BondLady’s Corner

  In Bondlady’s Corner 

Iraqi News Sunday AM 2-14-21

TLM724 Administrator BondLady’s Corner

Parliamentary Finance Suggests Passing The Budget Next Tuesday

Pratha News Agency94 2021-02-14  The Parliamentary Finance Committee suggested passing the budget next Tuesday, after resolving the dispute over the region’s share within the next 48 hours and fixing it in the budget.

Committee member Ahmed Hama said in statements, that “all the articles and paragraphs of the budget have been decided, with the exception of the region’s share, which the Shiite blocs objected to and has not yet been decided.”

He added that “dialogues are continuing within parliament and it is hoped that a final agreement will be reached within the next 48 hours,” noting that “if it is resolved, it is likely that the budget will be passed on Tuesday.”

Hama explained that “the government did not record any observations on the region’s share, and the objection was within the Shiite blocs.”   http://burathanews.com/arabic/news/386406

Barzani And Plaschaert Stress The Necessity Of Solving The Region’s Budget Problems In Accordance With The Constitution

Time: 02/14/2021 15:45:13 Read: 1,261 times    (Kurdistan: Al Furat News) The President of the Kurdistan Regional Government, Masrour Barzani, affirmed with the United Nations envoy, Jeanine Hennes Blaschahar, on Sunday, the need to solve the problems of the region’s budget in accordance with the constitution

In a statement received by the Euphrates News, a copy of which was received by the Euphrates News, the regional government stated, “The Prime Minister of the Kurdistan Regional Government, Masrour Barzani, received the Special Representative of the Secretary-General of the United Nations in Iraq, Jenin Hennis Blasshardt, and in the meeting, they discussed developments in the situation in Iraq as well as the latest developments in the ongoing negotiations. Between the Kurdistan Regional Government and the federal government and ways to solve problems between the two sides, especially fixing the share of the Kurdistan Region in the federal budget for 2021. ”

The statement said, “The two sides agreed on the need to solve the problems between the region and the federal government within the framework of the constitution and ensure financial rights and dues for the Kurdistan Region, and in another axis of the meeting, the importance of implementing the Sinjar Agreement as it is, in order to bring peace and stability to the region.”   LINK

A Consensus On The Economic Importance Of Reducing The Dinar, And A Disagreement Over Its Timing

Sunday 14th February 2021 98  Baghdad: Hussein Thahab

Academics and experts in economic affairs unanimously agreed on the importance of the decision to devalue the local currency, but the timing was not appropriate yet, and the symposium recommended the actual direction of comprehensive tax reform, as this saves billions of dollars annually, with customs collections delegated in all ports to specialized international companies Under the investment.

The symposium organized by the College of Business Economics at Al-Nahrain University carried the slogan «devaluation and its impact on the Iraqi economy» the foundations of the axes of graduate students and was attended by a number of experts and specialists in economic affairs.

Dean of the College Dr. Nagham Hussein Nehme said: “The symposium shed light on the role of the economic sectors in promoting the reality of development in the country, and I stood at the rationale for the decision to devalue the currency, which carries in it the pros and cons, as the attendees emphasized the timing of the decision, it was preferable to be more studied, and is chosen Good time ».

She indicated that «the step of devaluation of the Iraqi currency should have been accompanied by other steps, represented in supporting industry and agriculture and creating an investment environment. It would have been a major positive step in the economy of Iraq and transforming it from a consumer country to a self-sufficient, productive country, if the factors were available. The appropriate factories, local raw materials, infrastructure and other requirements.

In turn, the academic Dr. said. Abdul Sattar Al-Bayati: “The positive effects of reducing the value of the official exchange rate help, in some circumstances, to transfer demand for specific goods and services from abroad to the interior, to be reflected in the domestic product.

The increase in internal demand automatically increases the demand for local goods, which is reflected in the The need for producers and distributors of these commodities, and those working to sell them, to provide more jobs, which reduces unemployment and provides a boost to the local market.

He warned that «the low currency will not constitute attractive conditions for a migrant worker to come to the country, which provides greater opportunities and options for the local worker in his country, and the rise in the value of the Iraqi dinar in general does not encourage investment in the sectors that Iraq wishes to develop».

Postgraduate students have an imprint in this important seminar, Ibrahim Hussein Abboud said: “The government plan is based on the assumption that the devaluation of the Iraqi currency will make imported goods more expensive, and give locally manufactured Iraqi goods the ability to compete, which will develop the economy after some time.”

He pointed out that “the infrastructure does not need more than a competitive environment, to revive hundreds of existing projects, but in reality they are stalled or not operating at full production capacity as a result of the imported product controlling the local market.”

In turn, graduate student Al-Zahraa Kazem Jawad urged “the need to support the industrial and agricultural sectors and provide all facilities. Regarding the industrial sector, there are many industries for which Iraq was previously famous, such as the leather industry, the manufacture of bricks, glass and others, and these are important industries that have an effective role in the economy.

If it is taken care of and developed, as well as the agricultural sector, the most important agricultural products available in abundance are dates, in addition to grains and the finest types of rice, and the optimal investment of tourism revenues in Iraq, especially Iraq is famous for its religious tourism, whose revenues are very large if they are invested in a form. Right”.

And she stressed “activating the strategy for the advancement of the private sector that was approved by the government and following what was stated in it carefully and seriously, as it is important, accurate and elaborated after studies and discussions between all parties from the government, the private sector and specialists.  LINK

Insulting The National Currency ..!

Pratha News Agency56 2021-02-14  Dr.. Haider Salman  Most of the members of the Parliamentary Finance Committee confirmed the end of preparing the 2021 budget, and that the exchange rate of the dollar has not been returned in a clear insult to the national currency against the dollar, paid for by those with limited income from the poor and middle classes, who are an overwhelming majority in the people.

As well as the repayment of loans and interest on them, and a budget for the Kurdistan region in return for handing over 250 thousand barrels only, without the rest of Iraq’s wealth stolen there, so that the same situation remains that the South (Cherokee) will surrender all of its wealth to take nothing.

While some MPs, who are a small minority, threaten not to accept the balances of humiliation that are taken from the poorest people and given to the richest.

  • Conclusion:  There is no change or equality, and the situation remains people who take everything and people give everything.  It is not permissible for the producers to be unfair, just as it is not permissible to grant the looters. This is a legitimate right for those who protect the country with money and blood to preserve their unity.    http://burathanews.com/arabic/economic/386431

Budget 2021 .. Agreement To Include A Paragraph To Increase The Capital Of Government Banks

Political| 03:46 – 14/02/2021  BAGHDAD – Mawazine News

The Parliamentary Economic and Investment Committee announced today, Sunday, the agreement to include a paragraph to increase the capital of government banks in the draft Federal Budget Law for the fiscal year 2021.

The committee stated in a statement that Mawazine News received a copy of it, that it was “hosted in the presence of the First Vice President The House of Representatives, Hassan Karim al-Kaabi, directors of government banks and a representative of the Central Bank of Iraq to discuss the mechanism of banks ’work and the extent of their contribution to economic development and discuss the implementation of the Iraqi Central Bank’s initiative of five trillion dinars, which includes the sectors of industry, agriculture and housing and directing it in a manner that serves the economic development of the country and drives the economy In the presence of a number of deputies of the Economy and Investment Committee, to discuss the mechanism for implementing the initiative.

The head of the committee, Ahmed Salim Al-Kinani, said, according to the statement, that “this initiative was originally launched by the Economic and Investment Committee more than four years ago and was prepared in full and in detail for industrial and agricultural development and the development of the investment sector in the field of housing and other investments related to making a qualitative leap in the development of projects.” Small, medium and manpower employment. ”

Al-Kinani added, “The bureaucracy that governs state institutions has delayed this initiative, which has lost a large part of its economic goals,” explaining that “the Economic and Investment Committee, and with its legislative and supervisory work, believes that there is a weakness in the mechanism of implementing this initiative, especially in the industrial and agricultural sides, which are the two important aspects that must be That we focus on them in the initiative as they are the main drivers of all economic activities in the country and its weakness lies in the lack of funds allocated to it within the initiative in addition to the great complications in terms of the required guarantees and this reduces the chances of the success of the initiative within these two sectors while we see that the initiative is heading to the housing loan, which is the purchase Housing does not stimulate speculators in small real estate and lead to competition for small real estate, rather than moving towards building housing that stimulates large sectors of the economy and employment of the labor force. ”

He confirmed, “It was agreed to approach the Finance Committee to include in the general budget a paragraph concerning increasing the capital of government banks in a manner that qualifies these banks to carry out their economic and development tasks,”

pointing out to “discussing a number of important issues that must not be absent from the initiative, including ensuring the flow of entry of materials Initial requirements for factories inside Iraq to ensure the continuity of production and non-stopping of it, as well as the guarantees required for loans for industrial projects that must take into account the percentage of the loan from the required guarantee of real estate.   https://www.mawazin.net/Details.aspx?jimare=141666

Parliamentary Finance Holds Its 46th Meeting To Discuss The Draft Budget

Time: 02/14/2021 12:24:51 Read: 2,470 times   {Baghdad: Al Furat News} Today, Sunday, the Parliamentary Finance Committee held its 46th meeting, in which it will resume its discussions on the draft federal budget bill for 2021.

In a brief statement, the Euphrates News received a copy of it, the Media Department stated that “the Parliamentary Finance Committee held its 46th meeting at which it would resume its discussions on the draft Federal Budget Law for 2021.”

For his part, the head of the Finance Committee in the House of Representatives, Haitham al-Jubouri, announced that the committee has completed its work to formulate the general budget for 2021 after it received it on the tenth of last month.

Al-Jubouri said in a press statement, “The Finance Committee held forty-six meetings over a period of five hundred and twenty-three hundred to host all the state ministers, heads of institutions, general managers, governors, bodies, federations, trade unions, academics, economic experts and various social segments from the private sector, in order to ensure that this budget is relevant. It has an economic dimension and contains real development and reform plans. ”

The head of the Finance Committee added, “The committee reduced the financial deficit in the budget from 77 trillion Iraqi dinars to 26 trillion, and reduced public spending by transferring to the investment budget to rise from 16% to 24%.”

Al-Jubouri pointed out that “the committee has allocated funds for stalled and stalled projects in the governorates, allocating 400 billion dinars to build the large port of Faw, doubling the allocation of petrodollars to (one trillion) for oil-producing provinces, increasing allocations for the development of regions and providing an allocation for the construction of the Mosul airport and the rehabilitation of the entrances to the capital Baghdad and the Bada water project In Basra. ”   LINK

Planning And The World Bank Discuss A Third Household Survey And The Youth Empowerment Program In Iraq

Time: 02/14/2021 11:28:48 Read: 1,859 times   {Baghdad: Al Furat News} An intensive round of discussions and discussions between the two technical teams from the Ministry and the World Bank was held at the Ministry of Planning, today, Sunday, on the nature of the support provided by the World Bank in a number of areas.

In a statement, the Euphrates News received a copy of it, the ministry stated, “The Undersecretary of the Ministry of Planning, Maher Hammad Johan, chaired the meeting and was attended by the Director General of International Cooperation and Government Investment and Poverty Alleviation Strategy, the Assistant Director General of the Regional and Local Planning Department, and a number of stakeholders, while Ramzi Numan and his accompanying delegation represented the World Bank in Iraq.

The statement stated that “during the meeting, a discussion was held for the third economic and social survey of the family in Iraq, which the Ministry of Planning intends to implement during the current year 2021, as well as the training program for economic inclusion, which was discussed.

It will be engaged with the paths of the poverty alleviation strategy by creating sustainable job opportunities in coordination with the Ministry of Labor and Social Affairs, by developing the skills and technical capabilities of youth, and granting them soft loans that enable them to establish sustainable income-generating small projects.

And he continued, “The World Bank team showed its high willingness to work jointly with the Ministry of Planning, and the possibility of financing a number of important projects, in order to serve the achievement of human development in Iraq.”   LINK

The Cabinet Secretariat Circulates The Decisions Of The Supreme Committee To The Ministries And Departments For Implementation

Political| 06:03 – 14/02/2021  Baghdad – Mawazine News The General Secretariat of the Council of Ministers circulated, on Sunday, the decisions of the Supreme Committee to the ministries, departments and governorates to start implementing them.

The official newspaper stated, “The General Secretariat of the Council of Ministers has circulated the decisions of the Supreme Committee to all ministries, departments and governorates to initiate their implementation according to specific timelines and procedures.”

Yesterday, the Supreme Committee issued several decisions to confront the Coronavirus, including imposing a curfew and closing event halls and places of worship. https://www.mawazin.net/Details.aspx?jimare=141684

The Banking System Is Required To Support Development

Sunday 14th February 2021  54  Baghdad: Morning   A member of the Businessmen Union, Muhammad al-Najjar: The financial institutions should contribute to advancing the economic development within the country and support the development process in a manner that achieves the benefit of all parties.

He pointed out that “the goal of having a large banking system is to achieve economic development and raise the standard of living for the family, in conjunction with supporting paths that ensure sustainable development.”

Al-Najjar explained that “the existence of an effective and discreet banking system requires mastery of advanced technology, which supports the large volume of work required by the country, and also requires special qualification and trained administrative competencies that are fully aware of the nature of their work and move work from tradition to modernity”, pointing out that “this The orientation requires organizing specialized courses and workshops in cooperation with specialized international bodies.   LINK