Iraqi News Friday Evening 4-22-22
Iraqi News Friday Evening 4-22-22
TLM724 Administrator BondLady’s Corner
The law calls on the Ministry of Foreign Affairs to pursue “financial deposits” abroad
economic Last update 04/20/2022 | 4:28 pm information / special On Wednesday, the State of Law coalition called on the Ministry of Foreign Affairs and the Central Bank to pursue financial deposits abroad, which are estimated at 600 billion dollars.
A member of the coalition, Kazem Al-Haidari, said in a statement to the "Information" agency, that "financial deposits in countries abroad are divided into two parts, the first being fundamentalist deposits, but monopolized by political orders, and the other part is not fundamentalist, and we do not know their true size," noting that "estimates say that they are estimated at 600 billion. dollar".
He added that "there is no government move or by the central bank to pursue financial deposits abroad and activate the ways to return them to Iraq and benefit from them in economic projects, agricultural development and improving electricity."
Al-Haidari called on the government, the Ministry of Foreign Affairs and the Central Bank “to pursue all financial deposits abroad and find the right ways to ensure their return to the country.”
It is noteworthy that only Iraqi financial deposits in Lebanon may exceed 10 billion dollars deposited in several banks, and the bulk of it belongs to politicians and government figures deposited in the names of their wives and children, in addition to the accounts of various Iraqi commercial companies.
https://almaalomah.me2022/04/20/593994/
An Economic Expert Recognizes The Difficulty Of Reversing The Dollar For The Previous Price
Time: 2022/04/21 20:37:23 Read: 988 times {Economy: Economy News} Economic expert, Salah Nuri, on Thursday, with difficulty to re-spend the dollar for the previous price.
"The dollar exchange rate can not be re-established as a result of the international factor caused by the rise in food prices globally," Nuri said.
"So this factor is a strong determination to reduce the exchange rate of the dollar as well as other local factors," Nuri said.
"The exchange rate is considered or reduced again," the economic expert said.
The Ministry of Finance responded to news, discussed the reduction of the dollar exchange rate to the dinar.
"There are no discussions to reduce the dollar to 120,000 dinars within the 2022 budget," said the Undersecretary of the Ministry of Finance.
On 4 April, the Supreme Court responded on 4 April.
https://alforatnews.iq/news/خبير-اقتصادي-يقر-بصعوبة-إعادة-صرف-الدولار-للسعر-السابق
The Appearance Of Muhammad Salih To / Nina /: Iraq's Foreign Assets Are An Important Aspect Of The Investments Of The Iraqi Fund For Foreign Development
Thursday 21 April 2022 12:20 | economic Number of readings: 305 Baghdad / NINA / - The financial expert, advisor in the Cabinet, Mazhar Muhammad Salih, confirmed that Iraq's foreign assets are an important aspect of the investments of the Iraqi Fund for Foreign Development.
He told the National Iraqi News Agency ( NINA ) that Iraq's foreign assets represent an important aspect of the investments of the Iraqi Fund for Foreign Development, most of which are in joint Arab companies, since the seventies of the last century.
Saleh added that some of them are still profitable and the other reluctant, and there are companies that have become losers that have been liquidated, as Iraq's contribution to those companies that are managed through the aforementioned fund exceeds one billion and more than one billion US dollars or more.
He explained that the other Iraqi real estate assets abroad are still in sound condition and registered in a fundamental manner, despite the fact that some of them were subject to judicial seizures during the nineties siege period.
Saleh added that UN Security Council Resolution No. 1483 in May 2003 called on banks of the world and others to transfer any bank funds that were frozen during the era of the previous regime to the Development Fund for Iraq, which is an account opened in the name of the Central Bank for the benefit of the Iraqi government. / End https://ninanews.com/Website/News/Details?key=971331
Aboul Gheit Stresses The Importance Of Iraq And The Centrality Of Its Current Role In Achieving Stability In The Arab Region And The Middle East
Thursday 21 April 2022 16:44 | political Number of readings: 252 Baghdad / NINA / - The Secretary-General of the League of Arab States, Ahmed Aboul Gheit, stressed the importance of Iraq and the centrality of its current role in achieving stability in the Arab region and the Middle East.
A statement by the Ministry of Foreign Affairs stated, today, Thursday: "The Undersecretary for Political Planning Affairs Saleh Hussein Al-Tamimi met Abul-Gheit at the headquarters of the General Secretariat of the League of Arab States, in the presence of Ahmed Nayef Rashid Al-Dulaimi, Iraq's ambassador in Cairo and his permanent representative to the League of Arab States."
During the meeting, Al-Tamimi praised the university's current position and effectiveness in performing its roles, stressing Iraq's support for the university's path and its centrality in activating and developing joint Arab action.
For his part, the Secretary-General praised Iraq’s performance through its permanent representative, headed by the permanent representative, Ambassador Ahmed Nayef, within the framework of the joint Arab action.
”Iraq has turned into a meeting place for interests and a safe environment for regional and international dialogue and understandings.” / End https://ninanews.com/Website/News/Details?key=971384
Iran Is Ready To "Nationalize The Iraqi Oil Industry"
Thursday 21 April 2022 21:28 | economic Number of readings: 467 Baghdad / NINA / - The Iranian Ministry of Oil announced its readiness to provide the necessary ground for the transfer of technical knowledge to Iraq and the nationalization of the Iraqi oil industry.
"With the coordination that was made, I allowed the way to accept 400 to 500 Iraqi students annually to study in fields related to the oil industry in Iranian universities," the Iranian "IRNA" news agency quoted Taher Saeedi, an official in the Iranian Oil Ministry, as saying.
Taher Saeedi, a member of the Iran-Iraq Work and Activities Committee, added that "the transfer of technical knowledge and the development of specialized training is one of the priorities of this committee's work," noting that
"the process of Iraqi oil production and extraction has become the preserve of foreign companies, especially American, French, Chinese and Italian companies at the same time." the present".
The Iranian official pointed out that "Iran has not interfered until today in the Iraqi oil industry," noting that
"his country is ready to prepare the ground for the nationalization of the Iraqi oil industry, given the efforts of the Baghdad government to achieve this important goal."
He said that Iran has a high level of technical knowledge in the field of drilling and oil production, and this knowledge will be transferred through bilateral cooperation between the two countries, considering that
"interaction and cooperation between the two countries in the field of oil production is the basis of common interests." / End 8 https://ninanews.com/Website/News/Details?key=971447
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 zone 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
Oil prices fell by about 4 percent after a week of stability
Economie| 09:49 - 04/22/2022 Baghdad - Mawazine News Oil prices fell, on Friday, heading towards a weekly decline of about four percent, affected by expectations of raising interest rates, weak global growth and restrictions to combat Covid-19 in China, which negatively affected demand, although the European Union is considering banning Russian oil imports.
By 0130 GMT, Brent crude futures fell 81 cents, or 0.8 percent, to $107.52 a barrel. West Texas Intermediate crude futures were down 72 cents, or 0.7 percent, at $103.07 a barrel.
The two crudes are heading for a weekly decline of about 3.7 percent.
This was the least volatile week in trading since the start of the Russian invasion of Ukraine on February 24, which led to the imposition of sanctions that cut Russian oil supplies and prompted consuming countries to withdraw record volumes of oil from their stockpiles. Ended 29 / 92
https://www.mawazin.net/Details.aspx?jimare=190900
Experts Identify Factors That Helped Improve The Iraqi Economy And Proposals To Increase Per Capita Income
Economie Yesterday, 20:42 Baghdad - conscious - Nassar al-Hajj Indicators of improvement in the performance of the Iraqi economy and the rise in the level of revenues prompted experts to put forward optimistic expectations for the coming years,
but they stipulated that they be strengthened by a number of government moves to invest the growth situation in the rise in oil prices in increasing per capita income.
In its report issued during the current month of April, the World Bank confirmed that Iraq ranked first in the Arab world with the largest growth in GDP and per capita for the year 2022.
Good improvement and expected to continue for several years
Economic and financial analyst Mahmoud Dagher said in a statement to the Iraqi News Agency (INA), that "the World Bank report indicates an improvement in the overall performance of the Iraqi economy compared to previous years that were affected by the Corona pandemic, and when compared to the previous situation, it is a good improvement."
He explained, "The World Bank report contains two parts, the
first is non-oil sectors that must achieve an improvement after the pandemic, such as the transportation sector and retail sales, as well as some activities that were affected by Corona, while the
second part indicated that the main improvement was represented by the significant rise in oil prices, and this The improvement will continue and is expected until 2024."
He added, "The government must invest this boom in oil prices, which may last for two years, injecting more investment and re-growth in the gross domestic product," noting that
"the World Bank estimates indicate a growth of approximately 5% in GDP, which leads to An improvement in the repayment of the Iraqi debt and its dues and its effects on the economy.
Calls to increase energies and capabilities within the economy
In turn, the economic and academic analyst, Ahmed Saddam, stated that "the economic growth achieved in Iraq is linked to an increase in the nominal value of Iraq's oil exports, as it is the main source of income and the main component of the gross domestic product, and
it must focus on increasing the energies and capabilities within the economy."
And he stated in his speech to the Iraqi News Agency (INA), that
"the achieved growth depends on the level of oil prices, and the returns that the simple Iraqi citizen can derive from this growth coupled with the level of economic policies and their employment of financial surpluses in non-oil productive projects or stimulating activities and thus creating job opportunities, generating incomes, reducing poverty, as well as improving the level of services, especially in the health and education sectors.
He continued, "The reality of the economy is mainly related to the oil sector and its exports, and therefore the economy as a result is linked to all the changes that occur globally and the fluctuations that result from the rise or fall of oil prices."
Government steps that drive growth
For his part, economic analyst Abdul Hassan Al-Ziyadi confirmed to the Iraqi News Agency (INA) that "growth should be invested in government programs to make the private sector succeed and achieve growth."
He added, "State-building needs serious steps to support the private sector by the next government."
In turn, economic analyst Salam Sumaisem pointed out that "the last report of the World Bank classified Iraq among the countries that achieved significant growth this year and considered it the first in the Arab reality, based on the steps taken by the government to address the phenomenon of inflation in the Iraqi economy and also the rise in oil prices globally."
And she stressed in her speech to the Iraqi News Agency (INA) that "the Iraqi government must invest additional resources by taking quick steps to revitalize the agricultural and industrial realities, as they face real problems and need a long time to solve."
The World Bank report expected that "Iraq's gross domestic product will grow during the current year by 8.9 percent, surpassing the rest of the Arab countries, including Qatar, which is expected to grow by 4.9 percent, Saudi Arabia 7 percent, Kuwait 5.7 percent, UAE 4.9 percent, Algeria 3.2 percent, Egypt 5.5 percent, and Jordan." 2.3 percent and Morocco 4.3 percent.
He added, "The growth of Iraq's GDP will be 4.5 percent, similar to Qatar, and it will rise in Egypt to 5 percent, Saudi Arabia will have 3.8 percent, Kuwait 3.6 percent, Algeria 1.3 percent, Tunisia 3.5 percent, and Jordan 2.3 percent."
The World Bank report indicated that "Iraq will also be the highest among the Arab countries in terms of per capita GDP growth during 2022, at 6.3 percent, while Saudi Arabia's per capita growth will be 5.5 percent, Kuwait 4.5 percent, Bahrain 1.4 percent, Egypt 3.6 percent, and Qatar." 4.5 percent, while Morocco will decrease 0.1 percent. https://www.ina.iq/154253--.html
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