WOTS FRI JUN 3 22 Iraq is ranked second in the list of ten economies that will grow at the highest pace in 2022
These are the articles I discussed on the My FX Buddies Podcast:
Nasiriyah residents storm the electricity department due to power outages for several days
Iraq is ranked second in the list of ten economies that will grow at the highest pace in 2022
Forecasts prepared in April 2022 showed that the global economy this year is expected to grow by .3.6%, and this comes in light of the pressures it is facing And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are .expected to grow at the highest pace in 2022,
and the list included 3 Arab countries According to a graph by "Statista", a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world's .economies in growth, as its economy is expected to grow by 47.2%
In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger .)(6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4%
my favorite article of the day
Will (the street) end the political impasse in Iraq, after the failure of all the cartoonish initiatives?
There is no glimmer of hope in the immediate horizon to end the political impasse in Iraq, after the failure of all internal and external attempts to bring the two sides of the conflict closer, consisting of the Triple Alliance, which includes the Sadrist movement and the Alliance of Sovereignty led by Parliament Speaker Muhammad al-Halbousi. And the Kurdistan Democratic Party led by Massoud Barzani, in contrast to the coordination framework that includes the State of Law coalition headed by Nuri al-Maliki, the Fatah Alliance headed by Hadi al-Amiri, and other groups, in addition to the support of the Patriotic Union of Kurdistan headed by Bafel Talabani.
Political analyst Ghaleb Al-Daami believes that the options presented are "the best of them all," especially resorting to the street, which is tired of a parliament that has failed for eight months to find a solution to its crisis.
How will he manage the next stage? Al-Daami adds that resorting to the street will lead to armed conflict, which all political forces fear, especially since arms seem motivated by all parties, with the exception of the civil movement, which presents the option of resorting to the Federal Court, to resolve the conflict.
The collision line
In the context, according to political analyst Saher Abdullah, the case of approaching the armed collision line leads to chaos, and may "put Iraq under international guardianship."
Abdullah says that there are two lawsuits before the Federal Court, filed by the civil movement and human rights activists, calling for the parliament to be dissolved, as it failed in the constitutional obligations, which require choosing a president for the republic within 30 days of the first session of the House of Representatives.
The General Coordinator of the Democratic Current, Zuhair Zia El-Din, asserts that the Federal Court did not stipulate in its law the permissibility of dissolving Parliament, but on the other hand, it has the right to address any constitutional violation, from any party, as this is its duty.
Constitutional violations.
He adds that the Federal Court's acceptance of the lawsuits filed against the parliament's presidency means that it is concerned with the matter and has no right to condone constitutional violations that may lead to disasters, noting that the court set the fifth day of this month to consider the case of the Democratic Current.
An upcoming meeting between Al-Amiri and Jaafar Al-Sadr, the candidate for prime minister.. This is the meeting's agenda
Today, Friday, Mahmoud Al-Hayani, the leader of the Al-Fateh Alliance, revealed an upcoming meeting between the Secretary-General of the Badr Organization Hadi AlAmiri, the candidate of the Triple Alliance to head the next government, Jaafar AlSadr, to discuss developments in the political process, end the blockage and form the .government
Al-Hayani said in a statement to (Baghdad Today) that "there is an expected date that will bring together the Secretary-General of the Badr Organization, Hadi al-Amiri, the candidate of the Triple Alliance to head the next government, Jaafar al-Sadr, to discuss developments in the political process, end the blockage and form the ".government
He added that "the place of the meeting has not yet been determined, whether it ".was in Baghdad or in Al-Hanana, but it is certain that it will be inside Iraq
Al-Hayani explained that "this meeting may be a gateway to ending the blockage, especially since intransigence in political opinion and everyone who adheres to noting that "the ", positions will not work and did not take us to form a government real breakthrough lies in entering into dialogues between the blocs at the level of the national space or at the level of the house." Shiites, there are two initiatives that were from the current and the framework, but none of them succeeded, and therefore we must sit at one table for dialogue
A source for "Economy News": Oil companies in Kurdistan will appear before the Commercial Court in Baghdad next Sunday
An informed source revealed that Western oil companies operating in the fields of the Kurdistan region have received a summons to appear before the Commercial Court in Baghdad next Sunday.
The source, who preferred not to reveal himself to Economy News, said that the Ministry of Oil, after the Federal Court’s decision, which included the unification of oil policy and the failure of the Kurdistan Region to produce and export oil independently, began to take legal measures to compel oil companies to contract with Baghdad instead of the Kurdistan region, referring to The Western oil companies received a summons to appear before the Commercial Court in Baghdad next Sunday.
The source added that the companies operating in the Kurdistan region began to meet in London to agree on a certain mechanism, especially as it says that it is not binding with Baghdad, but rather in contracts signed with the Kurdistan Regional Government, and the dispute may turn to one of the commercial courts in Europe.
A law determines a way to legislate the budget, even with the presence of a caretaker government
Legal expert Ali Al-Tamimi confirmed that Parliament can pass the 2022 budget despite the presence of the caretaker government in power, pointing out that the Financial Management Law allows Parliament to do so.
Al-Tamimi said, "Parliament has the authority to authorize the caretaker government to send the general budget law, because it is related to food security, which is one of the first priorities of the caretaker government."
He added that "the mandate to send the budget requires a vote of the absolute majority of the number of members in Parliament, and that this right is limited only to the budget law exclusively."
And he indicated that “the authorization must include the approval of the final accounts of the previous year’s budget in accordance with the Financial Management and Public Debt Law No. 6 of 2019, as all of this comes in accordance with Articles 62, 5 and 61 of the Constitution and 12 and 13 of the Financial Management and Public Debt Law No. 6 of 2019 and articles From 128 to 138 of the Parliament’s Bylaws and Procedures.
Independent Deputy: The political parties did not respond to our initiative, and we rule out a breakthrough soon
The independent representative, Yasser Watut, confirmed today, Friday, that the partner political parties have not yet responded to the initiative of the independent representatives. Watout
said, "Our initiative has so far remained as it is, and no other political party has interacted with its provisions," noting that MP Hassan Al-Khafaji is responsible and responsible for negotiating the initiative with the rest of the partners.
It is in the same condition as the existing blockage.
US official: Biden will visit Saudi Arabia if it is in Washington's interest
A senior White House official told CNN that US President Joe Biden will visit Saudi Arabia, if it is in Washington's interest.
He stressed that the United States sees Saudi Arabia as a "strategic partner" in many issues, regardless of its human rights record, noting that "concerns" still exist with the US administration about Riyadh's human rights record "and the previous behavior, most of which preceded the current administration." ".
The official pointed out that Washington discussed these concerns with the Kingdom, stressing that "contacts and diplomatic efforts" with Riyadh "intensified recently."
He said Biden was "determined that if engaging with the leader of another country is in the interest of the United States of America and yields results, he will do so."
It is noteworthy that until now, there is no official announcement from Washington about Biden’s visit to Saudi Arabia, and sources have suggested to CNN that Biden will meet Saudi Crown Prince Mohammed bin Salman later this month during a visit he will make to the Kingdom, but no official announcement has been issued by the two countries about This step after.
A member of Parliamentary Finance reveals a shocking surprise about food security and describes the lecturers as a "heresy"
Jamal Cougar said in a press statement: "There is no date for voting on the food security proposal because there are many comments, ministerial demands, parliamentary objections, and things outside the authority of the House of Representatives," adding that "the law's proposal is that it does not exceed 25 trillion dinars without loans."
He added, "The tables of the proposal are not clear, and they are the spirit of the law," noting that "95% of the deputies do not know how these amounts will be distributed and the tables will be prepared after considering all the requests."
Cougar described, "Free lecturers are a heresy that exists in Iraq only, and their allocations are not with the House of Representatives, but with the executive body because the appointments are more knowledgeable."
He stressed that "the 2022 budget is linked to the legislation of the Food Security Law, and if the law is not approved, the political forces will be forced to form a government to allocate funds for urgent needs in the country, but there is an urgent need to legislate a food security law."
And he announced that "Iraq achieved a surplus of $ 5 billion from selling crude oil with the rise in prices globally," revealing that "250,000 people receive salaries and very huge sums of up to 16 billion dinars, and the salary scale must be unified and justice is achieved."
Fouad Hussein to the US Ambassador to Iraq: The security situation in Iraq is improving compared to the past
Minister of Foreign Affairs, Fouad Hussein, confirmed today, Friday, that the security situation in Iraq is improving compared to the past.
The ministry stated in a statement that Mawazine News received a copy of it, that "Foreign Minister Fouad Hussein received a copy of the credentials of Alina L. Romanowsky, the US ambassador to Iraq, and then the two sides held talks about ways to advance bilateral relations between the two countries, and the importance of enhancing opportunities for Cooperation at various levels to meet the aspirations of the two peoples.
The statement added that "the two sides discussed the most important climatic challenges facing the region, such as dust, drought, desertification, and the decline of biodiversity, and ways to confront all of this, to reduce the effects of the phenomenon of climate change and provide a healthy environment suitable for humanity."
And he indicated that "the situation in Iraq, including the security situation, explained that" the security situation in Iraq is improving compared to the past, pointing out that "the government is making great efforts to return the remaining displaced persons, and to create a safe environment for their return to their areas of residence."
He added that "the two sides also discussed a number of international and regional issues, and files of common interest, foremost of which are the security and military developments in Ukraine and how this conflict affects the security situation in the region in general and the economic situation in particular."
For her part, the US ambassador expressed her country's commitment to providing support and assistance to the government and people of Iraq in several areas, including culture, education, health and the environment.
Hussein affirmed, according to the statement, "the Ministry of Foreign Affairs' readiness to provide all conditions that would enable it to perform its duties to the fullest."
Iraq is ranked second in the list of ten economies that will grow at the highest pace in 2022
Forecasts prepared in April 2022 showed that the global economy this year is expected to grow by .3.6%, and this comes in light of the pressures it is facing And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are .expected to grow at the highest pace in 2022,
and the list included 3 Arab countries According to a graph by "Statista", a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world's .economies in growth, as its economy is expected to grow by 47.2%
In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger .)(6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4%
Oil stabilizes after doubts about the ability of OPEC + to compensate for the lack of Russian supplies
There was little change in oil prices on Friday, and they stuck to the gains they made in the previous session due to doubts that oil producers in the OPEC + bloc can increase crude production enough to compensate for the lack of Russian oil supplies.
By 0112 GMT, the price of West Texas Intermediate crude futures rose one cent to $116.88 a barrel. Brent crude futures rose seven cents to $117.68 a barrel.
The OPEC + bloc, which includes the Organization of Petroleum Exporting Countries (OPEC) and independent oil producers, including Russia, decided to increase production by 648,000 barrels per day in July and August instead of 432,000 barrels per day according to a previous agreement, but this was considered insufficient for a market suffering from lack of supplies. .
And government data revealed on Thursday that US crude stocks fell more than expected in the week ending May 27, and fuel stocks fell, defying expectations of an increase.
UN mediation: Plasschaert on the line of negotiations to form a government
International mediation The
Independent Representatives: Our initiative needs international support to push it as an option for the government formation. And the Triple Alliance: Plasschaert is the strongest party in the political equation
UN envoy inIraqJenin Plasschaert intervened on the line of negotiations related to the formation of the government... through a political tour that she gathered with independent representatives and a number of leaders in an attempt to bring views closer and support some initiatives
Jenin Plasshart.. UN Envoy inIraqIt is taking the lead again in a political tour that it started with the independent representatives, publicly entering through the door as a mediator to support their initiative, which, according to their description, needs an international push that convinces the political forces of a road map towards the government formation
The entry of the UN envoy as a mediator to bring the views closer is an indication of the depth and blockage of the crisis, which prompted some deputies to go to Plasschaert, which constitutes the strongest party in the political equation, as described by deputies
Internally, it seems that matters will not be resolved without a local dialogue, and the blockage will not be resolved except by the intervention of the international community
US-British UN affirmation of support for Iraq
Friday, the United Nations, America and Britain affirmed Iraq's stability, sovereignty, and economic empowerment.
The US embassy in Baghdad said in a statement, "Ambassador Alina L. Romanowski met with the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert, and the UK Ambassador to Iraq, Mark Bryson Richardson, on 3 June."
According to the statement, El Romanowski expressed her "appreciation for the coordination between the United Nations and the United Kingdom with the United States and the rest of the international community in support of a stable, prosperous, democratic and united Iraq."
"The United Nations and the United Kingdom are essential partners in our multi-pronged relationship with Iraq to advance our many common interests, including Iraq's stability and sovereignty, economic empowerment, anti-corruption efforts, energy independence, climate, protection of human rights, and underline our commitment to ensuring humanitarian assistance to people," she added. Almtafvin."
Muqtada al-Sadr puts forward a 4-point proposal on the coordination framework
The leader of the Sadrist movement, Sayyid Muqtada al-Sadr, presents a 4-point proposal on the coordination framework
1- The joining of 50 deputies from the coordination framework to the Triple Alliance (Save the Homeland)
2- Freezing the armed factions for a specific period for the purpose of giving an opportunity to negotiate by Parliament and the government with the aim of exiting the international coalition forces from Iraq and the replacement of the head of the Popular Mobilization
3- Al-Sadr: We are fully committed to the nomination of Jaafar Al-Sadr for the premiership
4- In the event of changing the President of the Republic, this will be done through Kurdish understanding
++++++
These points were studied by the coordination framework and were rejected.
This was considered adherence by them. by the tripartite alliance
Iraq calls on Italy to sign a partnership agreement in the economic and commercial
Today, Friday, Iraq valued the Italian role in the international coalition, while calling on Rome to sign the partnership agreement with Baghdad, in the fields of economy and trade.
In a statement received by Earth News, the Ministry of Foreign Affairs stated that "Foreign Minister Fouad Hussein presented to the Republic of Italy on the occasion of the National Day, saying: It is a pleasure to be with you today to celebrate the anniversary of the National Day of the Republic of Italy, and on this occasion I would like to extend my congratulations to the Italian government and people." The friend, wishing them further progress and prosperity.
He expressed "the depth and strength of the bilateral relations between the two friendly countries, which have been characterized by their historical nature in devoting common interests at all levels, indicating that Italy has a great role in supporting democracy in Iraq," praising the tireless efforts of the Italian government in the reconstruction and rehabilitation of the Mosul Dam through its teams. Creative engineering in exceptional circumstances, has accomplished the mission to support the continuity of the dam’s work well for years to come, and has also worked to support plans and fees for the infrastructure of modern cities in many governorates of Iraq.”
While the minister stressed, "Italy continues to support the political process in Iraq and the parliamentary elections that took place during the past year, extending his thanks to the Italian government for training our Iraqi forces, and for its vital role in participating in the international coalition to defeat the terrorist Daesh."
The Minister also offered, “the Republic of Italy’s blessing for assuming the leadership of NATO in Iraq, and its important role within the international coalition in providing advice and training to our Iraqi security forces of all kinds in order to eliminate the terrorist organization ISIS,” calling “the Italian government to sign a partnership agreement in many economic fields.” and trade in the near future, and expanding the role of international partnerships with major advanced industrial countries to serve Iraq and its people.”
Fouad Hussein directed, "the call to Italian companies in the private sector to engage more in all economic fields in Iraq, and to move forward with joint steps to create bilateral economic and trade partnerships to devote the development path in creating a secure and enhanced environment with confidence from the governments of the two friendly countries.
Jaafar al-Sadr: Proposing a national majority is the most appropriate mechanism for the success of the government program
Aa'a, Mr. Muhammad Jaafar al-Sadr singled out "Al-Sabah" newspaper with an article in which he talks about the future of Iraq between the administration of the state and its construction project.
Mr. Muhammad Jaafar al-Sadr, "son of the martyr Muhammad Baqir al-Sadr", draws a road map towards moving from the stage of power and its administration to the stage of the state and its construction.
He pointed out in his article, which was seen by the Iraqi News Agency (INA), that "the first entitlement after the elections, which is the completion of the state-building project, has not yet been completed," criticizing "the preoccupation with the second entitlement, which is the election of the three presidencies and the preparation of the government program, and leaving work on consensus on the postponed state-building project." always".
Mr. Al-Sadr put "a set of points for building the state according to a practical program characterized by accuracy, the most prominent of which is that our "decision is an independent Iraqi", the limitation of weapons and the fight against corruption."
He believes that "presenting the national majority is the most appropriate mechanism for the success of the government program and the best way to run the state."
Below here is the WOTS for the day "Word on the Street" report:
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1423.0000 |  1478.7000 | 1457.8000 | 1457.7000 | 1457.8000 | 0.4000 | 10:58 |
| USD/VND | 23187.0000 | 23197.0000 | 23196.7500 | 23194.4500 | 23196.7500 | -3.0500 | 22:49 |
| USD/CNY | 6.6593 | 6.6613 | 6.6595 | 6.6593 | 6.6593 | 0.0002 | 01:00 |
| USD/KWD |  0.3056 | 0.3066 | 0.3057 | 0.3056 | 0.3057 | -0.0001 | 05:01 |
| GBP/USD | 1.2569 | 1.2570 | 1.2589 | 1.2559 | 1.2572 | -0.0003 | 05:17 |
| USD/IRR | 42000.0000 | 42600.0000 | 42325.0000 | 42301.7000 | 42325.0000 | -13.8000 | 10:36 |
| USD/IDR | 14417.0000 | 14454.0000 | 14451.0000 | 14397.0000 | 14429.0000 | -12.0000 | 05:16 |
Oil stabilizes after doubts about the ability of OPEC + to compensate for the lack of Russian supplies
There was little change in oil prices on Friday, and they stuck to the gains they made in the previous session due to doubts that oil producers in the OPEC + bloc can increase crude production enough to compensate for the lack of Russian oil supplies.
By 0112 GMT, the price of West Texas Intermediate crude futures rose one cent to $116.88 a barrel. Brent crude futures rose seven cents to $117.68 a barrel.
The OPEC + bloc, which includes the Organization of Petroleum Exporting Countries (OPEC) and independent oil producers, including Russia, decided to increase production by 648,000 barrels per day in July and August instead of 432,000 barrels per day according to a previous agreement, but this was considered insufficient for a market suffering from lack of supplies. .
And government data revealed on Thursday that US crude stocks fell more than expected in the week ending May 27, and fuel stocks fell, defying expectations of an increase.
Parliamentary Finance: It is necessary to vote on the emergency support law before the end of the legislative term
Today, Thursday, a member of the Parliamentary Finance Committee, Muhannad Al-Khazali, called for a vote on the emergency support law before the end of the legislative term at the end of next week.
Khazali told state television, "Since yesterday, the committee began deliberating on the allocations of the law proposal, where large sums will be allocated to supplement food security through the ration card, with approximately 8.5 trillion dinars ."
He added, "With regard to development amounts, 8 trillion dinars will be allocated for the development of the regions, distributed to the governorates according to the population and poverty rate, in addition to one trillion dinars allocated to the oil-producing governorates ."
He pointed out that "the emergency support law also focused on the file of electricity and gas debts, and 5 trillion and 300 billion dinars were allocated in the law for this matter ."
With regard to the allocations for adding lecturers to the law, al-Khazali stated that “the members of the Finance Committee with the addition of allocations for lecturers, contracts and scientists and find that there is an interest in adding them, and a letter was sent to the Ministry of Finance about its need for allocations .”
He stressed that voting on the law must be completed before next Wednesday, the eighth of this month, as it will be the date for the end of the first legislative term . "
CBI Update: Just a note: FRIDAY
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
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