Iraqi News Wednesday AM 8-19-20
Iraqi News Wednesday AM 8-19-20
TLM724 Administrator BondLady’s Corner
Representative Economy: Surprised By Al-Kazemi's Decision To Grant Kurdistan 300 Billion ... Where Is The Legitimacy?
Pratha News Agency38 2020-08-19 On Wednesday, a member of the Parliamentary Economic Committee, Representative Intisar Al-Mousawi, expressed surprise and surprise for her committee with the decision of Prime Minister Mustafa Al-Kazemi to grant Kurdistan more than 300 billion dinars, wondering about the legality of that.
Mousawi said in a press statement, "The government has stated more than once that it suffers from a very complex financial difficulty and that it received the treasury empty from the previous government, which prompted it to borrow to secure the salaries of its employees, and then we are surprised to give Al-Kazemi more than 300 billion dinars to the Kurdistan region, wondering where is the legitimacy in this decision?" “.
Al-Mousawi added that her committee “did not receive anything official about granting money to Kurdistan, but the latter granted huge sums of money, and problems are still hanging with it, especially crude oil revenues and border crossings,” he said, stressing how there will be a financial crisis and the government grants huge money to the region.
And the Al-Kazemi government granted the Kurdistan region more than 300 billion dinars during the past days, according to what some departments and official bodies have confirmed.
http://burathanews.com/arabic/news/374951
Parliamentary Committee Reveals The Biggest Corruption Scandal For The Kazemi Government
Pratha News Agency52 2020-08-19 On Wednesday, a member of the Parliamentary Services Committee, Abbas Yaber Al-Atafi, considered Prime Minister Mustafa Al-Kazemi's insistence on renewing contracts for mobile phone companies as "a continuation of the largest corruption operations."
Al-Atafi said in a press statement that "Al-Kazemi bears the responsibility of stealing the money of the Iraqi people by the telephone companies, indicating that the biggest corruption scandal the current government is going through."
He added that "there are signatures collected to hold the Al-Kazemi government accountable for renewing contracts for mobile phone companies and who are the parties behind the renewal of contracts."
Al-Atafi explained that “contract renewal is a continuation of one of the biggest corruption in the Al-Kazemi government,” stressing that “quite a few deputies are with accountability and accountability of the government for the loss of people's money.” http://burathanews.com/arabic/news/374948
Parliamentary Finance Decides To Adopt A New Mechanism For Allocating Salaries To Employees In The 2021 Budget
Pratha News Agency46 2020-08-19 A member of the Parliamentary Finance Committee, Ahmed Hama Rashid, revealed, on Wednesday, his committee’s intention to adopt a new mechanism in the 2021 budget with regard to employee salary allocations.
Rashid said in a press interview that "Iraq needs six billion dollars a month to cover the salaries of employees, but according to oil prices, what arrives monthly to the state treasury is four billion dollars, which means a deficit of up to two billion dollars per month that is covered by the current stage of one chapter, which is borrowing." The procedure, "idicating that" this situation has made the issue of delaying salaries a routine that is repeated more than once. "
Rashid added that "in light of the high oil prices and the improvement in imports of border crossings, this problem will be gradually addressed in the coming months," noting that "we will work in the 2021 budget to put in place an appropriate mechanism for salary allocations more than it is now."
http://burathanews.com/arabic/economic/374945
Mr. Ammar Al-Hakim Stresses The Automation And The Introduction Of Electronic Governance In The Departments Of The Ministry Of Justice
Time: 08/19/2020 11:24:24 Read: 1,924 times {Baghdad: Al Furat News} The head of the Iraqi coalition, Mr. Ammar Al-Hakim, stressed the automation and the introduction of electronic governance in the departments of the Ministry of Justice.
Al-Hakim said in a statement received by Al-Furat News that “during our meeting with the PUK delegation, in the presence of the head of the bloc, Joan Ihsan, and Minister of Justice in the Federal Government, Salar Abdul Sattar Muhammad, we discussed developments in the political scene in Iraq in addition to some issues related to the work of the Ministry of Justice, as we recalled The Arab-Kurdish relationship and the long journey from the dictator’s struggle and building the modern state.
Al-Hakim added, "We referred to an Iraqi coalition and its importance in restoring the citizen's confidence in the political system in Iraq. We said that it is an alliance that aims to support the state in all its tracks and its doors are open to the joining of those who believe in the path of the state and strengthening it."
Mr. Al-Hakim continued: "About the Ministry of Justice, we stressed the automation and the introduction of electronic governance in the departments of the ministry and the need to invest and develop the funds of minors as well as to take care of corrections and train their inmates and qualify them in a way that will restore them as actors in society. We also called for the use of modern methods in protecting prisons and training guards according to modern standards. LINK
Oil Prices Drop As Economic Concerns Increase
Time: 08/19/2020 12:28:02 Read: 1,547 times {International: Al Furat News} Oil prices fell today due to fears that demand for fuel in the United States may not recover as quickly as expected, in light of the faltering talks on a stimulus package for the economy. This overshadowed a more than expected drop in US oil inventories.
Investors' eyes are also directed towards the meeting of a ministerial committee of the "OPEC +" group, which is scheduled to review compliance with an earlier agreement on reducing oil production.
Brent crude futures fell 0.9% to $ 45.06 a barrel, after rising nine cents on Tuesday.
Whereas, US West Texas Intermediate crude futures fell by 0.8% to $ 42.55 a barrel. LINK
The Dollar Is On The Rise In Iraq
Time: 08/19/2020 10:20:17 Read: 4,732 times {Baghdad: Al Furat News} Today, the foreign currency markets in Iraq recorded a slight increase in the exchange rate of the US dollar against the Iraqi dinar.
The prices of selling and buying dollars in exchange companies and offices were as follows:
The selling price of one dollar was 1232.5 dinars, or 123 thousand and 250 dinars per hundred dollars.
The purchase price of the dollar is 1222.5 dinars, or 122 thousand and 250 dinars per hundred dollars.
Foreign exchange rates, gold and crude oil until the preparation of this news:
The euro The global price: 100 euros = 119.46 pounds
sterling The global price: 100 pounds = 132.37 dollars of
The Turkish lira World price: 100 dollars = 737.77 Turkish lira
The price of an ounce of gold worldwide = 1989.57 dollars,
The price of a barrel of Brent crude oil = 45.12 dollars,
The price of a barrel of US crude oil = 42.86 dollars. LINK
OPEC Plus Meets Today To Discuss Iraq's Commitment To The Production Cut Agreement
Energy Economy News – Baghdad OPEC Plus meets today, via video, to discuss the commitment of Iraq, Nigeria and Kazakhstan to the OPEC Plus agreement, which demands a reduction of 7.7 million barrels per day until the end of this year.
Saudi Arabia has been pressing Iraq over the past months to adhere to the OPEC Plus agreement, as Iraq's commitment during the month of July reached 85%. The share of Iraq during the first three months of the agreement includes a reduction of 1.065 million barrels, and from August to the end of the year the reduction includes 850 thousand barrels per day.
And Iraqi Oil Minister Ihsan Abdul-Jabbar admitted to reducing Iraq’s quota of 850,000 barrels per day in addition to 400,000 barrels per day due to its lack of commitment during the past months.
Reuters said, in news published today, that the OPEC Plus meeting will focus on the compliance of Iraq, Nigeria and Kazakhstan.
On the other hand, the oil expert, Walid Khadduri, said regarding the future (the second half of 2020), OPEC indicates that there is still concern about the outbreak of a second wave of the "Covid-19" pandemic and the possibility of an increase in global oil reserves. Therefore, the stock of petroleum products may rise again in the event of the return of the reduction in transportation by cars or air travel, which will affect the shrinking demand for transportation fuels such as petrol, diesel and aviation fuel.
He added that, according to OPEC, this matter requires continued cooperation between exporters to strike a balance in supply and demand in order to stabilize prices, in order to restore the activity of the global economy.
Number of observations 39, date of addendum 19/08/2020 https://economy-news.net/content.php?id=21501
The Region Demands A Larger Share, And Al Kaabi Reminds The Government Of A Lack Of Resources
Reports Economy News – Baghdad On Wednesday, Deputy Speaker of Kurdistan Parliament, Hayman Hawrami, expressed his surprise at the statements made by the First Deputy Speaker of Parliament, Hassan Al-Kaabi, regarding the recent agreement between Erbil and Baghdad, indicating that Baghdad sent less than half of what the Kurdistan Regional Government pays in salaries. Rolling Eyes
The First Deputy Cabinet had called on the federal government to assume legal and moral responsibility towards the people in accordance with the principle of justice, equality and the public interest of the state with regard to the disbursement of the region's dues.
Hawrami said in a statement seen by "Al-Eqtisad News", that "the principles of the constitution are the basis for dealing with any outstanding problems between the Kurdistan Regional Government and the federal government, which has not fully paid the region’s financial dues for many months, which has placed many heavy burdens on citizens in the region." The region, while ignoring the principle of justice, equality and the public interest. "
According to Hawrami, the recent agreement between Erbil and Baghdad, although it is temporary, paves the ground for a long-term agreement within the framework of the constitution, something that “everyone should support, not fight,” and that the agreement included unifying the procedures of border crossings, customs and other points that Baghdad raised during Conversations. "
On Monday, the Ministry of Finance confirmed its commitment to its constitutional duties in economic and financial reform and public financial management, including its obligations towards the Kurdistan Regional Government, without the existence of the draft federal budget law for 2020.
He pointed out that "sending 320 billion dinars per month is less than what Baghdad used to send, and that the aforementioned amount is for three months, and this amount has been allocated according to data that the 2020 budget has not yet been approved, and it is a number based, according to the agreement, on the federal government's estimates of salaries that The region will pay it to those who collect it, with estimates given on oil and non-oil imports. "
Hawrami pointed out that the region did not reject any mechanism for auditing and controlling revenues under the constitution, calling for the necessity of "not misleading public opinion and trying to overturn the facts and conceal the fact that employees' entitlements have not been paid in the Kurdistan Region for four months, which is one of the constitutional duties of the federal government."
In turn, the First Deputy Speaker of Parliament, Hassan Karim Al-Kaabi, called on the Council of Ministers to assume legal and moral responsibility towards the people in accordance with the principle of justice, equality and the general interest of the state, calling on the Kurdistan Regional Government to end the file of handing over its revenues to Baghdad, considering that this file places many and heavy burdens on the Baghdad government And our people in the region.
"The 2019 budget passed through exceptional circumstances, as discussions were held between the federal government and the Kurdistan Regional Government aimed at concluding a final agreement with the region to reach a solution related to the delivery of oil exported from the region to Baghdad," Al-Kaabi said in a statement.
Al-Kaabi asked, "In any right or legal cover, the monthly amounts are handed over to the Kurdistan government without auditing the financial control, and the oil revenues and other revenues collected in the region are handed over to the Federal Ministry of Finance after the end of the 2019 budget law."
Al-Kaabi expressed, "his surprise at the talks and discussions between the regional government and the Al-Kazemi government, which ended with a decision whereby the regional government was handed over 320 billion dinars without handing them over to the taxes and fees collected, the resources of the border crossings, airports and the exported oil revenues to the federal government."
The First Deputy pointed out, "The Council of Ministers, in one of its previous sessions, issued a decision to grant the Iraqi Ministry of Health and the afflicted Dhi Qar Governorate an amount of 50 billion dinars to fill the shortfall in the needs of facing Corona and the urgent requirements of the Iraqi people, but the lack of cash led to lack of funding The Ministry of Health and Dhi Qar, wondering how to spend 320 billion dinars for the regional government in light of these critical conditions that our dear governorates suffer from.
On Saturday (August 15, 2020), the federal government agreed to unify the procedures of the air, sea and land border crossings, agree on customs accounting, and install a technical team of government employees to monitor the implementation of the agreement, and the agreement also included unifying customs procedures and ports in the Kurdistan Region with government outlets.
And setting up accounting systems to fulfill the customs imports collected at the outlets of the Kurdistan Region and dispose of them in accordance with Federal Financial Management Law No. (6) of 2019, as well as setting controls that the two parties are obligated to control the entry of import materials into Iraq, and the two governments are committed to the oil production policy within the OPEC + agreement according to proportions .
The agreement stipulates that in the coming years it will be agreed to set an amount in a fair percentage from the federal general budget for the Kurdistan Region through the introduction of constitutional standards, population ratios, and Kurdistan Region imports (oil and non-oil) in the previous year.
According to the document, the Kurdistan Regional Government expresses its readiness to conclude an agreement on the energy file, including electricity and gas, in accordance with the legal and technical contexts that are agreed upon between the competent authorities in the two governments.
Number of observations 17 Date added 08/19/2020 https://economy-news.net/content.php?id=21493
Border Crossings: 10 Ports Are Still Closed Until Now Due To The Corona Pandemic
Reports Economy News – Baghdad The Border Ports Authority announced that the ports currently operating in Iraq are 7 ports due to the Corona pandemic that led to the closure of 10 border ports.
The head of the Border Ports Authority, Omar Al-Waeli, said that Iraq is currently working at 7 border ports, after it was 17 border ports, indicating that the exit of the border outlets from work is due to the Corona pandemic.
He added that the revenues of the border crossings began to increase on a monthly basis, after protection was provided by the Military Operations Command, explaining that one port achieves an income of 2.5 billion dinars per day.
He stressed that customs exemptions and the Corona pandemic affected the lack of revenues, explaining that the Border Ports Authority is working to automate border crossings to eliminate corruption.
And the Joint Operations Command announced that Iraq had achieved 500 billion dinars in the 7 border crossings operating inside Iraq, and many specialists questioned the validity of these numbers and that it is an attempt by the government that it has achieved success in managing this file.
On the other hand, the economist, Mazen Baheya, said that "import demand decreased by about 30-40 percent due to the spread of the Corona virus and the slowdown in the economy and also because of the government's announcement to prevent the import of products that achieve self-sufficiency, such as agricultural products ."
The oversight committees in Parliament indicate that the revenues of the border crossings should be more than 8 billion dollars annually, but due to the rampant corruption in the border crossings, the revenues of the border crossings did not exceed one billion dollars.
Number of observations 23 Date of addendum 08/19/2020 https://economy-news.net/content.php?id=21491
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