Friday AM Iraq Economic News Highlights 8-19-22

Lebanese Businessmen Demand Iraq To Pay Outstanding Debts Since The 1990s

Shafaq News/ Today, Thursday, Lebanese businessmen demanded that Iraq pay outstanding debts and dues since the 1990s, suggesting that this be through the price of Iraqi oil exported to Lebanon, while noting that these debts caused them suffering.

The Lebanese-Iraqi Businessmen Council said in a statement received by Shafak News Agency, "The Lebanese-Iraqi Businessmen Council welcomes the visit of the Iraqi government delegation and thanks the Iraqi government for its support to Lebanon in these difficult circumstances," calling on the Lebanese and Iraqi governments to "be the rights and entitlements of Lebanese traders and industrialists.

" Businessmen are at the forefront of the ongoing discussions for the Lebanese to collect their dues from the price of Iraqi oil, in addition to other services provided to Iraqis in Lebanon."

The Council made a special appeal to the President of the Lebanese Republic, Michel Aoun, and the Lebanese Prime Minister, Najib Mikati, to give the necessary attention to resolving the issue of the debts and receivables of the Lebanese that have been stuck with Iraq since the 1990s, especially since most of them are dues, deposits and policies at the Rafidain Bank and other Iraqi banks as well as Iraqi ministries and public institutions. It is payable."

The Council appealed to the Lebanese state to pay attention to the "rights holders of the Lebanese who suffer from the burden of these debts," noting that "the Lebanese state has not made any effort in this direction since President Aoun's visit to Iraq in 2018."

The Council expressed its hope that the official Lebanese references would "pay much attention to the issue in order to lift the injustice against the Lebanese merchants and industrialists in order to reach a settlement of their debts and their belongings, similar to the settlement that took place with other Arab countries (Jordan - Syria - Egypt)."

The Council also drew attention to the fact that “refusing to pay over the past period has caused the Lebanese economy (especially private sector traders) severe damages, including indebtedness from banks and high banking interests to carry out their business in Iraq, and even the bankruptcy of some of them.”  LINK

Electricity Announces The Date Of Completion Of The Energy Connection With The Gulf Countries

Local | 02:31 - 18/08/2022   Baghdad - Mawazine News   The Ministry of Electricity announced today, Thursday, the date for the completion of the Gulf connection, while identifying three reasons for the delay in operating the Turkish line.

The ministry's spokesman, Ahmed Moussa, told the official news agency, Mawazine News followed him, that "the ministry has made great strides regarding the completion of the Gulf link," stressing that "efforts are in place to complete the rest, as we need 12 to 18 months."

Regarding the Turkish connection, Moussa explained, "The connection has been technically completed with Turkey, and the final operating agreement for the Turkish line was signed," explaining that "the rise in energy and gas prices, as well as the rise in electricity prices, delayed this agreement and its entry into force."

He stressed, "The ministry's efforts are continuing to import gas from the Qatari side, to diversify import sources." Ended 29 / AD 99    https://www.mawazin.net/Details.aspx?jimare=202806

Planning: 30% Of The Goods Are Subject To Standardization And Quality Control

Local | 11:52 - 17/08/2022   Baghdad - Mawazine News    The Ministry of Planning confirmed that 30% of the goods are subject to the inspection of the standardization and quality control body.

The ministry's spokesman, Abdul-Zahra Al-Hindawi, said that "the ministry has contracted with 4 international companies to inspect goods in the country of origin," noting that "30 percent of the goods are subject to the inspection of the standardization and quality control body."

He added, "The standardization device did not check a single packet of cigarettes," stressing, "We started the corresponding inspection of motorcycles this week."

He pointed out that "there are efforts being made to unify the customs tariff with the Kurdistan region," explaining, "The Minister of Planning attaches great importance to the standardization and quality control body." Ended 29 / p. 87    https://www.mawazin.net/Details.aspx?jimare=202775

The Minister Of Oil Stresses The Importance Of Developing The Oil Industry In Cooperation With Sober Oil Companie

Wed, 17 Aug 2022 8:35 PM   Baghdad / National News Center   The Minister of Oil, Ihsan Abdul-Jabbar Ismail, received today, Wednesday, the Japanese ambassador in Baghdad, Kotaro Suzuki, and during the meeting, they discussed strengthening bilateral cooperation between the two countries in the oil, gas and energy sectors.

In a statement, the minister stressed "the importance of developing the oil industry and the optimal investment of gas through the implementation of investment projects in cooperation with sober international companies."

The Japanese ambassador expressed his country's desire to strengthen the frameworks of joint cooperation with Iraq in the fields of oil, gas and energy.     https://nnciraq.com/147577/

Dollar Exchange Rates In Iraq For Today

Economie    2022-08-19 | 03:25  2,244 views  Alsumaria News – Economy    The dollar exchange rates have stabilized on the Iraqi Stock Exchange.

Today, Friday, the selling prices of the dollar were 148,000 dinars per 100 dollars, while the purchase prices of the dollar were 147.900 dinars per 100 dollars.   LINK

OPEC”: Keen To Ensure That Russia Remains Part Of The Oil Production Agreement

Economie  2022-08-18 | 11:48   Source:  Reuters   634 views   The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al-Ghais, confirmed today, Thursday, that the organization is keen to ensure that Russia remains part of the "OPEC +" bloc agreement to produce oil after 2022.

The agency quotedReutersAl Ghais said: “The recent decline in oil prices reflects fears of an economic slowdown and hides the actual market fundamentals, expressing a relatively optimistic view of the market outlook for 2023 as the world grapples with rising inflation.”

Al-Ghais, who took office at the beginning of August, added that "the demand for oil is strong in the actual market, and the concern about the slowdown in the Chinese economy is exaggerated, explaining:" demand is likely to find support from the use of jet fuel with the increase in travel. and Al-Ghais said:

"This is a long-term relationship that includes broader and more comprehensive forms of contacts and cooperation between 23 countries. It is not only related to production coordination. ".

He indicated that "OPEC" is keen to extend the agreement withRussiaAnd producers from outside it, adding that "compensating for Russian production is not easy    LINK

OPEC Secretary General: Global Demand For Oil Is Strong

Economie   18:06 - 08-18 2022  The Secretary-General of the Organization of the Petroleum Exporting Countries, Haitham Al-Ghais, confirmed today, Thursday, the strength of global actual demand for oil.

Al-Ghais said in a press statement, "The decline in oil prices reflects concerns about the economy and the global actual demand for oil is strong."

He added that "compensating for Russian production is not an easy thing," noting that "the ability to meet demand for oil will be a difficult task without addressing the lack of investment."

Al-Ghais added that "it is too early to say what OPEC + will do at the upcoming September 5 meeting, as it may increase or decrease production," noting that "we are optimistic about the prospects for oil in 2023."

https://kirkuktv.net/AR/Details/8249

The Ministry Of Commerce Clarifies The Extent To Which Iraq Has Been Affected By The Global Food Crisis

Iraq  21:57 - 2022-08-18   Today, Thursday, the Ministry of Commerce clarified the measures it applied to reduce food prices and the regular distribution of ration card items, while confirming that Iraq is among the countries least affected by the global food crisis.

General Director of the General Company for Foodstuff Trading in the ministry, Lama Hashem Al-Moussawi, said, "During the past four years, the ration card materials were limited to oil and sugar, in addition to flour, which was distributed intermittently up to every 4 months, but after the launch of the food basket in July of the year. The past has changed a lot.

She added, "As we started distributing the food basket that includes sugar, oil, rice, legumes and paste every 45 days, and at the beginning of this year, thanks to the allocations that were made available to us, we were able to distribute them on a monthly basis, and we are continuing to do so at a time witnessing a food crisis and a rise in prices."

And she added, "Iraq, according to the indicators of international organizations, is among the countries least affected by the global food crisis, at a time when the countries of the world suffered from the difficulty of reaching food ships due to the repercussions of the Russian-Ukrainian war, while 5 ships arrived in Iraq per month."

She stated that "this matter supports food and the people's livelihood and achieves stability in food security assets and affects market prices positively," pointing out that "according to our daily reports, food prices decreased due to the regular distribution of food basket items on a monthly basis and trade support despite its rise globally, as the The price of a bag of Thai rice has become 18,000 dinars, after it was 43,000 dinars.

She indicated that "this came after the ministry's endeavor from the beginning to maintain and balance prices, and then we went to reduce them," noting that "the Iraqi family has become highly dependent on the food basket materials, after the regularity of its distribution mechanism during the last months of this year and it became distributed at the beginning Every month through agents, these dates are fixed until the end of the year."

She stated that "there are greedy merchants who tried to reduce citizens' confidence in the basket and foodstuff materials that are distributed in terms of quality and quality in order to market what they have and keep prices high, but their attempts did not succeed because this project enjoys the satisfaction of the people," noting that "the quotas that are distributed to 40 million and 300 thousand. Nesma will not be affected by the methods of these weak-minded people."     https://kirkuktv.net/AR/Details/8254

Iraq Is Preparing A Strategy To Improve The Income And Livelihood Of Poor Families

Iraq   21:47 - 2022-08-18   Today, Thursday, the Ministry of Planning confirmed its intention to prepare a strategy to improve the income and livelihood of poor families, while confirming the imminent launch of the largest economic and social survey.

A spokesman for the Ministry of Planning, Abdul-Zahra Al-Hindawi, said, "The ministry is preparing, in coordination and cooperation with a group of ministries and institutions, including the Ministries of Trade, Labor and Social Affairs, to prepare the third poverty reduction strategy in Iraq for the years 2024-2028."

He added, "The goal of the strategy is to improve the standard of living for people with low incomes, which focuses on two axes, the first: reconsidering and evaluating the social protection network so as to ensure that it reaches those who are eligible for the benefit and re-examining the level of the poverty line in order to ensure that support reaches poor families."

He pointed out that "the second axis focuses on reforming the ration card system and working with the Ministry of Commerce with the aim of allocating this program to poor families, with a review of those covered, as many of them are well-off, and it is first for these materials to go to poor families."

He continued, "The strategy also aims to improve the income and standard of living of poor families through other pathways related to education, health and housing."

He stressed that "with this framework, the Ministry of Planning is preparing to launch one of the largest economic and social surveys in Iraq, and soon the work of this survey will be launched, which will give us very important indicators about the poverty level, the poverty line, the living standard of the poor and their areas of concentration, and then we will use the outputs of this survey and its indicators in writing The poverty strategy that is currently being prepared.     https://kirkuktv.net/AR/Details/8253

Water Resources Determines The Duration Of The Completion Of The Makhoul Dam And Sends An Invitation Regarding The Establishment Of The Basra Dam

Iraq   18:02 - 08-18 2022   Today, Thursday, the Ministry of Water Resources in the Federal Government announced the success of the summer plan in securing water at a high rate, and while it indicated that it had taken strict measures to reduce abuses and close unauthorized water projects, which contributed to increasing flows, it specified the duration of completion of the Makhoul Dam, stressing at the same time that invitations were sent. Sober companies to implement a dam construction project in Basra.

Ministry spokesman Hatem Karim said, "The maximum period for water consumption is in August and July to a lesser extent as a result of high temperatures, during which the water expenditures of the Tigris and Euphrates rivers are secured according to the operational plan, and the ministry worked to stop the water abuses that could occur. Due to the increase in temperature, the volume of the incoming water releases increased.

Karim added, "The water releases, according to the operational plan, reached all governorates as a result of the measures taken by the ministry," noting that "these releases were good in operating irrigation and drainage projects in the Tigris and Euphrates rivers, where water was secured and reached the rivers in Basra, in addition to the expenses that was secured to Dhi Qar, and water was provided to the governorates of Muthanna and Maysan.

He pointed out that "the ministry has taken strict measures to curb abuses, close unlicensed water projects, and protect facilities whose members are subjected to beatings and gunfire attacks," stressing that "its cadres did not record any deaths during those attacks."

He stressed, "The ministry continues to follow up the rapid and fair delivery of water to all governorates, and it can be said that the summer plan was a success by securing water at a high rate."

On the agricultural plan, Karim said, "The agricultural plan and groundwater are going in a good direction, as one million dunams have been cultivated, in addition to digging a number of wells in the governorates and areas where water is scarce, especially in Diyala, Dhi Qar and Muthanna," stressing that "drinking water has been secured." and watering in those areas.

Regarding the dams, Karim stressed that "work procedures are still continuing in the Makhoul dam, which was launched last year, as the Makhoul bridge, which was destroyed by terrorist gangs, was rehabilitated within the dam's work plan, and the rehabilitation work will be completed within three months and the start of the process." actual implementation of the dam.

And he indicated, "The ministry is waiting for the allocations that will be approved by the finances to start implementing the dam," noting that "the dam needs five years to complete according to the plan set for it."

He explained, " Regarding the salt tide in Basra, Karim stated that “the Shatt al-Arab is affected by the local tide in July and August, and the recent releases from Qal’at Saleh are good and are still ongoing,” stressing that “the ministry worked to invite solid companies to establish a dam in order to control the salt tide and benefit from it.” of fresh water for other purposes.

He continued, "The study of the construction of the dam was completed within the ministry, and the site was chosen," noting that it "is one of the strategic projects that will increase water investment in the Shatt al-Arab on an ongoing basis."     https://kirkuktv.net/AR/Details/8248