The tripartite budget comes into effect
Today, Monday (August 7, 2023), the Iraqi Al-Waqa’i newspaper published the instructions for the tripartite budget, which entered into force.
The Director General of the Iraqi Fact Sheet, Hanan Munther Nassif, said in a press statement followed by "Baghdad Today", that "the law's instructions for the tripartite budget have been published in the Official Gazette."
"The instructions have come into force," she added.
Below is the instruction link: https://drive.google.com/file/d/17-1i_cO_QbEKDe2GAcUIfer8_5k3pflq/view
Planning: Budgeting Mechanisms will be released this week
The Ministry of Planning confirmed that the budget mechanisms will be issued this week, and many lagging projects will see the light at the end of this year and the beginning of the next.
Maher Johan, Undersecretary of the Minister of Planning for Technical Affairs, said, "The budget did not linger or stall, but after the approval of the budget law in its final form and the corrections that were made to it by the House of Representatives and the government, we met during the past two weeks officials of the ministries and governorates and developed quick plans to serve the implementation of projects."
He explained, "We cannot finance projects in advance, and we must finance according to what has been ratified and approved in the budget law, by finding a legal basis for issuing instructions that will be published in the Iraqi Gazette and issued at the end of this week as a maximum."
Johan pointed out that "the government program stresses the implementation of service projects that are quick to complete as soon as possible, so the bulk of the budget will be for the completion of strategic projects related to infrastructure, such as sanitation, health, education, and electricity projects," stressing that "these projects are not few." And if they are completed, they will achieve a qualitative leap in the service reality, and quite a few of these projects will see the light at the end of this year, but in the next year, work will continue to complete the lagging projects.
Why was the oil and gas law not legislated in Iraq previously?.. Political differences 18 years ago
Political disagreements over the issue of managing the oil fields of the Kurdistan region of Iraq prevented a vote on the oil and gas law, despite its economic importance, which has been pending legislation in parliament since 2005, which stipulates that the responsibility for managing the oil fields in the country should be entrusted With a national oil company, supervised by Baghdad.
The economist saidNabil Al-MarsoumiIn a post that followedAlsumaria NewsAlthough two versions of the draft oil and gas law were issued, one in 2007 and the other in 2011, no oil and gas law was legislated inIraqBecause of the great difference between the political forces on many issues, including:
Second: There is a major disagreement in the interpretation of Article (112/First) of the Constitution, which requires that the central authority manage the oil and gas extracted from the current fields in coordination with the regions. Exploration patches and this understanding leads to the interpretation of the regions that they will take over the management of oil and gas.
Third: Giving the authority to license oil operations for exploration and production contracts in the center and the regions after presenting the initial contract toFederal Council. This leads to duplicity in the oil policy and affects the economic policy of Iraq due to the potential difference of visions between the Federal Council andOil Ministry.
Fourth: Granting an important aspect of the negotiating role of the Federal Oil and Gas Council and its tasks to a regionKurdistanAnd the oil-producing cities that are not organized in a region may weaken the negotiating role of Iraq and exacerbate the risks surrounding the implementation of a unified strategy in the country.
Fifth: When a unified central policy is lost, competition and disagreement will prevail between the National Oil Company and between the regions and governorates, which will lead to disagreement instead of cooperation that guarantees the unity of the people and the country. While the constitution granted the task of managing oil and gas wealth to the federal government in partnership with the regions and governorates.
On February 15 of last year 2022, the Federal Supreme Court issued a ruling that the oil and gas law of the regional government of 2007, which regulates the oil industry and its extraction in the region, was unconstitutional. This ruling came after the regional government concluded contracts with foreign oil companies. Provincial government refusedKurdistanFederal Court decision, giving up control over oil exports.
The oil and gas law legislation - which has been suspended since 2005 - would regulate and support the oil sector, by regulating investments in the oil and mineral aspects, especially with regard to managing the part of the region.Kurdistan.
A government campaign opens the black box for the banking and exchange sector for the first time in Iraq in 20 years (video)
the video is in Arabic
but these are the words I could translate
A government campaign opens the black box of the banking and exchange sector for the first time in 20 years
Experts: The government will reap the fruits of its campaign to regulate the financial sector in the medium and long term
Experts: There is no choice but to comply with the electronic platform system to ensure that you are not subject to penalties
Warnings of political interference hindering the government's campaign to regulate the banking and financial sector
https://www.youtube.com/watch?
Baghdad and London are discussing Iraq's steps in joining the international financial system
Finance Minister Taif Sami discussed with the British Ambassador to Baghdad, Stephen Hitch, on Sunday, the development of joint cooperation in the field of economy, the exchange of experiences, and Iraq's steps in joining the international financial system.
The Ministry of Finance said in a statement, "The Minister of Finance, Taif Sami Muhammad, received today, Sunday, the British Ambassador to Baghdad, Stephen Hitch, and his accompanying delegation.
The two parties also discussed "mechanisms of joint cooperation in the field of supporting financial and banking policies, building human capacities, discussing Iraq's steps to engage in the international financial system, and the most prominent procedures and reforms that the government is taking in the field of the banking and financial sector, in a way that contributes to enhancing economic development in Iraq."
Al-Nusairi: The Central Bank's statement is a roadmap to ensure monetary stability
Samir Al-Nusairi, advisor to the Association of Iraqi Private Banks, confirmed that the central bank’s statement clarifying the basic facts related to the exchange rate (US dollar) in the local markets and the role of the central bank in providing foreign currency through its official sources, is the road map for the new phase to achieve stability in the money market, in a way that maintains To stabilize the exchange rate and help recover the Iraqi dinar and reach a point of balance with the announced official price, which is 1,320 dinars per dollar.
Al-Nusairi indicated, in an interview with "Al-Iqtisad News", that what is called the parallel market is not real, and that what is present in the circulation of foreign currency is a black market that is controlled by speculators by withdrawing the official cash dollar from some non-authorized money changers and outlets for the purpose of covering illegal imports and through illegal border crossings. Official, which was clearly identified in the statement. Because the source of the dollar in Iraq is the Central Bank exclusively, and there is no other source of the dollar that may come from exports to the private sector, the arena, or transfers to residents abroad.
Al-Nusairi stressed that the system currently adopted to provide the dollar at the official rate is done through the electronic platform exclusively for external transfers and documentary credits for merchants and businessmen, and through international money transfer companies (Western Union and MoneyGram) for personal external transfers abroad such as study and treatment wages, etc., and through banks
. And metaphorical money changers A, b, and mediator C. Cash dollars are transferred to travelers
in accordance with the instructions in force.
He hinted that the Central Bank follows the market closely in accordance with Law 56 of 2004 through its inspection and oversight teams, and it constantly addresses the obstacles that prevent small traders from entering the electronic platform and works to facilitate them, targeting their gain and securing the necessary flexibility for them to obtain the dollar at the official rate and facilitating tax and customs procedures in coordination with government agencies. In order to preserve the safety of money movement and foreign trade, adhere to the Anti-Money Laundering and Terrorist Financing Law No. 39 of 2015, comply with international standards, and maintain the stability of our financial and banking system and protect it from risks.
Al-Nusairi concluded his speech by inviting the competent government agencies, the media, merchants, businessmen and citizens to cooperate with the government measures issued by the Prime Minister and work to implement the instructions and regulations of the monetary authority for the purpose of maintaining stability in the exchange rate and the recovery of the Iraqi dinar, especially since it is strong and covered by foreign cash reserves exceeding 113 One billion dollars now, and let our motto always be (Our dinar is our sovereignty).
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Qatar is applying for a "major" tourism project in Baghdad (photos)
Al-Sudani looks at a large tourism project in central Baghdad and confirms readiness to attract capital
The Prime Minister, Muhammad Shia'a Al-Sudani affirmed, on Sunday, his government's seriousness in making Iraq an ideal and attractive investment environment for capital, to enable the national economy to be interconnected with the world.
The media office of Al-Sudani stated in a statement received by Shafaq News Agency, that the latter viewed the initial plans and the overall drawings of the project to build a large tourist complex in central Baghdad, which was submitted by the Qatari "Istithmar" company, which is specialized in real estate development and investment in tourist destinations.
Al-Sudani said, during his review of the plans and models, that the government is serious with all its apparatus in working to make Iraq an ideal investment environment that attracts capital, in a way that enables the Iraqi economy to open up and bridge interdependence with the global economy, which will be reflected locally in creating job opportunities and opening more windows. development.
And the Council of Ministers had approved, in its last session, which was held on the first of August, to proceed with the project, which will include the construction of a hotel, the latest in the capital, Baghdad, a chain of international restaurants, and presidential halls for local and international official occasions, in addition to a number of vertical housing units. With designs inspired by the history and civilization of Mesopotamia, on an area of 19 dunums, to be opened before 2025.
urgent The Pentagon: the arrival of more than 3 thousand American soldiers to the Middle East
link
The US Fifth Fleet: More than 3,000 sailors and soldiers arrived in the Middle East yesterday as part of a plan announced by the Pentagon
US Fifth Fleet: an amphibious assault ship and a landing ship that arrived in the Red Sea
The Central Command of the US Naval Forces "Marines" announced today, Monday, the arrival of more than 3,000 sailors and soldiers to the Middle East, as part of a plan announced earlier by the Pentagon.
"These elements of the Bataan Amphibious Group (ARG) and the 26th Marine Expeditionary Unit, arrived in the Middle East on August 6, as part of a plan previously announced by the Department of Defense," the command said in a statement.
The statement added, “The amphibious assault ship USS Bataan (LHD 50) and the landing ship USS Carter Hall (LSD 50) entered the Red Sea after crossing the Mediterranean Sea through the Suez Canal,” noting that “these ships bring additional air and sea assets with them to the region, Plus more US Marines and Sailors, providing greater naval flexibility and capabilities for the US Fifth Fleet.
"The amphibious assault ship can carry more than twenty fixed- and rotary-wing aircraft, including MV-22 Ospreys and AV-8B Harrier attack aircraft, as well as several amphibious landing craft," he explained.
He stated that "the area of operations of the US Fifth Fleet includes approximately 2.5 million square miles of water space and includes the Arabian Gulf, the Gulf of Oman, the Red Sea, parts of the Indian Ocean, and three critical points in the Strait of Hormuz, the Suez Canal, and the Bab al-Mandab Strait."
Headed by the Minister of Defense.. A high-ranking Iraqi security delegation visits Washington
Today, Monday (August 7, 2023), the spokesman for the Commander-in-Chief of the Armed Forces announced that a delegation from the Iraqi Ministry of Defense has begun a visit to the United States of America, while pointing out that the delegation will discuss the future of the relationship between Iraq and the international coalition.
Major General Yahya Rasool said in a statement received by "Baghdad Today", that "at an official invitation from the US Department of Defense (The Pentagon), a high-level delegation headed by Iraqi Defense Minister Thabet Muhammad Al-Abbasi began a visit to the United States of America, noting that" the delegation includes the head of the security apparatus Combating Terrorism, First Lieutenant General Abd al-Wahhab al-Saadi, Chief of Staff of the Army, Lieutenant General Abdul Amir Rashid Yarallah, Special Forces Lieutenant General, Lieutenant General Qais al-Muhammadawi, Deputy Commander of Joint Operations, and a number of advisors and officers.
He added, "During this visit, the delegation will hold several meetings to discuss a number of issues, foremost of which is the future relationship of the presence of the international coalition, bilateral security cooperation between Iraq and the United States, and the exchange of experiences and information, especially in the intelligence aspect in pursuing the remaining elements of the terrorist gangs of ISIS."
And the spokesman for the Commander-in-Chief added, "The visit also includes holding a series of meetings and conferences with officials in the US Department of Defense in a way that serves the common interests between the two countries."
Baghdad Trade praises a procedure for the Iraqi Trade Bank: curbing the rise in the price of the dollar
The Baghdad Chamber of Commerce confirmed, on Monday, that the move of the Trade Bank of Iraq (TBI) prevented the rise in the price of the dollar, while it indicated that 90% of consumer goods are imported.
The head of the Chamber, Firas Al-Hamdani, said, in an interview with Shafaq News agency, "The Iraqi markets are completely affected by the dollar, because 90% of consumer goods are imported, and therefore the high price of the dollar results in price inflation."
He pointed out that "the Iraqi government is serious about controlling the price of the dollar and has taken a positive step by authorizing the Central Bank of Iraq to the Trade Bank of Iraq (TBI) to sell the dollar at a price of 1320 Iraqi dinars to small merchants for import purposes without the requirement to submit the fundamental documents that belong to companies except for its affiliation with the Chamber of Commerce." or has a commercial record.
He stressed that "this step limited the rise in the price of the dollar against the dinar and created relative stability in the prices of goods in the local markets, because this matter is linked to the transfer of currency abroad, and therefore we need the central bank and Iraqi banks to be supportive of the merchant."
Al-Hamdani pointed out that "the Iraqi Trade Bank, on July 30, began transferring dollar purchase requests to small merchants (shop owners), amounting to 100 thousand dollars per merchant at a price of 1320 per dollar, through banks directly without the need to participate in the electronic platform of the Central Bank."
Meeting in the Ministry of Finance on the "Unified Treasury Account"
link pic
Today, Monday, Finance Minister Taif Sami Muhammad chaired a meeting to discuss the requirements for designing and implementing the unified treasury system.
Sami stressed, "The need to continue the ministry's efforts through the committees formed for the purpose of implementing the system to complete the steps of the project, which represents one of the pillars of developing the ministry's policy towards reforming the financial sector and the optimal implementation of the stages of the unified treasury account project."
The politically protected corrupt... a difficult obstacle in the way of law enforcement
The Legal Committee in the Iraqi Parliament called for applying anti-corruption measures to those it called "politically protected", who are linked to influential parties that protect them from the rule of law, amid calls for legislation and activation of anti-corruption laws.
Corruption is considered one of the most dangerous issues that Iraq suffers from, and evidence indicates that it defies the authority of the state and the law.
Those involved in corruption are often individuals with influence and power within government institutions or private sectors, and they have relationships with government or judicial officials, or their success depends on strong political support, and this makes it difficult to pursue them legally and hold them accountable.
The government of Muhammad Shia al-Sudani affirms that it is seeking to fight corruption, and has made promises to do so, and that it is cooperating with parliament in this regard.
Corruption is often carried out with caution and in highly legitimate ways, making it difficult to gather sufficient evidence to prove the crime.
A member of the Legal Committee in Parliament, Representative Raed al-Maliki, confirmed, on Monday, that “the fight against corruption must be accompanied by serious and real measures, in order to gain greater support and credibility, by applying it to those inside Iraq, who are protected under political umbrellas or parties that carry weapons,” pointing out in A statement to “Al-Sabah” newspaper indicated that “failing to pursue the protected groups may be interpreted as the fact that the anti-corruption steps target only the weak, corrupt, who have no protection.”
He stressed the need to "tighten anti-corruption measures at home, not just electoral slogans and propaganda," noting that "the extradition of wanted persons does not cause any problems with countries, because there are extradition agreements, including an anti-corruption agreement issued by the United Nations, which Iraq has ratified." ".
Iraqi state institutions are not transparent enough, which makes it difficult for the public and the media to monitor matters and uncover cases of corruption.
A member of the Legal Committee warned against “delay or procrastination in enacting the acquired nationality law, because this makes recovery procedures difficult,” considering that “the presence of a real will will not make any task difficult or impossible.”
There are economic and political effects that prevent those involved in corruption from being held accountable, especially if those implicated occupy leadership positions in the government or the private sector. There is a fear that this accountability will be a reason for economic stability or political collapse.
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