Iraqi News Sunday Afternoon 11-7-21
Iraqi News Sunday Afternoon 11-7-21
TLM724 Administrator BondLady’s Corner
Planning: mega projects within the 2022 budget
Posted On 2021-11-07 By Sotaliraq Baghdad: Omar Abdul Latif The Undersecretary of the Ministry of Planning, Maher Hammad Johan, revealed that there is an effort to include giant projects in the 2022 budget, expecting their ability to cover basic expenses, and that their deficit will be less than the current year's budget.
Johan said, “It is possible for next year’s budget to provide an initial ability to move the economy that has been exhausted from the Corona pandemic,” noting that “there is an effort to include projects that did not enter into force in this year’s budget within the 2022 budget, especially those giant projects that relate to With people’s services, such as providing combined cycles in electric power, the railway, Nasiriyah and Mosul airports, and infrastructure in Basra Governorate, as well as a quick response to the peak of bottlenecks in cities.”
And he indicated that "all governorates have begun to breathe a sigh of relief due to the presence of budgets that move infrastructure projects, such as those that absorb the labor market in any name and satisfy people with the services provided to them."
Regarding job grades, Johan pointed out, “Any budget did not lack these grades even in the worst circumstances, noting that the issue is related to the Federal Service Council and the state’s ability to absorb more citizens into the public service.”
The Undersecretary of the Ministry of Planning explained, “Iraq needs the “works program” proposed by Parliament, which proceeds with more absorption of the capabilities of the flabby public job, and opens paths for more important job opportunities for citizens at the level of the secured private sector, with their sense that the opportunity that was provided to them is the best, And that they are socially and health protected from any emergency situation they are going through.” LINK
Al-Halbousi: Targeting The Home Of Prime Minister Mustafa Al-Kazemi Constitutes A Real Threat To Security And Stability In The Country
Sunday 07 November 2021 12:57 | political Number of readings: 306 Baghdad / NINA / - The head of the Progress Alliance, Muhammad Al-Halbousi, confirmed that targeting the house of Prime Minister Mustafa Al-Kazemi constitutes a real threat to security and stability in the country.
Al-Halbousi said in a tweet on "Twitter", "What happened at dawn this day of targeting the house of the Prime Minister constitutes a real threat to security and stability in the country, and it is a deplorable and irresponsible act that seeks chaos.
" He added: "Our sincere call to everyone to work seriously in order to miss Opportunity for the enemies of Iraq and to cross the homeland to the bank of safety.”/ https://ninanews.com/Website/News/Details?Key=937726
Finance Is Proceeding With Issuing Orders To Designate This Category
Sunday, November 7, 2021 3:04 PM Baghdad / National News Center Today, Sunday, the Administrative and Financial Department of the Ministry of Finance began issuing administrative orders for the appointment of political dismissals and records of calculating the duration of political dismissal and those covered by the institution’s law.
A ministry statement received by the "National News Center" stated that "the department issued 30 ministerial orders during the month of November of this year."
He added, "While 154 ministerial orders were issued to appoint employees to the owners of the Public Retirement Authority as a first meal during the past two months, based on the distribution and approval of the General Secretariat of the Council of Ministers."
The statement continued, "Also, 72 accounts were approved, which is the duration of the political term."
The Department of Finance affirmed that it "continues to complete all transactions of the dismissed political persons, in order to grant this important segment all their rights." https://nnciraq.com/99953/
A Significant Increase In The Exchange Rates Of The Dollar In The Local Markets
Economie| 10:23 - 07/11/2021 Baghdad – Mawazine The dollar exchange rates recorded, on Sunday, a remarkable increase in the main stock exchange and local markets in the capital, Baghdad.
The exchange rate of the dollar rose on the Central Kifah Stock Exchange in Baghdad, today, recording 148,250 dinars, in exchange for each $100 bill.
The prices of buying and selling the dollar also increased in exchange companies and local markets in Baghdad, where the selling price reached 148,750 dinars, for each paper denomination of 100 dollars, while the purchase prices amounted to 147,750 dinars for each paper denomination of 100 dollars. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=173968
Banking, Investment And Development
Sunday 07 November 2021 201 Yasser Al-Metwally The eyes of the giant investment companies around the world are directed to the presence of sober banks that possess high technical capabilities and financial solvency, and can provide their services to them to the fullest, and to meet the needs of companies to attract their investments to a country or even in their own countries.
From here we have to realize the importance of the banking sector for any country as it is the main link for development by attracting investment.
Therefore, banks are one of the pillars and basics of investment and development requirements.
Where are we from this concept?
There are no comparisons between the role of banks in development here in Iraq than in other regional and Arab countries, and we do not say global for the purposes of comparison. The reason is definitely the size of the challenges that the banking sector has faced, most notably the lack of mutual trust between banks and customers, which expanded previously and now trust has returned to some extent. .
This challenge led to the weakness of the public's deposits with banks, as well as to the weakness of credit, which created a rift in the objectives of establishing private banks in particular, and certainly weakened their banking services at a time when they are relied upon to play a role in development.
Then comes the other challenge and in the same context, as public banks acquire the majority of government deposits, if not all of them, which are almost frozen funds without providing them to the investment market except rarely.
This contradicts the spirit of the free economic system, which is supposed to be the approved approach in accordance with the constitution. These challenges make private banks embarrassed in front of the world and society's view of their supposed role in achieving development. But for the truth and for the press honesty, we say that the banks have taken a role in development to be reckoned with, and it is a successful start that the banks grabbed by presenting some successful attempts to support development projects.
What is required of this fact?
We need to reconsider the nature of the laws and instructions in force in order to achieve financial leverage that helps private banks play their required role in development. If this goal is achieved, i.e. enabling banks to move the elements of development through credit by supporting production and service projects, this success will be reflected in attracting global investments through partnership between them and the banking sector and the private sector with its other arms.
The role of the banking sector by supporting various development programs through lending small and medium projects, as well as housing projects, has become clear. Perhaps what the initiatives of banks have provided in supporting the social responsibility of banks through the Tamkeen Fund is the best witness to the vital role in revitalizing the basics of development.
For this reason, we said and affirm that the tripartite syndrome between banking, investment and development is the basis for building the country and achieving economic growth in Iraq.
It remains to be asked: Will the banking sector witness support from the next government to take its required role and achieve the world and society's view of its desired role in real development.. We meditate and watch to see?!. LINK
Cabinet Secretariat: The wheel of project completion has returned to rotation
Sunday 07 November 2021 155 Baghdad: Farah Al-Khafaf The General Secretariat of the Council of Ministers confirmed the return of the project completion wheel to rotation after efforts it made with other concerned authorities that resulted in achieving advanced completion rates for a number of lagging projects. A spokesman for the General Secretariat of the Council of Ministers
Haider Majid to {Al-Sabah}: {Cabinet Resolution 142 of 2020 assigned the Secretary-General of the Council of Ministers, Hamid Al-Ghazi, to head the committee concerned with following up lagging projects.
Noting that {one of the projects that has lagged for years is the school building project, a project that has been subjected to many stops, and during this year its file was referred to the Executive Administration of Schools in the General Secretariat of the Council of Ministers, despite the presence of many technical, administrative and legal problems, and they are 11 legal problems.}
Implementing Companies
He added that {the General Secretariat has succeeded in solving 10 legal problems, and the last file will soon be resolved, especially since there were financial problems between the implementing companies and the Ministry of Education, as well as sub-projects between the executing company and the subcontractor, and financial obligations on the Ministry of Education}.
He revealed that {a meeting chaired by the Secretary-General with the implementing companies for the Ministry of Education resulted in moving the file, as a warning was sent to the companies of the necessity of adhering to the set timelines, and they were given a specific time to reach advanced completion rates, and on the contrary, the work will be withdrawn and the companies will be referred to the black list. and depriving her of working in Iraq.
Executive Management
The Council of Ministers had approved a decision to refer the implementation of (1,000) model schools in all governorates to Chinese companies. To be implemented through the executive management of the national project to build schools in the General Secretariat of the Council of Ministers, as it will contribute to breaking the momentum of school buildings.
Majeed pointed out that {the Secretary-General gave a period of 3-4 months to the implementing companies to increase the pace of work and double the effort, in return, any positive and advanced achievement will be met by the fact that the state will fulfill its obligations, and the companies will receive their financial dues according to the percentages of achievement}, indicating that {during the previous months of This year, the General Secretariat of the Council of Ministers received 74 schools across Iraq, and more than 40 schools are under construction during the next two months.
Framework Agreement
The Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, had recently announced the completion of all preparations for preparing plots of land for the construction of school buildings within the Iraqi-Chinese framework agreement, while noting that the model schools project opened for the rest of the strategic projects in provinces.
And the official spokesman continued: {There have been many stalled and lagging projects for more than 10 years, especially since from 2014 to 2018, there was a financial crisis due to the war that Iraq entered with terrorist gangs, as the budget was directed mostly to support the armed and security forces and the crowd,
And after 2018 to 2020, the crisis of demonstrations that pervaded all cities of Iraq, as well as the resignation of the government, the Corona pandemic, and the economic situation all affected the projects that led to their suspension, but the Supreme Committee for Services and Reconstruction and the General Secretariat of the Council of Ministers stood on many projects in all governorates and in all levels}.
Achievement Percentages
Majeed stressed that {the projects are currently progressing at a high pace, and advanced rates of completion are recorded according to the data that reaches the General Secretariat through the supervisory committee}, pointing to {the opening of the first phase of the Baghdad-Babil road, and the Dora-Yusufiya project, which has been suspended for 9 years, and reached To advanced rates of completion after the General Secretariat supervised the solution of the problems between the sectoral bodies, in addition to the presence of many vital projects that the General Secretariat of the Council of Ministers is working on and with government guidance to expedite their completion. LINK
Financial Inclusion And The Formula For Achieving Economic Development
Sunday 07 November 2021 141 Baghdad: Imad of the emirate Financial inclusion is achieved by enabling members of Iraqi society to obtain an integrated set of good financial services at reasonable prices, low costs and an appropriate manner, in a way that contributes to poverty reduction, economic development and financial stability.
Dean of the College of Business Administration at Al-Nahrain University, Dr. Nagham Hussein Nehme, said: {Achieving financial inclusion for its goals requires the cooperation of all financial and banking institutions in the public and private sectors, mobilizing their financial resources and benefiting from their expertise;
In order to simplify the regulatory and supervisory procedures that ensure the improvement of the financial infrastructure), indicating: {the importance of diversifying sources of financing, developing financial and banking services, and introducing financial technologies, taking into account the level of risks that may occur and spreading financial education among the public, and then these efforts support the promotion of financial inclusion, and here We say that financial inclusion issues should be presented as policy priorities economic }.
Financial Services
Nehme added that “the means and mechanisms for achieving financial inclusion are achieved by promoting geographical spread and expanding the network of branches and financial service providers, and paying attention to the establishment of branches and small offices for financial service providers, especially for microfinance, as well as establishing access points for financial services such as bank agents, telephone banking, points of sale, and money changers. The mechanism, insurance services, securities and others in accordance with the legislation Country}.
He pointed out that {Achieving the goals of financial inclusion requires the development of national payment and settlement systems, especially of small value, and this works to facilitate the implementation of financial and banking operations and their settlement between providers in a timely manner to ensure the stability of financial services.}
Financial Education
In turn, the economic affairs specialist, Dr. Amr Hisham, pointed out that “the success of financial inclusion is achieved through financial education and the awareness and ability of community members to test the appropriate financial products and services for them.
The issue of financial education has gradually gained importance all over the world, and many countries have developed national strategies To learn and financial culture in order to reduce or prevent the negative effects of low levels of literacy and to enhance the daily life skills of community members.” He continued that {strengthening the mechanisms of financial inclusion in Iraq is important in expanding the circle of beneficiaries of financial services for individuals and achieving sustainable economic development that reduces poverty rates}. LINK
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