More Iraqi News Tuesday Late PM 1-18-22
More Iraqi News Tuesday Late PM 1-18-22
TLM724 Administrator BondLady’s Corner
Al-Kazemi’s Advisor Identifies Two Main Measures To Achieve Financial Discipline In The Budget
Political Baghdad - conscious - Nassar al-Hajj Today, Tuesday, Adviser to the Prime Minister, Mazhar Muhammad Salih, recommended the adoption of financial discipline after the rise in oil prices, while noting that this would avoid resorting to debt and hedge against oil price shocks.
Saleh told the Iraqi News Agency (INA), that "good use of resources and raising the productivity of government spending has become an important requirement of the white paper for financial and economic reform in achieving financial consolidation or discipline in Iraq," noting that "during long time decades there was unproductive spending.
A waste of financial resources, especially in wars and conflicts, all of which led to the squandering of public budget resources.
He added that "financial discipline means the optimal use of budget resources and raising the levels of good management without financial waste that ultimately arranges resorting to unjustified debt, and it also hedges against external price shocks generated by oil market surprises and price fluctuations and their sudden decline without knowing the reasons, which leaves traces directly detrimental to the stability of the country's financial sustainability."
Yesterday, Monday, Adviser to the Prime Minister, Mazhar Muhammad Salih, presented a proposal to establish a fund or account concerned with the stability of the budget and to be fed annually with a percentage of the surplus oil revenues, to hedge against the risks of price fluctuations. https://www.ina.iq/146612--.html
Iraq Agrees With Siemens To Produce Hydrogen
Monday 17 January 2022 19:10 | economic Number of readings: 79 Baghdad / NINA / - The Ministry of Oil announced an agreement with the "Siemens" Energy Company to produce hydrogen in a step towards shifting to clean and renewable energy.
The ministry said in a statement that it and the German company "Siemens" have begun to open horizons for serious cooperation in the clean and renewable energy sector, especially hydrogen production, which is one of the most important pillars of the transformation of clean energy, environmental protection and emissions reduction, and is consistent with the requirements of achieving the goals of the green fuel revolution.
She indicated that Siemens is one of the world's leading companies and will supply the energy sector in Iraq with advanced technologies and equipment in this field, in addition to organizing specialized workshops that contribute to finding realistic solutions for energy and environment in Iraq,
as well as harnessing artificial intelligence programs to raise rates. Performance for workers in this field to pave the way for a clean, safe environment and renewable energy that supports the Iraqi economy and sustainable development.
The ministry indicated that hydrogen is a carbon-free energy source that is being produced and developed according to industrial processes in the field of scientific research.
She explained that she organized, in cooperation with Siemens Energy, today, Monday, a specialized workshop entitled "Hydrogen.. The future of clean energy.. Solutions for production and use in power generation."
Another about the energy transition, hydrogen solutions, and a topic on "Applications in Iraq... Challenges and Opportunities for the Next Steps." https://ninanews.com/Website/News/Details?key=951135
Saleh Al-Hamashi To / NINA /: The Solution To The Economic Crisis Lies In Structuring The Economy And Liberating It From The Grip Of The State
Monday 17 January 2022 21:22 | economic Number of readings: 77
Baghdad / NINA / - The economic expert, Saleh Al-Hamashi, confirmed that the solution to the economic crisis afflicting the country lies through structuring the economy and liberating it from the grip of the state.
He told the National Iraqi News Agency ( NINA ) that the solution is not to lay off employees or reduce state spending, but rather by putting forward the idea of forming an economic crisis cell to confront the very near global change from oil and the trend for clean energy.
Al-Hamashi added: If the Iraqi governments cannot find alternatives to finance a non-oil budget within the next five years, the solution will be very difficult and expensive for the Iraqi state.
He stressed: The solution today is to restructure the Iraqi economy and liberate it from the grip of the state, which has failed to manage and develop its non-oil resources.
https://ninanews.com/Website/News/Details?Key=951169
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