Iraqi News Saturday PM 11-13-21
Iraqi News Saturday PM 11-13-21
TLM724 Administrator BondLady’s Corner
Iraq Expects Its Oil Exports To Rise In 2022
Posted On 2021-11-13 By Sotaliraq On Saturday, Iraqi Oil Minister Ihsan Abdul-Jabbar expected the country's crude exports to rise during the first quarter of next year, stressing at the same time that OPEC is not seeking to raise or lower crude prices by increasing production.
Abdul-Jabbar said that "during the first quarter of 2022, Iraqi exports will reach three million and 400 thousand barrels per day, which is our share in the oil market."
He added, "OPEC is not working to raise or lower oil prices by gradually increasing productivity, but rather works to achieve stability in the energy market."
And he indicated that "the current decision agreed upon in OPEC is a gradual increase of 400,000 barrels per day, and perhaps during the first quarter of 2022 there will be another discussion for the organization."
Abdul-Jabbar stressed that "Iraq is considered the second exporter of oil and is committed to the decisions issued by the Organization of Petroleum Exporting Countries," adding that "Iraq is committed to decisions and exports and does not exceed its specified quota and does not request an exception to achieve stability in the energy market." LINK
Iraq Participates In The Annual Conference Of The European And Asian Capital Markets Association
Economie| 11:38 - 13/11/2021 Baghdad - Mawazine News Chairman of the Securities Commission, Faisal Al-Haymes, participated in the annual conference of the Association of European and Asian Capital Markets, held in Yerevan, capital of the Republic of Armenia.
The head of the Securities Commission said in a speech he delivered during the conference, which was followed by / Mawazine News /, that "organizing such conferences creates a great environment for the development witnessed by the stock markets at the regional and global levels in light of the technology boom of financial services, which is reshaping the structure of various business sectors." It radically changed the way investors work within stock exchanges and trade in securities.”
He pointed out that "the authority has made important achievements during this year to enhance its position as an ideal destination in the markets, by launching trading on 8 companies that were suspended, and increasing trading hours that doubled the number of investors, in addition to the value of trades, which amounted during the second half of this year to 378 billion" dinars compared to 17 billion dinars for the same period last year, and the traded shares increased to 373 billion shares, compared to 24 billion shares during the second quarter of last year, an increase of 1393% with the establishment of a mechanism to protect investor data and encrypt their information and prevent its leakage.
The head of the authority stressed, "Continue to work alongside all government agencies in Iraq to contribute to achieving the goals of the vision set by the new administration of the authority over the next four years by strengthening the concept of trading in securities and supporting the national economy."
He continued, "We are working to establish the Custodian of the Two Holy Mosques Bank because of its positive financial and economic effects that will enhance the work of the stock market operating in Iraq, in addition to providing safety for investors, especially foreign ones, as well as increasing investment portfolios."
The head of the commission met with the Armenian Minister of Economy, Han Karupian, and the President of the European-Asian Federation for Capital Markets, Dr. Mohamed Salah Farid.
The conference discussed revitalizing the financial market sector in the Asian and European regions and the possibility of providing low-cost financing to member states through money markets instead of traditional financing methods. Ended 29/B88 https://www.mawazin.net/Details.aspx?jimare=174766
Dollar Exchange Rates In Local Markets
Economie| 09:40 - 13/11/2021 Baghdad - Mawazine News The exchange rates of the dollar against the Iraqi dinar, Saturday, and according to the variables of the currency exchange market in the capital, Baghdad, and the country’s governorates.
In Baghdad: the selling price of the dollar 148,750 per 100 dollars,
the buying price of the dollar 147,750 per 100 dollars,
in the north: the selling price of the dollar 149,000 per 100 dollars,
the buying price of the dollar 148,000 per 100 dollars, and
in the south: the selling price of the dollar 148,750 per 100 dollars,
the buying price of the dollar 147,750 per 100 dollar. Ended 29/b 88
https://www.mawazin.net/Details.aspx?jimare=174745
Government Financial Adviser: The 2022 Budget Will Be Free Of Financial Hardships
Economie| 10:43 - 13/11/2021 Baghdad - Mawazine News The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, announced on Saturday that the country’s external public debt has decreased to $20 billion, while stressing that the year 2022 will be free of financial hardships and financing restrictions.
Saleh said, in an interview followed by / Mawazine News /, that "Iraq's external public debt is in decline, and it is within the limits of 20 billion dollars, and the public budget bears the debt-amortization services according to set timings," noting that "the internal debt is still the largest at the present time." The external debt exceeds three times, but it remains confined to the government financial system exclusively, and is not related to the public.
He added, "Iraq is in recovery and will inevitably live in the next 2022 without financial hardships or financing restrictions, caused by a lack of revenues, due to the recovery of the energy market and the boom in demand for oil, as well as the increase in the proceeds of Iraq's oil production by 400 thousand barrels per day," noting that "This addition to the current total oil production and alone will generate an additional annual revenue estimated at about 17 trillion Iraqi dinars if the average price of a barrel of oil reaches $75."
He pointed out that "the issue depends on the total spending ceilings in the budget, and if it is assumed that the spending ceiling in the 2022 budget is the same in 2021, and that the average price of a barrel of oil achieved throughout the year is not less than $75, then the oil revenues will alone cover the total expenses." in the budget and achieve some surplus from the availability of other non-oil revenues.”
He continued, "This means that for the first time there will be a budget that achieves a financial surplus without the need to borrow, and if borrowing is achieved, it does not exceed 3% of the gross domestic product, which is stipulated in the financial management law in force due to ongoing construction projects whose financing is linked to international loans." He added: "In my estimation, it does not exceed 3 billion dollars per year, in addition to the construction loan whose bonds are offered for circulation to the public at a trillion dinars." Ended 29/b88 https://www.mawazin.net/Details.aspx?jimare=174756
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