More Iraqi News Thursday Evening 3-24-22
More Iraqi News Thursday Evening 3-24-22
TLM724 Administrator BondLady’s Corner
National Security and the Ministry of Trade form an operations room to follow up on the price file in the markets
Economie| 01:27 - 03/24/2022 Baghdad - Mawazine News, today, Thursday, the National Security Agency announced the formation of a joint operations room with the Ministry of Trade to monitor market prices.
The head of the agency, Hamid Al-Shatri, said in a televised statement, which was followed by / Mawazine News /, that "we have formed a joint operations room with the Ministry of Commerce to follow up the file of prices in the markets, coinciding with the approaching of the blessed month of Ramadan," noting that "there was a discussion with the minister on the issue of controlling the market." The prices of basic foodstuffs in the markets, coinciding with the advent of the month of Ramadan and the repercussions and effects of the global crisis due to the war in Ukraine, and its repercussions on food security.
He added that "the operations room will have specialists from the National Security and the Ministry of Commerce to follow up in detail and continuously the prices and control them and develop mechanisms and plans to combat this phenomenon." https://www.mawazin.net/Details.aspx?jimare=188252
The OPEC Basket Records More Than $116 Per Barrel Of Oil
Economie| 02:08 - 24/03/2022 Baghdad - Mawazine News: On Thursday, the prices of the OPEC basket of oil recorded more than 116 dollars per barrel.
In its report, which was reviewed by Mawazine News, the Organization of the Petroleum Exporting Countries stated that "the price of the OPEC basket of thirteen barrels of crude recorded $116.94 per barrel," noting that "the price rose from the previous day by $2.34, after recording $114.60."
The Organization of Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Rabie Lite (Gabon), Heavy Iran (Islamic Republic of Iran) Basra Al Khafeef (Iraq), Kuwait Export (Kuwait), Es Sidr (Libya), Pune Light (Nigeria), Arab Light (Saudi Arabia), Murban (UAE) and Miri (Venezuela). Ended 29 / 92
https://www.mawazin.net/Details.aspx?jimare=188255
Adviser To The Prime Minister Reveals A Wide Consultation Circle To Confront The Global Food Crisis
Economie| 09:25 - 03/24/2022 Baghdad - Mawazine News, the economic and financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Thursday, a wide consultation circle to confront urgent matters such as the global food crisis.
Saleh said, in a statement to the official newspaper, which was reviewed by Mawazine News, "Currently, there is a wide circle of consultation and coordination between Parliament and the executive authority on urgent matters such as facing the global food crisis because it is major national issues.
Emergency) because it is part of the Financial Management Law and is called the emergency reserve for the purposes of emergency expenditures,” noting that “it is the exclusive authority of the Prime Minister and the Council of Ministers to dispose of it within the exchange doors for emergency issues such as a flood or water crisis.”
He added that "confronting priorities such as the global food crisis and poverty in the country, is to take a package of measures," noting that "if these paragraphs need financial coverage, Parliament is the one who covers them legally by a decision that allows the government to act and then it is part of the general budget, or it has Legislation of a special law, as happened in the law on borrowing two years ago.
And Saleh indicated, "The Financial Management Law stipulates that {the current government spends 1/12 of the actual current expenditures from the previous budget, and if it is wanted to spend more than this, it is outside the law by special legislation for any urgent or exceptional programs}.
https://www.mawazin.net/Details.aspx?jimare=188228
For The 5th Day In A Row, Dollar Prices Are Witnessing Stability In Local Markets
Economie| 09:56 - 03/24/2022 Baghdad - Mawazine News The dollar exchange rates witnessed stability, today, Thursday, for the third consecutive day in local markets throughout Iraq. Prices:
Baghdad Sale 147.750 dinars Buy 146.750 dinars
North Sale 147.750 dinars Buy 146.750 dinars
South Sale 147.750 dinars Buy 146.750 dinars
https://www.mawazin.net/Details.aspx?jimare=188232
Where Is The Iraqi People's Budget For 2022
Samir Al-Nusairi* We are now in the middle of the third month of 2022 and most countries of the world have issued their general budget for the aforementioned year, with the exception of Iraq, which we, the economic elites, did not know where the general budget is. Was it prepared? Is it still in the corridors of the ministries of finance and planning? In preparing them on the items as usual, or did they adopt economic programs and plans?
In fact, no one knows and we only know that Iraq’s budget for several years is not approved and issued until several months after the budget year because of the problems and political quarrels between the political blocs and those who forgot that the budget is the budget of the Iraqi people and the budget for the implementation of investment projects and projects of reconstruction, construction and economic reform. How long will the patient people suffer this injustice and the encroachment on their rights in this repeated way every year?
The current and expected financial situation for Iraq until the end of the year is very good, as oil prices will not be less than $100 per barrel. It fulfills its obligations towards internal and external debts, establishes its sovereign fund,
and overcomes a real budget deficit for the first time in years. Therefore, in the face of this reality requires taking quick measures by approving the budget by the new government and Parliament, with a date not exceeding the first half of this year, and to include the following priorities: ‐
1‐ Re Revenue structure towards activating and stimulating the productive sectors, especially agriculture, industry, housing, services and tourism, and increasing the proportion of the contribution of income sources other than oil to the budget revenues.
2 - Increasing the investment allocations in the budget, including at least the completion of projects whose implementation rate exceeded 50%.
3- Giving a role to the private sector in investing in reconstruction and infrastructure projects in Baghdad and the governorates
4- Allocating an amount to establish the Sovereign Fund (the Generation Fund) from the savings achieved from the increase in oil prices, and it is managed by a specialized board of directors, and its funds are invested under the supervision of the Central Bank and the supervision of the Financial Supervision Bureau.
5- Allocating a special amount to the Ministry of Commerce to secure strategic storage for foodstuffs covered by the ration card for a period of no less than 3 months.
Increasing the ration items to reach 10 items. Allocating funds to support the prices of flour, rice, sugar and baby milk.
6- Allocating an amount to activate and support the agricultural, industrial and tourism sectors and to support the local product.
7- Allocating an amount to the Ministry of Labor to cover the increase in the number of people covered by social care, to cover the increase in their salaries at a rate equivalent to the reduction in the Iraqi dinar exchange rate, to cover the financing of small and medium projects, and to include the displaced who cannot be returned to their homes with social care. * Economic and banking consultant
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