Iraqi News Wednesday AM 6-30-21
Iraqi News Wednesday AM 6-30-21
TLM724 Administrator BondLady’s Corner
The White Paper.. 64 Projects And Government Directions To Seek The Assistance Of International Experts
Political | 01:55 - 30/06/2021 Baghdad - Mawazine News
, Advisor to the Prime Minister, Alaa Abdul-Hussein Al-Saadi, confirmed, on Wednesday, that the white paper included 64 projects, stressing that international experts would be hired to implement them.
Al-Saadi said, according to the official media, that "the white paper issued by the Iraqi government, in its first and second parts, identified a number of oil projects to increase export capacity, increase production, increase oil refineries, design energy, gas and gas extraction through 6 well-defined projects entrusted to the Ministry of Oil."
He continued that "the white paper includes two parts, the first part of which deals with the Iraqi economic reality and the goals and strategies followed by the government and the translation of these goals and strategies through the second part issued by the government and which included the mechanisms and governance of implementation, in addition to dividing these goals into strategic projects in various ministries."
Noting that "there are approximately 64 projects, and each project is divided into a number of objectives that must be implemented, and set in a time period," noting that "there are approximately 366 objectives within the projects."
He stressed that "the announcement to start implementing the white paper projects will be issued soon," noting that "some ministries have started implementing some projects, but the official announcement of the implementation has not started," explaining that "during the coming period, preparations for the implementation process will be completed."
He pointed out that "the 64 projects included in the white paper, we will use to implement them with international expertise and international organizations, in order to provide the best experiences for each project separately, and we will launch a website for the implementation of the white paper, in order to achieve transparency and announce it to people within a very soon."
https://www.mawazin.net/Details.aspx?jimare=158899
Parliamentary Finance: Raising The Dollar Saved 22 Trillion Dinars And Closed The Salary Deficit
Posted On 2021-06-30 By Sotaliraq
Baghdad/ Firas Adnan Yesterday, Tuesday, the Parliament’s Finance Committee denied the existence of fears of the collapse of the Iraqi economy, noting that raising the dollar contributed to saving 22 trillion dinars.
While she reported that the government had achieved positives from this decision, she spoke about damages to the citizen, most notably the reduction in the purchasing value of salaries by 22%.
Member of the committee, Representative Jamal Cougar, said, in a statement to (Al-Mada), that "the statements made by some MPs regarding the possibility of the Iraqi economy collapsing because of the dollar are inaccurate."
Cougar added, "Iraq is a country rich in its oil resources, and the price of a barrel earlier reached $20, and the economy did not collapse."
He pointed out, "One case makes us face the collapse of the economy, which is the collapse of the political process, since the issue will be related to the state's facilities and its entire sectors."
And Cougar said, "Iraq is witnessing on the economic side a recovery through an increase in bank reserves and an increase in oil prices, with government efforts to fight corruption."
He noted, "Current indicators confirm that Iraq is going for the better, and it is not correct to say that we are going to collapse."
Cougar refused, "to hold Parliament responsible for changing the dollar exchange rate as a decision that contributed to raising the prices of the Iraqi market."
And he stated, "The issue was taken based on the directions of the Central Bank, and the political blocs were briefed on the repercussions of the economic situation at the time, from the possibility of repeating the scenario of last year in financial distress."
Cougar believes that "the government's move towards raising the price of the dollar solved its problems, but it implicated the market and the citizen with the negative aspects of the decision."
He continues, "The government saved by raising the price of the dollar 22 trillion dinars, and it was required to achieve half of it to bridge the salary deficit, and therefore it saved the remaining half at the expense of the citizen."
And Cougar added, "The citizen's harm from this decision came as Iraq is a consuming country, not a producer, and all goods from agriculture to industry through import."
Cougar went on to say that “the damage to the citizen was from three sides, namely the decrease in the purchasing power of salaries by 22%, the rise in prices, as well as the instability of the market; Because of the conflicting statements about the possibility of the dollar returning to its previous position or not.
For his part, the other committee member, MP Muhammad Al-Shabki, said in a statement to (Al-Mada), that “one of the most important tasks of the House of Representatives for the remainder of the current electoral cycle is to monitor government efforts to reduce the effects of raising the price of the dollar.”
Al-Shabki continued, "The government set a number of justifications when it resorted to making this decision, and then included it in the budget law for the current year, as the issue was related primarily to securing the salaries of employees and retirees."
He pointed out that "previous meetings with officials in the Ministry of Finance during the past week resulted in an agreement for the government to take measures that would reduce the damage to the citizen as a result of raising the price of the dollar."
Al-Shabki went on to say, “Parliament will monitor the government’s seriousness in these steps; It has revealed efforts to support the ration card, as well as increase the salaries of those covered by social protection, and other decisions related to agricultural crops, and therefore we hope that the expected measures will achieve their goals as soon as possible.”
It is noteworthy that the House of Representatives had voted at the end of last March on the budget law, including fixing the price of the dollar at 1450 dinars, which greatly affected the Iraqi markets, which witnessed an increase in basic goods and a decrease in the purchasing power of the citizen. LINK
A Deputy Confirms: The Government's Steps To Benefit From The Surplus Oil Revenues Go To Strengthen The Cash Reserve
Economy Wednesday 30 June 2021 | 02:56 PM| Number of readings: 162
After the outbreak of the Corona pandemic and its impact on the global economy, Iraq was also affected economically, which prompted the government to borrow from the central bank and thus decreased the cash reserve of the central bank, which means that the government has to compensate for the shortfall in the cash reserve, which is what the government actually started with with the high prices oil.
Representative Jamal Cougar says, so far, the government's steps to benefit from the amounts of the increase in oil revenues are to enhance the bank reserves, as it has fallen to very low levels from 82 billion dollars to less than 55 billion dollars, adding that it is now being strengthened and I think it has reached more than 60 billion dollars.
As for the second reason for excluding presenting a supplementary budget, MP Cougar continues, that this budget needs to be prepared and then sent to the House of Representatives, and the House needs to hold sessions in the Parliamentary Finance Committee with the participation of the rest of the committees, communicate with the ministries, make a first reading and then a second reading and vote on it,
we believe the government She will not go for this option while she is now busy preparing a draft budget law for 2022, stressing that preparing the supplementary budget needs time to prepare, discuss it in the parliament and vote on it, and we are heading to elections, which have become the preoccupation of many deputies nominated for an upcoming election cycle, thus completing the quorum and reading the draft The budget law is a first and second reading and voting on it needs to complete the quorum. I think this is very difficult in the next stage. Finished 3 Source: PUKmedia https://aynaliraqnews.com/index.php?aa=news&id22=149196
Al-Waeli: Automating the work system at all outlets will double revenues and reduce corruption
Money and business Economy News _ Baghdad The head of the Border Ports Authority confirmed, on Wednesday, that automating the work system at all ports will double revenues and reduce corruption.
And his media office said in a statement received by "Al-Iqtisad News", that "Al-Waeli received the delegation of the General Secretariat of the Council of Ministers, represented by the Office of Information and Government Communication."
Al-Waeli stressed, "The authority achieved positive achievements and gains during the past year, which contributed to doubling revenues and eliminating corruption networks, through the qualitative operations that the authority supervised under the direct guidance of the Prime Minister, despite the disruption of the outlets for intermittent periods due to the spread of the Corona pandemic globally. Health precautions and conditions were emphasized, and electronic work was emphasized in all outlets, which will contribute to limiting and eliminating the phenomenon of corruption.
He praised, "the role of the Government Media Cell and the Office of Government Information and Communication in the General Secretariat of the Council of Ministers, in dealing with media and awareness files for media offices in official institutions in general, and the Border Crossing Authority in particular," expressing "the authority's readiness to provide all facilities that contribute to the success of Joint media work.
For its part, the delegation of the General Secretariat of the Council of Ministers expressed "the continuation of the Government Media Cell and the Government Information and Communication Office in the General Secretariat of the Council of Ministers to provide support and backing to the work of the Commission."
Views 86 Date added 06/30/2021 https://economy-news.net/content.php?id=25547
The Industrial Bank Launches Two Initiatives To Grant Loans Amounting To 20 Billion Dinars
Banks Economy News – Baghdad The Industrial Bank announced the launch of two initiatives to grant loans, while noting that the loan ceiling reaches 20 billion dinars as a maximum.
The director of the Industrial Bank, Bilal Sabah, said, "The bank has two initiatives within the documentary credits," noting that "the first initiative relates to the central bank and interest at 3% for a period of 15 years, and three years of grace and production guarantees itself by 80% in addition to 20% real estate guarantee, as The bank is working in it," according to the official news agency "Ana".
He added, "The other initiative includes granting 250 million in cash, and we hope it will rise to one billion, which is related to projects that need raw materials and do not need to import a production line, and their benefit will decrease according to the new information."
He pointed out that "the bank's own funds are loaned from them, but at an interest rate of 6%, and because there are other loans with an interest rate of 3%, there was no direction for our own funds," explaining that "loans are granted, according to the feasibility study, for more than 150 million, and there must be a feasibility study and upon acceptance." The feasibility study is submitted to the Prime Minister’s office, and when the amount is approved, it will be financed by 80% of the project.”
He continued, "When the approval is issued, it returns to the bank so that the procedures begin, which is to reveal the percentage of achievements and guarantees," noting that "there are approximately 20 factories that were granted loans from the bank."
He stated that "factories need to open credit and most projects are working and have a high completion rate," noting that "the bank continues to grant loans, and the highest amount that can be granted is 20 billion dinars as a maximum." Views 27 Date Added 06/30/2021 https://economy-news.net/content.php?id=25532
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