Bondlady’s Corner

Iraqi News Highlights Saturday Evening 3-4-23

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The Stability Of The Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Exchange

Economy  Saturday, March 4, 2023 4:08 PM  Baghdad / The National News Center    The exchange rates of the US dollar stabilized 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 in Baghdad closed at 155,300 Iraqi dinars for 100 dollars, which are the same prices that were recorded this morning.”

He added, “The buying and selling prices in exchange shops in the local markets in Baghdad have stabilized, as the selling price reached 156,250 Iraqi dinars, while the purchase prices amounted to 154,250 dinars per 100 dollars.”

More Than 700 Million Dollars, The Total Sales Of The Central Bank Of Iraq Within A Week

Posted On2023-03-04 By Sotaliraq   The total sales of the Central Bank of Iraq in hard currency dollars during the past week amounted to more than 700 million dollars.

He stated that the Central Bank sold during the past week for the five days in which the auction was opened, starting from Sunday to Thursday, an amount of 727 million and 307 thousand and 546 dollars, at a daily rate of 145 million and 461 thousand and 509 dollars, up by 2.3% from the previous week.

Our correspondent added that the highest dollar sales during the past week were on Tuesday, when sales amounted to 233 million 921 thousand and 34 dollars, while the lowest sales were on Thursday, when sales amounted to 82 million 617 thousand and 564 dollars.

He pointed out that sales went in the form of cash and transfers abroad to finance foreign trade, while the selling price of documentary credits and international settlements for electronic cards amounted to 1,305 dinars per dollar, while the selling price of remittances abroad and the cash sale price amounted to 1,310 dinars per dollar.  LINK

Iraqi Oil Exports To America Increased Last Week

Saturday 04 March 2023 09:51 | Economical Number of readings: 331  Baghdad / NINA / – The US Energy Information Administration announced, today, Saturday, that the average Iraqi oil exports to America increased to 290 thousand barrels per day during the past week.

A report of the administration stated, “The average US imports of crude oil during the past week from eight countries amounted to 5.343 million barrels per day, down by 261 thousand barrels per day from the previous week, which amounted to 5.604 million barrels per day.”

And he continued, “Iraq’s oil exports to America amounted to an average of 290 thousand barrels per day last week, higher than the previous week, in which oil exports to America amounted to 251 thousand barrels per day.”

He explained: “Most of America’s oil revenues during the past week came from Canada with an average of 3.605 million barrels per day, followed by Mexico with an average of 725 thousand barrels per day, and oil revenues from Saudi Arabia amounted to 310 thousand barrels per day, and then Colombia at an average of 143 thousand barrels per day.”

And the administration stated, “The amount of US imports of crude oil from Nigeria amounted to 98 thousand barrels per day, from Ecuador 97 thousand barrels per day, and from Brazil 75 thousand barrels per day, while it did not import any quantity from Russia and Libya.”/ End 8 To

A New Reform Package For The Central Bank Related To The Banking Sector

SATURDAY 04 March 2023 12:04 | Economical Number of readings: 425  Baghdad / NINA / – The Central Bank announced today, Saturday, that the current year will witness a significant, remarkable and tangible development in the banking sector. And while he referred to the tendency to use cash machines and reduce cash, he stressed the existence of a clear commitment in the Anti-Money Laundering Law.

The Deputy Governor of the Central Bank, Ammar Hamad Khalaf, said in a speech during the forum and exhibition of banking and commercial services for merchants and businessmen, that “the banking sector is witnessing clear reforms that started with the pressure of external transfers, and we are continuing reforms at all levels, and there is a reform in electronic payment.”

He added, “The state’s orientation in general is to use cash machines and reduce the use of cash in the process of exchanging the banking sector, which suffers from some old problems,” noting that ”

He continued, “The Central Bank has worked on facilities for financing merchants and external transfer of trade, and there is a clear commitment in the Anti-Money Laundering Law to Financing Terrorism,” pointing out that “the banking sector is the main sector in any economic development, and the infrastructure in the financial sector is a fundamental pillar of any development.” and economic growth.”

He stated that “the current year will witness a significant, remarkable and tangible development for the banking sector and the electronic payment process,” pointing out that “there are extensive procedures within the powers of the Central Bank, but there is also an important aspect that falls on the ground in need of legislation, and therefore the issue of the exchange rate that occupies all citizens and its stability Everyone’s responsibility.”/

A Semi-Final Agreement To Grant Kurdistan A 14% Share Of The Budget

Money and business  Economy News – Baghdad The representative of the Kurdistan Democratic Party, Jay Taymur, revealed, on Friday, that the federal government and the Kurdistan Regional Government had reached a “semi-final agreement” to adopt 14% as a share for the region in the 2023 budget.

Timur said, “The negotiations between the federal government and the Kurdistan Regional Government regarding the 2023 budget have made important strides and currently need to put the final touches, and things are heading to an end.”

He added, “A semi-final agreement between the two parties stipulated the adoption of 14% of the budget for the Kurdistan region, according to the statistics of the Ministry of Planning and the ration card at the Ministry of Trade, which is the closest to its final approval.”

And he continued, “The region demanded 17%, and the federal government set a rate of 12.67%, before agreeing on a rate of 14% to proceed with the draft budget,” adding that “the two parties have an opportunity to end all outstanding files that govern the relationship between Baghdad and Erbil, and the atmosphere is positive between the two parties.”

Taymour expected that “the 2023 budget from the government will reach Parliament soon,” stressing “a vote on it and legislative legislation within a month after its arrival.”

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An Economist Highlights The (Major Challenge) Facing The Sudanese Government

Economy| 10:24 – 04/03/2023    Baghdad – Mawazine News, economist Nabil Al-Marsoumi revealed, today, Saturday, the total non-oil revenues of Iraq in the past year.

Al-Marsoumi wrote on his wall on Facebook: “A step back,  oil revenues for the year 2021 = 96.622 trillion dinars, non-oil revenues for the year 2021 = 12.495 trillion dinars, the ratio of non-oil revenues to public revenues = 11%,   oil revenues for the year 2022 = 154.038 trillion dinars.”

Non-oil revenues for the year 2022 = 7.658 trillion dinars, the ratio of non-oil revenues to public revenues = 5%.

He added, “The decrease in the percentage of non-oil revenues to total revenues from 11% in 2021 to 5% in 2022 is not only related to the significant increase in oil revenues, but also to the significant decrease in non-oil revenues from 12.495 trillion dinars in 2021 to 7.658 trillion dinars.” With a decrease of 39%, which is an indication of the failure of government reform efforts to diversify sources of income in Iraq.

He continued, “This constitutes a major challenge for the Sudanese government in implementing its government program, which refers in one of its paragraphs to reducing the percentage of oil revenue contribution to public revenues to 80%, that is, raising the percentage of non-oil revenues to 20% of public revenues within a period of 3 years.”

Parliamentary Finance: A True Partnership Between The Public And Private Sectors Is Necessary

Political | 01:11 – 04/03/2023  Baghdad – Mawazine News  Today, Saturday, the Parliamentary Finance Committee confirmed its continuation of work on the partnership law between the public and private sectors, while calling on the government to search for non-oil partnerships.

The head of the committee, Atwan Al-Atwani, said, in a speech during the forum and exhibition of banking and commercial services for merchants and businessmen, according to the official news agency, that “this forum and gathering comes to discuss the country’s situation, especially economically,” noting that “there is a problem, but it is not difficult to solve, given that The elements of Iraq’s success and its economic integration are solid, with the necessity of diagnosing the imbalance.

Al-Atwani added, “There is a problem, which is the reluctance of merchants from the platform of the Central Bank, and there are reasons among merchants that must be heard and addressed, and non-oil partnerships must be sought,” stressing that “depending on oil only will keep the problem stuck and continuing.”

He pointed out that “in building the state, it is necessary to search towards achieving sustainable development and economic integration, and oil cannot be harnessed in the development of other sectors to be an essential tributary for building the state.”

He pointed out, “The private sector is a key factor in supplying the budget, and we must take real practical measures to support this sector with regard to facilitating customs and taxes.”

He continued, “We are in the committee working on the partnership law between the private and public sectors, and the state cannot manage all institutions by itself, even the removal of waste, repairing electricity, the telephone network, etc., as a real partnership is necessary with the private sector to carry out this task to relieve pressure on the public sector.” .

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