Iraqi News Tuesday Afternoon 3-29-22
Iraqi News Tuesday Afternoon 3-29-22
TLM724 Administrator BondLady’s Corner
Al-Halbousi Requests To Host The Governor Of The Central Bank
Tuesday 29 March 2022 148 Baghdad: morning Yesterday, Monday, Parliament Speaker Muhammad Al-Halbousi demanded to host the governor of the Central Bank on the draft law on emergency support and food security.
A statement by Parliament stated that "the Parliamentary Finance Committee, headed by the Speaker of the House of Representatives, held its first meeting during the current session, in the presence of Committee Chairman Hassan Karim al-Kaabi and its members, to discuss the emergency support law and food security and to start the second reading of the draft after the first reading was completed."
Al-Halbousi stressed, according to the statement, "the need to proceed with the legislation of the law as it addresses the problems facing the country in the current circumstance, especially with the high prices and the damage caused to the vulnerable and poor segments," noting "the importance of providing legal cover for its legislation and the amendment of important texts."
And the Speaker of Parliament directed "to host the governor of the Central Bank and those concerned to discuss the necessary measures."
For his part, Al-Kaabi indicated that "the bill will support the creation of a special account that authorizes the government to support food security and development through excess funds to achieve food security," noting "the need for it to mature and to take a number of observations and amendments before submitting it to the Council for a vote."
He explained that "it was agreed between the members of the Finance Committee, and after the approval of the Speaker of the House of Representatives, to cancel the internal and external borrowing paragraph in the law, which is related to granting the government the authority to borrow an amount of 20 trillion in two phases, and at a rate of 10 trillion in each stage," noting "the importance of allocating abundance to confront poverty and enable Food and strategic storage of wheat.
The statement continued, "The committee decided to host the ministers of finance and trade, tomorrow, Wednesday, to discuss the financial abundance and the ration card, provided that, during the next week, it will host the ministers of finance, electricity, planning, agriculture, labor and trade, a number of relevant officials and the governor of the central bank to discuss the outstanding files. LINK
The Finance Committee Hosts Two Ministers
Today, Tuesday, the Parliamentary Finance Committee hosted the Minister of Commerce and Minister of State for Parliament Affairs.
The Parliament's media department said in a statement, "The Parliamentary Finance Committee headed by Hassan Al-Kaabi hosted the Minister of Commerce and Minister of State for Parliament Affairs."
"The hosting also included advanced cadres in the ministries of finance and trade," she added.
https://www.radionawa.com/all-detail.aspx?jimare=28737
Securities: Iraq Achieves The Largest Recorded Increases In The Trading Value In The Arab World
Monday 28 March 2022 15:19 | economic Number of readings: 269 Baghdad / NINA / - The Chairman of the Securities Commission, Hassan Al-Akaili, announced, on Monday, that the Iraqi market is achieving the largest recorded rises in the trading value at the Arab level. https://ninanews.com/Website/News/Details?key=966078
Criticisms Of The Finance Minister's Statements Regarding The Economic Balance
Tuesday 29 March 2022 307 Baghdad: Huda Al-Azzawi Specialists and experts in financial and economic affairs considered that the statements of Finance Minister Ali Allawi in Doha regarding the achievement of economic balance through the white paper presented by the government were "exaggerated", and that Iraq had not yet reached that balance, stressing that what was achieved from that paper is a small part and hardly Mentionsed.
The financial advisor to the Secretary-General of the Council of Ministers, Obaid Mahal, said in an interview with "Al-Sabah": "The white paper may have achieved simple, unforeseen things, because any economic reform process needs a long period."
With regard to the Minister of Finance’s statement that the “white paper” achieved economic balance, the advisor considered that “this is a very big word. Rather, the paper achieved a small part, such as reducing the import of some products and commodities and protecting some farmers from not importing some products.”
He added that "the paper achieved balance, this is a big and unrealized word," noting that "the actual economic balance is achieved when Iraq has non-oil resources, addressing the unemployment situation and providing income to pay off debts, and there are many paragraphs that must be available to reach the so-called economic balance." .
In turn, the Rapporteur of the Parliamentary Finance Committee for the fourth session, Dr. Ahmed Al-Saffar, explained in an interview with “Al-Sabah” that “the economic balance means that the total supply equals the total demand, meaning that all the goods and services that society needs are available in the market because the shortage of supply leads to high prices and inflation. Increasing supply means stagnation, for equilibrium means equilibrium between the two sides, so that there is neither inflation nor stagnation. As for social equilibrium in the sense of justice in the distribution of income and wealth, it is that there should not be large differences between the highest and lowest groups.
He pointed out that "there is no equality in society and balance means reducing inequality or reducing differences between classes, which is not achieved in Iraq due to the increase in unemployment, poverty and poor services."
Al-Saffar noted that "according to the statement of the authors of the white paper, it was supposed to turn into a green paper of accomplishments within a few months, but the white paper remained white and what revived the Iraqi economy was the rise in oil prices only and had nothing to do with the white paper, and what helped the government to have it." Fiscal sustainability is the rise in oil prices, and any shock goes back to square one, and the government falls into a crisis and resorts to borrowing.”
He concluded by saying: "A simple paper that has not been implemented properly cannot achieve economic balance. The economic and social indicators on which global institutions measure the situation of society in terms of unemployment, poverty, inflation, the level of service provision and others must be announced, so are they achieved in Iraq in order to achieve balance?!"
For his part, the researcher in economic affairs, Nabil Jabbar Al-Ali, indicated in an interview with “Al-Sabah”, that “what was achieved from the white paper presented by the government in 2020 only changed the exchange rate of the dollar against the Iraqi dinar, which created negative indicators, and what achieved the financial balance is an increase Oil prices a month after the exchange rate change.
He noted that "the statements of the Minister of Finance are trying to delude the Iraqi interior and even outside it with illusory achievements, of which only a simple matter has been implemented that does not meet the requirements." ambition." LINK
Cabinet Spokesman: We Have Made An Amendment To Decisions That Will Improve The Investment Environment
Political | 05:03 - 29/03/2022 Cabinet Spokesman Hassan Nazim: The government is seeking to develop treatments regarding the investment file in Iraq Nazim: The Cabinet hosted the Minister of Health and there are assurances of the epidemiological situation in Iraq Nazim: The Cabinet voted to transfer the ownership of hospitals built on real estate belonging to some ministries to Health
Nazim: There is coordination Work on the summer agricultural plan
https://www.mawazin.net/Details.aspx?jimare=188739
Integrity: Recruitment Of The Former Minister Of Commerce And Former Managers
Today, Tuesday, the Federal Integrity Commission revealed the issuance of a recruitment order against the former Minister of Commerce and two former general managers, indicating that the order was issued against the background of granting approvals to establish mills, in violation of the law.
The investigation department of the authority said in a statement that "the second Karkh investigation court issued a summons order against the former minister of commerce," noting that "the order was issued against the background of the minister and the General Company for Grain Processing to grant approvals to establish (44) mills."
She added that "the granting of these approvals without a legal justification or economic feasibility," noting that "the recruitment order, also included two former general managers of the General Company for the manufacture of grains, came in accordance with the provisions of Article (331) of the Iraqi Penal Code No. (111 of 1969). ).
The authority had previously announced the issuance of a ruling against the former general manager of the General Company for Foodstuff Trade in the Ministry of Commerce. for deliberately harming the interests of the entity in which he works, as he was imprisoned for a period of (7) years and the seizure of his movable and immovable funds; As a result of tampering with a contract with a food processing company. https://www.radionawa.com/all-detail.aspx?jimare=28743
Exchange Rates Continue To Remain Stable In The Local Market
Economie| 10:14 - 29/03/2022 Baghdad - Mawazine News Today, Tuesday, the dollar exchange rates continue to remain stable on the local stock exchange in Baghdad and the provinces.
And the selling prices of the dollar recorded today, Tuesday, 147,250 dinars per 100 dollars, while the purchase prices of the dollar were 147,000 dinars per 100 dollars.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, while the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. Ended 29 / 92 https://www.mawazin.net/Details.aspx?jimare=188703
Parliamentary Direction To Pass Two Important Laws And Unify The Pension Fund
Political | 12:22 - 29/03/2022 Baghdad - Mawazine News, Member of Parliament, Sajjad Salem, revealed today, Tuesday, a tendency to unify the retirement fund between the public and private sectors.
Salem said, "The most important suspended laws in the House of Representatives are the retirement and social security laws, as there are efforts and serious work to pass them during the current session," noting that "there is a need to support the private sector to accommodate the working group that the public sector is unable to absorb."
Salem added in an interview with the official news agency, which was followed by "Mawazine News", that "there is work for the pension fund to be unified and equitable between employees on permanent staff and workers in the private sector." https://www.mawazin.net/Details.aspx?jimare=188714
Parliamentary Finance Reveals A Ministerial Proposal To Distribute Cash Money To The Poor And Needy
Local | 02:09 - 29/03/2022 Baghdad - Mawazine News, today, Tuesday, the Parliamentary Finance Committee revealed a study of a proposal to distribute the sums of money to the poor and needy citizens.
A member of the committee, Mishaan al-Jubouri, said during a conference held in the parliament building and followed by (Mawazine News), that "the Minister of Finance, Ali Allawi, during the attendance of the discussion session with the committee suggested, among the solutions, the distribution of financial sums to the poor and needy of the Iraqi people to lift some burdens. economically about them.
He pointed out that "this issue is under discussion and will be raised in the parliament session for the purposes of deliberation and reaching a final decision on it."
The Finance Committee had met this morning at the Parliament building with the Ministers of Finance and Trade to discuss economic issues in the country and financial liquidity. Ended 29 / 92
https://www.mawazin.net/Details.aspx?jimare=188724
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