Iraqi News Highlights and Points to Ponder Sunday Afternoon 12-17-23


Iraqi News Highlights and Points to Ponder Sunday Afternoon 12-17-23

2024 Is It The Year Of Economic Rescue?

Economical  12/17/2023  Yasser Al-Metwally   A few days and a page of time has turned.

A year of attempts to correct the blurry picture of our national economy ends, to be followed by a year that we hope will be a year of rescue. Economic from the structural distortions that afflict the Iraqi economy.

The axiom that we economists rely on in our readings of the economic scene is summed up (that expectations are based on indicators) occurring on the ground regarding economic phenomena, whether negative or positive.

Hence, our expectations for the year 2024 are determined based on our assessment of the indicators for the year 2023.

The achievement achieved during the past year (2023) falls within a realistic assessment of attempts at economic reform that is acceptable compared to the size of The challenges and problems that the economy is suffering from are a positive indicator according to this perspective.

However, the ambition is to raise the economy to an average level during this specific period in order to keep pace with global development. In any case, it is an encouraging step.

One of the indicators that makes us somewhat optimistic is that the steps of the government team in this field are beginning to become clear, although they are very slow due to the size of the problems.

The launch of a number of service projects suggests that success awaits us in this important part of With hospital, school, road and bridge projects, some of which we hope to reap the fruits of in the first quarter of 2024, and thus our prediction is sound based on this indicator.

However, we have reservations regarding measures related to expanding the benefit from these projects ( Complementary procedures) so that the planning is 100 percent sound, so we evaluated the achieved achievement at an acceptable level.

To clarify this point of view, I cite an example: road, bridge and bridge projects had to be accompanied by a decision to stop the car import chaos, in order to The achievement will be of clear economic feasibility.

Otherwise, what is the benefit of these projects with the increasing number of cars? The problem will remain. We need to reconsider our trade policy in general, especially in luxury goods.

With regard to hospitals, it is necessary to prepare, develop and expand medical competencies in proportion to the expansion of hospitals and the rate of population increase. Schools also need to reconsider the educational level of students and the level of teaching staff. Thus,The government’s orientations appear to be positive and its plans are highly ambitious.

In this case, we need a national will and legislative capabilities to support these orientations. However, what is observed and to be honest is that the routine and complexities of the legislative authority sometimes stand as a stumbling block, for political reasons, unfortunately.

We need to be aware of the necessity of keeping political differences away from attempts to save the country’s economy, because the achieved achievement is counted for everyone afterward, first and foremost.

From this standpoint, we expect that it will be There is a glimmer of hope that the year 2024 will be the year of implementation of the promising government program in this important field and the basic part that we have discussed, provided that it is supported by the legislative authority so that the picture is complete and the national will is achieved, to build a sound homeland and a healthy economy.

The Federal Court Rejects The Lawsuit To Disburse Basra’s Accumulated Petrodollar Funds

Economy News – Baghdad  The Federal Supreme Court rejected a lawsuit filed by Representative Mustafa Jabbar Sanad against the Minister of Finance, as he demanded the funds accumulated for Basra Governorate from the Petrodollar Law.

The court said that the lawsuit must be dismissed because the plaintiff’s interest condition is not met and because it does not fall within its jurisdiction.

The court indicated in the dismissal decision that “the jurisdiction of the Federal Court under Paragraph (Third) of Article (93) of the Constitution is limited to what is issued by the federal authorities and independent bodies and does not extend to ministries and other bodies. Therefore, the lawsuit must be dismissed by this body as well for lack of jurisdiction.” .

The petrodollar is the oil-producing governorate receiving a percentage of its sales, estimated at $5 for every barrel of oil produced there and $5 for every barrel of crude oil refined in its refineries.

Views 43  Added 12/17/2023 –

The Government Is Spending 133 Trillion Dinars From The Current Year’s Budget And Revealing The Status Of Employees’ Salaries For The New Year

Economy ,   12/17/2023 09:33  , Number of readings: 162   Baghdad – Iraq today:  Member of the Parliamentary Finance Committee, Mustafa Al-Karawi, said in a press interview that “delaying the budget releases does not affect employees’ salaries,” indicating that “salaries have been fully secured.”

Al-Karaawi added, “About 130 trillion Iraqi dinars were spent out of the total budget amounting to 199 trillion dinars.”

A member of the Parliamentary Finance Committee pointed out that “delayed projects are among the government’s obligations, and will be proceeded with after disbursing all investment budget allocations.”

For his part, economic affairs specialist Safwan Qusay said in a press interview, “The cessation of oil exports in the Kurdistan region affected Iraqi revenues, but the rise in oil prices in recent months made up for the shortfall.”

Qusay added, “The monthly spending rate is approximately seven trillion dinars, while the budget was built on the basis of 15 trillion dinars, meaning there is an excess in spending.” The economic affairs specialist pointed out that “the money spent is 80% of the operating budget, and the financial abundance is rotated, given that the budget is for three years.”

 Earlier, the Parliamentary Finance Committee confirmed that entering the new year 2024 will not stop the disbursement of funds from the tripartite budget, given that it was approved for three years, while indicating that the committee is awaiting schedules from the government related to spending for the new year. The head of the committee, Atwan Al-Atwani, said in a statement to the official agency, last week, that “

The committee approved a tripartite government budget, and there is no interruption to spending and disbursement, given that the approved budget is for (3) years to ensure the continuation of spending, contracting, and the continuity of the government’s work throughout its years without faltering , as happened in the past, which led to the budget being delayed for more than 6 months.

He added, “With regard to the 2024 budget, the committee is communicating with the government while awaiting its schedules, and it is possible to complete the issue as soon as possible with the aim of sending it to the House of Representatives to vote on it “  LINK

The Exchange Rates Of The Dollar Against The Iraqi Dinar… Recorded A Decline, And This Is The List

Economy  2023-12-17 | 02:29  7,549 views  Al-Sumaria News – Economy  Al-Sumaria News publishes the exchange rates of the dollar against the Iraqi dinar in the Iraqi local markets for Sunday, December 17, 2023.

Dollar prices fell with the opening of the Al-Kifah and Al-Harithiya stock exchanges to record 155,750 dinars for 100 dollars, while selling prices in exchange shops in local markets in Baghdad stabilized, as the selling price reached 156,750 dinars, while purchasing prices reached 154,750 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.

About a year ago, specifically since the Central Bank began operating the electronic platform and international financial transfer system ““SWIFT” (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

Provoking Points to Ponder From a Sioux Indian Chief

For him, to sit or lie upon the ground is to be able to think more deeply and to feel more keenly. He can see more clearly into the mysteries of life and come closer in kinship to other lives about him.

Everything was possessed of personality, only differing from us in form. Knowledge was inherent in all things. The world was a library and its books were the stones, leaves, grass, brooks, and the birds and animals that shared, alike with us, the storms and blessings of earth.

We learned to do what only the student of nature learns, and that was to feel beauty. We never railed at the storms, the furious winds, and the biting frosts and snows. To do so intensified human futility, so whatever came we adjusted ourselves, by more effort and energy if necessary, but without complaint.

The old Lakota was wise. He knew that a man’s heart, away from nature, becomes hard; he knew that lack of respect for growing, living things soon led to lack of respect for humans, too. So he kept his children close to nature’s softening influence.

Civilization has been thrust upon me… and it has not added one whit to my love for truth, honesty, and generosity.