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Iraqi News Sunday AM 10-18-20

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The White Paper … Radical Reforms To A Rentier Economy

Sunday 18 October 2020  56

Baghdad: Hussein Faleh  Economists believe that the white paper presented by the government includes radical reforms to the rentier economy, noting that it has defined a clear economic vision for the government to move towards activating the productive sectors, diversifying the country’s non-oil resources and achieving sustainable development, while they called for adding some proposals that would maximize the state’s financial resources.

Economist Safwan Qusay said in a statement to “Al-Sabah”: “The process of having a white paper that can be discussed by various parties at the academic level and political parties opens the way for putting touches on this paper.”

Adopting a new financing approach

He added that “the paper is based on the transfer of the Iraqi economy from government funding to thinking of financing through banks and money markets in the sense of adopting economic development on a new approach to financing, which is moving savings towards Iraqi banks.” And then he continued: “And then refinancing the private sector in order to be the leader.”

As well as liberating part of the idle capital at the level of federal ministries, “noting that” some ministries have losing companies. These companies can be sold through the capital markets and move part of the government capital, and thus there will be new revenues for the Ministry of Finance. ”

“The long view of this paper is that it tries to reduce government spending or support towards the Ministry of Industry or the Ministry of Agriculture, as there are salaries in some of the departments of these ministries paid by the Ministry of Finance while these ministries are supposed to be financially independent,” indicating that “In practice, there is a gradual reduction of funding at the level of 30 percent annually until these ministries are financially independent. ”

Smart exchange rate setting

Qusay stressed that “the paper needs to be a tool to move the Iraqi economy, in addition to the outlets for selling the currency. It is possible to review the exchange rate,” calling for adding some proposals on the paper to mature it, such as determining an intelligent exchange rate that distinguishes between the type of imported goods.

He added that “there are consumer goods that are supposed to not sell the dollar at the official price, that is, at the level of 1182, for investment activity or the purchase of goods that could create job opportunities inside Iraq, but without that it is more than an exchange rate depending on the type of imported goods.”

He pointed out that “the process of raising the exchange rate will make there are quick revenues that will flow to the central bank and through which the deficit can be reduced, in addition to the issue of the upper limit of salaries at the level of all groups, in addition to what is included in the issue of salary scale justice and this needs legislation.”

“The paper is called the white paper. If the Iraqi parliament has a change in its course in another direction, there is nothing wrong with that, but in practice, the partnership between the government and parliament in changing the course of public spending and searching for new resources is the inevitable approach, because Iraq now has no choice not to pass this paper.”

He went on to say that “the maturity of the paper is fine, but disabling it means that Iraq will continue to be deficient in financing salaries and social welfare items, because otherwise we will resort to monetary reserves and the economic disasters resulting from this issue.”   LINK

Parliamentary Finance: The Borrowing Law Will Secure Employee Salaries For The Remainder Of The Current Year

Pratha News Agency70 2020-10-18   The Parliamentary Finance Committee, Al Akhd, confirmed that the borrowing law will secure the salaries of employees for the remainder of the current year.

The Iraqi News Agency quoted the committee as saying that “the borrowing law secures salaries for the remaining months of the current year.”

Parliamentary Investment Reveals Political Parties That Control The Border Crossings

Pratha News Agency77 2020-10-18  The Parliamentary Economic and Investment Committee revealed, on Saturday, the presence of political parties controlling the country’s border crossings.

Committee member Riyad Al-Tamimi said in a press statement, that “political parties control the border crossings in most of the country’s governorates,” noting that “the only solution to control the border crossings and subject them to state authority is to connect them electronically.”

He added that “the government has the responsibility to form a committee to monitor merchants and control the currency auction,” indicating that “a number of merchants bring forged invoices to evade tax and customs.”

Today, Saturday, the Parliamentary Economic and Investment Committee warned that the country would go to the unknown due to the external debts accumulated on the Iraqi government due to mismanagement.

Parliamentary Committee: Integrity Has Completed 30% Of The Most Important And Most Dangerous Corruption Files

Pratha News Agency82 2020-10-18   On Sunday, a member of the Parliamentary Integrity Committee, Jawad Hamdan Al-Saadi, revealed that about 30% of the most important and most dangerous corruption files have been completed by the Integrity Commission.

Al-Saadi said in a press statement that “the Integrity Commission has completed about 30% of the total corruption files that have been referred to the Commission, the Public Prosecution, the Integrity Investigation Judge, as well as the Office of Financial Supervision.”

He added that “the Integrity Committee is now taking confident steps towards collecting files and referring them to the competent authorities,” noting that “there are serious files in the investigation phase and information gathering will be disclosed at a later time.”

Al-Saadi pointed out that “the coming days will issue arrest warrants against a number of personalities involved in corruption and waste of public money.”

The Ministerial Council For National Security Opens An Investigation Into The Incident {Kurdistan Headquarters}

Sunday 18 October 2020   97  Baghdad: Morning  Yesterday, Saturday, the Ministerial Council for National Security discussed in an emergency session chaired by the Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi, the attack on the headquarters of the Kurdistan Democratic Party in Baghdad by a group of demonstrators, who violated the peaceful demonstrations, and resorted to violence by setting fire to the building.

The Council condemned this act and decided to open an investigation into the incident headed by the National Security Adviser, which includes examining the circumstances that accompanied the attack and evaluating the role of the security forces responsible for protecting the building and its surroundings, in addition to prosecuting those involved after 15 people who violated the law were arrested.

The Council affirmed its condemnation of this attack and its refusal to infringe on the prestige of the state, and affirmed that the government will take firm measures against those who try to break the prestige of the state and the authority of law. The Council called on the various political forces to exercise caution in making statements that may destabilize social peace, and to address crises through dialogue and through political channels. .

On the other hand, the Council condemned the terrorist attack in Balad District in Salah al-Din Governorate, and the Commander-in-Chief of the Armed Forces decided to refer officials from the forces holding the land to investigation, due to the failure in their security duties, and issued directives to send a high-level security delegation to the judiciary to reassess the area’s security and forces The land holder, and the work to pursue criminals, and submit a report on all events to the Office of the Commander in Chief of the Armed Forces urgently.

The council affirmed that what happened in terms of security breaches will not be tolerated, and urgent measures will be taken in this regard.

In the context, Parliament Speaker Muhammad al-Halbousi, on Saturday, contacted the Prime Minister and Commander-in-Chief of the Armed Forces, Mustafa al-Kazemi, regarding the Balad District case. And Al-Halbousi said, according to a statement from his media office: “What happened in Al-Farhatiya is a bad omen and an attempt to destabilize security, and insecurity. It is clear that a number of innocent civilians were killed, “adding that” we used to think these scenes are over with the years of black terror. ”

The Speaker of Parliament indicated that “the relevant security authorities bear full responsibility for the lives of Iraqis, protect civil peace, and prevent the security contract in the country from breaking apart and going into the unknown.” The two sides affirmed, during the call, “immediate action and the opening of an investigation into the circumstances of the crime with the holding force. For the region, the prosecution of the perpetrators, the disclosure of the results of the investigation, and punishment for those who tamper with the security of the country and the lives of citizens and those who seek chaos. LINK

Najjar: Our Experience And Our Relationships Are In The Service Of Vital Projects

Sunday 18 October 2020  21  Baghdad: Morning  The head of the National Investment Commission, Suha Dawoud Najjar, confirmed that “the full potential of the commission is from international economic relations and consulting experience in the technical, financial and administrative fields in the service of vital projects in Iraq wherever they are found.”

Economic returns

During her meeting with the Minister of Transport, Captain Nasser Hussein Al-Shibli, Najjar discussed the most prominent of these projects in the ministry represented by the large Fao project and the major financial and economic returns it carries for Iraq represented by transporting and delivering goods and oil faster than ever before, and also gives the opportunity to diversify import and export routes while revitalizing the transport sector .

Investment aspects

She emphasized “the authority’s ability to manage the investment aspects of the project by creating opportunities for competition in a wider manner and investing in the relationships and high capabilities that the World Bank possesses to support this project, which would provide moral support to the Iraqi citizen and settle the broad debate that was raised recently about it in addition to the economic feasibility of the project.”

The suspended train

For his part, the Minister of Transport presented his vision of possible forms of cooperation with the National Investment Commission for other important projects in the ministry, including the suspended train project and what it could provide in terms of job opportunities of up to 10 thousand job opportunities for the people of Baghdad, revealing the possibility of achieving it by the French company Anstel in cooperation with the company Korean Hyundai, in addition to other projects, the ministry is studying opportunities for implementation  LINK

Al-Kazemi Begins His European Tour And Heads To Paris

Time: 10/18/2020 16:23:38 Read: 195 times  {Baghdad: Al Furat News} The Prime Minister, Mustafa Al-Kazemi, left the capital, Baghdad, heading to the French capital, Paris.

A statement of his books, of which the Euphrates News Agency received a copy, stated that Al-Kazemi’s visit came “at the beginning of his European tour, which also includes Britain and Germany.”

The statement indicated that the prime minister “will hold several meetings with senior officials in these three countries, and discuss with them on developing bilateral relations.”   LINK

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