Iraqi News Saturday Evening 4-30-22
Iraqi News Saturday Evening 4-30-22
TLM724 Administrator BondLady’s Corner
Financial Life Constriction” .. What Are The Repercussions Of The Absence Of The Budget On The Local Market?
Saturday, 30 April 2022 5:37 PM National News Center / Special The financial advisor to the caretaker government, Mazhar Muhammad Salih, identified, on Saturday, the repercussions of the absence of the general budget for 2022 on the Iraqi economy and the local market.
Saleh said in a statement to the National News Center. The absence of the legislation of the General Budget Law will lead to a contraction of financial life and commitment to similar financial behaviors for the previous year, i.e. 2021, without the ability to address the emerging economic problems in the current year, i.e. 2022, and it is called a contraction of financial behavior towards the minimum in the course of financial policy, which usually draws its limits based on The provisions of the Financial Management Law No. 6 of 2019 as amended.
He added that "in the event of delay in approving the federal general budget law until the end of the fiscal year 2022, the Iraqi financial policy will deal in spending or disbursement from the proceeds of cash revenues and all their flows, whether resulting from oil revenues currently or others in line with the provisions of Article 13 / first of the Financial Management Law Federal No. 6 of 2019 the aforementioned rate, which provides for the exchange rate of 12/1 of the total actual current expenditures that were achieved in the previous fiscal year 2021.”
He pointed out that “according to the text of Article 19/Second of the Federal Financial Management Law above, if the actual revenues exceed the total expenses or expenditures, including financing the established deficit, the surplus amount is deposited in a (sovereign fund) provided that there is a budget law, and
otherwise, the financial surpluses are what It was not decided to deposit it in a temporary reserve account, as
it will undoubtedly be an opening balance in whole or in part in the federal general budget for the year 2023.”
And he indicated that “financial behaviors (will shrink) in light of the data of the year 2021, despite the realization of financial savings in the absence of legislation of a law for the general budget.
Thus, the decisions of the market or the private sector in investment and economic activity will live in a state of uncertainty in making decisions that drive or contribute to the growth of The national economy,
as the annual public expenditures planned under the budget law represent the major demand force in the overall economy,
as their effects reach 85% of the joints of the national economy when the public budget is enacted and it is with its full powers and planned financial actions. https://nnciraq.com/124956/
In a (charming) style... Coca-Cola roams the streets of Baghdad to spread happiness in the month of Ramadan
Money and business Economy News – Baghdad The Coca-Cola Company confirmed its commitment to promoting the values of change, participation and spreading happiness, by supporting orphanages and people with special needs in Baghdad, explaining that the blessed month of Ramadan is the best occasion to implement these goals.
As part of its commitment to its social responsibility in Iraq, the activities organized by Coca-Cola during the holy month of Ramadan and targeting local communities and families contributed to giving a distinctive character to the holy month, as 5 carts toured to spread happiness within the Coca-Cola Caravan aimed at spreading real magic and achieving change through giving and sharing through Distributing gifts to parents and visitors in Dream City Mall, Al-Mansour area, and Al-Adhamiya area.
The Coca-Cola Caravan visited orphanages to provide breakfast and games for orphans and workers in the centers that included the Al-Zuhour Al-Alawiyy House, the Hisham Al-Dhahabi orphanage "The Safe House", the Baraem Al-Sulaikh House, and the Zahour Al-Adhamiya House in Baghdad. Thousands of Iftar meals were also distributed during Ramadan through partnership with the International Organization for Migration.
Coca-Cola partnered with the United States Agency for International Development ( USAID ) and the International Organization for Migration ( IOM ) in Iraq to support IADO to distribute the equivalent of 3 daily food parcels throughout the month to families with people with special needs ahead of Eid Al Fitr. An organization that brings together people with disabilities in Iraq organized group breakfast tables in its center in Baghdad, which included discussion sessions to enable people with special needs and their families to learn about best practices to maintain their mental health and face the associated social stigma.
Coca-Cola culminated its activities by organizing an Iftar banquet in Baghdad with the attendance of about 1,000 people in the famous Sinbad Garden in the heart of the capital on April 29, and the attendees participated in the Caravan of Happiness and received special prizes.
For his part, Coca-Cola Marketing Manager for the Middle East, Tarun Sephluk, expressed his happiness, saying that serving our society through making change, sharing and giving is one of our most important goals, indicating that the blessed month of Ramadan is the best occasion to promote these values, and to reflect the spirit of the holy month.
We were keen to organize events that bring together local communities, families and children in need with each other to consolidate the values of participation and giving and spread true magic and happiness, and from here we feel proud that we were able, with our packaging partners, Coca-Cola Ijigic - Iraq (-Oasis Beverages Company-) to give a more character Distinguish the month of Ramadan through the activities of Coca-Cola Caravan in addition to organizing one of the most distinguished Iftar tables in Baghdad.”
For his part, the head of the International Organization for Migration in Iraq, Giorgi Gigori, commented: "In addition to the happiness that various occasions bring, such as holidays, they may also constitute an emotional and financial burden on families that include members with special needs.
From here and in light of community work in Iraq to achieve Stability In light of the pressures that the country is experiencing, we are proud to partner with Coca-Cola, the United States Agency for International Development, and the Iraq Handicap Gathering to support members of society who may suffer from marginalization and promote societal inclusion.”
About the Coca-Cola Company in the Middle East
The Coca-Cola Company in the Middle East ( NYSE: KO ) specializes in soft drinks and offers more than 500 brands to individuals in more than 200 countries.
The Coca-Cola Company Middle East operations spans 12 markets including 6 GCC countries, Iraq, Jordan, Lebanon, Syria, Palestine and Yemen through 23 bottling plants across the region, under its umbrella nearly 20 sparkling soft drink brands including Coca-Cola. -Cola, Sprite, Fanta, Thums Up, QJ , Canada Dry, and Schweppes.
Our Beverage and Juice brands include Arwa, Crystal, Oasis, Dasani Minera , Pure, Minute Maid, Kapi, Fuze tea and Glasgo Vitamin Water.
The company affirms that it aims to contribute to the development process and bring about the required change, so we are constantly working on developing our brand to offer new and innovative products targeting everyone, noting that it seeks to positively impact the lives of people, communities and the planet through our sustainability initiatives, which include water renewal and waste management. and recycling as well as women’s empowerment initiatives while continuing to create a favorable ecosystem for its employees, partners and customers. Views 18 Date Added 04/30/2022 https://economy-news.net/content.php?id=27840
Government Decision And Was Taken With The Participation Of All Political Forces, While Indicating Successes In Confronting Uncontrolled Weapons.
Al-Kazemi said in an interview with the official newspaper, which was followed by / Mawazine News / that "we must first differentiate between the constitutional context and the crisis of the political process.
I have previously talked about that the current crisis is in essence a "crisis of confidence", because the political forces can get out of the current political blockage and make sacrifices or concessions here or there, if there is a mutual trust that frames the Iraqi political situation, so I think that the solution It is not in political discourses, but rather in an attempt to restore confidence.
And trust, here, does not mean the necessity of participation or the formation of the government or not, but rather, restoring confidence means that everyone in the government or in the opposition considers the constitution, laws, national constants, and state institutions to be the basic foundations. on which it is based.
We need a new atmosphere and deep discussions regarding the overall political situation, including agreement on fundamental constitutional amendments in order to begin steps to restore confidence, and then end political blockages, whether today or in the future.
Regarding the white paper, Al-Kazemi explained, “We must first take into account that the current government, which was honored to preside over it, came in an exceptional situation, and it had a basic and main task in front of it, which was to reach free and fair elections,
and (the current government) was not required to make economic transformations in the structure An economic imbalance that has accumulated or major economic reforms are proposed, and
everyone remembers the exceptional circumstances under which the government came: a suffocating economic crisis, low oil prices, and the outbreak of the “Corona” epidemic that affected all countries of the world and all aspects of life in an unprecedented way.
In fact, from the first month of the government’s life, I was required to provide the necessary funds to pay the salaries of employees, retirees, beneficiaries of social welfare benefits, basic state expenses, measures to combat the “Corona” epidemic, and basic security requirements, which are about 10-12 trillion dinars per month.
In contrast, the resources did not exceed The state at the time, especially in the oil sector, was a trillion dinars only because of the collapse in oil prices.
Yes, we overcame this bitter reality by all possible means and by all available methods, but I cannot be a false witness in front of our people, and I am not the type who bet on deceiving people. and mislead public opinion.
Therefore, I said and always say that the economic structure in Iraq needs a comprehensive reform in order to face the future and prepare for all crises and obstacles if they are repeated, and
we have succeeded within two years of the government’s work in achieving the highest rate of economic growth at the level of Arab countries, according to the reports of the International Monetary Fund,
which expected that the rate of economic growth would reach In Iraq, it increased to 9.5% during 2022 and 2023.
This growth was based on reformist beginnings.
We do not say that it was without errors, but it established a scientific reform approach for its building blocks.
Unfortunately, many of those who criticized the White Paper did not bother reading it and did not try to discuss it.
In the end, it is not a sacred text, but rather an attempt to save the economy of this country, and this (white paper) is subject to amendment, addition and updating according to local and international economic developments.
We said that the continued dependence on oil, which finances 95% of the country’s general budget, is a great crime and an unacceptable injustice against this generation in Iraq and future generations.
That is why we tried to reduce the budget’s dependence on oil and we succeeded in part, and this reduction must continue so that the oil resources are for the benefit of the Generations Fund and not for non-strategic monthly consumption".
Regarding the decision to change the dollar exchange rate, between the Prime Minister, he said, "It must be said that we did not put in our economic work any electoral or promotional goals, and
we say that real reform will not be achieved without suffering and damage, and this is the reality.
But we are with real, balanced reform that It needs treatments for the collateral damage caused by important decisions,
so in the 2021 budget, for example, and in conjunction with the change in the dollar exchange rate,
we raised the social welfare allocations in the general budget law to 3 trillion dinars, and
this number was allocated to the categories that we expected to be the most According to specialized studies,
we were not bidding on anyone, but we were dealing with the negative effects of the high exchange rate and improving the living conditions of low-income people.
But the brothers in the previous parliament refused to listen to our arguments in this regard and reduced the amount to less than 700 billion dinars only.
At the same time, they reduced the investment budget, which aimed at reviving the labor market, motivating projects, spinning the wheel of the local economy, and activating the role of the private sector.
That is why we say again, returning to the concept of trust in political action, that the country cannot advance without building confidence on all levels, especially in the relationship between the executive and legislative authorities to achieve harmony in reform steps and prevent clashes or interpretations that may have negative results.
Everyone knows that changing the exchange rate was neither a qualitative decision nor the decision of this government, but was preceded by studies that lasted for years, and
all forces were shared political and parliament before taking it, based on the fact that oil prices may not meet the minimum requirements of our people in times of crisis, and that we need to work together to correct the Iraqi economy.”
Al-Kazemi talked about the achievements in confronting the loose weapons and said,
Our accusation of not fighting uncontrolled weapons lacks two attributes: credibility, fairness and credibility, because whoever launches it must first review all the steps taken by the government in the file of uncontrolled weapons, and invoke the fact that this is not a temporary and instant decision taken by the authorities, but rather a thorny and complex file that contains political and social dimensions and religious,
and the government must confront it at several levels and with a patient and cumulative vision in the security act, and whoever reviews the conditions in 2020 with credibility and away from the atmosphere of opportunism and review, must admit that there has been a significant development in the security file at all levels, starting with resetting the outcomes of the social crisis produced by the demonstrations.
Popularity between 2019 and 2020, thus restoring the trust that was broken between the people and security institutions, drying up the sources of terrorism and breaking its thorns, besieging outlaws and working to apply the law to everyone without exception.
And I say that this accusation lacks fairness as well, because everyone who is just has to review the activities of murder, terrorism, organized crime and security turmoil in 2019-2020 and compare them with the reality we live in now.
Many and many legal accounts. Today, there are officers, associates, and employees who are sentenced to death or life after the law has been applied to them, and there are criminals who are being tried for transgressing the law, as is the case with death squads in Basra province, the killers of Hisham al-Hashemi, organized crime gangs and many others, not to mention the lurking terrorism.
The question here is: Are all its enough? Answer: No. Certainly we need more work to get things back in full order and bring everyone under the rule of law.
And the other question: Did something happen in this file?
Here I leave the answer not to political jurisprudence or media reviews, but to the Iraqi people, who have become more adherent to the law and more adherent to the state and an understanding of the complex circumstances and the minefield in which this government has walked, and therefore,
I do not ask for media or political justice because I am certain and confident that our people are equitable.
The tweet you launched translates the basic principles of any democratic system, which is that elections represent the natural way out of political crises, and that government formation mechanisms must be completed as defined by the constitution.
I headed a government for a transitional period and did what satisfied my conscience in performing my duties at this stage, but on the political level, it is still early to talk in this regard.”
With regard to the current year’s budget, Al-Kazemi added: “This topic has been under discussion during the past period, and we believe that it would be better if there was a government with full powers to present a draft budget law for 2022 with the terms and specifications required by the economic reform project and the political and economic transformations and challenges taking place in Iraq and the world.”.
As for its transfer to the next government, the matter depends on the speed of formation of that government, and there are immediate legal solutions that can overcome the damages that occur due to the absence of the budget.
Russia and Ukraine, the rise in oil prices, and consequently the high prices of goods and services globally and the inability to legislate the budget at the present time, and for this the “Food Security” law will enable the government to overcome the obstacles of the current crisis and provide cover to support the poor classes, support the ration card and finance many strategic projects that are threatened with suspension due to lack of funding.
He added, "If I may use the term 'password', then this word is the word I use internally, which is trust and credibility as well.
Some people understood politics as an opportunistic project, and this is a completely wrong concept.
I think that politics has many ethical aspects.
The most important of these aspects is building on commonalities and building trust.
A country cannot develop naturally apart from its neighbors, and all countries of the world must have good and sound relations with everyone. God has blessed Iraq with an important geostrategic location in the region and the world, and this location requires us to be a point of convergence and not a point of intersection.
Al-Kazemi concluded his dialogue by talking about the mediation between Iran and Saudi Arabia that Iraq adopted and added: “Yes, Iraq has a direct interest in achieving understandings between the countries of the region and achieving regional stability, and
we have good relations with the two parties and with various regional and international parties, we were able to create a positive dialogue atmosphere on the The land of Iraq, many of which have not been announced.
The brothers in the Kingdom of Saudi Arabia and the Islamic Republic are dealing with the file of dialogue with high responsibility and the requirements of the current situation in the region, and
we are confident that the understanding is soon, God willing, and there is a real and wide breakthrough in the relations between all the countries of the region, backed by conviction.
Firm and sound intentions that the future of the region depends on starting to view it as a system of converging and not intersecting interests, and that this system cannot devote itself to economic construction and catch up with global development without solving its problems and zeroing its crises.
https://www.mawazin.net/Details.aspx?jimare=191698
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