Iraqi News Saturday Afternoon 5-21-22
Iraqi News Saturday Afternoon 5-21-22
TLM724 Administrator BondLady’s Corner
Finance Minister: We Have Plenty Of Money And We Rule Out Resorting To Borrowing
Finance Minister Ali Abdul-Amir Allawi ruled out resorting to borrowing, and revealed the size of the surplus from selling oil. Allawi said in an interview with Al-Arabiya TV that "Iraq will have a surplus of the difference in selling oil, up to 20 billion dollars," stressing that "in light of the current financial abundance, it is unlikely to resort to borrowing."
He added that "Iraq has begun to feel the positive effects of changing the dollar exchange rate," noting that "the 2021 budget is unable to cope with economic fluctuations."
Allawi explained that "the Food Security Law aims to address the rise in global markets," noting: "The ministry is committed to the decision of the Federal Court and that the court took its decision based on the concept of judges and away from any pressure."
He added, "The law submitted by Parliament is similar to the Food Security Law presented by the government," stressing that "there are alternative plans in case the Security Law is not legislated in Parliament."
He noted that "the political blockage is behind the failure to pass the budget law," noting that "the Kurdistan region did not hand over any revenues to the federal government, whether related to the export of oil or the ports, and that the position of the Federal Court on the region's oil is constitutional and legal." https://www.radionawa.com/all-detail.aspx?jimare=29562
Alia Nassif: The Food Security Law "Puts Poison In Honey" And There Are Alternative Mechanisms That Can Be Taken
Saturday 21 May 2022 10:03 | political Number of readings: 205
Baghdad / NINA / - Representative of the State of Law coalition, Alia Nassif, confirmed: "The House of Representatives can instruct the executive authorities, including the Ministry of Finance, to take alternative mechanisms to the Food Security Law, which "puts poison in honey," as she put it.
She said in a statement that: “In the event the law is passed, it will open many doors to corruption and benefit from parties that lament over the citizen,” stressing: “Among the measures that the Ministry of Finance can take is lending to public companies affiliated with the ministries of commerce, electricity, labor and social affairs, and allocating additional amounts outside the 12/1 ratio to support The ration card, the social protection network, the agricultural sector and all areas that improve the lives of the poor.”
And she added: "If there is a real will to end the suffering of the poor and improve their standard of living, there are several areas to achieve this goal, including lending to public companies in accordance with Article 17 of Public Companies Law No. 22, not exceeding 50 percent of their capital, and therefore it is possible to lend to the electricity sectors and companies. affiliated to the Ministry of Commerce and concerned with supply items, and the Ministries of Agriculture, Industry, Labor, Social Affairs, and others.
Nassif continued: "There is another alternative, since the Ministry of Finance can exceed the exchange limits stipulated in the Financial Management Law, with evidence that it sent 200 billion dinars to the Kurdistan Regional Government in March 2022, although it was not mentioned in the actual spending for the month of March of 2021 because The ministry started sending the amounts since July 2021 and reached at the end of last year to a trillion dinars.
The Ministry of Finance should do the same and allocate additional funds outside the 1/12 ratio to support the ration card, increase its vocabulary and improve its type, support the social protection network and enhance food security through increasing Strategic storage of wheat and support for farmers.”/ End https://ninanews.com/Website/News/Details?Key=977397
The Cabinet Announces The Arrival Of A New Package Of Electronic Services Covering Various Sectors
Iraq Saturday, May 21, 2022 4:53 PM National News Center/ Baghdad The National Data Center, in the General Secretariat of the Council of Ministers, announced, on Saturday, that the number of services it provides, through the Ur electronic portal for government services, has reached (94) electronic services for various sectors.
A cabinet statement, seen by the National News Center, stated, "The General Secretariat seeks to simplify government procedures and reduce time in completing transactions for citizens, and to complete the stages and steps of intensive work in the e-governance program."
The statement added, "Accordingly, citizens can use these services by entering the portal at the following link: Ur electronic portal for government services (ur.gov.iq)
Citizens can also call the free phone number (5599), which is available seven days a week, from (Cool am to (12) midnight, to inquire about the mechanism of using the portal.”
Brent Ends The Week's Trading At $112.55 A Barrel
Energy Economy News-Baghdad Oil prices rose, as a planned European Union ban on Russian oil and an easing of COVID-19 lockdowns in China countered fears that slowing economic growth would hurt demand.
Brent crude futures ended Friday's session, up 0.46% at $112.55 a barrel, while US NYMEX crude rose 0.35% at $110.28 a barrel.
Brent crude rose on a weekly basis by 0.9%, after declining by 0.75% in the previous week, while US crude recorded a weekly decrease of 0.19%.
The International Monetary Fund urged Asian countries to be aware of the indirect risks resulting from monetary tightening.
Despite rising fuel prices, Americans are consuming more fuel, according to a report by the Federal Highway Administration on vehicle mileage.
The European Union hopes to conclude an agreement related to a proposed ban on imports of Russian crude that includes exemptions for EU countries most dependent on Russian oil, such as Hungary, according to Reuters.
On the other hand, Iran is facing more difficulty in selling its crude oil after the availability of more Russian barrels now with Iran's crude exports to China declining strongly since the beginning of the Ukraine war, as Beijing imports low-priced Russian oil.
10 . views Added 05/21/2022 - 10:59 AM Update 05/21/2022 - 4:06 PM
Investment Authority: Karbala Is The Least Reluctance Of Projects In The Provinces
Reconstruction and building Economy News-Baghdad The head of the Investment Authority, Suha Daoud Al-Najjar, confirmed today, Saturday, that the Holy Karbala Governorate is one of the least reluctance in projects.
Al-Najjar said in an exclusive statement to the Iraqi News Agency during her visit to the holy governorate of Karbala and her meeting with Governor Nassif Al-Khattabi: "The Holy Karbala succeeded in the field of investment, and this is the result of cooperation between the local government and the Karbala Investment Authority," pointing out that there is a clear diversity of projects between residential, service, industrial and agricultural projects. ".
She explained that "this economic diversification is an economic base that Iraq needs," noting "the necessity of completing projects on time, especially since Karbala is one of the least provinces in terms of reluctance in projects."
She added, "Last year, projects were awarded and referred, which will add nearly three thousand megawatts of electrical energy," noting that "the great station in the holy Karbala is the station that feeds the Karbala refinery, and the other station is the solar power station, and it will be accomplished by the company ( Skatek) in alliance with (Al-Bilal Iraqi Group) and (Orascom) company.
She pointed out that "the two projects are of equal importance because they will increase the volume of production, which will supply the electrical system with a large amount of energy."
11 . views Added 05/21/2022 - 12:33 PM Update 05/21/2022 - 5:24 PM
https://economy-news.net/content.php?id=28092
Choosing "Ziad Khalaf Abd" As A Representative Of The Iraqi Banking Sector In The Union Of Arab Banks
Fri, 20 May 2022 6:20 PM National News Center/ Baghdad.. The Union of Arab Banks, which is affiliated with the joint work in the League of Arab States, announced, on Friday, the selection of the Chairman of the Board of Directors of the International Development Bank, Eng. Membership of the World Union of Arab Bankers.
The union stated in a statement received by the National News Center that "engineer Khalaf participated in the work of the first session of the new board of directors headed by (Mohamed El-Etreby), president of the Federation of Egyptian Banks, during the work of the Arab Conference for 2022, which was held in Cairo."
Eng. Khalaf expressed his thanks for renewing the confidence granted to him by the union, and affirmed his readiness to work on providing the capabilities of the Union of Arab Banks in serving the Iraqi banking sector. https://nnciraq.com/129306/
To read more current and reliable Iraqi news please visit BondLady’s Corner: