Tuesday Morning Iraq Economic News Highlights 11-29-22
Tuesday Morning Iraq Economic News Highlights 11-29-22
Global Oil Prices Rose After News From OPEC + That Production Could Be Cut At The End Of The Week
By Moahmmad Editor Economy Oil prices rose, on Tuesday, prompted by the announcement by delegates of the “OPEC +” alliance that the option to reduce production at a greater rate is an option when they meet at the end of this week. West Texas Intermediate crude prices rose 95 cents, or 1.23%, to reach $78.13 a barrel at 04:15 GMT, and had fallen at the beginning of the session to less than $74 a barrel. Brent prices increased by $1.25, or by 1.50%, to reach $84.44 per barrel. Ended 29/N33
Parliament Calls On The Government To Urgently Send The Oil And Gas Law
Energy Economy News-Baghdad The Parliamentary Oil and Energy Committee called on the government to expedite the dispatch of the oil and gas law because of its importance in resolving problems with the Kurdistan region, noting that the implementation of the law comes within the program of the new government.
A member of the Oil Committee, Faleh Al-Khazali, told "Al-Sabah": "The oil and gas law is one of the most important and prominent laws over which many disputes occurred, especially between the Kurdistan region and the federal government." Noting that "it has become imperative for the government to complete it, after the Federal Court rejected the law adopted by the Kurdistan Regional Parliament in 2007 to regulate the oil and gas sector."
Al-Khazali expressed "his hope that the government would send it as soon as possible, according to the government program presented by Prime Minister Muhammad Shia'a al-Sudani," pointing out that "the members of his committee are keen to proceed with this project because of its importance and connection to the lives of citizens and a solution to outstanding problems with regard to sovereignty in the file." Oil and Gas and Control of Federal Revenue".
Al-Khazali indicated that "the law did not originally come from the government to return to it, but rather it was previously present and was withdrawn in the second round, and the matter remained pending."
Last February, the Federal Supreme Court issued a ruling ruling that the oil and gas law of the Kurdistan Regional Government, issued in 2007, was unconstitutional, and canceled for violating the provisions of constitutional articles, as well as obligating the region to hand over oil production to the federal government. Views 124 Added 11/28/2022 - 9:17 AM Updated 11/28/2022 - 3:14 PM
https://economy-news.net/content.php?id=31046
Al-Sudani: The Economic File Is Of Great Interest To The Government
Prime Minister Mohamed Shia Al-Sudani affirmed that the economic file is receiving great attention from the government.
He said in a joint press conference with Iranian President Ibrahim Raisi that the two sides agreed to activate the joint committee for cooperation in order to submit its results to the Supreme Committee headed by the Iraqi Prime Minister and the First Vice President of Iran. Al-Sudani appreciated Iran's position in supporting Iraq with gas and electricity. https://n.annabaa.org/iraq/82227
The State Administration Alliance Decides To Activate Article 140 Of The Iraqi Constitution
Political | 10:28 - 11/28/2022 Baghdad - Mawazine News , Minister of Justice Khaled Shawani revealed, on Monday, the details of the meeting of the State Administration Coalition at the home of the President of the Patriotic Union of Kurdistan, Pavel Talabani.
Shawani said in a press conference held during the meeting, that "it was decided in the meeting, which was hosted by Pavel Jalal Talabani, President of the Patriotic Union of Kurdistan, to activate Article 140 of the Iraqi constitution, provided that a committee is formed for the same purpose to carry out its duties within a period of 10 days."
He added, "The new government was formed as a result of a political agreement, one of its clauses included the implementation of Article 140 and the re-formation of the Supreme Committee for the implementation of that article, which has been suspended since 2014," noting that "disabling the committee created a great void, and contributed to the re-Arabization of Kirkuk governorate and the cut-off areas."
And he continued, "The re-formation of that committee was one of the main demands of the delegation of the Patriotic Union of Kurdistan headed by Pavel Jalal Talabani in the negotiations to form the Iraqi government," stressing that "it was decided to form that supreme committee within a period of one month from granting the Sudanese government confidence in the Iraqi parliament, and this What happened after a series of meetings with Al-Sudani and his government.”
He explained that “the committee will begin its duties within a period of 10 days and will disclose to parliament the budget it needs to perform the duties entrusted to it, in order to allocate the necessary funds for it in the 2023 budget,” noting that “with the formation of that committee, the implementation of Article 140 will return to its normal course.”
Shawani thanked all the parties that cooperated in this regard, including the Coalition within the Coordination Framework and the Sovereignty Coalition, because the process took place in agreement and agreement, pointing out that the committee was formed several days ago, but we decided to announce it from Mam Jalal's house in Baghdad. Ended 29 / H
https://www.mawazin.net/Details.aspx?jimare=212679
An Economist Gives His Expectations Regarding The Budget: 150 Trillion Dinars, With A Deficit Of 10%
Money and business Economy News – Baghdad On Monday, the economist, Bassem Jamil Antoine, predicted that the fiscal deficit in the fiscal budget for next year would reach 10%.
Antoine said in an interview with the "Euphrates News" agency, followed by "Al-Iqtisad News", that "everyone is waiting for the budget to be sent, as preliminary information indicates that it will be around 150 trillion dinars, with a partial deficit of 10%, so that it is a formality."
He added, "The exchange will remain from 1/12 even if the budget is disrupted early next year," pointing out that "investment projects and contract staff appointments have been affected by the delay in approving the budget."
Antoine continued, saying, "As for the economic situation, it is good, as it is a rentier dependent on oil, whose prices are stable towards the rise."
Views 138 Added 11/28/2022 - 6:33 PM Updated 11/29/2022 - 10:17 AM
https://economy-news.net/content.php?id=31060
A Specialized Site: The Volume Of Trade Exchange Between Iraq And Iran Reached Ten Billion Dollars In 2021
The volume of trade exchange between Iraq and Iran reached more than $10 billion during the year 2021, according to the trade map website, which provides a trade map for countries for exports, imports, international demand, alternative markets, and competitive markets.
And the website stated in its statistics that "trade exchange between Iraq and Iran amounted to 10 billion, 111 million, and 202 thousand dollars during the year 2021."
He added, "The value of Iranian exports to Iraq amounted to 8,914,605,000 dollars, while Iraqi exports to Iran amounted to 1,196,597,000 dollars."
She pointed out that "most of Iranian exports to Iraq were concentrated in fuel (gas), followed by iron and steel, and then plastic," noting that "these exports grew by 1% between 2017 and 2021."
The site noted that "most of the Iraqi exports to Iran were concentrated in grains, followed by residues and waste from the food industry," adding that "these exports grew by 88% between 2017 and 2021."
https://n.annabaa.org/economy/82221
The Council Of Ministers Decides To Contract With An International Entity To Implement The Smart Grid Project And Develop The Electricity System
By Moahmmad Editor Iraq news The Iraqi government decided to contract with an international entity to implement the smart grid project and develop the electricity system.
This came in the sixth regular meeting of the Iraqi government, in which it decided to “finance an amount of 10 billion dinars to the Iraqi National Security Service to pay the salaries of the agency’s employees,” in addition to “financing three billion dinars to the Iraqi Central Football Association.”
The Council of Ministers also agreed to “modify the Municipality of Baghdad and the municipal institutions in the governorates, the basic design of the cities, and change the different uses of the lands on which housing units are built randomly and owned by the state.”
The Iraqi government also agreed to “establish a public company in the name of (the engineer) linked to the Popular Mobilization Authority.”
The Cabinet approved the following:
Approval of the following:
1- Amending the Municipality of Baghdad and municipal institutions in the governorates, the basic design of cities and changing the different uses of lands on which housing units are built randomly and owned by the state, and which were built before the issuance of this decision.
2- Activating the Baghdad Municipality, the decision of the dissolved Revolutionary Command Council No. (581 of 1981) for the purposes of owning the land whose use has been changed for the purposes of this decision.
3- Activating municipal institutions in the governorates, Law No. (80 of 1970) and its instructions in force, and the dissolved Revolutionary Command Council Resolution No. (184 of 2002) for the purposes of owning land whose use has been changed for the purposes of this decision.
4- The Municipality of Baghdad and the municipal institutions in the governorates shall undertake the preparation of sectoral designs for the areas covered by the provisions of this decision in a manner consistent with the design of modern cities. lowest excretion.
5- The ownership of the Municipality of Baghdad, and the municipal institutions in the governorates, of the lands that were allocated for the purposes of this decision to their occupants at the value estimated by the estimation committees above, in accordance with the provisions of Articles (7, and 8) of the Law of Sale and Lease of State Funds (21 of 2013), with the exception of public auction. set forth in the provisions of Article (40) of the aforementioned law.
6- The competent municipal department may own the land for its occupants, as a matter of common ownership as a single real estate unit, in the event that there are areas less than the minimum limits for excretion.
7- The applicant for ownership must comply with the following:
A- The actual beneficiary of the land should be according to the inventory provided by the concerned administrative unit, through a committee headed by the Mayor of Baghdad in the capital, the governor in the governorates, and the membership of the municipal director, the director of urban planning, the director of real estate registration, and a representative of the Ministry of Finance.
b- It is not permissible to own more than one plot of land for the applicant.
C- To submit an application to the concerned municipality directorate within a period not exceeding 90 days from the date of issuance of this decision.
8- This decision shall be implemented on lands owned by the state, on which residential floors are built with fixed structures, and that it be a regular inhabited residential complex.
9- This decision does not include lands allocated for public benefit projects.
10- The Ministry of Agriculture, the Municipality of Baghdad, municipalities, and administrative units shall follow up on cases of trespassing on agricultural lands and orchards, and take legal measures against trespassers after the enforcement of this decision. Taking into account the opinion of the Legal Department in the General Secretariat of the Council of Ministers, according to its memorandum No. (M. D / S / 2/71/42/310 L. S) dated November 21, 2022, and the observations of some members of the Council of Ministers.
11- The relevant authorities should take the necessary measures to prevent any violations in the future.
The Cabinet also decided the following:
1 – Financing an amount of 10 billion dinars, to the Iraqi National Security Agency, to pay the salaries of the employees of the aforementioned agency, in implementation of paragraphs (1, and 2) mentioned in the book of the Federal Office of Financial Supervision No. (1/1/12/2334) dated February 3, 2022. The accompanying link to Cabinet Resolution (15 of 2022).
2- The Ministry of Finance allocates an amount of 10 billion dinars to the Iraqi National Security Agency, based on the provisions of Paragraph (19) of Table (B) attached to the linking of the Emergency Support for Food Security and Development Law, which is established in Cabinet Resolution (226 of 2022) from device specification.
With the countdown to hold the (Gulf 25) championship in Basra Governorate early next year, and in light of the Iraqi national team’s preparations for the tournament, the Cabinet approved the following:
– Approval of amending Cabinet Resolution (222 of 2022) regarding support for the Arabian Gulf Cup Football Championship, to become according to the following:
Funding of the Ministry of Finance (3000000000) dinars, only three billion dinars to the Iraqi Central Football Association, which is contracting with training staff to lead the national football team and establish training camps, tournaments and matches for the Iraqi national team in preparation for the upcoming benefits, in implementation of the two paragraphs (1, and 2) mentioned in Federal Financial Supervision Bureau book numbered (1/1/12/2334) dated February 3, 2022, attached linking Cabinet Resolution (15 of 2022).
In the context of the government's endeavor to develop the electricity system in Iraq, in a way that contributes to solving many technical problems that impede the distribution network, the Cabinet approved the following:
1- The Ministry of Electricity contracts with a specialized international consulting body for the purpose of developing a plan to implement the smart grid project, provided that the contract takes place within (30) working days, as a maximum, starting from the date of issuance of this decision, as an exception to the instructions for implementing government contracts.
2- The advisory body mentioned in Paragraph (First) above shall review what the Ministry of Electricity offered for the aforementioned project, prepare a list of conditions for each investment opportunity, determine the scope of work, qualification conditions, technical specifications, evaluation of qualified competitors, recommend referral and prepare the contract formula, and the Ministry of Electricity assumes executive responsibilities according to Powers, in coordination with the Ministry of Communications.
3- The implementation of the project through announcing it will be an investment opportunity in accordance with Cabinet Resolution (245 of 2019)
The Council of Ministers continued discussing other issues on the agenda, and issued the following decisions:
First / Approving the recommendation of the Ministerial Council for Human Development (10 of 2022) according to the following:
1- Activating the provisions of Article (8) of Law (14 of 2009) Amending the Civil Service Law No. (24 of 1960), which stipulates (every ministry or entity not associated with a ministry, at the beginning of each year, submits its need for seats The aforementioned ministry, in coordination with the Ministry of Higher Education and Scientific Research, shall prepare a central plan showing the seats allocated to ministries and entities not associated with a ministry according to the state’s need for scientific and professional specializations, provided that the ministries and concerned authorities are notified no later than the end of March of the same year).
2- Requiring employees to adopt the scholarship guide for the Department of Scholarships and Cultural Relations to send employees to all ministries to study in the private alimony channel (those wishing to study during employment), based on the recommendations of the Diwani Order Committee (30 of 2020) for universities exclusively according to the decision of the Opinion Board in the Ministry of Higher Education and Research Scientific taken at the commission’s third meeting on March 7, 2022.
3- Oblige the employees’ employers to calculate the certificate for the employee who obtained it (studying during employment is conditional on him having prior approval of the study from his department according to the actual need for the administrative and scientific structure of the department, taking into account the recommendations of the Diwani Order Committee (30 of 2020), Paragraph (e) which stipulates (approving the granting of academic leave to candidates of ministries and entities not associated with a ministry after checking their need for study leaves and the extent of their conformity with the actual need for the scientific and practical specializations of the concerned ministry, taking into account the scarcity of specialization and its unavailability inside Iraq).
4- Requesting the House of Representatives to complete work with the amendments proposed by the Ministry of Higher Education and Scientific Research, in relation to the law (the foundations of equivalence of Arab and foreign certificates and academic degrees (20 of 2020), with the presentation, that the aforementioned law did not allow the Ministry of Higher Education and Scientific Research to issue instructions facilitate its implementation.
5- Supporting a scholarship program concerned with developing the staff of the Ministry of Higher Education and Scientific Research, ministries and agencies not associated with a ministry, to fill the shortage in the numbers of teaching and functional staff who are referred to retirement, by allocating the necessary funds in the next budget, and limiting the issue of scholarships to the Ministry of Higher Education and Scientific Research without any other. Taking into account the opinion of the legal department in the General Secretariat of the Council of Ministers, set forth in its memorandum numbered (M.D/S/2/5/294 L.C), dated November 10, 2022.
Second / The Ministry of Labor and Social Affairs / Department of Retirement and Social Security for Workers, assumes the employment of (150) volunteers as a daily wage from those who are currently with it, provided that the payment of their wages is from the aforementioned department, without requesting any additional financial allocation from the Ministry of Finance.
Third / Approving the establishment of a public company in the name of (The Engineer) with a capital of one hundred billion dinars, linked to the Popular Mobilization Authority, based on the provisions of Article (8) of the amended Public Companies Law (22 of 1997), taking into account what was stated in the memorandum of the legal department numbered By the issue (S/2/1/106/315 L.P.) dated November 24, 2022, specifying the exact activity of the company.
Fourth: Approving the exemption of Dr. (Falah Hassan Issa), Director General of the Nineveh Health Department, from his job duties, and transferring him from his job to a lower degree than the one he used to occupy before his appointment as Director General, according to the reasons indicated in accordance with the minutes of the investigative committee formed according to the ministerial order issued by the Ministry Ministry of Health No. (101) of June 13, 2022; Based on the provisions of Resolution No. (880 of 1988), due to his incompetence in performing his job duties.
Fifth: Approval of granting the Tehran University of Medical Sciences / International Branch in Iraq / Holy Karbala Governorate an incorporation license, based on the provisions of Article (5 / First) of the Private Higher Education Law No. (25 of 2016), provided that all the notes, which are recorded in the book, are completed. The Ministry of Higher Education and Scientific Research numbered (TAH/C 11594) dated November 22, 2022 for the academic year (2022-2023), taking into account the completion of the notes of the legal department in the General Secretariat of the Council of Ministers, which are confirmed by its memorandum numbered (m. https://altahreernews.com/41023/