Sunday Morning Iraq Economic News Highlights 5-14-23
Sunday Morning Iraq Economic News Highlights 5-14-23
Vian Sabri To / Nina /: The Budget Problems Have Been Resolved .. And Approval Will Take Place Soon
Sunday 14 May 2023 13:00 | Economical Number of readings: 64 Baghdad / NINA / - The head of the Kurdistan Democratic Party parliamentary bloc, Vian Sabri, confirmed: Parliament will approve the federal budget soon.
She told the National Iraqi News Agency / NINA /: The budget will be approved during the current month, especially since the political forces in the State Administration Alliance stressed the importance of passing it during this month.
Sabri added: All problems of the federal budget have been resolved in general..and the approval will be according to what was agreed upon.
And Deputy Speaker of Parliament Shakhwan Abdullah confirmed today in a statement: The Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024 and 2025, and a vote on the federal budget law will take place this week.
Abdullah added: The House of Representatives will hold a special session to approve and approve the general budget law, because it is an important law and citizens in all governorates of Iraq are waiting for it./ End 3 To receive more news, subscribe to
The Iraqi Parliament Will Hold A "Special" Session To Vote On The Budget This Week
2023-05-14 Shafaq News/ Deputy Speaker of Parliament, Shakhwan Abdullah announced, on Sunday, that the parliament will hold a special session this week to vote on the general federal budget bill.
Abdullah said in a statement received by Shafaq News agency, "The Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024 and 2025, and the vote on the federal budget law will take place this week."
He explained, "The House of Representatives will hold a special session to approve and approve the general budget, because it is an important law and citizens in all governorates of Iraq are waiting for it." LINK
The Central Bank Governor Comments On The Recent Rise In The Dollar Exchange Rate
Economy News – Baghdad The Governor of the Central Bank, Ali Al-Alaq, affirmed, on Saturday, the follow-up of the exchange rate situation and the development of appropriate solutions to any problems, and while he referred to the implementation of purchase requests from merchants and citizens as a whole, he pointed out that those who refrain from buying from official platforms may have problems and illegal dealings.
Al-Alaq said in a statement to the Iraqi News Agency that "the central bank has a daily follow-up of the dollar exchange rate to find out all the factors related to the exchange rate and any influences on the price."
He added, "The Central Bank is trying to find solutions to it and the appropriate channels, and we are walking close to the market to identify the problems that occur in order to set the price in its official direction."
He explained that "the Central Bank implements the purchase requirements and the needs of all citizens from the dollar, and each price remains outside the official price, either for speculation or for illegal actions."
He pointed out, "Whoever goes to buy the dollar from the black market at a price higher than the official one, despite the availability of the official one through the approved platforms, there may be problems in the transactions that he performs." Views 1126 05/13/2023 - https://economy-news.net/content.php?id=34180
Continuous Rise In Dollar Prices In Stock Exchanges And Exchanges In Baghdad
Economy |Baghdad today – Baghdad Today, Sunday, the exchange rates of the dollar against the dinar recorded an increase in the main stock exchange and local markets in the capital, Baghdad.
The (Baghdad Today) correspondent said, "The exchange rate of the dollar for today, on the stock exchange, reached 146,500 Iraqi dinars for every 100 dollars."
He added, "The selling price amounted to 147,500 dinars per 100 dollars, and the purchase price amounted to 145,500 dinars per 100 dollars in local exchange offices." LINK
Agreement To Include Petrodollar Amounts For All Governorates Within The Budget
Information/Baghdad.. A member of the Parliamentary Oil and Gas Committee, Ali Al-Lami, announced, on Sunday, the agreement to include the payment of petrodollar dues to oil-producing governorates for all governorates.
Al-Lami said in an interview with Al-Maalouma agency, "It is the right of the oil-producing governorates to claim the petrodollar sums and obtain them as compensation for the incurred damages."
He added that "there is an agreement to collect the former petrodollar funds owed by the federal government and current funds and include them in the budget."
And he stressed the need to "develop the final formulas of the proposed paragraphs to ensure the payment of the dues of the oil-producing governorates, especially the central and southern governorates of petrodollars, and to increase the allocation of the necessary sums," noting that "the budget includes paying the dues of the oil-producing governorates from the previous and current petrodollars."
The Deputy Speaker of the House of Representatives, Shakhwan Abdullah, had confirmed the parliament's intention to vote on the federal budget law this week.
Abdullah said, in a statement received (information), that "the Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024, and 2025." LINK
To Discuss Budget Allocations.. Parliamentary Finance Hosts 3 Ministers Today
Policy 2023-05-14 | 306 views Alsumaria News – Politics The Parliamentary Finance Committee will host today, Sunday, three ministers to discuss the requirements and obligations of the appropriations file in the budget.
The head of the Parliamentary Finance Committee, Atwan Al-Atwani, said in a statement received by Alsumaria News Today, the Ministers of Electricity, Health and Defense will be hosted to discuss the requirements and commitments of their ministries and to review the file of allocations for each ministry in the budget and its development plans.
Today, Sunday, the Presidency of the House of Representatives set the date for voting on the 2023 budget law, while indicating that it will be decided during the current week.
Deputy Speaker of Parliament Chakhwan said in a statement received by Alsumaria News The Finance Committee is scheduled to complete its final report on the draft federal budget law for the years 2023, 2024 and 2025.
He added, "The federal budget law will be voted on this week, and the House of Representatives will hold a special session to approve and approve the general budget, because it is an important law and citizens in all governorates of Iraq are waiting for it."
And the Finance Committee announced, yesterday, Saturday, the completion of the discussion of the items of the general budget 2023.
And the Media Department of the House of Representatives stated in a statement received by Alsumaria The Finance Committee, headed by Atwan Al-Atwani, continued its meetings through the sub-committees for reading the items and following up the schedules, in preparation for submitting them to vote, as the committee stressed the need to follow up on the exchange authorities after approving the budget in accordance with the legal frameworks, to come out with a result that meets the aspirations of the Iraqi people, as it directly affects the lives of citizens. ".
The statement added, "The Special Committee for the Study of the Items completed reading the legal texts contained in the budget and presenting visions and ideas in order to maximize the revenues of the state's public treasury, in addition to discussing the allocations of the Vehicle Fees Law for the maintenance of roads and bridges, the distribution of amounts according to spending agencies, and the estimation of revenues, stressing the importance of the approach." Towards supporting the private sector and encouraging national industries to employ the labor force and eliminate unemployment through setting legal paragraphs and texts that support the national product within the budget.
He pointed out, "The committee checked the listed tables to study the amounts allocated for service and commodity supplies, special programs, electricity and water fees, and gas imports, as well as allocations for the school feeding program, and discussed them scientifically and expressed views to ensure that they reached their places, and hosted those concerned in this regard." .
The committee affirmed, according to the statement, "its keenness to adhere to the accuracy of making transfers between spending units, and transferring financial amounts as needed, with knowledge of all exchange chapters contained within the schedules of the Federal General Budget Law, and an emphasis on increasing the allocations of poor governorates for the implementation of service projects." LINK
Al-Nusairi: The Fluctuation Of The Exchange Rate In The Parallel Market Is "Temporary" And Will Decrease Soon
Market Economy News – Baghdad Samir Al-Nusairi, advisor to the Iraqi Private Banks Association, confirmed that the current rise in the dollar exchange rate in the parallel market is "temporary" due to speculators and other reasons, most notably the non-entry of some retailers to the electronic platform for external transfer and the non-compliance of some banking companies with the official rate set by the Central Bank.
Al-Nusairi added, in a televised interview, that "the Central Bank follows up and monitors in cooperation with the concerned government agencies, and will issue severe penalties in accordance with the law for anyone who proves to be harmful to the national economy and insists on dealing with the parallel price in any way."
He explained, "The Central Bank is working to diagnose and study the causes and obstacles to entering the electronic platform and trying to make possible facilities and flexibility for the purpose of accelerating external transfers in banks, in the Central Bank, and in international banking agencies related to ensuring that foreign currencies reach the real and final beneficiary."
Al-Nusairi urged all government agencies, wholesalers and businessmen to "deal locally with the Iraqi dinar as it is strong and recovers its purchasing power, in addition to that it represents an essential pillar of national sovereignty."
Al-Nusairi concluded his speech by saying, "The Central Bank constantly announces the possibility of securing the dollar in the required quantities for everyone who needs it at the official price of 1320 dinars per 100 dollars through the only way, which is the electronic platform of the Central Bank."
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