Iraqi News Highlights and Points to Ponder Tuesday Afternoon 4-16-24


Iraqi News Highlights and Points to Ponder Tuesday Afternoon 4-16-24

Parliamentary Finance Reveals Two Reasons Behind The Delay In Sending Budget Schedules

Policy  Information / Baghdad..   On Tuesday, the Parliamentary Finance Committee revealed the fact of the delay in sending the 2024 budget tables to the House of Representatives for the purpose of voting, indicating that the tables are complete, pointing out that there are two main reasons behind the delay in sending them to Parliament.

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Committee member Representative Hussein Moanis told Al-Ma’louma, “The problem with delaying the 2024 budget schedules does not lie in the completeness of its details, but rather the problem relates to two technical and monetary issues.”

He added, “The government has accomplished what it had to do, but the lack of cash is the main reason for the government’s delay in sending these schedules,” noting that “most of the projects have begun to stop due to a lack of financial funding.”

Mu’nis explained, “The Finance Committee hopes that the government will provide sufficient cash, especially after the end of Prime Minister Muhammad Shiaa Al-Sudani’s visit to Washington.”

On June 12, 2023, the House of Representatives approved the financial budget law for the three years 2023, 2024, and 2025, as the budget approved more expenditures and investments as a direct result of the increase in oil revenues, which constitute 90% of the country’s revenues. Ended/25 AD  LINK

America Gives Up The Region’s Oil And Acknowledges The Federal Court’s Decision

April 16, 2024  Baghdad/Al-Masala Al-Hadath: The oil affairs advisor in the Patriotic Union of Kurdistan, Bahjat Ahmed, criticized on Tuesday. What he described as “the United States turning its back on the Kurdistan oil file.”

Ahmed said in an interview followed by Al-Masala, “The White House confirmed that US President Joe Biden urged that Iraq must reach the level of energy self-sufficiency by 2030 and no longer needs foreign countries,” adding that “it is clear that America has abandoned the region’s oil.” It did not attach any importance to it and acknowledged the decision of the Federal Court and the International Arbitration Court in Pars, and what the media is talking about discussing the Kurdistan oil file and its re-export is not true.”

He pointed out that “the oil line that is being repaired now is for Mosul-Kirkuk oil via Turkish Ceyhan, and has no relation to Kurdistan oil at all.”

The joint statement of the Iraqi-American discussions that took place in the White House talked about discussing future plans to develop Iraq’s resources and ensuring that all Iraqis benefit from their country’s natural wealth, in accordance with the Iraqi constitution, the importance of ensuring Iraqi oil’s access to international markets, and the desire to reopen the oil pipeline. pipelines between Iraq and Turkey. President Biden also praised the efforts of the Prime Minister and the Iraqi Kurdistan Regional Government to reach a solution to all outstanding legacy issues, including the current arrangements to pay two months’ salaries to employees of the Iraqi Kurdistan Regional Government, and encouraged continued progress.

Parliamentary Meeting In Preparation For The Arrival Of The 2024 Budget Schedules

Money  and business  Economy News – Baghdad   Today, Tuesday, the Parliamentary Finance Committee held a meeting headed by Atwan Al-Atwani in preparation for the arrival of the 2024 budget schedules.

Al-Atwani’s media office stated in a statement received by Al-Iqtisad News Agency, “The Parliamentary Finance Committee held a meeting today headed by Atwan Al-Atwani, and hosted the Director-General of the Accounting Department and the Director-General of the Budget Department at the Ministry of Finance.”

Al-Atwani confirmed that “this meeting came in preparation for the arrival of the 2024 budget schedules,” pointing out that “we discussed a number of files, including the delayed release of funding, and we reviewed the 2023 spending schedules.”   Added 04/16/2024 –

Iraq Records The Highest Quarterly Growth Rate In Customs Revenues

Money  and business  Economy News – Baghdad  Advisor to the Ministry of Finance and Head of the Customs Authority, Hassan Hamoud Al-Ugaili, announced the highest quarterly growth rate in customs revenues in the authority’s history, indicating the escalation of steps to implement the automation system (ASYCUDA) in five land and sea centers.

Al-Ugaili said in a statement followed by Al-Iqtisad News: “We achieved outstanding financial results in the first quarter of 2024, with revenues increasing since the beginning of the millennium by 120%, amounting to more than 471 billion dinars, compared to revenues for the year 2023 amounting to 257 billion dinars.”

He attributed this increase in revenues to the Commission’s adoption of a number of administrative reforms, as well as accountability, monitoring, and strictness in combating smuggling and evasion, in addition to simplifying and reconsidering obstructive procedures, punishing abusers, and referring corruption cases to the Integrity Commission,

 in addition to implementing the ASYCUDA automation system, which has enhanced a significant leap in the volume of Revenues are sufficient to achieve added annual revenue by reducing the budget deficit gap and financing many important strategic projects in financing public budgets.

Al-Ugaili stressed the importance of the region’s authority’s commitment to the pricing system to collect customs duties at the region’s ports and to close unofficial ones in order to preserve the sustainability of the economic system and federal revenues, to protect national goods and products, to ensure the extraction of rights and fees from imported goods, to prevent any competition that might harm the local economy, and to prevent the entry of prohibited goods. It was necessary to The region carries out customs transactions in accordance with the Federal Customs Law.

Al-Ugaili also revealed that all administrative and technical procedures have been prepared for the opening of the automation system (ASYCUDA) during the next month of May in five customs centers in each of the central port and the southern port in Umm Qasr, as well as in the Safwan land port with the State of Kuwait, the Arar land port with the Kingdom of Saudi Arabia, and the Tarbil port. Land with the Kingdom of Jordan, bringing the operational total of automation to 9 land, sea and air ports.

He stated that the Authority has completed training programs for about 800 people, including employees, discharge agents and transport companies, to work on the smart automation platform, machine learning (ML) and other cognitive technologies for collecting data.

This allows companies and discharge agents to reduce the manual time spent on repetitive business processes and reduce human errors, with a decrease in… Human intervention, which saves companies time and money, reduces resource expenses, enhances workflow through automatic responses and can provide support 24 hours a day, 7 days a week, calling on importing and transporting companies with headquarters in Baghdad to join their workers and join the mandatory courses at the center. Which was recently opened at the Authority’s headquarters.  Views 144 04/16/2024 –

Iraq And 13 Arab Countries Possess About 1,500 Tons Of Global Gold Reserves

Money  and business  Economy News _ Baghdad  The World Gold Council revealed on Monday that Iraq and 13 Arab countries possess approximately 1,500 tons of global yellow metal reserves.

The Council said in its latest schedule for the month of April, which Al-Iqtisad News reviewed, that “Iraq, Algeria, Egypt, Lebanon, Saudi Arabia, Libya, Qatar, Kuwait, Jordan, Syria, Morocco, Tunisia, Bahrain, and Yemen, their global reserves of gold amounted to one million and 481 thousand kilograms.”

He added, “Iraq maintained its ranking of 30th globally out of the 100 countries listed in the table with the largest gold reserves, as its gold possessions amounted to 142.6 tons, which represents 8.4% of the rest of its other reserves.”

He pointed out that “the United States of America tops the list with the largest possession of gold in the world with 8,133.5 tons, followed by Germany with 3,352.3 tons, then Italy with 2,451.8 tons, while Yemen ranked 99th with 1.5 tons, followed by Bosnia and Herzegovina with the same amount of 1.5 tons.”

The Council stated that “Iraq announced on June 27, 2022, the purchase of new quantities of gold amounting to approximately 34 tons, an increase of 35% over what it had in possession, while in May it announced the purchase of 2.3 tons of gold.”

It is noteworthy that the World Gold Council, which is based in the United Kingdom, has extensive experience and deep knowledge of the factors causing market change, and its members consist of the largest gold mining companies in the world. Views 68 04/15/2024 –

Minister of Planning: Iraq is working with its partners to stimulate its economy

Economy | 05:15 – 04/15/2024   Mawazine News – Baghdad  Deputy Prime Minister and Minister of Planning, Muhammad Ali Tamim, confirmed today, Monday, that the government of Prime Minister Muhammad Shia al-Sudani is focusing on economic reform and establishing partnerships with countries around the world.

Tamim said in a joint press conference held with US Secretary of State Anthony Blinken in Washington, followed by Mawazine News, “We hope in today’s meeting to come up with positive decisions,” stressing that “the Iraqi government warns of the widening escalation and calls for restraint.”

Tamim added: “Today we are focusing on the agriculture, industry, investment and energy sectors,” noting that “the Iraqi government is working to expand its economic partnerships.”

He continued, “The Iraqi government is working to expand its international partnerships and gas investment,” explaining that “Iraq is working with its partners to stimulate its economy.”

Provoking Points To Ponder on Failures and Mistakes:

Your success depends on your ability to dream and follow through on those dreams.- Jinger Heath

Keep trying. Take care of the small circle around you. When you have succeeded with them, then move outwards, one small step at a time.- Audrey Hepburn

It is better to be young in your failures than old in your successes.- Flannery O’Connor

There might be false starts and do-overs. You are entitled to experiment before you find your calling.- Jane Pauley

Life is the only real counselor. Wisdom unfiltered through personal experience does not become a part of the moral tissue.- Edith Wharton

The only failure which lacks dignity is the failure to try.- Malcolm F. MacNeil

To know that one has never really tried – that is the only death.- Marie Dressier