Iraq's central bank has no future plan to change exchange rate - state news agency
A new statement by the Central Bank of Iraq about the dollar exchange rate and the possibility of reducing it to 120 thousand
Today, Sunday, the Central Bank of Iraq confirmed that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic .circumstance is the main criterion for changing the exchange rate
Deputy Central Bank Governor Ammar Khalaf said in a statement to the official agency, "The exchange rate at the present time, in our opinion, as a monetary authority, there is no justification for changing it," explaining that "changing the exchange rate remains within the ".monetary authority's policy and according to circumstances
He added that "the economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3 or 5 years, and it is the economic conditions that ".determine what is the appropriate decision that fits the time period at the time
He stressed that "the exchange rate is within the monetary policy and is the exclusive competence of the Central Bank, and when it sees that there is a necessity, it thinks about changing the exchange rate, but currently there is no justification or need to modify it," explaining, that "monetary policy, one of its advantages is flexibility in general, It is not good to ”.change the exchange rate quickly because it confuses the markets and weakens the economy
This comes after a number of political forces in Iraq renewed the call to change the exchange rate of the dinar against the dollar, by returning the old value to it before December 2020, which .amounted to 1200 dinars to the dollar, instead of the current value of 1458 dinars
In previous statements to Al-Araby Al-Jadeed, Iraqi parliament member Ahmed Al-Rubaie revealed the existence of what he described as “a broad movement of political forces towards changing the exchange rate, by raising the value of the dinar and reducing the price of the dollar and returning it to what it was or a price close to the previous figure. In order for citizens to feel the positive impact of this, and to ease the burdens of high prices resulting from the crises and ”.wars that a number of countries are witnessing
Representative Uday Awad revealed, in an interview with reporters in Baghdad, that more than 100 deputies had collected signatures to reduce the exchange rate of the US dollar against the .dinar
The Iraqi Ministry of Oil announced, earlier this month, that it had achieved oil revenues of more .than 60 billion dollars, during the months The first six for the current year 2022
The recent recovery of oil prices globally, in an unprecedented manner, caused a financial surplus for the country, through which the country was able to recover and emerge from the financial crisis. The financial advisor to the Iraqi Prime Minister, Mazhar Muhammad Salih, had revealed, earlier, that Iraq is living in its best financial conditions, ruling out the country's need to resort to .external borrowing
Iraq has oil reserves of about 145 billion barrels, equivalent to 17 percent of the reserves of the Middle East, and 8 percent of the world's reserves, which is the fifth largest in the world. .However, Iraqi government figures indicate that it has proven reserves of 153 billion barrels
The central bank resolves the controversy over changing the dollar exchange rate
Today, Sunday, the Central Bank confirmed that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic circumstance is the main criterion for changing the exchange rate.
The Deputy Governor of the Central Bank, Ammar Khalaf, said, "The exchange rate at the present time - we believe as a monetary authority - there is no justification for changing it," explaining, "Changing the exchange rate remains within the monetary authority's policy and according to circumstances."
He pointed out that "during the years from 2004 until now, the exchange rate has changed more than once, depending on the circumstances, whether to increase or decrease."
He added, "The economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3-5 years, and the economic conditions determine what is the appropriate decision that fits the time period at the time."
He stressed, "The exchange rate is within the monetary policy and is the exclusive competence of the Central Bank, and when it sees that there is a necessity, it thinks about changing the exchange rate, but currently there is no justification or need to modify it," explaining, that "monetary policy, one of its advantages is flexibility in general and not It is good to change the exchange rate quickly because it confuses the markets and weakens the economy."
Another article... this exact same version was in Lebanese and Bahrain's news, Egypt's news,
Central Bank of Iraq: There is no future plan to change the exchange rate
Reuters) <-- hmmmm interesting
Today, Sunday, the official Iraqi News Agency quoted the Deputy Governor of the Central Bank, Ammar Khalaf, as saying that there is no future plan to change the dinar exchange rate.
Khalaf added that "the economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3-5 years."
After controversy and fears, the Iraqi Central Bank resolves the issue of the dinar exchange rate
link this was in Dubai's news
He sees no justification for moving the exchange rate
Today, Sunday, the official Iraqi News Agency quoted the Deputy Governor of the Central Bank of Iraq, Ammar Khalaf, that the "Central" does not see any justification for changing the exchange rate of the dinar, while indicating that the economic situation is the main criterion in that.
He also confirmed that there are no future plans to do so in the next three to five years.
The Deputy Governor of the Central Bank said, "The exchange rate at the present time - we believe as a monetary authority - there is no justification for changing it," explaining, that "changing the exchange rate remains within the monetary authority's policy and according to circumstances."
He pointed out that "during the years from 2004 until now, the exchange rate has changed more than once, depending on the circumstances, whether to rise or fall."
He added that "the economic circumstance is the main ruler, and there is no future plan to change the exchange rate."
He also explained that "monetary policy, one of its advantages is flexibility in general, and it is not good to change the exchange rate quickly because it confuses markets and weakens the economy."
Statements by deputies in the Iraqi parliament regarding the possibility of adjusting the exchange rate of the Iraqi dinar against the US dollar, raised fears of the impact of this on the local market, which depends on imports from abroad.
Yesterday, Saturday, the dollar exchange rates in Iraq were stable, and selling prices were 1484 dinars per dollar, while buying prices were 1483 dinars per dollar.
The purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at 1460 dinars, while the selling price to the citizen was 1470 dinars per dollar.
The Central Bank: There Is No Future Plan That Includes Changing The Exchange Rate
The Central Bank confirmed, today, Sunday, that there is no justification for changing the exchange rate of the dollar against the Iraqi dinar, while indicating that the economic circumstance is the main criterion for changing the exchange rate.
The Deputy Governor of the Central Bank, Ammar Khalaf, said in a statement seen by / the information agency, that “the exchange rate at the present time - in our opinion as a monetary authority - there is no justification for changing it,” explaining, that “changing the exchange rate remains within the monetary authority’s policy and according to circumstances.”
He pointed out that "during the years from 2004 until now, the exchange rate has changed more than once, depending on the circumstances, whether to increase or decrease."
He added, "The economic circumstance is the main ruler, and there is no future plan to change the exchange rate, whether after 3-5 years, and the economic conditions determine what is the appropriate decision that fits the time period at that time."
He stressed, “The exchange rate is within the monetary policy and is the exclusive prerogative of the Central Bank, and when it deems that there is a necessity; He is thinking of changing the exchange rate, but currently there is no justification or need to amend it,” he explained, “one of the advantages of monetary policy is flexibility in general, and it is not good to change the exchange rate quickly because it confuses markets and weakens the economy.
Reuters: July 10, 2022
12:54 AM PDTLast Updated 34 min ago
- Middle East
Iraq's central bank has no future plan to change exchange rate - state news agency
The dollar is back on the front again.. a parliamentary movement regarding the exchange rate and bringing it back to the previous
link another article about the exchange rate wow
Today, Sunday, the representative of the State of Law coalition, Muhammad Chihod, commented on the existence of a parliamentary movement aimed at changing the .exchange rate of the dollar against the Iraqi dinar during the next stage
Chihod told (Baghdad Today) that "changing the exchange rate of the dollar against the Iraqi dinar is within the authority of the government (the executive authority), and there is no authority for Parliament to change the exchange rate, but we will ".work through the new Iraqi government to change this price
And he indicated that "the change in the exchange rate of the dollar against the Iraqi dinar, negatively affected the economic conditions of many poor families, as it contributed greatly to raising the prices of foodstuffs and others, and for this, work will be done to reduce the price through the new government, being the party .responsible for this file." which has full authority to do so
Biden talks about the end of the combat missions of the American forces and the political stalemate in Iraq
The President of the United States of America, Joe Biden, confirmed that the combat missions of the American forces within the international coalition against ISIS in Iraq have ended.
This came in an opinion article published in the "Washington Post" newspaper, in which he touched on several files, including his scheduled visit to Saudi Arabia next Friday, the Iranian nuclear file, in addition to the crises in Palestine, Yemen, Syria, Lebanon, Iraq and Libya.
Biden believes that the "Middle East" he will visit is "more stable and secure than what his administration inherited 18 months ago," referring to the missile attack that the US embassy in Baghdad faced a month before his inauguration as US president.
He added that the "American combat mission" had been ended and the military presence had been shifted to focus on training Iraqis, while maintaining the missions of the coalition against ISIS.
Biden continued by saying that "the region is still full of challenges, including: Iran's nuclear program, the war in Syria, food security crises, the presence of terrorist groups in some countries, the political stalemate in Iraq, Libya and Lebanon, and human rights files." these issues.
What is the position of the Iraqi Communist Party of Maliki's candidacy for prime minister?
The nomination of the head of the State of Law coalition, Nuri al-Maliki, for the position of Prime Minister for the third time, raises a lot of controversy between the political parties and in the Iraqi street, especially since the leader of the Sadrist movement, Muqtada al-Sadr, stands against al-Maliki's return to this position, and sees Secretary of the Iraqi Communist Party, that al-Maliki is a controversial person, and his nomination for prime minister, "will complicate the situation."
And the Secretary of the Iraqi Communist Party, Raed Fahmy, stated that "Nuri al-Maliki's personality has now changed compared to the period in which he became prime minister (from 2006 to 2014), and times have changed, but despite this change, al-Maliki is a controversial figure, and just his nomination. Assuming the position of prime minister would complicate the situation, because the protest movement and political parties such as the Sadrist movement were against him assuming the position of prime minister,” adding: “There are many comments on the head of the State of Law coalition, especially during the period in which he became prime minister.”
Raed Fahmy pointed to the formation of a strong government capable of correcting the bad conditions that Iraq is witnessing today, in light of the Sadrist movement's withdrawal from the political process, and questions about the parliament's legitimacy, expressing his belief that the political process needs to be corrected through "dissolving parliament and holding new elections."
He also noted that the Iraqis do not care about the personality of the prime minister, as much as they care about "forming a government capable of improving the situation and providing services," adding that achieving this is not easy because "the government must implement projects and confront corruption in state institutions," wondering: "How can a government that is formed on the basis of quotas and from all parties, provide services," noting that this method "has been tried for two decade
Mr. Al-Hakim: We would have liked Mr. Muqtada Al-Sadr to wait in the decision to withdraw for the critical and sensitive period
In the blessed Eid al-Adha sermon that was held in his office in Baghdad on Sunday, Mr. al-Hakim said: “The withdrawal of the brothers in the Sadrist bloc from parliament does not mean their exit from the political scene, and we hoped that Mr. Muqtada al-Sadr would wait in his last decision because we are going through a critical and sensitive period.
World Council: Iraq's gold reserves are stable and represent 8.8%
The World Gold Council announced, on Sunday, that Iraq's reserves of the yellow metal remained stable during the month of May, indicating that its reserves of this precious metal amounted to 8.8% of the rest of its other reserves.
In its latest schedule for the month of May 2022, which was seen by Shafak News Agency, the council said that "the global central banks added 35 net tons to global gold reserves, which is the second consecutive month of net purchase," noting that "the bulk of the rise is caused by purchases of gold. From Turkey (13) tons, while Uzbekistan continued to buy (9) tons, Kazakhstan bought (6) tons, Qatar (5) tons, and India (4) tons.
He added, "Germany was the only seller this month, as it sold two tons of gold."
He pointed out that "this month, Iraq maintained its 40th global position out of the 100 countries listed in the table with the largest gold reserves, reaching 96.4 tons of gold, which represents 8.8% of the rest of its other reserves."
The council stated that "the United States still sits on the throne of the world's gold-possessing countries with 8,133 thousand tons, followed by Germany with 3,355 thousand tons, then Italy 2,451 thousand tons, while Mauritania ranked 100, with 1 tons, preceded by El Salvador with 1.4 tons."
On June 27, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.
It is noteworthy that the World Gold Council, which is headquartered in the United Kingdom, has extensive experience and deep knowledge of the factors that cause market change, and its members consist of the largest and most advanced gold mining companies in the world.
The Iraqi Stock Exchange lacks "credibility"... How does it differ ?from the world's stock exchanges
The economic expert, Nasser Al-Kinani, said today, Sunday, that the Iraqi stock market has lost its credibility among traders due to the volatility of the political .situation
Al-Kinani said, to (Baghdad Today), that "the Iraqi stock market has lost its credibility among traders due to the fluctuation of the political situation," wondering, "?"If the economy has stopped, how will it be productive
He added, "The first shareholders who bought the stock at a value of one dinar after the closure should gradually rise, but the situation in Iraq is different from what is in ".the countries of the world
Al-Kinani continued, "There are those who bought shares in the year 90's worth fifty thousand dinars, and when the company was reviewed, it was found that the value ".of the share is five dinars now
Economists and specialists demanded to expand the work of the Iraqi Stock Exchange, and to attract additional companies to offer their shares to investors, in proportion to the size of the Iraqi economy, especially since the companies listed within the market, their number is estimated at 100, which does not fully reflect the . size of the country's economy
The Iraq Stock Exchange is located in the capital, Baghdad, and was established in June 2004, and operates under the supervision of the Iraqi Securities Commission, an independent body that was established along the lines of the American Securities . and Exchange Commission
And specialists believe that the Iraqi Stock Exchange - the Iraqi Stock Exchange - is not commensurate with the size of Iraq, the trade balance and the national income, stressing the importance of amending the law of the Securities and Companies . Commission to expand the work of the Iraqi financial market In the period prior to the change of the previous regime in 2003, the current market was called the “Baghdad Stock Exchange”, which was managed by the Iraqi Ministry of Finance, but now it is a self-regulatory body, and as of 2005, the Iraq Stock . Exchange became the only stock exchange in Iraq
When it opened in 2004, there were only 15 companies listed in the market, but now 103 Iraqi joint stock companies are listed, representing sectors; Banking, telecommunications, industry, agriculture, insurance, financial investment, tourism .and hotels
Warnings of upcoming protests... Is there a plan to expedite the formation of the government?
Nine months after the general legislative elections in Iraq, which were held on the tenth of October last year, without leading to the formation of a new government so far, amid intensifying differences between the various political forces, and the withdrawal of the first winner in these elections, who is The Sadrist movement, led by the cleric Muqtada al-Sadr, in protest of the forces allied with Iran circumventing his electoral merit in forming the new government.
And Al-Araby Al-Jadeed newspaper published a report in which it indicated the possibility of popular protests returning again in the cities of the country, especially Baghdad and southern Iraq, against the ruling parties. Compatibility".
Despite the continuous meetings of the forces of the "coordinating framework", which has become practically the largest bloc in Parliament after the withdrawal of the Sadrist movement from it, it did not reach a result, even some meetings witnessed a decline in attendance by the leaders of this coalition, including Hadi al-Amiri, who preferred to send According to political sources, the meetings that bring together the Kurdish parties stopped until the end of Eid al-Adha, with no result expected due to the hardening of positions between the two parties.
According to the representative of the "State of Law" coalition, Muhammad al-Sihoud, a member of the coordination framework, "most of the meetings that brought together the forces of the coordination framework to discuss the formation of the government did not reach a result," noting that "the Shiite forces are waiting for what will result from the Kurdish agreements between the two parties (the Union). Patriotic and Kurdistan Democratic Party), because it will be the spark for choosing the prime minister and forming the new government.
Chihod added that "political consensus between parties is usually difficult, and that this is not the first time that dialogues have become difficult, but this period is the longest, because of the election results that were contrary to the parties' expectations," noting that "the withdrawal of the Sadrist movement from the political process has affected Much of the progress of the political process and the mechanism of consensus in the formation of the government."
For his part, a member of the Kurdistan Democratic Party, Mahdi Abdul-Karim, said that "the withdrawal of the Sadrist movement caused great confusion in the political dialogues, as its presence in the political work was systematic and clear, and it demanded a government of a "national majority", meaning that he wanted the election winners to form the government and withdraw The losers turned to the opposition, which is a well-defined international approach, and a basis for creating a good and solid government that knows its goals, but the withdrawal of the Sadrist bloc led to the change of almost everything.”
Abdul Karim added that "the dialogues of the Kurdish parties are not very different from the dialogues taking place between the Shiite and Sunni parties within the forces of the "coordinating framework". towards the formation of the government,” describing the Sadrists as “ready for protests, and they may go to the street at any moment to end the crisis, and here the balance of power will turn in favor of the Sadrists once again.”
With the progress of time, the Patriotic Union of Kurdistan, the governor of the city of Sulaymaniyah in the Kurdistan region of Iraq, is increasing its adherence to its candidate, the current President of the Republic, Barham Salih, while the Democratic Party (led by Massoud Barzani) ruling in Erbil has adhered to its candidate, Reber Ahmed.
On Friday, the Political Bureau of the Patriotic Union of Kurdistan held its regular meeting headed by Bafel Jalal Talabani, head of the party. A statement issued by the party stated that it stressed "the entitlement of the position of the President of the Republic and his approved candidate for this position," stressing "the need to form a balanced, consensual, service-oriented government."
As for the political activist and former member of the “Extension” movement, Ali Al-Sharifi, he pointed out that “independent deputies in Parliament, in addition to the protesters who follow the current political failure, have a scenario that may come true, which is to resort to the street to prevent any political consensus that harms the interests of the Iraqis regarding the issue. Forming the government,” adding that “nine months until the government was not formed, means deliberately disrupting the interests of the Iraqis in order to achieve political gains, whether from the Sadrist movement or the coordinating framework forces and armed factions.”
In turn, the researcher and political analyst Abdullah Al-Rikabi pointed out that "the government formation crisis may extend to the end of this year, because the political parties, whether Arab or Kurdish, Shiite and Sunni, know that all their options are rejected by the Iraqi people, and therefore they sometimes hesitate even to announce the results." its meetings.
He explained that "most of the political forces are relaxed on the survival of Mustafa Al-Kazemi's government to conduct daily business, because it is a guarantor for the continuation of its dialogues, even if the constitution was violated because of this option, so there is a political opinion announced by some political parties in the coordination framework that Al-Kazemi should stay for a longer period.
Iraqis hold their breath, waiting for Friday al-Sadr: a new government or a change in
the rules of the game
The developments of the situation in Iraq indicate that the political process is heading towards early elections and the preservation of Mustafa Al-Kazemi's government for another year, while the parties to the "coordinating framework" that intensifies its meetings despite the differences between its ranks confirmed that the formation of the government and the end of negotiations will be announced after the Eid holiday. Al-Adha.
The Iraqi political analyst, Muhammad Ali Al-Hakim, stressed that any government born without the “Sadr movement” will be “lame,” noting that “the withdrawal of the Sadrist movement from parliament put the coordination framework in a critical situation, so the Sadrist movement cannot exit without a pre-prepared scenario. ».
In statements, Al-Hakim expected that the next few days would be full of surprises, and that the next Friday prayer would be a clear message and challenge to the "coordination framework."
On the other hand, the "coordinating framework" is expected to announce after the Eid al-Adha holiday the end of political talks to form the new government.
Deputy Zainab al-Moussawi, a member of the Coordination Framework, said that after the Eid, the end of the talks to form the new government would be announced, stressing that the names proposed to take over the prime minister's office are important.
She pointed out that "there is no scenario to go to new elections, as discussions are in full swing within the coordination framework and with some other blocs to come up with a new formula that crosses Iraq to safety.
Maliki's coalition talks about the solution to approve the new financial budget
A member of the State of Law coalition, Jawad Owais, stressed today, Sunday, the need to expedite the formation of the government in order to .approve the budget
Owais told (Baghdad Today), "Many projects are suspended due to the failure to approve the general budget for the year 2022, as the Food Security Law addressed a small part of the economic problems," noting that "the budget is dependent on the ".formation of the new government
Owais called "all political blocs to renounce differences and expedite the formation of the government because the country is going through an exceptional situation and is ".suffering from economic and political problems
He continued, "The leaders of the blocs are conducting intensive dialogues in order to expedite the formation of a strong government capable of moving the country to ".safety
A member of the Kurdistan Democratic Party, Dilshad Shaaban, had . expected today, Sunday, a political breakthrough after Eid al-Adha Shaaban told (Baghdad Today) that "it is expected that there will be a breakthrough in the political scene, specifically between the two Kurdish parties," adding that "the Democrat has a desire for dialogue and negotiation and to end the file of the Presidency of the Republic and the dispute over it, and to resolve the position ". quickly, and we expect a breakthrough after the Eid holiday
He continued, "From this aspect, the National Union expected that the post of ". President of the Republic would be quickly resolved after the Eid holiday
And earlier yesterday, Saturday, the Patriotic Union of Kurdistan confirmed that negotiations to resolve the position of the President of the Republic are about to . start
The leader of the Union, Ghiath Al-Sorji, told (Baghdad Today), that "the next few days, official negotiations will start between the Patriotic Union of Kurdistan and the ." Kurdistan Democratic Party to resolve the position of the President of the Republic Al-Sorji indicated that "there are signs of hope to resolve the position of the president of the republic between the Patriotic Union of Kurdistan and the Kurdistan Democratic Party through agreement and consensus between the two parties, and this is what it will reveal about the results of the expected negotiations in the coming ." days
Al-Maliki again.. the rule of law talks about the option of the current stage of government management
Today, Sunday, the State of Law coalition confirmed its choice to take over the head .of the coalition, Nuri al-Maliki, to run the government in the coming period
The leader of the coalition, Abbas Al-Maliki, told (Baghdad Today) that "there is a program being prepared from the coordination framework of the next government, that is, the government program that the Prime Minister-designate will present to ".Parliament when his government is passed
He added that "the program includes several security, political and economic points, and it will be distributed to the framework and the rest of the components, and they will be informed that al-Maliki is the most appropriate to implement this program as .prime minister
He continued, "There is another personality who can implement this program, then we can respect the partners' choice and choose another personality capable of ".skipping the stage
What are the reasons for the delay in forming the Iraqi government?
The Sadrist Movement's Saraya al-Salam official: The enemies of the national majority will see an unparalleled show
He will see the enemies of religion and humanity, the enemies of the national majority, the enemies of those who want to provide services, they will see a devotional parade like no other since the establishment of Friday until today.
this.
#By our worship _ we win || |||||
Allah
An Expert Explains The Most Prominent Economic Damage To The Food Security Law
The economic expert, Nabil Al-Ali, explained, on Sunday, the most prominent economic damages expected during the implementation of the Emergency Food Security Support Law.
Al-Ali said, in a statement to / the information /, that "the food security law recently approved by the House of Representatives carries many damages in the economic field, the most prominent of which may be; Inflation of prices, and inflation of real estate prices in the first place.”
He added, "The other damages are represented in the rise in dollar prices locally due to the pressure and demand for the dollar, in addition to the Central Bank's forced to increase the exported monetary mass to keep pace with the expected volume of government spending."
The expert stressed that “food security will represent a supplementary supplement to the budget, as the government has already gone ahead with a spending plan that will reach 125 trillion at the end of the year, to which (another 25 trillion or more) will be added within the food security law, so the annual spending will be close to or more than 150 trillion. “
Adviser to the Prime Minister explains the reasons for the fluctuation of oil prices and his expectations regarding them
Mazhar Muhammad Salih told {Euphrates News} that "the fluctuation of oil prices downward during the recent period has a number of reasons, the most prominent of which is the continuation of the Russian-Ukrainian war, and the other is the decline of the global industrial sector."
He added, "In the whole world, we find there is a decline in global industries and economies that depend on oil as their main source of energy, so this decline will not be permanent and will not return to those levels that were in the past."
Over the past few days, oil prices witnessed volatile transactions, heading towards incurring weekly losses, with continued fears of a slowdown in demand due to a possible recession, which outweighed the impact of the lack of supplies.
Central banks around the world are raising interest rates to control inflation, which reinforces fears that lending costs may impede growth, while increasing fears of possible new closures that may undermine oil demand after the increase in infections with “Covid-19”
Minister of Electricity: Iraq has paid all the debts owed to Iran, and this summer will be the best in supplying energy
Karim said, in a televised statement, "This summer will be better than last summer in supplying electrical energy, and so far the network is stable and daily additions come, and there is an increase in demand for energy by more than 20% compared to last year."
He added, "It is hoped that there will be an increase in the rate of supply to 23,000 megawatts," noting "Iran's gas entitlements to the previous government, which are accumulations and were paid in full shortly before, amounting to one billion and 640 million dollars."
Karim continued, "Iraq receives 42 million cubic meters of Iranian gas per day, and there is another agreement with the Iranian side to supply Iraq in principle with 400 megawatts, divided into 200 megawatts towards Basra and 200 megawatts toward Diyala."
He stressed, "The need for 15 new megawatts to continue supplying energy to citizens for 24 hours, so we still need Iranian gas," revealing:
The Minister of Electricity continued, "The Ministry of Oil failed to supply gas to the electric stations, and the main problem in the electricity file is the lack of fuel," stressing "Iraq's need for financial support to reach the production of 35,000 megawatts
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