Iraqi News Wednesday Afternoon 4-13-22
Iraqi News Wednesday Afternoon 4-13-22
TLM724 Administrator BondLady’s Corner
Al-Kazemi calls on the political forces to work seriously to prepare the 2022 budget law
Prime Minister Mustafa Al-Kazemi called on the political forces to work seriously to prepare the 2022 budget law, while stressing that the government has taken important decisions to deal with the rise in food prices.
And a statement issued by the Prime Minister’s Media Office, which highlighted what he spoke during the cabinet session, quoted, “Before the month of Ramadan, we took decisions in the interest of citizens and confronting the rise in food prices that all countries of the world witnessed due to the Russian-Ukrainian war, and the government assumed responsibility for making difficult decisions; In order to protect the citizen and maintain prices.”
He added, "Unfortunately, some ministries have taken decisions that have negative repercussions on the life of the citizen. The ministers, when they make any decision, put the interest of the citizen. Yes, the state needs financial revenues, but that the citizen is not the victim in such decisions."
He stressed, "We have taken a set of decisions to confront the crisis of rising international prices, including opening imports, and this decision was issued by the Council of Ministers, and it is obligatory to implement it by the relevant ministries and to stay away from personal judgments at the expense of citizens."
He stressed that "the ministers must abide by all cabinet decisions that concern the life of the citizen, as this matter is not subject to discussion or subject to personal interests or the influences of influence groups. that are related to the life of the citizen.
The Prime Minister said: "We held several periodic meetings with officials in the Ministry of Electricity and the rest of the ministries in order to overcome the obstacles to providing electric power to citizens next summer, and there is a special committee to follow up on the electricity file. Our directives to the ministers are to cooperate in this field, to cross any potential electricity crisis." .
He pointed out that "there is a heavy legacy of tampering with the strategic plan to provide electricity and fuel, and we succeeded last summer in crossing it, and we are currently working to provide funds and all that is required for the process of securing electricity, including what we presented to the House of Representatives within the Food Security Law."
He expressed his hope that the Food Security Law would be passed according to the government's vision to run the country's affairs, due to the presence of many requirements, especially with regard to electricity, and we are approaching the summer season, and what it requires to provide fuel and secure the needs of citizens. Failure to provide funds will lead to an electricity crisis, and we hope that the brothers in Parliament will understand this matter and support the government in providing for the needs of citizens by passing the law in a way that does not affect the essence of the law.”
Al-Kazemi renewed his affirmation to the security services, National Security, and the Interior Intelligence to continue to monitor merchants and those who take advantage of crises to subsist at the expense of citizens’ livelihoods, and not to allow them to manipulate prices, and hold them accountable severely, and citizens must inform the security services about price manipulators.
Regarding the security file, the Commander-in-Chief of the Armed Forces indicated, "During the past two weeks, we have held continuous security meetings to monitor the security situation, and to follow up on terrorist groups that are trying to gain a foothold or a media activity to prove their presence."
He added, "Our heroic security forces are making a great effort to limit these operations, and they continue to pursue terrorist gangs. We have proactive operations and intelligence efforts to track them down, and we will carry out major operations very soon to pursue the remaining remnants of terrorism."
On the other hand, he continued, "Our directives are to ministers, agents, and general managers to listen to citizens' complaints, to take to the streets and to be close to citizens."
With regard to the budget file, the Prime Minister said: “I hope the political forces will work hard to agree on a formula to form the government, carry out their duties, work on preparing the 2022 budget, and fulfill their obligations towards citizens. task to overcome challenges.
https://www.radionawa.com/all-detail.aspx?jimare=28987
Wadih Al-Handal: The Initiatives Of The Central Bank Revitalized The Iraqi Economy And Occupied Thousands Of Citizens
Money and business Economy News – Baghdad The head of the Association of Iraqi Private Banks, Wadih Al-Handal, praised, on Wednesday, the development initiatives of the Central Bank, amounting to 15 trillion dinars.
Al-Handal said in a tweet that "the development initiatives launched by the Central Bank , totaling 15 trillion dinars, contributed to revitalizing the economy, creating a national industry, and employing thousands of citizens."
He considered it "a gesture of hope to support national production and the private sector despite the great challenges." Views 9 Date Added 04/13/2022 https://economy-news.net/content.php?id=27582
Market Research: The Rise In The Dollar Exchange Rate Is Easy To Manipulate Prices
Posted On2022-04-13 By Sotaliraq Baghdad: Omar Abdul Latif The Center for Market Research and Consumer Protection considered manipulation of citizen's power an "organized crime", calling for opening outlets that provide subsidized goods. The director of the center, Dr. Yahya Kamal Al-Bayati, said: The change in the exchange rates of the dollar led to a change in the prices of all goods, not just foodstuffs, indicating that the market witnessed stability when the exchange rate reached 120 thousand dinars per 100 dollars.
Al-Bayati added that the rise in the exchange rate granted some weak-minded people the right to manipulate the markets, noting that the dollar rose by 18 percent, while the prices of goods in the markets increased by more than 25 percent. Al-Bayati promised the manipulation of the citizen's strength by some traders as an "organized crime", noting that this rise resulted in major problems, after the employee's salary was controlling the market and its decline.
Al-Bayati stressed the need to monitor the markets periodically by the competent authorities in the Ministries of Interior and National Security and the Standardization and Quality Control Authority of the Ministry of Planning, calling on local authorities to open government outlets that provide subsidized goods for employees and earners. LINK
A Slight Decrease In The Exchange Rates Of The Dollar In The Local Market
Economie| 09:18 - 13/04/2022 Baghdad - Mawazine News Today, Wednesday, the dollar exchange rates witnessed a relative decrease in the Iraqi local markets, as shown below:
Baghdad Sale 148.250 dinars Buy 147.250 dinars
North Sale 148.250 dinars Buy 147.250 dinars
South Sale 148,500 dinars Buy 147,500 dinars
https://www.mawazin.net/Details.aspx?jimare=190052
The Central Bank: There Is No Such Thing As The Libyan Dollar
Banks Economy News – Baghdad Today, Wednesday, the Central Bank confirmed the absence of the so-called (Libyan dollar currency), warning against taking legal measures for anyone who trades or promotes such counterfeit notes.
A statement by the Central Bank stated, "What is being circulated on social media with the presence of the Libyan dollar currency is nothing more than a scam and fraud using counterfeit currencies."
The statement added, "The Central Bank reserves the right to take legal measures against anyone who trades or promotes such counterfeit papers, in coordination with the competent authorities."
He pointed out that "the measures taken by the Central Bank in this regard aim to ensure the safety of the financial and banking sector in Iraq, and to protect the rights of citizens from fraud and fraud."
It is worth noting that the Central Bank of Iraq had warned on 7/26/20/2020, of fraud and swindling operations that the weak-minded might practice in this field. Views 21 Date Added 04/13/2022
https://economy-news.net/content.php?id=27578
The Contribution Of Oil To The Iraqi Budget Rises To 94%
Posted On2022-04-13 By Sotaliraq The Ministry of Finance issued the Iraqi state accounts for the month of January for the fiscal year 2022, which indicated a decline in the contribution of the non-oil sectors to 6%, while an economic expert attributed this to the rise in global oil prices.
The data and tables issued by the Ministry of Finance in the current month of April for the accounts of last January, which showed that oil is the main resource for Iraq’s general budget, as it rose by 5.62% from last December, bringing the contribution of oil to the general budget to 94%, after it was 89% in December The first is the past, which indicates that the rentier economic system is the basis of its general budget.
Through the financial tables, it is indicated that the total oil revenues for the month of January amounted to 10 trillion and 899 billion and 415 million and 915 thousand and 534 dinars, which represents 94% of the total revenues, while the total non-oil revenues amounted to 695 billion and 872 million and 729 thousand and 30 dinars. 6% of the total revenues, while the total oil and non-oil revenues amounted to 11 trillion and 595 billion and 288 million and 644 thousand and 554 dinars, which is 144% higher than the same period last year 2021, which amounted to 4 trillion and 744 billion dinars as a result of high oil prices.
According to the finance report, the non-oil revenues for the month of last January came from the current revenues represented by oil revenues and mineral wealth, amounting to 10 trillion, 853 billion and 496 million and 795 thousand and 32 dinars, and it came from taxes on income and wealth at 41 billion and 18 million and 559 thousand and 210 dinars.
And it also came from commodity taxes and production fees at 63 billion and 996 million and 115 thousand and 583 dinars. It also came from fees that amounted to 102 billion and 631 million and 746 thousand and 567 dinars and from the share of public sector profits of 46 billion and 57 million and 257 thousand and 389 dinars and from transfer revenues that amounted to 387 billion and 244 million and 110 thousand and 958 dinars and from other revenues of 95 billion and 908 million and 666 thousand and 186 dinars.
It also came from capital revenues, which amounted to 4 billion and 935 million and 393 thousand and 6280 dinars.
For his part, the economic expert, Hilal Al-Tahhan, said in an interview that “the rise in global oil prices was behind the increase in the proportion of oil’s contribution to the federal budget at the expense of non-oil revenues during the month of January,” noting that “this rise does not mean a decline in non-oil revenues in its contribution to the economy.” budget.”
He added, "The non-oil revenues remain unchanged, the main reason behind the decrease in their percentage in the budget compared to the rise in oil prices, whose rise exceeded more than 50% compared to what was recorded in the same period last year."
He pointed out that "the process of transformation from the rentier economy needs a complete development of the Iraqi economy through operating the production process in Iraq and developing the backbone of the economy from agriculture and industry, which is still underdeveloped and its low contribution, which does not contribute more than 2 to 4 percent of the gross domestic product," adding that "Iraq still depends in the provision of goods and merchandise on the foreign importer, at a rate of more than 90 percent."
The Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021 in an interview that the reasons for the economy’s survival as rentier are due to wars and the imposition of sieges during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.
He pointed out that "development, stability, diversification of the economy, and the transition from a rentier economy require political stability and stable institutions, which is what the state has missed over the years."
The state’s continued dependence on oil as the only source of the general budget makes the country at risk from global crises that occur from time to time due to the impact of oil on it, which makes Iraq tend every time to cover the deficit by borrowing from abroad or inside, which thus indicates the inability to manage funds The state effectively, and the inability to find alternative financing solutions. LINK
Oil Prices Fall Due To Rising US Inventories
Economie| 08:25 - 13/04/2022 Baghdad - Mawazine News Oil prices fell, today, Wednesday, due to the increase in US stocks and the release of reserves by consuming countries, but fears that the decline in production in Russia, the second largest oil exporter in the world, limited the decline in prices significantly.
Brent crude futures fell 26 cents, or 0.25 percent, to $104.38 a barrel by 05:06 GMT, while US West Texas Intermediate crude futures fell 38 cents to $100.22 a barrel. Both contracts jumped more than 6% in the previous session.
US oil inventories rose by 7.8 million barrels last week, according to the American Petroleum Institute report released on Tuesday, but this did not affect the optimism in the energy market. Ended 29 / 92
https://www.mawazin.net/Details.aspx?jimare=190044
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