Bondlady’s Corner

Iraqi News Highlights Wednesday Evening 4-26-23

Tlm724 Administrator Bondlady’s Corner

The First Bank In Iraq Whose Market Value Exceeds 500 Billion Dinars

Market   Economy News / Baghdad  The market value of the Bank of Baghdad exceeded half a trillion dinars, after its share rose during the past two days.  It is considered the first Iraqi bank to exceed this value, due to the profits it achieved during the past year, which exceeded 53 billion dinars.

The Bank of Baghdad share closed today, 2.6 dinars, down from yesterday by 6.8%, which exceeded the share of 2.79 dinars.

Economist For / NINA /: Iraq Is On The Cusp Of The Fifth Month Without A Financial Budget For Its Economic Sectors

Wednesday 26, April 2023 10:54 | Economical Number of readings: 374  Baghdad / NINA / – The expert in economic affairs, Safwan Qusai, warned today, Wednesday, of the continued delay in approving the budget, while he stressed that most of the state’s ministries are without a financial budget, which negatively affects their performance.

He said in a statement to the National Iraqi News Agency ( NINA ) that “the 2023 budget was late, which reflects negatively on service projects, the operational budget and salaries of state employees, calling for speedy approval.”

He pointed out that “the fiscal year 2023 is on the cusp of the fifth month, that is, half of the fiscal year, and without a budget for it, which leads to a breach in all the budgets of the service ministries and their needs, and a lack of economic production in the country.”

Last month, the Council of Ministers approved the country’s draft general budget law for the year 2023, with a deficit of $48.5 billion, and referred it to parliament for review and opinion before ratifying it and transferring it to the president.

And the media office of the President of the Council stated in a statement, “The Council of Ministers approved the draft federal budget law for the fiscal years 2023, 2024 and 2025,” noting that the budget deficit amounted to 63 trillion dinars (48.5 billion dollars), which it controls.

The deficit will be covered from a group of sources, including the amount transferred in the Ministry of Finance, from the share of treasury transfers in the Central Bank, bonds, internal loans, and other sources.”

Parliament is expected to announce its observations on what was stated in the draft budget, prior to its approval, and submitting it to the President for approval and transfer. to an enforceable law.

The quantities of crude oil exports in the 2023 budget will amount to about 3.5 million barrels per day, of which 400 thousand barrels per day are via the Kurdistan region./ End 8

Parliamentary Finance: We Have Started Meetings To Amend The Budget And Are Studying The Possibility Of Reducing The Deficit

Political | 01:17 – 04/26/2023  Baghdad – Mawazine News  The Parliamentary Finance Committee announced, on Wednesday, that it is studying the possibility of reducing the fiscal deficit in the budget.

The head of the committee, Atwan Al-Atwani, said during the committee’s meeting to discuss the budget, that “the committee began meetings to amend the paragraphs and articles in the budget according to its constitutional authority,” pointing to “the formation of sub-committees in the committee to host executive officials to discuss and study their financial allocations to speed up the process of completing the amendments.”

Al-Atwani added, “The committee is studying the possibility of reducing the financial deficit in the budget,” calling on “the government to adopt productive advisory projects that contribute to supporting the national economy and enhancing non-oil revenues.”

And he stressed the need to support the government and empower the private sector, “stressing” working to make the government’s work a success.

Iraqi Trade Bank: Our customers can make foreign commercial transfers to all countries of the world

Today, Wednesday, the Iraqi Trade Bank issued a statement regarding foreign commercial transfers.

And the media expert of the bank, Aqil Al-Shuwaili, stated in a statement, “Customers of the Iraqi Trade Bank from Iraqi private sector companies can make foreign commercial transfers through the platform of the Central Bank of Iraq to all countries of the world through the bank’s branches through their accounts opened in Iraqi dinars with the bank and are calculated at the official price approved by the bank.” by the Central Bank of Iraq.

The statement added, “The economically restricted countries are excluded from all banking transactions.”

The Decline In The Exchange Rates Of The Dollar In Morning Trading

Economy   Wednesday, April 26, 2023 10:42 am  Baghdad / National News Center  Today, Wednesday, the exchange rates of the dollar against the dinar recorded a decline in the main stock exchange and local markets in the capital, Baghdad.

The correspondent of the National News Center said: “The exchange rate of the dollar for today reached 140,300 Iraqi dinars for every 100 dollars on the stock exchange.”

He added, “The selling price reached 141,000 dinars per 100 dollars, and the purchase price reached 138,000 dinars per 100 dollars in local exchange offices.”

High Oil Prices

Economy| 08:13 – 04/26/2023   Follow-up – Mawazine News  Oil prices rose in early Asian trading today, Wednesday, after data from the sector showed a significant decline in US crude oil inventories ahead of the release of government data.  Brent crude rose 16 cents, or 0.2 percent, to $80.93 a barrel by 0006 GMT.   US West Texas Intermediate crude rose 25 cents, or 0.3 percent, to $77.32 a barrel.

Central Bank Sales Of The Dollar Increased

Economy| 12:22 – 04/26/2023  Baghdad – Mawazine News  The Central Bank’s sales of foreign currency increased in an auction today, Wednesday, recording more than 187 million dollars.


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