Iraqi News Monday AM 4-26-21
TLM724 Administrator BondLady’s Corner
Issue (4526) Of The Iraqi Newspaper Al-Waqi’a Issued On 19/4/2021
2021-04-26 10:00:00 1- Law No. (10) of 2021 the third amendment to the Law of the Accountants and Auditors Association.
2- Law No. (11) for the year 2021, the first amendment to the Law of the Fund for Supporting Internal Sections in the Ministry of Higher Education and Scientific Research.
3- Law on retirement rights for deceased employees of the Ministry of Health who have medical, health and administrative professions as a result of the response to Corona virus No. (12) for the year 2021.
4- Republican Decree No. (13) for the year 2021 appointing judges in the fourth category of judges.
5- Instructions to facilitate the implementation of the provisions of the Law to perpetuate the sacrifices of the martyrs of the war against ISIS terrorist gangs, to expedite the completion of their transactions, and to take care of the wounded No. (1) for the year 2021.
6- The internal system of the committee to supervise the implementation of the provisions of the law to perpetuate the sacrifices of the martyrs of the war against ISIS terrorist gangs, accelerate the completion of their transactions, and take care of the wounded No. (2) for the year 2021.
7- Statement issued by the Ministry of Finance No. (3) for the year 2021.
8- A statement issued by the Ministry of Justice No. (6) for the year 2021.
Those wishing to acquire the Iraqi factsheet can refer to the Iraqi investigation department, located in Salhiya / Haifa Street (Ministry of Justice building), and obtain the required number. https://www.moj.gov.iq/view.5578/
The Iraqi Stock Exchange Today .. One Billion Shares Were Traded At About 800 Million Dinars
Economy Monday 26th Apr, 2021 | 02:27 PM| Views: 228 The Iraq Stock Exchange announced, on Monday, that more than one billion shares have been traded, with a financial value of more than 795 million dinars .
The market stated in a report, that “the number of companies whose shares are traded during the day reached 33 companies out of 103 companies listed in the market,” indicating that “the number of companies suspended by the decision of the Securities Commission for not adhering to financial disclosure instructions reached 19 companies .”
He added that “the number of traded shares amounted to one billion and 160 thousand shares, with a financial value of 795 million and 808 thousand dinars,” noting that “the ISX60 traded price index closed at 593.16 points, a decrease of 0.62% from its closing in the previous session .”
The report indicated, “Shares purchased from non-Iraqi investors amounted to 10 million shares with a financial value of 31 million dinars through the implementation of 9 deals on shares of two companies, while shares sold by non-Iraqis in the market reached 10 million shares, with a financial value of 31 million dinars from During the execution of 9 deals on shares of 4 companies .
He continued that “the most profitable companies were Iraqi for the production of dates, with a change of 3.77%, followed by the Mineral and Bicycles Company, with a change of 1.72%, while the most losing companies were Baghdad, Iraq for public transport, with a change of -4.99%, followed by eligibility for agricultural production, with a change rate of -4.76. % “.
It is noteworthy that the Iraq Stock Exchange organizes five trading sessions a week from Sunday to Thursday, and 103 Iraqi joint stock companies are listed in it, representing the sectors of banking, communications, industry, agriculture, insurance, financial investment, tourism and hotels.
Today … Learn About The Exchange Rates Of The Dollar In The Local Market
Economie| 10:28 – 26/04/2021 BAGHDAD – Mawazine News The exchange rates of the dollar recorded, on Monday, a slight increase in the main stock exchange and local markets in the capital, Baghdad.
And the Central Kifah Stock Exchange in the capital, Baghdad, witnessed the registration of 148,000 thousand dinars, for each $ 100 note.
The prices of buying and selling dollars rose in exchange offices and local markets in Baghdad, where the selling price reached 148,500 dinars for each $ 100 bill, while the purchase prices reached 147,500 dinars, for each $ 100 bill. On Sunday, the Central Kifah Stock Exchange in Baghdad recorded 147,750 dinars, for each $ 100 bill. Ended 29 / p4 https://www.mawazin.net/Details.aspx?jimare=151081
Expectations Of Higher Per Capita GDP
Monday 26th April 2021 102 Baghdad: Haider Al-Rubaie The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, expected an increase in the per capita share of GDP for the current year 2021, to reach approximately 6 million dinars annually, indicating that this increase is linked to the continued gradual improvement in oil markets and openness in the global economy.
Saleh’s expectations came after the Ministry of Planning announced a decline in the per capita gross domestic product during the past year 2020, compared to what it was in 2019, indicating that the average per capita GDP for the year 2019 amounted to (7) million and (100) thousand dinars. However, in the year 2020 it decreased to (4) million And (900) thousand dinars.
A statement by the Ministry of Planning, received by Al-Sabah, stated that “the gross domestic product for the year 2020 amounted to (198) trillion and (700) billion dinars, which is less than what it reached in the year 2019, when it reached (277) trillion and (800) billion dinars.” .
Loss of oil revenues
During his speech to Al-Sabah, Saleh attributed the causes and problems of the decline in the gross domestic product in Iraq, about its capacity by the international financial community (minus 11 percent) in 2020 to two main factors. Oil production and production retreated as a result of adhering to the decision (OPEC +) at the time, indicating that “Iraq lost as a result of that commitment the production of more than one million barrels of oil per day.”
The financial advisor to the prime minister noted that «oil constitutes a direct contribution to the gross domestic product of approximately 50 percent, in addition to being a return to the budget by 93 percent, indicating that the indirect effects of the oil sector extend to the overall economy by about 80 percent of market activity. , Through the role of government spending in moving the overall demand and employment of production factors ».
Isolation of sectors of the economy
Saleh puts the factors of non-oil production stumbling due to the Corona epidemic, the shutdown of the economy, and the isolation of the national economy sectors and their workers for several months of the year, at the forefront of the second reason that led to the decline in the gross domestic product, indicating that “these things contributed directly to raising the poverty rate To reach about 32 percent of the Iraqi population, and unemployment rates reached more than 24 percent, which exacerbated the decline in the annual per capita share of the national income or gross domestic product last year.
11 million affected
And the government advisor stated, “The past year 2020 witnessed an increase in the number of families affected by earning and daily work, as a result of the interruption of their work, reaching about 11 million citizens.”
Therefore, the decrease in the gross domestic product from 277 trillion dinars in 2019 to about 198 trillion in the year 2020 It should be reflected in the average per capita income from the gross domestic product, after adding nearly a million new people to the population from births in 2020. ”
Double public spending
He indicated, “According to these data, the fiscal policy within the scope of the state’s general budget for the current year 2021 has gone towards seeking to double public spending, with the aim of improving economic activity and generating job opportunities within the economy, pointing out that this trend has brought about improvement in some macroeconomic indicators. Especially after the Ministry of Planning recently disclosed that there is a 50 percent decrease in unemployment and poverty rates compared to the same indicators last year 2020 ».
Saleh believes, “With the government’s endeavor to strengthen social welfare programs and absorb poor families, which are below the poverty line, and the state’s economic policy insistence on improving the ration card program and making it target the most vulnerable social forces, I expect that the per capita share of GDP for the current year 2021 will rise to 2021.
Between 5.5 and 6 million dinars per year, especially if the oil markets continue to gradually improve, open up the global economy more broadly, and the degree of receiving the vaccine against the Corona epidemic increases. LINK
Iraqi Planning: High Monthly And Annual Inflation Index For The Month Of March
Economy Monday 26th Apr, 2021 | 11:01 AM| Views: 63 Today, Monday, the Ministry of Planning announced an increase in the inflation index for the month of March by 0.7%, and the annual rate by 4.0 %.
Ministry spokesman Abdul Zahra Al-Hindawi said: “The monthly inflation index for last March rose by 0.7% compared to the previous month,” indicating that “the annual inflation index also rose by 4.3% compared to the same month in 2020. “
He added that “the increase in the dollar exchange rate since mid-December of 2020 has caused the devaluation of the local currency and the rise in the prices of goods and services, as most of these local goods are imported .” He pointed out that “the rate of inflation has increased by about 5.6% since November 2020 until March 2021. “
The Central Bureau of Statistics announced earlier last month that the monthly inflation rate for February increased by 0.7% and the annual rate increased by 4%.
Governor Of The Central Bank And The US Ambassador Discuss Ways Of Joint Cooperation
Monday 26, April 2021 13:21 | Economical Views: 221 Baghdad / NINA / The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, discussed with the US ambassador to Iraq, Matthew Toller, ways of joint cooperation in the monetary and economic fields.
The two sides stressed, during the meeting, “the importance of technical support and joint cooperation for the advancement of the Iraqi banking sector.”
For his part, the ambassador praised the reform plan adopted by the administration of the Central Bank of Iraq towards the banking sector, expressing his country’s readiness to provide various types of support and assistance to the Central Bank and the banking sector in Iraq. / End 8
HE GOVERNOR OF THE BANK AND THE US AMBASSADOR DISCUSS COOPERATION IN THE MONETARY AND ECONOMIC FIELDS
Monday, April 26, 2021 1:55 PM Baghdad / National News Center Central Bank Governor Mustafa Ghaleb Makhif and US Ambassador to Iraq Matthew Toller discussed today, Monday, cooperation in the monetary and economic fields.
The Central Bank’s media office said in a statement received by the National News Center, “The Governor of the Central Bank of Iraq, Mustafa Ghaleb, is terrifying, received the American ambassador to Iraq, Matthew Toller,” indicating that “ways of joint cooperation between the two countries in the monetary and economic fields were discussed, including confirmation. The importance of technical support and joint cooperation for the advancement of the Iraqi banking sector.
For his part, the American ambassador praised “the reform plan adopted by the administration of the Central Bank of Iraq towards the banking sector,” expressing “his country’s readiness to provide various types of support and assistance to the central bank and the banking sector in Iraq.” https://nnciraq.com/62676/
Source: Dinar Recaps
More Iraqi News Monday PM 4-26-21
TLM724 Administrator BondLady’s Corner
Parliament discusses the incident of Ibn Al-Khatib Hospital
4/26/2021 The House of Representatives held an extraordinary session chaired by Mr. Mohamed Al-Halbousi, Speaker of the Council, today, Monday, 4/26/2021, to discuss the repercussions of the Ibn Al-Khatib Hospital tragedy for patients with Corona virus.
At the beginning of the session, Mr. Al-Halbousi offered condolences to the Iraqi people and the families of the victims of Ibn Al-Khatib Hospital in Baghdad, praying to God for mercy and forgiveness for the bereaved martyrs and wishing a speedy recovery for the wounded, referring to the assignment of Dr. Bashir Haddad to represent the House of Representatives within the investigative committee formed by the Prime Minister regarding the incident of Ibn Al-Khatib Hospital.
The Majlis recited Surat Al-Fatiha for the souls of the martyrs of Ibn Al-Khatib Hospital and all martyrs of Iraq.
On the other hand, Deputy Kata Al-Rikabi read a statement in which he recalled the late MP Adnan Al-Asadi, praising his struggle since he became involved in the Islamic movement and against the defunct Baath Party regime.
After that, the Majlis recited Surat Al-Fatiha as a tribute to the souls of the martyrs of Iraq and the spirit of the Asadi deputy.
The council discussed the rationale for the Ibn al-Khatib hospital incident, which was allocated to patients with the Corona pandemic, which occurred two days ago, and which claimed the lives of dozens of dead and wounded due to negligence and mismanagement.
During the session chaired by Mr. Hassan Al-Kaabi, First Deputy Speaker of the Council, a number of women and gentlemen called for a serious stand to address the problems facing health institutions from their foundations and to combat administrative and financial corruption in them, and for the judiciary to take its role in holding accountable the negligent responsible for the occurrence of the incident to put an end to this Recurring accidents, considering the victims of Ibn Al-Khatib Hospital as martyrs, granting their families their rights, compensating the wounded, treating difficult cases outside Iraq, rehabilitating hospitals, maintaining health institutions, deconstructing the overlap in powers between the Ministry of Health and the governorates, and calling for accountability of the party that decided to choose Ibn Al-Khatib Hospital to isolate Corona virus patients despite its old.
A number of interventions also called for the ministries of higher education, education and health to be removed from the quota system in appointing ministers for them in order to advance and advance the educational and health sectors in Iraq.
For its part, the Parliamentary Health and Environment Committee indicated in a preliminary report on the Ibn Al-Khatib Hospital incident that it had performed its supervisory role since the fire occurred in the hospital by contacting the Presidency of the Council of Representatives and visiting the Ministry of Health to ask questions to its advanced staff to take technical and administrative notes,
in addition to the committee’s visit to a hospital. Ibn al-Khatib, to view the unfortunate disaster, noting that the defect in the health sector is the result of accumulations of poor performance in the executive sector, pointing out that the hospital building is old and does not contain a central fire system and the lack of regular monitoring and examination by the Civil Defense Directorate in addition to the failure on the part of Hospital protection personnel and its management by not controlling the number of companions and visitors to patients, which causes the entry of large numbers of them, as well as the use of electric heaters and cooking food inside the corridors and the accumulation of oxygen bottles inside them, in addition to the lack of financial allocations to appoint service staff in hospitals.
In the same regard, Mr. Hassan Al-Kaabi called for ending the file of the health and education departments liaison in the governorates.
On the other hand, Mr. Faisal Hassan Sukkar was sworn in as a substitute for the former MP, Hoda Sajjad.
Then it was decided to adjourn the session. Media Department Parliament 26/4/2021 LINK
Parliament Obliges The Ministry Of Finance To Direct The Necessary Allocations To Complete Regular Hospitals
Pratha News Agency19 2021-04-26 Today, Monday, the Presidency of the House of Representatives obligated the Ministry of Finance to direct the necessary allocations to complete regular hospitals.
This came during the extraordinary session held by the House of Representatives headed by Hassan Al-Kaabi, devoted to discussing the tragedy of Ibn Al-Khatib Hospital.
The Parliament’s Media Department said in a statement that “the Presidency of the Council of Representatives decided to oblige the Ministry of Finance to direct the necessary allocations to complete the regular hospitals that have reached advanced stages in all governorates and not to invoke unacceptable excuses.” http://burathanews.com/arabic/news/391210
Contributes To The Employment Of Manpower .. Moving Industry Saves The National Economy From Chronic Slumber
Monday 26th April 2021 96 Baghdad: the pillar of the emirate
The industrial sector is the center of economic development in the country, due to its connections and its superior ability to deal with other sectors, as well as the diversity of its companies and their geographical distribution, which can employ a lot of manpower.
Academic d. Abdul Karim Al-Issawi stressed that «the country’s economic reality requires getting out of the state of torpor experienced by the industrial sector, by introducing modern technology and training workers on new production lines and complete electricity supply and dividing some industries into units to start in the phase of increasing returns, as well as advertising and introducing national industries and monitoring Informal borders and imposing taxes and fees on imported goods similar to domestic production, with the development of manufacturing industries through the foreign exchange rate concession to encourage import of capital machinery and equipment, to establish industrial facilities, to apply patents and to encourage creativity in the field of technology.
He considered “transferring the ownership of state-owned public companies to the private sector one of the correct options for the advancement of the national economy in general and the industrial sector in particular.”
Rehabilitation of installations
Academic Dr. Abdul Karim Al-Issawi stressed that »the advancement in the industrial sector requires the rehabilitation of government facilities and factories and the possibility of partnership between the private and public sectors.
In a related context, the President of the Strategic Center for Arab and International Studies, Dr. Amr Hisham stressed, “The necessity of adopting a package of measures that must be adopted to advance the industrial sector, the first of which is the clear vision of the government from the industrial sector and the serious desire to stimulate the private sector, and to give it up for some major industries and projects, and the extent of the ability to absorb the workforce and provide opportunities for the workforce.”
He added, “This vision necessarily follows appropriate measures, meaning that we go towards partnership between the public and private sectors, competition between the two sectors, or integration on the basis of the monopoly of some military industries that affect national security and leave the rest to the private sector.”
Stressing on “developing and activating the role of industrial cities and industrial incubators, and attracting capital and expertise.” Foreign ». LINK
Oil Prices Are Falling Due To The Complications Of Corona In India
Monday 26, April 2021 11:39 | Economical Views: 188 Baghdad ( NINA ) – Oil prices fell today, Monday, against the backdrop of fears that the escalation of Covid-19 cases in India will squander demand for fuel in the third largest importer of oil in the world. Brent crude futures fell 0.6 percent to $ 65.73 a barrel, after rising 1.1 percent last Friday.
US crude futures, “West Texas Intermediate”, fell 0.5 percent to 61.83 dollars a barrel, after rising 1.2 percent on Friday. On a weekly basis, the two benchmarks lost about 1 percent last week. / Ended 8
Play It Right Even Once
Articles Jabbar Ali Al-Luaibi * I will not go into this episode on the merits of the great challenges that await the oil and gas sector in Iraq, but rather I will leave them for future sessions, but the logic of necessity and preserving the national interest dictates that we must harness what we have from the vast and accumulated experience in the oil industry in order to serve the public good,
We send an appeal to the Ministry of Oil that includes presenting our point of view to help in the thorny and hazy situation resulting from the efforts of some licensing round companies to withdraw and sell their shares to other partners, which created, according to my follow-up, a state of turmoil and lack of clarity of visions.
In our assessment that unless this situation is dealt with with scientific and practical transparency based on the national interest, the returns will carry with them negatives not a few, and the problems will worsen until it ends in the end to a significant decline in the march of the oil sector as a whole.
However, the picture is not completely pessimistic, and there is an opportunity. Gold at the second end of the river is emerging from new developments. It is imperative that the Ministry of Oil harness all its capabilities to create a new beneficial, working, fair and balanced situation in the licensing rounds contracts.
It is useful to briefly touch upon the negative and positive aspects, and perhaps the lapses, of those contracts, with a reminder of our opposite position to those contracts during the period of our management of the Southern Oil Company, although I still hold the same belief and conviction in the necessity of making the utmost efforts available to increase the rates of Iraqi oil production and gas investment. ; This is for clear reasons that lie in harnessing the wealth of the country in reconstruction and development.
My point of view that I have been trying to clarify regarding these contracts includes many chapters and phenomena, and I will put here a sentence of them:
1 – The contracts covered the vast majority of Iraqi fields, whether developed, under development, or those fields that are not completely developed. It is assumed that the path of those contracts will be based on scientific strategies, plans and programs, and the focus is on giant fields that are not developed and those under development, while the old and working fields are developed through mechanisms and contracts of various forms.
2 – Those contracts were drawn up hastily and urgently; As this number of contracts and their technical, administrative and legal procedures and sections at the highest levels were achieved within a very short period of time; In the end, during the periods of application, this led to the emergence of many lapses and problems.
3 – The contracts did not include any clauses in developing and engaging the national effort in the work process, which may lead to undermining this effort, which has made great and wide achievements in the Iraqi oil industry.
4 – The total ceiling set for the production of licensing rounds fields of 12 million barrels per day is a matter that lacks realism, science and transparency in all aspects, whether at the national level in the form of work volumes and the availability of logistical supplies that are far from reach, or at the external level in the distant global oil markets Far from absorbing and discharging such rates;
The thing that, if achieved rates of production, will create turmoil and tension in the global market and a sharp drop in oil prices, not to mention the near-catastrophic consequences for Iraq in fulfilling its obligations in marketing these quantities.
5 – The elements of urgency and the absence of scientific standards and transparency led to the emergence of a state of confusion and imbalance in the evaluation and approval of the participating companies; There are giant oil companies with small companies that do not have sufficient experience in developing fields, even in their country of origin.
6 – The absence of basic and fundamental aspects related to the responsibility of these companies’ participation in what is happening in the global oil markets and fluctuations in prices, supply and demand; This makes it imperative for Iraq to discharge and market all the quantities produced by these companies.
7 – The absence of companies ’commitment to the contractual and marketing specifications of Iraqi oil, which were adopted decades ago in oil marketing contracts, and this necessarily means the availability of many aspects of material losses to the country, in addition to the lack of clarity in the areas of measurements and control of the quantities produced.
8 – The mechanisms and methods that have been adopted in concluding such volumes of work for a complex, intertwined and scientific industry with its essence and nature lead to the clear conclusion that there is an imbalance and imbalance in the two sides of the equation between the Ministry of Oil on the one hand and the companies on the other hand.
In the second party, all the factors of experience accumulated over decades in management, technology, etc., and in all joints and trends, were met by a state of desertification that afflicted the Ministry of Oil as a result of the circumstances the country went through.
9 – The factor of urgency and acceleration has resulted in the absence of those contracts including basic and important aspects and chapters in building the sector, such as: gas investment, water injection projects, storage and export facilities, and others.
10 – Excluding basic and very important requirements that correspond to the path of success of the entire process, such as building housing complexes, kindergartens, schools, water and electricity systems, and others.
11 – The contracts did not address important chapters in adopting scientific and practical standards and standards in technical and administrative performance and efficiency, based on the nature of work in Iraq.
This, and there are many important and basic aspects that are not available to delve into them.
Whatever happened, what happened happened! The wheel of licensing rounds proceeded at an accelerated pace dominated by turmoil and confusion in many joints, during which the phenomenon of corruption, low performance and the desired development of the national cadre grew, while managing the wheel of work – and at high rates – was left in the hands of companies during the first years of the companies ’work, which gave them good financial returns.
It is useful here to recall that the initial calculations indicate that the total spending on licensing rounds may be equivalent in one way or another to achieving an average of about (7) million barrels per day! While the current rate is (5) million barrels per day.
After years without the work of these companies, they began to take a different direction through the introduction of fundamental changes in contracts that will inflict other pages of unfairness and harm on the Iraqi side, and some companies, including Shell, withdrew from Majnoon field, in which work was entrusted to the national effort. An experience that was associated with many complications and problems, but in the end it took the right path.
On the face of it, this proposition adopts two different and intersecting directions for one goal: The first indicates the existence of reservations about many of the joints of the licensing rounds, while the second trend highlights the positives in the continuity of the companies ’business.
The clear truth is that such conclusions and orientations stem from the preservation of the national interest and which overrides all other interests. To simplify matters, it is necessary to rely on the reality of the developments produced by those tours, the most prominent of which is the creation of new conditions, methods and work environment for the oil sector.
In light of the above, and according to the recent developments in the request of a number of companies to withdraw and sell their shares, I am fully and firmly convinced that it is a golden opportunity and a gift from heaven to the Ministry of Oil to deal with the issue with high professionalism and transparency and to develop programs within a strategic plan and a roadmap with stages Five years, during which we will reach the participation of national oil companies at rates not less than 40% for all licensing round contracts and within the following frameworks:
First: Reconsidering the provisions of the clause, the judge who is the victim of the decision to withdraw within a period of (90) days, and international oil companies must realize that these contracts are not temporary or limited according to their interests. Rather, there are higher interests for Iraq as well.
Second: The agreement between the two parties is accompanied by clear mandatory conditions, the most prominent of which is the commitment of the company requesting the withdrawal to submit plans and work programs for a period of five years to come, and include all stages of development and technical and administrative aspects so as to ensure that the withdrawal process will not affect in one way or another the effect of deviation or neutrality in Development plans.
Third: Every withdrawal or sale of shares includes the entry of an Iraqi oil company in percentages of not less than 30% in the new shares, and this condition is binding, and if the matter requires it, the central government must pay financial dues.
Fourth: Requiring licensing companies to submit periodic statements of fulfillment of qualification items and raising the performance of national cadres in all technical and administrative fields.
Fifth: The need to oblige the company that requested the withdrawal to submit proposals and alternatives to manage the work nationally or jointly in order to avoid the emergence of bottlenecks in the course of the production process.
Sixth: The necessity of activating and implementing the doors of training, raising performance and developing national cadres, as well as rehabilitating and developing the operational, service and administrative infrastructure in companies and the center of the ministry.
Seventh: Restructuring the Contracts and Licenses Department and ensuring the expansion and revitalization of the issue of reservoir management within the aforementioned department.
* Former oil minister Source: term Number of observations 147 Date of addendum 04/26/2021
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Source: Dinar Recaps
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