Tuesday Afternoon Iraq Economic News Highlights 9-6-22
Iraq Is On The Verge Of A “Real Catastrophe” That Affects 40 Percent Of Its Population
2022-09-06 0 Shafaq News/ The Union of Agricultural Societies confirmed, on Tuesday, that the water scarcity has greatly affected the cultivation of agricultural crops, and the agricultural plan in general, and while referring to a “disaster” expected to occur during the coming period, it demanded that the direct government negotiate with neighboring countries to release a quota Water Iraq.
The head of the union, Hassan Al-Tamimi, told Shafaq News Agency, “The agricultural plan for this year is suffering greatly, as a result of the Ministry of Water Resources not giving the full quota to farmers and peasants, due to the scarcity of water in the level of the Tigris and Euphrates rivers, as Iran cut off eight tributaries from Iraq, and in At the same time, Turkey does not give an adequate share of the Tigris and Euphrates rivers to Iraq, which has negatively affected the cultivation of agricultural crops.
Al-Tamimi added, “Therefore, you see that most of the Iraqi lands have become desertified, and in the absence of rain in this season, a real disaster will occur in the cultivation of agricultural crops, and great damage to the segment of peasants and farmers throughout the Iraqi provinces.”
The head of the Union of Agricultural Associations warned of the possibility of a large migration from the countryside to the city, indicating that “this reverse migration will cause a disaster and great pressure on cities, which suffer from confusion, lack of services and the housing crisis, and this is expected to happen if the government does not take measures and start negotiating with neighboring countries”.
And he continued, “Therefore, everyone, even the heads of the blocs, must leave their differences aside, and not keep fighting over positions, leaving the Iraqi farmer with this ordeal that will end many of their families. Everyone knows that from 35 to 40 percent of the population of Iraq are peasants and farmers, or Those who work in agriculture, and its interruption will lead to the interruption of most ways of life.”
At the conclusion of his speech, Al-Tamimi warned that “dependence on oil does nothing for this society, which is mostly a purely tribal, peasant society, so we ask Prime Minister Mustafa Al-Kazemi to intervene personally and lead a negotiating team with neighboring countries to release Iraq’s water share from Turkey and Iran.” LINK
India: Most Of Our Oil Supplies Will Come From Iraq And Saudi Arabia
Energy Economy News _ Baghdad India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said that most of his country’s crude oil supplies in the near future will come from Gulf countries, especially Iraq and Saudi Arabia, as they seek to secure an affordable energy base.
Indian refineries have been buying relatively cheap Russian oil, which Western companies and countries have shunned since sanctions were imposed on Moscow over what it calls a “special military operation” in Ukraine.
India’s imports of Russian oil increased 4.7 times, or more than 400,000 barrels per day, in April and May, but declined in July.
India decreased its oil purchases from Iraq in July by 9.3% compared to June to less than one million barrels per day for the first time in 10 months, but Iraq remained in first place as the largest exporter of oil to India.
Crude oil imports from Saudi Arabia by the world’s third largest importer and consumer of oil in July rose by more than 25% after Saudi Arabia lowered its official selling price in July to keep Saudi Arabia in third place among India’s suppliers.
Although oil imports from Russia fell 7.3% in July from June levels, Moscow remained the country’s second largest oil supplier after Iraq.
Puri said that by the end of the fiscal year on March 31, 2022, India’s purchases from Russia accounted for only 0.2%, but later rose as the global situation turned “problematic”. Europe buys it from Russia.
15 . views Added 09/06/2022 – 9:03 AM Update 09/06/2022 – 1:15 PM
https://economy-news.net/content.php?id=29582
Iraq Cuts Oil Production By 12 Thousand Barrels Per Day Under The OPEC Plus Agreement
Energy Economy News _ Baghdad The oil production quotas of OPEC + countries will return next October to the levels of last August. Iraq’s production in October will be 4.651 million barrels per day, a decrease of 12 thousand barrels per day from September.
The OPEC Plus alliance announced a reduction in oil production by 100,000 barrels per day in next October, in light of the current fundamentals of the oil market, explaining that the increase in production by 100,000 barrels per day was intended for the month of September only.
Views 125 Added 09/05/2022 – 5:16 PM Update 09/06/2022 – 12:25 PM
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Expert: 30% Of Non-Oil Revenues Were Not Included In The Budget!
Article at link: https://baghdadtoday.news/ar/news/199857/A
Fitch Expects The Iraqi Economy To Grow By 8% In 2022
Fitch Ratings Agency 9, 06, 2022 Mubasher: Fitch Ratings expected the real GDP growth of Iraq by about 8% in 2022, after it was 3% in 2021.
Today, Tuesday, the agency stated that the increase in average annual oil production will lead to a recovery of 11% in oil GDP in 2022, which was a constant average in 2021, despite the increase in production rates in the second half of 2021.
The agency added that rapid lending growth, backed in part by lending initiatives from the Central Bank of Iraq, will drive non-oil growth by 4% this year, according to the Iraqi News Agency. LINK
5 Million Employees And Retirees Whose Salaries Consume Half The Country’s Budget… And The Numbers Are Rising
Baghdad / Obelisk: The number of government employees for whom the state spends tens of billions of hard currency annually to pay their wages is swelling, at a time when thousands are demonstrating to obtain a government job.
With a shocking comparison, in 2003 the number of employees was only 850,000, while in 2022 the number of employees reached more than 5 million employees and retirees, or nearly a quarter of the total population of Iraq.
The shocking numbers of employees, in addition to parliamentarians and presidencies, their salaries make up nearly 50% of the country’s budget.
It is expected to deplete the oil resources, which constitute the bulk of Iraq’s financial revenues, due to the continuous inflation of staff preparation, which comes in parallel with the failure of the concerned authorities to develop plans and studies to avoid problems.
Mazhar Muhammad Salih, adviser to the Iraqi prime minister for economic affairs, says that the state’s philosophy after 2003 relied on distributing oil revenues to employees, where each employee supports five people with the aim of creating prosperity, but this philosophy in the long run harms the country greatly.
Iraqi economist Salam Zaidan believes that governments have adopted unsuccessful strategies in managing the country’s economy, as the number of employees has increased in a very frightening manner.
The academic, Sajjad al-Baghdadi, attributes the increase in the number of employees to the electoral propaganda of the ruling political parties since 2003, in addition to the fact that some parties took control of the ministries and made random appointments.
The researcher, Amir Abdul-Hussein, explained that the inflation of the government apparatus during 10 years was due to the absorption of the job seeker through state institutions, which in the absolute majority were not productive, and because most political forces considered this a tool to increase their popularity.
The current solutions are divided into several levels, one of which is the construction of huge numbers of factories and production institutions, and the restructuring of the government apparatus so that hundreds of thousands of them move to these productive bodies, to get rid of their financial and administrative burdens.
Inflation comes with the preparation of employees, in parallel with the repeated demonstrations of thousands of graduates demanding government appointments. Prepare carpet khafaji https://almasalah.com/archives/15744
