Saturday Morning Iraq Economic News Highlights 2-11-23
A New Statement From Parliamentary Finance Regarding The Budget
11/02/2023 Earth News / The Parliamentary Finance Committee confirmed today, Saturday, that there is no specific time period for passing the budget law in Parliament.
Committee member Mustafa Al-Karawi told Earth News Agency, “There is no specific time period in the House of Representatives to put forward the budget, but the more it is uncomplicated and agreed upon politically and mathematically, according to the instructions of the Financial Department Law No. 6 of 2019, the faster the approval procedures will be.” Al-Karawi added, “We hope that the budget will be real and clear in items and data, so that it can be discussed and approved faster.” https://earthiq.news/archives/197415
The US Congress Calls On Biden To “Take Action” Against The Intelligence Chief And Iraqi Ministers
Policy |Today, 15:28 Republican members of the US Congress called on President Joe Biden to take action against Iraqi ministers on charges of “involvement in terrorism,” according to correspondence between the two parties published by an American media network.
And the “Free Beacon” network stated in its translation report (Baghdad Today), that letters sent by members of Congress yesterday, Friday, to US President Joe Biden, include demands and pressures exerted on the US presidency to move and disclose procedures regarding the selection of ministers in Iraq that the US Congress accuses of having links to organizations. involved in terrorism,” they said.
They also called for “disclosing the measures that the Biden administration will take and explaining them to the deputies regarding preventing high-ranking Iraqi officials linked to organizations accused of terrorism from running important ministries in Iraq.”
These members of Congress, according to the American Network, referred to the Minister of Higher Education and Scientific Research, Naim al-Aboudi, the Minister of Electricity, Ziyad Fadel, the Minister of Defense, Thabet al-Abbasi, and the head of the Iraqi Intelligence Service, and asked the American President to explain what he intends to do against them.
Yesterday, Republican members of Congress, in a letter they submitted to Biden, requested the imposition of sanctions on Iraq and the freezing of its bank assets. . LINK
A Leader In Al-Fateh Talks About An American Strategy To “Change The Compass” Of Arming The Iraqi Army
Special permit |Today, 16:40 | A leader in Al-Fateh talks about an American strategy to “change the compass” of arming the Iraqi ar Iraqi-air-force
Today, Saturday, the leader of the Al-Fateh Alliance, Uday Abdul-Hadi, warned of an American strategy to change the compass of arming the Iraqi army.
Abd al-Hadi said in an interview with (Baghdad Today), that “more than half of the weapons and equipment of the Iraqi army are Russian-made, and this is a fact that no two dispute about,” pointing out that “these weapons need maintenance and spare parts from time to time.”
He added, “America is pressing to obstruct the arrival of spare parts for Russian weapons and equipment to Iraq under the pretext of the Ukrainian war and the existence of sanctions against Moscow, but the essence of what is happening is implementing a strategy towards changing the armament of the army to the American weapon through pressure, and this is what Western reports have shown recently.”
Abdel-Hadi warned of “the danger of Washington’s recent strategy and the importance of having a principle in diversifying weapons and equipment, with an emphasis on localizing military industries, especially within light ordnance, as a first stage to secure needs, especially as we are facing major security challenges.”
Earlier in the day, the American “The War Zone” council revealed, in a report translated by “Baghdad Today”, information provided by the leadership of the international coalition stating that there is “a plan to replace the fleet of military helicopters owned by Iraq, where the army is trying to obtain American-made helicopters instead.” About the Russian fleet in his possession.
The reasons, according to the report, are due to “the war in Ukraine and its effects. The Iraqi army is having difficulty obtaining spare parts for its Mi-17 helicopters, due to the Russian-Ukrainian war and Moscow’s diminished ability to supply spare parts for these helicopters.” , according to the magazine.
The report, which was translated by (Baghdad Today), explains that “Iraq’s current plan includes obtaining four Bell 412 APX helicopters and 16 Bell 412 medium payload helicopters, to replace the (MI-17) fleet that Iraq is currently using it.
According to “The War Zone” magazine, the Iraqi army intends to purchase 15 Bell 407M light attack aircraft, and associated weapons, missile and maintenance systems, as well as other plans to obtain 15 Bell 505 aircraft for training.
Earlier, international reports indicated that the sanctions imposed on Russia; Because of its invasion of Ukraine, it cut off the supply of spare parts for Iraqi military transport aircraft, indicating that the Iraqi army relies on its fleet of 40 Russian-made Mi-17 helicopters used for air transportation. LINK
Member Of The American Democratic Party To “Tigris”: Iran Obtains Dollars Through Smuggling From Iraq
https://www.dijlah.tv/index.php?page=article&id=324188
Al-Sudani: The Wheel Of Economic Reform Is Moving Forward, And Whoever Bets On Going Backwards Will Lose
Time: 02/11/2023 15:17:06 Read: 1,183 times {Politics: Al Furat News} Prime Minister Muhammad Shia Al-Sudani said today, Saturday, that the wheel of economic reform is moving forward as one of the priorities of the government’s ministerial curriculum.
His media office stated in a statement received by {Euphrates News} that “Prime Minister, Muhammad Shia’a Al-Sudani, presided over the third meeting of the Federation of Chambers of Commerce and the Association of Iraqi Banks, government financial agencies and departments; taxes and customs, as well as border crossings, the central bank and trade fairs, and during the meeting, developments were discussed. The economic situation throughout Iraq, and follow-up on the exchange rates of the dollar, after the Council of Ministers approved the Central Bank’s decision to reduce the official price of the dollar.
The statement continued, “The meeting witnessed a discussion of the mechanisms used to implement the decisions of the Council of Ministers in the financial aspects, in addition to discussing the implementation of the directives issued in the previous meeting,” stressing “the importance of continuing to hold these meetings, in order to overcome obstacles facing the private sector, which the government considers an essential partner.” implementation of its strategic programs and projects.
Al-Sudani stressed that “the wheel of economic reform is moving forward, as one of the priorities of the government’s ministerial platform,” stressing that “whoever bets on going backwards and practicing smuggling and violating laws and instructions is a losing bet, as the government and all its competent agencies will confront firmly all smugglers and speculators, and whoever It obstructs the course of reform, harms the Iraqi economy, and affects the living conditions of citizens. LINK
Al-Rafidain: The Maximum Ceiling For Selling Dollars At The Baghdad Airport Outlet Is 7 Thousand Dollars, At The Official Rate
02/10/2023 2441 Earth News / Today, Friday, Al-Rafidain Bank set the ceiling for selling dollars at the Baghdad airport outlet.
The bank said in a statement, received by Earth News, that “the upper ceiling for selling the dollar at the bank’s outlet at Baghdad International Airport amounted to 7000 thousand dollars, and at the official price set by the Central Bank 1320.” https://earthiq.news/archives/197087
Reducing The Exchange Rate.. Will Iraq Move To The “Punished Currencies” Zone?
1,387 The economist, Salam Sumaisem, shed light on an issue related to the move to reduce the exchange rate of the dollar, noting that it “contradicts” with Iraq’s post-2003 policy that goes towards the “freedom of exchange” system, not restricting it, wondering whether the step comes within the context of the “divorce of the dollar.” And moving to the penalized currency area.
Sumaisem said in an article published by the Public Policy-Making Forum-London, that “the reduction of the exchange rate is not a government decision, but rather it is the result of economic policies and reform measures that cause an adjustment in the exchange rate,” noting that “this reduction will lead to some obtaining a dollar at a reduced price and selling it at a lower price.” higher for people, and the difference between the two prices will be high, which leads to new inflation that hits the economy.”
She pointed out that “Iraq after 2003 abandoned the policy of restricting the exchange rate to a system of freedom of exchange,” while wondering whether “Iraq had retreated and decided to return to the previous system, or is it a step to divorce the dollar and move to the area ofpenalized currencies?”
And if the second goal is achieved, Sumaisem shows that there are two facts: “The first is that no oil country is allowed to value its oil in anything other than the dollar, and whoever dares to bear the consequences, like Venezuela, Iran, and Iraq before 2003.”
The second is that “the international monetary system for the world after 1945 and until now is a system that relies on the dollar, as the Bretton Woods agreement aims to create a kind of stability in monetary policies and exchange rates between countries of the world by laying the infrastructure for the movement of capital between countries as a basis for facilitating trade.” Global,” indicating that “Iraq does not need economic suicide, but rather a decision that recognizes Iraq’s economic importance and its great role.” https://takadum-news.com/archives/148328
To Follow Up The Exchange Rates.. Sudanese Chairs An Economic Meeting
Economie 2023-02-11 | 07:17 Source: Alsumaria News 4,182 views Today, Saturday, Prime Minister Muhammad Shia al-Sudani chaired the third meeting of the Federation of Chambers of Commerce, the Association of Iraqi Banks, and government financial agencies and departments. Taxes and customs, as well as border crossings, the central bank and trade fairs.
The media office of the Prime Minister said, in a statement received by Alsumaria News, that “during the meeting, developments in the economic situation throughout Iraq were discussed, and dollar exchange rates were followed up, after the Council of Ministers approved the Central Bank’s decision to reduce the official price of the dollar.”
He added, “The meeting witnessed a discussion of the mechanisms used to implement the decisions of the Council of Ministers in the financial aspects, in addition to discussing the implementation of the directives issued in the previous meeting.”
The office indicated that “the Prime Minister stressed the importance of continuing to hold these meetings, in order to overcome obstacles facing the private sector, which the government considers a key partner in implementing its strategic programs and projects.”
He explained that he “stressed that the wheel of economic reform is moving forward, as one of the priorities of the government’s ministerial platform.” Stressing that “whoever bets on going back and practicing smuggling and violating laws and instructions is a losing bet. The government and all its competent agencies will confront firmly all smugglers and speculators, and whoever obstructs the course of reform, harms the Iraqi economy and affects the living conditions of citizens.” LINK
