Zig’s Place Chatroom News Monday AM 10-11-21

Zig’s Place Chatroom News Monday AM 10-11-21

Zig:  Welcome to zig's place, a chat room for dinar speculators and others....discuss any topic that you wish here

Butterfly   Brent crude jumps to $83.71 a barrel

Monday 11 October 2021 Oil prices rose again today, Monday, to continue their gains over several weeks, as the energy crisis plaguing the major economies shows no indication of a decline amid supply restrictions from major producers.

Brent crude rose $1.32, or 1.61%, to $83.71 a barrel, after rising about 4% last week. US oil rose $1.59, or 2 percent, to $80.94 a barrel, the highest level since late 2014.

Coal and gas prices also rose as economies recovered, making oil more attractive as a fuel for power generation, pushing crude oil markets higher.  https://ninanews.com/Website/News/Details?key=932407

butterfly   Economist to / Nina /: Many economic problems await the new government

Monday 11 October 2021 The expert in economic affairs, Raad Twij, confirmed: "The new government will find many economic problems that need thoughtful solutions after the success of the elections."

Twig said in a statement to the National Iraqi News Agency / NINA /: "The new government awaits economic problems that need solutions and radical treatments, such as the exchange rate, unemployment, population inflation, slums, poverty, underdevelopment of industry, agriculture and electricity deficit."

He added, "The government will inherit a rentier economy, import consumption, and education that suffers from the consequences and shadows of the Corona crisis, Iraq's exit from knowledge and the low level of human development."

The economic expert pointed out: “The success of the elections can have a significant impact on political and economic stability, if there is a sound economic vision,” noting: “Iraq is going through an economic growth of 1% after the rise in oil prices to $80 a barrel, and It is possible that the economic growth rate will rise to 2% with the success of the elections, as sound democratic practices reduce cases of corruption and make disclosure and transparency a feature of the Iraqi economic situation. https://ninanews.com/Website/News/Details?key=932420

butterfly  A slight decrease in the price of the dollar against the dinar on the local stock exchange

Monday 11 October 2021 The exchange rates of the US dollar fell against the Iraqi dinar, today, Monday, in the main stock exchange in Baghdad and banking shops.

Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded this morning, 148,200 Iraqi dinars, compared to 100 US dollars.

And the prices on the Baghdad Stock Exchange recorded yesterday, Saturday, 148,450 dinars, compared to 100 US dollars, and it closed its doors yesterday due to the general voting process for the Iraqi elections.

The selling price was also recorded at 148,750 dinars, and the purchase price was 147,750 dinars, for every 100 US dollars, in banking shops in the local markets in Baghdad. https://ninanews.com/Website/News/Details?key=932435

butterfly   World Bank: Iraq's GDP growth by 0.9% on an annual basis

Monday 11 October 2021 The World Bank announced: "The gross domestic product in Iraq grew by 0.9% on an annual basis in the first half of 2021," expecting an improvement in the debt-to-GDP ratio.

And the bank stated in a report, that “economic growth in Iraq is gradually recovering after the downturn associated with the epidemic last year, due in part to the rise in non-oil activity,” expecting that “improving global oil market conditions will enhance growth in the medium term and shift financial balances.” Public and external surpluses from 2021, and the recent rise will be reflected in debt.”

He added, "Iraq's GDP grew in the first half of 2021, by 0.9% on an annual basis, and the non-oil economy grew by more than 21% in the first half of 2021 (on an annual basis) due to the strong performance in the service sectors," noting This recovery has outpaced the slowdown in the oil sector, down 10% in the first half of 2121, as Iraq adapted to its OPEC+ quota early in the year.

He pointed out that "the prospects for the Iraqi economy have improved with the recovery in global oil markets, but the spread of new COVID-19 variables and the challenges of climate change are major headwinds," expecting the economy to gradually recover against the backdrop of high oil prices and OPEC + production quotas that are scheduled to be gradually canceled. In 2022, oil GDP will therefore be the main driver of growth in the medium term.

” The bank predicted that “non-oil GDP in Iraq will recover, but remain below 3% on average in 2021-2023 due to the impact of a variable COVID-19 Delta. This is in addition to the lack of water and electricity that affects agriculture and industries,” noting that “the public financial balance is expected to remain in surplus in the medium term, which leads to a steady improvement in the debt-to-GDP ratio.” https://ninanews.com/Website/News/Details?key=932449

butterfly   Al-Kazemi’s advisor: The rise in oil prices will push the government not to borrow to fill the deficit

Monday 11 October 2021 | 12:14 pm  Al-Kazemis advisor - The rise in oil prices will push the government not to borrow to fill the deficitThe financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed on Monday that the rise in oil prices will prompt the government not to borrow to fill the budget deficit .

Saleh said, “The rise in oil prices will fill the deficit in the budget, but this rise needs to be sustained and throughout the fiscal year .”

He added, “The budget has set the price of a barrel at 45 dollars, and therefore what concerns us is calculating the average price of a barrel during one year,” expecting that “the average price of a barrel during 12 months is 65 dollars a barrel or a little more .”

He pointed out that “this price would fill in whole or part of the deficit in the budget instead of going to borrow to fill this deficit,” noting that the budget was built on a deficit of 27 trillion dinars during the current year.

aynaliraqnews.com

butterfly   The Commission sets the date for announcing the results and the percentage of participation in the elections

Posted, 10-11-2021 The Commission sets the date for announcing the results and the percentage of participation in the electionsThe Chairman of the Board of Commissioners of the Independent High Electoral Commission, Jalil Adnan, revealed Sunday, the date for announcing the percentage of participation in the elections.

“The announcement of the percentage of participation in the elections will be within the next few hours,” Adnan said in a press conference.

And he indicated, “The announcement of the election results will be within the next 24 hours, not after 24 hours.” He added, “The technical defect that occurred in some electoral centers was quickly addressed.”

He concluded his speech by saying that “the project was difficult and long in order to make the electoral process successful.”   burathanews.com

Dave   The highest winners in the Iraqi elections: the Sadrist bloc is Shiite, Sunni progress, and the Democrat is Kurdish   October 11, 2021 Walter

Dave   Glad Maliki's SLC did not win.......Wonder if Nouri kept his seat?

Dave   Baghdad – Mawazine News  won several blocs, the first places in the Iraqi parliamentary elections that took place yesterday.

At the level of Iraq, the Sadrist bloc ranked first with 73 seats, the highest among the Shiite blocs.

A coalition headed by former parliament speaker Muhammad al-Halbousi won first place among the Sunni regions, with more than 40 seats, according to what the coalition announced.

Within the Kurdish regions, the Kurdistan Democratic Party won the highest seats with more than 32 seats. Ended 29 / h    https://www.mawazin.net/Details.aspx?jimare=170777

butterfly   Doug_W did you see this one from that website? Al-Sadr: We will work to raise the level of the Iraqi dinar

political| 08:52 Baghdad - Mawazine News The leader of the Sadrist movement, Muqtada al-Sadr, pledged on Monday to end the use of weapons outside the framework of the state and improve the economic, health and educational situation, while stressing that the Sadrist bloc is the largest bloc to form the government.

Al-Sadr said in a televised speech, which was followed by "Mawazine News", that "all embassies are welcome unless they interfere in Iraqi affairs and form the government," explaining that "any intervention will have a diplomatic response or perhaps a popular response befitting the crime, because Iraq is for Iraqis only."

Al-Sadr added, "We will not allow interference at all, and from now on, weapons must be confined to the hands of the state, and it is forbidden to use them outside this framework, even those who claim resistance."

Al-Sadr continued, "It is time for the people to live in safety without occupation and militias kidnapping and detracting from the prestige of the state. Iraq is the Iraq of reference, wise men and dignitaries, and we will follow their advice."

Al-Sadr indicated that "from now on, the government and parties will not have control over money and goods, but rather it is for the people, and every corrupt person will be held accountable, whoever he is, and that the people's oil is for the people."

And he pledged, "We will work to raise the Iraqi dinar to be in the ranks of global currencies gradually," pointing out that "reconstruction, industry, trade, education and health will have a great effort, and there is no difference between one governorate and another except to the extent of the need and its population census."

butterfly   Al-Sadr indicated that "the infidel Ba'ath was removed with the blood of the Iraqis, and we will remove corruption with our blood, and the people will be dignified at home and abroad, and they will be watching over us."

Al-Sadr concluded, "The people should celebrate the largest bloc without armed manifestations and without disturbing others."

Zig   "We will work to raise the Iraqi dinar to be in the ranks of global currencies gradually," ....... :Happier: We're gonna be rich!!!!.....lol

Doug_W  that would be great IF it happens

Doug_W   Zig did she ask YOU?

butterfly   Has it been posted that who will be the next prime minister?

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