"Tidbits From TNT" Wednesday Morning 8-9-2023
TNT:
Tishwash: The tripartite budget enters into force.. Calls to monitor the exchange doors and prevent their electoral exploitation
After the tripartite budget enters into force, the parliamentary circles stress the need to intensify governmental and parliamentary efforts at the gates of its disbursement to preserve its huge funds.
After a long-awaited period, the tripartite budget enters into force after its instructions were published in the Official Gazette.. with an unprecedentedly huge financial ceiling, which made the parliamentary circles warn against exploiting their funds, especially with the approaching local elections.
Parliament's role in monitoring the expenditures will begin after the end of the task of legislating the budget law. Representatives also refuse to allow budget funds to be subject to partisan division. link
TNT:
Tishwash: The tripartite budget enters into force.. Calls to monitor the exchange doors and prevent their electoral exploitation
After the tripartite budget enters into force, the parliamentary circles stress the need to intensify governmental and parliamentary efforts at the gates of its disbursement to preserve its huge funds.
After a long-awaited period, the tripartite budget enters into force after its instructions were published in the Official Gazette.. with an unprecedentedly huge financial ceiling, which made the parliamentary circles warn against exploiting their funds, especially with the approaching local elections.
Parliament's role in monitoring the expenditures will begin after the end of the task of legislating the budget law. Representatives also refuse to allow budget funds to be subject to partisan division. link
CandyKisses: Political analyst: The oil and gas law is a game between Baghdad and Erbil to pass agreements
Baghdad - Iraq Today:
Dr. Qahtan Al-Khafaji, Vice Chairman of the Political Science Committee at the Iraqi Forum for Elites and Competencies, stressed that the proposed mechanisms for managing oil and gas, whether by Baghdad or Erbil after 2003, are different and contrary to the rules of the systems adopted in the international systems.
A press interview said that "after 2003, the situation on the ground changed, and mechanisms were proposed by Baghdad and other Kurdish to manage the oil of Iraq and the region, and all of these proposals are basically different and contrary to the rules of the systems adopted in the global systems."
He added: "In all countries of the world, we always find natural and financial resources, the army, borders and foreign affairs are the business of the federal and central government, and this is applied in America, Switzerland and Brazil, which are federal countries, but the situation of Iraq is completely different, what has been going on for years is the process of dividing and sharing imports between political blocs, and these political blocs are basically not independent of themselves, but linked to an external force."
The deputy chairman of the Political Science Committee pointed out that what is happening today about the Iraqi government's preparation of a new oil and gas law in the country is mainly a process of procrastination, dilution and distribution of the collective effectiveness of the various Iraqi capabilities.
"The issue of oil and gas is a thorny, long and complex issue, even in light of a political-trade process, and I think it will take a long time, because there are many opinions within the political process that do not see the new proposals as a sound way to serve Iraq, in addition to the effective popular rejection," al-Khafaji said.
The deputy head of the Political Science Committee pointed out that "talking about a new oil law is a government game for the purpose of escaping responsibility, because decisions within the corridors of parliament often take long, thorny and complex procedures, in addition to the fact that moving in this direction is a process of escaping forward and leaving the matter, and this move is no more than a political maneuver by the official authorities in the state."
Al-Khafaji concluded by saying: "The legislation of a new gas and oil law that disperses the central administration of oil and gas or any Iraqi natural resources is outside logic and outside all the functions of the adopted fundamentalist state, whether in central states or federal states."
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Tishwash: The dollar burdens the concerns of the Iraqis.. The continuation of the American economy conspiracy
Dollar prices recorded a record high after a modest decline under US pressure on Iraqi banks and the government, which turned the currency crisis into a nightmare haunting the Iraqis.
According to the local stock exchange, the category of one hundred dollars exceeded 155 thousand Iraqi dinars, with the difference between buying and selling.
For her part, Ibtisam al-Hilali, a member of the Fatah Alliance, accused the American side of provoking international and domestic crises for the Iraqi government.
Al-Hilali said in a statement to Al-Maalouma, "The United States of America insists on pursuing an aggressive policy towards Baghdad because of its rapprochement with all neighboring countries and its playing the most prominent role in the region."
She added, "Provoking the border crisis with Kuwait, playing on the electricity crisis, and fueling the street against the government of Muhammad Shia' al-Sudani, in conjunction with the escalation and imposing a blockade on Iraqi banks, are all evidence of America's involvement in internal affairs."
Sterile Iraqi measures
In addition, a member of the House of Representatives, Kazem Al-Toki, considered that the measures taken by the Central Bank did not withstand the decisions of the US Treasury regarding the dollar, while stressing that Washington imposed many financial policies on the Central Bank.
Al-Touki said, in an interview with the information agency, that "the widening of the dollar exchange rate gap between the parallel and official rate is greater than the central bank's measures," adding that "the sanctions that the US Treasury continues to impose will not allow the dollar's exchange rates to stabilize in the local markets."
And he continued, "The Central Bank did not succeed in limiting the rise in dollar prices in the local markets compared to the official price that it adopts," noting that "the United States of America imposed many financial policies on the Central Bank."
Reasons for the rise of the green currency
In addition, the economic expert, Saleh Al-Hashemi, attributed the continued rise in the exchange rates of the dollar in the local markets to the increasing demand for the dollar, while stressing that the central bank had not succeeded in controlling the dollar crisis despite the many measures it had taken.
Al-Hashemi said, in an interview with the information agency, that "there are major violations in government and private banks and exchange offices in supplying dollars to citizens," noting that "the central bank must circulate outlets selling dollars in all branches of its government banks to weaken the strength of demand in the markets."
And he continued, "The high wages that the citizen pays to government banks as a result of completing the transfers is one of the main reasons that contributed to his orientation to the informal private money exchange," pointing out that "the huge monthly transfers made by officials outside Iraq exacerbated the current dollar crisis."
Regarding the reasons for the continuation of the exchange rate crisis, Al-Hashemi explains, "The Central Bank did not succeed in controlling the crisis of the widening gap between the parallel rate and the official rate, despite the many measures it took as a result of the lack of transparency in the administrative and financial work mechanism." link
Mot: .... Happy International Cat Day!
Mot . but who is acounting!!???
Tuesday Evening Iraq Economic News Highlights 8-8-23
Tuesday Evening Iraq Economic News Highlights 8-8-23
Financial Experts Call For The Adoption Of The Slogan {Our Dinar}
Economical 2023/08/08 ussein Thaghb Specialists in the financial affairs believe that the return of the exchange of the dollar to its normal rates requires the adoption of the slogan "Our Dinar", calling at the same time that the efforts of government institutions, the private sector and the media join forces to support dealing in dinars exclusively, and to leave dollar transactions.
Tuesday Evening Iraq Economic News Highlights 8-8-23
Financial Experts Call For The Adoption Of The Slogan {Our Dinar}
Economical 2023/08/08 ussein Thaghb Specialists in the financial affairs believe that the return of the exchange of the dollar to its normal rates requires the adoption of the slogan "Our Dinar", calling at the same time that the efforts of government institutions, the private sector and the media join forces to support dealing in dinars exclusively, and to leave dollar transactions.
Financial affairs expert Suha Al-Kafa’i confirmed to “Al-Sabah” that “the stability of exchange rates in the local market requires participatory solutions between the citizen and the merchant, as the reality of transactions needs to be converted into the Iraqi dinar instead of the dollar for all transactions without exception, and this will reduce the demand for the dollar, as The trader in dinars goes to the bank to obtain dollars for the purpose of importing at a price of 1320 dinars for one dollar, and from here it is possible to reduce the demand for dollars in the parallel market.
Al-Kafaei stressed that "the private sector has flexibility in providing solutions that help achieve stability in exchange rates," noting that "the matter requires achieving integration and cooperation between the private sector and the central bank."
Iraqi."
And she said, "The citizen is required to refrain from buying any commodity in dollars, and here he must go to buy goods from a similar merchant who sells in dinars, and thus contribute to reducing the demand for dollars, as this mechanism leads to all merchants directing to deal in dinars, and contributes to the non-rise in prices, as The merchant will go to the bank to obtain the dollar at a price of 1320 dinars against one dollar, to cover his imports through the approved mechanism.
And she stressed that "in this way, the two most important elements will abandon dealing in dollars, the citizen who has many and varied transactions, as the country's population exceeds 40 million people, and the merchants who represent a wide segment that leads the economy whose imports represent 95% of the need of the local market, and when dealings tend to To the dinar, we tend to achieve stability in exchange rates, provided that we refrain from buying any need in dollars.”
And she warned of "the importance of the Ministry of Commerce raising the slogan of dealing in dinars, and escalating cases of education through seminars, conferences and the media, so that dealings are in dinars exclusively, in support of the government's measures to achieve stability in the exchange rates of the dollar against the dinar and at the official rate, and there can be an active role for the development department." The private sector and the Department of Import and Export in the Ministry of Commerce, from here a campaign must be launched to deal in dinars exclusively.
And she emphasized, "The inevitability of concerted efforts by the ministries, along with the media, to move towards dealing in dinars and make dealing in dollars between the merchant and the bank exclusively for the purposes of financial imports," noting that "the business family realizes that dealing at the official rates of the exchange rate is more beneficial and profitable."
Al-Kafaei pointed out that "this mechanism will reduce dealings in the parallel market, which offers dollars at higher prices than the official price of 1,320 dinars against the dollar."
the one".
In turn, the specialist in economic affairs, Silwan Al-Nuri, stressed that "it is imperative that we turn to dealing in local dinars inside the country, and that mechanisms be agreed upon between the private sector that offers goods and services and the Central Bank of Iraq be adopted, and that all challenges that prevent the merchant from going to the banking system to obtain dollars to cover its foreign imports.
He pointed out that "Iraq has a large volume of dealings with various countries of the world, and there are challenges in dealing that need a serious pause to address them through continuous meetings that bring together the concerned parties, to create a dealing policy that regulates the reality of the local market, and maintains its stability, and the dinar is for internal transactions, and the dollar is for dealings." foreign affairs and from its official sources, and not to go to the parallel market to obtain dollars.
He stressed that "limiting transactions in dinars represents an important step that raises the value of the dinar and takes the market to a stage of stability." https://alsabaah.iq/81939-.html
'Our Dinar'.. A Campaign To Return The Exchange Rate Of The Dollar To Its Normal Rates
2023.08.08 - Baghdad - Nas Specialists in the financial affairs believe that the return of the exchange of the dollar to its normal rates requires the adoption of the slogan "Our Dinar", calling at the same time that the efforts of government institutions, the private sector and the media join forces to support dealing in dinars exclusively, and to leave dollar transactions.
Financial affairs expert Suha Al-Kafaei confirmed in an interview with the official newspaper, followed by “Nass” (8 August 2023): “The stability of exchange rates in the local market requires participatory solutions between the citizen and the merchant, as the reality of transactions needs to be transformed into the Iraqi dinar instead of the dollar for all transactions without An exception, and this will reduce the demand for the dollar, as the trader in dinars goes to the bank to obtain the dollar for the purpose of import at a price of 1320 dinars for one dollar, and from here the demand for the dollar can be reduced in the parallel market.
Al-Kafaei stressed that "the private sector has flexibility in providing solutions that help achieve stability in exchange rates," pointing out that "the matter needs to achieve integration and cooperation between the private sector and the Central Bank of Iraq."
And she said, "The citizen is required to refrain from buying any commodity in dollars, and here he must go to buy goods from a similar merchant who sells in dinars, and thus contribute to reducing the demand for dollars, as this mechanism leads to all merchants directing to deal in dinars, and contributes to the non-rise in prices, as The merchant will go to the bank to obtain the dollar at a price of 1320 dinars against one dollar, to cover his imports through the approved mechanism.
And she emphasized that “in this way, the two most important elements will abandon dealing in dollars, the citizen who has many and varied transactions, as the country’s population exceeds 40 million people, and the merchants who represent a wide segment that leads the economy whose imports represent 95% of the local market’s need, and when transactions turn to Dinar We tend to achieve stability in exchange rates, provided that we refrain from buying any need in dollars.
And she warned of "the importance of the Ministry of Commerce raising the slogan of dealing in dinars, and escalating cases of education through seminars, conferences and the media, so that dealings are in dinars exclusively, in support of the government's measures to achieve stability in the exchange rates of the dollar against the dinar and at the official rate, and there can be an active role for the development department." The private sector and the Department of Import and Export in the Ministry of Commerce, from here a campaign must be launched to deal in dinars exclusively.
And she emphasized, "The inevitability of concerted efforts by the ministries, along with the media, to move towards dealing in dinars and make dealing in dollars between the merchant and the bank exclusively for the purposes of financial imports," noting that "the business family realizes that dealing at the official rates of the exchange rate is more beneficial and profitable."
Al-Kafaei pointed out that "this mechanism will reduce dealings in the parallel market, which offers dollars at higher prices than the official price of 1,320 dinars for one dollar."
In turn, the specialist in economic affairs, Silwan Al-Nuri, stressed that "it is imperative that we turn to dealing in local dinars inside the country, and that mechanisms be agreed upon between the private sector that offers goods and services and the Central Bank of Iraq be adopted, and that all challenges that prevent the merchant from going to the banking system to obtain dollars to cover its foreign imports.
He pointed out that "Iraq has a large volume of dealings with various countries of the world, and there are challenges in dealing that need a serious pause to address them through continuous meetings that bring together the concerned parties, to create a dealing policy that regulates the reality of the local market, and maintains its stability, and the dinar is for internal transactions, and the dollar is for dealings." foreign affairs and from its official sources, and not to go to the parallel market to obtain dollars.
He stressed that "limiting transactions in dinars represents an important step that raises the value of the dinar and takes the market to a stage of stability." https://www.nasnews.com/view.php?cat=112331
Securities Commission: The Rise In The Exchange Rate Of The Dollar To 2000 Dinars Is Unlikely
August 8, 2023 Baghdad / Obelisk Al-Hadath: The head of the Iraqi Securities Commission, Faisal Al-Haimus, ruled out the rise in the exchange rate of the dollar to 2,000 dinars, noting that the exchange rate of the dollar would begin to decline after fluctuation for a short period.
The head of the Iraqi Securities Commission, Faisal Al-Haimus, said, according to Rudaw Network, that the issue of the exchange rate of the dollar “relates exclusively to the Central Bank of Iraq,” adding that preventing the fourteen banks from entering the platform to buy the dollar has an impact on the nature of the exchange rate against the dinar.
He stated that there are “governmental efforts by the Central Bank and the Prime Minister to consolidate the banking sector,” noting that it was represented by launching a campaign to arrest price speculators.
Faisal Al-Haimus, explained that 18 Iraqi banks have been restricted and banned from entering the dollar purchase platform out of about 71 banks in the country, indicating that the procedure is not a punishment, but rather a consolidation of the banking process in Iraq.
He pointed out that the US measure is a “temporary ban,” hoping that the covered banks will “solidify their business and comply with dollar purchases for legitimate purposes and engage in legitimate trade, and review their procedures in order to resume their activity in the future.”
The head of the Iraqi Securities Commission confirmed the presence of people who “benefit from causing panic among people with the rise in the price of the dollar against the dinar in the coming period,” describing the rumors that the price of one dollar has reached two thousand dinars as “an exaggeration.”
Regarding money smuggling to neighboring countries, he considered this operation “one of the reasons that led to distorting the image of the Iraqi banking sector, and as a result, the 14 banks were restricted.”
Al-Haimus pointed out that the recent measures are “required,” attributing this to “reducing the emergence of illegal activity through smugglers.”
He continued, "The recent package launched by the Central Bank regarding the entry of small merchants and others, measures that will help reduce the gap between the official exchange rate and the black market."
The head of the Iraqi Securities Commission, stated that there is an initiative from the Iraqi Trade Bank to “enable small merchants to obtain dollars by submitting official documents,” ruling out the possibility of violations.
“The process of legal merchants obtaining foreign currency to import their requirements of goods, and the presence of a foreign company contracted by the Central Bank to audit invoices,” will lead to “providing sound and grounded funding,” according to Faisal al-Haimus.
He added that he does not agree with saying, “The number of beneficiaries from the platform from the merchants of the Kurdistan Region is small, because all the operating banks entering the platform are in the Kurdistan Region and the rest of the governorates of Iraq, and all this indicates that there are a large number of merchants entering the platform daily.”
He pointed out that the Central Bank “sells between 200 to 220 million dollars a day, and they are a large number, which shows that (the bank) is the legitimate outlet that is used to meet the need of merchants to buy products from abroad and import them into Iraq.”
Regarding the repercussions of preventing 14 banks from dealing in dollars, he said that it “led to an increase in the exchange rate of the dollar against the dinar, and this is the result of the surprise that occurred and the rumors that were previously reported,” referring to “the drop in the exchange rate of the dollar in the last two days against the Iraqi dinar.”
Faisal Al-Haimus expressed his belief that “there is great cooperation between the Central Bank, the US government, the US Treasury and the Federal Bank to control this situation.”
The head of the Iraqi Securities Commission expressed his optimism about the decline in the exchange rate of the dollar, saying that “the rise (exchange rate of 100) dollars to 200 thousand dinars is unlikely.”
And he went on, “There will be fluctuation for a short period of time,” stressing that “the measures taken by the Central Bank will contribute to reducing the gap, and I believe that we will start a gradual decline, not an increase” in the dollar exchange rate.
Regarding the role of the Securities Commission, he indicated that “its supervisory role is on the Iraqi Stock Exchange, and we supervise it and its trading on a daily basis and try to advance it, and there are efforts to open branches of the Iraqi Stock Exchange in all governorates, including in the Kurdistan Region.”
In this context, he referred to the visit of a joint delegation from the Securities Commission and the Iraq Stock Exchange to Sulaymaniyah to “arrange the establishment of a trading hall in Sulaymaniyah, and we will follow up these efforts in order to be present” in the Kurdistan Region and serve its citizens in the field of trading in “stocks and bonds.”
Regarding a branch in Erbil, he said: “We granted the license to the Erbil Stock Exchange in 2014, and the concerned authorities in the Kurdistan Region took the initiative to establish the Erbil Stock Exchange Company,” noting that the events in Mosul and ISIS “delayed the establishment of this market, and we are still in contact with the brothers in Erbil, and the place needs to be worked with by the Kurdistan Regional Government.” https://almasalah.com/archives/61903
Budget Instructions Come Into Effect
The first 2023/08/08 Muhammad al-Ansari Yesterday, Monday, the Ministry of Justice announced that the federal general budget for three years had entered into force, and the Director General of the Iraqi Facts Department in the ministry, Hanan Munther Nassif, stated that Instructions No. (1) for the year 2023, related to facilitating the implementation of the Federal General Budget Law of the Republic of Iraq for the fiscal years, had been published. (2023/ 2024/ 2025) No. (13) of 2023 in the Official Gazette.
Nassif explained that "Instructions No. (1) for the year 2023 are considered effective retroactively from the date 1/1/2023," indicating that "the instructions have entered into force."
In addition, the Federal Supreme Court decided, yesterday, Monday, to reject some appeals in form related to the unconstitutionality of articles in the budget law.
And the court stated, in a statement, that it had ruled to dismiss the plaintiffs’ case in form in (6) cases related to challenging the constitutionality of some articles of Law No. 13 of 2023, the Federal General Budget Law of the Republic of Iraq for the fiscal years 2023/2024/2025.
And it indicated that the ruling’s response came based on the provisions of Article 22 of the Internal Regulation No. 1 of 2022 and the significance of Article 19 thereof, because the plaintiffs are not among the persons mentioned in the aforementioned article who have the right to challenge the constitutionality of the budget law and charge them with expenses, fees and attorney’s fees, and the rulings were issued by agreement in full. And binding on all authorities, and I understand publicly on 7/8/2023.
Earlier on Monday, the Federal Supreme Court announced the resolution of the Kurdistan Regional Government's appeal to the budget law.
The media of the Federal Supreme Court said, in a statement, that the court considered today the case No. (168 / federal / 2023) filed before it by the plaintiff (the President of the Kurdistan Regional Government / in addition to his job) against the defendant (the Speaker of Parliament / in addition to his job) regarding the appeal. Pursuant to Articles of Law No. 13 of 2023 (the federal general budget of the Republic of Iraq for the fiscal years 2023, 2024, and 2025).
The statement added that the Supreme Court issued its final and binding decision for all authorities, which includes the ruling on the unconstitutionality of the phrase (and with the approval of the Federal Prime Minister) mentioned in Article (11 / first) and the phrase (and in the event that the parliament cannot be dissolved to take the necessary decision) mentioned in Article (13 / Seventh). ) of the law.
The court decided to dismiss the case regarding the challenge to the constitutionality of articles (2/ first / 5 / b), (11 / second), (12 / second / a, b, c, d, e) and (13 / eighth / b) of the law. .
The Federal Supreme Court also announced the resolution of the federal government's appeal to the budget law.
Its media said in another separate statement: The Federal Supreme Court considered the case No. (153 / Federal / 2023) filed before it by the plaintiff (Prime Minister / in addition to his job) against the defendant (Speaker of Parliament / in addition to his job) regarding the appeal against articles of the law. No. (13) for the year 2023 (the federal general budget of the Republic of Iraq for the fiscal years 2023, 2024, and 2025).
And it issued its final and binding decision for all authorities, which includes the ruling that the phrase (exclusively) contained in Article (2/first/8/c/6) is unconstitutional, and the phrase (at his request) contained in the last part of Article (16/second), and Article (20/ Sixth), Article (28 / Fourth / A), Article (57 / First / C), Article (70 / Second), and Article (72) of Law No. (13) for the year 2023 (the federal general budget of the Republic of Iraq for the fiscal years 2023 2024, 2025).
The decision also included a judgment dismissing the plaintiff’s case regarding the challenge to the constitutionality of Articles: (28 / fourth / b), (62 / fourth), (63 / third), (65 / second), (71) and (75) of the above law. https://alsabaah.iq/81966-.html
Iraqi News Highlights Tuesday Afternoon 8-8-23
Iraqi News Highlights Tuesday Afternoon 8-8-23
Tlm724 Administrator Bondlady’s Corner
The Minister Of Defense Arrives In The United States Of America
Tuesday 08 August 2023 17:12 | a wish Number of readings: 72 Baghdad / NINA / The Minister of Defense, Thabet Muhammad Al-Abbasi, arrived at the head of a high-ranking delegation to the United States of America today, in response to an official invitation.
Iraqi News Highlights Tuesday Afternoon 8-8-23
Tlm724 Administrator Bondlady’s Corner
The Minister Of Defense Arrives In The United States Of America
Tuesday 08 August 2023 17:12 | a wish Number of readings: 72 Baghdad / NINA / The Minister of Defense, Thabet Muhammad Al-Abbasi, arrived at the head of a high-ranking delegation to the United States of America today, in response to an official invitation.
https://ninanews.com/Website/News/Details?Key=1069584
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The Minister Of Defense Is Discussing With His American Counterpart Joint Security Cooperation
Iraq Tuesday, August 8, 2023 Baghdad / National News Center Today, Tuesday, Minister of Defense Thabet Al-Abbasi held a meeting with his US counterpart Lloyd J. Austin to discuss joint security cooperation, while Austin praised the tremendous progress made by the Iraqi forces in defeating the terrorist gangs of ISIS.
A security source said, "The Minister of Defense, Thabet Al-Abbasi, held a meeting today with his American counterpart, Lloyd J. Austin, at the Pentagon headquarters in Washington, during the opening of the Joint Security Cooperation Dialogue between the United States and Iraq (JSCD)."
During the meeting, Austin praised “its importance in promoting a permanent security partnership between the United States and Iraq based on the strategic dialogue in July 2021, which reaffirmed commitment to the 2008 Strategic Framework Agreement, which led to the exit of American forces from Iraq, and led to the transfer of the mission to training and provision.” Advice, assistance and intelligence sharing with the Iraqi security forces.
Austin reaffirmed "the strategic partnership between the United States and Iraq," stressing "the commitment of the United States to a secure, stable and sovereign Iraq."
He praised "the tremendous progress made by the Iraqi security forces in the campaign to achieve the permanent defeat of ISIS," noting that "terrorist gangs still pose a threat."
He affirmed "the commitment of the United States to continue training, providing advice, assistance, and exchanging intelligence information with Iraqi security forces at the invitation of the Iraqi government," expressing his appreciation for "Iraq's commitment to reducing the number of ISIS fighters detained and displaced in northeastern Syria."
He urged "the Iraqi delegation to continue returning, rehabilitating and integrating Iraqi citizens residing in northeastern Syria." https://nnciraq.com/220556/
Al-Halbousi And The Delegation Of The Kurdistan Democratic Party Discuss The Oil And Gas Laws And The General Amnesty
political | 10:48 - 08/08/2023 Baghdad - Mawazine News Parliament Speaker Muhammad al-Halbousi discussed today, Tuesday, with the delegation of the Kurdistan Democratic Party, the oil and gas laws and the general amnesty.
A statement by the Parliament's media office, a copy of which Mawazine News received, stated that "Parliament Speaker Muhammad al-Halbousi received the delegation of the Kurdistan Democratic Party headed by Fadel Mirani."
The statement added, "During the meeting, developments in the political situation in the country were discussed, and the importance of enacting the laws contained in the political agreement paper and the government program, including the oil and gas law, the amendment of the general amnesty law, and others during the coming period, as well as stressing the importance of continuing the dialogue between the government." The federal government and the regional government to solve problems in accordance with the constitution. https://www.mawazin.net/Details.aspx?jimare=232874
The Dollar Exchange Rates Rose With The Closing Of The Stock Exchange In Baghdad
Economy Tuesday, August 8, 2023 Baghdad / The National News Center The price of the dollar rose today, Tuesday, in the Baghdad markets, with the closure of the main stock exchange in Al-Kifah.
The correspondent of the National News Center said, “The dollar prices rose with the closure of the Al-Kifah and Al-Harithiya stock exchanges, as prices recorded 152,000 dollars against 100 dollars, while the prices this morning were 151,500 dinars against 100 dollars.”
He added, "The selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 153,000 Iraqi dinars, while the purchase price reached 151,000 dinars for every 100 dollars."
Al-Rafidain Bank Is Discussing With The Finance And Government Banks The Draft Internal Regulations
Economy | 08/08/2023 Baghdad - Mawazine News Al- Rafidain Bank announced, today, Tuesday, the discussion of the draft internal regulations for government banks.
And the media office of the bank stated in a statement, “The Director General of the Rafidain Bank, the agency, Maher Hussein Rashid, chaired a meeting in the general administration of the bank that included the Director General of the Legal Department in the Ministry of Finance, Muhammad Hamza Mustafa, and representatives of government banks, in the presence of assistants and a number of department directors and employees of the Rafidain Bank.”
He added that "the meeting discussed the draft internal regulations for government banks and their compatibility with the development of the banking reality in the country."
And he continued, "The Director General reviewed the model of the internal system of government banks, studied it, and made proposals and observations on the draft system that was completed and in accordance with government laws, specifically the Ministry of Finance, the Central Bank of Iraq, and corporate law, taking into account the governance guide,"
pointing out that "the draft internal regulations for government banks It is an important start at the level of introducing advanced technological and digital updates, in line with the global systems of the banking sector. End 29 https://www.mawazin.net/Details.aspx?jimare=232899
To read more current and reliable Iraqi news please visit BondLady’s Corner:
"Tidbits From TNT" Tuesday 8-8-2023
TNT:
Tishwash: Towards a new global financial system
The world is preoccupied these days with the acceleration and development of events, especially the BRICS group's preparations for holding its conference scheduled for the middle of this month.
This comes amid speculation that the new BRICS currency may be approved as a competitor to the dollar in commercial transactions and global monetary reserves.
Here, the debate revolves around whether the BRICS group was able to extract the dominance of the dollar in world trade and compete with it.
The BRICS group includes China, Russia, India and Brazil, which was formed in 2009 and a year later, in 2010, South Africa joined it. This economic bloc is important because it constitutes 44 percent of the world's population and 30 percent of global production and aims to abandon the use of the dollar in exchanges trade in a new single currency for those countries.
TNT:
Tishwash: Towards a new global financial system
The world is preoccupied these days with the acceleration and development of events, especially the BRICS group's preparations for holding its conference scheduled for the middle of this month.
This comes amid speculation that the new BRICS currency may be approved as a competitor to the dollar in commercial transactions and global monetary reserves.
Here, the debate revolves around whether the BRICS group was able to extract the dominance of the dollar in world trade and compete with it.
The BRICS group includes China, Russia, India and Brazil, which was formed in 2009 and a year later, in 2010, South Africa joined it. This economic bloc is important because it constitutes 44 percent of the world's population and 30 percent of global production and aims to abandon the use of the dollar in exchanges trade in a new single currency for those countries.
It is worth noting that the dollar is the only currency traded in commercial exchanges since World War II.
What are the reasons for this cluster?
Most experts and locals unanimously agree that America's strict policy in its dealings with countries and its imposition of continuous sanctions has prompted these countries to think and search for a way to get rid of this hegemony.
Reports based on facts on the ground indicate that there are 19 countries, some of which have expressed their desire to join this bloc, led by Saudi Arabia, Egypt, Turkey, Iran, Mexico and Indonesia, and some of which are monitoring and interested in developments.
It is expected that the BRICS group will discuss in its conference, which will be held during these days, the possibility of opening acceptance of countries' applications for membership in this bloc, the principles and procedures for joining and issuing a unified currency.
And if the BRICS currency is approved, what will be the impact of this on the dominance of the dollar?
In order to show the impact of this currency, it is necessary to trace the impact of the euro, which was approved by the European countries in 1999. It achieved 36 percent of the global currency reserves, and reduced the share of the dollar, which constituted 90 percent of the global currency reserves.
Forecasts indicate that the BRICS currency will account for more than 30 percent of the global monetary reserve at the beginning of its launch at the expense of the dollar in commercial transactions around the world, and you can imagine the size of the impact in reducing the role of the dollar in the future and in the medium and long term.
From here, the picture becomes clear that the expectations of experts towards a new financial and economic system will inevitably come, and it is based on diversifying the global monetary reserve to limit the dominance of the dollar. Questions and debate will continue until the new system’s working mechanisms are launched.
What concerns us here is where is Iraq from these developments?
Here I would like to point out that the interest of those countries in their local currencies and their pride in them encouraged them to stand up to the power and dominance of the dollar in controlling their destinies, and although the BRICS will compete with the dollar and reduce its value in commercial transactions, they cannot completely remove it from the scene, and for this there are many reasons.
The government must pay attention to these developments and changes that occur in the global system and the need to draw up a balanced policy to deal with future expectations, with certainty that the Central Bank of Iraq closely monitors these developments and collects and analyzes information.
Here, we call for the importance of working on adopting the idea of diversifying the monetary reserve due to its importance in preserving the future of the country's economy. link
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CandyKisses: Framework: The passage of the oil and gas law is the first sign of resolving the differences that threaten the political Process
Information/Baghdad...
MP for the Coordination Framework Jassim Atwan, on Tuesday, stressed the importance of negotiations between the various political parties to reach compromise solutions on the oil and gas law, pointing out that the legislation of the law would eliminate differences, differences and privileges over the distribution of oil wealth.
Atwan told Al-Maalouma that "there is a possibility for the political parties to go towards negotiations and talks with the region to reach compromise solutions to the current stage on the oil file."
He added, "Iraq needs an understanding on the oil and gas law to ensure a solution to problems between all parties, as well as the stability of the political process and an end to the existing differences over the oil file, especially between Baghdad and Erbil."
And Atwan said, "The law would eliminate the granting of privileges to some parties over others, in addition to being a key to resolving the differences that threaten the political process."
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CandyKisses: 'Our dinar'. A campaign to return the dollar exchange to its normal rates
Baghdad - NAS
Specialists in financial affairs believe that the return of the dollar exchange to its normal rates needs to adopt the slogan "Our dinar", calling at the same time for the concerted efforts of government institutions, the private sector and the media to support dealing with dinars exclusively, and to leave dollar transactions.
Financial affairs expert Suha Al-Kafaei confirmed in an interview with the official newspaper "Nas", (August 8, 2023): "The stability of exchange rates in the local market requires participatory solutions between the citizen and the trader, as the reality of transactions needs to be converted to the Iraqi dinar instead of the dollar for all transactions without exception, and this will reduce the demand for the dollar, as the trader in dinars goes to the bank to obtain the dollar for the purpose of importing at a price of 1320 dinars against the dollar, and from here the demand for the dollar can be reduced in the parallel market."
The private sector has flexibility in providing solutions that help stabilize exchange rates," al-Kafai said, noting that "integration and cooperation between the private sector and the Central Bank of Iraq are needed."
She said that "the citizen is required to refrain from buying any commodity in dollars, and here he must go to buy goods from a similar trader who sells in dinars, and thus contributes to reducing the demand for the dollar, as this mechanism leads to the tendency of all traders to deal in dinars, and contributes to the non-rise in prices, as the trader will go to the bank to obtain the dollar at a price of 1320 dinars against the dollar, to cover his imports through the approved mechanism."
She stressed that "in this way, the two most important elements will abandon dealing in dollars, the citizen who has many and varied transactions, as the country's population exceeded 40 million people, and merchants, who represent a large segment leading the economy, whose imports represent 95% of the local market's need, and when transactions go to the dinar, we tend to achieve stability in exchange rates, provided that we refrain from buying any need in dollars."
She warned that "the importance of the Ministry of Commerce raising the slogan of dealing with the dinar, and to escalate the cases of education through seminars, conferences and the media, to be dealing with the dinar exclusively, in support of the government's measures to stabilize the exchange rates of the dollar against the dinar and at the official rate, and there can be an active role for the Department of Private Sector Development and the Department of Import and Export in the Ministry of Commerce, from here must launch a campaign to deal with dinars exclusively."
"It is imperative that ministries and the media join efforts to move towards dealing in dinars and make dealing in dollars between the merchant and the bank exclusively for the purposes of financial imports," she said, pointing out that "the commercial family realizes that dealing with the official exchange rate rates is more useful and profitable."
"This mechanism will reduce dealing in the parallel market, which offers the dollar at higher prices than the official rate of 1320,<> dinars to the dollar," al-Kafaei said.
Silwan al-Nouri, a specialist in economic affairs, stressed "the imperative that we move to deal with local dinars inside the country, adopt mechanisms agreed upon between the private sector, which offers goods and services, and the Central Bank of Iraq, and address all the challenges that prevent traders from going to the banking system to obtain dollars to cover their foreign imports."
He pointed out that "Iraq has a large volume of transactions with various countries of the world, and there are challenges in dealing that need a serious pause to address them through continuous meetings that bring together the concerned parties, to create a policy of dealing that regulates the reality of the local market, and maintains its stability, and the dinar is for internal transactions, and the dollar for foreign transactions and from its official sources, and not to go to the parallel market to obtain the dollar."
"Restricting transactions to dinars is an important step that raises the value of the dinar and takes the market to the stage of stability," he said.
Mot: . Been un of Those Daze Ya Knows!!!
Mot: And Yet Another Great ""Dieting Tip"" from Mot of Course!!!
Iraqi News Highlights Tuesday Morning 8-8-23
Iraqi News Highlights Tuesday Morning 8-8-23
Tlm724 Administrator Bondlady’s Corner
The tripartite budget instructions come into effect after being published in the Iraqi Gazette
Yesterday's politics, 15:26 Baghdad – conscious Today, Monday, the Iraqi Al-Waqa’i newspaper published the tripartite budget instructions that have entered into force.
"The instructions of the tripartite budget law have been published in the Official Gazette," Hanan Munther Nassif, Director General of the Iraqi Facts, told the Iraqi News Agency (INA). She added, "The instructions have entered into force."
Iraqi News Highlights Tuesday Morning 8-8-23
Tlm724 Administrator Bondlady’s Corner
The tripartite budget instructions come into effect after being published in the Iraqi Gazette
Yesterday's politics, 15:26 Baghdad – conscious Today, Monday, the Iraqi Al-Waqa’i newspaper published the tripartite budget instructions that have entered into force.
"The instructions of the tripartite budget law have been published in the Official Gazette," Hanan Munther Nassif, Director General of the Iraqi Facts, told the Iraqi News Agency (INA). She added, "The instructions have entered into force." https://www.ina.iq/191045--.html
Baghdad Trade Praises A Procedure For The Iraqi Trade Bank: Curbing The Rise In The Price Of The Dollar
Economy Iraqi Trade Bank Sell the dollar Small merchants 2023-08-07 Shafaq News/ The Baghdad Chamber of Commerce confirmed, on Monday, that the move of the Trade Bank of Iraq (TBI) prevented the rise in the price of the dollar, while it indicated that 90% of consumer goods are imported.
The head of the Chamber, Firas Al-Hamdani, said, in an interview with Shafaq News agency,
"The Iraqi markets are completely affected by the dollar, because 90% of consumer goods are imported, and therefore the high price of the dollar results in price inflation." He pointed out that
"the Iraqi government is serious about controlling the price of the dollar and
has taken a positive step by authorizing the Central Bank of Iraq to the Trade Bank of Iraq (TBI) to sell the dollar at a price of 1320 Iraqi dinars to small merchants for import purposes
without the requirement to submit the fundamental documents that belong to companies except for its affiliation with the Chamber of Commerce." or has a commercial record. He stressed that
"this step limited the rise in the price of the dollar against the dinar and created relative stability in the prices of goods in the local markets, because this matter is linked to the transfer of currency abroad, and
therefore we need the central bank and Iraqi banks to be supportive of the merchant." Al-Hamdani pointed out that
"the Iraqi Trade Bank, on July 30, began transferring dollar purchase requests to small merchants (shop owners), amounting to 100 thousand dollars per merchant at a price of 1320 per dollar, through banks directly without the need to participate in the electronic platform of the Central Bank."".
Meeting In The Ministry Of Finance On The "Unified Treasury Account"
Economy 2023-08-07 | 2,070 views Today, Monday, Finance Minister Taif Sami Muhammad chaired a meeting to discuss the requirements for designing and implementing the unified treasury system.
A statement from the ministry, received by Alsumaria News, stated that the minister "chaired a meeting today, in the presence of the Director General of Accounting, the head and members of the committee supporting the application of the unified treasury account, representatives of government banks, representatives of the Office of Financial Supervision, the Central Bank of Iraq and the Iraqi Trade Bank, to discuss the requirements for designing and implementing the unified treasury system."
The meeting discussed "plans to reform the public finance sector through the application of the unified treasury account, which represents a qualitative leap in the management of public funds, as the project will allow the possibility of monitoring the movement of funds and their safety."
Sami stressed, "The need to continue the ministry's efforts through the committees formed for the purpose of implementing the system to complete the steps of the project, which represents one of the pillars of developing the ministry's policy towards reforming the financial sector and the optimal implementation of the stages of the unified treasury account project."
https://www.alsumaria.tv/news/economy/463948/اجتماع-في-وزارة-المالية-حول-حساب-خزينة-الموحد
Announcement Of An Auction Of Islamic Deposit Certificates
August 07, 2023 We would like to inform you that the Islamic Deposit Certificates Certificates (ICD119) has been announced and in the period of (14) days and
the date of implementation of the auction will be on Sunday, 20/8/13/1923, and according to what was published in the Central Conservation System CSD, and that
Islamic banks can participate since the date of the date Spreading the advertisement until the day of implementation. https://cbi.iq/news/view/2398
Prime Minister: The Government Is Serious With All Its Apparatus In Working To Make Iraq An Ideal Investment Environment
Politics 6-08-2023, Baghdad – conscious Prime Minister Muhammad Shia al-Sudani affirmed today, Sunday, that the government is serious with all its apparatus in working to make Iraq an ideal investment environment.
The media office of the Prime Minister said, in a statement received by the Iraqi News Agency (INA), that
"Prime Minister Muhammad Shia'a Al-Sudani reviewed, today, the initial plans and the overall drawings for the project to build a large tourist complex in central Baghdad, which was submitted by the specialized Qatari Investment Holding Company." Real estate development and investment in tourist destinations.
The Prime Minister confirmed, during his review of the plans and models, that
"the government is serious with all its agencies in working to make Iraq an ideal investment environment that attracts capital, in a way that enables the Iraqi economy to open up and bridge interdependence with the global economy," noting that
"this will be reflected locally in creating opportunities." Work, and open more windows for development.
And the Council of Ministers had approved, in its last session, which was held on the first of August, to proceed with the project,
which will include the construction of a hotel, the latest in the capital, Baghdad, a chain of international restaurants, and presidential halls for local and international official events, in addition to a number of
vertical housing units, with designs inspired by The history and civilization of Mesopotamia, on an area of 19 dunums, to be opened before 2025. https://www.ina.iq/190995--.html
To read more current and reliable Iraqi news please visit BondLady’s Corner:
MilitiaMan and Crew: Iraqi Dinar - Accession to the Global Stage - WTO
Iraqi Dinar - Accession to the Global Stage - WTO
MilitiaMan and Crew: 8-7-2023
MM: There are a lot of exciting things happening in Iraq and around the world. Talking about Iraq’s ascension to the global financial system with the WTO and more…….
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Please listen to the full video for all the news……..
Iraqi Dinar - Accession to the Global Stage - WTO
MilitiaMan and Crew: 8-7-2023
MM: There are a lot of exciting things happening in Iraq and around the world. Talking about Iraq’s ascension to the global financial system with the WTO and more…….
The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man
Please listen to the full video for all the news……..
Monday Afternoon Iraq Economic News Highlights 8-7-23
Monday Afternoon Iraq Economic News Highlights 8-7-23
The Tripartite Budget Instructions Come Into Force After Being Published In The Iraqi Facts
August 7, 2023 Walter Political| 03:31 – 07/08/2023 Baghdad – Mawazine News The Iraqi Fact Sheet published, on Monday, the tripartite budget instructions that came into effect.
“The instructions of a triple budget law have been published in the Official Gazette,” said the Director General of Iraqi Chronicle, Hanan Munther Nassif. “The instructions came into effect,” she added. The tripartite budget instructions come into force after being published in the Iraqi facts
Monday Afternoon Iraq Economic News Highlights 8-7-23
The Tripartite Budget Instructions Come Into Force After Being Published In The Iraqi Facts
August 7, 2023 Walter Political| 03:31 – 07/08/2023 Baghdad – Mawazine News The Iraqi Fact Sheet published, on Monday, the tripartite budget instructions that came into effect.
“The instructions of a triple budget law have been published in the Official Gazette,” said the Director General of Iraqi Chronicle, Hanan Munther Nassif. “The instructions came into effect,” she added. The tripartite budget instructions come into force after being published in the Iraqi facts
https://images.mawazin.net/root/root/images/12782023dba45416-601d-4773-9524-9d9944a4c8e9.png
Federal Supreme Court Rejects New Appeals Against The Tripartite Budget
Politics
Volcanoes
Federal Supreme Court
Financial Budget
Dismissal Of Appeals
Federal Supreme Court rejects new appeals against the tripartite budget Mail?
2023-08-07 08 twilight News / The Federal Supreme Court decided on Monday to dismiss some appeals in form related to The unconstitutionality of articles in the budget law.
The The court in a statement received by Shafaq News Agency, that it ruled to dismiss the plaintiffs' lawsuit in form in Cases No. (175/ Federal/2023), (170/Federal/2023) and (169/Federal/2023) And (165/ Federal/ 2023), (154/ Federal/ 2023) and (166/ Federal/ 2023), private challenging the constitutionality of some articles of Law No. 13 of 2023, General Budget Law Federal Republic of Iraq for the fisc years 2023 – 2024 – 2025.
She showed The judgment was dismissed based on the provisions of Article 22 of the Rules of Procedure No. 1 of 2022 In terms of Article 19 thereof, the plaintiffs are not among the persons mentioned in the above article. Male who have the right to challenge the constitutionality of the budget law and charge them expenses and fees And attorney's fees, and the rulings were issued by agreement definitively and binding on all authorities and understand publicly On 7/8/2023.
Loyal Earlier today, the Federal Supreme Court announced the resolution of the Kurdistan Regional Government's appeal by the Budget Law.
said Informing the Federal Supreme Court, in a statement received by Shafaq News Agency, that the court considered This day in the lawsuit numbered (168/Federal/2023) filed before it by the plaintiff (President Kurdistan Regional Government / Add to his Job) against the defendant (Speaker of the House of Representatives/ Addendum for his job) to challenge articles of Law No. 13 of 2023 (General Budget Federal Republic of Iraq for the fiscal years 2023, 2024, 2025).
He added The statement that the Supreme Court issued its final and binding decision to all authorities, including the ruling The unconstitutionality of the phrase (and with the approval of the Federal Prime Minister) contained in Article (11/I) and the phrase (in the event that it is not possible to dissolve the House of Representatives, take the necessary decision) contained In Article (13/VII) of the Law.
And spent, The Court, dismissing the lawsuit regarding the challenge to the constitutionality of Articles (2/I/5/b) and (11/II) and (12/II/A, B, C, D, E) and (13/VIII/B) of the Law.
as The Federal Supreme Court announced the resolution of the federal government's challenge to the budget law.
said Informing her in another separate statement, that the Federal Supreme Court considered this day the lawsuit Numbered (153/Federal/2023) filed before it by the plaintiff (Prime Minister/ Addendum for his job) against the defendant (Speaker of the House of Representatives / in addition to his job) for challenging articles of Law No. (13) of 2023 ((Federal General Budget of the Republic of Iraq)) For the fiscal years (2023, 2024, 2025).
The Its final and binding decision to all authorities, including the ruling that the phrase (exclusively) is unconstitutional Contained in Article (2/I/8/ c/6), and the phrase (at his request) in the section The last of Article (16/II), Article (20/VI), and Article (28/IV/A), Article (57/I/C), Article (70/II), and Article (72) of Law No. (13) For the year 2023 ((the federal general budget of the Republic of Iraq for the fiscal years (2023), 2024، 2025)).
as The decision included a ruling to dismiss the plaintiff's lawsuit regarding the challenge to the constitutionality of Articles (28/IV/b). and (62/IV), (63/III), (65/II), (71) and (75) of the above law.
Federal Supreme Court Rejects New Appeals to the Tripartite Budget - Shafaq News
Kurdistan Finance Responds To The Statements Of "False Figures" Regarding The Region's Revenues
2023.08.06 Baghdad - people The Ministry of Finance of the Kurdistan Region responded, on Sunday, to the statements of deputies in the Iraqi parliament representing the Kurdistan region, and several media outlets, that the delegation of the Kurdistan Regional Government provided Baghdad with "false figures" about the local revenues of the Kurdistan region.
"Nass" channel on Telegram.. our latest updates
The ministry said in a statement, which "NAS" received a copy of, (August 6, 2023), that "there has been a healthy and continuous relationship between the Financial Control Office in the federal government and the Financial Control Office of the Kurdistan Regional Government for nearly two years, and the audits have been approved by Federal and provincial government financial oversight offices.
The ministry added, “On 07/16/2023, a technical team from the Kurdistan Regional Government visited the Iraqi Ministry of Finance to discuss the preparation and submission of the monthly adjusted balance sheet report as required by Iraq on 7/30/2023, they submitted the revised balance sheet report for the month June".
And she continued, “For everyone’s information, the Federal Government Financial Supervision Office and the Kurdistan Region Financial Supervision Office are jointly responsible for auditing and approving the revised monthly balance sheet report, not the Ministry of Finance. It has audited the balance sheet for the past six months, so, it is better for these deputies to contact the side official before talking about an issue and obtaining correct information about it. Ministry of Finance and Economy. 6/8/2023.
The media and social media platforms circulated a statement by the head of the Patriotic Union of Kurdistan bloc, Harim Kamal Agha, in which he said: "The Federal Budget Law for the year 2023 includes mutual obligations by the federal government and the Kurdistan Regional Government."
He added, "The law obliges the federal government to send the salaries of Kurdistan Region employees in exchange for some obligations on the Kurdistan Regional Government, such as the delivery of oil and half of non-oil imports."
He continued, "The government of the Kurdistan region must hand over quantities of oil to the federal government to use for internal use, and at the current stage, the quantity is 50,000 barrels of oil per day."
And he indicated: "The estimation of the proportion of non-oil imports that the delegation of the Kurdistan Regional Government delivered to the federal government regarding federal imports is a very large amount, and the Kurdistan Regional Government cannot collect this amount monthly, as the delegation is the one who made a mistake in estimating non-oil imports," stressing that "their annual volume It amounts to 4 trillion and 500 billion dinars, and this is a large amount that the Kurdistan Regional Government cannot cover."
In addition, former MP Sherwan Mirza said in a press statement, "The delegation of the Kurdistan Regional Government should have informed the federal government of the true volume of non-oil imports instead of presenting the wrong statistics that caused the region's proportion to decrease."
He added, "The error is the fault of the delegation of the Kurdistan Regional Government, and it must provide real statistics to the federal government instead of providing statistics that are greater than the real percentage of the region's imports."
Mirza continued, "If the budget law enters into force, there will be audits for the Kurdistan Region's non-oil imports, after which the Kurdistan Region's share of the budget will be sent."
And between: "The Kurdistan Regional Government must address this problem in the volume of non-oil imports, otherwise it will face major problems in providing employee salaries during the coming months." https://www.nasnews.com/view.php?cat=112256
The Federal Supreme Court Resolves The Appeal Of Baghdad And Kurdistan To The Budget Law
2023-08-07 Shafaq News/ The Federal Supreme Court (the highest judicial authority in Iraq) announced, on Monday, the resolution of the Kurdistan Regional Government's appeal against the budget law.
The media of the Federal Supreme Court said, in a statement received by Shafaq News Agency, that the court considered today the case No. (168 / Federal / 2023) filed before it by the plaintiff (the President of the Kurdistan Regional Government / in addition to his job) against the defendant (the Speaker of Parliament / In addition to his job) to appeal against articles of Law No. (13) of 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025))
The statement added that the Supreme Court issued its final and binding decision for all authorities, which included the ruling on the unconstitutionality of the phrase (and with the approval of the Federal Prime Minister) contained in Article (11/First) and the phrase (and in the event that it is not possible to dissolve the House of Representatives to take the necessary decision) contained in Article (13/ Seventh). ) of the law.
The court decided to dismiss the case regarding the challenge to the constitutionality of articles (2/first/5/b), (11/second), (12/second/a, b, c, d, e) and (13/eighth/b) of the law.
The Federal Supreme Court also announced the resolution of the federal government's appeal to the budget law.
And its media said in another separate statement, that the Federal Supreme Court considered today the case No. (153 / federal / 2023) filed before it by the plaintiff (Prime Minister / in addition to his job) against the defendant (Speaker of Parliament / in addition to his job) regarding the appeal against articles From Law No. (13) of 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025))
And it issued its final and binding decision for all authorities, which includes the ruling on the unconstitutionality of the phrase (exclusively) contained in Article (2 / first / 8 / c / 6), and the phrase (at his request) contained in the last part of Article (16 / second), and Article (20 / Sixth), Article (28 / Fourth / A), Article (57 / First / C), Article (70 / Second), and Article (72) of Law No. (13) for the year 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025)).
The decision also included a judgment dismissing the plaintiff’s case regarding the challenge to the constitutionality of Articles (28 / fourth / b), (62 / fourth), (63 / third), (65 / second), (71) and (75) of the above law. LINK
KTFA Members "News and Views" Monday 8-7-2023
KTFA:
Margarita: just to be positive instead of a negative nancy....a few articles have said budget implementation this week. will the new exchange rate of 1 to 1 be in it? lets hope so.
Ryan1216: Great viewpoint Margarita. Let’s just stay positive. It’s so close and we’re right at the very end. This is a go any moment now. IMO
Clare: The tripartite balancing instructions come into effect
8/7/2023 Baghdad
Today, Monday, the Iraqi Al-Waqa’i newspaper published the tripartite budget instructions that have entered into force.
"The instructions of the tripartite budget law have been published in the Official Gazette," said Hanan Munther Nassif, director general of the Iraqi Gazette.
She added, "The instructions have entered into force." LINK
KTFA:
Margarita: just to be positive instead of a negative nancy....a few articles have said budget implementation this week. will the new exchange rate of 1 to 1 be in it? lets hope so.
Ryan1216: Great viewpoint Margarita. Let’s just stay positive. It’s so close and we’re right at the very end. This is a go any moment now. IMO
Clare: The tripartite balancing instructions come into effect
8/7/2023 Baghdad
Today, Monday, the Iraqi Al-Waqa’i newspaper published the tripartite budget instructions that have entered into force.
"The instructions of the tripartite budget law have been published in the Official Gazette," said Hanan Munther Nassif, director general of the Iraqi Gazette.
She added, "The instructions have entered into force." LINK
Clare: Justice: The budget instructions are considered retroactively effective from 1/1/2023
8/7/2023 Baghdad
Today, Monday (7 August 2023), the Ministry of Justice announced the publication of Instructions No. (1) for the year 2023 to implement the General Budget Law for the fiscal years (2023-2024-2025), retroactively from 1/1/2023 .
The Director General of the Iraqi Facts Department at the Ministry of Justice, Hanan Munther Nassif, said in a statement received by “Baghdad Today”: “Instructions No. (1) for the year 2023 have been published, facilitating the implementation of the Federal General Budget Law of the Republic of Iraq for the fiscal years (2023-2024-2025) No. (13) for the year 2023 in Al-Waqi’ newspaper.
And she added, "Instructions No. (1) for the year 2023 are considered retroactively effective from the date 1/1/2023."
To view the instructions:
[media=https://drive.google.com/file/d/1Jjr9-fH4Wwku3sZwu_Ik2yauhHW3orUo/view?usp=sharing] LINK
Turk182: must have missed it, but I did not see anything in these "Instructions" that said anything about "Activation", "Implementation", "Rate Change" UGH - Thought we were told that these things would occur Immediately upon posting in Gazette? Not trying to be negative, just trying to understand what the new hold-up is now.
DCDriver: Did you honestly think there would be? That’s not how the CBI or any other central bank changes their exchange rate IMO
DoTalktome: We will be last in line to benifit....IMO…..just stay chill...
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Clare: Urgent... The Federal Court resolves the appeal of the government and the region's budget law
8/7/2023
The Federal Supreme Court announced that it has resolved the appeals submitted by the federal government and the Kurdistan Regional Government in the financial budget law.
A statement of the Supreme Judicial Council, of which {Euphrates News} received a copy, stated that: “The Federal Supreme Court considered this day the case No. (153 / Federal / 2023) filed before it by the plaintiff (Prime Minister / in addition to his job) against the defendant (Speaker of Parliament). / In addition to his job) regarding appeal against articles of Law No. (13) for the year 2023 ((The general federal budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025))
And the court issued, according to the statement, “its final and binding decision for all authorities, which includes the ruling on the unconstitutionality of the phrase (exclusively) mentioned in Article (2 / first / 8 / c / 6), and the phrase (upon his request) contained in the last part of Article (16 / second), And Article (20/Sixth), Article (28/Fourth/A), Article (57/First/C), Article (70/Second), and Article (72) of Law No. (13) of 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025).
The decision also included a judgment dismissing the plaintiff’s case regarding the challenge to the constitutionality of Articles (28 / fourth / b), (62 / fourth), (63 / third), (65 / second), (71) and (75) of the above law.
The Federal Supreme Court also considered today the case No. (168 / federal / 2023) filed before it by the plaintiff (President of the Kurdistan Regional Government / in addition to his position) against the defendant (Speaker of Parliament / in addition to his position) regarding the appeal against articles of Law No. (13) For the year 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025))
And it issued its final and binding decision for all authorities, which includes the ruling on the unconstitutionality of the phrase (and with the approval of the Federal Prime Minister) mentioned in Article (11 / first) and the phrase (and in the event that the parliament cannot be dissolved to take the necessary decision) mentioned in Article (13 / Seventh) of the law.
It ruled to dismiss the case regarding the challenge to the constitutionality of articles (2/first/5/b), (11/second), (12/second/a, b, c, d, e) and (13/eighth/b) of the law. LINK
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Clare: The Federal Supreme Court rejects new appeals with the tripartite budget LINK
Turk182: Was this NOT the last thing needed in order to FINALLY IMPLEMENT the Tripartite Budget? No More Obstacles - Smooth Sailing from here on out! Let's Bring that baby Home NOW>
Monday Morning Iraq Economic News Highlights 8-7-23
Monday Morning Iraq Economic News Highlights 8-7-23
What Are The Reasons For The Intransigence Of The American Green In Front Of The Iraqi Dinar? An Expert Answers
Baghdad today – Baghdad Today, Sunday (August 6, 2023), an expert in financial and economic affairs, Nabil Al-Marsoumi, revealed the reasons for the dollar’s exchange rate not depreciating despite the many government decisions. Al-Marsoumi told "Baghdad Today", that "the Central Bank of Iraq has the right to set an administrative rate for the exchange rate of the dollar, but on the ground we should not hope too much, because the bank previously promised the citizen 7 months ago to end the gap between the official rate and the parallel price."
Monday Morning Iraq Economic News Highlights 8-7-23
What Are The Reasons For The Intransigence Of The American Green In Front Of The Iraqi Dinar? An Expert Answers
Baghdad today – Baghdad Today, Sunday (August 6, 2023), an expert in financial and economic affairs, Nabil Al-Marsoumi, revealed the reasons for the dollar’s exchange rate not depreciating despite the many government decisions. Al-Marsoumi told "Baghdad Today", that "the Central Bank of Iraq has the right to set an administrative rate for the exchange rate of the dollar, but on the ground we should not hope too much, because the bank previously promised the citizen 7 months ago to end the gap between the official rate and the parallel price."
He added, "It is not possible to attribute the rise in the price parallel to the speculators' operation, since there is a real demand for that price, because not all travelers are able to obtain dollars at the official rate, especially those who travel to countries banned from the United States."
He pointed out, "The spending of travelers in Iran in 2022 was more than 3 billion dollars, since Iraqi tourists constitute 55% of the total tourists in Iran, and therefore they get dollars from the parallel price."
And Al-Marsoumi indicated, "The demand for dollars from the parallel market is for the purpose of financing trade, especially with Iran, since Iraq imports $10 billion annually with it."
It is noteworthy that the exchange rate of the dollar recorded a rise this evening, Sunday, in Baghdad, and reached 152 thousand dinars per hundred dollars.
The Central Bank of Iraq revealed, last Thursday, new decisions that will be issued next week (current) to reduce the price of the dollar in Iraq. LINK
The Federal Court Resolves The Appeal Of The Federal And Regional Governments To The Budget Law
Economy News – Baghdad The Federal Supreme Court (the highest judicial authority in Iraq) announced, on Monday, the resolution of the Kurdistan Regional Government's appeal to the budget law.
A statement to inform the Federal Supreme Court, which was received by "Al-Iqtisad News", stated, "The court considered this day the case No. (168 / Federal / 2023) filed before it by the plaintiff (President of the Kurdistan Regional Government / in addition to his job) against the defendant (Speaker of Parliament / in addition to (13) for the year 2023 ((the federal general budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025))”.
The statement added, "The Supreme Court issued its final and binding decision for all authorities, which includes the ruling on the unconstitutionality of the phrase (and with the approval of the Federal Prime Minister) contained in Article (11/First) and the phrase (and in the event that it is not possible to dissolve the House of Representatives to take the necessary decision) contained in Article (13/ VII) of the law.
The court decided to dismiss the case regarding the challenge to the constitutionality of articles (2/first/5/b), (11/second), (12/second/a, b, c, d, e) and (13/eighth/b) of the law.
The Federal Supreme Court also announced the resolution of the federal government's appeal to the budget law.
And its media stated in another separate statement, that the Federal Supreme Court considered this day the case No. (153 / federal / 2023) filed before it by the plaintiff (Prime Minister / in addition to his job) against the defendant (Speaker of Parliament / in addition to his job) regarding the appeal against articles From Law No. (13) of 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025))
And it issued its final and binding decision for all authorities, which includes the ruling on the unconstitutionality of the phrase (exclusively) contained in Article (2 / first / 8 / c / 6), and the phrase (at his request) contained in the last part of Article (16 / second), and Article (20 / Sixth), Article (28 / Fourth / A), Article (57 / First / C), Article (70 / Second), and Article (72) of Law No. (13) for the year 2023 ((The Federal General Budget of the Republic of Iraq for the fiscal years (2023, 2024, 2025)).
The decision also included a judgment dismissing the plaintiff’s case regarding the challenge to the constitutionality of Articles (28 / fourth / b), (62 / fourth), (63 / third), (65 / second), (71) and (75) of the above law. Views 15 08/07/2023 - https://economy-news.net/content.php?id=35541
Baghdad and London are discussing Iraq's steps in joining the international financial system
Money and business Economy News – Baghdad Finance Minister Taif Sami discussed with the British Ambassador to Baghdad, Stephen Hitch, on Sunday, the development of joint cooperation in the field of economy, the exchange of experiences, and Iraq's steps in joining the international financial system.
The Ministry of Finance said in a statement, "The Minister of Finance, Taif Sami Muhammad, received today, Sunday, the British Ambassador to Baghdad, Stephen Hitch, and his accompanying delegation.
The two parties also discussed "mechanisms of joint cooperation in the field of supporting financial and banking policies, building human capacities, discussing Iraq's steps to engage in the international financial system, and the most prominent procedures and reforms that the government is taking in the field of the banking and financial sector, in a way that contributes to enhancing economic development in Iraq." Views 149 08/06/2023 - https://economy-news.net/content.php?id=35523
Parliamentary Finance Intends To Meet The Sudanese On The Dollar Crisis
2023-08-06 | Source: Sumerian 767 views The Finance Committee intends to meet with the Prime Minister and host officials in the Ministry of Finance and leaders of the security services to discuss measures to curb the smuggling of foreign currency, while deputies stress the need for independence of government procedures.
The first meetings and hosts increase as the dollar bill rises against the dinar. Parliamentary Finance intends to meet the Prime Minister and host officials in the Ministry of Finance and leaders in the security services to discuss measures to limit the smuggling of hard currency abroad, while deputies stress the need to intensify government efforts to limit the aggravation of the crisis.
Representatives say that some banks and outlets are politically protected, as all measures taken by the government against the dollar are useless. LINK
Parliamentary Committee: Delaying Budget Instructions And Implementing Its Provisions Is A Defect
Iraq 10:45 - 2023-08-07 Today, Monday, the Foreign Relations Committee confirmed that delaying budget instructions and implementing its provisions is a defect, and the government must expedite all tools and mechanisms that lead to services.
A member of the Foreign Relations Committee, Representative Haider Al-Salami, said in a press statement, "The government of Prime Minister Muhammad Shia'a Al-Sudani is raising the slogan of services, and that services depend on the responses of the budget."
He pointed out that "the delay in budget instructions and the implementation of its provisions is a defect, and the government must expedite all tools and mechanisms that lead to services," pointing out that "the central and southern governorates suffer from poor services and are awaiting budget instructions to start projects."
He explained that "there is also a delay in the file of project referral and monitoring, in addition to the food security projects that were approved more than a year ago," calling on the prime minister to hold the governors accountable for delaying the implementation of the provisions and the implementation and completion of projects, otherwise the slogan of services raised by the government will be a media slogan. https://kirkuktv.net/AR/Details/16722
"Tidbits From TNT" Monday Morning 8-7-2023
TNT:
CandyKisses: Urgent…Iran: Iraq paid off part of its debts and its amounts were transferred to a third country
{Economic: Euphrates News} The Iranian Foreign Ministry announced that Iraq paid part of its debts to Iran for supplying gas to it.
“This money has been transferred to a third country,” an Iranian foreign ministry spokesman said at a press conference today, stressing that “technical talks will continue on that.”
Last month, the US State Department announced that part of Iran’s money in Iraqi banks would be transferred to Oman.
These funds will be held in Oman, but Iraqi restrictions on these funds will also apply in Oman and these funds can only be used for humanitarian and non-sanctioned purposes, and any transfer must be approved by the US Treasury Department," she said.
TNT:
CandyKisses: Urgent…Iran: Iraq paid off part of its debts and its amounts were transferred to a third country
{Economic: Euphrates News} The Iranian Foreign Ministry announced that Iraq paid part of its debts to Iran for supplying gas to it.
“This money has been transferred to a third country,” an Iranian foreign ministry spokesman said at a press conference today, stressing that “technical talks will continue on that.”
Last month, the US State Department announced that part of Iran’s money in Iraqi banks would be transferred to Oman.
These funds will be held in Oman, but Iraqi restrictions on these funds will also apply in Oman and these funds can only be used for humanitarian and non-sanctioned purposes, and any transfer must be approved by the US Treasury Department," she said.
https://alforatnews.iq/news/إيران-العراق-سدد-جزءاً-من-ديونه-وتم-نقل-مبالغها%C2%A0الى-دولة-ثالثة
Tishwash: Headed by the Minister of Defense.. A high-ranking Iraqi security delegation visits Washington
Today, Monday (August 7, 2023), the spokesman for the Commander-in-Chief of the Armed Forces announced that a delegation from the Iraqi Ministry of Defense has begun a visit to the United States of America, while pointing out that the delegation will discuss the future of the relationship between Iraq and the international coalition.
Major General Yahya Rasool said in a statement received by "Baghdad Today", that "at an official invitation from the US Department of Defense (The Pentagon), a high-level delegation headed by Iraqi Defense Minister Thabet Muhammad Al-Abbasi began a visit to the United States of America, noting that" the delegation includes the head of the security apparatus Combating Terrorism, First Lieutenant General Abd al-Wahhab al-Saadi, Chief of Staff of the Army, Lieutenant General Abdul Amir Rashid Yarallah, Special Forces Lieutenant General, Lieutenant General Qais al-Muhammadawi, Deputy Commander of Joint Operations, and a number of advisors and officers.
He added, "During this visit, the delegation will hold several meetings to discuss a number of issues, foremost of which is the future relationship of the presence of the international coalition, bilateral security cooperation between Iraq and the United States, and the exchange of experiences and information, especially in the intelligence aspect in pursuing the remaining elements of the terrorist gangs of ISIS."
And the spokesman for the Commander-in-Chief added, "The visit also includes holding a series of meetings and conferences with officials in the US Department of Defense in a way that serves the common interests between the two countries link
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CandyKisses: Will you move to Iraq? Great demand for gold in Istanbul due to the rise of the dollar
A report by Wall Street Journal journalist Jared Malsen revealed that many Turkish traders tend to inject money into foreign currencies, gold and cryptocurrencies, due to the deterioration in the value of the local currency, the lira, which has lost more than 80 percent of its value in the last five years.
Citing traders in Istanbul's Grand Bazaar, Malsen says there is an "atmosphere of panic" where "people think the dollar is going to rise, so there is higher demand right now."
The dollar exchange rate in Turkey on Monday is 27 liras.
The Wall Street Journal journalist quotes gold traders in Istanbul as saying that there has been a significant increase in the demand for buying the precious metal.
Buyers use gold as a "financial instrument," according to traders Malsen spoke to.
Turkey's economic turmoil has put pressure on merchants in the bazaar, who have played a central role in the economy since the construction of the vast covered market during the days of the Ottoman Empire more than five centuries ago.
Gold traders worry that the profits from the high demand for the metal do not offset the negative impact of the turmoil in the Turkish economy.
Turks and other traders have to deal with a complex web of rules imposed by the government in recent years to scare foreign currency and prevent the country from descending into bankruptcy.
These rules include a rule forcing companies to convert 40% of their foreign currency profits into lira, according to the report.
According to many economists, the lira's collapse is the result of an era of economic mismanagement by Turkish President Recep Tayyip Erdogan.
Erdogan has in recent years pressured the central bank to cut interest rates despite the country's high inflation rate — the opposite of what central banks usually do.
Erdogan has tried to reverse course since winning a close election in May in which his opponents attacked him over Turks' purchasing power and many cut meat, fish and even vegetables, according to the Wall Street Journal.
Analysts say the newly appointed central bank governor, Hafiz Jay Erkan, and Finance Minister Mehmet Şimşek raised interest rates, but too slowly to control inflation.
The Turkish lira continued to fall after the central bank meeting in July, in which officials decided to raise interest rates by just 2.5 percentage points, a move that slowed the pace of rate increases and put the lira under further pressure.
The decision disappointed some economists and investors who had hoped Şimşek and Erkan would be more decisive on tackling inflation, according to the report.
It is noteworthy that Iraq has been witnessing for more than two weeks a rise in the exchange rate of the dollar, where it currently exceeds 1500 dinars, so will gold be a safe haven for citizens in the face of fluctuations in the price of foreign currency?
Mot: Here We Goooo Again - sooo I'm ~~~~
Mot: How True!! -- How True!!!
Late Sunday Night Iraq Economic News Highlights 8-6-23
Late Sunday Night Iraq Economic News Highlights 8-6-23
The Dollar Crisis On The Sudanese Table And The Iraqi Parliament
2023-08-05 04:02 Shafaq News/ The Parliamentary Finance Committee revealed, on Saturday, an upcoming meeting with the Prime Minister, Muhammad Shia'a Al-Sudani, to discuss the reasons that led to the rise in the exchange rate of the dollar and the government's measures to confront the crisis.
Committee member Yahya Al-Muhammadi told Shafaq News agency, "The Parliamentary Finance Committee hosted the Governor of the Central Bank, Ali Al-Alaq, to discuss the reasons for the rise in the exchange rate of the dollar against the Iraqi dinar in the market, and the procedures and decisions issued by the Central Bank to confront the crisis."
Late Sunday Night Iraq Economic News Highlights 8-6-23
The Dollar Crisis On The Sudanese Table And The Iraqi Parliament
2023-08-05 04:02 Shafaq News/ The Parliamentary Finance Committee revealed, on Saturday, an upcoming meeting with the Prime Minister, Muhammad Shia'a Al-Sudani, to discuss the reasons that led to the rise in the exchange rate of the dollar and the government's measures to confront the crisis.
Committee member Yahya Al-Muhammadi told Shafaq News agency, "The Parliamentary Finance Committee hosted the Governor of the Central Bank, Ali Al-Alaq, to discuss the reasons for the rise in the exchange rate of the dollar against the Iraqi dinar in the market, and the procedures and decisions issued by the Central Bank to confront the crisis."
He added, "The committee will meet with Prime Minister Muhammad al-Sudani to discuss the government's procedures and decisions issued by it and the Central Bank to solve the dollar crisis."
Al-Mohammadi said, "The committee will also host officials in the Ministry of Finance, Tax and Customs, and leaders in the security services, to talk about their procedures and limit the smuggling of foreign currency abroad."
In early August, Prime Minister Muhammad Shia' al-Sudani revealed the details of the dollar crisis, which he described as a "battle", announcing at the same time the arrest of a network of "major speculators" linked to speculators in the Kurdistan Region. LINK
Iranian Anger At Tishreni's Deputy's Statements About Transporting US Dollars By Truck Across The Border And Counterfeiting Iraqi Dinars In Argentina
Policy 05/08/2023 Number of readings: 222 Baghdad-Iraq today: The spokesman for the Iranian Petroleum Products Exporters Union, Hamid Hosseini, called on the Iraqi authorities to take a position on the accusations leveled by a deputy in the Iraqi parliament against Iran regarding the Iraqi currency and converting it into dollars.
Hosseini said, in a press statement, that: "Iraqi MP Muhammad Nuri Aziz, a member of the Finance Committee in the Iraqi parliament, made strong accusations against Iran on a television program."[/rtl]
He added, "The accusation is not that the dinar goes from Iraq to Argentina and then returns and turns into dollars. Rather, it claimed that Iran prints Iraqi dinars in Argentina, converts them into dollars in Iraq and sends them to Iran."
He emphasized, "This type of accusation is present in the nationalist and Baathist discourse."[/rtl]
Hosseini stressed that these statements are not just an economic accusation, "and in view of the recent cooperation by some Iraqi parliamentarians with the United States against Iran, it seems that these accusations are the basis for more serious disputes in the future."
A spokesman for the Iranian Petroleum Products Exporters Union said that his country "provided the greatest amount of support to the Iraqi government, worked for its security and delayed payment of its dues for exporting electricity and gas to Iraq for years in order to help establish security in Iraq, because Iraq's security is Iran's security, but it must follow up on this accusation and hold him accountable.”[/rtl]
Hosseini called on Parliament and the Central Bank of Iraq to take a stand on these accusations, and also called on the Iranian embassy to follow up on the matter.
He added: If someone says such words in the Iranian parliament, all of Iraq will take a stand. We expect to see the position of the Chamber of Commerce, the Central Bank, the parties and the Iraqi parliament in this regard.
A few days ago, a member of the Parliamentary Finance Committee in the Iraqi Parliament, Representative Muhammad Nuri Aziz, claimed that millions of Iraqi dinars were printed in Argentina, then exchanged for US dollars and sent by trucks to Iran.
And a member of the Parliamentary Finance Committee, Muhammad Nuri Aziz, said on a television program broadcast by an Iraqi satellite channel, about the dollar crisis and exchange rates, that “Iran prints the Iraqi dinar in Argentina to buy the dollar, and then the Iraqi dinar is burned.”
He also went on to say that the smuggling of dollars “has been done by trucks since the days of the Al-Kazemi government and continues until this moment,” according to him. LINK
Al-Moussawi Reveals The Scenes Of The Political Agreement On The Oil And Gas Law
A member of the Parliamentary Oil, Gas and Natural Resources Committee, Zainab Jumaa Al-Moussawi, revealed the details of the political agreement to legislate the controversial oil and gas law.
Al-Moussawi said in a press interview, seen by Taqaddam, that: “The meeting of the Prime Minister, Muhammad Shia’ al-Sudani, is very important, especially with regard to the oil and gas law, as it resulted in a decision to form a committee in order to draft the oil and gas law, and it was represented by the Minister of Oil and the Minister of Natural Resources in the region.
Kurdistan and the advanced cadres in the Iraqi Ministry of Oil, especially the national SOMO company concerned with exporting crude oil.
And she added, “As this committee works to draft the oil and gas law; In order to be fair in the distribution of natural resources,” she explained, “the oil and gas draft law that has been pending for many years is one of the basic and important laws and represents a factor of strength and unity for Iraq. in the country".
Al-Moussawi stressed, "The law will regulate the method of extracting oil and natural minerals that are produced within the borders of the Iraqi state, including the Kurdistan region, as well as regulating oil revenues according to the interpretations of the Iraqi constitution in the section on the distribution of natural resources."
And she added, "This law could end the differences between the Baghdad and Erbil governments that resulted in the distribution of oil extraction revenues." https://takadum-news.com/archives/177090
Planning: Budgeting Mechanisms Will Be Released This Week
Political | 09:44 - 06/08/2023 Baghdad - Mawazine News The Ministry of Planning confirmed that the budget mechanisms will be issued this week, and many lagging projects will see the light at the end of this year and the beginning of the next.
Maher Johan, Undersecretary of the Minister of Planning for Technical Affairs, said, "The budget did not linger or stall, but after the approval of the budget law in its final form and the corrections that were made to it by the House of Representatives and the government, we met during the past two weeks officials of the ministries and governorates and developed quick plans to serve the implementation of projects."
He explained, "We cannot finance projects in an advance manner, and we must finance according to what has been ratified and approved in the budget law, by finding a legal basis for issuing instructions that will be published in the Iraqi Gazette and issued at the end of this week as a maximum."
Johan pointed out that "the government program stresses the implementation of service projects that are quick to complete as soon as possible, so the bulk of the budget will be for the completion of strategic projects related to infrastructure, such as sanitation, health, education, and electricity projects," stressing that "these projects are not few."
And if they are completed, they will achieve a qualitative leap in the service reality, and quite a few of these projects will see the light at the end of this year, but in the next year, work will continue to complete the lagging projects. https://www.mawazin.net/Details.aspx?jimare=232767
An Expanded Government Meeting To Discuss The Draft Oil And Gas Law Comes Out With Recommendations
Political | 10:50 - 05/08/2023 Baghdad - Mawazine News On Saturday, the Oil Ministry announced the details of an expanded meeting to discuss the draft oil and gas law, while noting that the meeting came out with recommendations.
And the Ministry of Oil stated in a statement, which Mawazine News received a copy of, that “based on the package of legislative reforms that came in the government curriculum, specifically what came in the twenty-third axis regarding the preparation of the draft oil and gas law, and based on the directive of the Prime Minister, Muhammad Shia’ Al-Sudani, to expedite the completion of this project.”
With the participation of all relevant parties in this strategic national project, a meeting was held today in the presence of the two deputy prime ministers (Minister of Foreign Affairs - Minister of Oil), the delegation of the region, the governors of the oil-producing provinces, the prime minister's advisors and the leadership cadre in the Ministry of Oil.
She added, "The meeting dealt with the importance and objectives of this law and the need to complete it as soon as possible, with the participation of the region, the oil-producing governorates, and representatives of the Prime Minister's Office." The Ministerial Council voted on by the House of Representatives, as well as being the mainstay for investing oil and gas wealth in the best international practices and in a manner that secures the interest of all the Iraqi people.
She indicated that "the meeting resulted in the following recommendations:
1- Forming committees to follow up on this issue and organizing subsequent meetings.
2- A working paper is presented by the committees on the basis of the vision presented by the ministry, the Kurdistan Regional Government and the producing provinces in light of the discussions that took place during the meeting and the previous discussions to be studied by these committees in order to prepare the final draft of the oil and gas law. https://www.mawazin.net/Details.aspx?jimare=232762
Budgeting Mechanisms Will Be Released This Week
The first 2023/08/06 Muhannad Abdel Wahhab The Ministry of Planning stated that the budget mechanisms will be issued this week, and that many lagging projects will see the light at the end of this year and the beginning of the next. And the Deputy Minister of Planning for Technical Affairs, Maher Johan, said, in an interview with "Al-Sabah", that "the budget did not linger and was not disrupted, but after the approval of the budget law In its final form and the corrections made to it by the House of Representatives and the government, we met during the past two weeks with officials of ministries and governorates and put together quick plans to serve the implementation of projects.
The budget law, by finding a legal basis for issuing instructions that will be published in the Iraqi Gazette and issued at the end of this week as a maximum.Johan pointed out that "the government program stresses the implementation of service projects that are quick to complete as soon as possible, so the bulk of the budget will be for the completion of strategic projects related to infrastructure, such as sanitation, health, education, and electricity projects," stressing that "these projects are not few."
And if they are completed, they will achieve a qualitative leap in the service reality, and quite a few of these projects will see the light at the end of this year, but in the next year, work will continue to complete the lagging projects. Edited by: Wael Al-Malook https://alsabaah.iq/81789-.html