The Cabinet Secretariat sends lending mechanisms to the Central Bank of Iraq initiative

Alsumaria News – Today, Thursday, the General Secretariat of the Council of Ministers sent to the Central Bank of Iraq a mechanism for granting loans to projects without interest or reduced interest by making use of the amounts allocated to finance these projects and supervising them with the aim of activating the private sector and facilitating its procedures.

The General Secretariat forCouncil of Ministers In a statement received by Alsumaria News, “The mechanisms stipulated that the Central Bank present a vision about the success of the salary settlement project and overcoming the challenges it faces in coordination with the competent banks, submitting it to the committee concerned with setting up the mechanisms, and studying the reported request in a letter Ministry of Labor And social affairs regarding the request to allocate an amount within the initiative The Central Bank of Iraq to me Labor Fund In the ministry; In order to grant loans to the unemployed registered in the database, as well as to support the owners of creative and innovative projects, from technical and legal aspects, in coordination with the Ministry of Labor and Vocational Training Department, and to present the results of the study within two weeks.

The statement added that “the mechanisms also included a study of the proposal of the advisory body and the notes of the competent banks on the adoption of private banks on par with government banks in the procedures for lending and to submit the necessary proposals regarding it.”

Alsumaria.tv

An economist calls for a speedy end to the differences and preparation for the international turnout

Information / On Tuesday, a researcher in economic affairs, Yahya Al-Haddad, called on the political forces to resolve differences, end conflicts over gains, and move towards urgent elections in preparation for the international turnout on Iraq .

Al-Haddad said, in a statement to the information agency, that “the Pope’s visit to the holy city of Najaf in particular is a recognition of the great role that the reference plays in the security and political axis,” indicating that “it is a victory for the humanitarian role of the Shiite authority in Iraq in particular and the Arab world over Public face ”.

He noted that ” Iraq, after this historic visit of Pope Francis, needs to be fully prepared and open new horizons of political orientations as it is on a new date of international interaction with Iraq in all files, especially the economic file.”

He explained, “The political forces must settle their accounts and put the interest of Iraq above all considerations, because the next stage will witness a boom for investments in Iraq, and this process needs political security before considering any step, which depends on the size of the responsibility that the leaders of Iraq bear at this stage.”

And between, it is “necessary to end all the belongings of early elections and speed up to take place because it is a dangerous weapon threatens all the process of investment in Iraq , ” explaining that “large investment countries in Iraq , do not consider the public interests as much as interested in the security of the region in which they operate and the extent of the ability of the decision Politician to tame that security.

He pointed out that ” Iraq is fertile land, and the visit of the Pope, as the biggest leader of the Christian community, stimulated international business companies and began to talk in the media about large investments that will be presented to the new Iraqi government.”

An Iraqi coalition: The budget is going to be passed by the majority and freely available

Information / Special … A coalition of Iraqis confirmed, on Wednesday, that the budget is going to be passed after the negotiations reached dead ends.

The deputy of the Iraqi coalition, Jasim Al-Bakhati, told Al-Malouma that “the region wants to deliver oil imports for exporting 400,000 barrels from which extraction, transportation and the region’s need for fuel are deducted.”

He added that “what is left of it is not worth anything, especially the prices at which he sells Kurdistan,” noting that “the Ministry of Oil proposed to deliver oil imports for 250 thousand barrels at current approved prices, which was rejected by the Kurds.”

He explained that “the majority is now with the passage of the budget by the majority and is going in this direction and is available and comfortably inside Parliament.”

Almaalomah.com

Al-Karawi: 90 percent of the budget files are settled, and the problem with “Kurdistan” is still present

The information / Baghdad… MP Abd al-Khaliq al-Azzawi confirmed, on Tuesday, that 90% of the budget files have been settled, while indicating that the problem with Kurdistan still exists.

Al-Azzawi said in an interview with “the information”, that “next Monday, two important draft laws will be presented. The first concerns the completion of the vote on the Federal Court Law as it is the most important framework in the course of the upcoming elections, and the second is the budget that represents the most important laws in the country, especially since the Finance Committee handed over the budget.” To preside over the council for more than 20 days after completing the mechanisms of scrutiny and discussions.

Al-Azzawi added, “90% of the budget files are settled, but the problem with the Kurdistan region on the issues of oil and its export and border crossings still exists, pointing out that political consensus is a very important framework in resolving complications, and we hope that discussions in the coming days will reach a framework that leads to consensus in resolving.” Budget file ”.

The budget law is one of the most important laws that define the state’s path in the financial framework and formulate government spending policy in all ministries.

Almaalomah.com

Deputy: The budget is ready for voting, and next Monday’s session will be decisive

Baghdad Today – Baghdad… Today, Wednesday, a member of Parliament, Asaad Al-Morshedy, confirmed that the House of Representatives session set for next Monday to put forward the budget bill for 2021 will be decisive, given that the only victim is the citizen from the delay in passing the budget.

Al-Morshidi said in an interview with (Baghdad Today), “The budget is ready for voting and the parliamentary finances have sent the bill to the Presidency in order to put it to vote next Monday.”

He added that “political differences between Baghdad and Erbil were behind the delay in approving the draft budget, and therefore it is inevitable to pass it in the next parliament session.”

And that “all economic projects are stalled in the country because of the delay in approving the budget, so the Iraqi citizen is the only one affected by what is happening,” stressing that “the dismissal will be said to Parliament regarding the passing of the budget.”

The Speaker of Parliament, Muhammad al-Halbousi, agreed to include the 2021 budget bill on the agenda of the next Monday’s session.

Baghdadtoday.news

Disclosure of a political agreement to pass the oil and gas law

The MP for the Sadikoun Parliamentary Bloc, Fadel Al-Fatlawi, revealed today, Tuesday, a political agreement to pass the oil and gas law.

Al-Fatlawi said in a statement to “Tigris”, that “the political blocs are heading towards passing the oil and gas law after completing the laws of the Federal Supreme Court and the federal budget for 2021,” noting that “the law may be presented inside the parliament during the next week.”

He added that “the law is of great importance in solving the outstanding problems between Baghdad and Erbil and the oil-producing provinces,” noting that “passing it will achieve justice in the distribution of wealth and the revival of poor areas.”

He continued, “The law enjoys great political support in Parliament, and there is a serious intention to settle it and pass it during the current legislative term.”

Dijlah.tv

“Financial battle” next Monday … Baghdad and Erbil: hold on and excluded

Baghdad – NNC… Despite the House of Representatives setting the date for voting on the 2021 budget bill, “political pressure” is still the most prominent player in passing the law or not, especially after the Federal Court Act turned into a “pressure paper” by some political parties, but on the other hand. The State of Law Coalition finds it difficult to pass “suspicious deals” and that the budget will pass by the majority of “number” and not “consensuses”.

The disagreements over the draft budget and the Kurdistan region’s share in it in return for not paying what it owed to the federal government are not a result of the moment, and go back to years ago, but they were evident at the end of last year during the parliament’s vote on the law on financing the fiscal deficit, which was passed without the Kurds voting on it, and about the possibility of re- This experience in the current draft budget, the deputy of the Kurdistan Islamic Union Jamal Cougar says that “it is difficult to pass the budget in next Monday’s session without political consensus with the Kurdish blocs.”
And he adds to the “National News Center” that “there are political parties that have linked the vote on the budget law and the law of the Federal Court,” stressing that “those parties hinted that the Federal Court law would not be passed if the budget was passed in Monday’s session.

On the latest agreements between Baghdad and Erbil, Cougar explains that “we do not have a problem with the government text in the budget law, but the Shiite blocs rejected that text,” adding, “It recently reached a new legal text requiring the receipt of oil imports for 460 thousand barrels.”

For many years, the governments of Baghdad and Erbil have not reached any agreement regarding oil and non-oil revenues, and the central government often demands the regional government to hand over the revenues to the state treasury, but without this being achieved.

Many of the region’s delegations arrived in the capital, Baghdad, with the aim of discussing the agreements between the two parties, and meetings usually take days, the last of which was the delegation that arrived in Baghdad in late January, and stayed in Baghdad for more than 20 days, with the aim of reaching solutions that satisfy all parties regarding the budget.

In addition, the deputy from the State of Law coalition indicated that Alia Nassif said in an interview with the “National News Center” that “the heads of political blocs are embarrassed by the lack of agreement with the region regarding the passing of the budget.”

She added that “it is difficult to pass any suspicious political agreements,” asserting that “we have collected 150 signatures within Parliament to include the Budget Law in the next Monday’s session.”

She pointed out that “passing the budget in Monday’s session will be by a numerical majority and not political consensus, in case it passes.”

Yesterday, the Speaker of the House of Representatives directed that the budget bill be included in next Monday’s session, based on a request submitted by Representative Youssef Al-Kalabi signed by 150 deputies.

The leader of the State of Law coalition, Nuri al-Maliki, said on the current March 6, regarding the 2021 budget bill, that the issue is a rights issue, and the government does not have the right to seize a right for the region or the provinces.

And the budget – to my knowledge – still contains many forms related to the region regarding the amount of oil that must be delivered, and the amount of money that should be given in addition to the previous debts and the debts owed, and I do not think that it will pass, and MPs have informed me of their refusal to pass the budget unless the number of barrels that are proven The region must hand it over.

Confusion was raised about the budget and the Kurdistan region’s share in it, against the background of the arrival of the draft budget law to the House of Representatives from the Council of Ministers, And it was represented that the budget of the region exceeds the budgets of the governorates of the south combined, according to statements by some representatives, as well as the lack of commitment of the region to pay Baghdad’s oil dues and revenues from the border outlets, which formed an objection to consensus to pass them.

Nnciraq.com

The European Union and the World Bank issue a joint statement on the economy of Iraq … and an urgent request

According to the joint statement, “Following the launch of the IECG on October 22, 2020 in London, the Government of Iraq met with its international partners in the Director-level Economic Contact Group on March 2, 2021, to conduct an assessment of the recent reform steps, in order to start identifying Align international support, and map the way forward towards holding a high-level contact group meeting in late spring of 2021. ‘

He explained, “The Iraqi economy has faced multiple shocks that have led to a severe recession and high poverty rates, and that structural obstacles that have accumulated for decades limit the availability of financial reserves to mitigate the social and economic impact on Iraq’s most vulnerable citizens and its commercial projects. As a result, engaging in reforms is the fastest way.” To reverse the course of the situation. ”

The statement added, “Indeed, the long-term success of Iraq is crucial to the stability of the entire region; but the Iraqi economic model based on oil is facing an increasing challenge from a young and growing population that needs to diversify job opportunities, and from an irreversible global trend towards decarbonization and access to a green economy.” .

He continued, “The Iraqi government has taken commendable steps to address immediate and long-term financial and economic challenges by initiating a frank discussion about the requirements for structural reform to address financial imbalances, address critical infrastructure gaps and direct the Iraqi economy towards sustainable and comprehensive development, including gender equality.”

“As partners and friends of Iraq, we have indicated our appreciation for the steps taken recently to move from analysis to implementation, as evidenced by the Cabinet’s approval of the implementation plan for the White Paper, including the governance structure to achieve this goal,” the statement indicated. “.

He called for “expediting the adoption of a reform-oriented Iraqi national budget, given the need for it to provide the necessary means and tools to ensure that Iraq can continue on its reform path towards stability. At the same time, we have been informed of the additional work needed to implement reforms. There is an economic and social cost to delay.” In taking action. ”

“Therefore, it will be necessary now to start urgent implementation based on the identified priorities. The reform agenda must be an integral part of a broad and open dialogue between the government of Iraq, its parliament and its citizens, in order to ensure that the future of Iraq is formulated in a comprehensive manner,” the statement concluded.

Alforatnews.com

A huge batch of money will cover Iraq: the deficit disappears completely and 12 trillion dinars are surplus .. What does it mean for oil to cross the $ 70 barrier?

Yes Iraq: Baghdad… Iraqi optimism and reassurance continues with greater financial prosperity this year, with the continued rise in oil prices, which today broke the $ 71 strongly, for the first time in more than a year.

As oil prices jumped, today, Monday, to reach the highest level in more than a year, to surpass the price of futures contracts for Brent crude $ 71 per barrel, for the first time since January 8, 2020, while trading data indicated an increase in May futures contracts for North Sea oil mixture brand Brent rose 2.32 percent to $ 71.15 a barrel.

How much height will it add?

According to government statements and SOMO statistics, Iraq issues about 3.5 million barrels per day, while the 2021 budget calculated the price of a barrel at $ 45 and calculated on the basis of the revenues and the deficit, which decreased to only 25 trillion.
With the arrival of oil prices above the $ 71 mark, the price difference between what is specified in the budget and the prices reached today is more than $ 25.

According to calculations made by the “Yes Iraq” platform, this price surplus will add about $ 25 billion this year, and with the difference in the new exchange rate, it will enter the treasury about 37 trillion Iraqi dinars, at a time when the deficit is only 25 trillion, which means that it will flood as well. About 12 trillion Iraqi dinars during the year 2021, if oil prices stabilized above the $ 70 barrier.

Will the prices continue to be high?

Mazhar Muhammad Salih, the economic advisor to the prime minister, points out that the continuation of oil prices at the $ 70 per barrel barrier will dispense with borrowing.
Saleh said, “The global economic crisis is towards easing after the rise and recovery of global oil prices, reaching the $ 70 barrier.

He added, “The deficit has shrunk and it is possible to dispense with borrowing if the price of a barrel of oil continues towards the current price,” noting that “the global oil surplus has ended and OPEC is looking to increase production for all exporting countries and urges them to do so.”

Saleh explained that “the disappearance of 10% of the global oil surplus dispels fears of a return to low oil prices, which means that the budget reaches the equilibrium stage.”

Yesiraq.com

The Iraqi Parliament votes on controversial articles in the Federal Court Law

Today, the Iraqi parliament voted on a number of articles of the Federal Court Law , which is the last of the laws against holding the upcoming parliamentary elections , amid disagreements over other articles, and warnings from political forces that they will not be passed.

Before the session was held, the political forces held a meeting inside the parliament building, during which they discussed the contentious articles of the law and the possibility of consensus on them.

During a session attended by 255 deputies, Parliament Speaker Muhammad al-Halbousi presented the remaining paragraphs of the law, and paragraphs 8, 10 and 21 were passed, which are among the controversial articles in the law.

The deputy of the “Sairoun” coalition, Sabah Al-Ugaili, told Al-Araby Al-Jadeed that “the three articles are related to the issues of service, salaries and retirement, and they were voted on after the dispute over them was settled.”

He explained that “the remaining articles are the second article and it concerns the numbers of judges and jurists, and there is a disagreement about it, and the third concerns how to nominate judges and jurists and the party that nominates them, and Article 12 concerns the method of voting inside the court, and it has been postponed to the next session.”

He stressed that “these articles are very important and are the core of the law, and Christians objected to them if they wanted to be represented among the judges.”

The deputy of the coalition of Iraqis, Jasim Al-Bahati, considered the objection to the other paragraphs “unjustified,” stressing to “Al-Araby Al-Jadeed”, that “the components’ objection to those articles is a political objection.

He pointed out that “it was agreed with the Presidency of Parliament and other forces that the law would be completed during the Saturday session,” stressing that “those forces object to the appointment of the jurists, and considered their presence pushing the direction of the religious state.”

On the other hand, the advisor to the Speaker of Parliament for Component Affairs, Imad Youkhana, called on the civilian components and blocs and the deputies who believe in a civil state, to “not allow the passage of the law, as it establishes a religious state and imposes the majority religion on all Iraqis,” stressing in a press statement that “the law strikes Human rights and democracy are out of the question. ”

He stressed that “all civil forces and civil society organizations must move urgently to stop this legislation by all available constitutional and legal means.”

The former representative of the Kurdish forces, Arafat Karam, warned against passing the law, as it establishes the “religious state”, and said in a tweet on “Twitter”, that “granting the right of veto to Sharia jurists in the Federal Court law is the consolidation of the religious state, and the undermining of the civil state, because Sharia jurists are not infallible until they possess this advantage. What they say is human ijtihad may be wrong and may be right, and what was tolerant of right and wrong is not suitable for reversal at all.

Last Thursday, the Iraqi parliament voted on the majority of the articles of the Federal Court’s law, after political consensus was reached on them.

The problem of the Federal Court began at the end of 2019 after the retirement of one of its members, Farouk Al-Sami, as the court was unable to appoint an alternate member after earlier canceling the only legal text that regulates the court’s work, pending the parliament’s legislation of the Federal Court Law, which would Establish appropriate mechanisms for selecting new members.

And the Iraqi Elections Commission has previously expressed its readiness to hold early elections on the specified date, stressing that holding elections requires the fulfillment of several conditions, including the parliament completing the quorum of the Federal Court, which is the only body authorized according to the law to certify the election results.

Alaraby.co.uk