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More Iraqi News Monday AM 1-18-21

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The Parliamentary Economic And Investment Committee Discusses Its Report On The 2021 Draft Budget

01/18/2021   The Parliamentary Economy and Investment Committee, headed by Representative Ahmed Salim Al-Kinani, and the presence of its members, on Monday 01/18/2021, held a meeting in which it discussed the draft Federal Budget Law for 2021 submitted by the government to the House of Representatives.

Al-Kinani confirmed that the committee is preparing to submit its own report on the draft budget law with regard to investment projects and negative economic impacts on previously transferred projects that continue to work due to the high exchange rate of the dollar, which threatens to stop some projects and the withdrawal of some contractors from work.

The Chairman of the Economic Committee expressed his surprise at the lack of allocations from the Ministry of Industry in the 2021 budget to this extent, at a time when large funds are allocated to unnecessary spending units in light of this rise in commodity prices, which requires support for the local industry in its private or public sectors.

Al-Kinani explained that despite the difficult experience that Iraq went through during the year 2020 due to the decline in oil prices and the rentier economy of the country and its dependence on oil exports, we note that the government has re-produced the same budget that depends on the export of oil and neglected to support sectors through which the government’s non-oil imports can be increased. Such as supporting foreign investments and local industries, as well as supporting the agricultural sector to increase local production. House of Representatives  Media  Department 01/18/2021   LINK

Al-Haddad reveals his financial assets for the year 2021, and calls upon the MPs to cooperate with the Integrity Commission and present their financial receivables

01/18/2021  The Deputy Speaker of the Iraqi Council of Representatives, Dr. Bashir Khalil Al-Haddad, and in the official document of the Integrity Commission – the Prevention Department revealed his financial liability for the year 2021, and called on the MPs to cooperate with the Integrity and Accelerate Commission to submit their financial receivables before the end of January based on the Integrity Commission Law No. )

For the year 2011 and the Financial Interest Disclosure Instructions No. (2) for the year 2017, stressing at the same time the importance of this legal procedure as an important and essential step for protecting public funds and in support of efforts and endeavors to combat corruption in all its forms.  Media Office of the Deputy Speaker of the Iraqi Parliament,  Monday, January 18, 2021  LINK

Parliamentary Warning: The Failed Policies Of The Current Administration Will Lead To The Collapse Of The Economy

Pratha News Agency64 2021-01-18  A member of the Parliamentary Economic and Investment Committee, Nawfal Al-Nashi, called on Monday to dispel the concerns of foreign and Arab investors and provide a suitable environment, and while stressing the need to develop a broad plan to attract capital aimed at creating thousands of job opportunities and revitalizing the private sector, he warned of the collapse of the Iraqi economy in light of the continuing “Failed Politics.”

“We have repeatedly called for the necessity to create a safe environment for investors, which would provide job opportunities for the unemployed,” Nashi said in a press statement.

Al-Nashi stressed “the need for the government to prepare a file of the most promising investment opportunities in Iraq that includes preliminary studies in many diverse economic and investment sectors such as industry, agriculture, services, tourism and the health sector, in addition to investment opportunities in the field of oil.”

He explained that “the government did not provide a real vision in the 2021 budget regarding attracting foreign investments to the country except for seeing reliance on loans and targeting employees and retirees and taxes,” warning of “the collapse of the Iraqi economy with the continuing failed policy of the current administration.”

On the other hand, Al-Nashi said, “At a time when we value all real steps to remedy the risk of Iraqi economic collapse, we will not allow prejudice to the salaries of the vulnerable classes and disrupt the wheel of economic growth.” http://burathanews.com/arabic/news/384671

Representative Economy: A Difference In The Exchange Rate Of The Dollar Returned To The Government By 12 Trillion Dinars

Pratha News Agency101 2021-01-18  A member of the Parliamentary Economic and Investment Committee, Hamid Al-Mousawi, revealed that the difference in the exchange rate of the dollar returned to the government by 12 trillion dinars, pointing out that Parliament is determined to reduce the budget deficit and pressure unnecessary expenditures.

Al-Mousawi said in a press interview, “The Financial Management Law prevents the deficit from exceeding the 3 percent, while the deficit in the current budget has reached 44 percent, so work is being done diligently to come out with a budget that preserves employee benefits and social care and stands in front of the deductions decided by the government.” As well as pressure overhead. ”

He added that “many of the paragraphs in the budget are called black holes, where the government tried to add unnecessary expenditures, and there is serious work to prevent these expenditures and direct them towards eligible categories.”

And that “the government has achieved by raising the exchange rate of the dollar, the amount of 12 trillion dinars, and this difference will be invested to end the financing gap and the deficit in the budget.”

http://burathanews.com/arabic/economic/384640

The Kurdistan Patriotic Movement Urges The Regional Government To Deliver The Oil And Demands That Baghdad Be Discharged

Time: 01/18/2021 16:13:51 Read: 1,235 times  The Kurdistan Patriotic Movement urges the regional government to deliver the oil and demands that Baghdad be discharged

(Baghdad: Al Furat News) On Monday, the Patriotic Union of Kurdistan (PUK) urged the regional government to deliver oil and demanded Baghdad to be exempt

This came during a press conference by MP Ala Talabani, head of the Patriotic Union of Kurdistan bloc, in the presence of the bloc’s representatives.

He added, “We demand the federal government to fulfill its commitment to release the salaries of the regional employees,” noting that “this step helps to provide the appropriate ground and a compromise atmosphere to solve many problems between the two parties.”

And he continued, “All of the challenges, living conditions and Cairo’s life that your brothers, the sons of the Kurdistan Region, are going through.”   LINK

The Launch Of The “Made In Iraq” Exhibition In The Presence Of Al-Kazemi

Time: 01/18/2021 14:39:43 Read: 1,508 times  {Baghdad: Al Furat News} Today, Monday, the Ministry of Commerce announced the launch of the activities of the “Made in Iraq” exhibition on the grounds of the Baghdad International Fair under the patronage of Prime Minister Mustafa Al-Kazemi.

Trade Minister Alaa Al-Jubouri said in a statement that Al-Furat News received a copy of, that “the exhibition enjoys governmental interest and support as it is an economic demonstration and an important opportunity to reflect the volume of effort exerted by the Ministry of Industry and its continuous endeavor to develop Iraqi industry and restore confidence in national production.”

He added, “The exhibition represents an important and appropriate point for all companies of the private and mixed sector, the public sector and national industries companies within the framework of the general goal of building the new Iraq, encouraging investment and commercial activity, supporting the national economy and increasing exports.”

He pointed out that it “provides an appropriate opportunity to choose a number of national products in order to display them in international exhibitions outside the country, as well as being an agent for promoting the capabilities and products of specialized companies in various industrial sectors and an opportunity to expand the establishment of commercial relations as suitable for promotion, marketing, advertising, attracting investments and establishing partnerships with The private sector to allow these companies to offer their locally manufactured products as an alternative to imported products to cover a large part of the needs and requirements of the Iraqi market.

It is noteworthy that the qualitative “Made in Iraq” exhibition, in its fifth session, was launched with the participation of (30) companies from the Ministry of Industry and Minerals and private sector companies, which was organized by the Ministry of Industry in coordination and cooperation with the Ministry of Trade represented by the Iraqi General Company for Fairs and Commercial Services.   LINK

Al-Rafidain Raises The Interest On Savings Accounts To 5% And Fixed Deposits To 7%

Time: 01/18/2021 14:07:36 Read: 2,093 times   {Baghdad: Al Furat News} Al-Rafidain Bank announced, on Monday, to raise the interest rate for citizens’ savings accounts to 5 percent.

The bank’s media office said in a statement that Al Furat News received a copy of, that “based on the bank’s policy aimed at maximizing revenues in order to attract cash and encourage customers to save their money instead of hoarding it at home, the bank decided to increase the interest rate on savings accounts to 5 Percent after it was 4 percent

The statement added that “the bank decided to increase the interest rate on deposits for a period of six months to become 5 percent and to increase the interest rate on fixed deposits for a year to be 6 percent in addition to increasing the interest rate on deposits for a period of two years to become 7 percent.”

The statement indicated that “the bank has also decided to pay interest for fixed deposits to be granted in advance, provided that the citizen undertakes not to break it and withdraw it, otherwise the interest granted will be deducted from the principal amount of the deposit and this will be the basis for the comparison between the deposit and the savings account and the customer.” High in the coming days. ”   LINK

Today, Monday .. Larn About The Exchange Rate Of The Dollar In The Local Markets

Economie| 10:55 – 01/18/2021   Baghdad – Mawazine News  The exchange rates of the dollar on the main stock exchange and local markets recorded a new high on Monday.

The exchange rate of the dollar on the Kifah Stock Exchange was 144,950 dinars for each $ 100 bill, while the exchange rate on the Al-Harithiya Stock Exchange was 145,000 dinars for each $ 100 note.

The exchange rates rose in exchange offices and local markets in the capital, Baghdad, as well, as the sale price reached 145,500 dinars for each $ 100 bill, while the purchase price reached 144,000 thousand dinars, for each $ 100 bill.

The exchange rates of the dollar on the Al-Kifah Central Stock Exchange in the capital, Baghdad, were recorded yesterday, Sunday, 144,100 Iraqi dinars for each $ 100 note. https://www.mawazin.net/Details.aspx?jimare=138297

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