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Iraqi Parliament Approves 2021 Budget

By John Lee.

Iraq’s Parliament (House of Representatives) has approved the Federal Budget Law for 2021 on Wednesday night.

The budget is reportedly based on an oil price of $45 per barrel, and oil exports of 3.25 million barrels per day, giving a budget of 129 trillion Iraqi dinars ($89 billion) and a budget deficit of 28.7 trillion trillion Iraqi dinars ($19.79 billion).

The 2021 budget set an oil price of $45 a barrel with expected oil exports of 3.25 million barrels per day.

More here, here, and here.

(Sources: Iraqi Parliament, Bas News, Shafaq, AP)

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COVID-19 and Environmental Sustainability in Iraq

Impact of COVID-19 on Environmental Sustainability in Iraq

Impact of COVID-19 on Environmental Sustainability in Iraq is the fifth in a series released by UNDP on the impact of COVID-19 in Iraq.

It emphasizes how the pandemic has exacerbated Iraq’s environmental fragility, which was already affected by legacies of conflict, lack of significant public sector and governance reforms, loss of development gains and illicit activity such as illegal hunting, fishing and logging, amongst other factors.

It outlines how the virus has led to some negative environmental impacts, such as increased quantities of medical waste, but also positive impacts, such as temporary improvements in air quality and ecosystems. It also proposes how key drivers of fragility can be addressed over time.

Click here to read the full report.

(Source: UN)

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Iraq to buy Chinese COVID Vaccine

By John Lee.

The Iraqi Cabinet held its weekly meeting on Tuesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.

At the start of the meeting, the Prime Minister praised the efforts of state institutions and agencies to ensure the implementation of curfew regulations, and thanked all citizens for adhering to preventative health measures.

Following discussions, the Cabinet agreed to authorise the Ministry of Health to purchase the coronavirus vaccine from the Chinese company Sinopharm.

(Source: Govt of Iraq)

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Coronavirus: Iran to Shut Border with Iraq

Iran’s minister of interior unveiled plans to shut the border with Iraq in the southwestern province of Khuzestan in order to contain a new wave of the coronavirus pandemic.

Speaking to reporters on Saturday, Abdolreza Rahmani Fazli said the Coronavirus Fight National Headquarters has made new decisions to control the coronavirus in Khuzestan province, where the number of COVID-19 cases has risen in recent days.

He said the border crossings with Iraq are going to be closed and travels between cities in the Khuzestan province will be prohibited.

He also expressed hope that cooperation from people would help control the situation in Khuzestan ahead of the new Iranian year’s holidays.

Officials have warned that the coronavirus has begun to spread rapidly in Khuzestan, stressing the need for new travel bans and strict control at the border.

Several cities in the southwestern Iranian province have been categorized as red zones with high risk of infection.

(Source: Tasnim, under Creative Commons licence)

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Iraqi Cabinet approves New “Alternative Energy” Power Plants

By John Lee.

The Iraqi Cabinet has agreed to approve a recommendation from the National Investment Commission (NIC) for the Ministry of Electricity to proceed with an investment project for the construction of seven “alternative energy” power plants.

The new power stations are to be built in Karbala, Wasit, Babylon, and Al-Muthanna provinces.

(Source: Govt of Iraq)

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Iraq plans 20GW Solar Power by 2030

By John Lee.

Iraq’s Minister of Oil has his Ministry’s goal is to support the Ministry of Electricity to have 20 gigawatts of solar energy capacity installed by 2030.

In a promotional video issued by the Government of Iraq, Ihsan Abdul Jabbar added that the recently-announced partnership with French energy company Total will include the production of clean solar energy in Southern Iraq.

He said the Ministry was in discussion with other oil producers, including BP, to use their sites to produce solar power.

(Source: Govt of Iraq)

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Video: Where has Iraq’s Oil Wealth gone?

From Al Jazeera. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.

Decades of plundering: Where has Iraq’s oil wealth gone?

Ranked as the fourth-biggest oil producer in the world, many would assume that Iraq has the financial resources to weather the pandemic.

But that is not the case – its fragile economy is struggling to cope and it may turn to the International Monetary Fund for assistance.

It has already devalued its currency by almost a fifth, enabling it to eke out more dinars for dollars. Ahmed Tabaqchali, the chief investment officer of AFC Iraq Fund, helps explain where all of Iraq’s money goes:

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Iraq approves Paris Climate Accord

By Al Monitor staff. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.

Iraq approves Paris climate accord in step toward curtailing oil dependence

Iraq faces significant hurdles in transitioning to an economy without oil dependence, and future trends can be expected to exacerbate those challenges.

Click here to read the full article.

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Covid-19: Iraq Extends Travel Ban

Iraq’s Higher Committee for Health and National Safety held a meeting on Wednesday under the chairmanship of Prime Minister Mustafa Al-Kadhimi.

The Committee reviewed the latest Covid-19 related developments and decided to:

  • Update the travel ban to include travel to and from Australia, Austria, Belgium, Brazil, Denmark, Finland, France, Georgia, Germany, Greece, India, Ireland, Japan, Luxembourg, Slovakia, South Africa, Spain, the UK, the United States and Zambia.
  • Prohibit the entry into Iraq of passengers from these countries, except for Iraqi nationals who will be subject to a 14-day mandatory quarantine and a PCR test
  • Diplomats, official government delegations, international organizations, and experts working on service projects are exempt from the entry ban, provided they present a PCR test undertaken with 72 hours before their arrival and showing a negative result
  • Apply the principle of reciprocity to foreign airlines in imposing fees in relation to passenger PCR examinations
  • Public and private schools will continue to be allowed to open one day a week but must strictly apply preventive health measures
  • Direct all ministries and government departments to ensure that staff comply with preventative health measures, including the wearing of face masks. Members of the public not wearing face masks will not be allowed into government buildings
  • Shops, restaurants, malls, clubs, cafes, sport centres and event halls will face a fine not exceeding 5 million Iraqi dinars or a closure of no more than 90 days for violations of preventative health measures

(Source: Govt of Iraq)

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