Iraqi News Tuesday AM 7-6-21
Parliamentary Finance: Implementing Al-Kazemi’s White Paper Is “Almost Impossible”
Political Tuesday 6 July 2021 | 01:46 PM| Number of readings: 151 A member of the Parliamentary Finance Committee, Jamal Kougar, considered, on Tuesday, that the implementation of the white paper announced by Mustafa Al-Kazemi’s government, is “almost impossible” in light of the political parties’ control of state resources, as he put it .
Cougar said, “The white paper announced by the government earlier was based more on the theoretical side than the practical, and the evidence is that the 2021 budget law that came from the government before it was passed in Parliament was devoid of all its paragraphs from the articles of the paper .”
He added that “the government is talking today about the percentages of achievement related to the implementation of the White Paper. In fact, they are exaggerated rates,” stressing that “the implementation of the White Paper is almost impossible due to the control and domination of some political parties over the state’s resources .”
He explained, “If the government does not leave the control of these parties, the country will not witness an economic recovery. The country’s life will not be achieved through the international community, because these parties control everything and work according to an external agenda that sometimes helps them even by standing against the development of the local product.”
The Stability Of The Dollar Exchange Rates In The Local Markets
Market Economy News _ Baghdad The dollar exchange rates stabilized today, Tuesday, in the local markets. The selling prices of the dollar were 147.250 dinars per 100 dollars, while the purchase prices of the dollar were 146.750 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and its sale price to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. Views 119 Date Added 07/06/2021 https://economy-news.net/content.php?id=25616
A Decrease In The Central Bank’s Sales Of Hard Currency
Economie| 01:40 – 06/07/2021 Baghdad – Mawazine News: The Central Bank of Iraq’s sales of hard currency recorded, today, Tuesday, a slight decline, to record 208 million dollars.
Today, the Central Bank auction for the sale and purchase of foreign currencies witnessed a decrease in its sales by 1.89%, to reach 208 million and 397 thousand and 253 dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar.
The purchases amounting to 146 million and 477 thousand and 253 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 61 million and 920 dollars went in cash. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=159553
The Finance Committee Determines A Way To Dispose Of The Funds Of The Rise In Oil Prices And Increase Revenues
Politica l| 03:19 – 06/07/2021 Baghdad – Mawazine News The Parliament’s Finance Committee confirmed, on Tuesday, that the rise in oil prices and the increase in revenues should go to address the deficit in the federal budget for the year 2021.
A member of the Parliamentary Finance Committee, Shirwan Mirza, said, “The price of a barrel of oil was set in the budget law at 45 dollars, but Prices have now risen to about $76.
He added: “The government should use those revenues generated by the rise in oil prices to fill the deficit in the budget, and it must also send statements of revenue increase to the Finance Committee and ways to use it.”
He explained, “The government can use the revenues generated by the increase in oil prices to bridge the financial deficit or to deliver the revenues to the Central Bank of Iraq to raise the financial reserve.” Ended 29/A43 https://www.mawazin.net/Details.aspx?jimare=159571
“OPEC +”: The Current Agreement On Oil Production Continues As It Is
Pratha News Agency127 2021-07-06 Informed sources in “OPEC +” said that the current agreement to produce oil is continuing, and that the signatory countries are committed to it.
The sources also indicated that the member states of the organization “will decide later on the date of the next meeting at the appropriate time.”
And “Reuters” agency earlier quoted sources confirming that the “OPEC +” meeting, which was scheduled for today, Monday, has been postponed, while a new date has not yet been set amid a Saudi-Emirati dispute.
The row erupted last week when the UAE objected to a proposed extension of production curbs for an additional eight months.
Discussions focused on raising production as of next August, for reasons including curbing prices, which reached nearly the highest level in two and a half years, as Brent crude was traded at $76 a barrel on Monday.
The rise in oil has caused concerns about inflation that could derail the global recovery from the “Covid-19” pandemic.
The “OPEC +” group agreed to reduce production by about 10 million barrels per day from May 2020, to mitigate the impact of the pandemic, with plans to reduce them gradually, to end the cuts by the end of April 2022, as the reductions currently amount to about 5.8 million barrels per day.
Informed sources said, “The UAE agreed with Saudi Arabia last Friday and the rest of the group’s members to increase production by about two million barrels per day from August to December 2021, but it refused to extend the remaining reductions until the end of 2022 instead of the end of April 2022.”
An economist for / Nina /: Oil prices are constantly rising, and the price of a barrel may reach $ 100
Tuesday 06 July 2021 12:15 | Economic Number of readings: 442 Baghdad / NINA / – The economic expert, Abdul Hassan Al-Shammari, confirmed that: Oil prices are constantly rising, and the price of a barrel may reach $100.
He told the National Iraqi News Agency ( NINA ) that: OPEC Plus wants to maintain the current price of a barrel of oil as a remunerative price that serves everyone.
Al-Shammari added that: Maintaining this price needs to raise production according to the needs of consumers so that the price remains stable.
He explained that: Prices are constantly rising, and the price of a barrel may reach $100 during the first half of next year.
Over the past few days, oil prices witnessed a continuous rise, reaching nearly $78 a barrel, due to the non-agreement of the OPEC Plus countries on a specific formula for production and export that meets the needs of producers and consumers./End 3 https://ninanews.com/Website/News/Details?key=914080
The Stock Market Index Declined By 1.14%.
Iraq Stock Exchange Market Economy News – Baghdad The stock index declined in the mid-week session, Tuesday, by 1.14%. During the session, 450.1 million shares were traded at a value of 332.6 million dinars.
The shares of the Ready-made Garments Production Company were the gaining companies, while the shares of Al-Khair Financial Investment Company were the losers.
Foreign investors bought 27 million shares, worth 16 million dinars, after executing 4 deals on the shares of two companies. Views 49 Date Added 07/06/2021 https://economy-news.net/content.php?id=25627