Mazhar Saleh warns of the risks of increasing the quantities of local currency in the market

Economie| 09:24 – 22/05/2021


Baghdad – Mawazine News

The Prime Minister’s Adviser for Financial Affairs, Mazhar Muhammad Salih, outlined today, Saturday, the tasks of banks in investing the funds deposited with them, while warning of the dangers of raising the cash issue at the expense of financing and increasing the quantities of Iraqi currency in the market.
Saleh said, “The quantitative theory in economics confirms the existence of a direct relationship between the quantity of money and prices, and thus the more money the price increases, so the income is assumed to be stable,” warning of “the risks of raising the cash issue at the expense of financing, because it will lead to inflation.” .
He added, “The cash quantity must be proportional to income,” noting that “there is a stagnation in the monetary cycle.”
With regard to the functions of the banks, he explained, “The banks’ job is to transfer money from surplus units represented by the entities and people who have money but lack the willingness to invest it and resort to depositing their money with them, to the deficit units represented by people who are willing to invest and rebuild but do not have sufficient funds, and want to borrow because of their desire in Building and Reconstruction. ”
He stressed, “Banks are responsible for the process of recycling the flowing liquidity resulting from production, to prevent disrupting investment by not spending money on investments,” stressing “the need to properly rotate funds and ensure the availability of consumer and investment spending to prevent a financial recession.”
He pointed out that “the income cycle requires that money that is not consumed go to savings, and then the saved money is transferred to consumption so that the cycle is completed in its correct form,” indicating that “
He stated, “The basis of funds is economic activity, while funds that come without economic activity are considered inflationary money, such as printing currency and so on,” noting that “saved funds that are not spent on investments will lead to disruption of investment.” Ended 29 / A 87


The Iraqi Parliament will resume its sessions next Saturday

PoliticsThe Iraqi Parliament 2021-05-22 14:31A-AA +

Shafaq News / Next Saturday, the Iraqi parliament will resume its sessions, according to what was announced by the council’s media department.

According to a statement issued by the department received by Shafaq News, the council’s agenda includes “discussing the repeated Zionist attacks on the Palestinian people, in addition to voting on a draft law ratifying the air transport agreement between the government of the Republic of Iraq and the government of the Kingdom of Saudi Arabia.”

The table also includes “voting on the draft law ratifying the agreement to avoid double taxation and prevent financial evasion with regard to taxes on income and capital between the government of the Republic of Iraq and the government of the State of Kuwait.” 

According to the department’s statement, the parliament “will vote on the draft law of the first amendment of the Iraqi National Oil Company Law No. (4) of 2018, the report and discussion of the second reading) the draft law of social security and retirement for workers, and the first reading of the draft law on statistics and geographic information systems.

Barzani responds to the “bidders”: Soon, we will start implementing the 100-metric project in Sulaymaniyah

Kurdistan RegionSulaymaniyahMasrour Barzani 2021-05-22 11:43A-AA +

Shafaq News / The Prime Minister of Kurdistan Regional Government, Masrour Barzani, responded today, Tuesday, to those he called “bidders” in talking about the implementation of service projects in Sulaymaniyah governorate, telling the people of that region to implement the 100-meter street project soon.

A statement by the regional government chief reported to Shafaq News stated that “lately, some and the parties, in an unprofessional and without accurate information, and within the context of the auction, talked about the topic of the 100-meter street project,” indicating that “the goal behind these attempts was distortion.

He added that he announces to “the citizens, especially the people of the city of sacrifice and redemption (Sulaymaniyah) that the Kurdistan Regional Government, taking into account the financial conditions of the region, has approved only the projects that have been completed more than 75% of them in the provinces,” indicating that “the regional government has not yet started Implementation of projects whose completion percentage is less than the mentioned percentage.

He added that “a higher committee and an expert in the regional government is busy reviewing and preparing to start some strategic projects, including the 100-meter street project in Sulaymaniyah.”

The statement indicated that “the demands of the citizens of Kurdistan have always been reform and transparency. Therefore, there is a review and evaluation of all projects in any region in the Kurdistan Region in order not to waste the resources of the Kurdistan Region for the benefit of any person, and the regional government delivers services to all regions of the region without any discrimination.” .

He added, “Citizens in Sulaymaniyah deserve the best services, and the government decided during the past months to implement a number of services within the borders of Sulaymaniyah, Karmian, Halabja and Rapprin administration,” indicating that it will soon start implementing the 100-meter street project in a manner in which the wealth of Sulaymaniyah citizens is used to serve them effectively and appropriately.

He pointed out that “if any amount remains in the project review process in Sulaymaniyah, it will be disbursed within the borders of the same region for other projects.”

Parliament holds its regular session next Tuesday

Political| 01:38 – 5/22/2021


BAGHDAD – Mawazine News
Parliament will hold its regular session next Tuesday to discuss a number of draft laws listed on its agenda.
“The House of Representatives will hold its regular session next Tuesday, but so far we have not received the meeting’s agenda,” said the MP for the Patriotic Union of Kurdistan, Almas Fadel.
She added, “The House of Representatives has important bills to legislate during the coming period, including the amendment of the provincial councils law, the Federation Council, the oil and gas bill and the criminal court.
” Almas continued, “These laws are very necessary and the House of Representatives must vote on them quickly, and we hope that the House of Representatives will take place in the period.” Coming to enact these laws. ” Ended 29 / A43

Messenger: The joint centers with the Peshmerga forces will be under the supervision of Al-Kazemi

SecurityIraqi armyThe PeshmergaAl-KazemiConflict areasCoordination centers 2021-05-22 06:36A-AA +

Shafaq News / The spokesman for the armed forces, Major General Yahya Rasoul, announced on Saturday that the joint coordination centers between the federal forces and the Peshmerga forces will be supervised by Prime Minister Mustafa Al-Kazemi.

Major General Rasool, special forces, said in a press conference held today, that what remains of ISIS in Iraq are sleeper cells, and they operate in detachments consisting of 5-6 elements that are hidden from view, the first to enter deep into deserts and rugged areas in the mountains.

The military spokesman outlined the operations against ISIS since the first of May, and until the 21st of the same month, by seizing 202 bombs, with 963 weapons seized, and more than 20 ISIS militants were killed, indicating the continuation of operations in all military sectors.

Regarding the joint coordination centers between the Iraqi army and the regional guards (Peshmerga), Major General Rasoul said: These centers will be under the supervision and command of the army with the participation of officers representing all sorts of Iraqi forces, stressing that these centers operate under the command of the Commander-in-Chief of the Armed Forces.

He added that the work of these centers will be only to coordinate all units, as well as coordinate operations against ISIS terrorist gangs, and gather intelligence information.

A Kurdish bloc reveals a preliminary agreement that expedites the settlement of the Iraqi oil and gas law

PoliticsIraqThe Iraqi ParliamentDisable lawsKurdistan Democratic Bloc 2021-05-22 06:33A-AA +

Shafaq News / The parliamentary bloc of the Kurdistan Democratic Party revealed, on Saturday, a preliminary agreement by the political forces to settle the oil and gas law in Parliament, before the end of its session.

The representative of the bloc, Diyar Barwari, told Shafaq News, “The oil and gas law is one of the important laws in the House of Representatives, and there was a serious intention to head the parliament to vote on the law in previous sessions, but the postponement came as a result of Parliament’s preoccupation with the general budget law.”

Berwari added, “The political blocs, including the Kurdish one, submitted their observations on some articles of the law to the Parliamentary Oil and Energy Committee,” noting that “there is confirmation of the remarks that they do not violate the Constitution.

Berwari noted, “There is an initial agreement by the political forces to resolve the oil and gas law before the end of the parliamentary session, with a real desire to vote on the law during the upcoming sessions of the House of Representatives.”

The ministries of oil and energy in the governments of Erbil and Baghdad are keen on the need to expedite the passage of the oil and gas law because of its importance in organizing the management of oil and gas wealth in Iraq.