Tishwash: Economist: 2025 budget amendments pending, approval date before end of year
Former Director of the Financial Supervision Bureau, Salah Nouri, confirmed today, Saturday, that developments in the global economic situation and military operations will greatly affect the Ministry of Finance’s re-adjustment of the 2025 budget schedules.
He added in his statement to {Al Furat News} that “the budget schedules are still with the executive authority (the government), and it is expected to be sent to the House of Representatives during the remainder of this October.”
Nouri explained that “the House of Representatives must approve the budget before the end of December 2024, in accordance with Financial Management Law No. (6) of 2019.” link
Tishwash: Iranian Foreign Minister to visit Baghdad tomorrow, Sunday
Iranian Foreign Minister Abbas Araghchi is scheduled to visit the Iraqi capital, Baghdad, tomorrow, Sunday.
Iranian diplomatic sources told Shafaq News Agency that Araghchi will head to Iraq tomorrow in continuation of his regional consultations.
According to the sources, the Iranian Foreign Minister will arrive in Baghdad tomorrow afternoon and during his visit, which will last a few hours, he will meet with: his Iraqi counterpart Fuad Hussein, President Abdul Latif Jamal Rashid, and Prime Minister Mohammed Shia al-Sudani.
Meanwhile, an Iraqi source told Shafaq News Agency that Araghchi’s visit to Baghdad comes to discuss developments in the security situation in the region and to emphasize not expanding the circle of war.link
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Tishwash: Iraq and the region’s oil exports on the table of Masrour Barzani and an American delegation
On Friday, Masrour Barzani, Prime Minister of the Kurdistan Regional Government, discussed with an American delegation headed by Congressman Seth Moulton the developments in Iraq and the Middle East.
A statement received by Shafaq News Agency stated that, “During the meeting, which was attended by the US Consul General to the Kurdistan Region, Tiff Bittner, we exchanged views on the latest developments in Iraq and the region, and discussed ways to strengthen relations between the Kurdistan Region and the United States.”
Congressman Moulton pointed out that the Kurdistan Region is a reliable friend and ally of the United States in the region, and stressed the importance of supporting the Peshmerga and protecting the security of the Kurdistan Region.
Barzani expressed the regional government’s gratitude to America for its support and assistance to the region, and stressed his keenness to strengthen the prospects of cooperation between the two sides in various fields.
He pointed out that the meeting focused on the progress made in the field of reforms related to the joints of the Ministry of Peshmerga, as we agreed on the importance of supporting, strengthening and accelerating the reform process in the ministry, in a way that ensures the unification of its forces.
The two sides discussed the necessity of exporting the Kurdistan Region’s oil, and we discussed preparations for holding legislative elections in the region, as well as the US presidential elections, the tense situation, wars and escalation in the Middle East, and the efforts made to achieve security and stability in the region in general. link
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Tishwash: Reasons for the rise in the dollar price in parallel markets.. a reaction extending for 30 years
Diyala Chamber of Commerce identified, today, Friday (October 11, 2024), the reasons for the rise of the dollar in the parallel market in the past days.
The head of the Diyala Chamber of Commerce, Mohammed Al-Tamimi, said in an interview with Baghdad Today, “There is no disagreement that the region is going through a very difficult and sensitive turning point with the drums of a comprehensive war beating that could happen at any moment in light of the escalation of statements between the various parties without any glimmer of hope on the horizon that things will move towards calm and fair containment at least.”
He added, “Iraq is part of the Middle East region and the current tensions are directly putting pressure on the parallel market and leading to an increase in its prices compared to the dinar, especially with the existence of speculation and fear that has prompted many to be cautious in converting their dollars into Iraqi dinars in anticipation of any exceptional circumstances.”
Al-Tamimi pointed out that “any future strike will inevitably raise the parallel market, but in return there are measures by the Central Bank to control the situation,” stressing that “the situation is likely to undergo many developments, especially since the damage to the Iraqi markets is real.”
He explained that “the rise in the prices of basic materials, even by small percentages, does not reflect the direct impact of the rise in the dollar, but rather the growing purchasing power of broad segments that have an accumulated reaction and fear of wars extending to 30 years, which pushes them to store some materials in anticipation of any emergency.”
The exchange rate of the dollar against the Iraqi dinar witnessed a noticeable increase during the past few days, as the selling price exceeded 153 thousand for every 100 dollars. link
