On Friday, the international coalition forces delivered equipment worth more than a million and a half dollars to Ain Al-Assad base.
A statement of the coalition, of which “Nas” received a copy, (May 7, 2021) stated, “The Iraqi security forces have received ammunition estimated at 1,779,736 dollars from the coalition forces (Joint Task Force – Operation Inherent Resolve CJTFOIR).”
He added, “This equipment is to support Iraq in its mission to defeat ISIS, and it is part of the program of financing training and equipping to combat ISIS, which has been implemented since 2014 and is funded through the budget of the Ministry of Defense allocated to Operation Inherent Resolve.”
He continued, “The program, which I oversee the implementation of Operation Inherent Resolve, aims to support the Iraqi government in the battle against ISIS.”
Baghdad / Al-Masalla: The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, revealed, on Thursday, May 6, 2021, the economic challenges that the government faced, while indicating that it had succeeded in closing the deficit gap and facing recession within a year of its life.
Saleh told Al-Masalla, “The fiscal year 2020 was one of the most difficult years the country has gone through after the dual crisis (security and financial) in 2014, as the GDP decline was accompanied by a negative 10 to 11% due to the decline in oil import revenues by more than 40. % Of its traditional similar flows in 2019, as a result of the oil price war and the OPEC Plus agreement regarding reducing the shares of member countries to remove the oil glut that exceeded 10% of the global oil market needs, in addition to the closure of local economic facilities and disruption of production facilities due to the pandemic and the high unemployment to nearly 25% of the labor force is in a market economy. “
Saleh added that “public finances continued to face the double crisis (health and economic) by working in managing public expenditures and public revenues with high accuracy and effort without the presence of legislation legislation for the federal public budget 2020, and it is facing the challenge of the severity of financial and economic shocks (external and internal) and their severe effects on the sustainability Fiscal policy throughout those lean months. “
He continued, “The financial management has continued to work according to the contexts provided by the enforceable financial management law, while it is facing a deficit in the monthly revenues that are not sufficient to cover the financing of actual current expenditures at a rate of 1/12 of the general budget for the year 2019, based on the rules of operation of the Financial Management Law in force,” pointing out to “The available cash assets from monthly revenues did not increase at that time (2019) from 4 trillion dinars per month and perhaps less, while current expenditures payable remained in excess of 7 trillion dinars, whether from salaries, pensions and social welfare, or the payment of farmers, contractors and services. Debt and energy purchases of all kinds, and obligatory repayment.
Regarding facing these challenges, Saleh asserted that “public finances had no choice in closing the deficit of expenditures payable except by resorting to internal borrowing priorities that supported the government banking system in general and the Central Bank of Iraq in particular in implementing the two borrowing laws that were legislated in the House of Representatives.” As an alternative to the General Budget Law 2020. “
Saleh stated that “the Iraqi banking system provided liquid financial resources that contributed to bridging the financial deficit gap and facing the severe economic downturn represented by (deteriorating economic growth, high unemployment and a decline in the general level of prices) with liquid resources amounting to about 27 trillion dinars in the year 2020, which is in the form of internal debts financed by the agency The government banker is exclusively the case (which is equivalent to debts from government financial institutions to the government itself. “
The government advisor considered that “the Ministry of Finance succeeded in bypassing the financial stress tests that the country was exposed to with all its economic variables in 2020 despite the gravity and risks of the local and global economic situation together.”
Shafaq News / US President Joe Biden signed, on Thursday, a decree extending the “national state of emergency” related to the situations in Iraq, Syria and African countries for another year.
The decree stated, “I am extending for one additional year the statute of the declared state of emergency in response to the Syrian government’s actions.”
In addition, Biden signed similar orders to extend the state of emergency regime in some Central African Republics and Iraq.
It is noteworthy that the extension of the state of emergency regime will allow the United States to continue to freeze the property and assets of a number of people associated with the Syrian government, as well as prohibiting the export of some goods.
During its war on Iraq, America declared, under an executive order, a state of emergency in Iraq, to deal with its unusual threat to national security and foreign policy, leading to the development of political, administrative and economic institutions in Iraq.
Biden said in the decree , “There are still obstacles to the reconstruction of Iraq and the restoration and maintenance of peace and security in the country.”
He added that the development of political, administrative and economic institutions in Iraq constitute an extraordinary threat to the national security and foreign policy of the United States.
Shafaq News / Al-Rafidain Bank announced, on Friday, an increase in the fixed deposit interest rate for citizens who deposit their money in the bank.
The bank’s media office said in a statement that it had been decided to increase the interest rate on deposits for a period of six months to 4.5 percent, as well as to increase the interest rate on fixed deposits for a year to 5.5 percent.
The statement added that the interest rate on deposits for two years had been increased to 6.5 percent.