More Iraqi News Monday PM 3-8-21
More Iraqi News Monday PM 3-8-21
TLM724 Administrator BondLady’s Corner
The Iraqi Stock Exchange Closes Higher
Economie| 03:24 - 08/03/2021 Baghdad - Mawazine News The Iraqi "Stock Exchange" index closed today up by 1.22%, stopping at 565.73 points. The index recorded an increase in the shares of 9 companies, and a decrease in the shares of 3 others, while 4 companies maintained their share prices.
The number of shares traded reached 1,329,225,102 shares, worth 687,900,630 Iraqi dinars, obtained from the conclusion of 441 deals, including 16 joint-stock companies, out of 104 companies registered in the stock exchange. https://www.mawazin.net/Details.aspx?jimare=144732
Economist: This Is What The High Oil Prices Have Achieved In Terms Of Financial Savings Drawn By The Draft Budget
Monday 08, March 2021 10:50 | Economical Views: 365 Baghdad / NINA / The expert in economic affairs, Malaz Al-Amin, confirmed that the global increase in oil prices has achieved financial savings of more than 5 billion dollars per month over what was drawn up in the draft Iraqi budget, calling on the government to take advantage of this increase in bridging the budget deficit.
In a statement to the Iraqi National News Agency ( NINA ) , the Secretary said : The efforts of OPEC + countries were successful during the Corona pandemic crisis and the global energy consumption rate decreased ..
After agreeing to reduce production and adhere to the established quotas, the price per barrel rose from $ 38 in the last quarter of the year. The past to 65 dollars at the end of last February, and may rise to cross the barrier of 70 dollars during the current month. "
He pointed out: "Iraq has been affected economically like the rest of the world by the pandemic, because its economy depends mainly on exporting oil, which forced the Ministry of Finance to borrow to fill its budget deficit and pay employees' salaries, in addition to raising the exchange rate of the dollar against the dinar by 20% in order for the ministry to fill Debts and loans owed by them. "
He added, "At a time when the Iraqis are waiting to vote on the budget, the price of a barrel of oil has increased over what is proven in the draft budget law by a difference of more than $ 20 a barrel, with the Ministry of Oil moving to produce crude from less expensive fields, which means achieving financial savings of more than $ 5 billion per month.
On what the draft budget has drawn up, "indicating:" These funds should go towards paying off debts and the budget deficit, and what increases them goes to the Central Bank as a cash reserve that enhances the value of the national currency.
He stressed the importance of the Ministry of Finance and the Central Bank benefiting from high crude prices and increasing financial revenues to reform the structure of economic sectors, limit imports, support local products, and attract investments to implement strategic projects to serve the national economy and provide job opportunities for the unemployed.
https://ninanews.com/Website/News/Details?key=892338
Oil Prices Exceed $ 71 A Barrel
Pratha News Agency94 2021-03-08 Oil prices rose today, Monday, to reach their highest level in more than a year, after a stronger than expected job report in the United States and OPEC and its allies' decision not to increase supplies in April, as this coincides with the attacks on Saudi oil facilities.
Brent crude futures exceeded US $ 71 per barrel for the first time since January 2020.
According to trading data, May Brent futures rose by 2.32 percent to reach $ 71.15 a barrel.
West Texas Intermediate crude oil in April futures rose 2.57 percent to $ 67.81 a barrel.
Earlier, trading data showed that the price of Brent crude rose to surpass the level of $ 70 a barrel.
http://burathanews.com/arabic/economic/38788
Parliamentary Finance: The Adoption Of The Price Of $ 45 A Barrel Of Oil Is Far From Reality
Money and business Economy News – Baghdad The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, considered, Monday, that the adoption of the exchange rate of $ 45 in the budget is far from reality because all the data and expectations of oil experts that the price of oil will range between $ 61 to $ 69 during the year 2021, indicating that it was more appropriate to calculate the price of a barrel Oil, at least $ 50.
Al-Saffar said in a press interview, "Building the budget on the price of a barrel of oil at $ 45 is far from reality, as the last months of last year seemed to rise rapidly according to data expected, including finding vaccines for Corona and a significant drop in the US oil reserve."
He added, “Most of the members of the Finance Committee called on the government to adopt a price of $ 50 a barrel, and this is true, but the government refused to do so,” indicating that “if $ 50 was approved, it would provide us with 20 trillion dinars in the budget, and this will definitely reduce the budget deficit significantly and provide job grades. And revitalizing the private sector, education and health.
Al-Saffar pointed out that "the committee raised the size of the budget to 129 trillion to support important sectors, based on financial abundance as a result of high oil prices, and perhaps we will work to conduct a supplementary budget after the seventh month if oil prices continue at this level."
Number of observations 120 Date of addendum https://economy-news.net/content.php?id=24356
Oil Seeks To Fully Invest Associated Gas
Energy Economy News _ Baghdad The Ministry of Oil revealed, on Monday, projects to invest 1,200 million cubic feet per day of associated gas, stressing that the currently available production capacity of crude oil is 5 million barrels per day.
Undersecretary Hamid Yunus said in a press interview with the Iraqi News Agency, which was followed by Al-Iktissad News, that "Iraqi gas is divided into two types: gas associated with oil and free gas, and that associated gas depends entirely on the amount of crude oil produced, as it is isolated from oil."
He added, "The amount of gas associated with oil is 2700 million standard cubic feet per day," noting that "the amount invested from it is currently estimated at 1500 million cubic feet per day, and that part of it goes to the electrical stations while the other part goes to domestic consumption." Like a liquid gas.
He pointed out that "the remainder of the associated non-invested gas is estimated at 1,200 million cubic feet per day, and that the Ministry of Oil has been planning since 2015 to fully and quickly invest associated gas."
He pointed out that "there are projects under implementation, including the Nasiriyah gas project with a capacity of 200 million cubic feet per day, in addition to the Halfaya gas project with a capacity of 300 million cubic feet per day, and the Artawi gas project in Basra Governorate with a capacity of 400 million cubic feet per day, and the Artawi gas project.
" The south has a capacity of 300 million cubic feet per day, "explaining that" these projects will be completed according to the schedule set for them, and the entire gas associated with crude oil will be invested. "
Yunus added, "There are projects for free gas fields that have been implemented years ago, including the Mansouriya project in Diyala governorate, and the crutch gas project in the upper Euphrates in Anbar governorate, but these projects have stopped due to the security events and the conditions that the country has gone through," indicating that "The Ministry of Oil is striving to cooperate with sober international companies to develop these fields."
On the rate of crude oil production, Yunus said, "The available production capacity of crude oil is 5 million barrels per day, but due to the circumstances and limitations of OPEC Plus and Iraq's commitment to the agreement to reduce production, the current production is less than 3.5 million barrels, and that the ministry's plan is to raise the market value of oil." The source and that the Ministry of Oil aims to raise the production capacity of the refineries and improve the quality of oil products, as well as the optimal investment of gas. " Number of observations 180 Date of addendum 03/08/2021
https://economy-news.net/content.php?id=24352
The End Of The Joint Meeting Of The Presidency Of Parliament And The Leaders Of The Blocs On Completing The Vote On The Federal Court Law
Monday 08, March 2021 17:52 | PoliticalViews: 98 Baghdad / NINA / The Presidency of the House of Representatives ended its joint meeting with the heads of the blocs and members of the Legal Committee in the Office of Parliament Speaker Muhammad al-Halbousi, this afternoon, Monday, to discuss the remaining two articles of the Federal Court draft law, after agreeing on 4 out of six postponed articles that were not voted on In last Thursday's session. / End 5 https://ninanews.com/Website/News/Details?key=892440
Parliamentary Finance: No Taxes On Employee Salaries During 2021
Money and business Economy News – Baghdad The Parliamentary Finance Committee confirmed, on Sunday, that there are no taxes in the 2021 General Budget Law on employee salaries.
Committee reporter Ahmed Al-Saffar said, "There are four obstacles hindering the voting process on the general budget law for the current year," according to "INA."
He added, "The first obstacle relates to political consensus, and the other relates to the shares of the provinces with regard to the third with job grades, and the fourth relates to the share of the Kurdistan region."
He pointed out that "what is rumored about including a paragraph in the 2021 budget related to imposing taxes on employees 'salaries is incorrect," noting that "the Finance Committee deleted this paragraph and there were no taxes or deductions on employees' salaries in the budget."
It is noteworthy that Finance Minister Ali Allawi had earlier suggested that the parliament would place an income tax on all salaries. Number of observations 339 Date of addendum 03/07/2021
https://economy-news.net/content.php?id=24349
The Central Bank’s Sales Of Hard Currency Decreased Today, Monday
Economie| 11:45 - 08/03/2021 BAGHDAD - Mawazine News The Central Bank of Iraq’s hard currency sales witnessed a significant decline by 58%, reaching $ 45 million.
The Central Bank auction for the sale and purchase of foreign currencies today witnessed a decrease in its sales by 58.18 percent, to reach 45 million and 655 thousand dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar.
All purchases amounting to 45 million and 655 thousand dollars went to strengthen the funds abroad in the form of transfers and credits, while the banks did not make any purchases of dollars in cash.
Eight banks have fulfilled requests to boost overseas assets.
It is noteworthy that the central bank's sales of hard currency, last Thursday, amounted to 109 million and 16 thousand dollars. Ended 29 / https://www.mawazin.net/Details.aspx?jimare=144688
The Region's President Responds To Al-Kazemi's Call To Hold A National Dialogue
Time: 03/08/2021 14:19:30 Read: 2,990 times (Baghdad: Al Furat News) The President of the Kurdistan Region, Nechirvan Barzani, confirmed his support for the call launched by the Prime Minister, Mustafa Al-Kazemi, today, Monday, to hold a national dialogue, to reach a final agreement and to develop radical solutions to the problems of the Kurdistan Region with the federal government.
Nechirvan Barzani said in a tweet on Twitter: "I support Prime Minister Al-Kazemi's call for a national dialogue between the various Iraqi parties and a real deep dialogue in order to reach a final agreement and develop radical solutions to the problems of the Kurdistan Region with the Iraqi federal government in accordance with the constitution."
And today, Monday, the Iraqi Prime Minister, in a pictorial speech, called for a "national dialogue to be a gateway to achieve the aspirations of our people." Technical time agreed with the international coalition.
Al-Kazemi called for "a national dialogue at all party, official and popular levels to reach a final agreement between the central government and the Kurdistan Regional Government."
In a statement received by Al-Furat News, Al-Kazemi said, "We call on all the different political forces, popular and youth protesters, and government opponents to the table of responsible dialogue before our people and in the face of history. We call on our forces and political parties to give priority to the nation’s interest and to move away from the language of convulsive rhetoric and political projection, and to Preparing for the success of early elections, and giving our people the opportunity to have hope and confidence in the state and the democratic system. "
He continued: "I also call for a deep, genuine national dialogue, at all official, party and popular levels, to reach a framework for a final agreement on the relationship between the central government and the Kurdistan region in a way that preserves the unity of the Iraqi territories and addresses the accumulated problems radically." LINK
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