Iraqi Economy News Highlights Thursday Evening

  In Iraqi News 

Thursday Evening Iraq Economy News Highlights 7-7-22


Deputy: National Banks Are Led By Corruption Mafias, And The Central Bank Must Intervene


POLITICIAN   2022/07/06 | 3:19 PM   Information / Baghdad..The representative of the Al-Fateh Alliance, Aziz Sharif Al-Mayahi, called, on Wednesday, the Central Bank of Iraq to reconsider the classification of Iraqi private banks and hold them accountable that did not provide any investment or economic benefits to Iraq, referring to some private banks that have turned into shops to issue letters of guarantee and take high and large commissions in addition to Depletion of hard currency and smuggling it with false invoices.


Al-Mayahi said in a statement received by “The Information”, “There are many private banks led by a number of corruption mafias, which, unfortunately, have turned into shops for issuing letters of guarantee and taking high and large commissions that burden contractors, in addition to draining hard currency and smuggling it abroad and paying forged invoices to The central bank and market speculation have not negatively affected the economic situation and harmed the Iraqi private sector and established its wealth at the expense of Iraq and its people without presenting any investment or economic plans or projects that would benefit Iraq or reduce the suffering of the poor classes.


Al-Mayahi added, “The Central Bank had previously worked on grading private banks according to what they presented, but unfortunately we did not find any of those private banks that were granted advanced degrees any benefit to the country, and they did not have any positive role during the successive economic crises that The country was ravaged, and despite this, its wealth is still growing from the country’s bounties without any account or supervision.”


He stressed “the importance of returning the central bank to all its accounts in dealing with private banks and setting stricter controls in checking invoices sent from those banks, given that the volume of exports does not equal the volume of hard currency leaving the country to sort out the lagging ones after giving them a time limit to rearrange their plans and in the event that The continued reluctance should work to withdraw licenses from them and oblige them to pay fines for the extent of the damage they caused to the Iraqi economy and the private sector.” finished/25h   LINK

Turkey Continues Its Attacks And The Government Is In Hibernation.. A Call For Economic Pressure


Politician  Last Update 07/06/2022 | 5:20 PM  information/private.  On Wednesday, a member of the Al-Fateh Alliance, Ali Al-Fatlawi, accused the current government of submitting to the ongoing Turkish aggressions and violations on Iraqi soil.


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Al-Fatlawi said in an interview with “Information” that “Al-Kazemi did not seek to resolve the sovereign breach from the Turkish side, which is represented by the military operations that are launched permanently in northern Iraq,” noting that “commercial cooperation between the two countries amounts to about 10 billion dollars.”


He stressed the need to invest this economic paper and put pressure on the Ankara government to stop its operations in the country, adding that “the prime minister must find a solution to these violations and continuous attacks, which caused the migration of hundreds of families.”


Turkey continues its incursion into the Iraqi interior and the implementation of its military attacks under the pretext of pursuing PKK militants, which resulted in the killing of dozens of victims and the displacement of many border villages in the provinces of the Kurdistan region.


3 Files In The Next Government’s Priorities, The Most Prominent Of Which Is Dealing With The Exchange Rate


Politician  Last Update 07/06/2022 | 10:47 PM  Information / Baghdad…  The leader in the coordination framework, Turki Al-Atabi, confirmed, on Wednesday, that 3 files are among the priorities of the upcoming government, the most prominent of which is dealing with the exchange rate.


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Al-Otabi said in an interview with Al-Information, that “3 important files are among the priorities of the next government, which are the removal of the US forces, the return of the dollar exchange rate, and the organization of the national economy file in a way that reduces the fluctuations of the global markets for the sale of oil and its direct impact on the budget.”


Al-Otbi added, “The features of forming the government will be more clear after the end of the Eid al-Adha holiday, stressing that the political consensus will resolve all complications and will push all forces towards a broader participation in the next government.”


He pointed out that “from 4-6 candidates so far in the scene for the post of prime minister, but its resolution will be directly after the end of the Eid holiday.”


The coordination framework is leading an accelerated political movement for the good formation of the next government.” Ended on February 25  LINK

99 Billion Dinars Revenues From Border Crossings In June


ECONOMIC  2022/07/06 | 7:09 PM  Information / Baghdad..  Today, Wednesday, the General Authority of Customs announced that it recorded a quantum leap during June with revenues that have not been achieved for years.


The authority said in a statement received by “The Information” that “revenues amounted to more than (99) billion dinars during the month of June 2022, previously not recorded in the previous years for the same month.”


And she added, “This achievement was achieved despite zeroing customs duties for foodstuffs and construction materials and exempting them from fees according to the decision of the Council of Ministers.” finished/25h LINK

The End Of The Year… An Expert Expects Iraq’s Oil Revenues To Reach 125 Billion Dollars


Economic  Last Update 07/06/2022 | 8:02 PM  information/special.  Economist Nabil Jabbar expected, on Wednesday, that Iraq’s financial revenues from oil until the end of this year will reach more than 125 billion dollars, which represents nearly 200% of the average revenue for previous years, while stressing that the revenues achieved during the past months are historic.


Jabbar said in an interview with the “Information” agency, “The revenues achieved during the past months are historical over the entire lifespan of the Iraqi state since 1920,” noting that “the revenues achieved during 6 months from oil sales are approximately $62 billion, which is equivalent to an average of $62 billion in oil sales. full year revenue.


He added, “Iraq has an opportunity for development by investing and employing these funds, at least for the funds generated for the next three years, during which economists expect the oil price boom to continue or improve.”


The economist explained, “It is expected that the revenue until the end of the year will be more than 125 billion dollars, which represents approximately 200% of the average revenue for previous years.”


Jabbar continued, saying: “Spending 40 and 50 years ago from oil revenues on infrastructure projects (bridges, roads and public buildings) is the real generation fund from which Iraqis benefited throughout that period.”


The Ministry of Oil had confirmed, earlier, that “the amount of crude oil exports amounted to (101) million (390) thousand and (662) barrels, with revenues amounting to (10) billion and (609) million and (252) thousand dollars.


Khazali Explains The Possibility Of Passing The Budget During The Era Of The Caretaker Government


Economic   Last Update 07/07/2022 | 8:59 AM  The Information/Baghdad…Legal expert Raqiah Al-Khazali explained the possibility of passing the 2022 budget by Parliament in light of the presence of the caretaker government in power.


Khazali told “Al-Maalouma”, that “the current government is a caretaker and cannot send a budget to Parliament for its legislation, because it does not have the legal right to raise bills, including the budget.”


She added that “passing the budget is by going towards forming the new government, which in turn studies the budget and submits it to Parliament for a vote.”


And she indicated that “the budget can be legislated during the era of the current government by voting by members of Parliament by a simple majority within the House of Representatives, and therefore these votes give the government the legal framework to raise the budget in order to vote on it.” finished 25


Parliament Accuses Turkey Of Carrying Out A “Malicious Plan” To Thirst And Starve Iraq


Economic  Last Update 07/07/2022 | 11:34 AM   The Information/Baghdad.. The Chairman of the Committee on Agriculture, Water and Marshes in the House of Representatives, Thaer Mikheib Al Kitab, accused, on Thursday, Turkey of implementing a malicious plan by starving and starving Iraq, pointing out that Ankara has disregarded all values, standards and laws.


Al-Kitab said, in a statement reported by the official “Al-Sabah” newspaper, which was seen by Al-Maalouma, that “Turkey is in the process of constructing the irrigation (island) dam, which is 35 km from Iraqi territory, and it is a dangerous and terrifying dam that violates all legal norms between the riparian countries for Iraq and will cast a shadow over it. on future generations.”


He added, “Turkey disregarded all the values, standards, laws and constitutions written between it and Iraq, especially when the water was cut off despite the entry of the Iraqi marshes as water bodies to the World Heritage List, which must always be submerged in water according to the regulations of the United Nations Culture, Science and Arts Organization (UNESCO). )”.


The head of the Parliamentary Committee confirmed, “writing protest notes to the Turkish embassy in Iraq and then to the United Nations and internationalizing the issue of cutting off water from Iraq, and holding official and popular conferences in this regard.”


Al-Kitab pointed out that “reducing Iraq’s water share from Turkey is nothing but a plan drawn and prepared in a (malicious) manner, and it completely suffocates Iraq, and implements a scheme aimed at starving Iraq and making it a permanently consuming country.”   LINK

Kurdistan Regional Council Of Ministers: We Will Not Give Up Our Constitutional Rights And Will Not Succumb To Any Pressure Or Threat From The Baghdad Government


By Moahmad EditorIraq news   The Kurdistan Regional Council of Ministers announced that it “will not in any way give up the constitutional rights and entitlements, and will not succumb to any pressure and threat from the Iraqi federal government aimed at violating the rights of the people of Kurdistan.”


A statement was issued by the Kurdistan Regional Council of Ministers meeting, which was held under the chairmanship of Prime Minister Masrour Barzani, and with the participation of the Deputy Chairman of the Council, Qubad Talabani.


The statement issued by the Kurdistan Regional Government meeting stated: “The Council of Ministers reiterates that it will not in any way waive the constitutional rights and entitlements of the people of the Kurdistan Region, and will defend in every way the constitutional rights of the Kurdistan Region and will not succumb to any pressure and threat from the federal government with the aim of violating the rights of the Kurdistan Region.” The people of Kurdistan.”


According to the statement, the head of the Cabinet Office presented the constitutional, judicial and legal steps taken by the Kurdistan Regional Government in the face of the pressures of the Iraqi Federal Ministry of Oil on the conferees, noting that “the federal government, unfortunately, took the decision to stop the disbursement of the share of the Kurdistan Region in an unconstitutional manner, and is exercising illegal pressure to cut The road to the imports that the Kurdistan Region derives from oil and local revenues, which do not constitute any financial burden on the federal government.”


The Kurdistan Regional Council of Ministers stressed the solution to the outstanding problems between it and the Iraqi federal government, “including the problems related to oil and gas under the constitution, in a manner that defines the rights and duties of each party.”


The statement indicated that the cabinet meeting discussed the revenues and expenditures of the Kurdistan Regional Government, noting that the ninth cabinet of the Kurdistan Regional Government secured the salaries of the first six months of 2022 from oil revenues, “while the federal government had to spend one trillion and 200 billion dinars to the Kurdistan Region in the first six months of 2022, It spent only 400 billion dinars for the region.”


In its statement, the Kurdistan Regional Council of Ministers said that in addition to securing the salaries of employees, the ninth cabin was able, during its three years of life, to pay one and a half billion dollars in debts to the government, “in addition to securing gas for electric power production plants for the first six months of 2022, and the cost of securing this The gas from the Kormore field for these stations amounted to $566 million, in addition to the operating expenses of these stations, which during the six months amounted to $516 million.”


The Kurdistan Regional Council of Ministers statement also pointed out that subsidizing the price of gasoline and securing gasoline at a price of 800 dinars per liter, while one liter costs the government 1200 dinars, as well as providing gas for domestic use to citizens at a subsidized price. LINK

State Of Law: The 2022 Budget Will Not Go Ahead Without Returning The Dollar Price


Economie  Tuesday, 5 July 2022 9:15 PM   National News Center/ Baghdad  The State of Law coalition confirmed, on Tuesday, that the coalition will not vote to pass the 2022 budget except by a decision to lower the dollar exchange rate and return it to what it was previously.


The leader of the coalition, Haider al-Lami, said in an interview with the National News Center that “Al-Maliki’s coalition categorically refused to raise the exchange rate of the dollar and keep the price as it was previously, or raise it to a maximum of 125,000 thousand Iraqi dinars for the 100 US dollars. But we were surprised by a great rejection,” noting that “the only person affected by this rise is the Iraqi people.


He added, “Iraq today exports more than four million barrels, and the price of one barrel reaches more than $100, but so far we see the dollar exchange rate is very high.”


The leader of the State of Law explained that “the coalition will not proceed with passing the Federal Budget Law for 2022 inside the parliament, except by a decision to lower the dollar exchange rate and return it to what it was previously in order to serve the interests of the Iraqi people.”  LINK

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