More Iraqi News Tuesday PM 2-2-21
More Iraqi News Tuesday PM 2-2-21
TLM724 Administrator BondLady’s Corner
Representative economy: High oil prices will contribute to overcoming the deficit
Money and business Economy News _ Baghdad A member of the Parliamentary Economic and Investment Committee, Hamid al-Mousawi, confirmed, on Tuesday, reducing the budget amounts to the level at which it would be possible to bridge the budget deficit, pointing out that high oil prices will contribute to overcoming the deficit.
Moussawi said in a press interview, "The House of Representatives has monitored many paragraphs in the budget that include large expenditures, and today it is working to reduce its total amount to approximately 110 trillion dinars and reduce more than 50 trillion." He added that "the deficit is likely to range between 20-25 trillion, and this matter is compensated for through high oil prices, especially as there is a recovery in prices."
And that "some paragraphs of the budget and despite the allocation of their sums, but they will not be implemented on the ground, and therefore what is allocated to it contributes to bridging the imaginary budget deficit." Number of observations 90 Date added 02/02/2021
https://economy-news.net/content.php?id=23913
Oil Exceeds $ 57 A Barrel
Economy Tuesday 2 February 2021 | 11:04 a.m.| Views: 95 April futures prices for Brent crude on the London Stock Exchange ICE rose 1.19% . According to trading data, the price of a barrel in these contracts reached 57.02 dollars . The last time the price of Brent crude exceeded $ 57 a barrel was on January 13 of this year . Brent crude was trading today morning at $ 57.06 (+ 1.26% ). In contrast, the cost of April futures for WTI crude oil increased to $ 54.13 per barrel (+ 1.32%).
https://aynaliraqnews.com/index.php?aa=news&id22=143282
Financial Advisor To The Prime Minister: Salary Taxes Are Temporary
Money and business Economy News _ Baghdad The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Tuesday, that imposing taxes on salaries is a temporary measure.
Saleh told the Iraqi News Agency and his "Al-Eqtisad News", that "administrative decisions cannot basically disrupt the application of the income tax law in effect on taxpayers in general and government taxpayers in particular, and whatever the reasons, even if the income stops or falls to critical limits, then the tax rate is then zero from A cent or (negative tax), meaning the payment of subsidies to those charged, such as social care, emergency grants, and others. "
Saleh pointed out that "the tax law does not suspend except by a law, and that disrupting some paragraphs of the laws in force through the annual budget law is an exceptional act and comes to temporarily strengthen the public budget resources during the fiscal year and the exception ends at the end of the fiscal year itself, in order to avoid an annual financial deficit that may compromise fiscal discipline." Risk. "
He added, "Historically, the House of Representatives adopted the government's proposal in my 2015-2016 budget to impose a temporary tax of 3.8% on the total salaries and pensions paid by the government, which was allocated at the time to support the popular crowd and the displaced in a funding pause to meet the costs of the war against ISIS terrorism, and it also included pensions." .
And that "this tax ended with the end of the two fiscal years at the time, and therefore imposing taxes as an exception or withholding them as an exception through the budget law is one of the temporary means, so amendments should be enacted by permanent legal legislation independent of the annual federal budget law." Number of observations 178 Date added 02/02/2021
Al-Kalabi Reveals A Request That The Minister Of Finance Will Submit To Parliament Regarding His Interrogation
Political Tuesday 2 February 2021 | 05:38 pm| Views: 111 A member of the Parliamentary Integrity Committee, Youssef Al-Kalabi, revealed, on Tuesday, a request that Minister of Finance Ali Abdul Amir Allawi will submit to the parliament regarding his interrogation. Al-Kalabi said in a tweet on "Twitter": "I heard now that the Finance Minister intends to send a request to renew the confidence to the House of Representatives instead of attending with a precedent he creates, explaining that this matter exists in Britain." Al-Kalabi had demanded the Presidency of Parliament to set a date for the interrogation session of Finance Minister Ali Allawi. According to a document issued by Al-Kalabi, the Presidency of Parliament responded to the request by "fixing the date for the next session." https://aynaliraqnews.com/index.php?aa=news&id22=143313
The International Islamic Bank Announces Its Joining Of The Bani Arab Payments Platform
Banks Economy News – Baghdad The International Islamic Bank announced that it has joined the Bani Arab Payments platform, which is supervised by the Arab Monetary Fund.
The bank said, on its Facebook page, seen by "Al-Eqtisad News", "The Islamic International Bank announces the completion of all operational requirements related to the connection with the Bunaa Arab Payments platform, affiliated to the Regional Corporation for Arab Payments Clearing and Settlement owned by the Arab Monetary Fund."
The bank added, "Bona is a platform that provides real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies."
He noted that the most important characteristic of this platform is the competitive costs in exchange for the financial transfer, which will contribute to shortening the time and effort of the customer, noting that some of the features of the platform include financial transfer at reduced costs, and the transfer in Arab currencies such as the UAE dirham, Egyptian pound, Kuwaiti dinar, Jordanian dinar, Saudi riyal and international. Including the US dollar and the euro.
The bank confirmed that the service will be launched on the tenth of this month.
On January 4, 2021, the Central Bank announced the actual launch of the adoption of the Iraqi dinar in the Buna platform for inter-Arab payments.
The central bank said, "The platform works to provide real-time clearing and settlement services for cross-border financial transfers between Arab countries and in Arab and international currencies," noting that "the first movement has been implemented through banks between the UAE and the Arab Republic of Egypt, in the currency of the UAE dirham."
He added, "The Central Bank of Iraq had previously signed an agreement with a number of local banks and completed the technical requirements to participate in the project in coordination with the Arab Monetary Fund," stressing that "work is underway to adopt the Iraqi dinar in the system for the next stage."
He pointed out that "banks will be able to participate in Arab countries in sending and receiving payments between them in a safe and reliable manner, while this platform will help reduce recourse to international centers from correspondent banks in clearing and settling Arab payments, which will contribute to reducing the time and costs associated with banks and their customers."
Number of observations 326 Date added 02/02/2021 https://economy-news.net/content.php?id=23924
Council Of Ministers: Linking The External Controls To The Ministry Of Interior To Prevent Smuggling Of Goods From Border Crossings
Tuesday 02, February 2021 17:53 | EconomicalViews: 116 Baghdad / NINA / The cabinet decided to link the external controls with the Ministry of Interior to prevent smuggling of goods from the border crossings. / End 5 https://ninanews.com/Website/News/Details?key=885500
Al-Faily Reveals The Amount Of Money Smuggled Out Of Iraq During The Saddam Hussein Regime
Political Tuesday 2 February 2021 | 1:16 PM| Views: 265 Today, Tuesday, a member of the Iraqi Parliament's Economic Committee, Mazen Al-Faily, revealed the amount of money smuggled out of Iraq during the era of Saddam Hussein's regime .
Al-Faily said, "Iraq's money smuggled during the era of the former regime amounts to $ 500 billion, which is equivalent to a 5-year budget in the current Iraq situation ."
He added, "This money is found in most of the large European banks ."
"Iraq needs modern legal legislation, and international experts are brought in to study how to recover this money, as the country is in dire need of it at the present time," he said.
https://aynaliraqnews.com/index.php?aa=news&id22=143295
The UN Representative Announces Her Visit To Tehran To Support Stability In Iraq
The Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Hennis Blasshardt, announced the details of her visit to the Iranian capital, Tehran, noting that it is part of efforts to support stability in Iraq.
The office of the UN envoy said in a statement that "Plasschaert visited Tehran on January 31 and February 1, and held talks with Iranian officials on regional issues, as part of the efforts made to support stability in Iraq."
He pointed out that "the Special Representative has visited a number of countries in the region, including Iran, before, and these visits come in support of the mandate of the United Nations Assistance Mission for Iraq (UNAMI) under a Security Council resolution that includes facilitating regional dialogue and cooperation, including on security issues. Borders, energy, trade, environment, water, infrastructure, public health, and refugees. https://www.radionawa.com/all-detail.aspx?jimare=23352
To read more current and reliable Iraqi news please visit BondLady’s Corner: