Iraqi News Thursday AM 6-24-21
Iraqi News Thursday AM 6-24-21
TLM724 Administrator BondLady’s Corner
Dollar Prices In Iraq Record A New Decline
Pratha News Agency136 2021-06-24 The exchange rates of the dollar fell today, Thursday, against the Iraqi dinar in the main stock exchange in the capital, Baghdad, and the exchange shops.
Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded 147,300 Iraqi dinars for every 100 US dollars, after it registered, during its opening yesterday, Wednesday morning, 147,600 Iraqi dinars.
Selling prices in money exchange shops in the local markets in Baghdad decreased to 147.750 Iraqi dinars, and purchase prices to 146.750 dinars per 100 US dollars. http://burathanews.com/arabic/economic/394983
Parliamentary Finance Hosts The Minister Of Finance Regarding The Implementation Of The 2021 Budget
06/24/2021 The Finance Committee, headed by Representative Dr. Haitham Al-Jubouri, Chairman of the Committee and the presence of its members, hosted on Thursday 24/6/2021 the Minister of Finance Ali Allawi and the Director General of Accounting in the Ministry regarding the implementation of the Federal General Budget Law for the year 2021, and a follow-up to what was stated in the previous hosting of the Committee for the Governor central bank .
At the beginning of the meeting, which was held at its headquarters, the committee discussed the issue of activating the inactive materials in the budget and the mechanism of law enforcement, as approved by the House of Representatives.
The committee made it clear that it made a great effort in adding reform materials in the budget that would maximize non-oil state revenues such as taxation and imposing a fee. Airport and the automation of border ports and customs. The committee has indicated that the issue of automation has been suspended so far, despite the many claims and correspondences regarding that.
The Finance Committee emphasized the necessity of activating petrodollar funds as stated in the budget text, despite the government’s submission of an appeal regarding this, and this matter does not prevent the text from being activated because of its benefit to the oil-producing governorates. Eighth, regarding petrodollar funds.
The committee also discussed the Ministry of Finance’s procedures regarding the job number and the biometric system for employees, as it is an absolute necessity, as indicated by the committee in Article 12 of the Budget Law, as well as the steps taken by the ministry to confront the negative effects of raising the currency exchange rate on citizens.
The Finance Committee also addressed the issue of government banks and the Ministry's steps to carry out actual reforms in this important sector by relying on efficient national experiences in this field, as the Committee included in the budget law paragraphs that support industrial and agricultural banks.
The committee called on the Ministry of Finance to address all ministries in full compliance with the budget law and the application of its paragraphs, calling at the same time to expedite the launch of investment allocations for the governorates to start completing the lagging projects.
From his side, the Minister of Finance provided an explanation regarding the questions raised by the Finance Committee regarding the implementation of the budget, confirming the ministry's initiation of procedures for automating ports through an advanced electronic system that will be implemented soon.
The Minister of Finance also explained that the ministry is following up on the rise in prices in the markets, which accompanied the change in the exchange rate, revealing at the same time the recovery of the local market soon. Media Department House of Representatives May 24, 2021 LINK
Reform And Recovery..A Plan Until 2023
Thursday 24 June 2021 163 Baghdad: morning The Ministry of Planning is preparing to launch a plan responsive to reality and challenges under the name of "reform and recovery" to be implemented until mid-2023, while this plan is considered a complement to the five-year development plan for the year 2018-2022. A delegation headed by Minister of Planning Khaled Batal Al-Najm discussed with US officials the prospects for joint cooperation in the economic fields development and encourage companies to invest in Iraq.
The official spokesman for the ministry, Abdul-Zahra Al-Hindawi, told Al-Sabah: "The ministry has prepared the plan that responds to reality and challenges, or the reform and recovery plan, which is two years old.
He added, "The new plan is complementary to the five-year development plan for 2018-2022, which took into account the conditions that Iraq experienced with the Corona pandemic and the financial crisis and its repercussions."
He explained that "the plan is based on three main axes, the first includes supporting and developing the private sector and diversifying the sources of the economy in general, and the second is the social related to services and infrastructure, including health, education, housing and the return of the displaced, while the latter includes spatial development or addressing development gaps in Iraq according to of the maps or the vision that the ministry had set earlier.
Al-Hindawi stated that "the main focus in these plans is the youth, because they are a very large segment of society, amounting to 68 percent of the country's population, as there is a tendency to absorb them within the development plan, adopt long-term policies and create real partnerships between the private and public sectors to generate job opportunities and improve the public sector."
Health, education and the basics of life. Al-Hindawi pointed out that "the ministry worked towards regulating the work of companies in two axes. The first relates to government contracts and the need to be in compliance with the regulations of the instructions for implementing government contracts No. 2 of 2014, and on the other hand, granting classification degrees to contractors and companies according to the company's material capabilities and qualifications, and all ministries must work within government regulations.
For his part, Minister of Planning Khaled Batal Al-Najm, who is visiting the United States of America at the head of a government delegation, which included Minister of Immigration and Displacement Evan Faeq Jabro and a number of officials from the Ministries of Planning and Immigration and Displacement, held a series of meetings and discussions with US officials and government agencies to discuss prospects for joint cooperation between the two countries. In the developmental, economic and investment fields, and ways to develop them This visit comes to clarify investment opportunities in Iraq and encourage American companies and businessmen to invest in various sectors and to discuss cooperation with the Bank, the International Monetary Fund and others. LINK
Invitations To Establish Companies Specialized In Iraqi Exports
Thursday 24 June 2021 139 Morning: Kazem Al-Hinnawi The Samawa Chamber of Commerce organized a workshop for the establishment of companies specialized in Iraqi exports and exports and the mechanism of application by default through its electronic platforms, during which an introduction to companies specialized in exporting, how to register them, their application in Iraq, and their requirements, was presented.
Application mechanism
Statistics Al-Jubouri, director of the Samawa Chamber of Commerce and Commerce, said that the topic of the workshop aroused the interest of members of the Muthanna Chamber of Commerce, specialists and importing traders because of its importance in clarifying the mechanism of application by default and on the platform of our website.
And its application in all governorates of Iraq, and the requirements for granting the company an import identity, through the first step, which is the statement of official documents and documents and the official documentation of the company with the specialized authorities in the Ministry of Commerce, the Registrar of Companies, as well as the General Company for Exhibitions and Commercial Services.
He pointed out that {the financial costs of this step require amounts that depend on the type of the company and the nature of its activity, and that the local and commercial market depends on diversifying the marketing of all import goods and merchandise, and a few depend on locally produced goods, and this directly affects the country's trade balance, as the higher balance in The balance was achieved in import versus export, which is absolutely not commensurate with the volume of imports, and then the export of foreign currencies, which contributed to creating clear economic inflation.
Export Reality
In turn, Ahmed Al-Rikabi stressed that {Iraq is required to activate the reality of exporting to higher levels due to the presence of multiple wealth, for which markets can be created all over the world, and thus enhance the country’s financial revenues and work to benefit from international expertise to develop our industry and economy in partnership with the advanced international effort.”
In addition, a group of businessmen demanded to work towards the legislation of the re-export law, and this is an important matter for Iraq to be an effective commercial center in the region, taking advantage of its geographical location among the countries of the world, and this is an important step that the Iraqi legislator must pay attention to. LINK
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