Iraqi News Highlights Sunday Late Afternoon 6-11-23
Iraqi News Highlights Sunday Late Afternoon 6-11-23
Tlm724 Administrator Bondlady’s Corner
Financial expert: The dollar will not decrease against the Iraqi dinar with the approval of the budget
2023-06-11 By Sotaliraq Financial expert Muhammad al-Hassani ruled out, on Sunday, the decline in the exchange rate of the dollar against the Iraqi dinar with the approval of the budget, stressing that the decrease and rise are linked to the procedures of the Central Bank.
Al-Hassani said, "The exchange rate has nothing to do with approving the budget, but rather it is monetary policy from the task of the central bank, whose procedures are supposed to lead to the stability of the exchange rate."
And he added, “Government spending with the approval of the budget will not lead to a decrease in the dollar, but on the contrary, as it will lead to an increase in the demand for the dollar because the government will spend new money for the new hires from the beginning of issuing their orders, which are salaries accumulated for more than 6 months, and this will lead to a mass Large cash will go down to the market and will be spent on various matters, and therefore this cash block will be transferred in dollars in the purchase process, because there is no national production.
Al-Hassani also pointed out that, “Some merchants have also, until now, been buying dollars from the parallel market to finance their trade, and they did not go to the bank to finance these imports for many reasons, which generated pressure on the market and an increase in demand for dollars.”
And he pointed out that "government spending will be open with the approval of the budget, because it was previously restricted to spending one on 12 because of the lack of approval of the budget and with its approval it will be open, and it is also spending and part of it must be met in dollars."
It is noteworthy that the price of the dollar against the Iraqi dinar decreased by more than two dollars with the imminent completion of the approval of the budget with all its paragraphs by the Iraqi parliament, to reach today, Sunday, 145900 compared to 100 dollars, after it was 147950 dinars compared to 100 dollars last Wednesday. LINK
The Stability Of The Dollar Exchange Rates In Baghdad With The Closing Of The Stock Exchange
Economy Sunday, June 11, 2023 Baghdad / The National News Center The exchange rates of the US dollar against the Iraqi dinar stabilized today, Sunday, on the main stock exchange in the capital, Baghdad.
The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 146,100 dinars, compared to 100 dollars, while the prices this morning were 146,200 dinars.”
He added, "The buying and selling prices have stabilized in the exchange shops in the local markets in Baghdad, where the selling price reached 146,500 dinars, while the purchase prices amounted to 145,500 dinars per 100 dollars." https://nnciraq.com/210527/
Al-Sudani Issues A Package Of Directives After The Emergency Session
Iraq Sunday, June 11, 2023 Baghdad / National News Center Today, Sunday, Prime Minister Mohamed Shia Al-Sudani issued a package of directives, after his emergency session.
The media office of the Prime Minister stated in a statement received by the National News Center: “The importance of the government program, which translates what was stated in the ministerial curriculum, and was voted on by the Council of Ministers, and the government’s keenness to adhere to its implementation.”
He added, "The Prime Minister appreciated the efforts of the ministers and all the staff and associates who contributed to the implementation of the program of their ministries, as well as the government program team that made great efforts and worked to develop scientific mechanisms for evaluation."
Al-Sudani referred, according to the statement, to “the difficulties faced by the ministries in implementing the program, foremost of which is the absence of a budget that provides a legal space for work, in addition to the financial allocations necessary to implement projects and programs that fall under the government program.”
And that "the emergency session witnessed a discussion of the report on assessing the level of performance of the ministries in implementing their obligations towards the government program, to enhance strengths, point out weaknesses and imbalances, and develop mechanisms to correct them."
And the Prime Minister directed, according to the statement, that “the five priorities are the basis for the government’s work, and make it a goal along with other goals, and the targets must be clear in light of those priorities,” stressing “the need to implement reforms in all ministries in a manner that supports the implementation of these priorities.”
He directed, “to examine the joints of imbalances and to diagnose the centers of corruption in each ministry so that they can be dealt with firmly, and to continue structural reforms, simplify procedures and bypass red tape.”
He also called for "giving priority in supporting the private sector, and continuing to hold meetings with it, to produce results that support the executive program of the ministries and achieve a difference in performance."
The statement referred to “the most prominent things that the Prime Minister spoke during the emergency session:
The government’s commitment to implementing its program is an important part of its credibility before the people and their representatives in Parliament.
The government program is a scientific plan to implement the government's goals according to the priorities that have been approved.
We appreciate the difficulties that the ministries faced during the past six months, due to the lack of a budget.
The absence of a budget was one of the main obstacles that prevented the implementation of some of the items and objectives approved in the government program.
We supported the ministries during the last period, in order to provide service and implement priorities within the available capabilities, which exist and enable each ministry or sectoral entity to provide an achiever that makes a difference in performance.
- The report that includes everything sent by the ministries will be prepared; To be sent to the House of Representatives and then presented to the public opinion.
- It is not important to establish a high success rate, but it is important to establish a real achievement rate, because this will contribute to establishing the required credibility between the government and the people.
We do not want to repeat previous mistakes that gave high achievement rates and were highlighted in the media, while the citizen did not find them tangible on the ground.
We will announce what has actually been achieved. If the achievement is 50%, we write it as it is. It is important that the percentage reflects what has been achieved during the past six months.
The government team was formed last November 8, and conducted 518 addresses, 85 meetings, and 12 training workshops.
In most of the sessions, we emphasized sending data and communicating with the team, because what was presented today is the summary of the work of the past period.
There were sub-teams in the ministries to formulate the program, starting with each ministry.
The Council of Ministers decided to approve the government program on December 12, 2022, and the team committed to preparing the semi-annual report on the scheduled date in June 2023, and we will write a summary of the final report to be approved in a subsequent session next week.
– Directing to update the data and the follow-up team to complete the report, in order to set a second session for its approval. https://nnciraq.com/210503/
A Parliamentary Committee Calls For The Cooperation Of Government Sectors To Purchase The Local National Product
Sunday 11, June 2023 | Economical Number of readings: 157 Baghdad / NINA /- The Parliamentary Labor, Immigration and Displaced Committee stressed the need for ministries and agencies to cooperate with the Federation of Industries to purchase the local national product.
The head of the committee, Representative Hussein Arab, said in a joint press conference with the head of the Federation of Iraqi Industries today, Sunday, “The House of Representatives voted on Article 32, first and second, which pertains to national and local industry, giving some privileges to governmental and mixed companies, and exempting some customs matters from raw materials involved in industries.” Iraqi.
He added, "Article 32 second obliges all ministries and institutions not associated with a ministry, governorates and all sectors to purchase their needs from the national local industry and the private, governmental and mixed sectors," calling for the necessity of responding to ministries and agencies not associated with a ministry and government sectors, to cooperate with the Federation of Iraqi Industries.
On his part, the head of the Federation of Iraqi Industries, Adel Akkab, said, "Article 32 second, which obliges all ministries and the public sector to purchase from the private sector."
He explained, "The previous decision specified the purchase from public companies, most of which used commercial partnership contracts, but today it has become obligatory for all ministries to purchase the local national product."/ https://ninanews.com/Website/News/Details?key=1059005
The Ministry Of Planning: The Inflation Rate Decreased During The Month Of April
Money and business Economy News _ Baghdad Today, Sunday, the Ministry of Planning announced a decrease in the inflation rate for the month of April by (1%), compared to the month of March, which recorded a decrease by (0.7).
And the official spokesman for the ministry, Abdul Zahra Al-Hindawi, stated, in a statement received by "Al-Iqtisad News", that "the Central Statistical Organization, by monitoring the variables, recorded an increase in the annual inflation rate in April of 2023, compared to the same month of last year, by (4%). )".
He added, "The reasons for the decrease in inflation during the month of April are due to the decrease in the prices of a number of departments, including the food and non-alcoholic beverages department, which decreased by (0.8%), the housing department decreased by (2.2%), and the transportation department decreased by (1.1%)." %), and the Goods and Services section decreased by (1%), while the percentage of decline in the Supplies and Equipment section amounted to (1.3%).
Views 28 Added 06/11/2023 - https://economy-news.net/content.php?id=34678
The Central Bank Announces The Volume Of Its Sales Of Dollars In Today's Trading
Baghdad - Mawazine News Today, Sunday, the Central Bank of Iraq’s sales of foreign currency decreased, as it recorded 202 million dollars.
According to the schedule of the currency sale window, which was followed by Mawazine News, the Central Bank sold during its auction today 202,769,044 dollars, which the bank covered at an exchange rate of 1305 dinars, per dollar for documentary credits and international settlements of electronic cards, and at a price of 1310 dinars per dollar for external transfers, and at a price of 1310 dinars per dollar, respectively. monetary.
Most of the dollar sales went to enhance balances abroad in the form of (remittances, credits), amounting to 182,919,044 million dollars, while the remaining 19,850,000 dollars went in the form of cash sales. https://www.mawazin.net/Details.aspx?jimare=228997
Iraq's Oil Exports To America Exceed 6 Million Barrels In A Month
Economy | 11/06/2023 Baghdad - Mawazine News The US Energy Information Administration announced, on Sunday, that Iraq's oil exports to America amounted to more than 6.5 million barrels last May.
The administration said in a table it had seen, / Mawazine News /, that "Iraq exported crude oil to America during the month of May, 6.634 million barrels, with an average of 214 thousand barrels per day, up from the month of April, in which Iraqi oil exports to America amounted to 5,940. Millions of barrels, an average of 198,000 barrels per day.
She added, "Iraq exported crude oil to America during the first week of May, at an average of 174,000 barrels per day, while an average of 136,000 barrels per day was exported in the second week, and an average of 114,000 barrels per day was exported in the third week," noting that "the fourth week's exports amounted to An average of 430,000 barrels per day.
The US Energy Information Administration stated that "Iraq ranked fifth in its exports to America during the past month, after each of: Canada, Mexico, Saudi Arabia, and Colombia, and ranked second in the Arab world after Saudi Arabia, whose last exports to America amounted to 9 million and 517 thousand barrels," indicating that "Canada It ranked first as the most oil-exporting country to America, followed by Mexico. https://www.mawazin.net/Details.aspx?jimare=228986
Oil Records The Second Weekly Loss
Economy | 10/06/2023 Baghdad - Mawazine News Oil prices fell by more than a dollar a barrel, to record a decline for the second week in a row, as disappointing Chinese data added to concerns about demand growth after Saudi Arabia's decision to cut production.
Oil prices rose at the beginning of the week after Saudi Arabia pledged voluntary production cuts in addition to the cuts it had agreed upon earlier with the Organization of the Petroleum Exporting Countries (OPEC) and its allies.
But the gains were reversed after rising US fuel inventories and weak data on Chinese exports.
Some analysts expect oil prices to rise if the Federal Reserve (the US central bank) does not raise interest rates at its next meeting on June 13-14.
Analysts said that the Fed's decision may also affect Saudi Arabia's next move.
price move
Brent crude futures fell $1.17, or 1.5 percent, at settlement to $74.79 a barrel, and US West Texas Intermediate crude fell $1.12, or 1.6 percent, to $70.17 a barrel.
The two benchmarks lost more than $3 on Thursday after a media report indicated that the United States and Iran were close to reaching a nuclear deal, which would lead to an increase in supply. The two benchmarks cut their losses after both countries denied the validity of the report. Ended 29 / h
https://www.mawazin.net/Details.aspx?jimare=228887
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