The General Secretariat of the Council of Ministers holds a meeting to discuss the loans launched by the Central Bank

Central Bank of Iraq logo

Banks

Economy News – Baghdad

The General Secretariat of the Council of Ministers held, on Tuesday, a special meeting to discuss the loan package recently launched by the Central Bank. 

The General Secretariat said in a statement seen by “Al-Eqtisad News”, that the Secretary-General of the Council of Ministers, Hamid Al-Ghazi heads “the agenda of the committee concerned with setting up a mechanism for granting loans to projects without interest or reduced interest, within the initiative of the Central Bank of Iraq in cooperation and coordination with government banks.”

According to the statement, Al-Ghazi stressed that “the initiative aims to revitalize the private economic sector and facilitate procedures related to granting loans, and benefit from the amounts allocated to finance projects, according to the facilities approved by the committee during its previous meetings.”

The meeting witnessed the discussion of “proposals and studies submitted by a number of ministries and institutions, pertaining to their employees, and mechanisms for lending agricultural projects modified by the sub-committee, which will contribute to providing appropriate facilities to borrowers.”

The committee also discussed, “the proposal of the advisory body, regarding the amendment of the lending procedures for the approval of private banks on par with government banks, and the inclusion of all proposals in the recommendations for the purpose of approval and referred to the relevant authorities to act accordingly.”

https://economy-news.net/content.php?id=24198

A phone call between Al-Kazemi and Biden

379 Policy 02/24/2021 00:32

Baghdad today

Mustafa Al-Kazemi – Tweet 

In a phone call with US President Joseph Biden, I discussed developing bilateral relations, strengthening partnership in the interests of both countries, working to support security and peace in the region, and continuing cooperation in fighting ISIS.

We also affirmed the work to continue the strategic dialogue between our two countries on the basis of Iraqi national sovereignty.

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The Iraqi Council of Ministers issues 7 new decisions – urgent

383 Policy 02/23/2021 20:36

Baghdad Today – Baghdad

The Cabinet issued 7 new decisions at today’s session according to an official statement issued by the office of Prime Minister Mustafa Al-Kazemi.

The office said in its statement that, “Today, Tuesday, the Council of Ministers held a regular session headed by Al-Kazemi, during which the latest developments in the country were discussed, as well as discussing the topics included in its agenda.”

At the beginning of the session, the Prime Minister praised the efforts of the state institutions and agencies that contributed to the implementation of the curfew, and thanked all citizens who adhered to the health ban measures, and confirmed that the escalation of commitment to preventive measures will enable us to reduce the effects of the new and more dangerous strain of the epidemic.

Regarding the security situation in the country, Al-Kazemi affirmed “the continuation of pre-emptive operations against terrorism, to eliminate what remains of its remnants and to dry up its sources,” praising “the efforts of the heroic security forces of all kinds, and they are linked day and night in pursuing terrorist cells” and

Al-Kazemi stressed that “Iraq will not It will be an arena for settling scores, “he said, adding that” the absurd missiles are an attempt to embarrass the government and impede its progress. ”

The prime minister stressed that “the security services will be able to reach the perpetrators and they will be brought before public opinion.”

In another file, Al-Kazemi said that “weak souls have been awaiting the collapse of the economic situation since October and November last, but government measures have enabled Iraq to pass this difficult stage in a wise manner.”

 He stressed that “the foreign exchange reserves of Iraq, after it was threatened with collapse, started to escalate, and it is expected that it will increase by nearly four billion dollars by the end of this month, since the start of the reform measures and changing the exchange rate, and corruption operations have been greatly reduced in the Central Bank auction.” And he indicated that the government is working with deliberate plans to revitalize the Iraqi economy, support the private sector and provide more job opportunities.

According to the statement, the Minister of Health and Environment presented a report on the developments of the work of the Committee to Promote Governmental Measures in the areas of prevention and control of health and awareness regarding limiting the spread of the Coronavirus, and also reviewed the efforts of the Ministry of Health in facing the pandemic and continues awareness campaigns targeting citizens and urges them to adhere to preventive measures.

The statement emphasized that if the Council of Ministers discussed what is included in its agenda, it issued the following decisions:

First / Approval of the draft law on judicial protection for companies manufacturing Covid-19 vaccine and referring it to the House of Representatives based on the provisions of Articles (61 / First Item) and (80 / Item Second) of the Constitution.

Second / Approval of the Ministry of Health providing the vaccine from the Chinese Sinopharm Company.

Third / Approval of increasing the capital of the General Company for North Electricity Distribution, one of the Ministry of Electricity formations, by an amount of (974109524557) dinars, only nine hundred and seventy-four billion one hundred and nine million five hundred and twenty-four thousand five hundred and fifty-seven dinars, which represents the amount of the company’s capital increase approved by the Supervision Bureau Federal Finance, based on Article (10 / First / 1) of the Public Companies Law (22 of 1997) as amended.

Fourth / Approval of the following:

– Issuing instructions to facilitate the implementation of the provisions of the law to perpetuate the sacrifices of the martyrs of the war against ISIS terrorist gangs, to expedite the completion of their transactions and to take careful care of the wounded, based on the provisions of Article (9) of the Law on Immortalizing the War Martyrs Against ISIS Terrorist Gangs and speeding up the completion of their transactions and care Al-Faeqiah Bal Wounded No. 81 of 2017

– The issuance of the rules of procedure for the committee overseeing the implementation of the provisions of the Law to perpetuate the sacrifices of the martyrs of the war against ISIS terrorist gangs, accelerate the completion of their transactions and take care of the wounded No. 81 of 2017, based on the provisions of Articles (6 and 9) of the Law of Commemorating the Martyrs of War Against ISIS terrorist gangs Accelerating the completion of their transactions and taking careful care of the wounded No. 81 of 2017.

Taking into consideration the opinion of the legal department in the General Secretariat of the Council of Ministers regarding the aforementioned instructions and rules of procedure.

Fifth / Agreeing to abolish Paragraph 1 of Cabinet Resolution (92 of 2020), which includes selling barley for export purposes, and to work with the rest of the paragraphs on feed barley processing in support of livestock breeders.

Sixth / Approval of the recommendation of the Ministerial Energy Council No. (27 of 2021) according to the following: –

Approval of the extension of contracts for the transportation of petroleum products to power plants ending on March 1, 2021, until April 30, 2021, to complete the new referral procedures, according to what was mentioned in the Ministry of Oil book No. (F / 120) on February 22, 2021.

Seventh / Approval of writing off the amount of the remaining debts amounting to (16124500000) dinars, only sixteen billion one hundred twenty-four million five hundred thousand dinars, distributed to the employees of the Teachers Syndicate within the numbered plot (3 m 4, the northeastern island of Najaf), based on the provisions of Article 46 ) Of Federal Financial Administration Law No. (6 of 2016), and Clause I of Cabinet Resolution (28 of 2020).

Media Office of the Prime Minister 

23 – February – 2021

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The Iraqi government expects a rise in foreign reserves of $ 4 billion by the end of February

The Prime Minister, Mustafa Al-Kazemi.

February 23, 2021 5:53 PM

Mubasher: Today, Tuesday, the Iraqi Council of Ministers held its regular session chaired by the Prime Minister, Mustafa Al-Kazemi.

Al-Kazemi said, according to the media office of the Prime Minister, that the foreign exchange reserves of Iraq began to rise after it was threatened with collapse, and that it is expected to increase by nearly 4 billion dollars by the end of this month. Since the start of the reform measures and the change of the exchange rate.

The Prime Minister added that corruption has been greatly reduced in the Central Bank auction, stressing that the government is working with well-thought out plans to revitalize the Iraqi economy, support the private sector and provide more job opportunities.

Al-Kazemi pointed to the general commitment of citizens to the health ban, as well as the efforts of the institutions and state agencies that contributed to its implementation, indicating that the escalation of this commitment will enable the state to reduce the effects of the new and more dangerous strain of the epidemic.

The Prime Minister stressed that the land of Iraq will not be an arena for settling scores, warning that absurd missiles are an attempt to impede the government’s progress and embarrass it, but the security services will reach the perpetrators and they will be brought before the public opinion.

Al-Kazemi noted that pre-emptive operations against terrorism are continuing and escalating to eliminate the remaining terrorist holes and outposts.

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The negotiating delegation of the Kurdistan Regional Government postpones its visit to Baghdad until further notice

Politics

Baghdad

breaking

Provincial government delegation

2021-02-23 08:55

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Shafaq News / The representative of the Kurdistan Regional Government in Baghdad, Faris Issa revealed on Tuesday that the negotiating delegation of the Kurdistan Regional Government decided to postpone its visit to the Iraqi capital until further notice.

The delegation was scheduled to return to the capital in the coming hours to start a new round of negotiations regarding the region’s share of the federal budget for 2021.

The Finance Committee of the Iraqi Parliament had announced earlier in the day in a statement that it had sent a letter to the Presidency of the Council of Representatives on the fifteenth of this February, in which it stated that it had completed the semi-final draft of the 2021 budget draft, and the only outstanding point is the text on the obligations of the region Kurdistan, the details of which were mentioned in Article 11 of the draft law.

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Al-Kazemi announces two economic “achievements”, one of which is related to the change of the exchange rate

2,385 Policy 02/23/2021 16:20

Baghdad Today – Baghdad

Prime Minister Mustafa Al-Kazemi announced two new economic achievements.

Al-Kazemi said during the cabinet session today, speaking of the first achievement, “after it was threatened with collapse, the foreign exchange reserves of Iraq are rising, and it is expected that they will increase by nearly 4 billion dollars by the end of this month, since the reform measures started and the exchange rate change.”

He added, “As has been a significant reduction in corruption operations in the auction of the Central Bank, and we are working with thoughtful plans to revitalize the Iraqi economy and support the private sector and provide more job opportunities.”

Regarding the second achievement, Al-Kazemi said: “Weak souls have been waiting for the collapse of the economic situation since October and the last two, but government measures have enabled Iraq to pass this difficult stage in a wise manner.”

In the Corona file and government measures, he said, “We value the general commitment of citizens to the health ban, and we also evaluate highly the efforts of state institutions and agencies that have contributed to its implementation. The escalation of this commitment will enable us to limit the effects of the new and more dangerous strain of the epidemic.”

Earlier, the advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed that Iraq is on the brink of economic recovery, indicating that the Supreme Committee for Reform has important decisions to promote the public and private sectors.

In an interview with the semi-official Al-Sabah newspaper, Saleh explained that “Iraq is on the edges of economic recovery at present in two areas. The first is that there is a tangible agricultural boom that will achieve growth in the non-oil GDP in 2021 by more than 4% and it is increasing. About one and a half times the population growth, and the second scope is the boom in the energy demand sector in the world. Oil prices have gradually recovered, which is a positive sign and strengthens the country’s general financial capacity.

Saleh stressed “the need to deal with this matter with great caution, by laying a basis for sustainable development and reducing economic shocks.”

He pointed out that “the international community supporting Iraq through the International Financial Alliance team, which was established months ago, expressed its desire to support the established principles for the sustainability of growth in the national economy as expressed in the white paper recently approved by the Council of Ministers by establishing a blueprint and an institutional entity (for economic reform), which is considered The support for this developmental sustainability. ”

He added that “the formation of the Supreme Committee for Reform that will have decisive and radical executive decisions to promote productive, investment and operational activity in the public and private sectors will be supported by a large international presence represented by the multilateral international financial institutions and the Group of Seven major industrial countries,” pointing out that “the availability of national and international will will embody its features.” By participating in the reconstruction and establishment of the reform and transformation team in the country from (crisis economy) to (construction economy and sustainable development), to be the cornerstone of the economic transition for development. ”

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Prices of the OPEC oil “basket” rise to $ 62

Economy

Iraq

High oil prices

OPEC oil

2021-02-23 06:31

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Shafaq News / Prices of OPEC’s basket of oil rose, on Tuesday, to $ 62, affected by the rise in other oil materials.

OPEC stated in a report seen by Shafaq News; The price of OPEC’s basket of thirteen barrels of crude rose by 70 cents to reach 62 dollars, compared to the previous day, which reached 61.30 dollars.

Some experts attributed the rise in OPEC prices as a result of being affected by other raw materials, which were also affected by the reduction in OPEC production and the halt in production of oil fields in America after the cold and frost wave swept across the US state of Texas, where most of America’s crude oil production is located.

The Organization of the Petroleum Exporting Countries (OPEC) reference basket consists of the following: Sahara Blend (Algeria), Girasole (Angola), Djeno (Congo), Zafiro (Equatorial Guinea), Spring Light (Gabon), Heavy Iran (Islamic Republic of Iran) Iran ), Basra Light (Iraq), Kuwait Export (Kuwait), S Sidr (Libya), Bonny Light (Nigeria), Arab Light (Saudi Arabia), Murban (United Arab Emirates), and Miri (Venezuela).

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Parliament: The visit of the Kurdish delegation will result in a joint agreement and vote on the budget on this day?

Political | 01:54 – 02/23/2021

BAGHDAD – Mawazine News

The Parliamentary Finance Committee considered, on Tuesday, that the visit of the Kurdish delegation scheduled for today will result in a joint agreement, pointing out that the vote on the budget will be either Thursday or Saturday.

The deputy of the committee, Shirwan Mirza, said that “during the next two days, crucial meetings will be held to finalize the issue of the Kurdistan region’s share of the federal budget for the year 2021, because matters have reached the end and it is not permissible to delay the budget any longer.”

He added, “All orientations are going to hold a session to vote on the budget, either next Thursday or Saturday next week. Therefore, during the next two days, crucial meetings will be held to finalize the draft budget bill.”

He explained, “There is a great convergence between the negotiating delegation of the Kurdistan Regional Government and the Finance Committee, and I envision that there will be a joint agreement on the Kurdistan region’s share of the budget soon.”

https://www.mawazin.net/Details.aspx?jimare=142973

Al-Khalidi is surprised that the cabinet has formed a committee to study the consequences of changing the currency exchange rate

The head of the committee to follow up on the implementation of the government program and strategic planning, Hazem al-Khalidi, was surprised today, Tuesday, that the Cabinet had formed a committee to study the consequences of changing the currency exchange rate.

Al-Khalidi said in a press statement, “We were astonished by the decision of the Council of Ministers in its session held on (2/22/2021) to form a committee to study the consequences of changing the currency exchange rate and to propose the required solutions as far as the matter is related to investment projects where the committee is headed by a representative of the Ministry Planning and membership includes, in addition to the General Secretariat of the Council of Ministers, representatives of the ministries of finance, reconstruction, housing, works, public municipalities and electricity, as well as the National Investment Commission, the Central Bank of Iraq and the Federation of Iraqi Contractors.

He indicated that “it was the first to pay this great attention to studying the damage that occurred to citizens as a result of raising the exchange rate of the dollar, especially since the Ministry of Planning had announced some time ago that the poverty rate in Iraq had exceeded 31.5%, in addition to the large increase in prices that exceeded a third.” The value of all commodities and services exacerbated the poor living conditions of many middle and vulnerable families, and the poor citizen was the most affected.

He added, “The government’s tendency to form a committee to study the damage inflicted on contractors confirms the realism of our repeated demand to review the decision to raise the dollar’s unprepared exchange rate and return it to what it was in order to avoid all these damages, whether they are on the poor, low-income people and the general population. With contractors only, and neglecting the situation of millions of Iraqis affected by that, adding an article to the draft budget bill includes compensation to contractors at a value of (500) billion dinars, but the strangest thing of all is that the government senses the damage inflicted on contractors and does not feel the damage that has befallen citizens.

https://aynaliraqnews.com/index.php?aa=news&id22=144185

Parliamentary planning: The budget will be passed quickly when presented to a vote

money and business

Economy News _ Baghdad

The Government Program Control and Strategic Planning Committee, Tuesday, ruled out returning the budget to the government because the amendments that were made in agreement with the government are likely to pass the budget quickly if it is presented to a vote.
The deputy head of the committee, Mohamed Karim, said in a press interview, “The Finance Committee communicates first-hand with the government when making amendments to the budget paragraphs by taking into account the government’s view,” excluding “returning the budget to the government because its point of view is first known.”
He added, “Most of the representatives of the political blocs, including those in the region, are keen to find solutions to the problem of the region and that solutions are available because the two parties have come a long way from the agreement,” indicating that “this eagerness to pass the budget quickly without tugging.”
Karim pointed out that “there is no estimate for the mother to present the budget in a specific time because it is related to resolving all the obstacles that concern the region.” 

https://economy-news.net/content.php?id=24194