Tuesday Morning Iraq Economic News Highlights 5-30-23

Tuesday Morning Iraq Economic News Highlights 5-30-23

About 30 Billion Dollars Iraq's Oil Revenues Within 4 Months

Energy   Economy News _ Baghdad  Today, Tuesday, the Iraqi Oil Marketing Company (SOMO) announced that oil revenues in the first third of this year 2023 amounted to about $30 billion.

Al-Eqtisad News reviewed the company's tables, which showed that "the total oil exports for the first third of the current year 2023 amounted to 393 million 48 thousand and 679 barrels of oil." It also showed that "the monthly export rate amounted to 98 million 262 thousand barrels, at a rate of 3 million." And 275,000 barrels per day.

According to those tables, “the revenues generated from its sales of crude oil amounted to 29,932,167,000 dollars, at a rate of 7,483,41,000 dollars per month,” noting that “the average monthly selling price of crude oil for the first third of this year amounted to 76.” One dollar and 173 cents.

According to the company's schedules, "the rate of oil exports from the ports of Basra amounted to 385,120,137 barrels, at a rate of 96,280,000 barrels per month, at a rate of 3,209,000 barrels per day," while the rates of oil exports through Kirkuk were 529,953 barrels. At a rate of 176,651 barrels of oil per month, by exporting only the first three months of this year.

And the tables of the SOMO company showed that "the number of companies that bought Iraqi crude oil amounted to 36 international companies." Views 39   05/30/2023 - https://economy-news.net/content.php?id=34479

Al-Sudani Directs Banks To Adopt The Official Dollar Rate For All Pilgrims

05/30/2023 Read: 1,118 times  {Local: Al Furat News} The Hajj and Umrah Authority announced that Prime Minister Muhammad Shia Al-Sudani directed banks to adopt the official dollar rate for all pilgrims.

Today, Tuesday, the Supreme Commission for Hajj and Umrah surprised the first batch of pilgrims through Baghdad Airport, with 336 pilgrims on board.

The head of the authority, Sami Al-Masoudi, confirmed that the authority provided specialized cadres to serve the pilgrims and ensure their comfort, and was keen to ensure that the accommodation of the pilgrims is in the best areas in Medina and Makkah Al-Mukarramah, while providing meals with an Iraqi taste, announcing the support for the cost of the pilgrims with 39 billion dinars from the budget of the investment authority under the guidance of Prime Minister Muhammad Shiaa al-Sudani, as the Iraqi pilgrim has become the least expensive among the pilgrims of Arab and Islamic countries.

Al-Masoudi addressed the pilgrims with the necessity of "enjoying the rituals of Hajj and making the goal of the guest of God to perform the visit and circumambulate around the House of God and leave worldly preoccupations such as photography, launching political chants and ideological slogans, or publishing pictures of religious and political symbols."

He pointed out that "the airlifting of pilgrims will be one of the six Iraqi airports to which Kirkuk Airport has been added this year."

With regard to the dispatch of land pilgrims, Al-Masoudi announced the completion of preparations for the land dispatch, as it was agreed with the Joint Operations Command to facilitate the movement of pilgrims' buses and their security escort, and this year will witness the dispatch of land convoys from the Kurdistan region for the first time.

He added, "It was also agreed to increase the number of passport booths to speed up the dispatch process, stressing that the authority will provide hot meals and hospitality to the pilgrims at the Arar port, and prepare their overnight sites to ensure their comfort."

And Al-Masoudi announced the commission’s readiness to receive pilgrims from the courtesy granted by the Kingdom of Saudi Arabia to some Iraqi personalities outside the umbrella of the commission, and that their services be among the pilgrims of Iraq, due to its high quality of services and the price difference from commercial pilgrims in the market, which we heard amounts to $130,000. ".

The head of the authority pointed out that "the prime minister directed the banks to adopt the official dollar rate for all pilgrims."   LINK

With Reserves Of More Than 132 Tons.. Iraq Ranks 30th In World Gold Possession

Economy  |Baghdad today - Baghdad   Today, Monday, the Central Bank of Iraq announced the purchase of new quantities of gold of approximately 2.3 tons, maintaining its sequence in the 30th rank in the ranking of gold holdings for the countries of the world.

And the media office of the bank stated, in a statement received (Baghdad Today), that “new quantities of gold were purchased, approximately 2.3 tons, which resulted in an increase in its holdings of this metal by 1.79%, bringing its total to 132.74 tons, to maintain its sequence in rank 30.” Within the ranking of gold holdings for the countries of the world.

The statement added, "The Investments Department of the Central Bank of Iraq made it clear that the purchase came with the aim of increasing its holdings of gold in light of the economic and political conditions the world is witnessing . "

It is noteworthy that gold is one of the most important components of the reserves held by banks and international financial institutions, as these banks and institutions constantly increase their reserves of this metal, because of this measure’s positive impact on the financial solvency of these institutions and the creditworthiness of their countries .   LINK

The Regional Government Discusses Budget Amendments With 40 Consuls And Representatives Of Foreign Countries

2023.05.30   Baghdad - Nas The Foreign Relations Office of the Kurdistan Regional Government, consuls and foreign representative offices will discuss, on Tuesday, the changes in the draft Iraqi budget law. 

 According to the official media sources in the region, followed by "NAS", (May 30, 2023), the head of the Foreign Relations Office in Erbil, Sven Dziye, met this morning with consuls, offices and representations of countries. 

  The meeting was also attended by Omid Sabah of the Prime Minister's Office, and Jutiar Adel, spokesman for the Kurdistan Regional Government. 

The main topic of the meeting is the discussion of Articles 13 and 14 of the share of the Kurdistan region in the draft Iraqi budget law, as well as negotiations between Erbil and Baghdad about financial dues, according to those sources.    There are 40 consulates and representative offices of international organizations in the Kurdistan region.      https://www.nasnews.com/view.php?cat=108203

Parliamentary Finance calls for expediting the determination of the voting session on the budget

The first  2023/05/30  Yesterday, Monday, the Parliamentary Finance Committee called on the Presidency of Parliament to expedite setting up a voting session on the budget.

The head of the committee, Atwan Al-Atwani, said in a statement: “After discussing the draft general budget law in the Parliamentary Finance Committee, and striving to ripen it in a manner that preserves the supreme interests of the country, and guarantees the rights of our dear people alike, we call on the presidency of the honorable parliament to expedite.” In determining the voting session on the law during the current week.

Al-Atwani explained, "The committee's emphasis on the importance of speeding up the approval of the general budget is in order to initiate development plans, rehabilitate infrastructure, continue economic reform, and focus on priority projects, especially health, housing, basic services, and support for investment and the private sector."

Al-Atwani reaffirmed that this law bears great and sensitive importance related to the livelihood of the Iraqi people, and the economic, administrative and social implications of its approval.

And he continued, "We appeal to the political forces to overcome their differences and work in a patriotic spirit in order to achieve this merit, in implementation of the covenant that the parliament and the people's representatives made on themselves to serve the nation, and to strive to pass legislation and laws that are in the interest of the citizen."   https://alsabaah.iq/77931-.html

The Budget Ignites Disputes... And The State Administration Coalition Is "Dying And Threatened With Collapse"

Policy | Baghdad today - Baghdad   The federal budget bill has sparked disputes between the political blocs, destabilizing the political process that resulted in the state administration coalition, which is going through a "dying" stage and may be in danger of collapsing.

And between supporters and opponents of the draft federal budget law, and between northern and southern Iraq, voices began to rise to demand "fairness and rights."

Where the deputies of the southern provinces called for fairness in their provinces, similar to the budget of the Kurdistan region, while the independents sharpened their resolve, in preparation for refusing to vote on the federal budget.

Independent MP Haitham Al-Fahd Al-Zargani said in a statement received by (Baghdad Today) that "with the approaching date of the voting session on the budget, we are working to create an opinion in Parliament and not to vote on paragraphs that do not do justice to the governorates of the center, the south, and Basra in particular."

For its part, "The New Arab" network revealed that the Iraqi Kurdistan government "deliberately" obstructed passing the budget law as a result of its refusal of items that impose new conditions on it, including the payment of arrears of its employees' salaries.

The Kurdistan Regional Government promised the amendments made by the Parliamentary Finance to the budget regarding the paragraphs of the region, unfair and contrary to the constitution, while the head of the regional government described it as "treason and conspiracy against the Kurdistan region."

The regional presidency confirmed that it would not abide by these amendments that contradict the political agreement to form the government of Prime Minister Muhammad Shia al-Sudani, as well as the Baghdad and Erbil agreement signed with al-Sudani.

The researcher in political affairs, Ihsan Al-Shammari, confirmed today, Tuesday, that the differences between the political forces over the budget law threaten the collapse of the state administration alliance.

Al-Shammari told (Baghdad Today) that "the new dispute over the budget law will have an impact on the state administration coalition, especially since this alliance suffers from major internal disputes, and it is currently in a moment of political death."

He added, "We believe that we are now the beginning of the end for the state administration coalition and the end of the stage of political agreements, and this will push towards the existence of new political alignments."

In order to avoid the differences that cast a shadow over the political agreement of the State Administration Alliance that resulted in Al-Sudani, the State Administration Alliance held a meeting at the house of the leader of the Kurdistan Democratic Party, Fuad Hussein, to discuss the region's share in the federal budget.

An informed source told (Baghdad Today) that "the regional government authorized Hussein to negotiate from the side of the region, while the Secretary-General of the Badr Organization, Hadi al-Amiri, will be the representative of the coordination framework."

He added, "The Patriotic Union of Kurdistan and the Kurdistan Democratic Party agreed to cancel the clause that the regional government pays 10% of the salaries saved for employees in the region, which is the paragraph that was added by the Finance Committee to the Budget Law in Article 13 and objected to by the regional government." 

Last Saturday, the House of Representatives failed to hold a special session to vote on the draft financial budget law for the year 2023, due to the addition of paragraphs by the Parliamentary Finance Committee, which the Kurdish political forces considered to be inconsistent with the political agreements on which the Sudanese were formed, and which relate to the oil of the Kurdistan region. LINK

Iraqi News Highlights Monday Evening 5-29-23

Iraqi News Highlights Monday Evening 5-29-23

Tlm724 Administrator Bondlady’s Corner

An American Agreement Raises Global Oil Prices

Economy| 08:43 - 05/29/2023  Follow-up - Mawazine News  Oil prices rose on Monday after US leaders reached a tentative agreement on a debt ceiling, although gains were limited by concerns about raising interest rates.  Brent crude futures rose 54 cents, or 0.7 percent, to $ 77.49 a barrel by 04:37 GMT, while US West Texas Intermediate crude recorded $ 73.29 a barrel, up 62 cents, or 0.85 percent.. Reaching the deal and approaching avoided default Paying off US debt has renewed investor appetite for riskier assets such as commodities. Ended   https://www.mawazin.net/Details.aspx?jimare=227890

Iraq And The International Monetary Fund Are Discussing Plans For The Pension Authority In Administrative And Financial Reform

Economy| 08:59 - 05/29/2023   Baghdad - Mawazine News   The Pension Authority and the State Employees Pension Fund discussed with the International Monetary Fund in Amman the plans of the Pension Authority in administrative and financial reform.

A statement by the Pension Authority stated, "The head of the Pension Authority, Maher Hussein Rashid, and the Director General of the Pension Fund, Haider Jassim Hamzah, attended the periodic meeting called for by the International Monetary Fund to discuss the progress made for the retirement sector in Iraq and to listen to the plans of the Pension Authority with regard to administrative and financial reform." .

The statement added that the Chairman of the Pension Authority reviewed "the vision and mission of the Authority and the State Employees Pension Fund, the strategic priorities for the coming years, and the most important problems and obstacles that the Authority seeks to address."

Representatives of the International Monetary Fund, according to the statement, expressed their "satisfaction with the strategic priorities, which represent a clear road map that can be translated into work programs with specific timelines in order to achieve financial sustainability." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=227891

Iraq Between The Silk Road And The Road Of Development

Dr.. Bilal Khalifa  Part One: The Silk Road and the Belt   For several years, China has been seeking to restore the glory of the Silk Road, but this time not for the silk trade, but for the establishment of an economic alliance that extends on several tracks extending from China in the east to Europe via Russia and through Iran and Turkey and also to Africa towards the west.

The goal at its inception is economic (commercial only), but behind it are political purposes and the formation of a new global axis against the American western axis, as well as replacing the current system with another that writes with eastern fingers.

Years ago, I began to lay blocks in the edifice of the axis, including alliances, including Shanghai and BRICS, and other economic ones such as the Shanghai Stock Exchange of Petroyuan and the system A financial transfer as an alternative to Western Swift, as well as the establishment of the Asian Bank, which is opposite the World Bank.

The Silk Road shortcut is a new global alliance wrapped in an economic framework that includes countries that disagree with the American Western axis or countries that have been wronged by the West and want to be liberated from its control.

But does the Silk Road pass through Iraq?

The above words made it clear to us that the Silk Road is an economic alliance outwardly, but inside it is a political alliance and it could turn into a military one in the future (it takes a long time).

1- In the event that the road is material and economic

That is, the road is a path for ships, trains, or trucks. Two roads can pass through Iraq, namely:

The first: via Diyala coming from the Islamic Republic heading to Turkey or Syria.

The second is from the south: there are two possibilities:

The first possibility: From the port of Faw, but here the obstacle of the State of Kuwait appears because it owns the port of Mubarak Al-Kabeer and as it is a major member of the Asian Bank, which is the official sponsor of the Silk Road, while Iraq is a dialogue member, meaning that it does not have a decision within the bank, and therefore the opinion of Kuwait is given priority to China over the opinion of Iraq However, goods that exceed the capacity of Al-Mubarak Al-Kabeer Port may come to Al-Faw Port.

The second possibility, which is more likely, is that Iraq is a passage for goods that come from Kuwait, Saudi Arabia, or the UAE, especially since the UAE has the infrastructure ready to receive, load and unload goods, of which Iraq does not own anything.

As for Saudi Arabia, it has entered into alliances with China, and therefore it is possible The goods route is from the ports of Saudi Arabia or the Emirates, and then passes through Iraq to Turkey and Europe.

2- In the event that the road is a non-material political and economic alliance

The Silk Road, as we said earlier, is an economic alliance at its inception, which will turn into a political and then a military alliance. Therefore, Iraq is very important in this map, as it has a great place in the global energy centers, as Iraq occupies the third place in supplying oil to China and first in supplying oil to India, and therefore that The eastern axis is very important for Iraq, which depends for most of its oil revenues on the East, which occupies 90% of its public revenues. Therefore, if China and India replaced Iraqi oil with oil from other countries, this means that Iraq will not be able to pay a quarter of the salaries of its employees.

Therefore, the road and the belt are important to China and also important to Iraq.

Part Two: The Road to Development

The essence of the development road is to build a path consisting of a road for trucks and another railway from the south and extends to the north and then Turkey, and according to the claim of those in charge of it that the road starts from the port of Fao, i.e. the unloading is in it, and here we have the right to ask the following questions

1- The port was not completed, and I believe that it is not completed due to external interventions that were mentioned above. Even if it is completed, its capacity is small compared to the ports of neighboring countries and the region, including Saudi Arabia and the UAE.

2- Iraq is politically and security unstable, and this is the reason for the delay in Iraq joining the eastern alliances, including Al-Harir. As we know that capital is cowardly and therefore merchants cannot risk passing through unstable areas.

3- Iraq was unable to protect the old train from the stones of children and from the construction on its tracks, so how can it secure a road through which materials for foreign countries pass, and we have experiences with foreign oil companies.

They cut off the road for companies to rent their cars and give contracts to their companies. Some of them even liked it and said (I throw two shots in the air and then earn what I want).

4- There is no financial allocation in the budget for the road, so where is it being funded?

5- The road does not contain laboratories, because the laboratories and factories announced by the government are two, and they are the petrochemical project, which is very old, and the other is the Al-Faw refinery, which is also old, and therefore there are no factories or support for the industry in the way of development.

6- Iraq in terms of development is only a path that will have two advantages

A- Transit fares for goods

B- There are rest stations such as restaurants, gas stations, and maintenance stations, and these stations have been given in advance as an entitlement (quota) to the influential parties.

7- Iraq has failed in all its projects except in which it relied on foreign companies such as oil, and this paragraph, despite its advantages in terms of quality of work, is very high, and the budget costs a lot. For example, oil companies take up to ten billion dollars annually as operating costs and profits.

8- The road will be operated from the north, meaning that the road will serve the region first, and then the region will take transit on it as it acts as an independent state.

9- The crossing with the north will be under the control of the region, and therefore the revenues will be for the region, and Iraq will not benefit from it.

Part three: the difference between them

1- The two are similar in that Iraq will be a passage for goods, but silk has promises (and this is not fixed).

2- Silk means that the direction and alliance is with the new emerging powers inevitably, which is the axis of Shanghai and BRICS led by China and Russia. As for the path of development, it is blocking the path to alliance with the East and replacing it with countries allied with the West, which are Arab countries.

3- Investment by neighboring countries involves political and security risks, and the path of development is through investment from neighboring countries, which is proposed to be nine countries.

4- The path of development has something strange in it. The advisory body for the project is an Italian company, and the advisory body for ports is also Italian. It excluded Chinese companies and replaced them with Korean ones that are owned by Western companies. This is suspicious, especially since its competence is far from transportation.

Views 47   05/29/2023 - 5:21 PM   https://economy-news.net/content.php?id=34468

The Central Bank Discusses The Electronic Collection Project Via POS Devices

May 29, 2023  The Central Bank of Iraq discussed in the activities of the annual Iraqi banking conference organized by the Association of Private Banks, the project of electronic taxation and collection through POS devices.

 The workshop, which was held in Baghdad, clarified the work mechanisms for launching and collecting money electronically, according to the Iraqi Council of Ministers Resolution No. (23044) for the year 2023, which will enter into force in early June of this year, while the Central Bank of Iraq confirmed that the necessary infrastructure is available with the best international specifications.

As in the process of licensing companies and ensuring their technical and security capabilities.

Central Bank of Iraq   Information Office  29 - May – 2023  https://cbi.iq/news/view/2346

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

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Iraqi News Highlights Monday Afternoon 5-29-23

Iraqi News Highlights Monday Afternoon 5-29-23

Tlm724 Administrator Bondlady’s Corner

Ministry Of Interior: We Will Launch Campaigns To Hold Accountable Those Who Deal In Dollars Instead Of Dinars

Today, Monday, the Ministry of Interior confirmed that the government issued directives regarding dealing in dollars instead of dinars, while setting a date for launching a campaign to hold violators accountable.   "Higher directives were issued by the government with the need to implement broad awareness and education campaigns regarding dealing in other than the national currency," the ministry's spokesman, Major General Khaled al-Muhanna, told the Iraqi News Agency.

He added, "According to the laws, it is forbidden to trade in other than the Iraqi national currency," noting that "the last period, non-Iraqi currencies were traded in the local markets, because the country went through different periods and crises."

He pointed out, "Trading in non-national currency occurs in countries that suffer from economic problems," noting that "Iraq's economy began to consolidate, and the dinar proved its presence during the last period."

He stressed, "The need for citizens to support the national currency," pointing out that, "The ministry has started awareness campaigns for all citizens, and after that it will launch campaigns to hold violators accountable."   https://www.radionawa.com/all-detail.aspx?jimare=34519

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

Monday 29, May 2023 10:45 | Economical Number of readings: 396

Baghdad / NINA / - The exchange rates of the US dollar against the Iraqi dinar rose today, Monday, on the main stock exchange in the capital, Baghdad.

The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded this morning an exchange rate of 146,600 Iraqi dinars against 100 US dollars.

While the selling price in exchange shops in the local markets in Baghdad was recorded at 147,500 dinars per 100 US dollars, and the purchase price was 145,500 dinars per 100 dollars./ End

https://ninanews.com/Website/News/Details?key=1056384

The Iraqi Central Bank’s Sales Of Foreign Currency Decreased Today

Monday 29, May 2023 11:40 | Economical Number of readings: 302  Baghdad / NINA / - The Central Bank of Iraq's sales of foreign currency decreased today, Monday, recording $254 million.

According to the schedule of the currency sale window, the Central Bank sold during its auction today 254,085,560 dollars, which the bank covered at an exchange rate of 1305 dinars per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for foreign transfers, and at a price of 1310 dinars per dollar in cash.

Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to $227,235,560, while the rest of $26,850,000 went in the form of cash sales./ End 8

https://ninanews.com/Website/News/Details?key=1056395

Al-Hakim From The Headquarters Of The Iraqi Embassy In Cairo: Iraq Is Experiencing An Unprecedented State Of Security, Economic, Social And Political Stability

Monday 29, May 2023 16:51 | political Number of readings: 205  Baghdad / NINA / - The head of the National Wisdom Movement, Ammar al-Hakim, affirmed that Iraq is experiencing an unprecedented state of stability, security, economic, social and political.

In a press conference held at the headquarters of the Iraqi embassy in Cairo, Al-Hakim pointed out: Iraq's pride in neighboring Egypt and its historical roles, stressing that Iraq is experiencing an unprecedented security, economic, social and political state of stability because the state administration coalition represents an incubator for the current government.

He explained that there is a desire to open up to Iraq and develop relations with it, as well as a regional and international desire for its stability.

Al-Hakim renewed the call for a five-way alliance that includes the major countries in the region (Iraq, Egypt, Saudi Arabia, Iran and Turkey) on the basis of political and economic cooperation and achieving development and the interests of the peoples of the region, as development is a basic entry point for achieving the interests of the countries of the region.

Al-Hakim called for the integration of roles between the Al-Azhar Al-Sharif Foundation and Al-Najaf Al-Ashraf, because they represent a line of moderation and tolerance, expressing his happiness for the visit of the Grand Imam to Iraq at any time, stressing that it will serve the region and its people because of its impact on the religious and social level.

Al-Hakim indicated that there is a serious will to develop relations between Iraq and Egypt and turn this will into serious steps, expressing his hope that the upcoming meetings of the bilateral committee will come out in a way that serves and enhances the interests of the two countries and the two brotherly peoples./ End     https://ninanews.com/Website/News/Details?key=1056480

An Economist Told NINA: Opening A Window To Receive Farmers' Deposits In Dinars Will Contribute To Reassuring Them And Preserving The Local Currency

Monday 29, May 2023 11:10 | Economical Number of readings: 319  Baghdad / NINA / - The economist, Safwan Qusai, called for opening a window to receive and receive farmers' deposits in Iraqi dinars, in exchange for linking them to the dollar in the parallel market, to hedge against any fluctuation in the value of the dinar later.

Qusai said in a statement to the National Iraqi News Agency ( NINA ): "It is clear that the fluctuation of the value of the Iraqi dinar in the parallel market has led to a kind of anxiety among those who hold the dinar, especially the farmers, some of whom fear the weakness or fluctuation of the value of the dinar later."

He called for opening a window to receive and receive farmers' deposits in Iraqi dinars in return for linking them to the dollar in the parallel market, so that any fluctuation in the value of the dinar later could compensate the owner of the dinar by the amount of decline.

And he pointed out, “With this procedure, we create a kind of reassurance for those who hold the Iraqi dinar, because the value of the dinar is preserved and is not exposed to any threat as a result of these transactions,” stressing: “The Iraqi banks opening a hedge window with the value of the Iraqi dinar will contribute to increasing reassurance and keeping the dinar away.”

 About converting to other currencies, and there could also be a review of the interest for these deposits in order to encourage the farmer to deal and keep the dinars during this stage. https://ninanews.com/Website/News/Details?Key=1056390

An Economist Points Out The Importance Of The Saudi Economy Entering Into A Complex Relationship With The Iraqi Market

Monday 29, May 2023 12:06 | Economical Number of readings: 349   Baghdad / NINA / - The economic expert, Raad Twij, confirmed: "The entry of the Saudi economy into an intertwined relationship with the Iraqi market will contribute to giving additional values ​​and benefits to economists and the freedom of transfer of production factors between the two countries."

"The Iraqi-Saudi economic relations are escalating according to a comprehensive vision of relations between the two countries within the framework of the Iraqi-Saudi Coordination Council, which constitutes an Iraqi-Saudi economic and political grouping," Twigg said in a statement to the National Iraqi News Agency (NINA) .

He added: "These relations can activate the enormous Iraqi and Saudi financial and human economic energies, within the framework of the economic geography, which is wider even than the economic geography of the Gulf Cooperation Council, as the entry of the Saudi economy into an intertwined relationship with the Iraqi market will contribute to giving additional values​​and benefits to economists." And free movement of factors of production between the two brotherly countries in terms of trade, tourism, investment, production and education.

Twigg continued: "The Iraqi-Saudi cooperation will link the economies of other countries with the economies of the two countries, especially with the imminent establishment of the development road and the opening of a center for Saudi companies in Baghdad and the exploration of investment opportunities in Iraq, which will stimulate Iraq to improve its investment environment."/ End

https://ninanews.com/Website/News/Details?Key=1056401

The IMF expresses its "satisfaction" with the strategic priorities of the Iraqi Retirement Authority

Money  and business  Economy News – Baghdad  The Pension Authority and the State Employees Pension Fund discussed with the International Monetary Fund in Amman the Pension Authority's plans for administrative and financial reform.

A statement by the Pension Authority stated, "The head of the Pension Authority, Maher Hussein Rashid, and the Director General of the Pension Fund, Haider Jassim Hamzah, attended the periodic meeting called for by the International Monetary Fund to discuss the progress made for the retirement sector in Iraq and to listen to the plans of the Pension Authority with regard to administrative and financial reform." .

The statement added that the Chairman of the Pension Authority reviewed "the vision and mission of the Authority and the State Employees Pension Fund, the strategic priorities for the coming years, and the most important problems and obstacles that the Authority seeks to address."

Representatives of the International Monetary Fund, according to the statement, expressed their "satisfaction with the strategic priorities, which represent a clear road map that can be translated into work programs with specific timelines in order to achieve financial sustainability."

Views 162  Added 05/29/2023 - 8:57 AM  https://economy-news.net/content.php?id=34455

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Goldilocks " The Time of a Great Reckoning is at Hand" 5-29-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

Good morning Dinar Recaps,

Happy Memorial Day!  Goldilocks posted some news articles and comments:

Today is Memorial Day. It is a day that we set aside to remember those who have given their lives to our country.

Their sacrifice has given us the freedoms we enjoy in our country, and their bravery is honor of being praised.

We are living in a time when another group of soldiers are being called upon to build on their bravery. Many of our freedoms have been taken away from us these last few years, and we are once again being called on to fight for them.

Some of our soldiers are arming themselves for a great battle that is set before us. A great transfer of power and wealth is in jeopardy, and many people are arming themselves to level the playing field.

This past week, $30,000,000,000.00 have been withdrawn from our banks by depositors preparing themselves for battle.

As the old guard meets the new guard at the gate, the time of a great reckoning is at hand as we open the gate into this brave New World.

We come to it with resources we have not utilized before. We are arming ourselves with gold, silver and digital assets for the path ahead.

Many will fall in the journey ahead, and others will rise to take up arms to defend that right many of our soldiers fought for throughout the years.

May God be with each and every one of us today as we pledge inside our hearts to save what has been given to us.

There will be casualties of War among us, but those who have prepared well for this journey will mount up like the wings of an eagle and reach heights within ourselves only our souls can travel.

In this place, we will become one with those who have gone before us and fought for the right to simply live in peace.

© Goldilocks

https://dailyhodl.com/2023/05/27/30000000000-exits-us-banking-system-in-one-week-as-deposit-flight-grows/

~~~~~~~~~~

In early June, Iraq is going to launch their point-of-sale electronic mechanisms.

This article is about a conference held in Baghdad to explain this process to those in attendance.

A point-of-sale will secure monetary transactions on both sides of a trade locally and abroad.

These new mechanisms are Internationally designed and secured for processing.

About a month ago, Dee and I shared with you what our CBI Banker contact had mentioned about them moving into the QFS in June.

Well, June is just a few days away.

© Goldilocks

https://cbi.iq/news/view/2346

~~~~~~~~~~

Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

"Tidbits From TNT" Monday 5-29-2023

TNT:

Tishwash:  Thursday.. the start of electronic payment in Iraq

Governmental and private banks and electronic payment companies are preparing to generalize the experience of the electronic payment system and to publish POS devices in government and private institutions, shops and commercial shopping centers.

And according to an informed source of {Euphrates News} agency, "the electronic payment will be activated in the government collection of funds in many ministries and other government agencies and the private sector."

He pointed out that "the Cabinet's decision to implement the electronic payment system will enter into force on 6/1/2023, i.e. after three days."   link

Tishwash:  Restricting dealings in dinars.. Government directives to support the national currency and hold violators accountable

The Ministry of Interior confirmed, on Monday, that the government issued directives regarding dealing in dollars instead of dinars, while setting a date for launching a campaign to hold violators accountable.  

The ministry's spokesman, Major General Khaled Al-Muhanna, said in a statement to the official agency, followed by "NAS" (May 29, 2023), that "higher directives were issued by the government regarding the need to implement broad awareness and education campaigns regarding dealing in other than the national currency."  

He added, "According to the laws, it is forbidden to trade in other than the Iraqi national currency," noting that "the last period, non-Iraqi currencies were traded in the local markets, because the country went through different periods and crises."  

He pointed out, "Trading in non-national currency occurs in countries that suffer from economic problems," noting that "Iraq's economy began to consolidate, and the dinar proved its presence during the last period."  

He stressed, "The need for citizens to support the national currency," pointing out that, "The ministry has started awareness campaigns for all citizens, and after that it will launch campaigns to hold violators accountable."     link

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Tishwash:  Iraq raises its gold reserves by 2% to 132.73 tons

The Central Bank of Iraq boosted its gold reserves by about 2% in one day last week, as part of what it calls a gradual plan to stockpile the precious metal, which is seen as a traditional haven in times of economic crisis.

"Iraq bought 2.5 tons of bullion on Thursday, bringing its reserves to 132.73 tons," said Mazen Sabah, director general of the Central Bank's Investments Department, in an interview in Baghdad.

He added, "The strategy is to get more gold in the second half of the year."
He continued, "Our current plan is to buy small quantities several times, not a large amount at once."

The Central Bank of Iraq boosted its gold reserves by about 2% in one day last week, as part of what it calls a gradual plan to stockpile the precious metal, which is seen as a traditional haven in times of economic crisis.

"Iraq bought 2.5 tons of bullion on Thursday, bringing its reserves to 132.73 tons," said Mazen Sabah, director general of the Central Bank's Investments Department, in an interview in Baghdad.

He added, "The strategy is to get more gold in the second half of the year."
He continued, "Our current plan is to buy small quantities several times, not a large amount at once."

Expand its possessions of bullion

Central banks around the world are expanding their holdings of bullion, amid mounting geopolitical and economic risks. Iraq, the second-largest oil producer in the Organization of the Petroleum Exporting Countries (OPEC), has resumed its gold purchases in 2022 after a four-year hiatus, as part of a program to diversify its nearly $100 billion in foreign assets.

The Central Bank of Iraq bought 34 tons of gold last June, a one-time increase of 35% in its holdings. The bank stores the bullion with the Bank of England and the Bank of France.
Sabah pointed out that «the Central Bank's approach is to increase its reserves of gold, whenever the price of the precious metal reaches a level that is consistent with the investment management guidelines».

Gold, which was within striking distance of a record earlier this month, posted a third consecutive weekly loss; Signs of resilience in the US economy have increased the likelihood that the Federal Reserve will continue to raise interest rates. The metal is more attractive to investors for returns when prices are low.

Demand for gold from central banks fell to 228.4 tons in the first quarter, down 40% from the previous three months, according to a report by the World Gold Council. (bloomberg) link

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CandyKissses:  After passing the budget. Oil and Gas Laws and the General Census on the Parliament Table

Information / Baghdad

MP for the State of Law Coalition, Mohammed Al-Ziyadi, revealed on Monday the start of legislation on the general census of population, oil and gas after voting on the draft federal budget law.

Al-Ziyadi said in an interview with Al-Maalouma that "the political forces have identified the priority of legislating the laws of the general census of population, oil and gas during the current session after the vote on the federal budget, because of their significant impact on the political situation in Iraq."

He added, "The oil and gas law was politically agreed upon before the approval of the government, as the State Administration Coalition agreed in principle to approve it after the completion of the passage of the general budget."

Al-Ziyadi pointed out, "The oil and gas law is strategic, as it will regulate the oil relationship between the provinces and between the federal government and between the latter and the Kurdistan region."

He pointed out that "the general population census law will also see the light after the completion of the process of approving the federal general budget."

The share of the region and some of the paragraphs related to Kurdistan are still a matter of controversy, as they have become a stumbling block in the way of completing the budget and placing it on the agenda for the purpose of voting on it.

Mot:  Listen To Lee Greenwood’s New Rendition of ‘God Bless the U.S.A.’ .........

https://www.youtube.com/watch?time_continue=194&v=SrMftm6Km3g&feature=emb_logo

Monday Morning Iraq Economic News Highlights 5-29-23

Monday Morning Iraq Economic News Highlights 5-29-23

Political   Deputy: You Will Not Pass A Budget That Robs The Rights Of The Center And The South

Today, Monday, independent MP Yasser Al-Husseini stated that he will not proceed with a budget that does not do justice to the central and southern governorates.

Al-Husseini said, “We hope that the leaders of the blocs, especially the leaders of the coordination framework, will not go too far in a political direction with regard to the budget.”

He added, "All the past years, the budget was proceeding in a politically consensual manner. As for this session, we demanded that it include real materials that guarantee all financial payments from the region."

And he added, “It is impossible to proceed in a way that robs the rights of the center and the south, or to vote on a budget that robs the rights of the center and the south, and it is impossible for the budget to pass like this.”    https://takadum-news.com/archives/166713

IRAQ BUDGET 2023 - 2025 - VOTE - WEDNESDAY

https://www.youtube.com/watch?v=wm8DMvYGZ3I

Kurdistan Puts The Stick In The Wheel To Obstruct The Passage Of The Budget

Information/Baghdad...Some Kurdish parties stood against passing the budget within the Parliamentary Finance Committee, despite the existence of a prior political agreement during which it was confirmed that the exported oil would be sold through the region through the SOMO Marketing Company, provided that the revenues are deposited in a specific bank in order to ensure that these amounts reach Baghdad in return for the region's hand over its agreed budget.

The Kurds' objection and their obstruction of the work of the Finance Committee has brought the situation back to the starting point, and despite the possibility of passing it without returning to the objectors, Baghdad still takes into account the rights of all components before proceeding with the budget legislation.

In this regard, the representative of the State of Law coalition, Asaad Muhammad, told Al-Maalouma, that “the regional government demands its share of the budget in addition to its control over the sale of oil and the revenues of the 400,000 barrels exported through Kurdistan without referring to the federal government or the oil products marketing company SOMO.” .

Chihoud added, "This is not possible, as the solution lies in flexibility and understanding in order to proceed with the budget." 

On the other hand, the former member of the Parliamentary Oil Committee, Ghaleb Muhammad Ali, stated to Al-Maalooma, “The proposals submitted for amendment by the Parliamentary Finance Committee are constitutional and directly in the interest of the Kurdish citizen, but the recent Tensions occurred as a result of the work of the Finance Committee, which was summarized in the Provision of Control over the extraction and export of oil and gas in the region.

He added, "All popular circles in the Kurdistan region are in solidarity and thank all members of the Finance Committee for showing the points and paragraphs in which the Kurdistan government exploits citizens, while the regional government worked to stand against the Committee's proposals in order to continue controlling all Kurdistan's revenues." 

On the other hand, a member of the Patriotic Union of Kurdistan, Ghiath Al-Sorji, confirmed to Al-Maalouma, “The amendments that took place within the Parliamentary Finance Committee regarding the region's budget are legal and in favor of transparency, as the The Union supports all amendments and sees in them the true guarantee for the people of the region and the receipt of salaries.”

Employees and their entitlements without delay,” adding that “the Democratic Party's objection to the budget cannot be accepted and its goal is to provoke a new crisis, and it is expected that the budget will be passed without the participation of the Democrat in the session .”

The intensity of the statements rose between deputies from the south and another from the Kurdistan region, against the backdrop of amending the articles related to the region in the budget, while Representative Youssef Al-Kalabi threatened to dismiss the second deputy speaker of Parliament, Shakhwan Abdullah.

And last Thursday, a member of the Parliamentary Finance Committee, Mustafa Sanad, revealed that the committee had voted to amend paragraphs related to the region in the budget law, while pointing out the withdrawal of the representatives of the Democratic Party bloc from the meeting. LINK

Ministry Of Interior: Government Directives Regarding Dealing In Dollars Instead Of Dinars

Monday 29, May 2023 12:37 | Economical Number of readings: 123  Baghdad / NINA / - The Ministry of Interior announced today, Monday, that the government has issued directives regarding dealing in dollars instead of dinars, while setting a date for launching a campaign to hold accountable violators.

The ministry's spokesman, Major General Khaled Al-Muhanna, told the official agency: "Higher directives were issued by the government regarding the need to implement broad awareness and education campaigns regarding dealing in other than the national currency."

He added, "According to the laws, it is forbidden to trade in other than the Iraqi national currency," noting: "The last period in which non-Iraqi currencies were traded in the local markets, because the country went through different periods and crises."

Al-Muhanna explained: "Trading in other than the national currency occurs in countries that suffer from economic problems," noting that "Iraq's economy began to hold together, and the dinar proved its presence during the last period."

And he stressed the need for citizens to support the national currency, pointing out that, "The ministry started awareness campaigns for all citizens, and after that it will launch campaigns to hold accountable violators."/ End To receive more news, subscribe to

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Ministry Of Interior: 5 Years Imprisonment For Dollar Dealers

Economy| 09:16 - 05/29/2023  Baghdad - Mawazine News  The Ministry of Interior indicated the response of the owners of commercial centers to deal in dinars instead of dollars since the launch of its campaign in this regard in the middle of this month, while confirming that the penalty for the violator is up to five years in prison.

The director of organized crime operations in the ministry, Brigadier General Hussein Al-Tamimi, said, "The ministry had already launched, in the middle of this month, in cooperation with the Central Bank, a campaign to prevent owners of markets and shops from dealing in dollars and limiting this process to dinars."

He continued, "The Directorate indicated a great response by the owners of commercial centers to deal in dinars," noting that "the campaign is still continuing in all governorates except for the Kurdistan region, through detachments that carry out inspection and monitoring campaigns in centers, commercial markets, and car showrooms."

Al-Tamimi pointed out that "there are some weak-minded people who take advantage of the discrepancy in dollar prices and their lack of commitment to the pledges that were taken from them, and accordingly all legal measures were taken against the violators of the decisions issued by the Commander-in-Chief of the Armed Forces No. 23 and 26 who obligated commercial centers and owners of car showrooms to deal in dinars instead of dollars." ".

Al-Tamimi added, in an interview with the official newspaper, "Al-Sabah", which was followed by Mawazine News, that "the penalty for the violator is up to five years in prison." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=227893

Disagreements Over The Budget Raise Doubts About The Secrets Of The Government Formation Agreement With Erbil

May 28, 2023  Baghdad / Obelisk Al-Hadath: The adoption of the Iraqi federal budget is hampered again due to a dispute over articles pertaining to the region, conducted by the Finance Committee in the Iraqi parliament, which leads to doubts about the ability of the agreements to form the government to provide an opportunity for long-term political stability.

The writer, Falah Al-Mashaal, said that five months have passed since the budget was circulated in the Council of Ministers, then three months to discuss it in the House of Representatives, then it stops with a new Shiite-Kurdish and Kurdish-Kurdish crisis, indicating that the talk is about an annual budget for the country, which means that talking about strategic projects becomes an illusion.

And he continued: The budget is drawn up by the Council of Ministers after financial and political accounts and agreements that facilitate the government’s work in implementing it and achieving its goals, then it sends it to the House of Representatives to legislate it, and if an objection or change occurs, it is returned to the Council of Ministers to make the amendment, and not to make amendments during the vote and raise controversial issues without returning to the Council of Ministers.

The writer, Ali Mared Al-Asadi, considered that the Parliamentary Finance Committee has a draft budget that includes huge financial shares that are not commensurate with the population of the region, and what is worse than that is that it is without corresponding conditions and obligations.

And he went on: The authority of the region says that these funds and the way they were formulated in the budget were added based on a political agreement, the details of which were not disclosed with Baghdad.

He said that the Parliamentary Finance Committee exercised its constitutional duty and made some minor amendments in the paragraphs related to the region to ensure that the Erbil authority pays federal debts and imports to Baghdad, and compensates employees in the northern governorates for the amounts that were deducted from their salaries in the past.

Al-Asadi considered that the amendments angered Barzani's party, which wants to maintain the loose formula in the draft budget to have a free hand in dealing with the region's employees, and to repeat the game of past years regarding the issue of delivering federal imports to Baghdad, which is no longer a secret to anyone.

The question is.. What is the relationship of the House of Representatives and the Parliamentary Finance Committee, which is entrusted with the people’s wealth, to political agreements if they violate the constitution, the law, and fair entitlements for all Iraqi governorates?!

Then why doesn't the regional authority reveal the document it signed secretly with this or that politician so that the Iraqi people can see its content?   https://almasalah.com/archives/53967

A Deputy Denounces The "Allegations" Of The Finance Committee: There Is No Budget Deficit!

Economy  |Today, Baghdad today – Baghdad  Today, Sunday, independent MP Kazem Al-Touki refuted statements about the existence of a real fiscal deficit in the 2023 budget.

Al-Touki said, to (Baghdad Today), that "the budget law was prepared on the first month of the year, and its approval and implementation of this law will be at the end of the sixth month, and for this financial deficit will be in the law only an estimated and imaginary number and there is no real deficit."

And he indicated that "the budget law will be free from any deficit, and borrowing has not been done in order to work on the budget items, especially since the large financial allocations in the budget are for paying salaries."

Al-Touki confirmed that all employees' salaries are insured and there are no fears of any real financial deficit during the current year.

Earlier, the Parliamentary Finance Committee confirmed that it is working to reduce the deficit in the 2023 budget by reducing expenditures, while it indicated that it is going towards reducing it in real terms by searching for unnecessary operational and investment expenses and deleting them.

And she pointed out that it "will put in place a mechanism to reduce high operating expenses in a way that does not affect the volume of services provided to the citizen, nor the government program." LINK

A Deputy Calls For Approving A Budget That Does Justice To Everyone And Adheres To The Constitution

Economy   2023/05/29  Number of readings: 153 Baghdad-Iraq Today:  Representative Burhan Al-Mamouri calling on all political forces to preserve the rights of all governorates without discrimination, distribute wealth fairly, and adhere to the articles of the constitution in approving the budget.

Al-Mamouri said in a statement, “The Iraqi people are impatiently waiting for the parliament to approve the general budget, as it relates to the fate of large segments of society, and the majority of strategic projects depend on it to develop the reality in all regions of the country, which makes it our highest priority in parliamentary work, as its delay causes more suffering for all citizens.

He added, "All political forces must preserve the rights of all provinces without discrimination, distribute wealth fairly, adhere to the articles of the Iraqi constitution and the decisions of the Federal Court, respect the legislative institution and the laws issued by it, and set aside all political problems and remove them from the budget, given that they are directly related to the interest of the people.” General".

And he continued, "The problems that occur between the central and regional governments, which have always accompanied the general budget discussions, are the same ones that arose since the adoption of the constitution and formed with the formation of the first government, and they are the previous ones." Accumulations that are transferred from one government to another, and its negative results are reflected only on all citizens from the north.” Iraq to its south and from east to west.

He pointed out that "everyone should put the supreme interest of the country before their eyes and not deviate from the constitutional path and respect the decisions of the Federal Court and adhere to the decision of the International Commercial Arbitration Court in Paris, which ruled earlier that The Iraqi Oil Marketing Company (SOMO) is the only entity authorized to manage oil export operations from Kurdistan region via Turkey.

And he indicated, “The work and effort that the Parliamentary Finance Committee is doing deserves thanks and appreciation, in addition to that today it is entrusted before God, before the people, before history, and before the oaths they took to preserve the country's wealth and not allow it to be subject to divisions and understandings, as it is responsible for every Iraqi dinar included in the budget.” It is their responsibility to distribute the people's money equally to everyone."

He said: “The political leaders who agreed to form the government and made concessions to each other and concluded a political agreement (political concessions during the formation of the government) must take into account the other political forces that are far from temporary agreements, which are a transfer of accumulated problems to an unknown time." .

He pointed out that "the political forces are well aware that the agreement concluded between them is for a specific interest and is not valid for a long-term time, as after the formation of the government was completed, differences began to appear from here and there is between the agreed parties, knowing that this agreement has many problems.” However, they went ahead with their agreement to form the government.

He added, "We affirm that all Iraqis are equal in rights and duties, and just as we are looking for justice and fairness for all of our people, we will not allow the livelihood of our people in the region to be compromised, as they are the same as our people throughout the country.Affected cities and provinces in the east, west and south of the country.

And he stressed, "The need for the budget to include a fair and equitable distribution of the country's wealth to all provinces without favoring one province over another, and to include paragraphs that guarantee addressing the problems of the segments of society that have been subjected to injustice and injustice in previous years, putting all differences aside, and expediting a session of the House of Representatives to read and vote on it.” LINK

Iraqi News Highlights Sunday Evening 5-28-23

Iraqi News Highlights Sunday Evening 5-28-23

Tlm724 Administrator Bondlady’s Corner

A slight increase in the exchange rate of the dollar on the local stock exchange

Sunday 28 May 2023 11:02 | Economical Number of readings: 465  Baghdad / NINA / - The exchange rate of the dollar recorded a slight increase in the local stock market today.

The purchase price of the dollar reached 146,000 dinars per hundred dollars, while the selling price reached 147,000 dinars per hundred dollars.. https://ninanews.com/Website/News/Details?key=1056160

Decrease In Iraqi Oil Exports To America Last Week

Sunday 28 May 2023 09:32 | Economical Number of readings: 437

Baghdad / NINA / - The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America decreased for the second week in a row, to reach an average of 136 thousand barrels per day during the past week.

According to a schedule issued by the administration, that “Iraq’s oil exports to America amounted to an average of 136,000 barrels per day last week, decreasing by 38,000 barrels as a daily average from the previous week, in which oil exports to America amounted to an average of 174,000 barrels per day.”

The administration indicated that “most of America’s oil revenues during the past week came from Canada, followed by Mexico, and then Saudi Arabia.”

According to the table, “the amount of US imports of crude oil from Brazil amounted to 175,000 barrels per day, from Nigeria at a rate of 77,000 barrels, and from Ecuador at a rate of 71,000 barrels, while it did not import any quantity from Russia or Libya.”/ https://ninanews.com/Website/News/Details?key=1056135

Currency Auction.. The Central Bank Sells More Than 258 Million Dollars

Economy   Sunday, May 28, 2023 Baghdad / National News Center  Today, Sunday, the Central Bank of Iraq announced dollar window sales on the first day of the week.   Currency auction.. The central bank sells more than 258 million dollars    https://nnciraq.com/207890/

The Governor Of The Central Bank Announces The Establishment Of A Riyada Bank For Development And A Center For Finance And Business 

May 27, 2023   Today, Saturday, the Governor of the Central Bank of Iraq, Professor Ali Mohsen Al-Alaq, announced the establishment of the Riyada Bank for Social Development, and

the new bank will work to support the segments of Iraqi society, pointing out that

the bank has social and economic dimensions, and

the Central Bank of Iraq will provide the necessary support through various initiatives to make this project a success.

On the sidelines of the opening of the annual Iraqi banking conference organized by the Association of Private Banks, the governor said,

"The initiatives of the Central Bank of Iraq are the largest in the history of Iraq," revealing

"the completion of new projects, including the establishment of the Riyada Bank for Social Development in line with the vision and initiative of the Prime Minister in The government project (Riyada) to support youth,” stressing that

“the bank will be the first in Iraq to care for low-income people through soft loans and simple guarantees in support of the vulnerable segments, and

to diversify the non-oil economy through small and micro projects to activate the private sector and reduce unemployment and poverty rates,” noting that

"The Central Bank of Iraq put the final touches to prepare a national strategy for bank lending."      The Governor noted,"    

 He explained, "The Central Bank is working to achieve an integrated structure, rules, and sustainable policies to overcome technical challenges, information security, and cybersecurity, and implement security and privacy measures to protect users and the public's information."

   The Jordanian and Palestinian central bank governors participated in this conference, and a large presence of the Iraqi banking sector, in addition to dialogue sessions that talked about the directions of the Central Bank of Iraq in banking reform and development, in which the directors of the Central Bank of Iraq departments and the Iraqi Private Banks Association participated.

The Central Bank of Iraq,   Media Office,   May 27, 2023  https://cbi.iq/news/view/2344

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

https://www.bondladyscorner.com/

Iraqi News Highlights Sunday Afternoon 5-28-23

Iraqi News Highlights Sunday Afternoon 5-28-23

Tlm724 Administrator Bondlady’s Corner

Ministry Of Oil: Last Month's Revenues Amounted To More Than $7 Billion

Economy| 03:18 - 05/28/2023   Baghdad - Mawazine News  The Ministry of Oil announced today, Sunday, the final statistics of oil exports for the month of April and the revenues generated from them.

The ministry said in a statement, a copy of which Mawazine News received, that "the total exports of crude oil for the month of April, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), amounted to (98) million and (634) thousand and (947). ) barrels, with revenues amounting to (7) billion and (699) million and (272) thousand dollars.

And she added, "The total exported quantities of crude oil for the month of April from the oil fields in central and southern Iraq amounted to (98) million and (634) thousand and (947) barrels," noting that "the average price per barrel amounted to (78,058) dollars." .

It stated that "the exported quantities have been loaded by (36) international companies of several nationalities, from the ports of Basra, Khor al-Amaya, mono-buoys on the Gulf, the Turkish port of Ceyhan and the modern warehouse of Kirkuk."

It is noteworthy that the Ministry of Oil, through its belief in informing the people of the export operations and the revenues generated from them, took this monthly procedure. Ended 29 / M99

https://www.mawazin.net/Details.aspx?jimare=227850

Sudanese Advisor: Iraq Is One Of The Countries With Moderate Prices Compared To Other Countries

Political | 01:13 - 05/28/2023  Baghdad - Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Sunday, that Iraq is currently one of the countries with moderate prices compared to countries in the world, according to International Monetary Fund data, while revealing the percentage of support in the budget.

Saleh said, "The subsidy in the federal budget, which will remain at approximately 13% of the gross domestic product, is the important control factor assumed by fiscal policy in combating inflationary activities resulting from government spending, which constitutes about 50% of the country's GDP as well."

He added, "The subsidy mainly consists of the stability of originally subsidized fuel prices, electricity and all other basic government services, and it is no secret the important and fundamental role that monetary policy will play in controlling liquidity levels by using its quantitative and price operational objectives in controlling aggregate spending pressures or effective demand, whether by performance."

The stable exchange rate and the role of the foreign currency window in absorbing demand in the Iraqi dinar or by using financial tools launched by the central bank when needed by using the interest tool to control the money supply and target its growth degrees in the range required to stabilize the general level of prices.

He pointed out, "The combined role of monetary and fiscal policies will undoubtedly work in addressing potential inflationary pressures resulting from aggregate demand or aggregate spending in the economy, as public budget spending is the main source of demand or spending."

And Saleh continued, "According to the International Monetary Fund data, Iraq is currently one of the moderate-priced countries compared to other countries of the world," according to the official agency.

https://www.mawazin.net/Details.aspx?jimare=227843

Parliamentary Legal: It Is Hoped To Start Discussing The Oil And Gas Law After Approving The Budget

Political | 11:32 - 05/28/2023  Baghdad - Mawazine News,  a member of the Parliamentary Legal Committee, Aref Al-Hamami, confirmed today, Sunday, that the approval of the oil and gas law has become mandatory.

Al-Hamami said, "The oil and gas law was agreed upon politically before the government's approval, as the state administration coalition agreed in principle to approve the oil and gas law, in addition to the decision of the Federal Court and the International Court of Arbitration not to deliver any amount to the Kurdistan region."

Al-Hamami added, in an interview with the official news agency, that "the central government and the region are obligated to approve the oil and gas law, and it is hoped to start discussing it after the budget."   https://www.mawazin.net/Details.aspx?jimare=227840

The World Bank: The Establishment Of The Central Bank Of Iraq As A Private Bank For Very Small Projects Is A "Good Step"

Economy News – Baghdad  Director of the Finance Department in Eastern Countries at the World Bank Group, Iran Astrakhan:

- The Central Bank's establishment of a private bank for very small projects is a good step

- Such a bank was established in Europe and many countries

- A complex problem in lending and there is no magic solution

- Reforming the Iraqi banking sector means that there will be fair competition for private banks with government banks, and for the citizen to choose the appropriate service for him

- There is a review of the quality of government banks, and we do not expect government banks to disappear and their role, but rather to restructure them and work with private banks

- There is a lack of trust between the banking sector and the people, and there is a good incentive to pay employees' salaries by opening bank accounts

Financial inclusion is one of our projects

- We are working with the Central Bank to prepare a strategy for financial inclusion, and during this visit we have some projects with the private sector and the government

Views 161  Added 05/28/2023 -https://economy-news.net/content.php?id=34442

The Minister Of Commerce Confirms That The Government Is Working To Support Openness To The Regional And International Environment To Provide An Investment Environment

Sunday 28 May 2023 14:30 | Economical Number of readings: 183   Baghdad / NINA / - The Minister of Commerce, Atheer Al-Ghurairy, affirmed that "the government is working through its governmental program to support openness to the regional and international environment, and strive to provide an investment environment and establish real partnerships in various economic fields. The Ministry of Commerce said in a statement, "The Minister of Commerce, Atheer Al-Ghurairy chaired

today On Sunday, a meeting of members of the Iraqi side in the joint Iraqi-Korean committee for its ninth session to discuss a draft joint report of the Iraqi ministries and sectoral authorities, which is being prepared during the discussions with the Korean side regarding the consolidation of economic, commercial, scientific, artistic and cultural relations between the two countries, stressing that the meeting discussed preparing a working paper for the Iraqi side for the purpose of presenting it On the Korean side, in the meetings of the committee chaired by the Minister of Commerce, to be held during the next month.

The statement added, "During the meeting, views were exchanged on the proposals and observations made by the attendees for the purpose of crystallizing them and including them in the Iraqi side's paper. The statement indicated,

"The Iraqi working paper included cooperation in the fields of economic, financial, industrial, agricultural, water resources, communications, information technology, infrastructure, transportation, and planning. And reconstruction, sea and air transport, ports, civil aviation and railways, foreign, cultural, scientific, artistic and sports affairs, health, social and environmental care, electric energy, oil and investment, and other common topics for all ministries https://ninanews.com/Website/News/Details?key=1056212

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

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"Tidbits From TNT" Sunday 5-28-2023

TNT:

CandyKisses:  Airlines activate electronic payment service in its offices in Baghdad

Economy News-Baghdad

The management of the General Company of Iraqi Airways announced today, "Saturday", the start of the electronic payment service system (POS) in the company's offices to book and issue travel tickets in the capital, Baghdad, which are the offices of Al-Saadoun, Salhiya and Al-Rasheed, and they were provided with the required equipment and trained a cadre of the company's staff on ways to use them to achieve smooth work.

The general manager of the company, Manaf Abdel Moneim Ajel, said in his statement that "based on the directives of the Minister of Transport Razzaq Muhaibis Al-Saadawi and in line with government directions, this service has been adopted in these offices and is scheduled to be activated in the company's other offices as one of the modern methods in financial transactions, as it will allow the traveler to pay via local and international electronic payment cards Visa. master card, PayPal."

It is noteworthy that Iraqi Airways had activated this service in most of its foreign offices during November last year on the sidelines of the visit of His Excellency the Minister of Transport, Mr. Razzaq Muhaibis Al-Saadawi to the company's office in the Egyptian city of Cairo

Harambe:  Iraq announces plans for $17 billion transportation project linking Asia to Europe - Newsday 5/27/23 

Iraq’s prime minister on Saturday announced plans for a $17 billion regional transportation project intended to facilitate the flow of goods from Asia to Europe.

The announcement was made at a one-day conference in Baghdad that convened transport ministers and representatives from Iraq, the Gulf countries, Turkey, Iran, Syria, and Jordan.

Iraqi Prime Minister Mohammed Shia al-Sudani said the planned Development Road project would facilitate the movement of goods from the Gulf to Europe by way of the Grand Faw Port in Basra, in southern Iraq, which would be connected to Turkey, then to Europe, through a network of railways and highways.

A centerpiece of the project will be the development of the Grand Faw Port and a “smart industrial city” adjacent to it, al-Sudani said.

The planned project, which would involve the construction of about 1,200 km (about 745 miles) of railways and highways, will be “an economic lifeline and a promising opportunity for the convergence of interests, history, and cultures,” said al-Sudani, adding it will “make our countries a source for modern industries and goods.”

He did not say how the project would be financed but noted that Iraq would “rely heavily on cooperation... with brotherly and friendly nations.” 

The countries participating in Saturday's conference agreed to establish joint technical committees to move the project forward.

Iraq's relations with the Gulf countries have been strained in recent decades, as Iran-backed militias rose in prominence in Iraq in the wake of the U.S.-led invasion that toppled Saddam Hussein and opened a power vacuum in the country.

However, there have been signs of improving relations with the country's neighbors. In January, Iraq hosted the eight-nation Arabian Gulf Cup in Basra, the first international soccer tournament the country had hosted in more than four decades.

https://www.newsday.com/news/nation/iraq-announces-plans-for-17-billion-transportation-project-linking-asia-to-europe-pavpc4t0

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CandyKisses:  Central Bank of Iraq Governor announces the establishment of 'Riyada Bank' to lend to vulnerable groups

Baghdad - NAS  

The Governor of the Central Bank of Iraq, Ali Al-Alaq, announced yesterday, Saturday, the establishment of Riyada Bank to support small and medium enterprises, to be the first bank to care for low-income people and entrepreneurs through soft loans.      

The governor said on the sidelines of the opening of the annual Iraqi banking conference organized by the Association of Private Banks, that "the initiatives of the Central Bank of Iraq are the largest in the history of Iraq," revealing "the completion of new projects, including the establishment of Riyada Bank for Social Development in line with the vision and initiative of His Excellency the Prime Minister in the government project (Riyada) to support youth."  

He added that "the bank will be the first in Iraq to care for low-income people through soft loans and simple guarantees in support of vulnerable segments, and diversify the non-oil economy through small and micro projects to stimulate the private sector and reduce unemployment and poverty rates," explaining that "the Central Bank of Iraq has put the final touches to prepare a national strategy for bank lending."  

The governor noted that "the Central Bank of Iraq will launch a project to establish a financial and business center and will serve as an integrated city that includes the stock market, the business sector and financial institutions."  

Mot:  Statistics Don't Lie

Mot... Did Ya Notice!! ~~~~~

Goldilocks " A lot of "leveling the playing field" going on these days" 5-28-2023

Goldilocks and Seeds of Wisdom

Thank you RJ

RJ:  Good morning Dinar Recaps,

Goldilocks posted some news links with commentaries:

“There is a need to promote cross-border yuan settlement to make bilateral trade more efficient and boost the yuan’s internationalization process…

To be sure, cross-border trade settlement in the yuan will reduce many countries’ dependence on the US dollar.”

There is a lot of "leveling the playing field" going on these days. 

This one will go a long way to keep the dollar from being weaponized against other countries. 

The Chinese Yuan is backed by gold, and this liquidating process in the new digital economy will create another event for the "Great Transfer of Wealth." 

This is a historical event in the making and will change the world creating a point of no return. Over 40 countries are participating in this event.

© Goldilocks

DailyHodl LINK

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"The Chinese Government has unveiled a white paper intending to foster innovation and development within the web3 industry, local news outlet The Paper reported (https://www.thepaper.cn/newsDetail_forward_23250778) on May 27." 

At the same, Hong Kong is opening up their economy to retail investors on June 1, 2023. 

To give you a perspective on this shift. In 2021, China's population exceeded 1.4 billion people. Hong Kong's population exceeded 7.4 million. The US had over 331 million. 

This gives us an idea how much the new digital economy will be shifting into the hands of the population. 

Here, a "Great Transfer of Power" will "Level the Playing Field" inside a "Great Transfer of Wealth."

In other words, the Elite are getting their Technology, but the People are getting their power back.  

Now, the Age of Creativity and Entrepreneurship will be the glue that will make this Worldwide Event a success. 

© Goldilocks

Finbold LINK

SCMP LINK

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Goldilocks' Telegram Room

https://t.me/+YU9UrHLxFbszOTJh

Goldilocks on the Seeds of Wisdom Team Website

https://www.seedsofwisdomteam.com/

Thank you Dinar Recaps

Sunday Morning Iraq Economic News Highlights 5-28-23

Sunday Morning  Iraq Economic News Highlights 5-28-23

Parliamentary Confirmation Of Passing The Budget At The End Of This Week

Information / Baghdad .. Member of the Strategic Planning Committee, Souad Al-Maliki, confirmed, on Sunday, that the Finance Committee had finished resolving all the details of the federal budget, indicating that Parliament intends to vote at the end of the week on all provisions of the law.

Al-Maliki said in an interview with the information agency, “The Finance Committee is in the process of putting its final touches, and it will be sent to the Presidency of the House of Representatives in order to vote on it at the end of this week."

She added, "There are some observations that will be finalized, and as a result, a date for the parliament session will be set to proceed with the law's legislation."

She pointed out that "the Parliamentary Finance Committee is making exceptional efforts to produce and ripen the provisions of the budget bill in a discreet manner, since it is for three fiscal years."

Member of Parliament, Rafik al-Salhi, promised that the Democratic Party's objection to the financial budget amendments would be unjustified, and he described the Finance Committee's amendments as "fair." LINK

The President Of The Republic: The Delay In The Budget Greatly Affected The Implementation Of Vital Projects

The President of the Republic, Abdul Latif Jamal Rashid, confirmed today, Sunday, that the delay in the budget greatly affected the start of implementing vital projects.

A statement by the Presidency of the Republic stated, “The President of the Republic, Abdul Latif Jamal Rashid, received today, at the Baghdad Palace, the professor of linguistic and Quranic studies, Fadel Saleh Al-Samarrai, the sheikh of Arab diplomats, Mahmoud Ali Al-Daoud, and the head of the Al-Zaher Media Foundation, a consultant dermatologist, Ali Abdul-Razzaq Mohiuddin.”

Rashid stressed, during the meeting, according to the statement, "the necessity of caring for scholars and researchers and supporting Iraqi scientific scholars who had a prominent and recognized role in local and international forums," pointing to "the importance of reading and libraries in building societies and the advancement of countries."

He pointed out that "establishing security and stability is a priority in the government's ambitious approach, in addition to providing services and rehabilitating infrastructure," noting that "the delay in the budget greatly affected the start of implementing vital projects."

He stressed "the importance of peaceful coexistence between ethnic and religious components," stressing that "cultural and scientific work is the way to consolidate coexistence among all."

He pointed out that "there are efforts being made for the convergence of the Arab and Kurdish cultures," noting the "necessity of upgrading the role of the Iraqi diplomat in order to contribute effectively to the process of advancement and construction, which requires concerted benevolent efforts to enhance Iraq's role in the region and strengthen relations with its neighbors and countries of the world, and the necessity Benefit from energies and expertise in order to complete the process of construction and development in the country.

For their part, the guests expressed their thanks and appreciation to the President of the Republic for his efforts in caring for science and scholars, stressing that "their energies are harnessed to serve Iraq."

They also reviewed the activities of the House of Wisdom, and the cultural and scientific publications issued by it, noting “coordination and cooperation with universities to attract scientific and literary cadres.”   https://takadum-news.com/archives/166538

Barzani: Changes To Kurdistan's Share In The Budget Are "Treason, Injustice And Conspiracy"

Money  and business   Economy News – Baghdad   On Saturday, the President of the Kurdistan Government, Masrour Barzani, said that the changes made to the share of the Kurdistan region in the budget are "treason, injustice and a conspiracy."

The Kurdistan government stated in a statement that Barzani visited the Zarrati Plain in Erbil Governorate, and was briefed on the conditions of farmers and farmers, "he also participated in the process of harvesting crops, as the siloes of the Kurdistan Region began to receive wheat from farmers."

During a session with a number of farmers, Barzani said, according to the statement, "The Kurdistan Regional Government is working hard to make every effort to increase interest in the agricultural sector and to market the products of Kurdistan farmers in a way that aims to dispel their concerns and concerns about marketing their products."

He added, "The changes that were made to the share of the Kurdistan region in the federal budget are treason, injustice, and a conspiracy plotted against the Kurdistan region, but we will confront this conspiracy by all means, and we will not let it go."

He expressed "regret that there are internal hands involved in this plot, and worse than that, they consider reducing the powers of the Kurdistan region a success for them, but we assure you that this is nothing but a desperate attempt, and it will not succeed."  05/27/2023 - https://economy-news.net/content.php?id=34433

Parliamentary Legal: It Is Hoped To Start Discussing The Oil And Gas Law After Approving The Budget

Energy    Economy News – Baghdad   A member of the Parliamentary Legal Committee, Aref Al-Hamami, confirmed today, Sunday, that the approval of the oil and gas law has become mandatory.

Al-Hamami said, "The oil and gas law was agreed upon politically before the government's approval, as the state administration coalition agreed in principle to approve the oil and gas law, in addition to the decision of the Federal Court and the International Court of Arbitration not to deliver any amount to the Kurdistan region."

Al-Hamami added, in an interview with the official news agency, that "the central government and the region are obligated to approve the oil and gas law, and it is hoped to start discussing it after the budget."  70 views   05/28/2023 - https://economy-news.net/content.php?id=34443

Sudanese Financial Advisor: Budget Support Is About 13%

Money  and business  Economy News – Baghdad  Today, Sunday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is currently one of the countries with moderate prices compared to countries in the world, according to International Monetary Fund data, while revealing the percentage of support in the budget.

 Saleh said, "The subsidy in the federal budget, which will remain at approximately 13% of the gross domestic product, is the important control factor assumed by fiscal policy in combating inflationary activities resulting from government spending, which constitutes about 50% of the country's GDP as well."

He added, "The subsidy mainly consists of the stability of originally subsidized fuel prices, electricity and all other basic government services, and it is no secret the important and fundamental role that monetary policy will play in controlling liquidity levels by using its quantitative and price operational objectives in controlling aggregate spending pressures or effective demand, whether by performance."

The stable exchange rate and the role of the foreign currency window in absorbing demand in the Iraqi dinar or by using financial tools launched by the central bank when needed by using the interest tool to control the money supply and target its growth degrees in the range required to stabilize the general level of prices.

He pointed out, "The combined role of monetary and fiscal policies will undoubtedly work in addressing potential inflationary pressures resulting from aggregate demand or aggregate spending in the economy, as public budget spending is the main source of demand or spending."

And Saleh continued, "According to the International Monetary Fund data, Iraq is currently one of the moderate-priced countries compared to other countries of the world," according to the official agency.

Views 22  Added 05/28/2023 -  https://economy-news.net/content.php?id=34445

The Minister Of Finance Of The Region: Amending Articles 13 And 14 In The Budget Has Left No Power For Kurdistan

 05/28/2023 Read: 1,053 times  {Politics: Al Furat News} The Minister of Finance of the Kurdistan Region, Awat Sheikh Janab, considered, on Sunday, that any changes to any article in the federal financial budget outside the agreements concluded between Erbil and Baghdad are considered "illegal."

Sheikh Janab said in a press conference held today in Erbil, that the regional government is committed to all agreements concluded between it and the federal government regarding the oil and gas file and the country's general financial budget.

He added that the recent amendments to the budget with regard to the share of the region aimed at disturbing the current positive atmosphere between Erbil and Baghdad, and creating a problem between them.

According to the agreements concluded, the Kurdistan Region has the freedom to deposit financial revenues in any bank it wants, according to the minister.

Sheikh Janab also indicated that the entire amendments that were made to Articles 13 and 14 did not leave any authority for the region, describing those changes to the two articles as "contrary to the agreements concluded and the law."

The minister stressed that the issue of saved salaries should not be used in political bidding, noting that the Kurdistan Regional Government has a plan for saved salaries.   LINK

The region feels disappointed and disagreements over the budget escalate before it is approved

Posted On2023-05-28 By Sotaliraq  May 27, 2023  Masoud Haidar warns against returning to the spiral of instability

Erbil - Farid Hassan   For his part, the head of the regional government, Masrour Barzani, confirmed that the agreement reached with Prime Minister Muhammad Shia al-Sudani is the cornerstone of cooperation between Erbil and Baghdad.

He said in a tweet on Twitter, which Al-Zaman followed yesterday, that (a group in the Parliamentary Finance Committee made changes to the draft budget, violating a prior agreement we concluded with Al-Sudani), stressing that (the agreement, which is the cornerstone of cooperation between Erbil and Baghdad, and all parties must respect its provisions ).

In turn, the Undersecretary of the Ministry of Finance, Masoud Haider, said in a tweet on Twitter, which was followed by (Al-Zaman) yesterday, that (violating the government curriculum that the House of Representatives voted on and the federal government and the Prime Minister are working on with great care to address all problems, including between the region and Baghdad, will return Iraq and all Iraqis to a point Zero and the spiral of political instability.”

He added, “The government curriculum is a parliamentary mandate for the government.” While the deputies in the National Union renewed their confirmation of attending the voting session on the budget and that any delay in the process of approving it will affect citizens, whether in the region or other governorates. Last Thursday, the Parliamentary Finance Committee voted to oblige the region to pay 10 percent on a monthly basis from the salaries deducted to its employees.

The procedure came as part of the committee's amendments to the budget law, which are being discussed within the committee in preparation for submission to parliament for approval.

The expert, Hussein Al-Asadi, suggested in a statement followed by Al-Zaman yesterday to (the committee treating the region as the provinces in handing over oil and non-oil imports, including the imports of border crossings and other imports, and it is handed over to the federal government and counted as a final revenue for it).

The procedure came as part of the committee's amendments to the budget law, which are being discussed within the committee in preparation for submission to parliament for approval. The expert, Hussein Al-Asadi, suggested in a statement followed by Al-Zaman yesterday to (the committee treating the region as the provinces in handing over oil and non-oil imports, including imports from border crossings and other imports, and it is handed over to the federal government and counted as a final revenue for it).

The procedure came as part of the committee's amendments to the budget law, which are being discussed within the committee in preparation for submission to parliament for approval. The expert,

Hussein Al-Asadi, suggested in a statement followed by Al-Zaman yesterday to (the committee treating the region as the provinces in handing over oil and non-oil imports, including imports from border crossings and other imports, and it is handed over to the federal government and counted as a final revenue for it).

Stressing (the necessity for the region to abide by the implementation of the Federal Court’s decision regarding handing over all oil production from the oil fields), and added that (the region constitutes 12.67 percent of the population, then the manpower table attached to the budget law is corrected on the basis of this percentage, especially in higher grades Likewise, the federal government is not entitled to deliver any of the federal imports to the region except after confirming its commitment to settling all dues from 2004 to 2023).  LINK

The Coordination Framework Openly Challenges The Kurdistan Region: The Budget Has Been Completed And Is On Its Way To Approval

Policy,  2023/05/28, the number of readings: 189   Baghdad-Iraq today:  The coordination framework, which brings together the Shiite political blocs, announced the completion of the entire draft budget law within the Finance Committee.

The leader in the framework, Hassan Fadam, said, in a press interview, that "the budget law was completed within the Finance Committee of the Iraqi Parliament, and all articles and paragraphs of the law were voted on," noting that "during the Coming hours, the budget law will be sent to the Presidency of the Parliament in order to determine the session for voting on the law.

And Fadaam indicated that "the Parliamentary Finance Committee worked to make the budget law fair and equitable," noting that "all Iraqi political forces, Shiite, Sunni, Kurdish, and minorities participated and voted on the paragraphs of the law and amended them in line with the Iraqi constitution and justice in the distribution of wealth."

He stressed that "the boycott was only by the Kurdistan Democratic Party, and the rest of the Kurdish blocs participated in voting and amending the paragraphs of the budget."   LINK

Stability Of Dollar Exchange Rates In Baghdad Markets

Economy  | Baghdad today - Baghdad   Today, Sunday, the dollar exchange rates recorded stability in the local markets in Baghdad, for the fourth day in a row.

The (Baghdad Today) correspondent said, "The exchange rate of the dollar on the Harithiya and Al-Kifah stock exchanges amounted to 146,300 dinars for every 100 dollars."

He added, "While the selling price in exchange offices amounted to 146,750 dinars per 100 dollars, and the purchase price amounted to 145,750 dinars per 100 dollars."

Yesterday, Saturday, the exchange rate of the dollar was stable, reaching 146,500 dinars per 100 dollars. LINK

Iraq's Oil Exports To America Decreased To 136 Thousand Barrels Per Day

Economy  | Baghdad today - Baghdad   The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America decreased for the second week in a row, to reach an average of 136 thousand barrels per day during the past week  .

The administration said in its schedule, "The average US imports of crude oil during the past week from eight major countries amounted to 5.249 million barrels per day, down by 544 thousand barrels per day from the previous week, which amounted to 5.793 million barrels per day."

She added, "Iraq's oil exports to America amounted to an average of 136,000 barrels per day last week, down by 38,000 barrels as a daily average from the previous week, in which oil exports to America reached an average of 174,000 barrels per day."

The administration also indicated that "most of America's oil revenues during the past week came from Canada at an average of 3.707 million barrels per day, followed by Mexico at an average of 657 thousand barrels per day, and oil revenues from Colombia amounted to an average of 214 thousand barrels per day, and then Saudi Arabia at an average of 212 thousand barrels per day." ".

According to the table, "the amount of US imports of crude oil from Brazil amounted to an average of 175,000 barrels per day, from Nigeria at a rate of 77,000 barrels per day, and from Ecuador at an average of 71,000 barrels per day, while it did not import any quantity from Russia or Libya."   LINK

Ministry Of Oil: Last Month's Revenues Amounted To More Than $7 Billion

Baghdad – conscious   Today, Sunday, the Ministry of Oil announced the final statistics of oil exports for the month of April and the revenues generated from them.

The ministry said, in a statement received by the Iraqi News Agency (INA), that "the total exports of crude oil for the month of April, according to the final statistics issued by the Iraqi Oil Marketing Company (SOMO), amounted to (98) million (634) thousand and (947). Barrels, with revenues amounting to (7) billion and (699) million and (272) thousand dollars.

And she added, "The total exported quantities of crude oil for the month of April from the oil fields in central and southern Iraq amounted to (98) million (634) thousand and (947) barrels," noting that "the average price per barrel amounted to (78,058) dollars." .

It stated that "the exported quantities have been loaded by (36) international companies of several nationalities, from the ports of Basra, Khor al-Amaya, mono-buoys on the Gulf, the Turkish port of Ceyhan and the modern warehouse of Kirkuk."

It is noteworthy that the Ministry of Oil, through its belief in informing the people of export operations and the revenues generated from it, has taken this monthly procedure. https://www.ina.iq/186206--7-.html