Wednesday Afternoon Iraq Economy News Highlights 8-9-23
Parliamentary Finance Launches Its Expectations Regarding The Course Of The Exchange Rate During The Coming Period
Money and business Economy News _ Baghdad The Parliamentary Finance Committee expected, on Wednesday, a decrease in the exchange rate during the coming period. A member of the Finance Committee, Jamal Cougar, said, “The exchange rate of the dollar will decrease after the budget instructions were issued and the law took its way to implementation.”
Cougar added, “The government will have to pump large amounts of dollars into the local markets in the coming days.” He pointed out, “The Iraqi state’s resources are in dollars, but it needs the national currency in order to pay the salaries, which take up a large part of the budget.” And Cougar went on to say that “the presence of large quantities of the dollar on the market will lead to market sufficiency and a lack of demand, and then reduce its price to a large extent.”
Views 16 08/09/2023 – https://economy-news.net/content.php?id=35582
Political Analyst: Oil And Gas Law Is A Game Between Baghdad And Erbil To Pass Agreements
Policy 09/08/2023 10:05 number of readings: 180 Baghdad-Iraq today: Dr. Qahtan Al-Khafaji, Vice-Chairman of the Political Science Committee at the Iraqi Forum for Elites and Competencies, confirmed that the proposed mechanisms for managing oil and gas, whether by Baghdad or Erbil after 2003, are different and contrary to the rules of the systems adopted in the global systems.
A press interview said, “After 2003, conditions changed on the ground, and mechanisms were proposed by Baghdad and others to manage the oil of Iraq and the region, and all of these proposals are basically different and contrary to the rules of the regimes adopted in the global systems.”
He added: “In all countries of the world we always find natural and financial resources, the army, borders and foreign affairs are the concern of the federal and central government, and this is applied in America, Switzerland and Brazil, which are federal countries , but the situation in Iraq is completely different, what has been going on for years is the process of dividing and sharing imports between political blocs, and these political blocs are basically not independent for themselves, but rather linked to an external force.
The Vice-Chairman of the Political Science Committee indicated that what is happening today regarding the preparation of the Iraqi government for a new oil and gas law in the country is basically a process of procrastination, diluting and distributing the collective effectiveness of the various Iraqi capabilities .
Al-Khafaji explained that “the issue of oil and gas is a thorny, long and complex issue, even in light of a commercial political process, and I think it will take a long time, because there are many opinions within the political process that do not see the new proposals as a proper way to serve Iraq, in addition to the effective popular rejection.”
The deputy head of the Political Science Committee pointed out that “talking about a new oil law is a government game with the aim of escaping from my responsibility, because decisions within the corridors of Parliament often take long, thorny and complex procedures, in addition to that moving in this direction is a process of escaping forward and leaving the matter.” This move is nothing more than a political maneuver by the official authorities in the country.
Al-Khafaji concluded, saying: “The legislation of a new oil and gas law that disperses the central administration of oil and gas or any Iraqi natural resources is outside logic and outside all approved fundamentalist state functions, whether in central states or federal states. ” LINK
Finance Invites Ministries To Receive Budget Instructions
The first 2023/08/09 : Al-Sabah called on the Ministry of Finance, yesterday, Tuesday, to the ministries and provinces to review them in order to receive the budget instructions.
And a statement by the ministry stated, “After the approval and publication of the Federal General Budget Law, No. 13 for the fiscal years (2023, 2024, and 2025) in the official Iraqi Gazette issued in June 2023, issue (4726), we call on all ministries, governorates, agencies, and entities not associated with a ministry, to come to The headquarters of the Ministry of Finance / Budget Department / Budget Preparation Department, for the purpose of receiving a copy of the instructions for implementing the general budget and the instructions for implementing the planning budget for the public sector and self-financed agencies and companies. https://alsabaah.iq/82058-.html
Al-Rubaie Stresses The Existence Of A Political Consensus To Pass The Oil And Gas Law In Parliament, Pending The Government’s Completion Of The Final Draft Of The Law.
WED, 09-08-2023, TAYSEER AL-ASADI The representative of the State of Law and a member of the Parliamentary Oil, Gas and Natural Resources Committee, Thana Faraj Al-Rubaie, confirmed today, Wednesday (9_ August_2023), the
existence of an agreement and desire by various forces to proceed with approving the oil and gas law between the federal government and the region. Confirming that Parliament will pass the law as soon as possible
She added, Al-Rubaie, that the Iraqi government formed a special joint committee in order to draft the oil and gas law, and it was represented by the Minister of Oil and the Minister of Natural Resources in the Kurdistan Region and the advanced cadres in the Ministry of Oil, especially the national SOMO company concerned with exporting oil.
A member of the Parliamentary Oil and Gas Committee, she said, “The law will regulate the method of extracting oil and natural minerals that are produced within the borders of the Iraqi state, including the Kurdistan region, as well as regulating oil revenues according to the interpretations of the Iraqi constitution in the section on the distribution of natural resources.”
Al-Rubaie explained, “Legislation of the oil and gas law is not an easy matter, especially since the law has been postponing its legislation for many years due to political differences over it.”
The Ministry Of Finance Publishes The Amended Tables Related To Article (76) Of The Budget Law
Policy |Baghdad today – Baghdad Today, Wednesday (August 9, 2023), the Ministry of Finance published the amended schedules for Article (76) of the Federal Budget Law.
The ministry stated, in a statement received by “Baghdad Today”, that “according to the directives of the Minister of Finance, Taif Sami, the ministry publishes the amended tables related to Article (76) of the Federal General Budget Law No. (13) for the year 2023.”
And on (August 7, 2023), the Federal Supreme Court decided to dismiss the claim of the plaintiffs in form in the lawsuits with the number (175 / federal / 2023), (170 / federal / 2023), (169 / federal / 2023) and (165 / federal / 2023). ) and (154 / federal / 2023) and (166 / federal / 2023), regarding the challenge to the constitutionality of some articles of Law No. (13) for the year 2023 (the Federal General Budget Law of the Republic of Iraq) for the fiscal years (2023-2024-2025),
based on Referring to the provisions of Article (22) of Internal Regulation No. (1) for the year 2022 and in the context of Article (19) thereof, because the plaintiffs are not among the persons mentioned in the aforementioned article who have the right to challenge the constitutionality of the budget law and charge them with expenses, fees and attorney’s fees, and the rulings were issued in absolute agreement and binding on all authorities. LINK
Early Preparations For Participation In The {COP}
The first 2023/08/09 Omar Abdel-Latif The Ministry of Environment prepared early to participate in the Conference of the Parties (COP28), which will be held in the United Arab Emirates at the end of this year, stressing that Prime Minister Muhammad Shia’ al-Sudani will be the head of the Iraqi delegation to this conference.
The director of the Environmental Changes Directorate in the ministry, Youssef Muayad, told Al-Sabah: “The ministry, in coordination with the United Nations Development Program (UNDP), began preparing early for this conference, which will be held in mid-December of this year.
Informing the Prime Minister’s Office of this issue; that there should be preparations in a manner appropriate to Iraq, as it has become one of the countries most affected by climatic changes, including high heat waves, desertification, water scarcity, and the drying up of the marshes.
He added, “The government was serious about delivering a message to the world that Iraq shares the world’s concerns about climate change issues, with an emphasis on preserving the national interest and special circumstances, especially since it is one of the least countries in the world as a source of greenhouse gas emissions that cause global warming.”
He continued, “This conference will witness for the first time the organization of Iraq with its own pavilion, and the ministry has begun early preparations for it, after receiving final confirmation of its organization, and there is a complete agenda that includes all sectors in the country, such as governmental, civil society organizations, the private sector, and representatives of the region through organizing side events.”
And a cultural one that reflects success stories and represents the cultural heritage of Iraq, especially in the fields of women and youth.” https://alsabaah.iq/82061-.html
Early Preparations For Participation In The “Conference Of The Parties”
Iraq 2023/08/09 Baghdad: Omar Abdul Latif The Ministry of Environment prepared early to participate in the Conference of the Parties (COP28), which will be held in the United Arab Emirates at the end of this year, stressing that Prime Minister Muhammad Shia al-Sudani will be the head of the Iraqi delegation to this conference.
The director of the Environmental Changes Directorate in the ministry, Youssef Muayad, told Al-Sabah: “The ministry, in coordination with the United Nations Development Program (UNDP), began preparing early for this conference, which will be held in mid-December of this year.
Informing the Prime Minister’s Office of this issue; that there should be preparations in a manner appropriate to Iraq, as it has become one of the countries most affected by climatic changes, including high heat waves, desertification, water scarcity, and the drying of the marshes.
He added, “The government was serious about delivering a message to the world that Iraq shares the world’s concerns about climate change issues, with an emphasis on preserving the national interest and special circumstances, especially as it is one of the least countries in the world as a source of greenhouse gas emissions that cause combustion and global warming.”
He continued, “This conference will witness for the first time the organization of Iraq with its own pavilion, as the ministry began early preparations for it, after receiving final confirmation of its organization, and there is a complete agenda that includes all sectors in the country, such as governmental, civil society organizations, the private sector, and representatives of the region through organizing side events.”
And a cultural one that reflects success stories and represents the cultural heritage of Iraq, especially in the fields of women and youth.”
Moayad indicated, “Continuing coordination with the United Nations Development Program to form a negotiating delegation that includes more than 20 people representing all relevant sectoral ministries in addition to representatives of the region, and there will be continuous training workshops until next December.”
He stressed that “there is coordination with the (Iraq Damage) campaign to hold workshops for journalists and media professionals, emphasizing the issue of Iraq’s participation and its media dimension, and interactive discussions for youth and what is their role and vision in the next conference, as well as workshops for civil society organizations.”
He pointed out that the purpose of all this is not only for the negotiating paper to be governmental, but rather to be national.
Therefore, we were keen to take the visions of civil society organizations, youth and the regional government to combine them with the governmental vision to train the negotiating delegation on it, as it is included in the speech of the Prime Minister, who is hoped to be Head of the Iraqi delegation to the conference.
He noted that “the ministry will arrange activities for Iraqi youth, such as university students and outstanding students, to present side events at the Dubai conference, and to continue preparing many documentaries that represent the reality of climate change in Iraq.”
He explained that “there is a focus of the visions and outputs of the preparatory conference held in the German city of Bonn at the headquarters of the Climate Secretariat, which focused largely on fossil fuels and how to develop plans to get rid of them, especially since the Iraqi economy is 90 percent dependent on it,” noting that “the baseline for We know that Iraq is not one of the countries that cause global warming, so the importance of the conference and high early preparations will be some negotiating texts that will focus heavily on fossil fuel issues and how to get rid of it with timetables, and Iraq and the Group of Seventy-seven and OPEC and Arab countries are against this trend, so we will start By building partnerships and lobbies, and there will be a diplomatic move by the Ministry of Foreign Affairs on this issue,” expressing his fear that fossil fuel issues will be included in the final statement, phase-out, or restrictions on its use, which will cause a decrease in global demand for it.
Edited by: Muhammad Al-Ansari https://alsabaah.iq/82045-.html
