More Iraqi News Friday PM 6-25-21
More Iraqi News Friday PM 6-25-21
TLM724 Administrator BondLady’s Corner
Saleh: High Oil Prices Prevented Borrowing In The Budget
Author: AhadNA3 On 6/25/2021 - 10:07 AM 75 Adviser to the Prime Minister for Financial and Economic Affairs, Mazhar Muhammad Salih, said that the high oil price does not make the budget balanced, except on conditions, indicating that the budget surplus prompted the government not to finance the deficit by borrowing.
Saleh confirmed in a press interview; The conditions of balance in the federal budget require the stability of the average oil price of $75 over the course of the fiscal year and not fluctuate, as if it decreases to 50 dollars and rises again,” noting that “the budget in which the price of a barrel was set at 45 dollars and has a hypothetical deficit and it includes spending commitments and oil revenues.” And not oil.”
He added that if the price of a barrel of oil continues at $75 throughout the fiscal year, there will be a balanced budget, provided that there is efficiency in spending and efficiency in non-oil revenues as planned.
He pointed out that "during the first 6 months of this year, the barrel price achieved more than 45 dollars, and at least 62 to 65 dollars the average selling price, and thus achieved a surplus that made the government not finance the deficit by borrowing," noting that "the budget is transformed from a budget A deficit to a balanced budget when the desired expenditures are equal to the desired revenues with the surplus resulting from the rise in oil prices.
https://alahadnews.net/209797/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af/
Oil Prices Continue To Rise
Pratha News Agency112 2021-06-25 Oil prices rose for the third consecutive session, today, Friday, achieving gains for the fifth consecutive week, thanks to expectations of tight supplies offset by an increase in demand.
According to "Reuters", Brent crude futures rose 6 cents, or 0.1 percent, to $ 75.62 a barrel by 06:46 GMT, and is heading towards recording a 2.9 percent jump in the week.
And US West Texas Intermediate crude futures rose 5 cents, or 0.1 percent, to $ 73.35 a barrel, and are on track to achieve a weekly gain of 2.4 percent.
Both benchmarks hit their highest levels since October when they settled on Thursday.
"Reuters" quoted analysts that "the expectations of a tight global market are the main factor supporting crude oil, as demand recovers, while OPEC + restricts supply."
The “OPEC +” countries are scheduled to meet on the first of next July to discuss further easing of their production cuts, starting in August.
Analysts expect OPEC + to boost supplies with a small increase of 500,000 barrels per day in August, adding it to the 2.1 million barrels per day agreed to return to the market in the period from May to July.
http://burathanews.com/arabic/economic/395035
A Government Advisor Bets The Improvement Of The Value Of The Dinar On Several Conditions And Determines The Rate Of High Inflation
Economie| 10:01 - 25/06/2021 Baghdad - Mawazine News, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, pledged, on Friday, the improvement of the value of the dinar with several conditions that must be met and achieved, while determining the rate of high inflation in the country.
Saleh said, "The improvement in the value of the Iraqi dinar is related to the economy's ability to grow if significant growth is achieved in the economy and not rentier growth," noting that "expectations indicate a current growth of 2.5%, and this growth parallels the growth of the real population."
He added that "this needs the right development, reducing unemployment, increasing job opportunities, and flourishing investment projects, which encourage and generate income that compensates for oil, and gives sustainability in returns, and sustainability with the strength of the economy," noting that "
Regarding the rate of inflation, Saleh explained that “there are two types of goods, tradable goods, most of which are imported and linked to the exchange rate, and non-tradable goods, which are local such as services and others,” stressing that: “If we collect tradable and non-tradable goods, we will find That inflation did not increase more than 6%, and therefore it is considered reasonable and controlled inflation compared to the significant devaluation of the dinar. https://www.mawazin.net/Details.aspx?jimare=158262
Iraq The Judicial Institute Organizes It's Fourth Workshop In The Field Of Combating Money Laundering
June 25, 2021 Baghdad / National News Center Today, Friday, the Judicial Institute organized a specialized workshop on combating money laundering under the title (Parallel Investigation and its Importance and Procedures in the Money Laundering Crime), with the participation of a group of judges specialized in this field.
The Media Center of the Supreme Judicial Council stated, in a statement received by the "National News Center", that "the Judicial Institute organized, today, Friday, the fourth workshop in a series of specialized lectures related to combating the crime of money laundering, pointing out that" the workshop was attended by 18 beneficiaries, including judges and members of the judiciary. The Public Prosecution Office of all appeals.”
The statement added, "The workshop was attended by Judge Iyad Mohsen Damad, a specialist in combating money laundering crimes, and Mr. Nizar Nasser Hussein, Director General of the Anti-Money Laundering and Terrorist Financing Office at the Central Bank of Iraq." https://nnciraq.com/71956/
The Union Bloc Attacks The Presidency Of Parliament Because Of A Directive To Punish Deputies
Political | 03:50 - 06/25/2021 Baghdad - Mawazine News, on Friday, the Patriotic Union of Kurdistan (PUK) bloc attacked the book directed by the parliament's presidency to head the government regarding preventing deputies from inspecting projects individually.
The bloc stated in a statement, of which “Mawazine News” received a copy, that “the Presidency of Parliament directed a letter to the Presidency of the Government to prevent deputies from inspecting projects individually, except within the committees, and demanded to punish the deputies who used their position badly in the event of such cases through parliamentary committees. ".
The bloc demanded, "the cancellation of the June 22, 2021 book, because it reduces the prestige, tasks and responsibilities of parliamentary work." https://www.mawazin.net/Details.aspx?jimare=158295
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