Saturday AM Iraq Economic News Highlights 8-13-22

Economist: Disrupting Budget Approval Destroys The Iraqi Economy

Posted On2022-08-12 By Sotaliraq   Today, Friday, the economic expert, Mahmoud Dagher, stressed that approving the country’s general budget is still an urgent necessity to support the Iraqi economy, as the food support law did not cover all aspects, specifically the investment aspect, which is one of the most important aspects in the budgets.

Dagher said, "Disrupting the approval of the budget destroys the Iraqi economy because it negatively affects important sectors that need large investment projects, and at the forefront of those sectors is electricity, which needs projects in production, transportation and distribution, as well as public transportation methods."

Noting that "the public roads, particularly those linking the center and south with the Kurdistan Region, are very bad, and the presence of negatives in those roads not only affects the high rate of accidents, but also raises the price of goods due to the high risk of being damaged."   LINK

After The Budget Was Delayed, The Fate Of The Salaries Of Employees And Retirees Was Revealed - Urgent

2022-08-13 | 04:54   Source:  Alsumaria news   6,172 views     And earlier, legal expert Jamal Al-Asadi confirmed in a tweet on Twitter: “There is no legal text in the Financial Management Law that allows the disbursement of any money from spending units to finance budget expenditures after the end of the fiscal year in which there is no budget at all, and therefore we are in a legislative vacuum. It is very possible that all expenses, including employee salaries, will stop from January of 2023.”   LINK

Al-Saadi: The Employees' Salaries Are Secured And Their Disbursement Cannot Be Stopped In Any Way[/Size]

Political | 09:18 - 13/08/2022   Baghdad - Mawazine News  : The resigned deputy from the Sadrist bloc, Ali Hussein Al-Saadi, confirmed, on Saturday, that the employees' salaries are fully insured.

Al-Saadi said in a statement seen by Mawazine News, "A paid trumpet comes out from time to time whose aim is to mislead public opinion in a desperate attempt to spread malicious rumors to achieve suspicious goals."

Al-Saadi added: "A media statement was issued by one of those trumpets recently, warning against stopping the payment of employees' salaries on the pretext of delaying the formation of the government," stressing that "the salaries of employees are secured and their disbursement cannot be stopped in any way, even if the government is not formed or the general budget of the country is approved."

Al-Saadi explained that "it is possible to disburse salaries and run the rest of the state's affairs through the effective financial management law that the country is going on according to the principle of 1 / 12 disbursement," noting that "the salaries of employees were disbursed despite the absence of a budget as well as this year with a caretaker government. current business". Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=202270

The Dollar Rises Against The Iraqi Dinar

Economie| 11:01 - 13/08/2022   Baghdad - Mawazine News  The dollar exchange rates witnessed, today, Friday, a slight increase in the Iraqi Stock Exchange.

And the selling prices of the dollar were 148,600 dinars per 100 dollars, while the purchase prices of the dollar were 148,500 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=202279

The Ministry Of Construction Reveals The Percentage Of Completion Of The Baghdad-Kirkuk Road Maintenance Project

Iraq   11:19 - 2022-08-13  Today, Saturday, the Ministry of Construction, Housing and Public Municipalities confirmed the continuation of its engineering and technical staff to implement the project to rehabilitate and maintain the Baghdad-Kirkuk road, noting that the road was badly damaged as a result of loads and terrorist acts.

And the ministry’s media center said in a statement, “The ministry, in the interest of road pedestrians and their safety, referred it to several sections. The first section starts from Baghdad towards the Khalis district, with a length of 32 km (back and forth), where the road is exposed and burial work is carried out with layers of dirt and layers of gravel layers for an area. exposure".

The statement added that "the second section extends from Al-Khalis towards Al-Azim with a length of 50 km, and from Al-Azim towards Najana with a length of 30 km (back and forth), and the works included removing the damaged parts, grooves, scraping the return corridor, and compensating the stone layer with the sandbar, in addition to completing 14 bridges completely. Work continues on the remaining ten arches.

He explained that "the third section extends from Najana - Khurmatu (Al-Zuha corridor) with a length of 46 km, where scraping works were completed for 20 km of the road, in addition to cleaning and wiring 38 bridges and 30 manholes with an 18 km asphalt modification layer."

The statement continued, "The length of the fourth section is 162 km and extends from Khurmatu district to Kirkuk with a length of 58 km for the back and forth corridors, and from Najana to Al-Tuz with a length of 46 km for the return corridor only, where parts of the road are exposed and work is underway with earthworks, and compensatory stone works for the uprooted areas.

The work of arches and pouring sections of the road, including the entrance to the city of Khurmatu, and the work of brushing the corrective layer for a section of the road began.  https://kirkuktv.net/AR/Details/8157

The Federal Court will consider the constitutionality of the Food Security Law next Monday

Shafaq News/ The Federal Court (the highest judicial authority in Iraq) will hold the first special session on Monday to consider a case regarding the Emergency Support Law for Food Security and Development.

The Iraqi Council of Representatives, in its session held on June 8, in the presence of 273 deputies and headed by the Speaker of the Council, Muhammad al-Halbousi, voted on the law (emergency support for food security and development) in general.

And the Federal Court stated in a schedule of its tasks seen by Shafak News Agency, that "the court will hold a special session on Monday, August 15, 2022, to consider the case to challenge the constitutionality of some articles of the Emergency Support Law for Food Security and Development."

She explained that the plaintiff (in the name of Khazal Khashan) and the defendant, the Speaker of Parliament (Mohammed al-Halbousi), in addition to his job.   LINK

A Slight Decrease In The Exchange Rates Of The Dollar In Baghdad

Shafaq News/ The exchange rates of the US dollar decreased slightly against the Iraqi dinar, on Saturday, in the main stock exchange in the capital, Baghdad.

Shafak News Agency correspondent said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning 148,550 Iraqi dinars, compared to 100 US dollars, while the prices recorded last Thursday were 148,600 dinars.

Our correspondent indicated that buying and selling prices have stabilized in banking shops in the local markets in Baghdad, where the selling price amounted to 149,000 dinars per 100 dollars, while the purchase prices amounted to 148000 dinars.

In Erbil, the capital of the Kurdistan Region, the dollar exchange does not trade on official holidays, but the exchange shops in the local markets traded the dollar, as the selling price reached 148,600 dinars for every $100, and the purchase price was 148,500 dinars for $100.    LINK

Looting Misses Japanese Loan For Basra Water Desalination Project

Baghdad / Obelisk: Documents and maps, 10/8/2022, revealed the existence of great corruption suspicions in the Basra water desalination project in the Hartha area, which is funded by a Japanese loan and the Iraqi government.

According to the documents, the works of the first phase of the project have been reduced, which included extending a network of transmission lines for 13 sectors to become a single line that reaches Saad Square, Al-Ashar neighborhood, and back to the Al-Maqal area, which means deleting about 75 percent of the project, which indicates To the existence of a corruption deal that allows the executing company to take possession of the funds allocated for this stage.

According to the maps, the works of the first phase include extending the network of transmission lines to 13 ZOON sectors covering all areas of the center of Basra Governorate and Al-Haritha district, and access to fresh water, but another map shows that the project management, in coordination with the consulting company and the executing company, canceled these sectors and was satisfied with a transmission line One passes along Baghdad Street in the governorate, and reaches Saad Square (central Basra), and ends with the official liquefaction water network, which is supposed to be replaced by the new network of the project. https://almasalah.com/archives/10071