TNT:
Tishwash: The Prime Minister’s advisor: Al-Zidi’s government has taken measures to preserve the purchasing power of the dinar and curb inflation.
The Prime Minister’s Financial Advisor, Mazhar Muhammad Salih, affirmed on Saturday that the government, headed by Ali Falih Al-Zaidi, has taken measures to preserve the purchasing power of the Iraqi dinar and curb inflation.
Salih told the Iraqi News Agency (INA) that “the policy of stabilizing the official exchange rate is based on a fundamental objective: protecting the external value of the national currency and maintaining the stability of the general price level.” He pointed out that “the stability of the exchange rate has contributed to strengthening confidence in the Iraqi dinar and supporting the purchasing power of citizens.”
Salih added that “the relationship between the stability of the exchange rate and the stability of prices of goods and services in the local market has remained strong, given the limited impact of the parallel market on the pricing system and the effectiveness of monetary policy.” He explained that “financing imports through the official banking system and relying on the state’s foreign reserves has contributed to providing imported goods at stable and controlled prices.”
He continued, stating that “government policies aimed at maintaining the stability of prices for public goods and services, along with the expansion of modern commercial distribution methods, particularly cooperative stores and advanced marketing models, have strengthened competition and contributed to reducing inflationary pressures and supporting price stability.”
Saleh explained that “among the most prominent factors putting pressure on the value of the national currency are the decline in official reserves, uncontrolled monetary expansion, and excessive reliance on oil revenues, which are currently subject to geopolitical constraints imposed on the freedom of energy markets, in addition to political and regional tensions and their impact on foreign currency flows and economic confidence.”
He emphasized that “raising the value of the Iraqi dinar cannot be achieved through quick administrative decisions, but rather through a long-term reform process based on the stability of monetary and fiscal policies, diversification of national income sources, and strengthening confidence in the local currency.”
He noted that “the stability of the dinar remains a direct reflection of the stability of the macroeconomy and its ability to withstand local and international changes, which is what the government is working on through a package of measures to strengthen the value of the Iraqi dinar.
These measures include working to enhance foreign reserves, diversify the national economy and reduce dependence on oil, achieving stability in the balance of payments, as well as controlling the parallel market, reforming the banking system, expanding the use of electronic payment methods, and promoting financial inclusion.” link
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Tishwash: Iraqi Government: Companies in the Kurdistan Region Must Get Their Final Financial Reports Approved in Baghdad
Yad Nozad — 3 hours agoVarious currency exchange rates in Sulaymaniyah money market.
A new decision by Baghdad creates problems for the foreign transfer process of companies in the Kurdistan Region, forcing them to pay taxes twice and register in the center.
New Condition for Foreign TransfersStarting from June 1 of this year, the Iraqi government has imposed a new condition on companies in the Kurdistan Region. According to the decision, no company can carry out foreign transfers or send money through banks unless their final financial report (annual audit) is approved by the Iraqi Accountants and Auditors Association in Baghdad.
This step comes alongside the implementation of the ASYCUDA system at the borders of the Region.Two Taxes and Two Reports
This decision places a heavy financial burden on companies in the Region, as they will now have to prepare their final financial reports twice. This means they must pay taxes twice — once to the Kurdistan Regional Government and once to the federal government in Baghdad.
This significantly increases their operating costs.Marginalizing Accountants in the RegionAnother challenge of this decision is that banks will no longer accept approvals from legal accountants in the Kurdistan Region.
Companies are now forced to register in Baghdad, and only Iraqi (federal) accountants can approve their reports. Otherwise, their auditing and money transfer processes in banks will be disrupted.
Kurdistan Delegation Visit to Baghdad To resolve this issue and discuss the implementation of the ASYCUDA system, a delegation from the Kurdistan Regional Government is scheduled to visit Baghdad in the coming days. The goal of the delegation is to address these new obstacles and find solutions to prevent further damage to companies and traders in the Kurdistan Region. link
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Tishwash: Miles Caggins: Oil companies want guarantees
23 minutes ago
Miles Caggins, spokesman for the Kurdistan Regional Petroleum Industry Association (Epicur)
The former spokesman of the Kurdistan Regional Government (KRG) said that the main reason for the non-resumption of oil production companies in the Kurdistan Region was security threats and drone and missile attacks.
Companies were at risk
Miles Caggins, in an exclusive interview with Channel 8, said that recently after the ceasefire between Iran and the United States and the calm of the war situation, companies resumed operations secretly, but again the companies were attacked, so they stopped working.
Guarantee operational security
He said the companies have clearly told the relevant authorities that they will not resume work until the security of their work is guaranteed.
Debt is still debt and has not been repaid
Regarding the $1 billion debt of the companies, which was agreed between the Iraqi government and the Kurdistan Regional Government, the former spokesman of Epicor said: “So far, the debt has not been recovered, but the companies have not made this the main problem.
Resumption of corporate operations
In a meeting between the Kurdistan Regional Government (KRG) delegation and Iraqi Prime Minister Ali Zaydi, he called on the oil companies to resume operations and promised to implement their demands. llink
Tishwash: Parliamentary Defense Committee: Four important laws on the parliamentary agenda after the recess
The Parliamentary Security and Defense Committee confirmed on Thursday
that four important laws will be discussed and undergo their first and second readings after the end of the parliamentary recess.
Committee member MP Yasser Watout told Al-Maalomah, “Four important laws will be discussed and undergo their first and second readings, leading to a vote, after the end of the parliamentary recess, that is, after July 1st.”
He added that “the most prominent of these laws concerns amending the law governing the service of the Internal Security Forces, in addition to other equally important laws.” He pointed out that “the Security and Defense Committee is serious about finalizing these laws and expediting the necessary procedures and amendments in order to complete the first and second readings and proceed to a vote.”
Watout emphasized that “these laws are of great importance in guaranteeing the rights of members of the security and military forces,” explaining that “the proposed amendments will take into account all opinions, including those of security leaders, to ensure the enactment of more effective and efficient laws.” link
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Tishwash: MP: The session to complete al-Zaydi’s cabinet will be held soon, and the same names will not return.
MP Mohammed Karim Al-Baldawi, a member of the Coordination Framework, confirmed on Thursday that there is an agreement to hold a session of the House of Representatives in order to complete the vote on the remaining ministerial lineup of Prime Minister Ali Falih Al-Zidi’s government.
Al-Baldawi told Al-Maalouma that “the political blocs are moving towards replacing the previous names nominated for the nine ministerial portfolios, and presenting new figures who are suitable for the requirements of the stage and to fill the vacant positions.”
He added that “through this approach, the parties seek to give themselves and society a greater sense of reassurance by putting forward new names that enjoy wider acceptance.”
Regarding the coordination framework, Al-Baldawi stressed that it is “strong and cohesive despite the existence of differing viewpoints on some contentious issues among its components,” indicating that “the framework represents the backbone of the political process, and whoever bets on influencing its unity is mistaken, and everyone must work to preserve it.”
He pointed out that “weakening the coordination framework means weakening the entire political system in the country.”
Political circles are awaiting the scheduling of a session to complete the vote on the cabinet of Ali Faleh al-Zaidi’s government, aiming to resolve the dispute that arose from the previous session. This dispute stemmed from political accusations leveled against Speaker of Parliament Haibat al-Halbousi, alleging he deliberately obstructed the approval of certain ministerial nominees and prevented them from being presented for a vote of confidence. link
