Iraqi News Highlights Late Monday Evening 7-31-23
Iraqi News Highlights Late Monday Evening 7-31-23
Tlm724 Administrator Bondlady’s Corner
Adviser To The Prime Minister: Central Bank Measures Reduced The Dollar By 60 Points Against The Dinar
Economy yesterday, 22:07 Baghdad – conscious Adviser to the Prime Minister Fadi Al-Shammari confirmed today, Monday, that the Central Bank's measures reduced the dollar by 60 points against the dinar. Al-Shammari said, in a statement received by the Iraqi News Agency (INA):
"The rapid measures that Prime Minister Muhammad Shia'a al-Sudani directed to implement them contributed to gradually rebalancing the dinar exchange rate," noting that, "after a series of precise and effective measures from the Central Bank, it decreased." The dollar increased by 60 points against the Iraqi dinar.
He added, "The Iraqi government seeks to control the rhythm of the financial market, encourage traders to engage in legitimate financial transactions, and ease administrative procedures," expecting that "decisions to reduce taxes will contribute to increasing the value of the Iraqi dinar during the coming period."
And he continued, "The central bank's procedures for transferring 116 exchange companies that were receiving their weekly shares of dollars from the punished banks to other banks and easing the imposed taxes, as well as the central bank's diagnosis of manipulators, contributed effectively to the stability of the dinar's exchange rate." https://www.ina.iq/190618--60-.html
Petroleum Products Announce The Adoption Of An Electronic Application To Complete Citizens' Transactions
Economy 07-29-2023, 21:31 Baghdad - Conscious - Hassan Al-Fawwaz Today, Saturday, the Petroleum Products Distribution Company announced the adoption of an electronic application to complete citizens' transactions, while indicating that it will reduce routine and end extortion.
The Director General of the Petroleum Products Distribution Company, Hussein Talib, told the Iraqi News Agency (INA):
"The (electronic fuel card) application has become available on all mobile phones, and it is linked to all administrative formations in the Petroleum Products Distribution Company, to complete citizens' transactions without reviewing the company."".
He stressed, "The company intends to make the automation project a success, to reduce the routine episodes, and to end suspicious operations or extortion operations that the citizen may be exposed to by outlaws." He added, "The application of the electronic fuel card was implemented in Kirkuk Governorate, and succeeded in expediting the completion of citizens' transactions to receive the fuel card."
He pointed out, "The application will be circulated to all interests associated with the oil products distribution company, to end the extortion operations that the citizen may be exposed to, and to remove suspicions against the company." https://www.ina.iq/190487--.html
Al-Budaiwi: There Are Gulf Plans To Supplement The Iraqi Economy
Monday 31, July 2023 12:31 | political Number of readings: 501 Baghdad / NINA / - The Secretary-General of the Cooperation Council for the Arab States of the Gulf, Jassem Muhammad Al-Budaiwi, affirmed:
"There are Gulf plans to supplement the Iraqi economy, and we hope to benefit from them."
Al-Budaiwi said in a joint press conference with Foreign Minister Fuad Hussein:
"We need to move forward to consolidate relations between Iraq and the Gulf states," noting:
"The electrical connection with Iraq is an ambitious project."
He added: "We are working to ensure the security and prosperity of Iraq and strengthen relations with it," noting: "Iraq plays a major role in managing the regional and international files." / End 9
https://ninanews.com/Website/News/Details?key=1067987
Iraq's Revenues Exceed 45 Trillion Dinars In 5 Months, And An Expert Warns Of The Rentier Economy
Economy breaking Oil export Iraqi economy Rental economy Financial revenue
2023-07-31 05:04 Shafaq News/ The Iraqi Ministry of Finance revealed, on Monday, that the revenues collected for the country during the past five months exceeded 45 trillion dinars, of which 95.5% were oil, while an economist warned of the continuation of the rentier economy.
The ministry published the accounts of the Iraqi state from January until last May for the fiscal year 2023, and Shafaq News Agency reviewed them, as it showed that oil is still the main resource for Iraq's general budget, which indicates that the rentier economy is the basis for the budget. General Iraq.
And through the financial tables, it indicated that the total revenues until the month of May amounted to 45 trillion and 552 billion and 80 million and 454 thousand and 325 dinars, after excluding the transfer revenues from them, which amounted to one trillion and 935 billion and 958 million and 139 thousand dinars, explaining that the total expenditures with advances amounted to 37 trillion and 856 One billion and 446 million and 546 thousand dinars.
According to the finance table, oil revenues amounted to 45 trillion and 462 billion and 287 million and 873 thousand and 109 dinars, while non-oil revenues amounted to two trillion and 25 billion 750 million and 720 thousand and 592 dinars, which provided the federal budget.
For his part, economist Muhammad al-Hassani said, in an interview with Shafaq News Agency, that
"the survival of Iraq's economy as a rentier will pose a threat to the economy in the future," noting that "any collapse in oil prices will lead to bankruptcy of the general budget." He added that "the countries of the world are currently moving towards clean energy and dispensing with fossil fuels," pointing out that "the developed countries have allocated no less than 40% of the funds to finance green energy projects."
Al-Hassani explained that "oil-producing countries, especially the Gulf countries, have realized the dangers of this and have begun to diversify their economy and reduce their dependence on oil, with the exception of Iraq, which is still throwing its weight on oil and gas without diversifying its economy, and for this we see that the Iraqi market is the largest importer of goods, commodities, and even vegetables."
The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, confirmed in March 2021, in an interview with Shafaq News agency, that "the reasons for the economy remaining rentier go back to the wars and the imposition of the siege during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources."".
The continuation of the Iraqi state’s dependence on oil as the sole source of the general budget is a dangerous matter in the face of global crises that occur from time to time due to the impact of oil on them, which makes the country tend every time to cover the deficit through borrowing from abroad or from the inside, and thus indicates the inability to manage State funds effectively, and the inability to find alternative financing solutions.
Iraq Recovers Government Officials Convicted Of Corruption Cases From The Sultanate Of Oman
Policy breaking Integrity Commission Corruption in Iraq
2023-07-31 00:21 Shafaq News/ The Federal Integrity Commission announced, on Monday, the recovery of two government officials convicted of financial corruption cases, who fled to the Sultanate of Oman, indicating that their arrest was carried out in cooperation with the Omani authorities and Interpol.
The recovery department of the authority said, in a statement received by Shafaq News agency, that the convicts, one of whom was the former director general of urban planning in the Ministry of Construction, Housing, Municipalities and Public Works, and the other the former director general of the Anbar Agriculture Department.
It indicated that they were arrested on the territory of the Sultanate of Oman. Based on the international arrest warrants and recovery files organized by the department in cooperation with the competent courts, according to the research radio issued by the Council of Arab Interior Ministers.
She explained that a team from the Recovery Department, accompanied by a security detachment from the Arab and International Police Directorate at the Ministry of Interior (Interpol), received the convicts in cases of abuse of job position and willful damage to state funds and illegal appropriation of them in the capital, Muscat, and they arrived this morning at Baghdad International Airport, from in order to hand them over to the judicial authorities; to receive their just punishment.
The department added that the two convicts had previously been convicted by the Iraqi judicial authorities by decisions in absentia issued by the Central Anti-Corruption and Anbar Criminal Courts; Based on the provisions of Articles 316 and 340 of the Penal Code.
The department appreciated the role of the competent authorities in the Sultanate of Oman in cooperation and coordination with the Iraqi authorities in arresting and handing over the convicts, stressing that the commission is determined to clamp down on the corrupt fugitives, and to coordinate with the countries in which they reside; In order not to become safe havens for wanted fugitives.
It indicated that the convicts were arrested in the territory of the Sultanate of Oman, according to the radio search issued against them. Based on the international arrest warrant with the Iraqi judicial authorities, which was requested and organized by the Recovery Department, the recovery files were organized very quickly; This led to the success of their recovery process.
On February 23, the commission announced a preliminary agreement between the head of the Integrity Commission, Judge Haider Hanoun, and the head of the Financial and Administrative Control Authority in the Sultanate of Oman, Sheikh Ghosn bin Hilal Al-Alawi, to conclude a memorandum of understanding in the field of combating corruption and exchanging information and investigations about the defendants wanted by the court. and corruption funds smuggled abroad in order to recover them.
https://shafaq.com/ar/سیاسة/العراق-يسترد-مس-ولين-حكوميين-مدانين-بقضايا-فساد-من-سلطنة-عمان
The Discovery Of New Oil And Gas Fields In The Western Anbar Desert Areas
Information / Anbar.. On Friday, the director of the Jubbah Municipality Department in Anbar, Qatari Al-Obeidi, announced the discovery of new oil and gas fields in the province, denying that exploration operations had stopped for security reasons in the western regions.
Al-Obeidi said in a statement to Al-Maalouma Agency, "The Oil Exploration Company affiliated with the Ministry of Oil conducted exploration operations targeting the desert of al-Baghdadi district in the Hit district towards the Tharthar desert, west of Anbar, which resulted in the discovery of new oil and gas fields that are not indicated by the Ministry of Oil."
He added, "These fields contain large quantities of oil derivatives, minerals and phosphates, and the targeted areas are still subject to exploration after there are indications that these areas float on large quantities of oil and gas fields."
The director of the Jubba municipality department explained, "The news that talked about stopping the exploration of oil and gas fields for security reasons is untrue, and the exploration operations are taking place according to the plan drawn for them by the concerned authorities and with the support of the security forces," noting that "the exploration operations are still ongoing and from It is hoped that the results of excavations in these areas will be announced within the next few days.
Al-Obaidi said, "The security forces have fully secured all the areas where excavations are being conducted, in addition to the explosives treatment teams deactivating hundreds of unexploded explosive devices left behind by ISIS terrorists."
It is noteworthy that the Ministry of Oil sent a short while ago new seismic teams to the western regions to conduct exploration operations for oil and gas fields. Ended / 12 a
https://almaalomah.me/news/local/اكتشاف-حقول-جديدة-للنفط-والغاز-في-مناطق-صحراء-الانبار-الغربي
To read more current and reliable Iraqi news please visit BondLady’s Corner: