Iraqi News

Tuesday Morning Iraq Economic News Highlights  4-4-23

Parliamentary Finance: The General Budget Included These Details

Tuesday 04, April 2023 08:13 | Economical Number of readings: 253  Baghdad / NINA / – The Parliamentary Finance Committee announced details of the draft federal budget law, which will be presented for first reading in the agenda of the Parliament session tomorrow, Wednesday.

The head of the committee, Representative Atwan Al-Atwani, said, in a televised statement, that “the 2023 budget included dealing with the file of those whose contracts were terminated in the security ministries and examiners in the Ministry of Defense, and it also included fixing contracts and lecturers, as well as disbursing a monthly financial grant to university and school students.”

Deputy Expects To Pass The General Budget After Making Minor Changes

Tuesday 04, April 2023 08:15 | Economical Number of readings: 294

Baghdad / NINA / – The representative of Basra Governorate, Ali Shaddad, expected the possibility of passing the tripartite budget law in Parliament, while pointing out that “it may witness some partial changes.”

Shaddad said, in a press statement, that “the Parliamentary Finance Committee discussed the basics of the draft general budget law with the Minister of Finance and in the presence of the First Deputy Speaker of Parliament,” pointing out that “the session tomorrow, Wednesday , will witness the first reading of the general budget law.”

Shaddad expected that “the budget law sent by the Council of Ministers will witness some minor changes, but it will be passed by the House of Representatives.”

The Budget.. Hopes That It Will Be Approved Quickly

The first  04/04/2023  Abdul Rahman Ibrahim    With the House of Representatives’ direct decision to read the draft budget law for the years 2023, 2024, and 2025, within the agenda of its next session, which will be held tomorrow, Wednesday, at nine o’clock in the evening, hopes arose to vote on it and approve it quickly.

The decision to proceed with its first reading was preceded by an expanded meeting held by the Parliamentary Finance Committee, yesterday, Monday, chaired by First Deputy Speaker of Parliament Mohsen Al-Mandalawi, in the presence of Finance Minister Taif Sami.

The meeting discussed the provisions of the draft law to be read for a first reading during the next session, as Al-Mandalawi stressed the need to include the paragraph of allocations for fixing contracts on permanent owners within the draft law, and to consider it a priority, as well as focus on increasing allocations for service aspects.

In his office, the First Deputy held a private meeting with the Chairman of the Finance Committee, Atwan Al-Atwani, and the Minister of Finance. To discuss some fine details of the draft budget law, especially the operational and investment budgets, and ways to confront the financial deficit, stressing the importance of taking into account all the important opinions and proposals submitted by the concerned committees, taking into account not prejudice to the operational side, and continuing to implement the service and strategic projects that the citizen aspires to .

Committee member Mueen Al-Kadhimi told the Iraqi News Agency (INA): “The confirmation of contractors was taken into consideration in the 2023 budget through the job grades that were created in the Ministry of Finance, including 28 thousand job grades for lecturers and 74 thousand grades for higher and first degrees, and so on with regard to electricity contracts, the Baghdad Municipality and departments.” other self-financed ones.

And he indicated that “the salaries of employees, who numbered approximately 4 million employees, amount to approximately 58 trillion dinars.”

Erbil And Baghdad Sign An Oil And Gas Agreement And Grant The Kurds The Position Of Deputy Director Of {SOMO}

Time: 04/04/2023 13:19:42  Read: 975 times  {Politics: Al Furat News} Today, Tuesday, the federal government signed an agreement with the Kurdistan Regional Government regarding the export of the region’s oil.

And Kurdish media reported that “an agreement on exporting Kurdistan Region’s oil was signed today between Prime Minister Muhammad Shia’ al-Sudani and the head of the regional government, Masrour Barzani.”

And she added, “The agreement includes granting the Kurds the position of deputy general manager of SOMO.”

For his part, Prime Minister Muhammad Shia al-Sudani said, during a press conference he held with Barzani in Baghdad, that stopping the oil of the Kurdistan Region had a negative impact on Iraq, stressing that we are working on preparing the oil and gas law to proceed with its legislation.

This morning, Masrour Barzani arrived in the federal capital, Baghdad, at the head of a high-ranking delegation from the regional government.

Upon his arrival, Masrour Barzani held a meeting with Al-Sudani, discussing a solution to the problems between the region and the federal government, especially discussing the final stages of the agreement on the oil file and the resumption of the region’s oil exports.

Meanwhile, Reuters quoted official sources as saying that the Iraqi federal government and the Kurdistan Regional Government had reached a final agreement to resume oil exports, to be announced on Tuesday.   LINK

Oil Expert: Voluntary Production Cuts Are In The Interest Of “OPEC +” Countries And Deter US “Manipulation” Of Prices

Iraqi oil expert Hamza Al-Jawahiri revealed, on Monday, that the voluntary reduction of crude production by some “OPEC +” countries, including Iraq, had a positive effect on prices.

Al-Jawahiry said in a press interview, which was seen by “Takadam”, that “as soon as the OPEC + countries, including Iraq, announced a voluntary cut in their oil production before their meeting today, Monday, this led to an increase in prices by $ 5 a barrel, although the implementation of the cut will be early next month.” .

And that “this increase in the price of oil will go to bridge the difference in the event of a reduction.”

Al-Jawahiri added, “OPEC will not acquiesce to America’s policy, which continued to pump large quantities of oil, which is around one million to one and a half million barrels per day, into the markets from its strategic storage in order to reduce prices and determine these prices according to what it deems appropriate for it.”

He stressed that “controlling prices by America affects the sovereignty of OPEC at its core, as the organization seeks to maintain market balance and price stability at the level of $80 a barrel, which is fair to producers and consumers alike.”

He continued, “OPEC has understood America not to manipulate and control the oil market alone, and that OPEC is responsible for the economy of the countries that are members of it, and it will continue to monitor the markets.” years, and it continues to do so in order to confront OPEC, which is a war-like confrontation.”

And he stressed that “OPEC will continue to monitor the markets, and the voluntary reduction made by the member states is considered a smart step, and Iraq will not be affected by this cut, which is decided at 211 thousand barrels, because the increase in oil prices will cover the reduction and increase.”

Yesterday, Sunday, several oil-producing countries, led by Iraq and Saudi Arabia and 6 other countries affiliated with OPEC +, announced a reduction in their oil production at the beginning of next month, until the end of this year.

And the Iraqi Ministry of Oil announced, on Sunday, that Iraq will voluntarily reduce its oil production by 211 thousand barrels per day from next May until the end of 2023, indicating that its aim is to take precautionary measures to face the challenges facing the global oil market, and to achieve a balance between supply and demand and market stability.

Parliament Finance Reviews The Most Prominent Contents Of The 2023 Budget And “Reassures” The Iraqis

Money  and business  Economy News – Baghdad  On Tuesday, the head of the Parliamentary Finance Committee, Atwan Al-Atwani, issued a statement regarding the draft budget law

Al-Atwani said in the statement, “Since we received the draft budget law from the Presidency of Parliament, we have been discussing and studying it in a manner that takes into account the country’s supreme interests and the rights of all segments.”

He added, “We reassure our people that the 2023 budget focused on the priorities of the government curriculum, which includes upgrading the service side, implementing strategic projects in the field of electricity and infrastructure, completing lagging projects, especially hospitals, as well as building specialized centers to treat heart diseases, cancer, and others.”

The budget also included, according to Al-Atwani, “treatment of the file of those whose contracts were terminated in the security ministries, examiners in the Ministry of Defense, confirmation of contracts and lecturers, in addition to a monthly financial grant for university and school students, and the expansion of social welfare coverage to 650,000 new beneficiaries, and other items that address the demands of segments of society.” Many, in an effort to address the crisis of poverty and unemployment.

Al-Atwani continued, “We affirm our serious endeavor to expedite the completion of the requirements for approving the budget to enable the government to perform its duties and obligations before the people and implement the paragraphs of its ministerial platform.”

Iraq And America Discuss The Mechanism Of Cooperation In The Field Of Transport

Money  and business  Economy News _ Baghdad  The Minister of Transport, Razzaq Muhibis Al-Saadawi, discussed, during his meeting with the Ambassador of the United States of America in Baghdad, Elena Romansky, at the Ministry’s headquarters, the mechanism of cooperation in the field of transportation.

And the Ministry of Transport stated, in a statement received by “Al-Iqtisad News”, that “the Minister of Transport, Razzaq Muhibis Al-Saadawi, received the Ambassador of the United States of America in Baghdad, Elena Romansky, at the ministry’s headquarters.”

The statement added, “During the meeting, the focus was on climate change, and the minister reviewed the ministry’s plans in this regard, by working to find environmentally friendly means of transportation, in a way that contributes to promoting the green economy, which the world is in dire need of.”

He pointed out that “the meeting discussed the various files of the transportation sector, and the possibility of benefiting from major American companies to develop the reality of the work of the sectors, as well as finding mechanisms to enhance bilateral cooperation between Iraq and America in the fields of transportation, as the Ministry of Transport had contracted with the American Boeing to purchase a number of The aircraft are of different models, and the ministry has a contract with the American company GE for the manufacture of engines to maintain the engines of the parked aircraft belonging to the General Company for Iraqi Airways.

In turn, the ambassador expressed her thanks to the minister for the good reception, stressing “her country’s readiness to support the efforts of the Ministry of Transport in developing its services and benefiting from the technological development in the transportation sector in the United States of America.”

“The US administration is looking forward to more exchange and close coordination between the two countries,” the US ambassador affirmed.

The Arrest Of Currency Counterfeiters With 400,000 Dollars In Possession Of Them In Baghdad And Kirkuk

Time: 04/04/2023 12:22:30  Read: 728 times  {Umniah: Al Furat News} Today, Tuesday, the Security Media Cell announced the arrest of 3 persons accused of smuggling and counterfeiting currency in Baghdad and Kirkuk.

The cell stated, in a statement received by {Euphrates News}, that “the detachments of the National Security Agency in Kirkuk governorate, after obtaining judicial approvals, were able to arrest a person in possession of 400,000 dollars that he intended to smuggle.”

In the capital, Baghdad, the cell added, the agency’s detachments “were able to arrest two in a tight ambush and red-handed, as they were seized with large quantities of counterfeit money, east of the capital.”

The statement confirmed, “The statement of the accused was duly recorded and referred with the seized items to the competent judicial authorities to take the necessary measures against them.” LINK