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Dear eUNL citizens and other interested,

Below is the Financial Report from January 10, 15h00 eRep time to January 17, 14h00 eRep time; my second report in the January mandate.

As highlights, I can announce the successful sale of a Defense System that we had in stock (for a deal worth around 250 GOLD) and an active attempt of the Ministry of Finance to get the NLG rate up to 0.016 G.

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 12: 5 GOLD from Kixtart to DNB. (Reason: 5 GOLD for referral reaching level 6.)
January 12: 5 GOLD from Kixtart to DNB. (Reason: 5 GOLD for referral reaching level 6.)
January 13: 10000 NLG from Ministerie van Economische Zak to SOartem. (Reason: Funds required for operational upkeep and training of army.)
January 13: 10 GOLD from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Requested to buy Raws.)
January 14: 5 GOLD from Kixtart to DNB. (Reason: 5 GOLD for referral reaching level 6.)
January 14: 5 GOLD from Kixtart to DNB. (Reason: 5 GOLD for referral reaching level 6.)
January 14: 10000 NLG from Ministerie van Economische Zak to State Companies 2. (Reason: Funds required for operational upkeep of state companies.)
January 15: 5 GOLD from Kixtart to DNB. (Reason: 5 GOLD for referral reaching level 6.)
January 16: 5 GOLD from Kixtart to DNB. (Reason: 5 GOLD for referral reaching level 6.)
January 16: 18 GOLD from Ministerie van Defensie to Ministerie van Economische Zak. (Reason: Ministry of Defence collected 100 G to sign a MPP with Turkey. As 18 GOLD was in the state account already, the amount was filled to 100 G, and the 18 GOLD left donated directly to EZ.)
January 16: 82 NLG from Ministerie van Defensie to Ministerie van Economische Zak. (Reason: Ministry of Defence collected 100 G to sign a MPP with Turkey. As 18 GOLD was in the state account already, the amount was filled to 100 G, putting 82 GOLD into the state accounts.)
January 16: 27 GOLD from Ministerie van Economische Zak to Ministerie van Defensie. (Reason: Ministry of Defence has asked UNL citizens to donate money to obtain a MPP with Turkey. In a short time the GOLD was donated (thank you, UNL citizens!). Unfortunately, Turkey was hacked in the meantime, and only had 50 GOLD remaining. To provide the UNL citizens what they paid for, and to help our our valued ally Turkey, Defence and Finance decided to donate the other 50 GOLD to Turkey. 23 GOLD was still in Defence and paid by them, while Finance donated the other 27 GOLD to Defence. Turkey has sincerely thanked us (you!) for the help, which they will not forget.)
January 16: 40 GOLD from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Requested to buy Raws.)
January 16: 200 GOLD from State Companies 2 to Ministerie van Economische Zak. (Reason: GOLD received as part of the selling deal of the Defence System to China.)
January 16: 2500 CNY from State Companies 2 to Ministerie van Economische Zak. (Reason: CNY received as part of the selling deal of the Defence System to China.)
January 17: 2500 CNY from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: CNY received for selling Defence System. Donated to Ministry of Raws, as they buy quite some raws in China.)
January 17: 30 GOLD from Ministerie van Economische Zak to Ministerie van Grondstoffen. (Reason: Requested to buy Raws.)

Note that the higher amount of GOLD needed by the Ministry of Raws was mainly to fully start up UNL Hospitals and UNL Forts (Defense Systems) again. The government has decided, with close cooperation between State Companies and Finance, that due to the many wars raging on it will be good to produce hospitals and defense systems again, as demand will rise and these products are a solid source of income to the UNL. Also, worldwide prices of Raws went up a bit. (With thanks to Garmr for the good explanation.)

News: Looking into possibilities for Budget Control
In line with the report last month, I will give an estimate of this week's income. Looking at the income of the State Accounts, we gained a total of 9,500 NLG and 18 GOLD. Per day, this is around 1350 NLG and 2.5 GOLD. Any special donations – this week for example 30 GOLD by Kixtart for referrals and any income from the selling of the Defence System – cannot be considered structurally, but ofcourse the UNL is partly dependent on them. However, to start calculating budgets, the best guess currently is to work with 40,000 NLG and 75 GOLD per month. These numbers will be continuously updated. Note that this is the tax income of the original NL regions, and a higher amount is expected when we regain control of Flanders, Brussels and Wallonia.

News: Financial laws & proposals
January 10 – Proposal to donate 10,000 NLG from the state accounts to the Ministerie van Economische Zak. Accepted with 34 YES. No congressmembers voted against.
January 11 – Proposal to raise taxes on Grain and Defense System. The project of raising our taxes during this difficult time, as explained in my previous article, has been finalized by raising the income taxes on Grain and DS to 14%.
January 17 – Proposal to sign a MPP with Turkey. Accepted by majority (although still pending). Total costs amounted to 150 GOLD, of which around 120 GOLD was donated by UNL citizens.

News: Monetary Market
The big line through the Monetary Market is that the government tries to keep it stable. Today, January 17, the Ministry of Finance has started up an action to buy all NLG offers at 1 NLG = 0.015 G off the market. This will lower the supply of NLG to the market, on the long term justifying the rate of 1 NLG = 0.016 G. Simultaneously, the Ministry has put up an offer of a large quantity of NLG at 1 NLG = 0.016 G to avoid the rate rising too much. If any of the NLG is sold, we have a “profit” of 0.001 G per NLG. This ensure a stable market once more, while the UNL won't lose any money. This was not done in the past, because there were too many offers at 1 NLG = 0.015 G, and because the state was low on GOLD. As the big amount was not the case this afternoon (thanks to cooperation with a UNL citizen buying half of the NLG), and because UNL sold a Defence System, we could initiate this now.

The Ministry of Finances calls to all UNL's citizens to buy any NLG off the market if offered at 0.015 G, and not to offer any NLG at a rate lower than 0.016 G.

Current rates are 1 G = 68.957 NLG and 1 NLG = 0.015 G. (Don't worry, just a few offers which I will buy off the market a few minutes after publishing this article...)

That's all for this week, thanks for reading!

Kind regards,

eUNL's Minister of Finance,
Boklevski


APPENDIX: Balances of State Account, DNB and Ministerie van Economische Zak
(the balance of last report and the difference are displayed in brackets)

State Account

Gol😛
1.92 G (11.35 G; -9.43)

Local currencies:
15065.07 NLG (15560.55 NLG; -495.4😎
1.43 BEF (1.43 BEF; no change)

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

DNB

Gol😛
467.45 G (437.45 G; +30)

Local currencies:
33409.55 NLG (33409.55 NLG; no change)
34462.47 BEF (34462.47 BEF; no change)

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
none

Ministerie van Economische Zak

Gol😛
44.07 G (1.82 G; +42.25)

Local currencies:
46327.69 NLG (72661.32 NLG; -26333.63)
3046.94 BEF (3046.94 BEF; no change)

Foreign currencies (excluded when less than 100)
none

Value of offers on goldmarket:
25000 NLG (on offer at 1 NLG = 0.016 G)