Iraq Economic News and Points To Ponder Sunday Afternoon 9-22-24
Kurdistan Deposits Nearly 100 Billion Dinars Of Non-Oil Revenues Into The Central State Treasury
Sunday 22 September 2024 | Economic Number of readings: 313 Baghdad / NINA / The Ministry of Finance and Economy in the Kurdistan Region announced today, Sunday, the deposit of nearly 100 billion dinars in financial revenues for non-oil revenues for last May.
The ministry stated in a statement today that it "deposited an amount of 91 billion, 151 million and 784 thousand dinars to the federal government as the federal treasury's share of the non-oil revenues of the Kurdistan Region for the month of May of this year." https://ninanews.com/Website/News/Details?key=1156473
Iraq's Oil Exports To America Fell Last Week
Sunday 22 September 2024 | Economic Number of readings: 172 Baghdad / NINA / The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America decreased during the past week.
The administration said in a table, "The average US imports of crude oil during the past week from 8 major countries amounted to 5.645 million barrels per day, down by 142 thousand barrels per day from the previous week, which amounted to 5.787 million barrels per day."
It added that "Iraq's oil exports to America amounted to 155 thousand barrels per day last week, down by 67 thousand barrels per day from the previous week, which amounted to 222 thousand barrels per day."
The administration indicated that "the largest oil revenues to America during the past week came from Canada at a rate of 4.155 million barrels per day, followed by Mexico at an average of 420 thousand barrels per day, followed by Brazil at an average of 306 thousand barrels per day, from Nigeria at an average of 264 thousand barrels per day, and from Saudi Arabia at an average of 210 thousand barrels per day."
According to the table, "the amount of US imports of crude oil from Colombia was at a rate of 121 thousand barrels per day, and from Ecuador at a rate of 54 thousand barrels per day." / https://ninanews.com/Website/News/Details?key=1156449
Iraqi Currency Auction Records A 97% Jump In Foreign Remittances
Time: 2024/09/22 Reading: 650 times {Economic: Al Furat News} Sales of foreign remittances at the Central Bank auction on Sunday witnessed a 97% increase compared to cash sales, reaching more than $253 million.
The bank sold in its auction today 260 million, 796 thousand and 77 dollars, at a basic exchange rate of 1310 dinars per dollar for documentary credits and international settlements for electronic cards, 1310 dinars per dollar for foreign transfers, and 1305 dinars per dollar in cash.
Most of the dollar sales went to boost balances abroad in the form of remittances and credits, which amounted to $253,996,077, up 97% from cash sales of $6,800,000.
The number of banks that purchased cash dollars was one bank, while the number of banks that met requests to enhance balances abroad was 13 banks, and the total number of exchange companies participating in the auction was 11 companies. LINK
Advisor To The Prime Minister: National Plans To Improve Digital Transformation In State Institutions And We Are Ready To Support The Development Of The IT Sector
Sunday 22 September 2024 | Economic Number of readings: 181 Baghdad / NINA / The capital, Baghdad, hosted the activities of the "Iraq International Information and Communications Technology Exhibition and Conference ITEX", the third session, which is organized by the Communications and Media Commission on the grounds of the Baghdad International Fair.
Saleh Mahoud, Advisor to the Prime Minister for Banking Affairs and his representative during the opening ceremony of the exhibition today, Sunday, said that "the conference provides an opportunity for cooperation between the public and private sectors, which encourages strategic companies that contribute to the development of a strong technological infrastructure.
Organizing and activating such a conference and the services it provides is an urgent necessity, as the Iraqi government and the Prime Minister look forward to the importance of this event being an appropriate opportunity for discussions and exchange of experiences and ideas to achieve sustainable development and prosperity for our great people, which enhances Iraq's position as a pioneer in the field of digital innovation."
He called on all institutions and the private sector organizing the conference to exploit the challenges as an opportunity to achieve success in future plans.
He added, "This conference comes at an important time as the Iraqi government seeks to achieve a clear vision on how to use technology to improve the quality of services and enhance transparency and community participation.
Therefore, the government has realized, since the start of its duties at the end of 2022, the importance of the information technology, communications and digital sectors, as it has worked in continuous coordination with relevant local and international sector bodies to develop and support this sector and establish a modern infrastructure and foundation."
He explained, "The Iraqi government has taken a number of important steps in the field of information and communications technology, including the establishment of regulatory laws and legislation that provide a suitable environment for investment in information and communications technology.
These laws aim to encourage innovation and protect the rights of investors. The Iraqi government also pays special attention to developing the communications infrastructure, which includes efforts to increase internet speed and expand networks to cover more areas in our beloved country."
He added, "The government supports encouraging local and foreign investment in the information technology sector by providing banking incentives, including financial support for emerging projects in this field, and encourages the establishment of partnerships with private companies to accelerate technological development."
Regarding the implementation of a national digitization plan, the advisor confirmed that, "The Iraqi government has developed national plans to improve digital transformation in government institutions, which includes digital platforms for providing government services to citizens such as registering documents, paying taxes, and submitting complaints, with the aim of facilitating procedures and reducing the time and effort expended, which facilitates services to citizens and increases the efficiency of government performance.
" Regarding training and qualification programs, Mahoud noted that "the government provides training programs with the aim of qualifying youth and professionals in various fields of information technology, and holds workshops and lectures to enhance digital skills."
In the field of supporting start-up companies, the advisor stressed that "the Iraqi government has paid special attention to supporting companies in the field of technology, as a number of platforms and efforts have been provided that provide financial support to encourage entrepreneurs to innovate and expand."
In the field of cooperation with international companies, he pointed out that the government is expanding its relations with leading international companies in the field of communications and information technology, which helps bring new expertise and technology to Iraq.
He continued by saying, "The steps taken by the government in the field of information and communications technology are important indicators of the trend towards sustainable economic and social development, as Iraq seeks, through these efforts, to confront the current challenges in this field while ensuring the enhancement of its competitive capabilities in the international arena,"
stressing the Iraqi government's readiness to make every effort and provide support to all local and international entities, institutions and companies in order to develop the information and communications technology sector, and considers this an essential part of the strategic plan for economic growth and achieving financial stability in Iraq. https://ninanews.com/Website/News/Details?key=1156511
PM's Advisor: Government Takes 8 Steps To Improve Technology Sector
Money and business Economy News – Baghdad The Prime Minister's Advisor for Banking Affairs, Saleh Mahoud, stressed on Sunday the importance of cooperation between the public and private sectors to develop the technological infrastructure in Iraq, while pointing out that the Iraqi government has taken 8 strategic steps to improve the technology sector in the country, stressing the existence of serious government efforts to achieve leadership in the field of digital innovation.
"We are pleased to represent the Prime Minister in attending the conference, and we convey his greetings and high appreciation, as he commends this conference and blesses its efforts," Mahoud said in his speech during the opening of the Iraq International Information and Communications Technology Exhibition and Conference (ITEX), which was followed by "Economy News."
He added that "the conference provides an opportunity for cooperation between the public and private sectors, which encourages the establishment of strategic companies that contribute to the development of a strong technological infrastructure."
He pointed out that "organizing and activating such conferences is an urgent necessity, as the Iraqi government, led by Prime Minister Mohammed Shia al-Sudani, looks forward to the importance of this event being an appropriate opportunity to discuss the exchange of experiences and ideas to achieve sustainable development and prosperity for our great people, which enhances Iraq's position as a leading country in the field of digital innovation."
He stressed that "digital transformation has become an inevitable necessity in recent years in the governmental and private sectors and even in our daily lives."
He added that "this conference comes at an important time, as the Iraqi government seeks to achieve a clear vision on how to use technology to improve the quality of services and enhance transparency and community participation."
He explained that "the current Iraqi government, since the start of its duties at the end of 2022, has worked to develop the information and communications technology sector, in coordination with relevant local and international sectors."
He pointed out that "the Iraqi government has taken a set of important steps in the field of developing information and communications technology, including:
1- Establishing laws and legislation to provide an appropriate environment for investment in information and communications technology, aiming to encourage innovation and protect the rights of investors.
2- Improving infrastructure, including supporting efforts to increase internet speed and expand networks in all regions of Iraq.
3- Achieving investment, as the Iraqi government encourages local and foreign investment in the information technology sector by providing banking incentives, including financial support for emerging projects in this field.
4- Partnerships with the private sector to accelerate technological development.
5- Implementing a national digitization plan to improve digital transformation in government institutions. This includes digital platforms for providing government services to citizens, such as registering documents, paying taxes, and submitting complaints, with the aim of facilitating procedures and reducing the time and effort expended, which facilitates the services provided to citizens and increases the efficiency of government performance.
6- Training and rehabilitation programs for youth and professionals in the fields of information technology, in addition to holding workshops and lectures to enhance digital skills.
7- Supporting emerging companies, by providing financial support to encourage entrepreneurs to innovate and expand.
8- Cooperating with international companies to bring new expertise and technology to Iraq.
Mahoud explained that "the above-mentioned steps are important indicators of the trend towards sustainable economic and social development."
He stressed "the government's readiness to make every effort to provide support to all local and international entities, institutions and companies in order to develop the information and communications technology sector."
He concluded by saying: “We urge all institutions and the private sector organizing the conference to exploit all challenges as an opportunity to achieve success in future plans.”
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