Dinar Recaps 20 5/9/23 Dinar Recaps 20 5/9/23

KTFA Members "News and Views" Tuesday 5-9-2023

KTFA:

Clare: Al-Sudani surprises the ministries with 3 work shifts to complete the projects

5/08/2023

Today, Monday, the Prime Minister, Muhammad Shia'a Al-Sudani directed all ministries and entities not associated with a ministry to work in 3 shifts, in order to speed up work on projects.

A document obtained by Shafaq News agency addressed to all ministries and entities not associated with a ministry and signed by the Director of the Office of the Prime Minister, Ali Razouqi Al-Lami, stated that "Based on the approval of the Prime Minister and for the purpose of accelerating work on all projects to take what is necessary by instructing that work be done in three shifts to ensure speed Completion of projects and increase the employment of manpower. LINK

KTFA:

Clare: Al-Sudani surprises the ministries with 3 work shifts to complete the projects

5/08/2023

Today, Monday, the Prime Minister, Muhammad Shia'a Al-Sudani directed all ministries and entities not associated with a ministry to work in 3 shifts, in order to speed up work on projects.

Wanda1home: 3 shifts, Wow Sudani is serious!

SweetMissMagnolia: ….about time. IMO

Zeeman: 3 shifts excellent. imagine if the goi worked half of that to finish the budget.

Clare: The Iraqi Council of Representatives extends its legislative term until the budget law is approved

5/09/2023

The Iraqi Parliament decided on Tuesday to extend the current legislative term.

A brief statement by the Parliament's Media Department, received by Shafaq News Agency, stated; The extension is until the vote on the Federal Budget Law 2023. LINK

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Clare: With the participation of Iraq.. 14 notes on the discussion table of the Arab financial markets

5/08/2023

Baghdad

The Federation of Arab Capital Markets (AFCM) held its annual meeting on Monday, May 8, 2023 in Muscat, in the presence of the authorized managers of the Arab stock markets, clearing companies, and member brokerage firms.

Among the participants was the Iraq Stock Exchange, represented by the Executive Director, and Al Rabie Brokerage Company, represented by its Director.

The attendees discussed 14 memorandums, including the federation's annual report 2022 and the transfer of the federation's presidency from the Bahrain Stock Exchange to the Muscat Stock Exchange for the year 2023. LINK

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Clare: Discontent with "procrastination".. Iraqi employees renew their demonstrations to adjust the salary scale (photos)

5/09/2023

Dozens of employees from various Iraqi ministries demonstrated for the second time in less than a month, today, Tuesday, in Tahrir Square in central Baghdad, to demand an adjustment to the salary scale and an increase in their salaries.

One of the demonstrators, Muhammad Yunus, told Shafaq News agency, "We demonstrated today in Tahrir Square in order to implement our demands, which is to amend the salary scale to achieve justice among all employees," noting that "recently, the employees heard that the government has no intention of amending the salary scale and increasing our salaries." ".

He added, "We will continue with the demonstrations every time unless the government and parliament respond to our demands, which are among the most basic rights of the employee," stressing that "there is a huge discrepancy between what the employee receives from one ministry to another, despite having the same job degree."

Another employee, Adel Rashid, told Shafaq News agency, "This demonstration expresses the employees' discontent with the government's procrastination and procrastination of our demands, which is to achieve and approve a new salary scale that achieves justice for all employees."

Rashid called for "reducing the salaries of the three presidencies and special grades that burdened the general budget," adding that "reducing these salaries and adjusting the salary scale in a way that achieves justice for all will reduce the burden on the budget, most of which goes as salaries to state officials." LINK

Clare: The Kurdistan Region Finance announces that it has received 200 billion dinars from Baghdad

5/09/2023

The Ministry of Finance in the Kurdistan Regional Government announced, on Tuesday, that the federal government has deposited a sum of 200 billion dinars to finance the salaries of employees and workers in the public sector in the region.

The ministry said in a statement received by Shafaq News agency, "In implementation of the decision of the Federal Government Council of Ministers, 200 billion dinars have been transferred from Baghdad to the ministry's bank account." LINK

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Clare: Al-Sudanese issues an "immediate" directive to the units charged with protecting the demonstrators

5/09/2023

Today, Tuesday, the Prime Minister, Muhammad Shia'a Al-Sudani, issued a directive not to carry and use live weapons by the units assigned to protect the demonstrators.

A government source told (Baghdad Today) that, "Prime Minister Muhammad Shia'a al-Sudani directed not to carry and use any kind of live weapon by the units charged with protecting the demonstrators."

"Al-Sudanese directed good cooperation with the demonstrators," he added.

Earlier in the day, our correspondent reported that the demonstrators began to flock to Tahrir Square in the center of the capital, Baghdad, to demand the approval of the salary scale.

The (Baghdad Today) correspondent said, "Hundreds of demonstrators began to flock to Tahrir Square in the center of the capital, Baghdad, to demand the approval of the salary scale."

This morning, a security source reported, with an extensive deployment of security forces in Tahrir Square and the approaches to Al-Jumhuriya Bridge in the center of the capital, Baghdad.

The source told (Baghdad Today) that, “in anticipation of any demonstration, the security intelligence of Karkh and Rusafa directed that the working hours be 100% for the days of Tuesday and Wednesday, while preventing the granting of leaving during them.” LINK

Turk182: Here's a Novel Idea - How Bout Someone issues an "immediate" directive to the ones charged approving the budget and/or releasing the new National Currency to the Citizens of Iraq? Willing to bet money that puts an end to any/all of these Demonstrations

DINARRECAPS8 5/9/23 DINARRECAPS8 5/9/23

Tuesday Morning Iraq Economic News Highlights 5-9-23

An Economist Explains The Reasons For The Rise In The Dollar: It Is Not Economic

2023-05-09 Shafaq News/ The Iraqi economist, Dergham Muhammad Ali, said on Tuesday that the reasons for the rise in the exchange rates of the US dollar in the local market are "not economic".

Ali told Shafaq News agency, "There are currently no economic reasons for the fluctuation of the dollar's exchange rate," noting that "the ones responsible for it are the intermediary banks, most of which are linked to political parties."

Tuesday Morning Iraq Economic News Highlights 5-9-23

An Economist Explains The Reasons For The Rise In The Dollar: It Is Not Economic

2023-05-09 Shafaq News/ The Iraqi economist, Dergham Muhammad Ali, said on Tuesday that the reasons for the rise in the exchange rates of the US dollar in the local market are "not economic".

He continued, "Therefore, the stability of the exchange rate depends on the agreement of the political blocs with the government, which makes the price stabilize whenever there is political stability," explaining, "If they want the price to stabilize near the official price, the intermediate link must be removed by offering the dollar through the ATM." (ATM) under the supervision of the Central Bank, and with a maximum daily or weekly withdrawal limit, to prevent the withdrawal of large amounts and market manipulation.

The automated teller machine (: Automated teller machine, abbreviated ATM) is an electronic device that provides customers of financial institutions with conducting financial transactions in public places as an alternative to the need for an employee, and among the financial operations that are allowed to be carried out through an automated teller machine is access to bank accounts, cash withdrawals and knowledge of balances accounts, and deposit cash too.

Dollar prices rose in the parallel market during these days to reach 145,000 dinars compared to 100 dollars, despite the Central Bank feeding foreign transfers fully in addition to meeting the cash demand.

LINK

A Slight Decline In Dollar Prices In Baghdad And An Increase In Erbil

2023-05-09 Shafaq News/ The exchange rates of the US dollar against the Iraqi dinar decreased slightly today, Tuesday, in the main stock exchange in the capital, Baghdad, while it increased in Erbil, the capital of Kurdistan Region.

Shafaq News agency reporter said that the central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded 144,750 Iraqi dinars for 100 US dollars this morning.

On Monday morning, the prices were 144,800 dinars for 100 dollars.

Our correspondent indicated that the buying and selling prices were stable in the exchange shops in the local markets in Baghdad, where the selling price reached 145,750 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 143,750 Iraqi dinars per 100 US dollars.

As for Erbil, the capital of the Kurdistan Region, the price of the dollar recorded an increase, as the selling price reached 145,300 dinars against the dollar, and the purchase price was 145,200 dinars against 100 dollars. LINK

Parliament Is Looking To Reduce The Budget Deficit And Increase Government Income

The first 2023/05/09 Haider Al-Jaber First Deputy Speaker of Parliament Mohsen Al-Mandalawi called for the need to expedite the completion of the discussion and maturation of the draft general budget law, indicating that the Iraqi people of all sects are waiting for its approval, and will not excuse anyone in the event of its delay.

This comes at a time when the Parliament’s Finance Committee continues to host ministers to discuss the budgets of their ministries. Parliamentary committees are looking for ways to reduce the budget deficit by reducing spending and increasing government income.

Al-Mandalawi chaired, at midnight yesterday, Sunday, a meeting of the Parliamentary Finance Committee, during which it hosted the Minister of Finance, Taif Sami, to discuss the draft federal budget law. He is waiting for the approval of the budget because it is directly related to his life, and he will not excuse anyone if it is delayed.

Al-Mandalawi called for "determining the appropriate measures to overcome the current obstacles and challenges to expedite the approval of the budget," stressing "the need to guarantee the financial dues of those with special grades for appointment, and to increase the share of the governorates to complete the lagging and strategic projects."

During the meeting, "the ministry's allocations for previous years were discussed compared to the current year, and the reasons for the increase in spending chapters such as grants, subsidies, and other expenditures, and social care," pointing to "the necessity of maximizing revenues such as taxes, real estate, collection service, and others."

For her part, the Minister of Finance reviewed the "spending chapters of the ministry," noting that "the volume of amounts within the chapters on indebtedness, interest, the Olympic Committee, and other chapters are not in favor of the Ministry of Finance," revealing that "a committee has been formed within the ministry to calculate the financial costs."

Interventions included, during the meeting, which lasted late Sunday night, on how to pay the foreign debt owed by Iraq and the ministry's procedures for replenishing the state's public treasury, in addition to estimating oil and non-oil revenues and the volume of revenues, accounts and the issue of free lecturers and contracts after

2/10/2019, the mechanism for including their allocations, appointing first graduates and holders of higher degrees, and UNHCR contracts, in addition to some contracts for which funds were not allocated.

The draft budget law suffers from a deficit of 30%, which constitutes the most important obstacle facing the adoption of the law, in addition to the fluctuation of oil prices, and the demand for a fair salary scale.

A member of the Economics Committee, Kazem Al-Fayyad, put forward several proposals to increase government income, criticizing the wrong collection policy that the Iraqi state is pursuing.

Al-Fayyad told Al-Sabah: “It is in the public interest to reduce the budget deficit by submitting proposals to reduce the deficit, and we have put forward many proposals in the House of Representatives and presented them to the Prime Minister.” He added that “the first aspect is the development and support of the agricultural sector, in addition to having Ministries collect money but demand budget allocations.

He continued, "Many government institutions have shops, garages, markets, and (Allawi) vegetables, in addition to providing administrative services such as vacations and taxes, and these imports do not enter the state treasury." He stressed that "oil imports in the budget amounted to 117 trillion dinars, while it amounted to Non-oil, only 20 trillion dinars,” warning of “a defect in the final accounts of each ministry.” https://alsabaah.iq/76542-.html

A Government Advisor Who Reduces The Risks Of Budget Deficit

Economical 2023/05/09 Haider Fleeh Al-Rubaie The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, underestimated the potential risks of a “hypothetical fiscal deficit” in the public budget, despite it exceeding the barrier of 64 trillion dinars, attributing this to the continuation of oil sales rates above the calculated price per barrel in the budget, which amounts to 70 dollars, and approaching the middle of the year. Finance, stressing the need for high discipline in spending, and he considered that financial rationalization to be counted among the indicators of performance evaluation and financial governance.

Despite the assurances given by the government advisor about the effects of the budget deficit and the economy in general, economists believe the opposite, as a number of specialists expressed their fear that the deficit would reach nearly 20% of the gross domestic product, stressing that this percentage is a violation of the Financial Management Law. No. (6) for the year 2019 as amended.

Economic specialists rely on the steps they described as "important" in implementing the government's approach, especially moving the wheels of industry and agriculture, stressing that this approach can reduce dependence on oil revenues to support budgets, and mitigate the risks of deficit in the event of a decline in global oil prices.

And Saleh based his reassurances on "the arrival of the fifth month of the fiscal year, and the average sales of Iraqi oil are still higher than the price specified in the draft federal budget law for the current year 2023 and subsequent years, which amounts to $70 per barrel of exported oil."

Saleh indicated during his interview with "Al-Sabah" that "according to these data, the expected financial risks, if they occur, will have a less severe impact on the hypothetical deficit estimates for the average fiscal year 2023, and in the event of price fluctuations of about $70 per barrel of crude oil, or even Less than that price, during the second half of the current fiscal year, at which point the budget resorts to financing parts of that deficit by internal borrowing from the market banking".

Saleh believes that among the measures by which it is possible to confront the fiscal deficit in public budgets is the continuation of strictness and high discipline in enhancing non-oil revenues, and considering collection from non-oil revenue vessels (without delay) a first priority in evaluating the work of the state’s financial joints, as well as The importance of scrutinizing the exchange from the approved allocations in the exchange chapters and imposing high discipline on spending, specifically the ministries and spending agencies or exchange units, which should be careful in spending, and this is considered an important financial rationalization that is counted within the indicators of performance evaluation and high-quality financial governance.

Contrary to the opinion of the government advisor, the researcher in economic affairs, Bassam Raad, pointed out during his interview with "Al-Sabah" that "the enormity of the planned deficit in the 2023 budget is a complex and complex phenomenon, and there is an interconnected network of factors that contributed to this planned deficit, and at the forefront of this Factors Classify the Iraqi economy as a service, distribution, poor production, in addition to the changes that occurred as a result of the growth of expenditures the public".

The seriousness of this deficit, according to researcher Raad, lies in the financing sources for bridging the deficit gap, which were identified through internal and external borrowing, stressing that this step could burden the budgets of the coming years by paying the installments and interest due for these loans, indicating that the ways to reduce the effects of this The deficit calls for searching for other sources of revenue to meet the growing expenditures and reduce the deficit gap, in addition to rationalizing spending and increasing the productive efficiency of public spending.

The spokesman pointed out that "the proportion of the planned deficit in the draft budget for the year 2023 amounts to (20%) of the gross domestic product, which is contrary to the Financial Management Law No. (6) of 2019 as amended (Article 4, Paragraph / Fourth), which stipulates that" it is not permissible to The planned deficit in the planning budget exceeds

(3%) of the gross domestic product," according to the economic researcher, who also indicated that "the deficit in the general budget is one of the factors that determine Iraq's economic capabilities in the credit rating. for the country.” https://alsabaah.iq/76517-.html

What About The Modification? Parliamentary Finance Reveals The Stage Reached By The Budget

Posted On2023-05-08 By Sotaliraq Today, Monday, the Parliamentary Finance Committee revealed the stage it has reached with regard to the budget and the date for starting the amendments.

Committee member Jamal Cougar said, "The House of Representatives has not yet reached the stage of amending the budget law by making transfers in the exchange chapters and other amendments."

And Cougar indicated that “the House of Representatives is still discussing and studying the budget law with government agencies, and for this it needs more time to conduct a comprehensive study after the meetings with ministers and governors are over, then there will be amendments according to what has been studied and discussed,” noting that “passing the budget Perhaps it will be the end of this month, and we need more time.” LINK

Parliamentary Finance Denies Returning The Budget To The Government: We Will Present It To A Vote This Month

Posted On2023-05-09 By Sotaliraq Baghdad / Firas Adnan The Parliamentary Finance Committee denied its intention to return the budget to the government, confirming the vote on it during the current month, pointing out that the drop in oil prices raises fears of an increase in the deficit rates and its transformation from planned to real, stressing that the provinces have spent only 10% of the allocations for the development of regions contained in Emergency Support for Food Security and Development Law No. (2) of 2022, which was approved by Parliament last year.

The day before yesterday, the committee hosted the Minister of Finance, Taif Sami, for the second time to discuss the ministry's budget, and the possibility of making transfers of amounts to ensure reducing spending and increasing revenues that supply the state treasury, as well as developing an appropriate strategy on the ministry's mechanism with regard to spending units.

Some social media circulated the return of political differences over the budget law, which was the reason for delaying its submission to a vote.

However, member of the Finance Committee, Representative Jamal Cougar, said, “The talk that some people are circulating about the existence of obstacles to presenting the budget law to a vote is an incorrect claim.”

And Cougar continued, “The second reading of the government project includes a number of stages, the first of which is listening to the opinions of deputies, and this was done in three consecutive sessions that were open.”

And he pointed out, “The second stage is by holding hosting sessions with ministers, governors, and officials of public spending units, and we are continuing to do so according to an intensive schedule that starts daily from ten in the morning until seven in the evening, and then starts at nine in the evening until twelve after midnight.”

And Cougar stated, “The third stage begins with the formulation of the budget, and we have divided the committee into two teams, the first conducting hosting and studying schedules to conduct transfers, and the second to reformulate the materials sent by the government within the draft budget.”

He denied, “There are obstacles or disagreements, but there are continuous and extensive discussions, and we hope to complete them as soon as possible,” stressing that “Parliament has no intention of returning the law to the government in order to draft it in accordance with the proposed amendments.”

Cougar explained, “The budget will be approved definitively during this month, but it is not possible to set a fixed date for presenting the project to a vote or ending discussions on its texts within the Finance Committee.”

And he indicated, “The session of the three presidencies with the political leaders of the State Administration coalition, held last week, had ended with setting the tenth of this month (the day after tomorrow) to complete the discussions on the budget.

Cougar added, "This date is very close and cannot be adhered to, because the current budget differs from its predecessors in three aspects."

And he continues, “The first aspect is that this budget is the highest that reached the House of Representatives after 2003, with an amount of up to 200 trillion dinars.”

And Cougar goes on, that the second aspect is the large deficit in the law estimated at more than 64 trillion dinars, and fears that this deficit will turn from planned to real under the weight of the drop in oil prices, as the barrel reached 72 dollars.

And he added, “The draft budget came at a price of $70 per barrel, and we need a difference between 7 and 10 dollars.”

And Cougar stated, “The Ministry of Oil informed us that it suggested that the price of a barrel be $65,” and he believed that “this large deficit, with the decrease in the price of a barrel of oil, will burden the budget and put it in front of a great responsibility.”

And he continues, “The last budget approved by the House of Representatives was for the fiscal year 2021, with amounts of 164 trillion dinars, and the discussion on it continued for 45 days, while we are facing a budget higher than that, and therefore it needs more time to complete the discussions and final formulation.”

And Cougar went on, that “the third new aspect of the budget is its status for three years, and this means that it will be exposed to any error or unfairness that will continue throughout the period allotted to it.”

For his part, another committee member, Khalil Al-Dosky, stated that “the Finance Committee has held meetings with most ministries, and it is continuing this activity in order to prepare final formulations that include holding discussions to achieve fairness in the distribution of allocations.”

Al-Dosky added, “Public spending units, whether federal or in the regions and governorates, cannot be convinced of their financial share in the budget and demand an increase in it.”

And he pointed out, “The meetings showed that everyone is calling for an increase in his allocations, but the Finance Committee looks at the supreme interest of the country, and evaluates the volume of revenues and the effectiveness of expenditures for each ministry and governorate so that we distribute the sums according to the standards of justice and actual need.”

And Al-Dosky stated, “The representatives fear the delay in implementing the projects, and according to the data of the Ministry of Planning, the sums for the development of the regions mentioned in the Emergency Support for Food Security and Development Law were spent only 10% of them.”

However, he stated that “the Finance Committee will not stop supporting projects for the provinces and the development of the regions, on the contrary, most or all of the members with deduct sums from the current budgets towards the development of the regions.”

And Al-Dosky concluded, that “determining the criteria for distributing the amounts, whether retroactively or from the date of approving the budget, will be subject to discussions within the Finance Committee before voting on the law, taking into account new issues, most notably the oil price variables.”

It is noteworthy that the House of Representatives had ended discussions on the budget and referred the project to the Finance Committee in order to put the final wordings in coordination with the government before submitting it to a vote. LINK

Dinar Recaps 20 5/9/23 Dinar Recaps 20 5/9/23

"Tidbits From TNT" Tuesday Morning 5-9-2023

TNT:

Harambe: Vietnam Reserves Forecast to Climb to $95 Billion … Dong Strength | Bloomberg (5/9/23)

Vietnam’s foreign-exchange reserves excluding gold are forecast to rebound to $95 billion by the end of the year as the central bank rebuilds its stockpile, Moody’s Investor Service said.

“The recent appreciation of the dong, which reflects the improved external position, would give the central bank space to rebuild the FX buffers that were spent down during the US dollar’s rally last year,” said Nishad Majumdar, a sovereign analyst in Singapore. Reserves stood at $88.3 billion in January, according to the International Monetary Fund.

TNT:

Harambe: Vietnam Reserves Forecast to Climb to $95 Billion … Dong Strength | Bloomberg (5/9/23)

Vietnam’s foreign-exchange reserves excluding gold are forecast to rebound to $95 billion by the end of the year as the central bank rebuilds its stockpile, Moody’s Investor Service said.

Vietnam‘s central bank bought about $6 billion of US dollars this year to boost its reserves, according to Nguyen Quoc Hung, general secretary of Vietnam’s Bank Association. The data was given by central bank Governor Nguyen Thi Hong in a meeting last week, he said Tuesday.

“Being able to buy that $6 billion to add into the forex reserves, the central bank will have more capacity to ensure its dollar supply to banks for import demand,” Hung said. This is very significant for the economy,” he said.

The recovery in tourism and steady foreign direct investment inflows will help boost the nation’s reserves even as exports weaken, Majumdar said in an emailed response to questions Tuesday.

Dong Strength

The dong has advanced 6% in the past six months, joining a rally in Asian peers, as the US dollar’s strength faded.

“While we don’t forecast the exchange rate, we expect the authorities to prioritize exchange rate stability as a means to stabilize inflation and create certainty for inbound investors,” Majumdar said.

A stronger dong reduces the local-currency value of the government’s external debt, which still accounts for about a third of overall government borrowing, he said.

It will also likely mitigate the impact of higher import and manufacturing input costs into domestic inflation, giving the authorities further space to pursue a more accommodative monetary policy, he said.

https://www.bloomberg.com/news/articles/2023-05-09/vietnam-reserves-forecast-to-climb-to-95-billion-moody-s-says

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Tishwash: Baghdad.. Demonstrators began flowing to Tahrir Square to demand approval of the salary scale (photos)

Today, Tuesday, our correspondent reported that the demonstrators began to flock to Tahrir Square in the center of the capital, Baghdad, to demand the approval of the salary scale.

The (Baghdad Today) correspondent said, "Hundreds of demonstrators began to flock to Tahrir Square in the center of the capital, Baghdad, to demand the approval of the salary scale."

Earlier in the day, the Higher Coordinating Committee for Iraqi Employees announced the postponement of the (salary scale) demonstrations, scheduled for today, until further notice.

A statement by the committee, received by (Baghdad Today), stated that "it was decided to postpone the demonstrations (the salary scale) scheduled for today, Tuesday," indicating that "the government agencies began to comply with the demands of the revolution and announced unconditional approval and made promises to approve the salary scale within a maximum period of the end of next June."

And this morning, a security source reported, with an extensive deployment of security forces in Tahrir Square and the approaches to Al-Jumhuriya Bridge in the center of the capital, Baghdad.

The source told (Baghdad Today) that, "in anticipation of any demonstration, the security intelligence of Karkh and Rusafa directed that the working hours be 100% for the days of Tuesday and Wednesday, while preventing the granting of leave during them." link

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CandyKisses: Financial Inclusion Week in Iraq concludes

Economy News _ Baghdad

Under the supervision of the Central Bank and the Association of Private Banks, the activities of the Financial Inclusion Week, which was held throughout Iraq, were concluded, with great participation by banks, electronic payment companies and finance companies.

The Financial Inclusion Week is held in all Arab countries in coordination with the Arab Monetary Fund, and aims to raise awareness of the importance of the banking sector, and includes various events such as conferences, workshops, seminars, awareness and education campaigns, and financial and governmental institutions, non-governmental organizations and members of civil society participate in these events.

Financial inclusion is the provision of financial services to all without exception, including the poor and marginalized, including bank accounts, insurance, loans and other services. Financial inclusion aims to promote economic development and improve the economic climate of the country.

During these events, which were held in the governorates of Baghdad, Basra, Erbil, Sulaymaniyah, Kirkuk, Maysan, Babylon and Nineveh, and targeted commercial centers, businessmen, students, entrepreneurs and others, citizens were able to open bank accounts and benefit from the services provided by banks with regard to electronic cards, loans, remittances, and others.

The Executive Director of the Association of Private Banks, Ali Tariq, said that the Financial Inclusion Week is an annual event held in many countries around the world, and has many positive effects on societies, including promoting economic and social development, improving the standard of living for individuals and communities, increasing employment opportunities and improving the economic situation of families and poor groups.

He pointed out that enhancing investment and economic development of countries, improving financial governance and contributing to reducing financial corruption, improving access to financial services and insurance for the most needy groups, such as poor and marginalized groups, women and youth, and enhancing financial and economic stability for individuals and communities.

He pointed out that it can be said that financial inclusion contributes significantly to improving the economic and social situation of individuals and societies.

For his part, the banking advisor of the Iraqi Private Banks Association, Samir Al-Nasiri, said that in light of the program prepared by the Exchange Association, the activities of the Arab

Financial Inclusion Week were launched in conjunction with its launch in all Arab countries, including Iraq, pointing out that the Iraqi banking sector has achieved a wide spread at the level of opening bank accounts and spreading in banking services.

He added that the celebration of financial inclusion included the establishment of festivals and events to spread banking culture, and during this year the financial inclusion strategy will be launched, which began its features since 2016 and achieved a lot of them at the level of achievements in the subject of spreading banking culture, as the World Bank reports that Iraq has achieved a leap in financial inclusion from 11% to 33.5%, which is a good percentage compared to regional countries that practice the same activity, we hope that these events will continue with great success according to the program. prepared for it.

The Dean of the College of Business Economics at Al-Nahrain University, Dr. Nagham Hassan Nehme, said that the university used to hold this event annually because of the existence of partnership relations with the Association of Iraqi Private Banks and the Central Bank of Iraq, and this day is considered special because of its great significance at the level of professors as well as students.

She pointed out that this day represents an important thing to learn about the distinguished services provided by banks, electronic payment companies and project finance companies and how to pave the way for students after their graduation to work in banking institutions.

The Director of Relations of the Islamic World Bank, Omar Al-Agha, explained that according to the directives of the Central Bank of Iraq and with great support from the Association of Iraqi Private Banks, we held financial inclusion events to familiarize all members of society with the work of the bank by presenting the multiple services provided to them.

He pointed out that the last five years of financial inclusion has begun to mature in Iraq through the understanding and awareness of the citizen For banking services and how to use electronic payment tools.

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DINARRECAPS8 5/8/23 DINARRECAPS8 5/8/23

Iraqi News Highlights Monday Evening 5-8-23

Tlm724 Administrator Bondlady’s Corner

The Representative Of The Kurdistan Regional Government In Baghdad And Representatives Of The World Bank Hold A Joint Meeting

Posted On2023-05-08 By Sotaliraq Today, Sunday (7/5/2023), the representative of the Kurdistan Regional Government in Baghdad, headed by Mr. Fares Issa, and representatives of the World Bank, Iraq branch, held a joint meeting in the private office of the head of the representative office, in the presence of the Undersecretary of the Federal Ministry of Finance, Mr. Masoud Haider.

Iraqi News Highlights Monday Evening 5-8-23

Tlm724 Administrator Bondlady’s Corner

The Representative Of The Kurdistan Regional Government In Baghdad And Representatives Of The World Bank Hold A Joint Meeting

During the meeting, they discussed how to implement the project to protect and enhance human capital in Iraq, which was prepared by the World Bank, Iraq branch, in cooperation with a Dutch organization.

The project includes providing financial grants as cash assistance to poor families in Dohuk Governorate and the Zakho Autonomous Administration.

It is noteworthy that the representative of the Kurdistan Regional Government is in constant contact with representatives of the World Bank and other international organizations in order to obtain approvals to support small economic projects and to provide grants to poor families in the governorates of the Kurdistan Region to improve their living conditions. LINK

Government Advisor: We Fear That Oil Revenues Will Not Be Invested In Improving Services

Posted On2023-05-08 By Sotaliraq Translated by: Hamed Ahmed A government advisor said in an interview with (The National) news website, translated by (Al-Mada), that Iraq may miss an opportunity to improve services and improve its economy after a year of record oil revenues, warning of rampant corruption that may end any gains at a time when the government is discussing a draft budget law of size $152 billion.

The government advisor, Muhammad al-Darraji, said that "red lines have been drawn up by politicians working to block any attempts at reform."

Al-Darraji added, in his interview with the news site, that “corruption in Iraq is not an act on an individual level, but rather an organized act by political parties seeking to finance themselves to strengthen their capabilities. That is why we need to be very precise and frank when we talk about these things.”

Iraq is trying to pass the draft budget law, which will witness a record volume of spending over a period of three years, with a record deficit rate as well, and a year has passed for the country without approving a budget due to political differences in the country before the formation of a government headed by Muhammad Shia al-Sudani last October.

One of the energy advisers, who asked not to be named, said, "The process of approving the budget may be a farce, as each party is fighting for higher and higher allocations for its ministries."

Al-Sudani's supporters are looking forward to reallocating investments in Iraq's infrastructure to an average of $40 billion annually.

Last week, the spokesman for the Ministry of Electricity, Ahmed Musa, said that the budget would provide a quantitative leap for this sector due to the frequent power outages.

But analysts say increased allocations of public sector salaries may undermine investment in public services. The budget may witness additional allocations for nearly 700,000 new job grades, and this means the allocation of $68 billion for salaries only, at a rate of $5.6 billion per month, which goes to cover the salaries of public sector employees, the retirees, and social welfare allocations, and these allocations are much higher than what is spent on public services.

The draft budget law relied on a price of $70 per barrel as an average, but expectations are not fixed regarding oil price fluctuations in the global market.

Kirk Sowell, an economic advisor at the World Bank specializing in Iraqi affairs, said that this approved figure is unrealistic, pointing out that this requires that the benchmark Brent crude price remain at 85 to 90 dollars per barrel so that the budget can cover operating expenses from oil resources. He added, “Perhaps Iraq may pass the budget at a time when the price of Brent crude is at $80 a barrel, which will be sufficient to cover the allocations.

However, the expenditures are huge and there will be problems in covering the deficit. And if another collapse in oil prices occurs, then Iraq may return to the stage of financial deficit that it witnessed in the year 2020, when it faced difficulty in providing public sector salary entitlements.

Regarding the drop in oil prices, Al-Darraji says, “The operating budget will be very high, and therefore there will be no room for investment allocations and the implementation of projects that are important to meet the needs of citizens.”

Al-Darraji said, "The introduction of many other appointments to the public sector by the government is another aspect of corruption that is overlooked."

He added, “Yes, al-Sudani has a vision and a desire to fight corruption through a new process to address this problem, but the question that needs an answer is what is related to the red lines set by the political parties, and will they allow al-Sudani to cross them. By red lines I mean political support for corrupt elements.”

Al-Daradji added, “Corruption is not limited to stealing money or taking commissions. Rather, corruption is when you put an incompetent person in a very important position so that he cannot carry out his duty and work properly, and this is a very big problem.”

In November, Al-Sudani formed a supreme commission to combat corruption, a step similar to steps taken by his predecessors, including former prime ministers. The developments in the work of this body have been slow over the years. Earlier this year, it was revealed that $2.5 billion was stolen from tax secretariat deposits supervised by the Ministry of Finance. Al-Sudani also decided to evaluate the performance of the special grade employees, as another attempt to eradicate corruption. LINK

Al-Sudani Directs To Expedite The Implementation Of The Electronic Payment System

Posted On2023-05-08 By Sotaliraq Prime Minister Mohamed Shia Al-Sudani directed ministries and agencies not associated with a ministry and all governorates to expedite the implementation of points of sale with the electronic payment system and to make unremitting efforts for this.

Haider Majeed, a spokesman for the General Secretariat of the Council of Ministers, said, in a statement followed by (Al-Mada), that “the Prime Minister, Muhammad Shia’a Al-Sudani, directed ministries and agencies not associated with a ministry and all governorates to expedite the implementation of points of sale with the electronic payment system (POS) and make unremitting efforts for that".

Majeed added, "The directive came during the cabinet meeting in its eighteenth regular session, held on 5/2/2023," stressing that "the Department of Cabinet Affairs and Committees in the General Secretariat of the Council of Ministers will follow up on the implementation of the directive with the relevant authorities."

In addition, the bank’s deputy governor, Ammar Hamad Khalaf, stated in a press statement, “The cabinet’s decision to activate electronic payment in all joints aims to reduce the use of cash and increase dealing with funds electronically through the use of cards, which is an important complement to the salary localization project that began its implementation several years ago.” ".

Khalaf added, "The decision will enable the bank to implement a mechanism that enables employees to receive their salaries through the payment cards currently used, such as MasterCard, and to be filled into their bank balance without the need to receive cash."

He pointed out, "The Central Bank will intensify its efforts to increase the use of payment cards in markets and shops, and the Cabinet's decision will require government institutions and all spending units in the public and private sectors to find electronic payment devices in their dealings."

And Khalaf went on to say that “payment via electronic devices will reduce cash circulation, and it is better in terms of saving money and safer than transferring it.”

For its part, Al-Rafidain Bank media stated in a statement that (Al-Mada) received a copy of it two days ago, that “in line with the government program and the directive of Prime Minister Muhammad Shia Al-Sudani during the esteemed cabinet session, that ministries and all departments work to expedite the implementation of points of sale with the electronic payment system.”

(POS) and in support of the decisions of the Central Bank of Iraq to move to electronic cash, starting from (June 1, 2023).

And he continued, “Al-Rafidain Bank decided, in cooperation with the General Company for Smart Cards, to grant (POS) devices to all state institutions and the private sector for free, provide technical and logistical support, supportive software, and train all technical personnel in exchange for (zero) commissions until the end of the year 2023, and the responsibility of the Bank of Mesopotamia.”

The Council of Ministers had decided earlier that the implementation of electronic sales would start in the next month. LINK

Finance Minister Taif Sami and US Ambassador Elena Romanowski discussed the possibility of establishing long-term investment partnerships.

The ministry's media office said in a statement, "Finance Minister Taif Sami Muhammad received the US ambassador to Baghdad, Elena Romanowski."

He added, "During the meeting, they discussed various aspects of cooperation between Iraq and the United States, ways to support the growing indicators of the Iraqi economy, and government efforts in this framework, as well as an emphasis on cooperation in the field of banking reform adopted by the government, in addition to discussing the possibility of concluding investment partnerships." long-term by creating stable investment environmental conditions in the Iraqi market.

https://www.radionawa.com/all-detail.aspx?jimare=34298

International Monetary Indicates A Rise In Iraq's Hard Currency Reserves

Monday 08 May 2023 09:19 | Economical Number of readings: 559 Baghdad / NINA / - The International Monetary Fund revealed, today, Monday, that Iraq's hard currency reserves have increased, and it is likely that they will not reach 100 billion US dollars during the current year 2023.

And the fund expected, through the schedule for the current month of May, that Iraq's reserves of hard currency during the current year 2023 will reach about 99.4 billion dollars, after it was 97 billion dollars in 2022," noting that "it is also expected that" these reserves will decrease to 93.1 billion. dollars in 2024.

And she added, "Iraq's reserves have increased significantly from what they recorded in 2020, which at that time amounted to 54.4 billion dollars, while the reserves in 2021 amounted to about 64.2 billion dollars, and in 2022 they amounted to 97 billion dollars."

And the hard currency reserve, which is the state’s reserves of foreign currencies, and it is called the foreign exchange reserve, and the aim of the reserve is to protect the state and maneuver with it in times of economic recession or wars. https://ninanews.com/Website/News/Details?key=1051927

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

https://www.bondladyscorner.com/

Dinar Recaps 20 5/8/23 Dinar Recaps 20 5/8/23

KTFA Members "News and Views" Monday 5-8-2023

KTFA:

Henig: In the presence of the Minister of Finance. Al-Mandalawi: The people will not excuse anyone if the budget is delayed

2023/05/07 23:52:45

{Political: Euphrates News} Mohsen Al-Mandalawi, First Deputy Speaker of the House of Representatives, chaired on Sunday, a meeting of the Parliamentary Finance Committee, during which it hosted Finance Minister Taif Sami, to discuss the draft federal budget law.

Al-Mandalawi stressed during the meeting, according to a statement by his office, a copy of which was received by {Euphrates News}, "the importance of speeding up the completion of the discussion and maturity of the project, indicating that the Iraqi people in all its spectrums are waiting for the approval of the budget because it is directly related to their lives, and will not excuse anyone in the event of delay."

KTFA:

Henig: In the presence of the Minister of Finance. Al-Mandalawi: The people will not excuse anyone if the budget is delayed

2023/05/07 23:52:45

The First Vice President called for "identifying appropriate measures to overcome the current obstacles and challenges to speed up the approval of the budget, stressing the need to ensure the financial dues of the holders of the degrees for appointment, and to increase the share of governorates to complete lagging and strategic projects.

During the meeting, the sections for the disbursement of the amounts of the Emergency Support Law were clarified, and it was emphasized to provide the Finance Committee with detailed data about it, as well as employee compensation and service supplies, grants and subsidies, social welfare, and internal and external debts. LINK

Henig: IMO: Oh yeah, ramping up the pressure to git that budget DONE. *gleefully rubs hands together while grinning* And I'm here for it. LOL

Frometad: Henig...Didn't Sudani give parliament till the 10th to get this done?

Henig: IMO If I remember correctly, that sounds about right. I *THINK* Sudani gave them until the 10th to git er done.

Zeeman: yes the GOI was given by the 10th and they start their vacation on the 9th but will stay on till the budget is passed. this comes from articles last week in the forum IMO…tomorrow is the 9th they are supposed to start their vacation. will they stay on and finish the budget?

Turk182: As we embark on yet another week of (kicking the can) - let us NOT forget the numerous UB2Bs where Frank has stressed, "who cares" about news articles, this is "done, done, done" - Now we just have to continue playing the "waiting game" until the citizens of Iraq force their Government to either put up or shut up. Talk is cheap, it's now time to see some action.

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

Clare: After discussing it with Romanowski... The Iraqi budget is on Sami's table and the parliamentary finance

5/08/2023

On Monday, the US Ambassador to Baghdad, Elena Romanowsky, revealed the content of her meeting with the Iraqi Finance Minister, Taif Sami.

Romanowski stated, in a tweet seen by Shafaq News Agency, that she "met with the Minister of Finance to follow up the meetings of the International Monetary Fund and the World Bank that took place in Washington and discuss the status of the Iraqi government's budget in 2023."

She explained that "the US government supports ways of social spending, investment in infrastructure and long-term economic development to meet the needs of Iraqis."

Yesterday, Sunday, the Ministry of Finance announced that its Minister, Taif Sami, and the US Ambassador to Baghdad, Elena Romanowski, confirmed support for government measures in the field of Iraqi banking reform, in addition to discussing the possibility of establishing long-term investment partnerships by creating stable investment environmental conditions in the Iraqi market.

In a related context, Mohsen Al-Mandalawi, First Deputy Speaker of the House of Representatives, chaired a meeting of the Parliamentary Finance Committee, during which it hosted Finance Minister Taif Sami, to discuss the draft federal budget law.

During the meeting, Mandalawi stressed the importance of expediting the completion of the discussion and maturation of the project, indicating that the Iraqi people of all sects are waiting for the approval of the budget because it is directly related to their lives, and will not excuse anyone in the event of delay.

The First Deputy called for determining the appropriate procedures to overcome the current obstacles and challenges to expedite the approval of the budget, stressing the need to guarantee the financial dues of those with special grades for appointment, and to increase the share of the governorates to complete the lagging and strategic projects.

During the meeting, according to the statement, the doors for disbursing the amounts of the Emergency Support Law were clarified, and an emphasis was placed on providing the Finance Committee with detailed data about them. Employee compensation and service requirements, grants and subsidies, social care, and internal and external debts were also discussed. LINK

Henig: IMO: And it begins...

IRAQI CITIES WITNESS 4 DEMONSTRATIONS

07 May 2023

Baghdad-ALsharqiya, May 7: Today, Sunday, Baghdad witnessed two demonstrations in the streets, where hundreds of retirees from various provinces demonstrated in the center of the capital, to demand the implementation of the provisions of the retirement law, to increase their salaries in line with the high inflation rate.

The demonstrators stressed the need to implement Article 36 of the Retirement Law of 2014, which stipulates an increase in the salaries of retirees when inflation and prices rise, stressing that their current salaries do not provide them with the most basic necessities of a decent life.

The first graduates also renewed their demonstrations in Baghdad, demanding their inclusion in appointments and their inclusion in the 2023 budget.

The demonstrators confirmed that they would not give up their right to appointment, and that they would continue with daily demonstrations until their demands were met through the amendment of the Employment of Seniors Law No. 67.

A number of employees of the Basra Water Directorate demonstrated, demanding fairness and an amendment to the salary scale. LINK

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

Clare: Finance Minister to Parliament: We will challenge the budget in {one case}

5/08/2023

The Parliamentary Finance Committee revealed that the Minister of Finance, Taif Sami, informed the committee that the government will challenge the draft financial budget law "in one case."

Committee member Jamal Cougar said; For the program {Without Accusation} broadcast by Al-Furat TV channel this evening: "The Minister of Finance confirmed during her hosting in the committee that the appeal will be in the event of a reduction in the budget."
He added, "The committee will go either towards a reduction or staying on the existing numbers.

The Ministry of Finance and the government have the right to appeal before the Federal Court constitutionally, and we may go to stretchers instead of a reduction," noting that "we reduced the deficit in the previous budget by approximately 4 trillion, but in this budget we did not reduce it." The deficit so far, and we are checking the allocations of ministries and agencies.

He pointed out, "We are facing the largest budget and the largest deficit for three years, and this calls for extreme caution, because any mistake in it will be repeated for three years."

He continued, "The discussions will not end on May 10, as this date was set by the State Administration Coalition."

Cougar said, "The day of the vote on the budget will be in one parliamentary session," noting that "next Tuesday will be devoted to the discussions of the Finance Committee only, without hosting to discuss the budget items," noting that "activating and consolidating resources and aspects of reduction are among the priorities of the discussion." LINK

DINARRECAPS8 5/8/23 DINARRECAPS8 5/8/23

Iraqi News Highlights Monday Afternoon 5-8-23

Tlm724 Administrator Bondlady’s Corner

International Monetary Indicates A Rise In Iraq's Hard Currency Reserves

Monday 08 May 2023 09:19 | Economical Number of readings: 48 Baghdad / NINA / - The International Monetary Fund revealed, today, Monday, that Iraq's hard currency reserves have increased, and it is likely that they will not reach 100 billion US dollars during the current year 2023.

Iraqi News Highlights Monday Afternoon 5-8-23

Tlm724 Administrator Bondlady’s Corner

International Monetary Indicates A Rise In Iraq's Hard Currency Reserves

And the hard currency reserve, which is the state’s reserves of foreign currencies, and

it is called the foreign exchange reserve, and

the aim of the reserve is to protect the state and maneuver with it in times of economic recession or wars. / End 8 https://ninanews.net/Website/News/Details?key=1051927

Prime Minister: Iraqi Banks May Collapse In The Face Of Any Financial Crisis

Information / Baghdad..On Thursday, Prime Minister Muhammad Shia al-Sudani criticized the banking sector in Iraq and its role in the economic process.

Al-Sudani said in a special session of the Iraq Forum, which was followed by Al-Malooma, "Unfortunately, we do not have a banking system, neither governmental nor private, in Iraq.

Rather, it is a real problem, and with the first earthquake, the banks collapsed."

He added: I say it with confidence, that if it were not for our procedures with the Central Bank, we would not have been able to face the exchange rate crisis. He pointed out that "corruption in Iraq needs a decision and will, and the government will not hesitate to hold the corrupt accountable, and we have no red lines," noting that "recovering money and wanted persons is a key factor in the war on corruption."

https://almaalomah.me/news/economy/رئيس-الوزراء:-المصارف-العراقية-قد-تنهار-أمام-أي-أزمة-مالية

Finance Is Discussing The Application Of The Treasury Single Account (TSA) With IMF Experts

Information / Baghdad..On Sunday, Finance Minister Taif Sami Muhammad discussed with a minister with experts from the International Monetary Fund (MITAC) the requirements for designing and implementing the single treasury account system ????????????.

"The ministry is keen to expand the use of technological solutions to ensure the sustainable modernization of financial systems, according to the latest international standards and expertise, in line with efforts to face challenges and facilitate financing procedures in record times," Sami said in a statement received by Al-Maaloumah.

And she explained that

"the application of the account will allow the possibility of

monitoring the movement of funds to the spending units and

identifying the remainder in the departments' accounts and

restoring it for the benefit of the state treasury, as well as

diagnosing the units that are still outside the system of settlement of salaries,

in addition to that the project will provide an accurate database that contributes to accounting operations and the diagnosis and treatment of errors momentarily.”

And the Minister of Finance indicated seeking to "agree with the support team at the World Bank on the participation of Iraqi cadres in expanded rehabilitation programs under the supervision of the World Bank, with the aim of enhancing the expertise and skills of cadres working on the account, and ensuring the success of its management with high professionalism and efficiency." The statement indicated that

"the meeting discussed the approved outputs during the previous period, and reviewed the next stages of implementing the TSA project according to the specified timelines and allocated costs, as well as examining the extent of the system's response to the rest of the sub-systems such as preparing the general federal budget, procurement and payments systems, fixed assets, the payroll system, and the system." Revenue, cash management, etc.

https://almaalomah.me/news/economy/المالية-تبحث-تطبيق-حساب-الخزينة-الموحد-tsa-مع-خبراء-صندوق-ال

Baghdad And Washington Are Discussing The Possibility Of Long-Term Investment Partnerships

Political Baghdad – conscious Today, Sunday, Finance Minister Taif Sami and US Ambassador Elena Romanowski discussed the possibility of establishing long-term investment partnerships.

The ministry's media office said, in a statement received by the Iraqi News Agency (INA), that "Finance Minister Taif Sami Muhammad received, today, the US ambassador to Baghdad, Elena Romanowski."

He added, "During the meeting, they discussed various aspects of cooperation between Iraq and the United States,

ways to support the growing indicators of the Iraqi economy, and

government efforts in this framework, as well as an

emphasis on cooperation in the field of banking reform adopted by the government, in addition to

discussing the possibility of concluding investment partnerships." long-term by

creating stable investment environmental conditions in the Iraqi market.

https://www.ina.iq/184586--.html

Details Of The Parliamentary Hosting Of The Minister Of Finance

Political | 01:43 - 08/05/2023 Baghdad - Mawazine News, the Media Department of the House of Representatives announced, today, Monday, the details of the parliamentary hosting of the Minister of Finance, Taif Sami, which included discussing the file of lecturers and contracts.

And the media department of the parliament stated in a statement, that “headed by the First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, the Finance Committee, in the presence of Representative Atwan Al-Atwani, Chairman of the Committee and its members, hosted Minister of Finance Taif Sami for the second time to discuss the ministry’s budget, and the possibility of making transfers of amounts to ensure reducing spending and increasing the revenues that are supplied The state treasury, in addition to developing an appropriate strategy on the ministry’s mechanism in relation to spending units.

According to the statement, al-Mandalawi presented "a proposal regarding the sums of money allocated to the governorates for the implementation of service projects and the possibility of conducting transfers, as they are insufficient in exchange for the size of projects within the development of the regions," while requesting "detailed data in this regard," stressing the "maturity of the project."

He pointed out that "the Iraqi people are waiting for the approval of the budget because it is directly related to the lives of the people."

The Chairman of the Finance Committee also welcomed the Minister of Finance, explaining that “hosting includes two axes, the first is the ministry’s budget, which, according to the table listed, is 99% of the current budget allocations, and 1% of the total ministry’s allocations within the general budget law, and the second is access. on the results of previous hosting of ministers.

And he stated, “The ministry’s allocations for previous years were discussed compared to the current year, and the reasons for the increase in spending chapters such as grants, advertisements, and other expenses, and social care,” pointing to “the necessity of maximizing revenues such as taxes, real estate, collection service, and others.”

For her part, the Minister of Finance reviewed "the spending chapters of the ministry," noting that "the volume of sums within the chapters on indebtedness, interest, the Olympic Committee, and other chapters are not in favor of the Ministry of Finance."

And she explained, “The doors of disbursement of amounts related to retirement contributions, martyrs’ institutions, accountability, justice, and others for the year 2019,” revealing “the formation of a committee within the ministry to calculate the financial costs.”

The committee reviewed the most important legal provisions contained in the 2023 Budget Law, which include “conducting transfers at a rate of (30%) to the Baghdad governorate within the development of the regions, and obligating the relevant ministries to activate the service of electricity, telephone, water, sewage, and other fees, in addition to allocations for employee compensation, and the items of the ration card.” Social care, wheat crops, milk, medicines, and other investment projects.

Interventions during the meeting, which lasted late, included how to pay off foreign debts owed by Iraq and the Ministry's procedures to supplement the state's public treasury, in addition to estimating oil and non-oil revenues and the volume of revenues, accounts and the subject of free lecturers and contracts after 10/2/2919, and the mechanism for including their allocations. And the appointment of the first graduates and holders of higher degrees, and commission contracts, in addition to some contracts that did not allocate funds to them. https://www.mawazin.net/Details.aspx?jimare=226371

Oil Is Rising, With Brent Crude Recording $75.56 A Barrel

Economy| 08:50 - 08/05/2023 Follow-up - Mawazine News Oil prices rose slightly on Monday, as traders remained cautious despite easing fears of a recession in the United States.

Brent crude futures rose 26 cents, or 0.35 percent, to $75.56 a barrel at 04:38 GMT.

US West Texas Intermediate crude futures rose 29 cents, also 0.41%, at $71.63. Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=226351

The International Monetary Fund Expects Iraq's Reserves To Decrease To $93.1 Billion In 2024

Economy | 09:13 - 08/05/2023 Follow-up - Mawazine News The International Monetary Fund expected, on Monday, that Iraq's hard currency reserves during the current year will reach "about $99.4 billion."

And the fund stated that it is also expected that “these reserves will decrease to $ 93.1 billion in 2024.”

He added, "Iraq's reserves have increased significantly from what they recorded in 2020, which at that time amounted to $54.4 billion, while in 2021 they amounted to $64.2 billion, and in 2022 they amounted to $97 billion." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=226352

With The Participation Of Iraq.. 14 Notes On The Discussion Table Of The Arab Financial Markets

Money and business Economy News / Baghdad The Federation of Arab Capital Markets (AFCM) held its annual meeting on Monday, May 8, 2023 in Muscat, in the presence of the authorized managers of the Arab stock markets, clearing companies, and member brokerage firms.

Among the participants was the Iraq Stock Exchange, represented by the Executive Director, and Al Rabie Brokerage Company, represented by its Director.

The Stability Of The Iraqi Central Sales At 180 Million Dollars

Monday 08 May 2023 13:24 | Economical Number of readings: 225 Baghdad / NINA / - The Central Bank's sales of dollars stabilized in the currency auction today, Monday, amounting to more than 180 million dollars.

And a table for the bank showed that "the total amounts of transfers abroad (remittances, credits) amounted to 152,167,639 dollars."

And "the total amounts of cash sales amounted to 28,100,000 dollars, while the total sales amounted to 180,267,639 dollars."/ https://ninanews.com/Website/News/Details?key=1051987

A Slight Rise In The Dollar On The Local Stock Exchange

Monday 08, May 2023 | Economical Number of readings: 386 Baghdad / NINA / - Today, Monday, the exchange rates of the dollar against the dinar recorded a slight increase in the local stock exchange in the capital, Baghdad.

And the selling price of the dollar on the stock exchange recorded 145,500 dinars per 100 dollars, while the purchase price recorded 144,500 dinars per 100 dollars./ End 8

https://ninanews.com/Website/News/Details?key=1051952

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

https://www.bondladyscorner.com/

Dinar Recaps 20 5/8/23 Dinar Recaps 20 5/8/23

"Tidbits From TNT" Monday 5-8-2023

TNT:

Tishwash: Iraq’s RMB settlements with China excludes oil trade – official

The decision announced in February covers only commercial imports by the Iraqi private sector

Iraq’s decision to permit trade settlements with China in Renminbi (RMB) instead of the US Dollar only covers commercial imports by the private sector from China, the governor of the Central Bank of Iraq (CBI).

Ali Al-Alaq told Zawya Projects that the decision taken in February 2023 to allow trade from China to be settled directly in RMB covers only commercial imports from China by private sector companies and not oil trade.

The Iraqi government’s economic adviser, Mudhir Salih, who was quoted in the February report by Reuters, later clarified to the local media that the decision doesn’t apply to oil trade between the two countries.

TNT:

Tishwash: Iraq’s RMB settlements with China excludes oil trade – official

The decision announced in February covers only commercial imports by the Iraqi private sector

Oil trade between Iraq and China is settled in US dollars via oil payments account at the United States’ Federal Reserve, which is the custodian of Iraq’s foreign currency earnings since the US invasion of Iraq in 2003.

Saleh explained that this step is in line with the growing role of the RMB at a time when many countries are looking to diversify their sources of foreign currencies.

In 2022, China imported year, China imported around 55.5 million tonnes of crude oil from Iraq, according to a February 2023 report by yicaiglobal.com.

Iraq ranked fifth among the top 10 crude oil exporters to China's independent refineries, local news website Shafaq News had reported in April, citing China's Customs Administration statement. link

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

CandyKisses: Iraq Maintains Its 30th Position In The World With The Largest Gold Reserves

Earth News / The World Gold Council announced on Monday that Iraq maintained its 30th rank globally for the fifth consecutive month with the largest gold reserves.

The Council said in its latest schedule for the month of April 2023 seen by Earth News that "Iraq's ranking comes out of 100 countries listed in the table with the largest gold reserves, after it rose ten ranks in July 2022 to reach 130.3 tons, representing 8.1% of the rest of its other reserves."

She added that "Iraq did not buy or sell any amount of gold during the first months of 2023," noting that "the last purchase of gold by Iraq was in June of last year 2022 when it bought a quantity of 33.9 tons."

He pointed out that "the most central banks buying gold during the first quarter of 2023 were Singapore, which bought 68.67 tons, followed by China by 57.85 tons, followed by Turkey with 30.21 tons, then India with 7.26 tons, while the most central banks of countries selling gold during this period were Kazakhstan with 19.64 tons, followed by Uzbekistan with 14.62 tons, and then Cambodia with 10.08 tons."

Globally, according to the table, the United States of America still leads the rest of the countries with the largest gold holdings in the world with 8.133 thousand tons, followed by Germany with 3.355 thousand tons, then Italy came with 2.451 thousand tons, while Bosnia and Herzegovina ranked 100th and by 1.5 tons, preceded by Yemen by 1.6 tons.

On June 27, 2022, Iraq announced the purchase of new quantities of gold with approximately (34) tons, an increase of 35% over what was in its possession.

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

Tishwash: Debts, revenues, lecturers and contracts... Details of the parliamentary hosting of the Minister of Finance

Today, Monday, the Media Department of the House of Representatives announced the details of the parliamentary hosting of the Minister of Finance, Taif Sami, which included discussing the file of lecturers and contracts.

He pointed out that "the Iraqi people are waiting for the approval of the budget because it is directly related to the lives of the people."

And she explained, "The doors of disbursement of amounts related to retirement contributions, martyrs' institutions, accountability, justice, and others for the year 2019," revealing "the formation of a committee within the ministry to calculate the financial costs."

The committee reviewed the most important legal provisions contained in the 2023 Budget Law, which include “conducting transfers at a rate of (30%) to the Baghdad governorate within the development of the regions, and obligating the relevant ministries to activate the service of electricity, telephone, water, sewage, and other fees, in addition to allocations for employee compensation, and the ration card items.” , social care, wheat crops, milk, medicines, and other investment projects.

And the appointment of the first graduates and holders of higher degrees, and commission contracts, in addition to some contracts that did not allocate funds to them. link

CandyKisses: TOP TEN REASONS TO BE SINGLE

Mot: .... Just a Word of Caution Who ever might have missed it!!!

Dinar Recaps 20 5/8/23 Dinar Recaps 20 5/8/23

Goldilocks "Gold Will Set Us Free" Monday 5-8-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks started off the morning with a commentary on where we are followed by links with comments:

The markets are mixed opening up this morning as the debt limit is coming into focus.

We are at a crossroads. It is going to take large sums of money and use of the commodity markets to utilize and create a technological society.

So many questions are being left unanswered. The move ahead will require creativity beyond the imagination of the world in which we presently live.

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Goldilocks started off the morning with a commentary on where we are followed by links with comments:

The markets are mixed opening up this morning as the debt limit is coming into focus.

We are at a crossroads. It is going to take large sums of money and use of the commodity markets to utilize and create a technological society.

So many questions are being left unanswered. The move ahead will require creativity beyond the imagination of the world in which we presently live.

Everyone is going to have to step up no matter what decisions are made. The evolution of what it means to be human is currently on trial.

This week inflation data is in focus. We are going to take a look at the CPI and PPI indexes.

For the last 2 years our markets have been flat and going nowhere as debt limits continue to break through the ceiling.

The key in moving forward will be opening up our economy with liquidity. This is why a pause in raising interest rates is on the table.

A repricing event in the commodity markets will lead the way as the dollar falls into alignment with currencies around the world inside new exchange rates across the board.

All roads lead to gold.

~~~~~~~~~~

Basel 4 is the implementation of Basel 3. We are currently inside the revaluation of everything that is the end on June 30th.

The next steps that follow will be the full implementation of Basel 4.

The new rules on the banking system will affect the markets at that time creating new algorithms and new liquidity forging new paths into unfamiliar territory.

"Where we go one, we go all."

© Goldilocks

http://www.zerohedge.com/markets/basel-iv-rules-are-coming-and-will-make-bank-lives-even-more-difficult

https://www.investopedia.com/basel-iv-5218598

~~~~~~~~~~

"Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow"

This is a huge toll on the banking system and the US economy.

We are living in a time whereby movement forward will require a major change in the way we provide liquidity to the banking system and the markets.

As we continue to look for a repricing event in gold, look for more banking consolidation efforts to take place.

Gold will set us free.

© Goldilocks

https://news.bitcoin.com/fed-reveals-722-banks-reported-unrealized-losses-over-50-of-capital-as-concerns-over-us-banking-crisis-g

~~~~~~~~~~

Breaking News:

In about 30 minutes, Zimbabwe goes live on many platforms around the world with their gold-back currency tokens.

They are looking for the New Development Bank in the BRICS system to help fund this project.

Look for a ripple effect in the global economy as this new monetary policy moves forward.

© Goldilocks

https://qz.com/zimbabwe-gold-backed-digital-currency-us-dollar-1850407861

https://www.businessweekly.co.zw/zim-turns-to-brics-bank-for-funding/

row/

https://news.metal.com/newscontent/102204646/a-bull-gold-market-has-just-begun

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

DINARRECAPS8 5/8/23 DINARRECAPS8 5/8/23

Monday Morning Iraq Economic News Highlights 5-8-23

After Discussing It With Romanowski... The Iraqi Budget Is On Sami's Table And The Parliamentary Finance

2023-05-08 Shafaq News/ On Monday, the US Ambassador to Baghdad, Elena Romanowsky, revealed the content of her meeting with the Iraqi Finance Minister, Taif Sami.

Monday Morning Iraq Economic News Highlights 5-8-23

After Discussing It With Romanowski... The Iraqi Budget Is On Sami's Table And The Parliamentary Finance

2023-05-08 Shafaq News/ On Monday, the US Ambassador to Baghdad, Elena Romanowsky, revealed the content of her meeting with the Iraqi Finance Minister, Taif Sami.

She explained that "the US government supports ways of social spending, investment in infrastructure and long-term economic development to meet the needs of Iraqis."

For The Fifth Month.. Iraq Maintains Its 30th Rank In The World With The Largest Gold Reserves

2023-05-08 Shafaq News/ The World Gold Council announced, on Monday, that Iraq has maintained its 30th rank in the world for the fifth consecutive month, with the largest gold reserves.

The council said in its latest schedule for the month of April 2023, seen by Shafaq News agency, that "Iraq's ranking comes out of 100 countries listed in the table with the largest reserves of gold, after it rose ten ranks in July 2022, bringing its gold possession to 130.3 tons, which represents 8.1% of the rest." other precautions.

And she added, "Iraq did not buy or sell any amount of gold during the first months of 2023," noting that "the last purchase of gold by Iraq was in June of last year 2022 when it bought 33.9 tons."

He pointed out that “the most central banks buying gold during the first quarter of 2023 was the share of Singapore, as it bought 68.67 tons, followed by China by 57.85 tons, followed by Turkey 30.21 tons, then India 7.26 tons, while the most central banks of countries sold gold during This period went to Kazakhstan with 19.64 tons, followed by Uzbekistan with 14.62 tons, and then Cambodia with 10.08 tons.

Globally, according to the table, the United States of America still leads the rest of the countries with the largest possession of gold in the world, with 8,133 thousand tons, followed by Germany with 3,355 thousand tons, and then Italy came with 2,451 thousand tons, while Bosnia and Herzegovina ranked 100th with 1.5 tons, preceded by Yemen with 1.6 tons.

On June 27, 2022, Iraq announced the purchase of new quantities of gold, amounting to approximately (34) tons, an increase of 35% over what was in its possession.

It is noteworthy that the World Gold Council, which is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest and most gold mining companies in the world. LINK

President Of The World Bank: The World Is Facing Huge Economic Challenges

Arab and international World Bank President David Malpass stressed that the world is facing huge economic challenges, in statements that may be his last before leaving office next June.

Malpass said, "Development worldwide is facing huge challenges such as high inflation and interest rates, in addition to very high levels of debt, causing a serious decline in growth and investment, especially in developing countries."

Malpass emphasized that investing in people is a top priority for the World Bank, and that one of the main drivers of human capital accumulation is access to high-quality education.

He considered accelerating access to quality education as a major development challenge, and vital to achieving breakthroughs in science, technology and innovation.

With regard to the US economy, the President of the World Bank explained, "We must bear in mind that if you cut the interest rate only, this will not solve the problem."

Malpass added, "People will suffer from inflation, and if the interest rate is suddenly and quickly reduced, this will weaken the dollar, and the inflation rate will rise again, and this will greatly harm the poor, and I think that a goal must be set to achieve stability between a low inflation rate and a stable dollar."

David Malpass, the current president of the World Bank, announced his early resignation from his post, in a decision he described within the bank's corridors as "surprising", while reports indicate that the decision is somehow linked to the White House.

It is noteworthy that the World Bank revealed, last week, that the Board of Directors had chosen the US candidate to head the Indian-American Financial Corporation, Ajay Banga, who gives combating climate change a priority unlike his predecessor.

The new World Bank president will take office on the second of next June for a period of 5 years, one day after the end of the term of his predecessor, David Malpas, who was chosen by former US President Donald Trump. Views 12 Added 05/08/2023 - https://economy-news.net/content.php?id=34066

Reuters: Iraq Will Sell Basra Oil Four Dollars Less Than Brent Prices

Energy Economy News-Baghdad The Iraqi Oil Marketing Company, SOMO, has set Iraqi crude prices for next June.

Reuters reported, quoting SOMO, that Iraq set the official selling price for Basra Medium crude in June to Asia, at a discount of 15 cents per barrel from the average prices of Oman / Dubai.

It added that Iraq set the official selling price for Basra Medium crude in June to North and South America at a discount of one dollar per barrel from the high-sulfur Argus crude index.

While Iraq set the official selling price for Basra Medium crude in June to Europe, at a discount of $4.60 per barrel over Brent crude. 473 05/07/2023 - https://economy-news.net/content.php?id=34056

Oil Minister: The Earthquake Is Behind Turkey Stopping The Flow Of Iraqi Oil Through Its Territory

Baghdad - Iraq today: The Iraqi Oil Minister, Hayan Abdul Ghani, revealed that the earthquake events on the sixth of last February called on Turkey to stop exporting the oil of the Kurdistan region, stressing the importance of all parties' commitment to the oil agreement between Baghdad and Erbil.

This came during his hosting by the Parliamentary Oil, Gas and Natural Resources Committee, headed by Representative Haibat al-Halbousi, head of the committee.

Hayan Abdul Ghani, pointed out that "there is an agreement between the federal government and the Kurdistan Regional Government regarding the export of oil through the (SOMO) company so that there is no difference in prices."

Regarding the reasons for stopping the export of oil, he mentioned that "the reasons for stopping the oil export from the Turkish side are after the earthquakes that took place in Turkey recently, which prompted the Turkish side to stop it so that the specialized company can examine and confirm its safety.”

The Iraqi Oil Minister stressed "the importance of the commitment of all parties to the agreement on the issue of exporting crude oil from the Kurdistan region, which is determined as the lowest export rate by (400) thousand barrels per day."

He pointed out that "compensation is now being made by increasing crude oil production by the Basra Oil Company until work is resumed to export oil from the Kurdistan region." LINK

After The Budget.. Al-Sudani Is Preparing A Package Of Dismissals That Include Ministries And Agencies

Today 08:57 Information / Baghdad... A member of the Al-Fatah Alliance, Ali Al-Fatlawi, confirmed, on Monday, that Prime Minister Muhammad Shia Al-Sudani had obtained the green light from the political blocs to dismiss the negligent officials, pointing to the importance of giving ministers an opportunity after the budget legislation to observe the extent of their success and failure in managing the ministries.

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

Al-Fatlawi told Al-Maalouma, "The platform developed by Prime Minister Muhammad Shia'a Al-Sudani and the charter agreed upon by the political blocs before Al-Sudani took power gives him the opportunity to build a real state capable of overcoming the traps that were set for it previously."

He added, "Al-Sudani gave an opportunity to ministers, governors and general managers to carry out their work and then evaluate them, and today we notice the emergence of a first batch of negligent officials, as they were dismissed and waiting for other batches."

And he indicated that "it is fair to give a period to the ministers in order to wait for the budget legislation in order to observe what they will do in terms of work in their ministries so that there is another opinion for the prime minister in the event of the failure or success of the ministry," stressing that "the political blocs gave Al-Sudani the green light in order to make changes which he finds appropriate. LINK

He Reached A Critical Stage.. Parliament Agreed To Remove Al-Halbousi From Power

Information / Baghdad... The conflict within the Sunni house has reached a critical stage in light of Parliament Speaker Muhammad al-Halbousi's continued attempt to impose the decision on the opponents inside the same house, at a time when political parties refused to continue with this approach, as it made the conflict raging in Anbar Governorate with the approaching elections The local council, during which he seeks to obtain more power and seats in order to fully control the province, which generated great opposition inside and outside the province, especially within Parliament, where some parties assert that the majority in the House of Representatives will go towards dismissing Al-Halbousi in the event that the Sunnis put forward this option.

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

Former MP Jassim Al-Bayati told Al-Maalouma that "the political competition for local seats will be concentrated in Anbar Governorate, because there is great competition to pull the rug out from under Parliament Speaker Muhammad al-Halbousi." its political space.

On the other hand, Ali Hussein, a member of the Al-Fateh Alliance, confirmed to Al-Maalouma that "the Speaker of Parliament has become an unacceptable figure, as he will be removed from the position if the Sunnis raise this matter and by the majority in the House of Representatives, as the coordination framework will stand by them when The dismissal project was put forward in the council.

On a related note, political analyst Hussein al-Kinani saw during his interview with Al-Maalouma that "there is more than one party working to change Muhammad al-Halbousi and remove him from the position of Speaker of Parliament after accusing him of monopolizing power and exploiting it improperly, especially since he monopolized power in Anbar Governorate at the expense of Other parties, in addition to his involvement in corruption files through the seizure of state lands amounting to 64 thousand plots, through forgery and the involvement of parties in the Real Estate Registration Department in this file. LINK

The Race To Legislate The Budget.. Parliamentary Finance Hosts A Sublime Spectrum

Baghdad today – Baghdad The Parliamentary Finance Committee hosted, this evening, Sunday, the Minister of Finance, Taif Sami, in the context of hosting the ministers, successively, to discuss budget items and financial allocations.

And the media department of Parliament said in a statement received by "Baghdad Today", that "the Finance Committee hosts the Minister of Finance headed by the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi." LINK

Dinar Recaps 20 5/8/23 Dinar Recaps 20 5/8/23

Awake in 3D " California Defaults On $18.6 Billion In Debt, Saddling Employers With The Expense"

Awake in 3D: May 7th, 2023

There are US States that will lead us to a GCR the good way (see Texas gold-backed currency article ), and there are States that will lead us to a GCR the hard way - like the State of California.

California Defaults On $18.6 Billion In Debt, Saddling Employers With The Expense

The more CA lawmakers push their gross financial negligence (sheer fiscal stupidity) on businesses and taxpayers, the more business closings there are, leading to collapsing tax revenues.

This, in turn, increases unemployment, raises the everyday costs of everything, and pushes further stress onto banks (loan defaults), and the State Government’s daily expenses (unemployment insurance, healthcare and general welfare like food assistance).

Awake in 3D: May 7th, 2023

All of this then spreads in a financial contagion to other states, and eventually onto the US Federal Government.

This than increases inflation and a worsening national recession, which feeds into an increasing likelihood of total financial collapse.

Wash, rinse, repeat. A Financial collapse vortex.

Then a GCR.

@GCR_RealTimeNews

https://t.me/GCR_RealTimeNews/289GCR Real-Time News, [May 7, 2023 at 19:07]

————————————-

https://www.zerohedge.com/political/california-defaults-186-billion-debt-saddling-employers-expense

Many Blessings,

Ai3D

DINARRECAPS8 5/7/23 DINARRECAPS8 5/7/23

Iraqi News Highlights Sunday Evening 5-7-23

Tlm724 Administrator Bondlady’s Corner

Iraq Ranked Fourth In Its Exports To America During The Past Month

Sunday 07 May 2023 09:31 | Economical Number of readings: 399 Baghdad / NINA / - The US Energy Information Administration announced that Iraq's oil exports to America amounted to about 6 million barrels last April.

The administration said in its table: “Iraq exported crude oil to America during the month of April last 5.940 million barrels, an average of 198 thousand barrels per day, down from the month of March, in which Iraqi oil exports to America amounted to 7.533 million barrels, and an average of 243

Iraqi News Highlights Sunday Evening 5-7-23

Tlm724 Administrator Bondlady’s Corner

Iraq Ranked Fourth In Its Exports To America During The Past Month

She added, "Iraq exported crude oil to America during the first week of April at an average of 241,000 barrels per day, while its average export was 180,000 barrels per day in the second week, and an average of 222,000 barrels per day in the third week," noting that The average of exports for the fourth week amounted to 148,000 barrels per day.

The US Energy Information Administration stated that "Iraq ranked fourth in its exports to America during the past month after Canada, Mexico and Saudi Arabia, and ranked second in the Arab world after Saudi Arabia, whose exports to America amounted to 10 million barrels and 140,000 barrels per day," indicating that "Canada came It ranked first as the most oil-exporting country to America, followed by Mexico.”/ https://ninanews.com/Website/News/Details?key=1051719

A slight decline in dollar prices in Baghdad with the closing of the stock market

Economy Sunday, May 7, 2023 Baghdad / The National News Center The exchange rates of the US dollar decreased against the Iraqi dinar, today, Sunday, 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 144,200 Iraqi dinars for 100 dollars, while the prices this morning were 144,400 dinars for 100 dollars."

He added, "The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 144,500 Iraqi dinars, while the purchase prices amounted to 143,000 dinars per 100 dollars." https://nnciraq.com/204029/

The Minister Of Planning And The Representative Of The United Nations Fund Discuss Joint Cooperation And Support For The Ministry's Efforts To Implement The Population Census

Sunday 07 May 2023 15:43 | Economical Number of readings: 176 Baghdad / NINA / - The Minister of Planning, Muhammad Ali Tamim, discussed today, Sunday, with the representative of the United Nations Fund, joint cooperation and support for the ministry's efforts to implement the population census.

The Ministry of Planning said in a statement, "The Minister of Planning, Muhammad Ali Tamim, met with the representative of the United Nations Population Fund in Iraq (Nester Omohangi), and his accompanying delegation.

It explained, "During the meeting, they discussed aspects of joint cooperation between the two sides in many files, especially with regard to By supporting the efforts of the Ministry of Planning in implementing the general census of population and housing, and in other areas related to the fund’s competence and its role in benefiting from the expertise and capabilities of donor countries in supporting population issues, and implementing what was included in the national document for population policy to be officially launched on the seventeenth of this month.

The Minister of Planning indicated that the exceptional importance of conducting the general census of the population, and the need for the availability and concerted efforts to ensure its implementation in accordance with the approved international standards, pointing out that the implementation of this vital project is one of the priorities of the Iraqi government, and that the Prime Minister directed the creation of the environment appropriate to perform it.

For his part, Omohangi welcomed the level of cooperation shown by the Minister of Planning, expressing his organization's readiness to provide the best possible types of support to the Iraqi government, relying on advanced global methodologies in conducting the general population census, and mobilizing more support for Iraq in this field https://ninanews.com/Website/News/Details?key=1051816

Within A Month.. Iraq Achieves 17 Trillion Dinars In Financial Revenues

Economy Sunday, May 7, 2023 10:51 am Baghdad / National News Center The Ministry of Finance issued the accounts of the Iraqi state for the month of February for the fiscal year 2023, which indicated that the volume of financial revenues amounted to more than 17 trillion dinars, while it indicated that the contribution of oil to the federal budget amounted to 96%.

And the / National News Center / continued, the data and tables issued by the Ministry of Finance in the current month of May for the accounts of last February of the year 2023, which showed that oil is still the main resource for Iraq’s general budget, as it reached 96%, which indicates that the rentier economy is the basis in Iraq's general budget.

And through the financial tables, it showed that “total revenues until January amounted to 17 trillion, 668 billion, 982 million, 693 thousand, and 586 dinars, after excluding from them the transfer revenues amounting to 2 trillion, 233 billion, 629 million, and 735 thousand dinars, indicating that the total expenditures With advances, it amounted to 15 trillion, 923 billion, 515 million, and 419 thousand dinars.

According to the finance table, “oil revenues amounted to 19 trillion, 207 billion, 539 million, 763 thousand, and 376 dinars, which constitute 96% of the general budget, while non-oil revenues amounted to 695 billion and 72 million and 665 thousand dinars.” https://nnciraq.com/203927/

Low Central Bank Sales Of Foreign Currency

Economy Sunday, May 7, 2023 1:02 PM Baghdad / National News Center Today, Sunday, the Iraqi Central Bank's sales of foreign currency decreased slightly, to record about $180 million.

According to the schedule of the currency sale window, affiliated with the National News Center, the Central Bank sold during its auction today 180,151,132 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.

critically. Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $131,651,132 million, while the remaining $48,500,000 million went in the form of cash sales. https://nnciraq.com/203977/

Oil Announces The Second Batch Of POS Stations

Economy Sunday, May 7, 2023 Baghdad / National News Center Tday, Sunday, the Ministry of Oil announced the second batch of stations operating with the POS electronic payment system.

And the ministry stated, in a statement received by the National News Center, that “the Ministry of Oil announces the second batch of stations operating with the POS electronic payment system.”

And she added that "the second meal includes four stations on both sides of Karkh and Rusafa," noting that "on the Rusafa side, the Abu Qalam station and the Palestine station will be, and on the Karkh side, it will be the Saydia station and the Mansour station."

Last April, the Ministry of Oil announced the practical launch of the electronic payment service at gas stations in Baghdad https://nnciraq.com/203944/

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

https://www.bondladyscorner.com/