More Iraqi News Sunday PM 6-20-21
More Iraqi News Sunday PM 6-20-21
TLM724 Administrator BondLady’s Corner
Al-Kazemi's advisor: The Government Has Successfully Passed The Most Difficult Exam In The Modern History Of Iraq
Time: 06/20/2021 08:40:30 Reading: 2,379 times {Local: Al Furat News} Adviser to the Prime Minister, Mazhar Muhammad Salih, stated that despite the severity of the economic and financial difficulties that afflicted the country, the government was able, within a year of its life, to manage the financial and economic file well, which in turn was reflected in the management of the health file in light of the pandemic. Corona.
Saleh said, in a press statement, "The country's economic file during a year of the life of the current Iraqi government faced double difficulties imposed by the health crisis as a result of the Corona pandemic, the closure of the local economy and the disruption of many private sector activities, accompanied by a severe government financial crisis that lost the actual current government expenditures more than 60% of its revenues in the year 2020 compared to the year 2019.”
And he indicated that "in the face of these difficult deflationary conditions in the economy, and in order to finance current spending, especially salaries, wages, pensions, social welfare, and governing obligations, the House of Representatives agreed that the government would expand the base of internal borrowing to finance the deficit in actual current spending, about 25 trillion dinars funded by the government banking system."
And the Central Bank of Iraq strongly and fully supported it in exchange for treasury transfers under the borrowing laws, a rescue deal that enriched the country from resorting to external borrowing.
He added that "the government was able to manage the epidemiological file with all the health capabilities available to protect public health tirelessly day and night, as well as its ability to prepare and pass the federal general budget law for the year 2021 in cooperation with the legislative authority, which included appropriate allocations in the investment budget for new and ongoing projects that accounted for approximately 23 % of the total expenditure in the budget, in order to cover the expenses of those projects.
And Saleh continued: "The successful exit from the bottleneck in the health and financial double crisis for the year 2020-2021 with the recovery of the oil markets and the restoration of the general budget to reassuring cash flows; we can say that the features of crossing the cycle of oil assets that reached the bottom and crossing the epidemic crisis that reached the top, are the test."
The most difficult in Iraq's modern political history, after the country successfully crossed the double security and financial crisis that occurred in 2014-2017.
He concluded by saying: "These are the harsh lessons in the government's management of the economic file in crisis conditions, which ended with government success and with the least possible losses to preserve the safety and stability of our country and people." Hazem LINK
Planning: Monitoring A Slight Increase In The Inflation Rate During The Month Of May
Time: 06/20/2021 08:49:25 Reading: 1,521 times {Local: Al Furat News} The Ministry of Planning revealed, today, Sunday, that there was a slight decrease in the prices of the food and non-alcoholic beverages department by (0.3%) during the past month, while the ministry confirmed that the monthly inflation rate also recorded a slight increase in the month of last May, at a rate of (0.04%).
The official spokesman for the Ministry of Planning, Abdul-Zahra Al-Hindawi, in a statement received by {Euphrates News} a copy of which attributed the drop in food prices to the decrease in the prices of milk, cheese and eggs by (1.9%) and vegetables by (1.8%), adding that the Central Bureau of Statistics continued to monitor prices for various sections.
Throughout Iraq, and that the agency issued its sixth qualitative report on the consumer price index for the month of May, after changing the exchange rate of the dinar in November of last year, noting that the prices of the tobacco section recorded an increase during the mentioned month by (1.9%), compared to With the month of April, while the prices of clothes and shoes recorded a slight increase by (0.2%),
while the housing section witnessed a decrease in its prices during the last month (0.2%), due to the decrease in rental prices by (0.6%), and on the other hand, the prices of the equipment and supplies section recorded Household and maintenance increased by 0.2%, and the prices of the health department also increased by 0.1%.
For its part, the prices of the education and transport departments maintained the same levels recorded in the month of April, and the prices of the restaurants department recorded an increase of (0.1%), and the prices of miscellaneous goods and services increased by (1.5%), while the prices of the communication department increased by (0.3%). The prices of the entertainment section increased by (1.5%).
Al-Hindawi pointed out that the inflation index recorded a cumulative increase since December of last year 2020, until May of this year, reaching (5.6 percent).
It is worth noting that the inflation index for the month of December, according to what was monitored by the Ministry of Planning after changing the exchange rate of the dollar, recorded a rise by 3.3%, and in January of the same year the inflation rate rose by (0.Cool, and it rose in February by (0.7%). In the month of March, the rate of rise in the inflation index was (0.6%), and the rise index decreased in the month of April to (0.1%). LINK
Investors Received 30% Of The Project Costs And Left Them To Disappear
Sunday 20 June 2021 153 Baghdad: Wafaa Amer The Parliamentary Committee on Economy and Investment revealed that investors have defrauded and manipulated by taking a percentage ranging between 25 and 30 percent of the project costs, and implementing only 10 percent and leaving them exposed to extinction, in addition to the existence of projects for which financial payments have been delivered to contractors without being implemented so far.
And Prime Minister Mustafa Al-Kazemi instructed, last April, to cancel 1,128 investment projects due to their low completion rates of 35% or the expiry of the time period specified for their completion, while he issued warnings for incomplete projects, provided that the National Investment Commission will supervise and follow up on the implementation of the procedures. Al-Maliki told "Al-Sabah": "There are 4 thousand investment projects suspended throughout the country, but they are referred by the Investment Authority, ministries and provinces to companies."
He noted that "most of these projects are in important strategic locations and are estimated at millions of dollars and in important residential, commercial and health sectors," noting that "the manipulation mechanism in these projects begins with the investor taking the project, and then grants a percentage ranging between 25 and 30 percent of its cost, but only 10 percent is accomplished. The project is abandoned and remains neglected to the point that many of them have been destroyed.”
He pointed out that "the committee called on the Investment Authority to provide it with a list of its lagging projects and their full details in order to find the necessary solutions for them." He stressed that "there are many lawsuits and cases in the courts due to companies' neglect and abandonment of projects, whether in Baghdad or the provinces, and many of them have been resolved, and some lawsuits are still pending and projects are suspended despite the urgent need for them."
Al-Maliki suggested, "the formation of committees within the ministries or provinces with the companies implementing the projects and under the supervision of the House of Representatives to solve the problems of the outstanding investment projects." LINK
Iraq Expects Oil Prices To Rise To $80 A Barrel
Political | 03:59 - 20/06/2021 Baghdad - Mawazine News: The Ministry of Oil expected, on Sunday, that prices would rise to $80 a barrel.
Ministry spokesman Assem Jihad said in a televised statement: "We are optimistic about the rise in prices, but we are counting on their stability," expecting that "prices will exceed $70 and reach $80 a barrel."
He added that "oil pricing is monthly, not daily, through a joint committee headed by the Minister of Oil," noting that "our goal is to export oil to all global markets in America, Asia, Europe and Asia." Ended 29/A43 https://www.mawazin.net/Details.aspx?jimare=157689
After The Rise In Oil Prices, A Parliamentarian Reveals The Additional Financial Revenue For Iraq Annually
Pratha News Agency106 2021-06-20 The head of the Rafidain Parliamentary Bloc, Yonadam Kanna, confirmed today, Sunday, that the additional financial revenue for the state treasury annually, as a result of the high price of a barrel of oil globally, will reach 25 billion dollars, while he called on the government to take advantage of this surplus and reduce the dollar exchange rate to 125 thousand dinars per 100 dollars. .
Kanna said in a press interview, "The price of a barrel of oil in the budget was 45 dollars per barrel and currently it is 70 dollars, which means a difference of 25 dollars per barrel. 25 billion dollars annually,” noting that “this amount, if determined for the remaining six months of this year, means that there is a surplus of 12 billion and 500 million dollars.”
Kanna added, "This surplus and financial abundance require the government today to reverse the decision to raise the exchange rate of the dollar against the dinar, and to have it to its previous rate, or at least reduce it to the price of 125,000 dinars for every hundred dollars," noting that "the current situation has been affected by it."
Most classes of society are workers, peasants, employees and earners, as the problem has become very big in the country and may lead to catastrophic social consequences if the government insists on its position, given that the only beneficiary of this situation is a small class of price speculators and the government should pay attention to this disaster to which it is exposed the Iraqian people".
He added, "The prices in the markets have risen in varying degrees, some of which have risen to 25% and the other to 50 or 100%, and there is no follow-up from the regulatory authorities for this situation. Therefore, the intelligence and national security agencies should have specialized agencies to monitor the economic situation in the market and not leave it on the market."
The whims of speculators, in addition to following up on the file of sales of hard currency, for which no goods come on the ground, but only import bills without the presence of real materials entering the country, where there is smuggling and currency bleaching, and the concerned authorities must stress these actions. http://burathanews.com/arabic/economic/394739
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