Saturday AM Iraq Economic News Highlights 8-20-22
With The Resignation Of The Minister Of Finance.. The Dollar Is Falling In The Baghdad Markets
Shafaq News/ The dollar exchange rates declined in Baghdad markets, on Tuesday, with the resignation of Finance Minister Muhammad Allawi.
Shafak News Agency correspondent said that the Central Kifah and Al-Harithiya Stock Exchange in Baghdad registered at 3:00 p.m. today, Tuesday, 148,200 Iraqi dinars, compared to 100 US dollars.
The price of the dollar this morning recorded 148,450 Iraqi dinars, compared to 100 dollars.
Our correspondent indicated that buying and selling prices decreased in banking shops in the local markets in Baghdad, where the selling price amounted to 148,750 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 147,750 Iraqi dinars per 100 US dollars.
This decline comes shortly after the Iraqi Finance Minister, Ali Allawi, submitted his resignation from his position during the session of the Council of Ministers held, while the Prime Minister agreed to it. LINK
Parliamentary Integrity: We Follow The Management Of The Ministry Of Finance, And This Is Related To Corruption Files
Sumerian special 2022-08-20 | 05:19 255 views Alsumaria News – Special A member of the Parliamentary Integrity Committee Ahmed Al-Rubaie confirmed today, Saturday, that the committee will follow up the work of the administration of the Ministry of Finance, while noting that the corruption files related to the ministers will remain open to the integrity and the Iraqi judiciary until their convictions are proven.
Al-Rubaie said in an interview with Alsumaria News, “Integrity, as a sectoral committee, is among the priorities of our work to follow up on all corruption files that occur in all parts of the state, whether they are governorates, ministries or state departments.”
He added, “The Integrity Committee will follow up the files of the Ministry of Finance ‘s administration and its work in coordination with other regulatory authorities, such as the Integrity and Judiciary Commission.”
A member of the Parliamentary Integrity Committee explained that “some corruption files that pertain to the ministries will remain under the gaze of the judiciary, the Integrity Commission and the relevant authorities, considering the accused is innocent until proven guilty,” noting that “many people’s files will remain on the table, so that they can be held accountable when proven. The judiciary and supervisory authorities convicted them.
Member of Parliament Basem Khashan had revealed, earlier, new corruption files that are chasing Oil Minister Ihsan Abdul-Jabbar, in what he considered one of the huge windows of corruption in the current government, revealing moves to refer him to the judiciary.
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And Prime Minister Mustafa Al-Kazemi had agreed, earlier, to dismiss the former Minister of Finance, Ali Abdul Amir Allawi, and to appoint the Minister of Oil, Ihsan Abdul-Jabbar, in his place by proxy. LINK
An Increase In The Exchange Rates Of The Dollar In Iraq
Economie 2022-08-20 | 03:38 2,805 views Alsumaria News – Economy Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets on Saturday.
And the selling prices of the dollar recorded today, Saturday, 148,100 dinars per 100 dollars, while the purchase prices of the dollar were 148,000 dinars per 100 dollars. LINK
Shafak News Publishes Gold Prices In Baghdad And Erbil
Shafaq News/ “foreign and Iraqi” gold prices decreased in the local markets in the capital, Baghdad, and in the markets of Erbil, the capital of Kurdistan Region, today, Saturday (August 20, 2022).
Shafak News Agency correspondent said that gold prices in the wholesale markets on Al-Nahr Street in the capital, Baghdad, recorded this morning, the selling price of one weight of 21 karat of Gulf, Turkish and European gold is 362 thousand dinars, and the purchase price is 358 thousand, while the selling prices for last Thursday were 363 thousand. Dinar per weight.
Our correspondent indicated that the selling price of one 21-carat weight of Iraqi gold also decreased at 322 thousand dinars, and the purchase price reached 318 thousand.
With regard to gold prices in goldsmiths’ shops, the price of selling the weight of Gulf gold 21 carat ranges between 365 thousand and 375 thousand dinars, while the selling price ranged from the weight of Iraqi gold between 325 thousand and 335 thousand dinars.
Meanwhile, Erbil gold prices witnessed a decline in its markets, as the selling price reached:
24 karat gold weight for 420,000 thousand Iraqi dinars
22 carat gold weight for 385,000 Iraqi dinars
21 karat gold weight for 375,000 Iraqi dinars
An 18 karat gold weight for 315,000 Iraqi dinars
It is equal to one mithqal of gold (five grams). LINK
By More Than 9%..A Decline In Iraq’s Oil Exports To India Last Month
Economic news August 20, 2022 By more than 9%..a decline in Iraq’s oil exports to India last month 1-35
International oil data showed a decline in Iraq’s oil exports to India by more than 9% last July.
According to the data, according to Reuters, “India in general (the third largest importer and consumer of oil in the world) shipped 3.2% less oil in July, than in June, at 4.63 million barrels per day, as some refineries planned to switch to maintenance as of this August.”
The data showed that “the share of Middle East oil in India’s total imports declined slightly in July, as it reduced its purchases from Iraq by 9.3% to less than one million barrels per day for the first time in 10 months, but it remained in first place as the largest exporter of oil to India.” .
While India’s oil imports from Saudi Arabia rose by 25.6 percent to 824,700 barrels per day in July, the highest level in three months, after the product reduced the official selling price in June and July compared to May, Saudi Arabia remained third among India’s suppliers after each of Iraq and Russia.
India shipped 877,400 barrels per day of oil from Russia in July, down about 7.3% from June, with Russia still the largest oil supplier after Iraq. https://khabaar.press/archives/94085https://khabaar.press/archives/94085
Including Iraq.. Middle Eastern Countries Revive Their Coffers Due To Energy Sales
Economie| 11:29 – 19/08/2022 Baghdad – Mawazine News, the International Monetary Fund said that the countries of the Middle East rich in energy resources will reap up to 1.3 trillion dollars in additional oil revenues over the next four years.
The fund attributed this to unexpected gains, which would enhance the financial strength of sovereign wealth funds in the region at a time when global asset prices are increasingly declining, according to the Financial Times.
The International Monetary Fund’s forecasts confirm how “high energy prices are working to revive the coffers of the Gulf states, while most other countries of the world are grappling with high rates of inflation and fears of recession.”
As for the forecast before the crisis in Ukraine, the region’s oil and gas exporters, particularly the Gulf states, “will see additional cumulative oil revenues of $1.3 trillion through 2026,” Jihad Azour, director of the International Monetary Fund for the Middle East and North Africa, told the newspaper.
Azour added that it is important for Gulf countries to take advantage of the recent sudden gains to “invest in the future”, including preparations for the global energy transition.
Electricity: We Are Close To Adding More Than 1,200 Megawatts To The National System
local| 09:57 – 19/08/2022 Baghdad – Mawazine News , Friday, the Ministry of Electricity called on the security services to open an investigation into the file of targeting towers to reach those involved, while confirming its intention to introduce 1200 megawatts of energy into the system.
A spokesman for the Ministry of Electricity, Ahmed Moussa, said in a television interview, which was followed by “Mawazine News”, that “the ministry is exposed to an indiscriminate war to sabotage the efforts of the system and is the arm of the government effort with an important file related to the Iraqi citizen.”
He added, “Power transmission lines and towers were targeted with a systematic and clear campaign, and two days ago, the 400K lines north of Basra were targeted with gunfire, and the system was almost separated from service in all southern governorates.”
And he continued, “Yesterday, also, power transmission lines were separated from 3 in the morning until 12 in the afternoon after tampering with one of the power lines, and also yesterday and today, the first was targeted in Salah al-Din with explosive devices, and the second in Kirkuk, and also the northern lines were almost separated as a result of it.”
Moussa pointed out that “the Ministry of Electricity has previously warned against targeting electricity towers during the summer, which extends over a distance of 23,000 kilometers, and this issue has always occupied the Prime Minister and the Council of Ministers and recommended the adoption of drones or emergency regiments and the installation of surveillance cameras on strategic lines.
There is a security and intelligence effort, but on the other hand.” There are those who want to harm citizens, and we ask the security services to open an investigation file to reach those involved and find out the possibility of suspicions targeting government work and harming citizens.”
Regarding the electricity situation in the coming days, Moussa explained that ”
He pointed out that “with the introduction of these energies, transmission lines will be introduced to accommodate those produced loads, as well as support the distribution sector to keep pace with the hours of electricity supply through the opening of transformative, fixed and mobile stations, and accordingly, we will reach a production of approximately 24 thousand megawatts per day.” Ended 29/R77
