Saturday AM Iraq Economic News Highlights 8-13-22

Saturday AM Iraq Economic News Highlights 8-13-22

Economist: Disrupting Budget Approval Destroys The Iraqi Economy

Posted On2022-08-12 By Sotaliraq   Today, Friday, the economic expert, Mahmoud Dagher, stressed that approving the country’s general budget is still an urgent necessity to support the Iraqi economy, as the food support law did not cover all aspects, specifically the investment aspect, which is one of the most important aspects in the budgets.

Dagher said, "Disrupting the approval of the budget destroys the Iraqi economy because it negatively affects important sectors that need large investment projects, and at the forefront of those sectors is electricity, which needs projects in production, transportation and distribution, as well as public transportation methods."

Noting that "the public roads, particularly those linking the center and south with the Kurdistan Region, are very bad, and the presence of negatives in those roads not only affects the high rate of accidents, but also raises the price of goods due to the high risk of being damaged."   LINK

After The Budget Was Delayed, The Fate Of The Salaries Of Employees And Retirees Was Revealed - Urgent

2022-08-13 | 04:54   Source:  Alsumaria news   6,172 views     And earlier, legal expert Jamal Al-Asadi confirmed in a tweet on Twitter: “There is no legal text in the Financial Management Law that allows the disbursement of any money from spending units to finance budget expenditures after the end of the fiscal year in which there is no budget at all, and therefore we are in a legislative vacuum. It is very possible that all expenses, including employee salaries, will stop from January of 2023.”   LINK

Al-Saadi: The Employees' Salaries Are Secured And Their Disbursement Cannot Be Stopped In Any Way[/Size]

Political | 09:18 - 13/08/2022   Baghdad - Mawazine News  : The resigned deputy from the Sadrist bloc, Ali Hussein Al-Saadi, confirmed, on Saturday, that the employees' salaries are fully insured.

Al-Saadi said in a statement seen by Mawazine News, "A paid trumpet comes out from time to time whose aim is to mislead public opinion in a desperate attempt to spread malicious rumors to achieve suspicious goals."

Al-Saadi added: "A media statement was issued by one of those trumpets recently, warning against stopping the payment of employees' salaries on the pretext of delaying the formation of the government," stressing that "the salaries of employees are secured and their disbursement cannot be stopped in any way, even if the government is not formed or the general budget of the country is approved."

Al-Saadi explained that "it is possible to disburse salaries and run the rest of the state's affairs through the effective financial management law that the country is going on according to the principle of 1 / 12 disbursement," noting that "the salaries of employees were disbursed despite the absence of a budget as well as this year with a caretaker government. current business". Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=202270

The Dollar Rises Against The Iraqi Dinar

Economie| 11:01 - 13/08/2022   Baghdad - Mawazine News  The dollar exchange rates witnessed, today, Friday, a slight increase in the Iraqi Stock Exchange.

And the selling prices of the dollar were 148,600 dinars per 100 dollars, while the purchase prices of the dollar were 148,500 dinars per 100 dollars.   https://www.mawazin.net/Details.aspx?jimare=202279

The Ministry Of Construction Reveals The Percentage Of Completion Of The Baghdad-Kirkuk Road Maintenance Project

Iraq   11:19 - 2022-08-13  Today, Saturday, the Ministry of Construction, Housing and Public Municipalities confirmed the continuation of its engineering and technical staff to implement the project to rehabilitate and maintain the Baghdad-Kirkuk road, noting that the road was badly damaged as a result of loads and terrorist acts.

And the ministry’s media center said in a statement, “The ministry, in the interest of road pedestrians and their safety, referred it to several sections. The first section starts from Baghdad towards the Khalis district, with a length of 32 km (back and forth), where the road is exposed and burial work is carried out with layers of dirt and layers of gravel layers for an area. exposure".

The statement added that "the second section extends from Al-Khalis towards Al-Azim with a length of 50 km, and from Al-Azim towards Najana with a length of 30 km (back and forth), and the works included removing the damaged parts, grooves, scraping the return corridor, and compensating the stone layer with the sandbar, in addition to completing 14 bridges completely. Work continues on the remaining ten arches.

He explained that "the third section extends from Najana - Khurmatu (Al-Zuha corridor) with a length of 46 km, where scraping works were completed for 20 km of the road, in addition to cleaning and wiring 38 bridges and 30 manholes with an 18 km asphalt modification layer."

The statement continued, "The length of the fourth section is 162 km and extends from Khurmatu district to Kirkuk with a length of 58 km for the back and forth corridors, and from Najana to Al-Tuz with a length of 46 km for the return corridor only, where parts of the road are exposed and work is underway with earthworks, and compensatory stone works for the uprooted areas.

The work of arches and pouring sections of the road, including the entrance to the city of Khurmatu, and the work of brushing the corrective layer for a section of the road began.  https://kirkuktv.net/AR/Details/8157

The Federal Court will consider the constitutionality of the Food Security Law next Monday

Shafaq News/ The Federal Court (the highest judicial authority in Iraq) will hold the first special session on Monday to consider a case regarding the Emergency Support Law for Food Security and Development.

The Iraqi Council of Representatives, in its session held on June 8, in the presence of 273 deputies and headed by the Speaker of the Council, Muhammad al-Halbousi, voted on the law (emergency support for food security and development) in general.

And the Federal Court stated in a schedule of its tasks seen by Shafak News Agency, that "the court will hold a special session on Monday, August 15, 2022, to consider the case to challenge the constitutionality of some articles of the Emergency Support Law for Food Security and Development."

She explained that the plaintiff (in the name of Khazal Khashan) and the defendant, the Speaker of Parliament (Mohammed al-Halbousi), in addition to his job.   LINK

A Slight Decrease In The Exchange Rates Of The Dollar In Baghdad

Shafaq News/ The exchange rates of the US dollar decreased slightly against the Iraqi dinar, on Saturday, in the main stock exchange in the capital, Baghdad.

Shafak News Agency correspondent said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning 148,550 Iraqi dinars, compared to 100 US dollars, while the prices recorded last Thursday were 148,600 dinars.

Our correspondent indicated that buying and selling prices have stabilized in banking shops in the local markets in Baghdad, where the selling price amounted to 149,000 dinars per 100 dollars, while the purchase prices amounted to 148000 dinars.

In Erbil, the capital of the Kurdistan Region, the dollar exchange does not trade on official holidays, but the exchange shops in the local markets traded the dollar, as the selling price reached 148,600 dinars for every $100, and the purchase price was 148,500 dinars for $100.    LINK

Looting Misses Japanese Loan For Basra Water Desalination Project

Baghdad / Obelisk: Documents and maps, 10/8/2022, revealed the existence of great corruption suspicions in the Basra water desalination project in the Hartha area, which is funded by a Japanese loan and the Iraqi government.

According to the documents, the works of the first phase of the project have been reduced, which included extending a network of transmission lines for 13 sectors to become a single line that reaches Saad Square, Al-Ashar neighborhood, and back to the Al-Maqal area, which means deleting about 75 percent of the project, which indicates To the existence of a corruption deal that allows the executing company to take possession of the funds allocated for this stage.

According to the maps, the works of the first phase include extending the network of transmission lines to 13 ZOON sectors covering all areas of the center of Basra Governorate and Al-Haritha district, and access to fresh water, but another map shows that the project management, in coordination with the consulting company and the executing company, canceled these sectors and was satisfied with a transmission line One passes along Baghdad Street in the governorate, and reaches Saad Square (central Basra), and ends with the official liquefaction water network, which is supposed to be replaced by the new network of the project. https://almasalah.com/archives/10071

The Iraqi Water Deficit

The Iraqi Water Deficit 

The Iraqi Minister Of Environment: The Water Deficit Will Reach About 11 Billion Cubic Meters In 2035

Posted On2022-08-12 By Sotaliraq   The Iraqi Minister of Environment, Jassem Hammadi, announced that Iraq is “close to 100 days of dust storms of varying intensity during the year” and is likely to increase, noting that “the government’s economic losses in one dusty day exceed 10 billion dinars.”

The Iraqi Minister of Environment said that "Iraq loses 100,000 dunams of agricultural land annually due to drought," stressing that "Iraq has not reached this level of great shortage in its water storage for more than 70 years."

Jassem Hammadi revealed that Iraq has now crossed the stage of water deficit to the so-called water forestry, during which the average citizen does not get his minimum daily needs of 250 liters.

He revealed that "the water deficit will reach about 11 billion cubic meters in 2035," expressing his support for "the regions of the Kurdistan Region to be water storage areas to achieve water security for all of Iraq."

The following is the text of the interview with Iraqi Minister of Environment Jassem Hammadi:

* During this summer, Iraq witnessed more intense and intense dust storms compared to previous years. Are there any figures in the Ministry of Environment about the increase in the number of dust storms this year compared to previous years?

Jassim Hammadi: Dust storms are not recent, and even in the Sumerian figures there is a mention of the occurrence of dust storms, because Iraq is really surrounded by deserts, and this is one of the most important reasons that make it hot spots,

but we must know that the frequency of dust storms has increased a lot in recent years, and the reason Its increase is the impact of urgent climatic changes on Iraq, which was classified as one of the five countries most affected by climate changes, accompanied by a decrease in rainfall rates, and a decrease in our water revenues from upstream countries, with a steady increase in temperatures, and these factors led to an increase in drought rates.

When drought rates increase, desertification and land degradation rates increase, and as a result, dust storm rates increase. This year, yes, dust storms have increased.

* What are the ways to deal with dust storms?

Jassim Hammadi: The issue of dust storms is part of an integrated system of Iraq being affected by a region of major climate extremism. We are classified, as I mentioned, as one of the most affected countries in the world. We have a real problem with an imminent threat, perhaps one of the greatest national security threats in this country, which is the threat of drought.

And you know, that we have great fear of the repercussions of diminishing our water revenues, whether it is in the Kurdistan Region or in the rest of the federal regions of Iraq, and we may not have reached this level for a very long time from the poor amount of water stored in our dams.

For more than seventy years, Iraq has not reached this diminishing rate of our water revenues and our water reserves. You know that four out of the ten regions in which the highest temperatures were recorded in the world are located in Iraq, and they are in Nasiriyah and Basra this summer, temperatures of up to 50 degrees Celsius.

Facing the impact of dust storms means, there must be a strategic plan to confront drought, and when I say to confront drought, because we have a problem, more than 95% of dust storms that came to us, rather 99% of dust storms that affected all of Iraq, including the region, Coming from the Syrian Badia desert, which is the desert of Deir ez-Zor, and the real reason is that these areas previously contained agricultural irrigation, reclamation and afforestation projects, but their departure for more than 15 years from the control of the Syrian state, with the intensification of the movement of the military sectors of armed groups, led to the deterioration of the soil And now it has become a dust storm area, not only for Iraq, but for other countries such as Kuwait and Iran. Yes, Iran is also suffering.

* Do we have such plans?

Jassim Hammadi: You should know that we have cadres of which I am proud, whether in my ministry, or in the Ministry of Water Resources or in other ministries.

Our real problem in Iraq is that we need an advanced strategy for rational management of our water revenues, as well as an integrated national vision to deal with the policies of the neighboring countries, which are the upstream countries, and you know that Iraq today gets less than 30% of its previous water revenues, taking into account Consider that we have an increase in the population of up to 3% annually,

 that is, the Iraqis are increasing at a rate of one million and 300 thousand annually, and accordingly it is assumed that there will be an increase in our water share from the upstream countries, but in fact we are suffering from large projects, especially dam projects. On the Turkish side, we have a decrease in our water revenues to less than 30%, while the Iranian side cut completely 42 tributaries and rivers.

Therefore, the drought treatment policy, you must bear in mind, that we lose 100,000 dunums annually of arable land that becomes desertified, and outside the agricultural plan as a result of drought. The southern regions, especially Basra, Dhi Qar, Maysan and Muthanna, suffer from a significant change in the quality of water, meaning that it is unfit for human use, and sometimes not even suitable for other uses.

As you know, we have agricultural and industrial uses, electric power plants, and the oil industry, of course the water quality is very poor.

* Experts expect that the number of days we witness dust storms will reach 300 days by 2050. Is this realistic?

Jassim Hammadi: We have 100-year climate scenarios. The Iraqi government has recently taken serious steps to follow up on developments in the world. The world is talking about the environment. In the past, environmental issues were luxury topics that people and scientific elites talk about in salons.

Today, they have become a part of foreign policy and the economy, and part of the national security of countries. We are a highly threatened country.

 It includes 18 intelligence agencies, and indicated that there are 12 countries in the world, whose national security is exposed to serious risks due to climate changes, including Iraq, which was mentioned three times, for reasons first related to the health aspect, for the direct impact of climate changes on the health sector, which is represented in an increase Rates of communicable diseases due to drought, land degradation and desertification, and the direct impact of dust storms on increasing rates of respiratory diseases such as asthma and allergies, and the economic losses associated with them, in addition to losses and diseases related to water quality change.

Second, economic activity was affected. Our losses in one dusty day amounted to more than 10 billion dinars in the economic aspect. In just one day. This is certainly a result of the impact of land and air transportation, and the export of oil, in addition to the great pressure on emergency wards in hospitals.

* These are the losses of the government side only?

Jassim Hammadi: Yes, this is the minimum cost of environmental damage. Every environmental damage has a cost. The World Bank mission in Iraq issued a very important report in 2012, and we are continuing its work excellently, because the Ministry of Environment is considered a mini-Ministry of Foreign Affairs, as a result of its continuous relations with relevant international organizations, the United Nations Environment Organization, international financing funds, and the Climate Secretariat.

The World Bank mission proved that the general budget of Iraq loses about 8 to 10 billion dollars annually, due to environmental damage, and this is a general cost, when there is an increase in air, water and soil pollution rates, in addition to the impact of climate changes, drought and desertification, and therefore if we invest in improving the quality of Air, or in improving water quality, means that we invest strategically in public health, and we will save ourselves the cost that we pay every day with services in hospitals, or in agriculture.

I return to an important topic that you touched on, which is climate scenarios. As you know, we signed the Paris Agreement, the House of Representatives approved and the President of the Republic ratified our accession to the Paris Agreement on Climate Change, and even Iraq submitted its voluntary plan to respond to its international obligations, which are voluntary commitments, including the Kurdistan Regional Government.

We wrote this important document, which represents the country’s supreme policy, to confront the effects of climate change from 2020 to 2030, and all government sectors at a high level, the level of deputy ministers, participated in the committee that we have the honor to chair, which developed this policy, in cooperation with the UNDP and the regional government Kurdistan, civil society organizations, and the private sector, with a focus on youth and gender, have written a very important document that took into account our special circumstances and needs, called the National Determined Contributions document.

In this document, we took into account that the commitments of all sectors should be integrated into the national and strategic plans and programs from 2020 to 2025, and we took into account an important topic, which is how we can work to reduce emissions, especially in the oil and gas sector, which is an important and fundamental topic.

From 2025 to 2030, we focused on a basic and important issue, which is technology transfer, as we suffer greatly from the outdated technological infrastructure used, especially in the irrigation and agriculture sector.

In fact, we use 90% of our water revenue in agriculture, but this 90% does not bring us food security.

When I give this precious amount of water, which amounts to more than 92%, to the agricultural sector, it is assumed that I achieve the minimum level of food security, but we have not achieved food security, and we import large sums from neighboring countries. So the real reason is that we don't use modern technologies, such as sprinklers, drip irrigation and technology.

* Methods used by the Sumerians.

Jassim Hammadi: 6 thousand years ago. We also need rational techniques in water management. We need an advanced view of water management.

* Is Iraq currently in a water deficit stage?

Jassim Hammadi: We have now passed the stage of water shortage to what is called aquatic forestry, during which the average citizen does not get his minimum daily needs of 250 liters. For more than 70 years, we have not reached this level of great shortage in our water reserves, and the deficit in Iraq will reach 10.8 billion cubic meters in 2035, meaning we will have a water deficit of about 11 billion cubic meters, and this comes as a result of the policies of upstream countries, and in At the same time, we need a rational management of our water revenues at the internal level, and the protection of water resources.

* There is the file of Iran, and the file of Turkey. Iran in previous years cut off many rivers and tributaries that flow into Iraq, but in your meetings with Iranian delegations, what are Iran's responses to what Iraq demands? I remember the government said last year that the State Department would intervene, but it hasn't explicitly done so yet. What do the Iranians say?

Jassim Hammadi: Frankly, the issue of water is a very sensitive issue, and the Iraqi government considers it one of the threats to national security, and when I say threats to national security, it is related to the lives and health of people. This country called Iraq, or what is called Mesopotamia, Mesopotamia, derives its name from the presence of the Tigris and Euphrates rivers, and this great civilization, of which we are all proud, was established only because it was established on the edge of fresh water.

In Iraq, the first human settlement was at the edge of fresh water in the city of Ur in southern Iraq. The water file is so important that the Iraqi government called for the formation of a supreme committee for water, chaired by the Prime Minister, the Commander in Chief of the Armed Forces, and comprising the ministers of environment, agriculture, water resources, security services, the armed forces and the interior, that is, the concerned ministers, because we consider the water file a file related to the national security of the country, because In the absence of sufficient water revenues, rates of land degradation and desertification will increase.

* As happened in Syria?

Jassim Hammadi: Absolutely. It is also possible, that it is one of the causes of external migration. So, dealing with this file has internal repercussions, and it can have external repercussions. In fact, the water file may be one of the most important reasons for the transmission of cross-border conflicts, conflicts between states.

Today, as you know, we have signs of a crisis regarding the Renaissance Dam between Ethiopia, Sudan and Egypt, as well as we are suffering from the water problem, and we have a high-level negotiating delegation headed by the Minister of Foreign Affairs, of which we are members, and we held rounds of talks with the Turkish side.

* The same words we heard when we were in Baghdad, and the Minister of Water Resources talked to us when he said, “Turkey is responsive to us at least, but the Iranians are not responsive.” How many rivers has Iran cut off?

Jassem Hammadi: About two months ago, there was an important visit by Iranian Vice President Ali Seljuk, who is the head of the Environmental Protection Organization in Iran. The main reason for his visit was to increase the number of dust storms, and he asked Iraq to prevent dust storms from occurring.

I spoke frankly with him as his counterpart in meetings held with the participation of the Prime Minister and the Ministers of Water Resources and Agriculture. In these meetings, Iran pledged that there will be a visit soon by the Iranian Minister of Energy, which has not taken place until this moment.

* The Kurdistan Region has strategic projects to build dams. How do you see these dams? Do the so-called “Upstream” dams, and I think scientifically the dams should be “Upstream”, pose a threat to Iraq? We often hear this, and the issue of the existence or construction of dams in the Kurdistan Region may be used politically.

Jassim Hammadi: Some people can't look at things beyond their nose. I ask you and the viewers to know that the irrigation system in Iraq is one of the best systems that were built in the time of the British, the time of the British occupation of Iraq, in addition to the successive Iraqi governments that established projects, but the spirit of these dams or the main idea of ​​establishing these dams, and the irrigation system In Iraq, it is based on the principle or concept of staving off floods.

So this system deals with an abundance of water, and it is not prepared for storage with water scarcity.

 So I believe with certainty, and I always refer to the topographical nature of the land, and at the same time the effect of climatic changes on the higher regions, the regions of the Kurdistan Region, and I mean the temperatures in them, compared to the central and southern regions, or the sedimentary plain regions that are not suitable for building dams, but rather Small dams and regulators can be installed in it, but I believe that Iraq must transform and change the concept of the national irrigation system, from a system that was designed to ward off a flood, to a storage system based on what is called water harvesting.

 I am for the Kurdistan Region to be water storage areas to achieve water security for all of Iraq. As you know, we have a problem with the Dukan Dam because of the earthquake that hit his body, and we are no longer able to store large amounts of water in it. I am frankly one of the advocates and fans, and this is the opinion of the Iraqi government, that we support all efforts to establish a water security system that achieves the minimum level of water security for Iraq.

* I studied in Iraqi schools, and I am sure that is the same for you, and we learned that Iraq is a rich country that is very cold and rains in winter, and the temperatures are high and dry in summer. This was the general geographical definition, but I think it is time to change this definition. We are not a rich country.

Jassim Hammadi: You may have heard this principle from me. I always say, that we must extract from the mind of the Iraqi citizen, the concept that we are a rich country, or I call it the theory of gossip. The government should get out of providing the service.

Today, the global economic trend is based on the need for the state to contribute to creating a capable and capable private sector, for the government to take charge of policy formulation only, and the private sector to undertake implementation, and I believe that the private sector is better able to implement.

Why did you say that Iraq is hot and dry in summer and cold and rainy in winter? Climate change has hit us a big problem, and it has changed many of these concepts. Iraq is no longer in this form at all. Rather, winter days have become very few, and rainfall rates are very few.

I am, frankly, very pleased to be in the Kurdistan Region, and to be with Rudaw, whom I love and appreciate for her sobriety. And I hope, God willing, that we will have a future vision for dealing with the issue of climate change. Climate change means the future and future generations, and I, frankly, and my team are making great efforts with the support of the Prime Minister, the President of the Kurdistan Region and the Prime Minister of the Kurdistan Region, and we have close cooperation with the Environment Agency.

I am the official in charge of the mine affairs program in Iraq, and today we had meetings with the Mine Foundation, an unprecedented coordination with the KRG. I hope that we will develop a national plan and strategy to counter the impact of climate change.

We will move towards diversifying the sources of our economy, encouraging the use of renewable energies, and emphasizing importantly that water security, meaning food security, means the national security of the country.

 Interview: Rudaw Media Network    LINK

Friday Evening Iraq Economic News Highlights 8-12-22

Friday Evening Iraq Economic News Highlights 8-12-22

Allawi Warns Against The Stage And Calls For A Parliamentary Session In The Presence Of The Heads Of The Judiciary And The Federal

Policy    2022-08-12 | 12:37   2,907 views   Today, Friday, the head of the National Coalition, Iyad Allawi, warned of the repercussions and dangers of the current stage, while calling for a parliamentary session in the presence of the President of the Supreme Judicial Council and the President of the Federal Court; To choose the President of the Republic and form a government.

Allawi said in a statement received by   Alsumaria news   He said, "We have always called for a national dialogue in which we see a solution to crises and overcoming chaos and complexity, as well as we have called since 2010 for the formation of a higher council for strategic policies and now for the formation of a council of wise men, but unfortunately the opponents did not respond to our calls."

He added, "Accordingly, it remains only to respect the timing of the constitution, which they have plotted in their hands, despite our reservations about many of its clauses, by holding a session of the House of Representatives anywhere in the country."

IraqIn the presence of the President of the Judicial Council and the President of the Federal Court to choose or install the President of the Republic and to form a government that paves the way for early elections with a fair electoral law and a fair election commission.

Allawi said, "Otherwise, the situation will worsen and deteriorate into unimaginable consequences, and I have nothing but warning and warning of the repercussions and dangers of the stage that our beloved country and our dear people are going through, who have suffered woes and been deprived of the most basic elements of a decent life."   LINK

"Including Iraq" .. OPEC: 7 Countries Increased Their Oil Supplies In July

Economie    2022-08-13 | 01:53  413 views   Alsumaria News - Economy The oil production of the 13 member states of OPEC increased by 216,000 barrels per day during the month of July, reaching 28.896 million barrels per day, supported by increased supplies from seven countries, including Iraq.

According to the monthly report of the Organization of the Petroleum Exporting Countries, which I reviewed   Alsumaria news   The largest increases came from Saudi Arabia, as its oil production rose by 158,000 barrels per day, to reach 10.714 million barrels per day, followed by the UAE, which recorded an increase of 48 thousand barrels per day, and thenKuwaitrecording an increase of 47,000 barrels per day.

He continued that "IraqIts production increased by 30 thousand barrels per day to reach 4,496 million barrels per day,” noting that “the increase in production ofIraqOil rose by 447 thousand barrels per day from the same period in 2021.”

She added that “the increase also came from Gabon, by 14 thousand barrels per day, and the rest of the increases also came from Equatorial Guinean oil by 13 thousand barrels per day andNigeriaby 6 thousand barrels per day.”

As the report indicates, the largest decrease came fromVenezuela, as shipments decreased by 49,000 barrels per day, bringing its production to 661 thousand barrels per day, followed byAngolaBy 19 thousand barrels per day, then Ian andLibyaat 11,000 barrels per day for each of them, and fromCongoby 6 thousand barrels per day, and finally fromAlgeriaby 3,000 barrels per day.   LINK

An Iraqi Delegation In Beirut To Agree On Services And Goods In Return For Providing Lebanon With Fuel

Posted On2022-08-12 By Sotaliraq   Beirut, - (AFP) - Lebanese Prime Minister Najib Mikati confirmed Thursday that Iraq will extend an agreement to supply Lebanon with heavy fuel oil (fuel) for a year in exchange for services.

Lebanon suffers from power cuts for long periods.

In July 2021, Iraq agreed to supply Lebanon with one million tons of fuel to run power plants in exchange for medical goods and services.

However, both countries suffer from severe energy crises, and power cuts are hampering the work of hospitals.

The media office of the Lebanese Prime Minister said Thursday in a statement, "The Iraqi government agreed, in its meeting today, to the request submitted by Prime Minister Najib Mikati to extend the supply of fuel to Lebanon for the necessity of Electricité du Liban for a period of one year, under the same conditions that were followed so far."

Fuel shipments are essential to Lebanon, where power cuts reach 23 hours a day, while power plants are almost non-functioning.

However, heavy fuel oil is not usable directly in Lebanese power plants, so the Lebanese authorities will continue to supply another type of fuel from other sources, and these suppliers are paid by giving them Iraqi fuel oil in return.

The value of the agreement between the two countries, when it was signed in 2021, amounted to 300 to 400 million dollars.

With oil prices soaring, Lebanese Energy Minister Walid Fayyad told AFP in late July

The value of the deal amounted to "currently $570 million, according to our recent calculations."

Fayyad added that "an Iraqi ministerial delegation will visit Beirut soon to agree on the services that Baghdad wants in exchange for fuel."

Lebanon is going through the worst crisis in its history, with a sharp rise in prices, a historical fall in the value of the national currency, an unprecedented impoverishment of the population and a serious shortage of basic materials. LINK

Electricity: A New Plan To Prevent Energy Separation In The South

Political | 09:50 - 12/08/2022   Baghdad - Mawazine News   The Ministry of Electricity announced today, Friday, the development of a new plan to prevent power disconnection in the southern governorates, while confirming the stability of the electric current in Basra.

The Director of Relations and Information of the General Company for the Distribution of South Electricity, Amin Mohieddin Muhanna, said that "the electricity system in Basra Governorate is currently stable after it witnessed a cut in all regions of the province in the past few days," noting that "the supply of electricity in the province continues normally."

Muhanna attributed "the previous cut in the current in the province to the high temperature, which reached 55 degrees Celsius, according to him, and the high humidity in the air, as well as the large number of loads, and the lack of rationalization by citizens."

He added, "These matters directly affected the electricity situation in Basra, which led to power cuts for hours last week."

He added, "The General Company for Southern Electricity Distribution has developed an alternative plan to prevent the repetition of the previous cut and the separation of obstetric units in the south, and to avoid any emergency that could affect the electricity supply, especially since Basra suffers continuously from climatic fluctuations such as high temperature and humidity in the air, which It has a direct impact on the situation of the electric current in terms of its stability and continuity."

He pointed out that "the plans developed focused on following up the work of the obstetric units of the electrical system in the province, especially since Basra's production of electrical energy is now good, and meets the needs of the province."

He pointed out that "there are generating stations for the electrical system in the southern governorates that will enter work to prevent any emergency that may lead to a complete power outage in the coming days." Ended 29 / h    https://www.mawazin.net/Details.aspx?jimare=202255

Friday Evening Iraq Parliament News Highlights 8-12-22

Friday Evening Iraq Parliament News Highlights 8-12-22

Constitutional Controversy Over Parliament After Al-Sadr's Call[

Sumerian special   2022-08-12 | 06:00   Source:   Sumerian   2,751 views   The call of the leader of the Sadrist movement, Muqtada al-Sadr, to the Supreme Judiciary, to dissolve Parliament, opened the door to several scenarios for the Iraqi scene after nearly nine months of political stagnation, and kept the options for his rivals limited in the coordinating framework.

The most prominent of these scenarios are the exclusion of framework figures from the political scene, the withdrawal of the Sudanese nomination from the race to form a government, and the renewal of Al-Kazemi’s government until new early elections are held, options that are very compatible with Al-Sadr’s ambition, but they are more like concessions from the framework to Al-Sadr, according to observers.

Legally, the parliament itself is dissolved in accordance with Article 64 of the Constitution, which states that this parliament is dissolved by an absolute majority of its members, i.e. half of the total number plus one.

As for the second method of dissolving the Council, it was excluded because the current government was to conduct business and was not formed by this parliament, that is, the presidents of the republic and the ministers are not entitled to submit the joint application according to the decision of the Federal Court

. Parliament has lost legitimacy, which prompted it to demand the judiciary to issue a decision dissolving the House of Representatives without referring to what was mentioned in Article 61 of the Constitution, according to what some legal experts said.   LINK

The Coordination Framework Thanks Its Protesters: We Promise You Serious And Continuous Work To Achieve Your Demands

Political | 09:36 - 12/08/2022    Baghdad - Mawazine News   presented the coordination framework, thanks to his supporters who demonstrated near the suspension bridge and in Basra and Nineveh.

The framework stated in a statement received by Mawazine News, a copy of it, that it "is extending its deep thanks and great gratitude to the Iraqi masses, with their different categories and diverse social segments, as they demonstrate in Baghdad, the capital of the state and the center of the steadfast national project in the face of attempts to abolish, and in Basra Al-Fayhaa, Iraq's material and moral reservoir and its economic capital.

And in Nineveh, Umm al-Rabeein and the Bride of Liberation, expressing the unity of her position and the legality of her demands in defending the state and its constitutional institutions, especially the judiciary and the legislative authority.

The coordination framework expressed "its solidarity with the will of the demonstrators, which affirmed the demands of the national majority for a free and dignified life and the establishment of a government of national service that provides a decent life for all the Iraqi people."

He added: "We pledge to the Iraqi masses to work hard and continuously in order to achieve their demands, and we will not deviate from these major national goals as long as they are linked to the hopes, aspirations and ambitions of this people in equality and social justice, and most importantly, this country is managed only through dialogue and understanding among all its sons, and no party can He confiscates the will of everyone under any pretext or pretext.

He continued: "Thank you for your patience, commitment, great effort and active presence, in which you registered and record that Iraq is a country of civilization, values, diversity and national unity. Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=202253

Khazali To The Coordination Framework Demonstrators: Today You Brought Joy To The Hearts Of Iraqis

Political | 07:54 - 12/08/2022  Baghdad - Mawazine News, the Secretary-General of the Asa'ib Ahl al-Haq movement, Qais al-Khazali, sent a message to the demonstrators of the coordination framework, stressing that they have proven that they are the conscious, consistent public.

Al-Khazali said in an audio recording directed to the demonstrators of the coordination framework: "Today you brought joy to the hearts of Iraqis and the martyr Abu Mahdi Al-Muhandis."

He added, "The martyr al-Muhandis is all happy when he sees his sons defending Iraq and the interests of the people and the state with courage and awareness."

Khazali continued: "Today, you have proven that you are the conscious, consistent public who sent that message to everyone," but added: "We pledge to you to continue the path of building and defending the state and speeding up the formation of the government to provide services."

He stressed the need to "accelerate the convening of the House of Representatives to carry out its duties, the most important of which is addressing the issue of the budget."

https://www.mawazin.net/Details.aspx?jimare=202240

The Coordinating Framework Demands Al-Halbousi To End The Suspension Of Parliament Sessions And Decides The Sit-In

Posted On2022-08-12 By Sotaliraq  The coordinating framework called on the Speaker of the Iraqi Council of Representatives, Muhammad al-Halbousi, to end the suspension of parliament sessions, deciding the sit-in.

The demonstrations (the people protect the state) issued their final statement on Friday (August 12, 2022), in which they decided to announce the open sit-in, calling for “the speedy formation of a national service government with full powers in accordance with the constitutional contexts.”

He called on the framework demonstrations, "the political forces, especially the Kurdish ones, to expedite the decision of the candidate for the presidency, assign the candidate of the largest bloc to the prime minister, and end everything that hinders the speedy resolution of the issue," adding, "We demand the Speaker of the House of Representatives to end the suspension of work, and to act effectively to vacate the Council and activate its work." Legislative and Oversight.

Below is the text of the final statement of the demonstrations (The People Protect the State):

With God’s blessing, large crowds gathered in this national demonstration, which we announce its conclusion by declaring an open sit-in in order to achieve our just demands, which are:

1- Speeding up the formation of a national service government with full powers in accordance with constitutional contexts; To restore the prestige of the state and address the problems of the Iraqi citizen.

2- We demand the political forces, especially the Kurdish ones, to expedite the resolution of the presidential candidate, assign the candidate of the largest bloc to the premiership, and end everything that hinders the speedy resolution of the issue.

3- We declare our full support for the Iraqi judiciary and its institutions, and we reject any abuse or abuse of it, as it is the main pillar upon which the Iraqi state is based.

4- We demand the Speaker of the House of Representatives to end the suspension of work, and to act effectively in order to vacate the Council and activate its legislative and oversight work, as it is elected by the people, and the people have disabled rights, and they expect their representatives to fully perform their duties.

5- We demand our heroic security forces to protect state institutions, preserve their prestige, and enable them to perform their work without any obstacles, because they were created to serve the citizen, and no one can be allowed to prevent and close them for any reason.

6- We demand the political forces to pay attention to the people, and we call for adherence to the law and the constitution to face the challenges of the high cost of living, corruption of the ration card, and water scarcity.

7- We warn everyone that the country without a government with full powers has reached a difficult stage, and the masses are suffering the most from this tragic situation, so leave your personal, partisan and factional interests, and resort to the constitution and the law.

8-Through our demonstrations and the sit-in that we have announced now, we declare our full commitment and obedience to all that is issued by the supreme religious authority.

God is the one who helps things.

In conclusion, we renew our thanks, appreciation and respect to everyone who took the trouble to attend and stood with us in this great honorable national stand in Baghdad, Nineveh and Basra.   LINK

Allawi Proposes A Solution That "Will Anger Al-Sadr": Hold A Parliament Session Anywhere In Iraq

Shafaq News / The head of the National Coalition, Iyad Allawi, called today, Friday, to hold a parliamentary session "anywhere in Iraq" to choose a president and form a new government that would pave the way for early elections, while warning of "the deterioration of the situation and the danger" of the current stage.

The head of the National Coalition, Iyad Allawi, said in a statement received by Shafak News Agency, "We have always called for a national dialogue in which we see a solution to crises and overcoming chaos and complexity, as well as our demand, since 2010, to form a higher council for strategic policies and now to form a council of wise men, but unfortunately the opponents did not respond to our calls." .

Iyad Allawi added, "There is nothing left but to respect the timings of the constitution, which they have erred in their hands, despite our reservations about many of its paragraphs, by holding a session of the House of Representatives anywhere in Iraq in the presence of the President of the Judicial Council and the President of the Federal Court to choose or install the President of the Republic and to form a government that paves the way for a procedure Early elections with a fair electoral law and a fair election commission.

Allawi continued, "Otherwise, the situation will worsen and deteriorate into unimaginable consequences, and I have nothing but warning and warning of the repercussions and dangers of the stage that our beloved country and our dear people are going through, who have suffered woes and been deprived of the most basic elements of a decent life.

Iraq lives on the impact of an escalating crisis between the Sadrist movement on the one hand, and the coordinating framework on the other hand regarding the formation of the new government and calls for early elections, in light of the vision and orientation of each of them to the form of the government and how to manage the next stage, and while the Sadrists sit in the parliament building, the supporters of the framework began today Coordinating new sit-in in front of the Green Zone.  LINK

The Coordination Framework For Its Supporters: You Are The National Majority And No Party Can Confiscate The Will Of Everyone

Shafaq News / The coordinating framework announced, today, Friday, that it stands by the demands of the demonstrators from its supporters, which include the demands of the "national majority." ".

In a statement received by Shafaq News Agency, the coordinating framework said that it "is extending its deep thanks and great gratitude to the Iraqi masses, with their different groups and various social segments, as they demonstrate in Baghdad, the capital of the state and the center of the steadfast national project in the face of attempts to abolish, and in Basra, Al-Fayhaa, Iraq's material and moral reservoir and its economic capital, and in Nineveh. The mother of the two springs and the bride of liberation expresses the unity of her position and the legality of her demands in defending the state and its constitutional institutions, especially the judiciary and the legislative authority.

The coordination framework expressed "its solidarity with the will of the demonstrators, which affirmed the demands of the national majority for a free and dignified life and the establishment of a government of national service that provides a decent life for all the Iraqi people."

The coordination framework continued, "We pledge to the Iraqi masses to work hard and continuously in order to achieve their demands, and we will not deviate from these major national goals as long as they are linked to the hopes, aspirations and aspirations of this people in equality and social justice."

And the coordinating framework indicated that "most importantly, this country is managed only through dialogue and understanding between all its people, and no party can confiscate the will of everyone under any pretext or pretext. ".

The coordinating framework also offered "thanks and appreciation to the organizing committee, its subcommittees and the media, which all cooperated in order to show the beautiful picture of the demonstrations," noting that "we will always be with you in all arenas and situations."

The head of the State of Law coalition, Nuri al-Maliki, said, on Friday, that the street cannot be acquired by one party over the other, but rather it is an arena in response to every constitutional position.

Baghdad and Iraqi governorates witnessed the launch of demonstrations by the Sadrist movement in the Green Zone, in central Baghdad, and the rest of the Iraqi governorates, which were met by demonstrations of the coordination framework in the governorates of Basra and Nineveh, as well as at the Green Zone gate from the side of the suspension bridge, which ended with an open sit-in as well.    LINK

Al-Maliki After The Tire Demonstrations: The Street Cannot Be Taken Over By One Side Without The Other

Politics Nouri al-Maliki demonstrations Shiite coordination framework

2022-08-12 14:21  Shafaq News/ Head of the State of Law Coalition, Nuri al-Maliki, said on Friday that the street cannot be taken over by one party without another, but rather it is an arena in response to every constitutional position.

In a statement received by Shafaq News Agency, he added, "The massive demonstration called for by the coordination framework, expressed a great public interaction for the framework's positions, and sent a clear message that the Iraqi masses, with all their orientations, interacted with the defense of the state's legitimacy, and the protection of the legislative and judicial constitutional institutions."

He explained that "the peaceful and effective demonstrations sent another message to all political components: come to a common word to cross the feared crisis on the constitutional political track, and to avoid disrupting the formation of the new government, disrupting the elected parliament that was formed in accordance with the law and the constitution, and obstructing the convening of its sessions, in At a time when Iraqis are looking for a service government that will advance the needs and needs of the people, and relieve them of suffering and poverty."

He pointed out that "the demonstrations made it clear, without a doubt, that the street cannot be controlled by one party over the other, but rather it is an arena for interaction and in response to everything that is constitutional and legitimate, and that the Iraqis who made the election wedding - with similar failures - demonstrated today, and they want to They see state institutions working and active, providing services, care and reconstruction, and they do not want to see them broken without a legitimate, national or constitutional right.”

This comes after the Sadrist movement launched demonstrations in the Green Zone and the rest of the Iraqi provinces, as well as demonstrations for the coordination framework at the Green Zone gate from the side of the suspension bridge and the governorates of Basra and Nineveh today, Friday.   LINK

https://shafaq.com/ar/%D8%B3%DB%8C%D8%A7%D8%B3%D8%A9/%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%83%D9%8A-%D8%A8%D8%B9%D8%AF-%D8%AA%D8%B8%D8%A7%D9%87%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84-%D8%B7%D8%A7%D8%B1-%D8%A7%D9%84%D8%B4%D8%A7%D8%B1%D8%B9-%D9%84%D8%A7-%D9%8A%D9%85%D9%83%D9%86-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AD%D9%88%D8%A7%D8%B0-%D8%B9%D9%84%D9%8A%D9%87-%D9%84%D8%AC%D9%87%D8%A9-%D8%AF%D9%88%D9%86-%D8%AE%D8%B1%D9%89

Some News From Vietnam Posted by Samson 8-12-2022

KTFA:

Samson:  Creating a legal corridor for blockchain development in Việt Nam

8th August, 2022

In the face of the explosive wave of global technology, with increasingly favourable policies and rising interest of businesses, the Vietnamese blockchain market is forecast to continue to develop positively.

The Foreign Affairs Committee of the National Assembly in collaboration with the Việt Nam Blockchain Association held a seminar on international experience in blockchain technology development and recommendations for Việt Nam last week.

The conference aims to learn and enhance experience, standardise solutions for the development and application of blockchain technology, towards perfecting the legal system, and building institutions and policies to create a legal corridor for technology-related activities.

Phan Đức Trung, permanent vice president of Việt Nam Blockchain Association, said: "Blockchain technology is a kind of database, information is stored in blocks and linked together."

Blockchain could be likened to a ledger that records all data in the system. Blockchain differs from conventional data in the data storage structure. Blockchain collects data information and groups them into blocks containing a lot of information. Blockchain is being applied in 65 fields such as banking, securities and funds, insurance, state management, and infrastructure.

In the opening speech of the seminar, deputy chairman of the Foreign Affairs Committee of the National Assembly Nguyễn Mạnh Tiến emphasised that blockchain technology was increasingly attracting the attention of socio-economic and political sectors around the world as this technology had revolutionised traditional commerce due to the ledger feature. "Every record in this ledger is secured by cryptographic rules that keep the information safe and not able to be faked," he added.

The application of blockchain technology created many benefits in increasing the efficiency of work processes, storing data, managing the supply of goods, reducing errors in the document flow and duration, and reducing logistics time, said Tiến. The deputy chairman also noted that the blockchain "big playground" needed direction and guidance.

With the goal that Việt Nam will not be "left behind" in the technological development of many countries, the Document of the 13th Party Congress for the first time emphasised digital transformation and digital economic development, which emphasises the need to "develop the digital economy on the basis of science and technology and innovation".

The document, at the same time, set requirements for growth innovation, economic restructuring, and making good use of opportunities of the Fourth Industrial Revolution, towards the goal "the digital economy will contribute about 20 per cent of GDP by 2025, about 30 per cent of GDP by 2030".

In order to carry out the above task, Tién said that in addition to the efforts of the Government and related agencies and organisations, it was necessary to have companionship and experience sharing from countries in the digitisation process as well as businesses in building and perfecting a system of legal documents related to this field, and monitor for the Government's implementation of the budget and international commitments, resolutions, documents and other legislation of the National Assembly on policies to develop the digital economy. LINK

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Samson:  Việt Nam's economic growth forecast at 7.5 per cent in 2022: World Bank

8th August, 2022

Việt Nam’s GDP growth is forecast to surge from an estimated 2.6 per cent in 2021 to 7.5 per cent in 2022, with resilient manufacturing and a robust rebound in services serving as the driving forces for economic recovery. 

According to the latest economic update by World Bank (WB) for Việt Nam, the country’s economy expanded 5.2 per cent in Q4 of 2021, and respectively 5.1 per cent and 7.7 per cent in Q1 and Q2 of 2022. 

Inflation is projected to average 3.8 per cent over the year. 

Carolyn Turk, WB Country Director for Việt Nam, said that the bi-annual report “lays out a set of policy recommendations that could help mitigate the impact of these risks and make the economy more resilient going forward.”

Titled “Taking Stock: Educate to Grow”, this edition underlines transforming the higher education system as the key to boosting the country’s productivity and achieving its development goals, in the context where the country re-emerges from the pandemic and into a challenging global environment.

The report’s co-author Dorsati Madani said that while Việt Nam’s economic recovery had been relatively stable, not all sectors witnessed the same situation. 

The impact on workers and households during the crisis was serious and lasting, with about 45 per cent claiming lower incomes in December 2021 than the previous year. The impact of the pandemic is still present with businesses reporting broad-based labour shortages as of March 2022, which were felt more acutely in services and manufacturing, and in the HCM City area.

This, in addition to growth slowdown or stagflation in main export markets, further commodity price shocks, continued disruption of global supply chains, or the emergence of new COVID-19 variants, are hindering Việt Nam’s full recovery. 

Statistics revealed that Việt Nam’s population has an average 10.2 years of schooling, second only to Singapore among the Association of Southeast Asian Nations (ASEAN) countries.

Việt Nam’s human capital index is 0.69 out of a maximum of 1, the highest among lower middle-income economies. However, low skills relevance of the university graduates put the country in the bottom third of the 140 countries listed in the 2018 Competitiveness Index on skills relevance of university graduates. 

A World Bank skills and enterprise survey published in 2019 also said that 73 per cent of sampled Vietnamese firms report difficulties in recruiting employees with leadership and managerial skills, 54 per cent with socio-emotional skills, and 68 per cent with job-specific technical skills.

Focusing on tertiary and higher education, the WB’s report recommends reforming the education system to improve quality and access, and thus provide the necessary skills to the population. Reforms to Việt Nam’s higher education system could help support development objectives, the report says. 

The increasing financial costs of pursuing higher education and the perception of diminishing economic returns from pursuing higher education have weakened demand.  While efforts to enhance the business environment are crucial to enabling job creation, policymakers should also take steps to reduce skill-mismatches and improve the quality of Việt Nam’s labour force. 

Turk said: “To sustain economic growth at the desired rate, Việt Nam needs to increase productivity by 2-3 per cent every year. “International experiences have shown that higher worker productivity can be achieved by investing in the education system, as an important part of a basket of investments and reforms. A competitive workforce will generate much-needed efficiency for Việt Nam in the long term.” 

LINK

Vietnam : Stock market to benefit from unexpectedly strong domestic growth: VinaCapital

8th August, 2022

“Việt Nam’s economy is even stronger than we had expected at the beginning of the year, but that strength is not reflected by higher stock prices due to the [US’s] aggressive rate hikes and the recent regulatory crackdown in Việt Nam,” Michael Kokalari, chief economist at VinaCapital, has said in a report. 

“That said, we expect over 20 per cent [company earnings] growth in 2022, which should support a recovery in the VN-Index by the end of 2022.”

July economic statistics have not only reinforced VinaCapital’s forecast of 7.5 per cent GDP growth in 2022 but also make it look like the economy would grow by a stunning 10 per cent year-on-year in the current quarter, he said.  “Our expectation that Việt Nam’s economy will grow by at least 7.5 per cent this year (and by at least 10 per cent in Q3) leads us to believe that the consensus forecast for 16 per cent [company] earnings growth this year in Việt Nam is too conservative. 

“We expect earnings growth to exceed 20 per cent this year, supported by Việt Nam’s solid economic performance – in stark contrast to the US stock market, where earnings growth expectations look unrealistically high, especially given that country’s deteriorating economic outlook.” 

Việt Nam’s retail sales have accelerated all year, illustrating that consumption is currently the main growth driver, he said.  In the first half of the year retail sales adjusted for inflation grew by 7.9 per cent, and surged to 11.9 per cent in the first seven months, far above the 7 per cent growth his company had previously forecast, he said. “This is important because we are often asked now whether the ongoing slowdown in the US economy, Việt Nam’s biggest export market, will weigh on Việt Nam’s economic growth.”

A slowing US economy is likely to temper Việt Nam’s export growth and economic growth, but that would be more than offset by Việt Nam’s strong domestic economy, he said. “The revenues and earnings of companies listed on Việt Nam’s stock market are primarily driven by the domestic economy, which is why we would have expected the stock market to benefit from the unexpectedly strong domestic growth.”

The stock market rose 37 per cent in 2021, driven by a 36 per cent rise in earnings. “All of this makes it somewhat surprising that the VN-Index is currently down 17 per cent year-to-date.”

The main reason for the recent dour sentiment among retail investors is the Government’s regulatory crackdown on illegal practices by certain companies that started at the end of March, he said. “But we believe the Government’s efforts to improve corporate governance and transparency in Việt Nam will ultimately benefit the stock market and the country as a whole.”

The issue has had less impact on the stock market in recent weeks, and Việt Nam already has the highest transparency and political stability ranking in Southeast Asia, according to a report from the Political & Economic Risk Consultancy, he said.

Coming Bounce in the VN-Index

VinaCapital expects another leg down in the US stock market, which could in turn drag Việt Nam’s stock market lower. 

Kokalari said: “However, at some point we expect the Fed to ‘pivot’ away from its aggressive rate hike plans. Việt Nam’s stock market should be one of the biggest beneficiaries of a Fed pivot because Việt Nam has the most attractive valuation in the region, and the second highest expected earnings growth next to Indonesia.

“Furthermore, the quality/visibility of Việt Nam’s corporate earnings is currently much better than that of Indonesia and other regional peers.” He also expects bank share prices to outperform in the second half of the year, as it becomes apparent that banks’ post-COVID asset quality issues are much less severe than many investors had feared, especially in light of Việt Nam’s very high GDP growth in 2022.   LINK

KTFA Members "News and Views" Friday PM 8-12-2022

KTFA:

Samson:  Iraq's budget... a tossing ball and scattered accounts

08/12/2022 12:26:01

A government without a financial budget has become not a strange thing in the Iraqi state in recent years, despite the severe economic and development damage to the country as a result.

The budget specifies the items of state expenditures during a year, especially for salaries, subsidies, and the payment of debt burdens, as well as the target of state revenues.

Despite the government’s success in obtaining about $ 18 billion within the Emergency Security Law for Food Security and Development approved by Parliament on June 8 to secure energy imports, finance important service projects, and fund the Social Welfare Fund, officials confirm the country’s continued need for the draft budget. Earlier, at nearly $90 billion.

Above all, the final accounts of the previous budgets have not been resolved, although they must be submitted after the end of each fiscal year and before the approval of the new budget.
 
In this regard, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarifies about the presentation of the final accounts of the current government, indicating that there are two main factors that have contributed to the failure to approve the final accounts on a regular basis 10 years ago. 

 Saleh said on June 30 that "the current government's presentation of the final accounts requires the submission of final accounts extending from the year 2015-2020, taking into account that the year 2020 there is no general budget, which requires the submission of a draft law called the current budget, which is a legal expression of a final account and budget in At the same time, the revenues and expenditures are now realized.

Saleh said that "the oversight task of the House of Representatives in this regard will be a little arduous in following up the completion of the country's final accounts for the years 2013-2021, but it will certainly be fruitful after passing the final account for the fiscal year 2013 and enacting a budget law for the current situation for the year 2014 so that the government can refer the rest of the government accounts sequentially only previous years".
 
And the Federal Supreme Court - its decisions are binding on all authorities - stripped Al-Kazemi’s government of all powers, as it is a caretaker government with limited powers, and it is not entitled to propose important bills with the invalidation of all appointment orders of higher grades issued during the period of the conduct of business.

 In his speech at the cabinet meeting yesterday, Al-Kazemi held the political situation responsible for the delay in the budget, and said: “We are now in the eighth month of 2022, and there is no budget, and the imbalance is not in the government, but because of the existing political situation, so how do we build schools, pave roads and build projects with Absence of political consensus on forming a government or finding a solution to the political impasse.

 He promised, "The issue of the budget is a very serious matter, and we have good financial abundance and we need to invest it in rebuilding infrastructure and achieving the demands of our people."

With regard to the federal budget for the fiscal year 2023, the financial advisor to the Prime Minister, Haitham al-Jubouri, ruled out its approval, saying to Al-Furat on July 25: “It can only be approved by the presence of a new government and not necessarily adopting the same approach as the current government, it may take austerity for the sake of the article; but if the government remains we will proceed with laying down the doors of the law." 

MP Ahmed Hama Rashid agrees with Al-Jubouri regarding the impossibility of approving the budget, saying, “The current government is unable to approve the country’s budget for this year, because it does not have the powers to legislate laws as approved by the Federal Court,” describing Al-Kazemi’s talk about the necessity of approving the budget.

"Scattered ashes in the eyes, nothing more." While the economic expert, Ali Al-Fraiji, considered that the political crisis over the formation of the next government has plunged Iraq into "a new chaos over how to invest the state's revenues and capabilities." Al- Fraiji pointed out that "it is difficult to approve the budget for this year in light of the political turmoil that Iraq is witnessing," noting that Iraq is entering economic chaos today, adding to the negative accumulations of previous years.

State matters, including the salaries of employees and retirees, stated that a member of the Parliamentary Finance Committee, Jamal Cougar, said: “Compensation for the affected economic sectors needs a financial cover, and we have two legal covers to provide the allocated amounts. ”Presenting alternative laws by the government if they are in full force.

He added, "As for the presence of a caretaker government, they should cooperate with each other to present financial laws as a proposed law from Parliament," stressing "the need for coordination between the government and parliament to cover and expand any sector that institutions need."

And the economists' warnings escalated that the country would remain without a financial budget, and not address the effects of that, especially since its approval needs a few more months, in the event that the political crisis in Iraq is overcome.

Here, the expert in economic affairs, Abdul Hassan Al-Shammari, says that "this delay will hit the investment sector, and will contribute to the spread of unemployment among young people, and will even raise poverty indicators to higher levels." Al-Shammari believes that "addressing the effects of this will be difficult, and not as easy as some officials are talking about, so the political blocs should be aware of the danger of the current stage, and avoid taking risks."

Financial budgets represent the main tool for achieving the state's general policies, whether economic, social, or service, and serve as a presentation of the government's annual plans and programs, which it prepares in response to current challenges.

Budgets give governments the best planning to achieve the maximum revenue, and to reorganize their distribution according to spending priorities in order to serve the community. Most importantly, the budget is a tool that reflects the power and symbolism of the state through spending spending on all departments and institutions according to spending plans that are developed in a manner consistent with Citizen priorities, which means economic aspects will be disrupted if they are not approved.

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BlaqueBeauty:  "From trillions to billions"    

Tivon:   If it's 18 billion sitting there. They are waiting for one thing to actualize those funds. They can't even present a general budget until they have the final accounts.

Which means the EFSL will have to come into play given that no funding for departments, projects, or investments can be made available until the CBI reinstate the IQD. Remember I kept saying the surplus in oil, or the gold reserve and hard currency can currently support a rate change.

Now you know from this article it has to be done prior and not after a budget is open.

What solution they have at the moment? Dissolution & Interim Gov. This is How I personally see it. Because it requires a defacto government in the least. Which Al-Kazemi will present as an interim (Emergency GOI) because they can't form a GOI until elections are done anyway.

So you can sense the urgency. Thank you all for the support. IMO

Wagmister:   August 15 is looming.  

Tivon:  Right. All banks by or on that date will be ready to interlink digitally through BUNA Which is why I think the workshop is being done. Post 56. The reinstatement can be made efficiently and instantly. Especially when you read an article last month with Iran ready to go. I'm excited about the 15th and every hour after that day. Al-Sadr knows something as I'm sure Mustafa, Kazemi, and Sadr all know the playbook. What else could he reward them with after dissolution? Imo

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Samson: "Al-Firdaws" demonstrators announce their final statement and stress the need to dissolve the "incompetent" parliament and hold early elections

12th August, 2022

Civilian demonstrators in Al-Firdaws Square in central Baghdad stressed, on Friday, the necessity of dissolving the House of Representatives, which they described as "incapable", and holding early elections on its terms and conditions.

This came in a final statement signed by 10 parties (the Iraqi Communist Party, the Social Democratic Current Party, the Iraqi Nation Party, the National Civil Movement, the Nazl Movement to Take My Right to Democracy, the Faili Front, the Iraqi House Movement, the Democratic Current, the Consultative Council of Tishreen Movements, the National Forces and the Tishreen Democratic Movement).

The statement, which was received by Shafak News Agency, stated, "For more than a decade, the people and their civil and national forces have been emphasizing that this entire system is in dire need of real reforms, but none of the power parties and its politicians responded. The sectarian and racist laws and alignment will lead to the collapse of the country at the general levels and will generate exacerbated conflicts between the political forces, which in turn will negatively affect the life of the citizen. All the dominant forces in power bear the responsibility for what happened.”

He added, "Today, in the face of a deep crisis in the quota system and corruption, represented by the state of political impossibility, we affirm that change has become a national necessity, from which there is no retreat... and that not responding to the people's call for change, the political cost will be exorbitant for those who reject it, and for to achieve change in response to the aspirations of our people for a dignified, independent and prosperous life, and to preserve civil peace, must be based on the principles of peace, democracy and citizenship..and consecrate the unifying national identity, and preserve rights..freedoms..and achieve social justice.

The statement clarified that "the civil and democratic forces, as they continue their peaceful struggle, believe that the will of the people is the decisive factor in the conflict, which we will not engage in except from a national standpoint keen on the future of Iraqis... a struggle for salvation from quotas and its failed forces... a struggle against the killers of the demonstrators..a struggle against the corrupt, regardless of their affiliation..a struggle for the confinement of arms in the hands of the state..a struggle for the state of citizenship, rights, and just law.

The statement continued, "We reiterate once again the necessity of dissolving the impotent Parliament, and holding free and fair elections within one year, on its terms and conditions (a fair electoral law, an independent commission, the application of the parties' law) ... elections that reflect the true representation of the will of Iraqis. Any return to the failed approach to governance.. the Iraqis who have been engulfed in the fire of crises.. have the final say and it is up to them to decide.

Dozens of civil parties and currents demonstrated earlier on Friday, in the center of the capital, Baghdad, to demand the dissolution of the Iraqi parliament. The demonstrators raised banners calling for the dissolution of Parliament and the end of quotas.

This comes in conjunction with demonstrations by the Sadrist movement in the Green Zone and the rest of the Iraqi provinces, as well as demonstrations by the coordination framework at the Green Zone gate from the side of the suspension bridge and the governorates of Basra and Nineveh.  LINK

Friday AM Iraq Economic News Highlights 8-12-22

Friday AM Iraq Economic News Highlights 8-12-22

Oil Prices Cross $100  

Economie   2022-08-12 | 06:36   765 views   Oil prices rose, in trading on Friday afternoon, above the level of $100 a barrel, after the black gold prices were in the red in the morning.

By 12:43 Moscow time, US crude futures were traded at the level of $94.59 a barrel, an increase of 0.26% from the previous closing price.

Meanwhile, Brent crude futures were traded at $100.14 a barrel, an increase of 0.54% over the previous settlement price, according to Bloomberg website data.

Black gold prices are heading towards recording the largest weekly gains in nearly 4 months.  LINK

The Stability Of The Dollar Exchange Rate Against The Dinar

Economie| 10:33 - 12/08/2022   Baghdad - Mawazine News  The dollar exchange rates on Friday witnessed stability on the Iraqi Stock Exchange.  Selling price: 148,500 dinars per 100 dollars,   purchase price: 148,400 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=202169

Dollar Exchange Rates In Iraq

Economie   2022-08-12 | 03:32  2,762 views   Alsumaria News – Economy   The dollar exchange rates witnessed stability today, Friday, on the Iraqi Stock Exchange.

The selling prices of the dollar were 148,500 dinars per 100 dollars, while the purchase prices of the dollar were 148,400 dinars per 100 dollars.   LINK

Gold Prices Fall As The Dollar Rises

Economie   2022-08-12 | 05:58  867 views   Gold prices fell, in trading today, Friday, and this came after the growth recorded in the past days, and the rise in the dollar also contributed to the decline in the prices of the precious metal.

By 10:44 Moscow time, NYSE Comex gold futures fell 0.18% to $1,803.90 an ounce.

Silver futures also fell 0.13% to $20.323 an ounce, according to trading data.

In the currency market, the dollar grew against a basket of major currencies, as dealers in the markets expect more measures before  Federal Reserve System US (Central Bank) to curb inflation.

And at 10:35 a.m Moscow The euro exchange rate fell to 1.0324 dollars, while the European currency closed yesterday's trading at 1.0305.

The exchange rate of the US currency against the Japanese yen also rose to 133.36 yen, while the exchange rate when it settled yesterday at 132.87 yen.   LINK

OPEC" Reveals Its Forecast For The Growth Rate Of Global Oil Demand

Economie      2022-08-11 | 09:18   Source:   Agencies   897 views   Regarding the next year 2023, the report stated: "The forecast for 2023 remained the same as in the previous report, 2.7 million barrels per day. This means that global demand for oil in 2023 will be 102.72 million barrels per day."   LINK

Iraq Loses 1,000 Flights Per Day In The World Cup In Qatar Due To The Failure Of The Ministry Of Transport

Shafaq News/ A source in the Ministry of Transport revealed, on Friday, that Iraq lost 1,000 flights that were scheduled to pass through its airspace with the launch of the 2022 World Cup in Qatar due to the ministry's failure to manage the air navigation file.

The source told Shafaq News Agency, "At a time when the neighboring countries of Iraq are working to provide air navigation services in their airspace with the highest international standards and are cooperating and constantly seeking to attract airlines to use their airspace, as Saudi Arabia did in reducing transit fees for its airspace on the occasion of the 2022 World Cup that will be held In Qatar next October, at this time, we find the General Company for Air Navigation Services moving against the higher interests of Iraq.”

He added, "After the Air Navigation Company missed the opportunity to increase the air flow in our airspace during (Dubai Expo), the Air Navigation Company has been marketing lies to polish the image of the false air flow, which was expected to reach 1800 aircraft in Iraq per day during the upcoming World Cup events, while The mismanagement of the company and the Ministry of Transport reduced the number of planes in transit at the height of the World Cup so that it does not exceed 800 planes only, considering that "this represents the real failure of the Ministry of Transport in managing the air navigation file."

The source explained that "the Air Navigation Company has announced that it is holding meetings with the International Federation of Air Carriers (IATA) in order to increase the air flow, and this company does not know that the air flow has been resolved, and that the airlines know exactly the number of flights required to meet the demand." .

According to the source, "these companies developed their plans through a quick response from the neighboring countries of Iraq," noting that "Iraq's airspace will not get more than 800 flights per day at best, and thus Iraq lost more than 1,000 aircraft per day due to the mismanagement of the Ministry of Transport for this." file and not allow international expertise to help Iraq.   LINK

Al-Ghazi: The Differences Will Be Paid Retroactively For The Past Months

Posted On2022-08-11 By Sotaliraq  Launching the assignments of lecturers and administrators in the governorates  Nasiriyah - Bassem Al-Rakabi

The Governor of Dhi Qar, Muhammad Hadi Al-Ghazi, confirmed that the differences due to contract holders of lecturers and administrators after the Ministry of Finance launched the necessary allocations, will be calculated from the beginning of this year.

Al-Ghazi said in a statement yesterday that (the ministry agreed to include the rights of the lecturers after completing the audit of their lists), and added that (the ministry worked to meet all the lecturers’ demands and that their salaries are fully insured), and added that (the financial differences for the lecturers start from last January). until next December).

Earlier, the ministry released financial amounts for lecturers and administrators, labor contributions and social security for the governorates.

A statement by the ministry stated yesterday that (the ministry has begun implementing the Diwaniyah Order Committee, which includes the release of financial amounts for lecturers and administrators and labor and social security contributions for the governorates, who are covered by the Emergency Support Law for Food Security), and the statement called on the spending units in the governorates to (review their authorized persons to receive books for the differences in lecturers’ wages, with the exception of my governorates).

Wasit and Muthanna), and added that (work is underway to audit the lists so that the budget department can take the necessary action), pointing out that (the sums are secured for the wages of all free lecturers without exception).

In a related development, the head of the Governorate Investment Authority, Ali Al-Dakhili, announced a package of reforms and administrative measures to improve the reality of the commission, which will take on the bulk of changing the face of the governorate and its service reality.   LINK

Iraq Achieves Self-Sufficiency For 15 Agricultural Items

Baghdad / Obelisk: Today, Friday, the Ministry of Agriculture announced the achievement of self-sufficiency for 15 crops, while indicating that it is close to achieving self-sufficiency for animal products.

A spokesman for the Minister of Agriculture, Hadi Al-Yasiri, said, in a press statement, that achieving self-sufficiency in the domestic product for agricultural products is accompanied by requirements and requirements that must be met, indicating that among these requirements are the financial abundance and the annual financial allocation that falls within the allocations to support farmers to provide vaccines, veterinary medicines and pesticides. .

He added that among the requirements is also the provision of sound inputs for agricultural production, foremost of which is the abundance of water necessary for the implementation of agricultural plans and the cultivation of sufficient areas to achieve productivity that meets local self-sufficiency of products, explaining that all these matters stand in the way of self-sufficiency in crops.

He added that despite the great challenges, Iraq has achieved self-sufficiency for 15 crops for vegetables, and has approached self-sufficiency for animal products, particularly poultry, by a large percentage, explaining that there is a decline due to the crises that Iraq is exposed to in particular, foremost of which is climate change and water scarcity in addition to the Corona crisis. and others.   https://almasalah.com/archives/10411

Friday AM Iraq Parliament News Highlights 8-12-22

Friday AM Iraq Parliament News Highlights 8-12-22

Constitutional Controversy Over Parliament After Al-Sadr's Call

Sumerian special  2022-08-12 | 06:00   Source:  Sumerian  1,888 views  The call of the leader of the Sadrist movement, Muqtada al-Sadr, to the Supreme Judiciary, to dissolve Parliament, opened the door to several scenarios for the Iraqi scene after nearly nine months of political stagnation, and kept the options for his rivals limited in the coordinating framework.

The most prominent of these scenarios are the exclusion of framework figures from the political scene, the withdrawal of the Sudanese nomination from the race to form a government, and the renewal of Al-Kazemi’s government until new early elections are held, options that are very compatible with Al-Sadr’s ambition, but they are more like concessions from the framework to Al-Sadr, according to observers.

Legally, the parliament itself is dissolved in accordance with Article 64 of the Constitution, which states that this parliament is dissolved by an absolute majority of its members, i.e. half of the total number plus one.

As for the second method of dissolving the Council, it was excluded because the current government was to conduct business and was not formed by this parliament, that is, the presidents of the republic and the ministers are not entitled to submit the joint application according to the decision of the Federal Court.

Parliament has lost legitimacy, which prompted it to demand the judiciary to issue a decision dissolving the House of Representatives without referring to what was mentioned in Article 61 of the Constitution, according to what some legal experts said.   LINK

October Revolution On The Walls Of Parliament

Sumerian special   2022-08-12 | 05:49   Source:   Sumerian  2,091 views   Preparations for initiating lawsuits against the presidencies, and Tishreen records a presence on the walls of Parliament

Inside the gardens and squares of Parliament, the protesters’ tents are witnessing a movement in preparation for launching lawsuits against the presidencies regarding the dissolution of Parliament amid clear support for the Ashura revolution from the Tishreen revolutionaries.

These are the pictures of the Tishreen martyrs in a different place and time.. Ashura, both of them went out for change and reform

The sit-in’s tents are still fixed in the green land about two weeks after its launch, so there is no return or withdrawal unless the demands are met, as described.

In contrast to the movements of the coordination framework on the other side, al-Sadr stands besieging the judiciary with a time limit not exceeding one week to dissolve Parliament by initiating lawsuits before Protesters against the three presidencies    LINK

Al-Sadr Sends A Message To The Demonstrators Of The Coordination Framework[/Size]

Policy   2022-08-12 | 04:44  Source:   Alsumaria news    19,636 views   Today, Friday, the leader of the Sadrist movement, Muqtada al-Sadr, sent a message to the demonstrators of the coordination framework.

Al-Sadr said in a tweet onTwitterI followed it  Alsumaria news  [/url]   “We and the tire people do not disagree about the existence and pervasiveness of corruption in the country, even if we disagree with its leaders in that, for the reform camp in its demonstrations is also demonstrating for you, the tire people, so it is surprising that you do not support us in order to save the country that has fallen prisoner of occupation and terrorism and corruption.”

He added, "Let your demonstrations be a support for reform, not a victory for the prestige of the state and the governments that followed suit."IraqWithout any benefit to be desired, he added, “Do you not want your dignity, freedom, security, food, safety and goodness, as we demand!?”

Al-Sadr asked, "Is it reasonable that you do not take inspiration from your Imam Al-Hussein to reform and overthrow the state of Yazid, without taking into account its prestige?"

And he continued, "If you refuse to do so, know that when you demonstrated and protested over what you called (election fraud), we did not try to demonstrate and sit in concurrently with you, despite our ability to do so."

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And he continued, "You decided to demonstrate in conjunction with the demonstrations of reform, so let your demonstrations be peaceful and to preserve civil peace, for Iraq is more important than all names, and in general, our hands are extended to you, the fans of the framework without its leaders, to try to fix what has been corrupted by following the approach of Imam Hussein (peace be upon) and the conduct of our reference al-Sadr. ".

Al-Sadr concluded his tweet, "But if you refuse, we are proceeding with reform in obedience to God, love for the master of reform, love for the homeland, and peace be upon those who follow peace."   LINK

]Al-Abadi calls on supporters of the Sadrist movement and the coordination framework[/size]

political| 03:00 - 12/08/2022  Baghdad - Mawazine News, the head of the victory coalition, Haider al-Abadi, called on supporters of the Sadrist movement and the coordinating framework.

Al-Abadi said in a tweet via Twitter: "I call on our dear followers of the trend, the framework and the patriots to cooperate and work together to reform the situation, serve the citizens, and fight corruption and the corrupt, even if they are my relatives."

He added: "We want a state of justice and serving the people. In justice there is ampleness, but do not restrict citizens to their livelihood, interests and security, and stay away from public and private property." Ended 29 / h https://www.mawazin.net/Details.aspx?jimare=202199

President Barzani And Khamis Al-Khanjar: Early Elections Are A Good Step

Posted On2022-08-11 By Sotaliraq     President Masoud Barzani and the head of the Sovereignty Alliance, Khamis al-Khanjar, stressed that "the early elections are a good step, provided that all parties abide by their results."

President Masoud Barzani received today, Thursday, (August 11, 2022) at the Salah al-Din resort, the head of the Sovereignty Alliance, Khamis al-Khanjar, and they discussed developments in the Iraqi political process.

According to a statement by President Barzani's headquarters, the two sides stressed "the need for cooperation and joint action to end the current crisis, and get out of the political blockage that Iraq is suffering from."

The two sides also stressed the need for "all new initiatives and steps to resolve the political crisis, towards amending the course of the political situation in Iraq and ending crises."

The two sides also stressed that "holding early elections is a good step, provided that all parties abide by their results."

Khamis al-Khanjar had expressed, in a tweet on Twitter, on August 3, 2022, his support for Muqtada al-Sadr's speech on holding early elections, saying: "We support all sincere efforts to save Iraq, and to address the political stalemate that has crippled the state and the interests of the people," referring to The necessity for early elections to be in accordance with “new criteria, machines, and fair laws that allow for real competition.”

The Sovereignty Alliance has 60 seats in the Iraqi Council of Representatives, and represents the majority of Sunnis in Iraq.

It is noteworthy that the leader of the Sadrist movement, Muqtada al-Sadr, had called in a speech on (August 3, 2022) to dissolve parliament and hold early elections.

Disclaimer: All published articles represent the opinion of its authors only    LINK

Al-Sadr Calls On The Judiciary To Assign The President Of The Republic To Set A Date For Conditional Early Elections

Posted On2022-08-11 By Sotaliraq   Baghdad - Abdul Hussain Ghazal   The leader of the Sadrist movement, Muqtada al-Sadr, demanded, on Wednesday, the Supreme Judicial Council to dissolve the Iraqi parliament during the week The next, while the President of the Republic called for setting a date for early “conditional” elections.

While   several forces had expressed their conditional approval of the new elections.

Al-Sadr said in a tweet via Twitter, “I am addressing my words to the Iraqi judiciary, which we still hope for The good, despite the political and security pressures he is subjected to, and leaks from here and there, is to be established dissolving Parliament after constitutional violations within a period not exceeding the end of next week, and assigning the President of the Republic to determine The date of early elections is conditional on several conditions that we will announce later.”

Al-Sadr directed the protesters and deputies of the Sadrist bloc who resigned from the House of Representatives to “submit formal lawsuits to the Federal Court by means of Legal and through the centralization of the committee supervising the sit-ins to submit them to the competent judicial authorities.

Al-Sadr raised the level of pressure on his opponents, relying on his ability to mobilize the street, calling them last week to dissolve Parliament and hold early elections. His opponents, in the coordinating framework, accepted the dissolution of Parliament on conditions, while one of them demanded the reconvening of the parliament to consider the issue solve it.

But al-Sadr demanded, on Wednesday, in a tweet, to resort to the judiciary to dissolve parliament, from which his bloc’s deputies withdrew in In June, he considered that the political blocs are "sticking to quotas and continuing to corruption," and "they will not acquiesce." To demand the people to dissolve Parliament.”

Al-Sadr called on “the competent judicial authorities, especially the head of the Supreme Judicial Council,” to intervene and “correct the course, especially.” After the end of the brief constitutional and other deadlines for Parliament to choose a President of the Republic and assign a Prime Minister to form a government.

Al-Sadr added that the judiciary “must dissolve parliament after these constitutional violations … within a period of no time.” beyond the end of next week … and assigning the President of the Republic to set a date for conditional early elections,” stressing that he will announce About these terms later.

He said that "during this, the revolutionaries will continue their sit-ins", but "they will have another position if they are not." The people have been let down again.”

Article 64 of the Iraqi constitution stipulates that the House of Representatives shall be dissolved by “an absolute majority of the number of Parliament.” Its members, at the request of one-third of its members, or a request from the Prime Minister and with the approval of the President of the Republic ».

Al-Sadr asked “from the revolutionaries, the resigned Sadrist bloc, and other deputies … to submit formal lawsuits to the Federal Court, in ways.” legal” in order to proceed with the dissolution of Parliament.

This comes after the former Iraqi Prime Minister and Sadr's political opponent, Nouri al-Maliki, announced on Monday his refusal to dissolve the government Parliament and go to early elections before Parliament returns to session.

Since the early parliamentary elections in October 2021, Iraq remains in complete political paralysis With the inability to elect a new President of the Republic and form a new government. The main difference lies in the fact that the Sadrist movement wanted a “national majority” government in alliance with the Sunnis and the Kurds , while his opponents in the coordination framework wanted to maintain the consensual formula.

The Secretary-General of the "I go down to take my right to democracy" movement, Mashreq Al-Fraiji, revealed on Wednesday the main demands For the demonstrations on Friday, which   will start from Paradise Square, and some parties called for it in October.

Al-Fraiji said in a local statement that "part of the October movements will participate in this demonstration, as well as political movements." civic organizations and unions.

He added, "The demands of this demonstration are to form a government, regardless of its formality, to hold early elections." It has some tasks on its shoulders, such as holding the killers of the demonstrators accountable and investing the financial surplus to lift the burden off the shoulders of the citizen.” .  LINK

Some "Friday News" Posted by Samson 8-12-2022

KTFA:

Samson:  Five major Chinese groups announce their withdrawal from the New York Stock Exchange

12th August, 2022

Five Chinese companies, including two of the country's largest oil groups, announced their withdrawal from the New York Stock Exchange on Friday  

Sinopec and PetroChina - one of the world's largest energy groups - said in separate statements that they would apply for a "voluntary withdrawal" from the US stock market

Similar announcements were made by the Chinese aluminum company "Chalco", "China Life" and a branch of Sinopec based in Shanghai  LINK

Samson:  "Buna" Platform For Arab Payments Holds An Interactive Workshop To Share The Main Developments And Practical Experiences In Several Areas Related To The Functions Of The System

11th August, 2022

Shedding light on the main capabilities and priority practical experiences of the banking sector

The workshop will host more than 200 participants from representatives of central banks, regional and global financial and banking institutions

The Buna platform for Arab payments, which is affiliated with the Regional Institution for Arab Payments Clearing and Settlement owned by the Arab Monetary Fund, will hold today, Thursday, August 11, 2022, a “remotely” workshop to shed light on a number of main capabilities and practical experiences related to the functions of the “Buna” system.

Of interest to the banking sector, as the topics of the workshop include presentations on the technical capabilities related to application programming interfaces (APIs), and future plans to extend the working times of the system, in addition to sharing some practical experiences in the field of compliance systems.

The workshop will host more than 200 participants representing central banks, financial and banking institutions, payment service providers and financial services from the Arab region and abroad, to learn about these important and vital topics and to follow up on the development of the Buna platform and its future plans.

During the workshop, the technical mechanisms for the work of the application programming interfaces ( APIs ) of the Buna system, and the advantages they provide for participants to take full advantage of the system's multiple functions, will be presented. 

Benna's team will also give a presentation on the platform's plans to gradually extend the operating window times of the system, towards a complete transition to providing services around the clock and during all days of the week, thus enhancing the benefit of the banks participating in the platform. 

In the workshop, a special presentation on compliance will be presented, sharing some practical experiences and important practices with the participating banks from the reality of the work of the payment control systems in the platform, highlighting the importance of the quality of data contained in payment transactions and the advantages of the global messaging standard ISO20022  to achieve effective compliance.

On this occasion, Mr. Mahdi Manea, CEO of the Regional Institution for Arab Payments Clearing and Settlement (Bunyi Platform for Arab Payments) , spoke : “We are working to keep the participants in the Bani platform informed of all practical experiences and developments, as this is in line with the platform’s role in enhancing the status of Banks in the field of cross-border payments. These capabilities will provide them with the ability to maximize the desired value of the platform to support their plans to improve cross-border payments services for their customers.”

Mr. Manea added : “This edition of the Buna interactive monthly workshops will provide the opportunity for participants to learn and exchange practical experiences and concrete plans, whether the participating bank seeks to benefit from the full technical capabilities of the Buna system and achieve maximum efficiency, or to benefit from extending operating windows times. The platform to provide a rich experience to their customers, or receive insights into the practical experiences of compliance systems in the platform to further improve risk management controls.”

It should be noted that the "Bunny" platform constitutes an integrated system specialized in providing clearing and settlement services for payments in Arab and international currencies.

 It aims to enable financial and banking institutions in the Arab region and beyond, including central and commercial banks, to send and receive inter-payments throughout the Arab region and abroad in a safe and reliable manner, at an appropriate cost and with high efficiency. Buna offers participants state-of-the-art payment solutions that comply with international standards and principles and international compliance requirements. "

Buna" contributes to enhancing opportunities for economic and financial integration in the Arab region and supporting investment links with trading partners in various continents. It is noteworthy that participation in the platform is available to all banks and financial institutions that meet the criteria and conditions for participation in it, foremost of which are the standards and procedures for compliance aspects.   LINK

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Samson:  Economist: The Price Of A Barrel Of Oil May Reach 130 Dollars Next Winter

12th August, 2022

The economic expert, Dr. Safwan Qusay, suggested that the price of a barrel of oil would reach 130 dollars during the coming winter, pointing to the possibility of investing the increase in revenues and converting them into internal investments and activating the private sector to absorb unemployment and introduce new revenues to the country.

Qusay told Al-Maalouma, "The price of oil will depend on the amount of releases from strategic storage for China, Japan, America and the European Union, who own strategic reserves, as consumption is scheduled to be at a rate of 60 million barrels per month."

He added that "the mentioned countries and if they raise the percentage of consumption from the strategic storage, it is possible to control the price, and in the end, the prices will remain at their position during the current period, but it may reach in the winter to 130 dollars per barrel."

And he indicated that "Iraq can invest the surplus of oil prices in absorbing unemployment and poverty, developing infrastructure, and resorting to investment to employ the unemployed and activate the private sector to bring in new revenues."   LINK

Samson:  Iraq completes a project to link airports with neighboring countries

12th August, 2022

Today, Friday, the General Company for Air Navigation Services announced the completion and activation of the modern AMHS system for exchanging telegrams between Iraqi airports and airports of neighboring countries, after great efforts.

In a statement received by Mawazine News, the company's general manager, Nizar Ibrahim Al-Ziyadi, said, "In line with the aspirations of the Minister of Transport, Captain Nasser Hussein Al-Shibli, to develop the infrastructure of the aviation communications system, the staff of the Aviation Communications Department, AFTN Division, has completed the activation of the modern AMHS system for the air telegram processing system.

After the efforts of eight consecutive years by the committee supervising the project, "noting that "the completion of the project began in 2014 and in several stages, and today the fruit of the efforts is reaping its completion in cooperation with the Canadian IDS company."

Al-Ziyadi praised the efforts of the members of the Supervision and Follow-up Committee, including engineers in the Communications Department. 

In turn, the Director of the Aviation Communications Department explained that "the system is considered one of the important, necessary and vital projects to link all Iraqi airports with international airports to exchange telegrams with a modern system within the requirements of the International Civil Aviation Organization (ICAO),"

Noting that "the trial operation was conducted for the past three days, and the staff of the AFTN Division began yesterday At ten in the morning, the official activation of the system, and the international aviation organizations were notified of Iraq's adoption of the AMHS system for exchanging telegrams.

For his part, the Director of the AFTN Division confirmed that "Iraq today entered the international encyclopedia in adopting the AMHS project, which is one of the aviation communications systems that work on sending telegrams,"

Noting that "the system deals with all types of civil and military aircraft and sends air telegrams between Iraq's airports and international airports without Any identification and includes information related to the weather, the state of civil and military aviation, air telegrams, and sending many photos in addition to information about flights in the event of delays, advances of their times, or airports stopping for emergency reasons.  LINK

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Samson:  Supporters of the coordination framework demonstrate in Baghdad and Mosul "in defense of the state and its legitimacy"

12th August, 2022

Two demonstrations were launched in the capital, Baghdad, and the city of Mosul, the center of Nineveh Governorate, on Friday, for supporters of the comprehensive coordination framework of Shiite forces, with the exception of the Sadrist movement.

Shafaq News Agency correspondent said that hundreds of Al-Attar supporters gathered in the two-storey square in Al-Jadriya area, heading towards the Green Zone from the side of the suspension bridge gate.

The demonstrators raised banners calling for "the formation of a national service government to combat high prices, unemployment and the lack of electricity." As well as the demonstrators raised slogans "No to chaos and sabotage institutions and reduce the price of the dollar."

In Mosul, a demonstration of supporters of the coordination framework took place in Dora Al-Hamam near the Al-Nabi market area on the left side of the city. The demonstrators told Shafak News Agency's reporter, "The goal of their demonstrations is to protect the state and defend legitimacy."

The demonstrators are from outside the city of Mosul, who come by bus to demonstrate in Mosul, and the majority of them are from the Shabak Nineveh Plain.  LINK

"Tidbits From TNT" Friday 8-12-2022

TNT:

Ulued:  Iraq knows they are holding the golden opertunity in there hands and they know this oppertunity may pass them by for years again.....this is their Gound Hog DAY…. I think it happening on a downward slope and will happen soon...

Red:  anyone ever hear about the RV in Japan, Hawaii and Germany, quite the interesting story... many went from rags to britches and from poverty to shameless riches... these events are true folks read them and weep over the blessings that are headed your way, tears of happiness....

CharlieOK:  Tony's last cc was loud and clear imo. He wants us to wait and see what Iraq will or will not do. If they do nothing, he clearly has said the US/UN will do it for them. He also clearly recognized that every time we get close to the rv, the rug gets pulled out from underneath us.what does or does not happen. I know. I know….One way or another, even if it takes to the end of this year, a Caretaker Govt., (or an Interim Govt.) is the sweet spot for us, imo.

CharlieOK:  Also keep in mind, that we may be in the middle of being "Kuwaited". That is just fine with me. We may be being lied to and there is a real shadow, behind the scenes govt. operating all along, which will end up with the cbi pulling the trigger. Great. Do it, already.

Shybaby:  Central Bank of Iraq reserves return to levels before ISIS war

Baghdad (IraqiNews.com) – The Central Bank of Iraq (CBI) announced that its cash reserves rose to 82 billion USD, which is the level prior to ISIS war, and advanced 10 ranks in the list of countries with the largest gold reserves in the world, with 130 tons.

The spokesperson for the Central Bank of Iraq, Omar Essam, indicated that the bank’s cash reserves rose to 82 billion USD, and is expected to reach 90 billion USD by the end of 2022.

The bank’s cash reserves witnessed a significant decrease after the Ministry of Finance withdrew 12 trillion dinars in a first step, and 14 trillion dinars in a second step at the end of 2020 because of the financial crisis caused by the Corona pandemic and the drop in oil prices.

In regards to gold reserves, Essam explained that Iraq possesses 130 tons of gold, and is among the countries with the largest gold reserves. He added that Iraq is now ranked the 30th globally and the fourth in the Arab world.

Member of the Parliamentary Finance Committee, Jamal Cougar, elaborated that Iraq’s reserves before the ISIS war ranged between 81-82 billion USD, but they decreased after the ISIS war to about 38 billion USD during the times of former prime ministers Haider Al-Abadi and Adel Abdul Mahdi.

Cougar also talked about gold reserves and mentioned that the world is heading towards gold and not the US dollar as a reserve for central banks. He added that the reserves were in gold before they become in US dollars. 

Cougar indicated that there is a Russian-Chinese effort to end the dominance of the US dollar and restore the position of gold, clarifying that there are countries fear that the dollar will lose its position

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Tishwash:  A strong rise for oil .. Brent is close to $ 100 a barrel

Oil prices closed higher than two dollars after the International Energy Agency raised its forecast for the growth of oil demand for this year, as the rise in natural gas prices led to some consumers turning to oil.

Brent crude futures rose $2.20, or 2.3%, to settle at $99.60 a barrel. US West Texas Intermediate crude futures also rose $2.41, or 2.6 percent, to $94.34.

The Paris-based International Energy Agency said in its monthly oil report, in which it raised its forecast for demand in 2022 by 380,000 barrels per day, "Natural gas and electricity prices rose to new records, spurring the transition from gas to oil in some countries." .

By contrast, on Thursday, the Organization of the Petroleum Exporting Countries (OPEC) lowered its forecast for global oil demand growth in 2022, citing the economic impact of Russia's invasion of Ukraine, high inflation and efforts to contain the Corona pandemic.

OPEC expects oil demand to rise in 2022 by 3.1 million barrels per day, down by 260,000 barrels per day from previous expectations. However, it still expects a higher overall global oil demand figure than the IEA for 2022.

Last week's rise in US oil inventories and the resumption of crude flows in a pipeline supplying central Europe limited price gains.

The US Energy Information Administration said US crude oil inventories rose 5.5 million barrels in the last week, much more than expectations for an increase of 73,000 barrels.

The United States said on Thursday that nine companies will buy 20 million barrels of oil in the latest sale of the Strategic Petroleum Reserve, as part of the efforts of President Joe Biden's administration to ease high oil prices due to the Russian invasion of Ukraine and a lack of spare capacity globally to boost production.

The administration said in March that it would withdraw 1 million barrels of crude per day from May to October, or about 180 million barrels from the Strategic Petroleum Reserve, which holds oil in caves on the coasts of Louisiana and Texas   link

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CandyKisses:  Iraq's budget... a tossing ball and scattered accounts

Iraq's budget... A government without a financial budget has become not a strange thing in the Iraqi state in recent years, despite the severe economic and development damage to the country as a result.

The budget specifies the items of state expenditures during a year, especially for salaries, subsidies, and the payment of debt burdens, as well as the target of state revenues. Despite the government’s success in obtaining about $ 18 billion within the Emergency Security Law for Food Security and Development approved by Parliament on June 8 to secure energy imports, finance important service projects, and fund the Social Welfare Fund, officials confirm the country’s continued need for the draft budget. Earlier, at nearly $90 billion.

Above all, the final accounts of the previous budgets have not been resolved, although they must be submitted after the end of each fiscal year and before the approval of the new budget.
 
In this regard, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, clarifies about the presentation of the final accounts of the current government, indicating that there are two main factors that have contributed to the failure to approve the final accounts on a regular basis 10 years ago. 

 Saleh said on June 30 that "the current government's presentation of the final accounts requires the submission of final accounts extending from the year 2015-2020, taking into account that the year 2020 there is no general budget, which requires the submission of a draft law called the current budget, which is a legal expression of a final account and budget in

At the same time, the revenues and expenditures are now realized. Saleh said that "the oversight task of the House of Representatives in this regard will be a little arduous in following up the completion of the country's final accounts for the years 2013-2021, but it will certainly be fruitful after passing the final account for the fiscal year 2013 and enacting a budget law for the current situation for the year 2014 so that the government can refer the rest of the government accounts sequentially only previous years".
 
And the Federal Supreme Court - its decisions are binding on all authorities - stripped Al-Kazemi’s government of all powers, as it is a caretaker government with limited powers, and it is not entitled to propose important bills with the invalidation of all appointment orders of higher grades issued during the period of the conduct of business. 

In his speech at the cabinet meeting yesterday, Al-Kazemi held the political situation responsible for the delay in the budget, and said: “We are now in the eighth month of 2022, and there is no budget, and the imbalance is not in the government, but because of the existing political situation, so how do we build schools, pave roads and build projects with Absence of political consensus on forming a government or finding a solution to the political impasse. He promised, "The issue of the budget is a very serious matter, and we have good financial abundance and we need to invest it in rebuilding infrastructure and achieving the demands of our people."

With regard to the federal budget for the fiscal year 2023, the financial advisor to the Prime Minister, Haitham al-Jubouri, ruled out its approval, saying to Al-Furat on July 25: “It can only be approved by the presence of a new government and not necessarily adopting the same approach as the current government, it may take austerity for the sake of the article; but if the government remains we will proceed with laying down the doors of the law." 

MP Ahmed Hama Rashid agrees with Al-Jubouri regarding the impossibility of approving the budget, saying, “The current government is unable to approve the country’s budget for this year, because it does not have the powers to legislate laws as approved by the Federal Court,” describing Al-Kazemi’s talk about the necessity of approving the budget.

"Scattered ashes in the eyes, nothing more." While the economic expert, Ali Al-Fraiji, considered that the political crisis over the formation of the next government has plunged Iraq into "a new chaos over how to invest the state's revenues and capabilities." 

Al- Fraiji pointed out that "it is difficult to approve the budget for this year in light of the political turmoil that Iraq is witnessing," noting that Iraq is entering economic chaos today, adding to the negative accumulations of previous years. State matters, including the salaries of employees and retirees, stated that a member of the Parliamentary Finance Committee, Jamal Cougar, said: “Compensation for the affected economic sectors needs a financial cover, and we have two legal covers to provide the allocated amounts.

 ”Presenting alternative laws by the government if they are in full force. He added, "As for the presence of a caretaker government, they should cooperate with each other to present financial laws as a proposed law from Parliament," stressing "the need for coordination between the government and parliament to cover and expand any sector that institutions need." 

And the economists' warnings escalated that the country would remain without a financial budget, and not address the effects of that, especially since its approval needs a few more months, in the event that the political crisis in Iraq is overcome.

Here, the expert in economic affairs, Abdul Hassan Al-Shammari, says that "this delay will hit the investment sector, and will contribute to the spread of unemployment among young people, and will even raise poverty indicators to higher levels." Al-Shammari believes that "addressing the effects of this will be difficult, and not as easy as some officials are talking about, so the political blocs should be aware of the danger of the current stage, and avoid taking risks."

Financial budgets represent the main tool for achieving the state's general policies, whether economic, social, or service, and serve as a presentation of the government's annual plans and programs, which it prepares in response to current challenges. 

 Budgets give governments the best planning to achieve the maximum revenue, and to reorganize their distribution according to spending priorities in order to serve the community. Most importantly, the budget is a tool that reflects the power and symbolism of the state through spending spending on all departments and institutions according to spending plans that are developed in a manner consistent with Citizen priorities, which means economic aspects will be disrupted if they are not approved

Mot: .. Is It Tooooo Soooon!!!??? ~~~~

Mot:  ... 10 Rules to ~~~~~

Iraqi News Thursday Evening 8-11-22

Iraqi News Thursday Evening 8-11-22

Tlm724 Administrator Bondlady’s Corner

Government Official: Iraq Is Not Thinking Of Floating The Currency At The Moment

Economy     Iraq    breaking    currency float   2022-08-10 02:18   Shafaq News/ A government official confirmed, on Wednesday, that Iraq is not considering floating the currency currently, indicating that the flotation at the present time will threaten the collapse of the country's economy.

The official said in an interview with Shafaq News Agency, The rentier nature of the Iraqi economy makes it difficult to float the Iraqi currency, and therefore Iraq is not currently thinking of floating it."

The official, who asked not to be named, added, "Access to hard currency in Iraq comes mostly from our oil exports, which is in the hands of the government, and that the local market is circulating for it and does not bring this currency,

And therefore its flotation will threaten the Iraqi economy with collapse because it will increase demand for it in exchange for limited supply."

He also indicated that “floating the currency without diversifying the economy will have negative repercussions on the purchasing power of the Iraqi consumer, especially the middle and poor groups,”

adding that, “the float is on the table with the government in the long run because of its importance in stimulating the production process in the country.”

It is noteworthy that some officials talk from time to time on the necessity of floating the currency and liberalizing it to preserve the hard currency reserves with the Central Bank.

https://shafaq.com/ar/اقتصـاد/مس-ول-حكومي-العراق-لا-يفكر-بتعويم-العملة-حاليا

A Court In Baghdad Decides To Bring In Officials From Al-Rafidain Bank Regarding The Ishtar Gate Company

Economy     Baghdad    breaking    Rafidain Bank    court    Admission    responsible   2022-08-10 00:06    Shafaq News/ The Second Karkh Investigation Court, which is concerned with the issues of the Integrity Commission, decided on Wednesday to bring in officials in Al-Rafidain Bank against the background of signing the contract of the Ishtar Gate Company.

A statement issued by the Supreme Judicial Council received by Shafaq News said that this court decided to take legal measures regarding contracts of electronic payment companies with the Rafidain and Rashid banks, the Industrial Bank and the Iraqi Trade Bank in coordination with the Integrity Commission, the Financial Supervision Bureau and the Central Bank.

And I also decided to bring in: the general manager of Al-Rafidain Bank, the bank’s board of directors, and the contract analysis committees for violating the notes of the Financial Supervision Bureau regarding the signing of the Ishtar Gate Company contract.

The "Ishtar Electronic Payment Company" fined Al-Rafidain State Bank 600 million dollars after it filed a lawsuit to the competent court.

The management of Al-Rafidain Bank decided the day before yesterday, Monday, to appeal the ruling issued against the bank.

An official document issued on the eighth of this month showed that the Ishtar Gateway Company for systems and electronic payment services for money had waived the lawsuit filed against Al-Rafidain Bank.

It is noteworthy that the Iraqi Minister of Finance, Ali Allawi, decided on 3/9/2021 to refer the director of Al-Rafidain Bank to the investigation and withdraw his hand because of his signature on the “Ishtar Gateway” project for electronic payment, which does not meet the conditions and laws related to contracts. https://shafaq.com/ar/اقتصـاد/محكمة-في-بغداد-تقرر-استقدام-مس-ولين-من-مصرف-الرافدين-بخصوص-شركة-بوابة-عشتار

(INA) Reveals The Circumstances Of The Fine Imposed On The Rafidain Bank And The Procedures Of The Government And The Judiciary

Economie Yesterday, 19:44  The source says to the Iraqi News Agency (INA), that "on March 4, 2021, Al-Rafidain Bank signed a contract with an Iraqi local company (Ishtar Gate) regarding the implementation of the (electronic payment service) project, which included, among the rest of the details, the publication of 10 thousand electronic payment machines. (ATM), issuing electronic cards to depositors and other services.

He added, "The bank manager and his committee did not return, to ascertain the opinion of the Ministry of Finance, according to the correct legal procedures,"

noting that "Finance studied the details of the contract after reviewing it, and found in it a clear prejudice to the rights of depositors and the interest of the treasury and public money. illicit, as well as suspicions about the local company itself and its level of performance.

He pointed out that "the Minister of Finance urgently referred the matter to the Prime Minister, who is the chief executive officer responsible for the general policy of the state, and it is not his duties or the duties of his office to audit every contract concluded by one of the Iraqi state institutions,

And the Prime Minister only directed a minister The Finance Ministry should continue to protect public funds and implement the law at all costs, and to stop this financial stipend that passed like a corrupt conspiracy under the title, (service contract).

And he continued, "The Minister of Finance suspended, according to the law, the general manager of the bank, suspended his powers, and referred him to an investigative committee, then referred the contract to the concerned oversight, in order to put (in a legal and not emotional way) the points in which the contract unfairly affects the right of public money, including the imposition of a penalty clause (un) legal), if the Rafidain Bank unilaterally stopped the contract.

He explained that  "the penalty clause was illegal because it exceeds (according to the concept of Iraqi law) the ceiling of the damage caused to the company (if it had actual damage).

This means that a fine of $600 million is tens of times greater than any damage that may befall a portal company. As a result of the bank’s suspension of the contract, which originally suffers from a legal imbalance, and because the intention is pure, the company (Ishtar Gate) resorted to the judiciary, and on May 4th issued a warning to the Ministry of Finance and to the bank that it would legally demand the penalty clause (600 million dollars).

He noted that "on August 3, the supervisory report was issued, which indicates dozens of places in the aforementioned contract, which clearly violate the instructions of the Central Bank of Iraq, and the instructions of the Ministry of Finance, and seriously harm public funds and depositors' money,

but Ishtar Gateway Company proceeded with its lawsuit, and a decision was issued From the Court of First Instance specialized in commercial cases in Rusafa, it shall decide (according to the text of the contract) in favor of the aforementioned company and that the Rafidain Bank shall pay the huge fine.

And he indicated that "the bank did not pay the aforementioned fine, because there is another stage of appeal, and filing the lawsuit to a higher judicial level than (a court that specializes in commercial lawsuits), given that there is a semi-premeditated intention to harm public money, and the conclusion of a contract in which there is unfairness in the interest of public funds and public funds. depositors, and in fact, it clearly violates dozens of instructions, laws and decisions in force.”

He pointed out that "the Minister of Finance immediately took the initiative to meet with the President of the Judicial Council, Faiq Zaidan, on the seventh of August, to put him in the details of the matter..

He pointed out that "the popular interaction with the huge amount of fine has angered the people, and they are right about that, especially at a time when the government is engaged in a delicate and multifaceted operation and confrontations with the corrupt, but the best way to confront these problems is certainly the law, and the government has succeeded."

Indeed, by stopping the violation of the law and preventing the exploitation of state resources, the corrupt people who stand behind this contract, whether they are politicians or owners of suspicious capital, will have much more than just a lawsuit that will win its first round as a result of misinformation and deliberate manipulation, and  this case will be a clear chapter through which the opinion is known.

The year is the extent of the government’s insistence on ending this file, not in the manner of the angry toiling citizen by hanging the accused in Tahrir Square, but by exposing all the parties involved, whether they are large or small.  He added,

"The Prime Minister does not have the law to (execute) a citizen, a convicted person, not even a terrorist, under any circumstance.

Confronting corruption is a security, legal and legislative confrontation that requires determination, will and support for the rule of law."      https://www.ina.iq/162833--.html

Documents .. The Judiciary Ratifies The Waiver Of The Ashtar Company In Compensation Of 600 Million Dollars From Al-Rafidain Bank

economy    Mesopotamia    waiver    Istar   2022-08-10 01:51   Shafaq News/ The Commercial Cases Court of First Instance confirmed, on Wednesday, that Ishtar Gate Company waived its right to obtain a financial compensation of 600 million US dollars from Al-Rafidain Bank for the termination of a contract between the two sides on issuing and managing cards for electronic payment and collection.

Earlier today, the Second Karkh Investigation Court, which is concerned with the issues of the Integrity Commission, decided to bring in officials at Al-Rafidain Bank against the background of signing the contract of the Ishtar Gate Company.

The "Ishtar Electronic Payment Company" fined Al-Rafidain State Bank 600 million dollars after it filed a lawsuit to the competent court.

The management of Al-Rafidain Bank decided the day before yesterday, Monday, to appeal the ruling issued against the bank.

An official document issued on the eighth of this month showed that Ishtar Gateway Company for Systems and Electronic Payment Services for Money has waived the lawsuit filed against Al-Rafidain Bank.

It is noteworthy that the Iraqi Minister of Finance, Ali Allawi, decided on 3/9/2021 to refer the director of Al-Rafidain Bank to the investigation and withdraw his hand because of his signature on the “Ishtar Gateway” project for electronic payment, which does not meet the conditions and laws related to contracts.

The Central Bank Counts The Private Banks And Clarifies The Payment Of The Retired Loan

Sweetened Today, 18:48   Baghdad - INA - Nassar Al-Hajj   The Central Bank counted, today, Wednesday, the number of private banks operating in Iraq, while setting a condition for the retired employee to pay the remaining loan he owes.

The Central Bank media said to the Iraqi News Agency (INA), that "the number of private banks operating in Iraq is 70 banks (commercial, Islamic, branches of foreign banks operating in Iraq)."

On the other hand, he added, "Requiring the retired employee to pay the installments of loans and advances he owes is related to the retirement authority,"

noting that "the retirement law stipulates that the amount of deduction from the pensioner's salary does not exceed 50% of his salary."

He stressed that "the bank is obliged to oblige the retired employee to pay part of the remaining loan that he owes, so that half of his salary covers the value of the monthly installment after reducing the principal of the loan," noting that "there is no demand to pay the full amount, as some promote."

https://www.ina.iq/162962--.html

Abdul Hassan Al-Shammari To / NINA /: Iraq’s Financial Potential Is Very High, Which Does Not Require The Transfer Of Funds From The Rights Of The Governorates

Wednesday 10 August 2022 21:45 | Economic Number of readings: 885   Baghdad / NINA / - The economic expert, Abdul Hassan Al-Shammari, confirmed:

"The financial potential of Iraq is very high, which does not require the transfer of funds from the rights of the provinces."  In a statement to the National Iraqi News Agency ( NINA ),

he said: "The Iraqi state does not have a clear and comprehensive vision of how to distribute wealth."

Al-Shammari added:  “The transfer of petro-dollars, outlets, and service projects from one side to another is meaningless, as Iraq has a very high financial possibility of rising oil prices, and therefore an amount must be allocated to any tournament or activity, whatever the budget or 1 over 12.”

He stressed:  "Petrodollar funds are a right of the governorates, and it is desirable to compensate them for oil exploration and projects to establish service projects, infrastructure, reconstruction, building a huge economic edifice and providing opportunities for the unemployed.

This is one of their rights over the state." /    https://ninanews.com/Website/News/Details?key=993172

About 300 Iraqi Officials And Ministers Accused Of Corruption And Integrity Cases Recover Two Trillion

dinars    politics    Iraq    breaking    integrity   2022-08-10 23:32   Shafaq News/ The Federal Integrity Commission announced, on Thursday, that 39 ministers and those of his rank and (241) of those with special grades, general managers and those of their rank, are among the accused in criminal cases.

She explained, during a press conference, that during the first half of this year, she considered (34,209) communications, reports and criminal cases, distributed between (8,877) communications, (10,535) reports, and (14,797) criminal cases.

It noted the recovery and prevention of wasting (1,773,380,063,273) dinars of public funds to the account of the public treasury through its deterrent and preventive measures.

The authority indicated that these amounts represent what was actually recovered to the account of the public treasury, or those that were revealed, or the funds that were issued court rulings to return them, which prevented and stopped their waste.

Integrity also said that its investigations led to the issuance of (731) arrest warrants by the judicial authorities, of which (396) were executed, including (8) ministers and those of his rank, and (53) of those with special degrees, general managers and those of their rank.

Integrity revealed that, during the first six months of this year, it worked on (58) files related to fugitives wanted in corruption cases, of which (23) files were processed, including (11) files against people with special degrees, general managers and those of their rank, in addition to (104) Files to recover the smuggled money, in which (166) judicial decisions were issued.

She indicated that she had prepared, during the same period (9) drafts of cooperation agreements and memoranda of understanding with Iraqi, Arab and international ministries and governmental institutions, one of which was concluded.  https://shafaq.com/ar/سیاسة/النزاهة-تستعيد-وتمنع-هدر-قرابة-تريليوني-دينار

Statistics: Iraq Lost 3 Trillion Dinars In One Year Due To The Corruption Of The Outlets

Politician    Last update 08/10/2022 | 10:30 AM   Information/Baghdad.  The Iraq Future Economic Corporation revealed, on Wednesday, that Iraq lost more than three trillion dinars during the past year 2021 due to the waste taking place at the border crossings.

The head of the Corporation, Manar Al-Obaidi, said in a statement seen by "The Information", that "seven countries announced the volume of their exports to Iraq in 2021, which amounted to more than 37 billion dollars, according to official reports issued by the customs authorities in those countries."

Al-Obaidi added,  "On the other hand, the Iraqi Customs Authority announced its data published by the Central Bureau of Statistics, in which it stated that the total volume of Iraq's imports amounted to 16 billion US dollars, and that

the volume of Iraq's imports from these seven countries amounted to only 7 billion dollars, a difference of 30 billion dollars."

He explained, "This big difference indicates the volume of unregistered goods entering Iraq through unofficial ports or through unofficial ways,

which led to Iraq's loss of more than 3 trillion Iraqi dinars as a minimum as a result of customs not obtaining the imported materials, which reflects the volume of waste that occurs in the field of ports." border, which has been talked about for a long time, but it is still clearly far from the required efficiency.”

Al-Obaidi indicated that "the Central Bank of Iraq sold more than 37 billion US dollars in 2021, most of which were to cover Iraq's imports, according to the data of the Central Bank." https://almaalomah.me/2022/08/10/612995/

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