More Iraqi News Late Thursday PM 10-7-21
More Iraqi News Late Thursday PM 10-7-21
TLM724 Administrator BondLady’s Corner
British Report: Iraq Will Not Recover Economically During 2022
Money and business Economy News _ Baghdad The British "Economist Intelligence" magazine expected that five countries, including Iraq, will not recover economically during 2022.
The magazine said in a report on its expectations for the economic and financial conditions in the Middle East for the next year, that "the Middle East will remain a very complex place for international business interests, but it will remain a strongly attractive place for these interests to be active and invest in it."
The report took into account the inequality between the countries of the region in the fight against the Corona virus and its repercussions on the investment climate in the region. While the oil-rich countries in the Gulf Cooperation Council recorded high rates of vaccination for their citizens (by up to 70 percent), most of the countries in the region are still It suffers from the lack of sufficient vaccines on the one hand, and the slowness in its administration on the other hand.
The report added that "the crisis witnessed by the raw materials markets, specifically the energy markets, as a result of the Corona pandemic, was fortunately shorter than the time taken by the global financial crisis in 2008-2009 and the crisis of low oil prices in 2014-2015."
And she expected that "there will be an increase in the momentum of economic recovery next year, which will enable a good number of countries in the region to compensate for the losses they incurred due to the pandemic, with the exception of crisis countries such as Iraq, Lebanon, Syria, Palestine and Yemen.
According to the report, the recovery of oil and gas prices will play a key role in stimulating recovery, with expectations that the average of these prices will reach about $70 a barrel, which will ease budget pressures for oil-producing and exporting countries and help stimulate investments,
in addition to easing closures and travel restrictions, which It will revive non-energy businesses, such as travel and tourism, which may be the main beneficiaries of this development, but the great threat to this recovery comes from the potential developments of the Corona virus and the possibility of the emergence of new strains of it. Views 336 Date Added 07/10/2021 https://economy-news.net/content.php?id=26546
World Bank: Financial Performance Hurt The Middle East's Handling Of The Pandemic
Economie| 09:14 - 07/10/2021 Follow - Mawazine News Today, Thursday, the World Bank confirmed that countries in the Middle East and North Africa are struggling to recover from the Covid-19 crisis, as economic crises have been exacerbated by weak financing of public health systems.
The bank said in a report that the total cost of the COVID-19 pandemic, estimated according to GDP losses, will reach nearly $200 billion in the region by the end of the year.
According to the report, 13 of the 16 countries in the region will record a decline in living standards this year compared to conditions before the pandemic, as GDP per capita is expected to decline by 1.1 percent this year after a 5.4 percent decline in 2020.
The bank said, "Economic trends Long-term social and underfunded public health systems have left the Middle East and North Africa ill-equipped to deal with the pandemic, which is contributing to a fragile and inhomogeneous recovery as the region strives to overcome the COVID-19 pandemic.
In the ten years leading up to the pandemic and following the 2011 Arab Spring protests, the region failed to undertake deep reforms aimed at transitioning to a market-based economic model, which led to the expansion of the public sector.
"In this context, the Middle East and North Africa region suffered from poor financial performance with rising public sector wage bills and ultimately government spending on health becoming unusually low relative to the level of development in the region," the bank said.
Most of the countries in the region recorded a greater than average increase in government spending ratios to GDP between 2009 and 2019, compared to their peers that started at the same level of per capita income.
"In the social context prevailing in the region, many countries have over-employed government sector workers to maintain peace and social harmony," the bank stated.
"For all MENA countries for which data are available, the rates of government spending on health compared to spending on public sector wages are lower than in other countries with the same income," he added.
Looking ahead, the Bank expects a heterogeneous recovery, partly due to different vaccination rates against COVID-19, with richer countries leading by a wide margin.
“Health and the economy have become intertwined ... What ultimately turned out to be key is how we fight a pandemic,” Roberta Gatti, chief economist for the Middle East and North Africa at the World Bank, told Reuters.
"Improving investment in collecting, sharing and disseminating data can take a long time, and it may be something cheap that can be done to contribute to monitoring the area," she added.
https://www.mawazin.net/Details.aspx?jimare=170251
Weekly Trading Indicators For The Iraqi Stock Exchange
Stock market Market Economy News – Baghdad The Iraqi Stock Exchange organized during the first week of October 2021 four trading sessions from Monday 10/04/2021 to Thursday 07/10/2021, as the trading session was not organized for Sunday 10/03/2021 due to an official holiday. .
During this week, check the indicators below:
The number of shares traded during this week reached more than (1) billion shares.
The value of traded shares this week amounted to more than (1) billion dinars.
The trading index closed in the market for the first session of the week at (587.87) points, while the index closed at the end of the week at (592.50) points, achieving an increase of (0.78%) from its closing in the first session.
During the week, more than (800) buying and selling contracts were executed on the shares of companies listed in the market. Views 239 Date Added 07/10/2021 https://economy-news.net/content.php?id=26548
The Iraqi Stock Exchange Stops Trading For One Day
Stock Exchange «Economy News» Market Economy News – Baghdad The Iraqi Stock Exchange (the Stock Exchange) announced on Thursday that it will not organize a trading session next Sunday.
And the market said in a statement seen by "Al-Iqtisad News", on the occasion of organizing the parliamentary elections in Iraq on Sunday, October 10, 2021, the market will not organize the stock trading session for this day.
He added, "The sessions will be organized as of Monday 11/10/2021, according to their official timings."
Views 345 Date Added 07/10/2021 https://economy-news.net/content.php?id=26547
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad The exchange rates of the dollar rose, today, Thursday, in the local markets.
And the selling prices of the dollar were recorded at 148,500 dinars per 100 dollars, while the purchase prices of the dollar were 148,000 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, and 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. Views 69 Date Added 07/10/2021 https://economy-news.net/content.php?id=26537
To read more current and reliable Iraqi news please visit BondLady’s Corner: