Ratified the Kurdistan Regional Government of Iraq, Sunday, to balance the region for the current year $ 13 Trliuna and 940 billion dinars, and included a set of 25 thousand new employee on the cadre of this year, as well as reduce the salaries of those with special grades of 10%, and raise the loan amounts marriages increased by 150%. The […]
BAGHDAD / Aswat al-Iraq: The Iraqi Stock Exchange (ISX) opened this week with a 0.9% increase to close at 123.2 points as rates of shares of 26 out of a total 45 traded firms went up, apparently not negatively affected by Friday’s mass protests all over Iraq. “A total 1.406 billion shares worth 2.373 billion Iraqi dinars (roughly $1 million) […]
The Iraqi government has pledged to improve the state-run food aid system in the wake of sporadic protests and long-standing discontent over the quality and targeting of the rations provided. “We are working hard to improve the food ration system this year and to offer it with all [five] items, not just some of them,” Prime Minister Nouri Al-Maliki told […]
The following are some snippets from the most recent issue of the International Forecaster. US MARKETS The world is awash in dollars and that is being reflected in the USDX, which are six major currencies versus the dollar. The loss of value is being loudly trumpeted as the IMF says a replacement must be found. This is the same IMF […]
Iraq is drafting an arbitration law as a step toward accession to an international convention on recognition and enforcement of arbitration awards, RFE/RL’s Radio Free Iraq (RFI) reports. Abdel Sattar al-Beriqdar, a spokesman for Iraq’s High Judicial Council, told RFI that Iraq is keen to join the 1958 New York Convention on international arbitration. He said the country’s first commercial […]
Terror threats appear to be on the rise as FEMA has rushed a $1 Billion order of dehydrated food in the event of attacks on domestic targets in the US. This is also coming on the heels of one of the largest terror drills performed by the US Navy on American soil, as Operation Solid Curtain is taking place this week. […]
Baghdad (News) …First Deputy Governor of Baghdad, Dr. Mohammed Al shammari investing either in Baghdad or across Iraq would solve many problems affecting the country at this time. Said Al-shammari told reporter (News Agency of news) Friday: “investing is a lot of problems and crises affecting the country at this time such as housing, unemployment will be significant employment opportunities which […]
The Iraqi Ministry of Trade and the United States to support Iraq to join the World Trade Organization WTO. The general director of economic relations Hashem, Hatem told the Kurdish news agency (Rn) on Friday that “the Iraqi Ministry of Trade has asked the U.S. embassy in Baghdad need to support the United States to Iraq on accession to the WTO […]
Baghdad – A spokesman for the Iraqi Ministry of Electricity said on Wednesday that an additional 200 megawatts (MW) of electricity will be supplied by Iran through the new Karkha – Amara line. Musab al-Mudarres said that Iran will now deliver a total of 750 MW of electricity. Iraq has been suffering from a severe shortage of electrical power with the […]
As foreign investment increases in Iraqi Kurdistan, cultural boundaries are being broken. While Ling Ling stacks hot and spicy prawn crackers and dried black beans with ginger onto the shelves of, to her, a familiar looking Chinese market, her wider surroundings of northern Iraq are more foreign. Ling, from Anhui province in eastern China, has been managing the shop there for […]
Baghdad – The Iraqi Central Bank (ICB) said Iraq payed the debt of 3,500 commercial creditor at a value of $ 2.7 billion, as a means to protect its money from the manipulation of foreign trading companies. Muzher Mouhammed Saleh, the adviser of the ICB told AKnews that the payment was done according to legal procedures that allow Iraq to pass […]
Iraq is drafting an arbitration law as a step toward accession to an international convention on recognition and enforcement of arbitration awards, RFE/RL’s Radio Free Iraq (RFI) reports. Abdel Sattar al-Beriqdar, a spokesman for Iraq’s High Judicial Council, told RFI that Iraq is keen to join the 1958 New York Convention on international arbitration. He said the country’s first commercial arbitration […]
WASHINGTON : The International Monetary Fund called for a weaker dollar to help the United States reduce its deficits with the rest of the world and re-balance the global economy, in a report released Wednesday. In the report prepared for a Group of 20 finance chiefs meeting last week, the IMF said that its calculations showed the dollar remains “on the […]
Iraq’s government is planning to cut the pay and benefits of top officials by more than half, said Ali Al-Dabbagh, the government spokesman. The government approved a draft law that reduces salaries and sent it to parliament for approval, Dabbagh said in an e- mailed statement today. The money saved will be used for reconstruction projects and to achieve equality in […]
LONDON, leader of the Iraqi bloc held by former Prime Minister Ayad Allawi, in London on political talks, economic and security with a number of British officials. The Iraqi Vice President Tariq al-Hashemi said the peaceful demonstrations in a democratic country like Iraq which is a natural and legitimate way to reform. During a meeting with British Foreign Secretary William Hague […]
Toy guns are illegal in parts of Iraq, but fears persist over their role in a violent culture. As Hussein Ahmed tends his stall in Sulaimaniyah, northern Iraq’s second city, there is an edginess to his behavior. “If it’s illegal there is too much profit. You make 100 per cent profit if it’s illegal and only 15 per cent profit if […]
Iraq has the potential to be one of the worlds largest oil producers given its huge oil resources. Recent news flow suggests that this potential is moving closer to reality. The impact of a rejuvenated Iraqi oil industry could be transformative for both Iraq and global energy security Badr Jafar, Executive Director of the Crescent Group of Companies, explains. In October […]
The private sector in light of the economic transformations taking place in Iraq currently, an active partner and a key role in the process of construction, reconstruction and hoped him to be the real driving force for overall economic activities in Iraq, to take the initiative in all areas of business and finance different, after the year 2003 occurred in the […]
Baghdad – The German company Siemens has reached an agreement with the Iraqi Electricity Ministry to implement the terms of a contract signed in 2008 to set up 16 power generators in difference parts of Iraq. The 16 power stations to be located in the oil and gas-rich Basra and Kirkuk provinces are expected to produce 1,560 MW. The company had […]
BAGHDAD / Aswat al-Iraq: Kuwait’s Oil Minister, Sheikh Ahmed Al-Abdullah, has expressed optimism towards the bilateral relations between Iraq and Kuwait, following an official visit by Iraqi Prime Minister, Nouri al-Maliki to Kuwait last week. “We are optimistic about the bilateral relations between Kuwait and Iraq, but there are still suspended dossiers Maliki had promised to open and settle,” Sheikh Abdullah […]
An amount of 8 billion IQD to be spent on designing 150 km of tramway “Kickoff” for tramway project considered a “big step in the public transportation and infrastructural development in the region.” Kurdistan Regional Government’s (KRG) Ministry of Transportation and Communication signed separate contracts with three international firms to study, plan and design tram way systems for the three major […]
* Iraq budget projects $13.4 billion deficit * OPEC producer looks to oil revenue to repair war damage By Suadad al-Salhy BAGHDAD, (Reuters) – Iraq’s parliament gave final approval on Sunday to an $82.6 billion budget for 2011 based on an average oil price of $76.50 per barrel and 2.2 million barrels per day in crude exports. The deficit was projected […]
Looking at Iraqi agriculture over the past year, relatively abundant rainfall in late 2009 and through the first quarter of 2010 led to bumper 2010 wheat and barley crops. With last year’s domestic wheat harvest at just over 2.5 million metric tons and barley at about 1 million metric tons, these production levels doubled when compared to either the 2008 or […]
Looking at Iraqi agriculture over the past year, relatively abundant rainfall in late 2009 and through the first quarter of 2010 led to bumper 2010 wheat and barley crops. With last year’s domestic wheat harvest at just over 2.5 million metric tons and barley at about 1 million metric tons, these production levels doubled when compared to either the 2008 or 2009 drought-reduced crops.
Searching for space to store its 2010 wheat crop, Iraqi Ministry of Trade tendering for imported wheat dropped off through much of the latter half of the last year. Now, in keeping with regional attempts to make sure staples are in adequate supply, the Ministry of Trade has stepped up tendering for the products that make up its Public Distribution System: Wheat (flour), rice, sugar and vegetable oil.
Of course, like all buyers in the international market and in view of escalating prices since July 2010, Iraq has to pay more to meet its needs. On average, Iraq is typically dependent on wheat imports to meet 60-70% of demand and relies on imported rice to meet about 90% of its needs. And speaking of rice, at a little more than 150,000 metric tons in rough rice production, Iraq’s 2010 harvest is estimated to have grown at least 10% versus 2009 output.
Prospects for 2011 currently suggest a slight reduction in output of wheat and barley in 2011, especially in view of the paucity of rainfall during the wheat/barley planting season, October-December. Moreover, poor quality seed and insufficient fertilizer will continue to limit growth in yields that would otherwise occur.
Ronald P Verdonk is an Agricultural Counselor at the U.S. Embassy in Baghdad. He has extensive experience in the agriculture sector, including placements in a wide range of developing economies.
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