More News, Rumos and Opinions Friday PM 11-24-2023
TNT:
Tishwash: With the end of the fiscal year...what will happen to the region's salaries?
Member of the Parliament's Finance Committee, Jamal Kujar, stressed on Friday that the government must think seriously about overcoming the Kurdistan Region's salaries crisis, pointing out that originally the process of disbursing salaries is not linked to the budget in light of the end of the fiscal year.
Cougar said in an interview followed by Al-Maalouma, “Disbursing salaries in the absence of a budget or mechanism for disbursing them, resorting to 1/12 of the Financial Management Law is used to disburse salaries.”
He added, "Meaning, whether there is a budget or no budget after the end of the fiscal year, the principle is that salaries will continue to be distributed."
The issue of salaries in the Kurdistan region, which constitutes one of the most complex problems between the governments of Erbil and Baghdad, is still the subject of great controversy, and with talk about the Iraqi government’s willingness to pay salaries that have been arrears for two months, provided that they are deposited directly in the accounts of those entitled to it; A question has arisen about the fate of salaries for the remainder of the current year. link
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Tishwash: The end of the current world.. Dubai hosts an investment conference for Iraq
The Iraqi-British Business Council is preparing to hold its conference in Dubai next December 7-8, with the aim of strengthening partnerships and driving economic transformation in Iraq, according to the Emirati newspaper Al-Khaleej.
Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, will deliver a speech during the second day of the conference, under the title “Building a Sustainable Future.”
Undersecretary of the Ministry of Economy for Foreign Trade Affairs Abdullah Al Saleh said, “We join our friends from Iraq and the Iraqi Business Council to discuss joint efforts to assist the country in the reconstruction process.”
The conference will bring together companies working in the field of business and trade, to enhance investment for businessmen, and ultimately support the industry and the Iraqi people.
Al Saleh added: We support the Council’s mission to enable the transfer of technology, infrastructure and expertise to Iraq to enhance its growth and development.
According to the conference management, the significant growth in trade between the UAE and Iraq, which exceeded 60% in 2022, confirms the growing economic relations between the two countries.
The event confirms the UAE's position as the main commercial center of Iraq, and showcases the country's growing role in facilitating international cooperation.
The UAE is seen as a meeting place for everyone from the UK, EU and US to India, Turkey, Iraq and the Gulf.
The UAE also has tremendous potential for investment in Iraq and for companies operating there, without the need for administrative and bureaucratic jobs that can be obtained in Iraq.
Managing Director of the conference, Christophe Michels, explained that the UAE is considered an ideal place, given its role as a regional center linking international companies to Iraq.
Michels added: Many of our members also have headquarters in Dubai, and we expect this conference to have the importance of attendance that decision makers appreciate, and our members expect to communicate with important people.
The conference is being held at an important time, as it addresses pivotal issues such as economic sustainability, education, finance, and climate change.
Vikas Handa, the UAE representative in the council at the regional level, says: The conference is expected to be of great importance for the development and outlook of Iraq in the long term. link
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Courtesy of Dinar Guru https://www.dinarguru.com/
Frank26 When is it going to end? When are we going to have our blessing? When is the new exchange rate going to come out? The chances of that happening are like 99% improved compared to any date in the past...
Militia Man Article: "With the participation of 120 companies...the launch of the Iraq International Building, Construction and Infrastructure Exhibition" This...being launched in Baghdad for the next few days is not surprising at all on the back of all the WTO meetings...since Oct 31st regarding Iraq's accession to the organization. The 2023-2024-2025 budget is about investment primarily into infrastructure. It takes a lot of capital to build a country back...It will take massive amounts. It is far too expensive with 1310 exchange rate. An internationally accepted REER (Real Effective Exchange Rate) will likely make it far cheaper.