Iraqi News Highlights Wednesday Afternoon 3-29-23
Tlm724 Administrator Bondlady’s Corner
Finance Minister: Iraq Is Looking Forward To More Cooperation With The IMF
Economy| 03:41 – 03/29/2023 Baghdad – Mawazine News, Finance Minister Taif Sami Muhammad confirmed today, Wednesday, Iraq’s aspiration for more cooperation with the IMF.
The Ministry of Finance said in a statement, which Mawazine News received, a copy of, that “The Minister of Finance, Taif Sami Muhammad, received today the Regional Director of the International Monetary Fund in Iraq, Ghazi Shbeikat,” noting that “the meeting discussed a number of files related to the framework of joint cooperation between The two sides, most notably the provision of the necessary technical advice by the Fund to enhance financial reform plans, in addition to the involvement of international experts in the process of developing the performance of the banking sector and improving accounting systems and budget work.
And the Minister of Finance confirmed that “Iraq is looking forward to more cooperation with the IMF, in support of the government’s reform programs that it is implementing in the sectors of finance, economy, investment and sustainable development projects.”
While Shbeikat expressed his optimism “that the Iraqi economy will witness an improvement in annual growth rates, and that this improvement will be reflected in supporting the rest of the development sectors.” Ended 29/M99 https://www.mawazin.net/Details.aspx?jimare=223164
Finance Urges The Participation Of International Experts In The Process Of Developing The Performance Of The Banking Sector
Money and business Economy News / Baghdad Today, Wednesday, Finance Minister Taif Sami Muhammad confirmed Iraq’s aspiration for more cooperation with the IMF.
The Ministry of Finance said in a statement, “The Minister of Finance, Taif Sami Muhammad, received today the Regional Director of the International Monetary Fund in Iraq, Ghazi Shbeikat,” noting that “the meeting discussed a number of files related to the framework of joint cooperation between the two sides, most notably the provision of the necessary technical advice by The fund to promote financial reform plans, in addition to involving international experts in the process of developing the performance of the banking sector and improving accounting systems and budget work.
And the Minister of Finance confirmed that “Iraq is looking forward to more cooperation with the IMF, in support of the government’s reform programs that it is implementing in the sectors of finance, economy, investment and sustainable development projects.”
While Shbeikat expressed his optimism “that the Iraqi economy will witness an improvement in annual growth rates, and that this improvement will be reflected in supporting the rest of the development sectors.” https://economy-news.net/content.php?id=33205
The President Of The Republic Stresses The Need To Expedite The Approval Of The Oil And Gas Law
The President of the Republic, Abdul Latif Jamal Rashid, stressed the need to expedite the approval of the oil and gas law, in a way that guarantees the Iraqis to enjoy their national wealth in fairness and equality.
A statement by the Presidency of the Republic stated, “The President of the Republic, Abdul Latif Jamal Rashid, received in Baghdad the Chairman of the Parliamentary Oil, Gas and Natural Resources Committee, Representative Haibat al-Halbousi, the first and second deputies of the committee chairman, and a number of committee members.”
During the meeting, the President stressed the need to expedite the approval of the oil and gas law in a way that guarantees the Iraqis to enjoy their national wealth with justice and equality, and that it belongs to the people and future generations, indicating that the approval of the law is important in resolving outstanding issues between the federal government and the Kurdistan Regional Government.
The President touched on the necessity of supporting the oil industry, especially with regard to investment projects in the sectors of gas, oil exploration, and refining industries, and addressing the obstacles it encounters, stressing that it has priorities in the government program.
The President of the Republic stressed the need for good planning and management and following modern methods in implementing projects aimed at increasing and improving the level of oil production in the country, and working to find appropriate mechanisms to benefit from the gas wealth in the country and not waste it, and reduce dependence on imported oil derivatives.
The President of the Republic spoke about his participation in the United Nations Water Conference held in New York, and the realistic picture put forward by the Iraqi delegation about the dangers facing the country as a result of water scarcity, which has begun to affect the lives and livelihoods of citizens in general.
The President also stressed the importance of taking urgent measures to confront the water crisis and reduce the severity of these risks by finding innovative and sustainable relief solutions at the local, regional and international levels, stressing that he sensed, during his meetings with a number of leaders of the participating countries, solidarity and support for Iraq in the face of water scarcity and climate changes represented by desertification. And the drought that bears its burdens greatly.
In turn, the Chairman of the Parliamentary Oil, Gas and Natural Resources Committee affirmed the committee’s interest in the president’s directives, and work to invest the country’s natural resources in the best way and in a way that achieves progress and well-being for our country and our people, calling for adopting the water file in order to find solutions to reduce its effects.
Al-Halbousi indicated that the committee has been working to endorse the oil and gas law that has been stalled in Parliament for years, pointing out that there is a desire among most blocs to legislate this law in a way that reflects positively on strengthening and developing the reality of the oil sector in Iraq.
https://www.radionawa.com/all-detail.aspx?jimare=33873
Dollar Exchange Rates In Today’s Trading
Wednesday 29 March 2023 11:56 | Economical Number of readings: 321 Baghdad / NINA / – The exchange rates of the dollar against the dinar witnessed, today, Wednesday, a slight decrease in the exchange rates of the dollar in the local markets in all the country’s governorates.
The buying and selling prices of dollar exchange in exchange shops in the local markets in all governorates of the country decreased slightly, as the selling price reached 154,750 dinars per 100 dollars, while the purchase prices reached 153,750 dinars per 100 dollars./ End 8 To receive more
Central Bank Sales Are Down In The Currency Auction Today, Wednesday
Wednesday 29 March 2023 11:52 | Economical Number of readings: 268 Baghdad / NINA / – The Central Bank of Iraq’s sales of foreign currency decreased, on Wednesday, recording 205 million dollars.
The results of the window for selling foreign currency came, according to what was announced by the Iraqi Central Bank:
The price of selling amounts of documentary credits and international settlements for electronic cards (1305) dinars per dollar. The price of selling remittances abroad is (1310) dinars per dollar. The cash selling price is (1310) dinars per dollar./ https://ninanews.com/Website/News/Details?key=1043433
The Tripartite Budget Will Support The Private Sector And Reduce Foreign Imports
Economist for / NINA /: Wednesday 29 March 2023 10:51 | Economical Number of readings: 313 Baghdad / NINA / – Economic expert, Malath Al-Amin, confirmed today, Wednesday, that the 2023 tripartite budget will contribute to supporting the private sector to implement productive projects and provide various types of consumer goods, which enhances the local economy and reduces imports.
Al-Amin said, in a statement to the National Iraqi News Agency ( NINA ), that “the total budget amounts to more than 197 trillion dinars (151.5 billion dollars), and more than 150 trillion dinars (115 billion dollars) were allocated for the operational budget, and the price of a barrel of oil was relied on at 70 dollars, with an export capacity of about 3.5 million barrels per day, including 400 thousand barrels per day through the Kurdistan region, and this budget will be repeated for a period of three years (2023, 2024 and 2025) within the government’s plan to support financial stability.
He pointed out that “the budget law granted the provinces the right to rotate the amounts allocated to them, and the draft law of the Iraq Fund for Development was also included and allocating one trillion for it, which will be directed to the private sector and contribute to the implementation of eight thousand schools at once.”
And the economist stressed, “This law gave privacy to the governorates in building and keeping the funds allocated to them in the event that they were not disbursed during the allotted time period, and this matter is done through legal financial control mechanisms and under the supervision of the Financial Supervision Bureau, so the surplus amounts from the governorate budget can be directed towards Investment projects such as the establishment of factories or production projects and the development of border crossings or tourist sites that contribute to the opening of new job opportunities and financial revenues for the governorate X, and so it works for other governorates by benefiting from its location and wealth in coordination with the central government, which will not hesitate to provide financial and logistical support for the success of investment projects.
Al-Amin continued, “The budget will contribute to supporting the private sector to implement productive projects and provide various types of consumer goods, which enhances the local economy and reduces imports, while creating a positive competitive atmosphere among the poles of national industries that lead to the improvement and development of the local product to enable it to compete with the importer.”/ End https://ninanews.com/Website/News/Details?Key=1043403
The Stock Market Closed Higher By 0.15%.
Stock Market Economy News – Baghdad The Iraqi Stock Exchange closed, today, Wednesday, up by 0.15%. And stock exchange trading, the shares of 33 companies, of which 9 companies achieved profits and 11 achieved losses. The traded shares amounted to 421.4 million shares, at a value of 687.5 million dinars. The most traded companies in terms of shares were Sumer Commercial Bank, Baghdad Bank and Baghdad Soft Drinks. https://economy-news.net/content.php?id=33198
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