"Tidbits From TNT" Tuesday Morning 2-8-2022

Feb 8

TNT:

Tishwash: Political source: The next few hours will witness the resolution of the presidential file

A member of the Wisdom Movement, Ahmed Al-Issawi, said that it is expected that the political parties will reach an agreement on the election of the President of the Republic, in the coming hours.

Al-Issawi stressed that the Wisdom Movement supports the understanding of the political parties and all the political parties to hold the parliamentary session and elect the President of the Republic smoothly.

A member of the Wisdom Movement clarified that "the session was not postponed to another time, but was raised for deliberation," noting that "it is possible that the deliberation will remain open."

Al-Issawi pointed out that if the blocs do not reach an understanding and an agreement occurs between the coordination framework, the Sadrist movement and the Kurds, or that Massoud Barzani intervenes again to bring the Kurds and the movement and the framework closer, the situation will go to a real political blockage and constitutional vacuum, noting that “we need the Federal Court to intervene again.”

Al-Issawi indicated that initiatives were taken by the Wisdom Movement and Masoud Barzani to resolve the issue, but the dispute has not yet resolved, adding that "we expect the political parties to reach an agreement regarding the election of the President of the Republic in the coming hours."

A member of the Wisdom Movement explained that "the constitution did not provide for the reopening of candidacy for the presidency of the republic," noting that "we have 24 candidates competing for the position, and whoever is agreed upon by the Kurdistan Democratic Party is the one who will get the parliament's vote and win the presidency," stressing: "The consensus must be Kurdish - Kurdish present" to elect the person of the president.

A member of the Wisdom Movement drew attention to the movement's warning of divisions since the first day, pointing to the desire of the Wisdom Movement to unite ranks among the Kurds, Sunnis and Shiites, to form the government "smoothly."

He said: "If the president of the republic is not elected, we will not go to form a government, and the Kurds and the Kurdistan Democratic Party have the upper hand in electing the president of Iraq," adding: "There are ongoing negotiations between the Kurdistan Democratic Party and the coordinating framework link

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Tishwash: Three proposals to take advantage of high oil prices

The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, suggested three axes to benefit from the financial abundance achieved as a result of the rise in oil revenues, whose prices exceeded the $90 barrier

Putting at the forefront of those proposals, allocating part of those revenues to raise the efficiency of operating investment projects, and to move towards Activating the major agricultural licensing rounds, to mobilize this sector, which can support the country's financial budgets and provide the requirements of the local market, while he pointed out that the third proposal is to establish a budget stabilization fund that addresses external shocks to which international finances are exposed.

At a time when the Ministry of Oil expected that Iraq’s production would rise to more than 4 million barrels per day in next March, the economist, Dr. Bilal Al-Khalifa, believes that the fair price of oil serves everyone, and this increase will leave behind many increases in prices and costs worldwide, and as We noticed last year when inflation reached 22% in the world

Three scenarios

Saleh indicated during his speech to “Al-Sabah” that, “Achieving financial sustainability is linked to the condition that oil prices remain above the rate of 72-75 dollars per barrel for a period of no less than three fiscal years, pointing out that there are three main axes to benefit from the rise in oil prices averages (to the level of budget balance). In light of the current annual spending ceilings, especially the operational limits that have reached their maximum limits in operating the public service in the country), the first axis is to raise the efficiency of operating government and private investment projects to achieve the growth goal approved by the ten-year national sustainable development period coming.

Agricultural Tours

The government advisor explained that the second axis aimed at benefiting from the financial abundance achieved as a result of the high oil prices, is related to generating a partnership of oil surpluses with the private sector to conduct major agricultural licensing rounds and promote the associated industrial and service activities, noting that the third proposal includes the establishment of a budget stabilization fund whose function is to address To the external shocks to which international finance is exposed to fluctuations and surprises in the energy markets in order to sustain spending on income-generating investment projects that operate without interruption.

Saleh stressed that achieving the "triple strategy" he referred to is an objective basis for launching development on a basis of high stability and low risk.

production ceilings

For his part, the economic expert, Dr. Bilal Al-Khalifa, explained during his speech to “Al-Sabah” that “Iraq is one of the members of the Organization of Petroleum Exporting Countries and its allies, and therefore it is restricted by the production ceilings set by the organization (OPEC Plus), but it is a good tracker of oil affairs and global monthly bulletins. , it will be noted that countries usually have their production decrease or increase by several thousand,” noting that “Iraq’s share has increased several times, according to the decisions of OPEC Plus, indicating that the significant improvement in oil prices is due to the decline in the impact of the Corona pandemic and the return of normal life and economic activities to the former. her reign.”

Despite the financial positivity that Iraq can derive from the rise in oil prices, Bilal Al-Khalifa pointed out that “the fair price of oil serves everyone, and that the rise in the price of a barrel will revive the budgets of the rentier and oil-producing countries, including Iraq, but it will lead to a rise in many prices and costs.” Because it is the backbone of life, and as we have noted that last year witnessed an inflation rate of 22% in the world.”

revenue increase

In a related context, the Ministry of Oil expected that Iraq's production would rise to more than 4 million barrels per day in next March.

The Undersecretary for Extraction Affairs, Karim Hattab, said in a statement received by the Iraqi News Agency (INA), that "the ministry succeeded in achieving an increase in financial revenues for the year 2021, after witnessing an increase in the total financial revenues derived from oil exports to (75,650) billion dollars, with a noticeable increase." on last year's budget forecast.

He added that "the increase in revenues came despite the economic and health challenges represented by Covid-19 and its aftermath, which contributed greatly to covering a good percentage of the financial deficit of the government's budget for the aforementioned year," noting "the importance of the commitment of the producing countries in (OPEC +) to the stability of oil markets." and overcoming the crises that afflicted the economies of the countries of the world after the spread of the Corona pandemic.”

He expressed his hope "that the required balance between supply and demand will continue to be achieved over the coming period, after the increase that will be supplied to global markets by (OPEC +) and in the amount of (400) thousand barrels per day, starting from next March, and the increase in Iraq's share to (4,370). million barrels per day,” they referred to as “an important step to achieve additional financial revenues.” link

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Tishwash: Iraq Is Preparing To Hold An Exhibition "ATEX" For Digital Transformation

The Ministry of Communications is preparing to hold an exhibition (ATEX) on digital transformation of e-government next Thursday on the grounds of the Baghdad International Fair with wide international and Arab participation.

The Director of Relations and Media at the General Company for Communications and Informatics at the ministry, Natiq Ahmed Ibrahim, said in a statement seen by "The Information", that "the exhibition continues until the 18th of this month, and comes within the government's directions for digital transformation of state institutions and the promotion of the use of modern technology in this regard," noting that “The exhibition is the first of its kind in the country and is being held within its first session.

There are invitations to the ministries of communications in the Arab countries, and it is hoped that it will witness a good international presence.”

Ibrahim added that “the exhibition will be held under the slogan (Iraq is moving towards digital transformation and the accelerated adoption of the future of artificial intelligence, as it will witness the participation of more than 10 government institutions, more than 100 companies affiliated with the private sector and some international companies), noting that “the exhibition will shed light on the main trends.” And updates in the field of information and communication technology around the world, in addition to introducing the country’s e-government services and future projects in this field.”

He pointed out that “focusing on the most important sectors that have been affected by the digital revolution, such as health, tourism, banking, finance, mining and education. It also includes holding workshops and specialized lectures, signing a number of agreements and memoranda of understanding with the ministries of communications in the participating Arab countries, and there will be a marketing aspect of e-government services and encouragement of transformation.” Digital in various fields and sectors and the exchange of expertise and experiences between various institutions and companies using technologies and innovations, as well as attracting technical investments from inside and outside the country. link

Mot: Good ole ""Bob"" --