Tuesday AM Iraq Economic News Highlights 9-27-22
Tuesday AM Iraq Economic News Highlights 9-27-22
A New Clarification Of Trade Related To The “Food Basket”
Economie 2022-09-26 | 13:48 Source: Alsumaria news 9,134 views The Ministry of Commerce confirmed, on Monday, that the Food Security Law provided funds for the preparation of food basket items.
The ministry said in a statement, "The Minister of Commerce, Alaa Al-Jubouri, chaired a meeting that included food companies and the legal and regulatory departments in the ministry to discuss a number of commercial and investment projects that aim to create a parallel line to the local market within the framework of a set of measures taken by the ministry to confront the crisis of high food prices and the food crisis." Globalism".
The Minister of Commerce confirmed that Ministry of Commerce Today, it is looking at a number of measures for the purpose of carrying out important commercial projects and creating a parallel line to the local market, in a way that contributes to the citizens not being affected by the global crisis, reducing prices and controlling food security,”
noting that “the Food Security Law provided the funds needed by the Ministry for the purpose of preparing food basket items and importing quantities of wheat to meet the requirements of the ration card.
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And he indicated that "the law provided the materials for this year, which requires that you do Ministry of Commerce Turn through its responsibilities in the process of controlling the business within Iraq He added, "Through a set of contractual procedures for the purpose of working on a number of commercial projects that contribute to helping citizens overcome the crisis of high prices and increase resources for the ministry's companies in the context of the urgent need for the purpose of developing these resources in proportion to the employees' monthly income." LINK
The Ministry Of Commerce Reassures: There Is No Problem In Preparing The Food Basket Items
Iraq 20:47 - 09-26-2022 Today, Monday, the Ministry of Commerce announced the arrival of new types of Thai rice to Iraq, and while it reassured the citizens about this type of rice, it confirmed that there are no problems with the food basket.
The spokesman for the ministry, Muhammad Hanoun, said that "a number of ships loaded with Thai rice have arrived in the country with good quality," calling on citizens to "receive it and not believe rumors that it is invalid."
Hannoun added, "The available rice is of the kind that is sold in the local markets," noting that "some greedy agents claim that it is invalid, and some citizens are forced not to receive it, and this is not true."
He stressed, "Rice is one of the best international origins, as the eighth ship has now arrived, and by the end of the year the number of ships loaded with this rice will reach 11," pointing out that "
He pointed out, "there is no problem with regard to the food basket," explaining that "the ministry moved in multiple directions with the aim of keeping Iraqis away from crises."
He concluded, "We succeeded in this through the efforts of the Council of Ministers and the House of Representatives, and the efforts of the media, which accompanied us throughout the crisis."
Low Gold Prices In Iraq
Economie 2022-09-27 | 02:39 1,371 views Alsumaria News – Economy Alsumaria News publishes gold prices in the Iraqi local markets on Tuesday. The price of a 21 carat gold weight, the most traded one, reached 335 thousand and 435 dinars, excluding the fees of the craftsman.
As for the price of a gold weight of 24 karat, it amounted to 383 thousand and 345 dinars, excluding the fees of the craftsman. LINK
Dollar Exchange Rates In Local Markets
Economie 2022-09-27 | 02:22 1,313 views Today, Tuesday, the dollar exchange rates witnessed stability in the local markets. The selling prices of the dollar were 147.750 dinars per 100 dollars, while the purchase prices of the dollar were 147.650 dinars per 100 dollars.
Earlier, he decided Central Bank of Iraq Adjusting the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at (1460) dinars per dollar, while the selling price to the citizen is (1470) dinars per dollar. LINK
The Stability Of The Dollar Exchange Rate Against The Dinar
Economie| 09:25 - 09/27/2022 Baghdad - Mawazine News The dollar exchange rates witnessed, today, Tuesday, stability on the Iraqi Stock Exchange.
Selling price: 147.750 dinars per $100 purchase price: 147.650 dinars per $100
https://www.mawazin.net/Details.aspx?jimare=206643
The Price Of Basra Crude Fell By More Than 5 Dollars
Economie| 11:38 - 09/27/2022 Follow-up - Mawazine News, the prices of the Iraqi Basra Medium and Heavy crudes decreased significantly, by more than 5 dollars.
Basra Medium crude, exported to Asia, fell $5.13, a change rate of 5.91%, to reach $81.68 per barrel.
Basra Heavy crude, exported to Asia, fell $5.13, or 6.19%, to $77.78. Ended 29/N33
The Minister Of Commerce Is Discussing A Number Of Commercial Projects To Confront The Crisis Of High Prices
Economie| 08:48 - 09/26/2022 Baghdad - Mawazine News, Minister of Trade, Alaa Al-Jubouri, chaired a meeting that included food companies and the legal and regulatory departments in the ministry to discuss a number of commercial and investment projects aimed at creating a parallel line to the local market within the framework of a set of measures taken by the ministry to confront the crisis of high food prices and the global food crisis.
During the meeting, the Minister of Commerce stressed that "the Ministry of Commerce is discussing today a number of measures for the purpose of carrying out important commercial projects and creating a parallel line to the local market, in a way that contributes to citizens not being affected by the global crisis, reducing prices and controlling food security."
He pointed out, "The Food Security Law provided the funds that the ministry needed for the purpose of preparing the food basket items and importing quantities of wheat to meet the requirements of the ration card," noting that "the law provided materials for this year, which requires that the Ministry of Commerce play its role through its responsibilities in the process of Controlling commercial work inside Iraq through a set of contractual procedures for the purpose of working on a number of commercial projects that contribute to helping citizens overcome the crisis of high prices and increase resources for the ministry’s companies in the context of the urgent need for the purpose of developing these resources in proportion to the employees’ monthly incomes.
Minister Al-Jubouri stressed, "the importance of the legal and supervisory departments playing their role in activating these projects by following the laws and instructions in force, for the continuation of these projects and for these companies not to commit legal violations."
He pointed out, "He directed the Commercial Control Department to evaluate the investment projects carried out by companies since the current government assumed its responsibilities until now, after asking several questions about the economic feasibility of the projects and what it achieved in serving the citizens and the ministry, for the purpose of overcoming these mistakes and violations and continuing these projects to their work for the permanence of work." Trading".
He pointed out, "The ministry has seriously contributed to the citizens not being affected by the global crisis through a package of reform measures contributed by the Iraqi government and approved by the parliament, as well as a number of investment projects that were a parallel line to the local market and contributed to lower prices and the citizens were not affected by the crisis."
It is noteworthy that the companies of the Ministry of Commerce are currently working on commercial projects by distributing flour to local markets at lower prices than the local market, as well as projects that are now being studied to supply mills with commercial wheat through the General Company for Grain Trade. https://www.mawazin.net/Details.aspx?jimare=206616
Parliamentary Finance: Employees’ Salaries Are Secured And Will Be Spent In The Event The Budget Is Not Approved
Economie 11:53 - 09-27-2022 The drop in oil prices during the current period has raised concerns about securing government salaries in the future, in light of the government formation crisis that prevented the approval of the fiscal budget law for the current year.
A member of the Finance Committee, Jamal Cougar, said, "Oil prices fell a while ago to below $40, and employees were not affected," wondering, "Why are there fears due to prices dropping to $80 a barrel?"
He explained that "the salaries of the employees are fully insured and will be spent according to the 1/12 principle, in the event the budget is not approved," describing "expectations of the country's collapse due to the non-formation of the government as unrealistic and unacceptable."
He continued, "The Food Security Law held the government responsible for providing the job contract for a period of three years, and it falls on the shoulders of the Ministries of Finance and Planning, which will be concerned with preparing the instructions for the law," noting that "Parliament legislated this law and it was not challenged by the Federal Court, which means There is a possibility of enacting other laws similar to it.” https://kirkuktv.net/AR/Details/9208
Parliamentary Finance Reassures Employees: Your Salaries Are Fully Insured
Political | 09:11 - 09/27/2022 Baghdad - Mawazine News, on Tuesday, the Finance Committee reassured the segment of employees that their salaries are fully insured, even if the price of a barrel of oil reached $50.
Member of the Finance Committee, Jamal Kougar, said in an interview with the official newspaper, which was followed by Mawazine News, that "oil prices fell a while ago to below $40, and the salaries of employees were not affected," wondering, "Why are there fears due to the drop in prices to $80 a barrel?"
He added, "The salaries of the employees are fully insured, and they act according to the principle of one out of twelve, in the event that the budget is not approved," describing the expectations of the country's collapse due to the failure to form the government as "unrealistic."
He continued, "The Food Security Law held the government responsible for providing the job contract for a period of three years, and it falls on the shoulders of the ministries of finance and planning, which will be concerned with preparing the instructions for the law," noting that "Parliament legislated this law and it was not challenged by the Federal Court, which means There is a possibility of enacting other laws similar to it.” Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=206641