Iraq News Highlights and Points to Ponder Friday AM 12-27-24
Foreign Policy: Demographic Gift Will Make Iraq A “Global Economic Power” With Washington’s Help
Translated reports |Today Baghdad Today – Translation The American newspaper Foreign Policy, which is close to the White House, published a report today, Friday, December 27, 2024, on the population census prepared by the Iraqi government, stressing that the results of the census must be respected by all political parties in Iraq to prevent "dire consequences" and pave the way for "huge investment."
The newspaper said, according to what was translated by "Baghdad Today", that Iraq, which is now enjoying a "demographic gift" as a result of the high percentage of youth among its population, which has reached sixty percent, must invest properly by implementing plans and making decisions that improve the Iraqi economy and raise "investment and entrepreneurship rates and integrate the young workforce into the private sector through government initiatives that guarantee investment," according to its description.
She continued, "The United States must help the Iraqi government to exploit the demographic gift correctly and achieve appropriate economic investment in it to prevent the severe damage that Iraq will be exposed to, and consequently the United States and its interests in the country, if it fails to do so," noting that failure to invest the demographic gift correctly will lead to "high rates of unemployment, crime, and political and security instability."
The network also confirmed that Iraq would be a "huge regional and international economic power if it exploited its demographic gift as East Asian countries did, achieving what was known at the time as their economic miracle during the nineties by exploiting the youth and their high percentages in society."
The Foreign Policy report concluded by stressing that the Iraqi government, along with Washington, must ensure that Baghdad succeeds in exploiting its demographic gift during the coming period, stressing that the real test of the Iraqi government and regime’s ability to lead the country in a correct manner that guarantees continued international support will be after the announcement of the final results of the census expected during the next month.
On November 20 and 21, 2024, Iraq conducted a comprehensive population and housing census, including the Kurdistan Region, the first since 1987.
The Iraqi government announced the preliminary results of the census on the 25th of last month, where the population of Iraq reached more than 45 million people, including foreigners and refugees, and the percentage of the population of working age (15-64 years) reached 60.2%, so that Iraq has entered the demographic gift stage with the percentage of the population of working age reaching 60%. LINK
Policy Al-Ekti: There Is No Real Will To Pass The Oil And Gas Law
Information/Baghdad... On Friday, the member of the Patriotic Union of Kurdistan, Burhan Sheikh Raouf, confirmed that there is no real will to pass the oil and gas law and legislate it in parliament, despite the existence of an agreement in the State Administration Coalition to legislate it within 9 months of the beginning of Al-Sudani’s rule.
Sheikh Raouf told Al-Maalouma, "The Patriotic Union of Kurdistan seeks and stands by resolving all the problems between Baghdad and Erbil and passing the oil and gas law by the House of Representatives."
He added, "There is a need for an oil and gas law and finding solutions to the oil problems between Baghdad and Erbil according to the legal and constitutional frameworks and in cooperation and coordination between the federal and Kurdish governments."
He explained that "the delay in approving the oil and gas law is due to the lack of a real will to legislate it, despite the existence of an agreement within the State Administration Coalition to pass this law within 9 months of the formation of Al-Sudani's government, but the situation did not proceed as agreed upon." End 25N LINK
What Is The Size Of The Budget Deficit Until Last October?
Money and business Economy News – Baghdad Economic expert Nabil Al-Marsoumi revealed, today, Friday, the size of the budget deficit until last October.
Al-Marsoumi said in a tweet followed by "Al-Eqtisad News", "Although the general average of oil prices in the past period was around $73 per barrel, the Iraqi budget until last October recorded a real deficit of 16 trillion dinars after public expenditures rose with advances to about 140 trillion dinars compared to 124 trillion dinars for public revenues."
The economic expert pointed out that "a large part of this miracle was covered through domestic borrowing, which rose at the end of last October from 70 to 80 trillion dinars." Views 69 12/27/2024 - https://economy-news.net/content.php?id=51339
Uncertainty over the 2025 budget.. Parliament: We don't know anything about it yet
Baghdad Today – Baghdad Member of Parliament Ahmed Al-Sharmani explained today, Thursday (December 26, 2024), that Parliament does not know anything about the 2025 budget schedules, suggesting that the government is deliberately delaying sending it.
Al-Sharmani said in an interview with "Baghdad Today", "According to the Financial Management Law, the budget or its schedules must reach the House of Representatives at the end of the month (10) of each year, and any delay in doing so is considered a legal violation, especially since this violation has been repeated for many years."
He explained that "the 2025 budget tables are not known to the House of Representatives so far, and the delay in sending them is a violation, and there is no specific date for sending those tables."
Al-Sharmani added, "Perhaps the government will link sending the tables with amending the law proposed in Parliament, and this will delay sending the tables for a long time due to disagreements over the origin of the amendment."
MP Jawad Al-Yassari confirmed on December 19, 2024, that political differences over amending the budget law will delay voting on the 2025 budget schedules, indicating that “the Iraqi government is waiting for Parliament to amend the budget law, so that it can send it the schedules for 2025 according to the amendments.”
It is noteworthy that Member of Parliament Mustafa Al-Karaawi announced on December 8, 2024, the postponement of the second reading of the amendment to the General Budget Law until after the legislative holiday. LINK
Uncertainty Over The 2025 Budget.. Parliament: We Don't Know Anything About It Yet
Baghdad Today – Baghdad Member of Parliament Ahmed Al-Sharmani explained today, Thursday (December 26, 2024), that Parliament does not know anything about the 2025 budget schedules, suggesting that the government is deliberately delaying sending it.
Al-Sharmani said in an interview with "Baghdad Today", "According to the Financial Management Law, the budget or its schedules must reach the House of Representatives at the end of the month (10) of each year, and any delay in doing so is considered a legal violation, especially since this violation has been repeated for many years."
He explained that "the 2025 budget tables are not known to the House of Representatives so far, and the delay in sending them is a violation, and there is no specific date for sending those tables."
Al-Sharmani added, "Perhaps the government will link sending the tables with amending the law proposed in Parliament, and this will delay sending the tables for a long time due to disagreements over the origin of the amendment."
MP Jawad Al-Yassari confirmed on December 19, 2024, that political differences over amending the budget law will delay voting on the 2025 budget schedules, indicating that “the Iraqi government is waiting for Parliament to amend the budget law, so that it can send it the schedules for 2025 according to the amendments.”
It is noteworthy that Member of Parliament Mustafa Al-Karaawi announced on December 8, 2024, the postponement of the second reading of the amendment to the General Budget Law until after the legislative holiday. LINK