Iraqi News Highlights Saturday Afternoon 6-3-23
Iraqi News Highlights Saturday Afternoon 6-3-23
Tlm724 Administrator Bondlady’s Corner
A Government Advisor Expects The Budget To Be Approved On This Date
Economy| 06:32 - 03/06/2023 Baghdad - Mawazine News , the political advisor to the Prime Minister, Fadi Al-Shammari, expected today, Saturday, the date for voting on the 2023 draft budget in the House of Representatives, and while he clarified its most important adoptions, he pointed out that Iraq seeks to be a point of regional and international balance and an essential element in the stability of the Middle East region.
Al-Shammari said, "It is hoped that a vote on the financial budget will take place in less than ten days, and the disagreement regarding the articles pertaining to the region must remain within its technical framework and not be turned into a political dispute."
And he added, speaking of the budget adoptions, "I say with a decisive tooth that the 2023 budget is the first budget that will do justice to the central and southern governorates, and when approved, these governorates will turn into a large workshop and launch major projects that have not been seen in 50 years."
He stressed, "The government is keen to do justice to the central and southern governorates, remove injustice from them, and rebuild the liberated cities, and included in the budget the construction of 10 new hospitals to serve the people of the districts and sub-districts, most of which are in the central and southern governorates."
He pointed out, "The prime minister carries out his duties from 7 am, without interruption, sometimes until after midnight, with work continuing even on Friday, and he is not looking for self-victory or individual success, but rather he wants everyone's success."
And he continued, speaking about the development path project, that "the government seeks to include Iraq in the classification of developing countries that attract investment, and the development project will be accompanied by the construction of the largest industrial city in the Middle East near Al-Faw city, which will attract major international companies." confirmed, that
He added, "Iraq was the focal point of the Saudi-Iranian agreement that was announced in Beijing, and opened its doors to China and the world to contribute to the reconstruction of Iraq and invest in it," stressing, "The Iraqi government's vision and strategy is to work to liberate the region and the Middle East in general from a state of dependence." For the axes that the region has lived through since World War II.” https://www.mawazin.net/Details.aspx?jimare=228308
The International Monetary Fund Praises The Policies Of The Central Bank In Supporting The National Economy
Sameer Al-Nusairi In light of the periodic review meetings of the International Monetary Fund experts who met with Iraq in Jordan in the last week of last May to discuss with the Iraqi side about recent economic developments and expectations as well as plans for fiscal and monetary policy in the coming period, and from an analysis of what was contained in the statement issued by the Fund,
which refers to A slowdown in the growth of the Iraqi economy in recent months, after recovering to a level before the Corona pandemic last year, at the level of oil production and export, the main source of revenue, in addition to fluctuations in the foreign exchange market in the wake of tightening control over combating money laundering and terrorist financing by the Central Bank of Iraq. .
In addition, estimates of real non-oil GDP may have contracted by 9% (on an annual basis) in the last quarter of 2022, and expectations of the effects of a non-rise in oil prices in the event that they do not reach the price of $96 per barrel, which is the price required to achieve balance (zero deficit).
In public finances, and to overcome the deficit in the 2023 budget, it will lead to Iraq and its investment plans entering the circle of embarrassment and risk, and will confuse the government’s economic reform programs. The planned budget deficit is expected to rise to more than 40% of GDP in 2023 when oil prices drop to $70 a barrel.
In addition, the delay in the issuance and approval of the 2023 budget after 5 months have passed since the current year. Certainly, the current economic situation, by relying heavily on oil and not drawing the required policies to activate non-oil productive sectors, will keep the Iraqi economy under an annual inflation rate of not less than 5.6% in
In the best case, the general level of prices will continue within limits that are difficult to control, but despite the pessimistic view of the statement, the fund experts clearly indicated the progress made by the Central Bank in improving liquidity management and frameworks for combating money laundering and terrorist financing and its sound procedures in close alignment with the position of policies Financial and monetary management of the economy, and this confirms that the policies and initiatives that the Central Bank plans to launch within its next strategy will contribute significantly to overcoming failures and repercussions, supporting the national economy and enabling the government to implement its economic reform program.
And that the arrival of the foreign cash reserves of the Central Bank to the limits of 110 billion dollars, with the efforts made to maintain the continued stability of the currency exchange market, will contribute to reducing the inflation rate and maintaining a balanced level of prices. Online payment
In banking and commercial dealings, he will support the government's plans for the desired economic reform. Views 152 06/03/2023 - https://economy-news.net/content.php?id=34539
More Than One Billion And 270 Million Dollars... The Sales Of The Central Bank Of Iraq During The Past Week
Saturday 03, June 2023 13:34 | Economical Number of readings: 685 Baghdad / NINA / - The Central Bank of Iraq's total sales of hard currency to dollars during the past week amounted to more than one billion and 270 million dollars.
And the Central Bank stated in a statement that, during the past week, during the five days in which the auction was opened, it sold one billion and 270 million and 511 thousand and 571 dollars, at a daily rate of 254 million, 102 thousand and 314 dollars, down by 3.6% from what was recorded in the previous week, which reached a daily average. 263 million 581 thousand and 896 dollars.”
He added, “The highest dollar sales during the past week were on Tuesday, when sales reached 267 million 83 thousand and 785 dollars, while the lowest sales were on Thursday with 240 million 525 thousand and 519 dollars.”
He pointed out that "sales of foreign remittances amounted during the past week to one billion and 54 million and 561 thousand and 571 dollars, an increase of 79% compared to cash sales, which amounted to 215 million and 915 thousand dollars."
He explained, "The sales went in the form of cash and transfers abroad to finance foreign trade, while the price of selling amounts of documentary credits and international settlements for electronic cards amounted to 1305 dinars per dollar, while the price of selling amounts of remittances abroad and the price of cash sales amounted to 1310 dinars per dollar."/
https://ninanews.com/Website/News/Details?key=1057434
Finance: Starting to implement the unified treasury account during the current month, to represent a quantum leap in the management of public funds
Saturday 03, June 2023 16:45 | Economical Number of readings: 682 Baghdad / NINA / - Minister of Finance, Taif Sami, directed the Accounting Department of the State's Financial Resources Department to start implementing the unified treasury account during the current month, to represent a quantum leap in the management of public money.
And the Ministry of Finance stated in a statement, "The department worked regularly to finance the salaries of the public sector for the month of May 2023, in addition to the department paying all the dues of market farmers for the 2023 season of wheat and rapeseed, and funding the Ministry of Electricity for paying the wages of the local investor."
She added, "In the field of supervising the financial matters carried out by all accounting units in the ministries and departments through the development of internal control systems in them, including the pre- and post-disbursement control, the department has initiated during the current month audit operations that included several bodies, including the customs and tax authorities, in addition to Civil Aviation Authority./ https://ninanews.com/Website/News/Details?key=1057462
The High Exchange Rate Of The Dollar In Iraq
Economy| 03/06/2023 Baghdad - Mawazine News The exchange rates of the dollar recorded, on Saturday, a slight increase in the local markets in Iraq.
And the sale of 100 dollars was recorded for 148 thousand dinars, and the purchase price was 146 thousand dinars for every 100 dollars. https://www.mawazin.net/Details.aspx?jimare=228271
The Central Bank Clarifies Its Procedures Regarding The Shift Towards Electronic Payment
Information / Baghdad... Today, Saturday, the Central Bank of Iraq confirmed that great efforts have been made to accelerate the use of electronic payment and its circulation, while
indicating the conclusion of contracts to adopt payment tools in financial transactions.
The Deputy Governor of the Central Bank, Ammar Khalaf, said to the official agency and his follow-up / information /, that
"there are great efforts by the Central Bank in cooperation with banks and electronic payment companies; to accelerate the use of electronic payment tools in the Iraqi economy." Khalaf added,
"There are ministries that have started, now and gradually, to enter into the electronic payment project," noting that
"the project needs systems before launching the electronic collection or collection process, and
there is a need for proactive arrangements of electronic systems and infrastructure."
He pointed out, "There are many contracts made by collection institutions, especially governmental ones, to adopt electronic payment in financial transactions," adding,
"We believe that by the end of this year, there will be a noticeable change and increase in the number of payment devices and the willingness of citizens to use them.
We have instructions that guarantee the rights and obligations of all parties involved in the matter of electronic payment.
On the first of June, the electronic payment process was launched in government institutions and the private sector.
https://almaalomah.me/news/local/البنك-المركزي-يوضح-اجراءاته-بشأن-التحول-نحو-الدفع-الالكتروني
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