Bond Lady’s Corner Iraqi News Tuesday AM/PM 5-18-21

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Iraqi News Tuesday AM 5-18-21

TLM724 Administrator BondLady’s Corner

Al-Haddad calls on the federal government to expedite the implementation of the general budget law and the implementation of its provisions, and to send financial allocations to the governorates for the construction, reconstruction and development process

05/18/2021    Deputy Speaker of the Iraqi Parliament, Dr. Bashir Khalil Al-Haddad called on the federal government to implement the Federal Budget Law, which the House of Representatives voted on 3/31/2021, despite the differences and problems, but the House of Representatives was able to pass this important law that affects the lives of citizens Those who were happy at the time.

The Vice President of the Council expressed his concern about the federal government’s delay in the routine procedures that delayed the implementation of the articles and paragraphs of the budget law, which increases the suffering of the citizens, while he called on his sovereignty to expedite the sending of financial allocations to all governorates of Iraq and to enable local administrations in the implementation of service projects and advance the wheel of construction, reconstruction and sustainable development. It brings stability and prosperity to the country.

The Media Office of the Deputy Speaker of the Iraqi Parliament, Tuesday, May 18, 2021   LINK

Prime Minister Mustafa Al-Kazemi Receives The Assistant Secretary-General Of NATO

18 -May-202 1   The Prime Minister, Mr. Mustafa Al-Kazemi, received today, Tuesday, Assistant Secretary-General of the North Atlantic Treaty Organization (NATO), Mr. John Manza, and his accompanying delegation.

During the meeting, they discussed bilateral cooperation between Baghdad and NATO, and the role that the NATO mission plays by supporting Iraq in its war against terrorism, and in raising the level of its military capabilities within the frameworks of training and advice, developing institutional structures and others.

The Prime Minister affirmed the government’s endeavor to enhance bilateral relations between Iraq and NATO, and the importance of this relationship elevating to a new and fruitful beginning confined to non-combat fields in accordance with the requirements of the Iraqi government and respect for the country’s sovereignty. Information Office of the Prime Minister of  17 May 2021   https://pmo.iq/press2021/18-5-202101.htm

The “Industrial Dollar” Contributes To Reviving The National Product

Tuesday 18th May 2021 106  Baghdad: Hussein Thahab   International economist Abdulaziz Al-Khudairi stressed the importance of giving a special low price for the dollar (industrial dollar) to enable industrialists to open documentary credits for their machinery and imported raw materials, which in turn leads to lowering the cost of the national product.

He added that «the Ministry of Finance and the Central Bank are required to distinguish and support the national industry by giving it a special price to buy dollars (especially in opening credits for raw materials and machinery). The sale of subsidized dollars to industrialists on the condition that documents are opened through banks will greatly encourage the stalled factories and accelerate their start-up, which ultimately leads to alleviating the unemployment problem, which has become constantly exacerbated. He stressed that “a large number of industrialists will start operating their factories when they are allowed to open credits with subsidized dollars.”

50 licensed factories

Al-Khudairi pointed to the dye industry in the country, which began 80 years ago, and the activity and numbers of this sector increased to include at least 50 factories licensed and registered with the Ministry of Industry. He said, “Despite the simplicity of this industry, its heritage in the country, and the number of many factories, the Ministry of Industry did not protect the product by taking any step to support the dyes industry, despite the fact that a number of factories submitted requests to protect the product for years.”

Great labor

He drew attention to “the importance of having a balance between the local product and the need of the local market and what is imported, to protect the product and provide the actual market need, as this industry requires large labor and contributes to reducing unemployment problems that have become chronic.”   LINK

A Clear Increase In The Local Market Supply Prices

Tuesday 18th May 2021  114  Morning: Nafeh Al Naji  The effects of the decision to devalue the national currency continue to affect the reality of local markets, as prices rose and extended to local products such as meat, vegetables and fruits, and this had negative effects on hard-working, poor or low-income families, and the distribution of a double food ration for families during the holy month of Ramadan reduced the burden imposed by Markets. The prices of red meat, chicken, table eggs, fish and many other products (most of which are national and non-imported) increased, and their prices varied clearly during the holy month of Ramadan.

Meat and fish merchant Hussein Abdel-Hadi said: to {Al-Sabah} that «the reason for the high prices is due to the stopping of most of the floating cage breeding projects matched by the increase in demand. It also rose frequently, ”he said.

Livestock

He added that «the lack of government support for livestock projects, including poultry production projects, was behind the high prices, especially after the adoption of the new dollar exchange value, as the price of fodder per bag rose from 40 to 70,000 Iraqi dinars, which led to the loss of many breeders, not to mention you. About the diseases that affected poultry fields in the recent period, which led to a decrease in their numbers.

The value of the coin

In turn, owner of a food store, Hisham Salman, stated that “the devaluation of the currency greatly affected imported materials, as for local materials, they were also affected, but relatively, as the price of one package of edible oil reached three thousand dinars after it was half this number, while The price of a bag of powdered milk increased to 2,500 after it was 1,500, and a kilogram of sugar rose to 1,500 dinars, after it was 750 dinars. The same applies to tomato paste (the majority of which is imported). The prices of all kinds of legumes, as well as rice, increased by 750 – 1000 dinars per kilogram.

It is noteworthy that the local markets witnessed a significant increase in prices of foodstuffs, table eggs, dairy products, and meats of all kinds, which caused a clear impact on those with limited or no incomes, the majority in our society, from purchasing what they needed from the needs, and had it not been for the Ministry of Trade’s distribution of two consecutive rations during the aforementioned month. Unforgettable results.

Overload

Nidal Ahmed (a housewife) says: “The high prices of basic vegetables greatly affect the poor and toiling families and increase the burden on the shoulders of the citizen, who has become between the price hammer and neglect or (ignoring) the government under the harsh conditions imposed by the Corona pandemic and the curfew for long days Not to mention the stopping of the ration card items, except for a little bit of it.

Nidal called on the government and its specialized agencies to take swift measures to control and control prices, to save the citizen from high prices, and to stand with the segment of the poor who offered and did everything for this country in the most difficult circumstances.   LINK

Directions For Developing The Investment Environment

Tuesday 18th May 2021   102   Baghdad: Morning  A member of the Iraqi Economic Association d confirmed. Ikram Abdulaziz continues to work with specialized organizations in order to provide ways to develop the investment environment and attract the global investment effort Evolving.

She added, “Investments of all kinds provide capital, technologies, and technical human expertise capable of advanced technology in the fields of projects that work on investment.

In which”.

She indicated that «the success of managing investment projects in general comes from the speed of decision-making, and the keenness to pay attention to the important factor of creativity in achieving success and distinction and providing the appropriate climate or environment for activities.

Economic ».

She pointed to «a consensus witnessed by the economic circles in order to achieve success in the implementation of investment projects in all regions of Iraq, which require a very large volume of work that attracts major companies Globalism”.   LINK

Electricity Reveals The Size Of Its Debts To Citizens And Government Institutions

Time: 05/18/2021 15:48:07 Read: 1,664 times   {Local: Al Furat News} The Ministry of Electricity revealed the size of its debts owed by citizens, institutions and government ministries as collection fees for electricity consumption.

“Our debts range from 3 to 4 trillion dinars for the energy supplied to government departments and government institutions, and there are some exceptions for some departments such as water and sewage stations, hospitals and medical centers, in addition to the exception from the programmed cut,” the ministry’s spokesman, Ahmed Al-Abadi, told Al-Furat News.

He added, “These debts, if paid to the ministry, are dues that can contribute greatly to providing the ruling materials, easing bottlenecks, creating nutrients and maintenance work instead of going to these works with debt.” LINK

The Regional Government Is Seeking To Establish 11 Industrial Cities

Time: 05/18/2021 12:17:04 Read: 1,729 times   {Kurdistan: Al Furat News} The Minister of Trade and Industry in the Kurdistan Region, Kamal Muslim, announced, on Tuesday, that the regional government is seeking to establish 11 industrial cities, and work to end the import of raw materials.

1621328206315[1].jpeg

“This project is one of the strategic projects, and we have set up a solid program to build another plant in the region,” Muslim said in a speech during the opening of a steel industry factory in Erbil, stressing that by diversifying sources, Kurdistan’s internal financial revenues can be increased.

He added that “the regional government pays great attention to all industrial and commercial sectors.”

The minister also said: We are working on building 11 industrial zones in the Kurdistan Region, and we seek to produce raw materials in the region and not import them from abroad.   LINK

Source: Dinar Recaps


More Iraqi News Tuesday PM 5-18-21

TLM724 Administrator BondLady’s Corner

Al-Tamimi: Oil Prices Are On The Way Up And There Is An Opportunity To Depress The Dollar

Author: AhadNA3 On 5/17/2021 – 9:21 p.m. 106   The economist, Wissam Al-Tamimi, said today, Monday, that global oil prices will rise by a few dollars above the current current price, pointing out that some variables in the American economy in addition to the Palestinian events are all factors that will lead to an increase in global oil prices.

Al-Tamimi said, “The government has a surplus of exported oil revenues a month, up to $ 20 for each barrel at a time when Iraq exports more than 3 million barrels per day.”  He added, “The selling prices of oil are on the rise for a few dollars, especially since there are some American variables, the Palestinian situation and the continuation of the Zionist attacks, all of which will help in the rise in prices.”

Al-Tamimi pointed out that “Iraq, as an oil-exporting country, will be the first to benefit from the high oil price in the event that the government exploits this rise optimally, as the current and future rise must be matched by a reduction in the dollar’s exchange rate in local markets, after the need to return the cash reserve in the bank has ceased to exist.” Central ”.   https://alahadnews.net/196503/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af/

The Region Inaugurates One Of The Largest Steel Mills In Iraq

Time: 05/18/2021 11:26:39 Read: 2,756 times   {Economical: Al Furat News} The President of the Kurdistan Regional Government, Masrour Barzani, inaugurated this morning the largest factory for the manufacture of iron and steel in the city of Erbil.

According to the provincial government statement, Barzani opened the Med Steel plant at 11 am, one of the advanced and large factories at the level of all Iraq.

The cost of the plant is $ 100 million, and its production capacity reaches 350,000 tons of iron and shellman, and it provides job opportunities for 1,000 workers.   LINK

Tuesday … a slight increase in the exchange rates of the dollar in the local market

Economie| 10:38 – 05/18/2021  Baghdad – Mawazine News

The exchange rates of the dollar witnessed, on Tuesday, a slight increase in the main stock exchange and local markets in Baghdad.

The exchange rate of the dollar rose on the Al-Kifah Central Stock Exchange in Baghdad, recording 146,600 dinars, for each $ 100 bill.

The prices of buying and selling dollars in exchange offices and local markets in the capital, Baghdad, witnessed remarkable stability, as the selling price reached 149,000 dinars for each $ 100 bill, while the purchase prices reached 148,000,000 dinars for each $ 100 bill.   On Sunday, the Central Kifah Stock Exchange in Baghdad recorded 148,500 dinars for each $ 100 bill. Ended 29 / p4   

https://www.mawazin.net/Details.aspx?jimare=153530

Saleh: The Government’s Monetary Presence Is At Its Best

Financial Adviser to the Prime Minister, Dr. Mazhar Muhammad Salih «Economy News»

Money  and business  Economy News – Baghdad    The financial advisor to the Prime Minister, Mazhar Muhammad Salih, reassured, on Tuesday, that the salaries of employees and retirees and social care are insured during the current and next years, while expressing his fear that the passage of the 2022 budget will stall.

Saleh said, “The Iraqi government’s cash presence is at its best at the present time,” noting that “the average price of a barrel of oil today is about $ 60, and the obligations payable have been performed on a regular basis, and the cash liquidity is high,” according to “Wawa.”

He added that “the budget was hedged with internal borrowing for fear of facing any shortage of liquidity,” noting: “If the default price in the budget is 45 dollars and the real price is 60 dollars, there will be a difference to cover the requirements on the basis of financing the deficit by borrowing.”

He added that “there are pessimistic theories that assume that there are other payments and that non-oil revenues are still low. They are taken into consideration that oil revenues are recorded in one form, and the truth is another form.” The remaining% of the revenues are non-oil, but in practice this has not materialized, so there is a gap that is covered by borrowing.

He stressed that “the economic situation in general is reassuring, and there is no fear for it in light of the current circumstances,” noting that “the most prominent economic challenges are the coincidence of the election date 10/10 with the date of submitting the draft of the federal budget for 2022 between the Council of Ministers, in which the approval of laws becomes disrupted and becomes The government is a business administration and between parliament, which is about to be constitutionally expired. “

He pointed out that “this matter is worrisome, and we do not know how the elections will end and how the next government and parliament will be formed,” explaining that “all these matters are against the approval or delay of the budget.”

Saleh stressed that “there is no fear of regular payment of salaries to employees and retirees and social care in light of the regular and high financial flow and budgetary hedging,” indicating that “the situation will be comfortable until the end of the year 2022.”  Number of observations 58 Date of addendum 05/18/2021 https://economy-news.net/content.php?id=25097

Mazhar Muhammad Salih: Partnerships Between The Public And Private Sectors … Is Important For Maximizing Resources

Tuesday 18, May 2021 12:18 | Economical Views: 338   Baghdad / NINA / The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, affirmed that: The partnership between the public and private sectors … is an important matter for maximizing resources.

He told the Iraqi National News Agency / NINA / that the pattern of partnership between the public and private sectors takes a place in global production of about 28%, especially the industrial ones.

Saleh added that with this partnership, losing public companies could turn into profitable joint companies.

Parliament will soon approve the law on partnership between the public and private sectors. / End 3

https://ninanews.com/Website/News/Details?key=904913

Oil Prices Exceed $ 70 A Barrel

Pratha News Agency65 2021-05-18   Oil prices rose today, Tuesday, as Brent rose to above $ 70 a barrel, in light of optimism in the markets about the increase in demand for crude in 2021.

By 7:05 GMT, Brent crude was trading above $ 70 a barrel for the first time since March 5, when Brent recorded $ 70.10 a barrel, an increase of 0.92% over the previous closing price.

While the US crude “West Texas Intermediate” rose by 0.91% to 66.87 dollars a barrel

http://burathanews.com/arabic/economic/392652

To read more current and reliable Iraqi news please visit BondLady’s Corner:

https://www.bondladyscorner.com/

Source: Dinar Recaps

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