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Zig’s Place News Wednesday AM 6-2-21

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Butterfly   For the first time since February 2020, Iraq achieves a monthly surplus in its financial budget

Wednesday 02 June 2021 11:40……….The Iraq Future Foundation for Economic Studies announced that Iraq achieved a monthly surplus in March of 2.1 trillion dinars, the first time since February 2020.

The head of the Iraq Future Foundation for Economic Studies, Manar Al-Obaidi, said in a statement to the institution that “the revenues of the Iraqi state for the month of March, according to the data of the Ministry of Finance, amounted to 7.2 trillion dinars, and oil revenues amounted to 6.1 trillion dinars, while total expenses amounted to 5.166 trillion dinars, and thus the amount achieved by the Iraqi state in the quarter The first of the year was 17.3 trillion dinars, and oil revenues amounted to 15.2 trillion dinars.

He added: While total expenditures amounted to 17.4 trillion dinars, and thus the total deficit for the first quarter of the year amounted to 131 billion dinars.

butterfly   The dollar continues to rise in the Iraqi stock market

Wednesday 02 June 2021 10:24……..The dollar exchange rates continue to rise today, Wednesday, in the main stock exchange and local markets in the capital, Baghdad.

The dollar exchange rate rose on the Central Kifah Stock Exchange in Baghdad today, recording 149,500 dinars, for each $100 bill.

And the prices of buying and selling dollars in banking offices and local markets in the capital Baghdad were relatively stable, as the selling price reached 150,000 thousand dinars, for each paper denomination of 100 dollars, while the purchase prices amounted to 149,000 thousand dinars, for each paper denominations of 100 dollars.

butterfly   Oil prices continue to rise globally

Wednesday 02 June 2021 10:23………..Oil prices rose today, Wednesday, after OPEC and its allies adhered to their plan to cautiously restore oil supplies in June and July, while they expected a strong recovery in fuel demand during the summer in the United States.

West Texas Intermediate crude futures rose 21 cents, or 0.31%, to $67.93, extending its 2.1% gain after the US Memorial Day holiday on Monday. Prices rose to their highest levels since October 2018.

Brent crude futures rose 25 cents, or 0.36 percent, to $70.50 a barrel, after jumping 1.3 percent overnight when they reached their highest levels since March 8.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, called the OPEC+ community, agreed on Tuesday to stick to their plan to gradually ease supply restrictions until July.

OPEC Secretary-General Mohammad Barkindo downplayed any potential market disruption, saying the group expects any return of Iranian exports to “take place in an orderly and transparent manner” if and when a nuclear deal is reached.

butterfly   Al-Rafidain: Loans of 50 million dinars for construction include employees and citizens, with a grace period of 3 months

Wednesday 02 June 2021 10:21 ………….Al-Rafidain Bank confirmed that construction loans for employees and citizens amounting to 50 million dinars will be repaid in 10 years.

The bank’s media office said in a statement that “the bank granted a grace period of 3 months, starting from the date of using the loan.”

He pointed out that “the interest on the loan is 5 percent, and there is priority and preference for MasterCard holders in obtaining the loan.”

butterfly  An unprecedented decline in the value of the Turkish lira against the dollar

Wednesday 02 June 2021 09:39 ………….The Turkish lira recorded an unprecedented decline against the dollar after Turkish President Erdogan announced last night to reduce the interest rate by depositing the Turkish lira in local banks.

Where the lira fell from 855 per hundred US dollars to 883 per hundred dollars, and there are fears that the Turkish lira will exceed its decline below that number.

butterfly   Al-Maliki stresses the importance of holding the elections on time

Wednesday 02 June 2021 15:14………..The head of the State of Law coalition, Nuri al-Maliki, stressed the importance of holding the elections on the specified date. In turn, the Russian ambassador affirmed his country’s interest in strengthening relations between the two countries, its readiness to cooperate in all fields, and his country’s keenness to cooperate in various issues of common interest.

butterfly   Al-Kaabi: The money recovery law will give the supervisory and executive authorities broader powers

Wednesday 02 June 2021 16:01……..The First Deputy Speaker of the House of Representatives, Hassan Al-Kaabi, stressed the importance of expediting the legislation of the (corruption revenue recovery) law and the legislation of all laws that would strengthen the work mechanisms of the supervisory and executive authorities and give them broader powers and legal force in holding corrupters accountable, regardless of who is behind them.

Al-Kaabi indicated, during a joint meeting with the heads and members of the parliamentary committees (integrity, financial, legal) at Al-Salam Palace, under the auspices of the President of the Republic, Barham Salih, to discuss a draft law (recovering corruption proceeds), to the powers to act in pursuit of looted funds inside and outside Iraq, most of which came as a result The failed and failed policies of previous governments, which exposed public money to waste, looting and loss, and helped many corrupt people get rich quickly at the expense of the deprived Iraqi people.

Al-Kaabi called on all parliamentary committees and members of the House of Representatives to exercise their oversight and legislative role entrusted to them, which are moral tasks before they are legal, as they are representatives of the people, especially during this period when some are trying to stir up public opinion by marketing rumors that MPs are busy with electoral propaganda and not Interested in their parliamentary duties, stressing the necessity of continuing and increasing the activity of the legislative authority and its efforts during the coming period and the completion of the legislation of all important laws that affect the life of the citizen and the preservation of public money, and other legislative and oversight tasks.”

Butterfly   / NINA/ publishes the text of the draft law on “recovering corruption proceeds”

Wednesday 02 June 2021 16:09……..National Agency publishes Iraqi News / Nina / text of the draft law ” to recover the proceeds of corruption” submitted by the President of the Republic , Barham Salih , to the House of Representatives.

The procedures of this law are subject to all Iraqi state officials who have held high positions most vulnerable to corruption, since 2004 until now, from the rank of general manager or above, and the competent financial authorities are preparing a documented list of the occupants of these positions during the past 17 years.

The law aims to recover the following funds inside and outside Iraq: criminal funds and proceeds of any corruption crime, property equivalent to its value, revenues and benefits derived from the proceeds of a corruption crime and property transferred to, exchanged, or mixed with it.

The Integrity Commission shall provide the Central Bank of Iraq with a list of high office holders, their family members and people closely related to them within three months from the date this law comes into force, and update it annually, and the Central Bank of Iraq circulates it to financial institutions for audits.

The investigation and investigation of corruption funds also includes family members, friends and associates of officials who have any kind of political or commercial relationship, as well as those with influence who are the people who have an influence in decision-making within the state’s facilities and agencies.

butterfly   The holders of senior positions must submit a written declaration within 60 days authorizing the Integrity Commission and the Iraqi courts to request information from the countries in which they have bank accounts. This is considered an acknowledgment by them to lift the secrecy of their balances to the official Iraqi authorities and the countries in which the bank accounts are located. Otherwise, after 60 days, he is considered resigning from his job.

The Integrity Commission, based on the availability of evidence and in coordination with the Intelligence Service and the Financial Supervision Bureau, may investigate financial transactions, transfers and property inside and outside Iraq of those covered by this law, to investigate their sources and the nature of their influence in decision-making within the state authorities and agencies, and to prosecute any corruption crimes that appear as a result of investigations.

butterfly   Teams 🔷cecchel investigation and fact – finding between the State Department and the intelligence service and the Integrity Commission and the Central Bank of Iraq and the Office of Financial Supervision, in cooperation with States, to investigate the money smuggled abroad and corrupt, and the collection of information and documents about the money of Iraqis in these countries who have held senior positions in Iraq “.

🔷 The Ministry of Foreign Affairs, through the relevant ministries and bodies, shall develop a plan for concluding bilateral agreements with countries to recover Iraqi money smuggled abroad and its revenues and the corrupt and hand them over to the Iraqi authorities.

🔷 Contracting with solid international investigation companies in order to investigate Iraq’s money smuggled abroad and its returns.

The financial institutions, the Central Bank of Iraq, are notified of lists prepared of financial transactions, the value of which exceeds 500 thousand US dollars, for investigations.

butterfly  The Iraqi financial institutions, under the supervision of the Central Bank, are obliged to verify customers to determine the identity of the owners of funds deposited in accounts valued at more than one million dollars.

Cancellation or termination of any investment contract or license concluded based on bribery, abuse of influence, or any act of corruption.

To encourage reporting of corruption, a financial reward of up to 5% of the value of the corruption offense is granted to the informant who provides information on a crime that leads to the recovery of corruption funds.

Punishments for those convicted of corruption offenses include confiscation and expropriation of all their movable and immovable property, and legal documents and instruments.

butterfly   The death of the accused of corruption or the expiry of the period of the lawsuit, does not preclude his responsibility for the crime and may not be pardoned, and his property and money are subject to penalties for corruption charges.

butterfly   2021-06-02 05:22   Shafaq News/ The sales of the Central Bank of Iraq (CBI) of hard currency hovered at nearly the same levels as the past few days.

Shafaq News Agency correspondent reported that CBI sales at the Foreign Exchange Auctions today, Wednesday, settled at $196,716,789, compared to $186,376,000 yesterday. The weighted average rate of the dinar to the U.S. dollar amounted to 1460.

Our correspondent explained that 13 banks and 11 exchange companies cashed $18.7 million, while $178,016,789 went to boost funds abroad in the form of transfers and credits, with 34 banks meeting those requests.

butterfly   2021-06-02 03:14   Shafaq News/ Basra light and heavy crude prices increased today, Wednesday.

Basra light crude exports to Asia reached 70.18 dollars, in time the heavy crude witnessed an increase to 66.71 dollars.

The Saudi light crude reached 69.54 dollars per barrel, while the Emirati Merban amounted to 69.67 dollars, and the Algerian Saharan for 68.81 dollars, and the Nigerian Bonny light oil amounted to 69.37 dollars.

Global oil prices increased today, as Brent crude oil amounted to 70.50 dollars and West Texas Brent crude reached 67.92 dollars.

butterfly   2021-06-02 02:19 Shafaq News/ The Dinar/Dollar exchange rates rose in Baghdad and Erbil today, Wednesday.

Shafaq News Agency correspondent said that Al-Kifah and al-Harithiya Central Exchanges are trading the 100 US dollar at 149500 Iraqi Dinars.

Our correspondent added that today’s selling and buying prices in the local markets rose to 150000 and 149000 dinars per 100 dollars.

In the capital of the Kurdistan Region, Erbil, the US buying and selling prices rose to 149700 and 149500, respectively.

butterfly   Federal Court: Amending the Provincial Council Elections Law, which ended the continuity of its work, is in accordance with the constitution

Wednesday 02 June 2021 16:49………The Federal Court announced that the Law of the Second Amendment to the Provincial and District Council Elections Law No. 12 of 2018, which ended the continuity of the work of the provincial councils, is in agreement with the constitution, stressing: “The work of the provincial councils after the end of their electoral cycle is contrary to the provisions of the constitution and the will of the people.”

Today, Wednesday, the Federal Court issued its decision, which included: “The existence of provincial councils is a constitutional fact that cannot be bypassed, and therefore the legislative authority may not legislate a law that includes the abolition of those councils, as it contradicts the provisions of the constitution and the principles of democracy and the peaceful transfer of power, but the continuation of the work of the elected councils is the same, If national councils or local bodies, after the end of their electoral cycle, constitute a violation of the people’s right to vote, elect and be nominated, and transgress the will of the voter.”

The court explained that “the period specified for the work of the provincial councils is obligatory to adhere to and cannot be exceeded, as this is the right of the people and is exercised by them in periodic direct elections.”

She explained, “What was stated in the third paragraph of Article 1 of Law No. 27 of 2019 the second amendment to the Provincial and District Council Elections Law No. 12 of 2018 does not mean canceling the existence of the provincial councils as a local constitutional body, but rather stopping the continuation of the work of those councils for exceeding the specified period for them, This represents a return to the will of the people to renew her election.”

butterfly   She continued, “The provincial councils are administrative and local bodies that are entrusted with the implementation of financial and administrative powers only within the principle of administrative decentralization, and the constitution did not authorize them to exercise legislative powers,” noting that “Law No. 27 of 2019 the Second Amendment Law to the Provincial and District Council Elections Law No. 12 of 2018 The rate that ended the continuity of the work of the provincial councils is in accordance with the constitution, and on the basis of that the court decided to dismiss the case.”

butterfly   The World Bank confirms its commitment to support the path of economic reform in Iraq

Wednesday 02 June 2021 17:06……….The World Bank affirmed its commitment to support the path of economic reform that Iraq has embarked on, and to provide assistance and advice in order to proceed with achieving this.

The President of the Republic, Barham Salih, indicated, during his meeting today, Wednesday, with the Vice President of the World Bank Group for the Middle East and North Africa, Farid Belhaj, to the importance of strengthening cooperation between Iraq and the World Bank, and supporting financial reforms and economic structures related to raising their efficiency, as well as work and coordination for Combating corruption and limiting its effects, supporting investment and the private sector, and benefiting from human wealth, especially young people, in the process of building a healthy and sustainable economy.

Saleh added, “The government is working on economic reform plans, addressing the structural imbalances of the national economy, combating corruption and recovering its returns through international coordination, providing citizens’ requirements, securing good living conditions, and facing challenges related to the economy, climate change and environmental protection as a priority in sustainable development, in coordination and benefit from international experience in this regard.

For his part, Farid Belhaj expressed his pride in the World Bank’s partnership with Iraq and its importance, stressing the World Bank’s commitment to support the path of economic reform that Iraq has embarked on, and to provide assistance and advice in order to proceed with achieving this.

butterfly   Australia confirms its continued support for Iraq and stands with it in its war against terrorism

Wednesday 02 June 2021 17:27……..Australia renewed its continued support for Iraq in all fields and to stand by it in its war against terrorism.

And the Ministry of Foreign Affairs said in a statement that the National Iraqi News Agency / NINA / received a copy of it: “Foreign Minister Fouad Hussein received a phone call from Australian Foreign Minister Maris Payne, during which they discussed strengthening bilateral relations, and upgrading them to what meets the aspirations of the two friendly peoples.”

According to the statement, the Minister of Foreign Affairs expressed his thanks to the Australian government for its supportive stances for Iraq in its war against ISIS terrorist gangs, calling for the continuation of this support until the eradication of the ideology that produced these terrorist groups.

The two ministers also discussed a number of regional and international issues of common concern, emphasizing the need to work to reduce tension and achieve calm in the region, and to avoid escalation that does not serve any party.

The Australian Minister of Foreign Affairs stressed: “Australia supports Iraq in all fields, including the security field, and the reconstruction of liberated areas, and that its government has stood by the Iraqi government in its war against the terrorist organization ISIS.”

The Minister of Foreign Affairs invited the Australian Minister to visit Iraq.

butterfly   Deputy Speaker of Parliament: The presence of the United Nations mission and representatives of the European Union is very important during the elections

Wed 02, Jun 2021 17:32………The First Deputy Speaker of the House of Representatives, Hassan Al-Kaabi, stressed the importance of the presence of the United Nations mission, the International Federation team and all international organizations in Iraq and their participation in monitoring the elections, because of their importance in motivating citizens to participate, the transparency of voting and enhancing the confidence of voters in the electoral process and the achieved results. .

Al-Kaabi indicated, during his meeting with German Ambassador Ole Diehl and political advisor at the embassy Beata Hobe, that “all previous elections were held under exceptional circumstances and circumstances, but despite that they were “accomplished” and there is no reason to postpone them, whatever the arguments some try to market in various ways. roads”.

He added, “Previous experiences, although painful or unsuccessful in achieving the desired goals, but they have yielded experiences,” noting that “the mechanisms for forming the next government will be different from the past eighteen years. There is a government responsible for implementing its programs, so we must move forward in building and maintaining a strong state.”

For his part, the German ambassador affirmed his country’s support for strengthening bilateral relations at various levels with Iraq, as well as the seven countries’ support for the Iraqi economic sector for its importance in achieving stability for this country, expressing the willingness of German investment companies and their desire to work inside Iraq.

butterfly   The dollar touches 1500 dinars.. the list of exchange rates in Iraq

2021-06-02   The dollar touches 1500 dinars.. the list of exchange rates in IraqThe exchange rates of the dollar, international foreign currencies and precious metals in the Iraqi markets.

The price of the dollar against the Iraqi dinar

Exchange rates:   Dollar selling price  149,750   Dollar purchase price  149,000   approximate

Butterfly   The price of the dollar against the Iranian toman

Baghdad   $100  2,220,000 tomans   approximate

butterfly   foreign currencies   100 euros  121.91 dollars

100 pounds  $141.36   100 dollars  862.22 Turkish liras

butterfly   metal  The price of an ounce of gold globally  $ 1899.36   burathanews.com

butterfly   Finance prepares the general budget strategy for the next three years

Wednesday 2 June 2021 | 05:58 PM   Finance prepares the general budget strategy for the next three yearsOn Wednesday, Minister of Finance Ali Abdul-Amir Allawi chaired the ninth session meeting of the committee for preparing the federal general budget strategy for the medium term 2022-2024. A statement by the ministry, received by “Eye of Iraq News” today, stated that “the meeting was held in the presence of both the Prime Minister’s advisers and an undersecretary.

The Ministry of Planning, the ministry’s advisers and the general directors of the ministry and related ministries, where the committee discussed, according to the statement, “the report of the medium-term strategic plan for the years (2022-2024) on the external and internal debt and its scheduling.”

The Minister of Finance, Ali Allawi, said, according to the statement, that “the committee’s work and steps will contribute to In building a sound and stable financial situation for the country, which will enhance the approach to preparing budgets for the coming years within the financial resources available to address the reluctance that occurs in strategic projects.

Allawi stressed that “It will proceed to easily link long-term goals with future budgets to provide tools and procedures for preparation of financial departments and to prioritize activities to achieve the strategic objectives of the projects in proportion to the financial revenues of the country.”   aynaliraqnews.com

butterfly   For fear of protesters storming Parliament, Al-Halbousi prevents questioning the Minister of Finance

Wednesday 2 June 2021 | 02:36 PM   For fear of protesters storming Parliament Al-Halbousi prevents questioning the Minister of FinanceToday, Wednesday, a well-informed political source revealed that Parliament Speaker Muhammad al-Halbousi prevented the questioning of Finance Minister Ali Allawi, for fear that the minister would reveal dangerous files and documents.

The source said, “The Minister of Finance, Ali Allawi, requested that his questioning be conducted in the Iraqi parliament remotely and from outside Iraq, and that the session be public and broadcast on the air, because he intends to present dangerous documents and evidence that will make the demonstrators storm Parliament, because of the files and evidence of major corruption cases.”

And he indicated that “this matter prompted Parliament Speaker Muhammad al-Halbousi to withdraw from the questioning of Allawi, despite the appointment of the interrogation session, and al-Halbousi is currently working to push the fireball against him and in secret he is pushing deputies from Shiite political blocs to confront the Minister of Finance.”   aynaliraqnews.com

butterfly   Saleh to the World Bank delegation: Iraq is moving forward towards reforming the national economy and fighting corruption

06/02/2021 16:51:36   Saleh to the World Bank delegation – Iraq is moving forward towards reforming the national economy and fighting corruptionThe President of the Republic, Barham Salih, confirmed, on Wednesday, to a delegation from the World Bank that Iraq is moving forward towards reforming the national economy and combating corruption.

His office said in a statement that {Euphrates News} received a copy of it, that “the President of the Republic received, at the Peace Palace in Baghdad, the Vice President of the World Bank Group for the Middle East and North Africa, Farid Belhadj and his accompanying delegation, and during the meeting, the importance of strengthening cooperation was emphasized. between Iraq and the World Bank, and support for financial reforms and economic structures related to raising their efficiency, in addition to work and coordination to combat corruption and reduce its effects, and support investment and the private sector and benefit from human capital, especially young people, in the process of building a healthy and sustainable economy.

President Saleh pointed out that “the government is working on economic reform plans, addressing the structural imbalances of the national economy, combating corruption and recovering its returns through international coordination, providing citizens’ requirements, securing good living conditions, and facing challenges related to the economy, climate change, and environmental protection as a priority in sustainable development, in coordination.” and benefit from international experiences in this regard.

butterfly   For his part, Farid Belhaj expressed his pride in the World Bank’s partnership with Iraq and its importance, stressing “the commitment of the World Bank to support the path of economic reform that Iraq has embarked on, and to provide assistance and advice in order to move forward in achieving this.”   alforatnews.com

butterfly   In numbers.. Iraq achieves a monthly surplus for the first time since February 2020

02/06/2021 11:29:37   In numbers.. Iraq achieves a monthly surplus for the first time since February 2020In numbers.. Iraq achieves a monthly surplus for the first time since February 2020

Iraq achieved a monthly surplus in March of 2.1 trillion dinars, the first time since February 2020 that this surplus was achieved.

The Iraq Future Foundation for Economic Studies (a non-governmental organization) said, “The Iraqi state’s revenues for the month of March, according to the data of the Ministry of Finance, amounted to 7.2 trillion dinars, of which oil revenues amounted to 6.1 trillion Iraqi dinars, while total expenditures amounted to 5.166 trillion dinars.”

It indicated that “the amount of what the Iraqi state achieved in the first quarter of the year was 17.3 trillion dinars, of which oil revenues amounted to 15.2 trillion dinars, while total expenditures amounted to 17.4 trillion dinars, and thus the total deficit for the first quarter of the year amounted to 131 billion dinars.”  alforatnews.com

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