Iraqi News Highlights Late Friday Evening 11-4-22
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance Clarifies About The Return Of The Dollar Exchange Rate
Information / Baghdad… A member of the Parliamentary Finance Committee, Jamal Koger, said on Friday that the change in the dollar exchange rate is related to the decisions of the central bank, pointing out that the bank has assurances that the exchange rate will continue without any change at least during the next year.
“Going in the direction of changing the dollar exchange rate is not possible, and this was confirmed by the central bank as the official body concerned with this issue,” kuger told Al-maalouma.
“The central bank’s assurances that the current exchange rate will remain constant indicates that the exchange rate will continue to be set next year without any change,” he added.
“The talk by some MPs about going towards devaluing the dollar against the dinar is just statements, especially since there are those who do not know the official body authorized to make this change,” he said.
Prime minister Mohammed al-Sudani had confirmed earlier that the exchange rate relates to the central bank as the authorized body to change the value of the dinar against the dollar, amid demands from some political parties to make the change
https://almaalomah.me/news/economy/المالية-النيابية-توضح-بشأن-إعادة-سعر-صرف-الدولار
The Association Of Banks Weighs The Figures Of The 2023 Budget Expenditures And The Reserves Of The Central Bank
Yesterday’s economy, 12:24 Baghdad-WA-Mustafa al-Hashimi The adviser to the Association of Iraqi private banks Samir Al-nusairi predicted on Friday that the expenses within the federal budget law for the fiscal year 2023 will not be less than 125 billion dollars, taking advantage of the abundance available in the state treasury.
Al-nusairi told the Iraqi News Agency (WA):
“it is necessary to maintain the growth rate in GDP according to the expected 9.3% and
the central bank continues to maintain the stability of the current exchange rate and
not change it at all, and
maintain its foreign reserves, which are expected to reach more than 90 billion dollars over the next two months,”
stressing the need not to interfere in the monetary policies adopted by the Central Bank of Iraq to contribute to stimulating and stimulating the economy and achieve its goals set out in its law in force.
He called for “preparing a draft budget law and sending it to the Council of ministers for discussion and approval and then submitting it to the House of Representatives before the first of December 2022, bypassing the previously approved methods of balancing items and figures and moving to balancing investment and production programs and plans so that the government can work and start implementing the economic reform programs contained in the government curriculum”.
“I expect that next year’s budget expenditures will not be less than 125 billion dollars, taking advantage of the abundance available in the state treasury, at an oil price ranging between 70-75 dollars per barrel and with a production and marketing ceiling not less than the one achieved for 2022, taking advantage of the abundance available in the Treasury now,” Al-nusairi continued, proposing
“the implementation of a new program and approach to financial reform starting from reducing general government spending and a comprehensive adjustment of the salary ladder to achieve societal justice, and
overcoming the wide disparity between grades and job positions according to the principle of redistributing income fairly the societal balance between higher and lower salaries according to responsibility, competence, professional and scientific experience،
As well as reducing the salaries and allocations of social benefits to the three presidencies, independent bodies, special degrees and their pensions of those who previously worked in these positions since 2003,”he said.
He stressed “the importance of
coordination between the financial and monetary policies to maintain the stability of the exchange rate,
maintain the standard adequacy of the central bank’s foreign reserves,
avoid external and internal borrowing and
achieve financial sustainability”. He pointed out
“the need to
stimulate and encourage the private sector and involve it in managing the economic process, as well as
stopping the import of luxury items and
limiting imports to ration card items, medicine and medical supplies, while
increasing the food basket of the Iraqi family in quantity and quality, and
building a strategic store of food for at least three months,” pointing to
“the need to work on the establishment of the sovereign fund by benefiting from financial savings and managing its assets and investments by the Central Bank of Iraq.
https://www.ina.iq/169556–2023-.html
Specialist: 3 Reasons Why Iraq Is Completely Dependent On Iranian Gas
331 economy 2022/11/04 20:24 Baghdad today-Baghdad Energy expert Mazen Al-Saad commented on the possibility of providing Iraq with enough gas to operate electric power plants, while pointing out that the total dependence lies on the import of Iranian gas because the refinery does not meet the need.
“The gas provided by some refineries in Iraq does not meet the need of the Ministry of electricity to operate the stations, and therefore the total and main dependence on the import of Iranian gas,”Al-Saad told Baghdad today. Al-Saad stressed that
“Iraq can abandon Iranian gas, if there is a real national will to produce gas locally by Iraqi refineries, “but”poor planning, management and even corruption have made Iraq unable to complete this step. He added that
“Iraq’s oil potential forces it to be the exporter of gas in the region and the world, not an importer,
but poor planning and management made Iraq late in completing this step, which could save it a lot of money in supporting its annual budget significantly.
https://baghdadtoday.news/news/205233/مختص-3-أسباب-تجعل-العراق
Digital Accounts: There Is Only 5 Billion Dollars Left From The Financial Surplus In The Treasury!
711 economy 2022/11/04 Baghdad today-Baghdad The financial accounts of the Iraqi state during the 9 months of this year showed the total revenues and expenditures of the state, while an economist explained that the remaining financial surplus does not exceed 7.4 trillion dinars.
The Economist Nabil al-Marsoumi, based on the figures of the financial accounts of the state, said in a blog post (Baghdad today) that
“the financial accounts until September 2022, public expenditures amounted to 78.752 trillion dinars, including operating expenses amounted to 72.810 trillion dinars, and investment expenses amounted to 5.942 trillion dinars”.
He explained that “the ratio of operating expenses to general expenses amounted to 92.4%, while the general revenues amounted to 122.976 trillion dinars, including oil revenues amounted to 117.837 trillion dinars, and non-oil revenues amounted to 4.958 trillion dinars”.
He pointed out that “the ratio of oil revenues to public revenues amounted to 95.8%”.
He explained that “the account surplus resulting from public revenues – (public expenditures + Advances), shows that the account surplus = 122.957 – 90.608 = 32.349 trillion dinars”. He pointed out that
“the actual surplus after subtracting the amounts allocated for food security of 25 trillion dinars = 32.349 -25 = 7.349 trillion dinars,”
which means that the actual surplus currently does not touch the 7.4 trillion dinars, which represents only 5 billion dollars. https://baghdadtoday.news/news/205242/حسابات-رقمية-لم-يتبق-من-
To Organize The Disbursement Of Funds.. Al-Sudani Directs The Completion Of The Establishment Of The Unified Treasury Account
417 policy 2022/11/04 15:34 Baghdad today _ Baghdad Prime minister Mohammed Shiaa al-Sudani, on Friday, directed the completion of the necessary procedures to establish a unified Treasury account.
The general secretariat of the Council of ministers said in a brief statement received (Baghdad today), that
“Prime Minister Mohammed Shiaa al-Sudani, Mr. Mohammed Shiaa al-Sudani, directed during the second regular session of the Council of ministers, held on 1/11/2022,
the Ministry of finance to take the necessary measures as soon as possible; to complete the procedures for establishing the unified Treasury account, in order to secure the seizure of funds in the state, and regulate their disbursement. https://baghdadtoday.news/news/205221/لتنظيم-صرف-الأموال-السود
Nassif Confirms The Identification Of Periods During Which “Idle Money”Was Stolen
Transcript: 3 of the companies involved in the theft of fake tax trusts Information / Baghdad… A member of the Parliamentary Integrity Committee, Alia Nassif, confirmed that her committee, along with the parliamentary finance committee, worked to determine the time periods during which idle funds were stolen, pointing out that continuing to audit all files suspected of corruption.
Nassif told Al-Malouma that “the Parliamentary Finance Committee, in the presence of members of the integrity committee, worked to conduct an audit of the customs file and reached the determination of the periods during which the amounts were stolen, whether at customs or other inactive funds or belonging to the central bank, where the move was made towards it.
“The director general of Customs is new in his position and was summoned, although he is far from the subject of thefts, and he was checked with him on the files mentioned,” she added.
She pointed out that “files should not be opened in order to get opponents to positions or remove a person from office in order to give it to another person for an excuse,
but rather work should be towards referral to the judiciary to prove corruption and evidence in this regard
https://almaalomah.me/news/economy/نصيف-تؤكد-تحديد-الفترات-التي-تم-خلالها-سرقة-الأموال-الخاملة
The Discovery Of Unmarked Oil Fields At The Ministry Of Oil In Anbar
Information/ Anbar.. The director of the Jabba municipality department in Anbar province, Qatari al-Obeidi, revealed on Friday the discovery of dozens of oil and gas fields not indicated by the Ministry of oil in the areas of the western Anbar desert.
“The employees of the oil exploration company were surprised to discover dozens of oil and gas fields in the western regions that are not indicated by the Ministry of oil, which called on the concerned company to summon more seismic teams to conduct exploration operations for areas that were not included among the areas rich in oil derivatives, phosphates and other minerals, “al-Obeidi said in a statement to the Information Agency.
He added that “the recent surveys conducted by the oil exploration company proved that the western regions are floating on a lake of oil and gas fields comparable to what exists in the Gulf countries, indicating that
“moving forward with exploration operations will contribute to the discovery of new fields not indicated by the Ministry of oil.
“The Ministry of oil has sent new seismic teams to the western regions against the background of the annexation of other regions that have proved to be rich in oil derivatives and minerals, “he explained.
It is noteworthy that a local official confirmed earlier the discovery of 9 new oil and gas fields not indicated by the Ministry of oil during exploration operations in the desert areas of the al-Baghdadi District of hit province, west of Anbar, “he said.
https://almaalomah.me/news/economy/اكتشاف-حقول-نفطية-غير-مؤشرة-لدى-وزارة-النفط-في-الانبار
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