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More Iraqi News Saturday PM 10-24-20

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An Economist For / NINA /: Thinking Of Reducing The Value Of The Iraqi Dinar Is An Incorrect Step And Must Be Avoided

Saturday 24, October 2020 10:21 | Economical Views: 222  Baghdad / NINA / Economic expert Safwan Qusay warned the Central Bank against adopting the step of reducing the value of the Iraqi dinar in front of other currencies, stressing that it is an incorrect step and must be avoided.

He said in a statement to the National Iraqi News Agency / Nina / said: reliance on central bank reserves of Iraq or to reduce the exchange rate move should stay away from them completely , and the need not to think about this alternative now , because the financial and confidence in the system public in Iraqi dinars will be affected , which does not hope to happen. ”

He called Qusay The central bank should consider the direction of setting an upper limit for salaries and allowances for each job grade without harming the groups with relatively little income. ”

The economist stressed the need to activate the tax law on total income by direct deduction without delay, at least for the current stage.

And unofficial news indicated that in the coming days the Central Bank would reduce the value of the Iraqi dinar, which led to an increase in the exchange rate of the US dollar against the Iraqi dinar.

While the Central Bank of Iraq confirmed: “The statements that have spread recently regarding the reduction of the Iraqi dinar exchange rate against the dollar represent the viewpoint of those who stated them and do not represent the bank’s official position.

This was accompanied by a number of rumors released by speculators, which affected the price (temporarily) He pointed out that the exchange rate is fixed and has not changed, and that its monetary policy is clear and transparent. Its foreign currency reserves are “very good” according to all international indicators, in order to enable it to overcome the current crisis that the country is going through. /  https://ninanews.com/Website/News/Details?key=864590

Economical: The White Paper Does Not Include Clear Features Of Repair

08:43 – 10/24/2020  The information / Baghdad ..An economist, Bassem Antoine, revealed, on Saturday, that the government did not include any numbers or timetables in the reform paper, indicating that the reform paper does not include any clear features.

Antoine said in a statement to “the information” that “the economic reform paper announced by the government does not contain any reformist features as it was spread.”

He added that “the paper does not contain any figures or speculative amounts for disbursement in exchange for reform and an economic and investment investigation that raises the total Iraqi product.”

Antoine indicated that “economic reforms cannot be achieved without fighting corruption and ending its presence in the joints of the state.” End / 25 D.   https://www.almaalomah.com/2020/10/24/501412/

Barham Salih: We Will Proceed With The Recovery Of The Stolen Money Of Iraq And Are Determined To Establish A Fully Sovereign State

Follow-up Saturday, October 24, 2020 02:35 PM  The President of the Republic, Barham Salih, said that Iraq is continuing to recover the stolen money and prosecute the corrupt, and pointed out that corruption is the political economy of terrorism and violence.

In a message of congratulations to the Secretary-General of the United Nations, Antonio Guterres, on the occasion of the 75th anniversary of the founding of the organization, he affirmed, “Iraq stands today as one of the founding countries, supporting the values and principles that the United Nations holds for the sake of establishing world peace, and engaging in dialogues in order to reduce tensions, prevent conflicts, and protect rights. The human”.

Saleh added, “At the same time, we affirm the pivotal role the organization plays in uniting the interests of its member states and consolidating efforts together towards achieving common goals serving the peoples of the whole world.”

The president added, “The world today faces other challenges, on top of which is terrorism, and Iraq had a bitter experience with it, but by the concerted forces of the people and the security services of all their different formations and the support of allies and friends, they dealt a devastating blow to ISIS.”

He pointed out that “the war against terrorism still exists, and the international effort should be continued to fight it and eliminate its sources of financing, by combating corruption as the political economy of violence and terrorism, and today Iraq is moving towards fighting corruption, recovering its stolen money and pursuing the corrupt.”

And Saleh added, “We call on the United Nations and the international community to continue to support the Iraqi people in facing challenges, as we await the entitlement of elections that require ensuring their integrity and achieving the free will of citizens away from fraud and manipulation.”

The President of the Republic, Barham Salih, called on the United Nations and the international community to continue to support the Iraqi people in facing challenges, especially the upcoming elections that require ensuring their integrity and achieving the free will of the citizens away from fraud and manipulation, indicating that Iraq is determined to establish a firm and fully sovereign state.   And he indicated that Iraq is moving towards fighting corruption, recovering its stolen money, and pursuing the corrupt.   LINK

The Representative Economy Exposes New Corruption Files Related To Trade And Intends To Hold The Minister Accountable

Baghdad Post Saturday, October 24, 2020 12:00 PM  A member of the Parliamentary Economic and Investment Committee, Nawfal Al-Nashi, revealed new corruption files related to the work of the Ministry of Trade, indicating that a parliamentary question was directed to Trade Minister Alaa Al-Jubouri.

Al-Nashi said, “The Parliamentary Economic and Investment Committee has initiated the investigation of many corruption files that were found relating to the work of the Ministry of Commerce.

“The Commission intends to host the Minister of the Ministry of Advanced and staff on the background of several issues , ” noting that “there is a parliamentary question will be directed to the Minister of Commerce ensures that the reasons for the reluctance of the ministry.

Al-Nashi pointed out that “the reason for the failure to minister the ration card items as a result of the lack of financial allocations.”

Earlier, the Parliamentary Integrity Committee revealed a large corruption deal in the stores of the Ministry of Commerce Expired oils imported since 2019, estimated at more than 66 billion dinars.  LINK

At The Conclusion Of A European Tour Of A Government Delegation .. Minister Of Oil: We Have Seen The Confidence Of Major Investors In The Iraqi Energy Market

Saturday 24, October 2020 09:41 | Economical Views: 210   Baghdad / Nina / The Minister of Oil affirmed the government’s keenness to change the philosophy of the Iraqi economy and the mechanisms of managing hydrocarbon wealth for the sake of sustainable national development and its advancement, and work to change the market value of the national product, as well as accelerate the implementation of investment projects in the sectors of gas, petrochemical industries and sustainable energy, and accreditation On modern technologies, and providing advanced training opportunities for workers in the oil sector.

Oil Minister Ahsan Abdul-Jabbar Ismail said in a statement after the conclusion of the European tour of the government delegation headed by Prime Minister Mustafa Al-Kazemi, which included all of Germany, France and the United Kingdom: “The government’s reform paper requires strengthening, supporting and providing opportunities and a safe investment environment for companies. International, and working to increase the volume and prospects of cooperation with major partners in order to promote hydrocarbon industries and the optimal investment of national wealth to strengthen the national economy.

Ismail pointed out that “all these axes were discussed during the meetings that brought us together with international companies, where we saw the confidence of major investors in the Iraqi energy sector and their desire to expand, diversify and increase the horizons of cooperation, especially companies (BP), ExxonMobil, ENI, KAZProm and others, as well as holding important consultations with The French company Total on investment in gas sector projects, one of which is located to the west of Baghdad and the other in Basra, and we hope to reach an agreement soon.

The Minister of Oil stressed that “the ministry is working, within the reform paper, to build strategic relationships with sober countries and companies that possess financial capacity and modern technology that contribute to building the national industry and enhance its economic and development capabilities, and we have made progressive positive steps with European Union countries and companies and the American Chevron Company.” .

Abdul-Jabbar noted that “the ministry has signed an important contract with a Japanese company recently to construct a complex refinery, which is the first project of its kind in Iraq as it contributes to converting fuel waste into high-quality white products.

The announcement will also be made soon to announce the acceleration and reduction of gas investment plans.” The companion in the Basra Gas Company will be a milestone in this sector, adding that the coming period will witness the opening of the largest rehabilitation center in Basra Governorate to build and prepare national capabilities in the oil and energy sector.    https://ninanews.com/Website/News/Details?key=864584

Economic Specialist For / NINA /: The Revenues Of The Border Crossings Are Financial Deals For Influential Mafias

Saturday 24, October 2020 10:26 | Economical Views: 193   Baghdad / NINA / The expert in the administration of government institutions and an expert on economic affairs, Ali Al-Faraiji, confirmed that the revenues of the border crossings are financial deals for influential mafias and no more, while he indicated that the revenues stolen from the outlets are equivalent to approximately 60% of what the government intends to borrow from banks.

Al-Freiji said in a statement to the Iraqi National News Agency / NINA / that “the rates of lost outlets revenues reach at the lowest estimates more than 8 billion dollars annually, and the stolen revenues from outlets are equivalent to approximately 60% of what the government intends to borrow from banks.”

He pointed out that “the government’s intention to control these revenues faces challenges, the most important of which are: Can the government control the mafias that control border crossings? The government will need to rehabilitate the administrative system of the Border Ports Authority and reduce administrative corruption.”

He added: It is necessary to introduce a system of deduction and payment of tax fees on goods electronically, stressing that the biggest challenge is, will the parties of the authority support the government in its intention to control the lost revenues from the border crossings ?  https://ninanews.com/Website/News/Details?Key=864593

Iraq Is Holding Consultations With A French Gas Investment Company In Baghdad And Basra

Energy  Economy News _ Baghdad   On Saturday, Oil Minister Ihsan Abdul-Jabbar announced that Iraq had entered into consultations with the French “Total” company, with the aim of investing in the gas sector in the capital, Baghdad, and the southernmost province of Basra.

This came after the conclusion of the European tour of the government delegation headed by Prime Minister Mustafa Al-Kazemi, which included Federal Germany, France and the United Kingdom.

Abdul-Jabbar said in a press release reviewed by “Al-Eqtisad News”, that the government’s reform paper requires strengthening, supporting, providing opportunities and a safe investment environment for global companies, and working to increase the volume and prospects of cooperation with major partners in order to advance hydrocarbon industries and optimize the investment of national wealth to enhance the national economy.

He pointed out that all these axes were discussed during the meetings that brought us together with international companies, as we touched the confidence of major investors in the Iraqi energy sector and their desire to expand, diversify and increase the horizons of cooperation, especially companies (BP), ExxonMobil, ENI, Kazprom and others, as well as holding important consultations with Total French on investment in gas sector projects, one located to the west of Baghdad and the other in Basra, and we hope to reach an agreement soon. Number of observations 151 Date of addendum 10/24/2020    https://economy-news.net/content.php?id=22370

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