Iraqi News Friday PM 9-3-21
Iraqi News Friday PM 9-3-21
TLM724 Administrator BondLady’s Corner
Member Tobyboy: You don't need international support of putting your hand out begging for money. Suggestion arrest your crooked politicians and seize the money they have stolen from your country. Also increase the purchasing power of the dinar. You will have Billions of dollars in your possession rather than begging other countries. Oh, don't forget to eliminate the immunity these politicians receive daily for stealing your countries funds. See how much better that would be rather than beg.
Finance Minister: $120 Billion Was Spent On Electricity In Seven Years, And Clean Energy Will Provide Job Opportunities
money and business Economy News _ Baghdad Finance Minister Ali Abdul-Amir Allawi confirmed that the white paper seeks to fundamentally change the nature of the Iraqi economy, while noting that increasing clean energy efficiency will allow creating job opportunities, and revealed the disbursement of $120 billion on electricity in seven years.
Allawi said in an article published by the Guardian newspaper and followed by “Al-Iqtisad News”, that “the estimates indicate that poverty rates in Iraq doubled in 2020 and this is largely due to the decline in Iraq’s oil revenues, as prices fell globally due to the collapse in demand caused by the epidemic.” "We cannot allow the livelihoods of millions of families to continue to be dictated by the unpredictable fluctuations of the oil market," he said.
He explained that "correcting this matter will require policies and investments that will enable oil and gas producing countries such as Iraq to direct capital and labor to productive industries in the future and contribute to empowering and stimulating the role of the private sector.
In fact, this was one of the main motives behind the white paper for economic reform, which seeks To fundamentally change the nature of the Iraqi economy, allow the private sector to play a greater role, reduce Iraq’s dependence on oil exports and commit to economic renewal focused on environmentally sound policies and technologies.
Allawi added, "Iraq can play an important role by taking advantage of the huge potential to produce and provide clean energy, as oil and gas production constitutes up to 40% of total greenhouse gas emissions and the continuous burning of natural gas in oil wells, which necessitates us Commitment to reducing gas flaring and investing it,” stressing that “increasing energy efficiency will have other benefits as well,
and this means that we will not need to spend huge amounts to increase the general level of electricity provision, and that Iraq’s inability to provide enough electricity to meet demand has cost the country nearly of $120 billion over the past seven years.
He pointed out that "increasing energy efficiency will allow creating job opportunities in areas such as building and maintaining energy-efficient green buildings, as a recently published International Energy Agency report showed that for every $1 million invested in energy efficiency, up to 30 jobs are created, and that this matter It is very important in a country like Iraq, which is witnessing huge population increases that will need job opportunities in the future."
He continued: "The worst potential solar sites in Iraq get up to 60% of direct energy from the sun, and this percentage is higher than the best sites in Germany, but with that, the solar power plants built by Germany so far provide two and a half times of Electric power for all oil, gas and hydroelectric plants operating in Iraq combined.
He noted: "In order for Iraq to move towards clean energy, it needs financial resources, expertise and policies that will transform its economy in an equitable and affordable manner, and this requires international support. Otherwise, heading towards net carbon dioxide emissions to zero by 2050 will be a distant dream." attainable.”
Views 105 Date Added 09/03/2021 https://economy-news.net/content.php?id=26182
Source: Parliament Will Not Be Able To Hold Any Session During The Coming Period
political| 12:52 - 03/09/2021 Exclusive - Mawazine News A parliamentary source said, on Friday, that the House of Representatives will not be able to hold any session during the remaining period, prior to holding early elections next October.
In an interview with Mawazine News, the source said, "Parliament has failed to hold sessions for the past two months, and it will not be able to hold any session during the remainder of its current legislative term."
He explained that "the reason for this is due to the preoccupation of the parliament presidency and the rest of the parliament members with electoral campaigns, in preparation for the legislative elections that are scheduled to take place on the tenth of next October," noting that "this matter caused the disruption of the legislation of many important laws and postponed them to the next parliamentary session." . Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=166032
Iraq Participates In The Conference Of The Board Of Governors Of The Islamic Development Bank In Uzbekistan
Banks Economy News _ Baghdad The Central Bank of Iraq, Mustafa Ghaleb Mokhif, participated in the conference of the Board of Governors of the Islamic Development Bank in Uzbekistan.
A central bank statement received by "Al-Iqtisad News" stated that "the governor of the Central Bank headed the Iraqi delegation at the conference, which discussed a number of issues related to development in Islamic countries and the challenges that faced their economies in the wake of most of them being exposed to the repercussions of the Corona pandemic."
The statement indicated that "the conference dealt with enhancing the importance of the role of the Islamic Development Bank in assisting member states in sustainable recovery from the ongoing impact of the emerging corona pandemic, efforts to combat poverty, build resilience and create job opportunities for youth, in addition to implementing national development plans for member states, and stimulating economic growth." green and mobilizing additional resources for development.
He added, "Makhif reviewed the government's plans in the short and medium terms to revive the economy and achieve the goals stated in the government program and the central bank's role in creating job opportunities through its various development initiatives."
Views 112 Date Added 09/03/2021 https://economy-news.net/content.php?id=26184
Dollar Exchange Rates In Local Markets
Market Economy News _ Baghdad The dollar exchange rates are still maintaining their stability in the local markets, for the eighth consecutive day.
The selling prices of the dollar recorded today, Friday, 147,500 dinars per 100 dollars, while the purchase prices of the dollar recorded 147,000 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. Views 83 Date Added 09/03/2021 https://economy-news.net/content.php?id=26183
Iraq Takes New Measures In Border Areas Devoid Of Military Units
a wish| 11:25 - 03/09/2021 BAGHDAD - Mawazine News The Border Guard Forces Command announced, on Friday, that it has taken new measures in the border areas devoid of military units, while determining the terrorists' destination after putting pressure on them in the desert areas.
The commander of the border forces, Lieutenant-General Hamed Al-Husseini, said in a statement to the official agency, "After the pressure and operations continued on ISIS terrorists in the south of the desert, there are those who fled trying to cross to a safe area for them, represented by the triangle of the international road Akashat-Al-Qaim, and the Al-Waleed junction line - Trebil, to the Syrian border line.
He pointed out that "the border guards transmitted the available information to all the responsible units, whether it was the army or the popular mobilization, and then the current security operation began."
Al-Husseini added, "Some border areas do not have pieces, so the forces are chasing terrorists and searching closely, from which it is difficult for anyone to escape."
https://www.mawazin.net/Details.aspx?jimare=166024
Oil Prices Are Rising Again
Pratha News Agency84 2021-09-03 Oil prices were mixed, on Friday, after a strong rise in the previous session due to the weakness of the dollar and the decline in US crude inventories, and was headed for modest weekly gains ahead of the highly anticipated US monthly jobs report.
Brent crude futures rose 13 cents, or 0.2%, to $73.16 a barrel at 0619 GMT, while US West Texas Intermediate crude futures were down 4 cents, or 0.1%, at $69.95 a barrel.
Both benchmark oil contracts jumped 2% on Thursday, putting WTI on course for a 1.8% gain this week, while Brent crude is headed for a 0.6% weekly gain.
This week's increase also came amid a weaker US dollar, which makes oil cheaper in other currencies, and the fallout from Hurricane Ida.
About 1.7 million barrels per day of oil production remains closed in the US Gulf of Mexico, sources told Reuters, as damage to helicopters and fuel depots slowed the return of crews to offshore platforms.
To offset the supply impact, oil demand has been curbed as extended power outages slowed the reopening of shuttered refineries in Louisiana.
Demand is likely to be in focus after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively called OPEC+, this week stuck to their plan to add 400,000 barrels per day to the market over the next few months amid a significant rally. http://burathanews.com/arabic/economic/399077
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