Iraqi News Monday AM 10-4-21
Iraqi News Monday AM 10-4-21
TLM724 Administrator BondLady’s Corner
Suggestions To End Contradiction Between Financial Engineering And White Paper
Monday, 04 October 2021 234 Baghdad: Haidar Fleih al-Rubaie The Economic Expert, Tariq Al Ansari, urged, to take a measures that would {end contradiction between financial engineering applications and reformed white paper items, calling for the need to exploit oil revenues in economic diversity and work to reform and exchange rate of exchange In fragile layers, as well as direction towards creating a kind of public and private integration.
Financial Engineering
Al-Ansari said that the term of financial engineering was built on intelligence and innovation in the management of public funds, investments, expenses, debts, debt, expenditure and tax reform and the use of sports techniques to provide solutions to financial problems and develop appropriate strategies to address these problems.
The economic expert, said that {The White Paper launched by the government is aimed at a balance and impartial administration, with a highly efficient economic and performance system."
Noting that (and despite balanced diagnosis of Iraq's economic and financial problem, but the country is still suffering from corruption and high unemployment rates, As well as what is formed by semi-total dependence on oil wealth from large economic risks, which reflected negatively on government performance and institutions.
Private Sector
The Ansari, a statement of contradictions in the economic structure, indicating that {monetary policy is available in which financial surplus is available, but the level of credit for the private sector is very weak, while fiscal policy is clearly high in expenditure and privileges to be fulfilled with oil revenue and others, as well as politics Investment that is still shy} indicating that these points are clear contradictions between financial engineering and white paper applications.
Suggestions and Solutions
In order to eliminate these contradictions, Al-Ansari, suggested wholesale solutions that will bridge the large gap between financial engineering, items and applications and applications in the forefront of the "direction towards economic reform and improving the investment environment and working to restore the structure of monetary and financial policy, For the creativity of national competencies, as well as strict measures to combat corruption and tax evasion."
Al-Ansari also called on the need to "exploit oil revenues for investment in activities that contribute to economic diversity, and to pursue the reform of the monetary system and determine the exchange rate, which is affected by the fragile and poor classes, and creating a kind of public and private sector integration and the exploitation of the economic potential for them".
The economic expert stressed the importance of the reward and stolen, and improving the ration card by more than seven articles, and the activation of GDP and upgrading and upgrading the salary of social care and retirees at least (500 thousand dinars) or 23% of the damage rate as a result of the exchange rate.
Planning Announces Measures To Reduce Inflation In The Country
Economie | 03:37 - 04/10/2021 Baghdad - Mawazine News The Ministry of Planning announced, on Monday, measures to reduce inflation, while it indicated that it increased in the month of August, compared to the same month of last year, by 8%.
The ministry's spokesman, Abdul-Zahra Al-Hindawi, told the official news agency, "Inflation witnessed a rise in its rates after the change in the exchange rate of the dollar in November of last year, as it initially rose to 4% and after that witnessed stability, there is a monthly rise in rates." Inflation has begun to decline.
Al-Hindawi added that "inflation rose last month by 0.5%, but the cumulative rise from November of last year to August of this year reached 6.5% due to the accumulation of monthly rise, and by comparing the month of August of this year with its counterpart last year, we will find The rise in inflation rates reached about 8%.
He pointed out that "prices are the ones that affect the rise in inflation, as it is possible for prices to rise and the inflation index to rise, meaning that a person, with his money, is unable to buy his goods because of high prices, and the result is due to monthly inflation."
Al-Hindawi added, "The measures required to reduce inflation are to maintain prices on an ongoing basis and to provide goods and commodities in the market, and on the other hand, increase the volume of investment, which leads to a reduction in inflation." https://www.mawazin.net/Details.aspx?jimare=169821
Iraqi Banks Account For 99% Of Government Bonds
Economy Central Bank of Iraq Iraqi banks Bonds 2021-10-04 00:54 A government source said on Monday that most bonds raised by the government buys banks through its monetary reserve at the Central Bank of Iraq. The citizens are only one percent of those bonds.
The central bank is eight and the other issuing bonds for the Ministry of Finance, for the purpose of financing some public expenditures, with sanitary bonds from two categories of Dinars and two million dinars.
"Banks are used for the bank's compulsory cash reserve, which ranges from 35 to 40% of its capital from 250 billion dinars for the purpose of buying the government's bonds through the central bank," said Shakfi News.
"99% of these bonds buys banks and one percent buying them," the source said. You will move by buying these bonds. "
The source pointed out that "the government puts bonds between time and the other to lack of financial liquidity for public expenditure," he said.
https://shafaq.com/ar/اقتصـاد/المصارف-العراقية-تستحوذ-على-99-من-سندات-الحكومة
Al-Kazemi’s Advisor Proposes Solutions To Reduce The Value Of The Dollar
Economie | 08:50 - 04/10/2021 Baghdad - Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, determined today, Monday, the extent of the possibility of relieving pressure on the operating budget and addressing the financial situation in the country, while proposing solutions to support the private sector, reduce unemployment and reduce the value of the dollar against the dinar.
The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said, "It is possible to benefit from the recovery in oil prices by moving stalled projects, attracting a workforce, and solving the problem of unemployment, which averages 450 thousand work force willing to work, and this results in an entire society."
He pointed out, "The importance of spending additional rentier resources on projects to relieve pressure on the operating budget," noting that "the operational budget includes dozens of decisions and laws and bears financial burdens, and needs to double the 2021 budget to implement all its requirements."
Saleh explained, "There is poor planning, as well as the accumulation of unemployment, and treatment cannot take place unless the state sets laws for the private sector, such as the Social Security Law, which grants privileges to its workers, including guaranteeing his retirement rights or transferring an employee from the private sector to the government and others."
He added, "The additional resources of oil cannot be benefited from without directives to manage them," noting that "the private sector has the ability and leadership, and money must be disbursed to it within a specific plan and be in the form of soft, recoverable loans to preserve wealth, as for the disbursement of amounts as consumption.
It's just a big loss for the future."
And he continued, "The government today is shackled by thousands of decisions and laws that carry consumer spending burdens par excellence, and cannot be applied even if the price of a barrel of oil reaches $160," referring the reasons to "the adoption of legislation without studying the financial burdens and thus costing the state to carry out a review of those legislation, and therefore Today, the Ministry of Finance is unable to implement dozens of legislation due to the financial burdens.
And he indicated, "The transfer of problems from one cycle to another has caused a major imbalance, and long-term plans must be developed and adhered to, governed by laws, to rebuild the country properly," noting that
"Iraq in recent years has followed a policy of deportation and it must be replaced by a policy of communication, meaning that the government is changing With the continued implementation of the drawn plan, an example of this is the electricity sector, which has spent about 120 billion dollars and so far the country is unable to produce 20 thousand megawatts per day.
And on the extent of the possibility of reducing the value of the dollar against the dinar, the financial advisor said, "the monetary policy depends on the amount of foreign reserves supporting the iraqi dinar, that is, the efficiency of the reserves and their escalation towards safe lines."
He added, "There are expectations that the Iraqi dinar will improve with the development of reserves, and this is up to the monetary policy, especially since the timing is appropriate and the opportunity is appropriate, provided that there is financial discipline and correct development, and without them there is no value for any attempts."
He pointed out that "the 2022 budget will be subject to great pressure, especially since the 2021 budget is built on a deficit," stressing that "the improvement in oil prices will reduce the deficit in the 2022 budget, but there is an expansion if it is achieved, the spending ceiling will be fixed, meaning that the increase in revenues with The increase in operational spending does not achieve anything.” https://www.mawazin.net/Details.aspx?jimare=169868
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The Central Bank and the Association of Private Banks hold a workshop on “digital transformation and its impact on the Iraqi business environment”
Counselor at the Association of Private Banks Sherawan Anwar Mustafa
Banks Economy News – Anbar The Central Bank, in cooperation with the Association of Iraqi Private Banks, organized a workshop entitled "Global Digital Transformation and its Impact on the Business Environment in Iraq". In cooperation with the Federation of Iraqi Businessmen, Al-Anbar branch.
The workshop was held in the meeting and conference hall in Al Rayyan Tourist Complex in Al Ramadi Corniche.
The workshop aims to support the youth category in the governorate, as they were provided with 200 free licenses from the Coursera program to develop their skills and push them into the labor market.
This is in line with the vision of the Central Bank that supports the youth category, especially as it constitutes the largest part of the Iraqi society.
It is noteworthy that the Central Bank of Iraq launched more than one initiative that contributed to creating many job opportunities for the youth category and contributed to supporting many small and medium enterprises.
The advisor at the Association of Private Banks, Sherawan Anwar Mustafa, gave a presentation on the "Global Digital Transformation Program and its Impact on the Development of the Business Environment in Iraq".
He added in his speech during the workshop, which was attended by "Economy News", that "the Association of Private Banks continues its cooperation with the Central Bank through this workshop in support of the community category."
He stressed that "what the cities liberated from ISIS have been subjected to requires us all to focus on the youth group, as they are the leaders of tomorrow and the best people to live in the destroyed cities."
Mustafa is clear that "the concerned authorities decided to allocate 200 free scholarships from Coursera grants in various fields to develop youth skills."
He pointed out that "the presence of future workshops that support the youth and women category in all Iraqi governorates, and this is part of a joint vision between the Association of Iraqi Private Banks and the Central Bank of Iraq." Views 235 Date Added 10/04/2021 https://economy-news.net/content.php?id=26508
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