Iraqi News Friday Afternoon 4-22-22
Iraqi News Friday Afternoon 4-22-22
TLM724 Administrator BondLady’s Corner
Minister Of Finance: The International Community Supports Iraq By Implementing The White Paper, And We Do Not Need Financial Support
Economie| 08:04 - 21/04/2022 Baghdad - Mawazine News, Minister of Finance Ali Abdul-Amir Allawi confirmed, on Thursday, Iraq's aspiration for a supportive international role in the implementation of programs, including the White Paper, and while stressing that the country is not in dire need of financial support at the present time, he announced the government's aspiration to expand the tripartite cooperation with Egypt And Jordan for the stage of the common market and other programs.
Allawi said in his speech on the sidelines of the spring meetings of the Bank and the International Monetary Fund in Washington, that "the main purpose of his visit to Washington and participation in meetings with an integrated team from the Ministry of Finance and major banks is to strengthen and deepen our relationship with international agencies."
He added, "The team is in talks with the US Treasury, as there are some important and outstanding issues that are not related to US financial support, because fortunately we do not urgently need financial support now, but we need more technical assistance and moral support for our reform program, which has been completed." Include it in what we call the white paper.”
He added, "I do not expect to conclude any major economic agreements with the United States, because we have the Strategic Framework Agreement and we are satisfied with it and we welcome the continuation of American support for the economic development of Iraq, but the focus now is more on what we can call programs and plans instead of money."
He continued, "What we need, is a revolution in our financial management, in our understanding of the strategic issues, and the economic issues facing the country," adding, "We have missed many opportunities that would have pulled the country out of its poor economic performance and Iraq probably missed the equivalent of 50 years of progress." economic".
He stressed, "We are stuck in inherited problems that must be addressed, almost all of which are related to institutions," noting that benefiting from the country's resources and its strategic location necessitates planning to re-engineer the economy to take us beyond the oil era, as there are major issues and challenges facing us and facing the next government and who will be responsible on the economic team.
On the white paper, Allawi stressed that "the year 2020 represented the most difficult economic period that we have gone through, and since 2003 we have gone through a moribund period that enabled us to see the future in which oil prices will collapse and global demand will decline, so the year 2020 was a glimpse of what could happen, and it was a very dangerous moment, And one of the factors that led us to look at the structural issues affecting the Iraqi economy.”
He continued, "The white paper can be reduced to its essence as (a strategic program to reform the governmental public sector), and the reason that led me to believe that the public sector needs reform is that the country is dominated by inherited issues that have imposed on the state certain structures, including an economy controlled by the state, which Despite all the rhetoric over the past 20 years, it has not succeeded in developing the private sector and the transition to a free economy, so we needed to address this problem."
And he indicated, "We need a public sector that will create a favorable environment that revives the private sector," stressing that "there is a whole series of reforms with regard to government procedures, policies, strategies and laws that needed a fundamental change, and we have counted 600 reform points, which must be implemented over five years." Years".
He noted that, “In 2020, as I said, when we experienced near-death experiences, government expenditures would have required $70 worth of oil if we adhered to the sales ratio allowed by OPEC of 2.8 million barrels per day, and the price of a barrel fell much lower and we did Selling a shipment of oil for only $9, so you can imagine the pressure on public finances."
He stressed that "public finance is very important because it is the main component of the economy that supports GDP instead of entering into international loans that put Iraq at the mercy of international agencies, and here we decided to confront the matter and design a program in a specific period of time, to eventually produce a radically different public sector; A new strategic vision for the country.
And he added, "This is part of a series of government proposals. The White Paper was approved as a whole package and became a government policy. Then it received strong parliamentary support from all the major political forces and the various Finance and Economic Committee supported the White Paper, so it became a government policy," explaining that "In 2021, we started the process of actually implementing the recommendations of the White Paper and established a unit attached to the Prime Minister’s Office, and it is now equipped with a full cadre so that this unit has its own representatives in all the main ministries that will supervise the implementation process.”
He added, "What we need to do now is to ensure that the momentum continues and the support of the international community continues. We need significant technical assistance in the form of specialists who are ready to commit. We do not want to hand the task over to consultants who come in temporarily for a few weeks or months. International Contact Group to provide a support base of technical experts.
On the tripartite relations between Iraq, Egypt and Jordan, Allawi stressed that "the relations focus primarily on the political file, and economic exchange may have a lesser role at the present time, and there is still talk of a common market or an attempt to establish a common market in its initial stages."
The Finance Minister continued,
And he indicated, "We are waiting for the formation of the new government and intend to produce a working paper that will define the pros and cons of this particular type of market, free trade area or common market, but I think that Iraq must decide at some point what type of larger and broader economic framework should be put in place." Ended 29/h https://www.mawazin.net/Details.aspx?jimare=190865
The Minister Of Finance From Washington: The Kurdistan Region Did Not Hand Over Its Revenues To Baghdad
Today, Friday, Finance Minister Ali Abdul-Amir Allawi set the objectives of submitting a draft law on emergency support for food security to the House of Representatives for legislation, while stressing that the region did not hand over its revenues to Baghdad.
Allawi said in a speech on the sidelines of the Spring Meetings of the Bank and the International Monetary Fund in Washington, "The provision of the emergency support bill is designed for specific purposes, as citizens suffer from high global commodity prices, which has had an impact on the poor classes," noting that "what I want from The bill is to estimate the windfall gains from the rise in oil and distribute them according to need, either through a cash transfer or a food basket.”
He added that "Iraq receives the money from the export of oil three months after the start of the export shipments," noting that "the unexpected gains due to the rise in oil prices amount to 25 billion dollars after six months from now, and this is what was planned in the emergency financing law." .
He pointed out that "the federal government did not receive any cash or account from the Kurdistan region, although it is obligated to pay the revenues of oil exports, customs, fees and other taxes associated with the region, especially customs," noting that "the federal government provided additional amounts to the Kurdistan region after being exposed to its inability last year to pay Pay the civil servant’s salary expenses and we will continue to do so until the accounts are settled between the Kurdistan Regional Government and the Federal Government.” https://www.radionawa.com/all-detail.aspx?jimare=29147
In The Document .. Details Of The Appointment Of The Economic Advisor To The Iraqi Parliament
Iraq Friday, April 22 2022 1:53 PM National News Center/ Baghdad The House of Representatives decided to appoint Aram Sabah Othman as the council’s economic advisor.
According to a document obtained by the National News Center, it stated, “Based on the authorized powers and the availability of the legal conditions for appointment contained in Articles Seven and Eight of the Civil Service Law No. 4 of 1960 as amended in (Aram Sabah Othman), who obtained a bachelor’s degree in law for the year 2014.”
According to the graduation document issued by the Ministry of Higher Education and Scientific Research / Al-Qalam University College of Kirkuk / No. (519) on 2/11/2015, it was decided: Appointing Aram Sabah Othman to the position of economic advisor to the House of Representatives (higher special grade - A-), and his nominal salary and all his entitlements are determined in accordance with the law.
https://nnciraq.com/123031/
“Establishing A Sovereign Fund” .. An Economist Calls For A Mechanism For Disbursing Financial Surpluses
Economie Friday, April 22 2022 1:36 PM National News Center / Special The economist Ahmed Eid called, on Friday, to put in place a specific mechanism for disbursing the financial surpluses, which came as a result of the rise in oil prices, indicating that the development of the agricultural and industrial sector through the surplus funds has become necessary.
Eid said in a statement to the "National News Center", "The oil price surplus should be invested by establishing a sovereign fund that guarantees future generations their rights from the national wealth that Iraq enjoys, as well as the importance of working on important strategic investment projects that enhance the economic resources it needs." Iraq".
He added, "Through financial surpluses, the industrial and agricultural productive sectors must be developed to provide a local and national industry that achieves self-sufficiency at the industrial and food levels."
He pointed to "the necessity of investing the financial surplus of oil correctly," explaining that "the surplus funds as a result of the rise in oil prices are very large, and a certain mechanism must be established for its disbursement." https://nnciraq.com/123028/
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