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Just now, DinarThug said:

Parliamentary Finance announces the setting of a new date for voting on the budget

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14th March, 2021

Today, Sunday, the Finance Committee in the Iraqi parliament revealed that the paragraph on voting on the 2021 budget bill has been lifted from the agenda of the council's session for tomorrow, Monday.

A member of the committee, Muhammad al-Shabaki, told Shafaq News, “The Iraqi Council of Representatives has lifted the paragraph on voting on the 2021 budget bill from the council’s session agenda for tomorrow, Monday, and made the vote on the budget next Tuesday.”

And between reticulate; The postponement of the vote on the budget came due to the presence of technical notes on the law, amendments must be made to it and meetings regarding it, and the disagreement over the region’s share is still going on, and that is why it was postponed for one day, in order to reach final solutions, especially with the intention to pass the budget during the week Present".

 

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Parliamentary Finance explains why the budget was not included in the Monday session

 

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14th March, 2021

 

On Sunday, the Parliamentary Finance Committee explained why the 2021 budget bill was not included in the agenda of tomorrow's session, Monday

"The vote on the budget law was supposed to be included in the parliament's agenda on Monday,

but the agenda will be devoted only to completing the vote on the Federal Court law," 

said Majida Al-Tamimi, a member of the Deputy Committee, in an interview with the Iraqi News Agency and followed by Al-Eqtisad News

 

She added, 

"The Finance Committee agreed to hold another meeting to review some of the budget paragraphs in preparation for placing them on the Parliament's agenda this week”.


The Speaker of Parliament, Muhammad al-Halbousi, had announced earlier that the vote on the 2021 Budget Law would be included on Monday's agenda


Earlier, the House of Representatives announced that the vote on the Federal Court law would be completed in Monday's session

 

The Media Department of the House of Representatives said in a brief statement received by "Al-Eqtisad News", yesterday, Saturday, that "the work schedule for the session on Monday, March 15, 2021 includes the completion of the vote on the draft
Federal Court bill. 

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The head of a parliamentary bloc suggests that the dollar exchange rate will change in the 2021 budget

 
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19:30 - 13/03/2021
 
 

Head of Bayariq Al-Khair Parliamentary Bloc, MP Muhammad Al-Khaldi, on Saturday, suggested changing the exchange rate of the dollar in the 2021 budget.

 

Al-Khalidi said to the agency / information /, that 

"the parliamentary pressure to change the exchange rate of the dollar from its current position at 1450 dinars per dollar continued and did not stop, but rather doubled in recent times."

 

He added, 

"The high selling prices of crude oil and the improvement in the general economic situation have made the exchange rate remaining in its current position not compatible with the nature of the economic scene, 

especially since there are large segments of Iraqi society affected by the price due to the high prices of basic materials in the markets."

 

Al-Khalidi said, 

"The continued parliamentary pressure leads to a change in the exchange rate of the dollar in the 2021 budget,

especially since many political forces have begun to realize the importance of the decision,

especially since its justifications have disappeared with the recent rise in crude oil selling prices."

 

Several representative political forces continue their campaign towards restoring the dollar’s exchange rate to its previous position, or at least setting an average price that reduces the financial burden on large segments, including the poor, due to the increase in food prices.

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Representative economics explains the negative effects of raising the dollar’s exchange rate

 

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14th March, 2021


Today, Sunday, 

the Parliamentary Economic Committee clarified some of the negative effects resulting from the raising of the dollar’s exchange rate and its impact on the citizen and Iraq in general,

indicating that some prices have risen by 100%,

and the citizen is no longer able to go about his normal daily affairs.

 

Member of the Deputy Committee, Nada Shaker Jawdat, said in a statement to "Tigris", that "the effects of the rise in the exchange rate of the dollar are disastrous and began to become clearer, especially with the significant increase in imported goods and foodstuffs," noting that "the citizen is no longer able to walk his normal financial affairs Daily."

 

She added that 

"some commodities have risen to more than 100%, while the number of unemployed and the percentage of the poor accelerates due to the government's economic policy, imposing health curfews and other measures."

 

Jawdat indicated that 

"the government and parliament are required to take urgent scientific measures in order to avoid these repercussions and compensate those affected or announce the return of the exchange rate as it was previously to restore the economic situation to relative stability at the very least."

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An economist reveals the annual interest paid by Iraq and determines the importance of high oil

 
An economist reveals the annual interest paid by Iraq and determines the importance of high oil
 

03/14/2021 13:24:00
 
 
Economic expert Basem Jamil Antoine confirmed, today, Sunday, that 
any increase in oil prices will lead to the economic recovery to higher levels in the country,
indicating that the increase leads to reducing the budget deficit and addressing borrowing.
 
 

Antoine told {Euphrates News} that

 "Iraq is more rentier than any other oil-producing country," stressing that 

"any increase in oil prices leads to a good level,

and this in turn is also reflected in reducing the financial deficit in the budget and stimulating the economy." 

 

He added that

"using the differentials in oil prices leads to investment,

job creation and local production." 



Antoine pointed out that 

"Iraq is a lender, and borrowing part of it is not productive,

as it burdens Iraq,

and Iraq pays at least 10 trillion Iraqi dinars annually on the benefits of the office."



The economist went on to say, 

"We need to improve management to use this money to benefit from it, to create a productive sector and reduce dependence on the oil sector."

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Parliamentary Finance expects a new date for approving the budget ... and this is the fate of the abundance of oil

 
Parliamentary Finance expects a new date for approving the budget ... and this is the fate of the abundance of oil
 

03/14/2021 13:31:40
 
 
A member of the Parliamentary Finance Committee, Sherwan Mirza, preferred to vote on the federal budget for 2021 this week.
 

Mirza told {Al-Furat News} that 

"approving the budget is very likely during this week,

within the coming sessions,"

indicating that "the Finance Committee needs another meeting before approving it."

With regard to the price of a barrel of oil, a member of Parliament added, 

"The price of a barrel specified in the budget is a conservative one,

and we do not know how it will become in the coming months." 

He pointed out that

"when there is financial abundance, it goes to cover the deficit."

Earlier, the Speaker of Parliament, Muhammad al-Halbousi, affirmed that Parliament was keen to proceed with the laws suspended in previous sessions, most notably the Federal Supreme Court Law, which was suspended throughout previous sessions. Al-Halbousi indicated that the draft budget law will be in the coming days within the council’s agenda to vote on it.

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Advisor Al-Kazemi: The new projects and their allocations are related to the budget law legislation

image.jpeg.884338f0a0ed8a116eaf0555eba1fe98.jpeg

 

14th March, 2021


Advisor to the Prime Minister for Financial Affairs,

Mazhar Muhammad Salih, confirmed, on Sunday,

that new investments and launching their allocations

depend on the legislation of the Federal Budget Law for the fiscal year 2021.

 

According to the official agency, Saleh said, according to the official agency, that 

"the federal budget is the country's financial plan based on the level of a whole year, 

and a lot of strategic and important decisions depend on its legislation,

especially investment decision-makers and the implementation of related activities at the level of the market and the private sector, 

as well as the settlement of many pending rights that belong to the people 

and the general private sector that prepares and executes government projects and requests.

 

He added that "new investments and launching their allocations totally depend on the approval and enactment of the budget law, especially the implementation of new projects that are listed for the first time and the processes for their referral without delay to the implementers in the business sector and what is related to that in activating the operating cycle of the manpower and material resources ready for use."

 

He explained that 

"the slowdown in approving the budget would lead to a decline in economic activity in achieving the role of spending and its optimization in economic growth,

in particular investment spending and the implementation of other annual programs,

including combating poverty and the main social, educational and technological programs related to the issue."

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15 minutes ago, DinarThug said:

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Parliamentary Finance expects a new date for approving the budget ... and this is the fate of the abundance of oil

 
Parliamentary Finance expects a new date for approving the budget ... and this is the fate of the abundance of oil
 

03/14/2021 13:31:40
 
 
A member of the Parliamentary Finance Committee, Sherwan Mirza, preferred to vote on the federal budget for 2021 this week.
 

Mirza told {Al-Furat News} that 

"approving the budget is very likely during this week,

within the coming sessions,"

indicating that "the Finance Committee needs another meeting before approving it."

With regard to the price of a barrel of oil, a member of Parliament added, 

"The price of a barrel specified in the budget is a conservative one,

and we do not know how it will become in the coming months." 

He pointed out that

"when there is financial abundance, it goes to cover the deficit."

Earlier, the Speaker of Parliament, Muhammad al-Halbousi, affirmed that Parliament was keen to proceed with the laws suspended in previous sessions, most notably the Federal Supreme Court Law, which was suspended throughout previous sessions. Al-Halbousi indicated that the draft budget law will be in the coming days within the council’s agenda to vote on it.

Not this week Mr Finance man, the Kurds an Baghdad gotta agree on the HCL first...

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Barzani's party comments on linking the budget law to the Federal Court


124540949_2760150210904855_7805932622389
 
 
16:52 - 14/03/2021
 
 

On Sunday, a member of the Kurdistan Democratic Party, Sirwan Hassan, expressed his party’s refusal to link the budget law to the Federal Court and vote on its law and the number of its members.

"The general budget is related to people's lives and daily power,

and it must be passed and the region’s share guaranteed,

after we fully adhere to the conditions of the government and the financial committee,

and we have not left a single argument against us," 

Hassan told Al-Maaloumah.

He added that "the Federal Court law can be postponed for several weeks until the budget is passed,

because it disrupted the interests of people and service projects,

but there are political parties trying to blackmail the Kurds, and this we will not accept."

He pointed out that 

"our objection to the Federal Court Law is represented in 3 paragraphs,

and also the percentage of representation that must correspond to the size of the population and the parliamentary weight.

We also reject the vote on the court law parallel to voting on the budget law,

and the two issues must be differentiated."

The political positions varied regarding tomorrow's session of the House of Representatives and the possibility of proceeding with the vote on the budget law, in light of the failure to reach an agreement on the region's share. 

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11 minutes ago, DoD said:

the Kurds an Baghdad gotta agree on the HCL first...


:o 

 

:D  :D  :D 

 

LINK

Deputy: Negotiations with the Kurds on the budget will continue until tomorrow dawn

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14th March, 2021

 

The deputy of the Saeron Alliance, Riyad Al-Masoudi, confirmed today, Sunday,

that negotiations will take place with the Kurdish delegation

and will continue until dawn tomorrow, Monday,

to reach a specific agreement regarding the passage of the budget,

while he indicated that the two most difficult articles in the negotiations are the tenth and eleventh regarding Kurdish oil.

Al-Masoudi said in a statement to "Tigris", that

"the Kurdish delegation will conduct negotiations during the next 24 hours continuously with the parliamentary committees, political blocs, and the leaders of the three parties and presidencies.

The negotiations will continue until Monday dawn, the day the political forces vote on the budget."


He added that "the negotiations may postpone the two articles on the proportions of Kurdistan until more in-depth negotiations are held, and that the threat to pass them by Baghdad with the political majority."

He pointed out that "the drafting of articles ten and eleven are the most difficult in the budget law, as they concern the proportions of Kurdistan and its Muslim oil to Baghdad through SOMO," explaining that 

"there is great political pressure on the Parliamentary Finance Committee to pass the budget as soon as possible."

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Advisor Al-Kazemi: The new projects and their allocations are related to the budget law legislation

 

14th March, 2021


Advisor to the Prime Minister for Financial Affairs, 

Mazhar Muhammad Salih, confirmed, on Sunday, 

that new investments and launching their allocations 

depend on the legislation of the Federal Budget Law for the fiscal year 2021.

According to the official agency, Saleh said, according to the official agency, that 

"the federal budget is the country's financial plan based on the level of a whole year, 

and a lot of strategic and important decisions depend on its legislation, 

especially investment decision-makers and the implementation of related activities at the level of the market and the private sector, 

as well as the settlement of many pending rights that belong to the people 

and the general private sector that prepares and executes government projects and requests.

He added that "new investments and launching their allocations totally depend on the approval and enactment of the budget law, especially the implementation of new projects that are listed for the first time and the processes for their referral without delay to the implementers in the business sector and what is related to that in activating the operating cycle of the manpower and material resources ready for use."

He explained that 

"the slowdown in approving the budget would lead to a decline in economic activity in achieving the role of spending and its optimization in economic growth, 

in particular investment spending and the implementation of other annual programs, 

including combating poverty and the main social, educational and technological programs related to the issue."

 

When this guy talk I pay attention

 

The 2021 Budget is the key to an open market economy.

 

Go Iraq

Go budget 2021

Go international 

Go open market economy 

Go RV

 

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1 hour ago, DinarThug said:

An economist reveals the annual interest paid by Iraq and determines the importance of high oil

 
An economist reveals the annual interest paid by Iraq and determines the importance of high oil
 

03/14/2021 13:24:00
 
 
Economic expert Basem Jamil Antoine confirmed, today, Sunday, that 
any increase in oil prices will lead to the economic recovery to higher levels in the country,
indicating that the increase leads to reducing the budget deficit and addressing borrowing.
 
 

Antoine told {Euphrates News} that

 "Iraq is more rentier than any other oil-producing country," stressing that 

"any increase in oil prices leads to a good level,

and this in turn is also reflected in reducing the financial deficit in the budget and stimulating the economy." 

 

He added that

"using the differentials in oil prices leads to investment,

job creation and local production." 



Antoine pointed out that 

"Iraq is a lender, and borrowing part of it is not productive,

as it burdens Iraq,

and Iraq pays at least 10 trillion Iraqi dinars annually on the benefits of the office."



The economist went on to say, 

"We need to improve management to use this money to benefit from it, to create a productive sector and reduce dependence on the oil sector."

 

LINK

Crude oil prices are on the way to $ 100

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14:59 - 14/03/2021
 

Analysts said that crude oil prices are on their way to highs not seen since 2014.

With the energy sector approaching its best quarter ever, with year-to-date gains of nearly 40%, Craig Johnson, head of technical analysis at Piper Sandler, said, "There are clearly signs of some hikes in additional oil prices."

Johnson said, "I can in fact see a number that could be higher than $ 100 a barrel, within 6 to 12 months from now," according to what he said to "CNBC", and seen by "Al Arabiya.net." He explained that the SPDR Energy Sector Index Fund is also showing signs of rising after the difficult year 2020. He cited a chart of the documents of the 23-stock exchange traded fund, indicating the formation of a technical figure indicating the rise represented by a double bottom and two tops. “We are seeing a multi-year reversal in terms of the performance of the SPDR Energy Fund compared to the S&P 500 and it is clear that there are some very positive trends happening here,” he said. "These are long-term issues and trends that are beginning to unfold."

 

With OPEC likely to keep production stable until at least the summer, Nancy Tengler of Lafer Tegler Investment expects a further rise in oil prices. 

She believes that with the supply not increasing until October, it means that the price of oil can easily rise from its current levels. 
Our expectations are somewhere around $ 80 a barrel for the summer, Tingler said.

For its part, JPMorgan chose Chevron and ExxonMobil among its best picks from among "major oil companies" on Friday, citing increased cost efficiency, and said that the balance sheet leverage could return to pre-epidemic levels this year. 

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52 minutes ago, DinarThug said:

Barzani's party comments on linking the budget law to the Federal Court


124540949_2760150210904855_7805932622389
 
 
16:52 - 14/03/2021
 
 

On Sunday, a member of the Kurdistan Democratic Party, Sirwan Hassan, expressed his party’s refusal to link the budget law to the Federal Court and vote on its law and the number of its members.

"The general budget is related to people's lives and daily power,

and it must be passed and the region’s share guaranteed,

after we fully adhere to the conditions of the government and the financial committee,

and we have not left a single argument against us," 

Hassan told Al-Maaloumah.

He added that "the Federal Court law can be postponed for several weeks until the budget is passed,

because it disrupted the interests of people and service projects,

but there are political parties trying to blackmail the Kurds, and this we will not accept."

He pointed out that 

"our objection to the Federal Court Law is represented in 3 paragraphs,

and also the percentage of representation that must correspond to the size of the population and the parliamentary weight.

We also reject the vote on the court law parallel to voting on the budget law,

and the two issues must be differentiated."

The political positions varied regarding tomorrow's session of the House of Representatives and the possibility of proceeding with the vote on the budget law, in light of the failure to reach an agreement on the region's share. 

 

LINK

In the document ... Parliament's schedule for tomorrow, Monday

 
image.jpeg.87fa8f875f6e41145feac110faf4ea56.jpeg

 
03/14/2021 17:37:52
 
 
The House of Representatives announced its schedule for tomorrow, Monday.
 

According to the schedule issued by the Council's Media Department, Al Furat News obtained a copy of it, that "includes the completion of the vote on the draft law of the Federal Supreme Court, and the vote on Iraq's accession to the Patent Cooperation Treaty of 1970. 


The table also includes the reading of four laws (first and second). }

Among them is the ratification of the air transport agreement between Iraq and Saudi Arabia.

 

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Translation.....

Public session schedule. Monday 10 / March / 2021 Reading verses from the Holy Qur’an
 

(First: Completing voting on the remaining 8 articles).  The year 1990.  (Committee on Foreign Relations).  (Duration). 

Third : The first reading of the draft law on the accession of the Republic of Iraq to the Protocol to amend the Convention on Crimes and some other acts committed on board aircraft.  (Committee on Foreign Relations).  (۴ material). 

Fourth: The first reading of the draft law on the accession of the Republic of Iraq to the joint agreement on the safety of the disposal of spent fuel and the safety of the disposal of radioactive waste.  (Committee on Foreign Relations, Committee on Health and Environment, Committee on Oil, Energy and Natural Resources)  (۲ material). 

Fifth: Report and discussion of the second reading of the draft law on the ratification of the air transport agreement between the government of the Republic of Iraq and the government of the Kingdom of Saudi Arabia.  (Committee on Foreign Relations, Committee for Services and Reconstruction).  (۲ material).  

(The draft law of the Federal Court of Law).  
 

Sixth: Report and discussion of the second reading of the draft law on the accession of the Republic of Iraq to the 2002 Protocol relating to the Protocol for the Suppression of Unlawful Acts against the Safety of Fixed Platforms on the Continental Shelf for the year 18.  (Committee on Foreign Relations).  (۲ Madd). 

Seventh: General discussions (15 minutes). 

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Al-Nusayri calls on the government to support and involve the private sector to achieve economic advancement

 

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13th March, 2021


The banking advisor and member of the International Union of Arab Bankers, Samir Al-Nusiri, called on Saturday the government’s Supreme Committee for Economic Reform, headed by the Prime Minister, to develop, support and involve a vital national private sector that contributes to achieving economic advancement and reform. 

He said in a press interview with "Al-Eqtisad News", that international indicators, reports and expectations of "OPEC Plus" confirm that the instability of oil prices, up and down, will continue in 2021 at prices ranging between (50‐75) dollars per barrel at their best, indicating that according to the data that there is Relative improvement will happen for the years (2022-2023).

 

Al-Nusiri noted that the Iraqi economy, through study, capabilities, and available factors, can overcome the imbalances, deviations, and poor performance in the economic structure and achieve balanced and varied economic and structural reforms of the economy, with the assumption of continuing objective and subjective economic conditions in the country.  

Al-Nusiri emphasized the stimulation, encouragement and support of the real private sector 

in accordance with the government's plan in the reform white paper,

which aims to change the economic approach towards the proper strategic construction of the economy

and to emphasize the adoption of the private banking sector as a lever for the economy 

and end the role of government banks as a basic arm of banking finance 

and create new foundations for balance and joint coordination For the return of banks to their financing and investment role

and their transition from the role of banking to the developmental role.

 

He added that the focus is to move at steady institutional and legislative steps to implement the strategy for developing the private sector (2014 - 2030) and in accordance with the vision of Iraq 2030 based on the provisions of Article 25 of the Constitution which states (the development of a vibrant and prosperous national private sector that is locally initiated, regionally competitive and integrated globally with the aim of achieving economic diversity and development Sustainable and job creation).

He indicated the need to leave the rentier economy dependent on 93 percent of oil revenues and to develop other vital economic sectors, agricultural, industrial, and tourism through, restructuring state-owned industries and a gradual shift towards the private sector, and encouraging partnerships with local and foreign investors as well as reviewing the environment. Legislative work for the industry and the provision of infrastructure to secure the requirements of a stable work environment, and the expansion of the establishment of industrial zones.
 
Al-Nusairi also considered improving agricultural production and livestock, providing effective supplies and treatments for fields and farms, maintaining irrigation and drainage projects, supporting agricultural products for export, improving the quality of seeds, and ensuring the state’s prices, as well as providing support to small and medium enterprises and activating the central bank’s initiatives to revitalize the economic cycle and grant soft loans. 

In order to ensure the availability of the elements of resilience and economic advancement. 

And he indicated that the country is now suffering from a stifling and complicated economic and financial crisis. 

As a result of the continuing instability of oil prices in the global market, the requirements of the war on terror, the spread of the Corona pandemic for the second year in a row, as well as the mismanagement of public funds and the failure to approve the general budget for 2021. 

 

Al-Nusiri hinted that the recent reports issued by the World Bank and the International Monetary Fund indicate the fragility of the Iraqi economy and the low rate of growth in the gross domestic product. 

And since the country has the elements of resilience and economic advancement,

which is represented by the fact that it possesses oil reserves of up to 148 billion barrels,

second in the Arab world and fifth in the world,

and water resources in addition to a workforce estimated at more than 10 million people capable of work,

and experts in economics and finance who possess academic and executive experiences,

he can overcoming the crisis and exiting healthy,

by providing a suitable work environment

and securing an encouraging investment climate to attract private capital and contribute to economic development. 

 

Al-Nusiri concluded his speech by referring to the deficiency of the legislative environment for managing the economy and the laws that regulate economic work, which calls for reviewing and making fundamental adjustments for all of them in line with the new economic management situation, to reduce the unemployment cases that rose to more than 30 percent and the poverty rate that exceeded 31 percent.

Two negative indicators indicate the aggravation of the Iraqi economy crisis.

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The Federation of Iraqi Chambers of Commerce signs a memorandum of understanding to develop the work of the private sector

 

26665.jpg
 

12th March, 2021

 

The Federation of Iraqi Chambers of Commerce, represented by its president, Abdul Razzaq Al-Zuhairi, and the Governance Institution for Directors - GIoD Iraq, represented by the Chairman of the Board of Trustees, Mahmoud Al-Barzanji, signed yesterday, Thursday, in the governorate of Erbil, a memorandum of understanding and cooperation in the desire to develop the institutional work of merchants and private sector companies

The signing of the memorandum came in accordance with the strategy approved by the Federation Council for the year 2021, the capacity-building that the world is witnessing, the adoption of the principle of transparency in commercial work, 

and the adoption of the private sector with the global system

 

This framework memorandum provides for the holding of courses and workshops and the exchange of global experiences between the Federation and the Foundation

GIOD is one of the most important directors centers around the world that was established by the International Finance Corporation (IFC) / a member of the World Bank Group

##########

The Iraqi Chambers Of Commerce Signs A Memorandum Of Understanding To Develop The Private Sector Work  LINK

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Advisor to Kazemi: Sisi and Abdullah II will visit Iraq soon

 

22742.jpg
 

13th March, 2021

 

An advisor to the Prime Minister, Mustafa Al-Kazemi, revealed the imminent visit of Egyptian President Abdel Fattah Al-Sisi and King Abdullah II of Jordan to Baghdad to hold the tripartite summit

Counselor Mashreq Abbas said, during the application of the clubhouse , and "Al-Eqtisad News" followed him, that the Egyptian President and the King of Jordan will visit Iraq soon, to hold the tripartite summit, indicating that the Iraqi government has a plan of action to bring about economic integration with Egypt and Jordan

He added that the talks between Iraq, Egypt and Jordan in Baghdad will focus on exporting Iraqi oil, industrial cities and others, explaining that Iraq has an infrastructure linked and coherent with Jordan, and there is an intertwining of destinies with Egypt

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Jiyad: The Federal Oil and Gas Law in Iraq

 

Ahmed-Mousa-Jiyad-6.png

 

15th March, 2021



The Federal Oil and Gas Law in Iraq:

A sudden alarming move that calls for caution and readiness to encounter

 

In a very surprising and sudden move it was announced that the "Opinion Board" (Hayaatul raay  هيئة الرأي) of the Ministry of Oil (MoO)

discussed and approved the final version of the Federal Oil and Gas Law (FOGL) at its meeting on Wednesday, February 24, 2021.

 

In a statement by Ministry's Press Office, 

Minister of Oil Ihsan A. Ismail confirms this final version will be referred to the Council of Ministers (CoM)

for approval after it was reviewed by the "concerned authorities in the Ministry",

and then CoM will review this text,

and in turn refer it to the House of Representatives (HoR) to Enact It As Law.

 

The Press Office did not provide, in its brief statement, any important or new information about the components and contents of this final version of the bill, or on its similarity to any of the previously presented drafts (a minimum of three), or to what prompted the Ministry to take this action at this particular timing in this way!!


The real reasons behind this "suddenness" at this particular time could be explained by or related to many issues or events that are dominating the current political environment. 

It could be linked to the stalled approval of 2021 budget law,

or to the ongoing back and forth dialogue between the federal government and KRG 

(including efforts by some politicians and heads of some politico-religious groups),

or with the end of the current government's mandate and the HoR term, as the national election is rescheduled from June to October this year, or with the current debate at HoR regarding the 15 year old Federal Supreme Court Law (FSCL), or with the coordination efforts (covert or overt) between the announcement of this bill and the proposed first amendment to the Iraqi National Oil Company (INOC law), which seems to be expedited by the Head of the Oil and Energy Committee in the House of Representatives (Haybat Al-Halbousi) ... or all of these ... or a combination of them ... or maybe even others.

Each of the previously presented versions of FOGL is complex, incoherent, long and highly politicized; all has been under consideration for more than fifteen years, and much was written about the law throughout that period.

Because of the urgency, importance and necessity for discussing this "final version" of the law seriously and professionally to protect the country's hydrocarbon wealth in serving the Iraq interest and the rights of future generations, I find it imperative to make very brief assessment on the background and what has been revealed on this abrupt move.

Click here to download the full report in pdf format.

Mr Jiyad is an independent development consultant, scholar and Associate with the former Centre for Global Energy Studies (CGES), London. 

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12 hours ago, DinarThug said:

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Representative economics explains the negative effects of raising the dollar’s exchange rate

 

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14th March, 2021


Today, Sunday, 

the Parliamentary Economic Committee clarified some of the negative effects resulting from the raising of the dollar’s exchange rate and its impact on the citizen and Iraq in general,

indicating that some prices have risen by 100%,

and the citizen is no longer able to go about his normal daily affairs.

 

Member of the Deputy Committee, Nada Shaker Jawdat, said in a statement to "Tigris", that "the effects of the rise in the exchange rate of the dollar are disastrous and began to become clearer, especially with the significant increase in imported goods and foodstuffs," noting that "the citizen is no longer able to walk his normal financial affairs Daily."

 

She added that 

"some commodities have risen to more than 100%, while the number of unemployed and the percentage of the poor accelerates due to the government's economic policy, imposing health curfews and other measures."

 

Jawdat indicated that 

"the government and parliament are required to take urgent scientific measures in order to avoid these repercussions and compensate those affected or announce the return of the exchange rate as it was previously to restore the economic situation to relative stability at the very least."

Scientific this means delete zeros! Plain and simple!

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Gee, THIS NEVER happens:

 

Less than a week before voting on legislation which contains HCL language:

  • All of a sudden you start seeing lots of articles about Kurdistan or articles generated by Kurdistan.
  • Complaints by Kurdistan about their share.
  • Claims by various committees about why the budget vote must happen on date X.
  • Last minute delay of voting on budget/legislation, moving to Date Y.
  • Several more delays.

This has already happened, this time around. What hasn't happened this time, yet:

  • Kurds increasingly belligerent and demanding about what they do and don't want.
  • A few additional voting delays.
  • Final passage of a sort of budget, with no HCL language included.

Let's hope that this time those last three points don't happen, but I am getting strong Charlie Brown/Lucy football vibes here.

 

I imagine *something* will be passed by the end of March. We'll see exactly what.

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Parliamentary Finance explains the reasons for postponing the budget presentation in today's session

 
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08:50 - 15/03/2021
 
 

A member of the Parliamentary Finance Committee, Muhammad Ibrahim, explained, on Monday, the reasons for postponing the presentation of the budget on the agenda of today's session, pointing out that there is almost a consensus between Baghdad and Erbil on the budget settlement.

Ibrahim said in a statement to "the information", that "the budget was postponed to tomorrow's session, Tuesday, due to the presence of some technical measures, as well as in order to complete some aspects related to it and then submit it to a vote."

He added, 

"There is near-consensus between Baghdad and Erbil to pass the budget,

as the postponement of its presentation in Parliament is to give more time about the agreement between the two sides on the contentious articles in the budget."

 

He stressed that "Article 11 of the budget is the focus of the dispute between the two governments, especially with regard to the region's dues since 2004 and the quantities of oil exported across the region, as the issue is still revolving around political dialogues." 

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