Friday AM Iraq Economic News Highlights 9-16-22

Oil Is Heading For A Weekly Loss

Economie   2022-09-16 | 03:15   536 views   Oil prices rose today, Friday, and crude prices are heading towards recording a weekly loss in fears of global demand for black gold.

By 09:40 Moscow time, US crude futures "West Texas Intermediate" rose 0.27% to $85.33 a barrel.

Brent crude futures rose 0.35% to $91.16 a barrel, according to Bloomberg website data.

Investors are preparing to raise the interest rate by the US Federal Council next Wednesday, after US inflation data, which will cast a shadow on oil prices.   LINK

Dollar Exchange Rates For Today

Economie   2022-09-16 | 03:32   1,836 views   Alsumaria News – Economy   The dollar exchange rates stabilized today, Friday, on the Iraqi Stock Exchange.

The selling prices of the dollar were 147.850 dinars per 100 dollars, while the purchase prices of the dollar were 147.750 dinars per 100 dollars.   LINK

Gold Prices In The Local Markets

Economie  2022-09-16 | 01:20  1,221 views   Alsumaria News publishes gold prices in the local markets, on Friday, according to the monitoring of specialists.  LINK

Slight Increase In Oil Prices

Economie   10:33 - 09-16-20 2022  Oil prices rose today, Friday, but they are heading towards recording a weekly loss in fears of global demand for black gold.  US West Texas Intermediate crude futures rose 0.27% to $85.33 a barrel.  Brent crude futures rose 0.35% to $91.16 a barrel, according to Bloomberg website data.

Investors are preparing to raise the interest rate by the US Federal Reserve next Wednesday, after US inflation data, which will cast a shadow on oil prices.    https://kirkuktv.net/AR/Details/8933

 The General Secretariat Addresses The Ministry Of Finance To Release The Financial Dues For Scientists

Iraq   12:03 - 09-16-2022  Today, Friday, the General Secretariat of the Council of Ministers announced that it has addressed the Ministry of Finance to release the financial dues for scientists, while it clarified about the decision to promote the holders of preparatory certificates.

The secretariat’s spokesman Haider Majid said, “The General Secretariat of the Council of Ministers addressed the Ministry of Finance to adhere to what was stated in the Cabinet’s decision regarding the release of financial dues to scientists,” noting that “the decisions of the Council of Ministers are enforceable, since the General Secretariat of the Council of Ministers is the coordinating body and the executive arm of the Council of Ministers. It follows up the implementation of the decisions of the Council of Ministers and the directives of the Prime Minister.

He added that "the Ministry of Finance is obligated to implement the decision of the Council of Ministers, according to what was stated in the response of the General Secretariat of the Council of Ministers to the ministry."

And regarding the decision to promote the holders of middle school certificates, Majid said that "this decision was issued during the cabinet session before the last," noting that "it came after many appeals from the holders of middle school certificates, to do justice to them and remove injustice from them over the previous years." https://kirkuktv.net/AR/Details/8935

Product And The Volume Of Total Spending For The Current Year

Economie| 07:33 - 09/15/2022   Baghdad - Mawazine News, Haitham Al-Jubouri, technical advisor to Prime Minister Mustafa Al-Kazemi, determined today, Thursday, the value of government and private domestic product for the current year, and while he expected the volume of total spending for this year, he revealed projects to increase non-oil revenues.

Al-Jubouri said, "The volume of domestic product for the public and private sectors for the year 2022, according to current oil prices, will not exceed $300 billion," noting that "the government is currently spending according to the exchange rule 1/12 of last year's budget, in addition to what was allocated in the Food Security Law." .

He added, "What was allocated from food security amounted to 25 trillion dinars, in addition to 103 trillion dinars spent last year 2021, as it is a base we rely on, so that the total amount disbursed by the end of this year is 128 trillion dinars, which is equivalent to 88 or 89 billion dollars." He pointed out that "the government's output alone will range approximately, according to the current oil prices, from 145 to 155 billion dollars at the end of the year."

On the government's steps to provide additional non-oil resources, he explained that "there are efforts to activate the transit of goods through Iraq and the port of Faw, as well as the completion of plans and designs for new railways linking northern and southern Iraq by an Italian company, and these will increase revenues, and other steps to complete the automation of border crossings and the relationship Between the currency sale window, customs, and tax, which is supposed to be reflected in the increase in revenues, in addition to political and security stability, "explaining that"

Al-Jubouri stressed, "the necessity of conducting a population census to make it clear the numbers of segments of society accurately, especially since the Financial Management Law stressed the need for the budget to be based on gender," noting that "determining the proportion of women, the elderly, children and youth is very important according to the expected census."

With regard to the government's efforts to reduce the effects of population growth on the country's economy, al-Jubouri said, "The growth is continuing, and we should be guided by accurate numbers that we are waiting for from the housing census so that we can rely on them in decision-making."

And he added, "Iraq is considered one of the very advanced countries in the process of population growth, which reaches an annual rate of 3%, while globally it reaches under half a percent," noting that "this needs an increase in spending and the provision of services, and many plans are parallel to this increase." Ended 29/9 https://www.mawazin.net/Details.aspx?jimare=205562

The Iraqi Stock Exchange Announces The Weekly Trading Indicators

Economie| 04:20 - 09/15/2022   Baghdad - Mawazine News   Today, Thursday, the Iraqi Stock Exchange announced the trading indicators for the current week.

And the market stated in a statement received by / Mawazine News / a copy of it, that "during the current week, it organized 5 trading sessions from Sunday 11/09/2022 to Thursday 15/09/2022."

He added that he checked during this following week; The number of traded shares reached more than (3) billion shares, and the value of traded shares amounted to more than (5) billion dinars.

He continued that “the market trading index for the first session of the week closed at (588.92) points, while the index closed at the end of the week at ( 596.07 points, achieving an increase of 1.20% from its closing at the beginning of the session, while more than (2500) buying and selling contracts were executed in the same period on the shares of companies listed in the market. https://www.mawazin.net/Details.aspx?jimare=205544

Iraq And Syria Are Discussing A Number Of Issues Related To The Waters Of The Two Countries

2022-09-16 | 04:55   153 views   Today, Friday, Minister of Water Resources Mahdi Rashid Al-Hamdani met with Syrian Prime Minister Hussein Arnous, in the presence of the technical representative authorized with the powers of the Minister of Environment Jassem Abdel Aziz Al-Falahi, the Syrian Minister of Water Resources Tammam Raad and the Iraqi charge d'affaires in Damascus Yassin Sharif.

The  Ministry of Water Resources[/url] stated in a statement received by Alsumaria News, that "during the meeting, they discussed common issues between the two countries in water and environmental affairs in light of the challenges of declining water imports and extremism of climate change and their negative effects on reducing agricultural areas and irrigation projects and the need for coordination of joint work between the two countries to harness Science and technology, exchanging experiences, enhancing training areas, and unifying discourse in international forums in order to obtain the two countries' water rights from upstream countries."

The ministry explained that "the meeting also discussed the importance of expanding horizons of cooperation to include broader areas such as exchanging data, establishing joint monitoring stations and research applications to achieve integrated management of water resources in a sustainable manner and adapt to climate changes." LINK

L-Kazemi's Advisor Talks About The Housing Crisis And Confirms: Corruption Has Disrupted Projects

Sumerian special   2022-09-15 | 14:40  Source:  Alsumaria news   7,060 views   Adviser to the Prime Minister for Reconstruction Affairs, Sabah Abdul Latif, confirmed that Iraq needs 3 and a half million housing units to address the housing crisis, stressing that corruption had a major role in disrupting large urban projects and investment, while noting that Salah al-Din is witnessing a political struggle that disrupts reconstruction.

Abdul Latif said in an interview with the "Oana" program broadcast by Alsumaria satellite channel, that "Iraq needs 3 and a half million housing units to address the housing crisis," explaining that "the government has started implementing projects to alleviate the crisis, including the Dari project, which will provide 550 thousand housing units through 17 locations in Iraq, and there is the Sadr City project, which provides 91,000 housing units through the Iraqi-Chinese agreement."

He added that "housing loans are one of the government's means to solve the housing crisis, and the Central Bank's housing initiative is one of them," noting that "residential areas suffer from urban distortion significantly, and the general situation in the country is responsible for this phenomenon," explaining that "there is a plan to preserve landmarks."Baghdad Such as the suspension bridge, the royal cemetery, Tahrir Square, and others.

” Abdul Latif pointed out that “the project to develop Tahrir Square was subjected to several criticisms, including the alabaster, which was covered with the monument in terms of color and quality,” noting that “the Turkish company donated the project as a kind of response to the projects that carried out in Iraq".

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He stressed that "the implementation of projects to solve traffic congestion in the capital has been started, including the Hawally Road, which will solve 35% of the congestion, which will be implemented by Amanat.

"Baghdad In addition to a project to develop entrances Baghdad The five that were implemented under the supervision of the Ministry of Housing and Construction and the governorate of Baghdad Abdul Latif stressed that "corruption played a major role in disrupting large urban projects and investment," stressing that "investment in the agricultural and industrial sector in Iraqnon-existent.”

And between that “Supreme Committee for ages Mosul It started its work by allocating a specific budget to implement reconstruction Mosul Through the riverfront reconstruction projects and old City   He pointed out that "the governorates of Anbar, Diyala and Salahaddin  It has many projects for its reconstruction through the Reconstruction Fund for the Liberated Areas," noting that the governorate of  Salahaddin  It is witnessing a political struggle that disrupts the wheel of reconstruction."

Abdul Latif noted that "there is a plan to develop the old city in Najaf because of its great religious, literary and historical importance," noting that "a municipal department specialized in the city was formed and foreign companies were invited to set a clear vision to discuss the mechanism for implementing the city's development."    LINK