Wednesday Evening Iraq Economic News Highlights 8-24-22
Wednesday Evening Iraq Economic News Highlights 8-24-22
“Riyan” Accounts For The Iraqi State.. Oil Continued To Contribute 96% For The Third Month
Shafaq News/ The Ministry of Finance issued the Iraqi state accounts for the month of June for the fiscal year 2022, which indicated that the contribution of oil to the federal budget is still high, reaching 96% for the third month in a row, while an economic expert attributed the matter to high oil prices and zero customs.
Shafaq News Agency continued, the data and tables issued by the Ministry of Finance in the current month of August for the accounts of last June, which showed that oil is still the main resource for Iraq's general budget, reaching 96%, which is the same percentage for the month of last May, which indicates that the rentier economy is The basis for Iraq's general budget.
Through the financial tables, it appears that the total oil revenues for the month of June amounted to 72 trillion and 476 billion and 471 million and 603 thousand and 97 dinars, which represents 96% of the total revenues.
While the total non-oil revenues amounted to 3 trillion and 163 billion and 857 million and 400 thousand and 641 dinars, which constitutes 4% of the total revenues.
While the total oil and non-oil revenues amounted to 75 trillion and 639 billion and 329 million and 3 thousand and 738 dinars, which is the highest by 89.49% over the same period last year 2021, which amounted to 39 trillion and 917 billion and 497 million dinars as a result of high oil prices.
According to the finance report, the revenues for the month of June came from current revenues, which amounted to 75 trillion and 603 billion and 414 million and 231 thousand and 21 dinars, and also came from capital revenues, which amounted to 35 billion and 914 million and 772 thousand and 716 dinars.
For his part, financial expert Hilal Al-Tahhan told Shafaq News, "The high oil prices, which amounted to nearly $100, are behind the high contribution of the oil sector to the general budget, in addition to zeroing customs to support food security in Iraq."
Al-Tahhan added, "The percentage of oil's contribution to the budget is normal in Iraq," explaining that it "represents the rentier economic nature, which is not a modern matter, but this is considered dangerous because of the fluctuations in the dangerous oil market, which we witnessed during the Corona period that Prices dropped to about $20 a barrel.
Al-Tahhan pointed out that "Iraq is still unable to raise non-oil production, which is considered unjustified in light of its reliance on imports to finance its local markets and away from developing and returning its factories that have been suspended for years."
The Prime Minister's Adviser for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021, in an interview with Shafaq News Agency, that the reasons for the survival of the economy are rentier due to wars and the imposition of siege during the past era and the political conflicts we are witnessing today, which led to the dispersal of economic resources.
And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes Iraq at risk of global crises that occur from time to time due to the impact of oil on it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions. LINK
With The Political Escalation, The Dollar Exchange Rates Rose In Baghdad
Shafaq News/ The exchange rates of the US dollar rose against the Iraqi dinar on Tuesday, in the main stock exchange in the capital, Baghdad, with the escalating security tensions today, after declines in the dollar during the past and current week.
Shafak News Agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad registered at 3:00 pm this afternoon 148,150 Iraqi dinars, compared to 100 US dollars.
While the prices for the day this morning were 147,900 Iraqi dinars, compared to 100 US dollars.
Our correspondent indicated that the buying and selling prices increased in the banking shops in the local markets in Baghdad, where the selling price amounted to 148,750 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 147,750 Iraqi dinars per 100 US dollars.
And the judiciary in Iraq decided, earlier on Tuesday, to suspend its work in the country, following a sit-in by supporters of the Sadrist movement in front of the Supreme Judicial Council, demanding the dissolution of the Iraqi Council of Representatives.
Dozens of Sadrists' supporters went earlier this morning to the Supreme Judicial Council and began erecting the sit-in marquee in front of the council's building in a new development of escalation that affected the judiciary after the legislative authority in light of a stifling political crisis the country is going through. LINK
The Marshes Of Iraq Perish With Thirst... And Their Inhabitants Are In The Grip Of Disease! (Video And Photos)
2022-08-24 | 06:59 816 views An ancient heritage and historical civilization, the marshes of Iraq, or as they are called “the Venice of the Middle East”, inestimable beauty and wealth, subject to perishing and suffering from thirst; As a result of many reasons, and one of the affected are the “rural people.” Despite the inclusion of this unique environment in the world on the UNESCO World Heritage List in 2016, this achievement did not spare it, or keep it from the danger of drought.
*The Reasons
In the marshlands of southern Iraq, an unprecedented drought caused new migrations that affected hundreds of families, as well as losses in livestock and crops, which prompted a number of concerned Iraqis to move, including Iraqi activists and bloggers who launched a wide campaign on social media under the title “Save The Marshes of Iraq".
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These areas are witnessing a severe drought this year due to the lack of rain in the last winter season, in addition to the encroachment of neighboring countries on Iraq's water quotas, and the closure of the tributaries of the Tigris and Euphrates rivers that originate from their lands.
According to an AFP report, large areas of the once fertile Hawizeh marshes, which straddle the border with Iran, have dried up and their vegetation has turned yellow, and areas of the Chabayish marshes, which are popular with tourists, suffer the same fate.
While Turkey is building dams steadily, Iran diverts the course of the rivers so that it does not reach Iraq, and it has cut off the Karkheh River, which flows into the Hawizeh Marsh, so the percentage of water imports to it has become zero. significantly on the level of agriculture in Iraq.
These citizens continue in an interview with Alsumaria News, "The orchards of hundreds of dunums of citrus cultivation, such as oranges, in Diyala Governorate have disappeared, in addition to palm trees, which were greatly affected by drought and lack of water."
*Solutions
Externally, although the solutions to the drought crisis are as clear as the sun, through the caretaker government’s resorting to an agreement with the watercourse countries, and the demand to increase Iraq’s water quotas, it has not reached any formula for dialogue with Turkey or Iran.
Internally, Iraq suffers from great waste and waste in the waters of the Tigris and Euphrates tributaries, and the water reserves must be preserved, this was confirmed by the Director of the National Center for Water Resources Management Hatem Hamid.
Hamid added in an interview with Alsumaria News, "We cannot empty the water storage currently, so we are managing it in a sustainable manner to secure drinking water on a permanent basis, noting that" the sectors that have been greatly affected are agriculture and the marshes, as they depend heavily on the water reserves in the dams.
He continues, "The agricultural plan for the winter season has been reduced to 50 percent, as well as the current summer season, in addition to the marshes, so that the water releases to them have been reduced by the same amount."
Other officials in the water resources added in an interview with Alsumaria News, "The currently approved plan includes preserving water reserves and avoiding its waste, despite the impact on agriculture and the marshlands, as the absence of cooperation from neighboring countries deepens the seriousness of the situation."
* Effects Of Dehydration
There are many crises that Iraq suffers from, including unemployment, poverty and disease, but when the alarm bells reach the water, here stands the lives of Iraqis, and as it is known that “water is the lifeblood,” so the lack of releases and Iraq’s water quotas threaten 40 million people.
In turn, Adviser to the Parliamentary Committee on Agriculture, Water and Marshlands, Adel Al-Mukhtar points out that "water resources are not able to solve the water crisis.
Al-Mukhtar explains that "Iraq is threatened with complete drought, if the rains do not fall by the end of the current year," stressing "there is an international failure towards the marshes."
He shows that "the marshes suffer from neglect and negligence, and the Turkish carrot dam will kill Iraq," expressing his astonishment at "the Iraqi government's silence regarding the water file." LINK
Nechirvan Barzani: There Is An Opportunity For US Cooperation With Kurdistan In The Field Of Investment
Erbil (Kurdistan 24) - The President of the Kurdistan Region, Nechirvan Barzani, confirmed today, Wednesday, that there is an opportunity for American cooperation with Iraq and Kurdistan in the field of investment and the private sector. This came during a meeting with Nechirvan Barzani, the new US Consul General in the region, Ervin Hicks Jr.
A statement issued by the Presidency of the Region stated that the American Consul expressed his happiness at undertaking his duties in the Kurdistan Region and reiterated his country's desire to strengthen relations with the Kurdistan Region, while the President of the Region expressed the full support of the Kurdistan Region to him in this context.
The two sides discussed the latest developments in Iraq and the problems that stand in the way of the political process. In this regard, Nechirvan Barzani reiterated that the solution to the Iraqi situation comes only through dialogue and understanding on the basis of the constitution. His Excellency also spoke about the internal conditions of the Kurdistan Region and the importance of the unity of the political parties in the region. Kurdistan.
Regarding relations, His Excellency the President of the Region stressed the existence of opportunities for cooperation between America, Iraq and the Kurdistan Region, especially in the fields of investment and the private sector.
The two sides discussed the war on terrorism and ISIS threats, the importance of developing democracy and protecting human rights, freedoms and freedom of expression in the Kurdistan Region, the situation in the region in general, and a set of issues of common concern that formed another focus of the meeting. LINK
Iraq Announces Reaching The Final Stages Of Activating Transit At Its Border Crossings
Baghdad / Al-Mawrid News Today, Wednesday, the Minister of Transport, Nasser Al-Shibli, announced that the final stages of activating transit at the border crossings had been reached, while he stressed work to reconsider the prices of airline tickets on Iraqi Airways.
Al-Shibli said, in a statement to the official agency, that "the Board of Directors in the Ministry of Transport is working to reconsider the prices of airline tickets on Iraqi Airways within a study on the basis of which the price will be determined."
He added, "The ministry has about 800 double-decker and double-decker buses, and it is in the process of contracting new buses with self-financing, especially since the existing buses do not cover the needs of the streets and there is a significant shortage in the number of drivers."
He explained, "The ministry has addressed the General Secretariat of the Council of Ministers in order to appoint new drivers, especially since the shortage in the number of drivers has reached about 400 drivers, and there are no new appointments due to the lack of approval of the budget."
He pointed out that "the ministry has reached the final stages regarding activating the transit, as a contract was signed with the Uruk company, and the trucks will be equipped with GPS technology," stressing that "work is underway to complete the secondary stations at the seven Iraqi ports, and then the transit will be opened in Iraq." https://almawrid.news/contents/view/details?id=53611
The World Bank Sets The End Of 2023 To Implement E-Governance
Money and business Economy News-Baghdad The World Bank has set the end of next year 2023 as a time limit for all state institutions to implement e-governance programs .
A member of the United Nations Convention against Corruption coalition and head of the Al-Nahrain Network to Support Integrity and Transparency, Muhammad Rahim Al-Rubaie, said in a statement reported by the official "Al-Sabah" newspaper, "The World Bank finances governance processes, which must be implemented by all state institutions, especially those of public interest, including the ministries of oil and finance." He pointed out that "it has been funding the Ministry of Finance and the Extractive Industries Transparency Initiative for years to implement projects related to this matter ."
Al-Rubaie added, "The governance program emphasizes the need for institutions to publish financial statements and contracts to demonstrate the financial impact of these explosive budgets in society," noting that its application comes to enhance transparency, noting that "the lack of transparency in Iraq is enough to stop international grants and international investors to implement projects within the country."
He continued, "There is a great danger if the project is not implemented in all institutions, especially in the health sector, as a large proportion of the budget allocated to it depends on international grants," noting that "until now no department has expressed its cooperation in this aspect, even If there is work, it is not visible. 63 . views Added 08/24/2022 - 10:12 AM Update 08/24/2022 - 1:24 PM