Sat. AM TNT News Articles 5-8-21

384

TNT

Tishwash:
The Iraq Stock Exchange will close its doors in the middle of next week

The Iraq Stock Exchange announced that it will close its trading next Monday due to the ban and Eid Al Fitr.

The market said in a statement received by “Al-Eqtisad News”, that “based on the Cabinet’s decision and the decisions of the Supreme Health and Safety Committee due to the existence of a curfew from May 12 to May 22, it will be the last trading session in securities before Eid Al-Fitr and from next Monday in order to end From settlements and clearing between brokerage firms and investors. “

He added that “the first trading session in the securities will be after Eid Al-Fitr and the curfew, and as of Sunday, May 23.”

It is noteworthy that the Iraq Stock Exchange organizes five trading sessions per 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    link

Parliamentary Finance: High oil prices will cover the 2021 budget deficit

The Parliamentary Finance Committee confirmed, on Saturday, that the fiscal deficit in the General Budget Law for the current year is estimated at 32 trillion dinars, confirming that high oil prices will enable the government to cover the deficit.

Committee member Naji Al-Saeedi said in a press interview, “The total expenditures in the General Budget Law for 2021 amounted to 129 trillion dinars, but the financial deficit in the law is estimated at 32 trillion.”

He added, “The calculation of one barrel of oil in the General Budget Law for the year 2021 had been proven at 45 dollars, and therefore the rise in oil prices would cover the expenses of the financial deficit, and provide the petrodollar project allocations and other obligations to the Ministry of Finance.”

Iraq relies on oil sales revenues to finance 95 percent of state expenditures.

The country has been experiencing a stifling economic crisis since the beginning of 2020, due to the decline in crude oil prices on global markets due to the Corona pandemic   link

A statement from the International Coalition on targeting Ain Al-Assad: No casualties

The spokesman for the International Coalition, Wayne Maruto, commented on Saturday that the Ain al-Assad base in Anbar province was targeted by a drone.

“The Ain Al-Asad air base was attacked this morning by an unmanned aerial reconnaissance system, and no injuries were reported,” Maruto said in a tweet via Twitter, noting that the hangar was destroyed, and the attack is under investigation.

He added, “Every attack against the government of Iraq, the Kurdistan Regional Government and the coalition undermines the authority of Iraqi institutions, the rule of law, and Iraqi national sovereignty.”

Source: Dinar Recaps


Tishwash:
Official: $ 25 billion is the value of the accumulated sums of the Iraqi “petrodollar” fund

Mubasher: The Parliamentary Oil and Energy Committee in Iraq announced that the accumulated sums from the “petrodollar” fund for previous years are estimated at $ 25 billion

The committee revealed today, Saturday, the allocation of one trillion dinars to the petrodollar fund for oil-producing provinces, according to the Iraq News Agency, “INA”, today, Saturday

A member of the committee, MP Sadiq Al-Sulaiti, said that “the petrodollar is an entitlement for the oil-producing and refined ore-producing provinces,” indicating that the project allocates 5 percent of the oil revenues to improve the infrastructure of those provinces.

He pointed out that “the petrodollar did not enter into force during the previous years despite its confirmation in the budgets, due to the failure to allocate the funds by the ministries of planning and finance, under the pretext of a financial deficit or the lack of sufficient liquidity,” stressing that “there have been accumulations of petrodollar sums during previous years that are estimated. About 25 billion dollars.

He pointed out that “his committee sought during the current year to amend and include the paragraph on petrodollar allocations in the budget, by establishing a fund after approving the budget,” indicating that “accounts for the fund will be opened that will be fed monthly from oil revenues

A member of the committee explained that “a trillion dinars have been allocated for petrodollar sums,” noting that “in the event that the Ministry of Finance does not open accounts for the fund and feed it with revenues, the ministry will be subjected to legal accountability either by the governorates or members of Parliament, for not applying the most important provisions of the budget.   link

Source: Dinar Recaps

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