TNT:

Tishwash:  Iraq is ranked second in the list of ten economies that will grow at the highest pace in 2022

Forecasts prepared in April 2022 showed that the global economy this year is expected to grow by .3.6%, and this comes in light of the pressures it is facing And Statista, citing data from FMI and the World Economic Outlook, identified ten economies in the world that are .expected to grow at the highest pace in 2022,

And the list included 3 Arab countries According to a graph by "Statista", a German company specializing in market and consumer data, the Iraqi economy will grow at a rate of 9.5% this year and will rank second in the list after Guyana, which will lead the world's .economies in growth, as its economy is expected to grow by 47.2%

In third place comes Kuwait (8.2%), then India (8.2%), followed by Saudi Arabia (7.6%), then Panama (7.5%), Niger .)(6.9%), then the Philippines (6.5%), Falcongo (6.4%), And then Bangladesh (6.4% link

Tishwash:  A law determines a way to legislate the budget, even with the presence of a caretaker government

Legal expert Ali Al-Tamimi confirmed that Parliament can pass the 2022 budget despite the presence of the caretaker government in power, pointing out that the Financial Management Law allows Parliament to do so.

Al-Tamimi said, "Parliament has the authority to authorize the caretaker government to send the general budget law, because it is related to food security, which is one of the first priorities of the caretaker government."

He added that "the mandate to send the budget requires a vote of the absolute majority of the number of members in Parliament, and that this right is limited only to the budget law exclusively."

And he indicated that “the authorization must include the approval of the final accounts of the previous year’s budget in accordance with the Financial Management and Public Debt Law No. 6 of 2019, as all of this comes in accordance with Articles 62, 5 and 61 of the Constitution and 12 and 13 of the Financial Management and Public Debt Law No. 6 of 2019 and articles From 128 to 138 of the Parliament’s Bylaws and Procedures.  link

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CandyKisses:  The laws in force prevent Iraq from joining the World Trade Organization

Baghdad / Obelisk: The Ministry of Commerce said, Friday, June 3, 2022, that the laws in force prevent Iraq from entering the World Trade Organization, while indicating a new vision for the country to join this organization.  

The ministry's spokesman, Muhammad Hanoun, said in a press interview that Iraq has been seeking for years to join the World Trade Organization, stressing the need to legislate laws that are compatible with the decisions in which the organization operates.  

He added that the ministry is a governmental institution like other ministries, subject to laws that prevent entry to this large organization, calling on the parliament to "legislate laws during the coming period that are compatible with the organization's decisions."  

 Hanoun indicated that the Ministry of Commerce is working with the ministries to expedite Iraq's entry into the organization with a new vision, explaining that the government's effort is effective in saving time and harmonizing with the laws of the World Trade Organization.

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Harambe:  Iranian Rial Falls Further As Protests Over Decimated Economy Continue | RFERL

(6/2/22)

Iran's currency, the rial, has continued to weaken as unrest in the country grows over an economy in shambles due to the effects of U.S. sanctions over Tehran's nuclear program.

The value of one U.S. dollar rose on June 1 to as high as 31,500 rials, compared with 28,150 rials a month before, according to the foreign-exchange site Bonbast.com, its lowest level since September 2021. 

The stranglehold of U.S. sanctions along with government mismanagement has led to soaring inflation, high youth unemployment and rising poverty, while recently elected President Ebrahim Raisi's administration has struggled to halt the economic tailspin.

Due to skyrocketing prices and the rial's free fall in recent years, the purchasing power of Iranians has declined rapidly and many in the country of more than 80 million people have had their savings wiped out.

The economic turmoil has sparked protests in the streets of many Iranian cities.

Security forces have arrested protesters and officials have downplayed the unrest, though Raisi has said "hard decisions" on public-sector wages and prices have to be made even if people disagreed.

https://www.rferl.org/a/iran-currency-weakens-protests/31878973.html

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