Iraqi News Tuesday Evening 6-28-22

TLM724 Administrator BondLady’s Corner

Economist: The Ministry Of Commerce Did Not Provide A Suitable Platform To Reduce The Exchange Rate Of The Dollar

Economic  Last update 06/29/2022 | Information / Baghdad...  The economic expert, Dr. Mustafa Akram Hantoush, stressed that the current situation does not allow to re-reduce the exchange rate of the dollar and return it to its previous era,

pointing out that the Ministry of Trade and because of corruption does not have the ingredients to re-lower the exchange rate and address the consequences of that.

Hantoush told "The Information",

"It is impossible to restore the dollar exchange rate to its previous position,

especially since Iraq does not have

a Ministry of Trade that has central markets,

an effective strategic storage and

a large dealership circle, so that it addresses the consequences of changing the exchange rate in a way that does not cause any harm to the citizen." He added that

"the central markets and the corruption of the Ministry of Commerce will divert these markets for investment and sale and put bribery in the pockets of officials of the Ministry of Commerce,

in addition to the fact that the government's merchants circle is present in other countries,

while there is no such episode in Iraq, especially since the government is working against the merchant." And he indicated that

"returning the exchange rate needs an effective Ministry of Trade to deliver the citizen to the new rate,

but under the current ministry, corruption dominates the scene and the money goes into the pockets of merchants and spoilers."   https://almaalomah.me/2022/06/29/606010/

OPEC: Iraq Has The Fourth Largest Oil Reserves In The World

Economic      Last update 06/29/2022 | Information/Baghdad:  The Organization of the Petroleum Exporting Countries announced, on Wednesday, that Iraq possesses the fourth largest proven oil reserves in the world.

The organization stated in a report, that "the proven crude oil reserves in the world amounted to 1.545.071 trillion barrels at the end of 2021," indicating that

"OPEC's share of these reserves amounted to 1,241.819 trillion barrels."

And it added that

"Iraq ranked fourth globally in the largest proven reserves in the world, with 145.019 billion barrels, after

Venezuela, which came first, with 303.468 billion barrels, while

Saudi Arabia came second, with 267.192 billion barrels, and

Iran came third with 208.600 billion barrels."

The organization indicated that

“the countries of the Middle East have the largest reserves in the world, with 869.612 billion barrels, thanks to the reserves of Saudi Arabia, Iran, Iraq, Kuwait and the UAE, while

Latin America came second, with 329.481 billion barrels, thanks to the reserves of Venezuela, while

Africa came third, with 120.210 billion barrels, thanks to Libya.” and Nigeria.” finished/25

https://almaalomah.me/2022/06/29/606045/

Kurdistan Issues A Statement Regarding The Work Of Its International Oil Companies

Political | 07:39 - 06/28/2022  Kurdistan - Mawazine News   The Ministry of Natural Resources in the Kurdistan Region announced, on Tuesday, that “the violations committed by the Iraqi Oil Ministry did not and will not affect the exploration and production of oil and gas in the region,” noting that

it did not push the companies working in this field to stop their work.

The ministry said in a statement that Mawazine News received a copy of it, that

"the oil and gas sector in the Kurdistan Region has taken great and important steps towards institutionalization and attracting major international companies, and

thus the region's position on the global energy map is getting stronger." She added,

"The advent of major companies (oil, gas and oil services) and the expansion of investment and the continuation of their work in the Kurdistan Region are clear and clear evidence of the successful policies and strategies of the Kurdistan Regional Government in the oil and gas sector."

And the ministry continued,

"Even within the Kurdistan Region, oil revenues played a major role in

securing salaries and

continuing to provide services, as well as

using natural gas products to provide fuel for power plants, in addition to

securing hundreds of job opportunities for young people in oil and gas fields and companies."

And she went on to say that

"stability, security, plans and policies of the ninth cabinet in the Kurdistan Region regarding the oil sector and the transparency of this important sector are all things that made those who hate the Kurdish and Kurdistan people dislike these achievements, by continuing their hostile plans, issuing unconstitutional and political decisions and launching missile attacks."

The ministry explained that

"their latest attempts and plans were to issue an illegal decision far from the constitutional articles and clauses by the Iraqi Oil Ministry in the absence of (the oil and gas law by the federal government), and to put pressure on companies operating in the oil and gas field to leave the Kurdistan Region," stressing That

"this step by the Iraqi Oil Ministry is inconsistent with the

constitution, the

law, the

principle of federalism, the

economic mentality, and the

relations between the region and Iraq."

She stressed that

"these new violations by the Iraqi Oil Ministry did not and will not affect the exploration and production of oil and gas in the Kurdistan Region, but did not prompt the companies to stop their work as well," noting that

"the use of the language of threat and hostility is a flagrant violation of the rules of international investment protection, and

this behavior does not It is in any way in the public interest of the peoples of Iraq and Kurdistan, and

it also distorts Iraq’s reputation in international centers and puts question marks around it.”

https://www.mawazin.net/Details.aspx?jimare=197915

Resources: 3 Factors In The Upstream Countries Reduced The Flows Of The Tigris And Euphrates

Sweetened    Today, 18:54  Baghdad - INA - Amna Al-Salami   The Ministry of Water Resources clarified, today, Tuesday, the latest details of its discussions with the Turkish and Iranian sides regarding water quotas, while touching on 3 factors in the upstream countries that it said affected the flows of the Tigris and Euphrates waters.

The ministry's spokesman, Ali Radi, told the Iraqi News Agency (INA), that "the water file is very important as a result of the conditions of great scarcity due to the policies of the upstream countries, in addition to being affected by the issue of climate changes," noting that

"the file is directly related to water and food security.".

Radi added, "Negotiations over water with upstream and higher countries are not a result of today, but are long files for decades," noting that

"the file takes two important axes, between them, with regard to Iraq's main revenues, which are concentrated in the Tigris and Euphrates rivers, as well as revenues or rivers received from neighboring Iran.  He explained that

"the Euphrates River represents 100% of its revenues from Turkey, passing through Syria and then to Iraq.

As for the Tigris River, approximately 40-45% of its revenues come from the Turkish side, and the remaining percentage is revenues from inside Iraq, and

the most important and influential percentage is from Iran." He pointed out that

"this picture shows that the largest proportion of Iraq's water revenues from outside the borders are from upstream countries." He pointed out that

"the upstream and higher countries have greatly

expanded in the construction of reservoir dams as well as their irrigation projects, which has caused a decrease in Iraq's water revenues, as well as the

large population growth taking place along the river basin, especially in the regions of the upstream countries, and these two factors affect water flows."  He pointed out that "the

third factor that caused the lack of revenues is the natural factor represented by climatic changes and global warming, as well as the lack of rain and weak snow cover, which negatively affected the percentage of revenues," stressing that

"Iraq is the most affected country as a downstream country."

He noted that "Iraq has always emphasized in its negotiations the need to share the damage, especially in periods of water scarcity," noting that

"we are still waiting for the Turkish side to implement the promises that were agreed upon during the visits, including the establishment of a research center and the signing of a protocol related to water launches in Degla river".

On the Iranian side, Radi said, "There is a lack of revenues from the main rivers or the main sources of nutrition in the Lower Zab, Sirwan and Diyala River, which has caused a decrease in water reserves, especially in Diyala Governorate, which was greatly affected in addition to Wasit Governorate and down to the Shatt Al-Arab."

He expressed his hope that "the coming period will witness the resumption of these meetings to guarantee Iraq's water rights, whether with Turkey or with Iran."    https://www.ina.iq.translate.goog/159606--3-.html

Saleh: Iraq Imports 70% Of Eggs And Chicken

Economic      Last update 06/27/2022 |  Information/Baghdad.  Adviser to the Prime Minister, Mazhar Muhammad Salih, revealed, on Monday, that Iraq imported 70% of its needs of eggs and chicken from abroad, noting that

the global inflation crisis has greatly affected Iraq.

Saleh said in an interview seen by / the information /, that "the global inflation crisis has greatly affected Iraq, as it imports the items of the ration card, which represent basic commodities for the citizen by 90 percent," noting that

"the rise in prices globally negatively affected the state.".

He added, "The poor classes depend on the ration card items equivalent to 80 percent of their income, which the government is forced to provide despite the great financial burden to avoid nutrition problems and the increasing area of poverty and famine."

And Saleh added, "The government also provides financial support for agricultural production supplies of fertilizers and seeds, as well as materials for producing eggs and chickens, of which Iraq imports 70 percent of them from abroad," noting that

"it has taken another measure represented in zeroing the cost of taxes from duties and customs on goods."

For a period of six months, renewed every three months, which contributes to absorbing a large part of inflation and price increases.”

He pointed out that "the energy crisis is no less dangerous than the food crisis, for without government support for oil derivatives, especially gasoline, a large part of which is imported daily despite its high prices globally, great problems would have occurred, stressing that

"the state kept the prices of its services fixed to confront inflation in all its forms.“.

https://almaalomah.me/2022/06/27/605637/

Parliamentary Agriculture: The Agricultural Sector Received A Painful External Blow, Which Contributed To Its Loss

Sunday, June 26, 2022 11:02 PM  National News Center/ Baghdad..  The head of the Parliamentary Agriculture Committee, Thaer Mekheifa, confirmed today, Sunday, that

there is an external will working to zero the agricultural sector in the country.

In an interview with the National News Center, he said,

“There is an external will working to zero the agricultural sector in Iraq in general and the southern governorates in particular,” noting that

it “seeks to make Iraq a consumer country, not a producer.”

He added that "the agricultural production factors of pesticides, fertilizers and water received a strong blow from some external parties to stop the production wheel permanently."

He pointed out that

"the production factors of pesticides and fertilizers increased significantly, which led to the formation of the agricultural movement in the south and the trend towards other sources, which was the cause of the increase in local market prices."   https://nnciraq.com/137493/

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