Thursday Evening Iraq Economic News Highlights 7-14-22

Masrour Barzani: Our efforts are continuing to resolve outstanding problems with the federal government

Posted On2022-07-13 By Sotaliraq   Masrour Barzani: Our efforts are continuing to resolve outstanding problems with the federal governm 673560Image1The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, confirmed that "we have overcome difficult crises and Baghdad has not sent the dues of the Kurdistan Region," noting that "administrative and financial reforms have doubled internal revenues by 100 percent."

The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, said in a speech he delivered today, Wednesday (July 13, 2022), on the occasion of the three-year anniversary of the formation of the ninth ministerial cabinet, that “our efforts are still continuing to resolve outstanding problems with the federal government, and we will continue to ensure that the Kurdistan Region does not become a threat and a starting point.” to attack any country.

During his speech, the Prime Minister touched on the relationship with the federal government regarding outstanding problems and ways to solve them, as well as other important files.

Below is the text of the speech:

In the name of of Allah the Merciful --  Dear Kurdish people,  Have a good time

With the passage of three years since the start of the tasks of the ninth ministerial formation of the Kurdistan Regional Government, I find it necessary to address you this word to talk about what we have achieved and the achievements of this cabinet in the past three years, as well as I will address our upcoming plans and programs.

It is important to point out here that since this booth assumed its duties, the Kurdistan Region and the world as a whole faced a health crisis represented by the outbreak of the Corona virus pandemic, which led to a financial crisis whose consequences are still present.

At the same time, and unfortunately, the federal government did not send from the amount allocated to complete the financing of salaries, which amounted to 200 billion dinars, except for a few months, and there was a persistent effort externally and internally to impede the work of the government, but the Kurdistan Regional Government managed to overcome these crises to To a large extent, through its plans and government program and reforms.

What we achieved:

* In the financial field: We were able to continue distributing salaries, and although we were sometimes late or for a few months in not paying salaries by 100%, the distribution process continued, according to what we have from the budget.

* In this booth, we managed to get through a difficult period without revenue. Not only did we borrow money and create burdens and responsibilities on the shoulders of future generations, but we also reduced government debts, and recently repaid more than a billion dollars in loans.

* Reforms in the financial and administrative fields and the implementation of the reform law, as a result of the reform process, contributed to a significant increase in internal revenues by 100 percent.

In terms of strengthening the economic infrastructure of the Kurdistan Region, we have worked to diversify the economy and sources of income:

* Most of the spending of the ninth cabin was allocated to streets and roads, in the largest allocation to this field since 2014.

* Also, in this booth, we paid attention to the agricultural and investment sectors. In the agricultural field, we provided and worked to provide many opportunities regarding the export of local Kurdish agricultural products abroad, and we worked to find foreign markets, and we have begun to do so.

* We have also implemented large and strategic projects to provide food security, some of which have been completed, and others are currently under implementation.

* We worked to provide water security and to establish dams and water ponds.

* In the electricity sector: We have strengthened the infrastructure of electric energy in order to prevent its waste. We have also increased the electrical supply and added it to the national grid.

* In the field of public transportation: We have taken practical steps to activate the public transportation system and build railways.

* In the field of administration: We have carried out reforms in the system of governance and administration at the level of all ministries. In this regard, many government services have been launched electronically, and we have taken practical steps to establish e-governance. We established a central data center for the government, as well as establishing a digital census and census system in the Kurdistan Region.

* We reduced bureaucracy in government departments and institutions, including the distribution of powers and the transfer of services from governorate centers to the level of districts.

* We worked to reduce corruption, in addition to ending and limiting the waste of public revenues and the abuse of power.

* In this booth, there is tight and solid cooperation between the Council of Ministers and its members. The Council of Ministers held most of its weekly meetings to discuss and solve citizens' problems and implement the government program.

* There is also a good relationship between the government and parliament, as most ministers and government officials visited parliament and parliamentary committees to answer parliamentarians' questions and provide them with appropriate explanations.

* In the field of education: with the exception of installing contract teachers, qualifying and building many schools, developing education via the Internet, and expanding academic and educational relations between the Kurdistan Regional Government and other countries, we established (the Accreditation Commission for Institutions and Curricula of Education and Higher Education).

* In the field of community awareness: We published most of the information and clarifications about the government's work, activities and projects, as well as working to expand the scope of freedom of media and expression, and paved the way for creating responsible media in the Kurdistan Region.

* Consolidating the culture of peaceful coexistence among the various components of the Kurdistan Region.

* Striving to continue eliminating violence and gender discrimination, and empowering women.

* Attention to the issue of environmental protection and the use of green and environmentally friendly energy.

* In the field of defense and national security protection: For the first time in this booth, the reforms of the Ministry of Peshmerga and the unification of the Peshmerga forces entered into force.

* Continuing to confront terrorists, thwarting their attempts, arresting criminals and drug traffickers, and paying attention to the role and support of the courts with regard to punishing violators.

* Conducting field visits to the Peshmerga fronts and strengthening defensive lines against terrorists.

* Recently launched a campaign to eliminate unlicensed weapons.

* On the level of relations with the federal government: Within the framework of our policy aimed at resolving outstanding problems and preserving our constitutional rights and entitlements, we have done our best to solve problems, and the delegation of the regional government has always visited Baghdad in pursuit of dialogue and a solution according to the constitution, and our efforts are still continuing.

* In the diplomatic field and international relations: We worked to consolidate and strengthen these relations, and during our visits to regional, Arab and European countries and in international forums and conferences, we clarified the position of the Kurdistan Region, and strengthened our relations in this regard.

What will we achieve in the coming period?

* We will move forward with the policy of diversifying the economy and sources of income and increasing interest in the agricultural sector.

* Increasing the number of dams and continuing to work to protect water security.

* Establishing an ecosystem to solve the issue of waste and garbage in the cities of the Kurdistan Region.

* Increasing the rate of electricity production using solar energy, burning gas and sources that reduce the price of electricity production.

* Continuing to support the youth of Kurdistan to launch small projects with the aim of creating more job opportunities.

Adopting an advanced banking system to enhance trade exchange, stimulate market movement, and upgrade banking services.

* Expanding the scope of services in cities and increasing green spaces and environmental privacy in cities.

* Developing and increasing the number of housing units for low-income people.

* Developing services and basic living requirements in villages and towns, so that citizens do not leave them for large cities.

* Strengthen internal security and borders, and continue to ensure that the Kurdistan Region is not made a threat and a springboard for attack against any country.

What we have mentioned represents a quick presentation and a summary of a number of important axes of the achievements that have been achieved, and the ministers will provide more details on them.

Dear Kurdistanis:

You are the citizens of Kurdistan. You are the core and essence of this government. We will do everything in our power to serve you to the fullest, and we will meet all your requirements and aspirations.   LINK

A Decline In Gold Prices With The Rise Of The Dollar

Shafaq News/ Gold futures declined today, Thursday, with the price of the US dollar rising globally.

According to the Comex rating of the New York Mercantile Exchange, gold futures were traded in August at $1,724.65 an ounce at 05:40 GMT.

And the dollar index contracts, which measures the performance of the US currency against a basket of six other major currencies, rose by 0.34% to trade at 108.13 dollars.

A rising US currency makes bullion priced in US dollars less attractive.

At the same time, the price of silver for the month of September fell by 0.52% to be traded at $19.09 per ounce, while the price of copper for the month of September rose by 0.11% to be traded at $3.32 per pound.  LINK

A “Setback” In The Export Of Iraqi Oil Because Of The Old Pumps

Shafaq News/ An Iraqi oil source said today, Thursday, that Iraq's effort to boost oil export capacity in its Gulf ports suffered a setback due to the delay in modernizing pumping stations.

The second largest oil producer in the Organization of the Petroleum Exporting Countries aims to increase Basra's operating export capacity to 3.45 million barrels per day from 3.3 million barrels per day.

The delay means he could miss out on an additional 150,000 barrels of oil exports in the third quarter.

Although this is a relatively small level, the setback comes at a time of tight global oil supply, limited spare capacity from other OPEC+ producers, and little room to offset a major supply disruption.

Reuters reported, quoting an Iraqi oil representative, as saying that the delay in its original plan stems from a delay in obtaining the necessary approvals and in finalizing bids for modernization work.

The state-owned Basra Oil Company had planned to install new pumping stations in the Iraqi Gulf ports to reach an export capacity of 3.45 million barrels per day in the second quarter.

The Basra Oil Company now expects southern export capacity to increase to 3.35 million bpd in August and reach 3.45 million bpd by September.

"I am not sure if the Basra Oil Company can meet this deadline due to the delay in the pumping stations project," the source said, noting that without the upgrade work, Iraq's exports could remain at around 3.3 million barrels per day.

Iraq's crude oil exports from Basra averaged 3.27 million barrels per day in June and 3.24 million barrels per day in the second quarter, according to the Iraqi State Oil Marketing Organization (SOMO).

The limited export capacity may strain Iraq's ability to increase production at an accelerated pace, as the country's storage options are few.

Government figures show that the country's crude oil production has risen largely in line with its quota under the OPEC+ agreement among oil-producing countries, but its stocks have also increased every month this year. LINK

Iraq Confirms Its Participation In The Upcoming "Saudi Summit" And Distances Itself From The Policy Of Axes And Alliances

Shafaq News/ The media office of the Iraqi Prime Minister Mustafa Al-Kazemi confirmed on Wednesday the latter's participation in the summit that will be hosted by Saudi Arabia early next week, with the participation of the leaders of the Gulf Cooperation Council, Egypt, Jordan and the United States of America.

In a statement received by Shafaq News Agency, the office said that "the summit will discuss energy, food security, and environmental challenges, and outline steps for cooperation, partnership, and joint coordination regarding these crucial issues that the peoples of the entire region suffer from."

He pointed out that "Iraq's participation comes in response to the invitation of Saudi King Salman bin Abdulaziz Al Saud," noting that "participation in this summit is a continuation of the government's commitment to developing diplomatic relations, and its keenness to preserve Iraq's international standing, while adhering to the principle of moderation and maintaining balance." and avoiding the politics of axes and alliances.

In the middle of this month, Saudi Arabia will host a Gulf summit, in addition to the countries of Iraq, Egypt and Jordan, with the participation of US President Joe Biden.

The US Ambassador to Iraq, Elena Romanowski, said that the United States supports Iraq's economic integration with the countries of the region through the upcoming summit that will be held in Saudi Arabia and includes the countries of the Gulf Cooperation Council, in addition to Iraq, Jordan and Egypt, and in the presence of US President Joe Biden.

She explained that the summit will discuss several files, including security, economic, cultural and educational ties, and will confirm Washington's commitment to support those countries in dealing with the issues of the food crisis and climate change.

Today, Wednesday, US President Joe Biden arrived in the Israeli capital, Tel Aviv, the first stop of his visit to the Middle East.   Joe Biden's plane landed at Ben Gurion Airport, where he was received by Israeli Prime Minister Yair Lapid.   LINK

Kirkuk: Makhoul Dam Will Displace More Than 32 Thousand People

Shafaq News/ A local official in Kirkuk revealed today, Wednesday, that more than 32 thousand people in 6 villages belonging to the Al-Zab Al-Asfal district, southwest of the province, have been relocated, with the implementation of the work stages of the Makhoul Water Dam project.

The director of Al-Zab district of Hawija district, southwest of Kirkuk, Ghazi Obaid Al-Jubouri told Shafaq News Agency, "A committee of experts for the Makhoul Dam project has identified 6 villages that will leave the dam site, which will be flooded after its completion, with a population of 32,500 people."

Al-Jubouri added that "the date of deportation, compensation mechanisms and housing the deportees have not been determined so far, with the exception of initial notifications from water resources, pending instructions and final procedures."

Al-Jubouri stressed, "Giving the deportees rewarding compensation for land, houses, property and livestock, within areas suitable for practicing living professions."

The cadres of the Ministry of Water Resources started the construction of the strategic Makhoul Dam in early May of last year, in the preliminary stages of preparation.

The file of the Makhoul Dam, which is scheduled to be built between Kirkuk and Salah al-Din, has had wide social and living repercussions, as it requires the displacement of residents of about three administrative units in the two governorates, amid fears of losing living sources in those units that subsist on agriculture and animal husbandry as the main and only sources of livelihood.

The location of the dam and the limits of its construction extends from Al-Zawiya district, north of Baiji district, to Ayser Al-Sharqat district, and large parts of Al-Abbasi and Lower Zab districts of Hawija district, southwest of Kirkuk.

The length of the dam is 3,227 to 3,600 meters and a storage capacity of more than 3 billion cubic metres.

The Ministry of Water Resources confirmed earlier that the Makhoul Dam is expected to provide thousands of job opportunities during the years of implementation for the young elements of the new graduates and give them the opportunity to develop their practical capabilities.   LINK

Khaleeji 25.. What Does Basra Need To Be A Shining Front For Iraq?

Shafaq News/ The representative of Basra, Ali Al-Machkoor, attributed, on Tuesday, the decline in services in the province to the lack of financial allocations that are not commensurate with its population, stressing the need to show them in a manner befitting the front of Iraq during its hosting of the 25th Gulf Championship.

Al-Maskoor told Shafaq News Agency, "The Basra environment is attractive to citizens of the rest of the Iraqi provinces and foreign visitors, and therefore the current financial allocations are not sufficient to meet the needs of this population density of services."

He added, "Also, Basra's budget is calculated according to an inaccurate population census. It is given to Basra considering its population of two million and 400 thousand people, but in fact it now exceeds four million people, so this aspect must be reconsidered to help Basra contain these numbers."

And the representative of Basra added, "Just as the province is on the verge of the 25th Gulf Championship, there must be a government orientation from ministries and departments to serve it, to be the front of Iraq in the near future."

Al-Maskour pointed out, "there is an integrated study that will be presented by the local government in Basra, explaining the needs of the province during the next stage, so that they appear in a manner befitting the facade of Iraq."

The Gulf Football Association had unanimously voted to hold the 25th Gulf Cup in Basra, southern Iraq.  LINK