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Iraqi News Tuesday AM 9-29-20

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Extending The Work Of The UNDP Mission To 2023

Tuesday 29 September 2020  109  Baghdad: Morning   The government agreed to extend the work of the United Nations Development Program (UNDP) mission in Iraq until 2023, due to the encouraging results it provided in support of stabilization efforts and the establishment of many support projects in a number of regions of the country in various fields.

A statement by the Cabinet Secretariat said, “During his meeting with the German ambassador in Baghdad, the Secretary-General of the Council, Hamid Naim Al-Ghazi, praised the efforts of the German government and people in their programs operating in Iraq regarding support for stability in the liberated areas and their standing side by side with the government and people of Iraq. In many projects and programs it supervises.

He added that “the government, under the direct supervision of the Prime Minister, is showing wide interest in ending the file of the displaced and closing the camps in Iraq in general,” stressing that “the return of more than (58) thousand families to their liberated areas and the closure of (35) camps in the governorates of Baghdad, Anbar, Kirkuk and the Kurdistan region. She continues to permanently finish this file, which is one of her most important obligations before the House of Representatives. ”

For his part, the German ambassador in Baghdad stated, “The German government’s determination to continue and intensify efforts and work in the Stability Support Program, work together with the United Nations Development Program in Iraq and establish many projects in the liberated areas,” expressing the German side’s readiness to finance the Stability Support Fund. He also indicated that the German side, according to the statement, ”   LINK

Activating the Baghdad-Mosul-Istanbul railway line

Tuesday 29 September 2020  112  Baghdad: Morning   Yesterday, Monday, Minister of Transport, Nasser Al-Shibli, directed the activation of the Baghdad-Mosul-Istanbul railway line. In a statement, Al-Shibli said, “A committee has been formed to study the Fish Khabur railway.” He pointed out that the ministry intends to buy two ships and 100 trucks to develop the transportation field, stressing that it will follow closely to lift the air embargo on Iraqi Airways. LINK

Finance Promises To Provide Salaries For Employees And Retirees

Tuesday 29 September 2020  194  Baghdad: Hoda Al-Azzawi and Shaima Rasheed  Yesterday, Monday, the Ministry of Finance sent a draft domestic borrowing law to finance the fiscal deficit for the year 2020 to the Council of Ministers for approval in light of the economic crisis and delayed payment of salaries.

There were conflicting statements by the Finance Committee in the House of Representatives regarding the “approval” or “rejection” of new borrowing by Parliament after voting on it in the Council of Ministers.

The Ministry of Finance said in a statement: It “would like to assure citizens to work diligently to ensure that all government obligations are fulfilled and on time, and on top of those obligations are the salaries of state employees, retirees and social welfare.”

The ministry explained, “It is currently preparing a detailed road map to finance basic expenditures for the remaining three months of the current year, and we will present it soon to the House of Representatives. This plan will include increasing the ministry’s ability to borrow internally, and once approved, it will enable us to start securing government salaries in full.” “.

The finance statement met with mixed reactions from the competent legislative authorities, as the reporter of the Finance Committee, Ahmed Al-Saffar, confirmed to Al-Sabah, that “in the event that the borrowing paper is submitted, it will not be approved by the committee, especially since we are on the compulsory holiday for the fortieth visit, and will not meet Parliament before next October 10, “and indicated that” among the conditions for approving the first borrowing law was that there be no other borrowing.

Al-Saffar said: “The oil revenues are more than 4 trillion dinars, and the loan taken is 15 trillion dinars, which must pay the salaries of employees until the tenth month,” noting that “there is a financial gap of two trillion dinars per month – meaning that the finance spent 9 trillion in three months.” And there are 6 trillion dinars missing from the internal borrowing funds, “and he asks,” Where did that amount go ?! ”

On the other hand, Jamal Cougar, a member of the Finance Committee, told Al-Sabah: “The state’s resources are less than its needs, and therefore the government has no other solution but to borrow or face the street, so the government will resort to borrowing from the central bank and internal banks to fill the deficit.”  LINK

3 Stages Of Resuscitation (Made In Iraq)

Tuesday 29 September 2020 84  Baghdad: Rola is confident  The Ministry of Industry has prepared a plan for the advancement of local industries in the country. The Undersecretary for Planning, Yusef Muhammad Al-Janabi, told Al-Sabah: The plan aimed at gaining consumer confidence has been identified in three stages for the advancement of the sector, which are: short in duration of three years, medium in duration of five years, and distant The term is ten years and more.

He indicated that the local industry, after it was distinguished by its discretion, fulfillment of the conditions and its durability, became reluctance to misuse it in the best way, indicating that all these reasons turned the country’s factories into trade, and thus lost its privacy, which prompted the ministry to take a decision to revive the industry and reconsider all measures And start adopting the standard specifications for quality control to return to what it was in the past, especially those industries that have direct contact with the citizen. LINK

Promote The Industrial And Agricultural Sector And Involve The Iraqi Investor

Tuesday 29 September 2020  46   Baghdad: Morning  The head of the National Investment Commission, Suha Dawoud Najjar, confirmed that “activating the industrial and agricultural sectors in all governorates of Iraq and not relying entirely on the oil sector while supporting the Iraqi investor and involving him strongly in the investment process is one of the features of our close investment policy.”

She added during her attendance at the expanded workshop in Wasit Governorate, which was held under the slogan (Investment Reconstruction Gate) that “the Iraqi investor does not lack the material, moral and professional capacity to advance the Iraqi economy, especially if the government is a partner and supporter for him to formulate major national projects that meet the requirements and needs of the local economy and not according to a need.” Investor. ”

Attracting investments

She explained that “the task of the investment authorities in Baghdad and the governorates is not limited to granting investment licenses, but rather to be a legitimate gateway to attract and attract successful investments, wherever they are after providing lost items and finding the best way to benefit from the available liquidity and capabilities.”

Daoud indicated, “We are today in the National Investment Commission, armed with a specialized and capable team capable of reformulating and drawing the priorities of the new Iraqi economy, and this is what you will touch in the weeks.” Coming. ”

Obstacles and problems

For his part, the Governor of Wasit, Dr. Muhammad Jamil Al-Mayahi, said, “We hope that this meeting will be a real opportunity to develop visions and effective treatments for a number of obstacles and problems facing the investment process not only in Wasit, but also at the level of all Iraqi governorates, as it represents a clear message to all capital owners Investors should direct their proposals and the problems they face to the sponsor and protector of the investment. ”

The workshop included a closed meeting of the President of the National Investment Commission with the Governor of Wasit Ali Turki Al-Shammari, Chairman of the Governorate Investment Authority, and a number of members of the Commission and representatives of the legal and administrative side in the governorate, and listened to a number of problems facing them in order to study them and take the necessary measures regarding them. LINK

An Agreement To Transfer One Trillion And 100 Billion Dinars To Finance The Salaries Of Retirees

Time: 09/29/2020 13:30:00 Read: 5,369 times   {Baghdad: Al Furat News} The Parliamentary Finance Committee announced an agreement to finance the salaries of retirees in the country.

The committee said, “It has been agreed to transfer one trillion and 100 billion dinars to finance the salaries of retirees and distribute them on time.”  LINK

The Iraqi Financial Market Closed 0.55% Higher Than The Previous Session

Time: 09/29/2020 13:42:56 Read: 1,326 times  {Baghdad: Al Furat News} The Iraqi financial market closed today, Tuesday, up 0.55% from the previous session.

The indicators for trading in the Iraq Stock Exchange for today came as follows:

Listed companies: – 105

traded companies: – 30-

The number of traded shares reached (11,312,820,765) shares.

2- The value of shares reached (4,734,125,808) dinars.

3- The ISX 60 price index closed in today’s session at (482.66) points, up by (0.55%) than its previous session’s close of (480.00) points.

تداول- Trading in shares of () a company out of (105) companies listed on the market.

7- The number of companies suspended by a decision of the Securities Commission for non-compliance with the instructions for financial disclosure is (23) companies.

6- The number of shares purchased from non-Iraqi investors in the regular market reached (161) million shares, at a value of (140) million dinars, through the implementation of (32) deals on shares of (5) companies.

7- The number of shares sold by non-Iraqi investors in the market reached (10) billion shares, at a value of (4) billion dinars, through the implementation of (81) deals on shares of (5) companies.

8- Executing a special order on the shares of Zain Iraq Islamic Bank, with 10 billion shares and 3,800 billion dinars. LINK

Dollar Prices Jump In Iraq

Time: 09/29/2020 11:41:27 Read: 38,909 times  {Baghdad: Al Furat News} Today, Tuesday, the currency markets in Iraq recorded a rise in the exchange rate of the dollar against the dinar.

The price of the US currency on the Kifah Stock Exchange in Baghdad was 123 thousand and 200 dinars for one hundred dollars, and yesterday’s price was 122 thousand and 800 dinars.

In Al-Harithiya Stock Exchange, 123 thousand and 250 dinars are for one hundred dollars.

In Basra Governorate, the dollar reached 123,300 dinars for one hundred dollars.

As for Erbil, it amounted to 123,350 dinars.

The exchange rate of the dollar in exchange offices is at a difference of 500 dinars for buying and selling in local exchanges.   LINK

He Called For Intensifying Efforts … The Central Bank Participates In Two Arab Meetings

The Central Bank of Iraq participated separately in the meetings of the Board of Directors of the Arab Monetary Fund and the Board of Directors of the Arab Trade Financing Program.

Where the bank discussed with members of the Fund Board states of the Arab Monetary topics to support the joint Arab action , most notably the ” payments system of the Arab and clearing ” structures “and its importance in facilitating payments and financial transfers of inter – Arab.”

While the meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program, in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.

The Central Bank of Iraq   information Office   2020/9/29   https://cbi.iq/news/view/1566

The Central Bank Of Iraq Participates In Two Arab Meetings … And This Is What Called For It

Time: 09/29/2020 12:09:18 Read: 2,262 times  {Baghdad: Al Furat News} The Central Bank of Iraq participated in the meetings of the Board of Directors of the Arab Monetary Fund, and the Board of Directors of the Arab Trade Finance Program, each separately.

According to a statement to inform the Bank received the agency {Euphrates News} a copy of the “Bank of the Central with the Member States of the Fund Board of the Arab Monetary topics to support the joint Arab action , most notably the ” system of payments and clearing the Arab {built} and its importance in facilitating payments and financial transfers of inter – Arab. ”

He added “The meetings of the Board of Directors of the Arab Trade Financing Program included discussions on mechanisms for re-arranging funding priorities for the national agencies organizing the program in a manner that helps mitigate the effects of the Corona pandemic on Arab trade.”   LINK

Planning Acknowledges The “Failure” Of Its Strategy To Support The Private Sector

Spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi «Economy News»

Money  and business  Economy News – Baghdad

The Ministry of Planning acknowledged the failure of its strategy aimed at developing the Iraqi private sector and its participation in the processes of economic development, noting that the poor political, security and economic conditions caused the failure of the strategy.

The ministry’s spokesman, Abdul Zahra Al-Hindawi, said in televised statements that were followed by Al-Iqtisad News, that the Ministry of Planning had launched a strategy for developing the private sector between 2017 and 2030, but it did not succeed due to the general conditions surrounding the country.

He added: The first real support step for the private sector began in the year 2019 after the formation of a council to develop the Iraqi private sector, which was formed from the private sector itself.

Al-Hindawi pointed out that the unemployment rate in Iraq reached 15% in the year 2020 as a result of the spread of the Corona epidemic and the financial and economic crisis, indicating that “the highest unemployment rate was in Anbar Governorate, at 32%.”

He confirmed that there are about 4.5 million unemployed people in Iraq. This is matched by job slack in the government sector, as approximately 200,000 students graduate annually amid a government deficit by providing them with job opportunities and salaries.

The spokesman for the Ministry of Planning pointed to the completion of the best program for the advancement of the private sector, as he put it, which is the “National Project for Youth Employment”, which was transferred to the Ministry of Labor for implementation, which provides 100 thousand job opportunities for youth.

Number of observations 109 Date added 09/29/2020   https://economy-news.net/content.php?id=22035

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