More Iraqi News Tuesday PM 4-20-21
More Iraqi News Tuesday PM 4-20-21
TLM724 Administrator BondLady’s Corner
Postponing the parliamentary session to next Thursday
Time: 04/20/2021 15:08:03 Read: 1,664 times {Politics: Al-Furat News} The Presidency of the House of Representatives postponed the session scheduled for today to next Thursday. The session was scheduled to take place today, but the lack of a quorum prevented it. LINK
Today ... The Central Bank’s Hard Currency Sales Fell By 2.7 Percent
Economie| 02:33 - 20/04/2021 BAGHDAD - Mawazine News The Central Bank of Iraq’s hard currency sales fell, on Tuesday, to $ 203 million.
The Central Bank’s auction for the sale and purchase of foreign currencies today witnessed a decrease in sales by 2.7 percent to reach 203 million and 654 thousand and 124 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.
The purchases amounting to 185 million 444 thousand and 124 dollars went to strengthen the assets abroad in the form of transfers and appropriations, while the banks bought 18 million and 210 thousand dollars in cas
Thirty-one banks responded to requests to enhance assets abroad, 18 banks to fulfill cash requests, and 18 participating exchange companies.
This was the central bank sales of hard currency yesterday, Monday, has reached 209 million and 454 thousand and 659 dollars. Ended 29 / p4 https://www.mawazin.net/Details.aspx?jimare=150366
Iraq Stock Exchange Reveals The Volume Of Shares Traded For Today!
Economie| 03:01 - 20/04/2021 Baghdad - Mawazine News The Iraq Stock Exchange announced, on Tuesday, that it has traded more than 883 million shares, with a financial value of more than 720 million dinars.
The market indicated in data published and reviewed by Mawazine News that, "The number of companies whose shares are traded during the day amounted to 31 companies out of 103 companies listed in the market," explaining that "the number of companies arrested by the decision of the Securities Commission for not adhering to financial disclosure instructions reached 19 a company".
The market pointed out that "the number of traded shares amounted to 883 million and 664 thousand shares, with a financial value of 720 million and 209 thousand dinars," indicating that "the ISX60 traded price index closed at 590.80 points, a decrease of 0.91% from its closing in the previous session."
He stressed that "the shares purchased from non-Iraqi investors amounted to 3 million shares, with a financial value of 17 million dinars through the implementation of 8 deals on the shares of one company, while the shares sold by non-Iraqis in the market amounted to 36 million shares, with a financial value of 34 million dinars through the implementation 16 deals on shares of 6 companies. Ended 29 / p4
https://www.mawazin.net/Details.aspx?jimare=150372
Low Dollar Prices In Baghdad
Time: 04/2020 10:39:56 Read: 9,711 times {Baghdad: Al Furat News} The exchange rates of the dollar fell today, Tuesday, on the main stock exchange in the capital, Baghdad.
The central Al-Kifah and Al-Harithiya Stock Exchange in Baghdad registered 147,800 Iraqi dinars for 100 US dollars. While the Central Al-Kifah Stock Exchange registered 148,100 Iraqi dinars, during its opening on Monday morning.
The selling and buying prices witnessed a decline in the exchange shops in the local markets in Baghdad, where the selling price reached 148,250 Iraqi dinars, while the purchase prices reached 147,250 dinars per 100 US dollars. LINK
Parliamentary Finance Responds To The Ministry About Budget Errors .. And A Legal Expert: What Happened Is A Scandal
Time: 04/2020 15:58:47 Read: 3,393 times {Local: Al Furat News} The Parliamentary Finance Committee responded to the statement of the Ministry of Finance, which implicitly bears the parliament regarding the errors in the fiscal budget law for 2021.
The head of the committee, Haitham al-Jubouri, said, "The revenues were not included in the financial, the foreign workers’ work fee, the expected sales tax for cigarettes and alcoholic beverages, the amount of crude oil sold to the refineries, and the water revenues after increasing them. "
He added, "They are collecting the debt with the operational ones, while they are in the original version of the project. They separated them from each other, so we separated them as well."
"As for capitalism, because we have adopted two separate numbers as it came from the ministry that it is the projects financed by the treasury and the second part financed by loans," Al-Jubouri added, pointing to "the amendment of the tables' numbers (A, C, D and E). It must be changed from the Ministry of Finance and not from The committee made our judgment to change it based on the amendments to schedule {B} amended according to the text of Paragraph {g} of Clause IV, Article 2 First. "
For his part, charged a legal expert, the House of Representatives, that there are errors in the fiscal budget law.
Jamal Al-Asadi said in a press statement, "The presence of errors in the tables and texts of the 2021 budget announced in the official gazette, along with what another copy of the budget constitutes a scandal on the date of publication in the Iraqi newspaper Al-Waqi’a, wondering how the law was published with the financial difference in the two versions, which amounts to about 35 trillion dinars?
He stressed, "The need to open an investigation into the matter to find out who sent the budget copy to the Iraqi newspaper Al-Waqa'i’, and to find out if the transmitted copy is the same that carries errors, or there are wrong schedules attached, "pointing out that" the House of Representatives is the one who bears the responsibility. "
The legal expert stressed the need for the House of Representatives to submit an official apology that explains the error in the budget, adding: “There must be filtering by the House of Representatives before sending the budget law to the Presidency of the Republic.
He continued, that in accordance with the laws, what is published in the Official Gazette is legal, in the sense that the budget law came into force, pointing out that he is supposed to the House of Representatives to publish a correction of this error in the newspaper facts. "
The Ministry of Finance of the Federal Government has been determined, Earlier today, Tuesday, there were errors in the tables and texts of the 2021 budget announced in the Official Gazette, and the Presidency of the Republic will be approached for the purpose of correction.
The ministry added, in a statement PUKmedia obtained a copy of, that it has started auditing procedures for the 2021 Federal Budget Law after approval by the President of the Republic in accordance with the powers vested in us.
She indicated that she had started with the procedures of auditing the Federal Budget Law No. (23) for the year / 2021 that was published in the Official Gazette No. 4625 on 12 / April / 2021, noting that they were noticed that there were errors in the tables and texts, the matter that will be approached by the Presidency Office for the purpose of Issuing a correction statement in accordance with the authority granted to them under the provisions of Article (of the Law of Publication in the Official Gazette No. (78) of 1977).
And she continued, as all the errors that were mentioned in the draft project sent by the House of Representatives according to her letter No. 1/9/3022 on 6/4/2021 and sent by the Presidency of the Republic to the Official Gazette according to her book No. / 4/2021 and shown below: -
1- In Article 1 / First / A, the federal budget revenues for the fiscal year 2021/2021 (101320141984) are estimated one thousand dinars, as indicated in Table (A), the revenues are according to the numbers attached to this law.
While the table (A) was not amended according to the total revenues referred to above, but rather the total revenues sent by the government project, which amounted to (93159954484) thousand dinars, were retained.
2- Article 2 / First / Expenditures also mentioned an amount (129993009291) thousand dinars for the year / 2021 of them.
1-A- Operating expenses (90559139482) one thousand dinars distributed according to field (1, 2 and 3) of Table (B) expenses according to the ministries.
While the correct total is (98974139482) one thousand dinars and not (90559139482) one thousand dinars, because the additional operational fields are not included, because the last amount is the sum of the column number (1) field plus (1882000000) one thousand dinars, the new operational amounts
3- As for the total capital, it was mentioned within the same law in the amount (29136869809) one thousand dinars (twenty-nine trillion one hundred and thirty-six billion eight hundred and sixty-nine million eight hundred and nine thousand dinars) distributed according to (field / 4 total expenditures) of (table / b) expenditures According to the ministries) and Schedule (E) attached to this law, including the following sums.
While it was mentioned in Schedule (B) prepared by the House of Representatives an amount of (25713294605) thousand yen, and when adding the new additional capital field contained in Table (B) prepared by the House of Representatives, it will be (29136869809) one thousand dinars and that the total amount contained in the table attached to the law sent from Before the government,
it is (27757619729) a thousand dinars, which cannot be approved because Parliament has reduced the total capital expenditures, and schedule (E) referred to in paragraph (3) above cannot be approved because the original schedule was not approved by the House of Representatives, but was changed according to Schedule (B).
4- It was also mentioned in the schedule of page (9) regarding Paragraph (Third) Deficit 1 = (A + B) Total revenues (320141984101) one thousand dinars and it does not match the total of Paragraph (A + B). Republic for the purpose of issuing the above correction statement. LINK
Al-Faw Port ... The New Global Trade Route
Tuesday 20 April 2021 109 Baghdad: the pillar of the emirate When you look at the economic benefits achieved by the large port of Al-Faw, you realize the importance of this project, which is an important link between the poles of the eastern and western world, and the resulting economic feasibility that changes the shape of the Iraqi economy. Economic around the world.
Prime Minister Mustafa Al-Kazemi had laid, in recent days, the foundation stone for the large port of Al-Faw, which would provide 500,000 jobs and stimulate global and regional trade, and could be used as a strategic option to transport natural gas from the Arab Gulf to Europe via Turkey.
world Trade
The expert in the Strategic Center for Arab and International Studies, Dr. Ahmed Al-Rawi said, "Iraq is in dire need to develop the reality of its economy, and this requires the establishment of major projects in all sectors, including in the transport sector. The large port of Faw comes at the forefront of these projects as it contributes to the development of global trade movement through the dry transit channel from the southeast Asia to Europe and vice versa, and studies expect that the dry canal will achieve more economic returns than the Suez Canal in Egypt, due to the low cost of transportation and the shortening of the distance across Iraq between Asia and Europe.
foreign investment
Al-Rawi added, "Al-Faw port will complement or substitute the port of Umm Qasr and Khor Al-Zubair in the event of any impacts from the construction of the Kuwaiti port of Mubarak, and the development of free zones and the establishment of a free zone close to the port will help attract foreign industrial and agricultural investments, especially since the southern region provides Opportunities for investment, as it provides natural resources and suitable manpower and its proximity to the port,
pointing out that it “provides many job opportunities, especially for the citizens of Basra, and limits the aggravation of the unemployment problem in the country, as well as the indirect employment opportunities that will be provided by the development of the service sectors, the transport sector and other sectors. The level of the country through the sectoral overlap that the port of Faw will provide. "
Natural gas
In a related context, the academic d. Abdul Karim Al-Issawi, "The port of Al-Faw will be able to receive large ships that the rest of the Iraqi ports cannot receive, and it is possible to establish berths in the port to transport liquefied gas, especially since Iraq is on the verge of developing its production of liquid natural gas, and in the end the port will contribute to the gas trade." The sluice will cross its piers if fully invested. "
Sources of income
He continued, "There is a possibility of establishing a refinery to produce petroleum products and rehabilitating the petrochemical plant in Basra to market its products through the port, as this leads to the development of petrochemical industries and enables diversification of sources of income and not being satisfied with the export of oil."
Al-Issawi pointed out that "the large port of Al-Faw will lead to the development of the Faw area by establishing an electric power plant and a desalination plant to meet the needs of the port and its workers while developing roads and bridges to facilitate transportation operations to and from the port."
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