"Tidbits From TNT" Friday Morning 2-12-2021

Feb 12

TNT:

Tishwash: The Digital Media Center calls for universalizing the online payment experience

The Digital Media Center (DMC) stressed the need to circulate the electronic payment experience in Iraq to allow citizens to make purchases safely and quickly, as well as limit the transmission of the Corona virus via paper currencies, as well as the benefits achieved to Iraqi banks.

The center praised the presence of many points of sale in the malls that supported the electronic payment feature via electronic payment cards, calling for support for more payment applications such as Apple Pay and the electronic payment services provided by telecommunications companies operating in Iraq.

The Center noted that the generalization of the electronic payment experience will encourage citizens to settle their salaries in banks and spend what they need only through the electronic payment mechanism, thus providing financial liquidity to banks that support electronic payment systems.

The center notes the importance of activating electronic payment systems in reducing corruption and eliminating informal economic activities, and thus the entry of individuals within the licensed systems operating in the country, as well as its importance in raising the rates of investment in the country, increasing production and providing more job opportunities.

The Center also confirms that electronic payment systems in Iraq still need more support and legalization and reduce the chaos of benefits imposed on individuals, which may reach many times what is imposed in neighboring countries, and banks should be obligated to increase the number of ATMs and payment devices in proportion to the population density. link

Tishwash: An economist: The formation of a committee for economic reform is a good and unprecedented step to implement the provisions of the White Paper

Economic expert, Raad Twaij, confirmed that the formation of a committee for economic reform is a good and unprecedented step to implement the provisions of the White Paper.

Twig said in a statement to the Iraqi National Agency for Sons / NINA /: "The formation of a reform committee by the prime minister is an unprecedented step and an applied aspect of the white paper, and thus the beginning of the restructuring of the Iraqi economy and the analysis of the defects that are centered in the rentier economy and trying to rid the Iraqi economy of gaps and vibrations, especially The recent financial crisis and the World Bank’s expectations for a 12% contraction this year,

noting that "the rise in oil prices above $ 60 a barrel is considered a major contributing factor to support the reform wave and to complete the reform process."

Twig called for the Iraqi economy to be divided into two halves, the first part related to the losing sectors, how to reform it, the winning part, how to deepen it, and the need to rely on human development, which will contribute to expediting the reform process and building new capabilities and structures for the Iraqi economy. link

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Tishwash: The Foreign Minister and his Greek counterpart discuss the activation of economic and investment exchange

Foreign Minister Fouad Hussein discussed with his Greek counterpart Nikos Dendias, on the sidelines of the ministerial meeting of the countries of the Middle East and the Eastern Mediterranean, held in the capital, Athens, ways to activate joint economic and investment exchange. link

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Tishwash: Representative Economy: The vote on the budget law in the middle of next week

The Parliamentary Economy and Investment Committee confirmed, on Friday, that the vote on the budget law is in the middle of next week.

Committee member Mayada al-Najjar said in an interview with the Iraqi News Agency and followed by "Al-Eqtisad News", that "the atmosphere so far is positive for voting on the draft general budget law," noting that "after the meetings that lasted for more than a month on the draft budget law, the content was agreed upon and not Remaining other than the share of the Kurdistan region and some tables. "
He pointed to "the possibility of presenting the law for a vote and passing it next week, on Monday or Tuesday."

The Parliamentary Finance Committee had announced earlier, the most prominent aspects of its meeting with Prime Minister Mustafa Al-Kazemi and the ministers.

In a statement received by Al-Eqtisad News, the committee stated that it “rewrote the budget strategy according to a comprehensive economic vision after what came from the government with a financial vision only, and it also handed over a copy of the budget amendments it had made to the government.”

She added that "the pressure of expenditures and the maximization of revenues were scientifically studied and came after a meeting with most of the government ministers and holding more than 302 hosting of various state institutions."

The Committee pointed out that " the meeting also included the support of the private sector and take bold steps to deal with it and support industrial and agricultural banks and real estate to achieve comprehensive development in these sectors", as well as the exchange of views between the legislative and executive out branches unified vision of what is in the public interest.

" The Committee noted during the statement That it "will directly supervise the implementation of the budget to ensure the implementation of its vision."
And she continued, "Thinking outside the fund and with technical economic dimensions to transform ministries from consumers who burden the public treasury to producers," she said. link

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