{Political: Al-Furat News} A member of the parliamentary legal committee revealed that the financial budget schedules for 2024 are near to the House of Representatives.
“Information on the arrival of the 2024 budget schedules to parliament next week,” Arif Al-Hammi told Euphrat News. He pointed out that “the information indicated that the Ministry of Finance has completed the preparation of the schedules and will be sent to the Parliamentary Finance Committee and the House of Representatives during the next week.” On March 13, the Ministry of Finance announced the completion of the data related to the 2024 budget schedules and the inclusion of the texts and their sending them to the Council of Ministers.
{Political: Euphrates News} The White House announced the date of Prime Minister Mohammed Shiaa Al-Sudani’s visit to Washington and the meeting of US President Joe Biden.
White House Press Secretary Karen Jean-Pierre on the visit to Sudan said in a statement that {Euphrates News} received a copy of it, “On April 15, President Joe Biden will welcome Iraqi Prime Minister Mohamed Shiaaa al-Sudani to the White House to coordinate on common priorities and promote a strong bilateral partnership between the United States and Iraq. The leaders will reaffirm their commitment to the Strategic Framework Agreement and will deepen their shared vision of a secure, sovereign and prosperous Iraq that is fully integrated for the wider region.”
“President Biden and the Sudanese Prime Minister will consult on a range of issues during the visit, including our shared commitment to the permanent defeat of ISIS and the evolution of the military mission nearly a decade after the successful global coalition was formed to defeat ISIS,” he added.
Biden and Sudani will discuss “also ongoing Iraqi financial reforms to promote economic development and progress towards Iraq’s energy independence and modernization,” Biden and Sudani will discuss, according to the statement.
The Prime Minister’s Advisor for Finance, Mozhmeh Mohammed Saleh, on Friday summarized the benefits of Iraq joining the membership of the European Bank for Reconstruction and Development.
Saleh said, to the official agency of his follower / Mawazine News, that “There is a positive syndrome between building the development strategy embodied today by the government’s philosophy of launching the development initiative with comprehensive sectoral economic links, which is called the project (development road), which is the corridor and strategic project that connects the European Union countries in Asia through Iraq and the Gulf maritime corridors and vice versa on the one hand, and the requirements for implementing the various stages of the development road through the role occupied by Iraq’s membership in the European Bank for Reconstruction and Development on the other hand, especially in the preferences of obtaining European technology and ensuring the role of EU countries companies in implementing the development path with its joints, whether in infrastructure and projects industrial productivity and various logistics services.” He added that “the membership provides our country with the likelihood of obtaining easy financing, technical assistance and its requirements Europe in supporting development activity in our country in its various joints and sectors,” continuing that “Iraq’s accession to the membership of the European Bank for Reconstruction and Development represents a broad view that carries strategic dimensions in the cohesion of the climate of economic development in Iraq and in accordance with the requirements of the government program and the national development plan 2024-2028, while embodying the needs of our country for the sustainability of international cooperation in reconstruction, development and sustainable development in the long term.”
{Economic: Al-Furat News} The Minister of Oil, Hayan Abdul Ghani, revealed that the federal government is considering a proposed amendment to the country’s budget that allows it to pay the salaries of international oil companies operating in the Kurdistan region.
This budget adjustment could allow producers in the region to resume production, and eventually export through the Turkish port of Ceyhan.
Turkey shut down the pipeline transporting crude oil from Kurdistan in March 2023, losing billions of dollars in revenue to governments and related companies.
The main obstacle to the resumption of Kurdistan inflows is the high cost of oil production in the region, and the Prime Minister, Mohammed Shiaa of Sudan, last December, estimated this cost at $21 per barrel in Kurdistan, compared to only $8 in other areas of Iraq. “We seek to quickly solve the problem of high cost, and resume exports as soon as possible,” Abdul Ghani said in response to Bloomberg’s inquiries, adding that the Ministry of Oil hopes to review and amend the contracts signed between the KRG and international companies.
Turkey shut down the pipeline after an international arbitration court in Paris ordered it to pay $1.5 billion in damages to Iraq for transporting oil through the pipeline without Baghdad’s approval.
Ankara, which claimed the pipeline was closed for maintenance only, said last October that the line was ready for operation, and it was up to Iraq to resume flows. Turkish President Recep Tayyip Erdogan is scheduled to visit Baghdad next month, which could help address other thorny files, including the compensation ordered by the court.
Abdul Ghani concluded that Iraq is keen to resume exports through the Turkish port of Ceyhan, and maintain strong economic relations with Ankara.
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