The tripartite budget faces challenges in some of its paragraphs, and the region is the first to lose

Information / Baghdad… After a difficult cesarean delivery for the tripartite budget, which took place after difficult labor in a dark night, some political parties wishing to do justice to their central and southern provinces returned to trying to challenge some paragraphs of the budget, at a time when the Kurdistan Democratic Party was the first to object to the budget, especially Articles 13 and 14, and it is likely To go about challenging them before the judicial authorities, but some parties confirmed that the region’s appeal would not be in the interest of the people of Kurdistan, who are waiting for the budget to enter into force and implementation.

The representative of the Al-Fatah Alliance, Intisar Hassan, told Al-Maalouma, “The Integrity Committee is in the process of submitting an appeal to the Federal Court in some paragraphs that concern the Kurdistan region, especially since the current budget has put an end to the many violations that were passed to please the governments of the region in the previous period,” a sign That “Parliament is with the southern provinces in fairness in terms of raising the proportions that have been allocated in the general budget, as some of the benefits that Kurdistan obtained were at the expense of the central and southern provinces.”

On the other hand, Representative Ghaleb Muhammad Ali ruled out, in a televised interview followed by Al-Maalouma, that the regional government would resort to challenging the paragraphs of the budget, as going towards such an option would make the Kurds the first loser in the budget, especially since the region cannot export oil and there are salaries that have not been paid. employees, and awaiting the entry into force of the budget in order to disburse the amounts.

On the other hand, the representative of the Sadiqoun Parliamentary Bloc, Ali Turki, confirmed to Al-Maalouma that “approving the budget for three years is an important achievement for the government and parliament, especially since the law was passed amid difficult circumstances amid objections and discussions about the articles of the law, and after this effort made by the House of Representatives There is a fear that one of the articles of the law will be challenged because the appeal of any article will open a wider door to appeal the rest of the articles by some political blocs or independent personalities because they are not convinced of some of the articles.

Almaalomah.me

The Central Bank of Iraq organizes a workshop to upgrade its employees

Yesterday, the Central Bank of Iraq organized a dialogue educational workshop for the employees of the Central Bank of Iraq and managers of administrative departments. The Director of Human Resources Affairs, Dr. Falah Salim, and the Director of the Development and Training Department, Mr. Nizar Al-Khalidi.

The lecturers emphasized the interest in human resources and their repercussions on the performance of the Central Bank of Iraq.

The workshop dealt with ways to raise the employee to the highest levels through development, training and participation in conferences inside and outside the country, and it was emphasized that the employee represents the true image and facade of this ancient institution.

The Central Bank of Iraq,
Media Office

cbi.iq/news/view/2365

A judicial order to seize Al-Kazemi’s money

Shafaq News / An informed source revealed, on Thursday, that a court order had been issued to seize the funds of former Prime Minister Mustafa Al-Kazemi.

The source told Shafaq News agency, “A judicial order was issued to seize the funds (movable and immovable) of Al-Kazemi, after monitoring the presence of financial inflation in it.”

He pointed out that “judicial investigations are continuing,” noting that “no arrest warrants or travel bans have been issued against Al-Kazemi until this moment.”

Shafaq.com

Al-Fateh: The Sudanese government has opened many channels of communication to support the Iraqi economy

Information / Baghdad… A member of the Al-Fateh Alliance, Ali Al-Zubaidi, confirmed today, Thursday, that the government has opened channels of communication with the regional environment and European countries in order to achieve benefit and interest for Iraq, pointing out that gas investment will have its share during the coming period.

Al-Zubaidi said in an interview with Al-Maalouma, that “Iraq has invested its regional relations optimally, and there are correct steps taken by the Sudanese government in order to ensure that Iraq obtains a strong return that benefits the people, unlike what previous governments have done.”

He added, “The coming period may witness the entry of gas companies to Iraq, especially the Qatari, Iranian and Emirati, and thus invest this fuel through the sixth licensing round and ensure that it is not wasted.”

Al-Zubaidi said, “Iraq is ready for a qualitative transition towards benefiting from gas and investing it properly, especially since the Sudanese government has taken the initiative to open the doors to establishing very strong European regional relations.”

He pointed out that “the movements of the government of Muhammad Shia’ al-Sudani, regionally and internationally, will benefit the Iraqi national economy during the coming period.”

Almaalomah.me

Parliamentary Finance explains the impact of approving the budget on the exchange rate during the coming period

A member of the Finance Committee in the House of Representatives and financial expert, Nermin Maarouf, considered, on Saturday, that the entry into force of the budget will be a stabilizing factor for the value of the Iraqi dinar, especially since the money from selling oil in dollars will be disbursed into the Iraqi dinar.

Nermin Maarouf added, in a press interview seen by “Takadam”, “If you redistribute the budget of 200 trillion dinars to the economic sectors, the Central Bank must pay more than 10 trillion dinars per month to the government for expenditures.

And she stressed, “the need for merchants to work through electronic portals to return the dinar to the Central Bank, although the Central Bank confirms that there will be no problems with the shortage of the dinar.”

And the finance member added, “If the central bank can meet the market’s demand and put an end to the black market, the value of the dinar will stabilize, but this cannot be done in one day and it will take several months.”

Takadum-news.com

Iraq, Qatar agree to boost economic, energy cooperation during Emir’s visit to Baghdad

BAGHDAD (AP) — Qatar and Iraq inked a series of economic and energy deals on Thursday during a visit to Baghdad by the Qatari emir, Sheikh Tamim bin Hamad Al Thani.

The two countries signed a broad agreement to expand “cooperation in politics, economics, energy, and investment,” Iraqi Prime Minister Mohammed Shia al-Sudani said in a statement.

They also inked specific deals on transportation, development projects and energy, including “the establishment of a joint oil company, and the construction of an oil refinery” and an agreement on hotel construction, he said.

Qatar’s state-owned Qatar News Agency reported that the emir had announced his country’s intent to “invest $5 billion in a number of sectors in Iraq in the coming years.”

Iraq has sought to strengthen its previously strained relationship with its wealthy Gulf Arab neighbors in recent years and court foreign investment — efforts that have begun to bear fruit.

Last month, Baghdad hosted a one-day conference that convened transport ministers and representatives from Iraq, the Gulf Arab countries, Turkey, Iran, Syria, and Jordan, culminating in the announcement of plans for a $17 billion regional transportation project intended to facilitate the flow of goods from Asia to Europe.

In April, QatarEnergy, the Gulf country’s state-run petroleum company, announced it had agreed to buy a 25% stake in a massive gas project in Iraq.

Iraq urgently needs to develop local gas resources to meet electricity demands, especially during the peak summer months. The country is heavily reliant on Iranian gas and electricity imports.

Al-Sudani also said Thursday that Iraq, which has suffered decades of upheaval and violence, now “enjoys security and political stability, which makes it a promising environment” for projects.

“Iraq has regained its normal position and role in the region, and it is ready to work with brothers and friends to achieve peace, prosperity and development,” he said.

The Associated Press

The Iraqi Central Bank is moving to open new channels for external transfer

Shafaq News / The Governor of the Central Bank of Iraq, Ali Mohsen Al-Alaq, noted, on Sunday, the possibility of opening new channels for external transfer of hard currency, and raising the rate of daily transfers.

This came during the periodic meeting of governmental and private banks, which was held in Baghdad, according to a statement received by Shafaq News Agency, and witnessed a discussion of a number of projects that are consistent with the requirements of the economic reality in Iraq.

Al-Alaq stressed that these projects establish a qualitative shift in the economy of Iraq and enhance its stability, “revealing at the same time the project to establish a Riyada Bank, and the project to establish a loan guarantee company that facilitates the lending process for medium, small and micro enterprises.”

He referred to the direction of the Central Bank of Iraq, in cooperation with the government and the contribution of the financial, banking and business sectors, to establish a “city of financial and business center in Iraq.”

Al-Alaq participated in the discussions put forward by a group of banks regarding the Central Bank’s initiatives, the relationship between banking institutions and customers, and what is related to developing mechanisms for entering the electronic platform for selling foreign currency.

Shafaq.com

Iraq announces a six-day holiday on the occasion of Eid al-Adha

Shafaq News / The Prime Minister, Muhammad Shia’a Al-Sudani, directed that the Eid Al-Adha holiday be from Tuesday, June 27, 2023, until Sunday, July 2, 2023.

This came during a meeting of the Iraqi Council of Ministers.

Shafaq.com

Al-Kalabi: The President of the Republic did not sign the budget in order to study it well, and he has “15” days

A member of the Parliamentary Finance Committee, Representative Youssef Al-Kalabi, confirmed today, Monday, that the President of the Republic, Abdul Latif Rashid, has not yet signed the budget, in order to study it well, indicating that he has a validity of 15 days.

And Al-Kalabi said, in statements followed by the insider, that: “The President of the Republic did not sign the budget to study it well, and he has a validity of 15 days, and if it is not approved this week, it will take place after 15 days, 7/1, the budget will be launched, God willing.”

Al-Kalabi continued: “Peaceful demonstration is a guaranteed right, and the people are the source of legislation, and participation in seminars in which real members of society express their opinions freely and we listen to them.”

And Al-Kalabi indicated: “We agree with them or disagree with them on another aspect. I think this is the spirit of legislation.”

Almutalee.com

Iraq retreats 3 ranks among the largest holders of US bonds

Shafaq News / The US Treasury announced, on Tuesday, that Iraq has fallen three ranks among the largest foreign holders of US bonds.

The treasury said in the latest table seen by Shafaq News agency, “Iraq fell three ranks after it reduced its holdings of bonds during last April, to reach the 36th rank among the countries with the largest possession of US Treasury bonds, which number 38 countries listed in the table of countries that must It has more than $28 billion.

And she added, “Iraq’s possession of these bonds amounted to $34.8 billion for the month of April, down by 11.45% from last March, which Iraq’s possession of bonds amounted to $39.3 billion, but it increased by 23% from March 2022.”

The treasury also indicated that “Iraq was the fourth largest Arab country after Saudi Arabia, the UAE and Kuwait, while Japan came at the top of the countries with the largest possession of these bonds at $1.127.2 trillion, followed by China second with $869 billion, the United Kingdom third with $680 billion, and Belgium fourth.” with 336 billion dollars, and Luxembourg fifth with 332 billion dollars.

And she indicated that “the total bonds of the countries of the world for the month of April rose by 7 billion dollars from last February, to reach 7 trillion and 580 billion dollars.”

Shafaq.com