TNT – “Tidbits From TNT” Saturday 3-23-2024


Tishwash:  Iraq is ninth in the world in natural resource reserves.. Russia is first and America is second

 Iraq was ranked among the top ten countries possessing the most valuable natural resource reserves, in terms of total estimated value for the past 3 years.

According to the Statista website, natural resources are the raw inputs used to make everything that is used, from intermediate goods to final products, and these resources are found in the ground among reserves that have not yet been extracted.

According to Statista estimates, Russia came in first place, with the value of its natural resource reserves amounting to $75 trillion. This amount includes coal, oil, natural gas, gold, timber, and rare earth minerals.

The United States came second, and the estimated value of its natural resources is estimated at about 45 trillion dollars, approximately 90% of which is wood and coal.

Iraq ranked ninth, as it possesses $15.9 trillion in natural resources, and its desert terrain contains oil, natural gas, phosphate and sulfur, according to the site.

Iraq is the second largest producer of crude oil in OPEC, ranks fifth in the world in possessing proven crude oil reserves, and relies on the export of crude oil to obtain a large amount of its revenues.  link


CandyKisses:  Parliament finances confirm high size of 2024 budget. What are the reasons for the delay in sending it?

 Economy News – Baghdad

The Parliamentary Finance Committee confirmed on Saturday the increase in the size of the federal budget to 207 trillion dinars, explaining the reasons for the delay in the arrival of the general federal budget tables to the House of Representatives for approval.

Mueen al-Kadhimi, a member of the parliamentary finance committee, commented on the issue by saying that the delay occurred at the Prime Minister’s Office or by the Office of the Advisory Committee.

Al-Kazemi explained that “the ministries of finance and planning have completed their work regarding the budget tables, as the amendments were supposed to be sent before the end of 2023.”

“If the amendments are sent, the House Finance Committee will review them and then present them to the House for approval,” he said.

He pointed out that “the approved budget is a tripartite budget for the years 2023, 2024 and 2025, and it is natural that amendments will be made by the government to some figures that it deems necessary,” noting that “the amendments led to an increase in the size of the budget from 199 trillion dinars to 207 trillion Iraqi dinars.”

Earlier in the day, the Legal Committee announced that the 2024 fiscal budget tables were imminent to reach the House of Representatives.

The Ministry of Finance announced on the thirteenth of March the completion of data related to the 2024 budget tables, the inclusion of texts and their submission to the Council of Ministers


CandyKisses:  Finance Minister Stresses The Importance Of Partnership With The European Bank To Diversify The Sources Of The Economy

Earth News / Minister of Finance Taif Sami Mohammed stressed the importance of partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy.

According to a statement by the Ministry of Finance received by Earth News, “Minister of Finance Taif Sami Mohammed, met with the President of the European Bank for Reconstruction and Development (EBRD) Odile Renault-Basso, at the Bank’s headquarters in the United Kingdom, and the Minister of Finance began her meeting with the President of the European Bank for Reconstruction by referring to the strategic partnership between Iraq and the Bank, and discussing ways to strengthen bilateral relations to ensure the possibility of strengthening the private sector in Iraq and digitizing the banking system.”

The Minister of Finance stressed “the importance of partnership with the European Bank to support the Iraqi government’s plan to diversify the sources of the national economy,” noting that “the priorities of the Iraqi government are investment in the fields of energy and digital transformation in financial infrastructure.”

For her part, Odile stressed “the bank’s desire to work in Iraq and contribute to supporting the private sector and renewable energy.”


Tishwash:  Al-Abadi: Al-Sudani’s visit to Washington is in the interest of Iraq

The head of the Victory Coalition, Haider al-Abadi, stressed the importance of the visit of Prime Minister Muhammad Shia al-Sudani to Washington in the middle of next month at the invitation of US President Joe Biden.

Al-Abadi said in a {special interview} on Al-Furat satellite channel: “The Prime Minister’s visit to Washington is in the interest of Iraq,” stressing “the necessity of reorganizing the relationship with the international coalition.”

Regarding the Kurdistan Democratic Party’s announcement of its boycott of the Kurdistan Regional Parliament elections next June due to its objection to the decisions of the Federal Supreme Court, Al-Abadi said, “The party’s positions must be clear regarding the decision to boycott the elections,” stressing that “the party’s withdrawal from the elections does not hinder them in the region from a formal standpoint, but Can a Democrat abandon the regional government?

Regarding the position of presidency of the House of Representatives remaining vacant, Al-Abadi affirmed, “This obstruction is not correct,” indicating that “the dispute is confined to the Sunni political forces, and we tend toward the option of deciding the position within the House of Representatives, and it does not necessarily belong to the largest Sunni bloc.”
He added, “A large majority of representatives may vote in favor of candidate Salem Al-Issawi.”

Al-Abadi said, “The United Nations Mission in Iraq (UNAMI) is not strong and is not a decision-maker, but closing UN and international missions is not a good thing, and the Iraqi government is not moving toward that.  link