"Tidbits From TNT" Monday Morning 6-28-2021

Jun 28

TNT:

Tishwash: The success of the digital economy depends on strengthening its infrastructure

The great development in the information revolution, especially in its conceptual and material aspect, led to a rapid development in the economies of countries today. The information revolution and modern communications led to a wide change in knowledge management and the modern economy, as some countries relied on digital applications or programs to develop their administrative infrastructure. And economically, while Iraq started this aspect late due to the circumstances it went through.

On the developments in the modern economy in the country, the expert at the Center for Arab and International Studies, Dr. Ahmed Al-Rawi, stated that “the modern economy depends mainly on information, digital and software, which prompted economists to call this type of economy the digital economy or the information, data and knowledge economy.”

In an interview with Al-Sabah, the narrator stated that the “digital economy indicates that the creation of wealth has moved from materials, buildings and machines, to knowledge and software information.”

He continued, "The use of the digital economy has outweighed the nomenclature, as the principles of this type of modern (digital) economy have taken root with the progress made in knowledge levels, to confront the traditional economy, and lead to the modification of the international economic system."

And he indicated that {this will lead to the establishment of a new international economic system that may not be achieved at the speed in which the knowledge economy has developed, because of the type of environment suitable for the spread of this economy there, and it is not available in developing countries, including Iraq, due to the circumstances that it went through in the three decades.

telecom sector

Member of the Iraqi Economists Association, Dr. Ikram Abdel Aziz, indicated that {the knowledge economy includes the communications and information technology sector, as well as digital activities in the sectors of commodity and service production, especially finance and business, as well as tourism and insurance.

and transportation}.

Abdel Aziz added to Al-Sabah that this is considered a knowledge economy when the number of workers in knowledge sectors exceeds employment in other economic sectors, as is the case in the states.

She stressed: {The size of the knowledge sector has witnessed a clear growth recently in Iraq, despite the presence of some difficulties in the process of estimating the size of those sectors}.

Information Technology

Dean of the College of Business Economics, Dr. Nagham Hussein, explained that “acquiring knowledge in all fields in general, and in the field of information and communication technology in particular, plays a prominent role in improving the human development process, and in building a knowledge society from which a knowledge economy emerges with encouraging economic growth rates.”

Hussain said, "Acquiring knowledge is not limited to building a national knowledge base to generate new knowledge through research and development, but it also requires reaping and adapting existing knowledge in other places through wide openness to the developed world, encouraging the free flow of knowledge, establishing links with global markets, and attracting investment. link

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Tishwash: An economist to NINA: The tripartite summit will achieve great success by opening new horizons towards joint tripartite cooperation

The economic expert, Raad Twij, suggested that the tripartite Arab summit in Baghdad would record great success by opening new horizons towards joint tripartite cooperation.

Twig said in a statement to the National Iraqi News Agency ( NINA ) that "the motives of the tripartite summit (Egypt, Iraq, Jordan) are more economic than political, and confirm the opening of new horizons in river and land economic cooperation, calling for investing them seriously and implementing its provisions in the near time to put its fruits sooner for the Iraqi people."

He continued: "The importance of convening the summit in its third part in Baghdad, will also have a clear impact in cooling the region's conflicts and pushing towards calm and the formation of Arab unity."

Yesterday, Sunday, a tripartite summit was held in the capital, Baghdad, between Egyptian President Abdel Fattah Al-Sisi, Prime Minister Mustafa Al-Kazemi, and the King of the Hashemite Kingdom of Jordan, King Abdullah II, to discuss the political and economic conditions of these countries. link

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Tishwash: Between the government and the Central Bank.. Members of the Finance Committee reveal the secrets of the rise in the price of the dollar

A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed that there are many reasons that prevent the Central Bank from returning to the old dollar price at this stage, while indicating the possibility of achieving this and creating new job opportunities in the event of a new government coming for a period of four years.

Cougar said in an interview with Alsumaria News, "There are many reasons that prevent the Central Bank from returning to the old dollar price at this stage," noting that "among the reasons is the bank's need to have a stable policy, given that the price hike was before Four months, and there may not be another change in a short period that does not exceed five months, given that the occurrence of this matter will confuse the market and worry investors, traders and foreign currency dealers as a result of weak confidence that a new change will not occur again from the Central Bank in the future.

Cougar added, "The other matter is related to the federal budget voted by Parliament, in which all its schedules, accounts and contracts are based on the new exchange rate. Therefore, the contracts that will be awarded from the government will be in dinars, but at the same time, we are not a producing country, but rather an importer and consumer, which means that the effect It will be worrying for the parties that deal with the government in importing and contracting, because they do not have a true picture of the mechanism of dealing according to what price will be for the profit and loss account.”

He pointed out, "This is an adventure, and we do not believe that the government will be forced to do so because of the confusion it causes at this time, especially since it is an interim government and has a primary duty to prepare for early elections. As for the coming of a new government for four years, then it is possible to develop an integrated study to achieve many measures." Including changing the exchange rate and creating new job opportunities.

Member of the Parliamentary Finance Committee, Abdul Hadi Mohan Al-Saadawi, indicated that the government and the Central Bank have no vision in dealing with economic inflation, while noting that there is a will and majority within the House of Representatives, which does not want to return the exchange rate of the dollar against the dinar to what it was.

Al-Saadawi said in an interview with Alsumaria News, “There is a will and a majority within the House of Representatives, which does not want to return the exchange rate to what it was, and strives to maintain what has been approved by the Central Bank and the Ministry of Finance, because of the benefits of those controlling the government and the bank.” Iraqi Central.

Al-Saadawi added, “There is no vision among many political blocs or parties that benefit from changing the exchange rate, and they are continuing to raise the exchange rate and are also continuing to not automate outlets, customs and fees,” stressing that “the vision is absent from the government and the Central Bank to address the economic inflation that is taking place. in the Iraqi economy and market.

He pointed out that "the program and the paper prepared by the government, which was called the white paper, did not go beyond being ink on paper. The government or the central bank did not follow through with any promises they made for financial and economic reform, and what was applied are formal measures far from the essence of the solution to economic problems." He pointed out that “the government did not release the amount of three trillion dinars allocated to address poverty in Iraq, and social welfare benefits were not passed by Parliament, so the vision is absent and reform does not exist.” link

Mot: ~~~ Soooo True!!! ---- Soooo True!! ~~~