Parliamentary Finance: The Salaries Of Employees Are Secured And The Budget Deficit Of 2027 May Reach 65 Trillion Dinars

Money and business Economy News — Baghdad A member of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, said that the committee has prepared its plans and preparations to discuss the draft general budget, pointing out that "the budget for 2027 is expected to reach the House of Representatives on October 15."

Al-Dulaimi said in a statement to the official newspaper, that "the Finance Committee will have a large role in the study of the budget and the organization of its items and discuss them to reach a vote on them within the House of Representatives," noting that "the expected deficit in the budget may reach about 65 trillion dinars."

‎She explained that "the committee will discuss within the treatments of the deficit the file of the exchange rate and the procedures that will be proposed by the Ministry of Finance," stressing that "there are treatments with the ministry will be seen by the Finance Committee after the arrival of the draft budget to the House of Representatives."

‎With regard to public spending, Al-Dulaimi stressed that "the salaries of employees are secure," pointing out that "the volume of oil exports is increasing, reaching about 3 to 4 million barrels per day, in addition to the existence of reserves at the Central Bank can contribute to supporting financial stability." https://www.economy-news.net/content.php?id=74250

The Shift Towards Electronic Collection Of Departments And Industrial And Commercial Sectors

Money and business Economy News _ Baghdad The Electricity and Energy Committee in the House of Representatives revealed the existence of a trend to convert 3 items to the entire electronic collection, and while the national electricity system suffers from the frequency of firefighting due to the lack of imported gas, a similar crisis was exacerbated by the owners of private generators for periods of up to six hours a day under the pretext of scarcity in the (Kaz).

A member of the Parliamentary Electricity Committee, Zahra Luqman Al-Saadi, said in an interview with the official newspaper "Economy News" that within the treatment of the file of "high loads", there is a government trend binding to convert subscribers from industrial and commercial classes and government departments to the entire electronic collection.

The deputy added that the committee is working to exercise the supervisory role on the distribution departments to ensure that all these items are provided with smart devices (POS) and smart meters, as the recovery of the amounts of these items represents the largest resource of the ministry.

In the midst of that, “morning” followed the complaints of citizens in Baghdad and the provinces, which confirmed the repeated extinguishing of the national system, and the same act is practiced daily by some owners of private and government generators alike, for periods of (4-6) hours a day under the pretext of the existence of scarcity of ketosis, while others appealed to impose strict control and inspection of the owners of generators to coincide with the deliberate extinguishing by them with an unprecedented lifting of the price of one amp from 15 thousand dinars to 22 thousand, citing the same argument.

Despite the ongoing interruptions and the apparent discontent among citizens, the Ministry of Electricity has maintained a media silence on the energy crisis, which has renewed with the approach of the winter season. In this context, Al-Sabah newspaper communicated by phone with the ministry, but the official spokesman chose not to respond or media cooperation, ignoring that this file is the biggest concern and permanent inspiration for citizens around the clock. https://www.economy-news.net/content.php?id=74248

Parliamentary Economy Discusses The Amendment Of The Industrial Cities Law

Money and business Economy News - Baghdad The Parliamentary Committee on Economy, Industry and Trade discussed on Tuesday the draft law to amend the Industrial Cities Law, in preparation for the completion of its final version and put it to a vote in the coming period.

A statement by the Information Department of the House of Representatives said that the committee held a meeting under the chairmanship of the President of the age, MP Omar Mohammed Mohammed Karim, in the presence of its members, in addition to the representative of the Union of Industrialists, the President of the Industrial Cities and Free Zones Authority and a number of legal representatives and the beneficiary sectoral bodies.

The statement added that the meeting witnessed hearing the views and suggestions of the members of the committee and representatives of the concerned authorities on the amendment articles, thus contributing to reaching a final legal formula that takes into account the requirements of the industrial sector and the development of the environment of industrial cities.

He pointed out that the committee is working to complete the discussion of observations and proposals in preparation for the submission of the draft law in its final form and vote on it in the coming period https://www.economy-news.net/content.php?id=74217

Responsible Source: Handling Companies Apologize For Serving Iranian Aircraft For Fear Of Sanctions

Money and business Economy News - Baghdad An official source confirmed on Wednesday that the Ministry of Transport and the Civil Aviation Authority do not bear the responsibility of not receiving Iranian aircraft, while noting that the handling companies and ground services apologized for providing their services to Iranian airlines for fear of sanctions.

The source said that "the Ministry of Transport does not bear the responsibility of not receiving Iranian aircraft, as well as the Civil Aviation Authority of the Council of Ministers, which is responsible for granting approvals in accordance with the principle of reciprocity with the Iranian side in the files of travel and aviation and in accordance with the laws governing aviation internationally."

He added that "the issue is related to handling companies and ground services, which are private non-governmental companies contracted with Iranian airlines to provide after-landing and pre-take-off services, including loading and landing bags and organizing the procedures for the departure of passengers to aircraft and other services," noting that "these companies are the ones who apologized to Iranian airlines for providing their services for fear of being subject to sanctions."

He added that "Iraqi airports provide a spatial environment for private companies that provide their services for wages and do not interfere in the nature of the contract of these companies with airlines in any detail." https://www.economy-news.net/content.php?id=74271

Iraq Calls From Doha For Effective Arab Cooperation To Recover Funds And Combat Corruption

Money and business Economy News – Baghdad Iraq participated on Wednesday in the sixth session of the Conference of the States Parties to the Arab Convention against Corruption, which was launched in the Qatari capital Doha, while the head of the Federal Integrity Commission, Mohammed Ali Al-Lami, called for strengthening Arab cooperation in the field of recovering funds and assets and confronting cross-border corruption.

The Federal Integrity Commission said in a statement that "the work of the sixth session of the Conference of the States Parties to the Arab Convention against Corruption was launched in Doha, with the participation of the delegation of the Republic of Iraq headed by the Chairman of the Commission, Mohammed Ali Al-Lami, to confirm Iraq's commitment to implement the agreement, which it acceded to in 2012."

She added that "the head of the Qatar Administrative Control and Transparency Authority, Hamad bin Nasser Al-Misnad, opened the conference, which witnessed the State of Qatar assuming the presidency of the sixth session of the Arab Convention against Corruption from the State of Palestine."

Al-Lami stressed that "corruption is a cross-border international scourge, and confronting it requires concerted efforts and cooperation between countries, such as international cooperation in combating terrorism, epidemics and diseases."

He pointed out that "Iraq continues to implement its national plans in the field of combating corruption, and is moving towards the adoption of the national strategy for integrity and combating corruption until 2030, in order to enhance transparency and the application of governance systems and digital transformation."

He explained that "Iraq's efforts are not limited to the financial, investigative and deterrent aspects, but include taking into account the principles of human rights and launching programs targeting various segments of society, especially young people, to promote a culture of integrity and combat corruption."

He pointed to the issuance of a regulation of the functional conduct of the elections, with the aim of preventing the exploitation of state resources, as well as the launch of honorable charters for integrity with the participation of social actors and opinion leaders.

In the file of the recovery of funds and assets, Al-Lami stressed that "this file occupies an important area of Iraqi national efforts," calling on the countries parties to the agreement to "active cooperation to overcome the difficulties that hinder the speedy implementation of requests for the recovery of funds and assets."

He stressed that "Iraq is determined to continue to fight corruption based on independence, community partnership and Arab and international cooperation."

The Conference witnessed the election of officers and the adoption of the agenda, as well as the discussion of a series of resolutions submitted by the Secretariat-General of the League of Arab States and proposals made by States parties to the Convention.

The Federal Integrity Commission is the official representative of Iraq in the Arab and United Nations Conventions against Corruption and follows up on their obligations, foremost among which is cooperation, exchange of assistance and experiences, and participation in relevant conferences and forums. https://www.economy-news.net/content.php?id=74259

Foreign Minister Discusses With His Iranian Counterpart The Reopening Of The Strait Of Hormuz

Money and business Economy News – Baghdad Foreign Minister Fuad Hossein on Wednesday discussed with his Iranian counterpart Abbas Araqchi the reopening of the Strait of Hormuz.

"I met in New York with the Foreign Minister of the Islamic Republic of Iran, Abbas Araqchi, and we discussed bilateral relations and developments in the region, the ongoing indirect contacts between Tehran and Washington, and efforts to de-escalate and reopen the Strait of Hormuz to navigation," Hussein said in a blog post on the X platform.

Hussein stressed that "dialogue and diplomacy remain the most effective path to contain tension and prevent its expansion, and that the security of the region and freedom of navigation require regional cooperation and responsible dialogue between the parties concerned."

He pointed out that "the meeting discussed the fight against terrorism across borders and the strengthening of economic cooperation, and we agreed to continue consultation to support regional security and stability https://www.economy-news.net/content.php?id=74256

Al-Sharaa: There Is A Project To Link Iraq's Oil Fields To Syrian Ports And Secure Safe Passage For Its Products

Money and business Economy News — Baghdad Syrian President Ahmed al-Sharaa revealed that there is a project to link Iraq's oil fields to Syrian ports and secure a safe passage for its products.

Al-Sharaa said after his meeting with Al-Zaydi and in an open dialogue within the activities of the Atlantic Council: "We have a long border with Iraq, and we seek to establish economic ties between Iraq and Syria, because this will improve relations in the common interest of the two countries."

“We are also trying to secure a safe passage for Iraqi products, especially oil products, through Syria.”

He pointed out that "there is a project to link the oil fields in Iraq with the Syrian seaports, as an alternative through Bab al-Mandab and the Suez Canal, this path has been in place since the fifties of the last century, but it was stopped because of the poor political relations between Syria and Iraq. We are now trying to address the mistakes and problems that have occurred over the past half century.” https://www.economy-news.net/content.php?id=74251