from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Requested to buy Raws.)
January 9: 5 GOLD from Kixtart to DNB. (Reason: Not reported, but my guess would be 5 G for referral via babyboomsite.)
January 9: 10 GOLD from Ministerie van Economische Zak to State Companies 2. (Reason: Requested to buy Raws.)
January 9: 20 GOLD from Ministerie van Economische Zak to State Companies 2. (Reason: Requested to buy Raws.)
January 9: 15 GOLD from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Requested to buy Raws.)
January 9: 15 GOLD from Ministerie van Economische Zak to OE_volksgezondheid 2. (Reason: Requested to buy Raws.)

Justification of other actions performed by Ministry of Finance
As Minister of Finance, I tried to be as active as possible on the forum, leading to – amongst others – this post: http://www.enetherlands.nl/viewtopic.php?f=27&t=4082&start=10#p45385 as thought on the spending of the government. This is something that need to be tracked and worked out further, to be able to “predict” (budget) the income and expenses for the next month. This will be quite difficult to work on as not all data can be obtained easily, but I will keep you updated.

News: Financial laws & proposals
The proposal with a financial impact can be divided in roughly three areas:

Wars & Defense
We declared war on Poland (accepted with 37 against 3) on January 1, costs 275 GOLD. Additionally, we signed two MPPs to protect us, one with Hungary (costs 50 GOLD for eUNL, rest paid by Hungary) and Serbia (costs 100 GOLD).

Tax raise
As the war and loss of all our Belgian regions cost a lot of money, Congress has decided to take temporary measures by raising the taxes. A series of proposals has been accepted to raise the Income Tax from 12% to 14% and the VAT from 1% to 5% (exceptions: houses and hospitals (VAT remained at 1😵 and grain (not changed yet, will initiate that). Acceptance of the proposals was about 30 against 5 votes on average. Congress has the strong intention to lower the taxes again after the war.

Donations
Currently, a vote is pending to move 10,000 NLG from the state accounts to Ministerie van Economische Zak. This cannot be rejected (31 votes against 0 votes), but I'll await the official reporting until the next report.

News: Monetary Market
As reported in the weekly news, I will continue to work on the monetary market by putting up gold to keep the NLG to GOLD rate within acceptable limits. The government has spend a lot of gold to protect us from attacks of Poland and Spain (obtaining MPPs), and individuals bought wellness packs in the current war to fight for our country. This, combined with the new training possibilities, create a huge demand for GOLD, which could push the rates up to new heights. The ministry will counter this and aim for a rate of preferably 1 G = 66.5 NLG, but never higher than 71.42 NLG. The preferred GOLD to NLG rate is 0.016, but 0.015 is also acceptable for the moment.

Current rates are 1 G = 67.788 NLG (but note that the next offer starts at 69.79 NLG) and 1 NLG = 0.015 G.

That finishes off my first report this mandate. If you want, please vote and subscribe. Also, make sure you are subscribed to the newspaper of the Ministry of Media & Health to stay up to date of other governmental news.

Thanks for your time.

Kind regards,

eUNL's Minister of Finance,
Boklevski


APPENDIX: Balances of State Account, DNB and Ministerie van Economische Zak
(As I do not have any historical data of last week, I cannot display the differences. They will be in the report again as of next week.)

State Account

Gol😛
11.35 G

Local currencies:
15560.55 NLG
1.43 BEF

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

DNB

Gol😛
437.45 G

Local currencies:
33409.55 NLG
34462.47 BEF

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

Ministerie van Economische Zak

Gol😛
1.82 G

Local currencies:
72661.32 NLG
3046.94 BEF

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
60 G (on offer at 1 G = 71 NLG)