More Iraqi News Tuesday Late PM 6-22-21
More Iraqi News Tuesday Late PM 6-22-21
TLM724 Administrator BondLady’s Corner
Al-Zubaidi: Statements Deleting Zeros Entered The Country's Economy Into A New Depression
Tuesday 22 June 2021 11:38 | Economic Number of readings: 337 Baghdad / NINA / - The independent politician, Thaer Munir Al-Zubaidi, confirmed that the statements of deleting zeros entered the country's economy into a new depression, to which are added the ill-studied economic and financial plans.
And he said in a press statement today that: the recent irresponsible statements about the deletion of zeros from the national currency on the one hand and the rise in the dollar exchange rate on the other hand constituted confusion and more depression in the Iraqi markets, which affected the work of the private sector in general.
Al-Zubaidi added that: the government measures to stop the deterioration of the national currency have not yet reached the required level, and the dollar exchange rate remained high without urgent and tangible solutions, despite the rise in the price of a barrel of oil to nearly $75.
He explained: We also did not witness any serious moves by the government and the regulatory authorities regarding the abnormally high food prices, which increased the suffering of people, especially the owners of daily work and limited income.
Al-Zubaidi called on the Prime Minister to hold an urgent meeting with the Ministry of Planning, the Governor of the Central Bank, the Integrity Commission and the supervisory authorities to remedy the collapse of the Iraqi economy and its negative effects on the standard of living of the citizen./End 3
https://ninanews.com/Website/News/Details?key=911436
Parliamentary Finance: The Market Movement Is Heavy.. This Is What The Government Spent Within 6 Months
Economy Tuesday, June 22, 2021 | 02:52 PM| Number of readings: 116 A member of the Finance Committee, Jamal Cougar, described, on Tuesday, that the market movement is heavy, while revealing the amount of what the government spent during the first half of this year .
Cougar said, "The government is slow in implementing the budget," noting that "the appeals were submitted to only 10 out of 60 paragraphs," noting that "the appeals do not affect the disbursement of the budget ."
And he indicated that "the market movement is slow and the government is required to expedite the release of the dues of contractors and citizens and to speed up the delivery of governorate budgets, which is the main motive in moving the market and providing many job opportunities ."
He pointed out that "the government exceeded the first half of the year without spending 80% of the budget." https://aynaliraqnews.com/index.php?aa=news&id22=148912
The First Since 2019 .. The Rise In Oil Prices And Brent Records Records
Economie| 09:10 - 06/22/2021 Follow-up - Mawazine News: Oil prices continue to rise, on Tuesday, as the price of Brent crude reached record levels, the first since April 2019, while investors remained optimistic about the rapid recovery in global oil demand, with concerns about the early return of oil to Iranian crude.
Brent crude futures for the month of August rose 26 cents, or 0.4 percent, to reach $75.16 a barrel, the strongest since April 25, 2019.
The price of US West Texas Intermediate crude for the month of June reached $73.70 a barrel, up 4 cents, or 0.1 percent.
Both benchmarks have risen over the past four weeks amid optimism about the pace of global COVID-19 vaccinations and the expected recovery in summer travel, as the recovery pushed crude oil spot premiums in Asia and Europe to multi-month highs. https://www.mawazin.net/Details.aspx?jimare=157898
The Advisory Body Is Studying The Investment Of High Oil Prices And Addressing The Effects Of The Dollar Exchange
Economie 2021-06-21 | 13:42 2,500 views Today, Monday, the Council of Advisers in the Presidency of the Council of Ministers revealed two directions through which it works to support and advance the private sector, and while it identified two options for investing in high oil prices, it revealed a joint study to address the effects of changing the dollar exchange rate.
On the sidelines of the e-learning assessment workshop held by the advisory board of the official agency, the head of the authority, Abdul Karim Al-Faisal, said that “the authority, under the guidance of the Prime Minister, Mustafa Al-Kazemi, worked to find ways to support and advance the private sector,” noting that “the president of Ministers see that there is no economy in any country without a strong private sector.
Al-Faisal added, "The authority worked in two directions to support the private sector, the first is to simplify the procedures for obtaining licenses, exemptions, and others, and the second most important is to provide loans to industrialists and private sector men in various commercial, service and health sectors, the repayment of which is long-term and with very low interest rates, at the initiative of the Central Bank and through a committee It is headed by the Secretary General of the Council of Ministers, with the interest of the Council of Ministers and the President of the Council in supporting the private sector.
He continued, "We also worked on decisions to own industrial lands for owners of industrial projects who had taken an industrial license or operated it for five years, and it is now under implementation," stressing that "these decisions give great support to the Iraqi product, and therefore the commission was proactive in preparing and taking them."
He pointed out that "the commission, under the guidance of the prime minister, had a role in preparing seminars to hear the problems of the private sector and the problems that are encountered in the investment sector, and they were submitted to the prime minister, and decisions were taken on them."
Regarding the rise in oil prices, Al-Faisal explained that "there is a budget deficit of 29 trillion dinars, and it is possible to bridge the deficit through high oil prices."
He pointed out that "the government is likely to go towards preparing a supplementary budget to address sectors that have not been allocated sufficient funds, such as the health sector and support for farmers and peasants through a committee chaired by Ali Allawi, Minister of Finance, who is an expert in this."
Regarding changing the exchange rate of the dollar, Al-Faisal stressed that "there is a study conducted by the Central Bank with the Ministry of Planning and economic experts, to address the effects of changing the exchange rate process in order to reduce its effects or activate the positive aspects of the decision." https://www.alsumaria.tv/news/اقتصاد/387025/هيئة-المستشارين-تدرس-استثمار-ارتفاع-أسعار-النفط-وم
The Central Bank Of Iraq Announced Today, Monday, The Completion Of The Unified Electronic Bond Project For Letters Of Guarantee.
Monday, June 21, 2021 9:39 AM Baghdad / The National News Center The bank stated, In a statement received by the “National News Center”, that “within the framework of this bank’s efforts to develop the work of the banking sector and within the framework of efforts to automate all stages of issuing letters of guarantee within banks, the Central Bank of Iraq announces the completion of the unified electronic bond project for letters of guarantee that will be extracted Through the electronic platform, where the date of 6/20/2021 has been set as the date for the start of work on it.”
The statement added, “The Central Bank had previously launched on 10/18/2020 the electronic platform project for letters of guarantee that is made from Currently, the issuance and extension of any letter of guarantee within the banking sector.” https://nnciraq.com/70980/
Economist: The Rumor Of Raising Zeros Needs 100 Million Dinars If The Intentions Are Sincere
20:02 - 06/21/2021 Information / Special.. The economist, Dia Mohsen, ruled out, Monday, the possibility of exchanging the currency or removing zeros from it.
Mohsen said, in a statement to the agency, / the information /, that "if the intentions were sincere for those holding on to the authority to replace the currency or raise zeros from it, this means that we need 100 million dollars to make this big change."
He stressed, “The argument for eliminating forgery in this plan requires burning all the money in the central bank and issuing a new dinar, but this matter is unlikely and just a process of feeling the pulse of the street.”
He pointed out that “the change There will be no difference between the local value of the Iraqi dinar and other currencies https://almaalomah.org/2021/06/21/540807/
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