KTFA:

Samson:  Central Bank : Half of the banks in Iraq are within the excellent level

19th April, 2022

Tuesday, Deputy Governor of the Central Bank, Ihsan Al-Yasiri, confirmed that there are more than 70 banks, only 7 of which are governmental.

Al-Yasiri said, in a televised program affiliated with the National News Center, that "the government banking sector used to account for 85% of the deposits of institutions and the public, and that there are more than 70 banks, only 7 of which are governmental, and only half of them can be classified within the excellent level."

He added, "One of the functions of the Central Bank is to monitor the banking sector."  LINK

Samson:  The Prime Minister's spokesperson is hosted by Parliament to discuss the budget

20th April, 2022

The Parliamentary Finance Committee hosted, on Wednesday, the Minister of Culture, Hassan Nazim, regarding the budget law.

The Media Department of the House of Representatives said in a statement that Mawazine News received a copy of it, that “the Finance Committee headed by Hassan Karim Al-Kaabi and in the presence of a number of its members received today, the Minister of Culture, the spokesman for the Prime Minister, Hassan Nazim, and the advanced cadre in the ministry to discuss the ministry’s budget within the budget law.” Federal General Assembly for the year 2022.

Al-Kaabi welcomed the Minister of Culture, stressing "the importance of the ministry and its work within an organized work plan." The culture sector was discussed and the need to support it with projects concerned with cultural reality, including supporting the school library and building museums to prove cultural identity. 

The meeting, which was held at the headquarters of the Finance Committee, discussed the budget of the Ministry of Culture within the general budget law for the year 2022, and the development of a strategic plan that meets the needs of the ministry based on a real vision between the Finance Committee in the House of Representatives and the Ministry of Culture, in addition to the sustainability of the ministry’s work through legislation, including the Ministry of Culture law. and important laws.    LINK

Clare:  VERY INTERESTING! "DISCUSSING THE BUDGET/2022" ....JUST LIKE WS & FRANK SAID ON MONDAY NIGHT.... THEY ARE USING IT TO RUN THEIR COUNTRY NOW...  WE MAY NOT UNDERSTAND HOW- BUT YOU SHOULD KNOW BY NOW A LOT GOES ON BEHIND THE SCENES THAT WE ARE NOT PRIVIY TO... IMO    THANK YOU SAMSON!

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TSM:  But the parliament, votes on the budget, then send it to the President to be implemented.  So far Parliament has not done anything in regards to approving it, it does seem that they have not even received it yet...imo  

Clare:  IN FRANK'S OPINION PARLIAMENT HAS THE BUDGET... LOOK AT POST #67 HOW CAN THEY BE DISCUSSING THE 2022 BUDGET IF IT IS NOT ACCESSIBLE TO THEM? HOWEVER, IF THE NEW RATE WERE NOT IN THE 2022 BUDGET WHY WOULDN'T THEY JUST EXPOSE IT ALL?
BECAUSE THE CARETAKER GOV. CAN ACCORDING TO ARTICLES, (EVEN THOUGH THERE IS MUCH BACK & FORTH IN THE ARTICLES)  BUT WS TOLD US THE CARETAKER GOV WILL NOT INTRODUCE A NEW RATE.
 
MUCH TO PONDER....IMO  AND WE SHALL SEE SOON!

POST #67 The Prime Minister's spokesperson is hosted by Parliament to discuss the budget .... The Parliamentary Finance Committee hosted, on Wednesday, the Minister of Culture, Hassan Nazim, regarding the budget law. The Media Department of the House of Representatives said in a statement that Mawazine News received a copy of it, that “the Finance Committee headed by Hassan Karim Al-Kaabi and in the presence of a number of its members received today, the Minister of Culture, the spokesman for the Prime Minister, Hassan Nazim, and the advanced cadre in the ministry to discuss the ministry’s budget within the budget law.” Federal General Assembly for the year 2022. Al-Kaabi welcomed the Minister of Culture, stressing "the importance of the ministry and its work within an organized work plan." 

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Godlover: Yes imo parliament will need to vote on the budget, with or without a new rate prior. I do not believe they can bypass parliament imo.  As to what Clare shared via WS:Of course, a new government is needed prior to any monetary reform.  I completely agree that if Kazemi gets to continue, it needs an official announcement. 

Clare:  YES, THE GOVERNMENT DOES NOT NECESSARILY HAVE TO CHANGE AS THE ARTICLES HAVE SAID THEY MAY AGREE TO KEEP KAZEMI, BUT WE NEED THE OFFICIAL ANNOUNCMENT OF THE NEW GOV. EVEN WITH KAZEMI....THERE NEEDS TO BE CONFIDENCE IN THEIR GOV. IMO

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MaryandTodd:  I have finally figured out the true Iraqi government structure. Here are the main departments:

 Department of “New Holidays”  - tasked with inventing new ways to give government workers time off so they don’t feel guilt for not doing their job on those days

 Department of “Confusion” - tasked with disseminating unnecessarily vague and/or conflicting information so nobody (including themselves) knows what is really going on

 Department of “Resource Dissemination”- simply tasked with enriching the ruling class while keeping the citizens dependent and lacking for even the basic necessities

 Department of “Delays and Can Kicking” - tasked with inventing and recycling ways to impede action on everything

Department of “Camouflage”- tasked with hiding Iranian sympathizers in plain sight

Department of “Sanitation” tasked with laundering oil revenues to further enrich the ruling class

 Department of “Elections and Government Seating”  - just kidding, nobody works here, they are a ghost sub-department of “Delays and Can Kicking”

 Department of “We Care About Iraqi Citizens” - OK, there is only a couple of people in this department and they are kept in a deep and dark cellar only to be exposed to the public when riots start

Department of “The Budget” - a lot of good people that spend countless hours on a national budget that never gets implemented (or probably even read) .

AND FINALLY

The Department of “International Relations”tasked with walking that fine line between seeking aid (to further enrich the ruling class) and demanding independence from foreign influence (except from Iran).

Actually, Although this may seem extremely accurate, I completely made this up based on my observations and personal opinion (wink)

Clare:  WALKINGSTICK & FRANK  TOLD US MONDAY NIGHT...
"WE  ARE WAITING FOR A SEATED GOV ….NOTHING ELSE IS PREVENTING THEM FROM RELEASING THE NEW EXCHANGE RATE."...WS 

"THEY ARE PREPARED NOW TO INTRODUCE A NEW EXCHANGE RATE AND CURRENCY"-WS

"THE NEW EXCHANGE RATE WILL BE INTRODUCED BY A SEATED GOV …. THE EXCHANGE RATE IS BEING RECALCULATED DAILY LIKE THE USD RATE CHANGES DAILY ….. IRAQ RECALCULATES DAILY AND WILL CONTINUE TO DO SO UNTIL THE LAUNCH OF THEIR NEW EXCHANGE RATE AND CURRENCY" -WS

THE GOVERNMENT DOES NOT NECESSARILY HAVE TO CHANGE AS THE ARTICLES HAVE SAID THEY MAY AGREE TO KEEP KAZEMI, BUT WE NEED THE OFFICIAL ANNOUNCMENT OF THE NEW GOV. EVEN WITH KAZEMI....THERE NEEDS TO BE CONFIDENCE IN THEIR GOV. IMO

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Samson:  World Bank: Iraq ranks first in the Arab world with the largest growth in GDP

20th April, 2022

Today, Wednesday, the World Bank announced that Iraq has achieved the first Arab position with the largest growth in GDP, while praising the positive steps taken by the government with its corrective measures for fiscal policy

A statement of the Ministry of Finance received by "Economy News" stated that "the World Bank report issued for the current month of April, in which it was expected that Iraq would achieve the first Arab rank with the largest growth in GDP and per capita for the year 2022

The report indicated, according to the statement, that "Iraq's GDP may grow during the current year by 8.9 percent, surpassing the rest of the Arab countries, including Qatar, which is expected to grow by 4.9 percent, Saudi Arabia 7 percent, Kuwait 5.7 percent, UAE 4.9 percent, Algeria 3.2 percent, and Egypt 5.5 percent." Jordan 2.3 percent and Morocco 4.3 percent

He added, "The growth of Iraq will decline in the year 2023, but it will also remain higher than the rest of the Arab countries except for Egypt," noting that "the growth of Iraq's GDP will be 4.5 percent and similar to Qatar, and it will rise in Egypt to reach 5 percent and Saudi Arabia will have 3.8 Kuwait 3.6 percent, Algeria 1.3 percent, Tunisia 3.5 percent, and Jordan 2.3 percent
 
The World Bank report indicated that "Iraq will also be the highest among the Arab countries in terms of per capita GDP growth during 2022, at 6.3 percent, while Saudi Arabia's per capita growth will be 5.5 percent, Kuwait 4.5 percent, Bahrain 1.4 percent, Egypt 3.6 percent, and Qatar." 4.5 percent, while Morocco will decrease 0.1 percent

In a related context, experts at the bank praised, according to the report, "the positive steps taken by the Iraqi government through the Ministry of Finance in its corrective measures for the fiscal policy and for the structure of the Iraqi economy in general, in addition to its adoption of an extensive package of measures and plans of medium and long-term impact in the face of the repercussions of the phenomenon of inflation and the rise in global prices and the repercussions of Corona pandemic

Experts estimated that "the growth of the Middle East and North Africa region will be 5.2 percent in 2022, after recording a recovery of 3.3 percent in 2021. The World Bank expected that "the growth rate in per capita GDP in the region will rise to 3.6 percent in 2022 after recording a recovery of 1.7 percent in 2021.  LINK