Iraq an economic Study

Mr. Ammar al-Hakim assured the Minister of Finance of the need for economic reforms
by Walter
Editorial date: 2019/4/21 20:40



[Baghdad: Al-Furat News} The head of the Coalition for Reform and Reconstruction, Mr. Ammar al-Hakim, assured the Minister of Finance Fouad Hussein, the need for economic reforms.

A statement of his office received the agency {Euphrates News} a copy of it, that Hussein reviewed during the meeting "the results of his regional and international tour, and discussed the latest political and financial situation in Iraq and the mechanisms of implementation of the government program."

Mr. Ammar al-Hakim stressed "the need to carry out economic reforms that will make the Iraqi economy a stable economy through the diversification of sources of income and encourage national industry and adopt a balanced financial policy consistent with the priorities of the current and upcoming phase of the advancement of service and development in the country."

[link to alforatnews.com]

Expert: Iraq is about to make a major economic change on one condition
by Walter
Editorial date: 2019/4/25 21:01



(Baghdad: Al-Furat News) Economic expert Safwan Qusay, that Iraq is about to change a large economy in the event of survival in the area of stability.

He said Qusay {for the Euphrates News} that "the current government is trying to be a stable area of Iraq and has recently become a breeding ground for foreign investment after the security of the security," noting that "the real investment if not entered into the legitimacy will lose the opportunity available, and Iraq has a huge untapped energy on Level of all sectors ".

He added that "Iraq's openness to the Arab system, especially that the power of this system has enormous financial capacity, there are more than 700 million dollars surplus in Saudi Arabia and the Gulf countries, an attempt to diversify the sources of funding to discuss various employment opportunities to absorb unemployment."

"If the government succeeds in staying in the stability zone, we will see a significant change in the scope of projects," Qusay said.

As for tribal conflicts and their impact on investment in Basra, the economist said: "Recently, we have seen the expression of the self in an illegal manner, the problems may be small and do not cause concern. Basra is the economic capital of Iraq," adding that " Especially if the province is affected by any stability reflected on investors may be withdrawn from investment. "

"The current conflicts in Basra are not currently a concern for investment, which is supposed to put an end to such conflicts and avoid giving an inaccurate impression on the province and its people."

"The way of thinking has changed by mobilizing savings through private and public banks, but this is not enough to assume direct investment with countries, especially in the regional environment," he said. "Iraq is the axis of convergence of international interests. And the major countries seeking internal investment, and what we need to start we have to restore infrastructure through investment. "

a rate of a firm penny (0.01) would be an 8.9% profit for us

For the love of God(literally) just let it goooooooooo international already

Would have thought what with all the talk about

Fed chair going to gold bugs like Steven Moore or Herman Cain

Would be music to dinar holders ears

Even herd bill Maher and Grover Norquist talking up a commodity backed dollar on realtime this week

These are the most positive signs ive seen in 10yrs

Bank of Baghdad: The Central Bank of Iraq has succeeded in strengthening the pillars of monetary stability
by Walter


Bank of Baghdad logo. "Internet"

Banks

Economy News Baghdad:

The Chairman of the Board of Directors of the Bank of Baghdad, Essam Ismail Sharif, that the Central Bank of Iraq has succeeded in strengthening the pillars of monetary stability in spite of the circumstances experienced by Iraq.

"In 2018, the Central Bank of Iraq, through its strategy of managing monetary policy and strengthening the pillars of monetary stability despite the circumstances in which the country was going through, succeeded in overcoming these conditions," Sharif said in his annual report issued by the Bank of Baghdad. While maintaining the exchange rate of the dinar to the dollar within the parallel market prices. "

He stressed that "the Central Bank continued to provide short and medium-term credit lines to finance the economic sectors, including small and medium-sized enterprises within the preferential interest rate, and in the liquidity side work to pay part of restricted cash with its branches in Sulaymaniyah and Arbil to Iraqi banks."

He continued his leadership role in the development of electronic payment methods and the process of settling salaries in Iraq, and on the technical side issued the Central Bank of Iraq instructions for the application of capital adequacy according to the Basel III standard, which began to be applied experimentally on the data of the third quarter and fourth and will be adopted from the year 2019 ".

He pointed out that "the Iraqi economy is expected to achieve growth of 6.5% during the year 2019, in light of improved macroeconomic factors and the deficit of the general budget of the state and the need for the country to reconstruction projects of infrastructure."

He pointed out that "Bank of Baghdad has been able to grow its financial position and size of customer deposits and to achieve a part of the qualitative and quantitative achievements at the administrative and organizational level and maintain liquidity and improve the quality of assets, which will maintain its position within the Iraqi banking sector," explaining that "the capital adequacy ratio reached 127% Which exceed the indicators of global requirements and the Central Bank of Iraq.

He pointed out that "to meet the requirements of customers at the bank has re-completed the spread of its distribution channels and develop, whether opening branches at their new sites and start rehabilitation of the branches of Mosul and Tikrit and Anbar to be within the branches operating in 2019 in addition to the expansion of electronic distribution channels in terms of exchange, A cashier and is planned to reach 62 cashiers. "

Arab Monetary Fund: Access to banking services for all citizens will contribute to economic development
by Walter
Banks

Economy News _ Baghdad

The Arab Monetary Fund and the Board of Governors of Central Banks and Arab Monetary Institutions called on Sunday to support the access of all sectors of the society to financial and banking services, pointing out that the access of banking services to all citizens will contribute to economic development.

"The issue of enhancing access and use of financial services in the Arab countries is of great interest to the Board of Governors of Central Banks and Arab Monetary Institutions," the IMF said in a statement received by Al-Iktissad News. "Recognizing the potential and substantial opportunities it can achieve by enhancing financial inclusion To support comprehensive and sustainable economic development and to meet the challenges of unemployment and social justice. "

He pointed out that "the Board of Governors of Central Banks and Arab Monetary Institutions in 2016 initiated in light of the increasing need to intensify awareness of the importance of financial coverage and its contacts with all parties in the Arab countries, and the adoption of April 27 of each year as an Arab day for financial inclusion, which is celebrated under the slogan" Financial support for sustainable development, "the
statement said. The Council supported the efforts of the international community to enhance financial inclusion and its commitment to achieving sustainable development, particularly the G20, which adopted the focus of financial inclusion as one of the main axes of the economic and financial development program.

He added that "the Council is keen on the issues of financial inclusion in the Arab countries of the importance it deserves, where it launched several regional activities and initiatives to enhance financial inclusion in the Arab countries (FIARI) to enable and strengthen capabilities and possibilities to overcome the obstacles to improve the indicators of financial inclusion in countries Arabic".

The Council appreciated the steps and measures taken by the Arab countries to promote financial inclusion and the need to integrate all segments of society and its sectors into the formal financial system, especially youth, women and entrepreneurs.

[link to economy-news.net]

A senior delegation from the region is visiting Baghdad
by Walter
Release date: 2019/4/28 22:01
A senior delegation from the region is visiting Baghdad
Baghdad: The Minister of Planning in the Kurdistan Regional Government, said today's meeting between the two delegations of the region and Baghdad has been very successful in many areas and next week will visit a delegation from the Kurdistan region to Baghdad for permission to import from Baghdad.
A senior delegation from the federal government arrived in Erbil on Sunday.
Deputy Speaker of the House of Representatives Bashir Al Haddad said that the delegation included ministers of "Industry, Planning, Trade, Culture, Chairman of the Investment Authority and Governor of the Central Bank."
He added that "the goal of the visit is to find a mechanism to resolve the outstanding problems between Erbil and Baghdad."
"The meeting was successful and the two sides agreed in many areas," the Kurdistan Regional Government's KRG minister of planning and industry minister told a joint news conference.
"The aim of today's meeting is the participation of the provincial government to organize the work and activities of the two governments, as well as the coordination and facilitation of trade affairs between the region and Baghdad in a number of areas," Ali Sindi, minister of planning in the region.
He explained that "the Jalal of the meeting discussed the issue of permission to establish factories and export products easily to Baghdad and other Iraqi provinces and for the purpose of import permission, will visit a delegation from the Kurdistan region next week to Baghdad.
For his part, Mohammed Hashim, Minister of Trade in the federal government during the conference, said that "during the meeting, the issue of customs points, devices and goods that are imported with the issuance of an agricultural newspaper for the import of agricultural products."
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IRAQ TO BECOME WORLD’S FOURTH-LARGEST OIL PRODUCER, SAYS IEA REPORT
by Walter

Iraq, April 28, 2019

SULAIMANI — The International Energy Agency has said that Iraq is likely to become the fourth-largest oil producer in the world.

The IEA released the report, titled “Iraq’s Energy Sector: A Roadmap to a Brighter Future,” on Thursday (April 25).

The 59-page document provides a survey of the challenges to Iraq's energy sector, discusses its proposects for growth over the next decade, and offers a series of recommendations.

“Despite the extraordinary challenges of war in recent years, Iraq has made impressive gains, nearly doubling the country’s oil production over the past decade,” the report said.

“But the turmoil has also undermined the country’s ability to maintain and invest in its power infrastructure.”

The IEA predicted that oil production in Iraq would increase by 1.3 million barrels per day (bpd) by 2030.

This would result in it becoming the world’s fourth-largest oil producer behind the United States, Saudi Arabia, and Russia.

IEA’s Executive Director Fatih Birol presented the study’s findings and recommendations to President Barham Salih during a meeting on Wednesday, according to the IEA.

Birol also met with Iraqi Prime Minister Adil Abdul Mahdi and discussed ways to grow the energy sector, including making “best use of Iraq’s significant natural gas and solar resources.”

“In addition to oil, Iraq is blessed with some of the richest solar and gas resources in the world, but it is yet to take advantage of them. Turning that potential into fuel for its own economy and for export would help bring about a more sustainable, reliable and affordable energy future,” the IEA quoted Birol as saying.

Iraq is producing below its maximum capacity of nearly 5 million bpd in line with a production-cutting agreement between OPEC and allies such as Russia in order to support the global price of oil.

Iraqi Oil Minister Thamer Ghadhban said on Thursday that Iraq had the capacity to increase its oil production to 6 million barrels per day if needed, but it was committed to OPEC-led output cuts and would not take unilateral action to boost supply.

Nrttv

iraqdailyjournal.com/story-z18866243

Startups in Iraq “to Multiply Rapidly”
by Walter


25th April 2019 in Investment, Iraq Banking & Finance News, Iraq Industry & Trade News
Top Mountain LLC hosted the first annual Business Canvas Erbil conference which was attended by 120 participants and took place in the Dedeman hotel.

The conference was funded by the European Union and German Federal Ministry for Economic Cooperation and Development through GIZ.

The event was also sponsored by GroFin Iraq, a financing organization that provides loans of up to $2 million to SMEs in Iraq.

The goal of the conference was to inform the audience about the future of economic development in the Kurdistan Region and promote the services of Top Mountain Business Incubator.

Throughout the conference, speakers and panelists reviewed the challenges and opportunities related to the job market and entrepreneurship.

During his presentation on the future of the startup ecosystem in Iraq, one of the Co-founders of Top Mountain explained that within the next few years startups in Iraq will begin to rapidly multiply and grow as financing and technical skills become more widely available.

This predication is based on the rapid growth in startups that has occurred throughout the MENA region over the last 3 years. Some of the key conclusions reached by panelist and speakers are that companies in Iraq must expand their internship programs to help train the next generation of skilled workers.

Panelists also noted that lack of access to finance is the most critical challenge to SME growth. Despite the challenges facing businesses in Iraq, most of the attendees and panelists remain optimistic and anticipate a bright future for Iraq’s economy.

(Source: Top Mountain LLC)
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[link to www.iraq-businessnews.com]

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Russia is the worlds largest oil producer...But their currency is of a very low value.

Merkel stresses the sovereignty of Iraq .. Abdul Mahdi: The coming period will witness great international openness
April 30, 2019 Walter

Political | 5:19 – 30/04/2019

Merkel: We affirm Iraq’s sovereignty and territorial integrity

[link to www.mawazin.net (secure)]


Also is this the day when they vote on the Financial Administration Law that was postponed a few weeks ago ??

Halabousi calls on large Indian companies to invest in Iraq
May 1, 2019 Walter



Baghdad:
The speaker of the House of Representatives Mohammed Halbusi, on Wednesday, the large Indian companies in the areas of housing, technology and health to invest in Iraq.
“The Speaker of the House of Representatives received today the Ambassador of the Republic of India to Iraq, Pradip Singh Raj Boruhith, during which they discussed the bilateral relations between the two countries in all fields, including parliamentary relations,” Halaboussi said in a statement.
The Speaker of the House of Representatives, during the meeting, “the need to encourage large Indian companies to invest in Iraq in the areas of housing, technology and health,” praising “the cooperation of the Indian government in granting visas to Iraqis.”
For his part, the Indian ambassador expressed his country’s readiness to increase cooperation with Iraq, praising the development of the democratic experiment in the country.
He expressed “India’s readiness to provide expertise in all areas, and expand the participation of Iraqis in training courses in all disciplines.”

[link to translate.googleusercontent.com (secure)]

Jordanian Parliament Speaker: The coming days will see a boom in Iraqi-Jordanian relations
May 1, 2019 Walter


Editorial date: 01/16/2019 17:09

[link to alforatnews.com]

I just love hearing that word "international"

Foreign Ministry outlines the multi-disciplinary strategic cooperation agreement with France {expanded}
by Walter


Editorial Date: 2/5/2016 23:53
Foreign Ministry outlines the multi-disciplinary strategic cooperation agreement with France {expanded}
(Baghdad: Al-Furat News) Foreign Minister Mohammed Ali al-Hakim and his French counterpart Jean-Yves Laudrian agreed on a multidisciplinary strategic cooperation document between Baghdad and Paris and put in place practical mechanisms to implement it.
This comes within the framework of the two countries' keenness to push bilateral relations to a wider horizons in line with the aspirations of the two friendly peoples.
The document aims at "enforcing the main axes of bilateral cooperation at the level of political consultations, enhancing diplomatic exchanges, developing institutional cooperation in the field of governance, military and security cooperation, developing specialized training programs and appropriate counter-terrorism efforts and contributing to the development of The establishment of economic partnerships and trade exchanges, which confirms the determination of the two sides to push the cooperation relations in all areas; to rise to the level of ambition of the two countries.
Al-Hakim expressed Baghdad's desire to activate cooperation with France and to reaffirm the joint commitment between the two countries
[link to alforatnews.com]

Hussein, with the Chinese ambassador, to re-activate the road to ensure the movement of goods easily
by Walter


Release date: 2019/4/29 18:57
Hussein, with the Chinese ambassador, to re-activate the road to ensure the movement of goods easily
The Deputy Prime Minister for Economic Affairs and Minister of Finance Fuad Hussein discussed the re-activation of the Belt Road to ensure easy transport of goods between the countries of the region during his meeting with Chinese Fiancist Zanq Tao and his accompanying delegation.
"The deputy prime minister congratulated Tao on the occasion of his new position as ambassador of the People's Republic of China in Iraq," a statement from Hussein's media office said.
"During the meeting, they exchanged views on strengthening economic relations and developing trade balance between Iraq and China," the statement said.
"Zank Tao stressed the keenness of his country and Chinese companies and businessmen to participate in the reconstruction and construction campaigns and provide the necessary assistance to ensure oil for investment," the statement added.
The statement added that "the two sides discussed the importance of re-activating the road belt, what was called the Silk Road to ensure the smooth movement of goods and goods between the countries of the region."

He also reviewed the work of Chinese companies in Iraq and some obstacles to their work and the two sides discussed solutions to overcome these obstacles.
The meeting was attended by the Political Advisor, the Commercial and Political Attachés of the Embassy and the Advisor to the Committee on Economic Affairs. is over
[link to alforatnews.com]

Macaron announces the ambitions of France in Iraq .. And Abdul-Mahdi: The situation in Iraq is developing positively
by Walter

Editorial date: 2019/5/3 14:41 •

"Our common ambitions with Iraq include the reconstruction of Mosul and we will contribute to that," French President Emmanuel Macaron said.

"The stability of Iraq and the region is important to us and we want Iraq to gain security and be a model for countries in transition," McCron said at a joint news conference with Prime Minister Adel Abdul Mahdi.

"We will invest in the reconstruction of Iraq in the sectors of transport, energy and agriculture," he said. "The stability of Iraq and the region is important to us and we want Iraq to gain security and be a model for countries in transition."

For his part, Abdul Mahdi, said that "a supporter seeks to return by all means and the speech of the leader of Abu Bakr al-Baghdadi, the latter refers to it," pointing out that "we fought with France and urged the elimination of a supporter on the ground, but still exists."

He noted that "

"We agreed to raise the level of cooperation with France. We discussed the border with Syria and the numbers of refugees and foreign fighters. We agreed on very important visions and found full interaction on the French side," he said.

"The current government is based on the independence of the members of the formation from the prime minister and the ministers, and the candidates are nominated by the political forces. The government's work focuses on construction, reconstruction and economy," he said. "The situation in Iraq is developing positively."

"We preempt terrorist acts through our intelligence work to dismantle sleeper cells and thwart operations that try to re-establish their former position," he said. "Unity among all Iraqi political forces is important, and not for victory."

He pointed out that Abdul Mahdi "

The situation in Iraq is developing positively with the improvement of the security situation against the background of the unity of the political parties, "declaring" the opening of a French cultural attaché in Mosul. "

[link to alforatnews.com]

The International Monetary Fund recommends Iraq to follow these steps to reform the financial structure
by Walter

Economie

11:51

BAGHDAD / The

head of the International Monetary Fund's mission to Iraq, Gavin Gray, on Tuesday recommended a number of key reforms Iraq must follow to reform the financial structure.

"The first of these reforms is public sector wages that can ease short-term spending pressures through compensation measures, such as setting allowances, bonuses and other non-core payments, and not replacing retirees in full," Gray said in a statement. "He said.

[link to www.alghadpress.com (secure)]

This cannot bode well for an RV.


Pompeo in Baghdad on unannounced visit: Iraq govt source
by Walter


Iraq
By AFP minute ago
US Secretary of State Mike Pompeo takes part in the 11th Ministerial Meeting of the Arctic Council in Rovaniemi, Finland on May 7, 2019. Photo: Mandel Ngan/AFP/pool
US Secretary of State Mike Pompeo takes part in the 11th Ministerial Meeting of the Arctic Council in Rovaniemi, Finland on May 7, 2019. Photo: Mandel Ngan/AFP/pool

BAGHDAD - US Secretary of State Mike Pompeo landed in Baghdad late Tuesday on an unannounced visit, an Iraqi government source told AFP, cancelling a trip to Germany amid escalating US-Iran tensions.

The source, speaking on condition of anonymity because of the high security nature of the visit, said Pompeo was set to meet Iraqi Prime Minister Adel Abdel-Mahdi.

The visit comes two days after the US announced it was dispatching an aircraft carrier strike group and bomber task force to the Middle East to send a "clear and unmistakeable" message to Iran.

National Security Advisor John Bolton said the deployment was in response to a "number of troubling and escalatory indications and warnings," but did not elaborate.

"The United States is not seeking war with the Iranian regime, but we are fully prepared to respond to any attack, whether by proxy, the Islamic Revolutionary Guard Corps, or regular Iranian forces," he said.

Pompeo had been en route to Germany but suddenly cancelled the trip due to "pressing issues," the State Department said, without elaborating where he was heading.

But in response to a question about threats from Iran or its proxies on US forces in Iraq, the top US diplomat mentioned both Iraq and Jordan.

"As Secretary of State I have a responsibility to keep the officers that work for me safe each and every day all around the world. That includes in Erbil and Baghdad, in our facilities in Amman, all around the Middle East," he said.

"And so any time we receive threat reporting, things that raise concerns, we do everything... that we can to make sure that those planned or contemplated attacks don't take place, and to make sure that we've got the right security posture," he said.

Pompeo had been traveling from Finland, where he had attended a meeting of the Arctic Council.

He was due to meet both Chancellor Angela Merkel and Foreign Minister Heiko Maas later Tuesday in Germany.
[link to www.rudaw.net]

IMF completes Article IV consultations on Iraq
by Walter

A team from the International Monetary Fund, headed by Gavin Gray , visited the Jordanian capital of Amman from 25 April to 2 May, with the aim of holding discussions with the Iraqi authorities in the context of Article IV consultations , For 2019.

At the end of the visit, according to a statement by the IMF, Gray said the end of the war on a buoyant organization and the resurgence of oil prices offer an opportunity to rebuild Iraq and overcome long-standing socio-economic problems.

"But the challenges to achieving these goals are enormous, the pace of economic recovery is still slow, reconstruction is very limited after the war is over, and the large current spending increases risk, putting public funds and central bank reserves on track Its continuity can not be sustained.

Anti-corruption was very important to enhance the effectiveness of public institutions, to support investment efforts and to create employment by the private sector .

"In the short term, the short-term weakness is reversed in 2018, with a surplus in the budget and a build-up in the central bank's reserves," he said.

Non-oil growth is expected to rise to 5.4 percent in 2019 on the back of increased investment spending; however, fiscal deficits are expected to rise in the medium term, requiring funding that could squeeze the private sector or erode the central bank's reserves.

Under these conditions, capital spending may be difficult to sustain, and growth will likely slow considerably .

" Therefore, policy changes and structural reforms - including improved governance - are essential to sustain medium-term economic sustainability and to lay the foundations for inclusive growth," he said .

"The fiscal policy should be based on the gradual expansion of public investment, while at the same time building safety margins," said the head of the mission.

"To find the required space, IFAD staff recommends budget savings of about 9 percent of GDP over the medium term by tightening control over current spending, especially on public sector wages, and taking phased measures to boost revenue Non-oil.

He explained that setting ceilings for current budget spending, starting with the 2020 budget onwards, would enhance the fiscal framework's ability to support a higher volume of investment and adapt to the shocks in oil prices. Major reforms should include :

The containment of public sector wages; short-term spending pressures could be suppressed through compensatory measures, such as a ceiling on allowances, emoluments and other non-wage payments, combined with the enforcement of natural decline in public sector staffing.

Structural measures in the medium term, based on a functional workforce review and deeper reforms in the civil service system, will be necessary once new human resources and information management systems are put in place .

Gray said reforms in the electricity sector were key to addressing poor service quality and cutting high electricity costs in the budget because of low tariff rates, chronic non-payment of electricity bills and poor maintenance .

On the support of public finance management, strengthening the legal framework, improving compliance and other control systems were key factors aimed at minimizing the misuse of public resources and restoring discipline in the budget .

In the financial sector, a strong plan to restructure large-scale public sector banks and the strengthening of bank controls was necessary to ensure financial stability and would help promote financial development and financial coverage.

The strengthening of AML / CFT controls and the strengthening of supervision would help Iraq prevent the misuse of the Iraqi financial sector for the purpose of harvesting criminal proceeds from money laundering and terrorist financing .

He called on the IMF to address the weakness of governance and vulnerabilities that spread through corruption, which he considered a very important factor in achieving the goals described in the policies.

The Fund called for ensuring the independence and integrity of anti-corruption bodies, and the AML / CFT system should be activated to support anti-corruption efforts .

The IMF team will prepare a report, subject to approval by the Administration, and is tentatively scheduled for consideration by the Executive Board of the Fund in July 2019 .

[link to translate.googleusercontent.com (secure)]

The oil minister: near the signing of an agreement with Exxon and PetroChina
by Walter

Economy | 01:14 - 08/05/2019

BAGHDAD -

Oil Minister Thamer al-Ghadhban announced Wednesday that he was close to signing an agreement with Exxon Mobil and PetroChina.

Ghadban said he expected his ministry to sign a "preliminary agreement with ExxonMobil and PetroChina" very soon, "but did not give a specific date."

"We were able to take a step towards resolving some outstanding issues in the deal."

Once the talks are concluded, the preliminary agreement will be examined by a ministerial energy committee before being submitted to the Council of Ministers for approval.

[link to www.mawazin.net (secure)]

Saleh: Iraq is a rich country and the need to activate the private sector
by Walter



(Baghdad: Al-Furat News) President Barham Saleh stressed the need to address the obstacles and problems that hinder the work of the private sector, developing the various sectors to build a strong and cohesive economy.

During his meeting at the Peace Palace in Baghdad on Monday, President Saleh stressed the importance of enhancing the role of the private sector and allowing it to be involved in the process of reconstruction and reconstruction through the provision of economic climates and opportunities. As well as the role of this sector in supporting the government program adopted by the Prime Minister.

He explained that "Iraq is a rich country with human resources and expertise and natural resources that give broad prospects for the private sector," stressing "the need to seek the private sector to establish positive relations with counterparts from brotherly and friendly countries and benefit from their expertise in various fields."

In turn, the President of the Federation explained the activities of the Chambers of Commerce in the provinces and their contribution to the economic movement in the country, appreciating the support of the President of the Republic to the private sector to take its full role.

[link to alforatnews.com]

Iraq is recovering economically … surplus revenues and no deficit so far
by Walter

Economic

The Financial Committee of the Iraqi Council of Representatives, on Friday, the fact that the budget deficit in 2019, the Iraqi state.

"I wrote a report on the budget of 2019, about the first months in terms of revenues and expenses, it turned out that there is a surplus in revenues, it is more than expenses," committee member Magda al-Tamimi said in an interview.

Tamimi said that "Iraq's budget for 2019, do not suffer from a deficit to this moment, and I will publish a report to public opinion, on the financial abundance, owned by the government, and the absence of a real deficit so far."

The House of Representatives, voted on Wednesday (23, January 2019), in the presence of 287 deputies, the Federal Budget Law of the Republic of Iraq for fiscal year 2019.

The revenue of the federal budget for the year 2019 (one hundred and five trillion five hundred and sixty-nine billion six hundred and eighty-six million and eight hundred and seventy thousand dinars) and the calculation of revenues from the export of crude oil at a rate of $ 56 per barrel and an export rate of 38.8 million barrels per day.

The expenditure in the draft law included the allocation of one hundred and thirty-three trillion and one hundred and seven billion six hundred and sixteen million and four hundred and twelve thousand dinars, while the total deficit planned for the federal budget (twenty-seven trillion and five hundred and thirty-seven billion nine hundred and twenty-nine million and five hundred and forty-two thousand Dinar).

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