WOTS TUE MAR 15 22Decreased contribution of oil to the budget... and an expert: The shift from the rentier economy is going like a "turtle"
Iraqi News Articles for March 15th 2022:
Document.. the decision to open the door for candidacy for the post of President of the Republic
Parliamentary decision
House of Representatives
No. (7) for the year 2022
The House of Representatives, in its session numbered (3), decided the first legislative term / legislative year
The first/fifth electoral cycle held on 4/5/2022.
The door for candidacy for the post of President of the Republic has been opened for one time only
and not renewed.
Parliament session next week to select committees and elect the President of the Republic
Al-Zamili from Erbil: Next week, we will call for a plenary session to select committees and elect the President of the Republic
Al-Fateh: The Sadrist framework alliance will be resolved within the next 72 hours
The leader of the Al-Fateh Alliance, Fadel Al-Fatlawi, confirmed today, Tuesday, that the next 72 hours will resolve the alliances and will witness a political breakthrough, noting that the alliance between the coordination framework and the Sadrist movement must be completed after the dialogues continue in earnest.
Al-Fatlawi said in a press interview, "There are intense meetings after Al-Hanana's meeting with Al-Sadr, and that the alliance between the coordination framework and the Sadrist movement must be completed after the dialogues continue in earnest and after the doors were opened for them, which indicates the preparation for the parliament session early next week to vote on the President of the Republic." After the agreement between the framework and the current on forming the largest bloc and proceeding to nominate and form the prime minister, we are certain that the agreement will be the master of the political scene, especially in the Shiite house.”
Al-Fatlawi added, "The next 72 hours will resolve alliances and we will witness a political breakthrough, and the framework will support any figure for the position of President of the Republic agreed upon by the two Kurdish parties."
Al-Fatlawi indicated that "the new session of Parliament will be held next week to resolve matters between the two Kurdish parties regarding the President of the Republic, and between the current and the framework regarding the formation of the largest bloc ."
Newspaper: The Nomination Of “Jaafar” Is A Maneuver By Al-Sadr To Pass Al-Kazemi
The Saudi newspaper, “Al-Sharq al-Awsat” described, on Tuesday, that the leader of the Sadrist movement, Muqtada al-Sadr, nominated his cousin Jaafar al-Sadr to head the next government as a political maneuver, indicating that al-Sadr is trying to pass Mustafa al-Kazemi at a time when Qasim al-Araji and Haider al-Abadi were nominated before coordination framework.
. The newspaper stated in a report seen by “Al-Maalouma” that “the forces of the coordination framework tried to respond to Al-Sadr with more than one formula; Including that he did not announce publicly after his adoption of Jaafar al-Sadr as the only candidate for prime minister. The first of which was its unofficial announcement, most notably Haider al-Abadi, the former prime minister, and Qassem al-Araji, the current National Security Adviser.
And she added, "The problem of the bloc is the largest bloc that still exists, and it is the biggest obstacle for both Shiite parties, the Sadrist movement and the coordination framework. While the Sadrists see that they are the "major bloc" with 75 deputies, the forces of the "coordinating framework" see that it is the "great bloc" after it was able to Who gathered 83 deputies.
She pointed out that "the presidency of the parliament has not yet been registered" the "major bloc" that nominates the prime minister after the election of the president of the republic. While a Shiite breakthrough appeared after al-Sadr’s contact with al-Maliki rejoiced the Kurds and Sunnis in terms of passing their candidate easily in the next session after a section of the “framework” forces joined them, the re-pitching of the candidates for the position of prime minister and how to determine the “big bloc” made everyone return to the first square of understandings.
She explained, "At a time when the Sadrists are silent about what appeared to the public opinion that Jaafar al-Sadr is their candidate, with the possibility of putting up another candidate; The forces of the “coordinating framework” began to hint at the names of their most prominent candidates, al-Abadi and al-Araji, and there are indications that some agencies and parties have begun to circulate, stating that Jaafar al-Sadr has apologized for taking up the position, noting that “the silence of the Sadrists so far seems suspicious, with indications that the story of Jaafar’s candidacy Al-Sadr by Muqtada Al-Sadr is just a maneuver, and that Al-Sadr’s real candidate is the current Prime Minister Mustafa Al-Kazemi, who, even if he wrote a farewell tweet on “Twitter”, it seemed to many to be a maneuver as well.”
Al-Sadr arrives in Beirut in preparation for his assignment to form the Iraqi government.. What is the position of the framework? - Urgent
Today, Tuesday, the representative of the State of Law coalition, Thaer Mukhaib, revealed the arrival of the Iraqi ambassador to London, Jaafar al-Sadr, to Beirut in .preparation for coming to Baghdad to assign him to form the new Iraqi government
He told (Baghdad Today) that "the Iraqi ambassador to London, Jaafar al-Sadr, arrived in the Lebanese capital, Beirut, and is on his way to Iraq soon, for the purpose of proceeding with his assignment to form the government after the passing of the President of the Republic," noting that "Al-Sadr knows that he is a candidate." To form the government and his coming to Beirut as a stop before his entry into Iraq means that he came for the purpose of being tasked with forming a new ".government
He added, "The political blockage that occurred has ended and the government is proceeding with consensus between the framework, the current and the rest of the partners," noting that "the third influential on forming the government (a third of the framework blocs) will go with everyone to choose the prime minister at a critical stage that Iraq is going through, especially the economic situation and restoring .security." and improving services for collapsing infrastructure
He concluded by saying: "Today, we are in anticipation for the purpose of forming ".the government, and the rest of the state's joints must proceed
Brazil confirms to the United States its intention to increase oil production
The Brazilian government has assured the United States that it will increase its oil production, in a decision that may contribute to alleviating concerns about global crude supplies after the Russian invasion of Ukraine .
The Brazilian Minister of Mines and Energy, Bento Albuquerque, stated that he had spoken to his American counterpart, Energy Minister Jennifer Granholm, and assured her that Brazil would increase its oil production .
"She asked me if Brazil could be a party to these efforts (to produce more oil) and I told her 'Of course it can'. We are already increasing production, while most OECD countries have reduced it," he said in a memo to the ministry. last ".
During the talks, Granholm made it clear that other countries are taking similar decisions to avoid further volatility in global oil markets .
The Brazilian minister did not explain in detail the amount of the planned increase in production, nor the time frame for it .
The Kurdistan Democratic Party reveals the date of the vote on the President of the Republic: Reber Ahmed to the Peace Palace
The Kurdistan Democratic Party revealed today, Tuesday, that the Iraqi parliament session dedicated to naming the new President of the Republic of Iraq will be held after the Nowruz holidays.
"The Iraqi parliament's special session to vote on the new president of the republic will take place after the completion of the Nowruz holidays, and it is hoped that it will be held on (26 or 27) of this month," the party's deputy, Majid Shankali, told Shafaq News.
And he indicated that "our candidate (Reber Ahmed) is the candidate of the tripartite coalition for the presidency, and there is a large parliamentary majority that will support this nomination," adding that "Ahmed will be the head of the Peace Palace in the coming days, and this matter has been resolved."
On the tenth of March, the Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, announced that the parliament had received the names of 40 candidates for the post of President of the Republic, and that the session devoted to electing a new president for Iraq would be held after checking these names by the concerned authorities.
Last February, the Kurdistan Democratic Party announced the candidacy of the region's Interior Minister, Reber Ahmed, for the presidency of the Iraqi Republic.
The Democratic Party candidate will compete with the candidate of the Patriotic Union of Kurdistan, the current president, Barham Salih, for the votes of members of the Iraqi parliament to win the position.
According to the political custom followed throughout the previous sessions, the Patriotic Union of Kurdistan has held the position of President of the Republic since the overthrow of the previous regime in 2003.
But in terms of numbers, the fact that the Kurdistan Democratic Party won 31 parliamentary seats in the recent legislative elections, compared to only 17 seats for the Patriotic Union of Kurdistan, may reverse the equation this time.
The Democratic Party says that the Union nominated Saleh for the position without the consent of the rest of the Kurdish forces, which prompted him to put forward a candidate from his side to fill the position.
Decreased contribution of oil to the budget... and an expert: The shift from the rentier economy is going like a "turtle"
The Ministry of Finance issued the Iraqi state accounts for the month of December for the fiscal year 2021, which indicated an increase in the contribution of the non-oil sectors by 11%, while an economic expert described the process of shifting from the rentier economy to a turtle.
Shafak News Agency followed the data and tables issued by the Ministry of Finance in the current month of March for the accounts of last December, which indicated that oil is still the main resource for Iraq's general budget, despite its decline by 1.11% from last November, bringing the contribution of oil to the general budget 89% After it was 90% last November, which indicates that Iraq is trying to get out of the rentier economic system.
Through the financial tables, it shows that the total oil revenues from the beginning of January until the month of December amounted to 96 trillion and 622 billion and 396 million and 704 thousand and 686 dinars, which represents 89% of the total revenues, while the total non-oil revenues amounted to 12 trillion and 459 billion and 35 One million and 657 thousand and 185 dinars, which constitutes 11% of the total revenues, while the total oil and non-oil revenues amounted to 109 trillion and 81 billion and 432 million and 361 thousand and 870 dinars, which is 42% higher than the same period last year 2020, which amounted to 63 trillion and 199 billion dinars. As a result of high oil prices.
According to the financial report; The non-oil revenues for the month of December came from the current revenues represented by taxes on income and wealth at 3 trillion and 252 billion and 565 million and 479 thousand and 951 dinars, and they also came from commodity taxes and production fees at a trillion and 283 billion and 676 million and 71 thousand and 188 dinars and also came from Fees that amounted to one trillion, 137 billion and 883 million and 79 thousand and 498 dinars, and from the share of public sector profits, at a trillion and 513 billion and 945 million and 267 thousand and 361 dinars, and from transfer revenues that amounted to 4 trillion and 990 billion and 265 million and 118 thousand and 713 dinars and from other revenues at the rate of A trillion and 561 billion and 690 million and 987 thousand and 531 dinars.
It also came from capital revenues, which amounted to 71 billion and 108 million and 810 thousand and 810 dinars.
for his part; The economic expert, Manar Al-Tahan, considered in an interview with Shafaq News Agency that "the economic reforms announced by Iraq and reducing dependence on oil in its public budget by shifting from the rentier economy is a slow process", describing it as a "turtle".
He added, "Iraq needs nearly 10 years of complete economic reforms to reach 50 percent of its dependence on oil in the general budget," adding at the same time that "oil fluctuations, distortions and economic problems that Iraq suffers from, in addition to the corruption that exists in the state." prevents such economic reforms."
He pointed out that "the state did not show much interest in restoring industry and agriculture, in addition to finding a solution to the problem of electricity, which is the backbone of the country's economic life, and it was satisfied with imposing fees and taxes on citizens as a patchwork solution to the problem of liquidity that it suffered during the last period."
The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview with Shafaq News Agency that "the reasons for the economy remaining rentier are due to wars and the imposition of sieges during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources."
Saleh pointed out that "development, stability, diversification of the economy, and the transition from a rentier economy require political stability and stable institutions, which the state has missed over the years."
And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes Iraq at risk of global crises that occur from time to time due to the impact of oil on it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions.
Below here is the Daily WOTS for Mar 15 22 Word on the Street Report:
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1430.7000 |  1485.5000 | 1456.5000 | 1456.3000 | 1456.3000 |  0.0000 | 00:07 |
| USD/VND | 22880.0000 | 22890.0000 | 22873.7400 | 22852.5900 | 22852.5900 | 24.0400 | 04:07 |
| USD/CNY | 6.3718 | 6.3738 | 6.3834 | 6.3643 | 6.3644 | 0.0074 | 05:13 |
| USD/KWD | 0.3036 | 0.3046 | 0.3039 | 0.3037 | 0.3039 | -0.0002 | 05:05 |
| GBP/USD | 1.3037 | 1.3038 | 1.3051 | 1.2999 | 1.3001 | 0.0036 | 05:13 |
| USD/IRR | 42000.0000 | 42600.0000 | 42303.5000 | 42261.7000 | 42303.5000 | 0.0000 | 00:07 |
| USD/IDR | 14308.0000 | 14308.0000 | 14347.0000 | 14292.0000 | 14345.0000 | -38.0000 | 05:13 |
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Oil prices fell today, Tuesday, to low levels, compared to the rise they witnessed during the past two weeks, after the war between Russia and Ukraine.
The price of Brent crude, according to the latest update, for today, Tuesday, reached 101 dollars per barrel, while the US benchmark West Texas Intermediate crude contracts fell earlier to 6.32 dollars.
The Kurdistan Democratic Party reveals the date of the vote on the President of the Republic: Reber Ahmed to the Peace Palace
The Kurdistan Democratic Party revealed today, Tuesday, that the Iraqi parliament session dedicated to naming the new President of the Republic of Iraq will be held after the Nowruz holidays.
"The Iraqi parliament's special session to vote on the new president of the republic will take place after the completion of the Nowruz holidays, and it is hoped that it will be held on (26 or 27) of this month," the party's deputy, Majid Shankali, told Shafaq News.
And he indicated that "our candidate (Reber Ahmed) is the candidate of the tripartite coalition for the presidency, and there is a large parliamentary majority that will support this nomination," adding that "Ahmed will be the head of the Peace Palace in the coming days, and this matter has been resolved."
On the tenth of March, the Deputy Speaker of the Iraqi Parliament, Shakhwan Abdullah, announced that the parliament had received the names of 40 candidates for the post of President of the Republic, and that the session devoted to electing a new president for Iraq would be held after checking these names by the concerned authorities.
Last February, the Kurdistan Democratic Party announced the candidacy of the region's Interior Minister, Reber Ahmed, for the presidency of the Iraqi Republic.
The Democratic Party candidate will compete with the candidate of the Patriotic Union of Kurdistan, the current president, Barham Salih, for the votes of members of the Iraqi parliament to win the position.
According to the political custom followed throughout the previous sessions, the Patriotic Union of Kurdistan has held the position of President of the Republic since the overthrow of the previous regime in 2003.
But in terms of numbers, the fact that the Kurdistan Democratic Party won 31 parliamentary seats in the recent legislative elections, compared to only 17 seats for the Patriotic Union of Kurdistan, may reverse the equation this time.
The Democratic Party says that the Union nominated Saleh for the position without the consent of the rest of the Kurdish forces, which prompted him to put forward a candidate from his side to fill the position.
Decreased contribution of oil to the budget... and an expert: The shift from the rentier economy is going like a "turtle"
The Ministry of Finance issued the Iraqi state accounts for the month of December for the fiscal year 2021, which indicated an increase in the contribution of the non-oil sectors by 11%, while an economic expert described the process of shifting from the rentier economy to a turtle.
Shafak News Agency followed the data and tables issued by the Ministry of Finance in the current month of March for the accounts of last December, which indicated that oil is still the main resource for Iraq's general budget, despite its decline by 1.11% from last November, bringing the contribution of oil to the general budget 89% After it was 90% last November, which indicates that Iraq is trying to get out of the rentier economic system.
Through the financial tables, it shows that the total oil revenues from the beginning of January until the month of December amounted to 96 trillion and 622 billion and 396 million and 704 thousand and 686 dinars, which represents 89% of the total revenues, while the total non-oil revenues amounted to 12 trillion and 459 billion and 35 One million and 657 thousand and 185 dinars, which constitutes 11% of the total revenues, while the total oil and non-oil revenues amounted to 109 trillion and 81 billion and 432 million and 361 thousand and 870 dinars, which is 42% higher than the same period last year 2020, which amounted to 63 trillion and 199 billion dinars. As a result of high oil prices.
According to the financial report; The non-oil revenues for the month of December came from the current revenues represented by taxes on income and wealth at 3 trillion and 252 billion and 565 million and 479 thousand and 951 dinars, and they also came from commodity taxes and production fees at a trillion and 283 billion and 676 million and 71 thousand and 188 dinars and also came from Fees that amounted to one trillion, 137 billion and 883 million and 79 thousand and 498 dinars, and from the share of public sector profits, at a trillion and 513 billion and 945 million and 267 thousand and 361 dinars, and from transfer revenues that amounted to 4 trillion and 990 billion and 265 million and 118 thousand and 713 dinars and from other revenues at the rate of A trillion and 561 billion and 690 million and 987 thousand and 531 dinars.
It also came from capital revenues, which amounted to 71 billion and 108 million and 810 thousand and 810 dinars.
for his part; The economic expert, Manar Al-Tahan, considered in an interview with Shafaq News Agency that "the economic reforms announced by Iraq and reducing dependence on oil in its public budget by shifting from the rentier economy is a slow process", describing it as a "turtle".
He added, "Iraq needs nearly 10 years of complete economic reforms to reach 50 percent of its dependence on oil in the general budget," adding at the same time that "oil fluctuations, distortions and economic problems that Iraq suffers from, in addition to the corruption that exists in the state." prevents such economic reforms."
He pointed out that "the state did not show much interest in restoring industry and agriculture, in addition to finding a solution to the problem of electricity, which is the backbone of the country's economic life, and it was satisfied with imposing fees and taxes on citizens as a patchwork solution to the problem of liquidity that it suffered during the last period."
The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview with Shafaq News Agency that "the reasons for the economy remaining rentier are due to wars and the imposition of sieges during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources."
Saleh pointed out that "development, stability, diversification of the economy, and the transition from a rentier economy require political stability and stable institutions, which the state has missed over the years."
And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes Iraq at risk of global crises that occur from time to time due to the impact of oil on it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions.
CBI Update: Just a note:
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