Gold Ends The Week With Gains Of About 1.5%
Gold prices rose almost 2% to above $1860,10 an ounce in Friday, March <>, after the jobs report sent the dollar lower.
Spot gold rose 2% to $1860,23.1 an ounce, and U.S. gold futures rose 6.1850% to $4,1.5 an ounce, recording a weekly gain of about
The U.S. economy added 311,3 jobs in February, much more than expected, but the unemployment rate rose to 6.<> percent and wage growth slowed, easing expectations about the need for interest rate hikes.
Silver prices rose almost 2.1% to above $20.66, while platinum was up 1.46% at $963, and palladium was down 0.5% at $1368,.
Kurdish Delegation Visits Baghdad On Sunday To Discuss Budget And Oil Law
A source revealed on Saturday that a Kurdish delegation will visit the capital Baghdad on Sunday to discuss the budget and the oil law.
The source told Earth News that “the delegation of the Kurdistan Regional Government negotiator will head tomorrow, Sunday, to Baghdad to continue discussions with the federal government on the issues of salaries of the region’s employees, the budget law and the draft oil and gas law.”
By raising its percentage… The plight of the region’s share in the budget is resolved – Urgent
On Friday, a member of the Patriotic Union of Kurdistan, Salih Faki, revealed the percentage of the Kurdistan region’s share in the federal financial budget.
Faki said to (Baghdad Today), “There is constant communication and visits to Baghdad and a political consensus that the 12% rate is unfair and does not correspond to the obligations owed by the Kurdistan region, such as salaries, projects, debts, and others.”
“On the other hand, the regional government must fully abide by the agreement concluded with the federal government and not renounce implementation, as it happens every time, for which the Kurdish citizen pays,” he added.
Faki confirmed that “the agreement was made to determine the region’s share of the budget at 14%.”
On February 26, the head of the Cabinet of the Kurdistan Region Council of Ministers, Omid Sabah, announced that a preliminary agreement had been reached with the federal government on the 2023 budget bill.
He added, “After discussing the outstanding issues between Erbil and Baghdad, an initial agreement was reached on the Maronite draft law 2023,” noting that “the atmosphere was positive between the two parties.”
For about three months, Kurdish delegations have been making shuttle visits to Baghdad to negotiate outstanding issues between the center and the Kurdistan region, during which they met with parties concerned with budget files, oil and gas law, and border crossings. link
An Economist: The delay in approving the budget will have negative repercussions on the country’s economy
Baghdad / NINA / – The Expert in Economic Affairs, Raad Twaij, confirmed that the delay in approving the budget more than this period will have negative repercussions on the country’s economy.
Twaij said in a statement to the National Iraqi News Agency / NINA / that “the delay in approving the budget could have a meaning in the great difficulty in controlling its accuracy and the direct follow-up of the Prime Minister in order to match it with the implementation of the provisions of the government program in developing the Iraqi economy, and to work for the parties to agree on it, this From the political side, but from the economic side, it will reflect negatively on the country’s economy.”
He added, “this delay may be behind the large deficit of the budget, which is offset by the difficulty of financing, so the delay in approving the budget more than this period may have undesirable economic and monetary repercussions in the future.”
The Economist stressed the necessity of approving the budget before it is too late and entering into an emergency budget that may affect the operational budget, affect the salaries of state employees, and stop service projects because there is no funding for them./
Source: Dinar Recaps
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