The exchange rate of the dollar decreased slightly on the Al-Kifah Stock Exchange today, Monday (August 31, 2020)
Selling prices in exchange shops in the local markets in Baghdad
The sale price is 123.500 dinars per 100 dollars.
Purchase price: 122,500 dinars per $ 100
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1166.5000 |  1216.7000 | 1191.8000 | 1191.7000 | 1191.8000 | -1.1000 | 06:06 |
| USD/VND | 23174.0000 | 23175.0000 | 23157.4800 | 23136.9800 | 23136.9800 | 23.3500 | 22:58 |
| USD/CNY |  6.8224 | 6.8244 | 6.8479 | 6.8124 | 6.8473 | -0.0249 | 05:17 |
| USD/KWD | 0.3046 | 0.3057 | 0.3052 | 0.3050 | 0.3052 | -0.0002 | 04:57 |
| GBP/USD | 1.3448 | 1.3449 | 1.3448 | 1.3356 | 1.3367 | 0.0079 | 05:18 |
| USD/IRR | 42000.0000 | 42210.0000 | 43011.9000 | 43011.9000 | 43011.9000 | -43.1000 | 04:44 |
| USD/IDR | 14667.0000 | 14680.0000 | 14667.0000 | 14341.0000 | 14555.0000 | 115.0000 | 05:18 |
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Iraq is heading to approve an investment budget for three years
The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, revealed, on Tuesday, details of the 2021 budget, indicating that what is new in the general budget is the part of the investment budget, which will be over three years.
Al-Saffar said in a press interview that "Al-Iqtisad News" reviewed, that "the council will hold its sessions intensively and on a daily basis to compensate for what has been missed due to the disruption due to the circumstances of the Corona pandemic," adding that "the specialized committee in the General Budget Department at the Ministry of Finance has begun preparing the draft budget for 2021, and from It will definitely be completed by the end of this year. "
He noted the completion of the 2021 draft budget, which will be necessary to put the government's financial disposal in a legal framework.
The committee’s rapporteur continued, “What is new in the general budget is related to the investment budget, as it will be over three years and the sums will be divided over it,” adding that “no project is being completed in one year, so an investment budget will be allocated for three years divided into years, and this is what It is called annual budget performance, and it is expected that changes will occur in the budget structure and in matters related to the operational and investment side.
And that "the current year is nearing completion, and the 2020 budget project, which will be sent for approval in the House of Representatives, will be based on the operational side and not on the investment, because no budget has been issued to allocate investment funds, and there are no projects that can be implemented during the remaining four months of the year. The sums that were disbursed from 1-1 to the ninth month, and the rest of them will be speculative in terms of spending and revenues. "
And Abizaid Al-Saffar, as for the sums that will be estimated for investment according to the 2020 budget, it may be added to the investment budget for 2021.
Economic: corruption in the billions in the number of Kurdistan employees and the doors of spending their budgets
The economic expert, Ragheb Reda, confirmed, on Monday, that the Kurdistan region has tampered with the real numbers of the number of its employees and gave Baghdad figures different from the real numbers, indicating that the region’s budget is opaque and devoid of exchange doors.
"The Kurdistan region is continuously procrastinating financial issues with the central government because of financial corruption in all of their files," Rida said to "the information".
He added that "the corruption of the Kurdistan region is estimated at billions in the files related to the salaries of employees, the region’s outlets and the sections of exchange for budgets."
Parliamentary Finance reveals information about the 2021 budget
Al-Saffar said in a press statement, that "the competent committee in the General Budget Department at the Ministry of Finance has begun preparing the 2021 budget project, and it is certain to complete it by the end of this year," noting that "the completion of the 2021 budget project will be necessary to put the government's financial disposal in a legal framework."
He explained, "There is no project to be completed in one year, so an investment budget will be allocated for three years that are divided into years, and this is called annual budget performance." He expected that "changes will occur in the budget structure and matters related to the operational and investment side."
He added, "This year is nearing completion, and the 2020 draft budget that will be sent for approval in the House of Representatives will be based on the operational side and not on the investment, because no budget has been issued for the allocation of investment funds, and there are no projects that can be implemented during the remaining four months of the year. Confirming the sums that were disbursed from January 1 to September 2020, and the remainder of them will be speculative in spending and revenue, ”indicating that“ with regard to the sums that will be estimated for investment according to the 2020 budget, they may be added to the investment budget for 2021. ”
A parliamentary committee calls on Al-Kazemi to refer officials of the Investment Authority for investigation and to prevent them from traveling
On Tuesday, the Parliamentary Economic and Investment Committee called on Prime Minister Mustafa Al-Kazemi to refer officials of the Investment Authority for investigation and Moem from traveling, against the background of "waste of public money," administrative abuses and legal violations.
The committee said in a statement addressed to Al-Kazemi and the supervisory departments, Alsumaria News received a copy of it, "We call on you to stop cooperating with the Investment Authority. Patriotism In all forms, we hold you responsible and the consequences of wasting public money. We also call on the Prime Minister to refer the head of the commission, the window manager and the director of the legal department to the investigation and withdraw the hand.
"We would like to confirm to a president Council of MinistersAs already our committee that met with your state has been installed abuses by the Authority official books at the meeting was supposed to form a committee for the purpose of stop corruption and waste not to apply the provisions of the investment law, in a number of themes. " She added the Committee that" ownership allowance 2% of The value of the land according to the system enforced by the government, and it is different to the provisions of the applicable investment law, which speaks in exchange for the real value of land within the municipal and capital boundaries, and this transgression of the law is contrary to the constitution and the legal law.
She stated: "Also, the regime grants 98% of the land value to their partners in corruption and deprives the citizen and the state treasury of these funds, which in worst cases reach 10 trillion in the lands granted during this period and in pandemic conditions. CoronaAnd more than that your compliance with the state to provide services at the expense of billions of other also the subject of expansion in power stations , which reached the smell of corruption in which to neighboring countries and to implicate the country tens of billions. " The
Committee noted that" this institution has become not bear any economic feasibility , but on the contrary , has become one of the biggest doors of corruption because Msoalleha became threatening the survival of the assets of the state because of Tmadihm to insist corruption, which brought the message that they are not afraid of accountability and that they are above the law.
she added:" We offer in front of your eyes some of the administrative excesses of the law and distortion in the use of the provisions of the law in Article Of expropriation and the state’s commitment to buying electricity supply service from investors at times the value that was not stipulated by the investment law instead of allocating these funds to build government stations and unleash honorable competition between the public and private sectors in the service of the citizen.
According to the statement, the committee reviewed some of the violations of the law in the administrative procedures followed, as indicated below:
Article 20 First The Commission issues an investment license through the establishment of a single window that includes authorized representatives from the ministries and relevant authorities.
Article 20 Second / B / One window has the right to submit the recommendation to grant the license to the Chairman of the Commission or the Board of Directors, as the case.
Investment Regulation No. 2 of 2009 Article 4 First specifies the authority's jurisdictionPatriotismExclusiv
Article 5 of the system defines the tasks of the Authority’s Board of DirectorsPatriotismAmong them are, first: setting a strategic policy, secondly: determining the necessary procedures to monitor, follow up and evaluate the performance of investment projects through committees formed for this purpose, so how does the board of directors monitor projects and grant licenses that are not presented to it at all, and the window is supposed to make recommendations according to the opinion of the delegates. Sectoral entities.
Article 13 of System 2 The provisions of Article C of Article 7 of the law shall be taken into consideration in granting investment licenses for projects that require obtaining approval.Council of Ministers This indicates that projects whose value exceeds 250 million will be approved by the regional or governorate body Council of Ministers It should be noted that the investment license is granted in PatriotismWithout the consent of the delegates and without the approval of the Board of Directors.
Article 4 / g / of the law stipulates that a board of directors shall meet National Investment Commission Upon a call from its chairman, the quorum for the meeting and decision-making by an absolute majority, the workflow is organized by a bylaw issued by the authority and any decisions taken in the board of directors PatriotismIf the projects are not presented to him ?? ”
The committee concluded its statement by saying:“ From the foregoing waste of billions of dollars, state assets and administrative abuses, we ask the people from Al-Kazemi to implement the law and withdraw their hand and refer them to investigation and prevent them from traveling and investigating their property. ”
Amiri comments on Al-Kazemi's speech with a nine-point statement
The head of the Al-Fateh Alliance, Hadi Al-Amiri, commented, on Monday, on the statement of Prime Minister Mustafa Al-Kazemi, while identifying 9 points that he said are important, announcing full support for the progress in achieving the curriculum.
Al-Amiri said in a statement, "People" received a copy of it, (August 31, 2020), that "after reading the statement of the respected Prime Minister on the anniversary of the martyrdom of Hussein, peace be upon him, we found him taking into account all the points emphasized by the national forces in their last meeting with him on Wednesday. On 8/26/2020, Muharram 6, and as we affirm the implementation of these important points, we declare our full support for the progress of this curriculum and we affirm the following observations:
- We believe that the first primary task of this government is to extend security, restore the prestige of the state, and create the appropriate conditions for holding free, fair and just early elections.
- There is no room for alternating between the options of state and non-state. We are with one option, which is to build a just state that is able to extend security and secure a free and decent life for every Iraqi citizen.
- We call for the support and strengthening of the security services, as we have no choice but to restore their prestige, respect and strengthen them in order to establish security, enforce the law and the rule of justice, otherwise the data indicate going towards the unknown and the overwhelming chaos that does not remain or is not neglected, so we stress the need to impose strict penalties on everyone Insults or assaults the security services, as well as the employees of these agencies to work in accordance with the laws in force, and the competent authorities must hold accountable those who fail in the performance of their sacred national duty.
- Peaceful protest is a right guaranteed by the constitution, and it is one of the means of pressure to find reforms and change paths, but it must be in accordance with legal procedures, and in a way that reflects a sense of responsibility towards the country and its future, by maintaining peace and distinguishing between peaceful demonstrators who have legitimate demands and between those with corrupt goals and the infiltrators who Through this constitutional right they want to tamper with public security, attack public and private funds, disrupt life, prevent work, pressure state employees and prevent them from carrying out their duties, and these are undoubtedly subversives, outcasts from society and do not in any way belong to peaceful demonstrators, and the government must deal with them according to the law And strict judicial procedures, and not tolerating them, and the protection of peaceful demonstrators and public order from their mischief and criminality.
- The government should not tolerate all calls demanding to bear arms and form armed groups, and deal with them firmly in accordance with the law and judicial procedures, because it is a very dangerous gesture towards the state, and an explicit call for violence, fighting and threatening the security of society that requires legal prosecution.
- The security and judicial agencies must stand firmly and forcefully to end the series of kidnappings, assassinations, and stirring terror among the people, behind which there are unrighteous hands that want to stir up chaos, and that retribution and prosecution of perpetrators and saboteurs is the exclusive right of the judiciary, with whom we stand strongly in order to achieve this.
- We affirm the transition to the stage of actual and rapid implementation of all measures that would address the grave scourge of corruption, and we call for the need for real and serious follow-up to pursue corruption in all parts of the state, because we believe that the phenomenon of corruption is more dangerous than the phenomenon of terrorism, rather terrorism is the fruit. Malicious corruption is one of its byproducts.
- We highly appreciate the economic problem and the financial situation of the government, but there is a need for a government initiative to achieve social solidarity and alleviate the burdens of the poor classes, and we have a serious initiative that will be launched in the House of Representatives.
9-We stress once again the need to expedite setting a timetable for the withdrawal of foreign forces from Iraq at the earliest opportunity, and to achieve full national sovereignty.
CBI Update: Just a note:They have been having auctions and the ISX has been trading regularly the sites just don't update in time to put the information in this report, unless it is
here.
here.
The currency auction total sales amount $ 0. no update yet
including $ 0. no update ye
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
8-31-2020 Newshound Guru Jeff Article: "Away from the political file..a high-level Kurdish delegation in Baghdad". Quote: "...to discuss the proposal of the international Monetary Fund and the International Central Bank to change the budget system from 1-year budget to a 3-year budget." ...I've been in this 11 years that's the first time in 11 years they've ever talked about that. That pretty much has rate change written all over it...
8-31-2020 Intel Guru MarkZ [Is this the week with the never ending magic Tuesdays] Hopefully our last with all this chatter... I think we are really close…especially after hearing from all my government sources...I feel exceptionally good about September...i am expecting a shotgun start.
8-31-2020 Newshound Guru Jeff ...they're not going to stay pegged to a single currency. That's not happening...it's too risky. After the rate change the dinar will be pegged to a basket to minimize risk...
8-31-2020 Intel Guru RayRen98 Weekend UPDATE: Iraqi TV was broadcasting the following...Saturday: PM Al-Kadhimi steps confidently towards economic reform citing providing oil derivatives to support national factories. Sunday: PM Al-Kadhimi is beginning to disarm the militias by having the military to confiscate all light to medium weapons from all disputed tribal areas.
8-31-2020 Guest Guru Austin-Powers-For-PM ...I believe September will be an unbelievable month for all of us. What that looks like or how that will happen is yet to be seen...
8-31-2020 Newshound Guru Kaperoni There are still some who believe a significant overnight RV is possible. I have two articles that contradict the possibility of that ever happening...Iraq's net worth is only $16 trillion dollars...And the other clearly states 47 trillion dinarin circulation. ...They either have to LOP the dinar reducing trillions to billions or float the dinar as stated in the IMF Article IV with Iraq to gradually reduce the money supply. Btw, going from peg to a float is what most countries do, especially ones that are emerging with significant growth in their economies.
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