Monday, February 5, 2024
In the document.. Cancellation of the license of an Iranian bank branch in Iraq, 5 FEB
In the document.. Cancellation of the license of an Iranian bank branch in Iraq
The Central Bank of Iraq decided to cancel the license of an Iranian bank branch in Iraq.
According to a letter to the bank to the Iranian bank, {Euphrates News} received a copy of it that “based on the decision of the Board of Directors of this bank No. (185) of 2023, due to the losses incurred by the bank’s branch in Iraq, the limited activities it exercises, the inability to implement or expand the practice of banking activities, and therefore, there is no useless in continuing to work inside Iraq, in addition to its coverage of international sanctions, it was decided to cancel the license of the branch in Iraq.”
https://alforatnews.iq/news/بالوثيقة-إلغاء%C2%A0رخصة-فرع-مصرف-ايراني-بالعراق
"ANALYSIS OF IRAQ NEWS: “BECAUSE OF A NEW EXCHANGE RATE!!!” BY FRANK26, 5 FEB
“BECAUSE OF A NEW EXCHANGE RATE!!!”………..F26
Planning: The current year will witness an improvement in average per capita income
1/30/2024
Baghdad: The mainstay of the emirate
The Ministry of Planning confirmed that the average per capita income last year amounted to 7-8 million dinars, and that there is a discrepancy in income rates for many segments of society, noting that oil prices contributed to the rise in the average per capita income, which is calculated after dividing the gross product.
On the population, while it is expected that the average per capita income for the current year 2024 will witness a noticeable improvement, especially after the government’s great direction in supporting the social protection program, the ration card, and providing services to citizens.
In a way that confirms an improvement in the national economy, the Ministry of Planning stated that the actions of the government and the Central Bank of Iraq contributed to the decline and stability of inflation indicators and a decline in their rates during the last two years, as the inflation rate was (6 percent) in the year 2021, and decreased in the year 2022 to ( 5 percent) and then in the year 2023 the inflation rate was 4.4, meaning less than 4 and a half percent.”
The official spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, said that the average per capita income is extracted and calculated by dividing the volume of revenues or resources that the country obtains by the number of population. Thus, we are talking about a rate or average annual per capita income ranging between 7 to 8 million dinars per capita during the past year 2023, pointing out that this improvement in the level of per capita income came as a result of improved oil sales and increased prices, and thus the country achieved good financial revenues. Al-Hindawi pointed out that The per capita income, which amounts to 7 to 8 million dinars, does not include the entire population, as the individual does not receive the same income or equally. Rather, there is certainly a discrepancy between one group and another and between one segment and another, according to many factors, and that there are segments whose average annual income may be 3 million or five million dinars.
There are segments whose annual income is 10 million dinars, or perhaps their annual income is 20 million dinars annually, indicating that the discrepancy in these numbers comes as a result of the nature of the work and the academic achievement certificate of the individual, who may also work in more than one job, as a result of which his annual income increases or decreases according to these factors, indicating Until the improvement in income rates also depends on the level of services that the individual receives, including water, electricity, sanitation, transportation methods, and other requirements. LINK
Al-Sudani to an Iranian official: We do not show courtesy at the expense of Iraq’s sovereignty, 5 FEB
Al-Sudani to an Iranian official: We do not show courtesy at the expense of Iraq’s sovereignty
Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani affirmed, on Monday, that there is no courtesy with any party at the expense of Iraq’s sovereignty, reiterating his rejection of any unilateral actions undertaken by any country, while stressing the Iraqi government’s keenness to establish relations on the principle of good neighbourliness.
The Sudanese media office said in a statement received by Shafaq News Agency, “The latter received today the Secretary-General of the Iranian Supreme National Security Council, Ali Akbar Ahmadian,” and stressed during the meeting, “Iraq rejects any unilateral actions undertaken by any country, in contravention of international principles based on respect.” mutual sovereignty.
He pointed out that “the Iraqi government has proven its keenness on the principle of good neighborliness and establishing the best relations with the countries of the region and the countries of the world, but at the same time it does not show complacency at the expense of Iraq’s sovereignty and security.”
Al-Sudani pointed out that “Iraq has made, and is still making, great efforts to maintain stability and achieve calm, in the common interest of the various peoples of the region.”
For his part, the Secretary-General of the Iranian Supreme National Security Council stressed, “His country’s commitment to Iraq’s security and stability, and its keenness to continue working in accordance with the joint security agreement between Iraq and Iran in a way that preserves the security of the two neighboring countries.”
Last month, the Iranian Revolutionary Guard launched a violent missile attack targeting civilian areas in Erbil, which led to 10 civilians being killed or wounded.
The Federal Prime Minister, Muhammad Shiaa Al-Sudani at the time, ordered the formation of an investigative committee consisting of five figures, headed by National Security Advisor Qasim Al-Araji, to investigate the incident.
Al-Sudani also described the bombing as a “clear act of aggression,” stressing his government’s intention to take “legal and diplomatic measures.”
The Revolutionary Guard claimed responsibility for the strikes that targeted Erbil, and said in a statement that they came “in response to the crimes of the Zionist regime against the Islamic Republic.”
shafaq.com
"ANALYSIS OF IRAQ NEWS: “NO IT’S MUCH MORE THAN THAT!!! THAT’S WHY YOU HAVE A NEW EXCHANGE RATE COMING”" BY FRANK26, 5 FEB
“NO IT’S MUCH MORE THAN THAT!!! THAT’S WHY YOU HAVE A NEW EXCHANGE RATE COMING”
It may rise to 206 trillion dinars.. The Finance Committee reveals the latest developments in the 2024 budget
2/1/2024 Baghdad
Today, Thursday (February 1, 2024), the Parliamentary Finance Committee revealed the latest developments in the financial budget for the year 2024, while indicating that it will rise to 206 trillion dinars instead of 199 trillion dinars.
Committee member Mustafa Al-Karaawi told the official agency, “Article 77/Second of the Tripartite Federal Budget Law for the years 2023, 2024, and 2025 stipulates that the House of Representatives will be provided with updated tables for the 2024 budget in order to discuss the file of increase or decrease in the file of financial allocations according to expected revenues and according to the price of oil.” Installer”.
He added, “The schedules are still being prepared in the Council of Ministers in preparation for approval, and the House of Representatives will begin discussing the budget after it arrives from the government. We believe that transmission must be accelerated because the delay may restrict the disbursement of operational and investment budgets in the coming days,” noting, “Disbursement is now limited to salaries.” employees and their benefits directly.”
Al-Karaawi stressed that “the issue of updating the tables depends on the oil market and the quantities exported, on the basis of which the expected revenues will be calculated, and it is based on the size of expenditures and the percentage of the deficit, “pointing out that “there is a point of view that occurred in the 2023 budget according to the quantities that were spent and how to deal with it.” The deficit and revenues achieved, and it is assumed that there will be a growth in expenditures given that there is a growth in the operating budget, and there are contracts concluded in 2023 that have not been disbursed yet and must be added in the next budget “
Regarding the appointments, he explained that they “may include contracts, firsts, holders of advanced degrees, and governorate contracts for the 150,000 degrees that have not been implemented yet and which have been transferred to the 2024 budget.”
He pointed out that “the committee developed a proactive plan by conducting field visits to the ministries that are in direct contact with the citizen, starting with the Ministry of Health and then the Ministry of Construction and Housing to see the percentage of budget completion for each ministry at the operational and investment levels, to know the efficiency of spending.” Actual, given that performance evaluation depends on the extent to which the expected percentage matches the actual achievement.”
A member of Parliamentary Finance stated, “The committee found that there are many items that have not been funded in the Ministry of Construction and Housing, for which more than two trillion and 200 million dinars were supposed to be allocated, but about 60 percent of them are funded. This means that the government has committed itself.” With a budget greater than the possibility of implementing it.”
Al-Karaawi called on the government to “avoid this in the 2024 budget to complete the projects, infrastructure and development projects it has started,” pointing out that “there is relative progress on the issue of performance, but there needs to be a well -thought-out plan to complete what has been started so that it is clear to the public.” “For real.”
He stated, “The actual outcome of the 2023 budget is that the total revenues were 134 trillion, excluding the region’s oil imports, at an oil price of $70 per barrel,” expecting that “the same price will be repeated in the 2024 budget, and therefore the revenue estimates may be the same, given that the prices are “The world is approaching last year’s numbers.”
He pointed out that “the total volume of expenditures achieved is 154 trillion after adding 7 trillion dinars as allocations to the budget, so its total amount will rise from 199 trillion to 206 trillion dinars.”
He stressed, “According to an article in the budget, the Council of Ministers has the right to add amounts to the 2024 budget to cover the deficit or needs in the areas of electricity, trade, and others.” LINK
