Bondlady’s Corner – Iraq Economic News and Points to Ponder Late Saturday Evening 3-30-24


Iraq Economic News and Points to Ponder Late Saturday Evening 3-30-24

Tlm724 Administrator Bondlady’s Corner

The Dollar Continues To Decline In Parallel Markets

Economy |  03/30/2024   Mawazine News – Baghdad  The prices of the US dollar fell against the dinar in Baghdad, on Saturday, and in Erbil with the stock market closed.

A source told Mawazine News that dollar prices fell with the closure of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 147,150 Iraqi dinars against 100 dollars, while this morning it recorded 147,350 Iraqi dinars against 100 dollars.

He pointed out that selling prices in exchange shops in local markets in Baghdad decreased, as the selling price reached 148,250 dinars for 100 dollars, while the purchase price reached 146,250 dinars for 100 dollars.

In Erbil, the dollar also recorded a decline, as the selling price reached 146,800 dinars for every 100 dollars, and the purchasing price was 146,600 dinars for every 100 dollars.

About 7 Million Barrels Within A Month… Iraq’s Oil Exports To America

Economy  Saturday, March 30, 2024   Baghdad / National News Center  The US Energy Information Administration announced on Saturday that crude oil exports to the United States amounted to more than 115 million barrels during the month of January of this year.

The administration said in a table: Iraq’s exports of oil and its derivatives in January amounted to 6.722 million barrels, 200 thousand barrels lower than what they recorded in December of last year, which amounted to 6.922 million barrels.

She added that Iraq exported about 115.263 million barrels of crude oil and its products to America during the past year.

The US Energy Information Administration stated that OPEC’s exports of crude oil and its products to America during January amounted to 34.161 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 11 million and 981 thousand barrels during the same time period.

For The Third Month… Basra Crude Oil Continues To Soar And Achieves Weekly Gains

Economy | 03/30/2024  Mawazine Yunuz – Baghdad  Basra crude achieved weekly gains, with global oil prices recording gains for the third month in a row.

Basra Heavy crude closed, in its last session on Friday, at an increase of 97 cents to reach $83.47, recording weekly gains of $2.07, equivalent to 3.18%.

Basra Intermediate crude also closed in its last session at an increase of 97 cents, reaching $86.30, and also recorded weekly gains of $2, or the equivalent of 2.37%.

Global oil prices witnessed strong increases during recent weekly market transactions, with prices heading for gains for the third month in a row.

Sudanese Advisor: The Budget Tables Focus On Investment Spending For New Projects

Economy | 03/30/2024  Mawazine News – Baghdad  The financial advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Saturday, that the 2024 budget tables focus on investment spending for new projects.

Saleh said in a statement followed by Mawazine News: “The existing procedures for completing the public finance tables for the fiscal year 2024 in order to submit them to the legislative authority for approval and implementation immediately are only a response to the text contained in the Federal General Budget Law No. 13 of 2023 (the tripartite ) Which stipulated the submission of schedules of public expenditures and revenues adapted according to the new fiscal year and its objective circumstances for the year 2024 for legal approval.

He pointed out that “the most important thing in these tables is determining the levels of investment spending on new projects, which is fundamental and fundamental spending in the movement of the national economy, as it is directly linked to the development and growth of the economy by providing objective conditions for the movement of government demand for supplies and inputs for investment in projects.”

“The demand for productive factors associated with government investment activity is essential in achieving the targeted level of growth in the annual gross domestic product and sustaining its momentum, in addition to its connection to the labor market and business and moving them in accordance with a climate required by the sustainability of the country’s economic development itself.”

Prime Minister Muhammad Shiaa Al-Sudani earlier confirmed the start of setting 2024 budget schedules.

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 Provoking Points To Ponder On Failures and Mistakes

Show me a person who has never made a mistake and Ell show you somebody who has never achieved much.- Joan Collins

He only is exempt from failures who makes no effort.- Richard Whately

Only he who does nothing makes no mistakes.- French proverb

The only man who makes no mistakes is the man who never does anything.- Eleanor Roosevelt

Life is not life unless you make mistakes.- Joan Collins

We all choke, and the man who says he doesn’t choke is lying like hell. We all leak oil.- Lee Trevino

He who has never failed somewhere, that man cannot be great.- Herman Melville