More Iraqi News Highlights Late Tuesday Evening 11-15-22

More Iraqi News Highlights Late Tuesday Evening 11-15-22

Tlm724 Administrator Bondlady’s Corner

The US Federal Reserve Stops Financial Transfers To 14 Iraqi Banks

November 15, 2022   Journal(JNA)   In an economic step that is the first of its kind in Iraq in years,

the US Federal Bank stops financial transfers to 14 Iraqi banks and opens an investigation into the files of these banks, in preparation for their inclusion in the blacklist.

The US Federal Reserve's decision to stop financial transfers with Iraqi banks came as a result of accusing these banks of smuggling money from the currency auction illegally.

An informed source said in an interview to the Journal,

“the US Federal Bank issued its decision to stop financial transfers to 14 Iraqi banks, on charges of smuggling money from the currency auction (affiliated to the central bank), to countries under US sanctions, without revealing the source of the name of these banks.  He added that

”the Federal Bank has opened an investigation into the records of these banks, and

this will entail the imposition of greater and broader sanctions,

including the inclusion of these banks in the blacklist and the end of work with them".

The penalty for blacklisting provides for the suspension and punishment of all financial transactions between the US financial system and the listed bank.

These sanctions came less than a month after Mohammed Shiaa al-Sudani received the presidency of the new government and pledged to work to put the Iraqi economy on the right track.

The Iraqi market witnessed, on Tuesday, speculation in the dollar exchange rate, as it recorded today 148,500 Iraqi dinars against 100 US dollars, noting that the official quotation from the Bank of Iraq is 1450 dinars per one US dollar.

The dollar exchange rate has risen to record levels, with a difference of 3,500 dinars from the official real rate from the central bank, and this benefits speculators from the owners of banking companies, who today started buying only dollars and not selling.

The Iraqi economy is suffering from a large economic inflation due to

political problems,  instability of the financial market,  high rates of corruption and  money smuggling,

which created a kind of distrust among the Iraqi citizen, and that the Journal could get statements from the Central Bank of Iraq on the subject, which witnessed the suspension of dealing in dollars with four of its largest banks The reasons.   https://www.aljournal.com/الفيدرالي-الأمريكي-يوقف-التحويلات-ال

Rafidain Reveals The Number Of Its Accounts Open To Deposit Citizens' Funds

Yesterday's economy, 12:37  Baghdad-conscious   Rafidain bank revealed, on Tuesday, the number of its accounts open to deposit citizens' funds.

The bank's Media Office said in a statement received by the Iraqi News Agency (WA) that

"the number of accounts opened for citizens and other categories in its branches in Baghdad and the provinces during last October amounted to 7527 savings accounts and currently in dinars, dollars and deposit accounts".

He added that  "the number of current accounts opened to citizens and other categories last October reached 4216 current accounts in dinars and dollars, while the savings accounts opened to citizens amounted to 2968 accounts in dinars and dollars, in addition to the number of deposit accounts, which amounted to 343 deposits," pointing out that

"the bank continues to provide its services, by opening accounts for citizens wishing to deposit their money in the bank and receive interest in accordance with the conditions and controls set and customers of the bank can visit its branches in Baghdad and the provinces to view. https://www.ina.iq/170487--.html

Electricity: The Collection Project Will Not Cost The State Any Financial Allocations

Yesterday's economy, 12:41   Baghdad-WA – hendrin Makki  The Ministry of electricity, on Tuesday, identified five features of the electronic collection project, while noting that

the project will take an investment character and will not cost the state financial allocations, while stressing the need to proceed with the project.

Ministry spokesman Ahmed Musa told the Iraqi News Agency (WA) that

"the ministry held many meetings on electronic collection projects, electronic transformation and automation, and submitted extensive studies that include a comprehensive vision after reviewing international specifications and the experience of neighboring countries in Iran, Saudi Arabia, Jordan and even in the Kurdistan region, to the Council of ministers in order to discuss them in the previous government".

Moussa continued:  "the project was supposed to be on the agenda of the previous council of ministers, in order to discuss it fully and vote on it to get the decision to proceed with it, but it was postponed to the new government, "explaining that

"we are waiting for it to be discussed at periodic council meetings and voted on, to proceed with it.

He added that  "Prime Minister Mohammed Shiaa al-Sudani and the minister of electricity are very interested in completing the e-collection project and moving it forward," noting that

"after submitting tenders and technical studies, time ceilings will be set for the completion of the project.

"E-transformation projects and comprehensive e-collection require the installation of smart systems, in addition to the installation of Hess and smart meter systems," he explained.

He pointed out that  "the electronic transformation in the collection will work to provide services to informal informal or agricultural areas, so the regular service will be provided to adequately rehabilitate distribution networks, after they were not available within the law".

He stressed that  "the installation of meters will reduce consumption and control the energy returns produced, and make them sufficient for the processing hours,

in addition, it will maximize the collection resources, and reduce losses, so the ministry through this project can control the loads".

"The prices of electronic collection will be the same as those provided with government support, so there will be no increase in prices, which will benefit middle-and low-income citizens, and will preserve energy capabilities and values,"Moussa said.

He pointed out that  "the project does not need financial allocations, because it will be referred to sober investment companies after submitting their technical study and economic schedules, and carefully studied by the ministry, and then submitted to the Ministerial Energy Council, and then to the Council of ministers for approval," indicating that

"the project will take an investment character, and will not cost the state any financial allocations.  He pointed out that

"there are certain obligations on the contracting companies, including the rehabilitation of distribution networks and the provision of service in a systematic manner, and therefore there are certain obligations to the parties, namely the ministry and the contracting authorities".

Moussa stressed "the importance of moving forward with the e-collection project to control the values and capabilities of energy," noting that

"all countries of the world are working on the e-transformation and e-collection project, and therefore the project should be moved forward.    https://www.ina.iq/170490--.html

After The Theft Of The "Century".. The Council Of Ministers Decides To Contract With One Of The Major International Companies In Financial Auditing

Politics   breaking    Theft of the century    International auditing company

2022-11-15 15:43  The Iraqi Council of ministers decided, on Tuesday, to contract with an international auditing company on the background of the "theft of the century" related to tax insurance funds.

A statement from the media office of the Iraqi Council of ministers, received by Shafaq News Agency, said that

"in the field of government efforts aimed at financial auditing tax and Customs secretariats, after uncovering the crime of theft of tax insurance amounts that occurred more than a month ago, the Council of ministers agreed to authorize the Prime Minister's office to contract with one of the major international companies in financial auditing.

The statement added that  the approval came "for the purposes of auditing tax and Customs guarantees with the exception of Article 3 of the instructions for the implementation of government contracts, and the Ministry of planning undertakes the inclusion of the project in a component form on one of the projects within the investment budget for the year 2022".

The supervisory authorities have already revealed the embezzlement of tax Secretariat funds in the amount of 3.7 trillion Iraqi dinars, which has become known as the "theft of the century", and

the Iraqi judiciary issued arrest warrants against a number of those accused of "theft of the century", confiscation of movable and immovable property and seizure of real estate belonging to them and their families.

https://shafaq.com/ar/سیاسة/بعد-سرقة-القرن-مجلس-الوزرا-يقرر-التعاقد-مع-حدى-الشركات-الدولية-الكبرى-في-التدقيق-المالي

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Iraqi News Highlights Tuesday Evening 11-15-22

Iraqi News Highlights Tuesday Evening 11-15-22

Tlm724 Administrator Bondlady’s Corner

40 billion dollars... an abundance of oil revenues until the end of this year

Jalil Al-Lami to / NINA /:  Tuesday 15 November 2022 11:13 | Economical Number of readings: 355  Baghdad / NINA / - The economic expert, Jalil Al-Lami, confirmed that the financial abundance achieved from crude oil revenues will reach 40 billion dollars at the end of this year.

He told the National Iraqi News Agency / NINA /: In light of the financial abundance achieved from the process of exporting crude oil, which may reach (40) billion US dollars by the end of the current year (2022), the current government is supposed to invest this financial surplus in the completion of large development projects. To enhance non-oil revenues in order to support the real economy.

And he stressed: the growth in the various sectors increases by double the higher the rates of investment in the infrastructure of the economy, foremost of which are the vital sectors such as (electricity, water, transportation, communications, education and health)./ End 3

https://ninanews.com/Website/News/Details?key=1014087

The Dollar Rises In The Iraqi Market

Economie| 10:33 - 11/15/2022   Baghdad - Mawazine News   The exchange rates of the dollar rose today, Tuesday, on the Iraqi Stock Exchange.   Selling price: 148,350 dinars per 100 dollars  Buying price: 148,250 dinars per 100 dollars   https://www.mawazin.net/Details.aspx?jimare=211308

Low Oil Prices

Economie| 08:54 - 11/15/2022   Follow-up - Mawazine News   Oil prices extended their losses in early Asian trading today, Tuesday, to reach the lowest level in 3 weeks after OPEC cut its forecast for global demand for 2022, while rising numbers of Covid-19 cases in China clouded expectations of fuel consumption in the world. The largest importer of crude oil in the world.

Brent crude futures fell 16 cents, or 0.17%, to $92.98 a barrel by 0410 GMT, after settling down 3% on Monday.

US West Texas Intermediate crude recorded $85.39 a barrel, down 38 cents, or 0.44%, after falling 3.5% in the previous session.

The Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2022 for the fifth time since April, citing mounting economic challenges including rising inflation and rising interest rates.

It comes after the International Monetary Fund said on Sunday that the global economic outlook became more bleak than expected last month, noting a steady deterioration in purchasing managers' surveys in recent months.

Meanwhile, although investors were encouraged by China's announcements last week that it would reduce the impact of its strict anti-coronavirus policy to stimulate economic activity and energy demand, rising case numbers remain a major downside risk. Ended 29/M99

https://www.mawazin.net/Details.aspx?jimare=211293

The Council Of Ministers Withdraws Several Laws From Parliament And Approves Health, Sports And Service Decisions

Political | 06:12 - 11/15/2022   Baghdad - Mawazine News  Prime Minister Muhammad Shia Al-Sudani chaired, on Tuesday, the fourth regular session of the Council of Ministers.

A statement by Al-Sudani's office, of which Mawazine News received a copy, stated that "the session witnessed a discussion of the overall general situation in the country, and deliberation in a number of basic files related to the lives of citizens. The topics on the agenda were also discussed and decisions were issued in this regard."

He added, "Within the framework of government support for Iraq hosting the 25th Gulf Championship in Basra Governorate early next year, the Council of Ministers approved the following:

- The Iraqi Football Association borrowed $33 million from the Iraqi Trade Bank (TBI), and the amount is included in a draft law." The federal general budget for the fiscal year / 2023, to meet the requirements of the Arabian Gulf Cup (25), and the aforementioned federation may contract in the manner it deems appropriate.

In the field of governmental efforts aimed at financial auditing of tax and customs secretariats, after the crime of stealing tax insurance amounts that occurred more than a month ago was revealed, the Council of Ministers agreed to authorize the Office of the Prime Minister the authority to contract with a major international company in financial auditing, for the purposes of auditing tax guarantees.

Customs is an exception to Article 3 of the instructions for implementing government contracts. The Ministry of Planning undertakes to include the project as a component of one of the projects within the investment budget for the year 2022.

In the health file, and in light of the Prime Minister’s directives to the Ministry of Health to find immediate solutions to the problems that Al-Kadhimiya Hospital suffers from, which Al-Sudani diagnosed after the sudden visit to the hospital, and in addition to what he directed the Ministry of Finance to quickly fund the Ministry of Health to solve the problems that the rest of the hospitals suffer from, he agreed The Council of Ministers is as follows:

- Authorizing the Baghdad governorate to secure an amount of 3 billion dinars for each of the Baghdad Health Department, and 3 billion for the Rusafa Health Department, to meet the requirements for the rehabilitation of hospitals determined by the Ministry of Health out of petrodollar allocations, or border crossings from the special programs of the Emergency Support Law No. (2). for the year 2022), and as an exception to Paragraph (3) of the Government Contract Implementation Instructions No. (2 of 2014), with specifying a time limit for financing that does not exceed ten working days.

The Council of Ministers continued discussing other issues on the agenda, and issued the following decisions in this regard:

First / Recommendation to the House of Representatives according to the following:

1- Withdrawing the draft law dealing with housing abuses issued according to Cabinet Resolution 288 of 2017.

2- Withdrawing the draft Law on the Construction Council issued Pursuant to Cabinet Resolution 377 of 2019.

3- Withdrawing the list of ambassadors.

4- Authorizing the Prime Minister the power to withdraw bills from the House of Representatives.

5- Withdrawing the draft law amending Companies Law No. 21 of 1997.

6- Withdrawing the law of the first amendment to the Iraqi National Oil Company Law No. 4 of 2018.

7- Withdrawing the flag service law.

8- Withdrawing the draft law for the second amendment to the Public Roads Law No. 35 of 2002.

9- Withdrawing the draft federal civil service law

Second / Approval of the draft law of the first amendment to the Law of Private Security Companies No. (52) of 2017, which was audited by the State Council, and referred to the House of Representatives, based on the provisions of Articles (61 / item first, and 80 / item second) of the constitution, taking into account Attention is the opinion of the legal department in the General Secretariat of the Council of Ministers, which is confirmed by its memoranda of number (MD / S / 2/2/12/477 LS) dated December 28, 2020, and the observations of some members of the Council of Ministers during the meeting session, which were confirmed by the head of the department. Legal in the General Secretariat of the Council of Ministers.

Third / Approval of the following:

1- The Ministry of Planning will undertake the creation of a component for the Al-Khader and Al-Daraji water project for this year within the investment budget of the Ministry of Construction, Housing, Municipalities and Public Works.

2- The Ministry of Finance signs the financing agreement between the German Development Bank and the Iraqi government as soon as possible, and the relevant authorities secure the amount of the Iraqi government’s contribution to the project mentioned in paragraph (1) above, equivalent to (15,000,000) euros, only fifteen million euros.

Fourth / Approving the issuance of the system (for the year 2022), the first amendment to the system for freezing terrorist funds (5 for the year 2016), based on the provisions of Clause (Third) of Article (80) of the Constitution, and Article (22) of the Anti-Money Laundering and Terrorist Financing Law (39 of 2015), taking into account the remarks of some members of the Council of Ministers during the meeting session, which were confirmed by the Head of the Legal Department in the General Secretariat of the Council of Ministers.

Fifth / Approval of the following:

Exemption and waiver of collecting fees for traffic plates for vehicles, number (32) vehicles imported for the benefit of the Shiite Endowment Office / the al-Abbas's holy shrine, the details of which are recorded in the accompanying table.

Linking the letter of the aforementioned threshold No. (635), dated August 14, 2022, mentioned in the two decisions of the Council of Ministers (68, and 237 of 2016), based on the provisions of Article (46) of the Federal Financial Management Law No. (6) of 2019, and Cabinet Resolution (28 of 2020).

Sixth / Approving the amendment of Paragraph (1) of Cabinet Resolution (345 of 2021) regarding the recommendations of the Committee for Setting Standards and Mechanisms for Counting Agricultural Areas Affected by Heavy Rains, Torrents and Floods, to become according to the following:

Approval of reports of torrential damage and rain in the governorates (Basra, Muthanna, Diyala, Anbar, and Wasit). Damages, and funds are allocated within the framework of the draft federal budget law for the fiscal year / 2023, with original records approved by the director of the concerned governorate’s Agriculture Directorate, the director of the financial department, and the director of auditing in the governorate, and what was audited by the governor (three names, type of damage, and notes) audited and printed .

Seventh: Delaying the implementation of Paragraph (Fifth) of the recommendations of the Diwani Order Committee (26 of 2020), related to providing support for agricultural crops (wheat, barley, rapeseed and yellow corn) for the current agricultural season regarding the use of modern irrigation technologies by providing agricultural support at an amount of 50% for fertilizers, and 70% for seeds, and 100% for pesticides, as requested by the Ministry of Agriculture; For the lack of sufficient sprinkler irrigation systems to cover the areas required for the cultivation of strategic crops.” Ended 29 / h

https://www.mawazin.net/Details.aspx?jimare=211362

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Iraqi News Highlights Tuesday Afternoon 11-15-22

Iraqi News Highlights Tuesday Afternoon 11-15-22

Tlm724 Administrator Bondlady’s Corner

Economist: Iraq's Association With The International Monetary Fund Prevents Resorting To Devaluation Of The Dollar

Today 08:46  Information / Baghdad... Economist Saleh al-hamashi explained that changing the value of the dollar against the dinar is not possible during the current period, especially with Iraq's association with the International Monetary Fund, as the devaluation will lose confidence with this fund.

"Most politicians are calling and declaring for a reduction in the exchange rate of the dollar against the dinar, while this is not possible at the moment due to the existence of international obligations," Al-hamashi told Al-Malouma.

"There is an agreement with the International Monetary Fund on the current dollar exchange rate, and it is possible that the rate will be reduced,

but in this case, Iraq will lose the support of this fund as well as international organizations, at a time when the country needs money," he added.

He pointed out that "Iraq's credit rating has dropped to second place B due to the presence of amounts owed by Iraq, as

the country's association with the IMF gives it the ability to obtain funds through international borrowing, and as a result,

violating the IMF's decisions to devalue the dollar means a loss of trust between Iraq and this fund.

"The government has the ability to find great treatments on goods and commodities to ensure that they reach reasonable prices to the consumer instead of going towards a reduction and losing confidence between it and the IMF," he stressed. Ended 25N

https://almaalomah.me/news/economy/اقتصادي:-ارتباط-العراق-بصندوق-النقد-الدولي-يمنع-اللجوء-لتخفي

For More Than 5 Million.. The Ministry Of Commerce Blocks The Ration Card For Citizens Abroad

Tuesday, 15 November 2022 3: 05 pm  Baghdad/National News Center  The Ministry of Commerce announced, on Tuesday, the move to block the ration card for more than 5 million citizens outside the country, while noting that it dispenses a ration vocabulary for everyone despite the lack of a database.

The administrative undersecretary of the Ministry of Commerce, Sattar al-Jabri, said in a press statement:

“the ministry does not have a sober and real database that can be adopted in state institutions,” indicating that “there is a great intersection and overlap in powers, in addition to the absence of a database of citizens, which confused the work of institutions and ministries, including the Ministry of Commerce.

He added that  “the ministry dispenses a ration and a food basket to 40 million Iraqi citizens,

but there are almost 5 million Iraqi citizens who are outside the country,

in addition to the deceased and those covered by the blocking decision, which number in the millions,

including the owners of companies and those with high incomes, and

therefore there is no database to access and block these names,”

pointing out that  “the Ministry of Commerce is forced to disburse the ration for everyone, because there is no database”.

He continued:  ”the ministries of foreign affairs and immigration have been contacted to provide us with names outside Iraq, but we have not yet been provided with real lists that can be approved,“ explaining that

”the lists that we received contain only triple names, and in Iraq there is a similarity with Triple names that cannot be approved.

“There is a big imbalance in the names of the deceased between the ministries of Health and trade, as there is no network connection between state institutions,” Al-Jabri stressed, stressing

“the need for a digital e-government, in order to automate information, can be adopted after obtaining an integrated database, which will be a real start to building the state. https://nnciraq.com/164842/

A British Report Talks About What Hinders The Sudanese In The Fight Against Corruption In Iraq

1,899 politics 2022/11/15 16:29 ak  Baghdad today-translation    The New Arab London network announced in a report published on the fifteenth of November this year, a set of reasons said that it stands as an "obstacle" to the efforts of the Sudanese government of Prime Minister Mohammed Shiaa in the fight against corruption, expecting it to lead to the "failure of his cabinet".

The report, which was translated by Baghdad today, said that among the obstacles that stand between the Sudanese government and the fulfillment of the promises he made during his assumption of power,

"stopping the deterioration of security after the recent assassinations, the latest of which affected an American citizen residing in Iraq, and

stopping the rampant corruption in the Iraqi system, which is hindering economic progress and solving local crises for the country.

"Al-Sudani's first actual steps to combat corruption backfired negatively after the disclosure of the involvement of the figure assigned by the head of the integrity commission, judge Haider Zayer, in corruption cases in 2016," she continued, stressing that

al-Sudani is still "facing a problem" in identifying figures who can take charge of sensitive files, including his continuing to lead the Iraqi intelligence service temporarily, as she put it.

Political researcher Aziz Raouf assured Al-Shabaka that the country's main problem regarding the fight against corruption lies in

"the fact that Iraq is not a unified country, where financial revenues are not sent to one place, but are dispersed on many sides where foreign countries have influence and significant interference in its affairs,"

stressing the need for the Sudanese government to unify the management of Iraqi financial revenues.

The network described the situation facing the Sudanese government as "very complex and difficult to carry out any reform or take any decision as a result of the direct interventions played by political parties and the armed bodies associated with them in the government decision-making process," referring to their effects on anti-corruption decisions.

Foreign interventions also play a role in hindering the fight against corruption, according to the network,

which stressed the need for the Sudanese to improve Iraq's relations with countries that have roles in the country,

in addition to working quickly to "improve services and provide them to Iraqis" to ensure that he receives adequate support in his efforts to combat corruption, which, according to the network, requires "urgent action".

Stressing the importance of accelerating the anti-corruption process, the network interpreted it as due to the "Sadrist danger" looming on the horizon against the Sudanese government,

indicating that the collapse of anti-corruption efforts during the coming period and the failure to achieve any tangible results will be exploited by the Sadrists to move on the street against the Sudanese and his government.

The network concluded its report by stressing the importance of the Sudanese to put in his calculations the dispersion of Iraqi revenues and foreign and partisan interventions in addition to popular support as the most important factors guaranteeing the failure or success of his efforts to combat corruption.

https://baghdadtoday.news/news/206266/تقرير-بريطاني-يتحدث-عن-م

Al-Sudani Confirms His Follow-Up To The Ongoing Investigations Into The Theft Of Tax Secretariats File

Tuesday, 15 November 2022 8: 46 pm  Baghdad/ National News Center  Prime minister Mohamed Shiaa al-Sudani confirmed on Tuesday that he is personally following up the ongoing investigations into the theft of tax secretariats.

Al-Sudani said during a press conference held in Baghdad by his/ The National News Center/that

“the field visits we are conducting are the most important axes of the current government's work and

from this point of view came our visit to Kadhimiya hospital and some imagine that the purpose of our visit was to take pictures, and

we emphasize that the goal is to ascertain the level of service provision and the status of the hospital”. He added,  ”the working conditions of doctors are bad in Kadhimiya hospital and

their quotas are very few and not commensurate with their number, and the

Ministry of Health has formed a team that provided a list of the needs of Kadhimiya hospital".  Al-Sudani stressed that ”within the government's directions

to deal with unnecessary spending, we directed the legal department to implement the law on the abolition of financial privileges for officials

and instructed the Financial Supervision Bureau to follow up the ministries to ensure the implementation of the law on the abolition of official privileges".

He stressed the “exclusion of peasants and farmers from the use of sprinkler irrigation systems during the current season”.

Al-Sudani said “ "I am personally following the ongoing investigations into the theft of tax and Customs secretariats' funds, and  the investigations should be based on the exact amount stolen,

so the Council of ministers issued a decision today to authorize the Prime Minister's office to contract with one of the major international companies in financial auditing, for the purposes of auditing tax and Customs guarantees,”

pointing out that   ”there are agreements that give Iraq the right to import wanted and stolen public money.

”The mobile phone companies have paid their debts as a condition for renewing their contracts, and we have commissioned the Ministry of communications to prepare a study to launch a fourth mobile phone license,”he said.

“The political agreement paving the way for the formation of the government provided for addressing the points of disagreement and there is a real desire to solve the outstanding problems with the Kurdistan region,”he said.

He pointed out that  ”Iraq is part of OPEC and is one of the main countries in it and the third producer in terms of quantities, and

we see in the government the need to reconsider the amount allocated to it within OPEC, as well as we are keen to keep the oil price at least one hundred dollars".

He explained that  “Iraq is keen on its Arab depth and its leading role in the region, and

as for relations with Saudi Arabia, there are foundations and agreements that support the strengthening of our bilateral relations.    https://nnciraq.com/164960/   

 To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Tidbits From TNT" Tuesday Morning 11-15-2022

TNT:

CandyKisses:  Jalil Al-Lami: $40 billion..a financial abundance of oil revenues until the end of this year

The economic expert, Jalil Al-Lami, confirmed that the financial abundance achieved from crude oil revenues will reach 40 billion dollars by the end of this year.

He told the National Iraqi News Agency: In light of the financial abundance achieved from the process of exporting crude oil, which may reach (40) billion US dollars by the end of this year (2022), the current government is supposed to invest this financial surplus in the completion of large development projects. To enhance non-oil revenues in order to support the real economy.

He stressed: The growth in the various sectors increases by a doubling rate as the rates of investment in the infrastructure of the economy rise, especially vital sectors such as (electricity, water, transport, communications, education and health).

TishWash:  Al-Sudani and Al-Mandlawi stress the need to expedite the presentation of the budget

Prime Minister Muhammad Shia Al-Sudani and First Deputy Speaker of Parliament Mohsen Al-Mandalawi stressed, on Monday, the need to expedite the submission and approval of the draft general budget law. 

The media office of the First Deputy Speaker of the House of Representatives stated in a statement, "Al-Mandlawi headed a parliamentary delegation that includes members of the Independent Iraq Alliance to meet with the Sudanese today at the government headquarters. The country and activating the broken laws, as well as giving the authorities and regulatory agencies a greater role to carry out their responsibilities in preserving public money and reducing corruption.”

The meeting stressed, according to the statement, "the need to expedite the submission and approval of the draft general budget law, and to rely on scientific competencies in managing the joints of the state to provide tangible results on the ground, achieve economic development and create new job opportunities, in addition to supporting the industrial and agricultural sectors and encouraging investment to activate the private sector       link

************

Tishwash:   Economist:Iraq's association with the International Monetary Fund prevents resorting to a devaluation of the dollar 1115

The economic expert, Saleh Al-Hamashi, explained that changing the value of the dollar against the dinar is not possible during the current period, especially with Iraq's link to the International Monetary Fund, as devaluing will lose confidence with this fund. 

Al-Hamashi told Al-Maalouma, "Most politicians are calling and declaring in order to reduce the dollar's exchange rate against the dinar, while this matter is not possible at the present time due to the existence of international obligations." 

He added that "there is an agreement with the International Monetary Fund on the current dollar exchange rate, and it is possible that the price will be reduced, but in this case, Iraq will lose the support of this fund as well as international organizations, at a time when the country needs money." 

And he indicated that "Iraq's credit rating fell to second place B because of the amounts owed by Iraq, as the country's link to the IMF gives it the ability to obtain funds through global borrowing, and in sum, violating the decisions of the IMF to reduce the value of the dollar means a loss of confidence between Iraq and this fund." ".

He stressed that "the government has the ability to find great deals on goods and merchandise to ensure that they reach at appropriate prices to the consumer instead of going towards a reduction and losing confidence between it and the International Monetary Fund."   link

************

CandyKisses:  Deputy Prime Minister: The Ministerial Council of Economy will discuss the budget in the next session

Deputy Prime Minister and Foreign Minister Fouad Hussein confirmed that a large part of the next session of the Ministerial Council for Economy will be devoted to discussing the proposed budget law.

A statement by the Ministry of Foreign Affairs stated, "Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein chaired Monday, the first meeting of the Ministerial Council for the Economy, in the presence of the Ministers of Planning, Trade, Agriculture, Labor and Social Affairs, the Secretary-General of the Council of Ministers, the Governor of the Central Bank of Iraq, and the Chairman of the Commission." National Investment Agency and advisors to the Prime Minister for economic affairs.

He added, "The Deputy Prime Minister welcomed the members of the Council, wishing them success in their work," stressing the need for the Council to take its real role in drawing up economic policies that would contribute to the development of the economy and development and provide the best services to citizens.

The Deputy Prime Minister confirmed that the Ministerial Council for Economy will devote a large part of the next session to discussing the budget proposal in order to complete it before submitting it to the House of Representatives. The statement continued, "The Council will discuss the items on its agenda and take the appropriate decisions.”

Mot:  alass .. the Quilt making Ladies finally Explained their Labels! ~~~

Mot:  .... oooooooh Yes!!! ---- Me!! Me!! Me!!  

Tuesday AM Iraq Economic News Highlights 11-15-22

Tuesday AM Iraq Economic News Highlights 11-15-22

Deputy Prime Minister: The Ministerial Council For Economy Will Discuss The Budget In The Next Session

Political | 10:50 - 11/14/2022  Baghdad - Mawazine News, Deputy Prime Minister and Minister of Foreign Affairs Fuad Hussein confirmed that the next session of the Ministerial Council for Economy will devote a large part of it to discussing the proposed budget law.

A statement of the Ministry of Foreign Affairs, a copy of which Mawazine News received, stated that "Deputy Prime Minister and Foreign Minister Fuad Hussein chaired today, Monday, the first meeting of the Ministerial Council for the Economy, in the presence of the Ministers of Planning, Trade, Agriculture, Labor and Social Affairs, the Secretary General of the Council of Ministers, and the Governor of the Bank.

The Iraqi Central Bank, acting head of the National Investment Commission, and advisors to the Prime Minister for economic affairs.

He added, "The Deputy Prime Minister welcomed the members of the Council, wishing them success in their work," stressing the need for the Council to take its real role in drawing up economic policies that would contribute to the development of the economy and development and provide the best services to citizens.

The Deputy Prime Minister confirmed that the Ministerial Council for the Economy will devote a large part of the next session to discussing the proposed budget law in order to complete it before submitting it to Parliament.

And the statement continued, "The council also discussed the items on its agenda and took the appropriate decisions regarding them." https://www.mawazin.net/Details.aspx?jimare=211282

The Baghdad And Erbil Stock Exchanges Closed Higher At The Exchange Rate Of The Dollar

2022-11-15 05:54   Shafaq News/ The exchange rates of the US dollar rose against the Iraqi dinar, on Monday, with the closing of the main stock market in Baghdad, and in Erbil, the capital of Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad closed at an exchange rate of 148,250 Iraqi dinars for 100 dollars, while the prices were 148,150 Iraqi dinars for 100 dollars this morning.

Our correspondent indicated that the buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 148,750 Iraqi dinars, while the purchase price reached 147,750 dinars per 100 dollars.

In Erbil, the stock market closed on a rise as well, as the selling price reached 148,400 dinars for every 100 dollars, and the buying price was 148,300 dinars for 100 dollars. LINK

Iraq Is The Fifth Largest Oil Producer In The World

Shafaq News/ Iraq ranked fifth among the most oil-producing countries in the world, according to an American website.

The American World Review website said in a report seen by Shafaq News Agency, "Iraq ranked fifth as the largest oil producer in the world, at a rate of 4.260 million barrels per day, after both: the United States, which came first at a rate of 11.567 million barrels per day, and Russia came second at a rate of 10.503 million barrels per day." And then Saudi Arabia came third at a rate of 10.225 million barrels per day, and Canada came fourth at a rate of 4.665 million barrels per day.

And she continued, "China came sixth at a rate of 3.969 million barrels per day, then the UAE came seventh at a rate of 2.954 million barrels per day, then Brazil came eighth at a rate of 2.852 million barrels per day, and Kuwait came ninth at a rate of 2.610 million barrels per day, and in the tenth place came Iran at a rate of 2.546 million barrels per day.”

She pointed out that "the United States surpassed Russia and Saudi Arabia in its oil production in 2018, despite the presence of many countries that have large oil reserves, but despite the fact that the United States of America is the largest producer in the world, it is also the largest consumer of oil in the world and imports additional oil from several countries, including Iraq.   LINK

OPEC Lowers Its Forecast For Global Oil Demand Growth: The Global Economy Is Facing Increasing Challenges

Shafaq News / OPEC, in its monthly report issued today, Monday, reduced expectations of global oil demand growth by 100,000 barrels per day in both 2022 and 2023. OPEC kept, in its monthly report on global economic growth, during 2022 at 2.7% and 2.5%. % in 2023.

She added, "The global economy entered a period of uncertainty and increasing challenges in the fourth quarter of 2022."

On October 5, OPEC + agreed to reduce the production of the known alliance by two million barrels per day, starting next month, which angered the United States of America, which said that the decision would harm the global economy and increase inflationary pressures.

The coalition is scheduled to meet on December 4 to decide whether to cut production again, keep it stable or reverse course and pump more oil.

Saudi Energy Minister Prince Abdulaziz bin Salman said that OPEC + members look at the state of the global economy and see a lot of "doubts".   LINK

OPEC: Iraq Increased Its Oil Production By 20 Thousand Barrels Per Day In October

Energy   Economy News-Baghdad  OPEC announced that the oil production of the 13 member states of the organization decreased to 29.494 million barrels per day in October, a decrease of 210 thousand barrels per day from last September, after the decrease in the production of Saudi Arabia and 7 other countries, while the production of Iraq increased.

According to the monthly report of OPEC, “the largest decline came from Saudi Arabia, as its oil production decreased by about 149,000 barrels per day, to reach 10.838 million barrels, followed by Angola, with a decrease of 78,000 barrels per day, followed by the Congo, with a decrease of 19,000 barrels, followed by Kuwait, with a decrease of 18,000 barrels per day.” Followed by Equatorial Guinea, down 14,000 barrels per day.

And she indicated that "the increases came from Nigeria, as its oil production increased by about 33 thousand barrels per day, to reach 1.57 million barrels per day, followed by Iraq, which recorded an increase of 20 thousand barrels per day, bringing its production to 4.572 million barrels per day, followed by Gabon, with an increase of 12 thousand barrels per day." .

In its monthly report, OPEC lowered expectations for global oil demand growth by 100,000 barrels per day in both 2022 and 2023.  60 views   Added 11/15/2022 - 9:28 AM  Updated 11/15/2022 - 2:45 PM

https://economy-news.net/content.php?id=30804

Oil: We Will Stop Importing 60% Of Our Gasoline Needs In 2023

Posted On2022-11-15 By Sotaliraq   Translated by: Hamed Ahmed  The Ministry of Oil stated that Iraq will stop importing 60% of its needs for gasoline and diesel next year, expressing its aspiration to develop the refinery and refining sector despite the security, health and financial challenges.

A report by Al-Monitor, translated by Al-Mada, stated, “During his visit to the South Refineries Company on the fourth of this month, the new Minister of Oil, Hayan Abdel-Ghani, revealed his ministry’s policy of focusing on doubling the company’s oil refining capacity to reach 350,000 barrels per day, with the aim of being self-sufficient. of oil products and reduce their import.

Abdul-Ghani said, "The southern refineries are today one of the largest Iraqi refineries in terms of production and the proportion of the great work they do to meet the needs of citizens and consumers of oil products."

Abdel-Ghani pointed out that "the workers in the southern refineries were at the level of responsibility through their distinguished efforts to continue work and production, despite the challenges and the health and economic crisis that the country faced in the previous period."

Abdul-Ghani stressed, "Continuing to support all southern oil refineries to meet the goals set for these refineries to reach the stage in which Iraq no longer needs to import oil derivatives."

And the report continued, “The oil refineries in Iraq suffer from major problems; As a result of its dilapidated situation and the lack of huge investments in this sector.

He explained, "This caused the country, which is the second largest oil producer in the Organization of Petroleum Producing Countries (OPEC) with its production of 4.6 million barrels per day, to import most of its needs of fuel and oil products," noting that "half of the quantities produced by Iraqi refineries are currently They are fuel oils.

And the report continues, “Iraq spends more than $3 billion annually on importing oil products, including 1.07 million tons of gas oil at a value of $657 million, 3.46 million tons of gasoline at a value of $2.5 billion, and 163,000 tons of white oil at a value of $102 million.” dollar".

And he added, "The Ministry of Oil conducted, on the twentieth of last month, tests on units in the Karbala refinery, hoping that the refinery will start production during the first quarter of 2023."

The Ministry of Oil is looking forward to developing the refinery and refining sector, despite the security, health and financial challenges it faces," said the official spokesman for the Ministry of Oil, Assem Jihad.

Jihad continued, "The ministry has completed the construction of the Karbala refinery, and is currently working on completing the Al-Faw refinery, while developing other refineries."

Jihad pointed out that "Iraq will stop importing 60% of its needs of gasoline and diesel during the next year."

Jihad talked about “investing this money in developing other sectors of the economy,” stressing that “the Karbala refinery will provide raw materials for secondary industries of oil products.”

In turn, the director of the Karbala refinery, Muhammad Fazaa, said, "The cost of establishing the refinery amounted to 6.5 billion dollars, and it extends over an area of ​​​​6 million square meters (1.5 million hectares), with a refining capacity of 140 thousand barrels per day."

Fazaa added, "80% of the crude oil will be refined, as it will produce light and high-quality products."

Fazaa indicated, "The refinery will produce 9 million liters of high-octane gasoline, 3 million liters of jet fuel, 4 million liters of diesel oil, and 1,500 cubic meters of cooking gas."

Fazaa stated, "The amount of production in the first phase of operation will be at a rate of 85,000 barrels per day," expecting that "it will reach its maximum capacity in the second phase."

The report stated, "The Baiji refinery in Salah al-Din Governorate, which is considered the largest refinery in Iraq, was destroyed after it was taken over by the terrorist organization ISIS, when it was producing 300,000 barrels per day."

He pointed out, "There are more than 15 refineries in Iraq, including those in the Kurdistan region, with a total refining capacity of more than one million barrels per day."

The report indicated, "Iraq currently consumes 32 million liters of petrol per day and 25 million liters of diesel, according to the Directorate of Petroleum Products Distribution."

He stressed, "The deficit in the domestic need, which amounts to more than 21 million liters per day, is covered by import."

And the report continues, “Iraq spent during the first quarter of this year 1.5 billion dollars on the cost of importing fuel.”

He added, "The list may reach $6 billion by the end of the year," adding that "the country previously spent $3 billion annually on fuel imports," and attributed that to "high prices in the global market resulting from Russia's war in Ukraine."

The Iraqi researcher in the field of energy, Yasser Al-Maliki, said, "Iraq is suffering from high fuel prices in the global market."

Al-Maliki continued, "The operation of the Karbala refinery helps reduce imports, but it does not achieve self-sufficiency."

Al-Maliki noted that “the refining sector in Iraq is still weak; Because of the government's economic policies.

Al-Maliki stressed that "foreign investors cannot invest their money in the refining sector and establish a billion-dollar refinery at a time when the state sells fuel at a subsidized price."

The report went on to say that “the price of fuel in Iraq is very cheap; As a result of government support,” noting that “the government imports one liter of gasoline for one dollar, and sells it to the citizen at a subsidized price of 0.45 cents, which led to attempts to smuggle it to neighboring countries.”

And the researcher Al-Maliki goes back to saying, “The problems of falling oil prices and high financial allocations to the public sector made the state focus mainly on securing employee salaries instead of paying attention to developing the refining sector.”

And the report stated, “Iraq’s current plan for the oil sector includes focusing on investment in the field of associated oil gas for the purpose of operating electric power plants.”

And he added, "Although Iraq offered several investment opportunities in the refining sector, such as the Dhi Qar and Maysan refineries, it failed to attract investors."

And the report concluded, that "this concludes from it, that Iraq will continue to import fuel over the next ten years."

About: Al-Monitor news website     LINK

Iraqi News Highlights Monday Evening 11-14-22

Iraqi News Highlights Monday Evening 11-14-22

Tlm724 Administrator Bondlady’s Corner

Government Official: The Return Of The Rise In Dollar Prices Due To The End Of The "Rumors" Of Speculators

Economy breaking General budget Central Bank of Iraq The rising price of the dollar

2022-11-13 08:22  Shafaq News/ a government official confirmed, on Sunday, that the rise in dollar prices again is due to the end of rumors and assurances of the central bank.

The official said in an interview with Shafaq News Agency that "the end of the rumors promoted by some speculators and dollar traders about the government's quest to reduce the price of the dollar,

as well as the assurances of the central bank to stabilize the exchange rate in order to maintain the stability of the Iraqi market led to a gradual rise in the price of the dollar over the past days.

The official, who preferred not to be named, added that "any adjustment to the dollar exchange rate within the budget policy being prepared for 2023 has not been touched upon so far,"

pointing out that  "any change in the exchange rate needs to be studied,

pressure on operating expenses and  diversification of the economy, which cannot be started at present.

https://shafaq.com/ar/اقتصـاد/مس-ول-حكومي-عودة-ارتفاع-سعار-الدولار-بسبب-انتها-شا-عات-المضاربين

UNAMI: Iraq Should Not Be Used As An Arena For Settling Scores

Today, Monday, the United Nations Assistance Mission for Iraq (UNAMI) condemned the Iranian attacks on the Kurdistan Region, while stressing that dialogue is the way forward.

The mission said in a tweet, "We condemn the renewed Iranian attacks with missiles and drones on the Kurdistan Region, which violate Iraqi sovereignty."

She added, "Iraq should not be used as an arena for settling scores, and its territorial integrity must be respected," noting that "dialogue between Iraq and Iran on common security concerns is the only way forward."    https://www.radionawa.com/all-detail.aspx?jimare=32144

After The Demonstrations In Front Of The Central Bank.. Disclosure Of The Fate Of Depositors' Funds In "Bankrupt" Private Banks

1,491 economy 2022/11/14 19: 18 hs   Baghdad today-Baghdad   The Economist, Salam smeism, on Monday, the Central Bank of Iraq, responsible for the return of depositors' funds in private banks, which declare bankruptcy from time to time.

"According to the laws and economic norms, the central bank is considered the legal and legitimate reference for all government and private banks, and it is the one who grants banks permission to practice banking," smeism told Baghdad today.

"The central bank is the guarantor of all banks operating in the country, and it is he who requires these banks to have working capital,

so the central bank must cover the losses of bankrupt banks, and return citizens' money," she added.  Smeism continued,

"Recently, a bank deposit insurance company was established, which is supposed to cover 75% of depositors' deposits in banks,"

explaining that  "the recurrence of banking crises destabilizes confidence in the banking system in Iraq.

A number of citizens demonstrated, on Monday, in front of the Central Bank of Iraq, to demand their money deposited with al-Warka National Bank, after it declared bankruptcy.

https://baghdadtoday.news/news/206191/بعد-التظاهرات-أمام-البنك

Integrity: (46) Arrest Warrants And Summonses Were Issued Against Senior Officials During October

Money and business   Economy News-Baghdad   The Integrity Commission announced the total of arrest and recruitment orders issued and executed against senior officials and high-ranking officials for the month of last October.

The Commission's Investigation Department reported that the judicial authorities issued (46) arrest warrants and summonses; Against the background of cases investigated by the commission’s investigation directorates and offices in Baghdad and the governorates and referred to the judiciary, noting that those orders issued against (41) high-ranking officials for the period from (1-31/10/2022), were distributed between (9) Arrest warrants, and (37) summonses.

The department added that the arrest and recruitment orders issued and executed were issued against (2) members of the current parliament, a current minister, (3) former ministers, and a current deputy minister.

She explained that the orders also included a current governor, (5) former governors, and (4) former members of provincial councils, as well as (10) current general managers, (9) former, and (5) former general managers.    95 . views   Added 11/14/2022 - 1:07 PM  Update 11/14/2022 - 5:15 PM

https://economy-news.net/content.php?id=30790

Jamal Al-Karbouli Calls For Opening The Black Box Of Corruption In Iraq

Politics , 2022/11/11 19:20, number of readings: 384   Baghdad-Iraq today:   The head of the solution party, Jamal al-Karbouli, on Friday, to open what he described as a ”black box” to reveal corruption in Iraq with names and information.

Karbouli said in a tweet on Twitter that “to know the full picture of the corruption pandemic that has hit Iraq, it is necessary to open the files of government and private banks, foremost of which is the Iraqi Trade Bank TBI”.

Al-Karbouli added that  this bank “is the black box that will reveal all the names and information“.

https://iraqtoday.com/news/67427/جمال-الكربولي-يطالب-بفتح-الصندوق-الاسود-للفساد-في-العراق

Salary Payment Mechanism System Reform (Salary Localization Project)

November 13, 2022   In order to  organize electronic payment operations and in order to

support the salary localization project and ensure the provision of the best banking services at the most appropriate prices and  not prejudice the rights of the beneficiaries of the above project,

it was decided to oblige the banks participating in the salary localization project to the following:

The validity period of the electronic payment card that will be issued for the benefit of customers benefiting from the salary localization project (3) shall be a minimum of three years.

The SMS service is optional and the spending entities are informed of the amount and time of the deduction, provided that the last beneficiary (employee/pensioner) receives the written consent to benefit from the service.

The commissions charged to all customers benefiting from the salary localization project will be as shown below:

A - Account Management Commission and salary increase commission combined with a maximum of (2,000) dinars (two thousand Iraqi dinars) per month.

B-the commission for issuing an electronic payment card (issued for the first time) with a maximum limit of (15,000) dinars (fifteen thousand Iraqi dinars).

C - the commission for reissuing the card (damaged or lost) with a maximum limit of (25,000) IQD (twenty-five thousand Iraqi dinars).

D - the commission for renewing the issuance of an electronic payment card after its expiration with a maximum limit of (15,000) dinars (fifteen thousand Iraqi dinars).

The above will be complied with and implemented as of 2023/1/1, provided that all spending entities are notified of this.   https://cbi.iq/news/view/2125

Reform Of The Payroll Mechanism System (Cash Withdrawal Devices)

November 13, 2022  In order to maintain the integrity and stability of the Iraqi payment system and the salary settlement project,

it was decided to oblige banks participating in the salary settlement project and electronic payment service providers (collectors) to::

1. The programs of the salary localization project are not integrated with the cash withdrawal service and are not included in any of the offers provided by the banks participating in the salary localization project and electronic payment service providers (collectors).

2. The commission for cash withdrawal through cash withdrawal devices (POC) is fixed at (6) per thousand and with a minimum of (2,000) Iraqi dinars deducted from the cardholder at the moment of making the cash withdrawal and is visible in the customer's bar.

The above will be complied with and implemented as of 2023/1/1, with the need to make customers aware of this.

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Iraqi News Highlights Monday Afternoon 11-14-22

Iraqi News Highlights Monday Afternoon 11-14-22

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance Rules Out Reducing The Price Of The Dollar: It Was Not Included In The Ministerial Curriculum

Posted On2022-11-14 By Sotaliraq   Baghdad/ Firas Adnan   Yesterday, Sunday, the Finance Committee in the House of Representatives ruled out resorting to reducing the price of the dollar and returning it to its previous value compared to the Iraqi dinar, pointing out that the ministerial curriculum is devoid of what refers to this paragraph, stressing that the budget is in the custody of a small government committee that prepares the final formulations, expressing It is hoped that the law will be voted on during the current year.

Committee member MP Jamal Cougar said, "The budget bill is still with the Council of Ministers, and it has not been voted on until the present time."

Cougar added, "The government has formed a mini-committee, which will deal with a pre-prepared draft of the ministries of finance and planning, and puts the final wordings in preparation for submission to the Council of Ministers."

He pointed out, “Parliament has extended the legislative term for one month, which is an authorization granted to us by the constitution for one time only, in the hope that the budget will reach us from the government during these days.”

Cougar called, "the government to take advantage of this extension, and work to expedite the sending of the budget bill, so that we can legislate it before the end of this year." The work will focus on the investment side, as most of the paragraphs of the ministerial curriculum are mentioned in it.”

And he indicated, "The budget did not witness a change in the exchange rate of the dollar at all," explaining that "If Prime Minister Muhammad Shia Al-Sudani had intended to change the price of the dollar, he would have included this in the ministerial curriculum voted on by Parliament when confidence was granted to his government." “.

Cougar continues, "I have reviewed the ministerial curriculum completely and in all its paragraphs, and I have not found anything in it that directly or indirectly indicates a change in the dollar exchange rate."

And he added, "One of the journalists asked Al-Sudani a clear question about the possibility of changing the exchange rate, and the government's adoption of this approach, and the answer came that this is the exclusive prerogative of the Central Bank, and the government has nothing to do with it."

He explained, "The Central Bank has previously confirmed the inability to change the exchange rate at least during the next year, and therefore all statements issued in this regard at the present time have no effect."

Cougar concluded, “The price of a barrel of oil in the budget is expected to be between 70 to 80 dollars, and we suggest it to be 75 dollars. Saudi Arabia estimated the price at 76 dollars, while the UAE estimated it at 69 dollars.”

The government financial advisor, Mazhar Muhammad Salih, had previously spoken about the option of “a gradual increase in the value of the dinar.” Saleh said, "Any future adjustment of the dinar exchange rate must be implemented gradually and over a period of time that takes more than a year, in order to provide an appropriate atmosphere for the financial adjustment."

For her part, the head of the committee, Mahasin Hamdoun, stated that “Parliament is still waiting for the draft budget law to be returned, and it is not possible to talk about its details at the present time, as this is within the competence of the government.”

Hamdoun continued, "The government confirmed its intention to speed up the passage of the law, and we will have two powers, either reducing the amounts or transferring between the doors."

She pointed out, "The draft should include paragraphs that talk about the appointment of contract holders who have been working for more than two years."

Hamdoun stressed, "its previous position that the project should not include a specific number for the price of a barrel of oil, which is set in dollars, because the amounts are in Iraqi dinars, and setting the price of oil may lead us to a deficit."   LINK

Parliamentary Finance Reveals To / Nina / Some Details Of The Budget And The Date Of Its Approval

Monday 14 November 2022 09:11 | Economic Number of readings: 567   Baghdad / NINA / - The Parliamentary Finance Committee revealed some details of the state's general budget for the next year 2023 and the date of its approval in the House of Representatives.

Member of the committee, Representative Jamal Cougar, said in an exclusive statement to the National Iraqi News Agency / NINA /: "The state budget for the year 2023 will be in the range of 120 to 130 billion dollars, with the dollar exchange rate remaining unchanged."

He pointed out: “The price of a barrel of oil, on the basis of which the budget was calculated, is about 75 dollars per barrel, which is close to the price of a barrel in the Saudi budget, which was set at 76 dollars,” noting: “The deletion and creation will provide more than 50 thousand job positions in The budget,

and Cougar suggested approving the budget at the end of next month or the beginning of the next year, without disagreements over it.     https://ninanews.com/Website/News/Details?key=1013862

The Dollar Exchange Rate Continues To Rise In The Iraqi Market

Economie| 10:09 - 14/11/2022   Baghdad - Mawazine News, the dollar exchange rates rose, today, Monday, on the Iraqi Stock Exchange.   The selling prices of the dollar were 148,100 dinars per 100 dollars, while the purchase prices of the dollar were 148,000 dinars per 100 dollars. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=211205

Al-Sudani And Al-Mandlawi Stress The Need To Expedite The Presentation Of The Budget Law

Political | 04:24 - 14/11/2022  Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani and First Deputy Speaker of Parliament Mohsen Al-Mandalawi stressed, on Monday, the need to expedite the presentation of the budget law.

Al-Mandalawi's office said in a statement received by Mawazine News, that "the latter headed a parliamentary delegation that includes members of the Independent Iraq Alliance to meet with Prime Minister Muhammad Shia al-Sudani at the government headquarters, during which it was emphasized the need to strengthen coordination between the legislative and executive authorities to approve laws.

The important role that affects the lives of citizens and the economy of the country and the activation of broken laws, as well as giving the authorities and regulatory agencies a greater role to carry out their responsibilities in preserving public money and reducing corruption.”

The participants stressed, according to the statement, "the need to expedite the submission and approval of the draft general budget law, and to rely on scientific competencies in managing the joints of the state to provide tangible results on the ground, achieve economic development and create new job opportunities, in addition to supporting the industrial and agricultural sectors and encouraging investment to activate the private sector." https://www.mawazin.net/Details.aspx?jimare=211240

Oil Prices Rise And Gains Continue

Economie| 08:33 - 14/11/2022   Follow-up - Mawazine News  : Oil prices rose on Monday, extending gains from the previous session, as China eased some of its strict protocols on the Corona virus, which boosted hopes for a recovery in economic activity and demand in the world's largest crude importer.

Brent crude futures rose 30 cents, or 0.31 percent, to $96.29 a barrel by 04:20 GMT, after settling at 1.1 percent on Friday.

US West Texas Intermediate crude futures were at $89.14 a barrel, up 22 cents, or 0.25%, after closing Friday's session 2.9% higher. Ended 29/N33   https://www.mawazin.net/Details.aspx?jimare=211195

Activities Of The Iraqi British Business Council.. Trade: Baghdad Seeks To Increase The Volume Of Trade Exchange With London

Economie| 02:18 - 14/11/2022   Baghdad - Mawazine News, Dubai hosted the activities of the Iraqi-British Business Council (IBBC) under the title "Together We Build Iraq", in the presence of the representative of the British Prime Minister in Iraq Baroness Emma Nicholson, the Governor of the Central Bank of Iraq Mustafa Ghaleb Mokhief, the British Ambassador to Iraq Mark Yarson, Minister of The State of UAE Foreign Trade Affairs Tahani bin Ahmed.

In a speech during the conference, Adel Khudhair Al-Masoudi, Director General of the Foreign Economic Relations Department at the Ministry of Commerce, said, "I am pleased to accept the invitation to participate in the activities of the Iraqi-British Business Council (IBBC) conference in Dubai under the title "Together we build Iraq", which serves as a platform Presenting visions of the Iraqi economy and how to invest the efforts made and the achievements made by the Iraqi state, and studying investment and growth opportunities in the various sectors of the state and the private sector, which is today more than ever one of the main pillars of the national, regional and international economies and must play its full role in all economic and commercial activities. .

He pointed to "the importance of the historic and renewed Iraqi-British relations, which contributed to consolidating the bonds of cooperation and support, and the role of the United Kingdom in supporting and supporting Iraq at various political and economic levels, and supporting it in all international and regional forums."

He added, "In light of the formation of the new Iraqi government at the beginning of last October, it set among its priorities the reform of the economy, support for the private sector and improvement of the business environment, and expressed its seriousness in strengthening international relations at all levels, and this coincided with the formation of the British government in its new era headed by Sunak, hoping That this creates other prospects for cooperation between the two countries."

He added, "Iraq seeks to create real partnerships between the Iraqi and British private sectors and work to increase the volume of trade exchange between the two countries, and that the Iraqi Ministry of Trade appreciates the interest of British companies through the Council (IBBC) in commercial opportunities in Iraq, including trade, agriculture, food processing and distribution."

Al Masoudi concluded his speech by saying: "I am pleased to extend my sincere thanks and appreciation to the government and people of the UAE for hosting this global event, and thanks to the organizers of this conference. . Ended 29/N33   https://www.mawazin.net/Details.aspx?jimare=211230

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

"Tidbits From TNT" Monday Morning 11-14-2022

TNT:

Tishwash:  A protest demonstration in front of the Central Bank of Iraq because of a private bank that declared bankruptcy

A number of citizens demonstrated in front of the Central Bank of Iraq, on Monday, to demand their money deposited with a private bank that declared bankruptcy.

"We deposited millions of dinars in Warka Bank before declaring its bankruptcy and did not pay it to us even after placing it under guardianship," Muhammad Salam, one of the citizens deposited in Al-Warka National Bank, told Shafaq News Agency.

And he indicated that "the Central Bank promised us to return these funds, and more than 11 years have passed, and nothing has been returned to depositors."

He added that "all the banks that were placed under guardianship, such as (Dar al-Salaam) and (the economy) have paid the dues of their customers, but the central bank did not solve our problem with the Warka Bank, which was liquidated."

For his part, Abu Yassin told Shafaq News Agency, "Our money was stolen despite repeated promises by the Central Bank to liquidate the accounts of Warka Bank customers."

He explained, "All my savings were put in this bank and were stolen after declaring bankruptcy and placing it under guardianship."

He pointed out that "the central bank is responsible for these banks and how they work, and therefore it is incumbent on him to return our rights in full without procrastination or procrastination."

And set up the guardianship committee formed by the Central Bank of Iraq to audit the accounts of the Warka Bank, which was to distribute the financial returns obtained from the bank’s debts to the owners of small deposits and each according to his deposit, indicating that there are ten thousand citizens of the owners of small deposits.

Article 67 of the Banking Law stipulates that the Central Bank of Iraq shall establish and license a temporary bank based on Article 67 and provide it with capital by the state to obtain all or part of the assets and liabilities of the bank subject to rehabilitation.   link

************

Tishwash:  The United Nations identifies six pillars to reduce poverty rates in Iraq

The United Nations Population Fund has identified six pillars to reduce poverty rates in Iraq during the next stage.

Fund adviser Muhadhab Al-Alaq said in a statement to "Al-Sabah": "The poverty rate in Iraq in 2007 amounted to 23 percent, based on accurate and supported studies from the World Bank, and then decreased after five years to reach 19 percent."

He added, "It was hoped during 2014 and 2015 that it would decrease to 16 percent, but the occupation of lands by ISIS terrorist gangs and the significant drop in oil prices during that period caused the percentage to increase."

 He continued, "The latest available estimates for 2019 indicate that the poverty rate is 20 percent," noting that "there is tireless work by the Central Statistical Organization in the Ministry of Planning to implement a new survey of the economic and social characteristics of the Iraqi family (SAS) which will be able to build a poverty line. New for Iraq during the year 2023.

 Al-Alaq revealed that "the report is supposed to start work at the beginning of next year and continue for 12 continuous months," warning of the "necessity to improve the conditions of education, health, social protection, housing and the environment and reduce disparity between males and females, and all of these need great development efforts and whenever these are improved." pillars, the poverty rate will decrease in Iraq    link

************

CandyKisses:  Political analyst: The success of the Sudanese government depends on the success of the Integrity Commission in combating corruption

The political analyst, Ghaleb Al-Daami, linked the success of the government of Muhammad Shia Al-Sudani to the Integrity Commission's efforts to combat corruption.

 Al-Dami said; For the “Unannounced” program, broadcast by Al-Furat TV channel this evening, that: “Hayat Al-Integrity does not work within jurisprudence, but rather within laws, and its duty is to investigate, investigate and follow up on news in cooperation with Al-Ittihad. The political will in Iraq does not want to vote on any president of the Commission of Integrity until he submits to blackmail and pressure."

Al-Daami continued, "The Commission cannot carry out the arrest without a judicial order, and Al-Saadi was dismissed at his request. The Prime Minister praised the efforts of the Commission and its statement carries indications of the existence of political pressures. Haider Hanoun, the new commissioner to head the Commission of Integrity, has not started yet, and the websites began accusing him of corruption." 

 He pointed out, "3 points support the authority's measures in combating corruption, which are the authority's management, voting on it, the parliament's support, the prime minister and the political class, and the integrity committee will not succeed without the support and political will and voting on it in Parliament."

Al-Daami continued, "Dozens of the second-class parties were condemned, and the general amnesty that was issued and the previous one that will be issued will zero the corruption file in Iraq, and in front of this zeroing, what will the government do, and the success of the Sudanese government depends on the success of the Integrity Commission in combating corruption." 

He noted that "the duty of the Integrity Commission to combat corruption does not exceed 20%, and it has exceeded that and is subjected to distortion to lose its credibility in integrity."

Al-Daami concluded by saying, "Recovering the money will be through investigation and follow-up from the Integrity Commission, and many of them have been recovered, and they need a political stance to recover the money smuggled abroad, and it is difficult to recover the money of the theft of the century." 

Mot: ..... She Asked! - ""What is Love!!???"" ~~~

Mot:  .... Soooo Wise Beyond His Years!! ~~~~

Iraqi News Highlights Sunday Evening 11-13-22

Iraqi News Highlights Sunday Evening 11-13-22

Tlm724 Administrator Bondlady’s Corner

An Expert Explains The Important Files That The Sudanese Seeks To Add In The 2023 Budget

Today 19:02   Information/ private.   Economist Nabil Jabbar explained, on Sunday, the important files that the Sudanese government of Mohammed Shia seeks to add in the 2023 budget, while he stressed that  the Sudanese are trying to gradually move to balancing "programs and performance".

"The Sudanese government is seeking to add the National Development Fund in the next budget for 2023 by deducting part of the oil revenues in favor of this fund, which is expected to be about 5 billion dollars or 5 trillion dinars, "Jabbar told The Information Agency.

He added that "what distinguishes this fund is its removal from the hands of state institutions and government ministries, and

it is a tool for financing the private sector to implement development projects instead of external borrowing," noting that

"the Sudanese are trying to focus on the implementation of referred projects, especially those projects whose completion rate has reached 70% or more.  The Economist explained that

"the prime minister is trying to gradually move to balancing (programs and performance) as an alternative to the previous method of preparing budgets," considering

"talking about the immediate transition to balancing programs is unrealistic".

The deputy of the state of Law coalition bloc, Mohammed Al-Shammari, called on Sunday, the government to the need to complete the 2023 budget and submit it to Parliament this month, indicating that

the approval of the budget by the end of this year will contribute to organizing the work of the government platform at the Times set by the Sudanese.

https://almaalomah.me/news/politics/خبير-يوضح-الملفات-المهمة-التي-يسعى-السوداني-لإضافتها-في-مواز

Expert: Nuclear Reactors Cost Iraq 40 Billion Dollars And The Money Will Be Restored Within 4 Years

Today 12:03  Nuclear reactors  Information / Baghdad..  The national expert in the field of energy and emissions control Kamal Hussein Latif said on Sunday that the cost of building nuclear reactors that can provide Iraq with 10 kW is about 40 billion dollars, stressing that Iraq can recover this amount within four years.

Latif said in a statement that

"Iraq's need for electric energy will reach in 2030 about 62 kW, distributed by 24% by gas at single cycle stations, 58% by Combined Cycle stations, 11% by heavy oil and crude oil stations, and 7% of it by renewable energy according to the plan".

He added that  "the annual losses that Iraq will incur in that year and beyond from oil and gas consumption to electricity production exclusively in single cycle plants with a thermal conversion efficiency ranging from ( 29.4-44.8)%, whose production capacity will be about 10 gigawatts, will consume annually about 192.857 *1011 cubic feet,

and assuming the standard cubic foot price remains about 3 cents, this means that we will spend 5.78 billion dollars annually, which is 20 percent of the current national income and about 12% of the national income expected for 2030,

but for combined cycle plants with a conversion efficiency of 65%, as is known, the production capacity for the need will be about 24.36 kW, which will consume annually 1011*328.297 Cubic foot and with the same imposition of the standard cubic foot price, we must spend at that time 9.848 billion dollars a year,

that is, our gas spending will amount to about 15.6 billion dollars a year only in the combined cycle, and

a simple closer look shows that we consume more than 30 percent of national income only on electricity production plants," he said.

He continued that  "for heavy and crude oil stations that operate with a heat conversion efficiency between (25.5-33.3)%, Iraq in 2030 will need an estimated 4.62 kW according to the plan that every 1 kWh of those stations consume 1160 barrels and during the year and for maximum heat conversion efficiency,

we will need 305.153 million barrels of oil at an average price of say 60 dollars at prices close to today's prices, we will spend 18.3 billion dollars annually".

Latif said that  "countries that spend this amount of money to produce electricity should review their accounts, as  it is supposed to be no more than 5% of their national income,

while Iraq will spend 19.8% of national income,

which is a huge figure in the accounts of countries that are considering their strategic plans in the field of energy and arrange their spending for Sustainable Development and individual well-being.  The national expert pointed to

"some solutions in this area, including the use of nuclear reactors with nuclear power,

which can provide 25% of the energy needs, which covers about 10 kW of the required percentage, pointing out that

the total price of those reactors with this capacity will be up to 40 billion dollars and with the first operation during the first year we will save a total of 8.5 billion dollars of annual electricity spending,

without calculating the carbon yield, which can prevent the emission of 355 million tons per year, which is expected to reach 100 dollars(according to World Bank forecasts by 2030), and

thus we can achieve carbon returns of up to 3.55 billion dollars annually with our achievement The Paris Agreement is more than the voluntary contribution made by Iraq.

That is, we will get a reduction in spending with carbon dividends worth up to 12.0 billion dollars a year, that is,

in four years we will recover all the money spent on reactors, which cannot be achieved in any clean energy source other than nuclear energy," he said.

https://almaalomah.me/news/economy/خبير:-المفاعلات-النووية-تكلف-العراق-40-مليار-دولار-والاموال

Economist Stresses Supporting The Private Sector Instead Of Burdening The Operational Budget With Appointments

Today 08:57  Information / Baghdad... Economist Bassem Jamil Antoine stressed the need to support the private sector to absorb the number of unemployed and operate factories to enrich the country with goods and goods instead of going to import,

pointing out that the continued launch of appointments will burden the operational budget after it reached 75 percent of the country's budget.

Antoine told Al-maalouma that  "successive governments often get into problems where there is a surplus in the number of state employees by 70 percent after their number exceeded 4 million and 500 thousand employees who do not provide the GDP with anything significant".

"The government should transfer the recruitment process from the government sector to the private sector with granting soft loans, as well as paying attention to small enterprises and the operation of factories and factories to accommodate the numbers of unemployed, which exceed 3 million people," he added.

"The operating budget exceeds 75 percent of the country's budget, while the investment budget has about 10 percent, and the rest goes to other doors," he said.  He pointed out that

"the Great Return of oil can be properly invested by

reviving the private sector and

providing jobs in this sector to end the problem of unemployment,

operate factories,

enrich the country with various goods and materials imported from abroad, as well as

keeping young people away from the phenomenon of drugs and other negative phenomena".

https://almaalomah.me/news/economy/اقتصادي-يشدد-على-دعم-القطاع-الخاص-بدلا-من-إثقال-الموازنة-الت

The Presidents Of The Republic And The Ministers Stress The Fight Against Corruption And Visits To The Governorates

The Presidents of the Republic, Abdul Latif Jamal Rashid and the Council of Ministers, Muhammad Shiaa Al-Sudani, discussed the results of Iraq's participation in the Algiers and Sharm El-Sheikh summits and other important issues, while they stressed the fight against corruption and visits to the governorates.

A statement by the Presidency of the Republic stated that "President of the Republic, Abdul Latif Jamal Rashid, received at the Peace Palace in Baghdad, Prime Minister Muhammad Shia Al-Sudani, and at the beginning of the meeting, the President of the Republic reviewed the results of his participation in the Arab Summit held in Algeria and the United Nations Climate Summit held in Sharm El-Sheikh, Egypt, where they talked about the outcomes of the two summits and the results of the meetings that took place between the President of the Republic and leaders of brotherly and friendly countries and heads of participating delegations.

He added, "A number of issues related to the general situation in the country were also discussed, and it was emphasized the need for everyone to support the government's steps within its service program, which would advance the economic situation and in a way that would achieve the aspirations of all the people for a free and dignified life,"

noting that "it was conducted Emphasizing the importance of combating corruption and creating a suitable environment for investment that would encourage the private sector to play its role in supporting the national economy and creating job opportunities to employ young energies.

The statement indicated that "the President of the Republic and the Prime Minister discussed the issue of water, and agreed to fully coordinate in finding appropriate solutions and to continue holding meetings on a regular basis, and the President of the Republic to conduct field visits to the concerned governorates, accompanied by a number of ministers."

https://www.radionawa.com/all-detail.aspx?jimare=32122

Al-Sudani Discusses The Prospects For The Private Sector's Work With A Number Of Iraqi Businessmen

Sunday 13 November 2022 10:52 | Economic Number of readings: 335   Baghdad / NINA / - Prime Minister Muhammad Shia Al-Sudani discussed with a number of businessmen, investors and entrepreneurs in the private sector the national economic reality.

During the meeting, according to a statement by Al-Sudani's office, they discussed the national economic reality, the prospects for the work of the private sector and its contribution to expanding employment and development opportunities, and the most important obstacles and challenges facing it.

Al-Sudani revealed, in a speech during the meeting, the government's intention to end wrong practices that represent an obstacle to the development of this vital economic sector, calling for private sector projects to be consistent with the nature of economic challenges and the needs faced by citizens.

Al-Sudani expressed his conviction that the state's economic paths cannot be corrected unless the private sector is an essential partner in this correction and reform.

He stressed that the opportunity will be available and supported by the government to enter into a constructive partnership with this national sector, which is highly relied upon to reduce unemployment and provide sustainable national development that contributes to ensuring stability and social peace, stressing that projects will be subject to fair competition on the basis of the principle of equal opportunities and far from About monopoly./   https://ninanews.com/Website/News/Details?key=1013684

Members Of The Kurdistan Parliament Refuse To Receive Their Pensions

Saturday 12 November 2022 20:14 | political Number of readings: 581  Baghdad / NINA / - A group of representatives of the "New Generation" movement in the parliament of the Kurdistan region announced their refusal to receive their salaries and pension benefits.

The deputies said, in a joint press statement today, Saturday, "We are the deputies of the "new generation", and from the moment the region's parliament was extended illegally, we refused to be in an illegal parliament, and we refused to receive salaries because it is not permissible. Therefore, we closed our bank account and we will not take a single penny; In fulfillment of the pledge we made to our public before we entered Parliament, that we will not receive the pension either.” / End

https://ninanews.com/Website/News/Details?Key=1013608

The Appearance Of Muhammad Salih To / Nina / Development Fund .. Will Increase The Contribution Of The Private Sector To The Domestic Product By A Large Percentage

Sunday 13 November 2022 11:26 | Economic Number of readings: 433   Baghdad / NINA / - The financial expert, advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the Development Fund will raise the private sector's contribution to the domestic product by a large percentage.

He told the National Iraqi News Agency / NINA / that an important aspect of the financial abundance likely to be achieved at the end of the 2022 fiscal year will undoubtedly be directed to be a basis for supporting the capital accumulation in the productive assets in the country.

Saleh added: This surplus will be allocated in an important aspect to be the financial leverage for the establishment of the Development Fund announced by the Prime Minister a few days ago, which will undoubtedly contribute to financing the important productive activities of the private sector and support its contributions to economic development in a way that enhances the degree of diversification of the country's economy, especially encouraging the contribution of agricultural activities And industrial, construction and private housing sectors in the gross domestic product./End 3

https://ninanews.com/Website/News/Details?Key=1013677

Cabinet Votes On A Bill To Support Small Businesses

Sunday, 13 November 2022 3:49 PM  Baghdad/National News Center  The Cabinet voted on the first amendment bill to the Small Business Support Law.

The General Secretariat of the Council of Ministers said in a statement received by the National News Center: “The Council of Ministers decided to approve the draft law of the first amendment to the Law to Support Small Income-Generating Enterprises, No. (10 of 2012), which was audited by the State Council, and referred to the House of Representatives, based on the to the provisions of Articles (61/ Clause First, and 80/ Clause Second of the Constitution).”

She added that "the decision came to support and assign the capital of the Fund to Support Small Income-Generating Projects, prevent violating the law, the instructions and controls issued under it, and quickly recover the installments due for the purpose of including new numbers of borrowers, which contributes to encouraging the private sector."

And she continued, "The decision was taken during the third regular session of the Council of Ministers, held on November 8, 2022."     https://nnciraq.com/164260/

To read more current and reliable Iraqi news please visit BondLady’s Corner:

 https://www.bondladyscorner.com/

MilitiaMan Sunday Evening "I Like Where This is Headed" 11-13-2022

KTFA:

Mazhar Muhammad Salih - The Development Fund .. It will increase the contribution of the private sector to the GDP by a large percentage

13th November, 2022

The financial expert, Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed "the Development Fund will raise the private sector's contribution to the GDP by a large percentage."

He told the National Iraqi News Agency that an important aspect of the financial abundance that is likely to be achieved at the end of the fiscal year 2022 will undoubtedly be directed to be a basis for supporting capital accumulation in the productive assets in the country.

Saleh added "this surplus will be allocated in an important aspect to be the financial leverage for establishing the development fund that the Prime Minister announced a few days ago, which will undoubtedly contribute to financing the important productive activities of the private sector and supporting its contributions to economic development in a way that enhances the degree of diversification of the country's economy, especially encouraging the contribution of agricultural activities, industrial, construction and private housing sectors in the gross domestic product."   LINK

~~~~~~~~~~~

Next week.. discussions in Baghdad to determine Kurdistan's share of the 2023 budget

The delegation consists of: the Minister of Finance and Economy, the Acting Minister of Natural Resources, the Chief of the Cabinet Office, the Cabinet Secretary, the Head of the Coordination and Follow-up Department, and the spokesperson for the regional government.

The council recommended that the delegation begin discussions as soon as possible within the framework of constitutional rights and cabinet decisions on outstanding issues, with an emphasis on implementing the federal government's program and the political agreement that was voted on in the Iraqi parliament, according to a statement issued by the council.  LINK

~~~~~~~~~~~

A member of the framework reviews internal, regional and international files "concerning" the Sudanese government

In an interview with the official "Al-Sabah" newspaper, which was followed by Mawazine News, Al-Hilali indicated that "the Sudanese government is also working to develop Iraq's relations with the international community to benefit from global expertise and experiences in order to be an important and effective part of the international system."   LINK

~~~~~~~~~~

The program of the delegation's visit to Baghdad and the date of its arrival revealed

For his part, the Second Deputy Speaker of Parliament Shakhwan Abdullah revealed the arrival of the Kurdistan Regional Government delegation to Baghdad next week.   LINK

~~~~~~~~~~~

A European delegation visits Iraq to hold a parliamentary meeting in Baghdad

In turn, the Ambassador of Iraq stressed that the completion of the file of forming the new Iraqi government is a step in the right path, and an affirmation of the principle of peaceful transfer of power, noting that the priorities of the new government are to respect sovereignty and build balanced relations with regional and international actors, and to stay away from any axis of conflict, in addition to the government's primary mission to advance the economic reality by carrying out radical economic reforms and combating corruption. LINK
---------------------------------------------------------

 MilitiaMan:   The theme that is about the private sector is all over the place in the articles of late. The 2022 budget is still in the air as well as is the 2023 draft budget to be to Parliament as early as this week.

The Kurds have had nothing to any degree with the operational side of the 2022, however, they have an interest be sure in the 2022 Investment side of things. That is likely why they are talking so much about he HCL / Article 140.

They have already sorted the 2022, but, they yet to expose the numbers. That is likely because of the sensitive nature of the matter with respect to the numbers / terms of the agreement they already voted on.

It is noted that they are to arrive anytime this week. The converging of them arriving and the working relationships with the international community so as to benefit from the global expertise and experiences is to be and important and effective move for to be apart of the international system..

To do that would require an exchange rate so that everyone in the system would know what to expect in the next stage numbers wise.

The international community is as noted by the European delegation, the Japanese, the WB, IMF, etc, as all in support for the economic reality of Iraq to carry out their radical reforms and combating corruption.

All in line with what we expect to go international.. IMO, they are looking very good now and the timing of things couldn't be better.. imo.. I like where this is headed.. Imo ! ~ MM. 

Some "Sunday News" Posted by Samson at KTFA 11-13-2022

KTFA:

Samson:  A significant increase in Iraq's oil exports to America

13th November, 2022

Today, Sunday, the US Energy Information Administration announced a significant increase in Iraq's oil exports to America, reaching more than 500,000 barrels per day during the past week

The administration said in a report seen by "Al-Iqtisad News", that "the average US imports of crude oil during the past week from nine countries amounted to 5.503 million barrels per day, up by 38 thousand barrels per day from the previous week, which amounted to 5.465 million barrels per day

She added, "Iraq's oil exports to America amounted to an average of 503 thousand barrels per day last week, up from the previous week in which oil exports to America amounted to an average of 134 thousand barrels per day

She pointed out that "most of America's oil revenues during the past week came from Canada, at a rate of 3.235 million barrels per day, followed by Saudi Arabia at a rate of 519,000 barrels per day, and oil revenues from Mexico at a rate of 503,000 barrels per day, and then Colombia at a rate of 341,000 barrels per day

According to the administration, “the amount of US imports of crude oil from Brazil amounted to an average of 140,000 barrels per day, from Nigeria at a rate of 119,000 barrels per day, from Ecuador at a rate of 102,000 barrels per day, and from Libya at a rate of 41,000 barrels per day, while it did not import any amount of oil.”   LINK

************

Samson:  It costs 40 billion dollars, but the money will be recovered in 4 years... This is how nuclear reactors can be built in Iraq

13th November, 2022

An expert in the field of energy and emissions determination, Kamal Hussein Latif, specified that the cost of building nuclear reactors that can supply Iraq with 10 gigawatts is about $40 billion, stressing that Iraq can recover this amount within four years

Latif said in a post on his Facebook page that "Iraq's need for electric energy will reach about 62 gigawatts in 2030, distributed as 24% with gas in single-cycle stations, 58% in combined-cycle stations, 11% in heavy oil and crude oil stations, and 7% of it with energy." renewable according to plan

It is estimated that the annual losses that Iraq will incur in that year and beyond, from the consumption of oil and gas for the production of electricity exclusively in the single-cycle stations with a thermal conversion efficiency "ranging between (29.4-44.8)%, whose production capacity will be in the range of 10 gigawatts, which will annually consume about 192,857 * 1011 cubic feet. Assuming that the price of a standard cubic foot remains around 3 cents, this means that we will spend 5.78 billion dollars annually, which is 20 percent of the current national income and about 12 percent of the expected national income for the year 2030.

As for combined cycle stations with a conversion efficiency of 65 percent, as is known, the production capacity of the need It will be in the range of 24.36 kilowatts, which will be consumed annually 1011 * 328,297 cubic feet, and with the same imposition of the standard cubic foot price, we must spend at that time 9.848 billion dollars annually, meaning that our spending of gas will be approximately 15.6 billion dollars annually only in the combined cycle, and with a simple closer look, it becomes clear that we consume more than 30 percent of the national income only on electricity production plants

He added, "For heavy and crude oil stations that operate with thermal conversion efficiency of between (25.5-33.3) percent, Iraq in 2030 will need a value of 4.62 kilowatts, according to the drawn plan, that every 1 kilowatt hour of those stations consumes 1160 barrels and during the year, and for a maximum heat transfer efficiency, we will need 305.153 million barrels of oil, at an average price of 60 dollars, at prices close to today's prices, we will spend 18.3 billion dollars annually

And Latif indicated that "the countries that spend this amount of amounts to produce electricity must review their accounts, as it is assumed that it does not exceed 5% of its national income, while Iraq will spend 19.8% of the national income, which is a huge number in the accounts of countries that consider their strategic plans in the field of energy and arrange its spending for the sake of sustainable development and individual well-being

The national expert stressed that "some solutions in this field, including the use of nuclear reactors with nuclear energy, which can provide 25% of the energy needs, i.e. covers approximately 10 gigawatts of the required percentage," noting that "the total price of those reactors with this capacity will be around 40 billion Dollars

And with the first operation during the first year, we will save a total of $8.5 billion in annual spending on electricity, without calculating the carbon return, which can prevent the emission of 355 million tons annually, which is expected to reach $100 per ton (according to the World Bank’s forecasts for the year 2030), Thus, we can obtain carbon revenues of up to 3.55 billion dollars annually, with our achievement of the Paris Agreement, more than the voluntary contribution launched by Iraq

That is, "we will get a reduction in spending with carbon revenues of up to 12.0 billion dollars annually, meaning that within four years we will recover all the money spent on reactors, and this is what can not be achieved in any clean energy source other than nuclear energy   LINK

************

Samson:  An expert presents proposals to end financial and administrative corruption in Iraq

11/13/2022 12:40:03

 Legal expert Ali Al-Tamimi explained, on Sunday, that a supervisory body close to the ministries must be found to end financial and administrative corruption in Iraq.

Al-Tamimi, in a statement received by {Euphrates News} agency, "After dissolving the offices of the inspectors general by Law 24 of 2019, a monitoring body close to the ministries must be found, after the Federal Supreme Court, by its decision 112 of 2021, canceled the paragraphs related to public prosecution offices that came in Law 49 of 2017 in Article 5 thereof, paragraphs 12, 13, and 14 regarding the establishment of public prosecution offices in ministries. 

He continued, "The draft federal service law needs to provide for the creation of a special department to investigate crimes of financial and administrative corruption, and it may be linked to the Integrity Commission, and the Federal Service Council, according to Law 4 of 2009, can propose this and specify the number of individuals working in it and its duties." 

And he indicated, "The distribution of investigators who are law graduates in the above departments after they entered quick courses in the Judicial Institute, and the speed of resolving outstanding files in the ministries and reviewing them quickly and urgently, especially since these crimes do not fall under the statute of limitations." 

He noted that "crimes of financial and administrative corruption are considered terrorist crimes by a decision of the Judicial Council, as happened in the tribal bench," explaining that "ending the presence of transaction trackers in the ministries because they are a dangerous part of the financial and administrative corruption system."  

The statement concluded with the "rehabilitation of employees with introductory courses on the punishment of bribery and embezzlement, as well as the State Employees Discipline Law 14 of 1991, and a major media campaign through clerics and the media to educate on this dangerous issue."  LINK

**

Al-Sudani and the President of the Republic stress the importance of combating corruption and creating a suitable environment for investment

13th November, 2022

The President of the Republic, Abdul Latif Jamal Rashid, and the Council of Ministers, Muhammad Shia'a Al-Sudani, discussed, on Saturday 11/12/2022, the results of Iraq's participation in the Algiers and Sharm el-Sheikh summits, and other important issues, while they emphasized combating corruption and conducting visits to the provinces.

A statement by the Presidency of the Republic, which was received by Al-Masalla, stated that the President of the Republic, Abdul Latif Jamal Rashid, received, at the Peace Palace in Baghdad, the Prime Minister, Muhammad Shia’a Al-Sudani, and at the outset of the meeting, the President of the Republic reviewed the results of his participation in the Arab Summit held in Algeria and the United Nations Climate Summit that was held in Sharm El-Sheikh, Egypt, where they talked about the outcomes of the two summits and the results of the meetings that took place between His Excellency the President of the Republic, leaders of brotherly and friendly countries, and heads of participating delegations.

He added: A number of issues related to the general situation in the country were discussed, and it was stressed the need for everyone to support the government's steps within its service program, which would improve the economic situation and achieve the aspirations of all the people for a free and dignified life.

He added that the importance of combating corruption and creating a suitable environment for investment was emphasized that would encourage the private sector to play its role in supporting the national economy and creating job opportunities to employ youth energies.

The statement indicated that the President of the Republic and the Prime Minister discussed the water issue, and agreed to fully coordinate in finding appropriate solutions and to continue holding meetings on a regular basis, and the President of the Republic to conduct field visits to the concerned governorates, accompanied by a number of ministers.  LINK

Samson:  Al-Sudani: The Development Fund will eliminate corruption and provide tens of thousands of job opportunities

12th November, 2022

Prime Minister Muhammad Shia al-Sudani affirmed, on Saturday, that the recovery of looted Iraqi funds is an essential item in our relations with friendly countries

And the media office of the Prime Minister conveyed in a statement, the most important thing that Al-Sudani spoke during his meeting with a number of political analysts, that "we have established in the budget law the establishment of the Iraqi Development Fund, and it will be funded by deducting a percentage of oil revenues, and from it specialized funds for housing, education, health and others will branch out

Al-Sudani added, "This fund represents a new idea in amending state administration systems, based on activating the private sector and developing capital, and it will eliminate corruption, and provide tens of thousands of job opportunities," noting: "We have included all groups in the Social Security Law, and it encourages Working in the private sector instead of waiting for government appointment, and it includes all categories and all private businesses, no matter how small

He continued, "People's optimism is a great additional responsibility, and our approach is not perfect, but works according to data, and work depends on political stability," stressing: "We will enter into the prohibited files in order to confront corruption, and we will start first with reforming the institutions concerned with combating corruption

And he added, "We will address express services, because the root of the problem is the citizen's loss of confidence in the service apparatus or the political system," adding, "We have reached global rates of teachers' availability to schools, but poor distribution hinders the service of the educational process

He continued, "What concerns us is the next stage, some say that it is the government of the last chance, and in fact there are challenges and there is the ability to succeed.

Accurate diagnosis of problems exists and opportunities are at hand," noting that "I must recall the heavy legacy, and know all its details and at all levels." Every day, I meet civil and security officials, who I find seeking help from accumulated big problems. He pointed out that "there are problems that the governors suffer from, they have not been heard of before, and they work alone without a provincial council, and most of their problems are related to routine procedures with the ministries

He stressed that "the challenges are clear to us, and in light of them we designed the ministerial curriculum. We have a time limit for each path of one, two or three years. The criterion is how to succeed and make a difference at the service and livelihood level," adding: "If we agreed that the constitution is always the cover, The problems between Baghdad and Erbil all have a solution, and I spoke about this matter directly to the officials in the Kurdistan region of Iraq

And he indicated that "no one can ignore poverty, and this class needs direct treatments, and it cannot wait for reforms and long-term plans. These people must stop everything in order to address their conditions and alleviate their living suffering

And he added, "The engineering effort team has begun implementing service projects in neighborhoods in three regions in Baghdad, and the works that are being carried out there are not patchwork, but rather according to the required specifications, and the same projects will be implemented in other tired neighborhoods in the governorates," pointing out that "we have more than 1450 projects that are lagging, causing he left it by costing Iraq huge amounts of money, and I focused on these projects, some of which last for more than ten years   LINK

***************

Samson:  Integrity: The former governor of Salahuddin received bribes worth 4 billion dinars and 1.5 million dollars

13th November, 2022

On Sunday, the Federal Integrity Commission clarified the details of the ruling issued against the former governor of Salah al-Din, indicating that it came as a result of his receipt of nearly (7) billion dinars. For referral of projects to specific companies

The commission said in a statement, “The Commission’s Investigation Department, speaking of the absentee verdict issued by the Central Anti-Corruption Criminal Court, indicated that the former governor of Salah al-Din received sums of money in exchange for referring projects to maintain companies applying for work, indicating that the convict He received from it an amount of (4,600,000,000) billion Iraqi dinars, and (1,500,000) million US dollars, in addition to his request for (Range Rover) and (Lexus) cars

The statement added, "The convict received the aforementioned amounts in exchange for referring the projects implemented within the governorate with direct invitations, and the release of the financial dues owed by the governorate to the companies

And the commission continued, “The Central Criminal Court against Corruption, after reviewing the evidence obtained in this case, found it sufficient and convincing to convict the accused, so it decided to sentence him in absentia to ten years in prison, and to impose a fine of (10,00,000) million dinars,” pointing out to that "the ruling was issued in accordance with the provisions of Resolution (160 of 1983)

It is worth noting that the commission announced on the third of last April the issuance of a recruitment order against the governor of Salah al-Din. On the background of his accusation of blackmailing a contractor, and taking sums of money and wheels from him; In return for releasing his financial dues for the projects he implemented in the governorate, in addition to other projects and dues   LINK