DINARRECAPS8 4/9/23 DINARRECAPS8 4/9/23

Iraqi News Highlights Sunday Evening 4-9-23

Tlm724 Administrator Bondlady’s Corner

Deputy Speaker: The Budget Will Be Approved Soon

Political | 02:36 - 09/04/2023 Baghdad - Mawazine News, First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, confirmed, on Sunday, that the budget includes many sections and paragraphs related to the development of infrastructure and projects.

Al-Mandalawi's office stated in a statement, "The First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, received today a number of sheikhs and notables in the New Baghdad region."

Tlm724 Administrator Bondlady’s Corner

Deputy Speaker: The Budget Will Be Approved Soon

Al-Mandalawi's office stated in a statement, "The First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, received today a number of sheikhs and notables in the New Baghdad region."

Al-Mandalawi stressed, according to the statement, "the importance of permanent follow-up to the file of services and the development of infrastructure, in a way that guarantees a decent life for citizens," noting that "the next budget, which the House of Representatives has completed its first reading, will be approved soon."

He pointed out that "the budget will include many sections and paragraphs for the development of infrastructure and service projects for Baghdad and the provinces in line with the ministerial platform of the national service government." https://www.mawazin.net/Details.aspx?jimare=224151

Iraq And The World Bank Agree To Accelerate The Implementation Of Projects In The Poorest Areas

Economy| 12:43 - 09/04/2023 Baghdad - Mawazine News, Deputy Prime Minister and Minister of Planning Muhammad Ali Tamim met, on Sunday, the representative of the World Bank in Iraq, Richard Abdel Nour, and his accompanying delegation.

The two sides discussed "mechanisms of work in implementing service projects in the poorest regions and villages, which are implemented by the Ministry of Planning, within the Social Fund for Development funded by a loan from the World Bank, and the two parties agreed to work jointly to develop appropriate mechanisms that would accelerate the pace of work in completing these projects." The projects because of their importance in enabling the people of the included villages to obtain basic services.

The meeting also witnessed, according to a statement by the Ministry of Planning, "a discussion of joint work between the Ministries of Planning and Finance and the World Bank to develop appropriate mechanisms and instructions that would address and overcome all problems facing the implementation of projects funded by the World Bank and international organizations." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=224138

Significant Rise In Central Bank Sales Of The Dollar

Economy| 12:57 - 04/09/2023 Baghdad - Mawazine News The Central Bank of Iraq's sales of dollars increased in an auction today, Sunday, to record more than 281 million dollars. https://www.mawazin.net/Details.aspx?jimare=224140

Commerce Announces The Launch Of The Electronic Ration Card And Calls On Citizens To Update Their Data

Money and business Economy News / Baghdad Today, Sunday, Minister of Commerce, Atheer Daoud Al-Ghurairy, announced the launch of the electronic ration card, while calling on all citizens to update their data.

Al-Ghurairy said in a press conference held at the ministry's building: "In implementation of the government program, the Ministry of Commerce launched the electronic ration card by forming a work team headed by the minister and supervising undersecretaries and general managers," noting that "each general manager will be a supervisor of a governorate and empowered with all powers, as All committees have been configured and the electronic ration printing has begun and data has been updated.

The Minister of Commerce called on "citizens in all governorates to update their data during this week in the ration centers using the unified card issued by the Ministry of the Interior," noting that "the electronic ration card will be a substitute for the unified card."

He added, "The benefit of the ration card is through it the transition from the paper card stage to electronic updating and control of public money in all governorates," pointing out that "the experiment succeeded in the honorable Najaf, and more than 15,000 dead or travelers were discovered, and the agents receive the ration instead of them." ".

He continued, "The card provides a service through the ease of adding a son or wife, or transferring a place, and it is possible to add him while he is at home through an electronic application that eliminates the need for review."

He stressed that "the Ministry of Commerce has completed all its procedures and transferred them to the National Data Center, and after completing its audit, the registration of companies will be converted to electronic and paperless dealings," directing "the ministry's departments to move to electronic payment in the coming weeks."

He stated that "this is considered the first step to eliminate corruption through slackness in performance, procrastination, procrastination, and the procedures on which corruption is built," noting that "the ministry has completed the previous steps and what it promised by distributing food baskets on time, adding other materials and improving them, and that the coming days We will witness harsher accountability for violators."

And he indicated that "Baghdad and the provinces will witness marketing complexes, and the Ministry of Commerce will restore its real role in providing materials at subsidized prices in cooperation with the private sector." https://economy-news.net/content.php?id=33448

A Continuous Decline In The Exchange Rates Of The Dollar In Iraq

Sunday 09, April 2023 19:24 | Economical Number of readings: 131 Baghdad / NINA / - The price of the dollar continues to decline in the markets and exchanges, currently hovering around 145,000 dinars per 100 dollars.

And the stock exchange in Baghdad closed at a price of 145,600 dinars for every 100 dollars, while the price in exchanges reached 145,000 thousand dinars for purchase and 146,000 thousand dinars for sale against every 100 dollars./ End https://ninanews.com/Website/News/Details?key=1046039

Foreign Currency Window And The Stability Of The Dinar Exchange Rate

Which led to the entry of new numbers of merchants and importers to the electronic platform, which raised the rates of foreign remittances amounts in the foreign currency sale window, which ranged between 150-200 million dollars per day, and this was reflected in bridging part of the gap between the official price and the price parallel to the exchange rate of the dinar against the US dollar,

and we expect During the coming period, the dinar will continue to recover and its purchasing value in the market will increase. We also expect that the central bank's efforts will continue to issue new packages to facilitate external transfers.

The important thing in the increase in foreign currency window sales is to make sure 100% that all foreign transfers that are made according to the electronic platform are sound transfers according to international standards and that the foreign currency sale window is an economic indicator that achieves one of the goals of monetary policy.

And that “drawing accusations against the Central Bank and banks of wasting foreign currency without evidence proving the existence of suspicions of corruption, money laundering, or currency smuggling, and that the proposition that says selling currency is a waste of public money, this is a description that has nothing to do with the economic process.”

It must be noted that “the process of selling the currency window began to be implemented by the Central Bank on 4/10/2004 in implementation of Article 28 of the Central Bank Law No. 56 of 2004, which allows the Central Bank to buy and sell foreign currency, and work has continued on this process to meet the needs of the Ministry of Finance in terms of currency For the purposes of the operational budget, the purchase of dinars from the public for the purpose of controlling liquidity levels, which is known as the process of monetary sterilization on the one hand, and to rotate the dinar and resell it to the Ministry of Finance for the purposes of paying salaries and wages and securing government expenditures as well as meeting and covering imports, and maintaining the stability of the target exchange rate from the Central Bank.

And that “the window for selling foreign currency is considered one of the largest open market operations in controlling local liquidity levels and placing the cash surplus in its proper paths, which is a good economic indicator and achieves one of the objectives of monetary policy, and this is consistent with what is practiced by” the Central Bank of Iraq of multidimensional functions, as it is concerned with financial stability Managing the payment system, managing foreign reserves, licensing and monitoring banks and financial institutions, and setting up preventive controls, in addition to other tasks related to cash issuance and publishing economic data, indicators and forecasts.

And that “the basic tasks that the central bank performs is managing monetary policy that aims to control inflation, stimulate the economy, balance the balance of payments, and achieve monetary stability.” https://economy-news.net/content.php?id=33433

Economist: Iraq Faces An Opportunity To Maximize Oil Revenues

April 9, 2023 Information / Baghdad... Economic affairs specialist, Muhammad Al-Saadi, explained that

Iraq is facing a valuable opportunity to maximize oil revenues by exploiting the reduction in oil production and achieving an increase in prices. Al-Saadi told Al-Maalouma,

"OPEC's decision to reduce production was deliberate, and

its results began to appear in the oil markets through high demand and price increases." He added,

"Iraq will not be affected by the reduction in production,

but rather it will achieve large revenues in light of the high oil prices and exceeding the threshold of $85 a barrel, especially since the budget was prepared at the level of $70 a barrel." And he indicated that

"the demand will rise during the coming period,

especially since America needs to strengthen its stocks after losing a lot of stocks in the last period,

during which it sought to reduce oil prices to $70 a barrel in order to buy it from the producing countries, and

as a result, OPEC's decision will raise oil prices and frustrate them." America's plans to increase the strategic stockpile. https://almaalomah.me/news/economy/اقتصادي:-العراق-امام-فرصة-لتعظيم-الايرادات-النفطية

Dr. Mazhar Muhammad Salih *: The Oil Assets Course - The War Game.

06/04/20230 What (OPEC +) decided to cut the voluntary production of the member countries throughout the year 2023 by about 1.5 million barrels per day and with different shares for the member countries (as Iraq was among the OPEC countries by reducing 220 thousand barrels per day) undoubtedly comes as a result of the fluctuations in the geopolitical situation and its direct and indirect effects on the battlefields in Ukraine and in two directions,

First: Russia, which is the second largest oil producer in the world after the United States (both of which currently account for 25% of global production of crude oil), are in great contradiction, as

NATO decided earlier that Russian oil should not be sold with a ceiling of more than 60%. Dollars per barrel, which made Russia commit to reducing production also in (OPEC +) in order for the global price to rise and cover the loss of its revenues from selling its oil to China, India and Central Asian countries at prices that are still about $20 less than the global average of world oil prices.

To continue reading, click on the following link

Dr. Mazhar Muhammad Salih - Oil Assets Course - War Game

http://iraqieconomists.net/ar/wp-content/uploads/sites/2/2023/04/د.مظهر-محمد-صالح-دورة-الاصول-النفطية-لعبة-الحرب.pdf

https://iraqieconomists.net/ar/2023/04/06/د-مظهر-محمد-صالح-دورة-الاصول-النفطية-ل/

Appearance-Mohamed-Saleh-the-cycle-of-oil-assets-the-war-game

Dr. Mazhar Muhammad Salih *: The Oil Assets Course - The War Game.

~~~~~

[Partial and incomplete translation of

http://iraqieconomists.net/ar/wp-content/uploads/sites/2/2023/04/د.مظهر-محمد-صالح-دورة-الاصول-النفطية-لعبة-الحرب.pdf – ]

Papers In Oil Policies

Dr. Mazhar Muhammad Salih: * The Oil Assets Course - The War Game.

1- The decision taken by (OPEC +) to reduce the voluntary production of the member countries throughout the year 2023 by about 1.5 million barrels per day and with different shares for the member countries (as Iraq was among the OPEC countries by reducing 220 thousand barrels per day) undoubtedly comes as a result of the fluctuations in the situation Geopolitics and its direct and indirect effects on the battlefields in Ukraine and in two directions,

First: Russia, which is the second largest oil producer in the world after the United States (both of which currently possess 25% of global production of crude oil), are in great contradiction, as NATO decided earlier that Russian oil should not be sold with a ceiling of more than 60%. Dollars per barrel, which made Russia commit to reducing production also in (OPEC) + in order for the global price to rise and cover the loss of its revenues from selling its oil to China, India and Central Asian countries at prices that are still about $20 less than the global average of world oil prices.

The second is that the shortage of inventories in the United States, and the announcement of their imminent depletion, makes it preserve energy security in the United States in an accelerated manner, by providing maximum production capacities that compensate either for the lack of supplies or for compensating for the oil embargo on Russia and achieving an average American daily production of about 17 percent. million barrels of its high-cost shale oil

. Selling US crude oil at less than $75 per barrel constitutes a loss and a significant decline in production, which threatens the economic interests of the United States.

Therefore, in view of the contradiction in the rules of the game of oil production between Russia and the United States and the voluntary reduction of OPEC production, as we mentioned, the predictions of (OPEC) + may be believed that the average oil prices in the year 2023 may not be less than 80 dollars per barrel.

The decision of (OPEC) + came in line with the geopolitics of controlling energy flows in the world, which is dominated by preparations for the ongoing field war between East and West.

Petroleum papers

2- In addition to the foregoing, the Rystad Energy Energy Consultative Company expects that the continuation of the voluntary reduction by Iraq, Russia and the Gulf countries in oil production, at least one million barrels per day, will pay crude oil prices this summer to 110 dollars per barrel at the very least. It is expected that the sharp rise in energy/ oil prices will increase the inflationary pressure on the global economy and will push central banks to tighten monetary policies more.

3- In conclusion, the matter was attached to the virtual price to calculate the oil revenues in the federal general budget project in Iraq, which is 70 dollars per barrel, so the expectation of the annual average prices of crude oil is between 90-80 dollars per barrel in the year 2023, may be a doubt about the virtual deficit gap In the estimated budget of about 63 trillion dinars, according to the following two assumptions:

A-The use of financial savings accumulated for the year 2022, which may be estimated between 25-23 trillion dinars in reducing the deficit.

B-compensation for the decrease in Iraq’s share of 220 thousand barrels of oil per day of production comes through the crude oil lost in the internal liquidation operations, in order to maintain the maximum return on the public budget with the least of the planned deficit.

**(Academic researcher and economic writer. Financial advisor to the Prime Minister in Iraq

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

https://www.bondladyscorner.com/

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"Tidbits From TNT" Sunday 4-9-2023

TNT:

TishWash: An upcoming meeting between Parliamentary Finance and ministers prior to amending the budget

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Sunday, the anticipation of holding several meetings with the relevant ministers to make the necessary adjustments to the budget, indicating that the budget deficit is very large and requires a reduction.

Cougar said in an interview with the information agency, that "there are many observations about budget legislation for three years within the House of Representatives."

He added that "the budget may witness amendments to some of its items and paragraphs in light of the large deficit, and that large paragraphs should be studied, therefore we have three weeks' time to sit with the ministers and the Minister of Finance and Planning."

TNT:

TishWash: An upcoming meeting between Parliamentary Finance and ministers prior to amending the budget

He pointed out that "the authority of the Finance Committee and the House of Representatives is first to reduce the deficit, secondly to transfer, and thirdly to add paragraphs that have no financial side."

He explained that "Parliament will make some amendments in the paragraphs and items of the budget according to the powers granted to it without any financial additions."

The First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, has stressed the need to expedite the legislation of the budget law in a way that guarantees the rights of the governorates to implement their service projects. link

CandyKisses: Iraq discusses with the World Bank accelerating the work of projects funded by grants and loans

Ministry of Planning with World Bank Representative in Iraq Richard Abdel Nour,

Mubasher: The Ministry of Planning discussed with World Bank representative in Iraq Richard Abdel Nour, on Sunday, accelerating the work of projects funded by international grants and loans.

"The Deputy Prime Minister - Minister of Planning Mohammed Ali Tamim, met today with the representative of the World Bank in Iraq, Richard Abdul Nour, and his accompanying delegation, the ministry said in a statement on Sunday.

She pointed out that "during the meeting, which was attended by the Director General of International Cooperation Saher Abdulkadir, and a number of officials in the ministry, a number of issues related to joint cooperation between Iraq and the World Bank were discussed."

She added that "the meeting dealt with the mechanisms of working in the implementation of service projects in the poorest regions and villages, implemented by the Ministry of Planning, within the Social Fund for Development funded by a loan from the World Bank."

She pointed out that "it was agreed to work together to develop appropriate mechanisms that will accelerate the pace of work in the completion of these projects because of the importance of them in enabling the people of the covered villages to access basic services."

The meeting also witnessed the discussion of joint work between the Ministries of Planning and Finance and the World Bank to develop appropriate mechanisms and instructions, which will address and overcome all problems facing the implementation of projects funded by the World Bank and international organizations.null

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

CandyKisses: Two decades to occupy Baghdad. How do Iraqis remember this day?

Shafaq News / On this day, April 9, 2003, Iraqis recall the scenes of US forces entering the heart of the capital Baghdad and the penetration of an American crane in Paradise Square and bringing down the statue of the late President Saddam Hussein, at a moment that the world considered an official announcement of the fall of the regime and the beginning of a new Iraq after about 3 weeks of heavy bombing and asymmetrical battles.

20 years ago, an international military coalition, led by the United States and Britain, began the invasion of Iraq on March 20, 2003, and toppled the regime of Saddam Hussein (1979-2003); allegedly possessing weapons of mass destruction and supporting terrorist organizations.

The secret of the sudden fall

The sudden and rapid fall of the capital Baghdad in the hands of American forces shocked many who believed that the battle of Baghdad would last, but this perception did not happen, due to the combination of several factors that helped this collapse.

One of the most prominent of these factors is "the great weakness suffered by the Iraqi army after the Desert Storm War in 1991, especially in equipment, equipment, weapons and equipment, in addition to the existence of a crisis in military strategy and the siege, so Iraq was at the height of its weakness," according to the military expert, Major General Majid Al-Qaisi.

Al-Qaisi adds to Shafaq News that "the occupation operation was by America and Britain and with the participation of about 29 other countries, and they had mobilized about 293,000 soldiers to occupy Baghdad from the four directions through 4 to 5 military teams, so they were able to occupy it within 19 days, but this short period was surprising to them."

He continues, "Plan 1003, which was intended to occupy Baghdad, expected to take control of the Iraqi capital from 90 to 120 days, but the weakness of the Iraqi armed forces for the above reasons, in addition to the lack of air force, nor large reserves in the field of tanks, and the traditional methods followed contributed to uneven performance, and thus Baghdad fell."

He explains, "Political factors also played a role in making big mistakes, as the military and political decision was in the hands of one person, in addition to political differences with regional and international countries."

It is noteworthy that after the fall of Baghdad, large-scale looting and looting operations began in the capital and some other cities, and these operations were transmitted to the whole world through television screens; where the US military only protected the buildings of the Ministries of Oil and Interior, including intelligence, and other institutions such as banks, weapons stores, facilities and hospitals remained without any protection.

Although the Iraqis comment on this day and recall it, but they still disagree on it, whether it is an occupation or liberation, and some governorates have suspended official working hours on this occasion, unlike governorates that continued to work, which indicates that they did not agree on this occasion.

Backfire to the occupation

In this context, the security expert, Alaa Al-Nashou, says that "Baghdad occupied and did not fall into military, security and legal calculations, because Baghdad is historically the capital of the Arab Islamic State from the second century AH until the seventh century, and it is the capital of the world and the Kaaba of science and knowledge that all earth scholars meant, because of its sacred position in science, knowledge and great cultural advancement."

Al-Nashwa adds to Shafaq News, "Baghdad remains and the occupiers are leaving, so it was called the conqueror's Cairo, and the humiliation of the aggressors, occupied by the Mongols, the Tatars, the Ottomans, the Persians, the British and the Americans, so they were the departers and the remaining Baghdad."

He continues that "America, Britain and the international alliance came up with many fallacies, including the lie of weapons of mass destruction, and that Iraq threatens international security and peace, but in fact they were wrong in many of those accounts, the opposite results in the occupation of Iraq, which has become a hotbed of international intelligence services, and a haven for all extremist groups in the world, which destroyed the national security of Iraq and the entire region."

What does Iraq need today?

The writer and political analyst, Ali Al-Bayder, points out that "there is a dilution in Iraq of the concept of the state in favor of political parties and currents, and the level has reached that the institution is the monopoly of a certain family or class names, which led to the dispersion of the government effort and the non-implementation of the ministerial curriculum of previous governments."

Al-Bayder assures Shafaq News that "Iraq needs to change many emerging or even old concepts, and to build a real state by activating the role of state institutions, regulations, instructions, laws and constitutional aspects, and that the current prime minister has aspirations based on making new concepts and restoring the citizen's confidence in the state and its institutions and making him a success factor and partner in overcoming failures."

He continues, "There is a desire even at the regional and international level to pull Iraq out of its reality and turn it into a better reality, as the world today needs Iraq more, especially after the Ukrainian-Russian crisis, so it is necessary to liquidate internal crises to overcome external crises and build a state of institutions and absolute citizenship."

CandyKisses: YOU WANT TO BE FOUND

Mot ... You Still Have Time to Make the Kids ""Proud"" ~~

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Goldilocks "Will the Easter Bunny Lay a Golden Egg Today?" 4-9-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good morning and Happy Easter Dinar Recaps,

This morning Goldilocks posted a commentary with links:

Will the Easter Bunny lay a golden egg today as we approach another week of trading?

The bubble phase in gold is about to commence. 23 US states are in process of reclaiming gold and silver as legal tender.

This number will only increase as we get closer to the Basel 3 End Game.

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good morning and Happy Easter Dinar Recaps,

This morning Goldilocks posted a commentary with links:

Will the Easter Bunny lay a golden egg today as we approach another week of trading?

The bubble phase in gold is about to commence. 23 US states are in process of reclaiming gold and silver as legal tender.

This number will only increase as we get closer to the Basel 3 End Game.

"The Basel 3 “Endgame” package will significantly increase banks’ capital requirements over-and-above their already historically high levels in the past several years, resulting in significant additional funding costs for businesses, consumers, and investors."

This is why we are noticing so many central banks buy more and more gold as we approach the 60 trillion plus derivative contracts moving over into SOFR lending services.

SOFR contracts are currently being moved at a faster pace. Everything is being collateralized in the banking system by gold, silver, and other commodities that are digitized.

Watch for the repricing of gold, silver, and oil. This is the liquidity that will move the banking system along and support the markets in every sector including forex.

Gold is the liquidity package we are looking for going forward.

Gold is money. It always has been and always will be.

Happy Easter my friends. The transition into our digital asset-based trading system is definitely a Biblical event in the making.

© Goldilocks. 👇

https://www.eurasiareview.com/09042023-this-easter-the-resurrection-of-a-new-middle-east-might-be-upon-us-oped/

https://www.sifma.org/resources/news/how-the-basel-iii-endgame-reforms-will-transform-us-capital-requirements/

https://www.investorsobserver.com/news/qm-news/5538391749687833

https://youtu.be/WCJ8R3qitoc

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

DINARRECAPS8 4/9/23 DINARRECAPS8 4/9/23

Sunday Morning Iraq Economic News Highlights 4-9-23

Parliamentary Conquest: We Will Not Submit To Any Bargaining Over Passing The Budget

Information / Baghdad.. On Sunday, the representative of the Al-Fateh Alliance, Muhammad Al-Baldawi, confirmed the impossibility of passing any bargaining during the approval of the federal budget, indicating that some forces hinting at passing laws in return for supporting the budget is an early election propaganda. Al-Baldawi said, in a statement to Al-Maalouma, that "some political forces began to hint at the introduction of other laws in return for passing the budget law, and this proposition will be met with widespread rejection by the rest of the political forces."

Sunday Morning Iraq Economic News Highlights 4-9-23

Parliamentary Conquest: We Will Not Submit To Any Bargaining Over Passing The Budget

He added, "The draft budget law must be independent, as it preserves the general interests of the Iraqi people, such as salaries, appointments, and the interests of all provinces. Therefore, any law that is intended to be brought before the budget law is rejected."

Al-Baldawi pointed out that "the Fatah parliamentary bloc and other political forces strongly reject the submission of the budget law to any political bargaining," stressing that "these propositions will be completely rejected, and we will work to pass the law as soon as possible, away from any political debates."

Parliament Speaker Muhammad al-Halbousi sought to export his internal crisis within his party, which suffers from major public defections, to Baghdad, through his clash with Prime Minister Muhammad Shia al-Sudani and insisting on postponing the budget submission to parliament. LINK

An economist told NINA: The increase in the operating budget doubles the investment... evidence that there is no economic growth in the country

Sunday 09, April 2023 11:34 | Economical Number of readings: 233 Baghdad / NINA / - The economic expert in the field of oil and energy, Muhammad Hawrami, confirmed: The increase in the operating budget doubles the investment... evidence that there is no economic growth in the country.

He told the National Iraqi News Agency / NINA /: The budget problems are diverse and many … among the most important of which is the size of the operational budget, which doubles the investment budget, which is the measure of economic growth and the creation of new job opportunities for graduates and the idle workforce.

Hawrami added: The other note is the dependence of more than 95% on oil revenues, as in the budgets of past years, and that oil and energy prices in general fluctuate and always fluctuate according to market requirements and international, regional, political and economic factors... Therefore, many countries Avoid such budgets.

He explained: The factor of economic and financial stability for any country is through the collection of local revenues from the collection of electricity, water, taxes, and other fees.

https://ninanews-com.translate.goog/Website/News/Details?key=1045924&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

More Than 7 Million Barrels Of Iraq's Oil Exports To America In A Month

2023-04-09 Shafaq News/ The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America amounted to more than 7 million barrels last March.

The administration said in a table seen by Shafaq News Agency, "Iraq exported 7.533 million barrels of crude oil to America during the month of March, with an average of 243,000 barrels per day, down from February, in which Iraqi oil exports to America reached 7.896 million barrels, with an average 282 thousand barrels per day.

She added, "Iraq exported crude oil to America during the first week of March at an average of 346,000 barrels per day, while an average of 144,000 barrels per day was exported in the second week, and an average of 138,000 barrels per day was exported in the third week," noting that "the fourth week's exports amounted to An average of 345,000 barrels per day.

The US Energy Information Administration stated that "Iraq ranked fourth in its exports to America during the past month after each of: Canada, Mexico, and Saudi Arabia, and ranked second in the Arab world after Saudi Arabia, whose last exports to America amounted to 12 million and 462 thousand barrels per day," indicating that "Canada It ranked first as the most oil-exporting country to America, followed by Mexico. LINK

Within 3 Months... Iraq Imported Goods From Jordan Worth About $167 Million

Money and business Economy News – Baghdad The Jordan Chamber of Commerce announced, on Sunday, that Iraq topped the list of countries importing commercial goods from Jordan during the first quarter of this year.

And the Chamber said in a statement, that “goods and commodities were exported to Arab and foreign countries, during the first quarter of this year 2023, about 285 million dinars, compared to approximately 197 million dinars for the same period last year.”

She added, "Iraq came first with the largest Arab countries importing from Jordan in terms of the value of imported goods during the first quarter of the year 2023, which amounted to 117 million dinars."

It is worth noting that every 70 Jordanian dinars equals about 100 US dollars.

https://economy-news.net/content.php?id=33437

Profits Of "Pepsi Baghdad" Grow By 300% During The First Quarter Of This Year

Money and business Economy News – Baghdad Baghdad Company for Soft Drinks, known as "Lipsi Baghdad", made profits during the first quarter of this year of 26.6 billion dinars before tax.

According to the company's budget obtained by "Al-Iqtisad News", the company's revenues during the first quarter of the year 2023 amounted to 152.6 billion dinars, achieving a growth of more than 15% compared to the first quarter of the year 2022.

The company's revenues grew by more than 300% during the first quarter, achieving 26.6 billion dinars, while during the same period of the year 2022, the company's revenue was 6.6 billion dinars.

The company's stock responded to the positive results achieved during the first quarter, as it rose by 2.23% during the trading session in the first hour. https://economy-news.net/content.php?id=33438

A Sudden Decision By OPEC Raises Oil Prices And An International "Concern" Of An Economic Recession

Economy |Today, Baghdad Today – Translator Today, Sunday, the economic newspaper "The Economic Times" announced a rise in oil prices, following a "surprising" decision issued by OPEC, which included a reduction in its daily output.

And the newspaper indicated, according to what was translated (Baghdad Today), that "OPEC decided to reduce daily production by about 1.2 million barrels per day, after previous assurances it gave to the international market that there were no intentions to change production policy during the coming period."

The newspaper described OPEC's decision as "surprising," which led to a rise in oil prices that exceeded the eighty-dollar barrier, before returning to settle at eighty dollars per barrel, stressing that "despite the blow to the market as a result of the decision, oil prices have maintained their stability." stability today.

She explained that "OPEC's decision included reducing oil production from Saudi Arabia by about half a million barrels per day, while Iraq reduced its production by about 211 thousand barrels, the UAE by 144 thousand barrels, and Kuwait by about 128 thousand barrels per day. These moves, the newspaper said, aim to" control the recession in Oil prices as a result of the decline in global demand.

The newspaper pointed out that "the current decline in oil demand, which led OPEC to reduce production to maintain the price ceiling, comes as a result of" fears of a global economic downturn that has come to dominate the international market, especially after the crises that international banks were exposed to, the restrictions placed on Russian oil and the failure of efforts to control inflation rates in America and Europe. LINK

Within A Week, The Central Bank Sells More Than A Billion Dollars

Economical 04/09/2023 The Central Bank of Iraq's total sales of hard currency to US dollars during the past week amounted to more than one billion dollars.

And the Central Bank sold during the past week for the five days in which the auction was opened, the amount of one billion and 112 million and 127 thousand and 560 dollars at a daily rate of 222 million and 425 thousand and 512 dollars, up by 1.54 percent from what was recorded in the previous week, in which the sale rate reached 219 million and 057 One thousand and 295 dollars.

The highest dollar sales during the past week were on Wednesday, when sales amounted to 271 million 933 thousand and 423 dollars, while the lowest sales were on Sunday, when sales amounted to 184 million 370 thousand and 292 dollars.

Sales of foreign remittances amounted during the past week to 922,277,560 dollars, an increase of 79.5 percent, compared to cash sales, which amounted to 189,850,000 dollars.

Sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of amounts of documentary credits and international settlements of electronic cards reached 1,305 dinars per dollar, while the price of selling amounts of transfers abroad and the price of cash sales amounted to 1,310 dinars per dollar. https://alsabaah.iq/74892-.html

Foreign Currency Window And The Stability Of The Dinar Exchange Rate

Sameer Al-Nusairi The procedures of the Central Bank and the three packages issued by it to facilitate obtaining foreign currency for foreign trade purposes and cover travel, treatment and study expenses for citizens, and the strict adherence of banks to the instructions and controls for external transfer for the year 2023 and the due diligence instructions, and the Central Bank’s departments dismantled the obstacles facing foreign transfers operations in cooperation with international bodies. Which led to the entry of new numbers of merchants and importers to the electronic platform, which raised the rates of foreign remittances amounts in the foreign currency sale window, which ranged between 150-200 million dollars per day,

and this was reflected in bridging part of the gap between the official price and the price parallel to the exchange rate of the dinar against the US dollar, and we expect During the coming period, the dinar will continue to recover and its purchasing value in the market will increase. We also expect that the central bank's efforts will continue to issue new packages to facilitate external transfers.

DINARRECAPS8 4/8/23 DINARRECAPS8 4/8/23

Iraqi News Highlights Saturday Afternoon 4-8-23

Tlm724 Administrator Bondlady’s Corner

Government Moves To Mitigate The Effects Of Changing The Dollar Exchange Rate

Economy| 11:28 - 08/04/2023 Baghdad - Mawazine News Today, Saturday, the Baghdad Chamber of Commerce revealed the existence of joint moves between the government and a number of trade unions and organizations aimed at mitigating the severity of the effects resulting from the change in the dollar exchange rate, and its negative repercussions on the level of income of individuals and the economic movement in general.

Iraqi News Highlights Saturday Afternoon 4-8-23

Tlm724 Administrator Bondlady’s Corner

Government Moves To Mitigate The Effects Of Changing The Dollar Exchange Rate

The advisor at the Baghdad Chamber of Commerce, Ali Hadi Jouda, said, “An important meeting was held in the Ministry of Planning to discuss the effects and repercussions of changing the exchange rate on the various economic sectors, especially commercial, industrial and real estate, which was undertaken by the Central Bank on 2-7-2023 and approved by the Council of Ministers.” , stressing that "the participants in the meeting presented a number of recommendations that will be submitted to the Council of Ministers with the aim of mitigating the effects of changing the exchange rate."

Judeh pointed out that "the Chamber of Commerce presented, in turn, during the meeting a realistic diagnosis of the problems resulting from changing the exchange rate of the dollar, and presented a number of solutions commensurate with the origin of the problem," noting that "these opinions and treatments were presented to the Ministry of Planning and will be submitted to the Council of Ministers," according to the official newspaper. . https://www.mawazin.net/Details.aspx?jimare=224030

Al-Halbousi And Barzani Stress The Importance Of Implementing The Oil Agreement Between The Region And The Center

Political | 03:45 - 08/04/2023 Baghdad - Mawazine News The President of the Kurdistan Region, Nechirvan Barzani, and the Iraqi Council of Representatives, Muhammad al-Halbousi, stressed today, Saturday, the importance of implementing the oil agreement between the region and the center.

The Presidency of the Kurdistan Region stated in a statement, a copy of which was received by Mawazine News, that "Barzani met with Al-Halbousi in the capital, Baghdad, and during the meeting, views were exchanged on the draft budget law, which is now in Parliament for a vote, as the two sides agreed on the importance of issuing This law and its influential role in reviving the economic situation and resuming work and projects.

The statement added that "in another axis of the meeting, the agreement between the federal government and the Kurdistan Regional Government was discussed, stressing the importance of its implementation."

The two sides indicated, "Delaying the implementation of this agreement will negatively affect Iraq's public revenues." Ended 29/M99 https://www.mawazin.net/Details.aspx?jimare=224056

Sudanese Advisor: A Movement To Localize Military Industries

Economy| 10:49 - 08/04/2023 Baghdad - Mawazine News, the technical advisor to the Prime Minister, Muhammad Abd al-Sahib al-Darraji, stressed, on Saturday, the need to find joint cooperation between the Military Industrialization Authority and international consulting companies to build an infrastructure for the military industry in the country with the aim of localizing military industries.

Al-Darraji said, "Cooperation between the Military Industrialization Authority and other ministries does not rise to the level of ambition, with the exception of the Ministry of Interior, which has taken serious steps in the field of joint cooperation."

He added, "The ministries of the state, by virtue of the law and the national interest, it is necessary to open lines to purchase military industrial products," pointing out that "the commission is working hard to produce products that support and supply security institutions."

Al-Darraji stressed "the need to find joint cooperation between the authority and international consulting companies to build an infrastructure for the military industry in the country, with the aim of localizing military industries, preserving foreign currency, moving the national economy, and achieving sovereignty in the field of armament," calling for "the need to find a formula for cooperation with technology manufacturers and to transfer it to Iraq.

Al-Darraji confirmed in an interview with the official news agency, which was followed by Mawazine News, that "the Prime Minister and Commander-in-Chief of the Armed Forces, Muhammad Shia' al-Sudani, supports the Military Industrialization Authority." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=224022

Al-Sudani: You Will Not Hesitate To Proceed With Our Program In Order To Achieve A Quantum Leap In The Country

Saturday 08, April 2023 11:29 | political Number of readings: 391 Baghdad / NINA / - Prime Minister Muhammad Shia'a Al-Sudani affirmed: "You will not hesitate to proceed with our program in order to achieve a qualitative leap in the country and address crises."

Al-Sudani said in a speech at the celebration of the forty-second anniversary of the founding of the Badr Organization: "The government is working to consolidate stability and is working on a radical reform of the economy." He added: "We have no red lines in fighting corruption."/ End 8

https://ninanews.com/Website/News/Details?Key=1045714

Decrease In Dollar Exchange Rates In The Local Markets

Saturday 08, April 2023 13:08 | Economical Number of readings: 303 Baghdad / NINA /- The exchange rates of the dollar recorded, today, Saturday, a significant decrease in the stock exchange and exchange offices in Baghdad and the governorates.

The exchange rate of the dollar on the Al-Harithiya and Al-Kifah Stock Exchanges recorded 148,200 dinars for every 100 dollars.

While the selling price in exchange offices was 148,750 dinars, and the purchase price was 147,750 dinars, for every 100 dollars. https://ninanews.com/Website/News/Details?key=1045740

Iraq's Oil Exports To America Doubled

Saturday 08, April 2023 10:37 | Economical Number of readings: 349 Baghdad / NINA / - The US Energy Information Administration announced, today, Saturday, that Iraq's oil exports to America increased during the past week.

The administration stated in a report, that "the average US imports of crude oil during the past week from nine countries amounted to 6.36 million barrels per day, up by 1.833 million barrels per day from the previous week, which amounted to 4.532 million barrels per day."

She added, "Iraq's oil exports to America amounted to an average of 345,000 barrels per day last week, up by 207,000 barrels per day from the previous week, in which oil exports to America amounted to 138,000 barrels per day."

She pointed out that "most of America's oil revenues during the past week came from Canada at a rate of 3.890 million barrels per day, followed by Mexico at an average of 920 thousand barrels per day, and oil revenues from Saudi Arabia amounted to 514 thousand, and then Nigeria at a rate of 302 thousand barrels per day."

According to the administration, "the amount of American imports of crude oil from Nigeria amounted to an average of 129,000 barrels per day, from Ecuador 80,000 barrels per day, from Colombia 71,000 barrels, and from Libya 14,000, while it did not import any quantity from Russia."/

https://ninanews.com/Website/News/Details?key=1045686

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

https://www.bondladyscorner.com/

Dinar Recaps 20 4/8/23 Dinar Recaps 20 4/8/23

"Tidbits From TNT" Saturday 4-8-2023

TNT:

CandyKisses: Iraqi governorates disrupt work on the occasion of the fall of Saddam’s regime

Shafaq News / Three Iraqi provinces, in addition to the Kurdistan Region, decided to suspend work on the occasion of the fall of the former regime led by the late President Saddam Hussein at the hands of US forces and their allies in the spring of 2003.

The governorates that decided to disrupt working hours are: Dhi Qar, Maysan and Babylon, in addition to the provinces of the region.

The Kurdistan Regional Government announced the suspension of official working hours in all government institutions and departments tomorrow, Sunday, on the occasion of the liberation of Iraq.

TNT:

CandyKisses: Iraqi governorates disrupt work on the occasion of the fall of Saddam’s regime

The governorates that decided to disrupt working hours are: Dhi Qar, Maysan and Babylon, in addition to the provinces of the region.

The Kurdistan Regional Government announced the suspension of official working hours in all government institutions and departments tomorrow, Sunday, on the occasion of the liberation of Iraq.

CandyKisses: On the occasion of Eid.. Stopping the withholding of employee advances for this month

Shafaq News / Prime Minister Mohammed Shiaa Al-Sudani directed to stop deducting the advances of employees for this month on the occasion of the arrival of Eid al-Fitr.

This came in an official book, obtained by Shafaq News Agency, signed by the Director of the Prime Minister's Office, Ihsan Yassin Al-Awadi Agency and addressed to the Central Bank of Iraq, entitled "Stop Deduction."

The book stated that based on the directive of the Prime Minister to take the necessary measures regarding the directive of government and private banks to stop deducting the advances of employees for this month only on the occasion of the arrival of Eid al-Fitr.

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

Tishwash: Nechirvan Barzani meets in Baghdad with the four presidencies

The President of Kurdistan Region, Nechirvan Barzani, is scheduled to visit today, Saturday, the Iraqi capital, Baghdad.

A source from within the region's presidency told Shafaq News agency, "The president of the region will participate in the ceremonies commemorating the martyrdom of Muhammad Baqir al-Hakim and the 42nd anniversary ceremonies of the founding of the Badr Organization."

He added that "Barzani, during his visit, will hold meetings with the four presidencies (the republic, the federal government, the parliament and the supreme judiciary) to discuss the current situation in Iraq." link

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

Tishwash: Al-Amiri: We need to create a suitable environment for foreign investment

The head of the Al-Fateh Alliance, Hadi Al-Amiri stressed today, Saturday, the necessity of fighting corruption according to a well-studied scientific plan, while pointing out that Iraq needs to create a suitable environment for foreign investment.

Al-Amiri said, during the celebration of the 42nd anniversary of the founding ofBadr Organization, I followed herAlsumaria News, that "Badr OrganizationIt had a role in overthrowing the defunct regime,” stressing that “the fatwa of the competent jihad has been preservedIraqfrom the terrorist threat, and thanks to her we achieved victory.”

He added: "We must not allow a return to the past, and we will not allow a return to the crimes committed by the exterminated regime," stressing "the need to address the mistakes and expose the Iraqi people and listen to them away from media misinformation."

And he stressed "the need to fight corruption that has permeated state institutions according to a well-studied scientific plan away from media drumming," stressing that "fighting corruption is one of the important chapters of reconciliation with the public andto openHe continued

: "We need a package of measures to address the various investment obstacles, and the large port of Faw must be completed because of its economic importance to Iraq," stressing "the need to strengthen the state's non-oil resources by paying attention to industry, agriculture and the oil sector.

" By saying: “We need to create a suitable environment for foreign investment, and the Social Security Law must be legislated.”

Regarding the Zionist entity's attacks on the Palestinian people, Al-Amiri said: “We deplore the silence of international organizations regarding the Zionist attacks on the Palestinian people.” ink

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

CandyKisses: IMF warns: Global economy is weak

Baghdad Today – Follow-up

International Monetary Fund Managing Director Kristalina Georgieva warned on Saturday that the global economic system is in a "weak" position due to attempts by the world's central banks to fight inflation.

Georgieva primarily mentioned financial instability and slowing economic growth, but at the same time stressed that the world is not currently threatened by a repeat of the 2008 financial crisis.

"At the moment, the financial system, banking and non-banking, is much cleaner, but this does not mean that weaknesses do not exist," she said, noting that "we have warned over the past year, that interest rates should not be allowed to rise too much after they have been low for a long time."

On Thursday, the Director-General announced that global growth would remain at 3 per cent over the next five years, the lowest medium-term forecast since 1990.

Mot: ..... Ya All Getting Ready!!!! ~~~~~

CandyKisses: HIPPITY. HOPPITY.

DINARRECAPS8 4/8/23 DINARRECAPS8 4/8/23

Saturday Morning Iraq Economic News Highlights 4-8-23

Expert: The Tripartite Budget Gives The Government Full Powers To Borrow About 42 Trillion Dinars

2023.04.08 - Baghdad - people Nabil Al-Marsoumi, a professor of economics at the University of Basra, warned, on Saturday, of what he described as "the country's sinking in a sea ofdebt."

Al-Marsoumi said in a post followed by “NAS” (April 8, 2023), “Perhaps the most dangerous thing in the budget is that it is tripartite and not annual, which means that spending will continue in the next year, not on the basis of 1/12 of actual spending, but rather on the basis of what is allocated in The budget in the previous year, and this may lead to freeing the government’s hand in internal and external borrowing, especially with the disappearance of the cash surplus that will be used in this year’s budget, in addition to that it is possible for the budget to continue in its current form without amendment in the next two years without Parliament having legal powers To reject it or amend it, which will plunge the country into a sea ofdebt."

Saturday Morning Iraq Economic News Highlights 4-8-23

Expert: The Tripartite Budget Gives The Government Full Powers To Borrow About 42 Trillion Dinars

2023.04.08 - Baghdad - people Nabil Al-Marsoumi, a professor of economics at the University of Basra, warned, on Saturday, of what he described as "the country's sinking in a sea ofdebt."

He added, "In other words, the tripartite budget legislation will give the government full legal powers to borrow 41.5 trillion dinars, not in 2023, but also in the years 2024 and 2025, which means that the government can borrow internally and externally without referring to Parliament, an amount of 121.5 trillion dinars during the budget." for the three years 2023, 2024 and 2025.

https://www.nasnews.com/view.php?cat=105239

Parliamentary Finance: So Far, There Is No Agreement To Pass A 3-Year Budget

Time: 04/08/2023 {Economic: Al Furat News} A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Saturday, that there is no agreement to pass a 3-year budget so far.

"Until now, there is no agreement to pass a 3-year budget," Cougar said in a statement to {Euphrates News} agency.

And Cougar indicated that "the committee will focus on the budget for the year 2023, and we will sit with the government for the purpose of discussing some paragraphs."

On the thirteenth of last March, the Council of Ministers approved the draft financial budget law and submitted it to Parliament for a vote, with high proposed expenditures and investments, driven by the increase in oil prices, for a period of 3 years, starting from 2023. Raghad Daham LINK

An Economist Reveals A “New Variable” That May Affect Oil Revenues And The Budget

An economist warned against Iraq following the Saudi monetary policy, and while stating that the latter has its own reasons for reducing oil production, he stressed the need to beware of a “new variable” with the Turkish side that might wreck oil revenues and the budget.

The economist, Nabil Al-Marsoumi, said in a press interview seen by “Takadum” that “the absence of a strategic horizon for economic thinking in Iraq prompted it to be subordinate to the Saudi monetary policy,” noting that “Saudi policy has its strategic priorities, and one of the reasons for its agreement with Russia to reduce oil production Because of the great loss suffered by the National Bank of Saudi Arabia, one of the major investors in the Credit Suisse Bank in Switzerland,” which has recently collapsed.

Al-Marsoumi continued, “The dependence of the Iraqi monetary policy on Saudi Arabia will lose a lot, because Saudi Arabia today has a basic oil production line of 11 million barrels per day, while the baseline for oil production in Iraq amounts to 4.6 million barrels, and this indicates a large gap in numbers.”

He explained that "Iraq is forced to reduce oil production due to Saudi pressure, and as a result it will not be able to proceed with the development of its production capabilities. Iraq plans to have oil production at 6 million barrels per day in 2027 and has signed with the French company Total to raise oil production in one of the fields." "The procedures and policy of reducing production collide with Iraq's presence in OPEC."

He added, "The oil countries have economic and social buffers to face the crises, including the possession of large sovereign funds that can absorb any crisis, on the other hand, Iraq does not have any buffer other than its cash reserves."

Al-Marsoumi stated, “The new variable that appeared for Iraq is that Turkey refuses to allow the resumption of Iraqi oil exports, and demands the settlement of financial requests from 2018 to 2022 before allowing Iraq to export oil from the Kirkuk fields, and this means that Iraq will be affected by stopping 450,000 barrels and not flowing abroad.” ".

He stressed that "this new variable may ravage oil revenues and the budget, because Iraq is bound by its agreement with Kurdistan, to receive the value of 400,000 barrels of oil and pay the share of 16 trillion dinars in the 2023 budget." https://takadum-news.com/archives/158317

To Avoid The Deficit.. A Parliamentarian Presents A Solution To Resolve The Oil Price Clause In The Budget

Today 14:56 Information/exclusive.. Member of Parliament, Rafik al-Salhi, proposed today, Saturday, a mechanism to resolve the oil price clause in the budget law, while he expected it to be passed during the holy month of Ramadan.

Al-Salihi said in an interview with Al-Maalouma agency, "The House of Representatives will vote during the blessed month of Ramadan on the draft law budget for the current year and resolve the matter."

As for the varying oil prices, and their relationship to the price specified in the Iraqi budget, Al-Salhi stressed: “It is necessary to put a price lower than the current prices offered in the global markets so that there is no large deficit in the budget,” noting that “this is what has been worked on during all sessions.” government in previous years.

The member of the House of Representatives explained, "Oil prices are evaluated at a lower price than the current price, so that there is no economic turmoil about this matter and thus causes disruption of the budget."

And Al-Salhi stated, "The first and last goal of the House of Representatives at the present time is to pass the budget, given that many projects and important works for the Iraqi people depend on this law."

The Council of Ministers had estimated oil prices in the financial budget law at 70 dollars, which sparked an economic controversy, especially with the fluctuation of prices in global markets.

Last Wednesday, the House of Representatives held the first session to read the draft budget for the current year, which focused on defining the budget items and its most important paragraphs. LINK

Iraq's Oil Exports To America Doubled

Saturday 08, April 2023 10:37 | Economical Number of readings: 260 Baghdad / NINA / - The US Energy Information Administration announced, today, Saturday, that Iraq's oil exports to America increased during the past week.

The administration in a report, that "the average US imports of crude oil during the past week from nine countries amounted to 6.36 million barrels per day, up by 1.833 million barrels per day from the previous week, which amounted to 4.532 million barrels per day." day."

She added, "Iraq's oil exports to America amounted to an average of 345,000 barrels per day last week, up by 207,000 barrels as a daily average from the previous week, in which oil exports to America amounted to an average of 138,000 barrels per day. "

She pointed out that "most of America's oil revenues during the past week came from Canada at a rate of 3.890 million barrels per day, followed by Mexico at an average of 920 thousand barrels per day, and oil revenues from Saudi Arabia amounted to 514 thousand." , and then Nigeria at a rate of 302 thousand barrels per day.

According to the administration, “the amount of American imports of crude oil from Nigeria amounted to an average of 129,000 barrels per day, from Ecuador 80,000 barrels per day, from Colombia 71,000 barrels, and from Libya 14,000, while it did not import any quantity from Russia.”

[rtl]https://ninanews-com.translate.goog/Website/News/Details?key=1045686&_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=en

The Dollar Falls To Less Than 1,500 Dinars In The Iraqi Market

The dollar falls to less than 1,500 dinars in the Iraqi market 11556

Market Economy News – Baghdad Today, Saturday, the exchange rates of the dollar fell to less than 1,500 dinars in the local markets.

Baghdad Sale: 149,750 dinars per 100 dollars Buying: 147,750 dinars per 100 dollars

South Sale: 149,500 dinars per 100 dollars Buying: 147,500 dinars per 100 dollars

North Sale: 150,000 dinars per 100 dollars Buying: 148,000 dinars per 100 dollars

https://economy-news.net/content.php?id=33413

The Decline In Dollar Prices In Baghdad And Erbil

2023-04-08 02:23 Shafaq News/ The exchange rates of the US dollar decreased against the Iraqi dinar today, Saturday, in the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 148,800 Iraqi dinars for 100 US dollars this morning.

On Thursday morning, the prices were 150,000 dinars for 100 dollars.

Our correspondent indicated that the buying and selling prices decreased in the exchange shops in the local markets in Baghdad, where the selling price reached 150,000 Iraqi dinars per 100 US dollars, while the purchase price amounted to 148,000 Iraqi dinars per 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the stock exchange does not trade on official holidays, but the exchange offices traded dollars and recorded a decrease, as the selling price of the dollar reached 149,000 dinars per 100 US dollars, and the buying price reached 148,000 dinars per 100 US dollars. LINK

Government moves to mitigate the effects of changing the dollar exchange rate

Report: The Drop In The Exchange Rate Of The Dollar In Iraq Because Iran Stopped Buying It From The Black Market

Economy |Today Baghdad Today – translation On Friday, the local Iraqi markets witnessed a decline in the exchange rates of the dollar, driven by expectations of a further decline in the value of the US dollar against the dinar, as a result of Iran's cessation of buying dollars from the Iraqi black market, after costs rose to unprecedented levels.

The Middle East Eye network revealed, according to a report translated by (Baghdad Today), that the Iranian authorities found themselves forced to pay 400,000 out of every million dollars to obtain the currency, which incurred great economic losses and forced them to stop illegal purchases of dollars from the market. Iraqi black woman," according to the report.

The report indicated that "Iran's suspension of purchases has greatly increased the levels of currency present in the Iraqi market," stressing that "exchange outlets and private banks that kept large amounts of dollars withdrawn from the Iraqi market in favor of Iran, found themselves owning large amounts of currency." America without the presence of many buyers after Iran stopped the purchases.

And she continued, "According to the information obtained by the network from an official in the office of the Prime Minister, Muhammad Shia' al-Sudani, Iran stopped buying dollars from Iraq a week ago, which reflected positively on the availability of hard currency inside the Iraqi market." That stop, in any case, was associated with Iran shifting its focus. Towards a new mechanism for obtaining the dollar.

The network revealed, "The Iranian authorities, who used to pay large amounts of money to currency smugglers, including individuals whose names are used to obtain sums of money amounting to seven thousand dollars for travel trips outside Iraq, have now found a new way to use them to feed their economy in dollars through electronic prepaid cards." She said she was also under pressure.

The Iraqi authorities quickly revealed, according to the description of the network, currency smuggling operations using electronic prepaid cards destined for countries abroad, and arrested a number of travelers who possessed large quantities of the aforementioned cards, which prompted Iran to place another temporary suspension on the operations of obtaining dollars from the cards. .

Iran, according to the network, is heading towards smugglers from the countries of Jordan and the UAE to obtain dollars through smuggling networks from Iraq after stopping its purchase through Turkey, which put Iran under more pressure due to the high costs, which it reflected on the Iraqi authorities through criticism directed at it in particular and through channels diplomacy, according to the network. LINK

Dinar Recaps 20 4/7/23 Dinar Recaps 20 4/7/23

Goldilocks "Things Are Changing Rapidly" Friday 4-7-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good afternoon Dinar Recaps,

Goldilocks posted some exciting nuggets today:

Watch the Gold, Silver, and Oil on the Debt Clock. Changes are coming any moment.

This repricing event will set the stage to move the economy into the new financial system.

It will be the green light for liquidity to pour into our new economy especially since we have new legislation on the table regarding the digital asset standardization bill.

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ: Good afternoon Dinar Recaps,

Goldilocks posted some exciting nuggets today:

Watch the Gold, Silver, and Oil on the Debt Clock. Changes are coming any moment.

This repricing event will set the stage to move the economy into the new financial system.

It will be the green light for liquidity to pour into our new economy especially since we have new legislation on the table regarding the digital asset standardization bill.

https://youtu.be/eNrLJF-hb_I

What happens to the dollar if the Eastern half of our world begins to peg their currencies to gold? Things are changing rapidly. Stay awake.

~~~~~~~~~~

WOW! Major US Banks Will Declare Bankruptcy Soon After The Fed Does This - Lyn Alden

https://youtu.be/atRXaomNNiA

~~~~~~~~~~

Yesterday, I shared with you an article about Iraq's budget and oil law.

Inside this article, it revealed a couple of sentences about Iraq having a revalued currency.

I just got word from our CBI Banker in Iraq that it was in fact true.

Here is the article from the CBI from yesterday:

https://cbi.iq/news/view/2299

~~~~~~~~~~

JUST IN - Several major U.S. banks subpoenaed for financial records belonging to the Biden family.

https://www.disclose.tv/id/100173/

~~~~~~~~~~

GOLD Backed Crypto Is Here!

https://youtu.be/3-zp842KRMA

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Follow Goldilocks Gold Nuggets on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

DINARRECAPS8 4/7/23 DINARRECAPS8 4/7/23

Iraqi News Highlights Friday Afternoon 4-7-23

Tlm724 Administrator Bondlady’s Corner

America: The Oil Agreement Between Baghdad And Erbil Represents A Victory For Iraq

Political | 05:42 - 07/04/2023 Baghdad - Mawazine News, US Assistant Secretary of State Barbara Leaf confirmed today, Friday, that the oil agreement between the federal government and the Kurdistan Regional Government represents a victory for all of Iraq. And the Kurdistan Regional Presidency stated in a statement, a copy of which Mawazine News received, that "the President of the Kurdistan Regional Government received a phone call from US Assistant Secretary of State Barbara Leaf."

Iraqi News Highlights Friday Afternoon 4-7-23

Tlm724 Administrator Bondlady’s Corner

America: The Oil Agreement Between Baghdad And Erbil Represents A Victory For Iraq

The statement added, "Leif congratulated the prime minister on signing the recent agreement with the Federal Prime Minister, Muhammad Shia'a al-Sudani, regarding the resumption of oil exports," stressing her country's support for the full implementation of the agreement, and said that what was achieved represents a victory for all of Iraq.

He continued, "The prime minister thanked the US Secretary of State for its support," noting that "the progress made with the federal government headed by Prime Minister Muhammad Shia'a al-Sudani lays the basis for a new era of long-term coordination between Erbil and Baghdad."

And he continued, "The two sides discussed, during the call, the latest developments and political developments, and also dealt with a number of issues of common concern." Ended 29 / m99

https://www.mawazin.net/Details.aspx?jimare=223984

US Congratulations On The Agreement To Resume Oil Exports From The Kurdistan Region

Friday 07, April 2023 17:49 | political Number of readings: 99 Baghdad / NINA / - Today, Friday, the President of the Kurdistan Regional Government, Masrour Barzani, received a phone call from US Assistant Secretary of State Barbara Leaf, congratulating him on the signing of the recent agreement with the federal government, regarding the resumption of oil exports.

Lev confirmed, according to a statement by the regional government, her country's support for the full implementation of the agreement, indicating that what has been achieved represents a victory for Iraq as a whole.

Barzani pointed out: The progress made with the federal government lays the foundation for a new era of long-term coordination between Erbil and Baghdad.

During the call, the two sides touched on the latest developments and political developments, and also dealt with a number of issues of common concern./ End 3

https://ninanews.com/Website/News/Details?key=1045570

The Romanian Ambassador To / Nina /: Iraq Is A Traditional Friend Of Ours.. And It Will Soon Become One Of The Most Important Countries In The Middle East

Friday 07, April 2023 17:20 | political Number of readings: 142 Baghdad / NINA / - The Romanian Ambassador to Baghdad, Radu Octavian Dobri, affirmed: "Iraq is a traditional friend of Romania, and there is a strong will on both sides to promote political dialogue."

He said in a special statement to the National Iraqi News Agency / NINA /: "Romania is keen to identify and develop opportunities for cooperation and to enhance mutual knowledge and understanding in all political, economic and cultural fields, despite the series of crises that struck the country and the world recently, such as the threat posed by ISIS." Or the Corona pandemic, and currently the war on our borders, has had an impact on the progress of bilateral relations.

He added, "Iraq is located in a very active geopolitical area, and I believe that it will soon become one of the most important countries in the Middle East. For the security of Romania and the European Union, it is of utmost importance that there be a politically stable and economically developed Iraq."

The Romanian ambassador affirmed his country's commitment to support Iraq in combating terrorism and violent extremism by strengthening the capacity of the internal security forces.

He continued: "The historical relations between Iraq and Romania were, traditionally, very good and there is still a lot to benefit from at the political, economic and cultural levels. In the post-pandemic period, we have made efforts to revitalize political and diplomatic dialogue at the level of foreign ministries. There are also solid foundations." high-level bilateral visits.

He continued, "Agreements in various fields are in the final stages of negotiations, and some of them are awaiting signature. In addition, important steps are being taken to enhance cooperation between the two parliaments.

And the signing of a memorandum of understanding between the Baghdad Municipality and the Bucharest Municipality, which will enhance friendship, cooperation and mutual understanding between the two local authorities."

And the public in the fields of investment, environment, culture, urban development, services, and infrastructure projects for the benefit of the two cities,

noting that his country participates in the efforts of the international coalition through training and advising the Iraqi security forces in fighting ISIS, as well as reforming the civil security sector.

Economically, the ambassador explained: "Romania has always maintained a commercial presence in Iraq .. Since the establishment of diplomatic relations in 1958, Romania has had an important contribution to the economic development of Iraq, especially in the oil and gas sector.

The current official figures for bilateral trade exchange, which reach Nearly half a billion US dollars, which does not reflect the reality, as an important part of the economic relations are conducted through third countries.Recently, we have been involved in several local infrastructure projects, thus transferring our experience in sectors such as hydro engineering and oil and gas sector

. To: “There are Romanian-Iraqi companies with mixed capital that have investments in real estate in the northwestern part of Iraq. Romanian information technology companies are waiting to apply for tenders to be launched by the Iraqi government for projects related to electronic governance and reform of the banking system.

And about scholarships for Iraqi students.. Dobre continued: For many years, the Romanian government, through the Ministry of Foreign Affairs, has been offering on an annual basis a number of scholarships to students from outside the European Union, including students from Iraq.

We are proud that many Iraqis who studied in Romania have returned to Iraq and brought with them the experience gained in our educational institutions and also maintained a close relationship with our country, playing an important role in the development of our cultural and economic ties.

He concluded by saying, "The past few years have witnessed an improvement in the security situation in Iraq and the successful organization by the Iraqi authorities of the twenty-fifth session of the Gulf Cup in Basra at the beginning of this year, and the best proof of that is that we have been contacted by organized tourist groups from Romania who wish to By traveling to Iraq to visit archaeological sites, not just religious ones. Iraq is a beautiful country with great tourism potential, however, stability remains a key factor in order to take advantage of this potential./ End

https://ninanews.com/Website/News/Details?Key=1045557

Oil Prices Recorded A Weekly Rise For The Third Time In A Row

Economy| 09:31 - 07/04/2023 Baghdad - Mawazine News Oil prices recorded a weekly rise for the third time in a row, after the expectations of crude markets were affected by the sudden decision of the "OPEC +" coalition to reduce production, in addition to the decline in inventories in the United States.

Prices posted their highest increase of the year on Monday, surging by 6.3% following the decision of the Organization of the Petroleum Exporting Countries and its allies to cut more than 1 million barrels of daily production starting in May.

Since that time, Saudi Arabia has raised the prices of its oil sales to customers in Asia.

Crude prices rose by 26% from their lowest level during the trading session in mid-March, when the banking crisis sparked a flight of risky assets. However, prices were actually recovering due to the increase in Chinese demand for fuel, and the weakness of the US dollar when the “OPEC +” coalition intervened by reducing production, frustrating those who sold oil short, and strengthening the recovery wave.

At the same time, geopolitical tensions are easing in the Middle East, as diplomats from Saudi Arabia and Iran meet to further improve relations and de-escalate their decades-old rivalry that has caused conflict and turmoil in oil markets.

US stockpiles of crude fell by 3.7 million barrels in the past week, adding to the supply crisis in the markets, as the country's stocks of gasoline and distillates declined.

Despite the fundamental market condition, traders will continue to monitor the economic figures in the United States to reveal signs and possibilities of recession in the economy, in addition to the Federal Reserve's decisions to raise interest rates.

In a note to clients, Francisco Blanche, an analyst at Bank of America, said: “The (OPEC +) alliance’s reduction in production will collide with raising interest rates by central banks aimed at curtailing demand, which poses risks to the macroeconomy. In the end, we adopt a constructive position.

https://www.mawazin.net/Details.aspx?jimare=223942

The Council Of Ministers Approves The Economic Reform Law Legislation

political| 11:48 - 07/04/2023 Baghdad - Mawazine News, Minister of Industry Khaled Battal Al-Najm counted today, Friday, the stopped factories in the country, and while he made clear the impossibility of re-operating most of them, he announced obtaining the approval of the Council of Ministers to legislate a law under the name of economic reform.

Al-Najm said, during a press conference, that "certain steps known to all have been taken in dealing with some contracts, and we have a review of all partnership contracts, which amount to 177 contracts at the ministry's headquarters, in addition to stopping some contracts and trying to treat some of them and referring some of them to the Inclusion Committee due to the existence of a waste of public money." ".

He added, "The ministry works within a clear government program, and we adopt strategic industries in Iraq represented in iron and steel, fertilizers, petrochemicals, medicines, sulfur, phosphates, and electrical industries represented by transformers and electric cables."

And he continued: "As for other detailed industries, we leave room for the private sector to grow, especially as it is important in bringing about a shift in Iraqi industries, and the Ministry of Industry is not only concerned with government industries and companies, but rather sponsors, supports and cooperates with the private sector, but rather offers it over public companies in many cases." detail industries.

Regarding the stopped factories, Al-Najm said: “The stopped factories amount to 104 factories, most of which cannot be worked in because they are outdated and outside the default age, as most of them date from the sixties and fifties,” noting that “some factories began work in them in the fifties, but they are still working, including Babylon Cement Factory, which started work in 1954, and Al-Rafidain Cement Factory in 1957.

And he added, "The old factories cannot be re-worked, but we went towards restructuring some companies according to the government program, and we are currently working on restructuring (the General Company for Textiles and Leather, and the General Company for Food Industries), and this does not mean canceling them or laying off workers, but we are studying the suspended factories It is workable, either we refer it to investment, or we stop it and dispose of it in accordance with the laws that allow that.”

With regard to the ministry's budget, the minister indicated that "the ministry's budget includes two parts, the first of which is the operational part through which salaries and other regulated operational expenses are covered, and the second is the investment part, as there are projects under construction, and there are funds allocated for their completion, while new projects will not be completed.

" We include, with the exception of important ruling projects,” stressing that “the Ministry of Industry is supposed to participate and contribute to financing the budget and not take from it.”

Regarding the transformation from socialism and entering into privatization and capitalism, the star said: "Part of this issue is related to the clear laws of the constitution, and our constitution in 2005 was working towards the market, but some laws are still represented by trademarks in 1957, and the industrial investment law in 1998, and others.”

And he continued: “Two weeks ago, we agreed in the Council of Ministers to work on legislating a law called (the Economic Reform Law). We take all the paragraphs from the various laws that have problems with implementation, and we try to put them in one law that goes to the House of Representatives to be legislated.”

He pointed out that "the holy shrines have industrial projects within the law, and they have industrial investment licenses," stressing that "the ministry deals with the shrines and all the private sector in a spirit of cooperation, as these factories contribute to the national economy."

He pointed out that "the Popular Mobilization Authority established the Engineer Company, but it has not yet started with actual projects, as it was established recently," stressing that "there is no objection to cooperation with the Engineer Company, the Holy Shrines and the private sector, as long as each specialization is preserved and there is no overlap in Work and inclination to a company.

He explained that "Iraq has a large import from Turkey and Iran, and it is not a commercial exchange. Part of this import is related to industries that we can establish in Iraq," pointing out that "

https://www.mawazin.net/Details.aspx?jimare=223965

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

https://www.bondladyscorner.com/

Dinar Recaps 20 4/7/23 Dinar Recaps 20 4/7/23

Awake-In-3D "USA Congressmen Introduce "Gold Standard" Bill to Stabilize the Dollar's Value"

Thank you Awake-In-3D

USA Congressmen Introduce “Gold Standard” Bill to Stabilize the Dollar's Value

I’m pleased to see Representatives from my State here in Arizona co-sponsoring a Bill to return the US Dollar to a Gold Standard!

The bill was introduced on March 30, 2023 to define the dollar as a fixed weight of gold, and for other purposes.

Upon passage of H.R. 2435, the U.S. Treasury and the Federal Reserve are given 24 months to publicly disclose all gold holdings and gold transactions, after which time the Federal Reserve note "dollar" would be formally repegged to a fixed weight of gold at its then-market price.

Federal Reserve notes would become fully redeemable for and exchangeable with gold at the new price.

Thank you Awake-In-3D

USA Congressmen Introduce “Gold Standard” Bill to Stabilize the Dollar's Value

I’m pleased to see Representatives from my State here in Arizona co-sponsoring a Bill to return the US Dollar to a Gold Standard!

The bill was introduced on March 30, 2023 to define the dollar as a fixed weight of gold, and for other purposes.

Federal Reserve notes would become fully redeemable for and exchangeable with gold at the new price.

I am skeptical that this Bill will gain much serious attention in Congress but it will serve to continue the public’s awareness on the difference between fiat currencies (debt notes) and money (true store of value).

Meanwhile…

Texas to Federal Reserve Bank: Screw your CBDC Slavery Plan!

New Texas Bill Would Create State-Issued Gold-Backed Digital Currency

Bills introduced in the Texas House and Senate would create a state-issued, gold-backed digital currency. Enactment of this legislation would create an option for people to transact business in sound money, set the stage to undermine the Federal Reserve’s monopoly on money and create a viable alternative to a central bank digital currency (CBDC).

Creating a gold-backed digital currency would be another step in the process of abolishing the Federal Reserve system.

The Texas Senate Bill 2334 was introduced on March 10. This legislation would require the state comptroller to establish a digital currency that is fully backed by gold and fully redeemable in cash or gold as well. The comptroller would also be required to create a mechanism to use this gold-backed digital currency in everyday transactions.

Source: @GCR_RealTimeNews

DINARRECAPS8 4/7/23 DINARRECAPS8 4/7/23

Friday Morning Iraq Economic News Highlights 4-7-23

State Of Law: The 2023 Budget Deficit Is Very High And Worrisome

Iraq 12:56 - 2023-04-07 The leader of the State of Law coalition, Turki Jadaan, confirmed, on Friday, that Parliament seeks to reduce the budget deficit by 50%.

"The 2023 budget deficit is very high and worrisome at the same time," Jadaan said in a press interview, pointing out that "there is an initial consensus in the House of Representatives to support the option of reducing it by 50%." He added, "Reducing the deficit is a priority in order to avoid tying the budget under great pressure, with the state of instability in the oil sale market due to the international crises, which have become more powerful in recent years."

Friday Morning Iraq Economic News Highlights 4-7-23

State Of Law: The 2023 Budget Deficit Is Very High And Worrisome

Iraq 12:56 - 2023-04-07 The leader of the State of Law coalition, Turki Jadaan, confirmed, on Friday, that Parliament seeks to reduce the budget deficit by 50%.

He pointed out that "the second reading of the budget law will deal with many items, especially with the intensity of meetings by the Finance Committee in order to resolve all outstanding points."

The House of Representatives completed the first reading of the budget law two days ago, in a positive step to speed up the resolution of the law. https://kirkuktv.net/AR/Details/14411

Parliamentary Finance Expects Approval Of The Draft Budget Law Until After Eid Al-Fitr

Economy 14:30 - 2023-04-07 A member of the Parliamentary Finance Committee expected the approval of the draft financial budget law until after Eid Al-Fitr.

Jamal Cougar said: "Until now, it is not known how long the budget will need for approval, but we expect that it will need between 20 days to a month," that is, after the blessed Eid al-Fitr holiday.

He added, "The preparation and legislation of the budget took the first half of the current year, so it does not lose its importance because this period from the operational side was spent on the basis of the State Administration Law 1/12."

Cougar pointed out, "Only the investment side was affected, and this can be compensated by withdrawing its amounts."

The House of Representatives had finished at dawn on Wednesday the first reading of the draft federal budget law for the Republic of Iraq for the fiscal years 1023, 2024 and 2025, and it is likely that it will proceed with the second reading in the coming days.

The government praised "the national and responsible position of the House of Representatives by completing the first reading of the draft general budget for the years 2023, 2024, and 2025."

Government spokesman Basem Al-Awadi said in a statement, "This interaction clearly indicates a spirit of high understanding by the people's representatives for the responsibility entrusted to them and their good appreciation for the conditions our country is going through and its urgent need to expedite the ratification of the budget, to take its way to implementation and enable the government to meet the needs." essential for citizens. https://kirkuktv.net/AR/Details/14416

Parliamentary Finance Reveals The Files Included In The 2023 Budget Bill

Friday 07, April 2023 08:54 | Economical Number of readings: 448 Baghdad / NINA / Member of the Finance Committee, Representative Adnan Al-Zorfi, revealed the files included in the 2023 budget draft law.

Al-Zarfi said in a blog on his personal page on Facebook: “One of the joyful things in the 2023 budget that deals with very sensitive files is the inclusion of the largest water desalination project in Basra Governorate, at a total cost of $3. billion.

He added: "The draft budget also included the establishment of integrated specialized centers for the diagnosis and treatment of cancerous tumors at a cost of $130 million for the benefit of the Ministry of Health."

He continued, "The allocations for the central Euphrates governorates reached their lowest levels in the 2023 budget."

He pointed out: "The Ministry of Commerce's budget has inflated at the expense of the Ministry of Agriculture and support for farmers within the 2023 budget."

He pointed out: "The acquisition by the Ministry of Municipalities and Public Works of most of the investment budget amounted to 4.9 trillion dinars, while the total budget for the development of the regions amounted to 2.5 trillion dinars within the 2023 budget."

And he continued: "The budget for 2023 included the appointment of 729 thousand new employees in various ministries and governorates."

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Oil closes stable, but it is gaining for the third week after the OPEC + decision

2023.04.07 - Baghdad - Nas Oil prices closed little changed on Thursday, but recorded gains for the third week in a row, as markets oscillated between further production cuts targeted by OPEC+ and falling US oil inventories on the one hand, and concerns about the global economic outlook on the other.

Brent crude closed up 13 cents, or 0.2 percent, at $85.12 a barrel. US West Texas Intermediate crude closed up nine cents, or 0.1 percent, to settle at $80.70. and a day off on Good Friday.

The two benchmarks jumped more than six percent this week after OPEC +, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, surprised the market on Sunday with pledges to cut production.

Hedge funds have been buying crude all week, returning to a "risk on" mode, said Dennis Kessler, senior vice president of trading at BOK Financial.

Prices were supported by a sharper-than-expected decline in US crude inventories last week, the second consecutive week in which they have declined. Gasoline and distillate inventories also declined, indicating higher demand.

However, the gains were curtailed by US labor market data, which indicated a slowdown in economic growth, as well as slower-than-expected growth in the services sector in the United States.

Reuters https://www.nasnews.com/view.php?cat=105176

Oil Achieves Gains For The Third Week.. Brent Crosses The $85 Mark

economy |Oil prices closed little changed yesterday, Thursday, but recorded gains for the third week in a row, as markets oscillated between further production cuts targeted by OPEC + and falling US oil inventories on the one hand, and concerns about the global economic outlook on the other .

Brent crude closed up 13 cents, or 0.2%, to $85.12 a barrel, while US West Texas Intermediate crude closed up nine cents, or 0.1%, to settle at $80.70.

The two benchmarks jumped more than 6% this week after OPEC +, which includes the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, surprised the market on Sunday with pledges to cut production .

Hedge funds have been buying crude all week, returning to a "risk on" mode, said Dennis Kessler, senior vice president of trading at BOK Financial.

However, the gains were curtailed by US labor market data, which indicated a slowdown in economic growth, as well as slower-than-expected growth in the services sector in the United States. LINK

Ina / The Council Of Ministers Approves The Economic Reform Law Legislation

April 7, 2023 9 Views Conscious / Baghdad / Today, Friday, the Minister of Industry, Khaled Battal Al-Najm, counted the suspended factories in the country, and while he made clear the impossibility of re-operating most of them, he announced obtaining the approval of the Council of Ministers to legislate a law under the name of economic reform .

Al-Najm said during a press conference carried by the reporter (Iraqi Media News Agency / INA) that "certain steps known to all have been taken in dealing with some contracts, and we also have a review of all partnership contracts amounting to 177 contracts." At the ministry's headquarters, in addition to stopping some contracts and trying to process some of them and referral, some of them are sent to the Inclusion Committee because there is a waste of public money. ”

He added, “The ministry works within a clear government program, and we adopt strategic industries in Iraq represented in iron and steel, fertilizers, petrochemicals, medicines, sulfur, phosphates, and electrical industries represented by transformers and electric cables. ”

And he continued: “As for other detailed industries, we leave room for the private sector to grow, especially as it is important in bringing about a shift in Iraqi industries, and the Ministry of Industry is not only concerned with government industries and companies, but rather sponsors, supports and cooperates with the private sector, but rather offers it over public companies in many cases.” of the detail industries .”

Regarding the stopped factories, Al-Najm said: “The stopped factories amount to 104 factories, most of which cannot be worked in because they are outdated and outside the default age, as most of them date from the sixties and fifties,” noting that “Some factories started working in them in the fifties, but they are still working, including Babylon Cement Factory, which started working in 1954, and Al-Rafidain Cement Factory in 1957. ”

And he added, “The old factories cannot be re-worked, but we went towards structuring some companies according to the government program, and we are currently working on restructuring (the General Company for Textiles and Leather, and the General Company for Food Industries ), and this does not mean canceling them or laying off workers, but we are studying the factories that are not suspended.” It is workable, either we refer it to investment, or we stop it and dispose of it in accordance with the laws that allow that.”

With regard to the ministry's budget, the minister indicated that “the ministry's budget includes two parts, the first of which is the operational part through which salaries and other regulated operational expenses are covered, and the second is the investment part, as there are projects It is under construction, and there are sums allocated for their completion, while new projects will not be completed.” We include, with the exception of important ruling projects,” stressing that “the Ministry of Industry is supposed to participate and contribute to financing the budget and not take it from it .”

And about the transformation from socialism and entering into privatization and capitalism, the star said: “Part of this issue is related to the clear laws of the constitution, and our constitution in 2005 was working towards the market, but some laws are still represented by trademarks in 1957, and the industrial investment law in 1998, and others .”

He pointed out that “the holy shrines have industrial projects within the law, and they have industrial investment licenses,” stressing that “the ministry deals with the shrines and all the private sector in a spirit of cooperation, as these factories feed into the wheel.” of the national economy. ”

He pointed out that “the Popular Mobilization Authority established the Engineer Company, but it has not yet started with actual projects, as it was established recently,” stressing that “there is no objection to cooperation with the Engineer Company, the Holy Shrines and the private sector, as long as each specialization is preserved and there is no overlap in work and inclination to a company .”

He explained that “Iraq has a large import from Turkey and Iran, and it is not a commercial exchange. Part of this import is related to industries that we can establish in Iraq,” noting that “there is an intersection of interests and problems in the Iraqi industrial sector for several reasons, including the lack of raw materials and the other part is related to the lack of the availability of continuous electric power, as here there will be additional production costs on the factory, and part of it is relatively related to the strength of the Iraqi dinar, as the trader is looking for a strong dinar and the industrialist is looking For a weak dinar, and the stronger the dinar, the more trade will increase in the expense of industry, and thus foreign trade will increase .

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