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Oil announces the transfer of a copy of the oil and gas law to the Council of Ministers for approval


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Deputy: These four laws top the priority of Parliament in the coming period

Posted 8 hours ago
News source / Mawazine News
11732021_6b5cdd57-ca17-4dd0-9a3a-3a23cd6
 

02:28 - 07/03/2021

BAGHDAD -
Mawazine News
, the spokesperson
for Parliament Speaker Shaker Hamed revealed, on Sunday, the most prominent laws that top the priority of
the House of Representatives in the coming period.
Hamid said,
according to the official agency, that "the House of Representatives, after Al-Halbousi's decision to extend the
legislative season , will be among its priorities the approval of the fiscal budget law and the
Federal Court law , which it is hoped will be approved in a session tomorrow, Monday."
He explained,
"Some paragraphs of the law were voted on last Thursday, in addition to discussions
yesterday that led to agreement on four contentious articles with the political blocs," stressing,
"continuing the dialogue on the remaining articles in order to agree on them and vote on the law
completely in preparation for holding the elections on schedule." Decision ”.
He added
The official spokesman, "The Council is keen to approve the most important ruling laws that support the
process of the government, in addition to other laws related to the legal paths related to the
organization of recruitment and employment mechanisms in state facilities in accordance with fundamentalist standards, including the
Federal Civil Service Law in the next legislative term."
He stressed that
"Halbusi and his deputies are determined to put the most important laws relating to the requirements phase and the
current needs of citizens throughout the country, especially the associated , including the demands of the
demonstrators , " pointing out that " the legislative term of the second current year
will include a discussion of the oil law and gas and the development of the legal map of the distribution of wealth is
fair in all Governorates and regions that produce oil and end disputes in accordance with

constitutional frameworks . ”Ended 29 / A43

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A statement regarding the return of the dollar exchange rate to what it was

 

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7th March, 2021

 

The representative of the National Approach bloc, Hussein Al-Aqabi, demanded, on Saturday, to restore the exchange rate of the dollar to what it was previously, calling on the House of Representatives to assume its responsibility and work to correct the equation and reject government decisions that did not take into account the harm and injustice to the simple citizen

Al-Aqabi said, in a statement today (March 6, 2021), that "with the rise in crude oil prices and the growth of oil revenues, Minister of Finance Ali Abdul Amir Allawi is still insisting on raising the price of the dollar and restricting Iraqi citizens, especially those with limited income, with completely rejected justifications

He added, "We have followed with great astonishment the minister's statements regarding the impossibility of changing the dollar’s exchange rate because it is a reasonable price, and that the decision was taken in consultation with the Central Bank, the International Monetary Fund and the political blocs, and that the markets have accepted it and the government will work to compensate the contractors who are affected by it !!

He continued, "We do not know whether the Minister of Finance lives in Iraq or in another country, and he is not aware of the extent of the damage that the Iraqi citizen suffered as a result of this ill-considered decision that led to an insane increase in the prices of consumer goods - even locally produced - by more than 30%. , Which added another burden on the shoulders of the Iraqi family, and formed a great pressure on the living situation of the simple citizen and caused a clear confusion in the market

He explained, "The Iraqi economy has been mortgaged by the dictates of the International Monetary Fund and the effective response of the political blocs to these dictates represents a dangerous turning point that affects the future of the country and puts its capabilities and wealth in the hands of external decisions that are the last thing the interests of the country and its people think about

He continued, "From here we demand and renew our previous demand to restore the exchange rate of the dollar to what it was previously, and we confirm that the legislative authority is the final word in all issues related to matters of conducting financial matters through legal legislation inside the parliament, and despite the rise of the dollar exchange rate. It came by a decision from the Central Bank and with governmental and external influence, but it is possible to correct the decision by the legislative authority, even if it is necessary to amend the Central Bank Law

He explained, "The House of Representatives is required to assume its moral and constitutional responsibility in this direction and work to correct the equation and look at the extent of injustice and damage to the simple citizen, return the price of the dollar to the old price and reject government decisions that did not take into account the damage and injustice to the simple citizen as it dealt with great care with contractors." Affected by this decision

He went on to say, "We also reiterate our appeal to the public prosecution to strive to hold government agencies accountable, which caused the waste of nearly a trillion dinars of public money during the period that accompanied the decision to change the dollar exchange rate and the major theft and manipulation of the capabilities of the people by the executive authorities and parasitic banks." It is accused of being linked to the same political blocs that adopted and supported the decision

############

A parliamentary bloc threatens to amend the central bank law if it insists on raising the price of the dollar    LINK

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Deputy: The devaluation of the Iraqi currency is very dangerous, and the political blocs agreed to raise the dollar

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7th March, 2021


A member of the Parliamentary Economic Committee, Nada Shaker Jawdat, confirmed on Sunday that the devaluation of the Iraqi currency is very dangerous, indicating that the political blocs agreed to raise the price of the dollar.

Jawdat said in an interview with Shafaq News: "The process of devaluation of the Iraqi dinar is very dangerous considering that our economy is rich in oil and we have very huge economic and human resources, and therefore Iraq does not need this devaluation, just as Iraq's economy is unilateral and not diversified, and depends on import, unlike countries with diverse economies. Which is not affected by the increase in the price of the dollar.Turkey, for example, which raised the price of the dollar, did not harm the ordinary citizen. "

Jawdat added; "The government should study the issue of lowering the price of the dinar and properly assess that on the basis of the pros and cons and the extent of its impact on the simple Iraqi citizen, and not listen to the people around them and do not understand anything about this matter."

Jawdat pointed out that "the presence of only 32 deputies to the special session that we called to hold during the last period to discuss the reasons for the decline in the exchange rate and the financial policy gives an indication that the political blocs agreed and signed the decision of Prime Minister Mustafa Al-Kazemi to raise the price of the dollar."

The Central Bank of Iraq had decided to raise the price of selling the dollar to banks and exchange companies to 1460 dinars, from 1182 dinars to the dollar, with the aim of compensating for the decline in oil revenues caused by the deterioration of oil prices.

A member of the Parliamentary Economic and Investment Committee, Mazen Al-Faily revealed on January 30 to Shafaq News Agency, that a request was submitted by a group of deputies to change the exchange rate of the US dollar to 130,000 Iraqi dinars in the general budget law for 2021.

On February 5, the Parliamentary Finance Committee responded to the requests of members of Parliament regarding changing the price of the dollar in the budget law, while confirming that the price is fixed according to the set by the government. The materials and commodities witnessed a significant increase in their prices, which sparked a strong wave of discontent among the popular circles and some political bloc, as well as the objections of some of those interested in economic affairs.

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Representative legal: The budget will be passed by a majority in the event of incompatibility with Erbil

 
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13:20 - 07/03/2021
 

The Parliamentary Legal Committee expected, on Sunday, to pass the budget law according to the parliamentary majority system in the event of incompatibility with Erbil, indicating that negotiations are taking place between the heads of political blocs to pass the two special articles in the region.

A member of the committee, Saeb Khadr, said in a statement to / the information / that “the House of Representatives has finished all the budget items through the parliamentary finances and sent them to the Presidency of the Council of Representatives for inclusion in the upcoming sessions.”

Khadr added, "The Presidency of the Council of Representatives is waiting for a meeting of the heads of political blocs in order to agree on the tenth and eleventh articles of Kurdistan, and in the event of agreement on them, the council will pass the budget within one day."

He explained that "the problem with the Kurdistan region is chronic and must be resolved by political means continuously, with a public agreement, and in the event of a lack of consensus, the scenario of passing the borrowing law by a majority will be present in the voting session and I think next week."
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Parliamentary Finance unveils new details regarding the budget .. One knot!!

 
Parliamentary Finance unveils new details regarding the budget .. One knot !!
 
 
03/07/2021 19:34:48
 
 
The Parliamentary Finance Committee revealed, on Sunday, new details regarding the federal budget for 2021.
 
A member of the committee, Shirwan Mirza  stated that "most of the budget paragraphs have been completed, except for the share of the Kurdistan region," declaring that "the committee is ready to submit the bill to the House of Representatives for the purpose of voting."

He added that "the region’s share is still hampered between the political blocs, and if the blocs submitted their formula regarding the region, we will add it to the draft law; but there is no official text alternative to the government regarding the region’s share in the budget until the moment." Mirza said, "The Kurds have repeatedly stressed that they support any proposal that does not contradict the laws in force and is in the interest of all the Iraqi people, and we do not know why the political blocs did not present an alternative solution to vote on the budget."

A member of the Parliamentary Finance Committee concluded, "We are waiting for the vote on the Federal Court law within the next two days, and then we will see what will happen regarding the budget." It is noteworthy that the Speaker of Parliament, Muhammad al-Halbousi, affirmed the parliament’s keenness to proceed with the laws that were suspended in previous sessions, most notably the Federal Supreme Court’s law, which was suspended throughout previous sessions. Al-Halbousi also announced 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 disappearance of the global oil surplus will spare the budget borrowing

 
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19:02 - 07/03/2021
 
 

On Sunday, Mazhar Muhammad Salih, the economic advisor to the prime minister, affirmed that oil prices would remain at the $ 70 per barrel barrier, stressing the disappearance of the global oil surplus.

Saleh said to "the information" that "the global economic crisis is towards a breakthrough after the rise and recovery of global oil prices, reaching the $ 70 barrier."

He added, "The deficit has shrunk, and it is possible to dispense with borrowing if the price of a barrel of oil continues towards the current price," noting that "the global oil surplus has ended and OPEC is looking to increase production for all exporting countries and urges them to do so."

Saleh explained that "the disappearance of 10% of the global oil surplus dispels fears of a return to low oil prices, which means that the budget will reach the equilibrium stage."

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Parliamentary Finance: The adoption of a price of $ 45 a barrel of oil is far from reality

 

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12:25 - 08/03/2021

 


The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, considered on Monday that the adoption of the exchange rate of $ 45 in the budget is far from reality, because all the data and expectations of oil experts that the price of oil will range between $ 61 to $ 69 during the year 2021, indicating that it would have been better to calculate the price of a barrel of oil at least $ 50.

Al-Saffar said in a statement to / the information /, that “building the budget on the price of a barrel of oil at $ 45 is far from reality, as the last months of last year seemed to rise rapidly in the price of oil according to data expected, including finding vaccines for Corona and a significant drop in oil reserves. American”.

He added, “Most of the members of the Finance Committee called on the government to adopt a price of $ 50 a barrel, and this is true, but the government refused to do so,” indicating that “if $ 50 was approved, it would provide us with 20 trillion dinars in the budget, and this will definitely reduce the budget deficit significantly and provide job grades And revitalizing the private sector, education and health.

Al-Saffar pointed out that "the committee raised the size of the budget to 129 trillion to support important sectors, based on financial abundance as a result of high oil prices, and perhaps we will work to conduct a supplementary budget after the seventh month if oil prices continue at this level."

 

##########
Parliamentary Finance: The adoption of the price of $ 45 a barrel of oil is far from reality  LINK
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The Iraqi parliament holds a "special" meeting due to the high oil prices

1615193571603.jpg

 

8th March, 2021


The Finance Committee of the Iraqi Parliament revealed today, Monday, that an urgent and special meeting will be held to discuss the high oil prices and its impact on the 2021 budget bill.

A member of the committee, Muhammad Ibrahim, told Shafaq News, “The Parliamentary Finance Committee will hold an urgent and special meeting shortly to discuss the rise in oil prices and its impact on the 2021 budget bill, and to study this rise is it sufficient to cover the fiscal deficit completely or will it work reducing it, and the possibility of dispensing loans after this rise."

And between Ibrahim; That "there is a possibility that some amendments will be made to the draft budget bill in 2021, after this rise, and this matter will also be discussed, discussed and thoroughly studied at the meeting, which will be held shortly by the Parliamentary Finance Committee."

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Economist: The loans will exhaust the country, and the only solution is a miracle in oil prices

 
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17:19 - 08/03/2021
 
 

The economic expert, Aoun Al-Defense, revealed, on Monday, that the only solution to the financial deficit is a miracle in oil prices, and it does not lie in external and domestic borrowing, as it will greatly exhaust the state budget.

Al-Defense said, in a statement to the information agency, that “the rise in oil prices is positive, but it is not sufficient to address the problem of deficit and Iraq avoid the borrowing crisis,” stressing that “ Iraq needs a full year of continuing oil prices in a way that is not amenable to sudden crises in order to restore the economic balance.
And it begins with addressing the fiscal deficit in the economy.”

He added, "In the event that oil prices rise to above $ 80, the financial deficit will begin to shrink in the budget and the country will not need a new crisis, which is the potential borrowing that will be a mortgage of the house to the debtor."

Al-Defense noted that "medicine on oil in the global market began to increase dramatically during this period, and that the rise in Basra Light oil prices, which was overtaken by US Brent by 71 dollars against 70 dollars, is a positive matter, and an invitation to economists in the government to invest this increase."

He pointed out that "economists see that the next stage is the stage of vaccines and the great war of treatments, and therefore the trends of the oil market in the world following the increase in vaccines of the Corona virus, which increased the demand for oil in global markets,

and this increase may cause an economic boom at the global level."

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An Expert Calls For Taking Advantage Of The High Oil Prices To Bridge The Budget Deficit

 

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8th March, 2021


The expert in economic affairs, Malaz Al-Amin, confirmed that the global increase in oil prices has achieved financial savings of more than 5 billion dollars per month over what was drawn up in the draft Iraqi budget, calling on the government to take advantage of this increase in bridging the budget deficit.

The Secretary said in a press statement that its independent follow-up: The efforts of the (OPEC +) countries have been successful during the Corona pandemic crisis and the decrease in the global energy consumption rate .. After agreeing to reduce production and adhere to the established quotas, the price per barrel rose from $ 38 in the last quarter of last year to $ 65 at the end of last February, and may rise to cross the $ 70 barrier this month.

He pointed out: “Iraq has been affected economically like the rest of the world by the pandemic, because its economy depends mainly on exporting oil, which forced the Ministry of Finance to borrow to fill its budget deficit and pay employees' salaries, in addition to raising the exchange rate of the dollar against the dinar by 20% so that the ministry can fill debt and loans owed by her.

He added: “At a time when the Iraqis are waiting to vote on the budget, the price of a barrel of oil has increased over what is proven in the draft budget law by a difference of more than 20 dollars per barrel, with the Ministry of Oil heading to produce crude from less expensive fields, which means achieving financial savings of more than 5 billion dollars per month.  
 

From what the draft budget has drawn up, indicating:

“These funds should go towards the payment of debts and the budget deficit, and what is in excess of it goes to the Central Bank as a cash reserve 

that enhances the value of the national currency.”

 

He stressed the importance of the Ministry of Finance and the Central Bank benefiting from high crude prices and increasing financial revenues to reform the structure of economic sectors, limit imports, support local products, and attract investments to implement strategic projects to serve the national economy and provide job opportunities for the unemployed.

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"enhances the value of the national currency" that's the only sentence I need to see. I have told countless 

people to buy some of this currency so it can be a benefit to their life but people either ignore, say nothing will ever

happen without knowledge of this investment or say they don't want to hear it. It is amazing how we have been conditioned to depend on Corporate America which is fine if it is your thing but I want to be a part of something greater!

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10 minutes ago, GreedyDinar07 said:

"enhances the value of the national currency" that's the only sentence I need to see. I have told countless 

people to buy some of this currency so it can be a benefit to their life but people either ignore, say nothing will ever

happen without knowledge of this investment or say they don't want to hear it. It is amazing how we have been conditioned to depend on Corporate America which is fine if it is your thing but I want to be a part of something greater!

GreedyDinar07 Thanks,  Very well stated.....👍👍🙏🙏😁😁.

 

GO HCL

 

GO RV & RI

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Al-Kazemi: The strategic dialogue is based on finding the timing for the removal of foreign forces

 

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12:21 - 08/03/2021

 


Prime Minister Mustafa Al-Kazemi confirmed, on Monday, that the strategic dialogue initiated by the government is based mainly on creating the environment and times for the removal of all foreign combat forces from the land of Iraq.

Al-Kazemi said in a speech he gave on the occasion of the end of the Pope's visit and followed by "the information", that "the strategic dialogue initiated by the government on arrangements for cooperation with the international coalition is mainly based on creating the environment and timings for the removal of all combat forces from the land of Iraq , within technical and time-bound mechanisms agreed upon while preserving On the best relations with the countries of the coalition, in a manner that guarantees the sovereignty and security of Iraq.
 
He added, "Since its formation, the government has embarked on restoring Iraq's external relations and establishing the restoration of Iraq". 
 

Its natural regional internationally and weight, and we have achieved advanced strides in this area was the Pope's visit in furtherance of these steps, we have managed to have Iraq expressed understanding and communication between many countries in the region, and there is an international willingness to support Iraq in the economic reform project after we have succeeded in crossing the crisis Economic”.

 

Al-Kazemi added, "Iraq today confirms its full readiness to play an effective role in devoting truce and opening the doors of dialogue to solve the region's crises, and for everyone to be partners in development, not a focus of disagreement and conflicts." On the other hand, Al-Kazemi called for a "deep and genuine national dialogue, at all official, party and popular levels, to reach a framework for the final agreement on the relationship between the central government and the Kurdistan region in a way that preserves the unity of the Iraqi territories and addresses the problems that accumulate radically." 
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4 hours ago, DinarThug said:

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Al-Kazemi: The strategic dialogue is based on finding the timing for the removal of foreign forces

 

%D8%A7%D9%85%D8%B1%D9%8A%D9%83%D8%A723-6

 

 

 

12:21 - 08/03/2021

 


Prime Minister Mustafa Al-Kazemi confirmed, on Monday, that the strategic dialogue initiated by the government is based mainly on creating the environment and times for the removal of all foreign combat forces from the land of Iraq.

Al-Kazemi said in a speech he gave on the occasion of the end of the Pope's visit and followed by "the information", that "the strategic dialogue initiated by the government on arrangements for cooperation with the international coalition is mainly based on creating the environment and timings for the removal of all combat forces from the land of Iraq , within technical and time-bound mechanisms agreed upon while preserving On the best relations with the countries of the coalition, in a manner that guarantees the sovereignty and security of Iraq.
 
He added, "Since its formation, the government has embarked on restoring Iraq's external relations and establishing the restoration of Iraq". 
 

Its natural regional internationally and weight, and we have achieved advanced strides in this area was the Pope's visit in furtherance of these steps, we have managed to have Iraq expressed understanding and communication between many countries in the region, and there is an international willingness to support system" rel="">support Iraq in the economic reform project after we have succeeded in crossing the crisis Economic”.

 

Al-Kazemi added, "Iraq today confirms its full readiness to play an effective role in devoting truce and opening the doors of dialogue to solve the region's crises, and for everyone to be partners in development, not a focus of disagreement and conflicts." On the other hand, Al-Kazemi called for a "deep and genuine national dialogue, at all official, party and popular levels, to reach a framework for the final agreement on the relationship between the central government and the Kurdistan region in a way that preserves the unity of the Iraqi territories and addresses the problems that accumulate radically." 

Kuwait Reinstated shortly after foreign forces left, i like this article👍

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2 minutes ago, Longtimelurker said:

Kuwait Reinstated shortly after foreign forces left, i like this article👍

 

This is a completely different situation and the U.S. cannot leave. It will all collapse. This is not the same as Kuwait!

Why can't people understand this?     

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38 minutes ago, JonnyV said:

 

This is a completely different situation and the U.S. cannot leave. It will all collapse. This is not the same as Kuwait!

Why can't people understand this?     

Regardless of your issues, Kuwait reinstated after military forces left. I still like the article because sovereignty seems logical for a new start/rv.

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ERBIL - Kurdistan Region Prime Minister Masrour Barzani has welcomed a call by his Iraqi counterpart Mustafa al-Kadhimi for a 'national dialogue' between the sides in the efforts to resolve the remaining disputes between Erbil and Baghdad.

The Iraqi prime minister made the call during a speech on Monday to highlight the importance of Pope Francis's historic visit to Iraq, in which he called for a "deep national dialogue" to resolve ongoing issues, including the disputes between Erbil and Baghdad on the budget bill.

PM Barzani welcomed Kadhimi's call in a Twitter statement and expressed his support to it.

"On behalf of the Kurdistan Regional Government, I welcome and support the invitation of Federal Prime Minister Mustafa al-Kadhimi for Iraqi parties to hold a national dialogue," he wrote on Twitter.

Barzani, meanwhile, reaffirmed that the KRG is ready "to reach a comprehensive and final" agreement to solve all remaining disputes between the regional and federal governments in accordance with the Iraqi constitution.

Erbil and Baghdad are yet to reach a final agreement on the budget bill for the year of 2021. However, both indicated that the ongoing negotiations are positive and close enough to reach a deal.

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14 Hours ago

 

SULAIMANI — Iraqi Prime Minister Mustafa al-Kadhimi on Monday (March 8 called for “national dialogue” in order to achieve a breakthrough and seal a comprehensive agreement between the federal government and the Kurdistan Regional Government (KRG).

The agreement would need to preserve “the unity of Iraqi territory and radically address the accumulated problems,” Kadhimi said in a speech reflecting on the lessons of Pope Francis’ recent visit to Iraq and the Kurdistan Region.

Relations between Baghdad and Erbil have been particularly tumultuous since 2014, with persistent disagreements over the budget, the KRG’s independent oil sales, the disputed areas, and the Region’s 2017 independence referendum.

The crisis of the moment is the impasse over the draft 2021 Federal Budget Law with negotiations characterized by low levels of trust on both sides.

Referencing the fraternal theme of the pope’s visit, the prime minister called for a renewed spirit of cooperation in solving the country’s challenges.

“We have lived together for more than six thousand years and we are still together,” he said.

He also urged other countries “to banish the specter of wars, disagreements, and conflicts that will not serve our peoples.”

“The message of our people has reached all the peoples on the earth. We have suffered many wars and blood has spilled on our land.”

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2 hours ago, Longtimelurker said:

Regardless of your issues, Kuwait reinstated after military forces left. I still like the article because sovereignty seems logical for a new start/rv.

 

I don't have issues.  The US Military NEVER left Kuwait.  They couldn't because of Saddam. 

 

The US has forces there today and will never leave.  Iraq can have sovereignty and the US Military will still be there to protect the oil fields.   

 

Of course we want a reinstatement and there will be, eventually.  That's why we are all here.     

Edited by JonnyV
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