Iraqi News Monday Afternoon 5-16-22
Iraqi News Monday Afternoon 5-16-22
TLM724 Administrator BondLady’s Corner
A Deputy Calls On Al-Kazemi To Compel Kurdistan To Implement The Decisions Of The Federal Court Or Take Legal Measures Against The Regional Government
Monday 16 May 2022 16:28 | economic Number of readings: 16 Basra / NINA / - A member of the Oil, Gas and Natural Resources Committee, the representative of Basra Governorate, "Ali Shaddad," called on Prime Minister Mustafa Al-Kazemi to take serious and real steps towards the Kurdistan region due to his failure to recognize the Federal Court's decision No. 110 of 2019, which committed the regional government to a set of decisions regarding The unconstitutionality of the oil and gas law in Kurdistan.
” Shaddad, in an official letter addressed to the Prime Minister, indicated that the regional government commits daily major constitutional violations, in addition to its failure to recognize the decisions of the Iraqi judiciary, which requires the federal government not to remain silent about these violations and to take explicit positions. regarding it.”
He pointed out that "the federal government must expedite sending the Federal Oil and Gas Law to the House of Representatives for approval and action, in addition to approaching the European and Turkish Central Bank to seize funds belonging to the regional government because of Iraqi oil smuggling and to sue the company charged with transporting Kurdistan oil internationally."
Shaddad added that among the things that the federal government must take is to follow up the lawsuit filed at the International Arbitration Tribunal in Paris against the Turkish government for violating the agreement signed in 2010 and to allow Kurdistan oil to pass through its territory, and to put pressure on all companies and countries contracting with the Kurdistan region to stop these contracts As illegitimate as stipulated by the Federal Supreme Court in the country and placing the abstaining companies on the blacklist.”
He stressed, "The federal government should not send the funds allocated to the Kurdistan region from the 2022 budget until after the regional government has committed to the full paragraphs of the Federal Supreme Court's decision and pledged to comply with all decisions issued by the Iraqi judiciary, as is the case with the rest of the other Iraqi cities and governorates."/ End https://ninanews.com/Website/News/Details?key=976501
Iraq Records A Decrease In Annual Inflation And An Economist Calls For Investing The Financial Surplus
Posted On2022-05-16 By Sotaliraq On Monday, (economics trading) website, which specializes in monitoring financial inflation, recorded a slight decrease in inflation in Iraq, while a financial expert stressed the need to direct surplus funds towards investment projects and reduce government debt.
The website stated in an official statistic of the annual inflation of the Group of Twenty, that "the annual inflation in Iraq reached during the last statistic for the month of February 5.1%, down from 5.3%, while the rate of GDP growth at the end of last year reached 5.9%."
And he indicated that "the government debt to the gross domestic product amounted to 59.3% at the end of last year 2021."
In turn, the economic expert, Hilal Al-Tahhan, stressed "the need to take advantage of the surplus funds resulting from the rise in oil prices by directing them towards investment projects to move the wheel of the Iraqi economy."
He pointed out that "the financial surplus is a great opportunity for Iraq that may not come like it in the future at all, especially with the world's countries heading towards clean energy."
Al-Tahhan called for "the need to reduce government debt, whether externally or internally, in order to improve Iraq's credit rating," adding that "foreign debts are paid according to pre-set schedules and times."
On the other hand, the website stated that “Turkey recorded the highest annual inflation in the group, reaching 69.97% in April of this year, followed by Argentina 58%, Russia third 17.8%, Brazil came fourth with 12.13%, while the Netherlands ranked fifth with 9.6%, and came The United States of America is sixth, 8.3%.
And the site continued, "Spain came in seventh with 8.3%, India in eighth with 7.79%, Mexico in ninth by 7.68%, while the eurozone came in tenth with 7.5%." He added, "Germany ranked 11th with 7.4%, the United Kingdom 12th with 7%, and Canada 13th with 6.7%." LINK
Deputy Speaker Of Parliament Accuses The Oil Ministry Of Creating Problems Between Erbil And Baghdad
Money and business Economy News-Baghdad Deputy Parliament Speaker Shakhwan Abdullah accused the Federal Oil Ministry of "creating problems between Erbil and Baghdad."
Abdullah said, in a statement, "The Ministry of Oil fabricates false accusations against the Peshmerga forces and spreads lies through (the North Oil Company), and its claim to control and bypass the fields (Bay Hassan and Daoud Korkah) in Kirkuk Governorate ."
He stressed that "those lies and allegations were denied by the Kurdistan Regional Government in whole and in detail and in an official statement," noting that "he made a personal contact with the two parties from the federal forces and the forces of the region, and it was found that there was no military movement in the contact areas ."
Abdullah expressed his regret at what was found to be pressure by the Minister of Oil in the Federal Government on the North Oil Company to spread allegations for political goals to maintain positions and mix papers to destabilize the region and Iraq in general, and to overlook corruption files, especially after The Minister of Oil learned that the House of Representatives has completed all legal and constitutional procedures, to question him during the upcoming sessions .
The Deputy Speaker of Parliament denounced these desperate attempts by the Ministry of Oil and its endeavors to “involve federal institutions in political issues and issues, and confuse the situation to serve factional interests, and harm the national interest, and this is what every patriot who is jealous of his country rejects .” https://economy-news.net/content.php?id=27997
The Iraqi Stock Exchange Is Trading Shares Worth 43 Billion Dinars In A Week
Posted On2022-05-16 By Sotaliraq Today, Monday, the Iraqi Stock Exchange announced that it traded shares with a financial value of more than 43 billion dinars during the past week.
The market said in a report that “the number of companies whose shares were traded during the past week amounted to 56 joint-stock companies, while the shares of 33 companies were not traded due to the lack of convergence of the prices of purchase orders with sales orders, while 15 companies continue to stop for not providing disclosure out of 103 companies listed in the market. “.
He added that "the number of traded shares reached 52 billion and 617 million and 097 thousand shares, with a financial value of 43 billion and 867 million and 396 thousand dinars, through the implementation of 3410 deals," noting that "the ISX60 traded price index closed at 583.47 points, recording a decrease of 1.19% from its closing." in the previous session.
He pointed out that the number of shares purchased from non-Iraqi investors for the past week amounted to 287 million shares, with a financial value of 497 million dinars, through the implementation of 62 deals, while the number of shares sold from non-Iraqi investors reached 325 million shares, with a financial value of 966 million dinars, through the implementation of 380 Deal.
It is noteworthy that the Iraqi Stock Exchange organizes five trading sessions per week from Sunday to Thursday, and includes 103 Iraqi joint stock companies representing the sectors of banking, telecommunications, industry, agriculture, insurance, financial investment, tourism and hotels. LINK
Finance Minister: The Federal Court's Decision Will Affect Our Ability To Manage Public Finances
The Minister of Finance, Ali Abdul Amir Allawi, confirmed that the Federal Court's decision regarding the emergency support law will affect our ability to manage public finances.
Allawi said in a statement, "The decision issued by the Federal Supreme Court regarding the powers of the current government has important implications for the work of the Ministry of Finance, and the court in fact ruled that the current draft law on emergency financing proposed by the government is outside the powers of this government."
He added, "The Ministry of Finance drafted the emergency law with the full knowledge of the House of Representatives, and the project proposal was keenly interested in investing the gains arising from the rise in oil prices to confront the global rise in the prices of basic commodities that affected the poor in our country and to enhance our ability to confront food emergencies in the future, and to cover the cost of production Crude oil by the Ministry of Oil, to repay the Ministry of Electricity’s debt on fuel imports, and to help strengthen the Ministry of Finance’s financial barriers.”
He added, "Such a law was necessary in the absence of the 2022 budget due to the multiple funding issues the government faced. This draft law was in no way intended to be a substitute for a full budget."
He pointed out that "the bill proposed by the Ministry of Finance was approved by the Council of Ministers and submitted to the House of Representatives for consideration, and today the Supreme Court issued its ruling, which made the bill inapplicable."
He stressed that the Ministry of Finance fully respects the decisions of the highest court in the country and is working to implement them, but we must make it clear that the court's decision will have an impact on our ability to manage public finances in a way that will mitigate the effects of the global rise in commodity prices and allow the government to meet the demands of the electricity sector with The beginning of the summer, in addition to the inability to meet the costs of oil extraction by the Ministry of Oil, and to build a reserve stock of grain.”
"In our scattered political environment, where government formation takes months to complete, it is difficult to see how stripping the caretaker government's powers to manage crises and emergencies would serve the greater national interest," he noted. https://www.radionawa.com/all-detail.aspx?jimare=29487
The Dollar Depreciates Against The Dinar
Economie| 09:54 - 16/05/2022 Baghdad - Mawazine News, the dollar exchange rates fell, today, Monday, on the Iraqi Stock Exchange. And the selling prices of the dollar were 148000 dinars per 100 dollars, while the purchase prices of the dollar were 147,900 dinars per 100 dollars. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=193277
Alia Nassif Comments On The Escape Of The Mayor Of Baghdad Abroad.. She Stresses: His Dismissal Will Not Absolve Him Of Accountability.
Monday 16 May 2022 15:53| political Number of readings: 104 Baghdad / NINA / - Representative Alia Nassif confirmed the escape of the mayor of Baghdad, Alaa Maan, out of Iraq before the issuance of the Diwani order to relieve him of his position, noting that his dismissal would not absolve him of accountability and legal accountability for dozens of charges of corruption, waste of public money, and administrative, financial and legal violations.
Nassif said in a statement today: "The interrogation files of the Secretary of Baghdad, Alaa Maan, will go to the Integrity and Judiciary Commission, and the decision to relieve him of his position will not intercede for him or protect him from legal accountability.
Nassif described Prime Minister Mustafa Al-Kazemi’s decision to relieve the Mayor of Baghdad as Hakim, after Baghdad witnessed during his reign a series of service failures and the low level of services and even their absence in many areas of the capital, Baghdad, at a time when this secretary was preoccupied with investment deals and changing the gender of land uses for narrow personal interests until he arrived Providing municipal services to the people of Baghdad is at the bottom of his list of interests.”
She emphasized: “The achievements that this secretary who is mired in corruption and bribery talked about were just paper slogans and pictures on social media.”
Nassif indicated that “this secretary managed to escape outside Iraq before the issuance of the The Diwani order to relieve him of his position for fear of legal prosecution, noting, "This matter will not stand in the way of his recovery from the country in which he resides after submitting his files to the judiciary and integrity and issuing judicial orders to arrest him."/End of 7 https://ninanews.com/Website/News/Details?key=976491
Launching A World Bank Grant To Support Higher Education Projects In Iraq
Money and business Economy News – Baghdad Today, Sunday, Minister of Higher Education and Scientific Research, Nabil Kazem Abdel Sahib, announced the launch of a World Bank grant to support higher education projects in Iraq .
In a statement, Abdel-Saheb said, "The university educational environment is witnessing a remarkable expansion and demand due to the rapid population growth rate, and the financial aspect represents a challenge for the Ministry of Higher Education and Scientific Research and its university institutions that work on parallel tracks to achieve simultaneous goals, based on community service and quality performance." and outputs,” calling for “a review of the indicators and financial allocations for universities
He explained that "the Ministry of Higher Education and Scientific Research has identified, within its strategy, which extends until 2030, an urgent goal, related to the need to develop specialized scientific universities that suit the labor market and benefit from partnership and coordination with international donors ."
The minister renewed the demand to "give the education file a top priority in the funding file," noting that "public budgets indicated diminishing financial allocations for this file over the past years ."
In turn, Andreas Blow, Director of Education Practices at the World Bank in the Middle East and North Africa, said, "The World Bank has worked with its partners in the Iraqi government over the past two years to prepare support for higher education, which represents an important sector in Iraq known for its history and educational and scientific status ."
He added, "The five million dollars granted by the World Bank will contribute to providing training environments in universities and new laboratories, and supplying society with priority disciplines, especially renewable energies, health, agriculture and electricity," stressing that "the World Bank is committed to this support to develop and improve the quality of education ." https://economy-news.net/content.php?id=27979
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