Ninth in the world.. How much is the market value of Iraq's wealth estimated?
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, estimated, on Saturday, the market value of Iraq's resources and their sequence at the level of the countries of the world.
Saleh said, in a statement to the official agency, which was seen by Al-Maaloumah, that "Iraq is one of the most important countries in the world, if not at the forefront of nations rich in natural resources or raw materials within the scope of the international classification of resources on the globe."
He added, "Iraq is in the (ninth) sequence among the priority of countries in the world that possess natural diversity and economic quantities in the capacity of raw material reservoirs that can be manufactured and exported or national industrial use."
And Saleh continued: "As the circles estimate that the market value of those raw wealth in our country may exceed 15 trillion dollars at the current value, compared to about 45 trillion dollars for the United States of America, which is (the second) globally, and 75 trillion dollars for the Russian Federation, which is (the first) globally."
Advisor to the Prime Minister: The market value of Iraq's raw wealth exceeds $15 trillion
Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified a theory to maximize Iraq's revenues through its natural resources, and while he confirmed that Iraq ranks ninth in the world with its resources, he indicated that the market value of Iraq's raw wealth exceeds 15 trillion dollars.
Saleh said, in an interview with the official agency: “Iraq is one of the most important countries in the world, if not at the forefront of nations rich in natural resources or raw materials within the scope of the international classification of resources on the globe, as Iraq takes the (ninth) sequence among the priority of countries in the world that possess Natural diversity and economic quantities in the capacity of raw materials reservoirs capable of manufacturing and export or national industrial use.
He added: "As the circles estimate that the market value of those raw wealth in our country may exceed 15 trillion dollars at the current value, compared to about 45 trillion dollars for the United States of America, which is (the second) globally, and 75 trillion dollars for the Russian Federation, which is (the first) globally."
And he continued: “And when taking into account the historical experience in development, which is represented today by the development of an important international group of economies called (raw or basic material countries), which relied in their economic development and development on the manufacture and export of natural resources, Canada, Australia and New Zealand come at the forefront today, The thesis (raw or basic materials) comes in economic development, and it is one of the theories of export-led growth.
He pointed out that "the theory of export-led growth has its origins in research in social, political and economic history that was conducted specifically in Canadian universities by researchers of what were known as political economy departments, and among these groups of researchers was the economist Harold Ennis, Mackintosh and others, among the most prominent." researchers who took this approach.
And he added, "Therefore, we find that our country carries a unique model of economic development that puts it in the ranks of developed nations, and development can proceed strongly from the theory of manufacturing raw or natural materials in our country and exporting it to lead development," pointing out that "the natural resources that the economic model may work on Al-Iraqi for Development is represented by manufacturing raw exports with dozens of exploitable natural resources, provided that manufacturing chains with high technologies are capable of generating internal manufacturing linkages, which is called (value-added chains generated from links or backlinks of inputs and outputs) within the national factory. Iraq, through which the process of manufacturing and manufacturing is maximized, and the added value flourishes before being exported as products, which serve as production inputs to world markets.
He stressed "the importance of Derayah's reflection on the prosperity of economic development and the growth rates required to be achieved, in light of the degree of development of material capital accumulation and its high value, or in terms of the growth of the gross domestic product of our country."
A rise in unemployment and an increase in poverty rates.. An economist indicates the risks of currency printing
Asher, the economic expert, Ahmed Saddam, today, Saturday, the dangers of currency printing.
Saddam stated to Earth News that “there is no economic feasibility in printing the currency to cover the budget expenses for the reason that the increase or printing of the currency will raise the level of the monetary mass and thus will cause a significant rise in the price level by virtue of the lack of current production capacity within the economy, meaning an increase in the monetary mass.” In exchange for the absence of real non-oil production in the commodity sectors, namely agriculture and the manufacturing industry.
He added, “This will translate into a rise in the price level, in other words, a rise in the level of inflation and a decrease in the value of the Iraqi currency. The interests in the private sector lead to the dismissal of a number of workers and reduce them by virtue of the weak purchasing power and thus the failure to achieve revenues that can employ a larger number of workers.
And that “these are all negative effects that may be left behind by resorting to printing a new currency in return for the lack of real production capacity, in addition to a lack of confidence in the Iraqi currency and in decisions, and this causes great economic confusion even at the level of the investment decision, which in the end affects the reality of the economy in a way very negative.”
Disclosure of the date of approval of the oil and gas law
link what a date!
Member of the Parliamentary Oil and Gas Committee, Intisar Al-Jazaery revealed, on Sunday, the date for approving the oil and gas law that regulates the export of natural resources, while confirming that the Kurdish parties, after passing many paragraphs, have surrendered to the fait accompli regarding the extraction and export of oil.
Al-Jazaery said in an interview with Al-Maalouma agency, "The Parliamentary Oil and Gas Committee is determined to approve the region's oil law immediately after the parliament's legislative recess," noting that "Iraq is exposed to great losses as a result of the continued disruption of Kurdistan's oil exports."
And she continued, "The adoption of the law will regulate the mechanism for exporting Kurdistan's oil through the National Oil Company (SOMO)," pointing out that "the Kurdish parties, after passing many paragraphs, have surrendered to the fait accompli regarding the extraction and export of oil."
And she added, "The government and the relevant authorities have not yet determined the port through which oil exports will resume. Is it the Ceyhan port, or the change to one of the other outlets?"
Member of the House of Representatives, Zahra Al-Bajari, had revealed, in an interview with Al-Maaloumah Agency, that the Kurdistan region continued to smuggle oil abroad in several alternative ways than it was in previous years, while she confirmed that wherever the money was found, there were files of corruption in the departments that support oil smuggling.
Al-Aqili: The oil and gas law is the country's safety valve
The political analyst Sabah Al-Ugaili considered, on Sunday, that approving the oil and gas law will be Iraq's safety valve in the next stage, while stressing that passing the law will work to end all crises that occur regarding the export of Kurdistan's oil.
Al-Aqili said in an interview with the information agency, "The approval of the law will redraw the road map for the distribution of wealth among all components," noting that "there is a preliminary agreement between the political blocs on the need to pass the oil and gas law in conjunction with the approval of the general budget law."
And he went on: "The parliament will work to create an atmosphere that precedes the agreement of the political forces to approve the oil and gas law," noting that "passing the law will work to end all crises that occur regarding the export of oil."
Regarding the importance of passing the law under the dome of parliament, Al-Aqili explains: "Voting on the oil and gas law will be the country's safety valve during the next stage," pointing out that "it will lead to work on removing many obstacles facing the work of governments or the movement of their formation."
A member of the Parliamentary Oil and Gas Committee, Intisar Al-Jazaery, confirmed in an interview with Al-Maalouma Agency, that "the Parliamentary Oil and Gas Committee is determined to approve the region's oil law immediately after the legislative recess of Parliament, adding that the Kurdish parties, after passing many paragraphs, have surrendered to the fait accompli." On the extraction and export of oil
Baghdad dollar after Eid.. Everyone is waiting for the opening price tomorrow, Monday, and the most expensive is in Mansour
Baghdad dollar after Eid.. Everyone is waiting for the opening price tomorrow, Monday, and the most expensive is in Mansour
The exchange rates of the US dollar witnessed stability at a high level against the Iraqi dinar, on the last days of the Eid al-Adha holiday, according to what was monitored by 964 network correspondents today, Sunday, in a number of .exchange companies and offices in different areas of the capital, Baghdad
Workers in exchange companies are awaiting the end of the Eid holiday and the return of the main stock exchanges in Al-Kifah Street in central Baghdad, which .closed since last week at the price of 147,450 dinars per 100-dollar note
:The exchange rates are as shown below
Harithia :A number of exchange companies Sells at 147,600 You buy at 146,500
Mansour :Exchange Company )Al-Yaman( Sells at 148,500 You buy at 146750
Kadhimiya :Al-Funjan Exchange Company Sells at 148,000 You buy at 146,500
Assadar City: You buy at 147,500 :A number of exchange companies Sells at 148,000 You buy at 147,000
Karrada : A number of exchange companies Sells at 148,000 You buy at 146,500
:Meridi Market Stock Exchange Sells at 148,000 You buy at 147,500 :
A number of exchange companies Sells at 148,000 You buy at 147,000
Saffron :A number of exchange companies Sells at 148,500 You buy at 146,000
Parliamentarian: The success of economic plans depends on ending US dictates
On Monday, the representative of the Sadiqun Parliamentary Bloc, Rafik al-Salhi, pledged the government's success in economic reforms by getting rid of American dictates, accusing the American side of working to sabotage the Iraqi economy by all means.
Al-Salihi said in an interview with Al-Maalouma agency, "The United States of America besieges the Iraqi economy and makes it surrounded by it and prevents its launch towards the major investment countries."
He added, "Iraq needs to strengthen economic sovereignty and not follow the United States in commercial transactions and giant investment projects."
He continued, "The American ruler of Iraq, Paul Bremer, turned Iraq into a rentier, consumerist and weak country with no production, no industry, no agriculture, in order to continue following America."
The head of the Federation of Iraqi Industries, Adel Akab, had called on the government to cancel the decisions of the Civil Coalition Authority of the American occupation that are unfair to the national industry, accusing Paul Bremer of encouraging the killing of the industry
Parliamentary Energy: Global Competition for Investment in Iraq
The Parliamentary Oil, Gas and Wealth Committee confirmed the competition of international companies to invest in Iraq.
Dhurgham al-Maliki, a member of the committee, told the Euphrates news agency that "all countries that seek to strengthen their economy have reached the world level through investment from international companies, and that Iraq today occupies the forefront in the possibilities of establishing, building and connecting."
He added, "The country today is going through a great economic situation through youth energies and financial abundance, as it can seek the help of international and local companies to establish any economic project."
He pointed out that "international companies are competing today to access investment in Iraq in all fields, and that the country is ready and has potential."
Next week, Iran will officially join the Shanghai Cooperation Organization
Russian Foreign Minister Sergey Lavrov announced, on Friday, that Iran will officially join the Shanghai Cooperation Organization next week, along with China, Russia and Central Asian countries.
"During the meeting of presidents on July 4, Iran's full membership will be approved," Lavrov said at the inauguration of the organization's center in Moscow.
The minister indicated that the meeting will also witness the signing of a memorandum of understanding regarding the “obligations” of Belarus, an ally of Russia, which is scheduled to “also launch a path for full accession” to the organization.
The Shanghai Organization was established in 2001 at the initiative of Russia, China and four countries in Central Asia: Tajikistan, Kyrgyzstan, Uzbekistan and Kazakhstan. India and Pakistan joined in 2017.
The Islamic Republic has been an observer member of the organization since 2005, and its last attempt to join it in 2020 failed as a result of Tajikistan's refusal at the time. However, the member states returned and agreed in September 2021 to join Tehran, which at that time began a series of procedures that required up to two years, for membership to become official.
Iran is also seeking to join the BRICS, which includes South Africa, Brazil, China, India and Russia.
The Russian announcement of completing the procedures for Iran’s accession comes at a time when the Islamic Republic is making diplomatic moves in various directions to ease tensions and Western restrictions on it, which included, in particular, opening up to Arab countries in the Gulf region, strengthening cooperation with countries in Asia, Central and South America, and re-establishing contact with European countries. After months of increasing tensions with it, leading to indirect talks with the United States, mediated by Oman.
Tehran's relations with Moscow have witnessed a convergence in the past months, after the Russian invasion of Ukraine in February 2022.
Russian President Vladimir Putin visited Tehran in the summer of that year, after Iranian President Ibrahim Raisi visited Moscow at the beginning of the same year.
Kiev and Western countries accuse Iran of providing Russia with drones to use in its war against Ukraine. Tehran has repeatedly denied providing weapons to Moscow "for use in war", but admitted to providing Russia with drones before invading Ukraine.
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Parliamentary finance regarding Al-Sudani's appeal against articles in the budget law: because it affected the government program
link still waiting to see if the news is accurate
Today, Monday, the Parliamentary Finance Committee commented on Prime Minister Muhammad Shia'a Al-Sudani's submission of an appeal to the Federal Supreme Court against a number of paragraphs of the General Budget Law.
Committee member, Representative Jamal Cougar told Shafaq News agency, "It was expected that the Prime Minister, Muhammad Shia'a al-Sudani, would file an appeal with the Federal Supreme Court with a number of paragraphs of the budget law, especially since the Minister of Finance and al-Sudani told parliament before voting on the law that the government would appeal to any paragraph It affects the government program and has a financial side.”
And Cougar indicated that "the House of Representatives, by amending some paragraphs of the budget law, added some paragraphs that have a financial side, despite informing the Minister of Finance and the Sudanese, and this appeal was very expected."
buuuuuuut...
A government source denies the Prime Minister's appeal against the articles of the General Budget Law
no details for this yet and it is on social media
A government source denies the Prime Minister's appeal against the articles of the General Budget Law
A government source denied today, Monday, that Prime Minister Muhammad Shia' al-Sudani had challenged the articles of the General Budget Law.
The source said, according to the official agency, that "there is no truth to Prime Minister Muhammad Shia' al-Sudani's appeal against the articles of the general budget law."
House of Representatives General Secretariat of the House of Representatives Legal Department
M/ Notification of a petition
good greeting
Attached is the notification paper with a copy of the lawsuit petition No. (153 / federal / 2023) filed by the plaintiff (Prime Minister / in addition to his position against the defendant (Speaker of Parliament / in addition to his position). Please notify the defendant of it and return it signed and certified according to the law with the written answer to The lawsuit petition and its documents within a period not exceeding fifteen days from the date of notification in accordance with the provisions of Article (21) second) of the internal system of the Supreme Administrative Court No. (1) for the year 2022 Mustafa
with respect
Al-Sudani challenges the constitutionality of 12 articles of the General Budget Law
Al-Sudani challenges the articles of the budget and demands a "state order" from the Federal Court
Al-Sudani challenges the articles of the budget and demands a "state order" from the Federal Court
just headlines now wow!
On Monday, the Prime Minister, Muhammad Shia'a Al-Sudani, submitted an appeal to the Federal Supreme Court against a number of paragraphs of the General Budget Law.
A government source told Shafaq News agency, "Al-Sudani submitted an appeal to the Federal Supreme Court with a number of paragraphs of the budget law, with a request from the court to issue a (state order) to stop the implementation of these articles after the law entered into force, until the court decides to challenge the constitutionality of those articles."
buuuuuuut...
A government source denies the Prime Minister's appeal against the articles of the General Budget Law
no details for this yet and it is on social media
A government source denies the Prime Minister's appeal against the articles of the General Budget Law
A government source denied today, Monday, that Prime Minister Muhammad Shia' al-Sudani had challenged the articles of the General Budget Law.
The source said, according to the official agency, that "there is no truth to Prime Minister Muhammad Shia' al-Sudani's appeal against the articles of the general budget law."
ok it seems to be real
Today, Monday, Earth News Agency publishes documents confirming that Prime Minister Muhammad Shia al-Sudani has challenged some paragraphs of the Federal Budget Law.
see the article I can't copy
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