"Tidbits From TNT" Sunday Morning 2-13-2022

Feb 13

TNT:

Tishwash: In the document. the Federal Court decides that Saleh will continue his duties until the election of a new President of the Repoblic

The Federal Supreme Court decided that the President of the Republic, Barham Salih, would continue his duties until the election of a new President of the Republic.

The court’s decision comes after the cancellation of Hoshyar Zebari’s candidacy for the presidency at the present time and the non-acceptance of his candidacy in the future “due to the lack of conditions stipulated in Article 68/Third of the Constitution of the Republic of Iraq for the year 2005 due to the parliament’s withdrawal of confidence from him when he was Minister of Finance.” link

Tishwash: The Head Of A Bloc Reveals Parliamentary Efforts To Restore The Dollar's Exchange Rate Against The Dinar

The head of the Sabean-Mandaean Parliamentary Bloc, Osama Al-Badri, revealed, on Sunday, that the House of Representatives decided to return the exchange rate of the dollar against the dinar to its previous era due to the damage to the citizen, indicating that restoring the exchange rate of the dollar against the dinar greatly harmed the market.

Al-Badri said in a statement to / the information / that "there are parliamentary moves to return the dollar exchange rate to its old price due to the high inflation."

He added, "The issue will be raised during the upcoming sessions, as it is a popular demand, and that the only victim is the poor citizen."

Al-Badri indicated that "the House of Representatives will put pressure on the competent authorities and decision-makers in order to return it to its old price."

The economic expert, Kovind Sherwani, confirmed in a previous statement to Al-Maalouma the government's ability to reduce the price of the dollar and return it to its previous price. link

************

Tishwash: Economist: We cannot benefit from high oil prices if the 2022 budget is not approved

The economic expert, Nabil Al-Marsoumi, said today, Sunday, that Iraq cannot benefit from the rise in oil prices in global markets because there are many indications that the 2022 budget has not been approved.

Al-Marsoumi said in an interview with Earth News, “The global market today is witnessing a significant increase In international oil prices, Brent crude reached about $95, and the rise in oil prices will certainly reflect positively on the oil-producing country, including Iraq.”

He added, "We noticed last January that Iraqi oil revenues increased to more than eight billion and 250 million dollars, which is a large number that is expected to increase in the coming months of this year, especially since all expectations indicate that the issue of oil reaching the hundred dollar barrier or perhaps breaking this The number is in light of the positive expectations in the global oil market, and this will reflect positively on Iraq, and Iraq will achieve significant financial revenues this year, perhaps exceeding 120 billion dollars.”

Al-Marsoumi continued, "It is assumed that with the increase in Iraqi oil revenues, this increase will reflect positively on the Iraqi people in the direction that leads to improving the quality of life of citizens, providing them with basic services and seeking to find the necessary ways to create job opportunities for the Iraqi citizen, especially the number of unemployed people in Iraq is more than three million people. “

He added, "We also hope that it will be reflected in the level of the ration card items and other basic services such as health and education, and that officials will think well about the need to build a sovereign fund in which part of the oil revenues can be saved in order to face future shocks or crises."

The economic expert added that "there is an important part of the additional oil revenues (ie, the achieved oil benefits) this year in order to build an investment fund that can build many investment projects in Iraq or complete the existing ones, especially the great port of Faw and the dry canal."

He stressed that "but what hinders such an approach is the absence of a budget in Iraq for 2022, and all indications and all indications indicate that the budget is not approved before the middle of this year, and perhaps there will be no budget in this year, and when there is no budget, the exchange is according to the law." Iraq’s financial management on the basis of 12/1 for the previous year.”

And he indicated that "there will be no new investment projects and there will be no expansion in operational spending, appointments, bonuses and promotions will stop, and investment projects will stop, and therefore we count on politicians the need to end disputes and conflicts to prepare the budget because this is the only way to serve the Iraqi people." link