Iraqi News Highlights and Points to Ponder Monday Afternoon 1-1-24

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Iraqi News Highlights and Points to Ponder Monday Afternoon 1-1-24

Iraq Is Witnessing Many Economic Events During 2023, Most Notably The Rise Of The Dollar

By video  01-01-2024 |Source: Alsumaria News  Economic events witnessed by Iraq during the year two thousand and twenty-three greatly affected the markets, especially the fluctuation of the dollar exchange rates and other fluctuations, in addition to fluctuations in the selling prices of oil, whose revenues represent ninety percent of the country’s budget.   LINK

A Slight Increase In Dollar Prices In Baghdad And Erbil By The New Year

2024-01-01 Shafaq News/ The prices of the US dollar recorded a slight increase against the Iraqi dinar, today, Monday, in the markets of Baghdad and Erbil, the capital of the Kurdistan Region.

Shafaq News Agency correspondent said that dollar prices rose with the opening of the main Al-Kifah and Al-Harithiya stock exchanges in Baghdad, recording 152,250 Iraqi dinars against 100 dollars, while yesterday, Sunday, prices were 152,150 dinars against 100 dollars.

Our correspondent indicated that the selling prices in the exchange shops in the local markets in Baghdad rose, as the selling price reached 153,250 dinars, while the purchasing price reached 151,250 dinars for every 100 dollars.

In Erbil, an increase was also recorded in banking shops, where the selling price reached 152,300 dinars against the dollar, and the purchase price reached 152,200 dinars against 100 dollars.  LINK

Within 8 Months, 80 Million Barrels Of Iraqi Oil And Its Products Were Exported To America

2024-01-01 Shafaq News/ The US Energy Information Administration announced on Monday that Iraqi exports of crude oil and its products to the United States amounted to about 80 million barrels during eight months of 2023.

The administration said in a table seen by Shafaq News Agency, that Iraq exported 79.346 million barrels of crude oil and its products to America from March until October

She added that Iraq’s exports of oil and its derivatives in October amounted to 9.116 million barrels, 727 thousand barrels lower than what they recorded in September, when they reached 9.843 million barrels.

The US Energy Information Administration stated that OPEC’s exports of crude oil and its products to America during the eight months amounted to 342.472 million barrels, with Saudi Arabia having the highest rate of exports to America, reaching 1.426 million and 159 thousand barrels during the same time period.  LINK

A New Rise In Dollar Prices In Iraqi Markets.. This List

Economy  2,295 views  Alsumaria News – Economy  Alsumaria News publishes the exchange rates of the dollar against the Iraqi dinar in Iraqi local markets for Monday, January 1, 2024.

Dollar prices rose with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 152,250 dinars for 100 dollars, while selling prices in exchange shops in the local markets in Baghdad rose, as the selling price reached 153,250 Iraqi dinars, while the purchasing price reached 151,250 dinars for every 100 dollars.

On February 7, the Council of Ministers announced its approval of amending the dollar exchange rate to 1,320 dinars per dollar.

For about a year, and specifically since the Central Bank began operating the electronic platform and the international financial transfer system ““SWIFT,” the dollar exchange rates in Iraq have not witnessed stability despite the attempts of the government and the Central Bank to control the exchange rate in the parallel markets.  LINK

Is The Government Moving To “Adjust” The Budget To Reduce The Deficit?

Politics |Today, Baghdad today – Baghdad  Economic affairs researcher Haider Al-Sheikh revealed today, Monday (January 1, 2024), a government intention to amend the budget for the three years in an attempt to control the deficit.

The Sheikh told “Baghdad Today”, “There is a tendency among the government to make an amendment to the draft law on the general budget of the Iraqi state for the three years, which was approved by the House of Representatives last June.”

He added, “There will also be some amendments made to some articles of the budget law, including making financial transfers and reducing unnecessary expenditures.”

He pointed out that “all of this will contribute to reducing the expected fiscal deficit in 2024 to 40 trillion dinars,” pointing out that “the Ministry of Finance will work to amend the draft and send it to the Council of Ministers, and after its approval in the Council, it will be sent to the House of Representatives as a legal text to amend the budget law.”

The current budget is the largest in the country’s history, amounting to approximately 153 billion dollars per year, with a large financial deficit estimated at about 48 billion annually, which is the highest and more than double the deficit recorded in the last budget for the year 2021, when it reached 19.7 billion. LINK

Labor Launches A Loan Of (35) Million Dinars To More Than Eleven Thousand Beneficiaries

Economy News – Baghdad  On Sunday, the Ministry of Labor and Social Affairs confirmed the launch of the 35 million dinar loan to more than 11,000 beneficiaries.

Ministry spokesman Najm Al-Aqabi said, in a statement reported by the official news agency and seen by Al-Iqtisad News, “In implementation of the government program and according to the ministry’s plan for the year 2023, the 35 million dinar loan was launched for 11,428 thousand beneficiaries distributed across all governorates.”

He added, “The lending process came based on the amendment to the law of the Fund for Supporting Small Income-Generating Enterprises, and the process will continue, including granting 2,862 loans to the category of beneficiaries of the Social Protection Network subsidy.”

He continued, “The Ministry’s plan for the coming year 2024 includes 11,427 loans, while 11,428 loans will be granted for the year 2025.” 170 views 12/31/2023 – https://economy-news.net/content.php?id=39043

https://media.almaalomah.me/archive/image/2023/12/31/f82cde95-5c71-44c9-9c28-6a45dd5ef0aa.jpg

The Ministry Of Transport Announces A Plan To Build 13 Ships In 2024

31 December 2023 Information / Baghdad…  On Sunday, the Ministry of Transport revealed a maritime plan for next year, as part of the “Year of Creativity” campaign launched by the Minister of Transport, Razzaq Muhaibes Al-Saadawi, at the beginning of December, which includes the quest to build 13 ships.

A statement by the Ministry’s media office, received by “Al-Ma’louma”, stated, “The General Maritime Transport Company intends to strengthen and develop the work of the marine ship fleet, by building new ships,” noting that “the plan includes building a number of ships with large tonnages that meet the country’s need to transport The ration card items and goods that we need to support other sectors in all ministries and companies operating in the country, which contributes to supporting the Iraqi economy.”

The Director General of Maritime Transport, Ahmed Jassim Al-Asadi, said, according to the statement, “The company has begun work to obtain the necessary approvals to build eight ships, six of which will be within the investment budget, two within the operational budget, and five other ships that have been contacted regarding their construction through the Japanese loan granted to Iraq.”

Al-Asadi added, “These projects were included within the Year of Innovation plan, which is directly supervised by the Minister of Transport, Razzaq Muhaibis Al-Saadawi,” stressing that “the company’s priorities in the coming year revolve around diversifying and enhancing sources of revenue, raising the efficiency of employees, completing land distribution sections, deducting profits, and increasing incentives.” .

The company’s general manager praised the role of the Minister of Transport, Razzaq Muhaibas Al-Saadawi, in facilitating the company’s procedures in terms of contracts and approvals, praising his continued support for expanding its commercial fleet in proportion to the size of the great progress achieved in recent years in the Iraqi maritime sector, through opening shipping lines with a number of Arab, Asian and European countries, the most important of which is the direct shipping line with China, as it contributed to increasing the number of commercial ships arriving at our national ports.”

The statement added, “The company currently owns 6 commercial ships, three of which are estimated to have a tonnage of (14) thousand tons, namely the Basra, Al-Muthanna and Al-Hadba, which operate in international waters outside Iraqi territorial waters.

They have roamed the seas and oceans to transport many diverse cargoes, in addition to two small ships: A service operating in our territorial waters to supply ships arriving at Iraqi ports with fresh water and fuel, and the Baghdad ship, with a capacity of 10,000 tons, operates between the Emirates and Iraq to transport various containers. LINK

Provoking Points To Ponder on Greatness:

The perfection preached in the Gospels never yet built up an Empire. Every man of action has a strong dose of optimism, pride, hardness and cunning. But all these things will be forgiven him, indeed they will be regarded as high qualities, if he can make of them the means to achieve great ends. – Charles de Gaulle

The banalities of a great man pass for wit.  – Alexander Chase

When you’re as great as I am, it’s hard to be humble.  – Muhammad Ali

No sadder proof can be given by a man of his own littleness, than disbelief in great men. – Thomas Carlyle

A tomb now suffices him for whom the whole world was not sufficient. – Alexander the Great

If my theory of relativity is proven successful, Germany will claim me as a German, and France will declare that I am a citizen of the world. Should my theory prove untrue, France will say that I am a German, and Germany will declare that I am a Jew.  – Albert Einstein

Most of the trouble in the world is caused by people wanting to be important. – T. S. Eliot

Famous Quotes and Authors, Famous Quotations for all Occasions