Sunday, March 17, 2024

Prime Minister: Iraq is about to host important events and conferences

Prime Minister: Iraq is about to host important events and conferences

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Prime Minister Muhammad Shiaa Al-Sudani confirmed today, Saturday, that Iraq is about to host important events and conferences.

The Prime Minister’s Media Office stated, in a statement received by (Al Oula News), that “Prime Minister Muhammad Shiaa Al-Sudani conducted a field visit to the Rixos and Movenpick hotel projects, which are being implemented in the center of the capital, Baghdad, and listened to a detailed presentation on the executive work of both projects. And look at the stages of completion.”


The Prime Minister stressed that “a city the size of the capital, Baghdad, is in dire need of large hotels, due to the tourist movement and official delegations it witnesses, and the fact that it hosts many Arab, regional and international conferences throughout the year, with the hotel occupancy rate currently reaching 100%.”

He stated that “Iraq is about to host important events and conferences, which requires making more efforts to complete these two hotels and the rest of the large hotels, which are currently being implemented in Baghdad.”

The statement pointed out that “these two projects are among several hotel projects being implemented in Baghdad, and the government has paved the way for them and pushed them forward through economic reforms and creating an attractive environment for foreign investments, which will help in completing them in the required time.”



After sending the 2024 budget schedules to the Council of Ministers... parliamentary finances are suspended - urgent

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Today, Friday (March 15, 2024), the Parliamentary Finance Committee commented on Finance Minister Taif Sami’s announcement of sending data related to the 2024 budget schedules to the Council of Ministers.

Committee member Moeen Al-Kazemi told Baghdad Today, “The Ministry of Finance sending data on the 2024 budget tables to the Council of Ministers means that its mission has ended and we are waiting for the Council of Ministers to vote on these tables and send them within the next few days.”

Al-Kadhimi stated, “The Council of Ministers will speed up sending these tables to the House of Representatives, and we, in turn, will have access to them, and some amendments may be made to them, if there are any observations, and we cannot view these data, except after they officially arrive from the Council of Ministers.” After he approves it.”

Last Wednesday, the Minister of Finance, Taif Sami, announced the completion of data related to the 2024 budget tables, the inclusion of texts, and sending them to the Council of Ministers .

Sami said in a press statement followed by "Baghdad Today", "The data related to the 2024 budget schedules has been completed, the texts have been included, and they have been sent to the Council of Ministers .  "

She confirmed that: “I will not release funding for the salaries of Kurdistan Region employees for the month of March until after resettlement, and I do not disagree with the decision of the Federal Court .”

The Prime Minister, Muhammad Shiaa Al-Sudani, announced on February 20 that “the government is continuing to scrutinize the schedules for the 2024 budget, as the government carefully confronted the deficit within the 2023 budget .  



A source reveals the reasons for the regional government not publishing the salary distribution schedule for its employees

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Today, Friday (March 15, 2024), an informed source revealed the reasons for the Kurdistan Regional Government not publishing the employee salary distribution schedule despite Baghdad sending money.

The source said in an interview with "Baghdad Today", "The money was sent by Baghdad to the Kurdistan region despite there being a shortage of about 350 billion dinars."

He added, "This shortage is trying to be paid by the regional government from the revenues of the border crossings, but those revenues total 320 billion dinars, and therefore the regional government is waiting to arrange its situation and complete the amount before announcing the distribution schedule, which will most likely be ready within two days."

The government spokesman, Bassem Al-Awadi, confirmed on Wednesday (March 13, 2024) the continued funding of employee salaries in the Kurdistan region, and that there is no truth in stopping the funding.

Al-Awadi told the official agency, followed by “Baghdad Today,” that “funding the salaries of Kurdistan Region employees will continue according to the established contexts and in cooperation with the regional government, and there is no truth to the information circulating about stopping funding.”

He added, "The Federal Ministry of Finance is committed to financing the region by paying the salaries of employees in the Kurdistan region for the month of March, with the importance of coordinating with the Ministry of Finance in the Kurdistan region to accelerate the process of completing resettlement procedures in the approved banks."

Finance Minister Taif Sami announced on Wednesday that she “will not launch funding for the salaries of Kurdistan Region employees for the month of March until after resettlement, and I do not violate the decision of the Federal Court.”

The spokesman for the Kurdistan Regional Government, Bishwa Hawrami, commented on the Minister of Finance’s statement by saying during a press conference, “The Kurdish people are not prisoners so that their employees’ salaries are sent in the form of payments,” noting that “there are some racists who want Baghdad to deal with Kurdistan as if it is conservative and not... province".


The Prime Minister and the Badr Parliamentary Bloc discuss government measures to advance the service and economic sectors

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Prime Minister Muhammad Shiaa Al-Sudani discussed with the head and members of the Badr Parliamentary Bloc the government’s measures to advance the service and economic sectors.

The Prime Minister’s Media Office stated in a statement received by the Iraqi News Agency (INA), that “Prime Minister Muhammad Shiaa Al-Sudani received the head and members of the Badr bloc in the House of Representatives, and during the meeting, they discussed the general situation throughout the country, and ways to support the government’s efforts to strengthen Security and stability, and its measures aimed at advancing various service, economic and urban sectors.”

He added, "The meeting witnessed a review of a number of files that the government is working to implement in accordance with its government program, especially the axes of services and combating poverty, and the importance of coordination between the government and parliamentary committees, to achieve integration and reach the goal of serving the citizen, and to complete the reforms that the government has proceeded to implement, in a way that helps to achieve Achieving sustainable development that improves Iraq’s reality.”



SAT articles

this one talks about the exchange rate but nothing about new denominations unless I missed it

After a year and a half of fluctuation...dollarization declines by 20 percent in Iraqi markets

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Fluctuations in the exchange rate of the dollar have become the main concern of Iraqis due to its disastrous repercussions on their living conditions and purchasing capabilities, which are declining daily due to the rise in prices of basic goods and services with the decline in the value of the dinar against the dollar.

However, the government's measures to control the dollar and prevent speculators have had a positive impact on the economic situation in Iraq, as the Chamber of Commerce approved, today, Saturday, a 20% decrease in dollarization in Iraqi markets during 2024.

The term "dollarization" refers to the use of the dollar instead of the local currency in a country, or its use alongside the local currency. Dollarization usually occurs when a country's currency loses its usefulness as a means of exchange, due to excessive inflation or instability.

Citizens resort to dollarization when inflation becomes rampant in the country, to search for financial stability that the local currency cannot provide, due to its fluctuating value.

The head of the Diyala Chamber of Commerce, Muhammad Al-Tamimi, said, “The dollar has become the most important and most influential trading currency in setting price rules in Iraqi markets in recent years due to mistakes and accumulations that have continued for many years.”

He added, "The variables in dealing with the parallel market and the effort to control the phenomenon of dollarization in Iraqi markets have begun to succeed in reversing the trend towards the dinar, which led to a decline in dollarization in the markets by 20% during the year 2024. This matter is extremely important, and its most prominent repercussions are the relative stability of the exchange rate despite the rise." Foreign trade.

He pointed out that "increasing electronic transactions in exchange for state services is very important. It will contribute to increasing the state's cash balance and give flexibility in paying salaries and loans and financing investment projects," according to Al-Alam Al-Jadeed newspaper.

Local markets in Iraq witnessed a noticeable rise in the prices of basic commodities and red meat with the advent of the holy month of Ramadan, at a time when the Iraqi citizen is living in difficult economic conditions due to the decline in the value of the dinar against the dollar and the expansion of the poverty map in the country.

The prices of goods and services in Iraq rose by 18 percent during the last four years, according to data from the Ministry of Planning.

The prices of basic commodities for the Iraqi citizen witnessed an increase of 30 percent on average, while meat recorded an increase of 36 percent, compared to the year 2020, after the price of one kilogram of it reached 25 thousand dinars.

From time to time, the Iraqi market witnesses a crisis that leads to a rise in prices, which began with a change in the exchange rate of the dollar, and then the Russian-Ukrainian crisis, and the rise of the dollar again during the current year to record levels.

It is noteworthy that the countries neighboring Iraq are witnessing the prices of foodstuffs, whether imported or local, being set by the state, while the private sector is subject to strict penalties and very large fines if any chain of stores raises prices, as they are all subject to the controls of specialized official bodies, Price manipulation cannot occur, except in cases of economic collapse or a significant difference in the exchange rate of currencies against the dollar.



Sudanese Advisor: The government has adopted a flexible plan to recover funds and bad debts

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The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, explained the details of a flexible government plan to recover funds and collect bad and accumulated debts.

Saleh said, “The government has granted the government banking system in general, and the Iraqi Trade Bank in particular, sufficient flexibility in re-collecting its uncollected debts granted to various natural and legal persons, which have accumulated over many years, in accordance with a fair and highly flexible collection program at the same time, which... It makes the assets of government banks and the Trade Bank of Iraq at a high quality level on an ongoing basis, and at the same time enhances the sustainability of government banking, financing official foreign trade, and strengthening financing guarantees linked to strategic development opportunities in the country.”

He added, "The government has adopted a flexible plan to recover funds, especially those that are in default due to accumulated historical reasons. It is a plan that will adopt flexible and solid solutions that are in the interest of the strength and stability of the government banking system and strengthening its assets and financial leverage."

He continued, "The financial and monetary authorities will exert, through their policies, supportive measures for the government banking system, which is no less important than the reform policy adopted by the aforementioned banks themselves and in accordance with their current development program in building an integrated, highly efficient banking market that serves the sustainable development and stability of the national economy."


Technical committees work.. Iraq reveals developments in resuming oil exports through Türkiye

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On Saturday, the Iraqi Ministry of Oil revealed the latest developments in the work of the technical committees between Baghdad and Erbil to solve the problem of exporting oil from the fields of the Kurdistan Region, via the Turkish port of Ceyhan.

The Ministry's spokesman, Asim Jihad, told Shafaq News Agency, "Technical committees are working between Baghdad and Erbil for the purpose of completing a final and transparent agreement between the two parties that ends the existing disputes over the export of oil from the Kurdistan Region after it stopped."

Jihad added that these committees “discuss export mechanisms and what is related to them, and there are matters related to the financial dues that result from oil sales, as well as the rights of oil companies that have signed partnership contracts with the regional government, and with the resolution of these problems and reaching a complete agreement, oil exports will resume.” ".

He continued: "It is not difficult to reach an agreement with the Turkish side for the purpose of resuming oil exports, as we spoke with the Turkish side in this regard and their response was that the pipes are ready," adding: "The Ministry of Oil worked to repair the Kirkuk-Ceyhan field line, so that it would be ready for export, but Resuming pumping is linked to technical operations determined by the ministry in coordination with oil companies.”

Regarding oil production in the Kurdistan Region, Federal Oil Minister Hayan Abdul Ghani said that there are negotiations with companies currently operating in the region because they entered into contracts with the Kurdistan Region on the basis of partnership, while the Iraqi constitution prohibits partnership in the fields and we are in the process of changing these contracts to share in profits and not In assets and production.

Turkey stopped oil exports amounting to 450,000 barrels per day from the Kurdistan Region, via the Ceyhan line, last March, after the International Chamber of Commerce ordered Turkey to pay compensation to Baghdad for damage it suffered from the regional government’s export of oil without the permission of the federal government between 2014 and 2018.



Get $75 when you refer a friend


click the gift above

A 5 Star bank is offering a free online bank account with a debit card that pays $25 to the enrollee and $75 "commission" to everyone that refers someone to the account.

So YOU set up your account and receive your OWN $25 and then you will set up your family and friends and THEY will all get the same $25 and YOU get $75 for everyone that gets the $25.

It does take $10 to sign up for the account, and it has to come from a debit card (checking account) connected to you, but the $10 is available immediately in your account to use. So it's actually free to get your $25 but you need to have $10 available to set it up.

Yes it's true and it works and I have done it MYSELF! 


My account or your account”... a new problem behind the delay in the salaries of the region’s employees

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“My account or your account”... a new problem behind the delay in the salaries of the region’s employees

Member of the Iraqi Parliament, Representative Muthanna Amin, confirmed on Saturday that the problem of salaries for Kurdistan Region employees has been resolved and there are no problems other than approving “my account or yours” between the governments of the region and the federal government, as he described it.

Amin said, in a press statement received by Shafaq News Agency, “The problem of salaries of Kurdistan Regional Government employees has been resolved and there are no problems because the Federal Court obligated the governments of Baghdad and Erbil to implement its decisions.”

He added, "The current problem between the Kurdistan Regional Government and the central government is the problem of approving (my account) for the regional government, or (your account) for the federal government," noting, "They called for paying the salary as usual and resolving the problem between my account and your account within the next two months." 

Amin continued: “If an accounting system is approved, this means that the Kurdistan Regional Government is the one who will distribute the salaries. If your account is the one approved by the federal government or their account, this means that the federal government is the one who will distribute the salaries.”

He pointed out, "If the Kurdistan Regional Government wants to pay the salaries of its security forces, it must disclose their lists and submit them to the Iraqi government, because the Iraqi government sends salaries through an approved list."

On Wednesday, 2/21/2024, the Federal Supreme Court (the highest judicial authority in Iraq) decided to oblige Muhammad Shia al-Sudani, Prime Minister of the Federal Council, and the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, to localize the salaries of employees and workers in the public sector with federal banks.

The President of the Federal Court, Judge Jassim Muhammad Abboud Al-Amiri, read the text of the ruling on the issue of the region’s salaries, obligating Al-Sudani and Masrour Barzani to localize the salaries of all employees of government agencies in the center and region in federal banks outside the Kurdistan Region.

The court also decided to oblige the submission of the monthly budget for the region’s employees to the Federal Ministry of Finance, while requiring the region’s Council of Ministers to hand over all oil and non-oil revenues to the federal government.

The ruling stressed that the decision to localize the salaries of the region’s employees is final and binding.





Parliamentary Finance: Delaying the budget had a negative impact on the performance of the ministries

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The Parliamentary Finance Committee called on the government to expedite sending the budget to the House of Representatives, especially since its schedules have not undergone any change and its doors are fixed, indicating that the delay is counted on the government and thus reflects negatively on the performance of the ministries.

Committee member Faisal Al-Naili said in an interview with Al-Sabah, followed by Al-Iqtisad News, that “the budget schedules for 2024 were long overdue, and it would have been better for them to reach the House of Representatives at the beginning of this year, especially since the items are fixed and remaining and no discussion or discussion has taken place on them.” Change, only the tables that included financial allocations for items that were confirmed in the 2023 budget.”

He believed that "the delay is blamed on the government, and all ministries that depend on operating the budget are basically at a standstill." Al-Naili called on “the government to send all the budget schedules, complete and calculated accurately, so that they are not returned to the Council of Ministers and take time to change, delete, and add,” indicating that “the House of Representatives is ready to discuss the budget as soon as it arrives and complete the approval of its schedules.”

 


For the first time in 2024.. exchange rates fall to the threshold of 149 thousand in Baghdad

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read it as 1499 dinar per 1 dollar

The dollar exchange rates recorded, in Iraqi stock exchanges, during Sunday’s trading, a decline that is the first of its kind during the current year.

The exchange rates at the Al-Kifah and Al-Harithiya stock exchanges in the capital, Baghdad, reached 149,900 dinars for every 100 dollars, while in Basra, they stabilized at the 150,000 mark.

In the governorates of the Kurdistan region, exchange rates reached 150 thousand dinars for every hundred dollars...

 



The President of Integrity addresses citizens and confirms: Our battle against the corrupt is inevitably coming

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The head of the Federal Integrity Commission, Judge Haider Hanoun, confirmed today, Sunday, that the integrity battle against corruption and the corrupt is inevitably coming, calling on all citizens to actively participate with the regulatory agencies in this fierce war.

The Integrity Commission stated in a statement received by “Al-Iqtisad News” that “Judge Haider Hanoun participated in the Ramadan evening organized by the Department of Relations with Non-Governmental Organizations in the Commission in cooperation with the Najaf Governorate Council and the Dijlah Center for Strategic Planning, and it was attended by the governor, the head of the governorate council, and a number of event representatives.” official and popular.

During the evening, according to the statement, Hanoun “shed light on the Commission’s project that it launched during its announcement of its annual achievements report titled (the national project mixed with legal mandate),” expressing his determination to “crystallize the project and implement it in a real treatment of the phenomenon of corruption, and to strike its heads and return its proceeds, away from corruption.” Illegal compliments and determinants.”

The Chairman of the Commission pointed out, “Some steps that are directed towards the anti-corruption project, including launching a competition (Participate in the Battle of Corruption), in order to provide the opportunity for all groups of the Iraqi people to participate effectively in this war, and to represent the roles of the soldiers and leaders of this battle that were described by the authority in The victory sermon is that it is “no less fierce than the battle of terrorism, if not more severe and cruel,” stressing that “victory in this battle requires tightening its management in a professional and decisive manner, in order to identify risks and determine appropriate treatments,” adding that “the Commission has adopted this project and we will work.” We will achieve it with all our might and whatever the cost.”

 He praised "the role of the media in confronting corruption, and the contribution of investigative journalism in exposing the sources of corruption, probing the depths of some files, and exposing the corrupt and those who trespass on public funds," returning the professional national media to be "an essential partner for the regulatory agencies in the fight against corruption."

At the same time, Hanoun warned against “making accusations that are not supported by evidence through the media,” stressing that “this falls within the framework of blackmail or subversion and harming the country’s reputation.”

 For his part, the head of the Najaf Provincial Council, Hussein Al-Issawi, according to the statement, praised “the authority’s men and their achievements in confronting corruption and spreading a culture of integrity,” pointing out that “the legacy of corruption is heavy and affects the delay in projects and the low level of services provided.”

 Al-Issawi stressed, “The Provincial Council looks forward to resolving corruption cases pending before the judiciary in cooperation between the authority and the local government,” calling on clerics and preachers to “raise awareness of the danger of corruption and warn against it and its destructive effects.”

 


The Ministry Of Finance Answers A Question Regarding Selling The Dollar To Travelers

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Problems and solutions regarding the issue of selling dollars to travelers at Baghdad International Airport

good greeting :

A reference to your letter No. (367) dated 2/7/2024 regarding the indicators of problems and solutions presented regarding the sale of the dollar to travelers.

As far as the matter is concerned with our bank, we would like to clarify the following, according to the indicators mentioned in the representative’s letter above:

The times for opening the electronic form are linked to the share of dollars received from the Central Bank of Iraq and after receiving it

And send it to our bank branch at Baghdad International Airport. Regarding the lack of a continuously open form, the bank’s share is from the Central Bank of Iraq

It does not allow the platform to be launched continuously, knowing that this quota for the bank is being applied for from all governorates

Iraq: This quota does not meet the purpose and the number of customers is so large it cannot be counted. Regarding launching the platform on Fridays and official holidays, our bank is committed to the directives of the Central Bank

The bank takes stock of its share as soon as the balance is available, the reservation link is launched for the purpose of serving the largest number of customers until Fridays and official holidays, as our branches are mandated to work on Fridays and official holidays for the purpose

Walking the bank customers. All of the indicators mentioned in your book above relate to the prescribed share, which is approved by the Central Bank of Iraq and the extent to which this share is concerned.

We hope you would like to know... With appreciation...

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document in Arabic



An economist calls on the government to support and stimulate the private sector

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The economic expert, Hassan Ismaik, today, Sunday, called on the government to support and stimulate the private sector in Iraq.
In an interview with Mawazine News, Ismaik said, “There is a need to rehabilitate the government sector in order to stimulate growth in the private sector, which will contribute to creating partnerships and strategies with foreign direct investment in unexploited sectors such as transportation, tourism, and the shift towards smart agriculture, as well as Industrial and technological cities.

He stressed "the necessity of shifting towards investing in quality of life and enabling Iraq to create a new digital environment."
He pointed out that "there are many experts who link the reforms implemented by the Iraqi government headed by Muhammad Shia al-Sudani, and enabling the country to shift towards digitalization, as the solution to many of its crises, especially corruption, administrative slackness, and poor service provision, and encouraging investors and facilitating their work, which requires... Firstly, revitalizing and streamlining the public administrative apparatus.”

He pointed out that "activating the public sector in Iraq must coincide with measures by which the government supports the private sector, increases the growth of its business, and raises the level of partnership between it and the public sector."




Hamdad Faisal: Not approving the draft oil and gas law submitted by the Sudanese group is better for the Kurds

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 The expert on oil and gas, Hamdad Tawfiq, confirmed that the Iraqi Parliament’s failure to approve the draft oil and gas law prepared by the Sudanese government is better than approving it, because it violates the constitutional rights of the Kurdistan Region.

Today, Saturday, March 16, 2024, Faisal told Kurdistan 24, “I rule out issuing a decision at the present time, which in turn would be the only solution to all problems, especially those related to oil, between the federal and regional governments.”

Faisal pointed out that the current draft resolution, prepared by the Sudanese formation, for oil and gas, would be better not to receive approval in the Iraqi Parliament, because it violates the constitutional rights of the Kurdistan Region, regarding the oil and gas file.

He added, "Before reading this draft law in the Iraqi parliament, it is important for the Kurdistan Region to meet with the Iraqi political parties and be able to persuade them to prepare a draft law that protects the constitutional rights of the Kurdistan Region and oil companies. If the opposite happens, it will have no effect and the problems will not be solved."

According to Faisal, “The draft resolution prepared by the Sudanese formation presents the Kurdistan Region as an ineffective party, and it is better for it not to be approved, because it does not benefit the Kurds.”

As of March 25, 2023, crude oil exports from the fields of Kurdistan and Kirkuk Governorate to Turkey through the Turkish port of Ceyhan were halted.

In addition to suspending all oil activities of foreign companies operating in Kurdistan’s fields, after the International Arbitration Tribunal in Paris ruled that these exports were illegal.

This decision comes as a result of a lawsuit filed by the federal government against Turkey in the International Court of Arbitration in Paris in 2014, because it allowed Kurdistan’s oil to flow into its territory and export it without Baghdad’s approval.

According to an agreement concluded between Baghdad and Ankara in 2010, the Iraqi Oil Marketing Company (SOMO) is the only entity authorized to export, market and sell Iraqi oil in global markets.

Kurdistan was exporting 450,000 barrels daily to Turkey, to secure the salaries of its employees and its financial revenues, due to the absence of an oil and gas law regulating the management of oil wealth in Iraq.

During his visit to the United States of America, the issue of resuming the export of oil from the Kurdistan Region was one of the main topics of discussions held by Prime Minister Masrour Barzani with officials in Washington.



A representative holds Kurdistan responsible for the faltering legislation of the oil and gas law

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Member of the Parliamentary Oil, Gas and Natural Resources Committee, Kazem Al-Touki, confirmed today, Sunday, that the approval of the oil and gas law has been stalled due to the high ceiling of claims of the Kurdistan Regional Government.

Al-Touki told Al-Maalouma, “The high ceiling of the region’s demands has hindered the approval of the oil and gas law in the House of Representatives, as some technical points have turned into political points.”

He added, "The regional government is obligated to sit at the dialogue table to legislate the oil and gas law, as it is one of the important laws."

He continued, “The Oil Law aims to regulate the relationship and operations of extracting oil and gas in Iraq, as well as the financial relationship with regard to the dealings of regions and governorates not affiliated with the central government.”



Ministry of Oil: We are keen to accelerate the implementation of optimal investment plans for oil and gas wealth

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The Ministry of Oil confirmed, on Sunday, its keenness to accelerate the implementation of plans for optimal investment of oil and gas wealth.

The Ministry stated in a statement, seen by Al-Iqtisad News, that “The Director General of the Central Oil Company, one of the formations of the Ministry of Oil, Muhammad Yassin, confirmed during his inspection of the development work of the (Al-Khasham Al-Ahmar and Galabat) fields in Diyala Governorate, the keenness of the Ministry of Oil and the company to accelerate the implementation of plans.” “Optimal investment of oil and gas wealth, by providing the appropriate investment environment for the work of international companies that won the fifth licensing rounds to develop oil and gas fields and sites.”

He added, "This visit comes within the directives of the Minister of Oil aimed at following up on the direct operations to develop and rehabilitate the Khashm al-Ahmar and Galabat fields in order to invest good quantities of gas by the Emirati company Al Hilal, which won the development of the two fields, within the dates and commitments to the development plans, all the way to production." Pointing out the importance of "developing these fields in adding new quantities of oil and gas to national production." 

The statement explained, “The company’s general director held a meeting with the security leaders in the governorate, with the aim of security coordination and cooperation in this field,” noting that “the general director was accompanied on his inspection tour by a number of directors of the relevant technical bodies and departments, and a representative of the Emirati company Al Hilal, the developer of the two aforementioned fields.” .

 


Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there is no specific date for sending it

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Parliamentary Finance: The federal budget is in the corridors of the Council of Ministers, and there is no specific date for sending it

The Parliamentary Finance Committee confirmed on Sunday that the schedules of the Federal Budget Law for the year 2024 are still in the corridors of the Council of Ministers, confirming that it does not know when the budget law will be sent to the House of Representatives.

 

Committee member Mustafa Al-Karaawi told Shafaq News Agency, “Minister of Finance, Taif Sami, in her last visit to the Parliamentary Finance Committee, assured us that the budget law schedules are still with the Council of Ministers, and are expected to be sent soon to the House of Representatives.”

 

He added, "We are awaiting the arrival of the budget schedules in order to discuss and approve them in Parliament," noting that "the Financial Supervision Bureau law stipulates that the government send the budget law schedules to the House of Representatives before the end of the fiscal year, but the year has ended and the government was very late and did not send the budget schedules." To the Council.”

Al-Karaawi continued, “The budget law schedules are currently in the corridors of the Council of Ministers, and we do not know about their content or the date of sending them to Parliament.”

 On June 12, 2023, the Iraqi Parliament approved the tripartite budget law for the years 2023, 2024, and 2025. Last year’s total budget amounted to 197 billion dinars, which is the largest in the country’s history.


Government advisor: Iraq will leave government monetary dealing in mid-2024

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Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, expected today, Sunday, that Iraq will leave government cash dealing and switch to 100% electronic collection in mid-2024.

Salih said, “Government collection began at the beginning of this year, and it now relies on electronic payments.” Through cards in their various forms, but preparing revenue institutions for electronic payment takes some time.”
He hinted that "by the middle of this year, the government collection rate will become 100 percent electronic, after important institutions such as the Ministry of Electricity and gas stations started it, in addition to the gradual adaptation of the rest of the institutions."

 

A delegation from the Kurdistan government visits Baghdad with 3 files in hand

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An informed source revealed, today, Sunday (March 17, 2024), that a delegation from the regional government will visit the capital, Baghdad, tomorrow, Monday .

The source said in an interview with "Baghdad Today", "A delegation headed by the Minister of Finance in the regional government, Awat Sheikh Janab, will visit Baghdad and meet with the President of the Federal Court, Jassem Al-Amiri, and the Minister of Finance, Taif Sami ."

He added, "The visit is for the purpose of discussing and deliberating on the issue of localization of salaries, when the process will begin, and whether the funding of the amounts will continue, and also to complete sending the amounts for the salaries of the Peshmerga, the security services, and the Zirvani, so that the regional government can pay the salaries of the employees."

A number of the region's departments went on strike today, Sunday, due to the delay in disbursing employees' salaries for the month of February by more than 17 days, while more than 47 days have passed since the last salary received, which was the salary for the month of January.


The Prime Minister of the Kurdistan Regional Government receives a joint delegation from the Board of Directors of the Bank of Baghdad and the Jordanian Kuwait Bank

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The Prime Minister of the Kurdistan Regional Government receives a joint delegation from the Board of Directors of the Bank of Baghdad and the Jordanian Kuwait Bank

 The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received this evening, Sunday, March 17, 2024, a joint delegation from the Board of Directors of the Bank of Baghdad and the Jordan Kuwait Bank, headed by the Chairman of the Board of Directors of the Bank of Baghdad, Majid Allawi Al-Saadi.

In the meeting, which was attended by the former Jordanian Prime Minister and member of the Board of Directors of the Bank of Baghdad, Abdul Karim Al-Kabariti, opportunities for cooperation in implementing joint business and projects with the Kurdistan Regional Government were discussed, in a way that strengthens the banking system and achieves economic development in Iraq and the Kurdistan Region.

The Prime Minister highlighted the reforms implemented by the Kurdistan Regional Government in the field of the banking system and the digitization of services provided and electronic payment. He also confirmed the continuation of work on the (My Bank Account) project, indicating that he is in contact with the Prime Minister of the Federal Prime Minister and the Governor of the Central Bank regarding a number of initiatives related to Developing the banking system, in coordination with the Central Bank of Iraq and according to its instructions.

For its part, the delegation expressed its admiration for the progress made in the (My Bank Account) project, and the vision adopted by the Prime Minister regarding economic diversification and ways to advance the banking sector. The two sides also agreed on the importance of supporting the efforts of the Kurdistan Regional Government in the field of banking reform.

The Bank of Baghdad is one of the largest commercial banks in Iraq, and it was the first bank to obtain a license from the Central Bank of Iraq in 1992. The Jordan Kuwait Bank is a Jordanian bank with branches in many Arab countries.

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A model of economic diversification

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In this article, I will change the course of my talk from the direct economic issue to the method of monitoring and analyzing the economic phenomena of the world’s experiences to clarify the picture of how countries attempt to develop their economies.

The goal, of course, is to put economic policy makers and economic decision-makers in the country in the picture of how countries deal with this goal by simply referring to a specific experience without any comment.

It is a new method and approach that I am trying to develop for myself, through which I provide realistic treatments of economic phenomena by looking at the experiences of others.

In the first column, we do not go far from an experience applied in our Arab and regional environment, starting with my experience in writing subsequent articles according to this approach.

The beginning is to search for an answer to the question: How does a particular country seek to diversify its economy?

The closest example we chose is an oil country par excellence and it is one of the emerging countries that is achieving successive developments in its economy, which is Saudi Arabia.

News and periodic economic reports indicate that it, and I mean Saudi Arabia, is seeking to diversify its economy to reduce or reduce dependence on oil, so it invests in multiple and diverse sectors, most notably manufacturing, then tourism, entertainment, and others, aiming to achieve a head start in catching up with global developments in various fields. 

The Saudi Sovereign Investment Fund, which is responsible for implementing major investment projects in the Kingdom, has allocated $100 billion as part of the Kingdom’s vision until 2030 to establish a center for advanced manufacturing, while announcing partnerships with major international investment companies specialized in making this approach a success. This type of investment aims to develop capabilities. The Kingdom’s industrial sectors are in various and multiple fields, most notably robotics, which is the main concern in the world, with the aim of catching up with the global pace of development, as well as the manufacture of air conditioners, the manufacture of surveillance cameras, etc. It is expected to achieve the goal of creating job opportunities for young people, by providing 39 thousand new jobs for the Kingdom’s youth. On the other hand, ambition has not stopped. With this goal, the Kingdom seeks to invest in various other important fields, for example, developing the tourism, entertainment and artistic sectors through the establishment of international resorts and major cities, in addition to developing archaeological areas by involving the private sector to invest in this field.

The Kingdom aims to develop the tourism reality so that the volume of tourists in Saudi Arabia reaches 150 million tourists annually, half of whom are foreigners, in addition to religious tourism in Hajj and Umrah. It is also moving towards privatizing sports clubs and investing in them and investing in the international film industry by bringing in major foreign players and attracting the international league as well as major players. Representatives of popular cinema production as a profitable investment. It must be noted here that Saudi Arabia, with the aim of reducing dependence on the sovereign wealth fund in the implementation of these projects, is giving the private sector exceptional attention in these important investments that revive the non-oil economy. Thus, countries seek to diversify their economies and financial resources by not Depending on or reducing oil revenues, we hope that the message reaches those concerned in our country who seek to develop and grow our economy.


Al-Sadr rejects the framework's messages, and Al-Maliki insists on reconciling with the movement

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Talk about early elections...and a coup against the understandings of the Presidency of Parliament

 good summary of just background stuff

Coups and shifts in positions are taking place within the coordination framework, while Muqtada al-Sadr, the leader of the Sadrist movement, rejected new messages he received from the Shiite alliance. In recent weeks, the “Framework” has been busy discussing the upcoming elections, and the emergence of proposals to return to the idea of ​​“early elections,” in addition to the file of the Speaker of Parliament.

 Information has recently circulated about discussions in the Shiite coalition to return once again to “multiple constituencies,” or to develop a new version of a “mix of laws” for the upcoming elections.

Last year, the “Framework” insisted on replacing the district system with “Saint-Lego,” which ultimately enabled it to obtain more than half of the provincial seats in the absence of the Sadrists.

The coordination framework was formed, following the results of the 2021 elections (conducted according to Saint Legault), which showed the superiority of Muqtada al-Sadr, the leader of the Sadrist movement. After Al-Sadr's retirement, in the summer of 2022, the coalition occupied more than half of the seats in Parliament, and a few months ago it took control of the presidency of Parliament, due to the "sudden" removal of former President Muhammad Al-Halbousi.

Elections: early or a full term?

Before Al-Sadr decided to leave politics in 2022, he had requested the dissolution of Parliament and holding early elections. At that time, he rejected the “framework” and stipulated before that that the House of Representatives be convened.

After that, the Shiite alliance gradually retreated from implementing Al-Sadr's demand, and all the "Framework" leaders, including Nouri al-Maliki, the leader of the State of Law, confirmed that there was no need for early elections.

Al-Maliki, according to informed sources, seems to have now backed away from that idea, in the context of the new transformations that occurred in the positions of the former Prime Minister, and his “flirting with Al-Sadr.”

The leader of the State of Law’s retreat from rejecting early elections is explained by a politician close to the “Frame” as “due to fear of the rise in popularity of Prime Minister Muhammad al-Sudani.”

The Sudanese who took over the government in late 2022, and according to American opinion polls, showed that more than 60% of Iraqis support his policy. Holding early elections is considered a "blocking of the road" for the Sudanese, and a revival of the ambition of Al-Maliki, who dreams of heading the government.

The leader of the State of Law said the day before yesterday, in a television interview: “The door to my return to the premiership is open... and I am ready if national duty calls me.” The gateway to early elections or obstructing the Sudanese from obtaining a second term appears to be an amendment to the electoral law.

Some Shiites share the "framework" with Al-Maliki's concerns, and are concerned about the duality of Khazali (the leader of Asaib) and the Sudanese. But on the other hand, these parties do not agree to hold early elections. Haider al-Abadi, who came to power after a crisis with al-Maliki in 2014, said, speaking about the prime minister’s term on a talk show: “The four-year period is not sufficient to complete the government program.”

Meanwhile, according to sources, the leader of the State of Law expects to overturn his refusal to hold early elections that will bring him closer to Al-Sadr.

In the recent television interview, Al-Maliki said: “I expect that there will be an agreement between the State of Law coalition and the Sadrist movement.”

The former Prime Minister relies on verbal messages that he constantly sends to Al-Sadr, and it was said recently that there are written messages that have reached Al-Sadr. These messages carry new calls to persuade the leader of the movement to return from the boycott, and Al-Maliki’s support for an electoral law that adopts multiple constituencies that were among Al-Sadr’s differences.

Al-Maliki says in the interview that he has information about the participation of the Sadrist movement in "the upcoming parliamentary elections." Bahaa Al-Araji, the dissident Sadrist, agrees with Al-Maliki, and believes in his statements that “Al-Sadr will soon return to political work.”

Al-Araji says, "Al-Sadr will sit with Al-Maliki if there is an interest for Iraq." In a hint to Al-Sadr to reject these messages, the day before yesterday, he thanked, in a statement, his supporters “who were patient and proved their loyalty, after we withdrew from the House of Representatives, so that we would not be a supporter of the corrupt.” In an interview with French Radio Monte Carlo last year, Al-Maliki said about his relationship with the leader of the Sadrist movement, that “the dispute with him will end soon.”

Presidency of Parliament

On the other hand, it seems that the previous understandings about the seat of Parliament Speaker have gone unheeded, after a sudden split occurred within the Sunni team close to the “Falcons of the Frame.”

Mahmoud Al-Mashhadani and Khaled Al-Obaidi, the two representatives belonging to the camp of opponents of Al-Halbousi, formed the “Al-Samoud” coalition a few days ago.

The crisis erupted when the judiciary decided on November 14, a few weeks before the last local elections, to terminate Muhammad al-Halbousi’s membership in Parliament, due to a fraud case.

Since then, neither party (Halbousi or the opposition) has obtained the majority to pass a new president, and the Shiites have been divided between the two camps.

A few days ago, the Sunni opposition team claimed that it had the majority, before Al-Mashhadani carried out a double coup; Once against Al-Maliki, once against his former team. Al-Maliki promised Al-Mashhadani to vote for him by electing Parliament Speaker, but the surprise was that the MP received only 48 votes.

After that, his camp abandoned him and supported Salem Al-Issawi for the presidency of Parliament, and the Shiites did not show their rejection of the only Sunni candidate except Al-Halbousi. Al-Mashhadani believed that the Shiites would not leave him after he provided a service in 2021 to the “coordination framework” when he disrupted the parliament session in which Al-Sadr was close to announcing the largest bloc, when the former was the Sunni leader.

But Al-Mashhadani’s recent position, the announcement of the new alliance, his support for Al-Halbousi’s party, and his “blessing” of the bloc in a statement, shows that the previous agreements have collapsed.



Ismaik: The solution to the dollar crisis in Iraq is “very simple”

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The economic expert, Hassan Ismaik, confirmed that the solution to the crisis of the high exchange rates of the US dollar against the Iraqi dinar is very simple.
Ismaik said in an interview with Al-Maalouma, “The foreign cash reserves that the Central Bank of Iraq owns are what preserve the value of the Iraqi currency, and because Iraq does not receive money except government money, and the private sector smuggles its money abroad.”

He added, “The Iraqi citizen does not trust the banking system in his country,” which means that there is a defect that must be fixed.

 Ismaik believes that "the solution is by placing the money obtained from the sale of crude oil, the main source of the Iraqi economy, as deposits in the central bank and attracting the hoarded funds." In the homes of Iraqis and also attracting the money of investors abroad, the private sector and investment companies.”
Ismaik continued, “The success of the solution is linked to Iraq’s development of the banking sector systems and it being an open and not closed system. Reinforcing his vision with leading regional models such as the Arab Gulf countries.”

He pointed out that “there is enormous money coming from the people and the private sector, as well as investment companies.”
He added that “Iraq only needs development in the banking sector system, clarity in this system and not being closed, because when we say it is forbidden to transfer dollars, and it is forbidden to buy with dollars, and it is forbidden to exchange for dollars, your value will immediately lose and decline, and the currency will fall.”

Ismaik stressed that “the dollar crisis ends when there is a solid banking system, as there is huge amounts of money with the people in their homes, and if this money goes to... Banks will change the equation, and the money of Iraq is Abroad will range, at a minimum, between 200-300 billion in deposits in banks.”
Since the end of the year 2022, Iraq has been facing a crisis in the exchange rate of the dinar against the dollar, after the United States took a number of measures to restrict the use of... The dollar is in Iraq and its possession is limited to certain parties, as the exchange rate is witnessing fluctuations and instability despite the measures taken by the Iraqi government and the Central Bank to control the exchange rate

The 
dollar crisis has been accompanied by variation in the methods of its solutions and treatment, especially among those who see it as a crisis that expresses structural imbalances in the system. Iraqi monetary policy, and among those who believe that resolving it requires only responding to it in an intelligent manner.


Ramadan without high prices.. Economy Parliament acknowledges the government’s success in controlling the market

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Today, Sunday (March 17, 2024), the Parliamentary Economy and Trade Committee confirmed the success of the Iraqi government, headed by Muhammad Shiaa Al-Sudani, in controlling food prices during the month of Ramadan.

Committee member Ruqaya al-Nouri told Baghdad Today, “The various government efforts of the Ministry of Commerce, security agencies, and other regulatory bodies have greatly succeeded in controlling food prices, preventing any manipulation of those prices, controlling the market, and preventing any exploitation of citizens.”

Al-Nouri stated that “the follow-up and monitoring campaign for all markets is ongoing and is not limited only to the beginning of the month of Ramadan, but rather it is ongoing and there are arrest campaigns for some who tried to manipulate prices, and the imposition of the law pushed to control the market and prevent cases of manipulation that occurred every Ramadan during the past years.” By some greedy people."

Through several measures, the relevant government agencies were able to reduce the prices of meat, which is the most prominent commodity whose prices rose during the past weeks and reached 25 thousand dinars for a kilo of lamb, and 20 thousand for veal, before prices dropped to between 12 and 18 thousand dinars for veal and lamb.


The European Union Ambassador: Government measures to combat corruption are very positive and we seek to support the national economy

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The European Union mission to Iraq praised the government decisions and measures taken by Iraq in the field of combating corruption.

The mission's ambassador, Thomas Seiler, said in a statement to the National Iraqi News Agency ( NINA ), that "
the Iraqi government taking the necessary legal and supervisory decisions and measures to combat corruption is a very positive matter, and therefore we are working closely with the government and parliament to diagnose the appropriate and correct steps in this aspect."

He explained, "The first step in combating corruption is to approve legislation supporting it, then followed by the other step, which is strengthening the institutions that implement these legislation."

He added, "Implementing the Public Contracts and Procurement Law, which the government submitted to Parliament and is currently being approved and then sent to the government to consider any new comments, will be a real guarantee for the implementation of those contracts and projects at the best price and highest quality, and eliminating any chance of corruption in those contracts." And projects.”

He went on to say, “In the joint meetings of the European Union with the government and parliamentary committees, we found encouragement and support to help in other economic and investment aspects, which is a very important matter for Iraq, the countries of the Middle East, and the Arab world,” indicating that “the European Union seeks to develop this relationship by supporting a lot.” It is one of the important societal sectors related to the economy.


Al-Kazemi calls for support for the “Sudanese brother”: He has a chance.. There is no resistance or opposition, and the budget is excellent

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"Regardless of our disagreement"

Al-Kazemi calls for support for the “Sudanese brother”: He has a chance.. There is no resistance, no opposition, and the budget is excellent

 

Former Prime Minister Mustafa Al-Kadhimi called for taking advantage of the opportunity of the current government headed by “brother” Muhammad Shiaa Al-Sudani, indicating that the current government has an opportunity to implement its government program in the absence of parliamentary opposition and the participation of all political forces in it.

Brother Muhammad Shiaa Al-Sudani has an opportunity to implement his government program. This is the first Iraqi government in which all political forces participate under the title “State Administration Alliance.”

There is also no parliamentary opposition, and also the withdrawal of Mr. Al-Sadr, and there is no movement for him, despite the presence of an excellent budget, the availability of the economic aspect, and social stability, and I hope that everyone will benefit from this opportunity.

As a result, he is the Prime Minister of Iraq and the president of all of us, regardless of our different viewpoints.

By nature, I believe in respect for everyone, and my message is that we must respect any opportunity for Iraq's success. As a result, the beneficiaries are the citizens throughout Iraq.

 

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