Iraqi Economic News & Points to Ponder Friday Afternoon 9-8-23
Tlm724 Administrator Bondlady’s Corner
Al-Awadi: The Regional Government Did Not Hand Over Oil And Non-Oil Revenues As Required By The Budget Law
Political | 09/08/2023 Baghdad – Mawazine News Government spokesman Bassem Al-Awadi confirmed today, Friday, that the federal government has fully implemented its financial obligations towards the Kurdistan region.
Al-Awadi said in a blog post on the “X” platform (formerly Twitter): “The federal government has fully implemented its financial obligations towards the Kurdistan region, and has made great efforts to provide solutions,” noting that “as of the end of June, the funds owed by the region amounted to more than three times as much.” The region’s share, according to the state’s actual spending, while the regional government did not deliver oil and non-oil revenues as required by the Federal Budget Law.”
He added, “Despite the regional government’s lack of commitment, the federal government took a decision not to hold Iraqi citizens in the region responsible for non-compliance, and we worked as permitted by law by taking a decision in the Council of Ministers to lend to the region until its financial problems are fundamentally resolved.”
Al-Awadi stressed that “the federal government is as keen on the rights of citizens in the Kurdistan region as it is on the rights of citizens in other governorates, and that adherence to federal laws and agreements concluded, under the constitution, is the shortest path to completing financial transfers and enhancing confidence.” https://www.mawazin.net/Details.aspx?jimare=234608
Oil Prices Are Heading Towards Recording Weekly Gains Despite Their Decline
Economy | 09/08/2023 Baghdad – Mawazine News Oil prices fell today, Friday, in light of concerns about the slowdown in global demand for black gold, but prices are heading towards recording weekly gains after the decisions of Russia and Saudi Arabia.
US crude futures contracts were trading, by 10:01 Moscow time, at $86.45 per barrel, a decrease of 0.48% from the previous closing price.
While global Brent crude futures contracts were trading at $89.64 per barrel, a decrease of 0.31% from the previous settlement price, according to Bloomberg data.
Despite the decline in black gold prices today, they are heading towards recording weekly gains after rising this week above the level of $90 per barrel, which is the highest level since November 2022, and the rise came after Saudi Arabia and Russia extended supply cuts. Ended 29/h
The federal government says that it has fully implemented its financial obligations towards the Kurdistan Region
money and business Economy News _ Baghdad Federal government spokesman Bassem Al-Awadi said on Friday that the government has fully implemented its financial obligations to the Kurdistan Region, adding that the regional government did not deliver oil and non-oil revenues to Baghdad.
Al-Awadi said in a previous post on the “X” Twitter website, “The federal government is as keen on the rights of citizens in the Kurdistan Region as it is on the rights of citizens in other governorates,” adding that “adherence to federal laws and agreements concluded, under the constitution, is the shortest path to completing transfers.” Finance and enhancing confidence.
He also stated, “As the Federal Budget Law required its delivery, despite the regional government’s lack of commitment, the federal government took a decision not to hold Iraqi citizens in the region responsible for non-compliance, and we worked as permitted by the law by taking a decision in the Council of Ministers to lend to the region until its financial problems are fundamentally resolved.”
Al-Awadi continued by saying, “The federal government has fully implemented its financial obligations towards the Kurdistan Region, and has made great efforts to provide solutions. Until the end of June, the funds owed by the region amounted to more than three times the region’s share, according to the state’s actual spending, while the regional government did not hand over oil revenues.” And non-oil.
The day before yesterday, Wednesday, the Council of Ministers of the Kurdistan Region called on the federal government in Baghdad to disburse the financial entitlements to the region in the amounts included in the budget tables, urging the international community to support the Kurdistan Region in obtaining its constitutional rights and financial entitlements in accordance with the constitution and the signed agreements.
Yesterday, Thursday, the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, described the failure of the federal government in Baghdad to send financial dues to the region, in violation of constitutional agreements.
Barzani wrote, in a blog post on the X website (formerly Twitter), that “Baghdad’s refusal to send our financial dues confirmed in the federal general budget is a violation of constitutional agreements, harms our citizens, and undermines confidence.”
Views 79 09/08/2023 – https://economy-news.net/content.php?id=36202
Parliamentary Committee For / Nina /: Important Laws That Parliament Will Enact During The Upcoming Sessions
Thursday 07, September 2023 | political Number of readings: 409 Baghdad / NINA / The Parliamentary Labor Committee and civil society organizations revealed a package of important laws that will be legislated during the sessions of the current legislative term.
Committee member MP Amir Al-Mamouri stated, in a statement to the National Iraqi News Agency ( NINA ), that “the House of Representatives is committed to legislating important laws during its current legislative term, as the Presidency of Parliament has adopted joint deliberative meetings for the heads of parliamentary blocs and committees, and work is still continuing to advance the legislation of these laws during Next sessions.”
He added, “The laws currently in the custody of the House of Representatives, some of them are proposals prepared by the representatives and others sent by the government for the purpose of legislating them, but there are priorities for presenting these laws, which Parliament is keen to proceed with legislating.”
He explained, “The oil and gas legislation, the civil service, and other important laws pertaining to the health, higher education, and service sectors, some of them have been decided, but there are amendments that must be completed before the final vote, and some of those laws are subject to political controversy, as in the “Oil and Gas Law,” where the delay process occurred. It is not within Parliament, but there are political consensuses in the process of preparing to crystallize it, which led to its delay.”/End 5 https://ninanews.com/Website/News/Details?Key=1076072
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Points to Ponder From Aristotle:
Bring your desires down to your present means. Increase them only when your increased means permit.
Dignity does not consist in possessing honors, but in deserving them.
Education is an ornament in prosperity and a refuge in adversity.
Even when laws have been written down, they ought not always to remain unaltered.
He who is to be a good ruler must have first been ruled.
I count him braver who overcomes his desires than him who conquers his enemies; for the hardest victory is over self.
In a democracy the poor will have more power than the rich, because there are more of them, and the will of the majority is supreme.
Inferiors revolt in order that they may be equal, and equals that they may be superior. Such is the state of mind which creates revolutions.