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More Iraqi News Tuesday PM 8-18-20

TLM724 Administrator BondLady’s Corner

A New Decline In The Dollar In Iraq

Time: 08/18/2020 10:09:17 Read: 7,592 times

{Baghdad: Al Furat News} Today, the foreign currency markets in Iraq recorded a new decline in the exchange rate of the US dollar against the Iraqi dinar.

The selling and buying prices of the dollar in exchange companies and offices were as follows:

The selling price of one dollar was 1230 dinars, or 123 thousand dinars for one hundred dollars.

The purchase price of the dollar is 1220 dinars, or 122 thousand dinars for one hundred dollars.

Foreign exchange rates, gold and crude oil until the preparation of this news:

The euro The global price: 100 euros = 118.96 pounds

The sterling The global price: 100 pounds = 131.57 dollars of the Turkish lira

The world price: 100 dollars = 739.67 Turkish lira

The price of an ounce of gold worldwide = 2003.17 dollars,

The price of a barrel of Brent crude oil = 45.17 dollars,

The price of a barrel of US crude oil = 42.90 dollars.   LINK

Baghdad Asks For An Exemption From The 2020 Budget To Complete 2019 Projects

Reconstruction and building  Economy News _ Baghdad   Baghdad governorate said that the launch of the package of water, sewage, health and housing projects approved by the Ministry of Planning within the budget for the year 2019 depends on the approval of the Prime Minister to exclude the capital from the current year 2020 budget.

The technical deputy of Baghdad governorate, Ali Al-Ithawi, said that “the governorate’s budget for the past year included a number of projects in different sectors, including water, sewage, health and housing, which were approved by the Ministry of Planning, but it was not implemented due to the financial crisis and the failure to pay any dues for its implementation.” “.

He added that “the province, given its urgent need to implement these projects, has submitted a request to the Prime Minister that includes excluding the province from the current year 2020 budget, and disbursing exceptional sums to it to launch an important package of projects.”

Al-Ithawi added that “the province, and within its plans for the housing sector, prepared designs for residential lands in the regions of the outskirts of Baghdad, including Bismayah, Al-Nahrawan, Al-Nasr and Al-Salam.”   Number of observations 42 Date of addendum 08/18/2020

https://economy-news.net/content.php?id=21477

After The Government Granted An Amount Of 320 Billion Dinars To Kurdistan … Al-Kaabi Calls On The Government To Assume Legal Responsibility Towards The People, And Affirms: Kurdistan Must Hand Over Its Revenues To Baghdad

08/18/2020  Hassan Karim Al Kaabi, First Deputy Speaker of Parliament, called on the Council of Ministers to assume legal and moral responsibility towards the people in accordance with the principle of justice, equality and the public interest of the state, while he called on the Kurdistan Regional Government to end the file of handing over its revenues to Baghdad, considering that this file imposes many and heavy burdens on the Baghdad government And our people in the region.

And His Excellency confirmed in a statement today, Tuesday, August 18, 2020: The 2019 budget passed through exceptional circumstances, as discussions were held between the federal government and the Kurdistan Regional Government aiming to conclude a final agreement with the regional government to reach a final solution related to the delivery of oil exported from the region to Baghdad, and Al-Kaabi asked.

By any right or legal cover, the Kurdistan government shall deliver the monthly amounts without auditing the financial control, and the oil revenues and other revenues collected in the region shall be handed over to the Federal Ministry of Finance after the end of the 2019 Budget Law on December 31, 2019.

Al-Kaabi was surprised by the talks and discussions between the regional government and the government of Mr. Al-Kazemi, which ended with a decision whereby the regional government was handed over 320 billion Iraqi dinars without handing over to the taxes, fees collected, resources of border crossings and airports, and exported oil revenues to the federal government.

The First Deputy Chairman pointed out that the Council of Ministers, in one of its previous sessions, issued a decision to grant the Iraqi Ministry of Health and the afflicted Dhi Qar Governorate an amount of 50 billion dinars to fill the shortfall in the needs of facing Corona and the urgent requirements of the Iraqi people, but the lack of cash led to lack of funding The Ministry of Health and Dhi Qar, wondering how to spend 320 billion dinars for the regional government in light of these critical circumstances that our dear governorates suffer from, which reach the point of not allocating amounts that cover even the expenses of “stationery” in its departments.  The Media Office of the  First Deputy Speaker of Parliament  8/18/2020   LINK

TLM724:   We will have to watch what the Kurds do. If they hand over the revenue and oil to Baghdad then we may have the HCL settled

Al-Kaabi: Kurdistan Should Hand Over Its Revenues To Baghdad

Time: 08/18/2020 14:46:44 Read: 2,093 times  {Baghdad: Al Furat News} Hassan Karim Al-Kaabi, First Deputy Speaker of Parliament, called for the Kurdistan region to hand over oil revenues to Baghdad.

Al-Kaabi demanded in a statement that Al-Furat News received a copy of it: “The Council of Ministers shall bear legal and moral responsibility towards the people in accordance with the principle of justice, equality and the public interest of the state, while calling on the Kurdistan Regional Government to end the file of handing over its revenues to Baghdad, considering that this file places many and heavy burdens on the Baghdad government. And our people in the region. ”

He stressed that “the 2019 budget passed through exceptional circumstances as discussions were held between the federal government and the Kurdistan Regional Government aimed at concluding a final agreement with the regional government to reach a final solution related to the delivery of oil exported from the region to Baghdad.”

Al-Kaabi asked, “In any right or legal cover, the monthly sums are delivered to the Kurdistan government without auditing the financial control, and the oil revenues and other revenues collected in the region are handed over to the Federal Ministry of Finance after the end of the 2019 budget law on December 31, 2019.”

Al-Kaabi was surprised by “holding talks and discussions between the regional government and the government of Al-Kazemi, which ended with a decision whereby the regional government was handed over 320 billion Iraqi dinars without handing them over to the taxes, fees collected, resources of border crossings and airports, and exported oil revenues to the federal government.”

He pointed out that “the Council of Ministers, in one of its previous sessions, issued a decision to grant the Ministry of Health and the afflicted Dhi Qar Governorate an amount of 50 billion dinars to fill the shortfall in the needs of facing Corona and the urgent requirements of the Iraqi people, but the lack of cash led to the failure to finance the Ministry of Health and Dhi Qar.”

Wondering how to spend 320 billion dinars for the regional government in light of these critical circumstances that our governorates suffer from, which reach the point of not allocating amounts that cover even stationery expenses in their departments.   LINK

The Federal Government Clarifies The Details Of The Financial Settlement With The Kurdistan Region

Money  and business  Economy News – Baghdad  The Ministry of Finance affirmed its commitment to its constitutional duties in economic and financial reform and the management of public finances, including its obligations towards the Kurdistan Regional Government, without the existence of the draft Federal Budget Law for the year 2020.

“When the government took over in May 2020, it was decided not to proceed immediately in drafting the 2020 budget until oil prices stabilize in world markets for the purpose of knowing the most obvious revenues,” the ministry said in a statement seen by “Al-Eqtisad News”. The ministry also had to compensate Revenues resulting from the collapse of oil prices, reduced demand for it, and Iraq’s obligations under the OPEC Plus agreement. ”

She pointed out that “the Corona virus epidemic has led to the emergence of additional demands on state expenditures as well as very large additions to public salaries as a result of previous government commitments in the field of employment and employment, and the Ministry of Finance must also deal with the large number of new graduates who are waiting for jobs from The state in light of the instability of oil prices on the world markets and the decline in revenues from it.

The ministry added that “during the month of May 2020, the government agreed to transfer (400) billion dinars to the Kurdistan Regional Government in a state of emergency to meet the demands of regional government employees who had not received their salaries for several months, and this funding was subject to entering into discussions with the regional government to solve all The outstanding issues between the federal government and the regional government regarding oil and non-oil revenues.

And she continued, “The discussions have started in multiple rounds to reach a final agreement in light of the mutual obligations between the two sides and based on the original agreement, the Ministry of Finance has not made any financial transfers to the region since the April payment.

However, the financial conditions of the Kurdistan Regional Government have deteriorated and requests have been submitted again to The Ministry of Finance to provide it with financing in order to meet the expenses of the salaries of its employees. ”

The ministry indicated that “a seven-point agreement (attached) has been concluded between the prime minister and the prime minister of the regional government, which was concluded on 8/15/2020 on the basis of which the Ministry of Finance was invited to finance (320) billion dinars in August / 2020 to the region, And that this amount is based mainly on the ministry’s estimates of the region’s share of federal expenditures, and from it the estimates of the Ministry of Finance on the region’s oil and non-oil imports.

She added, “The Ministry considered that the aforementioned amount in light of the current circumstances and within the framework of the goodwill atmosphere that prevailed in the discussions between the federal government and the Kurdistan Regional Government, and based on the fact that the funding request submitted by the General Secretariat of the Council of Ministers,

which includes the approval of the legal department therein, falls within reasonable and will be amended later by an increase or The decrease in the final calculation between the federal government and the regional government, and based on all that, the Ministry of Finance approved this request on 8/17/2020 and authorized the financing of an amount of (320) billion dinars to the Kurdistan Regional Government for the month of August / 2020.

The Ministry of Finance affirmed “the necessity to proceed with the dialogue to implement the attached interim agreement regarding customs and oil revenues, the region’s commitment to the OPEC Plus agreement and settlement of the debts of the Iraqi Trade Bank TBI, and this must be done within 30 days.”

She revealed that “the total funds made by the Ministry of Finance since the beginning of this year are (1,360) trillion dinars through the previous government and (720) billion dinars by the current government with a total of (2.080) trillion dinars.”

Finance concluded its statement by saying: “The Ministry of Finance will present the draft budget law for the year 2020 before the end of next September of this year, and the funds will be determined to the regional government. Allocated to the region, and the Ministry of Finance will finally clarify the financial basis for the funding for the regional government in the 2021 budget. Number of observations 55   Date of addendum 08/18/2020    https://economy-news.net/content.php?id=21470

The Economic Value Of The Decisions Of The General Secretariat Of The Council Of Ministers Between The Noise Of The Media And Ambition

Economic researcher Abdul Hamid Abdul Hadi Hamid   Articles  Abdul Hamid Abdul Hadi Hamid *

Observers and specialists in economic affairs are not a secret to the economic crisis that the Iraqi economy is going through due to the emergence of the Corona virus and its repercussions and the significant decline that occurred in global oil prices during the first quarter of this year,

as well as the October demonstrations that demanded reform and on their effects the previous government resigned and the formation of a government Al-Kazemi, as the voices and demands for economic reform and the media clamor were very large in a country that did not approve the state budget law, which is the main reference for the implementation of the financial policy and public expenditures in the country and every spending item in the Iraqi government depends on it according to the budget law, and in a transfer to shed light on decisions The important economic issue in the General Secretariat of the Council of Ministers from the date of the formation of the new government.

To my great regret, no decision has been taken that affects fundamental reform except for the draft law on internal and external borrowing to finance the budget deficit for the year 2020 in its regular session and sent to the Council Representatives, which is not a decision of a substantive reformist nature, but rather a decision to finance uncontrolled public expenditures and not to finance investment or production expenditures through which the ability to repay debt and interest installments.

As it is evident through the government’s role and trends, it appears that it has not paid any attention to the economic crisis and its long-standing and deep-rooted fundamental solutions, and that the main concern is the salaries of non-productive employees who are forcibly unemployed due to weak government decisions and the absence of a strategic economic vision capable of employing the human element and investing it in an optimal way to transform it from a burden on the sector The year becomes an important factor in the economic equation.

As a reminder, despite the recovery in oil prices and touching $ 45, there is a monthly deficit of three and a half trillion dinars in our necessary expenditures.

Will the financing continue to be borrowed? Is the domestic financial sector able to continue financing and withstand the pressure? Is the second step external borrowing after the month of September? What is the fault of future generations who are deprived of services and employment, and burdened with debts and benefits? There are no solutions to remember and no decisions see the light in the short term

*Economic Researcher  Number of observations 112, date of addendum 08/17/2020

https://economy-news.net/content.php?id=21467

Citizens Of The Center And The South Pay The Price For Al-Kazemi’s “Collusion” With Kurdistan

Editing date: 18/8/2020 18:16 • 25 times read  [Baghdad-Where]  MP for the Al-Fateh Alliance, Ahmed Al-Kinani, considered, Tuesday, that the government of Prime Minister Mustafa Al-Kazemi colluded with the Kurdistan region at the expense of the citizens of the center and the south.

Al-Kinani said that “the federal government has made major concessions to the Kurdistan region despite the latter’s failure to adhere to the justified agreements between the two parties,” noting that “there are problems that cannot be overlooked between the center and the region and must be solved in accordance with the law and the constitution.”

He added that “the Al-Kazemi government colluded with the Kurdistan region at the expense of the citizens of the center and the south,” indicating that “the region has not committed itself to paying the financial dues resulting from it and this is against the law.”

A member of the Parliamentary Finance Committee, MP Ahmad Mazhar al-Jubouri, confirmed today, Tuesday, that it is not permissible for Prime Minister Mustafa al-Kazemi to grant money to the Kurdistan region.    http://www.alliraqnews.com/modules/news/article.php?storyid=98423

Deputy: The Government Agreement Does Not Place Any Financial Obligations On The Kurdistan Government, Which Does Not Pay The Center A Single Penny From Its Revenues

Tuesday 18, August 2020 17:10 | PoliticalViews: 68   Baghdad / NINA / The Parliamentary Approach Bloc criticized the recent agreement between the federal government and the Kurdistan region.

MP Hussein Al-Uqabi referred to the statement of the Ministry of Finance, in which it confirmed the Kurdistan Regional Government’s disavowal of its legal obligations to deliver oil revenues and ports to the federal government, and the accusation to the region’s authorities of not paying the salaries of employees that were sent in the previous payment (400 billion dinars).

He said, in a press statement, that “the federal government surprised us with a miserable and humiliating agreement for the Iraqi state to hand over the region a second payment of 320 billion dinars in exchange for floating, loose and unclear commitments by the regional government,” noting that “this agreement gives the impression that it is an agreement between two states and two governments.”

“There is no federal government and a regional government that is subordinate to it and is subject to its authority and governance, which unfortunately establishes the principle of equal power duality between the center and the region.”

He added, “The slightest contemplation of the text of the agreement finds it loose and does not arrange any financial obligations on the regional government, which collects large sums of money from the revenues of the border crossings and the export of oil and does not pay the center a single penny from it.

Rather, it demands the central government to pay the salaries of the region’s employees, and it is one of its obligations that it disavows as usual. “, Stressing that” this is underestimation, fraud, fraud and extortion practiced by the Kurdistan Regional Government, and any submission, abuse and dishonor we are witnessing from the Al-Kazemi government as it is subject to bargains by the regional authority, which monopolizes the money deducted from the region’s oil revenues and its outlets. ”

Al-Uqabi asked, “Can the federal government know the amount of the region’s revenues from oil and outlets for this year and previous years in light of the opacity and lack of transparency and fraud by the regional government? And why should the central government pay the region’s debts while it does not know its size and amount, who is benefiting from it and who is responsible?”

Where? “, Indicating that” the evidence points to the Kurdistan Regional Authority’s acquisition of oil revenues and outlets that the region’s parliament and government do not know exactly how much. “/ End

https://ninanews.com/Website/News/Details?Key=850625

The Central Bank Of Citizens: Do Not Hoard Your Money In Homes … And It Offers An Alternative

Time: 08/18/2020 14:55:47 Read: 4,472 times   {Baghdad: Al Furat News} The Central Bank of Iraq called on all citizens to deal with banks and financial intermediation companies licensed by this bank, during large cash exchanges, instead of hoarding in homes.

“The central bank seeks, through this, to preserve the money supply for citizens, avoid cases of theft and fraud, and promote counterfeit currencies,” said a statement issued by him, who received the Euphrates News Agency.

The bank stressed “the need to reduce trade exchange in paper currencies, which medical studies have proven to be an effective vector for viruses and bacteria, especially as the country is going through a crisis of spreading the Coronavirus.” Suspect

The Central Bank adopts the mechanisms of spreading financial inclusion in Iraq, which enhances the banking culture and the shift to monetary exchange through all forms of banking transactions with modern technologies.   LINK

The Central Bank Calls On Citizens To Deal With Banks In Monetary Exchanges

Tuesday 18, August 2020 16:33 | EconomicalViews: 54  Baghdad / NINA / The Central Bank of Iraq called on citizens to deal with banks in monetary exchanges.

The Central Bank confirmed in a press statement: “We seek to preserve the money supply for citizens and avoid cases of theft and fraud.” / End 7   https://ninanews.com/Website/News/Details?key=850623

More Than 5 Billion Dinars, The Total Revenues Of The Customs Centers, On Monday

Tuesday 18, August 2020 13:29 | EconomicalViews: 69   Baghdad ( NINA ) – The General Authority of Customs announced that its revenues on Monday in its customs centers amounted to more than five billion dinars.

And the authority added in a statement, which the Iraqi National News Agency ( NINA ) received a copy of, that “revenues amounted to more than five billion dinars despite the zero customs duties on many goods and the lack of imports due to the closure of most border centers due to the Corona pandemic.” / End 2 https://ninanews.com/Website/News/Details?key=850584

The Iraqi Parliament Reveals: A Government Decision Prevented Us From Holding The Sessions

Political  Tuesday 18 August 2020 | 06:04 pm| Views: 66    Today, Tuesday, a member of the crisis cell in the Iraqi parliament on the Coronavirus revealed the existence of a government decision that prevented the Council from holding its sessions during the last period .

Abbas Aliwi said, “One of the main reasons for not holding the Iraqi parliament sessions was the government crisis cell’s reluctance to any gatherings, especially since the number of parliamentarians is more than 300, and here is a danger to the spread of the virus among them, especially there are a lot of virus infections among the ranks of MPs, protections and employees in parliament. “.

Regarding the number of injured people in the Iraqi legislative building, Aliwi said, “There is no official number, but there are many injuries .”

He added, “The Iraqi parliament is at the present time on a legislative vacation, and at the beginning of next month, this holiday ends and resumes holding its sessions, but according to strict health and preventive measures.”   https://aynaliraqnews.com/index.php?aa=news&id22=137529

Nassif: Any Agreement With Kurdistan That Includes Sending Sums Of Money Is Totally Rejected

Political  Tuesday 18 August 2020 | 10:07 am| Views: 107

Representative Alia Nassif confirmed, on Tuesday, that any agreement with the Kurdistan region that includes sending sums of money is totally and completely unacceptable, because the region’s oil revenues are completely evaporating, whether the region sells it publicly or is smuggled.

Nassif said, in a statement received, that “if our Kurdish people were to benefit from these funds as salaries and wages paid to simple people, no one would object, but we are aware that the money will not be spent for them and the poor will remain poor and the rich will grow richer.”

Nassif addressed the region’s authority: “In what law and what heavenly law did your bread for you and share bread with fifteen governorates? Didn’t 17 years of stealing your people’s food suffice ?! Dinars from the oil revenues of other provinces?

And she continued, “The House of Representatives must take a clear position expressing its rejection of any agreements that include sending money to the regional government,” stressing that ”   https://aynaliraqnews.com/index.php?aa=news&id22=137498

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