Iraq Economic News and Points to Ponder Monday Evening 1-22-24

Tlm724 Administrator Bondlady’s Corner

The Sudanese Advisor Reveals The Government's Vision To Reform The Economy And Not Depend On Oil

Economy | 11:02 - 01/22/2024 Mawazine News - Baghdad, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Monday, the contents of the government’s vision to activate non-oil resources in Iraq, and while he stressed that the Prime Minister will be the basic nucleus of the strategic partnership between the state and the private sector, he indicated that the economic reform law has taken its course. To Parliament for legislation.

Saleh said, “The presidency of the Prime Minister, Muhammad Shiaa Al-Sudani, of the Private Sector Council will be the basic nucleus for launching the principle of strategic partnership between the state and the private sector, in a way that aims to activate the country’s human and material resources and on foundations that serve the renaissance of Iraq in diversifying its sources of national income, whether in agriculture.” modern, manufacturing industries, or other non-oil natural resources, which will be supported by important legislation under the name (Economic Reform Law), which has made its way to the House of Representatives.”

He added, “The national strategic objectives for the development of the private sector, whose paths will be launched from the decisions of the Private Sector Council soon, have taken into account the contribution of the national market to the gross domestic product to more than 55% of the composition of the country’s national income in the coming years, instead of its current percentage, which is By about 37%.

He pointed out, “This will be achieved through the state’s support for investment in private sector projects themselves, especially those that operate jobs and generate value-added chains on a large scale, as well as the launch of partnership projects in manufacturing industries, in addition to the state’s financial support for them with sovereign guarantees that are consistent with Iraq’s entry into the industrial age.” "Modern digital technology, in accordance with the requirements and principles of accelerating economic growth, is a strategy that will be included in the national development plan for the next five years."     https://www.mawazin.net/Details.aspx?jimare=240831

Appointment of administrative positions in exchange companies under categories (A, B)  
January 22, 2024    :diamonds: In light of the supervisory role of this bank and in order to simplify work procedures, the following was decided.. For more, click here     https://cbi.iq/static/uploads/up/file-170590198913478.pdf
 
https://cbi.iq/news/view/2504

With A Growth Rate Of 150%... Taxes Announce An Increase In Their Revenues To More Than 4 Trillion

  Money  and business  Economy News – Baghdad   The General Tax Authority announced, on Thursday, that its revenues had risen to 4 trillion and 500 million dinars within 8 months, while indicating a high growth rate of 150 percent.

The Director General of the Authority, Ali Waad Allawi, said in a statement reported by the official news agency, and seen by Al-Iqtisad News, that

“the Authority contributed to implementing a small part of the electronic system, namely the POS electronic payment sections,” stressing that  “implementing this step contributed to It increased the financial revenues of the Authority and reduced the rates of corruption and cases of extortion.”

 Allawi pointed out,   “The amount of tax revenues was previously approximately 2 trillion and 700 million dinars, but  since we took over the authority in March 2023, and until November, the revenues amounted to 4 trillion and 500 million.”

 He continued,  "There is a high growth rate of up to 150 percent, due to the authority's commitment to the instructions and the correct implementation of the POS electronic payment system."

 211 views  01/18/2024 - https://economy-news.net/content.php?id=39580

The Iraqi Government Is Developing A Plan To Activate Non-Oil Resources

 January 22, 2024Last updated: January 22, 2024  The Independent/- The financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Monday, the contents of the government’s vision to activate non-oil resources in Iraq, stressing that the Prime Minister will be the basic nucleus of the strategic partnership between the state and the private sector.

Saleh said, in a statement to the official agency and its independent affiliate, that

“Prime Minister Muhammad Shiaa Al-Sudani’s presidency of the Private Sector Council will be the basic nucleus for launching the principle of strategic partnership between the state and the private sector,  with the aim of activating the country’s human and material resources and on foundations that serve the renaissance of Iraq.”

In diversifying its sources of national income, whether in modern agriculture,  manufacturing industries, or  other non-oil natural resources,

which will be supported by important legislation under the name (Economic Reform Law), which has made its way to the House of Representatives.”

He added, “The national strategic objectives for the development of the private sector, whose paths will be launched from the decisions of the Private Sector Council soon, have taken into account the contribution of the national market to the gross domestic product to more than 55% of the composition of the country’s national income in the coming years, instead of its current percentage, which is By about 37%.”

He pointed out, “This will be achieved through the state’s support for investment in private sector projects themselves, especially those that operate jobs and generate value-added chains on a large scale, as well as the  launch of partnership projects in manufacturing industries, in addition to the

state’s financial support for them with sovereign guarantees that are consistent with Iraq’s entry into the industrial age.”

“Modern digital technology, in accordance with the requirements and principles of accelerating economic growth, is a strategy that will be included in the national development plan for the next five years.”

The importance of partnership between the state and the private sector

The partnership between the state and the private sector is one of the most important pillars of economic development in any country, as it enables the state to benefit from the resources and expertise available in the private sector, and it also helps the private sector access the markets and financial resources it needs.

In the case of Iraq, the partnership between the state and the private sector is necessary to diversify sources of national income and achieve sustainable economic growth. As Iraq relies heavily on oil as a source of income, which makes it vulnerable to external risks, such as oil price fluctuations.

Through this partnership, the Iraqi government aims to achieve the following goals:

    Increasing the private sector's contribution to the gross domestic product.

    Providing job opportunities and improving the standard of living for citizens.

    Promoting sustainable economic development.

Axes of partnership between the state and the private sector

The partnership between the state and the private sector in Iraq focuses on the following areas:

    Modern agriculture: through state support for agricultural projects, such as irrigation and smart agriculture projects.

    Transforming industries: through state support for industrial projects, such as food industry projects and pharmaceutical industries.

    Other non-oil natural resources: through state support for projects that exploit natural resources other than oil, such as renewable energy projects and tourism projects.

Economic Reform Law

The Economic Reform Law is one of the most important pieces of legislation that supports the partnership between the state and the private sector in Iraq. This law aims to provide the necessary legal and regulatory environment to promote investment in Iraq.

The Economic Reform Law includes a set of measures that are in the interest of the private sector, such as:

    Facilitating investment procedures.

    Protecting investors' rights.

    Providing financial and institutional support for investment projects.

Expectations

The partnership between the state and the private sector in Iraq is expected to achieve a set of positive results, such as:

     Increase investments in Iraq.

    Creating new job opportunities.

    Promoting sustainable economic growth.

 But to achieve these results, the Iraqi government must develop a clear strategy for partnership between the state and the private sector, and provide the legal and regulatory environment necessary for the success of this partnership.  https://mustaqila.com/الحكومة-العراقية-تضع-خطة-لتفعيل-الموا/

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Provoking Points To Ponder on Adversity:

Hope begins in the dark, the stubborn hope that if you just show up and try to do the right thing, the dawn will come. You wait and watch and work: you don't give up.  - Anne Lamott

Truth, like the burgeoning of a bulb under the soil, however deeply sown, will make its way to the light.  - Ellis Peters

Flowers grow out of dark moments.  - Corita Kent

I have brightness in my soul, which strains toward Heaven. I am like a bird!  - Jenny Lind

When it is dark enough, you can see the stars.  - Charles A. Beard

All sorts of spiritual gifts come through privations, if they are accepted.  - Janet Erskine Stuart

There is nothing the body suffers which the soul may not profit by.  - George Meredith

 Famous Quotes and Authors, Famous Quotations for all Occasions-

 http://famousquotesandauthors.com/topics/adversity_quotes.html

 Famous Quotes and Authors, Famous Quotations for all Occasions-