Iraqi News Saturday AM 6-12-21
Iraqi News Saturday AM 6-12-21
TLM724 Administrator BondLady’s Corner
The Iraqi Parliament: The exchange rate of the dollar against the dinar will be fixed for at least a year
Economy Saturday 12 June 2021 | 02:51 PM| Number of readings: 306 A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed on Saturday that the dollar exchange rate as for the Iraqi dinar will remain “steady for a year at least”, because any change will “harm” government contracts and projects .
Cougar said, "Changing the exchange rate is the responsibility of the Central Bank, and the coffee statement yesterday and the bank's statement came at its time, in light of rumors about the possibility of a new change in the price ."
He added, "The exchange rate of the dollar against the dinar will remain fixed for at least a year," noting that "any change in this price means creating new problems after all government contracts and projects and the public financial budget were built on this price ."
He pointed out that "speculators are the beneficiaries of the process of broadcasting rumors of changing the exchange rate, because the selling price is fixed by the Central Bank," noting that "the government has the authority and the ability to impose the selling price on the participants in the currency auction by issuing a decision or allocating an amount and pumping it to control the market."
https://aynaliraqnews.com/index.php?aa=news&id22=148480
Parliamentary Finance: The Economic Situation Is Very Dangerous After The Rise In The Price Of The Dollar
Economy Saturday 12 June 2021 | 09:27 AM| Number of readings: 68 The Parliamentary Finance Committee revealed, on Saturday, its intention to hold a series of meetings and host the governor of the Central Bank of Iraq after the dollar rose against the dinar, indicating that the economic situation in Iraq will not bear more wrong decisions .
Committee member Shirwan Mirza said, "The continuation of the dollar exchange rate necessitates hosting the governor of the Central Bank and holding a series of meetings ."
Mirza added, "The official dollar exchange rate is 145,000 dinars, and the rise in the price during the past days burdens the citizens and increases popular tension," noting that "the Finance Committee closely follows the currency markets and that the rise in the dollar exchange rate is dangerous and requires decisive intervention ." https://aynaliraqnews.com/index.php?aa=news&id22=148438
An Economic Specialist..Increasing Banks' Shares Of The Dollar Increases Their Profits And Does Not Improve The Exchange Rate
Saturday 12 June 2021 11:23 | Economic Number of readings: 409 Baghdad / NINA / - An expert in economic affairs criticized the Central Bank's handling of the exchange rate crisis by raising the share of banks and offices from the dollar, describing it as "circulating the solution."
Durgham Muhammad Ali said in a statement to the National Iraqi News Agency ( NINA ) that "the increase of the central bank's share of the licensed banks and offices from the cash sale of dollars is an increase in the profits of these banks and companies, as they monopolize the dollar and cause a crisis in prices."
He added: "The central bank, instead of opening windows for direct selling without intermediaries for the dollar, increases the shares of those involved in corruption to make more illegal profits from selling more dollars on the black market, taking advantage of the exchange rate difference," stressing:
The economic specialist wondered about the goal of establishing more than 75 private banks, without any credit contribution in any development field, criticizing “the complicity of the executive authority with cash to plunge the country into economic problems that are difficult to solve.” / End 8
https://ninanews.com/Website/News/Details?Key=909485
Adviser To The Prime Minister Reveals The Details Of The First Economic Reform Program In Iraq And Its Launch Date
Political 05:37 - 12/06/2021 Baghdad - Mawazine News, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, revealed today, Saturday, the details of the first economic reform program in Iraq and the date of its launch, while indicating that there is an opportunity to make Iraq independent of oil dependency.
Saleh said, "Iraq has an opportunity that extends for ten years before entering the world and penetrating the roots of the Fourth Industrial Revolution and the start of various renewable energy alternatives, so that its production costs become less than the cost of producing crude oil (the depleted wealth whose use was associated with the second industrial revolution during the Victorian era until now)" .
He added that "improving oil prices in the foreseeable future, and achieving good incomes for the country, could reduce severe shortages and revive some aspects of the economy, but Iraq is bound by a ten-year development plan that establishes the employment of oil revenues in investments that absorb a growing manpower without losing job opportunities." In the future, taking into account the violent impact that may result from the goal set to reach zero emissions by the year 2050, according to the sources of the International Energy Organization.
He explained that "this is a call for a new economic development contract during which the economy gradually separates from the dominance of oil to achieve independence from dangerous rentier fluctuations, and establishes a real diversification of the national economy. A foundational foundation for laying the foundations for a renewed economic development for Iraq.
And Saleh indicated that "OPEC's share of oil production will rise to more than half of the total global production, as oil and gas supplies will be limited to small, fewer countries, and that the annual per capita income from oil sales may fall by about 75% during the next two decades," stressing that That "every rentier dollar that exceeds the urgent social and human needs must go to productive and income-generating employment."
He stressed that "Iraq has a decade-long opportunity, starting from now until the beginning of the current thirties of the twenty-first century, in the transition towards productive investment in three advanced areas, the first of which is extensive agriculture with high cash returns with the development of infrastructure projects related to water regulation, irrigation and agricultural industry, that is, industrialization.
The inputs of agriculture and its products on a large scale, and the second is mineral and geological investment to provide an additional financing lever and support for oil, especially in phosphates, silicon, sulfur, etc., and the third is to work to radically change the digital infrastructure for all aspects of life without losing the country’s backbone, which is electricity and strategic transport.
Saleh noted "the necessity of structuring the national market and reorganizing its institutions, that is, creating (the organized market) to play the role of partnership with its financial, technical and leadership surpluses in drawing and implementing Iraq's economic image independent of oil dependence, especially in the main real sectors and tourism."
He called for "the years 2022-2032 to be the first development decade for Iraq after four decades of nothing in a young nation, half of its population is between the age of 19 years downwards, which complicates the problems of work and maintenance at the same time, which is the bottleneck that should be exited from." finished 29/h https://www.mawazin.net/Details.aspx?jimare=156710
Al-Baldawi Is Likely To Resume Parliament Sessions Next Tuesday
Author: AhadNA4 On 6/12/2021 - 4:47 PM 72 On Saturday, the representative of the Al-Sadiquon parliamentary bloc, Muhammad Al-Baldawi, suggested that the regular sessions of the House of Representatives will resume next Tuesday to discuss and vote on important laws.
Al-Baldawi said in a press statement, which was followed by “Al-Ahd News”, that “the Presidency of the House of Representatives has not yet set any official date for the resumption of regular sessions,” noting that “next Tuesday is the likely date for the resumption of sessions.”
He added that "there are many laws that will be put up for discussion and the first and second reading on the agenda, in addition to including some important laws for voting and not being transferred to the next parliamentary session."
https://alahadnews.net/205423/%d8%a7%d9%84%d8%b9%d8%b1%d8%a7%d9%82/%d8%a7%d9%84%d8%b3%d9%8a%d8%a7%d8%b3%d9%8a%d8%a9/
Rationale.. In Cash
Saturday 12 June 2021 124 Thamer Al-Haims
It is not fair to attribute the ration card headache to the Ministry of Commerce, as it is not a decision-maker with regard to financial specializations. Therefore, the measures that will be implemented starting this month come with withholding the ration for not a few segments in the context of the work of commerce as an executive ministry.
This does not mean exempting the Ministry of Commerce, which bears the burden of eighteen years, fluctuating or even regressing, to limit it to four paragraphs, which are inaccurate distribution as to timing or quality. Therefore, the new measures come in a similar performance from the Ministry's logistics, which is fraught with some risks.
It is hoped that in these procedures, the card based on unfair equality between those below the poverty line and those whose incomes do not constitute one in a million four paragraphs, as the ration card should now be an effective tool in spreading justice to contribute to bridging the expanding class gap in light of the new Neo-liberalism, in the event that its components are completed as previously mentioned, is a basic means for unemployment compensation to confront absolute and absolute poverty, and it contains a social welfare program that covers their basic needs, and covers the needs of needy families, and the other on the waiting lists in the Ministry of Labor and Social Affairs.
Perhaps one of the requirements of justice is to take into account the poverty rates among the governorates, which vary in rates of unemployment and poverty at rates ranging between 15 and 50 percent, and now we wonder whether the Department of Ration Card Affairs, with its financial allocations, causes the Ministry of Commerce to perform what other ministries have?
Therefore, the compensatory cash payment to the families comes after adding the operational costs to the cost of the four or three paragraphs, where the flour often goes to the bakeries, so its compensation in cash will not have a major impact on monetary inflation, especially since the remaining three are mostly a national product, and do not pass through the dollar channel,
when the compensation is doubled for each Families in this case, it covers the entitlements of poor families, at least the birth wage or the improvement of the necessary standard of food.
The pretext of inflation does not become of any value in front of this achievement, and the Ministry of Commerce is more aware of this than us, as is the Ministry of Finance, as the money will flow to the target group directly from the banks by means of a card like any entitlement to the poor, who are increasing daily under these circumstances.
Here comes the role of the agent in updating and following-up information on deaths and births, to become the mayor of his region, having lived with them for a third of a century, and is in constant contact with them.
Present.
We hope that the ration card will be a real tool to reduce poverty, to get out of the cycle of promises and auctions, and to become the cornerstone for raising the level of the segments that fall within the absolute and extreme poverty as a national goal, which cannot be neutralized or frozen.
https://alsabaah.iq/48285/%D8%A7%D9%84%D8%AA%D9%85%D9%88%D9%8A%D9%86%D9%8A%D8%A9-%D9%86%D9%82%D8%AF%D8%A7
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