Iraqi News Saturday AM 12-18-21
Iraqi News Saturday AM 12-18-21
TLM724 Administrator BondLady’s Corner
An advisor to Al-Kazemi bets the improvement in the value of the dinar on several conditions
Posted On 2021-12-18 By Sotaliraq Mazhar Muhammad Salih, Advisor to the Federal Prime Minister for Financial Affairs, mortgaged the improvement of the value of the dinar on several conditions that must be met and met.
Mazhar Muhammad Salih said that the improvement in the value of the Iraqi dinar is related to the ability of the economy to grow if significant growth is achieved in the economy and not rent growth, pointing out that expectations indicate a current growth of 2.5%, and this growth parallels the growth of the real population.
He added, that this needs the right development, reducing unemployment, increasing job opportunities, and flourishing investment projects, which encourage and generate income that compensates for oil, and gives sustainability in returns and sustainability with the strength of the economy.
He also showed that there are two important matters, the first is monetary policy that maintains the stability of the exchange rate and creates a stable environment for a long period, and the second is to support investment projects for development and growth, because without growth the situation will be bad. LINK
The stability of the dollar exchange rate against the dinar
Economie| 10:21 - 18/12/2021 Baghdad - Mawazine News , today, Saturday, the dollar exchange rates maintained their stability in the local markets.
And the selling prices of the dollar were recorded at 148,500 dinars per 100 dollars, while the purchase prices of the dollar were 148,000 dinars per 100 dollars.
https://www.mawazin.net/Details.aspx?jimare=178792
Al-Kazemi’s Advisor: The 2022 Budget Depends On The Formation Of The New Government
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the legislation of the 2022 budget depends on the formation of the new government.
Saleh told the Iraqi News Agency, "The Iraqi fiscal year ends at the end of December 31, and the effective financial management law begins directly, that is, from the first day of January 2022, with spending at a rate of 1/12 of the actual ongoing expenditures for the year 2021."
He added, "This will continue until the issuance of the Federal General Budget Law for the year 2022, at which point the allocations are modified according to the new entitlements included in the legislated budget," noting that "the legislation of the Budget Law for the year 2022 depends on the date of the formation of the government and the upcoming parliament in all cases. ".
https://www.radionawa.com/all-detail.aspx?jimare=27135
Planning Agrees To Double The Budget Of The Dhi Qar Reconstruction Fund
Saturday 18 December 2021 13:08 | economic Number of readings: 234 Baghdad / NINA / - The Dhi Qar Reconstruction Fund announced, on Saturday, the approval of the Ministry of Planning to double the financial transfers of the fund's budget to reach 100 billion dinars within the allocations for the year 2021.
A statement by the Fund stated, "The Ministry of Planning agreed to double the amount of new financial transfers to the budget of the Reconstruction Fund to 100 billion dinars, after it was 50 billion," adding that "this financial transfer contributed to increasing service projects to 29 additional projects."
The statement added that "the current budget of the province amounted to 805 billion dinars." /finished8
https://ninanews.com/Website/News/Details?key=945528
Last week, Iraq's oil exports to America decreased
Economie| 11:39 - 18/12/2021 Follow-up - Mawazine News, the US Energy Information Administration announced, on Saturday, that Iraq's oil exports to the United States decreased by more than 88 percent, reaching an average of 29,000 barrels per day during the past week, down from the previous week, in which the average Iraqi exports amounted to 248,000 barrels per day. .
The US administration said, in data seen by Mawazine News, that "the average imports of crude oil during the past week from nine countries amounted to 5.869 million barrels per day, an increase of 57 thousand barrels per day compared to the previous week, which amounted to 5.812 million barrels per day."
She pointed out that "most of America's oil revenues during the past week came from Canada, at a rate of 3.
According to the administration, "the amount of US imports of crude oil from Nigeria reached an average of 217,000 barrels per day, followed by Russia at a rate of 107 thousand barrels per day, then Trinidad and Tobago came with 51,000 barrels per day." https://www.mawazin.net/Details.aspx?jimare=178808
Basra Crude Records Weekly Losses And Closes At $73.90 A Barrel
Economie| 10:07 - 18/12/2021 Follow-up – Mawazine News: Basra Light crude prices declined, posting a weekly loss of 1.43%, while oil prices fell in general after the increase in cases of the “Omicron” variable, which raised fears of new restrictions that harm the demand for fuel.
Basra Light crude contracts closed at $73.90 a barrel, down $1.83, or 1.90%, to achieve a weekly loss of $1.07.
Brent crude futures ended the session down $1.50, or 2%, to $73.52 a barrel, while US West Texas Intermediate crude fell $1.52, or 2.1%, to $70.86 a barrel. Brent fell 2.6% on a weekly basis, and WTI fell 1.3%. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=178789
Made In Iraq Tops The Attention Of The Muthanna Chamber Of Commerce And Its Investment Authority
Saturday 18 December 2021 187 Morning: Kazem Al-Hinnawi The Director of the Muthanna Chamber of Commerce, Statistics Shukri al-Jubouri, called for holding an expanded meeting with the aim of strengthening the call for the success of the “Made in Iraq” program, in cooperation with specialized agencies and national companies, and under the auspices of the Ministry of Industry and the Ministry of Commerce for Promotion and Marketing, as well as the federal and local investment authorities to discuss investment opportunities for productive projects and enhance cooperation between companies. productivity inside and outside Iraq.
Al-Jubouri indicated the importance of benefiting from the exchange of experiences and encouraging national industries to entice consumers to buy locally produced goods and to develop exports to global markets according to approved international standards.
Al-Jubouri added in an interview with (Al-Sabah) that in the presence of a number of members of the Chamber, including traders, industrialists and businessmen, the invitation for this meeting comes out of strengthening the Chamber’s role in the economic and development process and its great keenness to communicate and open prospects for joint cooperation with specialized counterparts from local government agencies and representatives of investment bodies of countries Sisterly and friendly, in addition to the interest and inviting investors from those countries to invest in Iraq to advance the basic and main pillars of economic development.
Al-Jubouri praised the role of officials of the Ministries of Trade and Industry and the central and local investment authorities, the size of the national responsibility, and the focus on the “Made in Iraq” program with the aim of raising purchasing power and enabling them to increase consumption of the local product of goods and services in local markets.
He referred to what the director of the Chamber spoke during the meeting organized by the Muthanna Chamber of Commerce with a number of its members as part of the Chamber's initiative to create investment opportunities for the production of local goods, enhance competitiveness, and actually contribute to strengthening the Iraqi industrial sector and attracting investments.
Al-Jubouri renewed the Chamber’s firm affirmation and commitment to fulfilling and paying attention to the content of the distinctive trademarks and (Made in Iraq), whose administrative procedures are adopted by the Ministry of Industry, with the importance of choosing the names in the Chamber’s commercial registry to be able to promote, market and attract local products and create a stimulating environment and Iraqi economic growth.
For its part, the Muthanna Investment Commission granted initial approvals to establish the largest construction industry projects at the level of Iraq, with a value of (20) billion dollars.
The Director-General of the Muthanna Investment Commission, Adel Dakhil Al-Yasiri, said that the local government and the Investment Commission in the province had given initial approvals to implement the largest construction projects in Iraq.
Dr. Ibrahim Al-Sumaidaie, the authorized representative of an international group of companies, said that we are ready to start work as soon as the official approvals are completed, as the first phase will include five projects worth two billion dollars, including a factory for floors and nano-crystal porcelain, with a production capacity of (32,000) m2 / day, and a factory for wall ceramics.
And the facades with a capacity of (36 thousand) m2 / day, and the Sanitary Ware Factory Anti-Colzy with a capacity of (360) m3 / day, and a ceramic factory for gilded accessories, micro-crystal titanium vacuum cold, with a capacity of (108) thousand m2 / month, and a factory of paper and cardboard with a capacity of (125) Million cartoons per month.
In addition to six other projects and a power plant with a capacity of (1000) megawatts, which will be within the second phase of the project, the total value will reach twenty billion dollar.
Noting that (40%) of the projects' production will fully cover the country's needs, while it will allocate (60%) of the total production to export abroad. LINK
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