Iraqi News

Tuesday Morning Iraq Economic News Highlights  2-14-23

Al-Kinani: America Is Ready To Overthrow Governments In Order To Pass Its Projects And Achieve Its Interests

Today 09:32   Political analyst Hussein Al-Kinani saw that America is ready to overthrow the governments, as it did with the government of Adel Abdul-Mahdi when its interests conflicted with the government’s approach to China to implement many projects inside Iraq.   Al-Kinani told Al-Maalooma, “There are economies that control and America imposes its hegemony over them and does not allow them to proceed except after its approval, especially with regard to projects inside Iraq, including European, Russian and Chinese projects.”

He added, “America imposes power and control over money and places restrictions on it through the US Federal Bank, as it allows a certain amount of projects and works to finance them in accordance with what suits its policy.”

And he indicated that “the American administration interferes with economic files and political decisions, as it stood against the government at the time led by Adel Abdul-Mahdi when it established a financial fund with China to implement projects in return for granting it oil and worked to bring down his government.”   LINK

The Patriotic Union Of Kurdistan.. A Continuous Effort To Implement Political Agreements And Solve Problems

Iraq   14:53 – 2023-02-14   Pavel Jalal Talabani is visiting the capital, Baghdad, to meet with the leaders of the political parties, to discuss the situation in the country and to emphasize commitment to the agreements on which the government was formed, in addition to making the constitution a basis for addressing the existing problems.

This affirmation of commitment to the agreements shown by President Pavel Jalal Talabani during all his meetings and gatherings was welcomed and supported by all political parties.

Very important agreements

The leader in the coordination framework, Aed Al-Hilali, told PUKMEDIA: The agreements under which the government was formed within the framework of the State Administration Coalition are very important.

He added: Those agreements are the basic criterion on which the parties under the framework of the State Administration Coalition are working and the government is working on it today.

Violation of agreements negatively affects the performance of the government

Aed Al-Hilali says: Violation of these agreements will negatively affect the performance of the government of Mr. Mohamed Shiaa Al-Sudani. Adding: The Sudanese government has taken very excellent steps, hence the necessity of adhering to those agreements, and violating them will lead to great embarrassment for the government.

The constitution is the criterion for solving problems.

Aed al-Hilali clarifies, saying: Everyone agrees that the constitution is the ceiling under which the political process remains. If we have problems with some articles of the constitution, this does not mean that the constitution is not suitable for running the state.

He added: We have to meet with participants who contribute to the process of accelerating the completion of constitutional entitlements and broken laws that must be speeded up in their legislation, and that we address our problems in accordance with the constitution.

Solidarity to serve citizens

Aed Al-Hilali says: The political parties can join hands and support the government and with a common vision to provide better services to citizens.

He added, “We have to go towards serving the citizens within a unified government that works to extricate Iraq from the many crises it has gone through.”

The agreements are binding on the political parties.

Political analyst Watheq Al-Jabri told PUKMEDIA: The agreements on which the government was formed are very important and binding on the political parties.

He added, “The agreements that have been made, and the governmental curriculum as well, are binding on the government, including the adoption of some laws and the treatment of current crises. These agreements are for the interest of the Iraqi people.”

The constitution is the fixed legal rule.

Wathiq Al-Jabri says: The constitution is the basic legal rule that everyone agrees upon, and even the political forces, when they speak, start from the articles of the constitution.

He added: The constitution is a solution to all problems, and everyone must accept any solutions based on the constitution, which is the ideal solution to all problems.

Political harmony leads to better services.

Wathiq Al-Jabri says: Political agreements and political harmony will certainly lead to accelerating the movement of the government, because some of the government’s tasks are hampered by political differences.

He added: Harmony and agreement between the political forces strengthens the work of the government and works to provide the best services to citizens and change the reality of the country for the better.

The priority of the Patriotic Union is the public interest

. A representative of the Patriotic Union of Kurdistan affirms that the necessity of the Patriotic Union’s presence prompted the active political parties in Iraq to demand a permanent presence of President Pavel Jalal Talabani in Baghdad, and this influential presence of the Patriotic Union in the federal capital extends its roots to the time of the president Mam Jalal.

Gharib Ahmed, a member of the House of Representatives, told PUKMEDIA: “What is gratifying is the continuous efforts of President Pavel and his meetings with the various Iraqi factions, with the aim of implementing the government program and solving problems, and that the National Union, since the start of the current session of parliament and the negotiations to form the government, played a wise role and did not allow With more fragmentation among the political forces, as he was always ready to sacrifice even his entitlements in order to form a strong government in which the principle of partnership would be effectively reflected.

Gharib Ahmed added, “The Iraqi political parties, with all their orientations, consider the Patriotic Union of Kurdistan a difficult figure in the Iraqi political equation,” noting that President Bavel confirmed more than once that the Patriotic Union would have an effective presence in Baghdad, “in order to show everyone that the Patriotic Union is ready To help carry out reforms and form a service government in which all components receive their constitutional and legal entitlements.

The deputy of the Patriotic Union of Kurdistan bloc confirmed that the efforts of the President of the Patriotic Union are not limited to Baghdad only, but that in the Kurdistan Region he is also following the approach of President Mam Jalal in bringing together all spectra, segments and political parties of different orientations and visions, “and this increases citizens’ confidence in the Union more.” The Patriotic Union of Kurdistan, that it will not abandon them and defend their rights, and does not look at issues from a narrow partisan point of view, but that the priority of the Patriotic Union is to achieve the public interest.

Diyala Trade Announces An Increase In Demand For The Dinar By 5% After Dollar Speculation

Today 11:05  The head of the Chambers of Commerce in Diyala, Muhammad Mulla Jawad, confirmed, on Tuesday, the increase in demand for the dinar as a result of the recent dollar crisis, indicating that citizens’ dependence on the dinar increased by 5%.

Mulla Jawad said in an interview with Al-Maalouma, that “wholesale trade, especially internal trade, depends directly and mainly on the circulation of the dollar in the payment of sales, debts, and installments between merchants and companies for many years,” noting that “this phenomenon, despite its many negative aspects, has become a reality in the country.” trade”.

He added, “The recent dollar crisis and its pressure prompted some merchants to re-adopt the dinar in paying sales and debts, down to installments, in a gesture that may expand because it is so far within the 5% range.”

He pointed out that “paying internal trade entirely to the adoption of the dinar to pay sales will lead to a reduction in demand for buying the dollar by up to 50% and thus create relative stability in exchange rates and prevent speculation.”

In the past weeks, the dollar market witnessed an unstable state of frequent rise and fall, which led to LINK

Parliamentary Finance: The Size Of The Budget Exceeds 200 Trillion Dinars

Economie   13:03 – 2023-02-14   A member of the Parliamentary Finance Committee, Representative Faisal Al-Naeli, revealed, on Tuesday, the size of the amounts allocated within the 2023 budget, indicating that the size of the budget exceeds 200 trillion dinars.

Al-Naeli said, in a press statement, that “the general budget for the year 2023 was prepared according to the new exchange rate” 130 “thousand dinars for every 100 dollars.”

He added, “In the coming days, the preparation of the budget will be completed and sent to the House of Representatives,” pointing out that “determining the price of a barrel of oil in approving the 2023 budget at about $70.”

Stressing that “the size of the 2023 budget may reach 200 trillion Iraqi dinars, pending the arrival of the law to parliament.”

The Al-Fateh Alliance had attributed the delay in sending the budget law to the House of Representatives to the differences between the Kurdish poles, while it was likely that the approval of the budget would be postponed until next month.

Sources reveal details of the Iraqi-American understandings regarding the dollar crisis

2023.02.14 – Baghdad – Nas  Political circles are talking about a renewable “grace period” granted by the US Treasury to Iraq regarding the circulation of the dollar, while the government denies these reports. And those circles refer to a series of understandings between Baghdad and Washington that resulted in postponing work on the American platform for a few months.

“Nass” channel on Telegram.. our latest updates

Al-Mada stated in a report followed by “NAS” (February 14, 2023) that among these understandings is related to the fate of the American forces, increasing the oil partnership and opening new fields within what is known as the “strategic agreement” with Washington.

It was remarkable that the central bank’s sales jumped the day before yesterday, Sunday, from the dollar to more than 300 million dollars in one day, which is the most in about 3 months, before it returned yesterday to decline again.

The newspaper’s sources said that “the Iraqi delegation to Washington was able to obtain a period of 3 months that can be extended before entering the SWIFT system (which is a global remittance system).”

During the last grace period, the United States is supposed to monitor Iraq’s commitments to control money smuggling.

And the sources close to the coordination framework that leads the government add that “Iraq presented flexible positions regarding the oil pipeline to Aqaba, and there were previous understandings regarding stopping the bombing of the coalition forces.”

Signs of those understandings had emerged during the first call that took place more than a week ago between Prime Minister Muhammad al-Sudani and Joe Biden, the American president, in which the Jordanian King Abdullah II later participated.

The sources indicated that Iraq “faces two problems: smuggling the dollar and attempts to smuggle stolen Iraqi money abroad to be used later in money laundering operations.”

Iraq pledged during the delegation’s visit, according to the sources, to address these problems, while it will gradually enter the “Swift” system, which needs infrastructure and training.

During the meeting of the Iraqi-American delegation, documents from the US Congress were leaked warning the Washington government against dollar laundering in Iran through Iraqi leaders and senior officials in the financial system.

In turn, Mazhar Muhammad Salih, the financial advisor to the government, denies “the existence of an extension of the American procedures regarding the circulation of the dollar.”

Salih said in a press interview, “Iraq is 100% committed to these conditions, and we have no other solution than commitment and intensification of dialogues.”

Regarding the increase in the central bank’s sales on Sunday, the Sudanese advisor said it was “due to the accumulation of dollar demand and banks’ improvement of their data.”

Regarding the summary of the Iraqi delegation’s meeting in Washington last week, Saleh asserts that “Baghdad will continue to reach understandings and open other aspects of the strategic framework agreement with Washington.”

The government’s policy, led by the coordination framework, towards the United States was the least conservative in the past three years, according to observers’ description.

Since the government took over, operations targeting the US embassy and camps, which have recorded 120 attacks with 300 missiles in the last three years, have suddenly stopped.

Yesterday, Muhammad al-Najjar, the government advisor for investment affairs, said that Iraq would activate “7 inactive items in the strategic agreement” with the United States.

Al-Najjar said in a statement to state television that the delegation’s recent visit to Washington “aims to lay new foundations for cooperation with the United States,” noting that “one part of the strategic agreement between Iraq and the United States is activated, which is the security, intelligence and military part.”

He added, “The situation in Iraq has changed, and Prime Minister Muhammad Shia’ al-Sudani sought to activate most parts of the agreement in order for it to be a new starting point for cooperation between the two countries.”

Al-Najjar said that the agreement with Washington is not only in the security and military aspects, but there are aspects in education, culture, trade and the introduction of “modern technology (…) through the aircraft industry, the agricultural field and food security.”

Finance Is Close To Finalizing The Formulation Of The Budget, And There Are Warnings Of Delaying Its Passage

Posted On2023-02-14 By Sotaliraq  Finance Minister Taif Sami announced, yesterday, Monday, that the ministry is in the process of finalizing work on the federal budget for the current year, while she indicated that the problem of the high price of the dollar was remedied by governmental and popular will. Sami said in her speech at the Seventh Arab Finance Forum, which opened its business in the UAE capital, Abu Dhabi, followed by (Al-Mada), “We sought to pass the food security, development and financial hedging law in the amount of (25) trillion dinars in order to alleviate poverty, achieve financial stability and continue to provide services to citizens “.

Sami added, “The Iraqi government has faced the Corona epidemic by taking several immediate measures to limit its spread through national, mobilization, health and social policies that focused on marginalized social groups and facilitated access to health services and social care, which added these immediate and precautionary measures heavy financial burdens on public money.”

She pointed out that “the Iraqi economy suffers from chronic structural problems, as the rentier nature is still mostly on it, and its recovery depends on oil prices in the global market, which puts the government and its economic and financial institutions on alert to overcome challenges and crises.”

Sami pointed out, “The Iraqi government, headed by Prime Minister Muhammad Shia’a al-Sudani, has adopted an ambitious program on the economic and financial level. During a period of several months, its positive indicators appeared on the life of society and the institutional structure of the state to achieve financial sustainability.”

And she stated: “We are on the verge of ending work with the federal budget for the year 2023, moving towards comprehensive economic reforms in the Iraqi economy, and developing a clear strategy to diversify its economy, raise its revenues, and push development forward.”

Sami explained, “The Iraqi government appreciates the tireless efforts and keenness to enhance economic cooperation between Arab countries and coordinate with partners to serve the economies and investments of those countries.” And she continued, “International relations are based on balance and broadening the base of interests to serve the goals of economic and financial development in the Arab countries.”

Sami warned, to “the challenges that the world faces from the effects of climate change, which have become more dramatic and their repercussions on peoples, which makes it imperative for Arab countries to increase financing, cooperation and investment that help mitigate the effects of climate change.”

Sami expressed “the Iraqi government’s high confidence that the annual financial forum is an important factor in transferring successful Arab and international ideas and experiences, and the lessons it offers from the sustainable development goals for the year 2030 that raise the level of the Arab reality, which is exposed to very serious challenges.”

It is worth noting that the Seventh Arab Finance Forum was organized by the Arab Monetary Fund in cooperation with the International Monetary Fund, with the participation of Arab ministries of finance, governors of central banks and Arab monetary institutions, as well as a number of heads and senior officials and experts from international and regional financial institutions.

And a member of the Parliamentary Finance Committee, Nermin Maarouf, warned against “delaying the approval of the budget, while she called on the Prime Minister to hold an urgent joint meeting between the Finance Committee and the Council of Ministers, including the Minister of Finance, to solve and overcome all problems in the budget law in order to ensure that it is passed urgently within the appropriate period to ensure its implementation and to achieve the aspirations and rights of the Iraqi people of all sects.”

Maarouf explained that “her invitation to hold this meeting comes due to the sensitive and influential circumstances and crises taking place in Iraq and the region in order to fully discuss the budget with the Parliamentary Finance Committee in order to present observations and proposals of the House of Representatives on the budget and its amendment by the government before voting on it in the Council of Ministers.”

And she emphasized that “it will ensure that the budget is not re-balanced. By the House of Representatives to the government and thus speed up the vote on it in the House of Representatives and publish it in the official newspaper and issue instructions for its implementation and circulation to the ministries and government agencies and bodies associated with them.

And Maarouf stressed, “The budget includes the rights and entitlements of all segments of society, which are suspended, most of them due to the delay in sending the budget to the House of Representatives.”

Maarouf went on to say that there is no longer enough time and that next month is the last month to approve and legislate the budget law within the timelines in order to provide the appropriate time to implement its clauses and paragraphs without delay and delay, and thus return most of its sums to the state treasury. The committee confirmed that the budget deficit after reducing the exchange rate of the dollar will be about 35 trillion Iraqi dinars.  LINK