Saturday Morning Iraq Economic News Highlights 4-29-23
The Budget And “Important” Laws Related To Investment And The Economy Are On The Meeting Table Of The Presidency Of Parliament
Money and business Economy News – Baghdad The Presidency of the House of Representatives stressed, on Saturday, the importance of enacting the budget law, while pointing to the need to ratify and approve the agreements requested by the government.
A statement by the Parliament’s media office stated, “The Presidency of the Parliament held its meeting under the chairmanship of Parliament Speaker Muhammad al-Halbousi and the presence of the first deputy speaker of the parliament, Mohsen al-Mandalawi, and the deputy speaker of the parliament, Shakhwan Abdullah.”
The statement added that “during the meeting, a number of issues related to the Council’s work were discussed, the most important laws presented in the committees, and an emphasis on the importance of its legislation during the coming period, including the Federal General Budget Law, and other important laws related to many sectors such as investment, economy, agriculture, security and social welfare, In addition to ratifying and approving the agreements requested by the government.
https://economy-news.net/content.php?id=33882
Parliament Is Likely To Read The 2023 Budget Only, Without The Next Two Years
Today, Saturday, Parliament suggested reading the 2023 budget without 2024 and 2025.
Representative Amir Al-Mamouri said, “All the hosts of officials regarding the budget included a representative of the prime minister,” stressing that “the Sudanese will be hosted if the matter is called for.”
He added, “The current budget is an explosive budget, and it included many unplanned expenses, so it needs to be prepared, organized and arranged in the required manner and in accordance with the requirements, prepared programs and priorities, to be ripened and voted on during the specified period.”
Al-Mamouri suggested by saying: “There may be a reading of the 2023 budget only, reading and not reading other budgets, since there is a political dispute regarding this paragraph.”
Government Financial Advisor: The Price Of The Dollar Will Settle At 130,000 Dinars In The Coming Days
The government’s financial advisor, Mazhar Muhammad Salih, suggested that the dollar exchange rate would stabilize at 130,000 dinars in the next few days
Muhammad Salih said in a press interview, which was seen by “Takadum”, that “the monetary policy of the Central Bank of Iraq has recently achieved remarkable success in applying the “compliance platform”, which subject foreign currency transfers to international compliance controls, transparency and high governance, all of which are in the interest of Iraq while knowing the trends of Foreign currency, its transfers and trends, and the interest of the national economy.
And he pointed out, “The central bank’s window sales reached the high stable rate, and stability actually provides a convergence between the official exchange rate and the parallel market rate in “banking offices.” On this basis, we note that the official exchange rate approached the market price, albeit gradually, towards the official price, and the coming days witness an acceleration greater in stability.”
And the government advisor continued, that the “compliance platform”, which was launched recently, has achieved wide and great success, and the market has adapted to its requirements, and it is expected that the dollar exchange rate will stabilize at 130,000 dinars in the next few days.
مستشار الحكومة المالي: سعر الدولار سيستقر عند 130 الف دينار الايام المقبلة
Washington Renews Its Support To Help Iraq To Start Construction Operations
Time: 04/29/2023 {Local: Al Furat News} Today, Saturday, the US Ambassador to Iraq, Alina Romanowski, affirmed her country’s commitment to its duties before the Iraqi people to properly establish investment projects.
The governor of Anbar, Ali Farhan al-Dulaimi, said during a joint press conference with the US ambassador, “The visit of the US ambassador is the first to the province, as the visit schedule includes a meeting with the local government and a visit to a number of projects implemented by the US Agency for Development, including energy projects and infrastructure projects.” In general, the ambassador will also meet the sheikhs and dignitaries of Anbar province and youth organizations.
Al-Dulaimi added, “The United States of America has a very big role in supporting Iraq in general through the international coalition in expelling and liberating Iraq from terrorist gangs and contributing with the security forces and the popular crowd in military operations. It also has contributions with the international community in removing mines and explosive devices left behind.” ISIS terrorist gangs in the cities, facilitated the entry process, and then started construction and stabilization operations.
He continued, “The United States of America has also worked to provide support through other international organizations operating in Iraq, and to establish a large number of projects in the province.”
He pointed out that “the local government contributed to providing the required projects to all organizations according to specialization and funding, and thus we succeeded in implementing a large number of vital, important and strategic projects in the governorate, including the construction of a large number of bridges, infrastructure and education projects.”
For her part, the US ambassador said, “The meeting with the governor and the people of Anbar came to focus on priorities, on how to provide possible and direct support to Anbar Governorate and the Iraqi people in general.”
And she stressed that “the United States of America is committed to its duties before the Iraqi people, to preserving the sustainability of the defeat against the terrorist gangs of ISIS, and to establish investment projects in the right manner to support Anbar Province.”
She stated that “one of the most important things that ambassadors do in general to represent their countries in the best way is to visit the different regions of the countries in which they are present, and we here in Iraq are working to achieve this goal.” LINK
The First Government Comment On Currency Smuggling Through Electronic Payment Cards
Baghdad today – Baghdad Today, Saturday, Mazhar Muhammad Salih, the economic advisor in the Iraqi government, commented on the smuggling of dollars through the “electronic payment card.”
Saleh told (Baghdad Today) that “after strict controls were put in place by the central bank and the government that prevented currency smuggling outside the country, some people worked to use electronic payment methods and provide travelers with prepaid or credit cards under the pretext of feeding the need of the beneficiary traveler for the currency.” foreign countries, specifically for the purposes of tourism and travel,” noting that “this matter was also revealed, and there is a strong follow-up to it.”
He pointed out that “there are those who work to smuggle currency by withdrawing money from ATMs in mostly foreign countries and using its liquidity that indicates the rights of others and for the benefit of one beneficiary or a group of beneficiaries from the elements of crime, including its later use in black transfers.”
The government advisor stated that “these actions contradict the laws of combating money laundering, crime and terrorism funds.”
Saleh emphasized that “anyone who works to smuggle currency through this method will expose himself to accountability and legal accountability, and there are many cases that have been detected and work is continuing to prevent any cases of currency smuggling in any way.”
Earlier, the Customs Authority revealed that it had thwarted attempts to smuggle more than $5 million using electronic payment cards. LINK
Jamal Cougar: The Budget Will Be Approved When The Fiscal Deficit Is Reduced
Economy 13:54 – 2023-04-29 A member of the Parliamentary Finance Committee, Representative Jamal Cougar, confirmed, on Saturday, that his committee will continue to host executive officials in the government to pass the budget, indicating that setting the date for approving the budget depends on an agreement to reduce the budget deficit to reasonable limits.
Cougar said in a press statement, “Since last Wednesday, the Finance Committee has begun to amend the paragraphs and articles within the federal budget in accordance with its constitutional powers.”
He added, “The committee formed several committees for the purpose of hosting executive officials to discuss their financial allocations in the budget to speed up the process of completing the amendments according to the requests they submitted in advance,” noting that “the work of the committees will not take long due to the existence of a political consensus.”
He explained that “the committee is conducting an in-depth study for the purpose of reducing the fiscal deficit in the federal budget and bringing it to reasonable numbers. https://kirkuktv.net/AR/Details/14940
The Decline In Dollar Prices In Baghdad And Its Stability In Erbil
2023-04-29 02:18 Shafaq News/ The exchange rates of the US dollar decreased against the Iraqi dinar, today, Saturday, in the main stock exchange in the capital, Baghdad, while it stabilized in Erbil, the capital of Kurdistan Region.
Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 141,200 Iraqi dinars for 100 US dollars this morning.
While the prices last Thursday morning were 141,400 dinars for 100 dollars.
Our correspondent indicated that the buying and selling prices decreased in the exchange shops in the local markets in Baghdad, as the selling price reached 142,250 Iraqi dinars per 100 US dollars, while the buying prices amounted to 140,250 Iraqi dinars per 100 US dollars.
In Erbil, the capital of the Kurdistan Region, the price of the dollar recorded stability, as the selling price reached 141,650 dinars against the dollar, and the purchase price was 141,300 dinars against 100 dollars. LINK
Integrity Implements Another Link In Muthanna, And The Result Is The Seizure Of Millions Of Dinars
Baghdad-Iraq today: The Federal Integrity Commission announced the seizure of cases of embezzlement and abuse in real estate grants allocated to the families of martyrs in Wasit Governorate, while it seized a number of those accused of bribery in Al-Muthanna Governorate.
A statement by the Commission’s Investigation Department stated that its field services team in Wasit Governorate, when auditing transactions at the Martyrs Foundation – the governorate branch, was able to control cases of embezzlement and abuse in real estate grants allocated to the families of martyrs, amounting to (7) billion dinars and (210) million dinars.
And she continued, that the team’s investigations led to the discovery of the presence of (26) instruments worth (292) million dinars that were issued by the former director of the institution’s branch in the governorate, contrary to the instructions and controls and before the date set for disbursement, confirming that judicial approvals had been obtained to seize checks, transactions and daily records, and included in the seizure report. fundamentalist; in order to present it to the investigating judge.
On the other hand, the department indicated that the staff of the Commission’s investigation office in Al-Muthanna governorate was able to apprehend three persons accused of bribery in flagrante delicto while they were trying to receive sums of money from employees of the governorate’s police. Coordination meeting with employees of the governorate office; For the purpose of purchasing plots of land allocated to associates, and then replacing them with plots with a better location located in the center of the province.
The statement concluded that the operation resulted in the arrest of the defendants red-handed while they were receiving the amounts of bribes agreed upon in advance, and their statements were duly recorded.In order to present them, along with the seized secretions, to the competent investigating judge. LINK
The Federal Integrity Commission announced the seizure of cases of embezzlement and abuse in real estate grants allocated to the families of martyrs in Wasit Governorate, while it seized a number of those accused of bribery in Al-Muthanna Governorate.
A statement by the Commission’s Investigation Department stated that its field services team in Wasit Governorate, when auditing transactions at the Martyrs Foundation – the governorate branch, was able to control cases of embezzlement and abuse in real estate grants allocated to the families of martyrs, amounting to (7) billion dinars and (210) million dinars.
And she continued, that the team’s investigations led to the discovery of the presence of (26) instruments worth (292) million dinars that were issued by the former director of the institution’s branch in the governorate, contrary to the instructions and controls and before the date set for disbursement, confirming that judicial approvals had been obtained to seize checks, transactions and daily records, and included in the seizure report. fundamentalist; in order to present it to the investigating judge.
On the other hand, the department indicated that the staff of the Commission’s investigation office in Al-Muthanna governorate was able to apprehend three persons accused of bribery in flagrante delicto while they were trying to receive sums of money from employees of the governorate’s police. Coordination meeting with employees of the governorate office; For the purpose of purchasing plots of land allocated to associates, and then replacing them with plots with a better location located in the center of the province.
The statement concluded that the operation resulted in the arrest of the defendants red-handed while they were receiving the amounts of bribes agreed upon in advance, and their statements were duly recorded.In order to present them, along with the seized secretions, to the competent investigating judge. LINK
