More Iraqi News Thursday PM 2-3-22
More Iraqi News Thursday PM 2-3-22
TLM724 Administrator BondLady’s Corner
Judge Wael Abdel Latif Presents A White Paper For "Financial Reform"
Wednesday 02 February 2022 16:39 | economic Number of readings: 221 Baghdad / NINA / - The politician and former MP, Judge Wael Abdel Latif, presented his white paper for financial reform, which included about 23 points, the entirety of which relates to the financial and economic axes in the Iraqi state, the most important of which is reducing the salaries of the three presidencies, protections and petty cash by 50%, reducing the salaries of members of the Iraqi parliament by half 50%, stopping the salaries of provincial council members, reducing the salaries of special grades from a general manager onwards 30%, stopping petty cash for ministries and delegations outside the country, stopping the pensions of members of the Governing Council, the Assembly and the National.
The reformist paper of Abdul Latif also included stopping the pensions of members of parliament and provincial councils for all previous sessions, stopping multiple salaries and limiting them to one salary only, and the pensions of ineligible people who have no service in the Iraqi state for more than 15 years, and space in all ministries and state institutions. / https://ninanews.com/Website/News/Details?key=954288
The Kurdistan Regional Government Discusses Its Obligations And Rights In The Federal Budget
Posted On 2022-02-03 By Sotaliraq On Wednesday, the Kurdistan Regional Council of Ministers held its weekly meeting headed by Masrour Barzani; During which he discussed a number of topics, including the work of the joint team of the federal and regional financial audit bureaus, which prepares its joint report on the region's obligations and entitlements in accordance with the budget law.
The regional government said in a statement that at the beginning of the meeting's agenda, the Prime Minister presented a summary of his visit to the United Arab Emirates, referring to his meeting with the Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, Sheikh Mohammed bin Zayed Al Nahyan, and a number of senior Emirati officials, who In it, the importance of expanding the horizons of relations between the Kurdistan Region and Iraq with the UAE was emphasized, especially in the economic, investment and human development fields to serve development and construction efforts.
The Prime Minister touched on other files that took place during the talks with senior Emirati officials, including the political process in Iraq, overall developments in the Middle East, and the importance of supporting efforts and efforts to consolidate the pillars of peace and stability in the region and build a better future of coexistence.
Subsequently, the head of the Department of Foreign Relations, Sven Dizayi, shed light on the conditions of the migrants of the Kurdistan Region abroad in general, especially the recent disaster that resulted in the death and loss of a group of citizens of the Kurdistan Region as a result of the capsizing of three boats late last year, some of whom are still missing .
The head of the Foreign Relations Department referred to the efforts made by the Kurdistan Regional Government to return the bodies, as well as to return the survivors and search for the missing in cooperation with the Greek Consulate General in Erbil and the Greek Embassy in Baghdad, as well as the department's continued communication with the International Organization for Migration, the United Nations Mission (UNAMI) and the Union Office European in Erbil.
In this regard, a delegation from the Department of Foreign Relations visited Greece, and met with the official in the migrant file in Greece, and on the basis of those efforts, and under the direction of the Prime Minister, the bodies of nine migrants were handed over to their families, and the delegation of the territorial government will also conduct another visit to Greece to deliver DNA samples The DNA of the families of 29 victims, in addition to discussing the case of 11-year-old Rewar Rebwar and returning him to Erbil.
The Council of Ministers commended the efforts of the Department of Foreign Relations and the Ministries of Interior and Health, and directed the same authorities to continue their efforts in this regard. It also instructed the Ministry of Interior to continue to follow up and investigate individuals and companies that trade in human beings and endanger the safety of the citizens of the region, while taking legal measures against them.
At the same time, the Council of Ministers called on Greece to continue searching for the missing, and expressed the regional government's readiness to take any necessary measures in this regard.
In the third paragraph of the meeting’s agenda, Health Minister Saman Barzanji reviewed a report on the outbreak of the mutated Omicron from the Corona virus in the region, the level of ministries’ commitment to receiving vaccinations by employees and workers in the government sector, and the necessary preparations to protect teachers, educational cadres, students and students after the resumption of the educational process.
The Cabinet praised the Ministry of Health, doctors, health staff and ministry employees who succeeded, with the support of the international partnership and the World Health Organization, in combating the epidemic during the peak of its spread. It also stressed the importance of continuing vaccination campaigns and adhering to preventive measures by citizens with the aim of containing the epidemic and protecting public health.
In the fourth and final paragraph of the meeting’s agenda, Minister of Finance and Economy Awat Sheikh Janab highlighted the progress made in the work of the joint team of the Federal and Regional Financial Supervision Bureaus, which in the meantime is preparing its joint report on the region’s obligations and entitlements in accordance with the budget law.
After that, Cabinet Secretary Amanj Rahim reviewed a detailed report on the obligations of the Kurdistan Region in the light of Article 11 of the Federal General Budget Law for the year 2021, and the report included sales revenues of 250 thousand barrels of oil from the region at the price of the company (SOMO) to the Federal Ministry of Finance, and the subject of a settlement Balances of the Commercial Bank of Iraq by the region’s banks, follow-up of non-oil revenues in the region, and preparation of the unified trial balance in the region’s departments for all months of 2021,
and it includes all the region’s revenues and expenses, in addition to presenting the biometric project for the registration of salary recipients, as the Cabinet Secretary indicated the importance of submitting Information and tables for the joint team of the Financial Supervisory Bureaus in a clear and transparent manner, so that there is no excuse for the federal government not to disburse the financial dues to the region according to the budget law.
The Council of Ministers confirmed the implementation of the region's obligations in the budget law, and directed the ministries in coordination with the Ministry of Finance and Economy and the Office of Financial Supervision. The joint team of both offices is scheduled to start its work on the 6th of this month. LINK
The Governor Of The Central Bank Of Egypt Confirms His Desire To Visit Iraq And Open Bank Branches
Part of the meeting of the Governor of the Central Bank of Iraq and the Governor of the Central Bank of Egypt
Banks Economy News _ Baghdad The Governor of the Central Bank of Egypt, Tariq Amer, confirmed his desire to visit Iraq and open branches of Egyptian banks.
The Governor of the Central Bank of Egypt, Tariq Amer, said during his meeting with the Governor of the Central Bank of Iraq, Mustafa Ghaleb, that we have the desire to open branches of Egyptian banks in Iraq, as well as approval of the opening of branches of Iraqi banks in Egypt.
Amer added, that we want to facilitate the tasks for Iraqi and Egyptian investors.
Views 207 Date Added 02/03/2022 https://economy-news.net/content.php?id=27174
The Minister Of Labor Is Discussing With The Association Of Iraqi Private Banks Cooperation In The Implementation Of Projects And Programs To Support The Categories That The Ministry Is Concerned With
Banks Economy News _ Baghdad The Minister of Labor and Social Affairs, Dr. Adel Al-Rikabi, discussed with the delegation of the Association of Iraqi Private Banks the (Tamkeen) Fund initiative headed by the Central Bank of Iraq and the Association of Private Banks, and the possibility of implementing projects and programs to support the categories concerned by the Ministry of Labor.
During his meeting with the delegation of the Association, in the presence of the Director-General of the Department of Labor and Vocational Training and the Director-General of the Department of Social Protection for Women, the minister said that Iraq suffers from economic living problems, most notably poverty, unemployment and slums that have social, family and even security repercussions, pointing out that most of the country's problems can be solved in the Ministry Work if the necessary support is provided.
He explained that the ministry provides services to wide segments, including the category of people with disabilities and beneficiaries of social protection for poor families, as well as the category of the unemployed, noting that the doors of the ministry and its departments and bodies are open to receive any support or cooperation in areas related to social affairs.
During the meeting, they discussed cooperation in rehabilitating shelter homes and granting soft loans to establish real projects of economic feasibility. The two years are from four departments to find fruitful cooperation formulas for the groups benefiting from the ministry's services.
Views 126 Date Added 02/03/2022 https://economy-news.net/content.php?id=27168
Energy Balancing In Iraq?
Articles Ahmed Al-Hathal The planned budget for the energy sector (oil - electricity - the dues of the Basra Gas Company) amounted to about (33.3) trillion dinars in the year (2021), and it constituted as a percentage of total spending about (25%), and the budget of the Ministry of Electricity amounted to about (17) trillion, most of which was Current if it reaches about (14.3) trillion dinars, of which (13.5) trillion is under the item of commodity requirements.
As for capital, from the total, about (2.6) trillion dinars, and the budget of the Ministry of Oil amounted to about (15.1) trillion, most of which are dues for extractive oil companies included in the capital budget and amounted to about (13.6) trillion, and the current oil budget amounted to about (2.5) trillion dinars.
The problem of electric power in Iraq is represented in the asymmetry of demand and supply, especially in peak times, as Iraq needs approximately (28) gigawatts, i.e. (28000) megawatts, which is available in peak times, with the total energy import not reaching nearly (18) gigawatts, i.e. (18000) ) megawatts, 3) A trillion, while it can be noted that the German company Siemens in the year (2018) offered Iraq a roadmap agreement to develop the electricity sector with a value of approximately (15) billion dollars, and in the year (2019) it was agreed with the two parties, as a first stage, to award contracts worth (700) ) million euros,
which includes the construction of a gas-powered power plant with a capacity of (500) megawatts in the Zubaidiya area, the construction of more than (13) stations and the supply of (40) gas turbines using cooling systems, and it pledged to provide more than (25) gigawatts (25,000) megawatts, i.e. 89%) of Iraq’s need for electric power at peak times, and the amount with the German Siemens is close to the budget of the Ministry of Electricity for the year (2021) only and not for all years of the general budget, so why did this agreement not continue?! The experience of Egypt and its agreement with Siemens is not far away.
Within (3) years, the company was able to build three stations, the largest in the company’s history. Siemens signed a deal worth (7.
The problem of electricity is in large part an international and regional political one. Its motives are first, financial and administrative corruption, and secondly, the failure to implement economic development plans and the disruption of the agricultural and industrial sectors so that the economy remains exposed to its foreign trade, which has a rate of openness of about (70%), and thirdly, social as a A blazing fire every summer peak to ignite the Iraqi street.
Iraq needs a specialized company that deals with the electricity problem radically, starting with structuring this sector as a whole, developing the current energy and building additional stations to start the correct production process, and then addressing the transmission and distribution networks and dealing with energy losses.
Its outputs, for example, are (20) megawatts, and here the energy sector loses about (10) megawatts, in addition to that, processing and structuring the Ministry of Electricity and making it one of the (profitable) holding companies and setting up a system for collecting energy outputs, provided that the ministry provides capacities to meet local demand in order to dispense with private generators and achieving self-sufficiency in this sector.
Economic Researcher Views 81 Date Added 02/03/2022 https://economy-news.net/content.php?id=27167
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