Al-Abadi calls on Parliament to reconsider the exchange rate of the dinar

The head of the victory coalition Haider al-Abadi called on the House of Representatives to reconsider the exchange rate of the dinar in order to control inflation.

“The reduction in the exchange rate of the dinar has negatively affected citizens, especially those with limited income,” Al-Abadi said in a tweet on Twitter followed by Alsumaria News.

He added, “With the significant increase in oil prices during the past month, I call on the House of Representatives to stand with the citizens and reconsider the exchange rate of the dinar in order to control inflation.”

The decrease in the exchange rate of the dinar has negatively affected citizens, especially those with limited income. With the significant increase in oil prices during the past month, I call on the House of Representatives to stand with the citizens and reconsider the exchange rate of the dinar in order to control inflation.

Haider Al-Abadi (@HaiderAlAbadi)

Agreeing to pass the eleventh article in the budget that includes the Kurdistan region’s share

Baghdad – People… The Presidency of the Council of Representatives agreed with the delegation of the Kurdistan region to pass the eleventh article of the budget, which includes the region’s share of the current year’s budget, which is expected to be voted on.

Deputy Diyar Barwari confirmed, in a statement to “People” (March 19, 2021) that “discussions are still going on between the Kurdish and Shiite blocs to reach an alternative proposal to the one sent by the government.”

He said, “The pressure on the Kurdistan region comes to reduce the constitutional and legal powers and powers.”

He explained that “what the provinces are going through in terms of neglect, injustice, corruption and failure to deliver funds for investment to Han, as they want the experience to be repeated in the Kurdistan region, and this is rejected by the parties, and the constitution defines the powers and authorities.”

The deputy expressed his “hope to reach workable formulas that are applicable.”

Nasnews.com

Kurdistan Democratic Party announces the agreement to pass the budget

A member of the Parliamentary Finance Committee for the Kurdistan Democratic Party, Bashar al-Kiki, announced that a political agreement had been reached to pass the budget.

Al-Kiki said in a statement, “We congratulate all the Iraqis that Erbil and Baghdad have agreed to pass the budget.”

“A new phase of stability and coexistence between the components of the Iraqi people has begun,” he added.

Dijlah.tv

The Iraqi Council of Representatives decides to hold the budget session at 10 am on Saturday morning

Shafaq News / The Presidency of Parliament announced, on Friday, the postponement of the vote on the budget law until tomorrow, Saturday.

A statement by the Speaker of the Council, Muhammad Al-Halbousi, received by Shafaq News, stated that “due to the continuous discussions between the MPs and the committee and for the purpose of completing the details and final printing, the Presidency of the Council decided to hold the session tomorrow at ten in the morning.”

She added, “The final version of the budget bill will be circulated to you as soon as it is completed by the Finance Committee.”

The House of Representatives was scheduled to hold a session today, Friday, to vote on the General Budget Law for 2021, but the differences between the political blocs ended without that.

to hold a session today, Friday, to vote on the General Budget Law for 2021, but the differences between the political blocs ended without that.

Shafaq.com

The Finance Committee votes to approve the amendment of the Kurdistan Region’s budget share clause

The Finance Committee votes to approve the amendment of the Kurdistan Region’s budget share clause.

Shafaq.com

Next Monday, the Supreme Court will begin implementing the Federal Court Law

Baghdad – Mawazine News, the Supreme Judicial Council confirmed, on Thursday, that it will implement the Federal Supreme Court law, starting from next Monday.

The council’s media stated in a statement that Mawazine News received a copy of, that “the President of the Supreme Judicial Council, Judge Faiq Zaidan, invited members of the Supreme Judicial Council to meet on Monday morning, March 22, 2021, to implement the Federal Court Law Amendment Law No. 30 of 2005, which was approved by the Council. Representatives on March 18, 2021. ”

The statement added, “The president and members of the current Federal Court will be honored on the occasion of their retirement.”

The House of Representatives voted, during its session held today, Thursday, on the First Amendment Law (Order No. 30 of 2005), the Federal Supreme Court Law.

Mawazin.net

Parliamentary proposal to vote on the Federal Court and the budget with “one basket”

Shafaq News / A parliamentary source said, on Wednesday, that there is a political proposal to vote on the Federal Court and the budget laws in one basket.

The source said to Shafaq News Agency, that “there is a proposal among some political blocs that the vote on the Federal Court and the budget be in one basket, provided that the political blocs offer their concessions in exchange for voting on the two laws at tomorrow’s session, Thursday.”

The source pointed out that “the Shiite blocs have no objection to voting on the region’s share of the budget, as stated in the government text that the Kurdish blocs give up on the unanimous voting clause in the Federal Court Law.”

The Federal Supreme Court is the highest court in Iraq, which has jurisdiction over constitutional disputes. It was established by Law No. (30) of 2005 in accordance with Article (93) of the Constitution. Its decisions are binding on all authorities, and it is completely independent from the regular judiciary and there is no connection between them. It is based in Baghdad and consists of a president and eight members.

Parliament had voted to amend a number of provisions of the Federal Court Law in effect on Monday, after it was unable to overcome differences over three articles in the new draft law for the Federal Court.

This amendment contravenes the Iraqi constitution, which stipulates in Article 92 / Second: “The Federal Supreme Court consists of a number of judges, experts in Islamic jurisprudence, and legal scholars, whose number is determined, the method of their selection and the work of the court shall be regulated by a law enacted by a two-thirds majority of the members of the House of Representatives. “.

Discussions are still ongoing in the corridors of Parliament to agree on the remaining articles to pass the new bill, in order to remedy the constitutional breach.

Shafaq.com

Iraq possesses 248 billion dollars “stored” in the ground … a treasure that covers all of Iraq’s expenses for more than two years.

Yes Iraq: Baghdad… The talk in Iraq goes back to the precious minerals and natural elements that it possesses and the need to invest them in addition to oil, so government figures revealed a shocking number about the country’s sulfur reserves, so that what Iraq possesses represents 59% of the total of what the whole world owns.

The General Director of the General Company for Mishraq Sulfur, Abdel Moneim Al-Jubouri, said that “the reserves of the Mishraq fields 1, 2 and 3 in Nineveh Governorate are estimated at 354 million tons of the world’s total reserves of 600 million tons of sedimentary sulfur,” which represents more than half of the world’s reserves.

He added that “the fields of Mishraq sulfur were invested within the Iraqi-Polish cooperation agreement by the Centrosab Corporation in the early 1970s,” noting that “the company mainly produces (filtered sulfur) materials and (alum) used in water purification and (sulfur). Ground agricultural) and (sulfuric acid) ”.

He pointed out that “the production line (filtered sulfur) has stopped since 2003 due to the company’s exposure to acts of looting during the sabotage incidents that accompanied the war on Iraq,” indicating that “the company, within its allocations from the investment plan of the Ministry of Industry and Minerals, worked to restart the production line.”

Sulfur since 2010 and contracted with an international company at the time specialized in equipping specialized wells rigs for sulfur and preparing a plant for its filtering, ”expressing his“ regret at the stoppage of rehabilitation and operation of the (filtered sulfur) production line after the (ISIS) terrorist gangs occupied the province.

And between “the arrival of this line to Iraq in 2015 and deposited with the General Company for the Manufacture of Southern Fertilizers in Basra Governorate.”

And he stressed that “the company’s management developed a plan since last year to restart the sulfur production line, after obtaining the necessary approvals from the ministry to transfer and set up the refining plant, which is the main link of the production line, which was imported by the American company (Devco) at an estimated cost of 90 billion dinars. It is now in the process of restarting it. ”

Al-Jubouri called for “increasing the financial allocations through the investment plan within the federal budget so that we can restart the sulfur production line with a production capacity of one million tons per year,” indicating that “if this is not possible, the company can go to announce the (filtered sulfur) production line as an opportunity.” An investment and an invitation to international companies specialized in its industry, as it is the main activity of the company.

How much is the value of what Iraq possesses?

The global price of a ton of sulfur is estimated at about $ 700 per ton, which means that the value of what Iraq has is equivalent to $ 248, which is sufficient to cover the country’s expenses and budgets for 3 years.

Yesiraq.com

Iraq aims for “Prosperous Economic Zone” with Jordan, Egypt

Prime Minister Mustafa al-Kadhimi has spoken of creating a “New Mashreq”, to harness the broad common interests between Iraq, Jordan and Egypt in order to create a prosperous economic zone that will benefit all countries in the region and in which Iraq would play a major role.

Addressing staff at the headquarters of the Foreign Ministry in Baghdad, the Prime Minister said that, “Iraq also has multifaceted relations with the Kingdom of Saudi Arabia and with all other Gulf countries, and that the Iraqi government is proceeding with several investment projects with these countries in various sectors including agriculture, industry and energy.”

He also pointed out that Iraq concluded a rail link agreement with Iran, which will connect Iraq with northern China and create new economic opportunities.

The Prime Minister added that Iraq must continue with this approach, face internal and external crises, and work to resolve them through multi-track diplomacy that responds to the developments of the new world.

“We have a comprehensive vision for resolving conflicts and building peace, and we call on internal and external parties to play it, and to move together towards achieving a comprehensive and lasting peace” concluded Prime Minister Al-Kadhimi.

(Source: Govt of Iraq)

Iraq-businessnews.com

Representative economy: The rise in oil prices must be matched by the devaluation of the dollar against the dinar

Information / Special… The Parliamentary Economic and Investment Committee stressed the need to take advantage of the high global oil prices to reduce the value of the dollar against the Iraqi dinar, in order to achieve stability in market prices.

Committee member Mithaq Al-Hamdi said to / the information /, that “the government raised the exchange rate of the dollar under the pretext of a large deficit in the budget, at a time when oil prices have risen above the price specified in the budget, which requires the government to reconsider the dollar exchange rate.”

She added that “the House of Representatives calls for a review of the dollar exchange rate, and to reduce it from the current figure, as it harms the interest of the citizen, and therefore should be reduced to a level that meets the deficit and achieves stability in prices.”

She indicated that “there is a big difference in the price of oil specified in the budget, and the market value that it has reached now exceeding the threshold of $ 70 a barrel, which makes it imperative for the government to take measures that would benefit from the rise in oil prices and reduce the value of the dollar against the dinar.” 25 n

Almaalomah.com