Bondlady’s Corner Iraqi News Wednesday Morning

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Iraqi News Wednesday Morning 8-17-22

 

Tlm724 Administrator Bondlady’s Corner

 

The Federal Court Postpones The Date For Deciding The Case For Dissolving Parliament

 

Political | 01:02 – 17/08/2022   Baghdad – Mawazine News  The Federal Supreme Court decided, today, Wednesday, to postpone the date for deciding on the claim of dissolving Parliament.

 

A judicial source said that “the Federal Court decided to postpone the date for deciding the case to dissolve Parliament to the thirtieth of this month.”

 

The Sadrist movement and its supporters filed a lawsuit with the Federal Court to demand the dissolution of Parliament on the pretext of exceeding the constitutional deadlines. Ended 29 / h

 

https://www.mawazin.net/Details.aspx?jimare=202707

 

The Sadrist movement announces that it will not participate in the political dialogue

 

Political | 01:33 – 17/08/2022   Baghdad – Mawazine News  The private office of the leader of the Sadrist movement, Muqtada al-Sadr, announced today, Wednesday, a boycott of the political dialogue called by Prime Minister Mustafa Al-Kazemi.

 

The office said in a statement that Mawazine News received a copy of it, that “the Sadrist movement, with all its addresses and political figures, did not participate in the political dialogue that the Prime Minister called for today, neither directly nor indirectly.”

 

Today, Wednesday, the leaders of the political blocs held a meeting in the government palace, at the invitation of Prime Minister Mustafa Al-Kazemi.    https://www.mawazin.net/Details.aspx?jimare=202714

 

Economic Fragility..The Real Obstacle To Structural Reform In The Iraqi Economy

 

Articles   Dr.. Haitham Hamid Mutlaq Al-Mansour

 

After Iraq witnessed a significant expansion in its oil production, a rise in the value of its exports from it, and a surplus of public financial and external balances since 2021 until now, the decision-maker is still reluctant to take any step that would initiate urgent structural reforms in the path of growth and stability.

 

The Food Security Law is still restricted in implementation for many reasons that we are not concerned with, which hinders the movement of re-pumping oil funds on the right track, due to the presence of many factors that obstruct any process or decision targeting these two goals, the most dangerous of which are on the performance and balance of sectors in the overall economy, The fragility of the structure of the Iraqi economy.

 

Fragility means the lack of diversification of sources of income in the macroeconomic sectors, as this fragility can be diagnosed in the Iraqi economic reality as it is subject to several factors, among the most important at the current level, the factor of political tensions and conflicts to form the government, from which many financial problems arose,

 

the most dangerous of which is the lack of approval of the budget cumulative factors related to the nature of the economic reality itself and the problems related to its low ability to produce and export and the formation of traditional non-oil capital accumulation , in favor of the oil sector’s control over the income generation process

 

Because of the inability of the business sector and the financial market to attract investments and do them as necessary since 2003 until now, because of the many problems that the two sectors suffer from, most notably the ineffectiveness of the monetary market to generate real economic values, and the crowding out factor of the government sector with the private sector, which led to a decrease in the latter’s ability to establish Attracting the necessary investments to advance a diversified production base that can reduce the import dollar payments that cover most of their financial sums from government spending , has caused the erosion of the country’s productive and competitive capacity, and weakened an important tool of financial policy in the market economy, which is taxes , which accumulated inflation pressures and reduced The ability of politics to absorb its continuous rises,

 

so the effectiveness The performance of economic policy fluctuates between these factors, as well as many non-economic factors related to the reality of the administration, the most dangerous of which is the rampant administrative corruption in the joints of public and private institutions for many reasons, the most important of which are the absence of law enforcement, bureaucracy, nepotism and nepotism, as well as non-economic factors that relate to the nature of society and its various institutions and behaviors Its members that work to reduce the value of the return on capital and private investment activity.

 

All of these factors work in concert to distort the course of achieving the general objectives of the economic policy in its comprehensive sense, and in the absence of structural reforms in the real sector, economic fragility and its many causes will remain a real obstacle to the ability of the Iraqi economy to absorb the potential for growth and stability.   40 . views   Added 08/17/2022 – 3:45 PM  Update 08/17/2022 – 4:46 PM    https://economy-news.net/content.php?id=29370

 

Al-Kazemi’s office issues a statement regarding the launch of the Iraqi National Dialogue meeting

 

Political | 02:51 – 17/08/2022   Baghdad – Mawazine News  , the office of Prime Minister Mustafa Al-Kazemi issued a statement regarding the launch of the Iraqi National Dialogue meeting for political forces.

 

The office stated in a statement that Mawazine News received a copy of it, that “the Iraqi National Dialogue meeting was held today, Wednesday, under the auspices of Prime Minister Mustafa Al-Kazemi, with the participation of leaders and leaders of political forces in Iraq, and in the presence of the President of the Republic, and the heads of the legislative and judicial authorities.” and the UN envoy in Iraq.

 

Al-Kazemi had previously called the presidencies and leaders of political forces to a national meeting; to start a serious conversation; With the aim of finding solutions to the current political crisis, contributing to calm, preserving peace, and achieving the aspirations of the Iraqi people. Ended 29 / h

 

https://www.mawazin.net/Details.aspx?jimare=202724

 

The results of the foreign currency sale window Thursday 18/08/2022

 

Announcement No. (4705)   Sale date – Thursday 08/18/2022  the details  the amount

 

Total sale for the purposes of strengthening balances abroad (remittances, credits)  240,899,952

 

Total cash sale  25,800,000   total total sales  266,699,952

 

Note that:  The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar.

 

The cash sale price is ( 1460 ) dinars per dollar. » The Central Bank of Iraq’s foreign currency sales schedule Thursday 18/08/2022

 

https://cbi.iq/currency_auction

 

The Dollar Recorded A Decline In The Iraqi Market

 

Economie| 09:19 – 17/08/2022  Baghdad – Mawazine News, the dollar exchange rates fell, today, Wednesday, on the Iraqi Stock Exchange.  And the selling prices of the dollar were recorded at 148.050 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 148.150 dinars per 100 dollars.    https://www.mawazin.net/Details.aspx?jimare=202681

 

Oil Price Hike

 

Economie| 09:30 – 17/08/2022   Follow-up – Mawazine News: Oil prices recorded, on Wednesday, a rise after reaching their lowest level in six months recorded the previous day, with a larger-than-expected decline in US oil and gasoline stocks and strong demand that is still strong, limiting the rise in prices and the possibility of a global recession. .

 

Brent crude futures rose 13 cents, or 0.1 percent, to $92.47 a barrel by 0035 GMT.

 

West Texas Intermediate (WTI) crude futures rose 27 cents, or 0.3%, to $86.80 a barrel.

 

Yesterday, oil prices fell about 3% to the lowest level since before the Russian invasion of Ukraine, while economic data raised fears of a possible global recession, while the market awaits clarification on talks to revive an agreement that may allow more crude exports from Iran.

 

https://www.mawazin.net/Details.aspx?jimare=202682

 

 

 

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