More Iraqi News Monday PM 4-12-21
More Iraqi News Monday PM 4-12-21
TLM724 Administrator BondLady’s Corner
Representative Economy: The Government Is Still Weak In Monitoring The Rise In Foodstuffs
Economy Monday 12 April 2021 | 02:45 PM| Views: 175 A member of the Parliamentary Economic and Investment Committee, Representative Nada Shaker Jawdat, confirmed, on Monday, that the measures promised by the government to follow up the issue of high food prices are still weak, calling on the relevant regulatory authorities to tighten supervision over wholesale markets, especially during the holy month of Ramadan .
Shaker said that "speculators in the foreign currency have begun to raise the exchange rate of the dollar, which has a negative impact on the life of the average citizen through the unreasonable rise in the necessary foodstuffs ."
She added that "the real confrontation with the situation of high prices needs a double effort by the government, especially economic security, with the provision of the ration and support with new materials as promised by the government, but the security and control measures are still limited ."
Jawdat called on the government to "provide citizens with an additional quota during the blessed month of Ramadan, as a measure to reduce the greed of currency speculators and merchants."
https://aynaliraqnews.com/index.php?aa=news&id22=146209
Pessimistic Expectations Of An Economist Regarding Monetary Reserves And External Debt Over The Next Two Years
Monday 12, April 2021 10:30 | Economical Views: 350 Baghdad / NINA / The expert in economic affairs, Raad Twaij, suggested that the Iraqi economy declined during the next two years, indicating that the monetary reserve will decrease to 40.8 billion dollars in 2022 and 30.2 billion dollars in 2023, and the government debt will increase compared to the domestic product by 8.89 billion dollars. In 2022.
Twig said in a statement to the Iraqi National News Agency ( NINA ) that "the financial crisis that struck the world and Iraq in particular, due to the Corona virus and the drop in oil prices, will negatively affect Iraq, as the central bank’s cash reserves decline and the foreign debt rises, but in the event that oil prices rise to $ 90."
This will limit these expectations, "noting:" These expectations may be valid in one case, which is exposure to a new oil shock and a drop in oil prices. "
The economic expert stressed "the necessity of following the method of balanced development, that is, working on more investment in the agricultural and industrial sectors in a systematic and planned manner, and moving away from arbitrariness and randomness in managing the Iraqi economy."
Twig suggested: "15% of the oil surpluses are to be transferred to finance a real balanced development at the level of industry, agriculture and education as human development. The results of that development must be quick and fruitful to achieve sustainable development that achieves parity for present and future generations."
He continued: "The rise in oil prices and the reform of the economic sector deserve to turn expectations into reverse and optimistic expectations. "/ https://ninanews.com/Website/News/Details?key=898579
The Release Of More Than (6) Million Carp Swimming Fish In The Marshes Of Maysan
Monday 12, April 2021 10:35 | Economical Views: 271 Amara / NINA / The Livestock Department in Maysan released a meal of carp swimming in the governorate's marshes.
A statement of the department stated that the meal numbered six million and one hundred thousand (6100000) carp fish produced by the Department of Livestock / Maimouna Fish Hatchery in the governorate.
He added, "The shooting took place in the marshes of Maysan Governorate / Al-Kahla / Bani Hashim District / Hor Umm Sheba." https://ninanews.com/Website/News/Details?key=898580
Economist: More Than $ 87 Billion Worth Of State Real Estate Outside Iraq
Monday 12, April 2021 12:23 | Economical Views: 307 Baghdad / NINA / The specialist in crisis management in state institutions, the economist Ali Al-Freiji, revealed that there are more than 87 billion dollars, the value of state real estate outside Iraq.
Al-Fraiji said in a statement to the Iraqi National News Agency ( NINA ) that: More than 87 billion dollars are the value of the state's real estate outside Iraq, about which successive Iraqi governments have not had an accurate count. It was stolen and smuggled.
”He added:“ The report of the European Union in 2020 showed that $ 320 billion from Iraq's budgets had escaped as money laundering in an uncontrolled way, so the European Union included Iraq under the blacklist for the continuity of wasting money, so most countries in the world realize that any A government that will deal with this file will return and steal what is recovered. "
He stressed, "The government lacks a fund to recover stolen state property abroad, as is the case in Nigeria, Peru, Tunisia, and the Philippines, which have succeeded in recovering their property," noting: "Sudan has recovered 1.9 billion dollars from a terrorist who was financing ISIS and he is a big businessman hiding in Sudan. But, thanks to its intelligence information, the Sudanese government was able to uncover it and recovered the money, and this indicates the existence of the government will to retrieve the state's money. "
Al-Freiji added, "Iraq registered its properties in the names of people and companies due to international compliance in the 1990s," indicating that: "The state mismanaged Iraq by dividing the budgets of Iraq on the basis of the interests of parties and not in favor of the people and an economic vision."
https://ninanews.com/Website/News/Details?key=898598
The Implications Of The Economic Reality On National Security .. Future Scenarios
Samir Nasiri *
Introduction
that most countries of the world with emerging economies or fragile economies have strategies for national security that adopt plans to build stability and community building for their people, and the most prominent of these plans is related to ensuring food security, health security and livelihood security as basic and methodological priorities for building a safe, stable and developed society, and this, by the way, is what I emphasized and clearly indicated.
The vision of Iraq 2030.The basis for achieving this is the robustness and sobriety of the pillars upon which the national economy is based, and the economy is the main axis of the national security strategy.
The relationship between the economy and national security
Iraq is currently going through a critical, important and sensitive stage due to the political, security and economic conditions, and it can be identified in particular with regard to the fluctuation of global oil prices up and down since June 2014 until the present time, the spread of the Corona pandemic and the global economic recession, in addition to the economic reality in Iraq, the stifling financial crisis, the war on terror, and the price reduction The exchange of the Iraqi dinar and the implications of that on our entry into the economic depression phase, which led to clear confusion in preparing the 2021 budget and an inflated current spending in it, which generated a large deficit that exceeds the percentage determined to the gross domestic product in the Financial Management Law, which is 3% and delayed its approval in the House of Representatives. It also indicates the economic reality, according to official data
Unemployment rates rose to more than 30% and reached more than 40% in some governorates for the workforce capable of work, and poverty rates rose to 31%, up to 14 million people, which led all these challenges to high rates of financial and administrative corruption and the suffering of the people.
The Iraqi lack of services and the apparent deficiency in achieving food, medicinal and societal security in Baghdad and the provinces and the failure to return more than a million and five hundred displaced people to their governorates so far despite the liberation of their areas from terrorism for subjective and objective reasons, which confused the implementation of the plans drawn up to build national security in its general sense, which must achieve the basis In the economic stability and development of Iraq,
in addition to the confusion that accompanied the change process after 2003, the lack of a unified economic vision and methodology for the form of the new state and how the economic structure would be in it, where the loss between a central economy and wishes for the transition to a market economy led to complex internal conditions that impeded The development process of Iraq, despite the passage of more than eighteen years since the change, and the matter has become more complicated and difficult with the changes taking place in the region and the world.
Therefore, we believe that building the foundations of the national security strategy in its comprehensive concept, with a focus on the economic side, must result in achieving security, stability and economic development in a way that contributes to the well-being of society, and that it is effective and feasible in the current circumstances in which Iraq lives.
Therefore, many citizens and from various levels of government The political and economic, university professors and civil society organizations of youth, women and professionals must contribute to its preparation.
The enormity of the threats to Iraq, internally and externally, and we focus here on the threats related to expectations of economic collapse and waste of public money and the continued decline in oil prices globally requires standing firmly for all governmental, political and popular bodies in order to protect Iraq and sustain building its economy according to the realistic data that are below everyone’s level of view.
There is no doubt that the economic reforms announced by the Prime Minister in the White Paper, most of which need a long time in order to implement them, requires reconsideration of the directions that must be adopted as an economic strategy to achieve national security, in which he focuses on Article 25 of the Constitution and other articles related to the state guaranteeing a decent life.
For the individual and the family, it guarantees social justice among all groups and sects of the Iraqi people, and this strategy must include a realistic application of the axes of the government program in its economic and security dimension, and most importantly, the claims.
Legitimacy in eliminating financial and administrative corruption, addressing unemployment and poverty, and returning Iraq’s money stolen from the corrupt.
The basic economic principles of a national security strategy
1- The sovereignty of Iraq and its integrity and territorial integrity
2- Building a healthy and multi-resource national economy
3- The private sector plays the pivotal role of leading the market
4- Providing food, medicinal and environmental security for citizens
5- Ensuring a decent life for the individual and the family
6 - Reforming and developing the financial and banking sector and increasing the percentage of its contribution to Economic development
7- The state guarantees social justice for citizens
8- Protecting the spirit of citizenship and civil peace
9- Reforming and developing good governance institutions to provide the best services to citizens
10 Information security and transparency in economic data and indicators
Futuristic Senorhat
We note through analyzing the above basic and economic principles that building a sound economy that achieves with its final results prosperity and prosperity for society and the basis for building a strategy for national security goes beyond protecting internal security to protecting the homeland and ensuring its safety from external enemies.
Therefore, we stress here that strengthening national security at home and from outside requires From all concerned governmental and political authorities, the private sector and economists to study, discuss and analyze the challenges and reform measures for a secure Iraq and a solid economy. Therefore, we propose the following: -
1 Accelerate and activate the axes mentioned in the white paper by setting up policies and implementation and implementation mechanisms that shorten the time for developing productive economic sectors and diversifying non-oil revenue sources with trends that achieve what was mentioned in these axes in their detailed aspects and setting a time limit for the implementation of each article of the aforementioned axes articles Above, not exceeding two years.
2 The government has formed the Supreme Council for Economic Affairs, which is made up of experts from the government and the private sector in order to carry out economic reform and the first step of it is banking reform in a way that enhances the role of the Central Bank of Iraq and the ministries concerned with economic affairs (finance, agriculture, industry, planning, oil and electricity) in order to enhance effective coordination And the harmony between the fiscal and monetary policies, and to replace the newly formed Economic Reform Commission
3 Take quick measures to address the financial liquidity crisis that Iraq suffers due to the drop in oil prices, the war on terrorism, self-economic problems and poor economic planning. We affirm the need to make use of the national economic, financial and technical competencies and experiences in managing the work of the basic economic circles in the country.
4 Activating and developing implementation mechanisms for economic reform measures to support, develop, and involve the private sector in legislative and institutional economic decision-making, and to establish a private sector council according to the vision of the private sector development strategy (2014-2030) prepared by the relevant expert committees in the Council of Ministers with the United Nations Development Program With a focus on what I dealt with in its three phases and actually starting to implement them, determining the time limits to put them into practice, and determining the elements of implementation, taking into account the circumstances that Iraq is currently going through.
5 Encouraging banks to take real action by expanding banking financing in accordance with the central bank’s initiatives to favor small, medium, housing and investment projects, and to activate, implement, and define mechanisms and flexible instructions for implementation.
With clear foundations to ensure the transparency of data and entities that have been lent by government and private banks, and proactive monitoring during implementation and after implementation on the beneficiaries of these loans in a way that serves the central goal of allocating them to accelerate the economic cycle, reduce unemployment, develop small and medium enterprises, and contribute to development.
* An economic and banking advisor Number of observations 151 Date of addendum 04/12/2021
https://economy-news.net/content.php?id=24794
Representative Economics Recommends Boosting Imports To Cope With Price Hikes
Money and business Economy News _ Baghdad The Parliamentary Economic and Investment Committee revealed a working paper and proposals to address the high prices of foodstuffs in the markets, the most prominent of which is the strengthening of the Ministry of Trade's import of basic food products, while economists believe that the high demand, the insufficiency of the local product, the change of transportation methods and the closure of outlets are additional factors that contributed to this problem.
The markets have witnessed a steady increase in prices recently, as the price of a bag of rice, despite its distribution within the ration card items, jumped from 35 thousand dinars to 51 thousand dinars, while the bag of beans rose from 42 thousand to 48 thousand dinars, accompanied by a large increase in the price Chickpeas, one kilogram of which amounted to 4,500 dinars, after it did not exceed two thousand dinars. As for tea, it also witnessed a rise from 35 thousand dinars to 42 thousand dinars per carton, and the prices of sugar, milk, meat, chicken and oils also increased.
A member of the Parliamentary Economic and Investment Committee, Hamid Al-Mousawi, said in an interview with Al-Sabah newspaper, which was followed by Al-Eqtisad News, that “the committee is working to present a working paper and proposals to address the rise in food prices, especially basic foodstuffs, with the approaching month of Ramadan. "At prices lower than what currently exists, to address the problems of supply and demand, in addition to price control and accountability for greedy traders ."
Moussawi called for "granting import licenses, especially for secured traders, to solve this problem and return prices to normal."
The Ministry of Trade promised to distribute the ration card items into two meals, "a late procedure that did not fulfill the purpose" because prices rose for some time and will continue even after the passage of the holy month in the event that the main causes are not addressed.
Number of observations 150 Date of addendum 04/12/2021
https://economy-news.net/content.php?id=24789
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