Saturday Morning Iraq Economic News Highlights 5-13-23
Sudanese Advisor: The Dinar Is Strong And The Exchange Rate Will Decline Again In The Next Few Days
Money and business Economy News – Baghdad The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Saturday, that the central bank controls the exchange rate, and the rise in the dollar is a “temporary disturbance.”
And Saleh stated in a press statement, that “after the Central Bank of Iraq controlled the exchange rate through its calm monetary policy, and through packages facilitating external transfer in accordance with international compliance controls, and the great effort of the government by facilitating imports, there was stability in the exchange rate and the exchange rate became The parallel exchange rate is close to the official rate.
However, he added, “But organized crime gangs took advantage of (electronic) travelers’ cards. These gangs illegally and legally use citizens’ passports in order to issue electronic cards and smuggle them out of Iraq in order to finance black transfers and smuggle money.”
He added, “What organized crime gangs are doing has created a temporary disturbance in the exchange rate in the local market. There are deterrent measures taken by the government against these gangs, to reduce this dangerous phenomenon of smuggling, money laundering, and manipulation of citizens’ rights.”
The financial and economic advisor to the Prime Minister confirmed that “the exchange rate in the local market will be better during the next few days, and the dinar is strong, and the exchange rate will decline again, until the official price is reached.” 05/13/2023 – LINK
Sudanese Advisor: The Rise In The Exchange Rate Of The Dollar Is A “Time Disturbance”
Economy| 05/13/2023 Baghdad – Mawazine News The financial and economic advisor to the Prime Minister, Mazhar Muhammad Salih, said, on Saturday, that the central bank controls the exchange rate, and the rise in the dollar is a “temporary disturbance.”
And Salih stated in a press statement, that “after the Central Bank of Iraq controlled the exchange rate through its calm monetary policy, and through packages facilitating external transfer in accordance with international compliance controls, and the great effort of the government by facilitating imports, there was stability in the exchange rate and the exchange rate became The parallel exchange rate is close to the official rate.
However, he added, “But organized crime gangs took advantage of (electronic) travelers’ cards. These gangs illegally and legally use citizens’ passports in order to issue electronic cards and smuggle them out of Iraq in order to finance black transfers and smuggle money.”
He added, “What organized crime gangs are doing has created a temporary disturbance in the exchange rate in the local market. There are deterrent measures taken by the government against these gangs, to reduce this dangerous phenomenon of smuggling, money laundering, and manipulation of citizens’ rights.”
The financial and economic advisor to the Prime Minister confirmed that “the exchange rate in the local market will be better during the next few days, and the dinar is strong, and the exchange rate will decline again, until the official price is reached.” https://www.mawazin.net/Details.aspx?jimare=226733
Parliamentary Finance: The Budget Discussions Have Reached Advanced Stages And We Are Proceeding With Its Approval As Soon As Possible
Political | 05/13/2023 Baghdad – Mawazine News, the second deputy head of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, said, on Saturday, that the budget discussions have reached “advanced stages”, after the committee hosted most of the ministries and institutions, of which only a few remained.
Al-Dulaimi stated in an interview with the official newspaper, followed by Mawazine News, that “the committee has reached a vision that it is very difficult to reduce the amount of spending in it, as we found real spending that the state needs because of the obligations or financial sums it incurred due to exceptional circumstances, such as demonstrations and other problems.” In addition, the launch of appointments added huge financial burdens to them.
She explained, “The size of the budget has reached 198 trillion dinars, and it is very difficult to reduce it, but we are trying to address the deficit imbalance by maximizing state revenues and setting texts to achieve collection, as our non-oil revenues are not at the level of ambition, and we need support and regulation of revenues in order to match oil revenues or At least, it will be at a reasonable rate in the budget, and not at this very small percentage.
Al-Dulaimi added, “The Finance Committee directs to support the families of the martyrs because their budgets are few and do not rise to the level of ambition, especially those who were martyred in recent years during the war with (ISIS) to the present time.”
While she referred to the meeting of the State Administration Coalition, which set May 17 as the initial date for voting on the budget, she stressed that “the committee will proceed with approving the budget as soon as possible, because the Iraqi street is waiting for the door of spending to be opened to change the difficult living conditions it is going through.” https://www.mawazin.net/Details.aspx?jimare=226734
Parliamentary Finance Is Close To Ending The Budget Discussions
The first 2023/05/13 Muhannad Abdel Wahhab The Finance Committee in the House of Representatives is close to finalizing the discussions of the paragraphs of the general budget, as it has come a long way by hosting the relevant ministries and institutions, confirming its endeavor to increase the allocations for the development of regions in the governorates within the draft budget.
The second vice-chairman of the Finance Committee, Ikhlas Al-Dulaimi, told Al-Sabah: “The budget discussions have reached advanced stages, after the committee hosted most of the ministries and institutions, of which only a few are left.”
And she stated, “The committee reached a vision that it is very difficult to reduce the amount of spending in it, as we found real spending that the state needs because of the obligations or financial sums it incurred due to exceptional circumstances, from demonstrations and other major problems, in addition to the fact that launching appointments added large financial burdens.” on her”.
She explained, “The size of the budget has reached 198 trillion dinars, and it is very difficult to reduce it, but we are trying to address the deficit imbalance by maximizing state revenues and setting texts to achieve collection, as our non-oil revenues are not at the level of ambition, and we need to support and organize revenues in order to match oil revenues or in The lowest is at a reasonable rate in the budget, and it is not at this very small percentage.”
Al-Dulaimi added, “The Finance Committee is directed towards supporting the segment of the families of the martyrs because their budgets are few and do not rise to the level of ambition, especially those who were martyred in recent years during the war with (ISIS) to the present time.”
May 17 is the initial date for voting on the budget, and she confirmed that “the committee will proceed with approving the budget as soon as possible, because the Iraqi street is waiting for the door of spending to be opened to change the difficult living conditions it is going through.”
For his part, a member of the Finance Committee, Mueen Al-Kazemi, explained to “Al-Sabah” that “the committee appreciates the need of the provinces, and in appreciation of the good performance of some governors, there is a tendency to increase the development of the regions from 2 trillion and 500 million to 4 trillion dinars, taking into account that the budget Emergency support was disbursed to the governorates at the beginning of this year 2023, and much of it has not been spent yet,” revealing that ”
Edited by: Muhammad Al-Ansari https://alsabaah.iq/76778-.html
Parliamentary Finance: Voting On The 2023 Budget Next Week
Information / Baghdad.. Member of the Parliamentary Finance, Representative Mudar Al-Karawi, expected, on Saturday, that the House of Representatives would start voting on the 2023 budget next week.
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Al-Karawi said, in an interview with Al-Maalouma, that “the Parliamentary Finance Committee is working around the clock in order to resolve the budget items after conducting a long series of hosting ministers, directors and governors to find out the nature of the needs and the possibility of including them in the budget.”
He added, “The budget will be put to vote during the next week,” noting that “efforts are currently focused on reducing the fiscal deficit as much as possible and providing funds for some important items that we see will help create continuity in projects to provide basic services.”
He pointed out that “the 2023 budget includes multiple challenges, and the Finance Committee is trying to reduce them as much as possible, while seeking to reduce loans to bridge the financial gap.”
The House of Representatives has intensified its meetings recently in an effort to proceed with the 2023 budget, despite the challenges in the deficit file and oil prices. LINK
Forming Committees To Find Out The Final Variables In The 2023 Budget
Information / Baghdad .. A member of the Parliamentary Strategic Planning Committee, Muhammad Al-Baldawi, announced, on Saturday, the formation of committees to finally review the schedules contained in the budget law, according to the changes that occurred as a result of the recent hosting.
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Al-Baldawi said in a statement to Al-Maalouma agency, “The Finance Committee formed sectoral committees from within it to review the schedules contained in the budget law once and for all, according to the changes that occurred as a result of the hosting and the deletion of some paragraphs of the law,” noting that “presenting the draft budget law for voting depends on the speed of achievement of the sectoral committees.
He added, “The sectoral committees will match the schedules according to the changes that took place after hosting ministers, governors, and all parties that were hosted within the committee, as well as reviewing transfer procedures, increases and decreases, and deleting some paragraphs that took place during the committee’s discussions.”
Al-Baldawi continued, “The presentation of the draft budget law to vote depends on the speed of completion of the sectoral committees formed by the Finance Committee,” noting that “the work of the committee will end in the middle of this week.”
The deficit rate amounted to 63.275 trillion dinars, with the adoption of a price of 70 dollars per barrel of oil, given that more than 95 percent of budget revenues depend on oil sales. LINK
Parliamentary Finance: It Is Very Difficult To Reduce The Budget
Money and business Economy News – Baghdad The second deputy head of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, said, on Saturday, that the budget discussions have reached “advanced stages”, after the committee hosted most of the ministries and institutions, of which only a few remained.
Al-Dulaimi stated, “The committee has reached a vision that it is very difficult to reduce the amount of spending in it, as we found real spending that the state needs because of the obligations or financial sums it incurred due to exceptional circumstances, such as demonstrations and other major problems, in addition to the fact that launching appointments added burdens.” Big money for it.
She explained, “The size of the budget has reached 198 trillion dinars, and it is very difficult to reduce it, but we are trying to address the deficit imbalance by maximizing state revenues and setting texts to achieve collection, as our non-oil revenues are not at the level of ambition, and we need support and regulation of revenues in order to match oil revenues or At least, it will be at a reasonable rate in the budget, and not at this very small percentage.
Al-Dulaimi added, in an interview with the official newspaper, that “the Finance Committee directed towards supporting the segment of the families of the martyrs because their budgets are few and do not rise to the level of ambition, especially those who were martyred in recent years during the war with (ISIS) to the present time.”
While she referred to the meeting of the State Administration Coalition, which set May 17 as the initial date for voting on the budget, she stressed that “the committee will proceed with approving the budget as soon as possible, because the Iraqi street is waiting for the door of spending to be opened to change the difficult living conditions it is going through.” 05/13/2023 – https://economy-news.net/content.php?id=34164
