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Tishwash: Parliamentary planning: The budget will be passed quickly when presented to a vote

The Government Program Control and Strategic Planning Committee, Tuesday, ruled out returning the budget to the government because the amendments that were made in agreement with the government are likely to pass the budget quickly if it is presented to a vote.

The deputy head of the committee, Muhammad Karim, said in a press interview, that “the Finance Committee communicates first-hand with the government when making amendments to the budget paragraphs by taking into account the government’s view,” excluding “returning the budget to the government because its point of view is first informed.”

He added that “most of the representatives of the political blocs, including those in the region, are keen to find solutions to the problem of the region and that solutions are available because the two parties have come a long way from the agreement,” indicating that “this eagerness to pass the budget quickly without tugging.”

Karim indicated that “there is no estimate for the mother to present the budget in a specific time as it is related to resolving all the obstacles that concern the region.”   link

Tishwash:  Parliament: The visit of the Kurdish delegation will result in a joint agreement and vote on the budget on this day?

The Parliamentary Finance Committee considered, on Tuesday, that the visit of the Kurdish delegation scheduled for today will result in a joint agreement, pointing out that the vote on the budget will be either Thursday or Saturday.

The deputy of the committee, Shirwan Mirza, said that “during the next two days, crucial meetings will be held to finalize the issue of the Kurdistan region’s share of the federal budget for the year 2021, because matters have reached the end and it is not permissible to delay the budget any longer.”

He added, “All orientations are going to hold a session to vote on the budget, either next Thursday or Saturday next week. Therefore, during the next two days, crucial meetings will be held to finalize the draft budget bill.”

He explained, “There is a great convergence between the negotiating delegation of the Kurdistan Regional Government and the Finance Committee, and I envision that there will be a joint agreement on the Kurdistan region’s share of the budget soon.”  link

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Cutebwoy:  Al-Khalidi is surprised that the cabinet has formed a committee to study the consequences of changing the currency excha

The head of the committee to follow up on the implementation of the government program and strategic planning, Hazem al-Khalidi, was surprised today, Tuesday, that the Cabinet had formed a committee to study the consequences of changing the currency exchange rate.

Al-Khalidi said in a press statement, “We were astonished by the decision of the Council of Ministers in its session held on (2/22/2021) to form a committee to study the consequences of changing the currency exchange rate and to propose the required solutions as far as the matter is related to investment projects where the committee is headed by a representative of the Ministry Planning and membership includes, in addition to the General Secretariat of the Council of Ministers, representatives of the ministries of finance, reconstruction, housing, works, public municipalities and electricity, as well as the National Investment Commission, the Central Bank of Iraq and the Federation of Iraqi Contractors.

He indicated that “it was the first to pay this great attention to studying the damage that occurred to citizens as a result of raising the exchange rate of the dollar, especially since the Ministry of Planning had announced some time ago that the poverty rate in Iraq had exceeded 31.5%, in addition to the large increase in prices that exceeded a third.” The value of all commodities and services exacerbated the poor living conditions of many middle and vulnerable families, and the poor citizen was the most affected.

He added, “The government’s tendency to form a committee to study the damage inflicted on contractors confirms the realism of our repeated demand to review the decision to raise the dollar’s unprepared exchange rate and return it to what it was in order to avoid all these damages, whether they are on the poor, low-income people and the general population.

With contractors only, and neglecting the situation of millions of Iraqis affected by that, adding an article to the draft budget bill includes compensation to contractors at a value of (500) billion dinars, but the strangest thing of all is that the government senses the damage inflicted on contractors and does not feel the damage that has befallen citizens.

Al-Khalidi is surprised that the cabinet has formed a committee to study the consequences of changing the currency exchange rate

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Tishwash:  The price of oil jumps to 66 dollars and is expected to rise to 75 dollars

Brent oil prices jumped by 1.58%, today, Tuesday, bringing the price of one barrel to 66 dollars and 27 cents, while the price of West Texas oil reached 61 dollars and 49 cents.

This increase, supported by the expected slow return to US crude production, comes after production was halted following the extremely cold wave that struck Texas last week.

And expectations indicated that oil fields in the southern United States need at least two weeks to be able to recover and produce two million barrels per day.

He suggested the head of global market strategy at Ax Stephen Annis, the continuing rise in oil prices.

In the context, experts on Wall Street indicated that the price of a barrel of crude oil may reach $ 70 in the second quarter of this year, and that it will rise to $ 75 in the third quarter.

Edward Moya, a marketing analyst at OANDA, explained that there is a great global demand for oil due to the improvement resulting from the Pfizer vaccine achieving good results in preventing the Corona virus, as the spread of the pandemic was the reasons for the market decline.

It is scheduled that OPEC + oil producers will meet on the fourth of next March to discuss restrictions on supplies after April, given the recovery in prices despite the expected limited increase in production due to the continuing uncertainty surrounding the Corona pandemic.  link