Two factors control fiscal deficit in 2023 budget

  • Time : 2022/12/31 19:26:15
  • Read : 2,145 times

  

(Economy: Euphrates News) The financial adviser to the Prime Minister, Mazhar Mohammed Saleh, revealed on Saturday two factors controlling the fiscal deficit in the 2023 budget.

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Saleh (Al-Furat News) said that “the annual federal budget deficit is seen as a hypothetical or planned deficit and is controlled by the first two factors, estimates of the price of a barrel of oil in the general budget under a stable export capacity.”
“The more the estimate is conservative, the more there are manifestations of deficits on the said budget estimates,” he said.
“Second, the manifestations of hypothetical or estimated deficits increase sharply as spending ceilings increase,” Saleh added.
He continued, “Expansion in total spending in the budget on the one hand and the reservation in the price of a barrel of oil; for the purposes of calculating the revenues of the oil exported from {and what it generates modest revenues}.”
“On the other hand, they cause the default deficit fixed in the estimates of the annual general budget law to widen, and the hypothetical deficit can also turn into a real deficit when the average price of a barrel of oil actually exported is lower than the conservative price estimated in the budget law,” Saleh continued.
The Parliamentary Finance Committee expected the size of the fiscal budget for 2023.
The committee member, Maeen Al-Kazemi (Al-Furat News), said: The price of a barrel of oil in the budget is expected to be calculated from 65-70 dollars, and that its total volume will reach 140 trillion dinars, of which operating expenses are between 65-70% and the rest for the investment side, according to the Ministry of Finance.

From: Raghad Daham

https://alforatnews.iq/news/عاملان-يتحكمان-بالعجز-المالي-في-موازنة-2023

Baghdad and Erbil welcome the new year with a great festive atmosphere: wishes mixed with joy (photos)

The CommunityErbilBaghdadBreakingNew Year Celebrations

2022-12-31 15:00Font

Shafaq News / The federal capital Baghdad and the city of Erbil, the capital of the Kurdistan Region, received the New Year tonight with a festive atmosphere, where hundreds gathered in many public places inside the city.

Hundreds of Baghdad residents gathered on Mutanabbi Street and several squares in the capital, while hundreds of Kurds gathered in front of the historic Erbil Fort in celebrations accompanied by music and songs.

“Last year carried a lot of joyful and sad events for the Kurdistan Region, but we hope that the New Year will be better than before it,” Heimdad Mohammed, who participated in the celebrations in Erbil, told Shafaq News Agency.

“My participation in these celebrations is to express my joy with the coming of the New Year as there are many people gathered near the archaeological castle of Erbil,” he added.

The celebrations witnessed a remarkable presence for tourists coming, mostly from the provinces of central and southern Iraq.

Ahmed Al-Shammari from Baghdad told Shafaq News Agency; “I came to the city of Erbil to spend beautiful times on New Year’s Eve and the celebrations held in the city and there are many facilities provided by local authorities to tourists to enter the Kurdistan Region.”

In turn, Sumaya Karim from the province of Babylon told Shafaq News Agency that “participation in these celebrations we repeat every year, as we visit the city of Erbil on this date because it is characterized by an exceptional atmosphere on New Year’s Eve compared to other regions of Iraq, and this is what drives citizens from different governorates to visit Erbil and enjoy these

Shafaq News lens took pictures from the festive atmosphere near the archaeological castle of Erbil in the city center, where hundreds of citizens attended.

https://shafaq.com/ar/مجتـمع/بغداد-واربيل-تستقبلان-العام-الجديد-ب-جوا-احتفالية-كبيرة-منيات-ممزوجة-بالفرح-صور

Barzani: There is a new opportunity to resolve issues between Baghdad and Erbil

political| ? 12:06 – 31/12/2022

Baghdad – Mawazine News
The head of the Kurdistan Democratic Party, Massoud Barzani, expressed on Saturday his support for the implementation of the political agreement reached between all Iraqi parties participating in the political process and between the Kurdistan Regional Government.

“We believe that there is a new opportunity to resolve issues between the Kurdistan region and the federal government in Iraq,” Barzani said in a statement marking the New Year.

“We support the implementation of the political agreement reached between all Iraqi parties participating in the political process and the Kurdistan Regional Government,” he added. Finished 29/n33

https://mawazin.net/Details.aspx?jimare=215548

Central Bank: We have made a series of decisions to restore the dollar market to normal

  • Time : 2022/12/31 15:22:00
  • Read : 949 times

  

(Economic: Euphrates News) The Central Bank of Iraq said on Saturday that it has taken a series of decisions to restore the dollar market to normal.

“The Governor of the Central Bank of Iraq, Mustafa Ghaleb Surai, conducted a field visit to a number of banks that have started selling foreign currency,” the Media Office of the Central Bank of Iraq said in a statement received by {Euphrates News}.

He added that “Mustafiz urged during his meeting with the departments of banks to facilitate the procedures for selling foreign currency to citizens wishing to obtain it for the purposes of travel, treatment and others,” noting that “the Central Bank of Iraq has taken a number of decisions that contribute to achieving stability in the foreign currency market.”

“Banks’ outlets to sell foreign currency will be doubled to meet the needs of travelers, with the possibility of increasing the amount of the weekly share allocated to banks,” he stressed.

He described that “the rise in the exchange rate is a temporary situation that came after internal and external effects to implement international standards, as the bank succeeded in addressing it and reducing its effects on the Iraqi economy,” stressing not raising public opinion concerns about the rise in dollar exchange rates, and the need to take deterrent measures against speculators,” stressing that “Iraq’s situation is much

https://alforatnews.iq/news/البنك-المركزي-اتخذنا-سلسلة-من-القرارات-لإعادة-سوق-الدولار-إلى-وضعه-الطبيعي

Dollar prices rise in Baghdad and stability in Erbil with the closure of the stock exchange by the end of 2022

EconomyErbilBaghdadBreakingThe Dollar

2022-12-31 07:13Font

Twilight News / Dollar exchange rates rose against the Iraqi dinar, on Saturday, with the closure of the main stock exchange in Baghdad, while settling in Erbil, the capital of the Kurdistan region.

The reporter of the Shafaq News Agency said that the two central Al-Kifah stock exchanges closed in Baghdad at 153,150 Iraqi dinars for 100 dollars.

The dollar exchange rates this morning were 153,000 dinars against 100 dollars. Our correspondent pointed out that the buying and selling prices in the banking shops in the local markets in Baghdad stabilized, where the selling price reached 153500 Iraqi dinars, while the purchase prices amounted to 152500 dinars per 100 dollars, while in Erbil, the dollar also stabilized with the closure of the stock exchange, where the selling price reached 153,100 dinars per 100 dollars,

https://shafaq.com/ar/اقتصـاد/ارتفاع-اسعار-الدولار-في-بغداد-واستقرارها-في-اربيل-مع-اغلاق-البورصة-بنهاية-2022

Nechirvan Barzani: Kurdistan Region is ready for all kinds of cooperation to face challenges and solve Iraq’s problems

PoliticianBreakingNechirvan Barzani

2022-12-31 06:15Font

Shafaq News / The President of the Kurdistan Region, Nechirvan Barzani, renewed on Saturday the readiness of the region to provide full cooperation in facing the challenges and solving the problems facing Iraq.

This came in congratulations on the occasion of New Year, according to a statement issued by the presidency of the region.

“We congratulate the New Year of the majestic families of the martyrs, the heroic Peshmerga, the security forces, all the people of Kurdistan, Iraq and the whole world, hoping that the New Year will be the year of achieving hopes and success, the end of wars, tensions, epidemics and suffering, and that all human safety, security and stability will prevail

He added that “the interests of the people of Kurdistan should be the main goal of all of us, so let us take at the beginning of the new year of unity of class, harmony, cohesion, acceptance of the other and joint cooperation as a new newspaper for relations between political forces and parties and all components of the Kurdistan Region. Let us work together to protect and guarantee constitutional and federal rights and resolve differences with the Iraqi federal government on the basis of the constitution.”

Nechirvan Barzani also reiterated that “the Kurdistan Region performs its common duties and responsibilities, and will remain, as always a safety and stability factor, ready for all types of cooperation in facing challenges and solving the country’s problems in order to achieve security and political and security stability for Iraq and preserve the rights and entitlements of all components of the country.”

“We will work to strengthen our relationship with neighboring countries, the region and friendly and allied countries on the basis of mutual respect and common interests,” he said. We will continue to work together to address the dangers and threats of terrorism and eliminate terrorists. Together, we work to consolidate peace, security and stability.”

“We will work to improve the lives and lives of citizens, further consolidate pluralism, coexistence and tolerance and protect democracy, human rights, equality and freedoms, looking with hope and optimism to the New Year and the future,” the President of the region said. I hope everyone is healthy, good luck, happy and happy.”

https://shafaq.com/ar/سیاسة/نيجيرفان-بارزاني-قليم-كوردستان-مستعد-لكل-صنوف-التعاون-بمواجهة-التحديات-وحل-مشاكل-العراق

Mazhar Mohammed Saleh: The government intends to reduce dependence on oil to 80%

money and business

   


Economy News-Baghdad

The financial adviser to the Prime Minister, Mazhar Mohammed Saleh, on Saturday set two directions for the essential features drawn up by the government curriculum, and while calling for reconsideration of activating the national strategy for the advancement of the private sector, he stressed that the government program addresses the unilateral economy and the dominance of semi-absolute oil.

Saleh told the Iraqi News Agency that “the essential features drawn up by the government curriculum approved by the House of Representatives in October 2022 are going in two directions in the scope of addressing the unilateral economy and the near-absolute dominance of oil over the conduct of economic life in Iraq.”

He added that “the first trend is in the field of public finance, which looks forward to the percentage of the contribution of oil revenues to total public revenues from 93% to 80% gradually, which requires the accuracy and speed of public finances reaching smuggled tax vessels, as well as the availability of policies supporting private activities that contribute to maximizing levels of per capita income and GDP in general

He pointed out that “the second trend is to spread the role of development funds financed by oil revenues effectively, which was indicated by the government program in order to provide easy and encouraging financing for development in activities that the private sector contributes to the advancement of, especially the industrial, service and service, digital and agricultural activity in a way that ensures economic diversification and gradually decommissions the national economy from

He continued: “I believe that it is necessary to reconsider activating the national strategy for the advancement of the private sector adopted years ago to ensure the high contribution of civil activity to GDP and the recovery of the productive private sector from its current state, whose contribution to annual national product does not exceed 35% to become 53% during the stages of economic development, specifically in the current decade, provided that this strategy ensures that unemployment and its rates are reduced from their current levels of two decimal places to become one decimal place at the acceptable natural break of unemployment in Iraq, which does not exceed 3% of the total economically active population or the total planned or desired labor force.”


Views 85

Added 2022/12/31 – 11:20 AM

https://economy-news.net/content.php?id=31610

Central Bank: Ongoing measures to control dollar exchange rate

banks

   


Economy News-Baghdad

Deputy Governor of the Central Bank Ammar Hamid confirmed that the bank is continuing its measures to control the dollar exchange rate.

Hamid said in a press statement that “the Central Bank has taken many measures to control the stability of the exchange rate, including those related to traders and citizens, while citizens, the dollar is sold directly for travel purposes, through banks and using the salary card to obtain a lower rate of 1465.”

He added that “the banks of Rashid and Rafidain launched an initiative to issue a dollar card worth 10,000 dollars at a subsidized price.”


Views 153

Added 2022/12/31 – 12:07 PM

https://economy-news.net/content.php?id=31611

Al-Rasheed allocates 3 branches to issue a MasterCard card for those wishing to buy dollars

local? ? 01:45 – 31/12/2022

Baghdad – Mawazine News
Al-Rasheed Bank announced on Saturday the allocation of three branches to issue a MasterCard card for those wishing to preach the dollar.

The bank said in a statement that “the branches (the main / wanting Khatun / Yarmouk) in Baghdad were assigned to issue a Nakheel card for those wishing to buy the dollar, which was announced days ago and at the exchange rate (1465) dinars per dollar.”

The statement pointed out that “this card is issued for purchase purposes and to all willing citizens who do not have a non-employee credit card.” Finished 29/n33

https://mawazin.net/Details.aspx?jimare=215556

Al-Rafidain: Bank branches will open their doors tomorrow to sell dollars to citizens

Economie| 12:02 – 12/30/2022

Baghdad – Mawazine News
Al-Rafidain Bank announced, on Thursday, that its branches will open their doors tomorrow to sell dollars to citizens.
And the bank stated in a statement, which Mawazine News received a copy of, that it “announces the continuation of the process of selling dollar currency to citizens during holidays for travel purposes, not exceeding 10 thousand US dollars per customer at a price of 1455 dinars per dollar deposited in the Master Card issued by Al-Rafidain Bank and from Through the branches of Palestine Street on the side of Al-Rusafa and the Arab neighborhood in Al-Mansour next to Al-Karkh.
He added, “The branches will open their doors on Friday 12/30/2022, Saturday 12/31/2023, and Sunday 1/1/2023.” Ended 29/h

https://www.mawazin.net/Details.aspx?jimare=215458