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Iraqi News Thursday AM 4-1-21

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The House Of Representatives Votes On The 2021 Budget Bill And On Dissolving Itself

3/31/2021  The House of Representatives voted in its forty-sixth session, which was held under the chairmanship of Mr. Muhammad Al-Halbousi, Speaker of Parliament today, Wednesday 3/31/2021, and in the presence of 215 deputies, the Federal Budget Law for 2021 And a decision to dissolve the House of Representatives in preparation for early elections.

At the beginning of the session, the Council voted on the draft law of the Federal Budget of the Republic of Iraq for the fiscal year 2021, which came to frame the financial activities and operations of the ministries and entities not associated with a ministry and the governorates during the fiscal year and to determine the financial revenues, current and investment expenditures and the expected deficit and ways to address it to establish an accurate and transparent mechanism in the distribution of financial resources. To the state.

On the other hand, Mrs. Duha Rida Hashem was sworn in to fill the parliament in place of the former deputy, Abd al-Ilah al-Naeli, after the parliament voted to add the paragraph to the agenda.

The House voted on a decision to dissolve the House of Representatives on the seventh of next October, provided that the general parliamentary elections in the country take place on the tenth of October itself, based on a request submitted by 172 deputies.

After that, it was decided to adjourn the session to 4/10/2021

Media Department  House of Representatives  March 31, 2021  LINK

After Passing The Budget .. Economic Expert: The Exchange Rate Of The Dollar Will Stabilize In The Iraqi Market At 1470 Dinars

Pratha News Agency64 2021-04-01  The economic expert, Saleh Al-Hamashi, said, Thursday (April 1, 2021), that the exchange rate of the dollar will be fixed in the Iraqi market, at 1470 or 1480 dinars within less than a month.

It is noteworthy that the House of Representatives voted yesterday, Wednesday (March 31, 2021), on the budget law, which included in one of its paragraphs that the exchange rate of one dollar be 1450 dinars.

Al-Hamashi said in a press statement that “the price of the Iraqi dinar is 1450 dinars to one dollar as the price of the Ministry of Finance, while the price of the Central Bank is 1460 dinars, meaning that there is a (difference) of 10 points between the central bank and the Ministry of Finance.”

He added that “the price of the dollar will not rise to 1500 dinars, and will stabilize within less than a month at 1470 or 1480 dinars,” considering that “the MPs’ statements regarding the exchange rate have confused the currency in Iraq. ”

It is noteworthy that the selling price of the dollar in the Iraqi market was recorded today morning, Thursday, 146,400 dinars per 100 dollars, while the purchase price was 146,300 dinars.

Iraq Approves A Huge Budget To Develop The Third Largest Field In The World

Time: 04/01/2021 14:56:32 Read: 2,444 times  {Economic: Al Furat News} An executive official in the Iraqi oil sector said today, Thursday, that Iraq has approved an investment budget of about $ 1.15 billion for the year 2021 to develop the giant Majnoon oil field located in the south of the country.

“Iraq plans to increase production from the oil field to 450 thousand barrels per day from 130 thousand barrels per day currently within three years,” said Diaa Shaker, Majnoon field director.

The Majnoon field in southern Iraq is the third largest oil field in the world, and its estimated reserves by the Iraqi Oil Ministry are 12.6 billion barrels.   LINK

The Dollar Is Jumping In Iraq After The Budget Is Approved And Its Price Fixed

Time: 04/01/2021 09:59:56 Read: 11,830 times  {Economic: Al Furat News} The exchange rate of the dollar in Iraq jumped a day after the House of Representatives approved the 2021 budget and fixed the dollar exchange rate in it, according to what was approved by the Central Bank of Iraq at 1450 dinars.

The exchange rate in Baghdad was 1464 dinars to one dollar, or 146 thousand and 400 dinars for one hundred dollars.  In Erbil, the selling price was 1,465 dinars, and the purchase price was 1,460 dinars per dollar. LINK

A Kurdish Statement About Baghdad And Erbil’s Budget Commitments: It Has Three Advantages

Political| 12:27 – 01/04/2021  Baghdad – Mawazine News,  Head of the Change Bloc in the House of Representatives, Yusef Muhammad, on Thursday, said the approval of the 2021 budget is a step towards solving the economic problems in the country if compared with effective steps to combat corruption, indicating that it has 3 advantages.

The head of the bloc said, in a statement that Mawazine News received a copy of, that “some points of government reform programs have been placed within the framework of the budget law, and their approval is a step towards reaching the benefits to those who are entitled, especially from the poor and those with limited income.”

He added that “this year’s budget is distinguished by encouraging the advancement of infrastructure and investment in the agricultural and industrial sectors, in an attempt to reduce dependence on oil, in addition to reducing public expenditures,” noting that “the proposals presented by the Finance Committee led to a significant reduction in the financial deficit.”

Regarding the relationship between the federal government and the Kurdistan region and the agreement that led to the passage of the budget, Muhammad considered “this is a step in the right direction,” calling for “the implementation of commitments during the coming months to be a goodwill gesture towards resolving the differences between them, especially with regard to how to extract and export oil and gas in the region.” The region and regarding the region’s budget, and finding radical solutions to the existing problems. ”

The head of the bloc stated that “the approval of the oil and gas law in the near future will have a positive impact towards resolving the existing differences between the federal government and the region, and the budget included an item on reviewing all contracts with oil companies in a manner that achieves the highest benefit and is consistent with the principles of the constitution throughout Iraq,”

This represents a good opportunity for the region to renegotiate and balance some of the contracts concluded during the financial distress in the region, especially with regard to the oil pipeline that passes through the territory of the region to Turkey and the port of Bandar Ceyhan on the Mediterranean, and the secret and vague contracts and agreements with the Turkish side.

He emphasized that “the lesson in recent agreements and understandings is in their application, in order to achieve the advancement of the Kurdish citizen who has suffered both over the past years and solve all his economic and financial problems.”

Economic Expert Ihssan Al-Kinani Confirmed That The Prices Of Foodstuffs And The Local Market In General Will Rise More Than Before, After The Official Adoption Of The Current Dollar Exchange Rate In The Budget .

Economy  Thursday 1 April 2021 | 12:54 PM| Views: 54  Al-Kinani said that “the current exchange rate of the dollar has been decided in Parliament, provided that it remains as it is without any reduction, which is an official approval to besiege the people .”

He added that “the prices of food and the local market will rise from the current price, which is high compared to the past months, and therefore the rise will be doubled after the official announcement of the price of the dollar approved in the budget .”

And that “the citizen’s purchasing power will decrease significantly compared to last year, which will increase the poverty rate to more than 40 percent, in light of the lack of government measures to ensure that market prices, especially the local product, remain the same without any increase as a result of being affected by the high exchange rate of the dollar.”

Finance Announces Higher Customs Revenues

Thursday 01 April 2021  47  Baghdad: Morning   The Ministry of Finance announced the increase in customs revenues and the adoption of an economic policy in support of the state budget, while the media called for not reporting news that stirred up public opinion.

A statement by the ministry received by Al-Sabah stated, “The General Customs Authority has activated the supervisory and auditing role to reduce customs evasion and increase customs revenues. Attempts to smuggle more than 200 containers of various goods and confiscate more than 50 trucks in violation of the controls and instructions have been thwarted during the previous month.” .

The statement pointed out that “some parties publish incorrect news by pressing the General Authority of Customs of the Ministry of Finance, while the Authority is preparing for a new strategy with a broad horizon in line with the volume of work assigned to it, and according to the directions of the Minister of Finance to introduce the automation system in its work, to eliminate Corruption in the border crossings, which will contribute to real customs revenues, is a source of funding for the state’s general budget.

He added, “During the recent period, it has been observed that some agencies and television channels direct their link towards the owners of the Ministry of Finance and its departments, by fabricating some news and re-declaring previous statements in the interest of some parties and undermining the economic reform policy adopted by the Ministry of Finance.”

The statement called on “all media outlets to be careful and to adopt journalistic professionalism to report news and not to report news that contributes to stirring up public opinion.”  LINK

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