Iraqi News Early Tuesday Afternoon 4-19-22
Iraqi News Early Tuesday Afternoon 4-19-22
TLM724 Administrator BondLady’s Corner
Government Advisor: Changing The Exchange Rate Added To The Ministry Of Finance 20 Trillion Dinars
Posted On2022-04-19 By Sotaliraq A financial advisor in the Council of Ministers confirmed that changing the dollar exchange rate added to the Ministry of Finance 20 trillion dinars last year, pointing out that the amount is equivalent to what the state receives from non-oil revenues.
The chancellor criticized the House of Representatives for canceling allocations aimed at addressing the economic damage resulting from the decision, indicating that more than 25% of the Iraqi people live below the poverty line, stressing that the actual revenues of the customs apparatus do not exceed 10% of what it achieves.
Mazhar Muhammad Salih said in a television interview, which was followed by (Al-Mada), that "the decision to reduce the value of the Iraqi dinar against the dollar by 23%, had primary and basic objectives as a financial tool."
He continued, "When the Ministry of Finance sells the dollar to the Central Bank at the new price, it will get more revenues than it was getting in the past."
He pointed out, "The Ministry of Finance obtained, as a result of this decision, 20 trillion Iraqi dinars, and this amount is not small and is equivalent to non-oil revenues compared to last year's budget, which was also 20 trillion dinars."
Saleh pointed out that "a number of measures should have been taken in the face of this decision, including reducing the poverty gap," noting that the House of Representatives reduced the spending ceiling in the budget from 169 to 129 trillion.
Saleh stressed, "Part of this reduction was related to supporting the vulnerable segments, and therefore the parliament bears the responsibility as well."
He continues, "The area of poverty in Iraq is expanding, and it currently ranges between 25 to 30%, and this means that more than a quarter of the population lives below the poverty line."
And Saleh added, "There are areas in the south of the country, including Al-Muthanna Governorate, completely crushed, and the state's social and moral function is to intervene to deal with the economic damage that is occurring."
He went on to say, "Expenditures based on the previous budget according to the Financial Management Law are no longer sufficient," explaining that "the price of a barrel of oil based on the previous budget created a small deficit in a way that we can say that it (the budget) was balanced to some extent."
Saleh added, "The new requirements, in front of a large financial abundance achieved by oil revenues, are pressing towards searching for solutions in order to confront the poverty crisis."
He continues, "The government had two options, either to present the draft budget law, or to present an exceptional project that deals with those variables represented in the Emergency Support Law for Food Security and Development, and it resorted to submitting the latter to the House of Representatives for approval."
Saleh stressed, "The customs revenues, according to the current import rates, are supposed to come to us about 10 billion dollars annually, or no less than 8 billion dollars as a minimum estimate."
He explained that "the actual revenues generated by the customs are about one billion dollars annually or less, and the rest goes to exemptions and false estimates."
And Saleh went on to say, "The customs apparatus is experiencing a state of improvement by resorting to electronic means, and thus we have overcome many false estimates, but the problems do not end." LINK
Al-Kazemi’s Government Creates A “Miniature Model” Of The Budget, And Its Advisor Acknowledges The “Failure” Of The White Paper
Economic Last update 04/18/2022 | 12:48 PM The Information/Baghdad.. The economic advisor to the Prime Minister, Mazhar Muhammad Salih, acknowledged, on Monday, that the reform white paper approved by the government of Mustafa Al-Kazemi had not achieved the required achievements, indicating that the food security law is a “model” of the budget and needs urgent scrutiny by the Financial Control.
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Saleh said in a televised interview that "The White Paper" achieved very simple things," noting that
"some of the provisions of the White Paper need to be amended and up to 10 years to fix the situation, and that
one of the reasons The delay in applying the paper is the short period.”
He added, "There is no accurate statistic that counts agricultural crops and national products, and that tax evasion (there is neither a head god nor a sassy god) is due to chaos and tax evasion."
He explained, “The ability that brought the emergency support law to Parliament can deliver the budget,
but the emergency support will be an alternative to the budget in the event that the political blockage remains, and he is a legislator who wants to show a miniature “model” of the budget.
Regarding the number of employees and the possibility of their demobilization, Saleh said that “the number of employees has greatly inflated in Iraq, while the number of retirees has doubled recently, and it is difficult to lay off employees, and this will not happen in the worst circumstances.”
Saleh pointed out that "4 million retirees receive salaries from the budget and from the retirement fund, and that the retirement fund needs a very urgent review." https://almaalomah.me/2022/04/18/593469/
Economist: Achieving Self-Sufficiency In Fuel Will Bring Additional Revenues To The State Treasury
Economic Last update 04/18/2022 | 9:09 am Information / Baghdad... The economist, Wissam Al-Tamimi, said that the trend towards relying on the local product of fuel and not importing it will introduce new returns to the state treasury, pointing out that Iraq is one of the first oil exporters in the world and can be in the same rank in terms of fuel.
Al-Tamimi told "Al-Maalouma", that "talking about achieving self-sufficiency in fuel in the next two years will increase the state's revenues by stopping subsidies for imported fuel, in addition to the possibility of exporting this fuel abroad."
He added that "Iraq can contract with other countries by providing them with oil in exchange for fuel without giving them any amounts, until the completion of the construction of refineries for oil derivatives."
And he indicated that "the establishment of oil refineries will also have a positive impact, as it will accommodate thousands of graduates, as well as supplying the governorates within which it is located with oil derivatives without the need for transportation costs between one governorate and another or importing derivatives, in addition to it may provide power stations with the necessary fuel." finished 25
https://almaalomah.me/2022/04/18/593426/
Dollar Exchange Rates Against The Dinar
Economie| 10:24 - 19/04/2022 Baghdad - Mawazine News, today, Tuesday, the dollar exchange rates rose slightly in the Iraqi markets. Selling price: 147,750 dinars per 100 dollars, buying price: 147,550 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=190592
The Chinese Agreement With Iraq Enters Into Force
Today, Tuesday, the Government Media Cell announced the entry of the first project into the Chinese agreement in Dhi Qar.
Head of the Government Media Cell Haider Majid said in a press conference for the cell that "the most important projects that have been talked about for a long time within the Chinese framework agreement and entered into force is the project of signing Nasiriyah International Airport," noting that "this project is the first project that was initiated within the Chinese agreement." .
Majeed added that "there is a project to develop the cities of Kadhimiya and Adhamiya, and a committee has been formed and a subsequent meeting will be held in this regard," noting that "regarding the school building project, after assigning the General Secretariat the outstanding problems were identified, and there are 11 obstacles that were resolved and the implementing companies began six years ago." Months".
He pointed out that "more than 100 schools have been received out of a total of 8000 schools."
With regard to the Dhi Qar reconstruction fund, Majid explained that "after the cabinet decision regarding the Dhi Qar reconstruction fund, the projects were started," noting that "during the past week, six projects were opened, and in the coming weeks, 15 other projects will be opened."
He stressed that "the projects in Dhi Qar reached for the first time to the villages and countryside, and they numbered 206 projects in Dhi Qar province," noting that "these projects included the largest medical city in Iraq, as well as entertainment projects, stadiums, and the project to develop the ancient city of Ur."
Majeed stated that "the projects are very important, and they are of two types: lagging and stalled projects, and the second type is new projects." https://www.radionawa.com/all-detail.aspx?jimare=29094
Low Oil Prices In World Markets
Economie| 11:20 - 19/04/2022 Follow-up - Mawazine News: Oil prices fell today, Tuesday, in light of market fears of the repercussions of the closures in China, which were imposed there to combat the outbreak of the Corona virus.
By 10:26 Baghdad time, US crude futures "West Texas Intermediate" fell by 0.70% to $ 107.45 a barrel.
Meanwhile, Brent crude futures fell 0.56% to $112.53 a barrel, according to Bloomberg website data.
The decline came despite the announcement by Libya, a member of the "OPEC", yesterday that it had suspended crude production in its largest oil fields, as a state of "force majeure" was declared in the Sharara field. Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=190597
Planning Counting The Number Of Projects Under Implementation And Lagging
Economie| 02:37 - 19/04/2022 Baghdad - Mawazine News The Ministry of Planning revealed, on Tuesday, the number of projects that are still under implementation, while indicating that the general census of the population may be delayed until next year due to the delay in approving the budget.
The ministry's spokesman, Abdul-Zahra Al-Hindawi, said during a press conference for the government media cell, that "the projects that are still under implementation amount to more than 7,000 projects, while the lagging projects amount to 1452 projects," noting that "the ministry has developed several treatments for the lagging projects whose completion rates are attributed to them." less than 10%".
Al-Hindawi pointed out that "work is continuing to modernize projects, and a group of projects has been deleted, and costs have been reduced to 23 trillion dinars," stressing "the completion of 2,150 schools last year throughout Iraq."
Al-Hindawi added, "There are 50 hospitals, 30 of which have been completed, and the remaining hospitals are being treated."
Regarding the Iraq census project, Al-Hindawi stated, “The ministry continues to prepare for the census, but due to the budget delay, it may be delayed until the next year and there is a vision to convert the project into an investment,” noting that “the estimates, according to the population census models, the population for 2021 reached 41 million. Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=190612
Parliamentary Finance Meets To Discuss The Emergency Support Law For Food Security And Development
Political | 12:59 - 19/04/2022 Baghdad - Mawazine News The Finance Committee held a meeting today, Tuesday, to discuss the emergency support law.
The Media Department of the House of Representatives said in a brief statement received by Mawazine News that "the Finance Committee held a meeting today headed by Hassan Al-Kaabi to discuss the emergency support law for food security and development."
Earlier today, Tuesday, Parliament Speaker Muhammad al-Halbousi confirmed that the House of Representatives is proceeding to legislate the emergency security law. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=190605
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