WOTS WED JUL 6
The new issue of the Iraqi Gazette (4681) was issued on July 4
These are the articles I discussed on the My FX Buddies Podcast:
I translated the first 5 pages I don't believe there is a rate
The new issue of the Iraqi Gazette (4681)
The new issue of the Iraqi Gazette (4681) was issued on July 4,
2022
Law of Emergency Support for Food Security and Development No. 2 of 2022.
- Instructions for maintaining documents in the Ministry of Defense No. (1) of 2022.
- Instructions No. (1) of 2022 "facilitating the implementation of the Ministry of Youth and Sports Law" No. (25) of 2011.
To download the issue, click here
Those wishing to acquire a copy of the Iraqi Gazetteer can refer to the Iraqi Gazetteer Department located in Al-Salihiya / Haifa Street (Ministry of Justice Building), and obtain the required number.
I don't see a rate so far
First page translated as
______________________________
4/7/2022 (1) 4681 Issue - Al-Iraqiya Al-Waqa'a
Regulations
In the name of the people
Presidency
Based on what was approved by the House of Representatives in accordance with the provisions of Clause (First) of Article (61) and Clause (Third) of
Article (73) of the constitution.
Issuance of the following law:
No. 2 (for the year 2022
Law
Emergency support for food security and development
Article -1- The Ministry of Finance shall establish an account called (Supporting Food Security, Development and Precautions).
financial and poverty alleviation), it is called for the purposes of this law the name (the account).
Article 2 – The account is to be paid for, and for an amount not exceeding (000,25,000,000,000 (dinars)
(Twenty-five trillion dinars) from the following sources:
First: The money in the accounts of the Ministry of Finance in excess from the total amounts
Expenses stipulated in Article (13) of the Federal Financial Management Law
No. (6 (for 2019) amended) on a monthly basis and not to exceed fiveѧ
Twenty trillion dinars for the year 2022.
Second: Grants, subsidies, aid, and financial and in-kind donations provided by countries
and local and international organisations.
Third: Any other sources.
Article 3 – First: An amount of (25,000,000,000,000) Dinars shall be allotted.
(Twenty-five Trillion Dinars) Approved by the Ministry of Finance and distributed
According to schedules (a) and (b) attached to the law.
Second: An amount of 8,000,000,000,000 (Dinars) is allotted.
(Eight trillion dinars) out of the allocations referred to in the item (first).
pg 2
From this article and according to Table (B) attached to this law for reconstruction and development
Projects in governorates that are not organized in a region are distributed according to percentage
Population and poverty line for each governorate, and for each governorate, prepare the governorate plan.
The districts and sub-districts and send them to the Federal Ministry of Planning for the purpose of studying them
Those who are approved must take into account the most affected areas within the governorate.
The governor shall implement the approved reconstruction plan.
Third: Thirty (30%) of the one hundred percent of the allocations to the governorates of Baghdad is allocated.
To the Municipality of Baghdad, this percentage is financed from each financing installment from the allocation of funds.
Baghdad province.
Article -4- The disbursement from the account takes place as an exception to the provisions of Article 13 (of the Law of Administration).
Federal Finance No. 6 (for the year 2019) amended.
Article 5 – First: The Minister of Finance, with the approval of the Council of Ministers, may continue to borrow from the inside or outside the country
abroad to finance ongoing development projects financed by loans
Approved in the previous federal general budget laws without ѧentry
With a new contract.
Second: All loans mentioned in item (First) of this article and contracts.
The projects covered are exempt from taxes and customs duties.
Article 6 – Ministries, agencies not affiliated with a ministry, and governorates may accept grants and donations from
Governments, foreign institutions, or the private sector, provided that they are registered or restricted.
Its prices are final revenue to the public treasury and are being reallocated for the purposes of
awarded for it.
Article 7 - The Federal Ministry (Finance and Planning) shall undertake the inclusion of what has been allocated in accordance with the provisions of this Article.
I govern this law on a yearly basis within the draft general budget law.
Federal.
page 3
From this article and according to Table (B) attached to this law for reconstruction and development
Projects in governorates that are not organized in a region are distributed according to percentage
Population and poverty line for each governorate, and for each governorate, prepare the governorate plan.
The districts and sub-districts and send them to the Federal Ministry of Planning for the purpose of studying them
Those who are approved must take into account the most affected areas within the governorate.
The governor shall implement the approved reconstruction plan.
Third: Thirty (30%) of the one hundred percent of the allocations to the governorates of Baghdad is allocated.
To the Municipality of Baghdad, this percentage is financed from each financing installment from the allocation of funds.
Baghdad province.
Article -4- The disbursement from the account takes place as an exception to the provisions of Article 13 (of the Law of Administration).
Federal Finance No. 6 (for the year 2019) amended.
Article 5 – First: The Minister of Finance, with the approval of the Council of Ministers, may continue to borrow from the inside or outside the country
abroad to finance ongoing development projects financed by loans
Approved in the previous federal general budget laws without ѧentry
With a new contract.
Second: All loans mentioned in item (First) of this article and contracts.
The projects covered are exempt from taxes and customs duties.
Article 6 – Ministries, agencies not affiliated with a ministry, and governorates may accept grants and donations from
Governments, foreign institutions, or the private sector, provided that they are registered or restricted.
Its prices are final revenue to the public treasury and are being reallocated for the purposes of
awarded for it.
Article 7 - The Federal Ministry (Finance and Planning) shall undertake the inclusion of what has been allocated in accordance with the provisions of this Article.
I govern this law on a yearly basis within the draft general budget law. Federal.
page 4
Article 8 – The Fund for the Reconstruction of Areas Affected by Terrorist Operations continues.
The Dhi Qar Governorate Reconstruction Fund.
Article 9 - The ministries (Finance and Planning) are obligated to launch disbursement and financing expenditure units, for all
The assignments mentioned in this law (and according to the attached tables) provided that they
The Ministry of Finance and the spending units shall record the remaining amounts that were funded and not disbursed
Why was it financed from the allocations set out in this law to account for the deposits to be completed?
Continue spending for the following year.
Article 10 - The Ministry of Planning is obligated not to exceed the costs of all projects that will be listed on the
The ceiling of the financial allocations for each spending unit and as prescribed for it in this law.
Article 11 - Allocation of a proportion (50 (fifty percent) of one hundred percent of the revenues of the border outlets
The governorates, including the governorates of the Kurdistan Region, in which these ports are located
These sums are allocated to provide services to the governorate or to implement investment projects or projects.
Operational or financing of ongoing projects in the governorate or the reconstruction of border crossings in
Each governorate as of 1/1/2022.
Article 12 - Continuing to finance ongoing projects based on completed work or
Actual preparation of the project after making sure that cash is available, as an exception to the provisions
Financial Management Law No. 6 (of 2019) amended.
Article 13- First: Payment of government debts owed by farmers will be deferred for a period of two years.
and those farmers who wish to postpone the repayment of loans and those who do not increase their loans
Over (400,000,000 (Four Hundred Million Dinars) from bank loans
Agricultural and agricultural initiative in all governorates of Iraq and not to download these
The debt has no interest during the deferment period.
Second: The payment of government debts owed by the beneficiaries of the beneficiaries will be postponed for a period of two years
Social protection loans.
page 5
Article 14 - The Diguan shall undertake the financial supervision of the Federal Government to submit a quarterly report on spending
For this law to the House of Representatives.
Article 15 - Contracting with certificate holders (bachelor and diploma) and all specializations for work
In the governorate departments and their local administrations, for governorates that are not organized in their regions, in fact.
1000 (contracted to each governorate and a monthly salary of the amount of 300,000 (three hundred thousand)
Dinars per month for one contractor for a period of three years for training and development purposes.
Article 16 - The Ministries of Finance and Planning shall issue instructions for the implementation of this law as a whole.
Jurisdiction.
Article 17 - Transfers may not be made between chapters, paragraphs, and assignments listed in this
The law also may not make transfers between the allocations of the provinces.
Article 18 - First: The Ministry of Finance is obligated to finance all the allocations mentioned in Table A.
Attached to the law to secure the food, electricity, and lecturers sectors.
and administrators, contracts, wages, holders of higher degrees, and graduates from
The first and invalidated their contracts from the security and military services.
Second: The Ministry of Finance is obligated to finance 50% (fifty percent of the allocations
Listed in Table (B) attached to the law for each paragraph.
Third: This law shall be published in the Official Gazette and shall be implemented from the date of its vote.
And its approval in the House of Representatives on 6/8/2022, and the current government will evaluate it.
By taking the necessary measures to implement the two items (first and second) of this article.
In a manner that does not conflict with the Constitution and is in harmony with the decision of the Federal Court No.
(121) (Federal for the year 2022, and the next government will complete implementation measures
Paragraphs of the law and the financing of the rest of the paragraphs in the law and the two tables (a, b).
What did the US Senator Graham tell the Iraqi officials in his meeting with them during the past two days?
US Senator Lindsey Graham stressed that Iraq is the most important strategic partner of the United States in the region.
A statement by the US embassy in Baghdad stated, "US Senator Lindsey Graham visited Iraq on the fourth and fifth of July to meet with senior Iraqi government officials and discuss political, economic, humanitarian and security cooperation with the Government of Iraq and the Kurdistan Regional Government."
He pointed out that "Senator Graham, accompanied by the US Ambassador to Iraq, Alina Romanowski, met in Baghdad on the fourth of July with Prime Minister Mustafa Al-Kazemi, with Iraqi President Barham Salih, as well as with Speaker of Parliament Muhammad Al-Halbousi, and on the fifth of July, Senator Graham and Ambassador Romanowski met with President Kurdistan Region of Iraq, Mr. Nechirvan Barzani in Erbil.
The statement continued, "In his meetings, Senator Graham expressed his support for the US strategic priorities in Iraq: promoting stability and economic growth, strengthening democracy and governance, and ensuring security and sovereignty."
The senator reiterated, according to the statement, "his country's commitment to Iraq as one of the most important strategic partners of the United States in the region, and highlighted the importance of strengthening democracy in Iraq. He also reviewed the efforts of the United States to strengthen the relationship between the United States and Iraq under the Strategic Framework Agreement, including from Through humanitarian aid, stabilization, economic cooperation, anti-corruption efforts, human rights protection, women’s empowerment, and academic and cultural exchanges.
Iraq .. the contribution of oil to the budget amounted to 96%, and the surplus was 21 billion dollars within a month
The Ministry of Finance issued the Iraqi state accounts for the month of May for the fiscal year 2022, which indicated that the contribution of oil to the federal budget is still high, reaching 96%, while the government attributed this to zero customs and high oil prices. At the same time he warned of its danger.
Shafaq News Agency followed the data and tables issued by the Ministry of Finance in the current month of July for the accounts of last May, which indicated that oil is still the main resource for Iraq's general budget, reaching 96%, which is the same percentage for the month of last April, which confirms that the rentier economy is the basis in the budget Iraq General.
Through the financial tables, it is clear that the total oil revenues for the month of May amounted to 59 trillion and 785 billion and 819 million and 356 thousand and 654 dinars, which represents 96% of the total revenues, while the total non-oil revenues amounted to two trillion and 432 billion and 775 million and 493 thousand and 926 dinars, which constitutes 4% of the total revenues, while the total oil and non-oil revenues amounted to 62 trillion and 218 billion and 594 million and 850 thousand and 580 dinars, which is 95% higher than the same period last year 2021, which amounted to 31 trillion and 917 billion and 236 million dinars as a result of high oil prices.
According to the finance report, the revenues for the month of last May came from the current revenues represented by oil revenues and mineral wealth, amounting to 59 trillion, 489 billion and 48 million and 396 thousand and 722 dinars, and they came from taxes on income and wealth at the rate of 574 billion and 774 million and 723 thousand and 503 dinars, and they also came from Commodity taxes and production fees amounted to 413 billion and 30 million and 36 thousand and 822 dinars and also came from fees that amounted to 479 billion and 131 million and 96 thousand and 127 dinars and from the share of public sector profits amounting to 352 billion and 741 million and 60 thousand and 477 dinars and transfer revenues that amounted to 453 billion and 205 million And 204 thousand and 609 dinars and from other revenues by 427 billion and 362 million and 400 thousand and 503 dinars.
It also came from capital revenues, which amounted to 29 billion and 301 million and 607 thousand and 817 dinars.
Accordingly, the actual surplus for the month of May amounted to 21.834 trillion dinars.
For his part, financial expert Hilal Al-Tahhan considered in an interview with Shafaq News Agency, "The high contribution of the oil sector in the federal budget is considered normal in the case of Iraq for its rentier economy dependent on oil to obtain hard currency and neglect the rest of the other economic sectors."
He added that any country that pursues a rentier economy, such as the case of Iraq, is a serious matter because the country's economy is linked to international oil prices and what these prices face from market fluctuations, pointing out that "what we are witnessing today of rising oil prices may not be witnessed at all in the coming years with the direction of countries the world to decarbonize and use clean energy.
The Prime Minister's Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March of the year 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.
And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes the country at risk of global crises that occur from time to time because oil is affected by 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.
A deputy reveals the secrets of selling contracts for the Chinese agreement
Member of Parliament Ali Turki revealed, today, Tuesday, the secrets of corruption in the sale of contracts of the Chinese agreement, indicating .that it has become the most prominent door to corruption
Turki told (Baghdad Today), "The agreement signed by former Prime Minister Adel Abdul-Mahdi with China, which includes reconstruction in exchange for oil, is valid and is being implemented at the present time, as nearly 100,000 barrels are ".deposited in an account designated for dealing between Iraq and China
He added, "There is no governmental follow-up to the mechanisms of working with the agreement, as it has become a resource for rampant corruption in the country," noting that "the first item of the Chinese agreement that has been implemented is building schools, as school building projects have been sold more than once due to lack of Scrutinizing the issue of the companies executing the project, as they are not government companies affiliated with the Chinese government, but are Chinese .private companies He pointed out that "these companies traded the sale of school contracts that they ".obtained from the Iraqi government, which led to corruption in this file
Al-Halbousi and Al-Amiri discuss political developments and the completion of the constitutional entitlements
Parliament Speaker Muhammad al-Halbousi discussed with the head of the Al-Fateh Alliance Hadi al-Amiri, on Wednesday, the political developments and the completion of the constitutional entitlements.
The Parliament Speaker's office said in a statement received by Mawazine News that "the Speaker of Parliament, Muhammad al-Halbousi, received the head of the Al-Fateh Alliance, Hadi al-Amiri."
According to the statement, the meeting discussed the "developments of the political situation in the country, and the completion of the constitutional obligations."
State Of Law: Maliki's Nomination Is A Coalition Desire, Not A Framework
leader of the State of Law coalition, Jassem Al-Bayati, confirmed, on Wednesday, that the announcement of the nomination of former Prime Minister Nuri al-Maliki was at the level of the coalition and not at the level of the coordination framework.
Al-Bayati said in a statement to "Information", that "the coordination framework was set in a previous meeting of its leaders, specifications and criteria for the next prime minister, and during a special meeting of the State of Law coalition, the name of its president was discussed through the desire of its members, as long as those specifications and criteria apply to the person of al-Maliki, and everyone agreed to address the stage." coming.”
He added that "the announcement of al-Maliki's candidacy was at the level of the coalition and not at the level of the coordination framework as promoted by some media for the purpose of mixing papers," stressing that "the coalition did not officially present or send the name of al-Maliki as a candidate for prime minister to the leaders of the framework for a moment and perhaps it will be presented during the meetings. In the future, the issue of discussing the names of candidates for the position will be determined.”
And the spokesman for the victory coalition, Ahmed Al-Wondi, confirmed in a previous statement to "Al-Maalouma", that the coordination framework is keen to resolve the agreement on naming the next prime minister before or immediately after the blessed Eid al-Adha.
Prime Minister Mustafa Al-Kadhimi receives the German ambassador to Iraq
Prime Minister Mustafa Al-Kadhimi receives the German ambassador to Iraq
••••••••••
Today, Wednesday, Prime Minister Mustafa Al-Kadhimi received the German ambassador to Iraq, Martin Jaeger.
During the meeting, they discussed bilateral relations between the two friendly countries, and ways to develop joint cooperation in the common interest, as well as security cooperation in the field of combating terrorism, rebuilding liberated areas, and supporting Iraqi state institutions with expertise and capacity building.
The meeting witnessed discussions on strengthening the partnership between Iraq and Germany in the economic and investment fields, and cultural exchange, as well as following up on the affairs of Iraqi citizens on scholarships for treatment in German hospitals and treatment centers.
The German ambassador expressed his appreciation for the Iraqi government's efforts in the field of reconstruction, addressing the effects of climate change and reliance on renewable energy, as he particularly appreciated the direct interest of the Prime Minister to complete the projects of the German company Siemens in Iraq within the energy and electricity sector.
Media Office of the Prime Minister
July 6, 2022
Frightening" economic recession hits Iraqi markets ahead of Eid al-Adh
With the approach of Eid al-Adha, the Iraqi markets are suffering from a noticeable stagnation, due to the economic crisis and its repercussions on the local market, as well as the absence of the state's financial budget, 7 months after 2022.
Usually, Iraqi markets and commercial centers were crowded at such a time with shoppers, who seek to buy clothes and food processing for the manufacture of sweets and others, but with the economic crises that hit the country, this holiday is not like a previous one.
This holiday represents a new challenge for the poor and low-income class, as the Russian-Ukrainian war has cast a shadow over them, due to the high prices of basic materials, such as flour, rice and vegetable ghee, as these two countries are considered one of the largest sources of food in the world.
The economic and social conditions and the high cost of living as a result of the high exchange rate of the dollar against the Iraqi dinar have also contributed to a decrease in the purchasing power of many segments of society, in the face of a continuous stagnation that local markets have been witnessing for months.
This is what the citizen "Umm Ali" noticed, when she toured the markets of the capital, Baghdad, where she said, "Citizens' turnout to the markets is weak, as most families began to implement austerity measures."
"Umm Ali" told Shafaq News Agency, "The application of these methods came due to the lack of financial returns for families due to the lack of job opportunities, as well as the reduction in workers' wages. For example, I used to buy new clothes for my children every Eid, but now the situation is different, so I did not buy anything for this." Eid".
As for Ali Karim from Maysan Governorate (southern Iraq), he stated that "most of the Maysanian families suffer from a lack of monthly income, not to mention the families that depend on social welfare salary or subsidy only."
Karim added to Shafak News Agency, "And therefore this was reflected on the purchasing power of citizens, especially with the approaching days of Eid al-Adha, which we were eager for such occasions, but the current economic conditions prevented this joy."
This crisis also has a political aspect. The political stalemate in Iraq has caused delays in approving the annual budget for 2022, amid expectations that new economic crises will emerge if this delay continues, according to observers.
They believe that the current economic situation is the result of the accumulation of previous governments, and its treatment is to create an environment that attracts investment and develops the industrial and agricultural sectors.
In this regard, Osama Al-Badri, a member of the Parliamentary Investment Committee, said, "The economic situation in the country is very bad, as a result of accumulated neglect borne by previous governments."
Al-Badri, who is also the head of the Sabean-Mandaean Parliamentary Bloc, told Shafaq News Agency, "We have a tripartite plan to address the bad economic situation and work on it will be after the formation of the new government, and investment is very important in advancing the economic reality and employing manpower, and we will try to restore the suspended factories and laboratories." ".
The delay in approving the financial budget due to political differences and the failure to form the Iraqi government, cast a shadow over large segments of society, especially the fragile and daily wage-working classes in the field of investment projects, as most of those projects stopped or lingered, which expanded the scope of that class, which found it difficult to equip Eid al-Adha supplies.
In addition to the budget, the lack of water resources has caused a low economic level for many citizens after the loss of their agricultural crops and the death of their livestock, according to the head of the oil and gas economics department at Imam Jaafar Al-Sadiq University, Dr. Hassan Rashk Al-Tamimi.
Al-Tamimi confirmed to Shafaq News Agency, "All these reasons caused this suffocating economic stagnation, and the migration of people from villages and rural areas to cities to search for new sources of income contributed to the rise in prices, which crowded this market, which is already suffering from a lack of jobs."
The Associate Dean of the College of Administration and Economics at the University of Maysan, Dr. agrees with this proposition. Maan Abboud Ali, who said that "the economic stagnation comes due to unemployment and a lack of jobs."
In his interview with Shafaq News Agency, Ali indicated that "the Iraqi governorates suffer from very large unemployment, which may reach 30%."
In the midst of these challenges, the Iraqi government has, for years, adopted a social welfare system to help the groups most in need of support, such as the elderly, divorced women, widows and the unemployed.
Under this system, more than 1.6 million Iraqis were included until 2021, receiving material support ranging from $70 to $170 per month.
Official figures say that the poverty rate in Iraq has exceeded 22.5 percent, but international and non-governmental organizations speak of higher rates.
In turn, the spokesman for the Ministry of Planning, Abdul-Zahra Al-Hindawi, announced the development of a new 5-year plan, which aims to reduce the poverty rate to 15-16 percent in the coming years.
The poverty level may reach 10 percent or less, until the end of the Ministry's plan for sustainable development in 2030.
Special source: The coordination framework asks the National Union to waive the candidacy of Barham Salih
A political source said that the coordinating framework forces may ask their ally the Patriotic Union of Kurdistan to change its candidate for the presidency, Barham Salih, against the background of objections from the Sadrist movement, the Kurdistan Democratic Party and some independents.
The source indicated to (Iraq Today), that "the Union will resolve this file during the next few days, and may push the former Minister of Water Resources, Abdul Latif Jamal Rashid, as a compromise candidate between him and the Kurdistan Democratic Party."
In this context, the Patriotic Union of Kurdistan revealed the existence of pressure from the coordination framework in order to resolve the Kurdish forces' exit with one candidate.
"The next two days will witness the resumption of dialogue with the Democratic Party regarding the position of President of the Republic," said the leader of the Union, Ahmed Al-Harki.
He added, "The Union is pushing for one candidate to enter the parliament, as well as other moves made by the leaders of the coordination framework on the Union and the Democratic Party for the purpose of deciding one candidate for the presidency as a representative of the Kurdish House.
" For the purpose of passing it in Parliament, it is expected that the coming days will witness a real dialogue and it is possible to resolve the issue of the presidency."
Below here is the WOTS for the day "Word on the Street" report:
List of the Iraqi dinar exchange rate against the dollar on the Iraqi Stock Exchange for today, Wednesday (July 6, 2022), according to specialists.
Baghdad - the stock exchange
148,350
—-
The price is in most Baghdad exchanges
147,750
148,750
——————
Basra - Bursa
148,400
———————-
Erbil - Bursa
148,325
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1435.0000 |  1493.4000 | 1457.1000 | 1455.5000 | 1455.5000 | -0.1000 | 06:06 |
| USD/VND | 23373.0000 | 23383.0000 | 23358.0600 | 23342.9400 | 23342.9400 | 16.8200 | 05:04 |
| USD/CNY | 6.7037 | 6.7057 | 6.7194 | 6.7014 | 6.7194 | -0.0158 | 05:12 |
| USD/KWD |  0.3068 | 0.3078 | 0.3069 | 0.3068 | 0.3069 | -0.0001 | 04:52 |
| GBP/USD | 1.1929 | 1.1930 | 1.1989 | 1.1911 | 1.1954 | -0.0026 | 05:12 |
| USD/IRR | 42100.0000 | 42600.0000 | 42378.5000 | 42358.6000 | 42378.5000 | 29.3000 | 11:44 |
| USD/IDR | 15023.0000 | 15031.0000 | 15044.0000 | 14994.0000 | 15013.0000 | 11.0000 | 05:12 |
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Iraq .. the contribution of oil to the budget amounted to 96%, and the surplus was 21 billion dollars within a month
The Ministry of Finance issued the Iraqi state accounts for the month of May for the fiscal year 2022, which indicated that the contribution of oil to the federal budget is still high, reaching 96%, while the government attributed this to zero customs and high oil prices. At the same time he warned of its danger.
Shafaq News Agency followed the data and tables issued by the Ministry of Finance in the current month of July for the accounts of last May, which indicated that oil is still the main resource for Iraq's general budget, reaching 96%, which is the same percentage for the month of last April, which confirms that the rentier economy is the basis in the budget Iraq General.
Through the financial tables, it is clear that the total oil revenues for the month of May amounted to 59 trillion and 785 billion and 819 million and 356 thousand and 654 dinars, which represents 96% of the total revenues, while the total non-oil revenues amounted to two trillion and 432 billion and 775 million and 493 thousand and 926 dinars, which constitutes 4% of the total revenues, while the total oil and non-oil revenues amounted to 62 trillion and 218 billion and 594 million and 850 thousand and 580 dinars, which is 95% higher than the same period last year 2021, which amounted to 31 trillion and 917 billion and 236 million dinars as a result of high oil prices.
According to the finance report, the revenues for the month of last May came from the current revenues represented by oil revenues and mineral wealth, amounting to 59 trillion, 489 billion and 48 million and 396 thousand and 722 dinars, and they came from taxes on income and wealth at the rate of 574 billion and 774 million and 723 thousand and 503 dinars, and they also came from Commodity taxes and production fees amounted to 413 billion and 30 million and 36 thousand and 822 dinars and also came from fees that amounted to 479 billion and 131 million and 96 thousand and 127 dinars and from the share of public sector profits amounting to 352 billion and 741 million and 60 thousand and 477 dinars and transfer revenues that amounted to 453 billion and 205 million And 204 thousand and 609 dinars and from other revenues by 427 billion and 362 million and 400 thousand and 503 dinars.
It also came from capital revenues, which amounted to 29 billion and 301 million and 607 thousand and 817 dinars.
Accordingly, the actual surplus for the month of May amounted to 21.834 trillion dinars.
For his part, financial expert Hilal Al-Tahhan considered in an interview with Shafaq News Agency, "The high contribution of the oil sector in the federal budget is considered normal in the case of Iraq for its rentier economy dependent on oil to obtain hard currency and neglect the rest of the other economic sectors."
He added that any country that pursues a rentier economy, such as the case of Iraq, is a serious matter because the country's economy is linked to international oil prices and what these prices face from market fluctuations, pointing out that "what we are witnessing today of rising oil prices may not be witnessed at all in the coming years with the direction of countries the world to decarbonize and use clean energy.
The Prime Minister's Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March of the year 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.
And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes the country at risk of global crises that occur from time to time because oil is affected by 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.
What did the US Senator Graham tell the Iraqi officials in his meeting with them during the past two days?
US Senator Lindsey Graham stressed that Iraq is the most important strategic partner of the United States in the region.
A statement by the US embassy in Baghdad stated, "US Senator Lindsey Graham visited Iraq on the fourth and fifth of July to meet with senior Iraqi government officials and discuss political, economic, humanitarian and security cooperation with the Government of Iraq and the Kurdistan Regional Government."
He pointed out that "Senator Graham, accompanied by the US Ambassador to Iraq, Alina Romanowski, met in Baghdad on the fourth of July with Prime Minister Mustafa Al-Kazemi, with Iraqi President Barham Salih, as well as with Speaker of Parliament Muhammad Al-Halbousi, and on the fifth of July, Senator Graham and Ambassador Romanowski met with President Kurdistan Region of Iraq, Mr. Nechirvan Barzani in Erbil.
The statement continued, "In his meetings, Senator Graham expressed his support for the US strategic priorities in Iraq: promoting stability and economic growth, strengthening democracy and governance, and ensuring security and sovereignty."
The senator reiterated, according to the statement, "his country's commitment to Iraq as one of the most important strategic partners of the United States in the region, and highlighted the importance of strengthening democracy in Iraq. He also reviewed the efforts of the United States to strengthen the relationship between the United States and Iraq under the Strategic Framework Agreement, including from Through humanitarian aid, stabilization, economic cooperation, anti-corruption efforts, human rights protection, women’s empowerment, and academic and cultural exchanges.
Official source: Negotiations to form the government are suspended until after Eid
The official of the fifth branch of the Kurdistan Democratic Party in Baghdad announced that negotiations on forming the new Iraqi government are suspended until after Eid al-Adha.
And the official of the fifth branch of the Kurdistan Democratic Party, Shwan Muhammad Taha, stated that the delegation of the Democratic Party is present and will remain in Baghdad, while the meetings between the political parties on forming the new government have stopped until after the Eid.
On the rapprochement between the Democratic Party and the coordination framework for the formation of the government, Shawan Muhammad Taha said, "The proximity or distance of the Democratic Party from any party or alliance is linked to the implementation of the demands of the Kurdistan region."
CBI Update: Just a note:
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