Member in Parliamentary Finance: Every day, a new node in the budget is expected … and the date of its approval is expectedlink A member of the Parliamentary Finance Committee expected a new date for voting on the fiscal budget bill for 2021. “Unfortunately, every day, a new node appears in the budget,” Sherwan Mirza told Al-Furat News, stressing the continuing disagreements over the bill between the political blocs. “The budget will be approved this week,” he added. Yesterday, Sunday, the House of Representatives failed again to vote on the 2021 budget despite reports of an agreement on the Kurdistan region’s share. A representative source told {Euphrates News} that “despite the agreement on the share of the Kurdistan region, which was the budget knot, the differences moved to other materials such as contracts, job grades, the dollar exchange rate, the displaced, and the reconstruction of devastated areas.” The budget is estimated at 128 trillion dinars (about 89 billion dollars), against a deficit of 29 trillion dinars.
Political blocs trying to record gains by delaying the passage of the budgetlink Legal expert Tariq Harb confirmed on Monday that the vote on the financial budget bill has passed its deadline, pointing out that some political blocs are trying to achieve gains with the near elections. The House of Representatives had postponed Sunday, its special session to vote on the draft federal budget to further notice, continuing discussions between the political blocs and the Parliamentary Finance Committee to resolve the passage of the law. Legal expert Tareq Harb said in a special statement to PUKmedia : The budget bill for 2021 should have been in effect on 1/1/2021, explaining that great damage is caused to the economy to delay voting on the budget. He added: The political blocs are not disciplined as before and are trying to gain gains with the near elections, noting that the Kurdistan Region agreed to Article 11 and postponing the vote is not due to the contentious article with the Kurds. Launching a new service within "Zain Cash": an invitation to friends to register a permanent walletlink 
Zain Cash has launched a new service within the electronic wallet service, which is the service of inviting friends to register a permanent electronic wallet. The Iraq Wallet Company, Zain Cash, said in a statement that Yes Iraq received a copy, that it is “within the framework of the“ Zain Cash ”strategy aimed at enhancing electronic financial services and as a continuation of its pioneering approach in the financial sector and providing distinctive services to its customers, and in order to achieve its goal of expanding the provision of its financial services. Zain Cash launched a service to invite friends to register a permanent electronic wallet. She added that “Iraq Wallet Company“ Zain Cash ”launched its electronic wallet for the first time in 2014 through the mobile phone with the aim of developing electronic payment solutions using mobile phones and the Internet. One of its main services is the MasterCard Worldwide wallet card, which operates in two currencies, a dinar and a dollar, which provides the possibility of shopping From millions of international stores, withdraw money from ATMs inside and outside Iraq, with the ability to buy online and pay with a "Zain Cash" wallet from dozens of registered stores who provide multiple services and products. Zain Cash also provides money transfer services, recharging the phone balance, obtaining a 15% discount from the Careem service, purchasing electronic cards and paying via the QR code, in addition to the ability to pay government bills through the “Zain Cash” application with ease. And she continued, "As a competitive and incentive advantage for users to invite their friends to register the permanent wallet, Zain Cash will deposit a percentage of the financial transactions that the friends make during the first month of registering their permanent wallet." The CEO of "Zain Cash" Yazan Al-Tamimi, commenting on the launch of the "Friends Call" service, said, "Zain Cash aspires to contribute to the transition to the digital economy in Iraq and to open new horizons by providing safe services at reasonable prices and offers to its customers and providing various electronic payment methods that facilitate the customers." Take advantage of these services and exclusive offers in the easiest, fastest and most secure way in all Iraqi provinces Visa Becomes First Major Payments Network to Settle Transactions in USD Coin (USDC)
Al-Hamdi: High oil prices should be used in the budget properly link On Monday, a member of the House of Representatives, Mithaq Al-Hamdi, stressed the need to invest the high global oil prices in the budget by changing the price set in it to the price at which Iraq would sell, pointing out that many projects stopped approving the budget in order to continue its work.
Al-Hamidi said in a press interview, that "oil prices rose by a large difference from the price specified in the budget, which returned to the government with large sums, which had to reduce the dollar exchange rate."
She added that "most ministries are waiting to vote on the budget, in addition to the presence of many projects stalled on this matter," noting that "passing the budget will open the door to the continuation of the wheel of work on projects and move the ministries towards completing their stalled line."
She indicated that "the exchange rate must be close to the real price at which oil is sold, especially since the budget relies on oil as a main source of funding for it
Deputy, it is likely that the exchange rate will rise to 1600 dinars due to an expected actionlink The deputy of the Al-Fateh Alliance, Hamid Al-Mousawi, warned of a major and expected setback that the Iraqi market may suffer in the coming days, while he expected the exchange rate of the dollar in the market to become 600 dinars against the dollar in the coming period. "The continued adoption of the price of 1450 to exchange the dollar will expose the market to a major setback, due to the loss of consumer confidence in it," Moussawi said in a televised statement followed by (the Iraqi Media News Agency), indicating that "the coming days will witness a rise in the exchange rate of the dollar to 1600 dinars against the dollar." In the event of necessity to dispose of cash reserves. He added that "the Iraqi dinar will lose a lot of its value if the government insists on adopting the exchange rate set by the government in the budget law, which is 1450 dinars, and the Iraqi citizen is most affected by this matter." "The exchange rate of the dollar will be sold in the coming days at two prices, the first set by banks and the other by the market," Moussawi added. And a member of the Parliamentary Finance Committee, Muhammad al-Shabaki, confirmed yesterday (March 28, 2021) that the House of Representatives is obligated to vote on the exchange rate of the dollar approved by the government in the draft budget law for 2021.
The budget goes beyond the most difficult .. a deputy expects the date of the vote and confirms: We have reached the stage of final understandings link Today, Monday, a member of the Parliamentary Finance Committee, Muhammad al-Shabki, spoke about a breakthrough in the file of passing the country's fiscal budget for 2021, and while noting that the political blocs had reached the final stages of understandings, he .expected a date to vote on approving the budget Muhammad al-Shabaki said, in a televised interview, followed by (Baghdad Today), that "there has been an agreement on the text of Article 11 concerning the share of Kurdistan between the political forces, and it stipulates that what exceeds the export of 460 thousand barrels per day, excluding the costs of production, transportation, operation, internal consumption and the dollar percentage. " .
What increases the value of the oil produced goes to the federal government Al-Shabaki added, "It was also agreed on a method for financial settlement from 2004-2020, while the necessity for Kurdistan to pay its ".obligations on a monthly basis was confirmed, with the government handing over the rights of the region monthly
He continued, "It was agreed to hand over half of the imports of border crossings and the rest of the non-oil revenues monthly to the ".Iraqi Ministry of Finance
A member of the Parliamentary Finance Committee pointed out that "the dialogues approached the understandings and solved the problem of foreign loans after the blocks objected to the loans being followed up by the Ministry of Finance and the abolition of the ".objection to the text of the loans and obtained flexibility
Al-Shabky emphasized, "We passed the stage of agreements and consensuses to the stage of final understandings, and we have come a long way, and the budget may be ready for voting within days," adding that it is likely that the budget will be voted on "before the ".end of this week And Muhammad al-Shabaki stated, "The budget included financial allocations for all contracts and wages covered by Resolution 315, ".and the lecturers, in its final version
The House of Representatives was supposed to hold its session devoted to voting on the draft federal budget law for the current year, .on Sunday, but the persistent differences between the political blocs pushed it to postpone and leave the parliament room
A parliamentary source inside the House of Representatives stated that the Presidency of Parliament officially informed the MPs to postpone the session to vote on the budget without setting a specific date, after the failure of the dialogues and negotiations on the .disputed paragraphs, including the exchange rate
The WOTS "Word on the Street" report is below:
The dollar rose on Monday on the main stock exchange in Baghdad, while declining in Kurdistan province.According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded 144,750 Iraqi dinars for 100 Us dollars, while al-Harithiya exchange recorded 144,800 Iraqi dinars for $100.The Central Struggle Stock Exchange opened sunday morning at 144,600 Iraqi dinars.Our correspondent pointed out that the prices of buying and selling increased in the banking shops in the local markets in Baghdad where the selling price reached 145,250 Iraqi dinars, while the purchase price reached 144,250 dinars per 100 U.S. dollars.In Erbil, the capital of Kurdistan province, the dollar fell, with the selling price at 144,800 dinars per 100 dollars, and the purchase at 144,500 dinars per 100 U.S. dollars.
The Markets: The Asian markets closed in the green NIK up by .71% HSI up by .01% SHANG down by .50% The UK markets are currently trading mixed in the green from .41% to .45% in the red from .05% to .22% Our futures are currently trading in the red DOW at 32817 down by .42% SNP at 3949.50 down by .58% NDX at 12933.26 down by .26%
Precious Metals: Gold is red at 1725 Silver is red at 24.82 Copper is red at 404 Platinum is red at 1174 Brent 64 WTI 60 Bitcoin: 57,840
Favorite Currencies Forex Quotes| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|
| USD/IQD |  1432.5000 |  1483.4000 | 1457.2000 | 1456.8000 | 1456.8000 | -0.2000 | 11:12 | | USD/VND | 23070.0000 | 23075.0000 | 23064.9400 | 23060.2800 | 23060.2800 | 6.1800 | 01:22 | | USD/CNY |  6.5599 | 6.5619 | 6.5643 | 6.5404 | 6.5404 | 0.0195 | 05:24 | | USD/KWD | 0.3017 | 0.3027 | 0.3020 | 0.3018 | 0.3020 | -0.0002 | 05:11 | | GBP/USD | 1.3836 | 1.3838 | 1.3841 | 1.3756 | 1.3795 | 0.0091 | 05:24 | | USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 | | USD/IDR | 14441.0000 | 14441.0000 | 14469.0000 | 14412.0000 | 14414.0000 | 26.0000 | 05:22 |
Things in the News:
Iraqi Articles: Deputy clarifies the nature of the disputes regarding the passage of the budget in the House of Representatives link Parliament member Abbas Yaber Al-Atafi confirmed, on Monday, that there are three levels of disagreement within the House of Representatives regarding the passage of the federal budget bill for 2021, while the budget is likely to be passed at the end of this week.
Al-Atafi said in a press interview, "The prevailing disagreement about passing the budget on three levels, the first is related to the exchange of the dollar," indicating that "the second side includes new loans in the budget, and the third is to give the region a full share."
He added that "the majority of the House of Representatives is not with the passage of the budget unless the exchange rate of the dollar is returned as it was previously, in addition to the delivery of all oil and non-oil revenues to the central government of Baghdad, as well as preventing the government from any new borrowing in the 2021 budget."
Al-Atafi pointed out that "passing the budget is very difficult unless the aforementioned points are amended Al-Hamdi: High oil prices should be used in the budget properly link On Monday, a member of the House of Representatives, Mithaq Al-Hamdi, stressed the need to invest the high global oil prices in the budget by changing the price set in it to the price at which Iraq would sell, pointing out that many projects stopped approving the budget in order to continue its work.
Al-Hamidi said in a press interview, that "oil prices rose by a large difference from the price specified in the budget, which returned to the government with large sums, which had to reduce the dollar exchange rate."
She added that "most ministries are waiting to vote on the budget, in addition to the presence of many projects stalled on this matter," noting that "passing the budget will open the door to the continuation of the wheel of work on projects and move the ministries towards completing their stalled line."
She indicated that "the exchange rate must be close to the real price at which oil is sold, especially since the budget relies on oil as a main source of funding for it
The collapse of a government building inside the Green Zone in central Baghdad link On Monday (March 29, 2021), a security source reported that a government building had collapsed inside the Green Zone in the center of the capital, Baghd . The source said that the engineering affairs building belonging to the General Secretariat of the Council of Ministers inside the Al-Khadra area in central Baghdad was subjected to collapse today . The source explained that "search and rescue teams went to the scene of the accident," noting that "the building is under construction.
Governmental Adviser: Delayed approval of the budget will create a great void in economic life
life Mazhar Muhammad Salih, the financial advisor to the Prime Minister, said that the delay in approving the budget will create a great vacuum that affects the stability of economic life in Iraq.
Saleh explained that the seriousness of delayed approval of the budget will affect the implementation of development projects in the investment budget, indicating that government spending represents fifty percent of the domestic product, but its effects extend to eighty-five percent of economic activity, while noting the importance of legislating permanent financial laws such as the financial relationship law between The center, the Kurdistan region, and the state’s fiscal revenues law in order to reduce the disputes that hinder the approval of the budget every year.
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.
Click on the link above for the latest update.
The CBI for rate is 1460
The currency auction For March 29th , 2021 total sales amount $35,234,000 .
ISX Update: www.isx-iq.net/ Shares Traded: not updated for today Value Traded: not updated for today
3-29-2021 Intel Guru Footforward [...do you mind sharing again what rate range you’d expect dong to revalue at, in your opinion?...] 15 cents I think is very reasonable. In my opinion. 25 cents would be on the high end in my opinion.
3-28-2021 Intel Guru Frank26 I'm sorry that I told you that there would be CBI satellite banks where you can take your dinars and deposit them and leave them as dinars. That is not true...there will be many American banks where you can go in to their foreign currency department and deal with the CBI. Banks in the United States of America now have a symbiotic relationship with banks in Iraq...because of the laws of the United States banks and the Untied States Treasury...you can not deposit foreign currency into an American bank account and leave it that way. It has to be changed into an American dollar...
3-28-2021 Intel Guru RayRen98 Saturday- The Kurdish delegation will arrive this evening in Baghdad , and tomorrow it will hold a meeting with the Presidency of Parliament and heads of political blocs to resolve the points of contention and reach a final agreement to vote on the budget law. The deputy from the Kurdistan Democratic Bloc, Sherwan Al-Dubaradani, stated that the atmosphere is currently positive, especially after the meeting of the Finance Committee and its hosting of the ministers, and that Sunday will be a crucial day for voting on the budget law. Committee member Naji Al-Saeedi said in a televised interview: “There is agreement to pass the budget in the Sunday session, and the Finance Committee continues to work to approve the budget,”
3-28-2021 Intel Guru Footforward [...does anyone know if they passed the budget?] So the rate isn't in the budget. Most of you are aware that I've been saying that for weeks now that it wouldn't be in the budget. Do not be discouraged and do not look to iraq! At all! They do not hold the keys to the timeline. I had stress this very specifically. I said they will not put the rate in the budget because they're not going to make it that obvious and a lot of people are going to be frustrated and are going to sell their dinar.
3-28-2021 Newshound Guru Pimpy Somebody said they're already exchanging in country 1 to 1. You believe that they're exchanging 1 to 1 in county? ...what do you suppose would happen? ...there would be black market stuff galore...people could get rich off of that real quick. Basically what you would do is if you're in country you send a bunch of money, US dollars, over to somebody out of country. Have them buy the dinars out of country - millions of them - sneak it across the border then go exchange it. Does that make sense? Do you think that's what's really going on? ...I told you whenever they make the change it's gonna change for everybody...so no, in country does not have a rate 1 to 1...
3-28-2021 Intel Guru Frank26 ...[Guru] WALKINGSTICK AND I GAVE YOU OUR OPINION TWO WEEKS AGO AND WE CALLED IT PHASE 1, 2 AND 3...CHINA....KUWAIT....AND CERTAINLY COUNTRIES LIKE IRAQ THAT ARE GOING THROUGH A MONETARY REFORM ARE GOING TO PUT OUT MISLEADING INFORMATION. ONLY THE WEAK WOULD FEED OFF OF THIS AND GET SICK...WHAT WE HAVE SHARED WILL COME ABOUT. REGARDLESS IF IT'S PRESENTED IN OUR OPINION ...BE AWARE OF LIES AND RUMORS CONCERNING IRAQ...
3-28-2021 Newshound Guru Breitling Question: [Since Iraq has devalued the dinar why would they turn around and add value to the dinar so quickly or is the process to add value still a long way off?] Nope, they can do it overnight. Once they start adding value how quickly can they get up to a buck? I don't know that process. They haven't really talked too much about it or exactly what's going to happen. They've always said they want to get to $1.17. Period. End of story.
Catnip's Corner: ************ ARTICLE 1 (from PM Kadhimi's website)
At the time this report was submitted, there are no new articles posted on PM Kadhimi's website.
************* ARTICLE 2 (from Government of Iraq twitter account)
3-28-2021 around 10 am Eastern
************* ARTICLE 3
Iraq is heading to develop a comprehensive industrial map3/27/2021 16:22 [Baghdad-Where] The Ministry of Industry and Minerals announced, on Saturday, its intention to develop a comprehensive industrial map throughout the provinces. The Director of the Industrial Development Department of the Ministry of Industry and Minerals, Aziz Nazim, said, according to the official agency, that "the ministry is in the process of developing an industrial map for Iraq, after forming a committee and obtaining the minister's approval for this," pointing out that "the stages of preparing the development plan include studying the map of the provinces, the number of inhabitants and the level of demand." On the commodities and knowledge of the industrialists ’desire to establish their projects." He pointed out that "after the rise in the price of the dollar against the dinar, there has been a trend towards establishing food factories to limit the increase in their prices," stressing that "there is a growing demand for licenses and the implementation of industrial activities, despite the Corona pandemic." He explained that "there is a tendency to establish factories for the production of detergents, sanitary materials and foodstuffs," noting that "his department granted 176 licenses under establishment during last February for various activities, most of which are food." He emphasized that the main challenges facing industrialists are the land and the environment, noting that "the process of granting a license under establishment to industrialists takes one day from the Department of Industrial Development." ************* ARTICLE 4
Parliament’s Finance announces fixing the dollar’s price in the budget: blocs claim that they will continue until dawn 2021-03-28 14:00
Shafaq News / The Parliamentary Finance Committee confirmed its intention to pass the budget law in today's session, despite political blocs arguing in an attempt to obstruct the session.
The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, told Shafaq News, "The political blocs are using the pretext not to enter the session hall to vote on the budget law."
Al-Saffar added, "The ministers of planning, finance and oil are still clarifying some paragraphs of the budget for the heads of political blocs, including foreign loans, investment projects, provincial shares, degrees of deletion and innovation."
He pointed out that "the Finance Committee has completed all the articles of the budget law, leaving nothing but a political agreement to vote on the budget in today's session."
Al-Saffar indicated that "the Finance Committee is determined to vote on the general budget law until and continued for the dawn hours," pointing out that "the dollar exchange rate is fixed by the budget law."
The Presidency of the House of Representatives had set the ninth evening on Sunday as the date for the voting session on the draft budget bill.
************* ARTICLE 5
The House of Representatives postpones the session to vote on the budget until further notice12:00 - 29/03/2021 BAGHDAD - Mawazine Newsg A parliamentary source said, on Sunday, that the voting session on the federal financial budget for 2021 has been postponed until further notice. The source said to / Mawazine News /, "The House of Representatives postponed the session to vote on the budget, which was scheduled to take place today." The source pointed out that "several disagreements, most notably the dollar exchange rate, hindered the holding of the voting session on the 2021 general budget.************* |
Member in Parliamentary Finance: Every day, a new node in the budget is expected … and the date of its approval is expected
link
A member of the Parliamentary Finance Committee expected a new date for voting on the fiscal budget bill for 2021.
“Unfortunately, every day, a new node appears in the budget,” Sherwan Mirza told Al-Furat News, stressing the continuing disagreements over the bill between the political blocs.
“The budget will be approved this week,” he added.
Yesterday, Sunday, the House of Representatives failed again to vote on the 2021 budget despite reports of an agreement on the Kurdistan region’s share.
A representative source told {Euphrates News} that “despite the agreement on the share of the Kurdistan region, which was the budget knot, the differences moved to other materials such as contracts, job grades, the dollar exchange rate, the displaced, and the reconstruction of devastated areas.”
The budget is estimated at 128 trillion dinars (about 89 billion dollars), against a deficit of 29 trillion dinars.
Political blocs trying to record gains by delaying the passage of the budget
link
Legal expert Tariq Harb confirmed on Monday that the vote on the financial budget bill has passed its deadline, pointing out that some political blocs are trying to achieve gains with the near elections.
The House of Representatives had postponed Sunday, its special session to vote on the draft federal budget to further notice, continuing discussions between the political blocs and the Parliamentary Finance Committee to resolve the passage of the law.
Legal expert Tareq Harb said in a special statement to PUKmedia : The budget bill for 2021 should have been in effect on 1/1/2021, explaining that great damage is caused to the economy to delay voting on the budget.
He added: The political blocs are not disciplined as before and are trying to gain gains with the near elections, noting that the Kurdistan Region agreed to Article 11 and postponing the vote is not due to the contentious article with the Kurds.
Launching a new service within "Zain Cash": an invitation to friends to register a permanent wallet
link
Zain Cash has launched a new service within the electronic wallet service, which is the service of inviting friends to register a permanent electronic wallet.
The Iraq Wallet Company, Zain Cash, said in a statement that Yes Iraq received a copy, that it is “within the framework of the“ Zain Cash ”strategy aimed at enhancing electronic financial services and as a continuation of its pioneering approach in the financial sector and providing distinctive services to its customers, and in order to achieve its goal of expanding the provision of its financial services. Zain Cash launched a service to invite friends to register a permanent electronic wallet.
She added that “Iraq Wallet Company“ Zain Cash ”launched its electronic wallet for the first time in 2014 through the mobile phone with the aim of developing electronic payment solutions using mobile phones and the Internet. One of its main services is the MasterCard Worldwide wallet card, which operates in two currencies, a dinar and a dollar, which provides the possibility of shopping From millions of international stores, withdraw money from ATMs inside and outside Iraq, with the ability to buy online and pay with a "Zain Cash" wallet from dozens of registered stores who provide multiple services and products. Zain Cash also provides money transfer services, recharging the phone balance, obtaining a 15% discount from the Careem service, purchasing electronic cards and paying via the QR code, in addition to the ability to pay government bills through the “Zain Cash” application with ease.
And she continued, "As a competitive and incentive advantage for users to invite their friends to register the permanent wallet, Zain Cash will deposit a percentage of the financial transactions that the friends make during the first month of registering their permanent wallet."
The CEO of "Zain Cash" Yazan Al-Tamimi, commenting on the launch of the "Friends Call" service, said, "Zain Cash aspires to contribute to the transition to the digital economy in Iraq and to open new horizons by providing safe services at reasonable prices and offers to its customers and providing various electronic payment methods that facilitate the customers." Take advantage of these services and exclusive offers in the easiest, fastest and most secure way in all Iraqi provinces
Visa Becomes First Major Payments Network to Settle Transactions in USD Coin (USDC)
Al-Hamdi: High oil prices should be used in the budget properly
link
On Monday, a member of the House of Representatives, Mithaq Al-Hamdi, stressed the need to invest the high global oil prices in the budget by changing the price set in it to the price at which Iraq would sell, pointing out that many projects stopped approving the budget in order to continue its work.
Al-Hamidi said in a press interview, that "oil prices rose by a large difference from the price specified in the budget, which returned to the government with large sums, which had to reduce the dollar exchange rate."
She added that "most ministries are waiting to vote on the budget, in addition to the presence of many projects stalled on this matter," noting that "passing the budget will open the door to the continuation of the wheel of work on projects and move the ministries towards completing their stalled line."
She indicated that "the exchange rate must be close to the real price at which oil is sold, especially since the budget relies on oil as a main source of funding for it
Deputy, it is likely that the exchange rate will rise to 1600 dinars due to an expected action
link
The deputy of the Al-Fateh Alliance, Hamid Al-Mousawi, warned of a major and expected setback that the Iraqi market may suffer in the coming days, while he expected the exchange rate of the dollar in the market to become 600 dinars against the dollar in the coming period.
"The continued adoption of the price of 1450 to exchange the dollar will expose the market to a major setback, due to the loss of consumer confidence in it," Moussawi said in a televised statement followed by (the Iraqi Media News Agency), indicating that "the coming days will witness a rise in the exchange rate of the dollar to 1600 dinars against the dollar." In the event of necessity to dispose of cash reserves.
He added that "the Iraqi dinar will lose a lot of its value if the government insists on adopting the exchange rate set by the government in the budget law, which is 1450 dinars, and the Iraqi citizen is most affected by this matter."
"The exchange rate of the dollar will be sold in the coming days at two prices, the first set by banks and the other by the market," Moussawi added.
And a member of the Parliamentary Finance Committee, Muhammad al-Shabaki, confirmed yesterday (March 28, 2021) that the House of Representatives is obligated to vote on the exchange rate of the dollar approved by the government in the draft budget law for 2021.
The budget goes beyond the most difficult .. a deputy expects the date of the vote and confirms: We have reached the stage of final understandings
link
Today, Monday, a member of the Parliamentary Finance Committee, Muhammad al-Shabki, spoke about a breakthrough in the file of passing the country's fiscal budget for 2021, and while noting that the political blocs had reached the final stages of understandings, he .expected a date to vote on approving the budget Muhammad al-Shabaki said, in a televised interview, followed by (Baghdad Today), that "there has been an agreement on the text of Article 11 concerning the share of Kurdistan between the political forces, and it stipulates that what exceeds the export of 460 thousand barrels per day, excluding the costs of production, transportation, operation, internal consumption and the dollar percentage. " .
What increases the value of the oil produced goes to the federal government Al-Shabaki added, "It was also agreed on a method for financial settlement from 2004-2020, while the necessity for Kurdistan to pay its ".obligations on a monthly basis was confirmed, with the government handing over the rights of the region monthly
He continued, "It was agreed to hand over half of the imports of border crossings and the rest of the non-oil revenues monthly to the ".Iraqi Ministry of Finance
A member of the Parliamentary Finance Committee pointed out that "the dialogues approached the understandings and solved the problem of foreign loans after the blocks objected to the loans being followed up by the Ministry of Finance and the abolition of the ".objection to the text of the loans and obtained flexibility
Al-Shabky emphasized, "We passed the stage of agreements and consensuses to the stage of final understandings, and we have come a long way, and the budget may be ready for voting within days," adding that it is likely that the budget will be voted on "before the ".end of this week
And Muhammad al-Shabaki stated, "The budget included financial allocations for all contracts and wages covered by Resolution 315, ".and the lecturers, in its final version
The House of Representatives was supposed to hold its session devoted to voting on the draft federal budget law for the current year, .on Sunday, but the persistent differences between the political blocs pushed it to postpone and leave the parliament room
A parliamentary source inside the House of Representatives stated that the Presidency of Parliament officially informed the MPs to postpone the session to vote on the budget without setting a specific date, after the failure of the dialogues and negotiations on the .disputed paragraphs, including the exchange rate
According to a reporter for The Shafq News Agency, the Central Struggle Stock Exchange in Baghdad recorded 144,750 Iraqi dinars for 100 Us dollars, while al-Harithiya exchange recorded 144,800 Iraqi dinars for $100.
The Central Struggle Stock Exchange opened sunday morning at 144,600 Iraqi dinars.
Our correspondent pointed out that the prices of buying and selling increased in the banking shops in the local markets in Baghdad where the selling price reached 145,250 Iraqi dinars, while the purchase price reached 144,250 dinars per 100 U.S. dollars.
In Erbil, the capital of Kurdistan province, the dollar fell, with the selling price at 144,800 dinars per 100 dollars, and the purchase at 144,500 dinars per 100 U.S. dollars.
Favorite Currencies Forex Quotes
Deputy clarifies the nature of the disputes regarding the passage of the budget in the House of Representatives
link
Parliament member Abbas Yaber Al-Atafi confirmed, on Monday, that there are three levels of disagreement within the House of Representatives regarding the passage of the federal budget bill for 2021, while the budget is likely to be passed at the end of this week.
Al-Atafi said in a press interview, "The prevailing disagreement about passing the budget on three levels, the first is related to the exchange of the dollar," indicating that "the second side includes new loans in the budget, and the third is to give the region a full share."
He added that "the majority of the House of Representatives is not with the passage of the budget unless the exchange rate of the dollar is returned as it was previously, in addition to the delivery of all oil and non-oil revenues to the central government of Baghdad, as well as preventing the government from any new borrowing in the 2021 budget."
Al-Atafi pointed out that "passing the budget is very difficult unless the aforementioned points are amended
Al-Hamdi: High oil prices should be used in the budget properly
link
On Monday, a member of the House of Representatives, Mithaq Al-Hamdi, stressed the need to invest the high global oil prices in the budget by changing the price set in it to the price at which Iraq would sell, pointing out that many projects stopped approving the budget in order to continue its work.
Al-Hamidi said in a press interview, that "oil prices rose by a large difference from the price specified in the budget, which returned to the government with large sums, which had to reduce the dollar exchange rate."
She added that "most ministries are waiting to vote on the budget, in addition to the presence of many projects stalled on this matter," noting that "passing the budget will open the door to the continuation of the wheel of work on projects and move the ministries towards completing their stalled line."
She indicated that "the exchange rate must be close to the real price at which oil is sold, especially since the budget relies on oil as a main source of funding for it
The collapse of a government building inside the Green Zone in central Baghdad
link
On Monday (March 29, 2021), a security source reported that a government building had collapsed inside the Green Zone in the center of the capital, Baghd .
The source said that the engineering affairs building belonging to the General Secretariat of the Council of Ministers inside the Al-Khadra area in central Baghdad was subjected to collapse today .
The source explained that "search and rescue teams went to the scene of the accident," noting that "the building is under construction.
Governmental Adviser: Delayed approval of the budget will create a great void in economic life
life
Mazhar Muhammad Salih, the financial advisor to the Prime Minister, said that the delay in approving the budget will create a great vacuum that affects the stability of economic life in Iraq.
Saleh explained that the seriousness of delayed approval of the budget will affect the implementation of development projects in the investment budget, indicating that government spending represents fifty percent of the domestic product, but its effects extend to eighty-five percent of economic activity, while noting the importance of legislating permanent financial laws such as the financial relationship law between The center, the Kurdistan region, and the state’s fiscal revenues law in order to reduce the disputes that hinder the approval of the budget every year.
CBI Update: Just a note:
here.
www.isx-iq.net/
3-28-2021 Intel Guru RayRen98 Saturday- The Kurdish delegation will arrive this evening in Baghdad , and tomorrow it will hold a meeting with the Presidency of Parliament and heads of political blocs to resolve the points of contention and reach a final agreement to vote on the budget law. The deputy from the Kurdistan Democratic Bloc, Sherwan Al-Dubaradani, stated that the atmosphere is currently positive, especially after the meeting of the Finance Committee and its hosting of the ministers, and that Sunday will be a crucial day for voting on the budget law. Committee member Naji Al-Saeedi said in a televised interview: “There is agreement to pass the budget in the Sunday session, and the Finance Committee continues to work to approve the budget,”
3-28-2021 Intel Guru Footforward [...does anyone know if they passed the budget?] So the rate isn't in the budget. Most of you are aware that I've been saying that for weeks now that it wouldn't be in the budget. Do not be discouraged and do not look to iraq! At all! They do not hold the keys to the timeline. I had stress this very specifically. I said they will not put the rate in the budget because they're not going to make it that obvious and a lot of people are going to be frustrated and are going to sell their dinar.
3-28-2021 Newshound Guru Pimpy Somebody said they're already exchanging in country 1 to 1. You believe that they're exchanging 1 to 1 in county? ...what do you suppose would happen? ...there would be black market stuff galore...people could get rich off of that real quick. Basically what you would do is if you're in country you send a bunch of money, US dollars, over to somebody out of country. Have them buy the dinars out of country - millions of them - sneak it across the border then go exchange it. Does that make sense? Do you think that's what's really going on? ...I told you whenever they make the change it's gonna change for everybody...so no, in country does not have a rate 1 to 1...
3-28-2021 Intel Guru Frank26 ...[Guru] WALKINGSTICK AND I GAVE YOU OUR OPINION TWO WEEKS AGO AND WE CALLED IT PHASE 1, 2 AND 3...CHINA....KUWAIT....AND CERTAINLY COUNTRIES LIKE IRAQ THAT ARE GOING THROUGH A MONETARY REFORM ARE GOING TO PUT OUT MISLEADING INFORMATION. ONLY THE WEAK WOULD FEED OFF OF THIS AND GET SICK...WHAT WE HAVE SHARED WILL COME ABOUT. REGARDLESS IF IT'S PRESENTED IN OUR OPINION ...BE AWARE OF LIES AND RUMORS CONCERNING IRAQ...
3-28-2021 Newshound Guru Breitling Question: [Since Iraq has devalued the dinar why would they turn around and add value to the dinar so quickly or is the process to add value still a long way off?] Nope, they can do it overnight. Once they start adding value how quickly can they get up to a buck? I don't know that process. They haven't really talked too much about it or exactly what's going to happen. They've always said they want to get to $1.17. Period. End of story.
Iraq is heading to develop a comprehensive industrial map
The House of Representatives postpones the session to vote on the budget until further notice
12:00 - 29/03/2021