Sunday AM Iraq Economic News Highlights 9-17-22
Al-Kazemi’s Financial Advisor: 4 Months And The Food Security Law Will Expire
Money and business Economy News-Baghdad Today, Saturday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, determined the time-span of the emergency support law for food security and development, while ruling out the repetition of the law after its entry into force .
Saleh told the Iraqi News Agency, “The law on emergency support for food security and development concerns the fiscal year 2022 exclusively, and by the end of this year on December 31, 2022, the law will expire completely .”
He added that “the second case in which the law ends is the issuance of the Federal Budget Law for the year 2022 in these months, and this law expires and becomes an integral part of the Federal General Budget Law in the event of its expansion in 2022, and this matter depends on the status of Parliament and its ability to legislate .”
He pointed out that “the repetition of this law for another year depends on the presence of the legislative authority and its ability to re-pass laws and form a government,” ruling out “the repetition of the Emergency Support Law for Food Security and Development after its expiry date .”
Views 498 Added 08/20/2022 – 10:42 AM Update 09/18/2022 – 8:06 AM
https://economy-news.net/content.php?id=29392
Iraq’s Oil Exports To America Rise Within A Week
Economie| 09:03 – 09/18/2022 Follow-up – Mawazine News, the US Energy Information Administration announced, on Sunday, that Iraq’s oil exports to America increased to more than 340,000 barrels per day during the past week.
The administration said in a report, “The average US imports of crude oil during the past week from nine countries amounted to 5.235 million barrels per day, down by 547,000 barrels per day from the previous week, which amounted to 5.782 million barrels per day.”
She added that “Iraq’s oil exports to America amounted to an average of 343 thousand barrels per day last week, higher than the previous week, in which oil exports to America reached an average of 222 thousand barrels per day.”
She also indicated that “most of America’s oil revenues during the past week came from Canada, at a rate of 2.937 million barrels per day, followed by Mexico at a rate of 484,000 barrels per day, and oil revenues from Saudi Arabia at a rate of 425,000 barrels per day, and then Colombia at a rate of 288,000 barrels per day.” .
According to the administration, “the amount of US imports of crude oil from Brazil amounted to an average of 255 thousand barrels per day, from Nigeria at a rate of 232 thousand barrels per day, and from Ecuador at a rate of 199,000 barrels per day and from Trinidad and Tobago at an average of 72,000 barrels per day, while no amount was imported from Russia.”
https://www.mawazin.net/Details.aspx?jimare=205764
Gold Prices In The Local Markets
Economie| 11:24 – 09/18/2022 Baghdad – Mawazine News, today, Sunday, gold prices fell in the local markets, as the price of the most traded 21-carat gold weight reached 340 thousand and 245 dinars, excluding drafting fees.
As for the price of a gold weight of 24 karat, it amounted to 388 thousand and 840 dinars, excluding the fees of the craftsman. Ended 29 / m 99 https://www.mawazin.net/Details.aspx?jimare=205773
The Dollar Rises Against The Iraqi Dinar
Economie| 11:33 – 09/18/2022 Baghdad – Mawazine News, the exchange rates of the US dollar rose against the Iraqi dinar, today, Sunday, in the Iraqi markets.
And the selling prices recorded 148,500 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 147,500 Iraqi dinars per 100 US dollars. https://www.mawazin.net/Details.aspx?jimare=205774
A Slight Decrease In The Dollar Exchange Rates In The Local Markets
2022-09-18 | 04:49 1,071 views Today, Sunday, the dollar exchange rates witnessed a slight decrease in the local markets.
And the selling prices of the dollar were recorded at 147.900 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 147.800 dinars per 100 dollars.
Earlier, the Central Bank of Iraq decided to amend the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is at (1470) dinars per dollar. LINK
Iraqi MP Calls For Imposing Financial Fees On Iranian Visitors
Posted On2022-09-18 By Sotaliraq On Saturday, a member of the Iraqi parliament from the Diaa Al-Hindi movement called for imposing financial fees on Iranian visitors, “similar to the Hajj season.”
Al-Hindi wrote in a post on “Facebook” that was seen by (BasNews), that “one of the disadvantages of opening the borders for free with the Iranian side is the failure of the transportation plan. This is something we will not allow in the future.”
The youngest member of the House of Representatives, Zia Al-Hindi, is an extension of the…
He added, “The numbers entering from Iran must be legalized according to certain financial fees, similar to the Hajj season in Makkah Al-Mukarramah, to control the activities of the million visit, especially after the failure of local and central governments since 2003 until now in building strategic projects (roads, railways, metros, water, sewage, etc.). Electricity, etc.). LINK
The Kurdistan Regional Government Allocates 7.5 Million Dinars For A Water Project In Erbil
Posted On2022-09-17 By Sotaliraq Today, Saturday, the Kurdistan Regional Government announced the allocation of 7 billion and 500 million Iraqi dinars to implement a project in the “8 Hisarok” area in Erbil.
In a statement, the Council of Ministers said that Prime Minister Masrour Barzani directed the allocation of this amount to implement a water project in the (Hasaruk 8) area in Erbil.
The statement added that the Prime Minister directed the Erbil Municipality Directorate to implement the project in this area, indicating that “the project will start in the coming days.” LINK
Abdul-Mahdi Outlines The Benefits Of Iraq’s Joining The Shanghai Organization And Directs A Request To The Government
Money and business Economy News-Baghdad Today, Sunday, the former Prime Minister, Adel Abdul-Mahdi, outlined the benefits of Iraq’s joining the Shanghai Organization, while he sent a request to the government .
Abdul-Mahdi said in a statement that “a few days ago, the 22nd meeting of the Council of Heads of State of the Shanghai Cooperation Organization ended in the city of Samarkand (Uzbekistan), the organization that today includes 9 superpowers and major countries such as China, Russia, India, Iran and Pakistan, in addition to many partner countries wishing to join and monitor .” .
He added that “only the nine countries represent more than half of the world’s population, and the matter is no less important in terms of space, energies and wealth,” noting that “these facts and others should prompt us to request formal accession to this emerging organization, in order to accelerate the approach of closer relations with countries Arab and Islamic neighbors, and with India, Japan, the two Koreas, and the countries of Central and East Asia .
He added, “China has with it many memoranda of understanding and agreements, such as the Belt and Road (Silk Road) and the Iraqi-Chinese agreement in what has become known as oil in exchange for reconstruction. Our accession to the Shanghai Organization has become necessary, especially after many countries, including Arab countries such as Egypt and the Gulf states, submitted a request to join. ”
Abdul-Mahdi called on the Iraqi government to expedite, in accordance with the laws in force, the application for formal membership of the Shanghai Organization, calling on the legislative authority, in accordance with its powers, to “support and facilitate the required procedures and for all forces to consider this issue as a supreme national interest, and a sure guarantee for our present and future, away from political differences.” “.
He pointed out that “according to the data of the “Shanghai Cooperation Organization Trade Development Report for 20 years”, the total trade value of SCO member states increased from 667.09 billion US dollars in 2001 to 6.06 trillion US dollars in 2020, and their share in total world trade increased from 5.4% in 2001 to 17.5% in 2020 and 2021, and the gross domestic product of the member states of the Shanghai Cooperation Organization amounted to about 23.3 trillion US dollars, which represents about a quarter of the global GDP. Certainly, these numbers will escalate to become one of the most important globally before the end of this decade, and the joining of more countries and advance their economies and status .
With this measure, Iraq will confirm its Arab, Islamic, Asian and Eastern affiliations and the importance of this for its present and future in a world of turmoil and division, and to contribute to the birth of a new balanced world in the west, east, north and south so that countries can strengthen their security, economic and cultural independence, end the eras of hegemony, and the fragmentation of nations, and impose Occupation, settlement and apartheid, its most prominent example in Palestine, or encouraging acts of separation and assaulting its unity, as in the attempts to separate Taiwan from its motherland, China .”
Abdul-Mahdi called for “strengthening relations, increasing visits to Asian countries and strengthening relations with them, especially the countries of East, Central and West Asia, and to pay more attention to our relations with our Arab and Islamic neighbours, with Africa and Latin America, as we care about our relations with Europe and North America. Our security, our economy and our sovereignty .”
22 . views Added 09/18/2022 – 11:17 AM Update 09/18/2022 – 1:08 PM
https://economy-news.net/content.php?id=29754
Kurdistan Electricity: The Rate Of Energy Waste In The Region Is Double The Global Standard
Shafaq News/ The Ministry of Electricity in Kurdistan Region revealed, on Sunday, that the rate of waste of electrical energy in the region is twice the international standard, indicating that the hours of supplying national electricity range from 11 to 12 hours per day.
The Director General of Erbil Electricity Distribution, Kamal Assaf, told Shafaq News Agency, “The percentage of electricity use in Erbil has not seen a decrease so far, despite the lower temperatures compared to the past months.”
He added that “the regional government is currently trying to increase the hours of processing through alternative energy and increase the producing stations,” explaining that “the Erbil governorate needs from 1,400 to 1,500 megawatts to raise the hours of processing to between 20 and 24 hours a day, but the current capacity is 1050 megawatts in the province.” Out of the total 3,500 megawatts, this is the region’s total production rate.
Assaf indicated that “international standards indicate that the waste rate should not exceed 17%, but the percentage of waste in the region ranges between 32 to 34%,” stressing that “the efforts are continuing to reduce this percentage and it has already decreased after the implementation of the smart meter project for electricity.” LINK
