The Iraqi Finance Minister pledges to facilitate the procedures of “petrodollar” funds

The Iraqi Finance Minister pledges to facilitate the procedures of "petrodollar" funds

side of the meeting June 25, 2021 02:44 PM

Mubasher: The Parliamentary Finance Committee in Iraq met with Finance Minister Ali Abdel Amir Allawi to discuss a number of issues, the most important of which are petrodollar funds.

Committee member Majid Al-Waeli told the Iraqi News Agency (INA), today, Friday, that the Ministry of Finance was interpreting the issue of petrodollar funds incorrectly, and this resulted in very high funds estimated at tens of trillions, according to the Iraq News Agency, “conscious.”

He added that the Finance Committee clarified the financial burden of the Petrodollar Fund within the accounts of the Committee, which is 3.5 trillion dinars, one trillion dinars is in the budget, and 2.5 trillion dinars remain allotted from oil imports, and within the accounts of the Committee that 1.5 dollars per barrel of oil is supposed To go to the petrodollars.

And Al-Waeli continued: “After this correction, the Minister of Finance expressed his willingness to reverse his decision to stop the implementation of this paragraph, and therefore it will be implemented in order for the oil-producing governorates that have oil activity to reflect on service projects and provide job opportunities and service to the citizen.” 

The committee also discussed the automation of border crossings and customs, and the minister made it clear that the file is in the process of being implemented and will provide revenues to the state.

Al-Waeli indicated that the committee discussed with the minister the appointments and their suspension, and the violations of the law in some ministries.

He explained that the ministry argues that it does not have control over the procedures, due to the lack of a clear database, and therefore it was indicated that there is an article in the budget stating that the Ministry of Finance, Planning and Communications is involved to launch government identifiers (biometric card) or a functional financial number to control the intersection of information and control the financing of government departments.

And he added: “Within our expectations, the largest funding is salaries, and it may be an increase in funding of up to 15 percent as a result of the lack of control from the ministry over this file, and therefore we expect funding to decrease and move towards real funding and the real numbers of employees by 15 percent, which is not a small amount.”


Jordan: The Baghdad Summit is a step towards unifying the efforts of the three countries

political| 12:05 – 27/06/2021


Baghdad – Mawazine News 

The Hashemite Kingdom of Jordan confirmed that the tripartite Baghdad summit, which will be held on Sunday, constitutes an important step towards unifying the efforts of the three countries.
A member of the Central and Political Committee and Director of the Jordanian National Party office in Amman, Amal Abu Bakr, said that “the tripartite summit in Baghdad, which will bring together (Iraq – Egypt – Jordan), constitutes an important step towards unifying the efforts of the three countries in many fields, especially in the economic and political affairs.”

She added, “The citizens of the three countries rely a lot on this summit, which comes at an important stage the Arab nation is going through, and they hope that it will establish an important stage for coordination and consultation to serve its goals.”

Abu Bakr expressed her hope that the tripartite summit would come out with a clear strategy towards achieving integration between the three countries, especially in the economic aspect, given its great importance in developing prospects for cooperation between them.

The capital, Baghdad, will host tomorrow, Sunday, the tripartite summit between Iraq, Jordan and Egypt, headed by Prime Minister Mustafa Al-Kazemi, to discuss several files. Ended 29/A87

Al-Kazemi’s advisor: The oil price surplus will end the fiscal deficit for the 2021 budgetموازنة

politicsAl-Kazemi’s advisorThe appearance of Muhammad Salihbudget 2021 2021-06-26 14:42A-AA+

Shafaq News/ The economic advisor to Prime Minister Mustafa Al-Kazemi considered, on Saturday, that the surplus of oil prices above the price specified in the budget law will end the fiscal deficit for the year 2021, while noting that Iraq exports 2.9 million barrels per day.

Counselor Mazhar Muhammad Salih told Shafak News Agency; “The price of one barrel of oil is set by the budget law at $45, and what is more than the specified price will compensate for the financial deficit in the budget law for the year 2021.”

He added, “The stability of oil prices is around $70 at the end of this year, so the Iraqi government will not go to borrowing and compensate for the financial deficit from high oil prices,” noting that “Iraq exports 2.9 million barrels daily.”

The government advisor indicated that “the oil surplus over the price specified in the budget law will reduce or end the fiscal deficit in the fiscal year 2021.”

America comments on the bombing of Erbil: It was carried out by a drone

Kurdistan womenErbilUSAbreakingBombing 2021-06-26 07:39A-AA+

Shafaq News/ On Saturday, the United States of America condemned the missile attack on Erbil Governorate.

In a statement received by Shafak News Agency, the US Consulate General in Erbil said that her country condemns the drone attack that took place today, Saturday, in the Kurdistan Region of Iraq. 

The statement added that this attack represented a clear violation of Iraqi sovereignty.

Eyewitnesses reported this morning that an unknown missile landed near a hotel in Erbil, the capital of the Kurdistan Region.

Witnesses told Shafaq News Agency: A missile landed near the (Khanzad) Hotel on the road to the Salah al-Din resort in the courtyard of a farm in the village of (Prague), and it did not result in any human losses, but only material damage.

According to witnesses, the missile struck at three in the morning on Saturday.

No official position was issued by the security authorities in the region, and the location of the missile launch was not known from where until the time of writing the news.

Zarif arrives in Parliament and meets Al-Halbousi

Editing date: : 4/26/2021 16:54 •  1030 times read

Zarif arrives in Parliament and meets Al-Halbousi

Parliament Speaker Muhammad al- Halbousi received on Monday Iranian Foreign Minister Muhammad Javad Zarif.
Today, Iranian Foreign Minister Mohammad Javad Zarif arrived in the capital, Baghdad, on an official visit, during which he met with Foreign Minister Fouad Hussein and President Barham Salih, and discussed with them developments in bilateral relations and the situation in the region.