More Iraqi News Wednesday PM 1-27-21

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Deputy: We will raise the issues of raising the dollar and the reserves during the questioning of the governor of the Central Bank

Pratha News Agency 50 2021-01-27   A member of the Parliamentary Economic Committee, Nada Shaker Jawdat, revealed, on Wednesday, the Parliament's intention to raise the two issues of raising the exchange rate and the reasons for the hike and the financial storage of Iraq at the Central Bank.

"The House of Representatives will begin questioning the Governor of the Central Bank of Iraq, Mustafa Mekhaif, today, and there are no indications to postpone the session," Jawdat said in a press statement.

She added that "the questions that Parliament will ask are the main ones, the first of which is to raise the exchange rate and its reasons, and the financial storage of Iraq with the Central Bank, pay off Iraq's external debts and the extent of benefiting from foreign loans."

Jawdat explained that "all interrogations from the legal point of view are subject to the conviction of the interrogated person, but the various political and forces refuse to dismiss or protect any person who is benefiting from it." http://burathanews.com/arabic/news/385250

Deputy: We Will Raise The Issues Of Raising The Dollar And The Reserves During The Questioning Of The Governor Of The Central Bank

13:02 - 01/27/2021  The information / Baghdad…Member of the Parliamentary Economic Committee, Nada Shaker Jawdat, revealed, on Wednesday, the parliament’s intention to raise the two issues of raising the exchange rate and the reasons for raising Iraq's financial treasury at the Central Bank.

"The House of Representatives will begin questioning the Governor of the Central Bank of Iraq, Mustafa Schaif, today, and there are no indications to postpone the session," Jawdat said in a statement to / information.

She added that "the questions that Parliament will ask are the main ones, the first of which is to raise the exchange rate and its reasons, and the financial storage of Iraq with the Central Bank, pay off Iraq's external debts and the extent of benefiting from foreign loans."

Jawdat explained that "all interrogations from the legal point of view are subject to the conviction of the questioned person, but the political and the various forces refuse to dismiss or protect any person who is benefiting from it." End / 25d  https://www.almaalomah.com/2021/01/27/517493/

Parliamentary Finance / NINA /: The Budget Will Be Approved Mid Next Week With A Financial Deficit Of 30-35 Trillion Dinars

Wednesday 27, January 2021 10:49 | Political Views: 606  Baghdad / NINA / The Parliamentary Finance Committee announced that the vote on the budget will be in the middle of next week at a financial fee estimated at 30-35 trillion dinars.

”Committee member Jamal Cougar told the Iraqi National News Agency / NINA / that discussions are still continuing on some paragraphs of the budget law, including Deductions for employees' salaries, as there are three proposals in this regard related to deleting this paragraph and replacing deductions by imposing a tax on salary, and determining those included in it without including the categories whose salaries are low.

He stressed that after the Finance Committee raised the price of the barrel and removed unimportant amounts from some budget paragraphs, the financial deficit in the budget decreased and would reach the limits of 30-35 trillion dinars. "/ End 9    https://ninanews.com/Website/News/Details?Key=884353

Today .. Central Bank Sales Of Hard Currency Are On The Rise

Economie| 12:41 - 27/01/2021  BAGHDAD - Mawazine News   The Central Bank of Iraq’s dollar sales today, Wednesday, increased significantly, reaching more than $ 111 million.

The Central Bank of Iraq auction for the sale and purchase of foreign currencies, according to the bank's daily bulletin, saw a rise in its sales to reach 111 million and 266 thousand dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.

The sales went to boost assets abroad in the form of remittances and appropriations amounting to 111 million and 266 thousand dollars, while 1,100,000 dollars were purchased in cash.

Twenty banks responded to requests to boost assets abroad, while four banks met requests to purchase dollars in cash, while the number of mediation companies participating in the auction reached 10.  It is noteworthy that the central bank's sales, on Tuesday, amounted to 58 million 136 thousand dollars. Ended 29 / p4 https://www.mawazin.net/Details.aspx?jimare=139461

In Numbers ... Big Changes In The 2021 Budget

Time: 01/27/2021 14:45:50 Read: 3,055 times   {Baghdad: Al Furat News} A source in the Parliamentary Finance Committee revealed, on Wednesday, the pressure of expenditures in the draft federal budget law for 2021, to reach 127 trillion dinars, and the price of a barrel of oil was raised to $ 45.

The source told {Al-Furat News} that "the Finance Committee, after continuous meetings, pressured expenditures from 164 trillion dinars to 127 trillions."

The source added, "The price of a barrel of oil has been raised from 42 dollars to 45 dollars, and expenditures are recycled to support provincial projects," noting that "the committee is working to complete the budget during the next week to be presented to Parliament for a vote."

It is noteworthy that the Parliamentary Finance Committee has been meeting on a daily basis for about two weeks to complete the discussion and amendment of the 2021 budget bill and has hosted dozens of officials. LINK 

The Exchange Rate Of The Dollar Against The Iraqi Dinar

Pratha News Agency144 2021-01-27   The Iraqi Political Economic Center announced a list of global prices for foreign currencies, gold and oil.     The sale price of the dollar is 146,000   The purchase price of the dollar is 145,000 http://burathanews.com/arabic/economic/385228

The House Of Representatives Fails To Hold Its Session And Postpones It To Next Week

Political| 06:16 - 27/01/2021   The House of Representatives fails to hold its session and postpones it to next week https://www.mawazin.net/Details.aspx?jimare=139518

Dagher: $ 6.5 Billion In Loans Were Wasted In Two Years

Mahmoud Dagher  Money  and business  Economy News – Baghdad

Economist Mahmoud Dagher revealed a waste of 6.5 billion dollars that occurred during the years 2015 and 2016.

Dagher said in a televised interview followed by "Al-Eqtisad News", that Iraq obtained loans from the International Monetary Fund and the World Bank worth 6.5 billion dollars during 2015 and 2016 that were supposed to "go to fill the budget deficit and repair the electricity system."

Dagher added that these loans were completely wasted and not invested, as we still suffer from a significant shortage in the supply of electrical energy.

He emphasized that the problem is not with the loan donors, but rather with the administration of these loans and the way they are spent by the Iraqi government.

He pointed out that "if these loans were spent on supporting local factories and farmers, we would not need more loans."   Number of observations 65 Date added 01/27/2021  https://economy-news.net/content.php?id=23843

Deputy: The Ministry Of Oil Carries Out Tasks Similar To Those Of The Ministry Of Finance

Member of the Parliamentary Finance Committee Naji Al-Saeedi

Money  and business  Economy News – Baghdad  A member of the Finance Committee, Naji Al-Saeedi, said that the Ministry of Oil carried out legal violations by carrying out tasks similar to those of the Finance Ministry.

Al-Saeedi added in a televised interview with Al-Eqtisad News that the Ministry of Oil plays a similar role to that of the Ministry of Finance, and this is problematic for the Iraqi government.

He pointed out that the Ministry of Oil conducts money disbursement and project implementation operations without resorting to or adhering to the general budget, and this is against the law, indicating that this violates the principle of "budget unity", which means that expenditures and revenues must take place in accordance with what is stipulated in the budget law.

With regard to the financial loans for the year 2021, Al-Saeedi confirmed that 2.4 billion dollars of loans will go to the Ministry of Electricity, indicating that giving the Ministry more loans is contingent on its delayed completion of projects.

Number of observations 50 Date added 01/27/2021  https://economy-news.net/content.php?id=23846

Al-Nafil Signs A New Contract With Tuttle To Implement Major Projects In The Oil And Energy Sector

Energy  Economy News _ Baghdad  On Wednesday, the Ministry of Oil signed a memorandum of understanding with the French company Total, while Oil Minister Ihsan Abdul-Jabbar Ismail confirmed the achievement of advanced cooperation steps towards the implementation of large projects in the oil and energy sector.

In a statement, "Al-Eqtisad News" received a copy of it during his signing of a memorandum of understanding with the French company Total, the Minister of Oil affirmed in a statement, "Iraq's keenness to cooperate with international companies to develop the oil and energy sector in a way that achieves future goals and plans." And the history that extends with him to the beginning of the last century, when I participated in the development of the "Baba Gurgur" field in Kirkuk.

Ismail said, "This memorandum is the culmination of a series of discussions and discussions that began six months ago, aiming to reach an ideal cooperation to achieve the ministry's plans in developing the oil and energy sector, especially in projects for optimal investment of gas, clean energy, infrastructure, and others."

The minister revealed, "The concerned authorities in the ministry put the final touches with Total for the axes of joint cooperation and reaching a formula for contracts that achieve common goals," referring to "the great support provided by the government and the Prime Minister to the oil and energy sector, and directives to provide the appropriate environment for the work of international companies."

For his part, the CEO of the French Total Oil Company, Patrick Pouyanné, expressed his "happiness with this cooperation with the Ministry of Oil and its national companies," stressing his company's desire and aspiration to achieve further cooperation and real partnership with Iraq, while expressing his "hope that a number of Investment contracts in the oil and energy sector during the coming period, including gas investment and converting it into useful energy in large quantities.

The Minister of Oil was accompanied by the CEO of the French company Total and his accompanying delegation. On Tuesday, he toured a number of oil and gas fields and sites in Basra Governorate. With the participation of the Undersecretary for Distribution Affairs Hamid Yunus, Director General of the Economic Department, Director General of the Studies and Planning Department, and a number of officials in the Basra Oil and Southern Gas companies.

Number of observations 85 Date added 01/27/2021  https://economy-news.net/content.php?id=23840

The International Development Bank Achieved A Profit Of More Than 16 Billion Dinars During The Past Year

Banks  Economy News – Baghdad  The International Development Bank achieved a profit of more than 16 billion dinars during the year 2020.  According to the financial budget of the International Development Bank, the bank achieved 16.15 billion dinars during the year 2020, while the financial revenues during the year 2020 amounted to 62.4 billion dinars.  The total expenditures during the past year amounted to 46.2 billion dinars.

Number of observations 50 Date added 01/27/2021  https://economy-news.net/content.php?id=23849

The Stock Market Closes 0.66% Lower

Iraqi Stock Exchange «Economy News»  Market  Economy News – Baghdad The Iraqi Stock Exchange closed today, Wednesday, 0.66% lower.

Investors traded shares of 22 companies, out of the 104 companies listed on the stock exchange, whose main index closed at 488.44. The traded shares reached 455.4 million shares, valued at 655 million dinars.

Shares purchased from foreign investors reached 952,000 shares, worth 3 million dinars, while foreigners sold 28 million shares, at a value of 50 million dinars.

The shares of product transportation companies and Baghdad of Iraq for general, chemical and plastic transport companies made the most profitable, while the shares of Al-Khair Investment and Furniture Industries and the Middle East Bank lost.    Number of observations 40 Date added 01/27/2021

https://economy-news.net/content.php?id=23850

Governmental Clarification On The Mechanism Of Obtaining Loans From The International Monetary Fund

Economie| 11:51 - 01/27/2021 Baghdad - Mawazine News, Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, explained, on Wednesday, the mechanism for obtaining loans from the International Monetary Fund.

Saleh said, according to the official agency, said that "part of the loan that gets by Iraq from the International Monetary Fund called by means accelerating funding, pointing out that" the fund when he sees any country has a deficit of large current account balance of payments is to provide a soft loan. "

He added, “The loans that he will receive were two billion dollars, and there are four billion more, stressing that these loans come to reform the Iraqi economy.

” And he stated, “The white paper is consistent with any reform program, this depends on the money that comes from the IMF, pointing out that the money It is called precautionary, meaning that when Iraq needs, it is withdrawn according to its need. "

He pointed out, "Iraq has conducted about five agreements with the International Monetary Fund after 2003, three of which are credit readiness, one after conflicts, and another called the Staff Monitor, stressing that they were successful agreements."

He continued, "There is continuous cooperation between Iraq and the International Monetary Fund, as Iraq is a founding country of the Fund since 1945 and it is an active and important member in the Middle East region." Ended 29 / A 43 https://www.mawazin.net/Details.aspx?jimare=139450

Al-Baker: We Seek To Export The Iraqi Industry After Increasing Production

Economie| 01:37 - 01/27/2021  BAGHDAD - Mawazine News  , Minister of Industry, Manhal Al-Khabaz, affirmed that it is seeking to export Iraqi household appliances after increasing production.

Al-Baker said, "One of the light industries production lines has been officially opened in the General Company for Light Industries," noting that "this company is old and used to work in the past, and reproduction is reassuring."

"The company now produces all kinds of freezers, refrigerators, mannequins, refrigeration, oil heaters and some cookers in various forms," ​​he added, pointing out that "there are a number of affiliates and production lines working hard and aggressively to restore Iraqi production and this production is highly acceptable."

The news confirmed that "improvement and increase in production and beautiful additions in the form of the product and the increase in efficiency and capacity were spoken with the company's management," indicating in his saying: "

Al-Baker added, "The current production is 180 pieces per day and can be increased, and this depends on withdrawal and purchase."    https://www.mawazin.net/Details.aspx?jimare=139473

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