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Iraqi News Wednesday AM 1-20-21

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Parliamentary Finance: The Value Of The Dollar’s Exchange Will Remain High For Many Years

Pratha News Agency120 2021-01-20   The Parliamentary Finance Committee confirmed, on Wednesday, that the high price of the US dollar against the Iraqi dinar will continue for many years.

Committee member Shirwan Mirza said that the dollar exchange rate against the Iraqi dinar will remain high for the next three years, according to the Iraqi Central Bank’s plan to address the economic crisis and to fill the deficit in the financial budgets for the coming years.   Mirza added that the government has won at least 12 trillion dinars from its decision to raise the price of the dollar against the Iraqi dinar, as it will reduce the deficit in the federal budget for 2021. http://burathanews.com/arabic/economic/384799

Iraq Stock Exchange Closed Higher On Wednesday’s Trading Session

Economie| 03:10 – 01/20/2021 Baghdad – Mawazine News The Iraqi “Stock Exchange” index closed today, up by 0.44% from the previous session, stopping at 491.56 points.

The index recorded an increase in the shares of 4 companies, and a decrease in the shares of 7 others, while 14 companies maintained their share prices.  The number of shares traded reached 360,172,580 shares, with a value of 510,581,227 Iraqi dinars, obtained from the conclusion of 454 deals, including 25 joint-stock companies, out of 104 companies registered in the stock exchange.   https://www.mawazin.net/Details.aspx?jimare=138618

The Council Of Ministers Holds Its Regular Session Headed By Prime Minister Mustafa Al-Kazemi And Issues A Number Of Decisions

Today, Tuesday, the Council of Ministers held a regular session headed by the Prime Minister, Mr. Mustafa Al-Kazemi, during which the Independent High Electoral Commission was hosted.

During the session, Mr. Al-Kazemi stressed the need for all the state’s capabilities to support the Electoral Commission, and the directive to overcome all obstacles it faces.

His Excellency stated that he assured all political forces and legal and popular actors that the government will not conduct elections as agreed, and we have stipulated ensuring free, fair and fair elections, and we have made all efforts to ensure electoral security, indicating that the Iraqi people deserve early elections that express their aspirations and with real international monitoring and in accordance with fair procedures. .

During the session, developments in the work of the Committee to Strengthen Governmental Measures, in the areas of prevention and health control and awareness, were discussed, as the Minister of Health presented a detailed report on the developments of the pandemic in the country, and the governmental measures to confront it.

The Mayor also hosted Baghdad, and reviewed the Municipality’s procedures and plans for the advancement of the service and urban reality in the capital, in a manner that befits it and raises the level of services provided to its residents.

The Council discussed a number of topics on its agenda, and issued the following decisions:

First / Based on what was presented by the Independent High Electoral Commission, the date 10/10/2021 will be the date for holding early parliamentary elections, with the obligation to observe the procedures specified in Article (64) Of the constitution.

Second / Approval of the amendment of the Cabinet Resolution (289 of 2017), according to the following:

1- To exclude profitable companies sponsoring institutional clubs operating under the amended Public Companies Law (22 of 1997) from the aforementioned Cabinet Resolution.

2- Incorporating an amount (20,000,000) dinars, only two billion dinars for each club, which is divided into the budget (operational and investment), so that the aforementioned amount is disbursed to clubs according to the exchange sections prepared by the sports club.

Third / Approval of the draft law of the First Amendment to the Law Regulating the Lease of Agricultural Land and Owning the Right to Dispose of it to Agricultural and Veterinary Graduates (24 of 2013), which was audited by the State Council, and referred to the House of Representatives, based on the provisions of Articles 61 / Clause I and 80 / Clause II) From the constitution, taking into account the opinion of the General Secretariat of the Council of Ministers.

Fourth / Amendment (Article 7) of the Regulations for the Reconstruction Fund for Areas Affected by Terrorist Operations, regarding adding an agent from the Ministry of Immigration and Displacement to the Board of Trustees.

Fifth / Approval of the continuation of the placement of employees working in the Reconstruction Fund for Areas Affected by Terrorist Operations, until the completion of the procedures of the owners of the aforementioned Fund, with the aim of providing support in providing the elements for the return of the displaced to their areas and achieving stability in the governorates liberated from terrorism.

Sixth / Issue instructions for determining the amount of the regular entry visa fee to the Republic of Iraq, based on the provisions of Article (80 / Third) of the Constitution, and Article (36) of the Aliens Residence Law.

Information Office of the Prime Minister of  19 -Jan-2021    https://pmo.iq/press2020/19-1-202103.htm

Oil Surpasses $ 56 Thanks To US Stimulus Hopes

Pratha News Agency71 2021-01-20  Oil prices exceeded $ 56 a barrel today, supported by expectations that the new US administration will adopt huge stimulus spending to boost demand, as well as the restrictions imposed by “OPEC +” on production.

On Tuesday, US Treasury Secretary Candidate Janet Yellen urged lawmakers to take a major step in stimulus spending to mitigate the repercussions of the Corona pandemic. Analysts said that the dollar’s decline after these statements contributed to the rise of oil.

By 10:04 GMT, Brent crude was up 0.8 percent to $ 56.32 a barrel, after rising 2.1 percent on Tuesday. West Texas Intermediate crude jumped 1 percent to $ 53.49 a barrel.

Brent crude this month recorded its highest level in 11 months, reaching $ 57.42 a barrel, supported by Saudi Arabia’s pledge to further voluntary cuts in production, while most OPEC + member states agreed to keep production at its level unchanged next February.  Oil was further supported by expectations of lower US crude inventories. Analysts expect stocks to drop by 300,000 barrels.     http://burathanews.com/arabic/economic/384805

Cougar: There Is Cash Available For The January Payroll

Pratha News Agency74 2021-01-20   The Parliamentary Finance Committee set today, Wednesday, the end of this January, as a date for the payment of employees’ salaries

Committee member Jamal Cougar said that Finance Ministry officials confirmed, during their recent hosting of the Parliamentary Committee, that financial liquidity is available to disburse employees’ salaries for the month of January, and that it will be disbursed by the Ministry of Finance on the specified date at the end of this month

Cougar pointed out that paying the salaries of employees and retirees has nothing to do with the delay of Parliament in approving the General Budget Law.   http://burathanews.com/arabic/economic/384804

In The Document .. Parliament Publishes The Agenda For The Next Session And Sets Its Date

Time: 01/2021 14:56:09 Read: 2,613 times   Baghdad: Al Furat News} The Presidency of the House of Representatives published today, Wednesday, the date of the parliament session, after it was lifted last Saturday, following the announcement of the completion of the debate on the 2021 budget, in the House of Representatives.

A document issued by the Presidency and received by {Al Furat News} stated that “the House of Representatives will hold its sessions next Saturday (January 23, 2021), and the law of the Republic of Iraq joining the International Convention on Civil Liability for Pollution Damage to Oil-Based Ship Fuel for 2001 will be voted on.” .

Among the items on the agenda, the head of the Media and Communications Authority will be questioned, in addition to the first reading of the draft Social Security and Retirement Law for Workers.    LINK

Parliamentary Finance Reveals The Size Of The Spending Of The Three Presidencies In The Budget … And Promises The Employees

Time: 01/19/2021 22:06:42 Read: 18,577 times  {Baghdad: Al Furat News} The Parliamentary Finance Committee revealed, on Tuesday, the volume of expenditures of the three presidencies in the draft federal budget law for 2021, while employees promised to include promotions and bonuses.

The reporter of the committee, Ahmed Al-Saffar, said in a televised interview broadcast by the Al-Furat satellite channel, that “the total expenditures of the three presidencies in the budget amounted to 790 billion dinars, distributed as follows:

475 billion dinars, the total of the prime minister’s agreement is 81 operational and 97 capital for an investment environment.

60 billion dinars are total expenditures. Presidency of the Republic 255 billion dinars are the total spending of the House of Representatives,

adding that “the 2021 budget is one of the most difficult budgets in Iraq and was not built on previous foundations due to the lack of final accounts, nor does it reflect the financial and economic situation of Iraq and is devoid of providing job opportunities, addressing poverty, pressure spending and distributing Wealth in justice. ”

Al-Saffar continued,“ The economic crises are fabricated, and Iraq’s funds are sufficient to administer four countries, and we have two types of monetary and real income from goods and services. Parliamentary finance is in the process of making a major change in the budget and hosting continues. ”

He indicated that “the amendments will focus on scrutinizing all spending and allocation units, is it appropriate to work in the spending unit, whether for the ministry or in another institution,” pointing out that “the draft budget includes legal violations, including that the deficit does not exceed 3% of local production, which has exceeded 22%. ”

Al-Saffar stressed that “the committee is serious about amending all these matters and arriving at the result to a correct opinion that is in the interest of the country.”

Regarding the regional and center disagreement, Al-Saffar explained, “The Baghdad and Erbil dispute is old, and the oil file is completely thorny. The Ministry of Oil and the Sumo Company refused to fully receive the oil file from them. There are pending materials and others that need more hosting and meetings.”

Al-Saffar concluded by saying, “The budget will include promotions and bonuses for employees, and we will take into account the size of deductions.”   LINK

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