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Al-Kazemi talks about raising the dollar exchange rate and its relationship with the poor

3,408 Policy 2021/06/24 22:35
Baghdad today – Baghdad
Prime Minister Mustafa Al-Kazemi spoke about raising the dollar exchange rate and its relationship with the poor, noting that raising the exchange rate in return for placing 2.5 billion dollars to support the poor segment, the social protection network, and support for food commodities.
Al-Kazemi accused, during a televised interview with the official channel, some “who tried to change the numbers in the House of Representatives, noting that” after Iraq depended on oil by 96%, the (white paper) provided a percentage of 70% dependence on it, and reform in The administrative and legal sectors, and this required adjusting the exchange rate, and all governments have known this necessity since 2012.”
He added, “Many budget decisions have been changed in Parliament and the budget has been tampered with, and there are those who do not want the government to succeed, as we have submitted an appeal to the budget to the Federal Court, hoping, that the court will play its historic national role to correct mistakes.”
He promised, “The white paper has won international respect and from international financial institutions, and it will work to save Iraq within five years.”
He pointed out, “The age of this government is one year, not seventeen, and with this we faced all challenges in order to preserve the blood of the Iraqis, as Iraq was on the verge of a civil war or a war between two important powers in the region, and we came with this government in order to spare the blood of Iraqis.” And creating an opportunity for hope.”
And he continued, “A year of challenges and a year of attempts to obstruct any reform steps and question the government’s capabilities, was difficult, but Iraq and the Iraqis deserve sacrifice, as our ambition is greater than what we have done in trying security and economic reform, the government was decisive and took strong decisions, pointing to The search, for justice and the concept of the state because we want to build a state, and Iraq needs to rebuild the state.”
Al-Kazemi said, ” This government is not a government of words, and I am not an elected prime minister, but I am a servant of this people, as we have taken reform decisions because we want to reform our country, so I represent Iraq, and our country has gone through difficult circumstances and needs to bring it out to a normal situation, and this needs bold measures.” .
He stressed, ” The government performance report for a year was not written with government tools, but was prepared by neutral experts who have nothing to do with the government, and what the ministries accomplished were evaluated by qualified analysts as well as international experts, as the government report included success in some aspects of the government program, and some joints.” We’re still late.”
Al-Kazemi revealed, ” The current government is facing continuous campaigns of skepticism, but we do not care about them and are keen not to create despair among people, but rather create hope for a better future.”
He added, “We are not convinced of what democracy has produced after 2003, but we are able to correct many mistakes, and we still have an opportunity, and we are still looking for a light at the end of the tunnel, as the government came with major goals, which are holding elections and preparing all the conditions for its establishment and restoring the prestige of the state because it was broken.” It collapsed until this government came to restore confidence in our army and security forces.”
Al-Kazemi touched on the elections, and said, “The elections are a popular demand and the demand of the rational reference, popular forces and parties, and we have an election law and a federal court, and we have provided all support to the Electoral Commission.”
He pointed out, “The electricity situation in Iraq is not satisfactory and the problem is very complicated. Billions of dollars were wasted on electricity, and this government revealed many suspended projects for reasons related to poor planning and corruption, as we revived some projects, noting that last week we opened one of the largest projects in Iraq.” The electrical stations in Samarra, and within months, we will complete the second phase, bringing the total production of them to more than 1,200 megawatts.”
He continued, ” There is a suspended power station project in Al-Muthanna Governorate, we saved the money and overcame the obstacles, and the problem was addressed, as well as the case in Nasiriyah and other power stations that will open soon, as we started the electrical connection with the Gulf countries and completed 85% of the work in Iraq, and in 2022 the connection will be completed.” The entire electrical connection with the Gulf, as well as the electrical connection with Jordan.
Al-Kazemi indicated, “The government came and the situation of a large number of hospitals was collapsing, and at a time of great escalation of the Corona pandemic and a scarcity of beds and medicines, and we only had 7 devices for PCR examination. Today, we have approximately 250 devices throughout Iraq, and an increase in the family and in the oxygen storage, indicating “A number of hospitals that were suffering from cessation and extinction due to corruption and poor planning have been rehabilitated, as we have opened hospitals in Karbala, Nasiriyah and Najaf, and we have a plan to build 43 hospitals throughout Iraq, and we signed to buy devices to care for premature babies and add 13,000 artificial respirators after the number was in the hundreds. “.
He added, “The government came under difficult circumstances, security tension, regional and international tension, a collapse in oil prices and the absence of a budget for 2020, with all this we succeeded in providing security and fighting ISIS and implementing more than 30,000 arrest warrants against organized crime groups, uncontrolled weapons and drug groups.” And we are working to make Iraq a point of convergence and not a cause of imbalance, as the region has conflicts, and Iraq is required to play a role that supports the stability of the region and not terrorize its people, as was Saddam’s reckless policy.
And he stated, “I am not afraid for my future political situation, but I am keen on the reputation of Iraq, which has not witnessed a real economic reform process for more than fifty years.”

Finance Minister: The local market will recover soon

Obelisk - the event as it happened

2021/06/24 17:24

  • number of readings 328
  • Section : Iraq

Baghdad / Obelisk: On Thursday, June 24, 2021, Minister of Finance Ali Allawi expected the local market to recover soon, while confirming that an advanced system would automate the outlets.

The Media Department of the House of Representatives said in a statement, “The Finance Committee hosted, headed by Representative Haitham Al-Jubouri, the head of the committee, and the presence of its members, today, Thursday, Minister of Finance Ali Allawi and the Director General of Accounting in the ministry regarding the implementation of the Federal General Budget Law for 2021, and a follow-up to what was mentioned in a previous hosting of Committee of the Governor of the Central Bank.

She added, “At the beginning of the meeting, which was held at its headquarters, the committee discussed the issue of activating the inactive materials in the budget and the mechanism for implementing the law as approved by the House of Representatives. collection, imposing an airport fee, and automating border crossings and customs, and the committee has indicated that the automation issue has been suspended so far, despite the many requests and correspondences regarding this.”

And she added, “The Finance Committee stressed the necessity of activating petrodollar funds as stated in the budget text, despite the government’s submission of an appeal regarding this, and this matter does not prevent the text from being activated because of its benefit to the oil-producing governorates, in the meantime the committee sent a letter to the Ministry of Finance in which it explained the article. 2 – First – Eighth, regarding petrodollar funds,” indicating that “the committee discussed the Ministry of Finance’s procedures regarding the job number and the biometric system for employees, as it is an absolute necessity and as indicated by the committee in Article 12 of the budget law, as well as the steps taken by the ministry to confront the negative effects of raising Currency exchange rate for citizens.

And she added, “The Finance Committee touched on the issue of government banks and the Ministry’s steps to carry out actual reforms in this important sector by relying on efficient national experiences in this field, as the Committee included in the budget law paragraphs supporting industrial and agricultural banks,” noting that “the Committee called on the Ministry of Finance.” To address all ministries to fully abide by the budget law and implement its paragraphs, and called at the same time to expedite the launch of investment allocations for the governorates to start completing the lagging projects.

For his part, the Minister of Finance provided an explanation for the questions raised by the Finance Committee regarding the implementation of the budget, stressing that “the ministry has initiated procedures for automating ports through an advanced electronic system that will be implemented soon.”

The Minister of Finance explained that “the ministry is following up on the price hike in the markets that accompanied the exchange rate change,” revealing at the same time that “the local market will recover soon.”


A government source reveals the date of the “tripartite summit” in Baghdad

politicsIraqbreakingEgyptJordanTriple Summit 2021-06-24 13:04A-AA+

Shafaq News/ An Iraqi government source revealed, on Thursday, the date of the tripartite summit between the leaders of Iraq, Egypt and Jordan in the capital, Baghdad.

The summit was postponed twice as a result of security tensions in Jordan in April, and a train collision in Egypt on March 26.

The source told Shafaq News Agency, “Next week has been set as a date for holding the tripartite summit that brings together the heads, officials and leaders of the countries of Iraq, Jordan and Egypt.”

The source added that “the summit will be held in Baghdad under the chairmanship of Prime Minister Mustafa Al-Kazemi,” noting that “it will discuss economic and trade conditions and achieve balance between the three countries.”

The upcoming summit is the second of its kind; The first summit was held last August in the Jordanian capital, Amman.

The three countries formed a joint coordination council in light of the results of the first tripartite summit.

The three countries have concluded joint and bilateral economic agreements with each other mostly centered around energy, trade and investment.

Al-Tamimi reveals the details of what happened in the Past finance meeting with Minister Allawi

06.24.2021 – 19:09
Al-Tamimi reveals the details of what happened in the finance meeting with Minister Allawi

Baghdad – people  

On Thursday, a member of the Finance Committee, Magda Al-Tamimi, revealed the details of the hosting of Finance Minister Ali Allawi by the committee, while she announced the axes and questions that were raised during her.  

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Al-Tamimi’s media office said in a statement that “Nass” received a copy of it (June 24, 2021), that “Al-Tamimi raised several axes to the Minister of Finance, including: the instability of the dollar exchange rate and its recent rise, with the indication of the rise in commodity prices in general, which caused an increase The suffering of citizens, and a rise in the volume of random imports without relying on the import curriculum in order to import the goods that the country actually needs, as well as the percentage of completed reforms included in the white paper,” noting that “a statement was made of the actual position on the issue of customs and taxes automation, during the hosting “.  

He continued, “Al-Tamimi called for the necessity of easing the burden on citizens, controlling prices and directing initiatives towards bringing about real development in the country (the industrial and agricultural sectors).”  

The statement indicated that, “for his part, the Minister of Finance answered the axes raised, and stated that the rise in the prices of commodities and raw materials was caused by their impact on the rise in prices on the international stock exchange, especially for iron, corn and sugar, and to a change in the exchange rate, as their rise was at the same time, which affected the market significantly. However, global prices then started to decline due to the discovery of the vaccine for the Corona virus.  

And between the media office, “The Minister of Finance commended Al-Tamimi for the absence of the import curriculum to determine the necessary commodities that the market needs, and also pointed to the negative impact of the decisions to prevent the import of some paragraphs by the Ministry of Agriculture, such as poultry and eggs, which affected the rise in prices.”  

The Minister of Finance stated, according to the statement, that “35% of the reforms mentioned in the white paper are responsible for their implementation, and the ministry gives it great importance because it has an impact on all economic activities and other revenues, such as the issue of automation of customs and taxes,” noting (the minister) that “” Things are going in the right direction, as contracts have been signed to automate customs and some authorities have approached to automate taxes.”  

And the minister indicated during the meeting, according to the statement, that “with regard to the issue of disbursing an amount of 200 billion dinars to the Kurdistan region, the issue has actually been raised, but there are differences between the way we calculate the region’s dues and the method of calculating them, and the disbursement has not been done yet, indicating that the region has not delivered the prescribed share as in the 2021 budget.  

Al-Tamimi stressed, according to the statement, “the need to work hard to create a database of job cadres, to include the actual entitlements only in the budget for the employee salaries clause, while listing the actual staffing for each ministry and providing them to the Ministry of Finance, which is a simple matter that does not require all this time, procrastination and procrastination.”  

The statement added that “the Minister of Finance suggested that there was a misunderstanding by those who interpreted the paragraph on petrodollar funds, as it was interpreted differently from what the legislative authority wanted, as a result of which it was challenged. Therefore, the Minister was provided with a letter by the Finance Committee with the correct interpretation of the paragraph in preparation for its implementation in producing provinces.  

The Parliamentary Finance Committee, earlier, asked the Ministry of Finance about the article on the establishment of “petrodollar funds” in all governorates producing crude oil, refined oil or gas.  

The committee said, according to a document seen by “Nass” (June 24, 2021), that “it is expected to be allocated for the implementation of this article, according to preliminary estimates of oil revenues, approximately (3.5) trillion dinars, and an amount of (1) trillion dinars has been allocated. This means that the difference to be financed. For those funds, it becomes (2.5) trillion dinars, and if we divide this amount by the total barrels exported during the year, the amount will be approximately (1.5) dollars per barrel only.”    


Iraq breaks an agreement with a Chinese company: We are in a better position and making additional profits أرباح

Obelisk - the event as it happened

2021/06/23 17:48

  • number of readings 472
  • Section : Iraq

Baghdad / Obelisk: Iraq canceled a paid agreement with a major country, describing the measure as necessary to achieve the country’s interest and revive the budget.

And according to a statement published by the S&P GLOBAL PLATTS website, Wednesday, June 23, 2021, “Iraq has a paid oil supply agreement worth two billion dollars with the (Zhenhua Oil) company of the Chinese government, and sold the crude oil designated for the deal to other customers, as Baghdad seeks to benefit from the high Prices,” a senior Iraqi official told the site.

The site stated, “Earlier this year, the Iraqi State Oil Marketing Organization chose Zinhua Company to be the winning bidder for the agreement, which included an advance payment of $2 billion for one year and called for the provision of 4 million barrels of crude every month.”

And the website quoted the deputy director of the “SOMO” company, “This agreement is not applicable at this stage due to the high oil prices. We are in a better position and are achieving additional profits that exceed what the Iraqi budget needs.”

For his part, a Beijing-based source familiar with the matter confirmed that “Zinhua and Sumo ended the deal,” noting that “the previous contracts of Zinhua for Iraqi crude were not affected.”

In the same context, the site quoted an Iraqi official as saying, “We have a good and even perfect working relationship with our Chinese customers, including Xinhua. They understand our position.”

He added, “We have current business ideas in general to increase the presence of SOMO and the presence of Iraq’s crude in the Chinese market and Asia in general,” noting that “this may include storage capacities, commercial activities or facilitating commercial activities in the same market, and even from there in China we can sell our crude.” and engage in other products business.

(SOMO) is in discussions with companies in Asia, including China, to store Iraqi crude there.

Last May, Iraq was China’s third largest oil exporter, after Saudi Arabia and Russia, while India and China are described as Iraq’s largest oil markets.

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Finance Minister: The local market will recover soon

Baghdad/The Obelisk:

Finance Minister: The local market will recover soon, and an advanced system will automate the outlets


Parliament hosts the Minister of Finance regarding the budget and outlets

2021.06.24 – 12:33
Parliament hosts the Minister of Finance regarding the budget and outlets

Baghdad – people  

The Media Department of the House of Representatives announced, on Thursday, hosting the Minister of Finance and the Director General of the Accounting Department.  

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And the department stated in a brief statement that “Nass” received a copy of it (June 24, 2021), that “the Parliamentary Finance now hosts the Minister of Finance and the Director General of the Accounting Department regarding the implementation of the 2021 budget paragraphs and the automation of customs and border crossings.”

Includes deductions. The Kurdistan Regional Government pays the salaries of its employees for the month of June

local news
Thursday, June 24, 2021 | 12:44 PM| Number of readings: 112It..

The Ministry of Finance of the Kurdistan Regional Government announced, on Thursday, the start of disbursing the salaries of the region’s employees for the month of June, tomorrow, Friday .And the ministry said in a statement, that it “will start disbursing salaries tomorrow, Friday, to employees of the Kurdistan region, including the salaries of employees of the Ministry of Health .”She added, “The salaries for the month of June will be disbursed by the same mechanism that was disbursed for the month of May, where 21% of the salaries of employees will be deducted, and 50% of the salaries of employees of higher grades.”