Bond Lady's Corner
Iraqi News Thursday 9-24-20
TLM724 Administrator
A Man And Woman Caught Trading Counterfeit Currency
Thursday 24 September 2020 86 Baghdad: Morning A man and a woman have fallen into the hands of the Federal Intelligence and Investigations Agency, trading in fake currency in the provinces of Najaf and Nineveh.
A statement by the intelligence agency clarified that one of them was arrested in the Al-Quds neighborhood in the province of Al-Najaf in the act of red-handed and in possession of $ 890 fake while selling counterfeit $ 100 for 35,000 Iraqi dinars.
And the agency added, "A defendant was arrested for buying food in exchange for counterfeit currency in the markets of the city of Mosul, and she was seized in possession of 275 thousand Iraqi dinars, denominations of 25 and 10 thousand forged." LINK
{Central} And {International Monetary} Discuss Fiscal And Monetary Policy
Thursday 24 September 2020 41 Baghdad: Morning The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, discussed with the International Monetary Fund bilateral cooperation in the areas of fiscal and monetary policy.
A bank statement said, "Al-Sabah" received a copy of it that "the two sides discussed during the meeting, which was held in a visual communication manner, issues related to the economic situation in Iraq and the fund's willingness and desire to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans."
The Fund's team also offered the congratulations of the Fund’s Executive Director, Hazem Al-Beblawy, to the Governor of the Central Bank on the occasion of his assumption of the position. LINK
Oversight And Development
Thursday 24 September 2020 28 Dr.. Basem Brahimi Recently, a number of accusations have returned to the new central bank building project designed by the late architect Zaha Hadid, especially its estimated cost of eight hundred million dollars, and this is not the first time that the project has been subjected to these accusations, noting that the project continues to work and the features of its structure have been clarified.
After the building reached the eighth floor out of the thirty-seven floors, it is the total height of the building, including four underground floors for (highly mechanized) safes, and the building is fully insured against earthquakes, explosions and fires and it is the first environmentally friendly building, and the question here is how can a government project be implemented with this Size, and after years of approval to implement it to be challenged now? And what if all the accusations against him are misplaced?
The information provided by the Central Bank indicates that Zaha Hadid Company nominated (18) companies capable of implementing the building, most of which apologized due to the security situation in Iraq and the high costs of insurance, for the intervention of four competition companies after studying their files from a tripartite team (Zaha’s office, an Australian consulting company, the bank The Central Bank) Dax company was chosen to implement one of Zaha Hadid’s projects, the Heydar Aliyev Center in Baku,
noting that the specific cost of the project is close to the cost of similar buildings such as the European Central Bank building (one billion seven hundred million dollars) with an area that is twice the size of the Central Bank of Iraq, as well as a building The Central Bank of Kuwait amounting to (five hundred and eighty million dollars) with a total area less than the Central Bank of Iraq (20 percent).
The accusations have left the Iraqi citizen in confusion, and he no longer trusts any project even if he sees it being implemented. If the cost of the central bank building project is still in shape after years of approvals and implementation, that is a misfortune, and on the other hand, if the charges brought do not have evidence of a conviction.
Those responsible for the project, the calamity is greater, and this puts an obstacle to urban development at the very least in an economy looking for a glimmer of hope, so why not if that hope is signed by some iron. Finally, I say we need supervision in all its forms, but I call on all the supervisory authorities to implement their duties while taking Given the impact of the media on economic development, demolition is easy, but construction is difficult, and in the conditions in which we live, it is very difficult.
https://alsabaah.iq/31459/%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9
The Text Of The Parliament's Resolution To Oblige The Government To Establish A National Joint Stock Company For Telecommunications
Time: 09/24/2020 15:09:17 Read: 1,261 times {Baghdad: Al Furat News} The agency {Al Furat News} publishes the text of the parliament's decision to oblige the government to establish a national joint stock company for communications.
The text of the decision came as follows:
To open competition and maximize financial revenues for the annual federal budget, the House of Representatives decided:
First: Obliging the government to establish a national joint stock company for telecommunications and grant it a license for mobile cellular telecommunications services.
Second: Obliging the Ministry of Communications, the Media and Communications Commission and the relevant authorities to provide all the financial, technical, legal and administrative requirements for their establishment. LINK
Finance Announces Withholding 18% Of Employees' Salaries
Time: 09/24/2020 14:16:24 Read: 7,059 times (Baghdad: Al Furat News) The Ministry of Finance in the Kurdistan region announced, today, Thursday, that the distribution of employees' salaries for the month of April will be deducted from 18% of them.
The ministry said in a statement, "It addressed the institutions and departments in the Kurdistan region to prepare the pay lists for their employees for the month of April."
And she added, "The deduction in the salaries of employees will be 18%," pointing out that "the deduction rate for the salaries of higher degrees will remain the same, like last month." LINK
A New US Exemption For Iraq To Import Energy From Iran
Time: 09/24/2020 10:58:06 Read: 2,392 times {International: Al-Furat News} An Iraqi official told AFP that the United States has extended for an additional two months the exemption granted to Iraq from sanctions imposed on Iran in the energy field, which will allow Baghdad to continue importing gas and electricity from Iran.
Although Iraq is an oil country, it relies heavily on Iran in the field of energy, as it imports a third of its consumption needs of gas and electricity due to its aging infrastructure that makes it unable to achieve energy self-sufficiency to secure the needs of its 40 million people.
Since the United States re-imposed sanctions on Iran at the end of 2018, the US administration has been granting Iraq one exemption after another, pending finding other suppliers.
And when the government of Prime Minister Mustafa al-Kazemi came to power in May, the United States, which is locked in a conflict of influence with Iran, granted Baghdad an extension of the exemption for a period of four months at once.
The move was considered at the time as strong American support for a government seen as more pro-American than its predecessor.
Al-Kazemi, who visited Washington last August, signed memoranda of understanding with a number of US energy companies, but his government is facing the worst economic crisis in modern Iraq’s history and is trying hard to secure employee salaries.
Iraq has been severely affected by the drop in oil prices, and the damage has exacerbated the Covid-19 epidemic, which has reached more than 330,000 injured, of whom more than 8,700 died, according to official figures from the Ministry of Health. LINK
The Government Withdraws The Draft Budget After Parliamentary Objections
Reports Economy News – Baghdad The Finance Committee in the House of Representatives said that the reasons that prompted the government to withdraw the draft federal budget bill for the year 2020 from Parliament are due to the presence of legal and accounting problems and breaches in the original draft of the draft, stressing that failure to address these problems will push political parties to challenge the law .
On Tuesday, the General Secretariat of the Council of Ministers announced the withdrawal of the draft federal budget law for the year 2020 from the House of Representatives, one day after it was handed over and returned to the government to make some amendments to it. And the current government headed by Mustafa Al-Kazemi faced difficulties in preparing the draft budget at a time when the country suffers from a stifling financial crisis caused by the collapse of oil prices in world markets .
Iraq relies about 95% on oil revenues to finance the country's annual budget .
Jamal Cougar, a member of the Finance Committee in the House of Representatives, said that "the reasons for the government to withdraw the draft federal budget bill by the government are due to the presence of legal and accounting problems in the original draft of the draft," believing that "the government will make amendments to the law to send it to the House of Representatives again." . On Monday, the representative of the government in Parliament, Torhan Al-Mufti, announced the arrival of the draft federal budget bill for the year 2020 to the House of Representatives, after its approval in the Council of Ministers on September 14 .
And Representative Cougar talks about these mathematical and legal problems, saying that "the budget turned after the month of August into a budget after the government disbursed 1/12 to pay salaries and other expenses, and therefore it is no longer useful to have a general budget while we are in the last months of the year ."
He adds that "the current budget deficit reaches about 60% and this is contrary to the Financial Management Law, which stipulates that the deficit does not exceed 3% of the size of the budget," pointing out that "these legal and accounting breaches may lead some to challenge the Federal Budget Law after it was legislated in the Council. Representatives . "
The total budget expenditures for the current year are estimated at (148) trillion dinars, with an estimated deficit of 81 trillion dinars, while revenues amounted to about (67) trillion dinars .
According to the draft federal budget law for 2020 sent by the Ministry of Finance to the General Secretariat of the Council of Ministers, the budget revenues are estimated at (67) trillion dinars, by calculating the price of a barrel of oil at (41) dollars, at an export rate of (three million, thirty thousand two hundred and seventy-three) Barrels) per day, including (two hundred and fifty thousand barrels) for the quantities of oil produced in the Kurdistan region .
Cougar added, "The Council of Ministers sent the budget law prepared by the previous government to cover loans, but it faced objections and a media and economic uproar," calling on the government to send the budget law next year 2021, and proceed with paying salaries for the coming months on 1/12 through borrowing .
The government did not approve the fiscal budget law for the current year at the beginning of this year, as a result of the protests crisis that swept the country since October 2019 and toppled the previous government headed by Adel Abdul Mahdi .
The government of Mustafa Al-Kazemi faced difficulties in preparing the draft budget at a time when the country was suffering from a severe financial crisis caused by the collapse of oil prices in world markets. Iraq relies about 95% on oil revenues to finance the country's annual budget .
In turn, MP Muhammad Shiaa al-Sudani, a member of the Committee to Monitor the Implementation of the Governmental Program and Strategic Planning, explained the reason for the government's withdrawal of the 2020 Budget Bill from Parliament. He said that the meeting of the three presidencies and political forces concluded that the percentage of deficit in the 2020 budget is huge without the government providing any economic reforms .
Al-Sudani mentioned in a post on his Facebook page, saying that "the government withdrew the budget law for the year 2020 to make amendments to it," adding that "the government relied on borrowing from the balance of the central bank and this process is considered dangerous and affects the financial situation of the country ."
The Al-Kazemi government conducted a series of austerity measures that focused on reducing expenditures after the decline in revenues due to the drop in oil prices and the Corona pandemic, as it took extensive reforms in the management of financial revenues, most notably the border outlets, in an effort to end corruption and supplement the state treasury with money .
The Council of Ministers had previously decided to form an emergency cell for financial reform, to ensure the provision of financial liquidity and take decisions on financial reform by rationalizing spending, maximizing resources, reforming financial institutions, and developing financing plans for reconstruction, development and investment projects, including financing resources and mechanisms from outside Government spending .
For his part, Hassan Al-Juhaishi, a deputy from the Saeron Alliance, confirms that "there are parliamentary objections directed at the federal budget law that included large loans, which prompted the Council of Ministers to withdraw the law from the House of Representatives to make some amendments to it." Al-Juhaishi believes that "preparing the federal budget law must be in cooperation between all parties to facilitate the process of passing it in the House of Representatives without procrastination and procrastination by political parties ."
At the beginning of last June, the House of Representatives voted on a draft resolution obliging Mustafa Al-Kazemi's government to submit the federal budget for the year 2020 before the end of last June .
Number of observations 132 Date of addendum 09/24/2020 https://economy-news.net/content.php?id=21977
Oil Minister: An Agreement Is Expected To Increase Oil Exports
Energy Economy News – Baghdad Oil Minister Ihsan Abdul-Jabbar revealed an expected agreement with OPEC and OPEC + group to increase Iraqi oil exports, noting that the reduction agreement between OPEC countries will continue until the end of 2021.
Abdul-Jabbar said in a statement reported by the official Al-Sabah newspaper and seen by Al-Iqtisad News, that "the high prices of crude oil and the repercussions of the Corona pandemic on the world will cast a shadow over the future of future decisions by members of the organization," indicating that "negotiations are continuing, and there is openness." With everyone, the decisions that contribute to the recovery of global oil prices will mature. "
Concerning the joint fields with Iran and Kuwait, Abdul-Jabbar stressed, "The existence of a consulting company that works on developing plans and factors for joint operation of fields between Iraq and Kuwait. As for the fields shared with Iran, there are dialogues with the Iranian side to agree on final and stable formulas for operating these fields, and the ministry is working on Developing the capabilities of its companies in Basra and Maysan with the aim of expediting the process of investing in joint fields. "
He explained that "his ministry is working to complete these projects until 2025, and we will raise gas production to large quantities from 2500 to 3000 million cubic feet of gas."
He pointed out that "all gas projects are either currently under implementation or under assignment or in preparation for the project.
Number of observations 117 Date added 09/24/2020 https://economy-news.net/content.php?id=21972
Parliamentary Finance: Al-Kazemi Affirmed His Keenness On The Reputation Of Investing In Iraq
MP Haitham Al-Jubouri Money and business Economy News – Baghdad The head of the Parliamentary Finance Committee, Haitham Al-Jubouri, confirmed, on Thursday, that Prime Minister Mustafa Al-Kazemi affirmed his keenness on the reputation of investment and investors and his monitoring to prevent any case of extortion.
Al-Jubouri said in a statement seen by "Al-Eqtisad News", that "based on the principle of responsibility and the difficult financial and economic conditions that the country is going through and coinciding with the government's efforts to combat corruption that were accompanied by some media news shaded by some media outlets and social media sites, and for some people to try to exploit these Procedures We met with Prime Minister Mustafa Al-Kazemi to discuss the concerns of some businessmen and investors about the possibility that these measures would affect the movement of investment and development in the country.
He added, "Al-Kazemi assured us of his keenness on the reputation of investment and investors and his personal control to prevent any abuse or blackmail."
He pointed out that "we agreed that the judiciary would be the decisive factor, based on the evidence and evidence presented by the formed committee."
Number of observations 131 Date added 09/24/2020 https://economy-news.net/content.php?id=21976
A Slight Increase In The Exchange Rate Of The Dollar In The Local Market
Thursday 24, September 2020 11:26 | EconomicalViews: 133 Baghdad / NINA / The exchange rates of the dollar registered a slight increase in the local market in Baghdad and some governorates.
The selling price on the Al-Kifah Stock Exchange recorded 122,900 dinars per 100 dollars, and the purchase price was 122 thousand and 500 dinars per hundred dollars. On Wednesday, prices were 123,000 dinars, compared to $ 100.
The selling prices in the exchange shops in the local markets in Baghdad were recorded : 123,500 dinars per 100 dollars sold, and the purchase price: 122,500 dinars per 100 dollars.
https://ninanews.com/Website/News/Details?key=858518
A Deputy Reveals A Tendency To Issue Treasury Bonds From The Central Bank To Continue Paying Salaries
The Baghdad Post Thursday, 24 September 2020 10:49 AM
A member of the Parliamentary Finance Committee, Representative Naji Al-Saeedi, revealed that the government plans to issue treasury bonds from the Central Bank to continue paying the salaries of state employees.
Al-Saeedi said that the government is still unable to pay salaries and other necessary operating expenses, so it has resorted to preparing a budget for four months, which is originally a new borrowing law.
”Al-Saidi added:“ The cost of state employees ’salaries for the month of September exceeded 3 trillion dinars, so the government will resort To the issuance of treasury bonds from the Central Bank to continue paying salaries, "indicating:" This will cause a collapse in the national economy by the end of next year 2021. " LINK
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Iraqi News Thursday 9-24-20
TLM724 Administrator
A Man And Woman Caught Trading Counterfeit Currency
Thursday 24 September 2020 86 Baghdad: Morning A man and a woman have fallen into the hands of the Federal Intelligence and Investigations Agency, trading in fake currency in the provinces of Najaf and Nineveh.
A statement by the intelligence agency clarified that one of them was arrested in the Al-Quds neighborhood in the province of Al-Najaf in the act of red-handed and in possession of $ 890 fake while selling counterfeit $ 100 for 35,000 Iraqi dinars.
And the agency added, "A defendant was arrested for buying food in exchange for counterfeit currency in the markets of the city of Mosul, and she was seized in possession of 275 thousand Iraqi dinars, denominations of 25 and 10 thousand forged." LINK
{Central} And {International Monetary} Discuss Fiscal And Monetary Policy
Thursday 24 September 2020 41 Baghdad: Morning The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, discussed with the International Monetary Fund bilateral cooperation in the areas of fiscal and monetary policy.
A bank statement said, "Al-Sabah" received a copy of it that "the two sides discussed during the meeting, which was held in a visual communication manner, issues related to the economic situation in Iraq and the fund's willingness and desire to help Iraq by providing support and technical advice and coordinating financial and monetary policies and financial control plans."
The Fund's team also offered the congratulations of the Fund’s Executive Director, Hazem Al-Beblawy, to the Governor of the Central Bank on the occasion of his assumption of the position. LINK
Oversight And Development
Thursday 24 September 2020 28 Dr.. Basem Brahimi Recently, a number of accusations have returned to the new central bank building project designed by the late architect Zaha Hadid, especially its estimated cost of eight hundred million dollars, and this is not the first time that the project has been subjected to these accusations, noting that the project continues to work and the features of its structure have been clarified.
After the building reached the eighth floor out of the thirty-seven floors, it is the total height of the building, including four underground floors for (highly mechanized) safes, and the building is fully insured against earthquakes, explosions and fires and it is the first environmentally friendly building, and the question here is how can a government project be implemented with this Size, and after years of approval to implement it to be challenged now? And what if all the accusations against him are misplaced?
The information provided by the Central Bank indicates that Zaha Hadid Company nominated (18) companies capable of implementing the building, most of which apologized due to the security situation in Iraq and the high costs of insurance, for the intervention of four competition companies after studying their files from a tripartite team (Zaha’s office, an Australian consulting company, the bank The Central Bank) Dax company was chosen to implement one of Zaha Hadid’s projects, the Heydar Aliyev Center in Baku,
noting that the specific cost of the project is close to the cost of similar buildings such as the European Central Bank building (one billion seven hundred million dollars) with an area that is twice the size of the Central Bank of Iraq, as well as a building The Central Bank of Kuwait amounting to (five hundred and eighty million dollars) with a total area less than the Central Bank of Iraq (20 percent).
The accusations have left the Iraqi citizen in confusion, and he no longer trusts any project even if he sees it being implemented. If the cost of the central bank building project is still in shape after years of approvals and implementation, that is a misfortune, and on the other hand, if the charges brought do not have evidence of a conviction.
Those responsible for the project, the calamity is greater, and this puts an obstacle to urban development at the very least in an economy looking for a glimmer of hope, so why not if that hope is signed by some iron. Finally, I say we need supervision in all its forms, but I call on all the supervisory authorities to implement their duties while taking Given the impact of the media on economic development, demolition is easy, but construction is difficult, and in the conditions in which we live, it is very difficult.
https://alsabaah.iq/31459/%D8%A7%D9%84%D8%B1%D9%82%D8%A7%D8%A8%D8%A9-%D9%88%D8%A7%D9%84%D8%AA%D9%86%D9%85%D9%8A%D8%A9
The Text Of The Parliament's Resolution To Oblige The Government To Establish A National Joint Stock Company For Telecommunications
Time: 09/24/2020 15:09:17 Read: 1,261 times {Baghdad: Al Furat News} The agency {Al Furat News} publishes the text of the parliament's decision to oblige the government to establish a national joint stock company for communications.
The text of the decision came as follows:
To open competition and maximize financial revenues for the annual federal budget, the House of Representatives decided:
First: Obliging the government to establish a national joint stock company for telecommunications and grant it a license for mobile cellular telecommunications services.
Second: Obliging the Ministry of Communications, the Media and Communications Commission and the relevant authorities to provide all the financial, technical, legal and administrative requirements for their establishment. LINK
Finance Announces Withholding 18% Of Employees' Salaries
Time: 09/24/2020 14:16:24 Read: 7,059 times (Baghdad: Al Furat News) The Ministry of Finance in the Kurdistan region announced, today, Thursday, that the distribution of employees' salaries for the month of April will be deducted from 18% of them.
The ministry said in a statement, "It addressed the institutions and departments in the Kurdistan region to prepare the pay lists for their employees for the month of April."
And she added, "The deduction in the salaries of employees will be 18%," pointing out that "the deduction rate for the salaries of higher degrees will remain the same, like last month." LINK
A New US Exemption For Iraq To Import Energy From Iran
Time: 09/24/2020 10:58:06 Read: 2,392 times {International: Al-Furat News} An Iraqi official told AFP that the United States has extended for an additional two months the exemption granted to Iraq from sanctions imposed on Iran in the energy field, which will allow Baghdad to continue importing gas and electricity from Iran.
Although Iraq is an oil country, it relies heavily on Iran in the field of energy, as it imports a third of its consumption needs of gas and electricity due to its aging infrastructure that makes it unable to achieve energy self-sufficiency to secure the needs of its 40 million people.
Since the United States re-imposed sanctions on Iran at the end of 2018, the US administration has been granting Iraq one exemption after another, pending finding other suppliers.
And when the government of Prime Minister Mustafa al-Kazemi came to power in May, the United States, which is locked in a conflict of influence with Iran, granted Baghdad an extension of the exemption for a period of four months at once.
The move was considered at the time as strong American support for a government seen as more pro-American than its predecessor.
Al-Kazemi, who visited Washington last August, signed memoranda of understanding with a number of US energy companies, but his government is facing the worst economic crisis in modern Iraq’s history and is trying hard to secure employee salaries.
Iraq has been severely affected by the drop in oil prices, and the damage has exacerbated the Covid-19 epidemic, which has reached more than 330,000 injured, of whom more than 8,700 died, according to official figures from the Ministry of Health. LINK
The Government Withdraws The Draft Budget After Parliamentary Objections
Reports Economy News – Baghdad The Finance Committee in the House of Representatives said that the reasons that prompted the government to withdraw the draft federal budget bill for the year 2020 from Parliament are due to the presence of legal and accounting problems and breaches in the original draft of the draft, stressing that failure to address these problems will push political parties to challenge the law .
On Tuesday, the General Secretariat of the Council of Ministers announced the withdrawal of the draft federal budget law for the year 2020 from the House of Representatives, one day after it was handed over and returned to the government to make some amendments to it. And the current government headed by Mustafa Al-Kazemi faced difficulties in preparing the draft budget at a time when the country suffers from a stifling financial crisis caused by the collapse of oil prices in world markets .
Iraq relies about 95% on oil revenues to finance the country's annual budget .
Jamal Cougar, a member of the Finance Committee in the House of Representatives, said that "the reasons for the government to withdraw the draft federal budget bill by the government are due to the presence of legal and accounting problems in the original draft of the draft," believing that "the government will make amendments to the law to send it to the House of Representatives again." . On Monday, the representative of the government in Parliament, Torhan Al-Mufti, announced the arrival of the draft federal budget bill for the year 2020 to the House of Representatives, after its approval in the Council of Ministers on September 14 .
And Representative Cougar talks about these mathematical and legal problems, saying that "the budget turned after the month of August into a budget after the government disbursed 1/12 to pay salaries and other expenses, and therefore it is no longer useful to have a general budget while we are in the last months of the year ."
He adds that "the current budget deficit reaches about 60% and this is contrary to the Financial Management Law, which stipulates that the deficit does not exceed 3% of the size of the budget," pointing out that "these legal and accounting breaches may lead some to challenge the Federal Budget Law after it was legislated in the Council. Representatives . "
The total budget expenditures for the current year are estimated at (148) trillion dinars, with an estimated deficit of 81 trillion dinars, while revenues amounted to about (67) trillion dinars .
According to the draft federal budget law for 2020 sent by the Ministry of Finance to the General Secretariat of the Council of Ministers, the budget revenues are estimated at (67) trillion dinars, by calculating the price of a barrel of oil at (41) dollars, at an export rate of (three million, thirty thousand two hundred and seventy-three) Barrels) per day, including (two hundred and fifty thousand barrels) for the quantities of oil produced in the Kurdistan region .
Cougar added, "The Council of Ministers sent the budget law prepared by the previous government to cover loans, but it faced objections and a media and economic uproar," calling on the government to send the budget law next year 2021, and proceed with paying salaries for the coming months on 1/12 through borrowing .
The government did not approve the fiscal budget law for the current year at the beginning of this year, as a result of the protests crisis that swept the country since October 2019 and toppled the previous government headed by Adel Abdul Mahdi .
The government of Mustafa Al-Kazemi faced difficulties in preparing the draft budget at a time when the country was suffering from a severe financial crisis caused by the collapse of oil prices in world markets. Iraq relies about 95% on oil revenues to finance the country's annual budget .
In turn, MP Muhammad Shiaa al-Sudani, a member of the Committee to Monitor the Implementation of the Governmental Program and Strategic Planning, explained the reason for the government's withdrawal of the 2020 Budget Bill from Parliament. He said that the meeting of the three presidencies and political forces concluded that the percentage of deficit in the 2020 budget is huge without the government providing any economic reforms .
Al-Sudani mentioned in a post on his Facebook page, saying that "the government withdrew the budget law for the year 2020 to make amendments to it," adding that "the government relied on borrowing from the balance of the central bank and this process is considered dangerous and affects the financial situation of the country ."
The Al-Kazemi government conducted a series of austerity measures that focused on reducing expenditures after the decline in revenues due to the drop in oil prices and the Corona pandemic, as it took extensive reforms in the management of financial revenues, most notably the border outlets, in an effort to end corruption and supplement the state treasury with money .
The Council of Ministers had previously decided to form an emergency cell for financial reform, to ensure the provision of financial liquidity and take decisions on financial reform by rationalizing spending, maximizing resources, reforming financial institutions, and developing financing plans for reconstruction, development and investment projects, including financing resources and mechanisms from outside Government spending .
For his part, Hassan Al-Juhaishi, a deputy from the Saeron Alliance, confirms that "there are parliamentary objections directed at the federal budget law that included large loans, which prompted the Council of Ministers to withdraw the law from the House of Representatives to make some amendments to it." Al-Juhaishi believes that "preparing the federal budget law must be in cooperation between all parties to facilitate the process of passing it in the House of Representatives without procrastination and procrastination by political parties ."
At the beginning of last June, the House of Representatives voted on a draft resolution obliging Mustafa Al-Kazemi's government to submit the federal budget for the year 2020 before the end of last June .
Number of observations 132 Date of addendum 09/24/2020 https://economy-news.net/content.php?id=21977
Oil Minister: An Agreement Is Expected To Increase Oil Exports
Energy Economy News – Baghdad Oil Minister Ihsan Abdul-Jabbar revealed an expected agreement with OPEC and OPEC + group to increase Iraqi oil exports, noting that the reduction agreement between OPEC countries will continue until the end of 2021.
Abdul-Jabbar said in a statement reported by the official Al-Sabah newspaper and seen by Al-Iqtisad News, that "the high prices of crude oil and the repercussions of the Corona pandemic on the world will cast a shadow over the future of future decisions by members of the organization," indicating that "negotiations are continuing, and there is openness." With everyone, the decisions that contribute to the recovery of global oil prices will mature. "
Concerning the joint fields with Iran and Kuwait, Abdul-Jabbar stressed, "The existence of a consulting company that works on developing plans and factors for joint operation of fields between Iraq and Kuwait. As for the fields shared with Iran, there are dialogues with the Iranian side to agree on final and stable formulas for operating these fields, and the ministry is working on Developing the capabilities of its companies in Basra and Maysan with the aim of expediting the process of investing in joint fields. "
He explained that "his ministry is working to complete these projects until 2025, and we will raise gas production to large quantities from 2500 to 3000 million cubic feet of gas."
He pointed out that "all gas projects are either currently under implementation or under assignment or in preparation for the project.
Number of observations 117 Date added 09/24/2020 https://economy-news.net/content.php?id=21972
Parliamentary Finance: Al-Kazemi Affirmed His Keenness On The Reputation Of Investing In Iraq
MP Haitham Al-Jubouri Money and business Economy News – Baghdad The head of the Parliamentary Finance Committee, Haitham Al-Jubouri, confirmed, on Thursday, that Prime Minister Mustafa Al-Kazemi affirmed his keenness on the reputation of investment and investors and his monitoring to prevent any case of extortion.
Al-Jubouri said in a statement seen by "Al-Eqtisad News", that "based on the principle of responsibility and the difficult financial and economic conditions that the country is going through and coinciding with the government's efforts to combat corruption that were accompanied by some media news shaded by some media outlets and social media sites, and for some people to try to exploit these Procedures We met with Prime Minister Mustafa Al-Kazemi to discuss the concerns of some businessmen and investors about the possibility that these measures would affect the movement of investment and development in the country.
He added, "Al-Kazemi assured us of his keenness on the reputation of investment and investors and his personal control to prevent any abuse or blackmail."
He pointed out that "we agreed that the judiciary would be the decisive factor, based on the evidence and evidence presented by the formed committee."
Number of observations 131 Date added 09/24/2020 https://economy-news.net/content.php?id=21976
A Slight Increase In The Exchange Rate Of The Dollar In The Local Market
Thursday 24, September 2020 11:26 | EconomicalViews: 133 Baghdad / NINA / The exchange rates of the dollar registered a slight increase in the local market in Baghdad and some governorates.
The selling price on the Al-Kifah Stock Exchange recorded 122,900 dinars per 100 dollars, and the purchase price was 122 thousand and 500 dinars per hundred dollars. On Wednesday, prices were 123,000 dinars, compared to $ 100.
The selling prices in the exchange shops in the local markets in Baghdad were recorded : 123,500 dinars per 100 dollars sold, and the purchase price: 122,500 dinars per 100 dollars.
https://ninanews.com/Website/News/Details?key=858518
A Deputy Reveals A Tendency To Issue Treasury Bonds From The Central Bank To Continue Paying Salaries
The Baghdad Post Thursday, 24 September 2020 10:49 AM
A member of the Parliamentary Finance Committee, Representative Naji Al-Saeedi, revealed that the government plans to issue treasury bonds from the Central Bank to continue paying the salaries of state employees.
Al-Saeedi said that the government is still unable to pay salaries and other necessary operating expenses, so it has resorted to preparing a budget for four months, which is originally a new borrowing law.
”Al-Saidi added:“ The cost of state employees ’salaries for the month of September exceeded 3 trillion dinars, so the government will resort To the issuance of treasury bonds from the Central Bank to continue paying salaries, "indicating:" This will cause a collapse in the national economy by the end of next year 2021. " LINK
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
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