“Tidbits From TNT” Tuesday 10-29-2024

TNT:

Tishwash:  Government advisor explains details of 2025 budget deficit: “We are counting on oil prices”

The Prime Minister's Advisor for Financial Affairs, Mazhar Muhammad Salih, confirmed today, Tuesday, that the financial deficit in the 2025 budget amounted to 64 trillion dinars, amid expectations of an increase in oil prices in the global market.

Saleh said, in a statement followed by "Al-Eqtisad News", that "next year's budget 2025 will not deviate from the constants approved in the Federal General Budget Law, the three-year budget submitted by the government and approved by the House of Representatives for the years 2023-2024-2025."

Regarding the budget deficit, he explained that “the 2025 budget will have a hypothetical deficit of 64 trillion dinars, which is a (precautionary) deficit that has been established by law to avoid fluctuations in the general budget revenues for the coming year, especially oil revenues, which are subject to fluctuations in the oil asset cycle and the conditions of energy markets in the world.”

Saleh added, "The price of a barrel of oil in the three-year budget, to which the 2025 budget is subject, was set at $70, and any annual increase in oil prices exceeding $70 per barrel of exported oil will reduce the hypothetical deficit in the budget  link

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Tishwash:  The President of the Republic calls for enhancing cooperation with the countries of the world in order to extradite wanted persons and recover Iraq's funds abroad

 President of the Republic Abdul Latif Jamal Rashid called for enhancing cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad.

A presidential statement stated that the President of the Republic received, today, Tuesday, at the Baghdad Palace, the Chairman of the Integrity Commission, Mohammed Ali Al-Lami.

According to the statement, Rashid congratulated the Chairman of the Commission on his assignment to the position, stressing that everyone expects effective and correct steps from the Commission to preserve public money through legal and constitutional procedures, adding that diagnosing the waste of public money is a noble national task that requires a serious and firm stance from all regulatory agencies and bodies, foremost of which is the Integrity Commission, calling for the adoption of integrated and comprehensive national plans and programs in which all official and societal activities have an active role. "

The President of the Republic called, according to the statement, to enhance cooperation and coordination with countries of the world in order to extradite wanted persons and recover Iraq's funds abroad."

For his part, Mohammed Al-Lami reviewed the Commission's future plans and programs, appreciating the support of His Excellency the President of the Republic for the Commission's work and its efforts to achieve transparency.

He stressed the importance of the Presidency of the Republic's support for the Integrity Commission in its efforts to combat the corrupt, recover Iraq's money, and preserve national wealth. link

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Tishwash:  The Future of Relations with Washington: Iraq Wants Partnership, Not Hegemony

The relationship between Iraq and the United States faces major challenges in light of regional developments and internal political changes in both countries.

There is an Iraqi trend to present its relationship with Washington in a different way than it was in the past, as Iraq seeks to diversify this relationship away from the military and security dimension that has long dominated bilateral cooperation. Iraq recently submitted an official memorandum of protest to the UN Security Council against Israel, stressing the need to clarify positions and highlight Iraqi grievances before international forums, a step aimed at reformulating Iraq's foreign policies in a way that enhances its sovereignty and independence.

In this context, the Iraqi government formed a special committee to review the relationship with Washington, based on the Strategic Framework Agreement signed in 2008, which sought to establish a partnership based on cooperation in various fields, not just security affairs.

Sources told Al-Masala that Iraq seeks to achieve a balanced partnership that will allow it to build a strong and sustainable economy, by benefiting from Washington’s expertise in the economic, educational, and health fields, instead of relying excessively on the military aspect. This trend reflects a strong desire to achieve the aspirations of the Iraqi people away from the effects of regional conflicts.

Moreover, Iraq announced earlier this year the end of the international coalition formed in 2014 to fight ISIS, a move aimed at reducing foreign military presence and restoring national control over sovereign decisions.

This announcement comes as part of a plan aimed at changing the pattern of relations with the United States, while seeking to develop new mechanisms for cooperation through a tripartite military committee that includes representatives from both parties.

Analyses indicate that “this committee must establish strong foundations for a real partnership that is far from hegemony and based on mutual interest, so that Iraqis feel the impact of this partnership in their daily lives.”

The shift towards economic partnership has become an increasing demand, as some voices within the Iraqi government stress the need to move from reliance on military support to enhancing cooperation in the areas of infrastructure, technology and energy, which contributes to developing Iraq’s economic capabilities and providing job opportunities for young people.

The Iraqi-American relationship is one of the most complex issues in the Iraqi political scene, and it is a source of disagreement between political forces, as visions differ on how to deal with this relationship and direct it towards a path that serves the country’s interests, far from foreign interference.

Political movements see Washington as a key partner whose cooperation must be maintained, especially in the economic, health and educational fields in which Iraq lacks long-term institutional support.

These forces call for expanding areas of cooperation outside the security framework, noting that the United States can be a strategic ally for Iraq's development through massive investments, especially in the areas of infrastructure and energy.

Perhaps this trend is expressed by representatives in parliament and officials who believe that building a comprehensive economic partnership with Washington can achieve economic stability away from oil revenues.

On the other hand, there are forces that consider the relationship with the United States to be fraught with sovereignty risks. These parties, which often tend to adopt a nationalist discourse that rejects the American military presence, see American policy in the region as conflicting with Iraq’s interests and regional orientations.

Given the vast regional influence of these powers, the political arena has witnessed calls to re-evaluate the relationship and determine the extent of its need.

This division is clearly evident in the decisions of the Iraqi government, which seeks, on the one hand, to calm internal fears by forming committees to review the strategic framework agreement with the United States, and on the other hand faces pressure to confirm the trend towards new partnerships that are not subject to external pressures.

The joint committee held three meetings in Washington and Baghdad, during which it reached a new mechanism to regulate the relationship between the two parties, which stipulates the withdrawal of the remaining American combat forces in Iraq, and the retention of a number of advisors for the purposes of advice and logistical support, according to the strategic framework agreement signed in 2008 and ratified by the Iraqi parliament. link

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