Iraqi News

Friday Morning Iraq Economic News Highlights 2-10-23

Its Volume Exceeded 200 Trillion Dinars.. New Details About The Budget And The Exchange Rate Delay Approval

2023-02-10 02:58   Shafaq News / A member of the Parliamentary Finance Committee, Representative Nermin Maarouf, announced, on Friday, the size of the 2023 budget, noting that it exceeds 200 trillion dinars, while pointing out that the fluctuation of dollar prices and the failure to fix its price in the budget delayed sending it to Parliament.

Maarouf told Shafaq News agency, “The recent changes and the reduction in dollar prices have disrupted or delayed sending the budget from the government to Parliament,” indicating that “the price of the dollar in the budget has not been determined yet after the government decided to reduce its price and circulation to 1,300 dinars per dollar.”

And she pointed out that “changing the price of the dollar and its official approval will determine the budget deficit and its amount, if any, and we are awaiting the official approval of the dollar price in the next budget.”

Maarouf indicated that “the size of the 2023 budget exceeds 200 trillion dinars, and it is awaiting the arrival of the budget to parliament and discussing its doors in detail.”

For his part, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, indicated that there is a controversy about the price of a barrel of oil for the purposes of calculating oil revenues in the general budget for the year 2023, between 65-75 dollars per barrel.

In his interview with Shafaq News agency, Salih said, “We are waiting for the discussion of the budget issue to be launched in the coming days, and for the final opinion of the Council of Ministers, before the draft budget law is presented to the Parliament.”

And the Iraqi government revealed, the day before yesterday, Wednesday, that the Ministry of Finance had begun to re-prepare the general budget for the year 2023 according to the new exchange rate (130) thousand dinars for every 100 dollars.

A source in the government told Shafaq News agency, “The ministry needs some days to prepare a draft law, which will be completed and sent to the Council of Ministers next week.”

The source stressed that “the cabinet needs only one session to discuss and approve the general budget law for the year 2023.” On Tuesday, the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar.   LINK

Foreign Minister: Washington Wants To Help Iraq With Its Economic Problems

2023-02-10  Yes Iraq: Baghdad   Iraqi Foreign Minister Fouad Hussein affirmed that the United States of America wants to help Iraq in order to solve the problems it faces, indicating that there is no problem between Baghdad and Washington.

Hussein said, “The United States of America wants to help Iraq solve its problems,” pointing to “the good relationship between the two countries.”

This came in conjunction with Hassan’s presence in the US state of Washington, on an official visit that will last for days, during which the Iraqi foreign minister will meet a number of the country’s officials, to discuss bilateral relations and joint cooperation in the fields of economy, environment, and energy.

Hussein made it clear that there is no problem between the United States and Iraq, stressing that all parties in the United States want to help Iraq and support its economy.

US Secretary of State Anthony Blinken had told reporters that he was pleased to meet his Iraqi counterpart, and his emphasis on continuing cooperation, especially in the economic field.   LINK

Iraq Thanks The US For Its Support In The Fight Against ISIS

FRI, 02-10-2023, AM 10:36   TAYSEER AL-ASADI   The Iraqi Foreign Minister, Fouad Hussein, confirmed yesterday, Thursday, that his country will continue to work with the American administration, on the basis of building the Iraqi economy.

Yesterday evening, Thursday, the Iraqi News Agency (INA) reported that Fouad Hussein’s statements came during a joint press conference with his American counterpart, Anthony Blinken, during his visit to Washington, DC.

The Iraqi foreign minister expressed his thanks to the United States of America for its support for his country in its war against the “ISIS” organization, stressing the continuation of joint work on the basis of building the Iraqi economy.

For his part, Anthony Blinken said, “The United States is working to strengthen the Iraqi economy and reintegrate it into the region, and this comes within the framework of the strategic framework agreement that connects the two countries,” adding that Washington is very focused. intensively on the economic dimension of that agreement.

Among the special projects that Fouad Hussein discussed with his American counterpart were energy and electricity files within the strategic framework agreement between the two sides, at a time when Blinken said, “Iraq can and must be independent in the field of energy,” noting that US President Joe Biden had a good conversation. With the Iraqi Prime Minister, Mohammed Shia Al-Sudani, a few days ago.

Anthony Blinken stressed moving forward with the Iraqi Prime Minister, with the aim of strengthening the strategic partnership that unites Iraq and the United States.

It is noteworthy that the Iraqi Foreign Minister, Fouad Hussein, arrived in the US capital, Washington, on Wednesday evening, at the head of a high-level government delegation that includes a number of financial and banking figures.

In a previous report by the Iraqi News Agency, it was reported that Hussein would discuss with his American counterpart support for Iraq’s monetary policy and the exchange of financial and banking support between the two countries, in order to enhance the Iraqi government’s vision regarding the exchange rate of the dollar.

Ina / Al-Sudani: We Are Open To All Forms Of Exchange And Business Partnership

February 10, 2023 17 Views   Conscious / Baghdad / ZN  Iraqi Prime Minister Muhammad Shia’ al-Sudani affirmed Iraq’s openness to all forms of trade and economic exchange and partnership.

This came during his meeting with a number of Emirati businessmen and heads of prominent companies, on the sidelines of his official visit to the United Arab Emirates.. according to the reporter of (Iraqi Information News Agency / INA).

The meeting witnessed a review of the available prospects for investment and economic cooperation with Iraq, and the opportunities provided by the government to launch major strategic projects and various infrastructure projects in various Iraqi cities.


The Foreign Minister And His American Counterpart Stress The Need To Strengthen Bilateral Relations And Joint Coordination

Policy  2023-02-10 |Source:  Alsumaria news  Alsumaria News – Politics Deputy Prime Minister and Foreign Minister Fuad Hussein stressed, today, Friday, during his meeting with United States Secretary of State Anthony Blinken, stressing the need to strengthen bilateral relations and joint coordination.

The media office of the Minister of Foreign Affairs stated, in a statement received by Alsumaria News, that the latter “met with the Secretary of State of the United States of America, Anthony Blinken, in the presence of the minister’s assistants and the ministry’s leaders .”

The statement indicated that “during the meeting, common views were exchanged on the most important issues related to bilateral relations,” adding that “Fouad Hussein praised the United States’ support for Iraq, and its continuous fight against ISIS terrorist gangs.”

The Foreign Minister stressed, according to the statement, “the importance of benefiting from the experiences of the United States in various fields, especially the investment sectors, and exchanging vital cooperation in developing monetary and financial policy,” pointing to “the importance of joint work with the aim of building, developing and integrating Iraq’s economy in the region.” He noted “mutual support.

” And cooperation with major American companies at various levels.”

In turn, Minister Blinken stressed “the need to strengthen bilateral relations in light of joint coordination,” expressing the United States’ readiness to cooperate and achieve the desired progress in joint relations.

He pointed out that “the meeting with the Iraqi delegation came at an important moment, to push the vitality of the Iraqi economy, enhance the envisioned integration and integrate it with the economies of the region, and focus on energy and electricity files, to make a qualitative difference in the daily life of the Iraqi people.”

Blinken described that “all of the above is based on the economic aspect of the strategic agreement between the two countries.”    LINK

New Statements By Fouad Hussein From Washington: America Understands Iraq’s Economic Problems

2023.02.10 – Baghdad – Nas  The Iraqi Foreign Minister, Fouad Hussein, said that the United States understands the steps Iraq has taken to achieve economic, financial and monetary reform, according to Al-Hurra.

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Hussein stated in an interview with the American website on the sidelines of his visit at the head of an Iraqi delegation to Washington, which was followed by “NAS” (February 10, 2023), that “the first day of meetings with the American side was fruitful,” and witnessed a discussion of important topics from the Iraqi economy to the fight against ISIS. Islamic “ISIS”.

The economy and energy, in addition to investing in gas, were among the discussions of the first day, and Hussein explained to Al-Hurra that “Iraq is heading to be a gas country in addition to being an oil country.”

The Iraqi official explained that the meetings at the US Treasury focused on monetary policy and the banking field, and “how to deal with some countries that are subject to US sanctions.” He said that US officials showed their understanding of “Iraq’s problems and their support for Iraq’s monetary policy.”

US officials at the US Treasury Department expressed their understanding of Iraq’s problems, its monetary policy and the policy of the Central Bank of Iraq, according to the Iraqi minister.

Hussein stressed that the Iraqi government has a “clear plan to diversify the Iraqi economy,” in addition to encouraging the private sector and building the agricultural and tourism sectors.

On the issue of gas, Hussein explained that the meetings witnessed a discussion about the assistance of US companies and the US government to Iraq in this field, noting that communication with the World Bank and the Monetary Fund continues.

And “there is a plan for the government to diversify sources of income and diversify the Iraqi economy to encourage the private sector and other sectors such as agriculture, in addition to building the tourism sector,” according to the Iraqi minister.

The issue of climate change had a share in the meetings of the Iraqi delegation, and Hussein said that his meeting with John Kerry, the US envoy for climate, dealt with climate change and how to deal in this field, referring to “the presentation of various projects that will be studied.”

The Iraqi delegation, headed by the Minister of Foreign Affairs, will discuss with the US Department of Defense “Pentagon” “American support for Iraq in the field of combating” ISIS “and extremist groups.

The United States has about two thousand military personnel in Iraq to carry out training and advisory missions.

And last month, Iraqi Prime Minister Muhammad Shia al-Sudani considered that his country still at the present time “needs the foreign forces” present in it, most of which are American, according to what was stated in an interview published in the Wall Street Journal.

A high-ranking Iraqi delegation, headed by the Minister of Foreign Affairs and including the Governor of the Central Bank, Ali Al-Alaq, the Minister of Finance, Taif Sami, and officials in the Prime Minister’s Office for Security Affairs, began a visit to Washington, on Wednesday.

On Thursday, US Secretary of State Anthony Blinken said, during his meeting with his Iraqi counterpart, in the US capital, that Washington is focusing on the economic dimension of the strategic framework agreement with Iraq.