Iraqi News Monday Evening 9-12-22
Tlm724 Administrator Bondlady’s Corner
A Government Advisor Clarifies The Possibility Of Submitting A Law Proposal That Includes A Financial Aspect
Political | 09:48 – 12/09/2022 Baghdad – Mawazine News, the technical advisor to the Prime Minister, Haitham Al-Jubouri, explained today, Monday, the mechanism for submitting a proposal for a law that includes a financial aspect, while noting that the currency reserves rose to more than 85 billion dollars that the Iraqi state had not previously witnessed.
Al-Jubouri said, “There is a decision of the Federal Court that prevents the government from submitting any bill that has a financial aspect,” noting that it is possible for the House of Representatives, through one of its committees or 10 deputies and more, to present a law proposal and take the government’s opinion on it, as it will have financial consequences.
And he added, “The government cannot submit bills according to the decision of the Federal Court,” noting that “we do not want many laws related to financial consequences or additional allocations, and we expect that there will be a government to approve a new budget.”
And on the rise in currency reserves, al-Jubouri said that “the rise in reserves to more than 85 billion dollars is an important indicator for the Iraqi economy and growth,” noting that “this rise was not witnessed by the Iraqi state previously.”
He continued, “We expect the reserve to reach 100 billion if oil prices remain high until the end of the year,” explaining that “this figure will support the stability of the Iraqi currency.” Ended 29 / p. 87
Will The Iraqi Agreement With China Survive Foreign Conspiracies?
September 11 18:46 information / special Iraq needs long-term strategic projects in order to improve the service reality that the Iraqi people need, and
one of the strategic agreements signed by Iraq is the Chinese agreement, that is, oil in exchange for Chinese companies activating the projects that Iraq needs to advance the service reality.
According to observers, Iraq is the biggest winner of the Chinese agreement because Chinese companies will extract it and export it to the Iraqi bank account, and
this will save Iraq from the cost of extracting and exporting oil and then selling it and then building projects, as the Chinese agreement shortened all these steps on Iraq,
but the agreement It collided with the interventions of countries that do not want Iraq to reach the stage of development, and
the second thing is the liquidation of international disputes at the expense of Iraq, which led to the failure to implement all its aspects.
On September 19, 2019, Iraq and China signed 8 agreements and memoranda of understanding at the conclusion of talks with Beijing, according to which Iraq opened a credit account in a Chinese bank, to deposit oil revenues of 100,000 barrels per day, in exchange for the implementation of infrastructure projects, such as schools, hospitals, roads, electricity and sanitation., to be determined through the Ministry of Planning and in coordination with the Council of Ministers,
but American and other pressures are being exerted on Iraq in order not to properly activate the Chinese agreement.
* What Is Its Relationship To The Formation Of The Government?
For his part, the representative of the State of Law coalition, Jassem Al-Moussawi, reveals, in an interview with Al-Maalouma, about “returning to the Chinese agreement in the coordination framework program after the formation of the next government,”
stressing that “Iraq needs its transition in service projects and modern roads in Mosul and building construction.”
The advanced infrastructure and housing complexes that the Iraqi people need.”
Al-Moussawi says that “Iraq needs such strategic agreements in the future so that the oil export investment is in the right way,” noting that “Iraq has lost confidence in foreign and European agreements after the failure of many of them.”
* Exploiting The Abundance Of Money
In turn, the economic expert, Safwan Qusay, calls on the Iraqi government to raise oil exports to China from 100 to 300 thousand barrels per day because of a surplus in the general budget.
In an interview with Al-Maalouma, he says that “the bank account of the Chinese agreement with Iraq amounts to 10 million dollars, and this will increase the ability of the Iraqi economy to face economic fluctuations,”
stressing that “Iraq needs strategic projects in light of the financial abundance that occurred as a result of high oil prices.”.
Qusay continues his speech, “The agreement will work on the projects announced by the Ministry of Planning through the evidence it collects.”
*Investing In Oil
In this regard, economic analyst Younis al-Kaabi confirms that Iraq has many opportunities to invest in oil with many major countries, similar to the agreement with China, which provides for obtaining oil in exchange for establishing projects for Iraq. In an interview with Al-Maalouma, he says,
“The Chinese agreement, which did not complete the agreement on all its aspects with Iraq, would have served the country a lot by pledging to build thousands of schools and residential complexes as well as state institutions according to development and modernity that has not entered Iraq so far.” Al-Kaabi continues,
“If Iraq takes such strategies and concludes agreements, the rise or fall of global oil prices in the future will not directly affect the work of Iraq’s future projects.”
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