Iraqi News Sunday AM 7-18-21
Iraqi News Sunday AM 7-18-21
TLM724 Administrator BondLady’s Corner
Market Reality Has Exceeded The Rate Of Devaluation
Sunday 18 July 2021 126 Baghdad: Hussein Thaghb The reality of the local market has become bearing significant negative effects on the family’s economy after the prices of market supplies rose to great levels, as the rise came in rates that far exceeded the rate of devaluation of the currency, which some adopt as an excuse to raise prices, and between the inflamed market prices and the decision to cut, confusion rises in the face of a large segment of Iraqi families.
The economic expert, Basem Jamil Antoine, said: "The observer of the reality of the local market indicates a defect in most joints of the market, and there is a decline in demand that affected all market supplies, which came as a result of the decision to reduce the value of the national currency by a percentage that affected the reality of the market."
Antoine pointed out that "many important resources have increased their prices to levels exceeding 50% from the previous one, due to some people exploiting this decision and adopting it as an excuse to raise prices by large percentages, especially since the decision to devalue the currency was by 22%, which indicates the existence of a defect in the reality of the market." ".
hard working
He pointed out that "the rise in prices without treatment leads to the expansion of the base of families living below the poverty line due to their low income, which requires serious work to increase the social protection network subsidies and the poor segments, as well as attention to the ration card items and its quality," explaining that "the high prices Local market offerings lead to poor families abandoning many of the necessities required by daily life.
radical treatments
Antoine stressed that "the reality of the situation requires radical treatments and benefiting from global experiences, as well as working seriously to pay attention to the fragile levels in society and transfer them to a better level."
Noting that "such a decision requires that it be at regular intervals and in certain proportions, and each period is studied by specialized committees to mitigate the impact on the local market, which must adhere to a balanced import policy that maintains prices within acceptable rates, and supports the local product."
Double prices
In turn, a member of the National Business Council Ahmed Al-Rikabi said that "the reality of local prices is affecting the income of Iraqi families and the rise in prices in many of its joints can be described as abnormal, as the tracker of the reality of prices indicates the presence of some materials whose prices have doubled, which requires the intervention of the relevant authorities to address The matter and the presentation of all materials at prices commensurate with the rate of devaluation of the national currency."
He stressed that "some materials that were banned from being imported by the Ministry of Agriculture are offered in the market at double their previous price, and this requires a pause from the authorities." Related". LINK
Economic Reform Laws
Sunday 18 July 2021 242 Yasser Al-Metwally There are many laws that have been enacted regarding economic reform since the change in 2003 until now, but to no avail.. So where is the defect in not achieving the required reform?
Laws legislated, the majority of which are based on the vision and results of studies by experts and those interested in economic affairs, and the remaining part is sometimes improvisational and intersects with the basic goals, so it is called “prosthetic solutions.”
According to this description, our problem is not with the laws and legislations, especially the solid laws, which are the majority, but the knot in the implementation of these laws and their application on the ground, so do not touch real economic reforms in reality.
So we have a real and actual need to search for the reasons for not implementing good economic reform laws.
Here it is necessary to clarify some facts in order to correct the course of economic reform to achieve meaningful development. One of the most important means of implementing laws is the development of simplified mechanisms for implementation, while it is customary to release laws without implementation mechanisms.
Moreover, the character of obligating the implementation of laws is a very important issue. Otherwise, what is the benefit of legislation or a reform law unless it is binding on implementation?
The implementation process also requires the availability of follow-up and monitoring committees on the implementation, and conducting studies and surveys on the impact of the implementation of laws on the sector targeted for reform; To avoid challenges and failures before its spread.
This is related to the quality of administrative performance, because successful and sound management is the basis for reaching the goals envisaged by any reform law. For this reason, the call and the need for the development of administrative human capabilities are renewed by including them with training courses to develop their capabilities to quickly and accurately implement laws to achieve goals.
Moreover, the need requires a careful review of the laws of economic reform in consultation with economic expertise and academic competencies and reformulating them in line with the stage of change and the major transformations imposed by the Corona pandemic and financial crises, and in line with the stage of digital transformations and the digital economy and everything related to the means of development with the development of realistic implementation mechanisms for laws Economic reform according to the changes taking place.
Here remains the need to raise the efficiency of the administrative performance of workers to implement the mechanisms of reform laws.
And we have {God willing} high quality centers of expertise, houses of expertise, and many important training centers. We just need seriousness and real will to achieve the required economic reforms. LINK
A Slight Increase In The Exchange Rates Of The Dollar In The Local Markets
Economie| 10:35 - 07/18/2021 Baghdad - Mawazine News The dollar exchange rates recorded, on Sunday, a slight increase in the main stock exchange and local markets in the capital, Baghdad.
The dollar exchange rate on the Central Kifah Stock Exchange in Baghdad rose today, recording 148,250 dinars, for each $100 bill.
The prices of buying and selling the dollar in the banking offices and local markets in the capital, Baghdad, also increased, as the selling price reached 148,750 dinars, for each denomination of 100 dollars, while the purchase prices amounted to 147,750 dinars, for each paper denominations of 100 dollars. https://www.mawazin.net/Details.aspx?jimare=160952
Direct Investments Boost The Economy
Sunday 18 July 2021 128 Baghdad: morning The economic affairs specialist, Fawzi Muhammad Al-Zobai, stressed the importance of adopting direct investments in implementing development projects in all regions of the country, overcoming economic problems and employing youth.
He said that "direct investment experiences have achieved great success in various regions of the world, as it exceeds several determinants, foremost of which are customs and others related to transportation costs," noting that "the country contains many investment opportunities that can be invested." relying on it.”
He pointed out that "it moves capital to implement projects more easily when adopting traditional investments," noting that direct investment has achieved many successes in different countries, and those experiences can be benefited from. locally.
And he indicated that "the expansion of direct investments activates the productive capacities within the country in the industrial and agricultural sectors, by providing the environment."
suitable for production.
To this, a member of the Federation of Businessmen Mahmoud Mehidi indicated that "the success of direct investment lies in the possibility of overcoming the various challenges that confuse investment work, which necessitates us to pay attention to the issue of direct investments, as work in Iraq requires a great and qualitative effort that is heading the country to economic safety Benefiting from the great wealth that leads to the internalization and expansion of the capital cycle of development activities. LINK
The White House: Biden Looks Forward During Al-Kazemi's Visit To Strengthening The Cooperation Of The Two Countries
Sunday 18 July 2021 270 Baghdad: morning Yesterday, Saturday, White House spokeswoman Jen Psaki confirmed that US President Joe Biden is looking forward, during Prime Minister Mustafa Al-Kazemi's visit, to strengthening cooperation between the two countries.
Psaki said, in a statement: "Biden looks forward to welcoming Al-Kazemi to the White House on the 26th of this month."
She added, "Al-Kazemi's visit will highlight the strategic partnership between the United States and Iraq and enhance bilateral cooperation in the Strategic Framework Agreement," noting that "the visit will also focus on key areas of common interest, including through education, health, culture, energy and climate initiatives. ".
Psaki indicated, "Biden looks forward to strengthening bilateral cooperation with Iraq on political, economic and security issues to include joint efforts to ensure the lasting defeat of the gangs." ISIS terrorist. LINK
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