Bond Lady’s Corner Iraqi News Wednesday AM/PM 6-30-21


Iraqi News Wednesday AM 6-30-21

TLM724 Administrator BondLady’s Corner

The White Paper.. 64 Projects And Government Directions To Seek The Assistance Of International Experts

Political  | 01:55 – 30/06/2021  Baghdad – Mawazine News

, Advisor to the Prime Minister, Alaa Abdul-Hussein Al-Saadi, confirmed, on Wednesday, that the white paper included 64 projects, stressing that international experts would be hired to implement them.

Al-Saadi said, according to the official media, that “the white paper issued by the Iraqi government, in its first and second parts, identified a number of oil projects to increase export capacity, increase production, increase oil refineries, design energy, gas and gas extraction through 6 well-defined projects entrusted to the Ministry of Oil.”

He continued that “the white paper includes two parts, the first part of which deals with the Iraqi economic reality and the goals and strategies followed by the government and the translation of these goals and strategies through the second part issued by the government and which included the mechanisms and governance of implementation, in addition to dividing these goals into strategic projects in various ministries.”

Noting that “there are approximately 64 projects, and each project is divided into a number of objectives that must be implemented, and set in a time period,” noting that “there are approximately 366 objectives within the projects.”


He stressed that “the announcement to start implementing the white paper projects will be issued soon,” noting that “some ministries have started implementing some projects, but the official announcement of the implementation has not started,” explaining that “during the coming period, preparations for the implementation process will be completed.”

He pointed out that “the 64 projects included in the white paper, we will use to implement them with international expertise and international organizations, in order to provide the best experiences for each project separately, and we will launch a website for the implementation of the white paper, in order to achieve transparency and announce it to people within a very soon.”

Parliamentary Finance: Raising The Dollar Saved 22 Trillion Dinars And Closed The Salary Deficit

Posted On 2021-06-30 By Sotaliraq

Baghdad/ Firas Adnan   Yesterday, Tuesday, the Parliament’s Finance Committee denied the existence of fears of the collapse of the Iraqi economy, noting that raising the dollar contributed to saving 22 trillion dinars.

While she reported that the government had achieved positives from this decision, she spoke about damages to the citizen, most notably the reduction in the purchasing value of salaries by 22%.


Member of the committee, Representative Jamal Cougar, said, in a statement to (Al-Mada), that “the statements made by some MPs regarding the possibility of the Iraqi economy collapsing because of the dollar are inaccurate.”

Cougar added, “Iraq is a country rich in its oil resources, and the price of a barrel earlier reached $20, and the economy did not collapse.”

He pointed out, “One case makes us face the collapse of the economy, which is the collapse of the political process, since the issue will be related to the state’s facilities and its entire sectors.”

And Cougar said, “Iraq is witnessing on the economic side a recovery through an increase in bank reserves and an increase in oil prices, with government efforts to fight corruption.”

He noted, “Current indicators confirm that Iraq is going for the better, and it is not correct to say that we are going to collapse.”

Cougar refused, “to hold Parliament responsible for changing the dollar exchange rate as a decision that contributed to raising the prices of the Iraqi market.”

And he stated, “The issue was taken based on the directions of the Central Bank, and the political blocs were briefed on the repercussions of the economic situation at the time, from the possibility of repeating the scenario of last year in financial distress.”

Cougar believes that “the government’s move towards raising the price of the dollar solved its problems, but it implicated the market and the citizen with the negative aspects of the decision.”

He continues, “The government saved by raising the price of the dollar 22 trillion dinars, and it was required to achieve half of it to bridge the salary deficit, and therefore it saved the remaining half at the expense of the citizen.”

And Cougar added, “The citizen’s harm from this decision came as Iraq is a consuming country, not a producer, and all goods from agriculture to industry through import.”


Cougar went on to say that “the damage to the citizen was from three sides, namely the decrease in the purchasing power of salaries by 22%, the rise in prices, as well as the instability of the market; Because of the conflicting statements about the possibility of the dollar returning to its previous position or not.

For his part, the other committee member, MP Muhammad Al-Shabki, said in a statement to (Al-Mada), that “one of the most important tasks of the House of Representatives for the remainder of the current electoral cycle is to monitor government efforts to reduce the effects of raising the price of the dollar.”

Al-Shabki continued, “The government set a number of justifications when it resorted to making this decision, and then included it in the budget law for the current year, as the issue was related primarily to securing the salaries of employees and retirees.”

He pointed out that “previous meetings with officials in the Ministry of Finance during the past week resulted in an agreement for the government to take measures that would reduce the damage to the citizen as a result of raising the price of the dollar.”

Al-Shabki went on to say, “Parliament will monitor the government’s seriousness in these steps; It has revealed efforts to support the ration card, as well as increase the salaries of those covered by social protection, and other decisions related to agricultural crops, and therefore we hope that the expected measures will achieve their goals as soon as possible.”

It is noteworthy that the House of Representatives had voted at the end of last March on the budget law, including fixing the price of the dollar at 1450 dinars, which greatly affected the Iraqi markets, which witnessed an increase in basic goods and a decrease in the purchasing power of the citizen.   LINK

A Deputy Confirms: The Government’s Steps To Benefit From The Surplus Oil Revenues Go To Strengthen The Cash Reserve

Economy  Wednesday 30 June 2021 | 02:56 PM| Number of readings: 162

After the outbreak of the Corona pandemic and its impact on the global economy, Iraq was also affected economically, which prompted the government to borrow from the central bank and thus decreased the cash reserve of the central bank, which means that the government has to compensate for the shortfall in the cash reserve, which is what the government actually started with with the high prices oil.

Representative Jamal Cougar says, so far, the government’s steps to benefit from the amounts of the increase in oil revenues are to enhance the bank reserves, as it has fallen to very low levels from 82 billion dollars to less than 55 billion dollars, adding that it is now being strengthened and I think it has reached more than 60 billion dollars.


As for the second reason for excluding presenting a supplementary budget, MP Cougar continues, that this budget needs to be prepared and then sent to the House of Representatives, and the House needs to hold sessions in the Parliamentary Finance Committee with the participation of the rest of the committees, communicate with the ministries, make a first reading and then a second reading and vote on it,

we believe the government She will not go for this option while she is now busy preparing a draft budget law for 2022, stressing that preparing the supplementary budget needs time to prepare, discuss it in the parliament and vote on it, and we are heading to elections, which have become the preoccupation of many deputies nominated for an upcoming election cycle, thus completing the quorum and reading the draft The budget law is a first and second reading and voting on it needs to complete the quorum. I think this is very difficult in the next stage. Finished 3 Source: PUKmedia

Al-Waeli: Automating the work system at all outlets will double revenues and reduce corruption

Money  and business   Economy News _ Baghdad  The head of the Border Ports Authority confirmed, on Wednesday, that automating the work system at all ports will double revenues and reduce corruption.

And his media office said in a statement received by “Al-Iqtisad News”, that “Al-Waeli received the delegation of the General Secretariat of the Council of Ministers, represented by the Office of Information and Government Communication.”

Al-Waeli stressed, “The authority achieved positive achievements and gains during the past year, which contributed to doubling revenues and eliminating corruption networks, through the qualitative operations that the authority supervised under the direct guidance of the Prime Minister, despite the disruption of the outlets for intermittent periods due to the spread of the Corona pandemic globally. Health precautions and conditions were emphasized, and electronic work was emphasized in all outlets, which will contribute to limiting and eliminating the phenomenon of corruption.

He praised, “the role of the Government Media Cell and the Office of Government Information and Communication in the General Secretariat of the Council of Ministers, in dealing with media and awareness files for media offices in official institutions in general, and the Border Crossing Authority in particular,” expressing “the authority’s readiness to provide all facilities that contribute to the success of Joint media work.

For its part, the delegation of the General Secretariat of the Council of Ministers expressed “the continuation of the Government Media Cell and the Government Information and Communication Office in the General Secretariat of the Council of Ministers to provide support and backing to the work of the Commission.”

Views 86 Date added 06/30/2021

The Industrial Bank Launches Two Initiatives To Grant Loans Amounting To 20 Billion Dinars


Banks  Economy News – Baghdad  The Industrial Bank announced the launch of two initiatives to grant loans, while noting that the loan ceiling reaches 20 billion dinars as a maximum.

The director of the Industrial Bank, Bilal Sabah, said, “The bank has two initiatives within the documentary credits,” noting that “the first initiative relates to the central bank and interest at 3% for a period of 15 years, and three years of grace and production guarantees itself by 80% in addition to 20% real estate guarantee, as The bank is working in it,” according to the official news agency “Ana”.

He added, “The other initiative includes granting 250 million in cash, and we hope it will rise to one billion, which is related to projects that need raw materials and do not need to import a production line, and their benefit will decrease according to the new information.”

He pointed out that “the bank’s own funds are loaned from them, but at an interest rate of 6%, and because there are other loans with an interest rate of 3%, there was no direction for our own funds,” explaining that “loans are granted, according to the feasibility study, for more than 150 million, and there must be a feasibility study and upon acceptance.” The feasibility study is submitted to the Prime Minister’s office, and when the amount is approved, it will be financed by 80% of the project.”

He continued, “When the approval is issued, it returns to the bank so that the procedures begin, which is to reveal the percentage of achievements and guarantees,” noting that “there are approximately 20 factories that were granted loans from the bank.”

He stated that “factories need to open credit and most projects are working and have a high completion rate,” noting that “the bank continues to grant loans, and the highest amount that can be granted is 20 billion dinars as a maximum.”  Views 27 Date Added 06/30/2021

Source: Dinar Recaps

More Iraqi News Wednesday PM 6-30-21

TLM724 Administrator BondLady’s Corner

The Presidency Of Parliament Calls On Integrity To Reveal The Results Of 54 Corruption Files In The Ministry Of Electricity


Political  | 04:36 – 30/06/2021  Baghdad – Mawazine News, Deputy Speaker of Parliament Hassan Al-Kaabi called on the Integrity Commission to reveal the results of (54) files sent from the Parliamentary Committee in charge of investigating the contracts of the Ministry of Electricity over the past years.

Al-Kaabi said in a statement received by Mawazine News, a copy of it, that “the repeated targeting of electric power towers may be a planned and organized act that contains suspicions of corruption,” stressing that “three ministries are a basic and direct cause of the deterioration of the electricity crisis.”

He added, “The House of Representatives will take fair decisions to hold accountable those who caused the electricity crisis to continue, and there will be no guarantees to protect any negligent, starting from the minister to the youngest employee in the ministry.”

Al-Kaabi chaired an expanded meeting with the advanced staff in the Ministry of Electricity, in the presence of a number of members of the Oil and Energy Committee, and the Parliamentary Integrity Committee, to discuss the reasons for the continuing power outage crisis in Baghdad and the rest of the provinces.

During the meeting, Al-Kaabi called on the Integrity Commission to expedite the disclosure of the results of (54) fifty-four files related to the corruption of electricity contracts, which were sent by the Parliamentary Committee in charge of investigating and auditing all contracts of the Ministry of Electricity from 2006 to 2020, which had previously revealed its initial report through one of the sessions. open to Parliament.

He stressed that a number of officials and employees in the ministries (electricity, finance, oil) were a primary and direct reason for the continued deterioration in the electrical sector over the past years for many reasons related to financial or administrative corruption, and their failure to even take steps that would alleviate this crisis. .

He pointed out that the House of Representatives had previously hosted the Minister of Electricity and the advanced cadre in the ministry and made the financial allocations they demanded to address the electricity problem throughout the country before the summer season, noting that there is widespread popular discontent and great disappointment as a result of the default that cast a shadow on the the responsibility of the citizens.

He stressed that the House of Representatives will take strict and fair decisions during the next few years against everyone who fails to manage this file for one reason or another, and there will be no guarantees to protect any negligent, starting from the minister until the youngest employee in the ministry.

He added, “The repeated targeting of electric power towers in Baghdad and a number of provinces may be a planned and organized act, containing suspicions of corruption, and an attempt to evade responsibility for power outages throughout the country and justify its exposure to these sabotage acts.”

He directed the Parliamentary Security and Defense Committee to follow up on the most accurate details related to the issue of targeting energy, especially in recent days, and to give the results of the investigation as soon as possible to the Presidency of the Council, calling on the relevant parliamentary committees to submit an urgent report to today’s meeting in order to include it in one of the next few sessions of the House of Representatives, and to inform the people about The causes of the crisis, the recommendations, and the measures that the Council will take against the defaulters. Ended 29 / h


The Rise In The Price Of The Dollar In The Iraqi Stock Market And Local Markets

Pratha News Agency76 2021-06-30   The exchange rates of the US dollar recorded, today, Wednesday, a slight increase against the Iraqi dinar, in the main stock exchange in the capital, Baghdad, and the exchange shops.

Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded 146.950 Iraqi dinars for every 100 US dollars, after it registered yesterday during its opening yesterday morning, 146.800 Iraqi dinars for 100 dollars.

And the selling prices in money exchange shops in the local markets in Baghdad rose to 147,500 Iraqi dinars, while the purchase prices amounted to 146,500 dinars per 100 US dollars.

The Agriculture Committee Hosts The Director Of The Agricultural Bank Regarding The Implementation Of The 2021 Budget Items

06/30/2021  On Wednesday 30/6/2021, the Agriculture, Water and Marsh Committee, headed by Representative Salam Al-Shammari, the head of the committee, and the presence of its members and a number of other parliamentary committees, hosted the Director of the Agricultural Bank, Mr. Country.

At the beginning of the meeting, which was held at the headquarters of the Committee, the Chairman of the Committee directed a letter to the Agricultural Bank and circulated to all its branches, including postponing the payment of small loans owed by farmers in order to support this segment, which represents 60% of the Iraqi people, as well as pushing the agricultural wheel to achieve food security.

The committee called for the necessity of benefiting from the successful experiences in other countries at the level of supporting farmers and livestock, as well as setting a long-term strategic plan for the bank and overcoming previous failures.


The committee also expressed its support for what was demanded by the director of the Agricultural Bank, as it sent a letter to the Ministry of Agriculture regarding transferring the Agricultural Lending Fund to the Ministry of Finance, specifically to the Agricultural Bank, as well as directing a letter to the Residency Department regarding fees on entry fees for foreign workers that go to the account of the agricultural and industrial banks.

The committee stressed the importance of reconsidering the branches of the Agricultural Bank in the governorates and taking measures to merge or restructure some of them according to a feasibility study prepared by the bank. The committee also made it clear that it supports the transfer of the capital of the agricultural initiative from the Prime Ministry to the Agricultural Bank to achieve greater benefit for farmers and farmers.   Media Department, House of Representatives, June 30, 2021   LINK

Iraqi Oil Rises To $75.06 A Barrel

Wednesday 30 June 2021 09:32 | Economic Number of readings: 452  Baghdad / NINA / – The price of Basra Light crude rose today, Wednesday, in conjunction with the rise in global oil prices, while the price of Basra Heavy crude decreased.

The prices of Basra Light crude, exported to Asia, recorded $75.06 a barrel, an increase of 0.55%, while Basra Heavy crude fell to $70.41 a barrel, a drop of 1.40%.

Basra Light recorded the highest prices compared to other OPEC countries, as the price of Saudi light oil reached $74.04 a barrel, while the price of Iran Heavy Blend reached $69.80, the United Arab Emirates Murban blend reached $73.59, and Algeria’s Sahran blend recorded $74.36 a barrel, while Bonny Light Nigerian $74.61, Angolan Girasole $74.77./End 8

 Issue (4639) Of The Iraqi Gazette Was Issued On 06/28/2021

Law No. (1) of 2021 “the accession of the Republic of Iraq to the 1995 Grain Trade Agreement”

Those wishing to acquire a copy of the Iraqi facts can refer to the Iraqi facts department located in Salhiya / Haifa Street (Ministry of Justice Building), and obtain the required number.

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

Source: Dinar Recaps


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