Iraq Economic News and Points to Ponder Friday Afternoon 1-31-25
Two Experts For {Al -Sabah}: Cash Reserves For Iraq {Reassuring}
Economic 2025/01/30 Baghdad: Shukran Al –Fatlawi Two economic experts saw that the current monetary reserves owned by Iraq are "reassuring" and are the best compared to previous years.
Iraq ranked third in the Arab world with foreign exchange reserves for the year 2024, after both Saudi Arabia and the UAE. Academic Dr. Nabil Al -Marsoumi told Al -Sabah:
“Iraq ranked third in the Arab world in terms of foreign exchange reserves for the year 2024, pointing out that despite the slight decrease in the foreign cash reserves in the Central Bank of Iraq from (109,153) billion dollars in the year 2023 to the year to 2023 to (106.7) billion dollars in the year 2024, according to the data of the Central Bank of Iraq, as a result of the operations of deducting remittances for the Iraqi government,
but the financial situation in Iraq is still coherent, and
it ranks third after both Saudi Arabia and the UAE, which is the reserve rate in them (499) billion A dollar for Saudi Arabia and (210) billion dollars as a reserve for the Emirates. He added that
Currency reserve
the country has large cash reserves, which is greater than 100 percent of the size of the exported currency,
usually the percentage of a country like Iraq that maintains cash reserves equivalent to between 20 to 40 percent of the size of the currency exported in positive, indicating that
the financial situation is reassuring that it exceeded 100 percent
Therefore, the cash reserve in the country is very large, pointing to the importance of the matter, as
it represents a wall in the face of crises that can happen, even if it is caused by the low price of oil.
Deduction
And that the central bank can provide a great protection for the Iraqi government if it needs some financial supplies by deducting transfers from government banks, pointing out that the financial situation in the country is among the most prosperous years in terms of foreign cash reserves.
And that this contributes to
reassuring foreign investors and
providing a safe investment environment and
maintaining the fixed tie price that Iraq adopts for the dinar against the dollar, pointing out that
the monetary stability of any country is a very important goal in attracting and reassuring foreign investors, as well as its work in promoting local investment in particular The central bank has initiatives, especially those related to housing and sustainable development movement initiatives.
Third place
Al -Marsoumi stated that Iraq's third place in the Arab world in terms of possessing foreign cash precautions is very important, for economic reasons at the forefront, helping to maintain the value of the local currency at a fixed price, and maintain liquidity to fulfill international financial obligations, as well as financing internal projects and reassuring investors Not to mention the diversification of investment portfolios.
Financial stability
For his part, the researcher on economic affairs, Imad Al -Mahmoudawi, in Al -Sabah, the
cash reserve of any country, considered a source of financial stability, and a repetition of any financial storms that the economy can face, pointing out that it avoids financial pressure and revives sustainable development. He pointed out that the
cash precautions are defined as money that can be
kept to face crises and
meet the needs, without the need to borrow, as well as it
helps in preparing flexible financial strategies that enable the country to carry out projects with flexibility and confidence,
pointing at the same time to the need for multiple sources of income and not to keep On the oil material as an essential source of income to increase precautions and achieve sustainable development that is in the interest of Iraq and its children. It is noteworthy that the
monetary reserve is defined as the total deposits and bonds of foreign currencies that central banks and cash authorities in the state are kept,
in order to
support the local currency and
pay the debts owed by the state, and
the cash reserve is usually consisted of elements, which are foreign currencies, such as the dollar the euro, Japanese yen and other currencies, or what central banks possess of gold. https://alsabaah.iq/109314-.html
The Legal Needs Of Investment Companies
Economic 28/01/2025 Nebras Aziz In light of the global economic growth, the economy has turned into the corner of building and developing society and turning the economy into the primary and unitary factor in the development of societies and countries, economic progress and the development of development rates has become the legal environment for the basics to make foreign investments supportive to achieving sustainable development.
The pursuit of providing the difficult foreign currency to develop giant and important economic projects to strengthen the competition to attract foreign investments and make them among the priorities of many countries, as
attracting these investments contribute to improving economic growth, providing job opportunities, and enhancing the technical capabilities of the state.
One of the most important factors affecting the attracting foreign investment is the provision of an appropriate legal environment that meets the needs of these companies, as
laws and policies that are in line with the global market requirements contribute to enhancing confidence among foreign investors, whether by direct investment or indirect investment of foreign capital.
The creation and development of incentives of a legal nature has become one of the most important requirements of states and the policy of governments, including the Iraqi government that seeks to encourage foreign investment for foreign companies, as
it is an urgent need when entering a new market to a clear understanding of the legal environment in this country, starting with commercial regulations and tax laws, To the intellectual rights and protecting the rights of investors.
The study of legal needs contributes to facilitating commercial processes and reducing the legal risks that companies may face, and perhaps the Iraqi legislator in the influential Iraqi investment law has among many provisions that represent an incentive for foreign companies to enter the Iraqi investment market and seek to encourage this investment, and
despite this, Iraqi legislation remains It needs to be reviewed and updated in the light of the amendment and change in the nature of the investment and economic activities characterized by development and progress for its association with a factor of moving and permanent development, which is the economic factor.
The most prominent legal needs of foreign companies are to focus on encouraging foreign direct investment and allowing the foreign investor to manage the investment project directly and not to interfere in his management style for him on the one hand and granting the decision of the Investment Authority to grant the investment leave the absolute legal argument on all administrative and financial bodies.
In the end, the legal environment is a fundamental element in attracting foreign investments, and for this, it is necessary for countries to study and meet the needs of foreign companies by setting a legal framework that encourages companies to invest, and supports the continuity of these investments. https://alsabaah.iq/109159-.html
Innovation And Economic Development
Economic 2025/01/30 Zaki Abdul Razzaq Between creativity and the strength of will, in light of the rapid development of technology and increased commercial competition, the need for innovation and development shows,
by adopting a different approach in work and production after the old curriculum was unable to provide solutions and be with different forms and forms as a new product or advanced technology services and technological processes.
Innovation then ... a mighty engine for economic growth.
In economics, there is a problem (scarcity),
but innovation violates the rules of scarcity as it gives the economy greater production in the same amount of resources available or less of them, and
this is the key to success and creative development that gives us a driving force towards great economic growth, and it returns with great benefits to society.
Within the framework of comprehensive development in the fields of manufacturing and services, the role of innovation is highlighted as a major and important key in
reducing costs,
increasing productivity and quality,
reducing waste and
enhancing the principle of competitiveness in the market, also
there is another role that includes engineering development and electronic applications in heavy industries, especially in smart manufacturing, clean energy and 3D printing techniques Outdated control and renewable energy in addition to data analysis to improve operations and make firm decisions.
The result here leads to better products and methods of production more effective as in the world of e-commerce, also adds a new value to the materials.
For example, computers chips produced from silicon and its source of sand as a result of innovation and development, and this is conclusive evidence that science and technology is indispensable.
All the benefits and importance offered must ask a question about the role of innovation and development in economic development in Iraq to remind our country must be within the global innovation index, and that
Iraq does not occupy an economical global center, and
everyone knows the capabilities of Iraq as it abounds with the natural resources and human resources that are A divine gift,
which is the focus of development and must be worked to remove Iraq from the economic recession.
It is time to look forward, the responsibility is great and important for all concerned.
It requires enhancing the integration between scientific and technological innovation and industrial innovation, and the government must give priority to innovation in its policy.
The enlightened government planning is decisive to achieve success.
The important thing is to increase investment in scientific research and innovation,
all of this in order to build competencies and capabilities in the industrial development sector that leads to promising industrial performance in order to compete globally,
in turn leads to
increased income,
creating functions and
attracting foreign investments and
achieving distinguished industrial performance,
the slogan (made in Iraq) must To possess real and high value by caring for and embracing innovation and providing training and rehabilitation. https://alsabaah.iq/109315-.html
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