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More Iraqi News Tuesday PM 3-9-21

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The Regional Government Holds A Special Meeting On The 2021 Budget Bill

Kurdistan Regional Government  Money  and business  Economy News – Baghdad  The President of the Kurdistan Regional Government, Masrour Barzani, participated, on Tuesday, in a special meeting on the ongoing preparations to draft the Kurdistan Regional Budget Law for 2021.

The regional government said in a statement received by “Al-Eqtisad News”, that “discussions were held regarding the current financial situation in the region and the ongoing preparations for drafting the Kurdistan Regional Budget Law for the year 2021, as well as discussing the data, expenditures and estimated revenues of the ministries.”

The meeting stressed, according to the statement, “the importance of preparing a budget bill that takes into account all the possibilities and guarantees a realistic and transparent budget that depends on oil and non-oil revenues, as well as the fiscal deficit and actual expenditures, with the aim of enhancing transparency in public finances in the Kurdistan region.”

The meeting witnessed “discussions about the latest developments in the draft federal budget law for the year 2021, which it is hoped that the parliament will vote on it next week.”

The head of the regional government stressed, according to the statement, “the stable position of the Kurdistan region in order to reach a radical solution to the outstanding problems between the two sides, including the file of the region’s financial dues based on the constitution.”

Number of observations 35 Date of addendum 03/09/2021

https://economy-news.net/content.php?id=24379

Governmental Adviser: The Iranian Debt On Iraq Increases With Gas And Electricity Consumption

The appearance of Muhammad Saleh

Energy  Economy News – Baghdad  The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, announced that the accumulated Iranian debt on Iraq is from the purchase of gas and electricity, adding that the balance is variable and may increase with the consumption of gas and electricity daily and decrease upon payment.

Salih said in an interview with Al-Jazeera Net and seen by “Al-Eqtisad News”, that the accumulated money of Iranian companies is the value of Iraq’s purchases of gas supplied to Iraq’s power stations, as well as the price of supplying live electricity to some provinces, and these rights accumulate daily with the value of the supply .

Saleh explained that there is a complete ban from the United States on any dealings in dollars or foreign currencies in the form of bank transfers with Iran, indicating that there are humanitarian exceptions represented by the possibility of paying those accumulated rights in cash in favor of Tehran for needs such as food, medicine and some of the expenses of tourists coming to Iraq, and reimbursed from The accumulated amounts and those receivables are subject to criteria acceptable to all parties .

Saleh stressed that the balance is variable and may increase with daily gas and electricity consumption and decrease when paying.  Number of observations 116 Date of addendum 03/09/2021

https://economy-news.net/content.php?id=24370

Details Of The Talks Between Iraq And Egypt To Invest In Desert Areas

Economie| 02:57 – 09/03/2021  BAGHDAD – Mawazine News The Ministry of Agriculture revealed, on Tuesday, its discussions with the Egyptian side and its plans to support farmers, while indicating that it had provided agricultural products to citizens at reasonable prices in light of the Corona pandemic.

“The visit of Minister of Agriculture Muhammad Al-Khafaji to Egypt was successful and resulted in the beginning of real cooperation between Iraq and Egypt in all fields of the agricultural sector, both the plant and animal sectors, whether in the field of mechanization or information exchange operations,” ministry spokesman Hamid Al-Nayef said, according to the official agency.

He added, “There is no doubt that the Egyptian side deals with a vision of exchange and not investing in the desert in preparation for the advancement of the agricultural sector,” noting that “the implementation mechanism depends on financial abundance through the budget that has not yet been approved.”

Al-Nayef emphasized that “the ministry continues to support farmers and farmers in order to develop the agricultural sector, whether through seeds, fertilizers, pesticides and veterinary vaccines, in addition to feed,” noting that “the ministry’s plan depends on increasing support through an abundance of financial allocation.”

He continued, “The ministry’s other plan is to protect the product by curbing smuggling, and as it is known, developing agriculture is linked to protecting the product and preventing import.”

And between: “We have called for facilitating the passage of wheels loaded with various materials, and there is cooperation in this context with the security services.” https://www.mawazin.net/Details.aspx?jimare=144892

Continued High Oil Prices

Time: 03/09/2021 08:41:22 Read: 4,082 times  {Follow-up: Al Furat News} Oil prices rose today, Tuesday, due to expectations of a recovery in the global economy after the US Senate approved a stimulus bill worth 1.9 trillion dollars and due to a possible decline in crude oil inventories in the United States, the largest consumer of fuel in the world.

But the rise in the dollar and reduced fears of supply disruptions from Saudi Arabia, the world’s largest oil exporter, after an attack on its export facilities halted price gains.

May Brent crude futures rose 57 cents, or 0.84%, to $ 68.82 a barrel by 05:13 GMT, while US West Texas Intermediate crude for April rose 52 cents, or 0.78%, to $ 65.56 a barrel.

Yesterday, Monday, Brent crude prices rose above $ 70 a barrel after Yemeni Houthi forces launched drones and missiles at the heart of the Saudi oil industry, including the Saudi Aramco facility at Ras Tanura, vital for oil exports.

The attacks came after the Organization of the Petroleum Exporting Countries (OPEC), Russia and their oil-producing allies, known as OPEC +, last week agreed to broadly commit to production cuts despite higher crude prices.

US Treasury Secretary Janet Yellen said on Monday that President Joe Biden’s $ 1.9 trillion coronavirus aid package will provide enough resources to fuel a “very strong” US economic recovery. The House of Representatives has yet to pass the Senate version of the package into law.

A preliminary survey showed that stocks of crude oil and refined products in the United States likely declined last week, with distillate stocks falling for the fifth week in a row.  LINK

In The Document … The Decision To Withdraw The Hand Of The Director Of Al-Rafidain Bank And Refer It To The Investigation

Time: 03/09/2021 14:45:40 Read: 3,705 times  {Baghdad: Al Furat News} The Minister of Finance, Ali Allawi, issued an order to withdraw the hand of the General Director of Al-Rafidain Bank, the agency of {Hussein Ali Muheisen}.

According to the ministerial order of Allawi, the Euphrates News Agency obtained a copy of it. It was decided to “refer Muheisen” to the investigation because he signed a contract with an electronic payment company without completing the legal procedures.

And it was decided, according to Allawi’s order, to “assign {Bilal Sabah} Director General of the Industrial Bank, to walk the affairs of {Rafidain Bank} until the completion of the investigation.”  LINK

Economist: The Loans Will Exhaust The Country, And The Only Solution Is A Miracle In Oil Prices

17:19 – 08/03/2021   Information / Special …The economic expert, Aoun Al-Defense, revealed, on Monday, that the only solution to the financial deficit is a miracle in oil prices, and it does not lie in external and domestic borrowing, as it will greatly exhaust the state budget.

Al-Defense said, in a statement to the information agency, that “the rise in oil prices is positive, but it is not sufficient to address the problem of deficit and Iraq avoid the borrowing crisis,” stressing that “ Iraq needs a full year of continuing oil prices in a way that is not amenable to sudden crises in order to restore the economic balance. And it begins with addressing the fiscal deficit in the economy. ”

He added, “In the event that oil prices rise to above $ 80, the fiscal deficit will begin to shrink in the budget and the country will not need a new crisis, which is the potential borrowing that will be tantamount to mortgaging the house to the debtor.”

Al-Defense noted that “medicine on oil in the global market began to increase dramatically during this period and that the rise in Basra Light oil prices, which was overtaken by US Brent by 71 dollars against 70 dollars, is a positive matter, and an invitation to economists in the government to invest this increase.”

He pointed out that “economists believe that the next stage is the stage of vaccines and the war of great treatments, and therefore the trends of the oil market in the world following the increase in vaccines of the Corona virus, which increased the demand for oil in global markets, and this increase may cause an economic boom at the global level.”   https://www.almaalomah.com/2021/03/08/524275/

Ministry Of Communications: Launching The Digital Transformation Project In State Departments And Institutions

Today, Tuesday (March 9, 2021), a spokesman for the Ministry of Communications, Raad Al-Mashhadani, announced the launch of the digital transformation project in state departments and institutions.

Al-Mashhadani said in an interview with a connected modern program that is broadcast on Radio Nawa that the launch of the digital transformation project in the departments and institutions of the state will work to reduce financial corruption and reduce the burden of audits for the citizen in the routine of those departments, indicating through the electronic government and secret mail, the citizen will be able to promote and complete the transaction from Home.

A spokesman for the Ministry of Communications, Raad Al-Mashhadani, confirmed that Anbar would be the first to carry out digital transformation and automation, referring to approaching a number of ministries and government agencies to initiate it.    https://www.radionawa.com/all-detail.aspx?jimare=23826

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