WOTS FRI AUG 13 21
No My FX Buddies Podcast today
Publishes the exchange rate of the dollar today against the Iraqi dinar in the local markets and Iraqi exchanges on Friday (August 13, 2021), which recorded its stability on the rise against the Iraqi dinar.
The price of the dollar today in Iraq came in the local markets and the Iraqi stock exchanges in the capital, Baghdad, Basra and Erbil as follows:
The exchange rate of the dollar against the Iraqi dinar in Iraq today, Friday, August 13, 2021
The Finance Committee of the Iraqi Parliament suggested, today, Friday, a surplus in the federal general budget for the current fiscal year 2021, due to the increase in oil export prices above the planned rate in the budget law
Committee Rapporteur Ahmed Al-Saffar said in a statement to the Iraqi News Agency (INA): “Calculating the financial deficit is annually and not monthly, but by calculating oil revenues during the first six months of this year, it is noted that the difference between the selling price of oil and the rate of the planned price in the budget law covers the deficit.” In full, if the same rate is calculated for the next six months
Al-Saffar added that "expectations indicate a rise in oil prices, and they are now on a continuous rise, and perhaps the deficit will be covered and a surplus will also be achieved as a result of the rise in oil prices and the change in the dinar exchange rate and its reduction against the dollar, which provided the government with sums that can cover the deficit and more
On the 14th of last July, the Federal Supreme Court postponed the date for appealing the Federal Budget Law for the fiscal year 2021, as a judicial source stated to the Iraqi News Agency (INA), that the Federal Supreme Court postponed the date for appealing the Federal Budget Law for the fiscal year 2021, to the twenty-fourth of this month
Al-Najjar reveals a reason that hinders investment in Iraq
The head of the Investment Authority, Suha Al-Najjar, revealed today, Thursday, a reason that hinders investment in Iraq.
Al-Najjar said in a statement to Al-Iraqiya News, "The Investment Authority is stressing today on granting the investment license, but one of the most important problems we face is the absence of the real investor."
She pointed out that "the first stages of the Rafael project do not approach the lands of citizens," noting that "the commission will grant Rafael projects to the serious investor and prefer the Iraqi investor."
And regarding the Besmaya project, she explained: "We are in a state of negotiation with the Korean company in Besmaya," stressing "the authority's desire to continue the Korean in Besmaya.
Economist: The Iraqi market has adapted to the change in the price of the dollar and a segment that has dispensed with necessary needs
The economic expert told {Euphrates News} that "the Iraqi market adapted to the dollar's exchange rates," while those with limited incomes dispensed with the basic necessities due to the impact of their living needs.
He added, "We hope to double the food basket with the ration ration to compensate for this segment, and there are families that have dispensed with a set of requirements to provide for their pension, as there are large families, which reduced the price of the dinar to reduce their monthly salary at a rate of one hundred thousand per 500."
He concluded by saying: "People with high incomes do not affect them much on their livelihood.
Dhafer Al-Ani sets the goals of the leaders’ conference in Iraq: Washington will attend the “Baghdad Summit
The Parliamentary Foreign Affairs and Relations Committee confirmed, on Friday, that France and the United States will participate in the Iraqi Neighborhood Conference to be held at the end of this month, while identifying a set of issues to focus on in the conference.
Committee member MP Dhafer Al-Ani told the official agency, followed by "Nas" (August 13, 2021), that "the countries invited to the conference to be held in Baghdad are concerned with the security and stability of Iraq," noting that "most of the internal problems stem from regional conflicts and interference in the Iraqi affairs."
He added that "the conference should come out with a practical result to banish foreign interference and not raise thorny files related to inter-state differences," stressing the need for "the conference to seek how to restore Iraq's security, health and role in the region."
Al-Ani stressed that "the independence of the Iraqi political decision is important not only for Iraq, but for all countries in the region," pointing out "the importance of the conference focusing on the Iraq file exclusively and keeping regional and international differences away from the Iraqi arena."
He continued, "Iraq should not be a source of threat to neighboring countries, and should not be a gateway to external and internal interference," calling on the government to "prevent the phenomenon of uncontrolled weapons that are used repeatedly against neighboring countries."
He pointed out that "the participation of the French president in the conference is encouraging, and the available information indicates that the United States will also participate in the conference," explaining that "these two countries have a major role in the region, and their presence is a calming factor."
Parliamentary Finance hints at a surplus in the 2021 budget
link okay we've seen this before but the bolded part is a little different
Mawrid News, the Finance Committee in the House of Representatives suggested, on Friday, achieving a surplus in the federal general budget for the current fiscal year 2021, due to the increase in oil export prices above the planned rate in the budget law.
Committee Rapporteur Ahmed Al-Saffar said in a press statement, “Calculating the financial deficit is annually and not monthly, but by calculating oil revenues during the first six months of this year, it is noted that the difference between the selling price of oil and the rate of the planned price in the budget law covers the entire deficit, if the Calculate the same rate for the next six months.
Al-Saffar added that "expectations indicate a rise in oil prices, and they are now constantly rising, and perhaps the deficit will be covered and a surplus will also be achieved as a result of the rise in oil prices and the change in the exchange rate of the dinar and its reduction against the dollar, which provided the government with sums that can cover the deficit and more."
On the 14th of last July, the Federal Supreme Court postponed the date for appealing the Federal Budget Law for the fiscal year 2021, as a judicial source stated to the Iraqi News Agency (INA), that the Federal Supreme Court postponed the date for appealing the Federal Budget Law for the fiscal year 2021, to the twenty-fourth of this month.
An American bank suggests that OPEC + will not respond to Washington: a barrel of oil reaches $ 80 at the end of the year
The US investment bank Goldman Sachs said the US's recent call for OPEC + to boost oil production is unlikely to lead to increased production in the short term given the threat of demand from the delta strain of the Corona virus.
On Wednesday, the administration of US President Joe Biden urged the Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC +, to increase production to counter rising gasoline prices, which they see as a threat to global economic recovery.
“We see neither the recent White House statement threatening the current market deficit nor the pace of rebalancing in the second half of 21,” Goldman Sachs said in a note dated Thursday, maintaining its year-end forecast for Brent crude at $80 a barrel.
Brent crude futures fell 0.4 percent to $71 a barrel on Friday, while US West Texas Intermediate crude traded around $68.76.
However, Goldman noted that an additional increase in OPEC+ production by the end of the year is required to counteract recent supply disappointments globally, and expects that OPEC+ spare capacity will be fully normalized by the spring of 2022.
Last month, OPEC+ agreed to increase oil supply from August to cool prices that had climbed to two-and-a-half-year highs. Read more
The US bank recently lowered its forecast for oil demand in China, citing growing concerns about the spread of the delta variable.
"In the short term, Delta's threat to oil demand has already weakened the global balance, with the deficit narrowing from 2.3 to 1.0 million barrels per day," the bank said.
"Looking beyond delta headwinds, we expect the demand recovery to continue along with higher vaccination rates.
An economist stresses the need to put in place procedures and decisions that guarantee the rights of workers in companies
The expert in economic affairs, Malaz Al-Amin, stressed the need to put in place procedures and decisions that guarantee the rights of workers in companies, shop owners, laboratories, and even contractors.
Al-Amin said in a statement to the National Iraqi News Agency / NINA / that the Parliament, the government and the Ministry of Labor should set strict procedures that compel company owners, shop owners, laboratories and even contractors to list the names of their workers to deduct a small percentage of their wages that will be returned to them doubled when they reach retirement age or are exposed to a situation Sickness prevents them from continuing to work, so as not to be a burden on others.
He added: "The Ministry of Labor and Social Affairs, announced earlier that the number of those covered by social security rose from 250,000 citizens during June of last year, to 610,000 citizens at the end of this July, and this is a good indicator, noting that" the fact that everyone knows is that The number of workers in Iraq exceeds 7 million citizens, and these are not covered by social security, meaning that when they are exposed to damage, disability, or age, they are not covered by social security salaries due to the lack of seriousness in implementing the laws in force to force the owners of companies or shops to register the names of workers with the Social Security Department ".
He said:" the laxity in the loss of a large slice of the rights of citizens is causing great harm to this segment made flower youth work in the maquiladora and endured weather conditions and harsh nature of the work. "
He stressed the importance of the House of Representatives, the government and the Ministry of Labor setting strict procedures that compel the owners of companies, shop owners, laboratories and even contractors to include the names of their workers to deduct a small percentage of their wages to be returned to them double when they reach retirement age or they are exposed to a condition that prevents them from continuing to work, and in order not to They will be a burden on others, indicating that although the amount of the guarantee salary is small, it constitutes moral support for the guaranteed worker that society appreciates his efforts he made earlier and contributed to building and progressing the country.
CBI Update: Just a note: FRIDAY
including $0. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
8-12-2021 Intel Guru Frank26 Article: "Parliamentary Planning: The objections and observations of some ministries disrupted the implementing of the 2021 budget articles". Let me ask you something. Have you ever heard them use the word 'now' especially with the announcement completion of the budget that is about 8 months late? Now? Now means now. I want to tell you things but I can't. It doesn't get any simpler than now means now.
8-12-2021 Newshound/Intel Guru Mnt Goat ...the CBI plans to monitor for inflation for the next couple days or even weeks before they go live on FOREX. We don’t know how long. Nothing is firm. Once they completed the replacement of the lower denominations there is no turning back. They must go to FOREX and the OFAC sanctions from the US Treasury must be lifted. To this date the banks are still telling me they can not touch my dinar until these sanctions are lifted. So this too will be a signal to us that the CBI is moving ahead...
8-12-2021 Intel Guru MarkZ [via PDK] ...they keep putting us off but Banks have to be prepared. If somebody cries “Wolf” , they have to be there in case there really is a wolf. There still has been good progress this week. ...The news continues to be positive in Iraq as they position for something to happen in the month of August...All I can is buckle up…
8-12-2021 Newshound/Intel Guru Walkingstick [via Guru Frank26 In Iraq...a dinar is a dinar. Their goal is to be on par with the American dollar. They may un-peg but they want to be on par with it. When the dinar climbs in value either domestically or internationally it's the same value. A dinar is a dinar. But when the exchange rate increases it increases across the board. A dinar is a dinar. The key is that it gives the Iraqi citizens more purchasing power and that is one of the main priorities of the monetary reform...there's only one rate
8-12-2021 Intel Guru Frank26 Article: "The Parliament Committee to monitor the implementation of the government" It's already been calculated and laws already passed. The 2022 budget is almost done and the 2021 budget has already been activated. The thing is though it was amended for you Iraqi citizens...the 2021 budget is ready now. IMO both the 2021 budget and 2022 budget have the same exchange rate...the 2021 budget is ready. The 2022 budget is being prepared...they're all on a completely different dimension than you've ever seen Iraqi citizens.
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