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Friday Morning Iraq Economic News Highlights 3-17-23

Central Bank Governor Warns Of "A Very Dangerous Phenomenon That Threatens Monetary Stability"

Economy| 11:04 - 03/16/2023 Baghdad - Mawazine News, Governor of the Central Bank of Iraq, Ali Al-Alaq, considered, on Thursday, relying on the central bank to cover the general budget deficit, as "a very dangerous phenomenon that threatens monetary stability" in Iraq. Al-Alaq said in a speech during the Sulaymaniyah Forum, "Monetary policy includes two main goals: maintaining the general level of prices, that is, the strength of the currency locally, and the exchange rate, which represents the strength of the currency externally."

Central Bank Governor Warns Of "A Very Dangerous Phenomenon That Threatens Monetary Stability"

https://www.mawazin.net/Details.aspx?jimare=222043

Saleh's Appearance: The 2023 Budget Is Flexible And Unrestricted, Allowing Governorates To Spend Investment

March 17, 2023 Baghdad / Obelisk: The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced, on Friday, the fate of the sums allocated to the governorates that were not disbursed.

Saleh said, "The rotation of the amounts allocated to the governorates for the purposes of investment spending, which could not be disbursed during the fiscal year, was included in the draft federal budget law for the year 2023, which is a flexible and unrestricted mechanism that allows the governorates to conduct financial actions within their annual allocations related to investment spending on projects."

He added, "The Financial Management Law in force No. 6 of 2019, amended in 2020, has taken the issue of allocated unspent financial allocations to the governorates by preserving their rights in allocation in order to sustain spending on investment projects without delay or delay."

And the Prime Minister, Muhammad Shia’ al-Sudani, said, last Monday, in a press conference, “In this budget, we gave the governorates the right to rotate the allocated amounts,” stressing, “The priorities of the government program will be present in the 2023 budget, and the budget for three years supports financial stability.” https://almasalah.com/archives/47038

The Government Delivers The Three-Year Budget To Parliament

Time: 03/17/2023 11:42:18 Read: 1,209 times {Economic: Al Furat News} The government spokesman, Basem Al-Awadi, announced the handing over of the financial budgets for the years 2023, 2024, and 2025 to the House of Representatives.

Al-Awadi said in a statement, which {Euphrates News} received a copy of, that "and in implementation of the provisions of the constitution and the federal financial management law, yesterday evening, Thursday, the draft federal budget law of the Republic of Iraq for the fiscal years 2023, 2024, 2025 was officially handed over to the House of Representatives." .

And he stressed, "The draft budget law, with its new articles and paragraphs that were approved for the first time, is capable of facilitating the implementation of executive and development projects, plans and programs, and the provision of infrastructure and services for citizens." LINK

Parliamentary Oil: The Drop In Oil Is Emergency And There Is No Risk In The Budget Price

Time: 03/16/2023 13:52:38 Read: 2,080 times {Economic: Al Furat News} The Parliamentary Oil, Gas and Natural Resources Committee considered the drop in oil prices in global markets to $74 a barrel as an "emergency decline."

Committee member Adnan Al-Jabri told {Euphrates News} agency: "The adoption of a price of 70 dollars per barrel of oil cannot be called a risk, but it is a price that has a kind of justice, given that previous years witnessed the adoption of 45 dollars per barrel, while oil prices exceeded 110 dollars."

He added, "There are no major concerns about the decline in oil prices, as it is emergency and non-continuous."

Al-Jabri expected, "There will be an opinion of the relevant parliamentary committees towards reducing the price of oil that is fixed in the budget, and it will be in the presence of the government representative."

And crude oil prices fell yesterday, Wednesday, to their lowest levels since December 2021, after falling for three consecutive days.

Brent has lost nearly 10% since Friday's close, while US crude has fallen about 11%, according to Reuters.

But today, it returned to the rise in early Asian trading today, Thursday, to compensate for some of its losses, after it recorded its lowest level in more than a year in the previous session, as the markets calmed down somewhat after the decision of the Swiss regulators to provide a financial rescue to the Credit Suisse bank. Raghad Daham LINK

Oil Expert: The West Has Started A War On Oil Prices, And The Default Price In The Iraqi Budget Is Disappointing

Oil expert, Hamza Al-Jawahiry, confirmed on Thursday that the West has started a war on oil prices, indicating that the hypothetical price of oil that was put in the budget is disappointing.

Al-Jawahiri said in a press interview seen by “Takadam” that “the collapse of oil prices so quickly, which the West spoke of, came after the collapse of some banks in America and another in Europe. It is, in fact, a war against oil and prices in the world,” noting that “the days have proven that The economies of the West cannot stand without cheap oil prices at less than $60.”

And he continued, “The West’s endeavor to reduce oil prices is not a condition, but rather a goal for these countries, and this matter is the beginning of this strong attack on oil prices and OPEC, despite the reassurances of OPEC and despite the recovery of the Chinese economy, but the issue is related to the West’s economy in general, which cannot resist prices higher than 60.” a dollar.”

Al-Jawahiry pointed out that “the budget was disappointing when it set the default price of oil at $70, while today we sell our oil for less than that, let alone if Europe and America succeed in bringing prices to $60 and less,” pointing out that “this matter will greatly affect On Iraq, especially because there is about 34 percent of the budget deficit after the operating budget has greatly inflated, while the investment budget has diminished, which has become less than a quarter.

Al-Jawahiri demanded that “the price of oil be in the budget not to exceed 50 dollars, and if it was 45 dollars, it would be much better and more secure, and the operational budget should be split in half or more because the latter is a fatal budget for Iraq, the economy and the future of Iraq, especially since it is for three years.”

He stressed, “The House of Representatives must rectify these issues before approving the budget and returning it to the government, and demands that it be streamlined and set a price of $50 for oil.”

He pointed out that “the development funds that the budget came with are nothing but a joke because the development funds are large financial institutions that have their own law and are not just a small paragraph placed in the budget for three years,” stressing that “these funds remain for future generations and special laws must be established for them.”

It works with it and behaves as it does in the West, which spends on development projects, because in this existing situation, which came in the budget in this way, it will be subject to corruption and theft from day one.”

It is noteworthy that oil prices fell significantly, to record Brent 74 dollars a barrel, and US crude less than 70 dollars, while Iraq put in Iraq's general budget the default price of a barrel for the budget of the current year 2023, the price of 70 dollars a barrel.

Iraq's economy is considered rentier, and the Iraqi state's continued dependence on oil as the sole source of the general budget puts Iraq in danger from global crises that occur from time to time due to the impact of oil on it, which makes Iraq tend every time to cover the deficit by borrowing from abroad or internally, and thus he refers to The inability to effectively manage state funds, and the inability to find alternative financing solutions.

On Monday (March 13), the Iraqi Council of Ministers approved the draft budget law for the years 2023, 2024, and 2025.

The total budget amounted to 197 trillion and 828 billion dinars, with operating expenses of 150 trillion and 293 billion dinars, and investment expenditures of 47 trillion and 555 billion dinars.

The fiscal deficit in the 2023 budget amounted to 63 trillion and 275 billion dinars.

The financial revenue for the budget amounted to 134 trillion and 553 billion dinars, of which oil revenues amounted to 117 trillion and 252 billion dinars, and non-oil revenues amounted to 17 trillion dinars.

The price of oil in the budget was estimated at $70, according to the export of 3 million barrels and 500 thousand per day, of which 400 barrels are from the Kurdistan region.

https://takadum-news.com/archives/154765

Advisor To The Prime Minister: The 2023 Budget Included A Flexible Mechanism Related To Governorate Allocations

political| 11:03 - 03/17/2023 Baghdad - Mawazine News, the Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced, on Friday, the fate of the sums allocated to the governorates that were not disbursed.

Saleh said, "The recycling of the amounts allocated to the governorates for the purposes of investment spending, which could not be disbursed during the fiscal year, has been included in the draft federal budget law for the year 2023, which is a flexible and unrestricted mechanism that allows the governorates to conduct financial actions within their annual allocations related to investment spending on projects."

He added, "The Financial Management Law in force No. 6 of 2019 and amended in 2020 took the issue of unspent allocated financial allocations to the governorates by preserving their rights in allocation in order to sustain spending on investment projects without delay or delay." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=222140

The Government Delivers The "Tripartite Budget" To The House Of Representatives

political| 11:41 - 03/17/2023 Baghdad - Mawazine News On Friday, the Iraqi government spokesman, Basem Al-Awadi, announced that the draft budget law had been handed over to Parliament.

Al-Awadi said in a statement, which Mawazine News received a copy of, that "in implementation of the provisions of the constitution and the federal financial management law, yesterday evening, Thursday, the draft federal budget law of the Republic of Iraq for the fiscal years 2023, 2024, 2025 was officially handed over to the House of Representatives." .

He added, "The draft budget law, with its new articles and paragraphs that were approved for the first time, is capable of facilitating the implementation of executive and development projects, plans and programs, and providing infrastructure and services for citizens." Ended 29 / H

https://www.mawazin.net/Details.aspx?jimare=222143

The US Senate Approves An Amendment To The Authorization For The Use Of Force Against Iraq Act

March 16, 2023 Baghdad / Obelisk: The US Senate (the upper chamber of Congress) approved an amendment to the Authorization for the Use of Military Force Act against Iraq.

And media outlets in Washington reported that the US Senate agreed to start the process of amending the Authorization for the Use of Military Force Against Iraq Act of 1991 and 2002.

The Senate made the decision with 67 senators voting in favor and 27 against. Nineteen Republican senators were among the supporters of the resolution. https://almasalah.com/archives/46997

Al-Rafidain Launches A New Batch Of Advances For Retirees: Up To 25 Million Dinars

Economy News – Baghdad Al-Rafidain Bank announced, on Thursday, the launch of the second batch of advances allocated to civil and military retirees through electronic payment tools.

The bank's media office said in a statement, "The pensioners' advances meal, which starts from 5 million to 25 million dinars, has been granted."

The statement indicated that "the disbursement of that advance was done by informing the retiree by sending him a text message notifying him of granting him the advance, after he completed all the procedures to grant it to him and disbursed it through the Master Card, to which the financial balance was filled," calling on "the retirees to review the bank's branches or outlets." exchange to receive the advance.

And the statement continued, "The bank continues to work on granting new meals from advances, successively, and according to schedules and timetables, for applicants through the electronic application of Al-Rafidain Bank." https://economy-news.net/content.php?id=32973

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Thursday Evening Iraq Economic News Highlights 3-16-23

Central Bank Governor: We Are Working With The Government To Make The Dinar The Main Currency In The Iraqi Market

Money and business Economy News-Baghdad On Thursday, the Governor of the Central Bank, Ali Mohsen Al-Alaq, set the objectives of monetary policy in Iraq, pointing out that he would take the necessary legal steps within the framework of the dinar being a major currency prevailing in the market in cooperation with the government. Al-Alaq said on the second day of the seventh Sulaymaniyah Forum, followed by "Al-Iqtisad News", that "the monetary policy includes two basic goals," noting that "one of these goals is to maintain the general level of prices, that is, the strength of the currency locally and the exchange rate, which represents the strength of the currency externally."

Thursday Evening Iraq Economic News Highlights 3-16-23

Central Bank Governor: We Are Working With The Government To Make The Dinar The Main Currency In The Iraqi Market

He added that he "will take the necessary legal steps in the context of the dinar being a major currency prevailing in the market, in cooperation with the government."

He noted that "buying and selling in a foreign currency is a strange matter and a widespread phenomenon in the Iraqi markets, which is (the dollarization of the market)," pointing out that "the currency is a symbol of sovereignty and a title for the country, and abandoning it is tantamount to lowering the flag."

He pointed out that "externally we do not have a problem with remittances, and every day we open new outlets to sell the dollar at the official rate."

Al-Alaq pointed out that "inflation and the exchange rate are high factors, and we note a growth in the money supply, and the currency export witnessed a storm, which is an abnormal growth in the absence of productive growth, and indicates an increase in import demand."

And he explained, "The central bank law stipulates that it sells foreign currency without placing restrictions, and the text of the phrase in the article is (simple unconditional sale), which is the ideal case through which the central bank can maintain the exchange rate, that is, respond to every demand for the dollar."

And that "the problem is that there are more controls and standards in verifying the buying and selling of foreign currency, and with the increase in the international currency war, it makes the process of setting more controls and restrictions increasing."

And the governor continues, "The central bank has become in a complex balancing act between achieving a simple unconditional sale so that there is no room for the price difference and speculation, and the application of these standards that require a review of all operations."

He expressed his regret, saying, "The central bank bears additional burdens in applying these standards due to the absence of the role of other institutions that are supposed to help in the process of verifying operations. For example, if our border crossings were at a degree of organization and recording operations correctly, it would enable all parties." From the knowledge of the foreign dollar and its conformity in these operations .. There are large gaps in the border crossings, some of which have been diagnosed for many years, and some of which are new with experience.

And he warned that "the central bank has the ability and desire to achieve its goal of responding to the demand for the dollar, whatever its size, and it is now able to offer the dollar at the level of demand; but what reduces this supply is a group of merchants and others, who are not ready to enter into these processes and controls; so there is A deficiency in the process of covering the demand, if we see that the existing rates of remittances and the demand for dollars and credits do not cover only a small percentage of the real trade of Iraq, and we are trying to bridge this gap through various means to earn these and their entry into the process from its correct gate.

https://economy-news.net/content.php?id=32967

Relationship: The Dependence Of Some Governments On The Central Bank For Financing Threatens Monetary Stability

Economy | Baghdad today – Sulaymaniyah Today, Thursday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, affirmed the bank's intention to take the necessary legal steps to make the dinar a major currency prevailing in the market, indicating that this is in cooperation with the government.

Al-Alaq said during a speech at the Sulaymaniyah Forum, which was followed by (Baghdad Today), that "monetary policy includes two basic goals: maintaining the general level of prices, that is, the strength of the currency locally, and the exchange rate, which represents the strength of the currency externally."

He added, "The phenomenon of relying on the central bank to cover the deficit of the state's general budget is a very dangerous phenomenon, and the dependence of some governments on the central bank for financing threatens monetary stability," noting that "buying and selling foreign currency is strange and a widespread phenomenon in the Iraqi markets, which is (market dollarization). ).

He continued, "Externally, we do not have a problem with remittances, and every day we open new outlets to sell the dollar at the official rate," noting that "the currency is a symbol of sovereignty and a title for the country, and abandoning it is tantamount to lowering the flag."

And Al-Alaq explained that “inflation and the exchange rate are high with factors, and we notice a growth in the money supply, and the currency export witnessed a storm, which is an abnormal growth in the absence of productive growth and indicates an increase in import demand,” stressing that “the central bank law stipulates that it sells foreign currency without placing Restrictions, and the text of the phrase in the article is (simple unconditional sale), which is the ideal case through which the central bank can maintain the exchange rate, that is, respond to every demand for the dollar.

And he continued: “The problem is that there are more controls and standards in verifying the buying and selling of foreign currency, and with the increase in the international currency war, it makes the process of putting more controls and restrictions increasing, and the central bank has become in a complex balancing process between achieving the simple unconditional sale so as not to make there There is room for price difference and speculation and the application of these standards, which require a review of all operations.

And he stressed, "Unfortunately, the central bank bears additional burdens in applying these standards due to the absence of the role of other institutions that are supposed to help in the process of verifying operations. Knowledge of the foreign dollar and its conformity in these operations.. There are large gaps in the border crossings, some of which have been diagnosed for many years, and some of which are new with experience.

Al-Alaq stressed that "the central bank has the ability and desire to achieve its goal of responding to the dollar's demand, whatever its size, and it is now able to offer the dollar at the level of demand; but what reduces this supply is a group of merchants and others, who are not ready to enter into these processes and controls." .

He explained, "Therefore, there is a shortage in the process of covering the demand, if we see that the existing rates of remittances and the demand for dollars and credits, as they cover only a small percentage of real trade for Iraq, and we are trying to bridge this gap through various means to earn these and their entry into the process from its correct gate."

It is noteworthy that the 7th Sulaymaniyah International Forum is being held under the title "After 20 Years: Iraq and the Region in the Midst of New Global Challenges," and the forum, according to a statement issued by its management, is "a high-level political conference focusing on the Middle East and North Africa and hosted by the Institute of Regional and International Studies (IRIS) in The American University in Iraq - Sulaymaniyah.

The seventh edition of the Sulaymaniyah Forum discusses topics of politics, economy, environment, law, human rights, health, energy and many issues. During the two days of the forum, thinkers, experts and decision-makers from the region and the world will meet to discuss the most important regional issues in the world and present current views and points of contention. The statement of the management of the forum, which said that the forum Sulaymaniyah seeks to translate ideas and discussions into concrete actions and policies that can make a difference in people's lives. LINK

Al-Alaq Holds The Merchants Responsible For The Lack Of Dollar Supply: They Refuse To Engage In The System

2023.03.16 Baghdad - people The Governor of the Central Bank, Ali Al-Alaq, confirmed, on Thursday, that the exchange rate and inflation have witnessed an increase during the last two years, and that the price margin for the dollar exceeded 20%, while he indicated that this phenomenon affects the economic and social reality and weakens the purchasing power of citizens.

Al-Alaq said in statements he made during the seventh Sulaymaniyah Forum, followed by “NAS” (March 16, 2023), that “inflation and the exchange rate are high with factors, and we notice growth in the money supply, and the currency export witnessed a storm, which is abnormal growth in the absence of productive growth and indicates an increase.” import request.

And he added, "The central bank law stipulates that it sells foreign currency without placing restrictions, and the text of the phrase in the article is (simple unconditional sale), which is the ideal case through which the central bank can maintain the exchange rate, that is, respond to every demand for the dollar."

He pointed out that "the problem is that there are more controls and standards in verifying the buying and selling of foreign currency, and with the increase in the international currency war, it makes the process of putting more controls and restrictions increasing."

He pointed out that "the central bank has become in a complex balancing process between achieving simple unconditional selling so that there is no room for price difference and speculation and the application of these standards that require a review of all operations, unfortunately the central bank bears additional burdens in applying these standards due to the absence of a role Other institutions that are supposed to help in the process of verifying operations, for example, if our border crossings are at a degree of organization and recording operations correctly, it will enable all parties to know the foreign dollar and match these operations ..

There are large gaps in the border crossings, some of which are diagnosed From many years, and some of them beg for experience.

And he stated, “The central bank has the ability and desire to achieve its goal of responding to the dollar’s demand, whatever its size, and it is now able to offer the dollar at the level of demand; There is a shortage in the process of covering the demand, if we see that the existing rates of remittances and the demand for dollars and credits, as they cover only a small percentage of the real trade of Iraq, and we are trying to bridge this gap through various means to earn these and their entry into the process from its correct gate. https://www.nasnews.com/view.php?cat=103926

Central Bank Governor Ali Al-Alaq Announces New Legal Steps To Reduce The Exchange Rate Gap

On Thursday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed anticipated “legal steps” with the aim of reducing the gap in the exchange rate.

Al-Alaq said in a statement during the seventh Sulaymaniyah Forum today, (March 16, 2023), “We will take the necessary legal steps within the framework of the dinar being a major currency prevailing in the market, in cooperation with the government.”

He added, "Buying and selling in a foreign currency is a strange thing and a widespread phenomenon in the Iraqi markets, which is (the dollarization of the market)."

He continued, "Externally, we do not have a problem with remittances, and every day we open new outlets to sell dollars at the official rate."

He pointed out that "the currency is a symbol of sovereignty and a title for the country, and abandoning it is tantamount to lowering the flag."

Earlier, Al-Alaq confirmed that the exchange rate and inflation have witnessed an increase during the last two years, and that the price margin for the dollar exceeded 20%, while indicating that this phenomenon affects the economic and social reality and weakens the purchasing power of citizens.

Al-Alaq said, “Inflation and the exchange rate are high with factors, and we notice a growth in the money supply, and the currency export witnessed a storm, which is an abnormal growth in the absence of productive growth, and indicates an increase in import demand.”

And he added, “The central bank law stipulates that it sells foreign currency without placing restrictions, and the text of the phrase in the article is (simple unconditional sale), which is the ideal case through which the central bank can maintain the exchange rate, that is, respond to every demand for the dollar.”

He pointed out that "the problem is that there are more controls and standards in verifying the buying and selling of foreign currency, and with the increase in the international currency war, it makes the process of setting more controls and restrictions increasing."

He pointed out that “the Central Bank has become in a complex balancing process between achieving simple, unconditional sales so that there is no room for price difference and speculation, and the application of these standards that require a review of all operations. Unfortunately, the Central Bank bears additional burdens in applying these standards due to the absence of a role.”

Other institutions that are supposed to help in the process of verifying operations, for example, if our border crossings are at a degree of organization and recording operations correctly, it will enable all parties to know the foreign dollar and match these operations .. There are large gaps in the border crossings, some of which are diagnosed From many years, and some of them seek experience.”

And he indicated, “The central bank has the ability and desire to achieve its goal of responding to the dollar’s demand, whatever its size, and it is now able to offer the dollar at the level of demand; However, what reduces this offer is a group of merchants and others, who are not ready to enter into these processes and controls.

Therefore, there is a shortage in the process of covering the demand, if we see that the existing rates of remittances and the demand for dollars and credits, as they cover only a small percentage of the real trade of Iraq, and we are trying to bridge this gap through various means to earn these people and their entry into the process from its correct gate. LINK

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Iraqi News Highlights Thursday Afternoon 3-16-23

Tlm724 Administrator Bondlady’s Corner

Al-Alaq Reveals Prospective Legal Steps To Reduce The Gap In The Exchange Rate

Economy Thursday, March 16, 2023 11:01 am Baghdad / National News Center Today, Thursday, the Governor of the Central Bank of Iraq, Ali Al-Alaq, revealed prospective legal steps aimed at reducing the gap in the exchange rate. Al-Alaq said in a statement during the Seventh Sulaymaniyah Forum, followed by the National News Center: “We will take the necessary legal steps within the framework of the dinar being a major currency prevailing in the market, in cooperation with the government.”

Iraqi News Highlights Thursday Afternoon 3-16-23

Tlm724 Administrator Bondlady’s Corner

Al-Alaq Reveals Prospective Legal Steps To Reduce The Gap In The Exchange Rate

He added, "Buying and selling in a foreign currency is a strange thing and a widespread phenomenon in the Iraqi markets, which is (the dollarization of the market)."

He continued, "Externally, we do not have a problem with remittances, and every day we open new outlets to sell dollars at the official rate."

He pointed out that "the currency is a symbol of sovereignty and a title for the country, and abandoning it is tantamount to lowering the flag." https://nnciraq.com/193536/

Central Bank Governor Warns Of "A Very Dangerous Phenomenon That Threatens Monetary Stability"

Al-Alaq said in a speech during the Sulaymaniyah Forum, "Monetary policy includes two main goals: maintaining the general level of prices, that is, the strength of the currency locally, and the exchange rate, which represents the strength of the currency externally."

He added, "The phenomenon of relying on the central bank to cover the deficit of the state's general budget is a very dangerous phenomenon, and the dependence of some governments on the central bank for financing threatens monetary stability." https://www.mawazin.net/Details.aspx?jimare=222043

The Decline In Dollar Prices In Baghdad With The Closing Of The Stock Market

Economy Thursday, March 16, 2023 4:10 PM Baghdad / The National News Center

The exchange rates of the dollar decreased against the Iraqi dinar, today, Thursday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, "The central Kifah Stock Exchange closed in Baghdad at 156,400 Iraqi dinars, compared to 100 dollars, while the prices this morning were 156,800 dinars, compared to 100 dollars."

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 157,000 Iraqi dinars, while the purchase prices reached 156,000 dinars per 100 dollars." https://nnciraq.com/193636/

The Central Bank Announces The Provision Of Electronic Payment Points At Gas Stations

Economy| 05:28 - 03/16/2023 Baghdad - Mawazine News The Central Bank of Iraq announced today, Thursday, the provision of electronic payment points at gas stations.

The bank said in a statement, a copy of which Mawazine News received, that "the Central Bank of Iraq revealed the names of the fuel filling stations on both sides of Karkh and Rusafa in Baghdad, which will provide electronic payment points (pos) early next month, in cooperation with the Oil Products Distribution Company."

The statement added, "A number of fuel filling stations have been identified in the capital, Baghdad, as a first stage in which electronic payment points (pos) are available through bank cards (credit, debit, and prepaid), based on the government's directives to popularize electronic payment points and reduce the use of cash."

He pointed out, " He continued, "The stations that have been identified in cooperation with the Oil Products Distribution Company affiliated with the Ministry of Oil are:

1- Karkh stations

, the Yarmouk filling station near the railway / Al-Dawudi

, the First Police filling station / Al-Jamaa neighborhood / behind the Mulla Huweish mosque

- a filling station Umm al-Tabul / Al-Dakhiliyah neighborhood / behind the Umm al-Tabul mosque

- Filling station, Al

-Risala / Al- Mansour near the statue of Abi

Jaafar Al

- Mansour Musa bin Naseer / Karrada, Salman Faeq Street, near Al-Shorouk Building

- Al-Khalisa / Al-Waziriyah filling station

- Al-Bataween filling station / Al-Tayaran Square opposite Baghdad market. Ended 29 / m 99

https://www.mawazin.net/Details.aspx?jimare=222087

Iraq Raises Its Balance Of Holding US Bonds To 41 Billion Dollars

Iraq Thursday, March 16, 2023 Follow-up / The National News Center The US Treasury announced today, Thursday, that Iraq's possession of US bonds has risen to more than 41 billion dollars.

And the treasury stated in its latest schedule, affiliated with the National News Center, that “Iraq’s possession of US Treasury bonds for the month of January of 2023 increased by 303 million dollars to reach 41.117 billion dollars, after it was 40.814 billion dollars during the previous month,” indicating that “These bonds increased by 75.69% over the same month of 2021, when Iraq’s possession of bonds amounted to $23.4 billion.”

And she added, "Iraqi bonds, including long-term guarantees of $27.784 billion and short-term guarantees of $13.393 billion," noting that "these bonds represent 0.56% of global bonds."

Saudi Arabia comes at the forefront of the Arab countries with the most possession, amounting to 111.016 billion dollars, despite its decrease by more than 8 billion dollars from the previous month, and the UAE comes second with 64.875 billion dollars, up by 6 billion dollars from the previous month, and then Kuwait comes third with 43.282 billion Dollars, down by $5 billion from the previous month, followed by Iraq fourth and Oman fifth by $7.061 billion, then Morocco by $3.931 billion. https://nnciraq.com/193652/

Central Bank Sales Record More Than 233 Million Dollars In Today's Auction

Economy| 11:50 - 03/16/2023 Baghdad - Mawazine News The Central Bank of Iraq's sales of dollars in an auction today, Thursday, recorded more than 233 million dollars. https://www.mawazin.net/Details.aspx?jimare=222052

American Report: Washington Maintains Few Forces In Iraq To Maintain Relations

Posted On2023-03-16 By Sotaliraq Translated by: Hamed Ahmed An international report stated that 20 years after the American invasion of Iraq, and the accompanying explosions, shocks and terror, less American forces remained in the country, but steadily to ensure an ongoing relationship with a major partner in the Middle East region at the military and diplomatic level.

A report by the American Associated Press, translated by Al-Mada, stated that "the remaining forces, numbering 2,500 soldiers, are distributed around the country, most of them in military bases in Baghdad and the Kurdistan region."

And the report continued, “While the number of forces at the height of the war during the year 2007 was more than 170,000 soldiers, American officials say that the presence of a limited level of forces, but on an ongoing basis, is a vital and important matter that shows the commitment of the forces to maintain the security of the region against No outside influence.

And he added, “But since the American invasion in 2003, which necessitated the bringing in of tens of thousands of American soldiers, and the passage of twenty years since the overthrow of the previous regime and the advent of a system of governance based on quotas between the political blocs, many Iraqis have been disappointed, after getting rid of a dictatorial regime, because governments The successive government that took over failed to restore basic services, and the continuous battles brought instead massive human suffering.

The report pointed to "resentment and power struggles between rival sectarian parties that ignited a civil war that eventually led to the complete withdrawal of US forces in December 2011."

He stressed, "Sectarian strife was a major cause of the collapse of the country's forces, including the army and police, with their confrontation with the terrorist organization ISIS, which in 2014 invaded large areas of Iraqi and Syrian territory."

And the report stated, “The spread of the threats of the terrorist organization ISIS necessitated the return of American forces again to Iraq in 2014 at the invitation of the Baghdad government.”

And he continues, “During the summer and fall of that year, the coalition forces led by the American army launched a campaign of air strikes against the organization in Iraq and then in Syria, and then returned with a broader effort to train and advise the Iraqi forces.”

The report goes on to state that “the training and advising mission, with additional support from NATO forces, continued even after the end of the war against ISIS and its expulsion from its last stronghold in Syria in March 2019.”

And he stressed, “The retired American general, Frank McKenzie, who assumed the presidency of the Central Command of the US forces in the Middle East for the period from 2019 to 2022, said: (Iraq is still under the pressure of ISIS, and we are still helping the Iraqi forces in the war against ISIS, we have We have done a lot to help them develop their capabilities to preserve their sovereignty, which is very important for the Iraqis.”

The report noted, "The constant reason for the continued presence of US forces is to assist Iraq in its war against the remnants of the terrorist organization ISIS militants and to prevent the re-emergence of its threats."

He continued, "The presence of the American forces in Iraq also provides important logistical support to the American forces present in Syria, which provide support to the Syrian Kurdish Democratic Forces in their war against ISIS there."

The report talked about "the implementation of air strikes and other missions by US forces targeting the leaders of the organization, as well as supporting the Syrian Kurdish forces that are guarding thousands of ISIS militants and their families detained in Syria."

He added, "In his recent visit to Baghdad and his meeting with Iraqi leaders, US Defense Secretary Lloyd Austin said that US forces are ready to stay in Iraq, in a non-combat role, at the invitation of the government."

According to the report, “Austin also said: (We are deeply committed to ensuring that the Iraqi people can live in peace and dignity, in safety and security, with economic opportunities for all).”

The report emphasized, “In a statistic of war losses since 2003 until the withdrawal of combat forces in December 2011, Iraq lost tens of thousands of civilian deaths, with 4,487,000 American forces killed and 32,000 other American soldiers wounded during the battles.”

He explained, “The report of the Special Inspector General for the Iraq Reconstruction Campaign stated that for the period from 2003 to 2012 the United States spent $60.64 billion to finance the Civil Effort Fund for the Reconstruction of Iraq and to support the Iraqi security forces.” $20 billion of those allocations went to finance, arm, equip and train the Iraqi security forces.

And the report went on, that “the Congressional Defense Committee stated during the period between 2007 and 2010 that there were 100 thousand contractors annually in Iraq providing services and support to the American forces and the American mission as well. According to US Central Command, as of the end of last year there were 6,500 contractors providing support for US operations in Iraq and Syria. LINK

Fluctuation And Decline In Oil Prices And Their Impact On The Budget

Falah Al-Amiri We have already adopted the price of oil for budget purposes. It was raised on more than one occasion, and since 2010 it is for the government to adopt a price of 40-45 dollars for budget purposes for a period of five years, to be reviewed after the end of that period. However, successive governments continued to adopt the tendency of rentier economy and use the operating budget to escape forward instead of focusing on solving the problems of the private sector and facilitating its procedures and developing it to reduce pressure on the public sector and move towards expanding the market economy, in addition to applying governance in obtaining non-oil revenues.

With regard to the 2023 budget, we expected that the price of oil for budget purposes would not exceed 60 dollars or even 65 dollars, which is a price previously adopted in some previous budgets, according to Iraq's financial conditions. But the adoption of $70 was a surprise, especially with the new official exchange rate of 1320.

In general, it seems that there are several reasons that prompted the current government to adopt the price of 70 dollars per Maronite this year, including an unprecedented huge operational budget, as follows:

1. The government will use the accumulated financial abundance from 2022.

2. During the first and second months of this year, large quantities of basic foodstuffs were purchased from the funds of the Food Security Act. This may reduce costs.

3. The average price of Iraqi oil exceeded 74 dollars a barrel during the first quarter of this year, and this helps to absorb a shock in the decline in oil prices later.

4. The expected world oil price for the year 2023 ranges between 65-80 dollars per barrel, and some expectations may reach the price of 90 dollars, and this is exaggerated, but the expected annual rate is 70 dollars per barrel. Of course, these expectations take into account the existence of a global economic recession and the possibility of its expansion.

5. The continuation of the Russian-Ukrainian war is a major factor in the fluctuation and instability of oil prices, up and down.

6. Russia and Saudi Arabia will work hard to keep the oil price at least $70 per barrel as an annual average for oil prices in general, and this price is commensurate with their annual budgets and financial situation.

7. Western governments are working seriously to avoid a financial collapse, as happened in 2008, because this time it will be more dangerous because the peoples of these countries have suffered from high prices and energy shortages, and have drained them financially.

8. The government acted smartly when it presented a budget of this size, ramifications, and details, especially the public expenditure side, which members of Parliament had an important role in increasing through the appointments that were proposed, and tens of thousands of citizens, especially teachers, graduates, higher degrees, daily wages, and others, were confirmed.

9. The government has thrown the ball in the parliament's court. The members of the Parliamentary Finance Committee will conduct an extensive study of the budget. I think there will be no fundamental changes, whether in the budget items or the price of oil, as it focused on financing salaries, public service projects, health and others that concern citizens, in addition to covering sensitive matters such as projects of the Ministry of Oil and Electricity.

It has touches that achieve social justice for the distribution of income and contribute to relative social stability. And if Parliament decides to reduce the price of oil, perhaps to the price of 65 dollars a barrel, then this may require the deletion of some items of operating expenses that may be very sensitive in the tightly built budget, and that any change scores a point for the government, not Parliament.

10. The political blocs that nominated the government have certainly seen, at the very least, some important and basic items and figures in the proposed annual budget, and there is no doubt that they will discuss the budget with their representatives in Parliament and direct them to approve the budget and pass it quickly and avoid obstruction or delay and without making fundamental changes.

Finally, I believe that adopting a price of 65 dollars per barrel is considered an acceptable settlement between Parliament and the government if Parliament decides to change the price of oil and some budget items or reduce the deficit for this year.

He suggested that the government adopt a downward price for the price of oil for budgetary purposes in the coming years. https://economy-news.net/content.php?id=32969

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

https://www.bondladyscorner.com/

Dinar Recaps 20 3/16/23 Dinar Recaps 20 3/16/23

"Tidbits From TNT" Thursday Morning 3-16-2023

TNT:

Tishwash: Central Bank Governor warns of "a very dangerous phenomenon that threatens monetary stability"

Governor of the Central Bank of Iraq, Ali Al-Alaq, considered, on Thursday, relying on the central bank to cover the general budget deficit, as "a very dangerous phenomenon that threatens monetary stability" in Iraq.

Al-Alaq said in a speech during the Sulaymaniyah Forum, "Monetary policy includes two main goals: maintaining the general level of prices, that is, the strength of the currency locally, and the exchange rate, which represents the strength of the currency externally."

He added, "The phenomenon of relying on the central bank to cover the deficit of the state's general budget is a very dangerous phenomenon, and the dependence of some governments on the central bank for financing threatens monetary stability." link

TNT:

Tishwash: Central Bank Governor warns of "a very dangerous phenomenon that threatens monetary stability"

CandyKisses: Kurdistan Government announces Nowruz holidays in the region On Thursday, the Kurdistan Regional Government (KRG) announced a holiday...

Baghdad today - Erbil

Today, Thursday, the Kurdistan Regional Government announced the suspension of official working hours on the occasion of the Nowruz holidays and the Kurdish New Year.

And the government stated, in a statement received by (Baghdad Today), that "on the occasion of the Nowruz holiday, it was decided to suspend official working hours on Tuesdays, Wednesdays and Thursdays."

He added, "The Nowruz holiday begins on the 21st of this month until the 23rd of the same month."

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

Tishwash: Central Bank Governor: We are working with the government to make the dinar the main currency in the Iraqi market

On Thursday, the Governor of the Central Bank, Ali Mohsen Al-Alaq, set the objectives of monetary policy in Iraq, pointing out that he would take the necessary legal steps within the framework of the dinar being a major currency prevailing in the market in cooperation with the government.

Al-Alaq said on the second day of the seventh Sulaymaniyah Forum, followed by "Al-Iqtisad News", that "the monetary policy includes two basic goals," noting that "one of these goals is to maintain the general level of prices, that is, the strength of the currency locally and the exchange rate, which represents the strength of the currency externally."

He added that he "will take the necessary legal steps in the context of the dinar being a major currency prevailing in the market, in cooperation with the government."

He pointed out that "externally we do not have a problem with remittances, and every day we open new outlets to sell the dollar at the official rate."

So there is A deficiency in the process of covering the demand, if we see that the existing rates of remittances and the demand for dollars and credits do not cover only a small percentage of the real trade of Iraq, and we are trying to bridge this gap through various means to earn these and their entry into the process from its correct gate. link

Mot: .. Regarding Women!! ~~~~

CandyKisses: BEFORE YOU MARRY A PERSON...

DINARRECAPS8 3/16/23 DINARRECAPS8 3/16/23

Thursday Morning Iraq Economic News Highlights 3-16-23

An Economist Explains The Kurdistan Region's Share Of The Tripartite Budget

Money and business Economy News-Baghdad On Thursday, economic expert Nabil Al-Marsoumi explained the shares of the Kurdistan region from the 2023 budget, amounting to 12%.

Al-Marsoumi said in a Facebook post seen by "Al-Iqtisad News", that "with regard to Kurdistan in the 2023 budget, the Ministry of Finance will pay the loan amount of 400 billion dinars granted to the Kurdistan region according to Cabinet Resolution No. 333 of 2022 by the Iraqi Trade Bank from the region's share for the current year." Pointing out that "Kurdistan's share of actual spending after excluding sovereign expenditures = 12.67%."

Thursday Morning Iraq Economic News Highlights 3-16-23

An Economist Explains The Kurdistan Region's Share Of The Tripartite Budget

Money and business Economy News-Baghdad On Thursday, economic expert Nabil Al-Marsoumi explained the shares of the Kurdistan region from the 2023 budget, amounting to 12%.

He added, "The wages for the operational costs of producing and transporting crude oil exported by the region are among the sovereign expenditures."

He pointed out that "the Kurdistan Regional Government is committed to exporting crude oil from its fields at a rate of not less than 400,000 barrels per day."

He explained that "the deposit of the total revenues of the oil produced from the fields of the region takes place in one bank account in which all revenues derived from the export or sale of crude oil and its derivatives are deposited without any deductions for any purpose whatsoever. ".

He noted that "a percentage of the allocations of the federal ground forces of the Iraqi army is allocated to the Peshmerga forces according to the population ratios of the aforementioned forces," noting that "the Kurdistan Regional Government is committed to handing over non-oil revenues to the state treasury."

Al-Marsoumi stated that "50% of the revenues of the border crossings are allocated to the governorates in which these crossings are located, including the Kurdistan region."

He continues, "The Federal Ministry of Finance is committed to paying the region's dues under the provisions of this law on a monthly basis." https://economy-news.net/content.php?id=32970

Planning: The Amount Of The Deficit Is About 60 Trillion Dinars, And Part Of It Is Paper

March 16, 2023 Baghdad / Obelisk: Minister of Planning Muhammad Tamim announced, on Thursday, the addition of 21 trillion dinars to the 2023 budget to cover salaries.

Tamim said in a statement during the Seventh Sulaymaniyah Forum: “I was assigned to prepare the budget for 2023, 2034 and 2025, and we had limited options and great challenges, and we started with the issue of preparing the budget by going towards defining what are the priorities according to the government program in a realistic way.”

And he added, “When we went to the expenditures, we found that the expenditures had greatly inflated, with limited resources, and this matter prompted us to reconsider the expenditure chapters and the need to define these chapters in a manner consistent with the government’s directives.”

He pointed out that "the amount of the deficit is about 60 trillion dinars, and part of this deficit is a paper deficit."

He pointed out that “we added in this budget 21 trillion Iraqi dinars to salaries, and this is not a governmental decision, but rather the decision of the previous parliament and the two previous governments, in addition to the emergency support law to install contractors.”

And he indicated, "This government did not take a single decision to appoint one person, even if he was in the offices of ministers and the new government.. Adding operational amounts to the budget was a result of the decisions of previous governments and the previous parliament."

https://almasalah.com/archives/46900

Expert: The Revenues Planned In The Budget Are Not Realized, And The Deficit May Reach 90 Trillion Dinars

2023.03.16 - Baghdad - Nas On Thursday, economic expert Manar Al-Obaidi predicted that the 2023 budget deficit would reach 90 trillion dinars, while he ruled out achieving the planned revenues.

Al-Obaidi said in a clarification followed by “NAS” (March 16, 2023), that “the planned revenues in the 2023 budget amount to 136 trillion dinars resulting from 101 trillion at a rate similar to the rates of previous years from oil sales, 13 trillion dinars for Kurdistan’s oil may not be achieved.” It is received, and 7 trillion dinars for added oil sales above the normal rate may not be achieved, and 17 trillion non-oil revenues may not achieve only 7 trillion dinars, which is the annual rate for previous years.

And he added, "The planned revenues of 136 trillion may not actually achieve more than 108 trillion, and the planned deficit is 60 trillion dinars, and the deficit may reach 90 trillion dinars if the revenues are not achieved."

And he stated, "The deficit-to-GDP ratio in the Financial Management Law should not exceed 3%, i.e. it should not exceed 11 trillion Iraqi dinars, and the current planned deficit-to-GDP ratio is 16%, and the deficit-to-GDP ratio is 24%." ".

And that "every drop in the price of oil by one dollar costs revenues 1.5 trillion Iraqi dinars."

He pointed out that "the drop in the oil price to the rate of 60 dollars means a loss of revenues by 15 trillion dinars, which will increase the deficit gap."

Earlier, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, spoke about the impact of low oil prices on the Iraqi budget.

Al-Marsoumi said in a post, followed by "NAS", (March 15, 2023), that the price of Brent crude fell to $73 a barrel due to the collapse of the American banks Silicon Valley and Signature, which reinforced concerns about the risks faced by other banks from sharp increases in interest rates by the central bank.

The American over the past year, which led to a sharp decline in fuel demand caused by the downsizing of technology companies on a large scale, in addition to reducing travel expenses for their employees, as many startups in the technology sector were seen as potential consumers of oil and gas in the Middle East.

In the future, its collapse led to a decrease in expectations related to the growth of oil demand in the future, and it reinforced the fears of the failure of Credit Suisse, which is the second largest bank in Switzerland, fears about the outbreak of a new global financial crisis, such as the one that occurred in 2007-2008, which was reflected negatively on stocks. European and American.

He added, "In addition to the repercussions of the Silicon Valley Bank crisis, oil prices are also under pressure due to signs of a slower-than-expected recovery in the Chinese economy despite the lifting of its strict restrictions related to the pandemic, as well as US statements about the possibility of setting a higher ceiling for the price of Saudi oil and the rise in US oil stocks.

These repercussions on global oil prices have a clear impact on the Iraqi budget, which has adopted an unconserved price, which is 70 dollars per barrel, which is the highest among Gulf budgets. It will exacerbate the budget deficit and increase internal and external debts, especially since Iraq, without all the oil countries, lacks a sovereign fund that can be a buffer in cases of oil prices falling below their normal levels https://www.nasnews.com/view.php?cat=103920

Masoud Barzani Hopes For The Issuance Of The Oil And Gas Law And Considers The Budget A 'Positive Step Forward'

2023.03.16 - Baghdad - Nas In an interview with the American newspaper Al-Monitor, Massoud Barzani, leader of the Kurdistan Democratic Party, expresses his hope that the "positive atmosphere" that surrounded the recent talks between the KRG and the KRG over the budget would lead to talks on the elusive oil and gas law.

"I will not say that we 100% prefer the budget decision, but I think it is a positive step forward," Barzani said in the interview, which was followed by "NAS" (March 16, 2023).

The following are excerpts from the interview:

Federal Budget and Oil Law:

The Kurdistan Region's share of the Iraqi budget under the proposed legislation is 12.6%, according to Iraqi Prime Minister Mohammed Shia al-Sudani, who met Barzani in Salah al-Din on Tuesday.

“This case has been exploited unfairly against the Kurdistan Region in the past,” Barzani said, referring to a long-running dispute over the proportion of Iraqi government revenues to be allocated to the Kurdistan Region.

"I wouldn't say the budget decision is 100 percent what we wish for, but I think it is a positive step forward," he said.

Barzani expressed hope that the "positive atmosphere" surrounding the budget talks could mean good news for an elusive oil law.

"Since 2007, the Kurdistan Regional Government has been willing to issue this law in parliament," he said. The successive governments in Baghdad have so far backed down from that, and have not yet reached a conclusion. But with the current positive climate, I believe this will help pass the oil law and other pending legislative issues.”

The American role in Iraq and the region:

Barzani noted that current US priorities may have changed, with China and Ukraine high on the national security agenda, but "this does not mean that the US does not take things seriously" in Iraq and the Middle East.

Barzani said, "You cannot compare the current conditions with the conditions of previous eras, but the United States still looks at the region with importance."

The Kurdish leader noted that US Defense Secretary Lloyd Austin - "our close friend" - visited Iraq last week.

Barzani said that Austin "stressed that the United States attaches importance to the region and continues relations and contacts with the players," adding that "the ISIS threat continues."

The Iranian-Saudi agreement:

Barzani welcomed the agreement brokered by China between Iran and Saudi Arabia, saying, "Of course, we would like to see an end to the tension between the countries of the region. Iran and Saudi Arabia are two important countries in the region."

"Maybe it's too early to pass judgment, to talk too much about it, but at least any efforts to ease tension are welcome," Barzani said.

On China's role, Barzani said, "They are quietly working to fill some of the gaps left behind."

Barzani said, "We hope that the agreement between Iran and Saudi Arabia will be a sign that Iran is moving away from the language of intimidation and threats, and towards dialogue and diplomacy, to accommodate the opinions of others and settle issues through mutual understanding."

Iran's position on the region:

In response to a question about the Iranian missile attacks on the Kurdistan Region last year, Barzani said, "It is absolutely unjustified and the accusations are baseless."

Iran has accused the Kurdistan Region of Iraq, and the government of Iraq, of failing to prevent armed Iranian Kurdish opposition groups from launching attacks in Iran during the protests following the death in custody of Mohsa Amini on charges of violating the veil in September 2022.

"Some institutions in Iran - in order to cover their failures in the country - were trying to find an external scapegoat," Barzani said.

"Iran is a neighbor, we do not want any tension with them, and we want to have normal relations as possible," he added.

"We are not part of the skirmishes or settling scores [with Iran]," Barzani said. "We cannot allow our land to be a base for threatening the security of our neighbours."

The position on Syria:

Barzani welcomed the steps taken by the Arab countries to re-engage Syria.

"Since 2011, Syria has witnessed a state of chaos, with killings, displacement, refugees and mass destruction," Barzani said. "But there was no indication of what might come next," referring to efforts and hopes for regime change for the government of Syrian President Bashar al-Assad.

"Who will be the replacement?" Barzani asked. There are no clear answers and no clarity in policies for the future of Syria.

With Arab rapprochement, he said, "there can be some stability in the country and at least an end to the cycle of violence and a return to a degree of normal life."

https://www.nasnews.com/view.php?cat=103921

Fluctuation And Decline In Oil Prices And Their Impact On The Budget

However, successive governments continued to adopt the tendency of rentier economy and use the operating budget to escape forward instead of focusing on solving the problems of the private sector and facilitating its procedures and developing it to reduce pressure on the public sector and move towards expanding the market economy, in addition to applying governance in obtaining non-oil revenues.

1. The government will use the accumulated financial abundance from 2022.

2. During the first and second months of this year, large quantities of basic foodstuffs were purchased from the funds of the Food Security Act. This may reduce costs.

3. The average price of Iraqi oil exceeded 74 dollars a barrel during the first quarter of this year, and this helps to absorb a shock in the decline in oil prices later.

5. The continuation of the Russian-Ukrainian war is a major factor in the fluctuation and instability of oil prices, up and down.

He suggested that the government adopt a downward price for the price of oil for budgetary purposes in the coming years. https://economy-news.net/content.php?id=32969

DINARRECAPS8 3/15/23 DINARRECAPS8 3/15/23

Iraqi News Highlights Wednesday Evening 3-15-23

Tlm724 Administrator Bondlady’s Corner

High Dollar Exchange Rates In The Local Market

Wednesday 15 March 2023 10:46 | Economical Number of readings: 416 Baghdad / NINA / - Today, Wednesday, the exchange rates of the dollar against the dinar witnessed an increase in the local markets in all governorates of the country.

As the buying and selling prices recorded an increase in the exchange rates of the dollar in exchange shops in the local markets in all the country’s governorates, as the selling price reached 158,500 dinars per 100 dollars, while the purchase prices reached 157,000 dinars per 100 dollars.

Iraqi News Highlights Wednesday Evening 3-15-23

Tlm724 Administrator Bondlady’s Corner

High Dollar Exchange Rates In The Local Market

https://ninanews.com/Website/News/Details?key=1040574

Al-Sudani From Sulaymaniyah: We Seek To Build A Strong Economy To Bring Prosperity To The Country

Wednesday 15 March 2023 10:57 | political Number of readings: 461 Baghdad / NINA / - Prime Minister Muhammad Al-Sudani affirmed in a speech at the opening of the Seventh Sulaymaniyah Forum that the government seeks to build a strong economy to spread prosperity to the country./ https://ninanews.com/Website/News/Details?Key=1040578

Pros And Cons.. What Is The Effect Of Reducing The Ceiling For Selling Dollars To Travelers To Only Two Thousand Dollars?

Reports and analytics Dollar prices breaking Baghdad International Airport Central Bank of Iraq Sell the dollar 2023-03-15 11:17 Shafaq News / Specialists indicate that reducing the ceiling for selling dollars to travelers in Iraq from seven thousand dollars to only two thousand dollars will reduce fraud through "rental travelers", which will reduce the momentum at the gates of banks,

but, according to specialists, this will return It will harm the "real travelers", and will raise the price of the dollar in the parallel market, which will negatively affect the prices of all materials.

And the Central Bank of Iraq had determined the sale of the dollar to travelers to 2000 dollars instead of 7000 dollars, as of Sunday, 3/19/2023, at the official price of 1320.

This comes a day after setting up a new mechanism, starting today, Wednesday, to sell dollars to travelers at the bank’s outlet at Baghdad International Airport, and specifying 3,000 dollars in cash as a higher ceiling for selling dollars to travelers instead of 7,000 dollars, at the official rate of the Central Bank of Iraq of 1,320.

These decisions aroused dissatisfaction with some citizens, who called for such decisions to be considered "and not arbitrary", which caused a crisis and exploitation by some by deporting citizens for free, calling for the need to conduct a study by specialists to address it.

Pros and Cons

Specialists explain that the procedures of the Central Bank of Iraq are intended to preserve the quantities of cash from foreign currencies, specifically the dollar, from keeping it within the local economy, and not leaving a large amount of it outside the country, which will directly affect the smuggling of the dollar and the removal of foreign currency from the reach of the local economy.

A set of pros and cons emerges in this regard, according to the economist, Dr. Salem Sawadi.

As for the negatives, they include that "the supply of the dollar will be in limited quantities, and thus will affect the rise in the price of the Iraqi dinar against the dollar, which will be reflected in price levels in general, and in inflation." economic at the present time, but

it is hoped that over time there will be a balance between supply and demand,

which will directly affect the general stability of prices.

On the advantages of reducing the upper limit for selling the dollar, Sawadi explains to Shafaq News agency,

"The central bank's attempt to rely on the electronic card system, and the cash (local or foreign) - instead of being carried by individuals in their wallets or at their fingertips - is in (the Master Card) or with a credit card." credit carried by travelers or even individuals within the local economy.” And he shows:

“This is a positive factor so that the monetary mass - whether of foreign or local currency - is inside the banking system, and this has great returns on the economy in the future,

just as the global and international trend does not deal with (cash money), but most often with credit cards.” With the availability of the means to ensure the success of these cards within the local economy.

For his part, the researcher in economic affairs, Ahmed Eid, adds other advantages to the reduction, which is

"reducing fraud and unjustified travel that companies and speculators take through (chartered travelers) for the purpose of obtaining dollar amounts by depositing in banks and withdrawing from airport outlets, which will reduce The momentum taking place and the queues of citizens at the bank gates.

As for the negative side, Eid told Shafaq News agency,

"There are official travelers who reside outside Iraq, or who wish to travel for the purpose of treatment, study, or entertainment.

These categories of travelers have been greatly affected, because determining the amount of this amount will cause great harm to them." Eid proposes,

"Setting restrictions and conditions for obtaining the dollar amount for residents, by proving their official residence outside the country, or travelers for the purpose of treatment through official official reports, and

for students, it is very necessary to facilitate their obtaining dollars through their academic residence, or what proves Final admission for each student.

As for the impact of this on the local market, he explains that

“the price of the dollar will rise in the parallel market, and

speculators will register this opportunity to raise the exchange rate of the dollar,

which will negatively affect the prices of goods and materials in all their forms.” randomness," he said.

In turn, the economist, Mustafa Akram, says,

"The issue of selling the dollar to citizens is a temporary, non-permanent stage,

the purpose of which is to increase the supply of cash dollars from outside the platform,

because the platform at the beginning of its implementation was difficult to cultivate special cultures for merchants, such as opening credits or using an electronic payment card." Akram added to Shafaq News agency,

"But now the Central Bank of Iraq has reduced these amounts to 2,000 dollars (cash), as

for those who want dollars and want to travel abroad, there is a mechanism adopted by the Central Bank, which is filling out the payment card that you have (regular, credit or City)". And the economist continues,

"The credit and debit cards may contain more than 10 thousand dollars or 10 million dinars, and

you fill them in Iraqi dinars, and spend them inside the country exclusively in Iraqi dinars,

but when leaving the country, they act according to the currency of the country in which they are."

https://shafaq.com/ar/تقارير-وتحليلات/يجابيات-وسلبيات-ما-ت-ثير-تقليص-سقف-بيع-الدولار-للمسافرين-لى-لفي-دولار-فقط

An Economist Explains Steps To Reduce The Demand For Dollars In The Parallel Market

Today 08:48 Information / Baghdad... The economist, Dr. Safwan Qusai, explained how to reduce the demand for the dollar in the parallel market, pointing to the importance of taking governmental measures as well as from the Central Bank to reduce the demand for the dollar and reduce its price.

Qusai told Al-Maalouma, "The organization of trade in Iraq needs a unified database so that the system turns into a commercial system through long-term contracts, as the entry of the Ministry of Commerce at this stage to import goods and direct consumers towards them."

He added, "There is a possibility to increase the transparency of information from the central bank so that everyone knows who are the merchants who obtain the dollar at the official rate and import goods, as it is assumed that they are sold at the parallel market price."

And he indicated that "the Central Bank is keen to expand the circle of dealers in the window for selling the currency, especially for those who have real bills and real suppliers, and

thus the demand for the parallel market will recede." 7

He pointed out that "regulating trade with Iran is possible through a window that opens to buy goods and materials that are sold inside Iraq and with the knowledge of the Federal Bank, which will also contribute to reducing the demand for dollars in the parallel market." ended 25 n

https://almaalomah.me/news/economy/اقتصادي-يوضح-خطوات-تقليل-الطلب-على-الدولار-في-السوق-الموازي

It Caused The Dollar Crisis.. Is The Government Able To End The "Dollarization" Phenomenon?

Information / special. Today, Tuesday, the economic expert, Nabil Jabbar, explained the extent of the current government's ability to end the "dollarization" phenomenon, while stressing that

the phenomenon is one of the causes of the dollar's rise in the Iraqi markets.

Jabbar said in an interview with Al-Maalouma, "The phenomenon of dollarization means the spread of the dollar in the market and dealing with the dollar individually in the internal local market, although our currency is the Iraqi dinar, and all our work in the market is in dinars, and this step does not harm the citizen at all."

He added, "The central bank's move to prevent the use of the dollar in ATMs and electronic payments comes as part of the Iraqi government's efforts to end the phenomenon of dollarization." The expert explained,

"The Iraqi government previously worked to ensure that the receipt of remittances through companies is only in Iraqi dinars, and now dealing with automated teller machines is only in Iraqi dinars." It is likely that

"there will be a step in the coming days to make all personal bank accounts only in Iraqi dinars, and this is it." Part of ending the phenomenon of dollarization in the local market.

Jabbar stressed, "This matter is in effect in all countries of the world, and any country that works in dollars will negatively affect its economy, and that is why all countries are working to adopt their official currency only."

And the Central Bank decided, at a time of race, and based on the decision of the Council of Ministers, that the electronic financial services provided inside Iraq through "automated teller machines, points of sale devices, and electronic payment gateway", shall be in the currency of the Iraqi dinar.

https://almaalomah.me/news/economy/تسببت-بأزمة-الدولار-هل-الحكومة-قادرة-على-انهاء-ظاهرة-الدولرة

Blaskhart: The Sudanese Government Needs Time To Reform

Wednesday, March 15, 2023 4:15 PM Baghdad / National News Center The United Nations warned of political problems in Iraq, expecting that the situation would lead to new protests, while Al-Sudani refused to drag his country into conflicts between neighboring countries and their opponents.

Blaskhart confirmed, in a speech during the Sulaymaniyah Forum, that “the approval of the new Iraqi government, which was recently led by Prime Minister Muhammad Shia al-Sudani, provides a very important opportunity, and an opportunity to return the country to the path of stability.”

She added: “First of all, as the Prime Minister previously indicated, the Cabinet has approved the federal budget for 2023, and that is really good news. Of course, it still has to be approved by Parliament,” noting that “without a budget approved by Parliament, the implementation of the government’s program will be greatly delayed – including the provision of public services.”

“Most importantly, high oil prices cannot keep the country afloat, and similarly, sustainable job creation cannot be achieved through hyperinflation of the public sector. Economic and financial reforms are urgently needed.”

And she stressed, “Efforts to combat systemic corruption in Iraq go beyond individuals or events. The system that was established after 2003 simply cannot continue, and if left as it is, it will backfire again,” adding, “In addition, the The many outstanding issues between Baghdad and Erbil require institutional relations. In the absence of that, a few will improve, not all.”

And she continued: “In 2019, I portrayed a scene marred by the politics of factions and non-state actors, the imbalance of state resources, poor services, and a lack of jobs. Now, four years later, many of these issues are still very acute, so there is no time to lose.”

And she indicated, “The challenges that await us are numerous, and it would be very naive to believe that the legacy of past difficulties and newly emerging threats will stop testing the country’s resilience, and like any other country, Iraq will be subject to the test – sooner or later, but what is cause for fear is that if action is not taken.” Quick action, Iraq will fail this test.”

And she stressed, "anchoring the country in the stability it needs to withstand future shocks," explaining: "For this to happen, we must learn collectively from history - and recent history at the same time - to avoid repeating it."

She added, "However, the internal political infighting and the special interests of the parties in the Kurdistan region cannot be neglected."

Blaskarat said, "Kurdistan can unite and confront systemic corruption, enhance its respect for basic rights and freedoms, achieve tangible progress in security and economic reform, and engage in dialogue despite internal differences that sometimes (I admit it) seem insurmountable." On it, or he can fail to arrange his internal affairs, and risk what he has achieved during the past decades.

“We sincerely hope that Iraq, drawing on its enormous wealth, diversity, opportunities and potential – can now, and thus be empowered, move forward successfully,” she emphasized.

And she indicated, “After 20 years, the country deserves to go beyond the endless cycles of instability and fragile conditions, and that the Iraqis are fully aware of the life they were promised after Saddam. After two decades, they deserve better.” https://nnciraq.com/193392/

Issuing The Third Package To Facilitate The Procedures For Obtaining The Dollar

The Central Bank of Iraq issued the third package to facilitate procedures for obtaining dollars. And the bank said in an official statement: “It decided to issue the third package to facilitate

the procedures for requesting US dollars, which includes the following:

Through the electronic payment card issued by the licensed authorities when used abroad, as follows:

a- Prepaid cards, whether in dollars or dinars, which are not linked to a bank account, which makes them accessible, and with a ceiling of ( $10,000) that can be refilled, and the bank and licensed electronic payment companies have the right to issue it.

B- Credit cards, and the ceiling determined by the bank according to its classification of the customer (Gold, Silver, Platinum), with the possibility of reinforcing what was used from it later.

C- Debit Cards, which are linked to the customer’s account with the bank (including the nationalized salaries) and which can be used to pay in dollars according to the customer’s balance with the bank, and on the basis of the official dollar exchange rate.

D- The traveler’s share of cash dollars will be (2000) dollars, starting from Sunday, 3/19/2023, with the possibility of using the aforementioned cards to allow citizens to cover their requests for dollars, and to avoid the citizen carrying large amounts of cash, and in line with the directions of countries of the world to leave Use cash only to a narrow extent.

E- The Central Bank of Iraq’s daily sales of cash dollars will continue at their levels, without reduction, to banks, exchange companies, and mediation companies by selling and buying authorized foreign currency, for the purpose of securing citizens’ requests for the purposes reported.

The Central Bank of Iraq called on all banks and exchange companies to communicate with money transfer companies (Western Union, Money Gram and others) to obtain a license to work in Iraq to meet the growing demands for personal transfers, with the commitment of the Central Bank of Iraq to settle their accounts with those companies at the official rate, and the Central Bank will search These companies aim to expand the base of their agents in Iraq, and these transfers may include some types of simple commercial transfers later.

And he stressed in his statement that "the transfers of gold importers and their credits to companies registered with the Central Agency for Standardization and Quality Control at the Ministry of Planning will be covered." https://www.radionawa.com/all-detail.aspx?jimare=33737

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

Bond Ladys Corner

DINARRECAPS8 3/15/23 DINARRECAPS8 3/15/23

Iraqi News Highlights Wednesday Afternoon 3-15-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance: Parliament Will Need 30-45 Days To Pass The Budget

Political Baghdad - Today, Tuesday, the Parliamentary Committee confirmed the need for 30-45 days to discuss the budget in Parliament before voting on it, indicating that there is a political consensus to pass it, while it indicated that appropriating $70 per barrel in the budget is realistic and does not cause concern.

A member of the committee, Mueen Al-Kazemi, told Al-Iraqiya News, and was followed by the Iraqi News Agency (INA), that "the draft budget approved by the government is expected to reach the House of Representatives next week, and the Council will start discussing it by the Finance Committee, and we believe that bringing it to the voting stage requires between a month and a half."

Iraqi News Highlights Wednesday Afternoon 3-15-23

Tlm724 Administrator Bondlady’s Corner

Parliamentary Finance: Parliament Will Need 30-45 Days To Pass The Budget

He added, "The Parliamentary Committee will discuss the issue of the deficit established in the budget, amounting to 64 trillion dinars, and how to cover it, and

there is political consensus to pass the budget and after examining its items and doors to start implementing what was stated in the ministerial program of the government of Prime Minister Muhammad Shia'a al-Sudani." And he continued,

"The Financial Management Law allowed the government to present a budget for (3) years, provided that the first year is obligatory, meaning that it is approved,

while it is possible to make amendments to the 2024-2025 budget, with a proposal from the Ministries of Finance and Planning and the approval of the House of Representatives."

He pointed out that "the adoption of the budget on the price of 70 dollars per barrel of oil is realistic and was determined by specialists and does not cause concern, because global expectations indicate that oil prices will stabilize within these limits or more during the current year." https://www.ina.iq/180565--30-45-.html

Al-Jubouri: All Oil Issues Have Been Settled With The Region, And We Are Waiting For Implementation

Information / Baghdad... The representative of the coordination framework, Thaer al-Jubouri, confirmed that the political parties were able to resolve the region's share in the budget, the file of oil revenues, and the mechanism for its arrival in Baghdad without repeating the previous problems. Al-Jubouri told Al-Maalouma,

"The political parties have decided the issue of the region's share in the budget, and an agreement has been reached on a ratio of 12.6, as stated in the draft budget prepared by the government." He added,

"The agreement with the region was made to deposit the revenues of the oil exported through Kurdistan in Iraqi banks and under the supervision of the federal government, in order to ensure that the revenues reach Baghdad." And he indicated that

"the political parties are still continuing understandings with the region about oil and gas, especially after the region's share and oil imports have been decided, and only some understandings remain, as Al-Sudani's visit to the region came to confirm these matters and ensure that the budget is passed without objection." https://almaalomah.me/news/politics/الجبوري:-جميع-القضايا-النفطية-حسمت-مع-الاقليم-وننتظر-التطبيق t

Prime Minister: The Budget Will Translate Into Practice The Government Program

political Today, 10:58 Baghdad - INA Prime Minister Muhammad Shia Al-Sudani confirmed, during his speech at the Sulaymaniyah Forum, today, Wednesday, that the budget will practically translate the government program.

Prime Minister Muhammad Shia al-Sudani said, during the opening of the Seventh Sulaymaniyah Forum, issued in a statement from his office, which was received by the Iraqi News Agency (INA):

“The holding of such conferences in the presence of this large gathering of researchers and those interested in Iraqi affairs is evidence of freedom of expression and the practice of life.” democracy in Iraq today. He added,

"We pledged in our government program to provide services to our people and build a strong and cohesive economy," stressing that "the achievement of large percentages of the ministerial program." He pointed out,

"The agreement on the draft budget law represents a bold step that avoids previous failures, and expresses clarity in the vision drawn for our declared goals in serving the citizen." And he stated,

"The budget is an important key to opening the doors to a solution to several problems, achieving priorities for addressing unemployment, combating poverty and corruption, and initiating economic reform." He pointed out,

"Financial and political stability paves the way for an optimal investment of our country's primary wealth, enacting the oil and gas law, and understanding with the Kurdistan region of Iraq in this regard," stressing

"the need to leave the term (unresolved problems), and replace it with terms of sustainable projects and opportunities." shared economy, for a sustainable and equitable well-being for all Iraqis. He pointed out,

"The painful memory of the heinous crime committed by the dictatorial regime against our Kurdish people in the city of Halabja is a sad occasion, and

we voted in the Council of Ministers two days ago on the project to convert it into a governorate, which is the least we can offer in return for their great sacrifices." He stressed,

"Our meetings in Erbil were fruitful, and I met a group of heads of parties and representatives of the components, and we talked without restrictions, because we - in word and deed - are people of one country and one destiny."

He praised "the efforts made to reconcile the Kurdish political leaders to unify the ranks, and we supportive of these efforts.

He continued, saying: "The strife that distorts the unity of Iraq, which sees that the strength of one of its parts is to weaken the federal government or to weaken the other components in the country, was an entry point for ISIS terrorist gangs to pounce on the heart of the state, threatening all components without exception." He explained,

"We look forward to deep and sustainable economic partnerships that bring us together with brotherly and friendly peoples, and we exchange concern for security with them. With effective and fruitful economic cooperation, only sustainable security can be established." The Prime Minister affirmed:

"We will never accept that the land of Iraq be a starting point for threatening the security of the neighborhood, and our constitution obliges us not to interfere in the affairs of others, just as we do not accept that the dignity of our land and our sovereignty be affected from the neighborhood or from others." He pointed out,

"Our government attached, early on, special importance to strengthening the border guard forces, and increased efforts to control them, prevent infiltration, and eliminate any force that seeks to destabilize, whether in the Kurdistan region or anywhere else in the land of Iraq." He stated,

"Iraq's history, geographical location, economic potential and capabilities, and the human resources it possesses, qualify it to play a pivotal role in the Middle East and the world, in order to become a regional focus." He stated by saying:

"This week was full of successes and shedding light on a humanitarian issue that links Iraq with its regional and international surroundings through our holding of the climate conference in Basra, where we sought, within our government program, to give priority to confronting the effects of climate change through a number of projects that contribute to reducing emissions, including the establishment of stations." Renewable energy, rehabilitation of closed sanitary landfill sites, desertification control projects, water-regulated irrigation techniques, and heavy water treatments. He noted,

"We have recently signed contracts for the fifth licensing round to invest associated gas and stop burning it, in order to reduce carbon emissions by large proportions, and we will continue to develop projects that convert associated gas into a source of electric energy." He added,

"We launched a major initiative to plant 5 million trees and palm trees in all governorates of Iraq, accompanied by the launch of a national guide for urban afforestation, for the first time in Iraq." He concluded by saying,

"The world can learn many lessons from the battle of the Iraqi people, with their various races and religions, in their war against terrorism." https://www.ina.iq/180604--.html

Experts Recommend A "National Program" To Restore Economic Policies

Economical 2023/03/15 Hilla: Fadel Al-Ali Economists and academics recommended defining a national program to reshape Iraqi economic policies. This came during the second joint scientific conference held by the College of Administration and Economics at the University of Babylon.

Haider al-Dulaimi, Dean of the College of Administration and Economics at the University of Babylon, told Al-Sabah that the conference, in which experts, researchers and professors of Iraqi universities participated, was held under the slogan

“Towards a national program to reshape economic policies to develop the Iraqi economy.”

He added that "the axes focused on

activating the laws related to foreign investments in Iraq, taking into account the

quality of these investments in a way that serves economic development, the

development of productive forces, the

introduction of modern productive technologies, and the

prioritization of foreign investments through a well-studied economic plan." Al-Dulaimi pointed out that

“the axes also focused on giving priority to leading projects through which it is possible to attract the largest possible number of investments, thus contributing to activating the role of these sectors in the gross domestic product and

providing an appropriate security, economic and political environment to attract foreign investments by giving sufficient guarantees.” to the owners of capital.” He pointed out that

“the conference also witnessed the financial axis and the crisis of the Iraqi dinar exchange rate, which was the result of the scarcity of the dollar in the markets, and

it is not a problem of the decline in Iraq’s dollar reserves, but on the contrary, Iraq’s dollar reserves increase daily due to the rise in global oil prices until the reserve reached to (100) billion dollars.

He believes that the solution lies in addressing the scarcity of the dollar in the local market by addressing the root of the problem, which is the

remittances that constitute up to 85% of the currency sale auction, and

not relying on dealing with cash, which constitutes only 15% of the currency sale auction, and

returning to documentary credits that guarantee the bank’s control Central control of import operations with the

activation of the standardization and quality control system with the reduction of financial and administrative corruption in the border crossings.

The conference dealt with the accounting axis in order to ensure the real implementation of the functions of the general administration of the administrative institutions, as the administrative institutions need to improve internal control as a main content of the internal control of the administrative institutions. the public. https://alsabaah.iq/73357-.html

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

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Dinar Recaps 20 3/15/23 Dinar Recaps 20 3/15/23

"Tidbits From TNT" Wednesday Morning 3-15-2023

TNT:

Tishwash: Al-Rafidain sets the sale of two thousand dollars to travelers, starting next Sunday

Al-Rafidain Bank announced that the sale of the dollar to travelers will be limited to 2,000 dollars instead of 7,000, as of Sunday, 3/19/2023, at the official price of 1,320 dinars.

And the bank’s media stated in a statement received by {Euphrates News}: “Based on the directives of the Central Bank of Iraq, Al-Rafidain Bank announces that the sale of dollars to travelers will be limited to 2,000 dollars instead of 7,000, as of Sunday, 3/19/2023, at the official price of 1,320 dinars. Cash dollar 2000 dollars.

And the bank confirms that "the deposit of the Iraqi dinar for travelers will be through the designated branches and according to the instructions announced earlier." link

TNT:

Tishwash: Al-Rafidain sets the sale of two thousand dollars to travelers, starting next Sunday

Al-Rafidain Bank announced that the sale of the dollar to travelers will be limited to 2,000 dollars instead of 7,000, as of Sunday, 3/19/2023, at the official price of 1,320 dinars.

And the bank confirms that "the deposit of the Iraqi dinar for travelers will be through the designated branches and according to the instructions announced earlier." link

CandyKisses: Al-Sudani: The outstanding problems with the region must be left and we succeeded in making the budget for three years

{Politician: Euphrates News} Prime Minister Mohammed Shia Al-Sudani stressed the departure of the "stuck problems" between Baghdad and the Kurdistan region.

Al-Sudani said in his speech during the opening of the 7th Sulaymaniyah Forum today: "The holding of such conferences in the presence of such a large gathering of researchers and those interested in Iraqi affairs is evidence of freedom of expression and the practice of democratic life in Iraq today."

He added, "We pledged in our government program to provide services to our people and build a strong and cohesive economy and we were able to achieve large percentages of the ministerial program," noting that "the agreement on the draft budget law represents a bold step, avoiding previous failures, and expressing clarity in the vision set for our stated goals in serving the citizen."

Al-Sudani pointed out that "the budget is an important key to open the doors of solution to several problems, achieve priorities to address unemployment, combat poverty and corruption, and initiate economic reform," noting that "financial and political stability paves the way for optimal investment of our country's first wealth, legislate the oil and gas law, and understanding with the Kurdistan region of Iraq in this regard."

He called for "departure of the term {stuck problems}, and replace it with terms of sustainable projects, and common economic opportunities, for the sustainable and equitable well-being of all Iraqis."

"The painful memory of the heinous crime committed by the dictatorial regime against our Kurdish people in the city of Halabja is a sad occasion, and we voted in the cabinet two days ago on the project to turn it into a province, which is the least we can offer in exchange for their great sacrifices," he promised.

The Prime Minister pointed out that his meetings in Erbil yesterday "were fruitful, and I met a group of party heads and representatives of the components, and we had an interview without restrictions, because we are - in word and deed - the sons of one homeland, and one fate."

“He praised the efforts made to reconcile the Kurdish political leaders to unite the ranks, and we are supportive of these efforts.”

Al-Sudani said: "The distorted lightnings of the unity of Iraq, which believes that the strength of part of its parts is to weaken the federal government or by weakening other components in the country, were an entry point for the terrorist organization ISIS to attack the heart of the state, threatening all components without exception."

He looked forward to “deep and sustainable economic partnerships, bringing us together with brotherly and friendly peoples, and sharing security with them, with effective and fruitful economic cooperation, can only establish sustainable security.”

He stressed, "We will never accept that the land of Iraq is a starting point to threaten the security of the neighborhood, and our constitution obliges us not to interfere in the affairs of others, just as we do not accept to affect the dignity of our land and sovereignty from the neighborhood or without it."

He pointed out that his government "at the early part attached special importance to strengthening the border guard forces, and increased efforts to control them and prevent infiltration, and eliminate any force that seeks to destabilize, whether in the Kurdistan region or anywhere else in the territory of Iraq," noting that "Iraq's history, geographical location, capabilities, economic capabilities and human resources qualify it to play a pivotal role in the Middle East and the world to become a regional anchor."

"This week was full of successes and highlighting a humanitarian issue linking Iraq to its regional and international environment through our holding the climate conference in Basra," he continued.

Al-Sudani said: "We have seeked within our government program to give priority to addressing the effects of climate change through a number of projects that contribute to reducing emissions, including the establishment of renewable energy plants, rehabilitation of closed sewage sites, projects to combat desertification, metered irrigation technologies for water, and heavy water treatments."

"We recently signed contracts for the fifth licensing round to invest and stop burning associated gas, to reduce carbon emissions by large proportions, and we will proceed to develop projects that turn associated gas into a source of electric power," he added.

He pointed out that "it launched a major initiative to plant 5 million trees and palm trees throughout the governorates of Iraq, accompanied by the launch of a national guide to urban afforestation for the first time in Iraq."

Al-Sudani concluded his speech by saying: "The world can learn many lessons from the battle of the Iraqi people, of all their races and religions, in their war against terrorism."

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

Tishwash: Iraq announces 7 investment opportunities in the oil refining sector and refining industries

The Ministry of Oil announced, on Wednesday, 7 investment opportunities in the refining and refining industries sector.

The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, said in a statement received by Shafaq News Agency during the event of announcing investment opportunities for refining sector projects and refining industries in Iraq, that "the ministry is keen to increase national production from refining capacities and cover the local need for oil products, and transform Then to export the surplus to foreign markets, and gradually Iraq turns from an importing country to a source of oil products.

He pointed out that "the announcement of investment opportunities represents a shift in the strategy of the government and the ministry towards encouraging foreign investments in the crude oil refining and refining sector, and opening new horizons for international companies and local private sector companies specialized in this field."

The Minister of Oil added, "The Ministry of Oil, in cooperation with the National Investment Commission, has prepared a promising program to announce a group of investment opportunities in the refining industries sector."

And he announced “seven investment opportunities, three of which will open for submission as of today, March 15, 2023, and similarly, three others will be submitted for early next April 2, while we will announce another investment opportunity at a later time.”

And Abdul-Ghani indicated that “the investment opportunities that the Ministry of Oil announces today in cooperation with the National Investment Commission, and the submission of these investment opportunities will be as of today, March 15, 2023, and they are:

1- The Maysan Investment Refinery Project in Maysan Governorate, with a capacity of one hundred and fifty thousand barrels per day.

2- The Qayyarah investment refinery project in Nineveh governorate, with a capacity of seventy thousand barrels per day.

3- The black oil hydrogenation project in Basra Governorate, with a capacity of thirty thousand barrels per day.

As for the other three investment opportunities... namely

1- The Nasiriyah Refinery Investment Project in Dhi Qar Governorate, with a capacity of one hundred and fifty thousand barrels per day.

2- The Al-Kut Refinery Investment Project in Wasit Governorate, with a capacity of 100,000 barrels per day.

3- The Samawah investment refinery project in Al-Muthanna Governorate, with a capacity of seventy thousand barrels per day.

Submissions to purchase information kits for these opportunities will be opened as of April 2, 2023.

- As for the Haditha investment refinery in Anbar Governorate, with a capacity of seventy thousand barrels per day, the date for submission will be determined at a later date.

A chapter on the existence of other investment opportunities, which will be announced at a later time as well.

For his part, the head of the National Investment Commission, Haider Muhammad Makiya, expressed his hope that these investment opportunities would achieve their goals, and said that the commission provides full support to the investing parties in cooperation with the Ministry of Oil.

He added that investing in the refining industries sector contributes to supporting the national economy and sustainable development, and that it is an important step by the government and the ministry to advance these vital sectors.

While the Undersecretary for Liquidation Affairs, Hamed Younes, said that announcing investment opportunities contributes to increasing the refining capacity of Iraq, improving the specifications of oil products, and achieving the goals and plans of the ministry in covering the local need and shifting towards export. Yunus noted the importance of announcing these opportunities in advancing the reality of the oil industry, and its great effects on the economic and developmental reality.

In turn, the spokesman for the Ministry of Oil, Assem Jihad, said that the nomination of these investment opportunities came based on a realistic study by the concerned authorities in the ministry, due to the actual and urgent need of the concerned governorates, and also to achieve the ministry's goals in increasing national production of refining capacities and improving their quality according to approved international standards. And by adopting environmental and health standards.

And he added that this package of important projects in the refining industries sector represents a promising step to achieve the goals of sustainable development, by advancing the economic reality of the governorates, working to increase their financial revenues, and providing job opportunities for their people and other service sectors.

Jihad referred to the Ministry's call for international and local investment companies who find themselves capable and competent to quickly submit their papers to the Ministry, in accordance with the conditions and instructions of this round of investment opportunities in the refining and refining industries sector, pledging to provide all kinds of support and attribution to the investing parties in order to achieve the goals. common. link

Mot: ... Sooooo - How is U Ajusting !!!

Mot: ..... Guys!! -- Word of Caution!!! ~~~~

DINARRECAPS8 3/15/23 DINARRECAPS8 3/15/23

Wednesday Morning Iraq Economic News Highlights 3-15-23

Al-Sudani At The Sulaymaniyah Forum: The Budget Will Practically Translate The Government Program

Policy |Baghdad today – Sulaymaniyah Prime Minister Mohamed Shia Al-Sudani confirmed today, Wednesday, that the 2023 budget will be practically translated into the government program.

Al-Sudani said at the Sulaymaniyah Forum conference and its follow-up (Baghdad Today), that "the budget will be practically translated into the government program," stressing that "the government has adopted a ministerial program that pledges to provide services to citizens."

Wednesday Morning Iraq Economic News Highlights 3-15-23

Al-Sudani At The Sulaymaniyah Forum: The Budget Will Practically Translate The Government Program

Policy |Baghdad today – Sulaymaniyah Prime Minister Mohamed Shia Al-Sudani confirmed today, Wednesday, that the 2023 budget will be practically translated into the government program.

He added that "we have achieved great percentages in the items of the ministerial program," noting that "for the first time we have succeeded in making the budget for three years, and that the general Maronites will combat poverty and provide services."

He pointed out that "during the short life of Omar, we were able to accomplish many tasks," explaining that "the oil and gas law will see the light soon."

Al-Sudani affirmed that "Iraq is not subject to division, and we will not accept that the land of Iraq be a starting point for threatening neighboring countries."

He went on to say that "Iraq will not be a corridor for aggression against neighboring countries, and everyone must respect our sovereignty," stressing that "Iraq must be stable, far from conflicts." LINK

The Rise In The Exchange Rates Of The US Dollar Against The Iraqi Dinar

Today, Wednesday, the exchange rates of the US dollar against the Iraqi dinar rose on the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 157,100 Iraqi dinars for 100 US dollars this morning. While the prices on Tuesday morning were 154,750 dinars for 100 dollars.

In addition, the buying and selling prices decreased in the exchange shops in the local markets in Baghdad, where the selling price reached 158,000 Iraqi dinars per 100 US dollars, while the buying prices amounted to 156,000 Iraqi dinars per 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the dollar prices also recorded an increase, as the selling price of the dollar reached 157,100 dinars per 100 US dollars, and the purchase price reached 156,100 dinars per 100 US dollars. LINK

Parliament Is Waiting For The Budget To Arrive Early Next Week And Is Not Satisfied With Its Deficit

2023-03-15 By Sotaliraq Baghdad / Firas Adnan The Parliamentary Finance Committee expects to receive the draft budget law early next week, describing the deficit that it included as large, but indicated the possibility of extinguishing it through the abundance of oil, stressing that the previous agreements between the state administration coalition are sufficient to pass the law quickly and not disrupt it.

Committee member Mueen Al-Kadhimi said, "The Council of Ministers voted yesterday on the draft budget law for three years."

Al-Kazemi added, "Parliament will receive the project at the beginning of next week, and thus the Finance Committee is studying it."

He pointed out, "The project includes an amount of 197 trillion Iraqi dinars, 150 trillion dinars has been allocated for the operational part, and this amount will go to salaries, ration cards, social care and operating expenses of the ministries."

Al-Kazemi pointed out, “The allocation of 47 trillion dinars to the investment part, and it relates to large projects from the port of Faw, electricity contracts signed with Siemens and General Electric, the development of regions and governorates, projects of ministries, and the construction of schools and hospitals.”

He explained, "The deficit will be about 63 trillion dinars, which is a large amount that the government will seek to cover through the price of oil or raising production quantities from Iraqi wells, in addition to the previous financial abundance."

And Al-Kazemi added, "Parliament will have a period ranging from one month to 45 days to ratify the draft budget law in order to implement it."

And he stressed, “The new thing that happened is to make this budget for three years,” stressing that “this measure is taken for the first time after 2003, and this is permitted in accordance with what was stipulated in the amended Financial Management Law No. 6 of 2019.”

Al-Kazemi hopes that “the deputies will feel responsible and speed up the approval of the budget,” stressing that “the government took about five months when preparing the budget.”

He sees the possibility of “passing the budget easily, depending on the political agreements of the state administration coalition, which has the largest number of deputies.

And Al-Kazemi continues, “The previous dilemma, which was regarding the share of the Kurdistan region and its obligations, has ended in this budget, after providing a number of guarantees.”

And he added, “The budget has allocated a fund and sufficient sums of money for the reconstruction of the liberated areas, and other funds have been allocated for the reconstruction of the poorest areas in the center and south.”

Al-Kadhimi stressed, "The financial distribution of the project between the governorates creates a kind of consensus between the large political blocs that helps pass the budget." He finds that “resorting to passing a budget for three years is new,” but he considers this development to be positive, as it “leads to a state of stability in the annual budget, which is always disrupted.”

Al-Kadhimi expressed his optimism about what has been achieved so far, and he expects that “things will proceed in a positive way until the law is passed in this encouraging atmosphere.”

And he added, “The contents of the budget have not reached us until now, so what we received is a summary prepared by the Ministry of Finance regarding the foundations of this law, but we do not know the details related to job grades and others.”

And Al-Kazemi concluded, that “detailed matters related to job grades, decisions, and instructions have not been reviewed by Parliament until the present time, and they are awaiting the draft to be officially received from the Council of Ministers.” For his part, MP Muhammad al-Ziyadi stated that “drawing the state’s financial policy is one of the tasks of the Council of Ministers.”

Al-Ziyadi continued, "The House of Representatives is the one who approves the government's financial projects, especially the draft budget law."

He pointed out, "Iraq suffers from many problems in the liberated and deprived provinces, and it needs to speed up the budget law."

Al-Ziyadi stressed, “The House of Representatives is discussing the draft that the government sent for the budget, by presenting it for the first reading and then proceeding with the discussions until the vote.”

And he believes, “The law does not prevent the government from submitting a draft budget that is allocated for three years, the first of which is compulsory, and the remaining two years that the Council of Ministers may amend based on a draft that Parliament votes on.”

Al-Ziyadi concluded that “Parliament will discuss the law carefully and hold meetings with all concerned before voting on it.” LINK

An Economist Warns: The Budget Will Enter The Critical Path In This Case

Economy| 12:24 - 03/15/2023 Baghdad - Mawazine News, economist Nabil Al-Marsoumi revealed today, Wednesday, that the two paragraphs of employee salaries and social care in the 2023 budget amount to more than 87 trillion dinars.

Al-Marsoumi wrote on his Facebook page, “The budget will enter the critical path if the price of Brent crude drops to about $60 a barrel, as the oil revenues will then be sufficient to cover only the two paragraphs of employee salaries and social welfare, which amount to more than 87 trillion dinars in the 2023 budget! !!”

And Prime Minister Muhammad Shia al-Sudani announced, yesterday, Monday, that the total budget for the year 2023 amounts to more than 197 trillion dinars, with a fiscal deficit of 63 trillion dinars. Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=221953

Al-Sudani: Iraq Is Indivisible.. We Refuse To Use Our Lands To Threaten Neighboring Countries

Policy 2023-03-15 | 03:49 1,275 views Alsumaria News – Politics The Prime Minister, Muhammad Shia' al-Sudani, confirmed that Iraq is indivisible, and the Iraqi force follows from the constitution, while refusing that Iraqi lands be a starting point for threatening neighboring countries.

Al-Sudanese said at the Sulaymaniyah Forum, which was followed by Al-Sumaria News: "We pledged in our government program to provide services to our people and build a strong, cohesive economy, and we were able to achieve large percentages of the ministerial program."

He added, "The agreement on the draft budget law represents a bold step that avoids previous failures, and expresses clarity in the vision drawn for our declared goals in serving the citizen."

He pointed out that "the budget is an important key to opening the doors to a solution to several problems, achieving priorities for addressing unemployment, combating poverty and corruption, and initiating economic reform."

Al-Sudani stated, "Financial and political stability paves the way for an optimal investment of our country's primary wealth, the legislation of the oil and gas law, and the understanding with the region."Kurdistan Iraq In this regard.”

He continued, “Let us leave the term “unresolved problems” and replace it with terms of sustainable projects and joint economic opportunities for the sake of a sustainable and just welfare for all Iraqis.

Al-Sudani added, "The painful memory of the heinous crime committed by the dictatorial regime against our Kurdish people in the city of Halabja is a sad occasion. Our vote is in Council of Ministers Two days before the project to transform it into a governorate, which is the least we can offer in return for their huge sacrifices.”

And he added, “Our meetings in Erbil were fruitful, and I met a group of party heads and representatives of the components, and we talked without restrictions, because we are - in word and deed - children of one nation, and one destiny One.”

Al-Sudani praised the “efforts made to reconcile the Kurdish political leaders to unify the ranks, and we support these efforts.”

He pointed out that “sectarianism distorted unity Iraq, which believes that the strength of one of its parts is to weaken the federal government or to weaken the other components in the country, was a gateway to the terrorist organization ISIS to pounce on the heart of the state, threatening all components without exception.

"We look forward to deep and sustainable economic partnerships that bring us together with peoples Brotherly and friendly, and we exchange concern for security with them, with effective and fruitful economic cooperation, only the foundation for sustainable security can be established

.Iraq A starting point for threatening the security of the neighborhood, and our constitution obliges us not to interfere in the affairs of others, just as we do not accept that the dignity of our land and our sovereignty be affected from the neighborhood or from others.”

And he indicated that “his government attached, early on, special importance to strengthening the border guard forces, and increased efforts to control them and prevent infiltration , and the elimination of any force that seeks to destabilize, whether in a region Kurdistan or anywhere else in the world Iraq

Al-Sudani added, “ History Iraq Its geographical location, its economic potential and capabilities, and the human resources it possesses, qualify it to play a pivotal role in the Middle East and the world; in order to become a regional focal point.

”Iraq In its regional and international surroundings, through our holding of the Climate Conference in Basra.”

He added, “We sought, within our government program, to give priority to confronting the effects of climate change through a number of projects that contribute to reducing emissions, including the establishment of renewable energy stations, the rehabilitation of closed sanitary landfill sites, desertification control projects, and technologies

We have recently signed contracts for the fifth licensing round to invest associated gas and stop burning it, in order to reduce carbon emissions by large proportions, and we will continue to develop projects that convert associated gas into a source of electric energy

. major plantation of 5 million trees and palm trees in all governorates Iraq Accompanied by the launch of a national guide to urban afforestation for the first time in Iraq The Prime Minister concluded ,

"The world can learn many lessons from the battle of the Iraqi people, with their various races and religions, in their war against terrorism." LINK

Counselor Mazhar Saleh: Preparing A Budget For 3 Years Provides A Vision For Iraq's Financial Future

March 14, 2023 Baghdad / Obelisk: The financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that the government's preparation of a budget for 3 years provides a vision for Iraq's financial future.

During his attendance at a conference organized by the College of Administration and Economics at the University of Karbala, Saleh said that the amended Financial Management Law No. 6 of 2019 in force talks about the annual budget, and that it is okay for the state to present a financial plan, containing estimates and forecasts for the coming years, so that the House of Representatives and legislators have a vision On how the state's financial affairs are going, pointing out his support for this trend.

He added that the draft approval of the budget for the coming years by the Council of Ministers remains indicative and is subject to modification depending on oil prices and the nature of revenues and expenditures in the coming years.

As for the budget for 2023, it remains the law, indicating that the initiation of approving a budget for the next three years gives the legislator a vision for the future of Iraq. finance in the medium term to prepare for all possibilities.

For his part, the President of the University of Karbala, Bassem Khalil Al-Saeedi, confirmed during his participation in the conference that one of the university's goals is to contribute to solving community crises and communicating with state departments and ministries, explaining that the College of Administration and Economics this year sought to contribute to how to find solutions and maximize the state's resources away from oil.

He pointed out that the participating researches in the conference are proposals that contribute to maximizing the country's resources, expressing his hope that the government will take these proposals into consideration to start developing the country's economy in the near future.

The Deputy Secretary-General of the Husseiniya Shrine, Ala Diaa Al-Din, said that Iraq possesses human and financial energy, and the Husseiniya Shrine sponsored this conference and gave it great attention, and through it it seeks to find economic programs that are in the interest of the Iraqi economy, as well as benefiting from the minds, research and reports participating in the conference to develop its projects. https://almasalah.com/archives/46673

Expert On Preparing Budgets For 3 Years In One Go: Lack Of Accuracy

2023.03.14 - Baghdad - people On Tuesday, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, commented on preparing budgets for 3 years in advance.

Al-Marsoumi said in a clarification followed by “NAS” (March 14, 2023), that “there are four rules in public finance that govern the preparation of the budget, namely: unity, generality, balance, and annuality, and the purpose of the last rule is to facilitate the legislative authorities’ control of the budget, especially since all economic variables are calculated on An annual basis, such as rates of economic growth, employment, poverty, debt, and others, and because organizing them on an annual basis gives them more accuracy in estimates of expenditures and revenues that are characteristic of modern budgets, which is lacking in budgets that are established for periods of time greater than the year. Therefore, the world prepares its general budgets on an annual basis. ".

He added, "Otherwise, they are budgets that lack accuracy, especially in rentier countries such as Iraq, whose budgets control the price of oil, which is an external variable that is difficult to control and determine its directions."

And the Council of Ministers announced, earlier, its approval of the draft budget law for the fiscal years 2023, 2024 and 2005.

A statement by the media office of the Prime Minister, of which "NAS" received a copy, stated (March 13, 2023), that "the Council of Ministers approved the draft federal budget law for the fiscal years 2023, 2024 and 2025, in its regular session held under the chairmanship of Prime Minister Muhammad Shia'a Al-Sudani and refers it to to the House of Representatives.

Earlier, the Council of Ministers held its regular session, headed by Prime Minister Mohamed Shia Al-Sudani. A statement by the media office of the Prime Minister, of which "NAS" received a copy, stated (March 13, 2023), that "the Council of Ministers held its regular session headed by Prime Minister Muhammad Shia' al-Sudani." The statement added, "The session will include a discussion of the draft federal budget law." https://www.nasnews.com/view.php?cat=103833

DINARRECAPS8 3/14/23 DINARRECAPS8 3/14/23

Iraqi News Highlights Tuesday Afternoon 3-14-23

Tlm724 Administrator Bondlady’s Corner

Nechirvan Barzani Receives A Letter From The US Secretary Of State

Posted On 2023-03-14 By Sotaliraq The President of the Kurdistan Region, Nechirvan Barzani, received a message from US Secretary of State Anthony Blinken, in which he expressed his happiness at the dialogue that took place between them at the Munich Security Conference held last February.

A statement issued by the regional presidency today, Tuesday, stated that the minister indicated that this was an opportunity to stress the need to find a final solution to the outstanding problems between Erbil and Baghdad through dialogue and understanding.

Iraqi News Highlights Tuesday Afternoon 3-14-23

Tlm724 Administrator Bondlady’s Corner

Nechirvan Barzani Receives A Letter From The US Secretary Of State

In his message, Blinken emphasized that solid cooperation and partnership link America with federal Iraq and the Kurdistan Region, expressing his country's commitment and continuous support for Iraq and the stability, security and sovereignty of Iraq. LINK

The Decline In The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange

Iraq Tuesday, March 14, 2023 4:15 PM Baghdad / The National News Center The exchange rates of the US dollar decreased against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 155,600 Iraqi dinars against 100 dollars, while the prices recorded this morning were 156,000 dinars against 100 dollars.”

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 156,000 Iraqi dinars, while the purchase prices reached 155,000 dinars per 100 dollars." https://nnciraq.com/193146/

Al-Sudani Confirms Work To Ease Registration Procedures On The Electronic Platform At The Central Bank

Tuesday 14 March 2023 09:53 | Economical Number of readings: 425 Baghdad / NINA / - Prime Minister Muhammad Shia'a Al-Sudani affirmed work to ease registration procedures on the electronic platform at the Central Bank.

In his communication with citizens through the Al-Watan and Al-Nas program from Al-Iraqiya channel, Al-Sudani stressed: "The importance of finding solutions to citizens' problems and addressing them as soon as possible."/ End 2 https://ninanews.com/Website/News/Details?key=1040297

Central Bank Sales Drop To 176 Million Dollars

Economy News-Baghdad The Central Bank announced, on Tuesday, the sale of 176 million dollars through the currency sale window.

The bank stated in statistics on its website that "the total amounts of transfers abroad (remittances, credits) 120.2 million dollars.

He added, "The total amount of cash sales is 56.6 million dollars, and the total sales amount is 176.9 million dollars."

He pointed out that "the price of selling amounts of documentary credits and international settlements for electronic cards is (1305) dinars per dollar," noting that "the price of selling amounts of transfers abroad is (1310) dinars per dollar, and the price of cash sales is (1310) dinars per dollar."

https://economy-news.net/content.php?id=32921

Oil Continues To Lose Amid Fears Of A New Financial Crisis

Economy| 10:33 - 03/14/2023 Follow-up - Mawazine News Oil prices fell by more than a dollar, on Tuesday, extending their losses for the second session, as the collapse of the Silicon Valley Bank led to a shock in the stock markets and raised fears of a new financial crisis.

Brent crude futures fell 87 cents, or 1.1 percent, to $79.90 a barrel by 0345 GMT. West Texas Intermediate crude futures fell 85 cents, or 1.1 percent, to $73.93 a barrel.

Yesterday, Brent fell to its lowest level since early January, while WTI fell to its lowest level since December.

The sudden closure of SVB Financial Group raised concerns about the risks faced by other banks due to the waves of sharp increases in interest rates approved by the US Federal Reserve over the past year. It also sparked speculation about whether the central bank would slow down the pace of monetary tightening.

US authorities launched emergency measures on Sunday to boost confidence in the banking system after fears of contagion from the collapse of the Silicon Valley bank led to a wave of selling in US assets at the end of last week, and regulators closed New York-based Signature Bank on Sunday.

Leon Lee, an analyst at CMC Markets, said that in addition to the repercussions of the Silicon Valley bank crisis, oil prices are also under pressure due to signs that the Chinese economy is recovering at a weaker-than-expected pace, despite the lifting of its strict restrictions related to the pandemic.

"The market was expecting a strong recovery of the Chinese economy, but the latest inflation figure in February was only 1 percent year on year, which reflects the current deflationary state of the Chinese economy and weak demand," he added.

The American Petroleum Institute is expected to release US oil inventories data on Tuesday.

Six analysts polled by Reuters expected an increase in US crude stocks by about 600,000 barrels in the week ending March 10. https://www.mawazin.net/Details.aspx?jimare=221851

In The Document, "Faisal Al-Haimus" Was Assigned As Deputy Governor Of The Central Bank

Economy| 02:09 - 03/14/2023 Baghdad - Mawazine News, Prime Minister Muhammad Shia Al-Sudani appointed Faisal Al-Haimus as Deputy Governor of the Central Bank of Iraq. https://www.mawazin.net/Details.aspx?jimare=221879

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

https://www.bondladyscorner.com/

Dinar Recaps 20 3/14/23 Dinar Recaps 20 3/14/23

"Tidbits From TNT" Tuesday AM 3-14-2023

TNT:

Tishwash: Vietnam discusses Increasing Trade with Iraq

Iraq's Ministry of Trade held a meeting with a delegation from the Vietnamese embassy in Tehran to discuss joint cooperation in commercial and economic aspects, including the supply of rice, tea, construction materials, and machinery.

They also discussed the possibility of holding the nineteenth meeting of the Iraqi-Vietnamese Joint Committee, and inviting the Vietnamese side to participate in the next Baghdad International Fair.

The Vietnamese delegation expressed gratitude and emphasized the importance of communication between the two sides to increase opportunities for cooperation in the future. link

TNT:

Tishwash: Vietnam discusses Increasing Trade with Iraq

They also discussed the possibility of holding the nineteenth meeting of the Iraqi-Vietnamese Joint Committee, and inviting the Vietnamese side to participate in the next Baghdad International Fair.

The Vietnamese delegation expressed gratitude and emphasized the importance of communication between the two sides to increase opportunities for cooperation in the future. link

CandyKisses: Imam al-Sistani's office expects to see the crescent of Ramadan

{Local: Al-Furat News} The Office of the Supreme Religious Authority, Grand Ayatollah Imam Sayyid Ali Al-Sistani, predicted the sighting of the crescent of the blessed month of Ramadan, for the Hijri year 1444-2023 AD.

According to the holy month of Ramadan, published today by the Office of the Supreme Reference, "the crescent of the blessed month of Ramadan is expected to be on the evening of Wednesday, March 22."

He pointed out that "the crescent is expected to be seen with the naked eye at this date."
Imam Sistani's office also predicted that "the month of Shawwal (Eid al-Fitr) will be on the evening of Friday, April 21, and it is expected to see a very clear height and is not expected to be seen in the evening of the previous day."

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CandyKisses: NATO plans to launch new projects in Iraq, including its support in the field of cybersecurity

Shafaq News / Deputy Prime Minister and Foreign Minister Fouad Hussein discussed today, Tuesday, with the commander of the NATO mission in Iraq, Lieutenant General Giovanni Ianucci, the launch of a number of new projects in the country, including his support in the field of cybersecurity.

This came during Hussein’s meeting of Lieutenance Ianucci, according to a statement from the Iraqi Foreign Ministry.

The statement stated that during the meeting, the tasks carried out by the NATO mission in Iraq were reviewed, which are training the Iraqi security forces and providing military advice in cooperation with the Ministry of Defense and the National Security Adviser, as well as the start of new projects, including supporting Iraq in the field of cybersecurity.

The importance of the minister’s upcoming visit to Brussels this month, and his meeting with NATO Secretary-General Jens Stotlberg, was also discussed, according to the statement.

For his part, Lieutenant General Ianucci expressed his happiness with the fruitful cooperation between the concerned Iraqi authorities and the NATO mission in Iraq in facilitating the mission's tasks to achieve its desired goals, noting the importance of the security and stability of Iraq for the region and NATO.

He stressed the alliance's desire to consolidate relations with Iraq in the next stage at the political level, and not to be limited to the military and security level.

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Tishwash: Sudanese arrives in Erbil

The Prime Minister, Mr. Muhammad Shia'a Al-Sudani, arrives in the city of Erbil on a visit to the Kurdistan Region of Iraq, accompanied by a government delegation.

Today, Tuesday, the Prime Minister, Muhammad Shia'a al-Sudani, arrived with a government delegation to Erbil Governorate.

The media office of the Prime Minister stated, in a brief statement received by (Baghdad Today), that "Prime Minister Muhammad Shia' al-Sudani arrived in the city of Erbil on a visit to the Kurdistan region of Iraq, accompanied by a government delegation."

Earlier in the day, the Kurdistan Regional Government announced the date of Al-Sudani's arrival in Erbil.

The media office of the head of the regional government stated, in a statement received by (Baghdad Today), that "the President of the Kurdistan Regional Government, Masrour Barzani, receives, at one thirty in the afternoon, the Federal Prime Minister, Muhammad Shia' al-Sudani, in an official reception ceremony at Erbil International Airport."

According to Kurdish media, the Prime Minister arrives today in the city of Erbil, to meet with President Barzani, the President of the Kurdistan Region, Nechirvan Barzani, and Prime Minister Masrour Barzani.

According to the Kurdish media, Al-Sudani is scheduled to visit Sulaymaniyah to attend the American University meeting there. link

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Tishwash: another article

The Prime Minister, Muhammad Shia' al-Sudani, arrived today, Tuesday afternoon, in the city of Erbil, on a visit to the Kurdistan Region of Iraq, accompanied by a government delegation.

Shafaq News agency reporter said that the prime minister of the region, in addition to a number of Kurdish ministers and officials, received Al-Sudani and the government delegation accompanying him at Erbil International Airport.

He added that Al-Sudani will hold meetings with officials in the region to discuss differences and outstanding issues between Baghdad and Erbil.

It is scheduled that Nechirvan Barzani, President of the Kurdistan Region, will receive Iraqi Prime Minister Muhammad Shia Sudanese, later this afternoon.

Yesterday, Monday, Al-Sudani announced that an agreement had been reached to end the dispute between Baghdad and Erbil over the Kurdistan Region's oil revenues.

"An agreement was reached to solve the problems between the center and the region regarding oil and gas by putting the revenues from the region's oil in a bank," Al-Sudani said during a press conference held today after the cabinet session, which was attended by Shafaq News agency.

He added, "For the first time, we reached an agreement that the region's oil revenues be deposited in one account and authorize the region's prime minister and the federal prime minister to monitor the account, and there will be a committee that will submit its recommendations to the federal prime minister to take the appropriate decision."

The oil export and revenue file in the Kurdistan Region is one of the most prominent points of contention between Baghdad and Erbil, and it was usually used as a card for political escalation when relations between the center and the region soured.

The dispute over this file escalated after the Federal Supreme Court (the highest judicial authority in Iraq) issued on February 15, 2022 a ruling that the oil and gas law in the Kurdistan Regional Government was unconstitutional.

The Federal Court obligated the Kurdistan Regional Government to hand over oil imports to Baghdad, which sparked angry reactions from the region during a period that was essentially serious political tension, as the ruling was issued in conjunction with the height of the political impasse that followed the early elections in October 2021.

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