Tishwash: Economist: The country’s financial situation is among the most prosperous years
Economic expert Nabil Al-Marsoumi confirmed that “the country has large cash reserves, which are greater than 100 percent of the volume of the issued currency.”
Al-Marsoumi promised in a statement seen by Al-Masry today, Thursday, that the percentage for a country like Iraq that maintains cash reserves equivalent to between 20 and 40 percent of the volume of the issued currency is positive, indicating that the financial situation is reassuring as it has exceeded 100 percent, and thus the cash reserves in the country are very large, pointing out the importance of the matter, as it represents a firewall in the face of crises that may occur, even if they are caused by a decrease in the price of oil.
Al-Marsoumi added, “The Central Bank can provide a major source of protection for the Iraqi government if it needs some financial supplies by deducting remittances from government banks,” explaining that “the financial situation that the country is experiencing is among the most prosperous years in terms of foreign exchange reserves.”
Al-Marsoumi said, “Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024,” adding, “Despite the slight decrease in foreign exchange reserves in the Central Bank of Iraq from (109,153) billion dollars in 2023 to (106.7) billion dollars in 2024 according to data from the Central Bank of Iraq, as a result of the deduction of remittances to the Iraqi government, the financial situation in Iraq is still cohesive, and it occupies the third place after Saudi Arabia and the Emirates, whose reserves amount to (499) billion dollars for Saudi Arabia and (210) billion dollars as reserves for the Emirates.” link
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Tishwash: German Ambassador: We have great cooperation with Iraq in many fields
German Ambassador to Iraq, Christiane Hohmann, confirmed on Wednesday that she would submit a report to her country’s government on Iraqi achievements, while pointing out that there is great cooperation with Iraq in many areas.
Hohmann said, in a dialogue session during the Iraq Energy Conference, which was followed by “Al-Eqtisad News”, that “one of the problems facing investors is electricity in Iraq,” indicating that “the environment in Iraq is different from our country.”
She added that “the embassy’s work is to prepare a report to our government,” noting that “we submitted a report on the achievements in Iraq.”
She pointed out that “there are Iraqi businessmen investing in Germany, and not only Germany investing in Iraq,” explaining that “Iraq has many German companies working in the electrical sector, and there is a factory in the Najaf Governorate for producing glass and a pharmaceutical factory, and there is great cooperation with German companies.”
She stressed, “We want Iraq to succeed on the national and international levels, as Iraq is a young country with young energies and job opportunities must be provided for them,” explaining that “everything is based on history and Iraq likes to focus on the past to build the future.”
She pointed out that “the presence of embassies here is to provide advice and investments, but the work will remain for the country.” link
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Tishwash: Al-Sudani calls on the heads of parliamentary blocs to vote on the budget as received from the government without change
Prime Minister Mohammed Shia al-Sudani called on Parliament today, Wednesday, to approve the budget amendment without change.
The Prime Minister’s media office said in a statement received by / Today’s News / that “Prime Minister Mohammed Shia al-Sudani hosted a meeting at the government palace today, which included the heads of parliamentary blocs, in the presence of the Speaker of Parliament Mahmoud al-Mashhadani, and his deputies Mohsen Ali al-Mandalawi and Shakhwan Abdullah.”
The statement added that “the meeting witnessed a review of the progress of the implementation of the government program, and the importance of supporting government steps in completing service and economic projects that have direct contact with citizens’ lives, as well as ways to enhance cooperation between the legislative and executive authorities to achieve development goals and priorities.”
He continued: “Based on the role of the Federal General Budget Law as a fundamental pillar for implementing the obligations contained in the government program, and in a manner that takes into account the supreme national interest, the latest amendment submitted by the government to the law was discussed.”
Al-Sudani stressed “the commitment to this text that addresses the issue of the cost of producing a barrel of oil, which was approved by the Council of Ministers in its 45th session on November 5, and was confirmed in the letter of the government representative in the House of Representatives, No. 15, sent to the House of Representatives on January 23, which is the same text that was voted on within the Parliamentary Finance Committee.”
He pointed out “the necessity for the House of Representatives to approve this amendment without change, to complete the development plans, in accordance with the economic interest of Iraq, and the vision adopted by the government program approved by the esteemed House of Representatives.”
For their part, the Speaker of the House of Representatives, his deputies, and the heads of the parliamentary blocs expressed their support for “the adoption of the government text sent to amend the Federal Budget Law.”
They stressed “supporting the government’s plans and programs in a way that achieves the supreme interests of Iraqis everywhere.” link
