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He moved to approve an emergency budget of $40 billion.

He moved to approve an emergency budget of 40 billionIn light of the economic and financial challenges and the significant decline in oil revenues as a result of the war and regional conflicts, the Prime Minister’s financial advisor, Dr. Mazhar Muhammad Salih, announced that the government is adopting a series of measures to ensure the continuity of the work of state institutions and the provision of basic services in the event of a delay in approving the general budget.

In an interview with Al-Sabah, Saleh confirmed that one of the most prominent of these measures is the application of the temporary spending rule (1/12) of the previous year’s budget, based on the amended Federal Financial Management Law No. (6 of 2019). He explained that this procedure allows for the coverage of essential expenditures such as salaries, wages, pensions, and social welfare allocations, which amount to approximately (8) trillion dinars monthly, while funding continues for basic operational costs. New investment projects are suspended or postponed, and only urgent projects are implemented.

Saleh indicated that the government is working on rearranging spending priorities, focusing on vital sectors, and making limited financial transfers between spending categories within the available legal frameworks. In some cases, it may resort to short-term domestic borrowing to cover the temporary deficit and ensure liquidity stability.

In Parliament, MP Ali Salman al-Moussawi revealed a plan to allocate approximately $40 billion as an emergency budget to expedite and complete projects. He explained to Al-Sabah newspaper that some parties within the coordination framework had requested a budget ranging between $30 and $40 billion to achieve this objective.

For his part, Professor of Financial Economics Dr. Ahmed Al-Hathal affirmed Iraq’s ability to secure operational expenses, but pointed out the need to take exceptional measures to cover investment expenses and strategic projects, in light of the sharp decline in oil revenues, disruption of global supplies and increased geopolitical risks.

Al-Hathal explained to Al-Sabah that the move towards an emergency budget aims to stimulate the economic cycle and prevent the cessation of vital projects related to energy, water, food and infrastructure, explaining that any delay in making the decision will lead to an expansion of the recession, an increase in unemployment and a rise in the bill for stalled projects, which will negatively affect citizens and the local market.

Alsabaah.iq

Al-Bayati: The meetings of the next 72 hours will determine the direction of the session to elect the President of the Republic.

MP Mohammed Al-Bayati confirmed on Wednesday that the meetings of the next 72 hours will be crucial in determining the direction of the April 11 session dedicated to electing the President of the Republic.

Al-Bayati told Al-Maalomah that “important meetings will be held in the capital, Baghdad, during the next 72 hours, between the various political forces and their representatives, in order to move towards understandings that may help in deciding the choice of the President of the Republic during the session on April 11 that will be held by the Iraqi Parliament.”

He added that “the indicators so far are positive, and all parties realize the importance of expediting the formation of the government to manage complex and highly sensitive files, especially those related to the financial and economic situation,” noting that “the country is going through difficult circumstances, especially with the inability to market the majority of crude oil, which represents the backbone of the public treasury’s revenues, particularly with regard to salaries and other obligations.”

Al-Bayati affirmed that “the next 72 hours will clearly determine the direction of the political forces, and whether the April 11th session will result in the election of the president, and subsequently, the nomination of the largest bloc’s candidate to form the government.” He emphasized that “supporting the swift formation of the government is a priority, because the requirements and challenges of the current stage necessitate accelerating the pace of work and paying attention to the nature and sensitivity of this phase.”

Almaalomah.me

Al-Muslawi: The framework movement is “positive” for deciding on the government candidate, and the presidential deadlock awaits Kurdish consensus.

The spokesman for the Reconstruction and Building parliamentary bloc, Firas Al-Muslawi, confirmed on Wednesday that there is a “positive” atmosphere and advanced understandings within the coordination framework to resolve the issue of naming a candidate for prime minister, indicating that the only remaining obstacle relates to the issue of the presidency.

Al-Musalmawi told Al-Maalouma News Agency that “the coordination framework has the ability and will to form the next government as quickly as possible,” noting that “the current stalemate is centered on the issue of the presidential candidate, which has not yet been resolved.”

He added that “the framework will be the true support and strong backing for the incoming government, ensuring its success in making the urgent security and economic decisions required by the current stage,” noting that “the country is in dire need of a fully empowered government capable of confronting challenges and providing services to citizens.”

Almaalomah.me

After a 40-day suspension, Iraq resumes air traffic and reopens its airspace starting today.

The Iraqi Civil Aviation Authority announced on Wednesday the reopening of Iraqi airspace and all airports to air traffic.

Bankin Rikani, the acting head of the Iraqi Civil Aviation Authority, said in a Facebook post, which was followed by Shafaq News Agency, that “ Iraqi airspace and all airports will be open starting today.”

For its part, the Civil Aviation Authority announced, in a statement received by Shafaq News Agency, the reopening of Iraqi airspace to air traffic starting today, after the situation stabilized and conditions returned to normal.

She added that this measure allows the resumption of all civil aviation flights, including transit, takeoff and landing at Iraqi airports, in accordance with the approved regulations and instructions.

The Civil Aviation Authority, according to the statement, affirmed its full commitment to applying the highest standards of air safety and security and to continuous coordination with relevant international organizations to ensure the smooth and efficient movement of air transport.

This decision comes after the suspension of air traffic in Iraqi airspace for about 40 days, due to the security tensions witnessed in the region as a result of the war in the Middle East between the United States and Israel on one side, and Iran on the other, and the accompanying risks to the safety of air navigation.

Shafaq.com

Optimistic estimates: Iraqi oil production to recover to 4 million barrels in 6 months

Economic expert Mohammed Al-Hassani confirmed on Wednesday that Iraq possesses the technical and logistical capabilities to restore its previous oil production levels within a record time, based on the limited damage inflicted on the sector’s infrastructure during the 40-day military conflict in the region.

Al-Hassani told Shafaq News Agency that “the decrease in production to around 1.3 million barrels per day, after it had exceeded the threshold of 4 million, came as a result of compelling circumstances represented by the war and the departure of foreign companies, and not due to any fundamental or structural damage to the oil fields and facilities.”

He added that “the safety of most fields means they are ready for rapid operation, enabling Iraq to raise its production to between 2 and 3 million barrels per day during the first months of stabilizing the security situation.”

The economist pointed out that “a full return to previous production levels (more than 4 million barrels) may be achieved within a period not exceeding six months, provided that foreign companies return and resume periodic maintenance and water injection operations.”

This economic optimism comes after US President Donald Trump’s decision to agree to a two-week ceasefire with Iran, a move that stipulated the resumption of navigation in the Strait of Hormuz to ensure the flow of energy supply chains to global markets.

Shafaq.com

Iranian currency rises in Kurdistan markets after easing tensions with the US

The Iranian rial rose against the dollar as the Erbil Stock Exchange opened in the Kurdistan Region, amid economic expectations of further improvement in the Iranian currency following the easing of tensions between Iran and the United States.

The US dollar fell against the Iraqi dinar, while the Iranian rial rose in the first moments of trading, with the exchange rate reaching 152,900 dinars per 100 dollars, and also recording 155,100 dinars per 100 dollars.

The Iranian rial rose against the dollar in Erbil, reaching 13,500,000 Iranian rials in cash and 16,000,000 rials via remittances, compared to 12,800,000 rials in cash and 15,200,000 rials via remittances, while the exchange rate of the Turkish lira remained stable at 4,430 against the dollar.

In this context, economist and spokesman for the currency market in Sulaymaniyah, Jabbar Goran, revealed expectations of a decrease in the price of the dollar against the Iraqi dinar, in contrast to an anticipated rise in the price of the Iranian toman in the next few days.

Goran told Shafaq News Agency that “the exchange rate of the Iranian Toman this morning in Sulaymaniyah was around 120,300 Tomans per 100 US dollars, while the price of the dollar decreased to 153,000 Iraqi dinars per 100 dollars at the time of preparing this news.”

He added that “these changes are linked to political and economic developments, most notably the easing of tensions between Iran and the United States, as well as potential arrangements for navigation in the Strait of Hormuz.”

He explained that “there are indications of the possibility of reaching understandings or future agreements regarding the management of the strait, which may have a positive impact on the stability of financial markets in the region.”

He added that “these data may lead to a further decrease in the price of the dollar and an improvement in the value of the Iranian currency in the coming period.”

He pointed out that “the nature of the economic policies of the American administration, especially in light of Donald Trump’s orientations, may contribute to pushing towards common economic solutions that achieve a balance of interests, including the issue of managing vital straits.”

This comes after the announcement of a temporary two-week ceasefire between the United States and Iran, brokered by Pakistan, which included a suspension of the mutual attacks that lasted for about 40 days, and the opening of navigation in the Strait of Hormuz, amid reports that Israel had agreed to the truce.

Shafaq.com

Presidential election session: Al-Hikma expects a change in the landscape, while the Kurdistan Alliance links participation to consensus.

Shafaq News – Baghdad MP Zaidoun Al-Nabhani, from the Al-Hikma Movement, stressed on Wednesday the importance of the House of Representatives session scheduled for Saturday, April 11, considering that it may change the political landscape by electing a president and ending the deadlock, while the Kurdistan Democratic Party linked its participation to achieving a political consensus.

Al-Nabhani told Shafaq News Agency, “The beginning of the House of Representatives was promising before it was met with a delay in the political agreement to complete the constitutional requirements until we reached the stage of deadlock.”

He pointed out that “the pressure exerted by members of parliament later to set a date for the session to elect the president of the republic was a step in the right direction,” adding, “We are waiting for April 11 to prove the extent to which the political blocs are keen to adhere to the constitution and achieve the interests of the people.”

He added that “the caretaker government faces major challenges, the most important of which are the security situation and the repeated attacks, in addition to a real crisis in economic matters, most notably the halt in oil exports and the resulting problems in securing salaries and meeting the internal needs for fuel.”

He added that “leaving half of the cabinet ministers to their ministries and engaging in the work of the House of Representatives after winning the last elections created more pressure on the government to carry out daily business,” stressing the need to “form a fully empowered government as soon as possible.”

For her part, MP Avista Mam Yahya of the Kurdistan Democratic Party told Shafaq News Agency that “the party believes that Fuad Hussein is the most suitable to lead Iraq at this critical stage,” indicating that “the decision to enter the parliament session will be linked to the Kurdish leadership in the event that a national consensus is not reached.”

She added that “political consultations are still ongoing and no final results have been reached regarding participation in the session to elect the President of the Republic,” stressing that the party is “keen to find a solution that preserves national and Kurdish interests at the same time.”

The Speaker of Parliament had set April 11 as the date for holding a session to elect the President of the Republic in order to fulfill the constitutional requirement and end the political deadlock.

According to an investigation published by Shafaq News, 70 days have passed since the “constitutional violation” of the election of the President of the Republic, while the period since the legislative elections on November 11, 2025, has reached about 148 days without the formation of a new government.

The Iraqi constitution stipulates that the president of the republic must be elected within 30 days of the date of the first session of the House of Representatives, which was held on December 29, 2025.

The coordinating framework had agreed to postpone deciding on a prime ministerial candidate until after the end of the regional war, while Nouri al-Maliki was nominated on January 24, before the process faltered with the continuation of disagreements over the election of the president.

Shafaq.com

In numbers… The US Chief of Staff reveals “for the first time” the extent of the “destruction” of Iranian capabilities

Shafaq News – Washington/ Mustafa Hashim
In a detailed military statement, the first of its kind, the Chairman of the US Joint Chiefs of Staff, General Dan Keane, revealed the final tally of the 38-day “Epic Fury” operation, confirming that the joint forces had succeeded in completely destroying Iran’s ability to project power beyond its borders.

1. 38-day tally: 13,000 targets destroyed

General Keane announced that US forces had struck more than 13,000 targets inside Iran, including:

* Dynamic targets: Immediate engagement with 4,000 targets that suddenly appeared on the battlefield thanks to the flexibility of the command and control system.

* Air Defense: 80% of the Iranian air defense system was destroyed by targeting 1,500 sites.

* Missile and drone capabilities: 450 ballistic missile storage facilities and 800 suicide drone storage facilities were destroyed.

2. Destruction of the naval fleet and production facilities

The Chief of Staff confirmed that the Iranian navy had settled at the bottom of the Arabian Gulf, explaining the following details:

* Naval force: Sinking 90% of the regular fleet, including 150 major warships and half of the Revolutionary Guard’s fast attack craft.

* Sea mines: 700 strikes were carried out against mine targets, destroying 95% of Iran’s capabilities in this area.

3. Paralyzing the industrial and nuclear base

Keane described the damage to the military infrastructure as “irreparable for many years”:

* Factories: 90% of weapons factories destroyed, including all factories producing Shahed drones and their guidance systems.

* Engines and fuel: Destruction of facilities producing solid-fuel rocket engines.

* Nuclear facilities: Targeting and destroying nearly 80% of Iran’s nuclear industrial base, thus thwarting Tehran’s nuclear ambitions.

4. Details of the participating force and regional alliance

General Keane praised the logistical support and international alliances that facilitated the mission:

* Regional Alliance: Expressed gratitude to Saudi Arabia, the UAE, Bahrain, Qatar, Kuwait, and Jordan for their role in protecting individuals and assets and for joint action.

* Air effort: Execution of 10,000 air missions, including 62 strategic bomber flights, 18 of which were direct (round trip) flights from the United States, missions that each lasted more than 30 continuous flight hours.

* Interceptions: Intercepting 1,700 ballistic missiles and drones that were targeting US forces, partners, and civilians.

5. Readiness message and rescue operation

Keane concluded his remarks by referring to the “epic” rescue of the crew of a fighter jet that crashed last weekend, describing it as an embodiment of the U.S. military spirit that “leaves no one behind.”

The general warned that the current ceasefire is a “warrior’s rest,” stressing that U.S. forces are on high alert (Locked and Loaded) to resume operations with the same speed and precision if Iran violates the truce, saying: “We have destroyed their ability to harm America and our interests for years to come.”

Shafaq.com

The Minister of Finance chairs a meeting to implement the ASYCUDA system in Kurdistan and unify customs procedures.

Finance Minister Taif Sami chaired a meeting on Wednesday (April 8, 2026) to implement the ASYCUDA system in Kurdistan and unify customs procedures.

The ministry said in a statement that “Finance Minister Taif Sami today chaired an expanded meeting to discuss the draft agreement for implementing the ASYCUDA customs automation system in the Kurdistan Region, in implementation of the directives of the Ministerial Council for Economy in its session held on April 6, 2026.”

She added that “the meeting was attended by the Director General of the Federal Customs Authority, the Director General of the Regional Customs and his assistant, the advisor to the Regional Interior Minister, the head of the Information Technology Department there, the Director of the Legal Department at the Federal Customs Authority, in addition to a team of experts from the UNCTAD International Organization.”

During the meeting, the minister stressed “the need to take into account the laws within the ASYCUDA system and to identify all legal conflicts between the two sides in order to harmonize them and obtain official approvals regarding them.”

The statement indicated that “it was agreed to form the ASYCUDA team for the region to be part of the unified national team, with an emphasis on completing all the system requirements by the companies concerned in the region and accurately defining the powers and responsibilities of each party to ensure the smooth flow of work.”

He continued, “In the context of strengthening the technical aspects, Minister Sami directed that a Kurdish language interface be provided within the system and adopted in the forms during actual implementation, similar to the Arabic and English languages, to ensure ease of use. The agreement also included launching a comprehensive training program in which the national team will train the staff working on the system in the region, ensuring raising technical efficiency and unifying customs administration standards in all border crossings.”

Burathanews.com