Iraqi News Highlights Wednesday Afternoon 7-12-23
Iraqi News Highlights Wednesday Afternoon 7-12-23
Tlm724 Administrator Bondlady’s Corner
The IMF Expects Global Growth Of 3% In The Next Five Years
Wednesday 12, July 2023 10:26 | Economical Number of readings: 324 Baghdad / NINA / - The International Monetary Fund expects global growth of about 3 percent annually over the next five years, according to statements by Fund Director Kristalina Georgieva.
The fund manager's new expectations are much lower than the historical averages of around 3.8 percent, which could add pressure on capital inflows.
Speaking during a lecture on economics, Georgieva said governments, especially in emerging markets, would need to tighten fiscal policy to keep debt under control and curb high inflation.
She said that they will also face, in developing countries, further tightening in financial conditions with the continuation of inflation, explaining, "There may be an impact on capital flows."
It is noteworthy that the International Monetary Fund slightly lowered its forecast for global economic growth this year to 2.8 percent, compared to 2.9 percent in its forecast issued last January, and the Fund also lowered its forecast for global growth in 2024 to 3 percent compared to 3.1 percent in His predictions last January./ https://ninanews.com/Website/News/Details?key=1064530
Oil Stabilized After A Larger-Than-Expected Increase In US Crude Inventories
Wednesday 12 July 2023 09:16 | Economical Number of readings: 357
Baghdad / NINA / - Oil prices stabilized to a large extent in early Asian trading today, Wednesday, as hopes of increasing demand in developing countries and the world's largest oil exporters cutting supplies were offset by fears of an economic slowdown leading to a rise in US crude stocks.
According to Reuters: Brent crude futures fell four cents to $79.36 a barrel by dawn today, Wednesday, while US West Texas Intermediate crude fell one cent to $74.82.
Prices were pressured by the rise in US crude stocks by about three million barrels in the week ending July 7, according to data from the American Petroleum Institute. Analysts polled by Reuters had expected an increase in crude stocks by 500,000 barrels.
In the previous session, oil rose by about 2%, supported by the decline in the dollar and expectations of an increase in global demand for crude.
The International Energy Agency expects the current market tightness to continue in the second half of 2023, citing strong demand from China and developing countries as well as recently announced supply cuts, including by major exporters Saudi Arabia and Russia.
At the same time, the US Energy Information Administration expected, yesterday, Tuesday, that demand will exceed supply by 100,000 barrels per day in 2023 and by 200,000 in 2024. Markets are awaiting
US inflation data, today, Wednesday, in search of evidence of interest rate expectations, which could Its rise slows economic growth and reduces demand for oil./
A Slight Increase In The Exchange Rates Of The Dollar Against The Dinar In The Local Markets
Wednesday 12, July 2023 | Economical Number of readings: 408 Baghdad / NINA / - The exchange rates of the dollar against the dinar witnessed a slight increase in the stock market and local markets today, Wednesday.
Al-Harithiya and Al-Kifah Stock Exchanges recorded an exchange rate of 147,950 Iraqi dinars for 100 dollars.
The selling price of the dollar in exchange offices and local markets reached 148,750 dinars per hundred dollars, and the purchase price was 146,750 dinars per 100 dollars./ End 9
https://ninanews.com/Website/News/Details?key=1064540
The US State Department Comments On The Iraqi Deal With “Total Energies”: “A Giant Step”
Iraq Wednesday, July 12, 2023 Baghdad / National News Center The US State Department considered the deal concluded by the Iraqi government with the “Total Energy” company as a “giant step” towards energy independence and enhancing its security in the country.
State Department spokesman Matthew Miller said in a statement today: We support Iraq's efforts to achieve energy independence and improve service delivery.
He added that the Iraqi energy deal with Total Energies is a giant step towards enhancing energy security in Iraq and providing economic opportunities for all Iraqis. https://nnciraq.com/215858/
In The Table .. Central Bank Sales Of The Dollar Today
Economy Wednesday, July 12, 2023 11:59 am Baghdad / National News Center Today, Wednesday, the Central Bank of Iraq’s currency auction sales amounted to more than $231 million. https://nnciraq.com/215855/
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