KTFA:

Samson:  The House of Representatives refers the General Budget Law to the Presidency of the Republic

04/06/2021 17:07:01

  The House of Representatives referred, today, Tuesday, the draft general budget bill for the fiscal year 2021 to the Presidency of the Republic.

The second deputy speaker, Bashir Al-Haddad, said in a press statement that the House of Representatives referred today the 2021 Budget Law to the Presidency of the Republic for approval.

On March 31, the House of Representatives voted for the Federal Budget Law for the Republic of Iraq for the year 2021, and also voted to dissolve the House on October 7, 2021, with the elections to be held on time October 10, 2021.  LINK

RE Monday Night CC:  LINK  

Will:  can you spill the beans?  a lot of people are working multiple jobs and have kids to take care of.  cant watch a 4 hour video.  

Bravo13:  I know how ya feel, not enough time in a day so i'll give it a shot, all imo. 1st they shut the auctions down  because of the high risk of buying the $. today the dollar would cost them around 1450 dinars, if they revalue their currency and it goes 1-1 then they can buy that $1 for 1 dinar, thats a big loss, I think they are anticipating a positive change in the value of their currency and therefore do not want to risk losing money.

They have stated they are going to change the rate and they need to do this before the budget is signed as to ascertain what the value is to be used in the new budget in order to implement it.

We understand that they cannot implement all these contracts on an program rate and all these international contracts need to know the rate before they can be implemented. this really ups the pressure to get this done and all the articles are telling us that is just what they are doing, getting it done believe it or not lol.

Well they just handed the budget to the president for signing and as I believe it was Edna stated that starts the clock ticking so hopefully by the 21st we will have a new rate if not sooner. just my take in a nutshell, hope this helps.

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Samson:  A deputy calls for an urgent activation of "economic security" to avoid a humanitarian disaster

14:15 - 04/06/2021

MP Nada Shaker Jawdat called on Tuesday to activate economic security to avoid a humanitarian catastrophe that affects millions of Iraqis.

Jawdat said in an interview with "the information", that "the prices in the markets for various materials, especially food, are not fixed, and they are constantly rising, as there is no government policy that prevents their rise at the present time, which calls for an urgent activation of economic security in terms of forcefully entering to control the rhythm of prices and hold violators accountable."

Jawdat added, “There are a set of solutions that can help the poor and the ordinary from the high price fever through the government's resort to the principle of reviving cooperative markets and pumping large quantities of basic materials to sell them at very low prices in addition to organizing the ration card file, diversifying its vocabulary and delivering it at specific times. For all slides”.

She pointed out that "the government has the task of supporting the poor in the face of the rise, which will have very severe damage, especially since the rise has not stopped and may exploit the period of Ramadan to push prices higher, which will add to the plight of large segments of Iraqis."

The Iraqi market has witnessed a continuous rise in prices, especially for foodstuffs, in the past weeks.”
LINK

Bearcinnebar:   This article's subject is another reason to be in watch mode as well as the budget going into force .... Jawdat called on Tuesday to activate economic security .... the prices in the markets for various materials, especially food, are not fixed, and they are constantly rising ... 

The rate adjustment is needed to meet the international world and make their essential foodstuff purchases, as we have read in the articles, it is also as simple as that ~

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Samson:  Al-Kazemi government tends to open the doors of import to meet the high prices

6th April, 2021

The spokesman for the Council of Ministers, Minister of Culture, Hassan Nazim announced, on Tuesday, that the doors of import would be opened to control the high prices of goods and goods, while he confirmed that Prime Minister Mustafa Al-Kazemi will visit Arab countries soon.

Nazem said during the weekly conference, which was attended by Shafaq News Agency, that the government's plan to support the local product faced a rise in prices, and there is guidance to the Minister of Interior in this regard. He pointed out that there are visits by the Prime Minister to the markets before the month of Ramadan, and that there is a directive for the Minister of Trade to open the door to import for a certain period.

In response to a question by the Shafaq News correspondent, about Al-Kazemi's visit to the Gulf countries, Nazem confirmed that the visit to Saudi Arabia and the UAE resulted in economic and investment understandings and agreements, as the governments of the two Gulf countries allocated three billion dollars from each of them to invest in Iraq. He added, "The visits are important to Saudi Arabia and the Emirates and come within the government's plan to cooperate with Arab countries, and there are upcoming visits to other countries in the region aimed at supporting the Iraqi economy."

On the other hand, Nazim indicated that there is a directive for ministers by Al-Kazemi to write their notes on the draft budget law approved by the House of Representatives, after which the notes are submitted to the General Secretariat of the Council of Ministers for consideration.

Regarding the free lecturers, Nazim explained that the government "inherited the problem of free lecturers from previous governments, and the funds were allocated to the lecturers in the budget law, but the parliament reduced the amount allocated," stressing that the Cabinet voted to contract with the lecturers in accordance with Resolution 315 and considered them as their own contracts. Career.

Regarding the Corona epidemic, the Ministry of Health regulator announced that it had contracted 21 million doses of the vaccine.  LINK

BearCinnebar:  IMO This article is another subject of anticipation ... to open the doors of import is being international and would bring fair pricing so yes the adjustment would be needed ... the period of the cultural Iraq holiday Ramadan starts this Monday April 12th ... and lasting a month long ... and it could be right in line for the Iraqi people to gain their power of purchasing again ~

IMO Important to know and understand MilitiaMan's last commentary about the TIME FRAME WE ARE NOW IN ... as the dollar auctions are being held due to the "fear" or possibility of a change in the exchange rate!    Thank you MilitiaMan from KTFA

Samson:  Blinken's tweet on the resumption of the US-Iraqi strategic dialogue

04/06/2021 17:04:52

The US Secretary of State, Anthony Blinken, tweeted about the start of the US-Iraqi strategic dialogue on Wednesday.

Blinken said in his tweet on {Twitter}: "I look forward to speaking with my Iraqi counterpart Fouad Hussein tomorrow as part of the US-Iraqi strategic dialogue.

We will review progress in all areas of our strategic relations."   LINK

MilitiaMan:  https://www.thenationalnews.com/mena/iraq/us-iraq-strategic-dialogue-to-take-place-on-april-7-1.1193882

The relationship between the US and Iraq, including its military presence in the country, is based on a strategic framework agreement signed in 2008. It called for close defence co-operation to deter threats to Iraq's “sovereignty, security and territorial integrity".

The talks, due to take place next Wednesday, will focus on security, counterterrorism, economics and energy, political issues, and educational and cultural co-operation.

Gotta love the timing of things.. The article in the link above is a compliment to todays article from Samson. The above link was out 03/30/2021.. The economics and energy has my attention for obvious reasons.. lol. The oil deals we see of late are all about economics, yet, security is a part of that and big time too. The Tripartite with Jordan and Egyptis the following day.. Watch and see.. This is all for a purpose.. I like it! imo ~ MM

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Samson:  Al-Tafayli: 1500 investment projects stalled due to mafias and influential parties

04/05/2021 20:55:25

A member of the Parliamentary Investment and Economy Committee, Salem Tahaimer Al-Tufayli, revealed, on Monday, that there are 1,500 suspended investment projects due to mafias and influential parties.

Al-Tufayli said {to the Euphrates News} that "the aim of the investment law was to establish a central national life in Baghdad and other bodies in the governorates whose purpose is to create a new economic environment, job opportunities and eliminate unemployment." 

He added, "We have more than 1500 projects since 2004, of which little has been accomplished due to mafias and influential parties and favoritism over this investment, and faltering measures have brought investment to low stages. As for strengthening relations with neighboring countries, it came to activate investment in the country."  He called on the government and all concerned institutions to "properly implement the law and end the bureaucracy that stands as a stumbling block in the way of investment."

Tufayli also stressed "the need for investment in infrastructure, activation of laws and state control over national bodies in the governorates, in addition to providing a safe environment and empowering people to activate investment and eliminate corruption."

A member of the Parliamentary Investment and Economic Committee concluded, "We have great unemployment and the state is not leaders in appointing them, and their opportunity lies in investment projects." The House of Representatives voted on October 27, 2015 to amend Investment Law No. 13 of 2006.

This law aims at the following: First: Encouraging investments and transferring modern technologies to contribute to the process of developing and developing Iraq, expanding and diversifying its production and service base.  Second: Granting projects that obtained an investment license from the Commission additional facilities and exemptions from taxes and fees according to what is stated in this law.  LINK

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Samson:  The Turkish Lira is the worst among emerging market currencies

15:36 - 04/06/2021

The Turkish lira fell on Tuesday as annual inflation approached its highest level in two years, while the emerging market currencies index rose to its highest level in two weeks as pressure from the dollar and US Treasury revenues eased.

The lira fell by 0.7% against the dollar after recording large fluctuations in the past few sessions.

Data on Monday showed that annual inflation in March rose to more than 16% - the highest level since mid-2019, confirming continued pressure on the central bank to achieve its ambitious 5% target. And the ousting of former central bank governor Naji Aghbal last month, after only four months in office, led to the fall of the lira to record levels, according to Reuters.

This comes, while Turkish President Recep Tayyip Erdogan suddenly dismissed four bank heads in less than two years, which damaged monetary credibility and contributed to the long-term decline of the currency, which in turn led to a rise in overall inflation through imports.

For his part, the new governor of the Turkish Central Bank, Shehab Kafashioglu, said that the interest rate cuts should not be taken for granted nor considered a positive thing. In turn, currency and emerging markets analyst at Commerzbank, Tata Goose, said if Davutoglu refuses to implement Erdogan's vision for monetary policy, it will not mean a stronger lira - it just means that it will not be around for very long. “Whatever happens, it is very likely at the present time that the foreign exchange market will think in this direction,” he added.

On the other hand, other emerging market currencies rose on Tuesday, as dollar and US Treasury yields retreated from recent gains. The MSCI Emerging Market Currency Index rose 0.2% to a two-week high. But the currencies in Europe, the Middle East and Africa lagged behind their peers in Asia, amid concerns about an economic recovery in the euro area due to the slow introduction of the Covid-19 vaccine.

Emerging market currencies have also faced headwinds from the strength of the dollar and US yields this year, as the steady vaccination program raised hopes that the US economy will quickly recover from the recession caused by the virus. Meanwhile, data from the Institute of International Finance showed that net foreign flows to equity and debt portfolios in emerging markets slowed in March to their weakest levels in nearly a year under pressure from US assets. Emerging market shares rose 0.3% on Tuesday.  LIN