Bondlady’s Corner

Iraqi News Highlights Saturday Afternoon 2-25-23

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Parliament Is Still Awaiting The Budget.. 3 “Urgent” Requirements Depend On It

Posted On2023-02-25 By Sotaliraq   The head of the National Approach bloc, Ahmed Taha Al-Rubaie, called for the need to expedite sending the draft financial budget law for the year 2023 to the House of Representatives for the purpose of its legislation.  Al-Rubaie said in an interview, “We are on the cusp of March, and we are still waiting for the budget to arrive to pass it, because many service projects and programs related to the segments of the poor and others will be linked to approving the budget.”

And he stressed “the importance of the budget and it must be passed, especially since last year did not witness the passing of the budget law, and therefore it has become necessary to send it for discussion and add what can be added in relation to the segments of society or even the possibility of adding new job grades, as there are great entitlements for graduates and citizens that must be obtained.”

Al-Rubaie added, “The budget for the current year will include many projects for the governorates, especially Basra, for which a budget can be allocated that can complete previous projects in it and add projects for the secretions that were previously distributed.”

It is noteworthy that the Prime Minister, Muhammad Shia’ al-Sudani, announced during his attendance at the meeting of the International Administration coalition on February 20 that “there has been great progress in completing the draft federal budget law and its presentation to the House of Representatives for a vote.”

On the same day, the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, announced that “the budget will reach the House of Representatives next week.”   LINK

The decline in the exchange rates of the dollar in Baghdad with the closing of the stock market

Saturday, February 25, 2023 4:31 PM  Baghdad / The National News Center   The exchange rates of the dollar fell against the Iraqi dinar, today, Saturday, with the closure of the main stock exchange in Baghdad.

The correspondent of the National News Center said, “The central Kifah Stock Exchange closed in Baghdad at 152,000 Iraqi dinars, compared to 100 dollars, while it was 152,800 this morning.”

He added, “The buying and selling prices in exchange shops in the local markets in Baghdad decreased, as the selling price reached 152,500 Iraqi dinars, while the purchase prices reached 150,000 dinars per 100 dollars.”

Signing Memorandums Of Understanding Between Federal Trade And Regional Trade

Today, Saturday, the Ministry of Industry and Trade in the Kurdistan region announced the distribution of the dues of the region’s farmers tomorrow, while the Federal Ministry of Trade confirmed the development of alternative plans to provide ration items if the budget approval was delayed.

The Director General of the Ministry, Nawzad Kamel, said in a press conference held today with a number of general managers in the Federal Ministry of Trade, that “an important meeting was held between the Ministries of Federal Trade and Industry and Commerce in the region, where memorandums of understanding were signed and a clarification mechanism was developed to implement these notes in a manner consistent with the citizen Iraqi in all its provinces and the Kurdistan Region, with the employees of the Ministry of the Region enjoying the same rights and duties as the rest of the Iraqi trade employees.

He added that “the farmers’ dues have arrived in the region, and the instruments are now in the banks, and their issuance has been validated,” noting that “as of tomorrow, they will start distributing them in Erbil for the years 2015-2016, amounting to more than 272 billion dinars,” noting that “this file For those years it was completely shut down.”

Meanwhile, the Director General of Grains at the Federal Ministry of Trade, Haider Nuri Jabr, said during the conference, “We discussed ways of cooperation with Kurdistan regarding the food basket, flour and wheat, and how to reach our citizens in the provinces of Kurdistan,” pointing out, “We have studied the obstacles and problems and developed future solutions, especially for employees Kurdistan in the Ministry of Commerce and how to deal with them like our employees in Baghdad and other provinces.

And he stated: “We talked about the food basket and how to deliver it to Kurdistan, and we talked about the issue of wheat for the next season and how the farmers in Kurdistan receive their dues, and we came out with good results,” pointing to “the importance of the farmer for us, whether it is in the region, Baghdad, or any other province.”

While the General Manager of the General Company for Foodstuff Trade, Lama Hashem Al-Mousawi, confirmed during the conference that “the citizen in the region is the same as the citizen in the center, and the ministry took it upon itself to deliver all the ration card materials to Kurdistan from the first day until now,” pointing out that “the citizen in the region reaches him vocabulary The card is like the rest of the citizens of the Iraqi provinces.

And she stressed that “in the event of a delay in the budget, the ministry has drawn up plans in this regard, and the existing materials are within the storage.”

Washington: Iraq Bought US Bonds Worth $18.31 Billion In 2022

Money and business  Economy News – Baghdad

The US Treasury revealed, on Saturday, that Iraq ranked first among the Arab countries that purchased US bonds the most during the past year.

And the ministry stated in a statistic on its official website, that “Iraq bought US bonds during the past year 2022 and from January to December, amounting to 18.31 billion dollars, with a growth rate of 81.38%, and its possession amounted to 40.814 billion dollars, and it ranked first among the Arab countries that were the most purchase of US bonds over the past year.

She added, “The UAE came second by purchasing bonds during one year by $13.7 billion, with a growth of 30.51%, followed by Kuwait by purchasing $2.1 billion, with a growth of 4.53%, followed by Saudi Arabia by purchasing $700 million, with a growth of 0.59%.”

She pointed out that “Saudi Arabia was the most Arab country in owning US bonds with a value of $119.709 billion, followed by the UAE with $58.50 billion, followed by Kuwait with $48.522 billion, then Iraq fourth with $40.814 billion, followed by Oman with $6.860 billion.”

Iraq Calls For Improving The Investment Environment And Developing The Roads And Transportation Sectors Between The Arab Countries

Political | 01:10 – 02/25/2023   Baghdad – Mawazine News,First Deputy Speaker of Parliament Mohsen Al-Mandalawi affirmed, on Saturday, that Iraq has come a long way in achieving victory over terrorism at the security and military levels, while calling for a unified Arab position on many challenges, especially with regard to the file of water security.

Mandalawi said in Iraq’s speech delivered at the thirty-fourth conference of the Arab Inter-Parliamentary Union, which is hosted by the capital, Baghdad, and which bears the title (Arab support for strengthening Iraq’s stability and sovereignty), that “there is the importance of upgrading the economic, commercial and investment reality in the Arab world through the parliaments’ adoption of the necessary legislation.”

necessary in this regard, and the ratification of agreements related to enhancing trade exchange, improving the investment environment, developing the roads and transportation sector between Arab countries, and unifying positions in international forums related to trade and energy,” calling on “brothers to take advantage of the real opportunities for investment that Iraq offers in all fields.” .

He added, “Iraq has come a long way in achieving victory over terrorism, security and military, and is seeking at the current stage to achieve intellectual and cultural victory over all sources and forms of extremism and intolerance that lead to violence,” noting that “everyone must spread a culture of tolerance and acceptance of the other and reject extremist ideas, and that responsibility It is the responsibility of the parliaments to strive to achieve this through the tasks of legislation and oversight, leading to a state of stability, peace and social coexistence.

Al-Mandalawi called for “taking a unified Arab position on many challenges, especially with regard to the file of water security and the rights of Arab countries to protect their water shares from rivers, in addition to providing support to Syria to help it in relief operations and support for those afflicted by the earthquake,” stressing “Iraq’s firm position.”

And supportive of the Palestinian cause, ending the occupation, and establishing an independent state with Al-Quds Al-Sharif as its capital.

Mandalawi affirmed his support for “the efforts of the Arab Inter-Parliamentary Union in implementing the strategic axes of action, especially those related to strengthening coordination, cooperation and joint work between the parliaments on a permanent and continuous basis.”

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