MilitiaMan Thursday 2-6-2020 "The CBI Has My Attention- Big Time!"

KTFA:

MilitiaMan:  #174

Comprehensive development plan of three files in the Prime Minister-designate program

Monday 03 February 2020 Baghdad / Farah Al-Khaffaf 

 Amid the challenges that Iraq faces internally and externally, Prime Minister-designate Muhammad Tawfiq Allawi is formally moving to present a comprehensive development plan consisting of three files with the formation of the new government. These trends came at a time when the Iraqi street is awaiting the completion of the general budget for approval by the new ministry and approval by Parliament.

The best for the current stage

The observer of political and economic affairs, Rahim Al-Shammari, believes that "the assignment of Muhammad Tawfiq Allawi is considered the best for the current difficult period that passes the country." And the President of the Republic, Dr. Barham Salih Al-Sabt, assigned Muhammad Tawfiq Allawi to form the new government.

 Al-Shammari said in a statement to "Al-Sabah": "Allawi is the only one who presented a comprehensive development plan of three economic, service and information files that accompanies the progress of the world and moves the people to a positive stage, and he will present it officially within the government program."

 Change the rentier curriculum 

The Prime Minister-designate pledged, in a speech to the Iraqi people, to "commit to providing the greatest number of job opportunities for citizens by starting development, industrial, production and housing projects, and creating an investment renaissance and laying the foundations for changing the approach of the rentier economy to an investment economy away from full dependence on oil resources." 

Al-Shammari added, "Iraq faces regional and international challenges and economic difficulties, such as unemployment and the importance of providing job opportunities, in addition to the files dealing with poverty, social security, advanced education and general culture, as well as developing and supporting security forces." 

Economic success policy

Al-Shammari stressed that "the establishment of the strong state will be through the independent ministerial cabinet and the advisory team, according to what came out of the emergency plan from the three files he prepared, and to work for years to plan and draw the policy of economic, security and political success." 

He continued by saying: "Allawi stressed in his first statement that he would succeed only with the support of the people, the protests and demonstrations led by the youth, and achieved a lot and forced the government to resign." And certainly the economic and financial team will be far from the political blocs. "

Towards a better life

Followers believe that the quotas have led to widespread corruption cases in several sectors, which resulted in the loss of billions of dollars during the past years, which could be invested in the advancement of the economy and the development of services and the establishment of hundreds of industrial, agricultural and residential projects. Al-Shammari pointed out that «Allawi’s mission is difficult to walk towards a better life, and to meet what the Iraqi people want, and that he will be able to proceed only with strong decisions, but we look at hope for an easy task, and we expect its success for a person who has accepted to challenge and go into difficulties for Iraq. 

Youth Employment Project

It is noteworthy that the Minister of Planning, Dr. Nuri Sabah Al-Dulaimi, has announced that "this week will witness the launch of the national project for youth employment, which is the first of its kind in Iraq to provide basic job opportunities." Al-Dulaimi said, according to a statement received by "Al-Sabah", that the ministry "united all national and international efforts within its vision to achieve the goals of sustainable development 2030 towards supporting development projects in the private sector with young Iraqi capabilities, and giving them equal rights with their counterparts in the public sector to be an effective force to support development All over Iraq. ”  LINK

MilitiaMan:  So Monday we see the Prime Minister Delegate was the only one to come out with a comprehensive plan that includes 3 files. Hence, he got the nod from the President. The man is show cased for his ability to bring a plan. A plan that was apparently some 45 - 50 days ago in it's infancy stages. Now it is looking to be in the implementation phases.. Which will include the starting of development of industrial, production and housing projects and an investment renaissance. We shall see as I go along in this thread, for that to be the case on more than just those fronts or they are at least to be inclusive of both national and international effectiveness, even with current goals for the youth to start this week!  They will do this with the help of economic and financial teams that are detached from political blocs. A very important point too.  ~ MM

#25

 The budget awaits the touches of the new government

Tuesday 04 February 2020

Baghdad / Farah Al-Khaffaf  

More than 30 days have passed since the New Year and Iraq without a general budget, and although its delay has led to negatives on the reality of the Iraqi economy and files such as services, appointments, etc., the Finance Committee and experts see it as an "opportunity" before the new government that will invest it properly and according to the ministerial program of the President The minister-designate Muhammad Tawfiq Allawi.

first step

The financial expert, Thamer Al-Azzawi, told Al-Sabah: “The budget has been returned to the Ministry of Finance for amendment, and it will be the first step that will be examined, revised and approved by the new cabinet according to all the data and statements of advisers in the government. ”And Dr. Mazhar Muhammad Salih, the financial advisor to the Prime Minister, announced to Al-Sabah that “the budget for the current year 2020 needs to be re-engineered towards reducing expenditures, reducing deficits, maximizing some resources, and creating what is called (financial sustainability), meaning that the budget has the ability to Expenditure, and this needs time to prepare it properly, "expecting" it will mature in the coming weeks, especially since there is consultation, understanding and exchange of ideas and opinions by the concerned authorities in an attempt to take measures in a manner that makes the budget permanent, strengthening the resources as possible and reducing the deficit , And  Controlling the debt. "

A golden opportunity

Al-Azzawi added that "the next government will have a golden opportunity to prepare and amend a budget in line with its program, and to implement the promises made by the Prime Minister-designate in His word. " On Saturday, President of the Republic, Dr. Barham Salih, commissioned Muhammad Tawfiq Allawi to form the new government. Allawi pledged to form a government that would fight corruption, provide job opportunities, create an investment renaissance and start implementing industrial, agricultural and residential projects. 

 Al-Azzawi admitted with difficulty that the budget meets the aspirations or can achieve miracles, especially that the financial deficit is large, and the requirements of the stage are greater, adding that: “The task is difficult for the Prime Minister-designate, but he has a golden opportunity to implement his ideas and projects that he presented days before commissioning, and it is positive In all Metrics. "

Positive stage

Meanwhile, the Parliamentary Finance Committee confirmed that the government of Muhammad Tawfiq Allawi will review some paragraphs of the public budget for the year 2020, to address the fiscal deficit. Member of the Committee, MP Ahmad Hama, said in a statement carried by the Iraqi News Agency: "The Prime Minister-designate cannot pass the budget and send it to Parliament, except after voting on his cabinet and his government program."

Treatment of impotence

He continued, "After the parliament votes with an absolute majority on the members of the new government and the ministerial platform, the Allawi government can discuss the budget and send it to the House of Representatives." His father-in-law also noted that "the Prime Minister-designate has a long history of fiscal and monetary policy in the country, so the budget with a large fiscal deficit in excess of 48 trillion dinars can be reconsidered," noting that "the new government will address the fiscal deficit by reconsidering some Paragraphs. "He noted that "Allawi has many observations on many financial and economic matters in the country, and all problems can be addressed in a short period or in the form of Phase".

In addition, Al-Azzawi confirms that "addressing the budget deficit needs to create the appropriate conditions for production factors and increase it, B (expansionist method), which aims to implement the partnership between the public and private sectors, using development strategies that contribute to the revival of the local economy. LINK

MilitiaMan:   So once the ministerial cabinet gets voted with an absolute majority on it's new members the 2020 budget can be discussed and sent to the House of Representatives for reconsideration in respect to alleviating debt that is excessive. (Read the rate would be a new mechanism could or would be exposed, imo.) That all can be done in short order and as we go along we will see that to be apparently to be a very short period of time. So, we have been told that the PM may have his Cabinet sorted, as early as tomorrow and or even Saturday, imo.. ~ MM

 #116

A legal expert clarifies the authority of the next government to amend the budget

4/2/2020 9:10 PM

The legal expert, Tariq Harb, confirmed that the next new government has the right to make amendments to the draft budget budget for the year 2020.

Harb said in a press statement that the next government has the right to make amendments to the draft budget law, adding that it has the right to send the bill to the House of Representatives an hour after it gains  the confidence of the parliament, because the draft law is ready and has been organized by the previous government

He added that the bill would be sent by the government after it held a meeting in which a vote would be taken to send the bill to the parliament

The Parliamentary Finance Committee revealed that the next federal government to be formed by Prime Minister-designate Muhammad Allawi will make amendments to the draft budget law in 2020

Committee member Shirvan Mirza said in a press statement that "the next federal government may make amendments to the federal budget bill for the current year, indicating that this depends on the government's program

" It could be the government opinion and other trends may make changes to the bill may not make any amendments because the time delay for approval," pointing at the same time that it is not currently known whether the Government carried out any amendments to the draft budget or not?

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MilitiaMan:  The legal expert today comes out and gives us that one the PM gets confidence in in his cabinet, " The next new government" has the right to expose the FML Amendment imo and within an hour after. It also reminds us that the previous government had the draft law already. Why, is that imo important? The 2019 FML Amendmentas noted, has to be exposed during that time frame once the 2020 budget gets in front of Parliament's eyes. It will have the FML Amendment mechanism we await. That mechanism (rate)  has been hidden for a very good reason and it imo will precede that exposure. The CBI has my attention big time.. imo ~ MM

An economist explains the reasons for imposing large benefits on bank borrowers

09:00 - 05/02/2020

On Wednesday, economist Qusai Safwan explained the reasons for imposing large interest on bank loans, stressing the need to move bank deposits towards investment.

Safwan said in a statement to the "information", that "the Iraqi economic environment needs an interaction between the money market and the stock market, as the Iraqi banking system does not deal with the name system, and therefore needs to move the savings of depositors through the trade in the name and this will be reflected in the process of expanding industrial companies And commercial and leads to absorption of labor.”

He added that "what is understood in the current banking system is not concerned with the process of creating job opportunities, and the Central Bank has been trying in recent years to redesign the banking policy towards creating job opportunities through direct and indirect investment."

And that "the banks put a previous interest in creating revenue through the currency auction only, and after the central bank controls the exchange rate, the banks recently moved to move savings through lending, and it is a shame to impose huge benefits on the beneficiaries."

He explained that "there is an urgent need to reduce the value of interest obtained from loans, as the imposition of interest came as a result of the existence of idle savings that did not find the appropriate financial environment to reduce interest, and the solution to reduce this interest is through moving deposits towards investment."

MilitiaMan:  The effects of all this are going to be profound. Not only for the Citizens of Iraq, but, with the level of re construction efforts expected, it will be affecting  millions of people Globally!! The inter connectivity of the money market and stock markets both internal and external will be the vehicle to massive amounts of money and asset allocation movements. What this does by introducing a new mechanism to Iraq's currency will have transitional effect on the bank share returns (value), will draw in more three zero notes out of circulation into the banks for to invest into projects and employment supporting a real and viable market economy.  Just as the above spells out.. I'll leave you with this supporting data on the above, below. They have the mechanism to do what I point out, imo.  They have the new PM who is about to bring the mechanism to public view, thus, the CBI ? Yes, has my eye!! ~ MM

Raising the stock price improves the reality of trading

Tuesday 04 February 2020

Baghdad / Mustafa al-Hashemi

 The Central Bank of Iraq discussed with the Securities Commission and the Iraq Stock Exchange the mechanism for increasing the return on bank shares and improving the circulation of those stocks, at a time when specialists stressed the importance of adjusting stock prices to attract more investors to support the Iraq Stock Exchange. A statement of the bank confirmed, "Al-Sabah" received a copy of it that this came during the meeting of the Central Governor Ali Mohsen Ismail with the Chairman of the Securities Commission, the Executive Director of the Iraq Stock Exchange and the Executive Director of the Iraqi Private Banking Association.

He added: This comes "within the efforts of the Central Bank of Iraq in maintaining the stability of the economic process."

Increased yield 

He continued: "During the meeting, a mechanism was discussed to increase the return on bank shares, improve the circulation of those shares, as well as increase the transparency of banks to disclose performance and a set of other recommendations."

The low share price and the modest profits distributed by the companies to the shareholders are one of the most prominent reasons facing the increase in trading volume at the local level, while the number of foreign investors (from a distance) is going up in a stable and slow rise, which requires - according to monitors - a review of the stock prices offered for trading, As stated in Article (13) of the regulatory instructions for trading securities in the Iraqi market No. (74) for the year 2004: “The price of buying and selling orders is raised or reduced by (50) fils or its multiples.”

Variation in prices

In this regard, economic researcher Firas Amer stated that there are "companies trading on the stock exchange and their share price rates are still less than one dinar, while there are companies whose share prices reach four dinars."

Amer told Al-Sabah that “this price is very modest, especially when distributing profits, as some of the shareholders of new traders draw great hopes on the amount or percentage of profits, but they are surprised by the small amount achieved from trading because of the low price of shares.”

Traders' audience

Amer stressed the importance of "reviewing the stock price rates, which would increase the number of traders in order to enhance the stock market's work, to reach the level of ambition," noting that "the increase in the share price will contribute to the final outcome by attracting the largest number of investors, whether they are local or Foreigners. "

The consultant specialized in the stock market, Mahmoud Munther, said in an earlier interview with "Al-Sabah": "The supply of shares is much greater than required, indicating that it came as a result of increasing the capital of banks to 250 billion dinars, reflecting that negative impact on stock prices," noting that " Underwriting is now the best investment because it is guaranteed with the lowest risk and the lowest risk. "

Specialists explain the reason for the decline in the turnout or the reluctance of citizens to enter the stock market to the prevalence of the idea that buying fixed assets is much better than investing in buying and selling stocks on the stock market, as a result of the weak culture of trading in bonds and shares of companies in the stock market.   LINK

Militiaman:  Final Recap? The data above in orange (Bold) , will Trump many things.. imo ! ~ MECHANSIMS ~ MM

"the increase in the share price will contribute to the final outcome by attracting the largest number of investors, whether they are local or Foreigners. "