Iraqi News Highlights Wednesday Afternoon 5-3-23

Iraqi News Highlights Wednesday Afternoon 5-3-23

Tlm724 Administrator Bondlady’s Corner

Al-Halbousi: Iraq Is Looking Forward To Strengthening The Partnership With The United States

Parliament Speaker Muhammad al-Halbousi affirmed that Iraq is looking forward to strengthening the existing partnership with the United States of America, within the framework of the strategic framework agreement.  And the media office of the Speaker of the House of Representatives stated in a statement: “Al-Halbousi received the Assistant Secretary of State of the United States of America for Middle East Affairs, Barbara Leaf, and her accompanying delegation, and the meeting discussed bilateral relations and strengthening cooperation between the two countries in various fields, in addition to discussing a number of regional and international issues.” and files of common interest.

Al-Halbousi said, according to the statement, that "Iraq is looking forward to strengthening the existing partnership with the United States of America within the strategic framework agreement, and that the House of Representatives supports the government in implementing its government program in order to achieve development in all fields."

For her part, the US Assistant Secretary of State indicated her country's commitment to work to strengthen partnership and support Iraq's pursuit of development and stability.

https://www.radionawa.com/all-detail.aspx?jimare=34244

Sudanese Advisor: The Measure Of Success Of Governments Is Restoring Public Confidence

Political | 03:05 - 03/05/2023   Baghdad - Mawazine News   The media advisor to the Prime Minister, Hisham Al-Rikabi, confirmed today, Wednesday, that the measure of success for governments is restoring public confidence.

Al-Rikabi said, in a tweet to him on the "Twitter" platform, followed by Mawazine News, that "the measure of success for governments is restoring public confidence in them."

He added, "What the well-known journalist George Qirdahi spoke today at the Mineral and Petrochemical Investment Conference about the Sudanese government is an extrapolation of the reality of this government and its success in winning over the street."

https://www.mawazin.net/Details.aspx?jimare=225998

Al-Sudani: Iraq Is Capable Of Creating A Developed National Industry That Competes With International Industries

Posted On2023-05-03 By Sotaliraq   2023-05-03  Prime Minister Muhammad Shiya' al-Sudani said, on Wednesday, that Iraq is capable of creating a developed national industry that competes with international industries.

This came in a special dialogue on the sidelines of the first conference on mineral and petrochemical investment, fertilizers and cement held by the Ministry of Industry and Minerals under the slogan (Our mineral wealth is our sustainable economy towards a green manufacturing industry).

 “We are heading with promising plans for development, economy and reconstruction,” Al-Sudani said during the dialogue, calling on investors to seize the investment opportunities presented at the conference.

And he stressed that “we must think about other sectors that contribute to the gross domestic product other than oil, the most important of which is industry and agriculture,” noting that Iraq is the first in the world in sulfur reserves and the second in phosphate reserves, in addition to many untapped minerals.

He also indicated that there are natural resources that should be optimally invested, adding: We determine the partner's need from the private sector for the numbers of workers, and the rest is borne by the state.

He added that creating a supportive private sector to provide job opportunities is one of the priorities of the Iraqi state, and we are ready to provide all support and facilities to the local and foreign private sectors.

In turn, the Minister of Industry and Minerals, Khaled Batal Al-Najm, inaugurated the conference with a speech in which he said that the conference is the first of its kind to be held by the Ministry of Industry, and we look forward to establishing a real partnership with internal and external private sector companies.

He stressed the ministry's endeavor to contribute to the industrial sector in the domestic product and provide job opportunities to achieve the goals of national development through the optimal exploitation of mineral resources.

The minister also pointed out that the government decided to hold this conference to encourage participation opportunities to exploit our wealth by establishing factories that keep pace with the industrial development in the world.

He continued by saying that the ministry's vision is to focus on strategic industries that contribute to creating job opportunities for Iraqi youth, pointing out that the ministry's vision has made room for the private sector through the establishment of its own projects or through partnership contracts with government sector companies.

Al-Najm also said that the Ministry of Industry is fully supportive of the private sector, enabling it and benefiting from its capabilities in the ministry's companies through serious partnership contracts to achieve integration between the public and private sectors.

He pointed out that the ministry has developed solutions to many of the problems of the private sector as a first reform package, in addition to supporting the mixed sector and solving its problems, stressing the need to continue completing the industrial development map to be a work approach for development events in the industrial sector.

The first day of the conference also included a dialogue session with the Minister of Industry and Minerals and the President of the Federation of Iraqi Industries, during which they talked about the direction and vision towards integration between the public and private sectors and the facilities and support provided to the private sector wishing to participate with the Ministry's companies to establish factories and new industrial projects.

The conference aims to increase economic awareness of Iraq's resources and their ability to advance the country's economy and revitalize strategic industries in Iraq to achieve industrial and economic development. It will discuss over two consecutive days the future of minerals and investment in mining by presenting investment opportunities and projects available to the Ministry's companies in the sectors of mining, petrochemicals, fertilizers and cement.

In the various governorates, it will also include extensive dialogues and discussions within the axes of the conference that target the aforementioned sectors.   LINK

The International Monetary Agency Expects A Slowdown In The Growth Of The Economies Of Arab Countries In 2023

Economy   Wednesday, May 3, 2023 10:21 am  Follow-up / National News Center   The International Monetary Fund expects growth to slow in the Middle East and North Africa this year - and next year, with the start of restrictive policies aimed at combating inflation and the start of oil production cuts in oil-exporting countries.

In its report on growth prospects for the Middle East and North Africa, the fund said that the growth of the economies of the Middle East and North Africa region is expected to slow sharply this year, to reach 3.1 percent and 3.4 percent next year, compared to growth of 5.3 percent in 2022, for several years.

Most notably, the restrictive measures taken by countries to combat sharp rises in inflation rates, unprecedented rises in interest rates, and the ongoing repercussions of the Ukrainian crisis.

For Egypt, estimates indicate a slowdown in growth from 6.6 percent in 2022 to 3.7 percent in 2023 due to restricted financing conditions and the devaluation of the pound in the previous period, in addition to high inflation that will lead to the erosion of household purchasing power and weak growth in external demand.

The International Monetary Fund revised an increase of 0.3 percentage points for the growth of the Middle East and North Africa region last year in 2022 to 5.3 percent compared to October estimates, due to the strong economic performance in the oil-exporting countries (especially the Gulf economies) and Egypt.

However, the Fund warned of significant declines in the pace of growth due to the decline in oil production in the Gulf states, in compliance with the voluntary reduction decisions announced by the OPEC Plus countries, despite its assertion that oil-producing countries will benefit greatly from the high price levels of raw materials and will enable them to continue build up its financial reserves.

The Fund also expected that real GDP growth in oil-exporting countries from the Middle East and North Africa region would slow from 5.7 percent in 2022 to 3.1 percent in 2023, with this pace generally continuing in 2024, as a result of the oil production cuts that were agreed upon.

The IMF, despite the warning messages it sent to a number of countries, including Egypt, of the need to continue combating inflation and adopting a flexible exchange rate to protect the economy from external shocks, however, it reaffirmed that the economic conditions of the countries of the region are still much better than the average global growth, with the support of the reforms adopted by governments. And the durability of the financial sector, which succeeded in withstanding the Corona and Ukraine crises.

The IMF’s expectations showed that Morocco will achieve faster growth this year, due to the recovery of the agricultural sector after a severe drought in 2022, while growth remains weak in the non-agricultural sector.

The fund said, “The pace of growth is expected to gradually accelerate in emerging market and middle-income economies in the region (the Middle East and North Africa) in 2024, to reach 4.4 percent.

The Fund warned of exacerbating food insecurity and increasing poverty in fragile, low-income countries due to prolonged droughts and the cost of living crisis.    https://nnciraq.com/203118/

Commerce Announces The Launch Of The Electronic Deposit Service For Iraqi Companies

Wednesday 03 May 2023 16:05 | Economical Number of readings: 169

Baghdad / NINA / - The Ministry of Commerce announced today, Wednesday, the launch of the electronic deposit service for Iraqi companies, in cooperation with the National Data Center.

The ministry stated in a statement, "The Companies Registration Department in the Ministry of Commerce launched the Iraqi companies' deposit service electronically in cooperation with the National Data Center in the General Secretariat of the Council of Ministers through the Ur electronic portal. "

And he continued, "The department is moving towards electronic governance and a comprehensive digital transformation to work to improve institutional performance and support sustainable development to eliminate corruption in order to improve government services," pointing out that "

The Director General of the Department, Rashad Khalaf Hashem, said, according to the statement: "The service is characterized by the process of providing services electronically, which enables the citizen to automatically calculate and know the details of the required fees, activate the electronic payment feature for service fees, and transparency in the use of the service that enables follow-up of the transaction and receipt of notifications via mobile phone." As well as shortening the time and effort of the citizen and the employee together.    https://ninanews.com/Website/News/Details?key=1050988

Dollar Exchange Rates Continue To Rise In The Local Markets

Economy| 01:00 - 03/05/2023   Baghdad - Mawazine News  Today, Wednesday, the exchange rates of the dollar against the dinar recorded an increase in the local markets in all the country's governorates.

A Mawazine News correspondent said, "The buying and selling prices witnessed an increase in the exchange rates of the dollar in exchange shops in the local markets, as the selling price reached 144,000 dinars per 100 dollars, while the purchase prices reached 142,000 dinars per 100 dollars in the capital, Baghdad."   https://www.mawazin.net/Details.aspx?jimare=225979

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

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Goldilocks "The Fed News and More".....Wednesday 5-3-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links:

The FED is expected to raise interest rates, but what comes next is the question. Bank consolidations are expected going forward.

What people don't realize is that we have more Banks than any other Nation in the world, and some of these changes have been needed for some time even under a good economy.

The problem is that small Banks and midsize Banks are good for the local economy. There is a level of trust there and co-ownership possibilities you can't get in a Big Bank.

© Goldilocks

"US Supreme Court to Consider Curbing Authority of Federal Regulatory Agencies."

The SEC and the CFTC are currently at odds decisions being made over the cryptocurrency market.

The idea of who is in charge and who gives the final rules for these crypto currency assets are unclear along with the lack of regulations to govern.

Two appeals are happening at this time:

An appeal seeks to overturn ruling giving US agencies authority, and

The Court will take up the regulation case for review in October term.

© Goldilocks

https://coingape.com/us-supreme-court-agrees-to-abolish-us-sec-cftcs-powers/

https://www.bloomberg.com/news/articles/2023-05-01/supreme-court-to-consider-toppling-precedent-curbing-agencies

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"Wider Use of National Fiats of BRICS States to Precede Launch of Single Currency."

At this time, the BRICS Nations in the East are choosing to promote their National paper currencies before they move into a single asset-based trading digital currency.

The broader use of their local paper currencies will add value to them through demand. This new demand on local currencies will help to sustain countries from within before reaching out into a broader context collectively.

© Goldilocks

https://news.bitcoin.com/brics-to-promote-national-currencies-before-issuing-common-one/

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Wednesday Morning Iraq Economic News Highlights 5-3-23

Wednesday Morning Iraq Economic News Highlights 5-3-23

Parliamentary Finance: A Government Move To Reduce The Budget Deficit By 18 Trillion Dinars

Economy |Baghdad today – Baghdad   Today, Tuesday, the Parliamentary Finance Committee revealed a government move to reduce the deficit rate in the financial budget by 18 trillion dinars.

Committee member Mueen Al-Kadhimi said in a televised statement, followed by (Baghdad Today), "There is a tendency by the government to reduce the budget deficit rate by 18 trillion dinars," denying what is reported about reducing the deficit rate from 60 trillion to 25 trillion dinars.

He added, "There is no such direction by the government," noting that "because state employees currently number four million and one hundred thousand employees, they alone need this amount, which is 60 trillion dinars, spent as salaries for them."

Al-Kazemi continued by saying, "The financial management law allowed the government to present the budget for three years," pointing out that "the first year of the budget is considered the first and obligatory year to be followed by the two years, successively."

It is noteworthy that the Parliamentary Finance Committee continues its meetings with ministries and government institutions regarding the financial budget for the year 2023, whose deficit amounts to 63 trillion and 275 billion dinars.   LINK

A Detailed Talk About The Budget.. The Outputs Of The Finance Committee Meeting With The Heads Of Parliamentary Committees

Money  and business  Economy News / Baghdad  The House of Representatives revealed, on Tuesday, the details of the Parliamentary Finance Committee meeting with the heads of parliamentary committees regarding the 2023 budget law.

And the parliament’s media stated in a statement that the remarks of the heads and members of the parliamentary committees included “allocating funds to finalize the file of the displaced and returning them to their areas according to a specific program, the electricity sector and service collection to increase revenues, paying debts owed by the state to purchase energy, the issue of retirement, bank exemptions, and automating the financial program in the bank and departments.” affiliated, in addition to the issue of concluding government contracts, with interest in the health sector, building cancer centers, and paying attention to the health reality.

It also discussed "finding appropriate solutions to the file of contracting the Ministry of Education for those who have direct contacts and previous identification papers in the ministry due to the availability of the funds allocated to them and supporting the construction of schools, with a discussion of increasing the allocations of the Ministry of Higher Education to develop universities and infrastructure, supporting the scholarship system to keep pace with scientific development, and appointing top performers annually.

And calculating the certificate obtained by the employee before and after appointment, calculating the service of confirmed contracts, allocating funds to confirm contracts after 10/2/2019, and adapting their conditions to their peers before the previous date.

It was demanded that "the inclusion of a paragraph to install operational contracts and daily wages in the Diwan of the Sunni and Shiite endowments, for those who have contractual service, and to include the necessary amounts for building the building of the Hajj and Umrah Authority, with the allocation of funds to the governorates for the implementation of projects and the development of regions, and the reconstruction of affected areas, in addition to the need to finance a project Empowering women and adding a paragraph regarding them.

The proposals also included "the agricultural sector, the file of agriculture and water, the allocation of funds to solve the water scarcity crisis due to climate change, the trend towards modern technologies in irrigation and farm workshops to support farmers, as well as support for livestock, the operation of government mills, poultry fields, and a plan to take care of the marshes, in addition to the allocations of a regulator to invest in water.

On the security file, the interventions included "financial allocations for the issue of the termination of their contracts in the Ministries of Defense and Interior and the opening of contracts for the Ministry of the Interior to support the security services, as well as ending the file of examiners in the two ministries, listening to proposals to convert the military staff to civilians, a project to automate the system in the two ministries, and finding effective solutions to the issue Awakenings.

The sports aspect was also discussed and a sum of money was allocated to help the disabled athletes in the Paralympic Committee to end their suffering, in addition to confirming the contracts of the Ministry of Youth and Sports.

The Finance Committee requested "to provide it with the notes in official books for detailed examination."   https://economy-news.net/content.php?id=33976

A Government Advisor Reveals "Exciting" Details Regarding Salaries And Budget

Economy  2023-05-02 | The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed, on Wednesday, the problem related to salaries in the Iraqi state, indicating that the solution to this matter is to support low grades, while pointing out that the deficit constitutes a third of the budget.

Saleh said, during his interview with the program "Balmokhtaz" broadcast by Alsumaria TV, that "there is a civil service law, which defines issues regarding salaries and is linked to the retirement law," adding, "However, during 20 years, many legislations with privileges were enacted."

He added, "There are huge discrepancies between employees' salaries, and there is a huge difference," considering that "the problem is in the rule of justice, and in fact there is no justice, and it is a major problem."

Saleh pointed out that "in the long term, salaries must be restructured rationally, and an income standard must be set to be reviewed under the heading of the cost of living," stressing by saying, "National and political consensus is needed, and the solution to the issue is to support the low grades of retirees or employees."

Regarding the draft budget law, which the House of Representatives completed its second reading, Saleh said, "The deficit constitutes a third of the budget at 63 trillion dinars, and we can reduce the effects of the deficit," explaining that "there are strategic projects that must be implemented, and the loss is a loss of time."

He added that "150 trillion dinars are operational, 90 trillion of which are salaries, wages, pensions and social welfare," noting that "less than 50% of the operational budget goes to the salaries of the security services."   LINK

“It Satisfies America And May Disturb Iran.” The “Giant” Gas Project Will Be Completed Soon

The “Oil Price” international network concerned with oil affairs revealed today, Tuesday, the near completion of the “Halfaya” gas project, which it described as “giant” before its official handover date, noting that it will satisfy the United States and reduce dependence on Iranian gas.

The network said in its report that the “giant” gas project will officially enter into operation at the beginning of the next 2024, with the acceleration of the pace of implementation by Chinese companies and the French “Total Energy” company, which returned to the Iraqi market after a full agreement with the government last month regarding its previously lagging contract in the country.

The network confirmed that the project, of which PetroChina owns 45% and Total Energy 22.5%, will not only provide Iraq with a large amount of gas needed to operate its own power stations, but will also provide other benefits to the country on the economic level.

The network also stated that “the success of the project and its entry into operation before its scheduled date will present several positive points for Iraq, the first of which is that it will satisfy the United States of America and reduce its pressure on the Iraqi government to reduce dependence on gas imports, especially from Iran.” Second, it will represent a positive point in Iraq’s commitment to implementing Similar energy contracts.”

And finally, “the project also represents an opportunity for Western companies to look at the Iraqi energy market positively and encourage them to invest in it despite the great Chinese competition,” according to its description.

The Halfaya gas project is located in the southeast of the city of Amarah in Maysan Governorate and contains an estimated storage of oil amounting to 4.1 billion barrels, which the newspaper said about it “will provide Iraq with great privileges in terms of the international energy market, as well as protecting the Iraqi environment from burning emissions.”   https://takadum-news.com/archives/162341

The Exchange Rates Of The Dollar In The Iraqi Stock Exchanges

Economy   5,865 views  Alsumaria News – Economy  Alsumaria News publishes today, Wednesday, the exchange rates of the dollar against the Iraqi dinar on the Iraqi stock exchanges.

The selling price of the dollar was 142,900 dinars per 100 dollars, while the buying price of the dollar was 143,250 dinars per 100 dollars.

And the Central Bank of Iraq decided, earlier, to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of purchasing a dollar from the Ministry of Finance  reached 1,300 dinars per dollar and sold it at (1310) dinars per dollar to banks through the electronic platform, and sold at (1320) dinars per dollar. dollars from banks and non-bank financial institutions to the final beneficiary.  LINK

The Exchange Rates Of The Dollar In The Iraqi Stock Exchanges

WED, 03-05-2023, TAYSEER AL-ASADI   The selling price of the dollar recorded 142,900 dinars per 100 dollars, while the buying price of the dollar recorded 143,250 dinars per 100 dollars.

 And the Central Bank of Iraq decided, earlier, to adjust the exchange rate of the dollar against the Iraqi dinar, as the price of purchasing a dollar from the Ministry of Finance reached 1,300 dinars per dollar and sold it at (1310) dinars per dollar to banks through the electronic platform, and sold at (1320) dinars per dollar. dollars from banks and non-bank financial institutions to the final beneficiary

https://non14.net/public/156667

An Economist Demonstrating How To Bridge The Junction Between Government And Parliament Over Budget Amendments

Today  Information / Baghdad..  The specialist in economic affairs, Muhammad Al-Saadi, explained how to overcome the intersections that may occur between the government and parliament regarding the latter’s amendment of some paragraphs of the budget, which creates a change in the government’s plan and program according to which the budget was drawn.

Follow the "information" channel on Telegram.. news that does not need to be documented..

Al-Saadi told Al-Maalouma, that "the House of Representatives is unlikely to make substantial amendments to the items of the financial budget, as the discussions that the Finance Committee is conducting with the executive authorities is a positive case in reviewing the ministries' allocations of operational expenses and investment allocations and constitutes a kind of transparency." Knowing the gates of exchange.

He added, "The parliament's amendments do not constitute any obligation on the government to reduce expenditures, except in the case of transfers, which is unlikely because it affects the government's plan to implement its ministerial program."

Al-Saadi stressed the need for there to be an initial agreement between Parliament and the government regarding the amendments to block any step towards the appeal that previous governments have always followed with the budget amendments. LINK

Al-Sudani: The Government Has Placed Associated Gas Investment Among Its Priorities

Information/Baghdad.. Today, Tuesday, the Prime Minister, Muhammad Shia Al-Sudani, directed the competent authorities to facilitate the work requirements of the staffing of the operating oil companies, while stressing that the government has placed the associated gas investment among its priorities.

The media office of the Prime Minister stated in a statement received by Al-Maalouma Agency, that "Prime Minister Muhammad Shia'a Al-Sudani received today, Tuesday, a number of representatives of international oil companies, and during the meeting they reviewed the overall progress in the oil investment sector, and the development of the partnership between Iraq and the companies." world leader in this field.

He added, "The Prime Minister was briefed on the progress of work in the fields of extraction, expansions, and implementation of bilateral contracts, and the most important obstacles that impede the work of companies and the speedy implementation of their obligations with the Ministry of Oil."

He directed the competent authorities to "work requirements for operating companies' staffing, in terms of granting entry visas, expediting customs clearance and tax accounting."

Al-Sudani stressed "the need to take into account the environmental determinants on the part of companies, and according to the agreements signed with Iraq, in order to preserve the Iraqi environment."

He pointed out that "the government has placed associated gas investment among its priorities, in order to benefit from this wealth as soon as possible, and to achieve self-sufficiency in this vital material."

The Prime Minister urged the oil companies that signed the “fifth licensing round” to expedite the implementation of their contracts, and to keep him informed continuously of the paths of progress, stressing that Iraq is ready to support its economic partners and welcomes development proposals, just as it deals positively with observations seeking to overcome problems and overcome obstacles in cooperation. With the Ministry of Oil.”    LINK

"Tidbits From TNT" Wednesday Morning 5-3-2023

TNT:

Tishwash:  After the general managers.. an upcoming cabinet reshuffle package

 Today, Wednesday, the coordination framework announced the intention of Prime Minister Mohamed Shia Al-Sudani to carry out a cabinet reshuffle in his cabinet.

The leader in the framework, Ali al-Fatlawi, told (Baghdad Today) that "after making a change in the positions of general directors in most state institutions, Prime Minister Muhammad Shia al-Sudani is determined to carry out a cabinet reshuffle in his cabinet, away from any political interference."

Al-Fatlawi said, "What Al-Sudani is doing is evidence of his intention to implement his government program, which was voted on by the House of Representatives," adding that "the coordination framework supports all of Al-Sudani's steps."

He pointed out that "the ministerial reshuffle will take place in the coming days, and that the Sudanese is currently evaluating the work and performance of the ministers after six months of his government's life."

Yesterday, Tuesday, the Council of Ministers voted to dismiss the first group of the 57 general directors between Asala and Agency.

The dismissal comes after the evaluation committee completed its initial report, after the Prime Minister, Muhammad Shia’a Al-Sudani, set at the beginning of forming his government a period of (3-6) months to assess the ministers and officials and indicate the extent of their commitment to implementing the provisions of the government platform that the Federal Parliament voted on during the weeks. past.  link

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Tishwash:  The Iraqi government dismisses about 60 general directors in its ministries

Today, Tuesday, the Iraqi Prime Minister, Muhammad Shia'a Al-Sudani, approved a wide package of reform decisions, which included the approval of the dismissal of about 60 officials with the rank of director general in various ministries, as part of what he considered the first batch of a comprehensive change process in the positions of general managers in the country.

The decision, which is the first of its kind in terms of the number of dismissals of senior administrative positions in the country, came six months after the Sudanese government was granted confidence on October 27 last year.

The dismissal decisions included general managers in various ministries and agencies inside Baghdad and the various governorates of the country, which is likely to have taken place with a political consensus between the blocs and parties, as Al-Sudani seeks to avoid expected waves of protest with the onset of summer, especially with the continued poor supply of electricity and water to regions, especially in the cities of southern Iraq. most densely populated.

A statement by the Iraqi government, issued after a cabinet meeting that lasted for several hours in the capital, Baghdad, said, "Today, Tuesday, the cabinet approved the dismissal of the first group of general managers who failed to evaluate."

The statement added, "As a commitment from the government to implement the principles of administrative reform within the priorities of work, the Council of Ministers approved the recommendations of the General Managers Evaluation Committee, which included transferring general managers who did not obtain a positive evaluation to a lower degree than the one he occupied before his appointment as general manager." Pointing out that their replacements will be from the same workforce within the ministry from which they were dismissed.

An official in the Iraqi government told Al-Araby Al-Jadeed that "the total number of general managers who will be dismissed exceeds 400 general managers in various state ministries." In a way that the replacement is gradual and does not cause confusion in institutions and ministries.

The official pointed out that "most of the dismissed general directors are directors of general directorates in the governorates who have suspicions of corruption, or they spent years, some of them up to 12 years, without change," speaking of the achievement of a political consensus in the week preceding the Eid holiday about these changes, which come "before the initiative of Prime Minister Mohamed Shia Al-Sudani is against any partial cabinet reshuffle in his government.

The researcher on Iraqi political affairs, Shaho Al-Qara Daghi, commented on the new decisions on his Twitter account that "the cabinet votes to dismiss the first batch of general managers, who failed to evaluate according to a set of criteria, with directives that replacements for general directors should be from ministries." the same, and that the partisan and political background should not affect the selection process.”

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CandyKisses:  Iraq is the biggest reason for the decline in OPEC production

OPEC's oil production declined for the month of April, with Iraq's exports falling by 80% due to the suspension of a pipeline, at a time when a labor strike in Nigeria led to the cessation of its exports.

The volume of production decline from the Organization of the Petroleum Exporting Countries reached about 310,28 barrels per day, reaching an average of 8.<> million barrels per day, the lowest level in almost a year, according to a survey by "Bloomberg".

Last month, OPEC and its allies announced new production cuts from this month to support global oil markets, but major changes in supply in April were not intended, and Iraq contributed about 80 percent of this decline.

The dispute between the central government in Baghdad and the Kurdistan Region has halted the pipeline, which normally transports 500,<> barrels per day to international markets via Turkey.

In Nigeria, the recovery in oil production during the last presidential election has faded after a labor action in the sector forced ExxonMobil to pull back shipments from several terminals last month.

However, reduced supplies from OPEC and its allies — both planned and occasional — have not significantly supported the oil market, which faces concerns about economic growth in China and the world at large.

Oil futures fell below $72 a barrel for U.S. crude and $75 for Brent, the lowest since March.

Production of the entire 23-nation OPEC+ alliance is expected to fall by an additional 1.2 million barrels per day this month as the new cuts take effect.

Russia, another member of the OPEC+ alliance, also announced production cuts in response to sanctions caused by its invasion of Ukraine, but the extent to which it will implement the move remains unclear.

It is noteworthy that a meeting of the "OPEC+" alliance is scheduled to be held on the fourth of next June, with the aim of reviewing production levels for the second half of the year.

Mot: .. Aaaaaahhhhh - the Modern Age!!! ~~~~~

Mot:  .. First Time Dad i-tis .......

Iraqi News Highlights Tuesday Afternoon 5-2-23

Iraqi News Highlights Tuesday Afternoon 5-2-23

Tlm724 Administrator Bondlady’s Corner

Al-Sudani: The Government Is Proceeding With The Procedures For Recovering The Looted Funds And Those Who Are Legally Wanted

Money  and business  Economy News – Baghdad  Prime Minister Muhammad Shia al-Sudani affirmed, on Tuesday, that the government is proceeding with the procedures for recovering the looted funds and those who are legally wanted.  Al-Sudani's office said in a statement that the prime minister received the head of the Supreme Judicial Council, Judge Faeq Zaidan.

The two parties discussed "the latest developments in the situation at the national level, the progress of government agencies in implementing the service and reform program, and their efforts in combating corruption, which is reflected in comprehensive development."

Al-Sudani stressed, "the importance of assigning the judiciary to the government's efforts in combating corruption and prosecuting the corrupt," noting that "the government is proceeding with the procedures for recovering looted funds and those legally wanted, and assisting the Iraqi judiciary and its legal and constitutional paths."    https://economy-news.net/content.php?id=33968

 The Price Of The Dollar Increased In Baghdad With The Closing Of The Stock Market

Economy   May 2, 2023   Baghdad / The National News Center  The exchange rates of the US dollar rose against the Iraqi dinar, today, Tuesday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange in Baghdad closed at an exchange rate of 143,100 Iraqi dinars for 100 dollars, while the prices this morning were 142,400 dinars for 100 dollars.”

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 143,500 Iraqi dinars, while the purchase prices reached 142,500 dinars per 100 dollars."    https://nnciraq.com/203018/

Central Bank Sales Increased To More Than 183 Million Dollars

Economy   Tuesday, May 2, 2023 Baghdad / National News Center  The Central Bank of Iraq's sales of foreign currency rose today, Tuesday, to record about $183 million.

According to the schedule of the currency sale window, followed by the National News Center, the Central Bank sold during its auction today 183,008,944 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in the form of monetary.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $162,108,944 million, while the remaining $20,900,000 million went in the form of cash sales.    https://nnciraq.com/202959/

The Prime Minister Stresses The Importance Of Strengthening The Tracks Of Cooperation Between Iraq And The United States Of America

Prime Minister Muhammad Shia Al-Sudani stressed the importance of strengthening cooperation paths between Iraq and the United States of America.

The media office of the Prime Minister said in a statement, "Prime Minister Muhammad Shia' al-Sudani received the Assistant Secretary of State of the United States of America for Middle East Affairs, Barbara Leaf and her accompanying delegation," noting that "during the meeting, they discussed bilateral relations between the two countries, and discussed A number of regional and international issues and files of common interest.

The Prime Minister stressed "the importance of strengthening the paths of cooperation between Iraq and the United States of America, and ways of developing them within the strategic framework agreement, especially in the fields of industry, trade and education."

He referred to "the government's work priorities in implementing programs and plans that contribute to achieving economic development, especially in the field of energy."

For her part, the US Assistant Secretary of State referred to the "development in the relationship between the two countries," stressing that her country "is looking closely at the relationship with Iraq, due to its importance and status in the region." https://www.radionawa.com/all-detail.aspx?jimare=34229

Mazhar Muhammad Saleh To / NINA /: The Oil Price Remaining At $80 Will Gradually Reduce The Budget Deficit

Tuesday 02 May 2023 11:25 | Economical Number of readings: 505   Baghdad / NINA / - The government's financial adviser, Mazhar Muhammad Salih, confirmed: that the oil price remaining at $80 will gradually reduce the state's general budget deficit.

He told the National Iraqi News Agency ( NINA ): What OPEC + made of the decision to reduce voluntary production of member countries throughout the current year by about 1.5 million barrels and in different shares undoubtedly comes as a result of the fluctuations in the geopolitical situation and its effects in Russia or the battlefields.

Saleh added: The decision of OPEC + came in line with the geopolitical control of energy flows in the world, which is dominated by preparations for the ongoing field war between East and West.

He explained: The default price for calculating oil revenues in the draft general budget in Iraq is $70, and the annual average of crude oil prices is about $80 per barrel, which will reduce the hypothetical deficit gap of 63 trillion dinars, provided that the decrease in Iraq’s share of controlling production is compensated and excessive consumption is avoided locally. Crude oil, in order to maintain the maximum revenue for the public budget with the least possible deficit./End 3

https://ninanews.com/Website/News/Details?Key=1050629

The Iraq Stock Exchange.. Trading Indicators Of Joint-Stock Companies Rose 8% In April

Money  and business  Economy News / Baghdad  The Iraqi Stock Exchange announced, on Tuesday, the trading indicators of shares of joint-stock companies for the month of April 2023.

The executive director of the market, Taha Ahmed Abdel Salam, said in a statement that the market organized (17) trading sessions for the shares of the Iraqi joint-stock companies listed in the market, which numbered (102) joint-stock companies, in the month of April 2023.

The market did not organize the trading session on 13/4 due to declaring it an official holiday. And the trading sessions for the days (20), (23) and (24) of April 2023, as it coincides with the Eid Al-Fitr holiday.

The number of companies whose shares are traded is (68) joint stock companies, while the number of shares traded in the market is (88) billion shares, and the value of shares traded is more than (49) billion dinars.

As for the number of executed transactions, it reached (8,633) transactions, while the ISX60 traded stock price index closed at 638,710 points in the first session of April and 695,960 points in the last session of April.

The index had closed in the last session of March at 641,460 points, and thus the ISX60 index achieved an increase of 9% in the month of April compared to its beginning, and achieved an increase of 8.5% compared to its closing in the month of March.

The Iraq Stock Exchange continues to organize trading sessions in accordance with the trading regulations, the following times, using electronic systems:

Pre-Open Order Entry Period 9:30 – 10:00

• Trading session - opening, trading and closing 10:00 - 1:00

• Big Deals and Contradictory Session 1:00 - 1:30

https://economy-news.net/content.php?id=33973

A New Decline In Global Oil Prices

Economy|  02/05/2023  Follow-up - Mawazine News  Oil prices fell in weak Asian trading in early Tuesday, as the market absorbed weak economic data from China and expectations of raising US interest rates again.   Brent crude fell 2 cents to $79.29 a barrel by 0021 GMT.

US West Texas Intermediate crude also fell 2 cents to $75.64. Both benchmarks fell by more than $1 in the past session. https://www.mawazin.net/Details.aspx?jimare=225869

Oil: Last Month's Revenues Amounted To $7.7 Billion

Economy| 01:08 - 02/05/2023  Baghdad - Mawazine News   The Ministry of Oil announced, on Tuesday, that revenues for the month of April amounted to more than 7 billion dollars, while it indicated that the average price per barrel was more than 79 dollars.

A statement by the ministry stated, "The total exports and revenues achieved for the month of April, according to the preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO), amounted to 98 million and 634 thousand and 947 barrels, with revenues amounting to (7.796) billion dollars."

He added, "The total exported quantities of crude oil for the month of April from the oil fields in central and southern Iraq amounted to 98 million and 634 thousand and 947 barrels," noting that "the average daily quantities exported amounted to 3 million and 288 thousand barrels per day, and that the average price per barrel It amounted to more than (79.04) dollars. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=225885

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

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Goldilocks "Current Conditions, Explanations, Comments and Links" 4-2-2023

Goldilocks and Seeds of Wisdom

Thank you RJ 

RJ: Good morning Dinar Recaps,

Goldilocks posted current conditions, explanations, comments, and links:

Small business pulse check wage and job growth are beginning to slow.

Liquidity is beginning to tighten increasing this issue.

And, it is the small businesses that drive the economy that is lagging.

Australia's Central Bank surprises with rate hike of 25 basis points.

Treasury Secretary Janet Yellen warns the US could reach the debt limit as early as June 1st.

Congressional leaders are meeting at the White House for debt limit crisis on May 9th.

HSBC Q1 profit more than triples on higher rates and plans 2 billion in BuyBacks.  

BP Q1 profit rises to 5 billion as shares buy backs are reduced.

Morgan Stanley to cut 3,000 jobs in Q2 as deal-making slumps.

IBM expects to pause hiring for thousands of jobs and could be replaced by artificial intelligence.

FDIC recommends raising insured deposit limits for businesses.

Hollywood writers go on strike today after talks saying they face existential crisis.

Asian markets mixed ahead of the FED meeting.

Mainland China closed for Labor Day.

European markets mixed as investors look ahead to Fed meeting.

Oil is steady ahead of the FED meeting.

ECB meetings this week as economic fears are being weighed against potential US crude draw.

Gold prices are flat on caution ahead of Fed meeting.

Not only are big Banks buying out small Banks, but it looks like big companies are buying out small companies.

Reversing these trends for the middle class looks as though it is going to have to come from within.

It starts where you live. It is time that people rise up from the ashes and recreate the destruction of the middle class with collaborative efforts in his or her community.

We have people who will soon receive a lot of money that are thinking big. We already have a lot of that going on at this time. You might just want to look in front of you.

If you want an example of a country that is rising from the ashes, look no further than the 1st article below.

© Goldilocks

https://cbi.iq/news/view/2317

https://www.reuters.com/markets/rates-bonds/bond-investors-fearing-recession-boost-safety-bets-ahead-fomc-2023-05-01/

https://www.forbes.com/sites/simonmoore/2023/05/01/fed-expected-to-raise-rates-again-the-bigger-question-is-what-follows/

~~~~~~~~~~

Get ready for changes to happen in the global markets and the global economy.

Crypto regulations are setting the stage for massive changes in the way we do business on every level.

Congress has set a huge priority on completing the digital currency reforms within the next 2 months that will guide our banks and markets going forward.

Below are two major concerns that they have in designing guidelines and regulations to set protocols that will move us forward:

1. "Joint Committee hearings set the stage for crypto oversight."

2. "National security and cybercrime focus in new bill."

Look for a new legislation and laws to be implemented by the end of June.

© Goldilocks

https://www.benzinga.com/markets/cryptocurrency/23/05/32127050/get-ready-for-change-us-government-to-ready-crypto-regulations

~~~~~~~~~~

Artificial Intelligence is cornering the market. AI intelligence driven investment plans are moving from the trading platform to local businesses.

These machine driven mechanisms are capable of plotting paths forward into the future of a business we have not seen before in history.

In many cases, a 30% or more in production effort and success are being seen.

Stablecoin regulations are at the heart of this new frontier, and it is here to stay.

© Goldilocks

https://viewpoints.reedsmith.com/post/102idpp/stablecoins-and-machine-learning-the-future-of-investment-trading

~~~~~~~~~~

Decade long rally leaves U.S. currency as much as 15% overvalued, Goldman Sachs says"

The US economy is no longer seen as the exception.

Since last September, the dollar has fallen over 8%.

Look for the leveling off of currencies to commence at any moment.

As the dollar falls, other currencies will rise around the world as well as gold that backs them.

© Goldilocks

https://www.wsj.com/articles/the-air-has-come-out-of-the-dollar-36c4c03f

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Tuesday Morning 5-2-2023

TNT:

CandyKisses: :  Prime Minister: We congratulate Iraq TV on the 67th anniversary of its founding

Baghdad - Waa

Prime Minister Mohammed Shia Al-Sudani on Tuesday congratulated the 67th anniversary of the founding of Iraq TV.

Al-Sudani said in a tweet followed by the Iraqi News Agency (INA): "We congratulate Iraq TV and all its creative staff on the 67th anniversary of its founding, to be the first Arab television to start broadcasting to viewers."

He added, "While remembering and celebrating this occasion, we praise the hands of all its workers to be contributors to building our beloved Iraq, and to the custodians of its national and humanitarian media message

CandyKisses:  For the purpose of resolving the budget paragraphs. Parliament receives 15 governors today

Information / Baghdad.The Parliamentary Committee of the Region announced the hosting of 15 governors during its meeting today to discuss the details of projects within the budget, likely to pass the budget within the next 10 days.

Member of the committee, Representative Muhammad Al-Shammari, said in a statement to Al-Maalouma, that "his committee will host today, Tuesday, 15 governors for the purpose of discussing the needs of each governorate separately from the general budget and the funds allocated for the reconstruction of the governorates and determining the priority of projects in each governorate." 

He added, "After the hosting is completed, a special report will be prepared for the purpose of presenting it to the Parliamentary Finance Committee through a joint meeting between the two parliamentary committees." 

Al-Shammari indicated that "approving the budget and voting on it will be during the next 10 days, after the meeting of the State Administration Coalition." 
According to government data, the total budget for the current year amounts to 197.828 trillion dinars (about 140 billion dollars), while the operational budget is 150.273 trillion dinars, while the investment amount is 47.555 trillion dinars.

The deficit ratio reached 63.275 trillion dinars at a price of $70 per barrel of oil, given that more than 95 percent of budget revenues depend on oil sales.

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Tishwash:  A report reveals undisclosed reasons for the delay in approving the budget and confirms: Al-Sudani has become worrisome

Together, the political and parliamentary blocs were unable to resolve the differences regarding the financial budget for the current year (2023), while the government of Muhammad Shia al-Sudani presented a budget described as ambitious for the next three years.    

And at a time when the Iraqi parliament’s schedule for today’s session (Tuesday) is devoid of discussing the most important issue awaiting millions of Iraqis, which is the country’s financial budget, which has been stalled for nearly two years, however, it included issues such as Iraq’s accession to the basic system of the Islamic Organization for Food Security or a draft law ratifying an agreement between the government of the Republic. Iraq and the Republic of Tunisia regarding air services between their territories. 

The main reasons for not approving the budget, even though it was read twice; This should have paved the way for a vote on it, some of which are due to undisclosed reasons, which is the unwillingness of some political forces to free the hand of Prime Minister Muhammad Shia al-Sudani, who launched a large group of service projects that need financial cover for their implementation, which means from the point of view of some Those forces are a success for the prime minister, who seems to be about to implement everything he pledged, away from the vision of the political forces, who are accustomed to not deviating from any prime minister.    

And according to identical political sources through what is going on in the secret rooms, after it seemed that the budget was finally completed and ready for voting, what al-Sudani announced his desire to conduct a cabinet reshuffle made many political forces reconsider their accounts regarding it, including reviewing the issue of approving Balance, by returning to the origin of the differences that should have been settled in the first and second readings.    

The objections expressed by some political forces were represented in three points, namely that the budget is for three years, not one year, and the second is that the budget contains a large deficit, and the third is represented in the price of one barrel of oil against the dollar, which is $70 per barrel, with the fear of the possibility of a drop in oil prices. .    

Al-Sudani, who did not make concessions, has become worrisome to many, in addition to his insistence on the cabinet reshuffle and his initiation earlier this week of implementing the first two major projects to relieve traffic jams in the capital, Baghdad, which indicates his progress in implementing his plans with a clear quest to make the political blocs confront the angry street. However, some political blocs have something to put pressure on the government even if it is part of his responsibility, such as the issue of the "salary scale".    

Yesterday morning, in several Iraqi provinces, at the same time, several demonstrations were launched by state employees, demanding an amendment to the salary scale before approving the budget. According to observers and financial experts, the issue of the salary scale, which is one of the important problems at the level of public employment in Iraq and the differences between state employees, cannot be resolved at a time when the budget is ready for a vote.    

According to what was announced by a number of deputies in the Iraqi parliament, as well as financial experts, that discussing and approving the new salary scale that has not yet been initiated takes a long time, which means that if it is linked to the budget, its approval will be suspended for another year, just as it was suspended from mid-2021 to mid-2023. Through the year 2022.    

 While the treasury of the Central Bank of Iraq is filled with more than 115 billion US dollars, most of it from oil sales, which until the end of March amounted to about 7 billion US dollars.  

The demonstrators, who erupted simult aneously in the governorates of Baghdad, Basra, Dhi Qar and other cities, demanded an adjustment to the salary scale in order to reduce the differences between employees.     Note that the number of employees and retirees in Iraq exceeds 6 million employees, on whom the state spends about $5 billion in salaries; This drains more than 70 percent of the state budget, which goes to what is operational, while the unemployment rate rises dramatically in the country, as well as the rate of inflation.    

And the dollar prices against the Iraqi dinar recorded a sharp rise during the past months, reaching 170 thousand dinars for every hundred US dollars, before the government took strict measures, including negotiations with the US “federal” that then led to a clear decrease in the exchange rates of the dollar, to approach its main rate set by the government. , which is 132 dinars per dollar, while its current price in the market stands at about 140 dinars per US dollar. link

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CandyKisses:  Obelisk Hour: The money of the theft of the century was distributed to influential politicians and media

Independent MP Alaa al-Haidari during a televised interview:

–Baghdad/Obelisk Event: Nour Zuhair's file is in the judiciary and he is the one concerned with it

– The money of the theft of the century was distributed to influential politicians and media
– The law on the recovery of the proceeds of corruption will allow the return of funds stolen since 2004 – Kurdistan region is "rebellious" against all government
decisions – Al-Sudani was following the file of telecommunications companies and he must continue
– Granting money to Kurdistan that exceeds other provinces is a door of corruption

– Al-Kazemi accused of "conspiring" with the Americans in the airport
incident – Authorities are required to seek trial of Al-Kadhimi
– Al-Kazemi must be brought to Iraq for trial – The Minister of Agriculture in the government of Al-Kazemi was a "mockery"
– The movements of the US ambassador may reach even popular
bands
– The US ambassador exceeded her diplomatic powers

Member of the Parliamentary Integrity Committee Ali Turki during a televised interview:

– Those involved in the theft of the century are still outside Iraq – There are judicial procedures being taken to recover money from Nour Zuhair – The government has an integrated program to punish the corrupt and recover the funds – Lifting the seizure of Nour Zuhair's funds
was done with an old book and has nothing to do with deals
– Al-Kazemi's period is similar to the era of Paul Bremer
– Al-Kazemi is a "burned paper" for America – Iraq will not be a backyard for America
and others

Mot: .......... Surprise!!!! ........

Mot: ..... Getting ready to BarbeeeQue!!!

Tuesday Morning Iraq Economic News Highlights 5-2-23

Tuesday Morning Iraq Economic News Highlights 5-2-23

Obelisk Clock: Money For Theft Of The Century Was Distributed To Influential Political And Media Figures

May 2, 2023  Baghdad/The Obelisk Al-Hadath: The Obelisk publishes the most prominent interactions of TV dialogues.

Independent MP Alaa Al-Haidari during a televised interview:

– Nour Zuhair’s file is with the judiciary and he is concerned with it

– The money of the theft of the century was distributed to influential politicians and the media

– The corruption proceeds recovery law will allow the return of money stolen since 2004

– The Kurdistan region is “rebellious” against all government decisions

– Al-Sudani was following the file of the communication companies and he must continue

– Granting money to Kurdistan that exceeds other provinces is a door to corruption

– Al-Kazemi is accused of “conspiring” with the Americans in the airport incident

– ​​the authorities are required to seek the trial of Al-Kazemi

– Al-Kazemi must be brought to Iraq for trial

– the Minister of Agriculture in Al-Kazemi’s government was a “mock”

– the moves of the American ambassador It may even reach the popular teams

- the American ambassador has exceeded her diplomatic powers

https://almasalah.com/wp-content/uploads/2022/10/%D9%87%D9%87.jpg

Member of the Parliamentary Integrity Committee, Ali Turki, during a televised interview:

Those involved in stealing the century are still outside Iraq

. There are judicial procedures being taken to recover money from Nour Zuhair . The government has an integrated program to punish the corrupt

and recover the money . A burnt paper" for America - Iraq will not be a backyard for America and others - Iraq is looking for equal international relations - The Kurdistan region deals with "rebellion" with the state - The region was the main carrier of the money of the theft of the century looted from banks –

The Kurdistan region is not proud of belonging to Iraq - Northern Iraq “deals with opportunism and exploits opportunities – recovering money is necessary to bridge the budget deficit.”

Former Advisor to the Parliamentary Agriculture and Marshes Committee, Adel Al-Mukhtar, during a televised interview:

- There is negligence on the part of the Iraqi side in negotiating with Turkey

- An agricultural plan must be drawn up according to what comes to Iraq in terms of water shares

- Agricultural policy in Iraq must be reviewed because negotiation over water shares takes a long time

- The situation is dangerous in Iraq as a result of the water crisis and the statements of the Minister of Water Resources are also dangerous regarding storage watery https://almasalah.com/archives/50848

New Taxes In The Tripartite Budget Raise Citizens' Concerns

2023.05.02 - Baghdad - Nas   The leaks of imposing new taxes, as a step towards maximizing the government’s treasury revenues to reduce the deficit rate, constitute a painful blow to the aspirations and hopes of citizens to improve their living standards, especially since they will not come from investment and commercial projects, but rather from the citizens’ pockets. 

The imposition of new taxes in the country's tripartite budget begins with (5) percent on regular fuel, (15) percent on improved fuel, and (1) percent on sales of black oil. 

  And the academic expert, Muhammad Dherb, said in a statement to the official newspaper, which he followed, “Nass” (May 2, 2023), that “taxes are added in each budget for different items, and this is a normal thing that happens in all countries of the world.” The money is collected and the services provided are not commensurate with the size of what the citizens pay, and this may affect the life of the citizen, his livelihood and his economic life. Section". 

Citizens told the same newspaper that they do not know where and to whom these taxes go. And if these taxes are in order to increase and strengthen the funds for the national treasury in order to provide services to citizens, then the citizen may deliberately accept this increase. 

  What arouses the anger of the street is the collection of a tax of twenty-five thousand dinars for a single traveler outside the country, and with a simple equation, a family consisting of six people pay one hundred and fifty thousand dinars, which is an amount that burdens the burden of travelers, especially students and patients, for treatment. 

 Other citizens objected to the imposition of a tax on filling fuel for personal cars and taxis, saying: "Our gasoline is bad, whether it is improved or regular, and it causes severe damage to the engines of our cars. Those who imported or manufactured it should be held accountable and compensate us for the damages."

 He adds, wondering, "When the price rises, the citizen is Who is affected, because the taxi driver or taxi driver will add the price difference to the exhausted citizen with low income, so how does this happen in a rich oil country like Iraq? 

  Others asked, "Road and bridge taxes have already been imposed. Have the roads been repaired and have the bridges been maintained?"    https://www.nasnews.com/view.php?cat=106633

Parliamentary Finance: The 2023 Budget Is Huge, And It Is Not Possible To Set A Time Limit For Its Approval

Time: 05/02/2023   {Economic: Al Furat News} The Parliamentary Finance Committee stated today, Tuesday, that it is not possible to set a timetable for approving the draft financial budget law for the year 2023, pointing out that the budget contains many details.

Youssef Al-Kalabi, a member of the Parliamentary Finance Committee, told {Euphrates News}: "It is not possible to set an exact time date for approving the budget law, and the committee is working as hard as possible, and the budget is huge and contains very many financial details."

He added, "The meetings of the Finance Committee continue until late at night, and what you are doing is a tremendous effort."

And the House of Representatives had received, in the middle of last month, the draft budget law for the current year and the years 2024 and 2025, by the Council of Ministers, and the value of each budget amounted to approximately 200 trillion dinars (151 billion dollars), which is the highest in the history of the country.

The year 2022 passed without approving a budget for the country, due to the political crisis, and the previous caretaker government had tried to send a budget, but it was prevented by a decision of the Federal Court.   From.. Raghad Dahham    LINK

Al-Salami: The Deficit Rate In The Budget Violates The Financial Management Law

Today    Al-Maalouma / Baghdad.. Independent MP Hadi Al-Salami confirmed, on Tuesday, that the deficit percentage in the 2023 budget violates the financial management law, noting that “the 2021 budget obligated the government to disclose the debts owed by the Kurdistan Region.” Al-Salami said in an interview with Al-Maalouma agency

,The budget contains many notes, as the deficit rate reached 18 percent, and this is contrary to the Financial Management Law.

He added that "the loan ratio reaches 12 trillion and the interest rate is 6 trillion, and there are no detailed schedules in this regard, and he pointed out that" there are observations about financial allocations for the governorates that are not commensurate with the size of the projects

. Representatives,” stressing that its legislation without making amendments will cause great embarrassment to the government.

A member of the Oil and Energy Committee, Basem Al-Gharibawi, revealed earlier that there is a parliamentary division regarding passing the budget for one year or for several years. LINK

A Crucial Meeting Between Parliamentary Finance And Heads Of Blocs On Passing The Budget

Today    Information / Baghdad ..A parliamentary source stated today, Tuesday, that a crucial meeting was held between the parliamentary finance and the heads of the blocs on passing the draft general budget law.

The source said, in an interview with the information agency, that "the Finance Committee, headed by Representative Atwan Al-Atwani and in the presence of its members, met with the heads of parliamentary committees to discuss the draft federal budget law."

He pointed out that "the aim of the meeting is to put the final touches on the general budget law for the current year 2023 for the purpose of completing its reading inside the dome of Parliament."

The deficit rate amounted to 63.275 trillion dinars, with the adoption of a price of $ 70 per barrel of oil, given that more than 95 percent of budget revenues depend on oil sales. LINK

Nine Days Until The "Final Settlement" Of The Budget Discussions

Iraq  2023/05/02  Muhannad Abdel Wahhab   The House of Representatives is waiting less than nine days for the resolution of the budget discussions. This came at the push of Al-Sudani for the State Administration Coalition, which has a comfortable majority in Parliament, and whose statement did not refer to the widening volume of popular demands to launch and include grants for journalists and the PMF differences, and even to amend the salary scale for all state employees. in the budget.

The coalition said, in a statement after a meeting attended by Prime Minister Muhammad al-Sudani and Speaker of Parliament Muhammad al-Halbousi, that it held its regular meeting in Baghdad, hosted by Khamis al-Khanjar, indicating that “the meeting was attended by Prime Minister Muhammad Shia al-Sudani, Parliament Speaker Muhammad al-Halbousi and all leaders of the coalition.” "Discussing the government and parliamentary files, service, economic, security and political issues."

In the statement, the coalition stressed “the importance of approving the federal budget and launching government projects and programmes,” noting that “the coalition announced May 10 as the last day to resolve discussions on budget items.”

According to the statement, "the participants discussed the terms of the political agreement and exerted maximum efforts to implement the government program and the ministerial platform," stressing "their commitment to the date of the local elections at the end of this year."

Meanwhile, the head of the Human Rights Bloc, Hussein Al-Amiri, demanded, in an interview with Al-Sabah, to “secure the grant for journalists amounting to (one million dinars) and include it in the budget, considering journalists the fourth authority and the sacrificing category, and it made many sacrifices, including the wounded and the martyrs,” noting the importance of “including it In the budget for the year 2023 and other budgets as an entitlement to them.

On unifying the salary scale of employees, he indicated that the bloc “also called for the inclusion of amendments within the budget to achieve justice and equality for all state employees,” noting that “among the bloc’s demands is the inclusion of the popular crowd salary differences,” noting that “in the coming days, these rights will become clear during discussions and discussions.” Current in the Finance and Planning Committees and the Security and Defense Committee ».

Edited by: Ali Abdel-Khalek   https://alsabaah.iq/76068-.html

Iraqi News Highlights Monday Afternoon 5-1-23

Iraqi News Highlights Monday Afternoon 5-1-23

Tlm724 Administrator Bondlady’s Corner

Masrour Barzani Receives The Minister Of Planning To Discuss The Federal Budget Law And Solve Problems Between The Region And The Center

Monday 01 May 2023 13:48 | political Number of readings: 133   Baghdad / NINA / - The President of the Kurdistan Regional Government, Masrour Barzani, received today, Monday, the Deputy Prime Minister and Minister of Planning in the federal government, Muhammad Ali Tamim.

According to a statement by the regional government, the meeting witnessed: They discussed the general situation in Iraq, and the need to approve the federal general budget law in the parliament as soon as possible, hoping that it will be the beginning of resolving problems between the Kurdistan region and the federal government under the umbrella of the constitution, in a way that guarantees the constitutional rights and entitlements of the citizens of Kurdistan.

The importance of implementing all agreements included in the ministerial curriculum of the federal government was emphasized./  https://ninanews.com/Website/News/Details?key=1050461

The Rise In The Exchange Rate Of The Dollar On The Local Stock Exchange

Monday 01 May 2023 10:47 | Economical Number of readings: 414  Baghdad / NINA / - Today, Monday, the exchange rates of the dollar against the dinar recorded an increase in the local markets.

And the selling price recorded 143,000 dinars per 100 dollars, while the purchase price reached 142,000 dinars per 100 dollars, in the capital, Baghdad. / https://ninanews.com/Website/News/Details?key=1050417

Low Global Oil Prices

Energy  Economy News – Baghdad  Oil prices fell on Monday, amid fears that the US Federal Reserve may raise interest rates, which could slow growth and hurt fuel demand, and concerns about weaker Chinese manufacturing data combined to eradicate earlier gains.

Brent crude futures for July delivery were down 63 cents, or 0.8%, at $79.70 a barrel at 04:13 GMT.

US West Texas Intermediate crude lost 67 cents, also down 0.8%, to trade at $76.11.

https://economy-news.net/content.php?id=33936

 The Central Bank Of Iraq Issues A Clarification Regarding The Loans Of Its Various Initiatives

May 01, 2023      In continuation of the developmental role of the Central Bank of Iraq and its contribution to promoting economic growth, and achieving various monetary policy goals, especially the stability of the general level of prices, this bank issued a clarification regarding its various initiatives,

    Emphasizing the continuation of financing small and medium enterprises within the initiative of (4) trillion dinars according to the remaining allocation and an amount not exceeding (50) million dinars for each loan, and for a maximum period of (5) years,

provided that the benefits, commissions and the rest of the same procedures are approved according to the unified controls of this initiative.

He explained that the initiative to finance the purchase of electric power generation units from renewable sources is also continuing, as part of an initiative to allocate an amount of (1) trillion dinars.

    Stressing that continuing to provide financing to the Real Estate Bank and the Iraqi Housing Fund to grant housing loans to citizens and according to the previously allocated amounts, and

this bank has not stopped providing its initiatives to the aforementioned parties within the amounts allocated since the launch of the initiatives, noting that

the value of the initiative has increased since 2015 until now, and reached More than (18) trillion Iraqi dinars.

    He called this bank, the real estate bank owned by the Federal Ministry of Finance, and the Iraqi Housing Fund of the Ministry of Housing and Construction to increase their capital, to maximize their financial resources and increase their lending capacity.

  Central Bank of Iraq   information Office  1 - May – 2023  https://cbi.iq/news/view/2317

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

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Awake-in-3D "What Really Happened With First Republic Bank" 5-1-2023

Awake-in-3D

What Really Happened with First Republic Bank

Big Banksters of the world rejoice…

- The FDIC (funded by everyone’s bank deposits nationwide) took over FRB this past weekend and conducted an auction with Big Banks to find a buyer.

- JPMorgan stepped in and offered to buy First Republic, but only if the US Government guaranteed to backstop any losses.

- The FDIC agreed.

- JPM bought FRB, getting all the “healthy” assets and deposits for pennies on the dollar and the FDIC (meaning everyone with bank deposits nationwide) kept the toxic assets.

- The toxic assets consist of “interest-only” mortgages held by ultra-wealthy homeowners.

- The FDIC will likely bail out the wealthy homeowners leaving all of us to foot the bill.

You can’t make this stuff up! What a wonderful financial system we have…

If JPM-Chase wanted to buy First Republic in early February this year, they would’ve had to pay over $140 per share. They likely paid less than $5.00 per share today, without any of FRB’s toxic assets - thanks to the FDIC.

Jamie Diamond (JPM CEO) is laughing all the way to his bank.

I wonder which bank is next?

Source: @GCR_RealTimeNews

Many Blessings,

Ai3D

Goldilocks "Banking and Crypto News" Monday 5-1-2023

 Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted comments and links this morning:

Regulators are seizing First Republic and JP Morgan is going to acquire all of the bank deposits and buy them out.

Last year, we talked about this happening in the future. Banks would be consolidating towards the end of the old financial system.

Many of the big banks are well prepared to move forward into the new age of technology.

JP Morgan was given the task of heading up the crypto space and moving the banking system into Web 3.

As we integrate our banking system into the new digital asset-based trading decentralized system, we are going to witness banks who have prepared themselves for this transformation move forward and those who have not be absorbed into those who have.

© Goldilocks

https://www.reuters.com/business/finance/california-financial-regulator-takes-possession-first-republic-bank-2023-05-01/#:~:text=May%201%20(Reuters)%20%2D%20JPMorgan,to%20fail%20in%20two%20months.

"IOTA, Ripple and Stellar to conquer trillion-$-market with SWIFT under ISO 20022 reglation – Report"

Iota, Ripple, Stellar, and the Swift System are currently merging together to work as one.

The merging of these new and traditional banking systems will allow cross-border payments to move more efficiently and much faster.

Ripple is the banking coin that will move money. Stellar will move money through a digital ledger transmission system recording on both sides of a trade the transaction. Yet, most people know so little about Iota.

IOTA is a smart contract platform designed to move payment transactions between digital devices connected to the internet. Iota will be responsible to ensure that both sides of a trade have adequate funds to secure the transaction and fulfill it.

Other changes may be taking place going forward, but this is how we will begin our journey into the new digital banking system taking what we have learned from the old financial system to move forward into the new one.

© Goldilocks

https://www.crypto-news-flash.com/iota-ripple-and-stellar-to-conquer-trillion-market-with-swift-under-iso-20022-reglation-report/

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Stablecoin regulation is moving forward, but it is moving slower than was expected at the first of the year.

"The United States House of Financial Services Committee (HFSC) and the House Agricultural Committee (HAC) are putting together legislation that would supervise the crypto sector."

The US Government is expected to have legislation in place by the end of June.

This just so happens to be the end date for the revaluation of everything.

June 30th, just so happens to be the end of Libor contracts and the complete movement into SOFR lending contracts.

A pause on interest rate hikes is not expected in May, but it is expected in June. This will allow a shifting in price corrections on the market and in the banking system that will allow us to reset our economy.

© Goldilocks

https://www.iflr.com/article/2binv9xoxvoip0umsbtvl/libor-transition-the-final-leg-of-the-marathon

https://www.thecoinrepublic.com/2023/04/29/the-united-states-will-have-a-crypto-bill-in-2-months-mchenry/

https://www.assetservicingtimes.com/assetservicesnews/industryarticle.php?article_id=14290&navigationaction=industrynews&newssection=industry

https://www.forbes.com/sites/digital-assets/2023/04/30/stablecoin-regulation-is-slowly-moving-forward-what-investors-need-to-know/

https://www.banklesstimes.com/news/2023/04/29/us-govt-will-have-crypto-legislation-by-june/

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