Parliamentary Finance: High oil prices will eliminate the need for loans

04/29/2021 20:21

  • The number of readings 83
  • Section : Iraq

Baghdad / Al-Masalla: The Parliamentary Finance Committee clarified, on Thursday, April 29, 2021, that high oil prices will cover the operating budget deficit without going to external or internal loans.

Committee member Abdul Hadi Al-Saadawi said in a press statement that “in the event that oil exports increase and oil revenues are achieved as a result of high oil prices at current prices that approached seventy dollars or exceeded seventy with the passage of time, this will eliminate the need for internal or external loans in the budget.” He pointed out that “the high spending of the operational budget and the increase in appointments during the previous years had a negative impact on the budget.”

And that “any increase in oil prices will go to cover the budget and the deficit only, and there is no supplementary budget or adding functional grades.”

Oil prices continued their gains, Thursday, after a 1% rise in the previous session, as positive expectations about a recovery in demand this summer overshadowed concerns about the impact of the increase in the number of epidemics in India, Japan and Brazil.

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Strong demand pushes oil to a 6-week peak

EconomyOilPrices 2021-04-29 20:11A-AA +

Shafaq News / Oil prices rose to their highest levels in 6 weeks, on Thursday, thanks to strong data for the US economy, a decline in the dollar and an expected recovery in demand, which nullified the effect of concerns about the growing Covid-19 infections in Brazil and India.

Brent futures rose $ 1.29, equivalent to 1.9%, to determine the settlement price at $ 68.56 a barrel, while US West Texas Intermediate crude increased $ 1.15, or 1.8%, to close at $ 65.01 a barrel.

Thus, the benchmark continues its gains for the third day in a row, registering the highest close since March 15th.

Bjornar Tonhaugen, Director of Oil Markets at Rystad Energy, said: “The summer season is the season for trips, and vehicle drivers in the United States, China and the United Kingdom are consuming more fuel, a development that the market believes will compensate for the Indian slowdown due to Covid-19.”

He added that oil prices received additional support from the drop in the dollar, which made “oil cheaper to buy internationally.”

The US currency hovered near its lowest level in nine weeks, under the weight of expectations for continued monetary easing from the Federal Reserve, and bold spending plans from US President Joe Biden.

The Kurdish delegation postpones its visit to Baghdad until next week

18:37 – 29/04/20210

The information / Erbil …

A member of the Kurdistan Regional Parliament, Bahjat Ali, revealed, on Sunday, that the Kurdish delegation that was scheduled to visit the capital, Baghdad, postponed its visit to next week.

“The postponement of the visit came at the request of the federal government, and the regional government is ready at any time to discuss the implementation of the budget agreement, which entered into force,” Ali told / Al-Maouma.

He added that “a delegation consisting of a group of ministers will visit Baghdad next week, to meet with the ministers of finance, oil and planning in the federal government and an understanding on how to deliver oil from the region to Baghdad, and also send the funds allocated to Kurdistan by the federal government.”

An informed source confirmed that there are differences between the oil companies and the regional government that prevent the delivery of oil by Kurdistan and put it in the accounts of SOMO. Ended 25 p

الوفد الكردي يؤجل زيارته لبغداد إلى الأسبوع المقبل

The Foreign Minister reveals the date of the tripartite summit and confirms: Al-Kazemi’s visit to Washington is not specified

Political| 05:35 – 04/29/2021


BAGHDAD – Mawazine News 
, Foreign Minister Fouad Hussein confirmed, on Thursday, that the tripartite summit will be held in Baghdad after the blessed Eid al-Fitr, while indicating that there is no specific visit by Prime Minister Mustafa Al-Kazemi to the American capital, Washington. 
Hussein said, “The tripartite summit scheduled to be held in Baghdad is still on the agenda, and it was postponed due to the circumstances in Egypt following the train accident and also because of the political events in Jordan,” stressing that “work began after Eid Al-Fitr for the purpose of holding the tripartite summit in Baghdad.” 
He pointed out that “the Iraqi cabinet’s decision to support the Lebanese army came in light of a message from the Minister of Defense and the Lebanese Army Chief of Staff to the Iraqi Minister of Defense, stressing that the cabinet approved what was proposed by the Iraqi Minister of Defense and that the support would be simple and symbolic.”
On the other hand, the Foreign Minister made it clear that he does not believe the existence of a specific visit by Prime Minister Mustafa Al-Kazemi to the United States of America. Ended 29 / h

A member of the Kurdistan Parliament reveals the reason for the delay in implementing the budget agreement between Baghdad and Erbil

116 Policy 2021/04/29 15:29 am
Baghdad today – Kurdistan
Jihad Hassan, a member of the Natural Resources Committee in the Kurdistan Regional Parliament, revealed today, Thursday (April 29, 2021) the reason for delaying the implementation of the budget agreement between the governments of Baghdad and Erbil, while denying the existence of a dispute between the regional government and oil companies operating in Kurdistan over the issue of oil delivery to Baghdad.
Hassan said in an interview with (Baghdad Today), “The issue of delaying the implementation of the budget agreement between Baghdad and Erbil has nothing to do with oil companies and their opposition to oil delivery at all.”
He added, “The issue is limited to the existence of some technical problems that will be resolved by the visit of the Kurdistan Regional Government delegation, which includes a group of ministers and will visit Baghdad in the coming days, to implement the budget agreement between the federal government and the Kurdistan Regional Government.”
And local media have reported that there are differences between the regional government and the oil companies operating in Kurdistan regarding the delivery of the region’s oil to Baghdad.

The World Gold Council offers a complete failure to Iraq if it wishes to increase its share of the precious metal

EconomyIraqgold 2021-04-29 07:14A-AA +

Shafaq News / The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, held a meeting on Thursday with the World Gold Council (upon their request). 

The media office of the bank said in a statement received by Shafaq News that the meeting dealt with a number of issues, the most prominent of which were technical support and training files, in addition to discussing the increase in the foreign reserves of the Central Bank, which was achieved after the implementation of recent reforms in the work of this bank and the banking sector. 

The statement noted that the World Gold Council had provided full support to the Central Bank in case it wished to increase the gold quota for Iraq.  

It is noteworthy that the Central Bank of Iraq ranks fifth in the Arab world and 38 globally in terms of the size of gold reserves.

After a meeting with Saleh, the Kurdistan Democrat: We sent a delegation to Baghdad, and we approached “Sairoun” for the coalition


PoliticsBarham SalehbreakingKurdistan DemocratThe electionAlliances 2021-04-29 07:11A-AA +

Shafaq News / The President of the Republic, Barham Salih met on Thursday with the political bureau of the Kurdistan Democratic Party in Salah al-Din resort.

After the meeting, party spokesman Mahmoud Muhammad held a press conference attended by the correspondent of Shafaq News: Currently there is a delegation from our party in Baghdad to discuss the issue of the upcoming elections, political alliances with other Iraqi parties, as well as returning to the regions of Kirkuk, Nineveh, Sinjar and Makhmour, adding that “but until now Things are not settled. “

Regarding the alliances to contest the early Iraqi parliamentary elections, Muhammad said: We spoke with “Sairoun”, but until now there is no formal agreement.

The “Sairoun” coalition is supported by the leader of the Sadrist movement, Muqtada al-Sadr, which seeks to achieve the loudest votes in the upcoming legislative elections scheduled for next October, and to obtain the position of Prime Minister.

Regarding the return of the Peshmerga to Kirkuk, the Kurdistan Democratic spokesperson said: We will demand the activation of the constitutional Article 140, and through it the establishment of a mechanism for the return of the Peshmerga to these areas, indicating that their return will certainly have importance in coordinating with the Iraqi security forces to fill the security vacuum and prevent terrorist attacks.

Masoud Barzani’s office announces the details of the last meeting with Barham Salih

PoliticsMassoud BarzaniBarham Saleh 2021-04-29 05:39A-AA +

Shafaq News / The headquarters of the Kurdish leader, Masoud Barzani announced on Thursday that the latter had received the President of the Republic, Barham Salih, at the Saladin resort.

A statement issued by the headquarters received by Shafaq News stated that during the meeting they discussed the latest developments and political changes in Iraq, and the two sides exchanged views on the Iraqi political process, the upcoming elections, and the challenges facing the political process.

The statement pointed out that during the meeting, the light was shed on the relations between Erbil and Baghdad, and the differences and pending issues between the two sides were addressed, and coordination between them represented a stabilizing factor that includes all parts of Iraq.

The political situation in the region, and the relations between the authorities in the region, was another focus of the meeting, according to the statement.

Kurdistan Region leaders meet with Barham Salih in Permam

PoliticsBarham SalehLeadersKurdistan Region 2021-04-29 05:36A-AA +

Shafaq News / The Kurdish leader, President of the Kurdistan Democratic Party, Masoud Barzani, met today, Thursday morning, in the “Pirmam” region with the President of the Republic, Barham Salih.

According to the information obtained by Shafaq News Agency, both the President of the Kurdistan Region, Nechirvan Barzani, and the Prime Minister of the Kurdistan Regional Government, Masrour Barzani, will meet with Saleh in Permam also, each separately after the end of the Kurdish leader’s meeting.

On Wednesday, Iraqi President Barham Salih arrived in Erbil, the capital of the Kurdistan Region.

According to information, Saleh will meet with the region’s president and senior officials to discuss the internal situation in Kurdistan in particular and Iraq in general, in addition to discussing the ongoing preparations for the legislative elections in October of this year.

The information indicates that Saleh will discuss unifying the discourse of the Kurdish political forces in addition to discussing the attack that targeted Erbil International Airport recently, as well as the latest developments in the region.

Salih’s visit to Erbil comes at a time when Iranian Foreign Minister Muhammad Javad Zarif visited Erbil from the capital Baghdad and met with the Kurdish leader, Masoud Barzani, the President of the Kurdistan Region, Nechirvan Barzani, and Prime Minister Masrour Barzani.