Iraqi News Tuesday AM 6-15-21
Iraqi News Tuesday AM 6-15-21
TLM724 Administrator BondLady’s Corner
Confused economic indicators and an escalation in the prices of life commodities... Iraq's economy to where?!
Pratha News Agency109 2021-06-15 Youssef Al-Kateb ||Class “5” dollars .. Table eggs are rising and agriculture is failing -- The price of eggs in the markets of Baghdad and the Iraqi governorates, including the Kurdistan region, increased significantly, after the federal government’s decision to prevent the import of eggs from abroad, to encourage field owners to produce local eggs, while citizens complained about the high prices in the markets, as the price of the egg layer reached To more than 6 thousand dinars, and previously it ranged between (3-4 thousand dinars), and shop owners complain about the rise, stressing that the matter is out of their control, while citizens accused “greedy traders” of being behind the price increase, they take advantage of stopping imports, and recording cases of bird flu. to double the price. A new rise in dollar exchange rates in Baghdad and Kurdistan
The exchange rates of the US dollar rose against the Iraqi dinar on the main stock exchange in the capital, Baghdad, and the Kurdistan region.
A source said that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad recorded 150,200 Iraqi dinars for every 100 US dollars.
During its opening, the Central Kifah Stock Exchange recorded 150,100 Iraqi dinars for $100.
He pointed out that buying and selling prices increased in the local market in Baghdad, where the selling price amounted to 150,750 Iraqi dinars, while the purchase prices amounted to 149750 dinars per 100 US dollars.
In Erbil, the capital of the Kurdistan region, dollar prices also increased, with the selling price reaching 150,300 dinars per 100 US dollars, and buying at 150,000 dinars per 100 dollars.
Gold touches the bottom of more than a week due to the rise of the dollar
The dollar rose 0.1 percent, hovering near a week's peak against other major currencies, raising the cost of gold to holders of other currencies.
Data last week showed a sharp rise in consumer prices in the United States, but Fed officials have repeatedly said that inflation is temporary.
Attention is now shifting to the Federal Reserve's June 15-16 meeting, hoping for indications about what policymakers think about rising inflation and more future monetary policy.
Morgan Stanley said in a research note that the Fed may pave the way for greater flexibility towards the quantitative easing program during the meeting.
Silver settled at $27.89 an ounce, palladium fell 0.1 percent to $2,773.52, while platinum fell 0.5 percent to $1,143.89.
Nikkei rises 0.71 percent in early trading in Tokyo The Nikkei index rose in early trading on the Tokyo Stock Exchange. The Nikkei rose 0.71 percent to 29,153.11 points, while the broader Topix index rose 0.62 percent to 1966.13 points. http://burathanews.com/arabic/economic/394420
Attempts To Liquidate Iraqi State-Owned Companies
Tuesday 15 June 2021 Faris Al Salman * The government is trying to reduce spending in the public sector, and confront the unemployment of 2.5 million Iraqis, in addition to the joining of 150 thousand university graduates annually to the already saturated labor market, to add to the number of the unemployed.
The fact that the national unemployment rate reached 16 percent prompted the government to think about shifting this burden onto the private sector. Here we stop to ask: Is the current Iraqi private sector qualified for this task?
Let's analyze the situation...
In addition, the spread of corruption in some departments led to the uncompetitiveness of the product and the infliction of unjustified losses on some companies. All of this led to a decline in the productivity of the Iraqi employee to dangerous levels, as state institutions were drowned out by disguised unemployment.
The lack of productivity due to the lack of production requirements and the flooding of the market with imported goods also aggravated the losses of government companies.
Is it permissible to blame these companies? We neglected it and delayed solving its problems in a scientific way We even contributed to her death by neglecting her for many years.
The other challenge is does Iraq currently have a national private sector capable of easing the burdens of the state and bearing the historical responsibility?
There were at least 30,000 privately owned projects before 2003, and despite the siege conditions, these projects survived. They are projects owned by all of the people, and there is no justification for neglecting them and not saving them, and they employed large numbers of local workers. However, it stopped completely after 2003.
The suspension of these projects came as a result of wrong policies, including those that were invoking the fight against terrorism and the security situation, while the south was enjoying relative stability.
In order to proceed with the liquidation of government companies, we must have a national private sector that believes in the foundations of Iraqi national security and can be relied upon, as it absorbs the corps of new young graduates who join annually to job seekers and employment, through job creation and absorb part or the majority of public sector employees as well.
And we come back and ask: What is the guarantee that the current private sector will do this? Is he qualified to assign him this duty?
Youth unemployment levels are estimated at 36 percent of the national unemployment rate. Will the current Iraqi private sector secure the necessary financial and productive investments?
to accommodate them? We don't think so.
Some of those who formulate the government's economic policy consider state-owned companies to be a black hole that swallows government spending as they depend on government grants and aid to cover their basic expenses, including salaries.
One solution is to liquidate non-productive state firms to reduce inflated operating costs caused by over-employment, and to create jobs in productive sectors. These companies are owned by 14 ministries, including: the Ministry of Industry and Minerals, the Ministry of Electricity, the Ministry of Oil, and the Ministry of Finance. Spending on salaries and wages was $4.5 billion for 4.14 million permanent employees, including the so-called aliens.
In 2015, the advisory body tried to carry out a comprehensive reform that would reduce the number of state-owned companies, establish capacity-building training centers, and refer 25 percent of employees to early retirement with the aim of reducing the number of employees by a quarter.
It is nice to hear that these companies can be turned into attractive investment opportunities through public-private partnerships. But will it be valued at its true market value? Will its underlying market value be calculated?
Is it not better to qualify these companies by highlighting their share in the Iraqi market? Is it not necessary to attract specialized foreign investment according to the type and productivity of each company with the aim of developing and modernizing its production lines and providing the local market need of its products, as well as transferring modern technologies and the secret of knowledge and developing the skills and expertise of cadres? Productivity and job creation, and most importantly, achieving profitability and sustainability for these companies and ensuring their development.
We are very late and we have to shorten many episodes to face the challenges of the future and the challenges of the Fourth Industrial Revolution, and this can only be done with transparency and competition and achieving an advanced level of degrees of freedom.
Finding an efficient and specialized foreign partner for each company, giving it a market space for its product and protecting it from the importer, will be enough to raise its market value and motivate foreign companies to enter into partnership operations with these companies and advance them. This will inevitably lead to an increase in the value of its assets and the space to remove them in the market, and thus raise the value of its shares, then the state will be able to reduce its share in companies by selling its shares to citizens, and transforming them into mixed joint stock companies as a first stage.
The citizen’s investment in these companies will be a safe investment, in addition to the fact that it will contribute to supporting the national product, strengthening the concern for the protection of public and private properties, and enhancing belonging and loyalty to the homeland.
As for leaving the door of random import open in this way, it will not lead Iraq to anything but to be a market for all who has come and go, and a brake on any national industry owned by the public, mixed, and private sectors.
During this, a healthy environment is created for the growth of an efficient, national Iraqi private sector that believes in Iraq and does not have multiple loyalties, as well as empowering it with a package of legislation that regulates the production process and guarantees the rights of workers with justice and balance with the employer.
The task entrusted to the Prime Minister is not easy, as it requires rehabilitating the political system to achieve the highest degree of economic feasibility for the country. The other challenge facing the Prime Minister is to manage the economic file with high professionalism to meet global, regional and local challenges.
Therefore, I suggested to him to open up to the forces of the people because he is the real owner of wealth and power, and the owner of the real right to self-determination, as there are many experts, economists and strategic planners who want to build Iraq independently, without being under the umbrella of any party and far from polarization.
Success in the economic file will take us to safety to where the sun shines, and there the political system will be developed and a political program based on a sacred common denominator is loyalty.
for the homeland.
The work of the ruling parties requires them to consider transforming the government from a government of salaries and privileges to a government of dynamic development that puts the public interest in mind. This will generate confidence at home and abroad and produce an investment climate that achieves sustainable development that in turn provides millions of solid and real job opportunities. If we are able to meet the needs of the local market, perhaps we will look for export markets.
In conclusion, we believe that the decision to liquidate government companies is not related to strategic procedures and solutions, but rather wastes public money and impedes any future possibility of correction. and calendar.
We must all be aware that Iraq must rise and return to its normal position as a factor of balance and stability in its vital field and its surroundings, and to keep it away from more complex economic problems. * President of the Baghdad Economic Forum LINK
Economic Crisis Management
Tuesday 15 June 2021 56 Dr.. Saad Al-Taie Crises are one of the circumstances facing the economic decision-maker in his work, and they are the result of short or medium-term disturbances in the work of the economic system, which are the result of a set of causes and factors in the economic, productive or social system and other reasons.
Crisis idiomatically means a state or phase of transition from one state to another.
Which requires good management of these situations and directing matters accurately and wisely, in order to come out with the best and best results and the least possible losses. The conditions or conditions in such stages are abnormal, which requires a more wise and efficient management in managing the abnormal conditions, and here lies the importance of successful management in dealing with such cases in order to better manage the economic project, which avoids the organization losses or bad conditions that could exacerbate Or it will continue to decline unless the administration is up to the challenge or the difficult circumstances created by the crisis situation.
The crisis situation may reach great degrees of badness, so that crises are sudden or highly effective, or they may be intertwined in their causes and formation factors, which further complicates them. Here, the role of the successful administration is in solving problems, returning matters and situations to their causes, and the need to take the right and wise decisions regarding the problems it faces. Decisions in such cases must be quick and correct, because the time factor is very important in crisis situations.
Here, the crisis situation or circumstances impose extremely negative symptoms on the decision maker, such as anxiety, extreme tension, hesitation and fear of the possibility of making decisions that are inappropriate or accurate, which requires that the administrative leadership be at the level of the challenges it faces and the need to provide it with factors of expertise and scientific possibility.
Informatics, possessing distinguished leadership qualities, and possessing a large information base in order for the decisions taken to be based on the right foundations and not to take the risk of making hasty decisions with few information bases.
Successful administrations must anticipate every circumstance or every emergency, negative or abnormal situation, and be prepared to deal with all conditions and circumstances and not be surprised when crisis situations occur. Hence the importance and role of successful management in dealing with these circumstances and cases. LINK
The United Nations Proposes Several Strategies To Achieve Sustainable Development In Iraq
Tuesday 15 June 2021 67NNNBaghdad: Hussein Thaghb The workshop (ratification of the revised framework of cooperation for the United Nations in the field of sustainable development) focused on the advancement of human resources in Iraq, which represent the basis of development, as well as strengthening institutions and services, including
It achieves social cohesion.
Minister of Planning and Development Cooperation Khaled Battal said on the sidelines of the workshop: "The UN institutions support the government's efforts in facing the economic challenges whose effects have become clear on the vulnerable classes."
He added, "We are looking forward to more cooperation with the United Nations after we saw the seriousness of the mission in Iraq, and we also look forward to the cooperation in capacity-building to contribute to achieving the sustainable development plan 2020-2024, which put the human being among its priorities."
investment attraction
He pointed out that "achieving sustainable development requires several tools, and it must be associated with human development, which we, as a ministry, are concerned with this matter," noting that "achieving security is the most important requirement to attract investment and mobilize the labor market, in addition to restoring professional institutes to supplement the labor market.
As for the Deputy Special Representative of the United Nations Secretary-General and Resident Coordinator, Irina Voyakov, said: "We propose several strategies, the most important of which are achieving social cohesion and social and participatory protection, which aims at strengthening, effective and participatory national policies and systems that are human-centered, gender-sensitive, respectful of people, contribute to gender equality and strengthen social protection and cohesion.”
Capacity Enhancement
She pointed out that "the introduction of an economic development strategy for the benefit of all, which aims to promote human-centered economic policies and legislation that contribute to inclusive and diversified economic growth that takes into account social diversity, with a focus on increasing income and decent work for women, youth and vulnerable groups, as well as strengthening the capabilities of people in Iraq to enable everyone's access." Without exception, economic activities and participation in them.
The strategy of strengthening efficient, effective and comprehensive institutions and services was also presented, which aims to build institutions and systems that provide equitable and participatory services that are human-centered and meet their needs and take into account gender and age, especially for the most vulnerable groups of the population, with a special focus on advocating for women to lead decision-making processes.
Voyakov warned that "the Joint Steering Committee of the United Nations Framework for Cooperation in the Field of Sustainable Development for the years 2020-2024 aims to endorse the revised version of the United Nations Framework for Cooperation in the Field of Sustainable Development, which took into account all the requests made by the government, such as Inclusion of the effects of the (Covid-19) pandemic and the economic and social response plan, and adding a new strategic priority, which is a new strategy to achieve dignified, safe, voluntary and permanent solutions to displacement Iraq". LINK
Foreign Minister: Iraq Is Open To The World
Tuesday 15 June 2021 157 Baghdad: morning Foreign Minister Fouad Hussein said that Iraq is continuing to open up to the world and conclude the best relations, while it will participate in two consultative and emergency meetings of Arab foreign ministers in Doha.
A Foreign Ministry statement said, "Hussein received a delegation from the National Wisdom Movement, and during the meeting, the ministry's work and its role in opening Iraq's foreign relations, clarifying developments in the situation in Iraq, and highlighting its positions on regional and international issues."
Hussein added, according to the statement, that "the ministry is continuing to open up to the world, conclude the best relations, and open new horizons of cooperation to achieve Iraq's interests, and that the ministry's priorities are to restore Iraq to its rightful place among the nations of the world."
Meanwhile, the foreign minister arrived in the Qatari capital, Doha, to attend two consultative and emergency meetings of Arab foreign ministers.
Another statement stated, "The meeting came at the request of the host State of Qatar, given its presidency of the current session of the League Council, and it will discuss various Arab issues, on top of which is the Palestinian issue, its recent developments, the truce frameworks in the Gaza Strip, and the developments of the Renaissance Dam file."
The statement continued, "It is hoped that Hussein will hold bilateral meetings on the sidelines of the meeting with Qatari officials and Arab foreign ministers to discuss a number of common files." LINK
https://alsabaah.iq/48547/%D9%88%D8%B2%D9%8A%D8%B1-%D8%A7%D9%84%D8%AE%D8%A7%D8%B1%D8%AC%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D9%85%D9%86%D9%81%D8%AA%D8%AD-%D8%B9%D9%84%D9%89-%D8%A7%D9%84%D8%B9%D8%A7%D9%84%D9%85
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