Iraqi News Highlights Monday Afternoon 11-14-22
Iraqi News Highlights Monday Afternoon 11-14-22
Tlm724 Administrator Bondlady’s Corner
Parliamentary Finance Rules Out Reducing The Price Of The Dollar: It Was Not Included In The Ministerial Curriculum
Posted On2022-11-14 By Sotaliraq Baghdad/ Firas Adnan Yesterday, Sunday, the Finance Committee in the House of Representatives ruled out resorting to reducing the price of the dollar and returning it to its previous value compared to the Iraqi dinar, pointing out that the ministerial curriculum is devoid of what refers to this paragraph, stressing that the budget is in the custody of a small government committee that prepares the final formulations, expressing It is hoped that the law will be voted on during the current year.
Committee member MP Jamal Cougar said, "The budget bill is still with the Council of Ministers, and it has not been voted on until the present time."
Cougar added, "The government has formed a mini-committee, which will deal with a pre-prepared draft of the ministries of finance and planning, and puts the final wordings in preparation for submission to the Council of Ministers."
He pointed out, “Parliament has extended the legislative term for one month, which is an authorization granted to us by the constitution for one time only, in the hope that the budget will reach us from the government during these days.”
Cougar called, "the government to take advantage of this extension, and work to expedite the sending of the budget bill, so that we can legislate it before the end of this year." The work will focus on the investment side, as most of the paragraphs of the ministerial curriculum are mentioned in it.”
And he indicated, "The budget did not witness a change in the exchange rate of the dollar at all," explaining that "If Prime Minister Muhammad Shia Al-Sudani had intended to change the price of the dollar, he would have included this in the ministerial curriculum voted on by Parliament when confidence was granted to his government." “.
Cougar continues, "I have reviewed the ministerial curriculum completely and in all its paragraphs, and I have not found anything in it that directly or indirectly indicates a change in the dollar exchange rate."
And he added, "One of the journalists asked Al-Sudani a clear question about the possibility of changing the exchange rate, and the government's adoption of this approach, and the answer came that this is the exclusive prerogative of the Central Bank, and the government has nothing to do with it."
He explained, "The Central Bank has previously confirmed the inability to change the exchange rate at least during the next year, and therefore all statements issued in this regard at the present time have no effect."
Cougar concluded, “The price of a barrel of oil in the budget is expected to be between 70 to 80 dollars, and we suggest it to be 75 dollars. Saudi Arabia estimated the price at 76 dollars, while the UAE estimated it at 69 dollars.”
The government financial advisor, Mazhar Muhammad Salih, had previously spoken about the option of “a gradual increase in the value of the dinar.” Saleh said, "Any future adjustment of the dinar exchange rate must be implemented gradually and over a period of time that takes more than a year, in order to provide an appropriate atmosphere for the financial adjustment."
For her part, the head of the committee, Mahasin Hamdoun, stated that “Parliament is still waiting for the draft budget law to be returned, and it is not possible to talk about its details at the present time, as this is within the competence of the government.”
Hamdoun continued, "The government confirmed its intention to speed up the passage of the law, and we will have two powers, either reducing the amounts or transferring between the doors."
She pointed out, "The draft should include paragraphs that talk about the appointment of contract holders who have been working for more than two years."
Hamdoun stressed, "its previous position that the project should not include a specific number for the price of a barrel of oil, which is set in dollars, because the amounts are in Iraqi dinars, and setting the price of oil may lead us to a deficit." LINK
Parliamentary Finance Reveals To / Nina / Some Details Of The Budget And The Date Of Its Approval
Monday 14 November 2022 09:11 | Economic Number of readings: 567 Baghdad / NINA / - The Parliamentary Finance Committee revealed some details of the state's general budget for the next year 2023 and the date of its approval in the House of Representatives.
Member of the committee, Representative Jamal Cougar, said in an exclusive statement to the National Iraqi News Agency / NINA /: "The state budget for the year 2023 will be in the range of 120 to 130 billion dollars, with the dollar exchange rate remaining unchanged."
He pointed out: “The price of a barrel of oil, on the basis of which the budget was calculated, is about 75 dollars per barrel, which is close to the price of a barrel in the Saudi budget, which was set at 76 dollars,” noting: “The deletion and creation will provide more than 50 thousand job positions in The budget,
and Cougar suggested approving the budget at the end of next month or the beginning of the next year, without disagreements over it. https://ninanews.com/Website/News/Details?key=1013862
The Dollar Exchange Rate Continues To Rise In The Iraqi Market
Economie| 10:09 - 14/11/2022 Baghdad - Mawazine News, the dollar exchange rates rose, today, Monday, on the Iraqi Stock Exchange. The selling prices of the dollar were 148,100 dinars per 100 dollars, while the purchase prices of the dollar were 148,000 dinars per 100 dollars. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=211205
Al-Sudani And Al-Mandlawi Stress The Need To Expedite The Presentation Of The Budget Law
Political | 04:24 - 14/11/2022 Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani and First Deputy Speaker of Parliament Mohsen Al-Mandalawi stressed, on Monday, the need to expedite the presentation of the budget law.
Al-Mandalawi's office said in a statement received by Mawazine News, that "the latter headed a parliamentary delegation that includes members of the Independent Iraq Alliance to meet with Prime Minister Muhammad Shia al-Sudani at the government headquarters, during which it was emphasized the need to strengthen coordination between the legislative and executive authorities to approve laws.
The important role that affects the lives of citizens and the economy of the country and the activation of broken laws, as well as giving the authorities and regulatory agencies a greater role to carry out their responsibilities in preserving public money and reducing corruption.”
The participants stressed, according to the statement, "the need to expedite the submission and approval of the draft general budget law, and to rely on scientific competencies in managing the joints of the state to provide tangible results on the ground, achieve economic development and create new job opportunities, in addition to supporting the industrial and agricultural sectors and encouraging investment to activate the private sector." https://www.mawazin.net/Details.aspx?jimare=211240
Oil Prices Rise And Gains Continue
Economie| 08:33 - 14/11/2022 Follow-up - Mawazine News : Oil prices rose on Monday, extending gains from the previous session, as China eased some of its strict protocols on the Corona virus, which boosted hopes for a recovery in economic activity and demand in the world's largest crude importer.
Brent crude futures rose 30 cents, or 0.31 percent, to $96.29 a barrel by 04:20 GMT, after settling at 1.1 percent on Friday.
US West Texas Intermediate crude futures were at $89.14 a barrel, up 22 cents, or 0.25%, after closing Friday's session 2.9% higher. Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=211195
Activities Of The Iraqi British Business Council.. Trade: Baghdad Seeks To Increase The Volume Of Trade Exchange With London
Economie| 02:18 - 14/11/2022 Baghdad - Mawazine News, Dubai hosted the activities of the Iraqi-British Business Council (IBBC) under the title "Together We Build Iraq", in the presence of the representative of the British Prime Minister in Iraq Baroness Emma Nicholson, the Governor of the Central Bank of Iraq Mustafa Ghaleb Mokhief, the British Ambassador to Iraq Mark Yarson, Minister of The State of UAE Foreign Trade Affairs Tahani bin Ahmed.
In a speech during the conference, Adel Khudhair Al-Masoudi, Director General of the Foreign Economic Relations Department at the Ministry of Commerce, said, "I am pleased to accept the invitation to participate in the activities of the Iraqi-British Business Council (IBBC) conference in Dubai under the title "Together we build Iraq", which serves as a platform Presenting visions of the Iraqi economy and how to invest the efforts made and the achievements made by the Iraqi state, and studying investment and growth opportunities in the various sectors of the state and the private sector, which is today more than ever one of the main pillars of the national, regional and international economies and must play its full role in all economic and commercial activities. .
He pointed to "the importance of the historic and renewed Iraqi-British relations, which contributed to consolidating the bonds of cooperation and support, and the role of the United Kingdom in supporting and supporting Iraq at various political and economic levels, and supporting it in all international and regional forums."
He added, "In light of the formation of the new Iraqi government at the beginning of last October, it set among its priorities the reform of the economy, support for the private sector and improvement of the business environment, and expressed its seriousness in strengthening international relations at all levels, and this coincided with the formation of the British government in its new era headed by Sunak, hoping That this creates other prospects for cooperation between the two countries."
He added, "Iraq seeks to create real partnerships between the Iraqi and British private sectors and work to increase the volume of trade exchange between the two countries, and that the Iraqi Ministry of Trade appreciates the interest of British companies through the Council (IBBC) in commercial opportunities in Iraq, including trade, agriculture, food processing and distribution."
Al Masoudi concluded his speech by saying: "I am pleased to extend my sincere thanks and appreciation to the government and people of the UAE for hosting this global event, and thanks to the organizers of this conference. . Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=211230
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