More Iraqi News Tuesday Afternoon 5-31-22
More Iraqi News Tuesday Afternoon 5-31-22
TLM724 Administrator Bondlady’s Corner
An Economist Calls For Transferring Part Of The Oil Revenues To The Sovereign Wealth Fund To Eliminate Unemployment
Monday 30 May 2022 10:46 | economic Number of readings: 189 Baghdad / NINA / - The economic expert, Safwan Qusay, called for transferring part of the oil revenues above $70 to the Sovereign Wealth Fund and financing it from all other revenues to eliminate poverty and unemployment, provide raw materials and deepen investment in industrial and commercial cities.
Qusay said in a statement to the National Iraqi News Agency / NINA/ : " With the continued rise in oil prices and the increase in Iraq's revenues, it became clear the need to accelerate the achievement of the goals of the White Paper, especially economic diversification,
by transferring part of the oil revenues above $70 to the Sovereign Wealth Fund and financing it from all other revenues and linking it to the national development plan and from Then turn it into real productive projects commensurate with the rates of poverty and unemployment, the availability of raw materials, the deepening of investment in the industrial and commercial cities, and the establishment of launching agricultural cities in the system of partnership between the sources of bank financing and the regular private sector and with government supervision and facilities according to the system of joint arrangements.
Qusay continued: "Such treatments will contribute to achieving food, drug, industrial, commercial and cultural security by investing locally available resources with the need to integrate with the regional and international environment with a flexible and multi-dimensional participation system." / End 8
https://ninanews.com/Website/News/Details?Key=979189
An Economist Stresses The Need To Diversify Sources Of Income And Invest In High Oil Prices
Monday 30 May 2022 10:56 | economic Number of readings: 198 Baghdad / NINA / - The economic expert, Malath Al-Amin, stressed the need to put the difference in the price of oil fixed in the budget over the selling price in a special account to invest it in huge productive projects that contribute to money circulation, achieving profits and providing thousands of job opportunities.
In a statement to the National Iraqi News Agency ( NINA ), Al-Amin said : “Oil prices in global markets crossed the level of 120 dollars per barrel, taking advantage of the Ukrainian-Russian crisis and the fear of European countries of the possibility of a war that would lead to a halt in energy supplies, which prompted them to boost their energy stocks and increase prices. globally".
He stressed that: “Iraq should benefit from this matter by maintaining the prices set by (OPEC +) so that the rise in energy prices does not cause a rise and inflation in the prices of agricultural and industrial products,” indicating that
the government can put the amount of the price difference fixed in The budget for the sale price is in a special account to be planned and invested in huge productive projects that contribute to the circulation of money, achieve profits and provide thousands of job opportunities, which will contribute to reducing imports, raising the value of the national currency and achieving the required economic development.
“The government is required to work towards Diversify sources of income and reduce dependence on oil exports as a major source of budget financing,
so that Iraq can face the transformation of the global market’s dependence towards clean energy and reduce dependence on oil as its main source. / End 8 https://ninanews.com/Website/News/Details?Key=979193
The Governor Of The Central Bank Receives A Delegation From The International Company “Visa”
Monday, May 30, 2022 8:25 PM National News Center/ Baghdad The Central Bank of Iraq confirmed, on Monday, its support for the steps of the "Visa International" company in its work in the country.
And the bank stated in a statement, received by the "National News Center", that "the Governor of the Central Bank of Iraq, Mustafa Ghaleb, received a delegation from the International Visa Company, where the company started the first steps of its work in Iraq."
On the sidelines of his meeting with the delegation, he stressed that "the Central Bank of Iraq will support the company's steps in its work in Iraq, because of its importance in attracting sober international expertise and the need to encourage electronic payments and enhance financial inclusion."
He added that "the Central Bank of Iraq pays great attention to developing the banking sector and keeps pace with the latest developments, and we will provide the necessary support for that." https://nnciraq.com/131719/
The Central Bank Of Iraq Meets With The International Visa Company
May 31, 2022 The Central Bank of Iraq meets with the International Visa Company
His Excellency the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhif, received, today, Monday, a delegation from the International Visa Company, where the company started the first steps for its work in Iraq.
His Excellency stressed, on the sidelines of his meeting with the delegation, that the Central Bank of Iraq will support the company's steps in its work in Iraq because of the importance in attracting discreet international experiences and the need to encourage electronic payments and enhance financial inclusion.
His Excellency added:
The Central Bank of Iraq pays great attention in developing the banking sector and keeping pace with the latest developments, and we will provide the necessary support for that. https://cbi.iq/news/view/2011
It Is Likely That Foreign Reserves Will Rise To More Than 70 Billion Dollars
Sumerian special 2022-05-30 | 05:20 Alsumaria - Iraq news Source: Sumerian 495 views Economic reality: the foreign reserves are likely to rise to more than $70 billion.
There is talk of a clear relative increase in the volume of foreign currency reserves for Iraq, to more than seventy billion dollars, amid expectations of positive repercussions if the right development plans are put in place.
Toward high levels, the size of Iraq's cash reserve is increasing.
Expectations indicate that it may exceed the limits of seventy billion dollars at the end of this year.
Developments that many hope will have positive effects, provided that they think about putting development plans at the forefront of work.
This rise in the volume of foreign currency reserves could be a basis to thwart any future moves to raise the value of the dollar, and may constitute a step towards restoring exchange rates stability in a way that is in the interest of the citizen.
This relatively high level makes Iraq reassuring about the level of foreign reserves, and here the need remains necessary for there to be a process of balance between the level of financing and development steps and means of production to achieve stability.
To read more current and reliable Iraqi news please visit BondLady’s Corner: