Iraqi News Sunday AM 3-21-21
Iraqi News Sunday AM 3-21-21
TLM724 Administrator BondLady’s Corner
Representative Economic: Reducing The Price Of The Dollar Does Not Need To Dismantle The Budget
14:26 - 21/03/2021 The information / Baghdad .. Member of the Parliamentary Economic and Investment Committee, Mazen Al-Faily, confirmed, on Sunday, that reducing the price of the dollar does not need to dismantle the budget, indicating that the measures are a sport that needs political understanding. "The talk about reducing the dollar's price is serious and cannot be undone, and it is supported by many political blocs, and if it is not implemented, the political blocs will boycott the sessions," Faily said in a statement to / the information.
He added, "The current price of the dollar has hurt the simple citizen and raised the prices of goods significantly, as it can be reduced mathematically by raising the speculative price of oil in the budget and setting the dollar price at about 1250 per dollar at the very least."
"The budget does not need to be dismantled, but rather it needs to reduce the deficit and raise additional items in the budget, most notably the pressure of government expenditures significantly."
https://www.almaalomah.com/2021/03/21/526374/
Economist: Budget Delay Makes Iraqis Poorer .. And He Suggests An Alternative To Preparing It
Time: 03/21/2021 14:39:32 Read: 3,406 times {Baghdad: Al Furat News} Economic expert Bassem Jamil Antoine warned, today, Sunday, of the delay in adopting the draft federal budget bill for 2021.
Antoine told Al-Furat News Agency that "the losses of the budget delay cannot be calculated in numbers, but with estimates, and there is a continuous disbursement of 1/12, but there are many projects that are dependent on the budget and are estimated at 6000 projects for the Ministry of Planning."
And that "contractors have become indebted to the banks and the private sector is greatly affected because it depends on daily work," explaining that "the poor class is the victim, and this will increase the rates of poverty and unemployment in society at the same time, and increase by 30%, 32% poverty."
Antoine added, "The rise of the dollar and the decline of the dinar led to monetary inflation and a decrease in the purchasing power of the citizen, which led to a contraction in the market. Some weak souls took advantage of this issue to raise prices for oil, sugar and other materials."
The economic expert pointed out, "the decline in the gross domestic product of Iraq from 240 billion dollars to 160 billion dollars, and there are large losses that led to the cessation of this production, especially with the lack of issuance of the budget."
Antoine suggested that the House of Representatives leave preparing the budget for university professors and economists to draw up a professional, not a political, budget, noting that “budgets must be drawn up without renewal and additions because there is no understanding of the budget schedule, its importance and results, and this is what created confusion and chaos and led to stubbornness and political stubbornness.”
And that the House of Representatives, yesterday, Saturday, failed again to vote on the draft fiscal budget for 2021.
The Speaker of the House, Muhammad al- Halbousi attributed this to “the continuation of discussions on the draft budget law, and to give the opportunity to the relevant committees for further review and scrutiny, it was decided to postpone the vote on it until next Saturday. ". LINK
Al-Haddad: We Are Optimistic About Overcoming Crises And Resolving The Outstanding Issues Between Baghdad And Erbil
Time: 03/21/2021 11:53:42 Read: 2,236 times (Baghdad: Al Furat News) The Deputy Speaker of Parliament, Bashir Khalil Al-Haddad, today, Sunday, presented the most elegant and blessed verses of congratulations and blessings to the people of Kurdistan, and to all Iraqis, on the advent of Nowruz and the Kurdish New Year holidays.
Al-Haddad sent, in a statement, the Evert News, a copy of which he received: “Congratulations to all the peoples celebrating this day in the world, and he also congratulated the Iraqi people on the Tree Festival and the Spring Weddings.”
Al-Haddad expressed his "optimism about overcoming political differences and crises and resolving the outstanding issues and files between Baghdad and Erbil within the framework of the constitution and the requirements of the supreme national interest."
Recalling at the same time "the will of the revolutionaries that shook the thrones of tyrants and oppressive rulers on this day, and the announcement of a new dawn that carried with it the meanings of will and freedom."
He concluded: "Nowruz tells the story of a people who love freedom and reject all forms of tyranny and injustice to future generations." LINK
International Banks And Prospects For The Advancement Of Iraqi Banking
Sunday 21st March 2021 73 Baghdad: Morning The consolidation of the Iraqi banking system’s cooperation with major international financial institutions indicates that the work of the Iraqi financial sector is moving in a direction consistent with the trends.
International.
A financial sector expert and former director general of operations at the Central Bank of Iraq, Mahmoud Dagher, stated that "the patterns of financial management in Iraq indicated a clear improvement, and that the success of the financial sector can be diagnosed through joint cooperation between international financial organizations and major global banks."
International borrowing
Dagher stressed "the necessity of directing international borrowing towards strategic productive and investment projects that achieve sustainable benefit for the local economy, especially since Iraq is one of the rich countries that can achieve a rapid economic recovery, when the appropriate atmosphere is available."
The best products
Stressing that the plans to develop financial performance represent the direction of the banking system in the country, as competition is most intense among all banks in order to provide the best products that attract the customer, and this is a health condition that reinforces the reality of local banks and the financial sector.
Expansion plans
On the other hand, an expert on financial affairs, Muhammad Jaber, stated that “the banking system cannot work without ambitious horizontal expansion plans that achieve benefits for the largest segment of customers. 10 thousand people »
Investment and financing
Pointing out to «the importance of creating an environment that prepares the banking system’s orientation to enter into the fields of investment and financing for projects after careful economic study by specialized committees and then adopting the appropriate decision for this matter. It is also imperative to develop banking products, which must be the main concern of all Banks without exception » LINK
In The Document, Al-Halbousi Refers The "Sovereign Fund" Project To The Government
Time: 03/21/2021 09:23:01 Read: 3,887 times {Politics: Al Furat News} The Speaker of Parliament, Muhammad al-Halbousi, has directed that the "sovereign fund" project be referred to the government for legislation.
The project submitted by the representatives of the Sairoun bloc, Anam Al-Khuzaie and Naji Al-Saidi, was referred to the Council of Ministers to state its opinion on the sovereign fund after the Parliamentary Legal Committee confirmed that "the project meets the formal conditions in the constitution and the internal system of the House of Representatives, and that the reasons on which the project was based require its legislation.
" Representative Al-Khuzai called for the legislation of the "sovereign fund" because of what she called "the large exposure" of the general budget to oil revenues and because of the periodic fluctuations in oil prices in world markets.
She emphasized, "The Iraqi economy periodically goes through a severe financial impasse that paralyzes all economic sectors, generating a long economic recession, and in order to avoid oil price shocks and maintain stability of revenues to protect economic activity, we called for the immediate start of the establishment of a multi-purpose sovereign fund in which the abundance of oil achieved due to high prices is deposited." Market oil exceeds the price fixed in the federal budget. "
Al-Khuzai indicated that the project "includes three funds; the first is concerned with stability and preserves a part of the oil financial abundance and is used to compensate for the decline in oil revenues in times of crisis to maintain the stability of revenues and to ensure comfortable financing for government expenditures. The second fund is concerned with investment as it maintains a specific part of the financial abundance and revenues are invested." This fund is in securities guaranteed to guarantee the rights of generations to depleted oil wealth. The third fund is related to debt and is also financed by financial abundance in order to extinguish sovereign debts and LINK
Barham Salih: There Will Be No Retreat From Meeting The People's Demands
Sunday 21st March 2021 147 Baghdad: Morning Yesterday, Saturday, the President of the Republic, Barham Salih, congratulated the "Newroz holidays", stressing that there would be no retreat from meeting the people's demands.
In his congratulations, Saleh called for "resolving the outstanding issues between the federal government and the Kurdistan region, a just and legal solution that preserves the rights of Iraqis, including the rights of citizens in the Kurdistan region, and the adoption of constitutional and legal contexts that leave no room for manipulating the rights of citizens."
He stressed that "there will be no retreat from achieving the people's demands to reform the system of government and curb the scourge of corruption by strengthening the state of institutions, and looking forward to building a capable, capable and sovereign state, and holding fair elections as scheduled and protecting them from fraud and manipulation to restore confidence to the Iraqis in their constructive role and their vision of the stage." Coming. "
On the other hand, the President of the Republic discussed, during his reception at his residence in Sulaymaniyah, the head of the Popular Mobilization Authority, Faleh Al-Fayyad, "the political and security developments in the country, and the importance of concerted efforts to enhance the security and stability of citizens."
Saleh stressed the need to "continue the security effort to combat terrorism and pursue ISIS cells that are trying to destabilize some areas, in addition to strengthening the authority and sovereignty of the state, and supporting its security services in protecting the security of citizens, and protecting societal peace." And public security. " LINK
Iraq Calls On Arab Companies To Contribute To The Reconstruction
Sunday 21st March 2021 123 Cairo: Israa Khalifa Iraq called on all Arab and African companies and federations working in the field of construction and building to seize the opportunity to obtain part of the reconstruction projects and take advantage of the facilities granted by the Iraqi government.
The Iraqi ambassador to Cairo and his permanent representative to the Arab League, Ahmed Nayef Al-Dulaimi, said during his participation in the "Arab African Forum for Construction and Building Contractors": "Iraq has emerged from the anti-terrorism phase and is today in the building and construction phase, and the best proof of this is the presence of contracting companies."
From various countries in the Iraqi provinces, which have started work on the reconstruction file. " Al-Dulaimi stressed that "the relations between Iraq and the brotherly countries are very good in all their aspects," indicating that "we" LINK
Pharmacists Syndicate Launches The "Pharmaceutical Dollar" Project
Sunday 21st March 2021 228 Baghdad: Omar Abdul Latif The Pharmacists Syndicate announced the preparation of a bill called the "drug dollar", with the aim of restoring drug prices to what they were before raising the exchange rate of the US dollar.
The second deputy to the Pharmacists Syndicate, Dr. Amjad Haseeb, said in an interview that was singled out for “Al-Sabah”: “The Syndicate prepared the (Medicinal Dollar) project and it was handed over by the Pharmacists Syndicate to the Prime Minister and Minister of Health,” indicating that “the Syndicate has not yet received an answer. Clear or support for what was stated in this project.
He added that "the process of importing medicines is subject to the process of the exchange rate of the dollar circulating in the market," indicating that "this bill obliges banks to make the exchange or conversion process into dollars for licensed pharmaceutical offices, according to the previous price without any increase."
Haseeb added: "Drug importing offices can sell medicines to pharmacies within the framework of the previous pricing, and obligate them to specific prices within the national system without the increase in the types of medicines, which amounted to 20 to 25 percent." LINK
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