Will the exchange rate change?

Manar Al-Obaidi wrote: There are a lot of discussions these days regarding the review of the exchange rate and whether it will be changed or not and return it to 1200
First, any change in the exchange rate in the near future will have major repercussions, including a loss of confidence in the Iraqi economy.

Secondly, the exchange rate was under pressure from the World Bank and the international bodies supporting Iraq, and the process of returning the price will lead to a reduction in support from these parties.

Third, even with a change in exchange rates, most of the materials will not return to their normal prices directly. Rather, a period of mistrust will prevail in the Iraqi market that will make importers maintain a high exchange rate for fear of the possibility of a return to high.

Fourth, the government should take advantage of the currently high price of oil to immediately start building strategic industrial projects capable of providing raw materials for manufacturing industries, which will support the provision of a local product capable of providing various products to the Iraqi market.

Fifthly, if the exchange rate must be changed, it is better to move towards floating the dollar instead of the policy of controlling the exchange rate and depleting hard currency to maintain a stable exchange rate.

Sixth, what is required of the Ministry of Planning is to work aggressively to clarify the sectors most affecting the rise in the price of the dollar and to work actively to launch programs packages to reduce the impact of the decrease in the price of the dinar on these sectors, especially in the food and health sector.

Seventh, work on issuing a performance follow-up report on the development plan, which is the basis for building the country and activating the correct economic policies instead of focusing on monetary policy, which is supportive of economic policy and not the pillar of the Iraqi economy.

Eighth, the need to activate the 3 trillion initiative announced by the Central Bank to support vulnerable groups and work to activate the ration card and improve its vocabulary.

Yesiraq.com

Central bank sales are declining again

Yes Iraq: Baghdad… On Tuesday, the Central Bank of Iraq’s hard currency sales decreased for a second day, by 31 percent, to $ 48 million.

The correspondent of Shafaq News Agency stated that the Central Bank of Iraq witnessed during its auction for the sale and purchase of foreign currencies today a decrease in its sales by 31.53 percent to reach 48 million and 67 thousand dollars, which the bank covered at a base exchange rate of 1460 dinars per dollar, compared to Monday, when sales reached It has 70 million and 198 thousand dollars.

The purchases amounting to 48 million and 67 thousand dollars went to strengthen the balances abroad in the form of transfers and credits, while the banks did not purchase any dollars in cash.

Our correspondent indicated that 10 banks have fulfilled the requests to enhance the assets abroad.

Yesiraq.com

Kurdistan Minister: There are no major differences over the budget with Baghdad, and after it is approved, we will proceed with the budget of the region

Shafaq News / The Minister of Planning in the Kurdistan Region, Dara Rashid, expressed on Tuesday his optimism that the federal budget for 2021 will be approved, including the region’s share during the upcoming sessions of the Iraqi Parliament and after the completion of the approval of the draft law of the Federal Supreme Court.

Rashid said in a press conference held in the Parliament of Kurdistan and attended by the correspondent of Shafaq News Agency, that the draft Federal Court law caused the postponement of the budget bill being included in the agenda of the Iraqi Council of Representatives, adding that the Federal Court law has cut good stages for its approval, and then the budget vote will start.

He pointed out that there are no points of contention between Erbil and Baghdad over the draft budget law, and we in the regional government are committed to the text contained in the draft law sent by the federal government.

The minister added, “Of course, any bill when it reaches Parliament undergoes changes, but we do not see that there are major differences between us and the Iraqi political parties and blocs over the budget, and we hope that we will skip this issue in the coming sessions because approving the budget is in the interest of Iraq in general and in the region.” Kurdistan in particular.

Regarding the region’s budget for the current year, the Minister of Planning said that “the draft budget law for Kurdistan is ready, but one of its paragraphs includes the region’s share in the federal budget in relation to the operational and investment budget and the amount of money that the region will receive, stressing that the issue of determining the price of selling the region’s oil in its budget is linked to what Parliament will decide it in the federal budget.

Shafaq.com

Deputy: The Federal Court Law will be decided today, and the option to go to the alternative is the closest

The information / Baghdad… MP for the Alliance of Saeroun Riyadh Al-Masoudi confirmed, on Tuesday, that the House of Representatives gave the Kurdish representatives until six o’clock this evening to agree to pass the Federal Court’s law, which requires agreement on three remaining articles of the law. Presidency of the Republic as a whole, which needs a simple majority.

Al-Masoudi said in a statement to / the information /, that “the House of Representatives voted yesterday to amend the Federal Court’s law sent by the Presidency of the Republic, and the vote on it has been postponed in general to give the Kurdish representatives an opportunity to agree on Articles (2, 3, 12) of the new court law. Until today six o’clock in the evening. ”

He added that “in the event that a two-thirds quorum is completed for the members of the House of Representatives, the law will be voted,” indicating that “in the absence of a quorum, the amendment will be voted on only, which needs a simple majority.”
The House of Representatives completed in an early hour on Tuesday morning the voting on the remaining articles of the First Amendment Law (Order No. 30 of 2005), the Federal Supreme Court Law. Ended / 25 AD

Almaalomah.com

Iraq decides to allow the entry of citizens of 37 countries to enter its territory through a visa at its airports

Baghdad Today – Baghdad… The Iraqi Ministry of Interior decided to allow citizens of 37 countries to be granted entry visas to its lands after their arrival.

A document issued by the Ministry of Interior and addressed to the Civil Status, Passports and Residence Directorate, stipulates that “the citizens of America, Britain, France, Russia, China, Germany, Italy, Belgium, Luxembourg, the Netherlands, Denmark, Ireland, Gibraltar, Greece, Spain, Portugal are included. Sweden, Austria, Finland, Estonia, Poland, the Geek, Slovakia, Slovenia, Cyprus, Malta, Hungary, Bulgaria, Romania, Croatia, Australia, Canada, South Korea, Japan, “by granting regular entry visas at airports and border crossings in exchange for an entry visa fee, as of March 15, 2021

Baghdadtoday.news

Deputy: Internal Parties Are Pressuring The Finance And Central Bank To Keep The Exchange Rate Of The Dollar

The Independent / Ali Al-Nasr Allah / .. Member of the Al-Fateh Alliance, MP Hamid Al-Mousawi, revealed that there are internal parties and parties that are pressuring the Ministry of Finance and the Central Bank to keep the dollar exchange rates as they are for personal purposes and unilateral benefits.

In a statement to Al-Mustaqilla, Al-Mousawi expressed his surprise at the financial and central subordination to the pressure of the International Monetary Fund regarding exchange rates.

He said, “Those parties (he did not name them) do not look at the catastrophic effects that will be caused by the collective refusal to keep exchange rates as they are.”

Mustaqila.com

A representative source confirms the inclusion of the budget law in next Tuesday’s session

Baghdad: Al Furat News…  A representative source confirmed, on Saturday evening, that the federal budget for 2021 will be included in the session next Tuesday.

And the source stated (to Euphrates News) that “the 2021 budget bill will be included on the agenda of next Tuesday’s session.”

On Saturday, the House of Representatives announced that the vote on the Federal Court bill would be completed at next Monday’s session.

In a brief statement, the Information Department stated, “Al Furat News” received a copy of it, that “the work schedule for the session on Monday, March 15, 2021 includes the completion of voting on the draft Federal Court bill.”

Alforatnews.com

What are the “technical reasons” that impede the budget?

Yes Iraq: Baghdad… The push and pull still hangs over the fate of the 2021 budget, especially after the agenda of the House of Representatives session today, Monday, was devoid of the draft budget.

While there is talk about the fact that Article 11 related to the share of the Kurdistan region and its financial obligations towards Baghdad is the focus of the dispute that obstructed the agreement on the budget, parliamentary statements come out from outside the Finance Committee and for different political blocs, recording many new objections about the budget that go beyond the issue of the dispute with the Kurdistan region.

The talk began to escalate about the fact that returning the price of the dollar to its previous era, has become a major controversial issue standing in the way of passing the budget as well as job grades and provincial shares and other files.

The Financial Committee is “optimistic”: only technical reasons delay the budget!
However, the Finance Committee is still talking about “resolving matters” and the fact that the dispute is related only to Article 11, promising the existence of “semi-final” to these differences, and that the postponement of the vote on the budget came for “technical reasons”, without clarifying the concerned with these technical reasons, especially with the approaching year Ending its first quarter without balancing.

Where a member of the Parliamentary Finance Committee, Muhammad Ibrahim, said today, Monday, that “the budget was postponed to tomorrow’s session, Tuesday, due to the presence of some technical measures, as well as in order to complete some aspects related to it and then submit it to a vote.”

He added, “There is near-consensus between Baghdad and Erbil to pass the budget, as the postponement of its presentation in Parliament is to give more time about the agreement between the two sides on the contentious articles in the budget.”

He stressed that “Article 11 of the budget is the focus of the dispute between the two governments, especially with regard to the region’s dues since 2004 and the quantities of oil exported across the region, as the issue is still revolving around political dialogues.”

What are the technical reasons?

Returning to previous statements, MP Riyadh Al-Masoudi says, “The problems and disagreements about the draft budget law for the year 2021 are not related only to the share of the Kurdistan Region, but there are technical differences, including the issue of the exchange rate of the dinar against the dollar, as well as the issue of including functional degrees in the law, in addition to the surplus sums. With the rise in oil prices, and others ”.

Al-Masoudi ruled out “the possibility of passing the budget bill without the agreement of all political parties on it, but this agreement has not happened until now.”

From here it appears that the “technical differences” are related to fundamental issues, as according to Al-Masoudi’s statement, the issue of the dollar’s ​​price as well as job grades falls within the technical differences that the Finance Committee talks about.

Yesiraq.com

Parliamentary Finance reveals the latest developments in the budget debate

Economical: Al Furat News… A member of the Parliamentary Finance Committee said that “there is convergence regarding the share of the Kurdistan Region in the draft federal budget law for the current year 2021.”

Sherwan Mirza said in a press statement, “The Kurdish blocs are waiting for the Shiite blocs to present their last opinion regarding the region’s share,” noting that “there is convergence between the two sides in opinions.”

He added, “The government proposal and the proposal of the Shiite blocs are close.”
Mirza ruled out “passing the budget law in the House of Representatives without the Kurds,” noting that “there may be a final agreement regarding the region’s share in the last moments before the vote on the bill in the parliament session scheduled for next Monday.”

The Speaker of Parliament, Muhammad al-Halbousi, had directed in the last session to include the draft federal budget bill for 2021 in the parliament session scheduled for next Monday, based on a request submitted by Representative Yusef al-Kalabi signed by 150 deputies.

Alforatnews.com

Al-Sadr’s Alliance is distancing the Kurdistan Region from delaying the budget and disclosing other differences

Shafaq News / The Saeron Alliance, supported by the leader of the Sadrist movement, Muqtada al-Sadr revealed, on Saturday, that the dispute over the Kurdistan Region’s share in the 2021 budget is not the reason for the delay in voting on it by the House of Representatives.

The deputy of the coalition, Riyadh Al-Masoudi, told Shafaq News, “The problems and disagreements about the draft budget law for the year 2021 are not related only to the share of the Kurdistan Region, but there are technical differences, including the issue of the exchange rate of the dinar against the dollar, as well as the issue of including job degrees in the law, in addition to The surplus amounts due to the rise in oil prices, and others. ”

He added, “Until now, there is no agreement to pass the 2021 budget law during next Monday’s session,” explaining that “the inclusion of the law for a vote on it does not mean passing it or getting approval for that.”

Al-Masoudi ruled out “the possibility of passing the budget bill without the agreement of all political parties on it, but this agreement has not happened until now.”

The Deputy Speaker of Parliament, Bashir Al-Haddad, had ruled out last Thursday the approval of the federal budget for 2021 at the mid-session next week.

Al-Haddad said in a statement to reporters in Erbil that it is “difficult to pass the financial budget in next Monday’s session because the Federal Court law has not been approved yet,” stressing that another special session for the budget should be determined.

Last Monday, Parliament Speaker Muhammad al-Halbousi directed that the budget bill be included on the agenda of next Monday’s session, based on a request submitted by Representative Yusef al-Kalabi, signed by 150 deputies.

Shafaq.com