Prime Minister Mohammed Shia Al-Sudani received today, Sunday, the Italian Ambassador to Iraq, Nicolo Fontana, where His Excellency congratulated him on assuming his new duties, wishing him success in his work.
During the meeting, they discussed bilateral relations between the two countries and support for joint cooperation in various fields and sectors. The meeting also addressed developments in the region, especially the events in Syria and the ceasefire file in both Gaza and Lebanon.
The Italian Ambassador renewed the invitation to the Prime Minister to visit Italy and work on signing a strategic agreement between the two countries, similar to the two agreements signed by Iraq with France and the United Kingdom. LINK
As part of its war on counterfeiting, Iraq enhances the security of its currency with improved marks and printing new banknotes
(yes they will not show you the lower denom new notes if they were talking about them)
ترف عراقي
@tarafiraqi
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ضمن حـ.ـربـه على الـ.ـتـ.ـزوير.. العراق يعزز أمن عملته بعلامات محسنة وطباعة أوراق نقدية جديدة
#ترف_عراقي#العراق#بغداد#عراقيين#عراقي#أخبار_العراق#العملة_العراقية#الدينار_العراقي#عملات#البنك_المركزي_العراقي
Shafaq News publishes the first amendment to the budget law for the years 2023-2025
2/2/2025
Shafaq News Agency publishes the text of the first amendment to the Iraqi state general budget law for the years 2023-2025, which was voted on by the Council of Representatives in today's session, Sunday.
The Iraqi Council of Representatives held its fourth session of the first legislative term of the fourth legislative year this evening, Sunday, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi, with the attendance of 176 representatives, and the boycott of about 50 representatives.
Another_Mailman:I believe that today was the last big hurdle that needed to be settled! Imo, the budget was already "read" the necessary amount of times and should be passed within a week. Superbowl Sunday would be great, IMO!
Clare: THIS IS A MAJOR BREAKTHROUGH IMO. IT IS WHAT SUDANI WANTED AND HE MADE SURE IT HAPPENED TODAY! (THAT'S WHY HE HAD THOSE MEETINGS FRIDAY NIGHT.) IMO THIS IS GOOD FOR US!
This is not good news...Well known Iraqi economist Nabil Jaafar Al-Marsoumi...has warned that US pressure to lower oil prices could...lead to a devaluation of the Iraqi dinar...
[He] explained in a Facebook post that US president Donald Trump has pushed for Saudi Arabia and OPEC to lower oil prices.
This move is intended to make energy more affordable and accelerate the end to the Russia Ukraine war. As a result, OPEC plus is expected to end production cuts of 4.65 million barrels within the next few weeks.
This decision will likely cause oil prices to drop...A drop in oil prices to $60 per barrel would create serious financial challenges...If oil prices fall further to $50 per barrel Iraq may have no choice but to devalue its currency...Stay tuned and stay positive..
Iraqi Parliament Approves First Amendment to General Budget Law for 2023-2025
2/2/2025
TheIraqi Parliament voted, on Sunday, on the draft law of the firstamendment to the Federal General Budget Law of the Republic of Iraq forthe fiscal years (2023 - 2024 - 2025) No. (13) of 2023.
Forhis part, independent MP Ahmed Majeed announced in a statement toShafaq News Agency that members of the House of Representatives from thecentral and southern governorates boycotted the parliament session heldtoday, considering that voting on the budget is "a violation of the lawand the internal regulations of the council due to the lack of a legalquorum."
Majeedexplained that "the number of representatives present does not exceed 140 representatives, which means that the quorum is not achieved," stressing that they doubt the legitimacy of the session.
Headded: "We will file an appeal with the Federal Court against the Houseof Representatives for violating the law and proceeding with the voteon amending the budget law."
TheIraqi Council of Representatives held its fourth session of the firstlegislative term of the fourth legislative year a short while ago, headed by the First Deputy Speaker of the Council, Mohsen Al-Mandalawi
, with the attendance of 176 representatives, and the boycott of about 50representatives.
Aparliamentary source told Shafaq News Agency, "The representatives ofthe Central and Southern Front boycotted the session in protest againstthe amendment of the budget law. The number of representatives of the Front is about 50 representatives, most of whom are independents."
Therepresentative of the Central and Southern Front, Raed Al-Maliki, saidduring a press conference held in the parliament building with theparticipation of the representatives and attended by a Shafaq NewsAgency correspondent, "We are a group of representatives from thecentral and southern governorates who boycotted the parliament sessionon Sunday because of the paragraph amending the budget law."
Al-Malikiadded, "We requested that there be a joint administration with theregional government, and that companies be obligated to reviewcontracts, and that other articles be reviewed, including Article 14 ofthe budget law, in addition to other articles and the deficit in thebudget law."
Hestressed, "Our demands relate to implementing the rights of the centraland southern governorates and financing the government contractingexpenses of companies contracting with local governments."
ParliamentSpeaker Mahmoud Al-Mashhadani, who is currently visiting the Iraniancapital Tehran, announced before his departure that Parliament willapprove today, Sunday, amending the general budget in accordance withthe text sent by the Council of Ministers.
Earliertoday, the Coordination Framework, which brings together Shiitepolitical forces, revealed the existence of a political agreement topass the amendment to the budget law during the session of the Iraqiparliament scheduled to be held today.
Therepresentative of the framework, Mohammed Radhi, told Shafaq NewsAgency, "There is a political agreement to pass the amendment to thebudget law during today's session, as the text of the amendment wasmentioned by the Iraqi government. There is a political andparliamentary will and desire to support the government's steps toresolve the differences with the region."
Radiadded, "The agreement to pass the amendment to the budget law came inorder to push the government to expedite sending the 2025 budgetschedules, as no one wants to disrupt this budget, to preventobstructing the construction and reconstruction process, and launchingmany strategic and important projects during this year."
TheFinance Committee of the Iraqi Council of Representatives announcedyesterday, Saturday, that the Council of Representatives will vote intoday’s session, Sunday, on the government’s proposal to amend Article 12 of the General Budget Law.
Thedraft amendment to Article 12 of the Budget Law includes twoparagraphs, the first of which relates to the costs of producing andtransporting the Kurdistan Region’s oil after determining the actualestimated costs through the advisory body.”
Asfor the second paragraph, it stipulates that if the federal andregional governments do not agree on the costs of production andtransportation, the Ministry of Oil shall choose a party to determinethose costs, and as a result the cost of extracting oil from the oilfields in the region shall be calculated.
In June 2023, the Iraqi Parliament voted on the draft general budget law for the fiscal years (2023, 2024, 2025).LINK
