These are some of the articles I discussed on the blog at https://anchor.fm/dashboard/episode/epovpu
Experts: Changing the exchange rate means re-preparing the budget completely
In conjunction with the demands of some parliamentarians to raise the price of zero dinars against the dollar, economists stressed the difficulty of moving forward with this step, as it would mean a complete re-preparation of the budget.
Economists added that again manipulating the exchange rate of the Iraqi dinar will affect public revenues as well as exacerbate the deficit, stressing that changing the exchange rate will also lead to confusion in local markets and the benefit of corrupt people and influential banks.
In turn, legal experts confirmed that the House of Representatives does not have the authority to change the exchange rate, since Article 62 of the Constitution limited the powers of Parliament to conduct transfers between chapters and chapters of the general budget and reduce the total of its sums. He may, when necessary, suggest to the Council of Ministers to increase the total amount of expenditures.
Observers stressed that some parliamentarians are trying to deflect to the people through "the lie of raising the exchange rate of the dinar" after the price of most basic commodities rose.
A parliamentarian reveals the date of the vote on the 2021 budget
The deputy from the Sadikoun parliamentary bloc, Fadel Al-Fatlawi, revealed today, Saturday, the date of the Iraqi parliament's vote on the 2021 budget bill.
Al-Fatlawi told "Eye of Iraq News", "The House of Representatives completed the budget bill for the year 2021, by more than 95%, and the dialogues are continuous and continuous without any pause for late hours to resolve the remaining paragraphs and items."
And that "there is a quasi-parliamentary agreement and unanimity to pass the House of Representatives budget for the year 2021, during the current week, and this matter will be decided definitively during the meetings currently held between all political forces with the Presidency of Parliament."
Parliamentary Finance adds a text to the budget: the establishment of the petrodollar fund
Today, Saturday,
the Information Department of the Council of Representatives announced that a new text will be added to the draft budget for 2021. The Information Department of the Council of Representatives stated in a statement it received, (Iraqi Media News Agency / INA) that “The Finance Committee added a text in the draft federal budget bill for 2021.” .
She added, "The text includes the establishment of a special petro-dollar fund for oil and gas producing provinces to implement projects and provide services.
Tomorrow ... a new Kurdish delegation will visit Baghdad in a last attempt before the budget is passed
MP for the Patriotic Union of Kurdistan, Taha Amin, confirmed on Saturday that the Kurdistan Regional Government delegation will return to the capital, Baghdad, tomorrow, Sunday.
Amin said in a statement to "Al-Maalouma", that “a Kurdish delegation headed by the Vice President of the Kurdistan Regional Government, Qubad Talabani, and the membership of both Finance Ministers, Awat Sheikh Janab, and planning, Dar Rashid and the region, Khaled Shawani, and other officials will visit Baghdad tomorrow, Sunday, in a final round before presenting the budget to Voting in Parliament ”.
He added that "the visit aims to stabilize the region's share in the budget and to agree on mechanisms to deliver the agreed quantity of oil, which is 250 thousand barrels of oil, and will it be delivered in cash or a quantity to SOMO."
Amin pointed out that "we hope that there will be a response to the last visit, because the one who is most affected by the failure to reach an agreement will be the Kurdish people."
The Association of Banks identifies three reasons behind the increase in bank accounts
The Iraqi Private Banks Association revealed, on Saturday, that the number of bank accounts in Iraqi banks amounted to more than 4.8 million accounts, that the number of activated bank cards is more than 11.2 million cards, the reason being attributed to the employee salaries resettlement program and the increase in the interest rate for fixed deposits .
The executive director of the Iraqi Private Banks Association, Ali Tariq, said in a statement that Mawazine News received a copy of, that "bank accounts amount to more than 4.8 million bank accounts registered in banks operating inside Iraq."
He added that "this percentage is very good, and it is witnessing a great annual growth of more than 44%," explaining the reason for the "nationalization program for state employees' salaries and the opening of new companies in addition to the need for citizens to save in banks because of the high interest rate for fixed deposits and purchases from the Internet and others." "
Tariq added that "the number of currently activated bank cards is more than 11.2 million cards, while the number of ATMs has reached 1170 devices." Nationwide in the coming years. "
He pointed out that "the activated electronic wallets amount to more than 3.5 million wallets, and the points of cash payment amount to about 13 thousand devices spread throughout Iraq."
The Executive Director of the Banks Association confirmed that "the strategy of the Central Bank of Iraq to enhance financial inclusion contributed to increasing bank accounts, bank cards and electronic payment devices, in addition to that it was able to diversify banking services to all citizens in Baghdad and the provinces," indicating that the Central Bank works with the IMF The World Bank, the Arab Monetary Fund, the World Bank, the Association of Private Banks and other financial institutions to promote the concept of financial inclusion inside Iraq.
The US Treasury Secretary requests the launch of the $ 1.9 trillion stimulus package
link this is out of Iraq's news
Days after she assumed the position of US Treasury Secretary, Janet Willett called for action "now" and launching the $ 1.9 trillion stimulus package.
The US Treasury Secretary stressed the importance of "now" and adopting the stimulus package of $ 1.9 trillion presented by President Joe Biden, whose long-term benefits will be "far higher than the costs."
"We must act now" to adopt the economic stimulus package, Yellen said in statements to reporters at the White House after her meeting with US President Joe Biden, considering that "the benefits of a strong and immediate move will be much greater than the costs in the long run."
At a time when many Republicans oppose such a package, Yellen stressed that "the cost of inaction will be much higher than the cost of taking action."
"Economists agree that without new help, many will lose their small businesses, their homes, and their ability to feed their families," said the US Treasury Secretary. We must help them before the virus is brought under control. ”
The new US administration hopes that it will succeed in convincing members of Congress to quickly adopt this emergency plan, which includes new checks for families and an extension of unemployment benefits, as well as funds to help cities and states reopen schools and speed up medical examinations and vaccinations.
The US economy lost jobs for the first time in eight months last December as the COVID-19 attack ravaged the country, indicating a significant loss of momentum that may temporarily halt the recovery from the pandemic.
The US Labor Department said on Friday that the number of jobs in non-farm sectors in the United States fell by 140,000 last month.
Data for November was revised upwards to show an addition of 336,000 jobs instead of the previous estimates of 245,000. This is the first job drop since April 2020.
The economy compensated for just over half of the job losses in March and April, after the unemployment rate in the United States of America reached more than 22.2 million jobs.
The unemployment rate was 6.7% in December.
US consumer spending fell for the second month in a row in December amid renewed business closures to slow the spread of COVID-19 and the temporary end of government subsidies for millions of unemployed Americans.
The report released on Friday by the US Commerce Department also showed that inflation continued to rise in the past month. Expectations that inflation will increase this year were supported by other data that showed a significant increase in labor costs in the fourth quarter of the year.
Consumer spending, which accounts for more than two-thirds of US economic activity, fell 0.2% in the past month as restaurant expenses fell.
Hospital spending has also decreased, which is likely due to patients' preference to stay home for fear of contracting the Coronavirus.
Inflation rose despite weak consumer spending. The personal consumption expenditures price index, which excludes volatile food and energy prices, rose 0.3% after stabilizing in November.
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