Iraqi News Highlights Monday Afternoon 12-19-22
Tlm724 Administrator Bondlady’s Corner
Parliamentary Economy: The Delay In Approving The Budget Negatively Affects The Completion Of Projects And Investments
Political | 03:11 – 12/19/2022 Baghdad – Mawazine News The Parliamentary Economy and Investment Committee confirmed today, Monday, that the delay in approving the budget negatively affects the completion of projects and investments, while indicating that there is a parliamentary movement to speed up the approval of the budget and improve the economy and investment in Iraq.
“The delay in approving the budget greatly affects the completion of projects,” said member of the committee, Representative Sardi Nayef, noting that “the budget constitutes 50 percent of the gross domestic product in Iraq.”
Nayef added, “The financial system in Iraq hedges with the financial management law in the event of any political emergency such as delay in approving the budget,” noting that “the financial management law replaces the budget, especially in regulating expenditures and revenues.”
He pointed out that “the budget is considered an annual plan for a period of one year, and in the absence of an annual plan, the actual current expenditures for the past year are used, and the old 1/12 of the actual current expenditures of salaries, wages and continuous payment obligations is repeated,” explaining that “this is not in it economic planning and vision.
And he continued: “Whenever the financial budget is disrupted and the months pass, this will repeat the goals of the previous fiscal year, and this will result in a contraction in projects and investments,” pointing to “intensified efforts in the House of Representatives to approve the budget as quickly as possible, address errors and aspire to improve the economy and investment in Iraq.” Ended 29 / h
https://www.mawazin.net/Details.aspx?jimare=214560
Expert: The Economic Decision In Iraq (Not Independent) And The Problem Of The Exchange Rate Is Not Technical
Economie| 11:11 – 12/19/2022 Baghdad – Mawazine News, economist Nabil Al-Marsoumi considered that the economic decision in Iraq is “not independent” and that the United States can “tamper” with the Iraqi economy and “disable its engines”, saying that the problem of the exchange rate is not technical but rather a political-economic one.
Al-Marsoumi wrote on his Facebook mural, “He studied the electronic platform!! The Americans suddenly discovered, after 18 years, that the window for selling foreign currencies in the Central Bank of Iraq contains loopholes that allow the smuggling of dollars to countries hostile to America and to armed groups, although this window is an industry.”
Purely American!! Therefore, the Americans once again created an electronic platform linking the US Federal Bank and the Central Bank of Iraq to track and restrict foreign transfers, which led to an increase in the price of the dollar in the Iraqi market.
He added, “What should be concluded here is that the economic decision in Iraq is not independent, and the United States can tamper with the Iraqi economy and disable its engines, and that the problem of the exchange rate is not technical, but rather political-economic, and the platform may be a warning or a prelude to subsequent American actions if Iraqi politics and its orientations deviate from it.” American visions and interests!! https://www.mawazin.net/Details.aspx?jimare=214540
The Rise In The Exchange Rates Of The Dollar Against The Dinar
Economie| 10:42 – 12/19/2022 Baghdad – Mawazine News The exchange rates of the dollar witnessed, on Monday, a slight increase in the local markets. Selling price: 151,600 dinars per 100 dollars Buying price: 151,500 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=214536
To Improve The Performance Of Dollar Transactions.. The Central Bank Issues Several Decisions
Monday, December 19, 2022 6:44 PM Baghdad / The National News Center The Central Bank of Iraq announced today, Monday, a package of decisions that would return the foreign currency market to its normal state.
In a statement received by the National News Center, the media office stated that “the Central Bank launched a package of measures to improve the performance of transactions related to the dollar, as follows:
1- Allowing the banks participating in the foreign currency buying and selling window to purchase any amounts in foreign currency and deposit them with this bank in accounts used for external transfer purposes, and to pay interest / returns on those balances according to what this bank decides.
2- Facilitating the financing of private sector trade through Iraqi banks and meeting the request for foreign transfers by strengthening the balances of banks with their correspondents in other currencies in addition to the US dollar (Chinese yuan, the euro, the Emirati dirham, the Jordanian dinar, and others).
3- Opening outlets for selling foreign currency in government banks to the public for travel purposes (treatment, Hajj Umrah, study, etc.)
4- Reducing the selling price of the dollar to the beneficiary (the card holder) that he uses while traveling or paying his purchases via the Internet, to be at a price of (1465) dinars to the dollar instead of (1470) dinars to the dollar. The dollar will be sold to electronic payment companies for the above purpose at a price of (1455) dinars to the dollar instead of (1460) dinars to the dollar.
The Recovery Of Demand In China Raises Global Oil Prices
Economie| 08:36 – 12/19/2022 Follow-up – Mawazine News Oil prices regained their strength, Monday, after falling by more than two dollars a barrel in the previous session, with optimism about the reopening of China and the recovery of oil demand overshadowing fears of a global recession.
Brent crude futures rose 77 cents, or 0.97 percent, to $79.81 a barrel by 03:30 GMT.
US West Texas Intermediate crude recorded $75.01 a barrel, up 72 cents.
https://www.mawazin.net/Details.aspx?jimare=214525
The House Of Representatives Promises To Legislate The Oil And Gas Law Away From Political Tensions
Monday 19, December 2022 11:24 | Economical Number of readings: 260 Baghdad / NINA / – The House of Representatives pledged to seek to legislate the oil and gas law in a way that secures a solid legal environment for work and investment in the oil and gas sector, away from political tensions.
The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, said, during the preparatory forum for the “Iraq Eighth International Conference and Exhibition for Oil, Gas and Energy,” which kicked off Monday morning in the capital, Baghdad, that “the obvious and undeniable fact is that oil is of great importance in the present and future of Iraq.”
We must strive to perpetuate this wealth and develop it in industry, production and organization,” referring to the importance of the gas wealth that is still being lost to us despite its global importance, which requires all of us to address this imbalance and start real gas production in a way that makes it synonymous with oil wealth.
He added, “The export of oil after 2003 witnessed a remarkable development through a significant
And he continued: “This year witnessed the opening of the Karbala refinery, and we aspire to build refineries in other governorates and develop the existing ones to achieve self-sufficiency, in a way that secures the need for oil derivatives for local consumption, operating power stations and securing what the private industrial sector needs,” calling for seriously developing work to develop the sector. Oil, whether the relevant ministries or national companies and the local and investment private sector.
Al-Mandalawi urged the political forces to work seriously to resolve all problems related to this file so that the House of Representatives could move forward to legislate the long-awaited oil and gas law./ End 5 https://ninanews.com/Website/News/Details?key=1021233
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