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Iraqi News Wednesday AM 2-24-21

TLM724 Administrator BondLady’s Corner

A demonstration in front of the Central Bank to demand a review of the dollar exchange rate … and the dismissal of the bank governor

Wednesday 24, February 2021 14:31 | Economical Views: 174  Baghdad / NINA / Dozens of citizens and merchants demonstrated in front of the Central Bank to demand a reconsideration of the dollar exchange rate, returning it to 120,000 dinars for a hundred dollars, dismissing the governor of the Central Bank and holding accountable private banks accused of corruption. https://ninanews.com/Website/News/Details?key=889755

The Negotiations In Baghdad And Erbil And The 2021 Budget Include … The Details Of The Kurdistan Government Meeting

Political| 03:00 – 02/24/2021   Baghdad – Mawazine News , Qubad Talabani, deputy head of the Kurdistan Regional Government, confirmed on Wednesday, the continuation of negotiations to ensure financial dues within the federal budget for the year 2021.

According to the “Kurdsat News” satellite, “Qubad Talabani, deputy head of the Kurdistan Regional Government, shed light at the beginning of the meeting, on the last Update on negotiations with the federal government regarding the budget and financial dues for the Kurdistan region.

And she added: “Talabani stressed the continuation of negotiations with better preparations for solving problems.”

On the draft financial budget law for the Kurdistan region, the Ministries of Finance and Planning confirmed that most of the statistics are available for a transparent and realistic budget.

In another aspect of the meeting, a draft joint curriculum between the public and private sectors in the Kurdistan region was discussed, and after extensive discussion, the project was approved.

Also during the meeting, the Minister of Health provided information about the new strain of mutated Corona,and the Cabinet had held a meeting today to discuss the latest developments in the draft federal budget law for 2021, and the Kurdistan Regional Budget Bill, in addition to other topics.

https://www.mawazin.net/Details.aspx?jimare=143141

Parliamentary Finance By / NINA /: Do Not Vote On The General Budget Without The Government’s Approval Of The Amendments

Wednesday 24, February 2021 15:26 | Economical Views: 162  Baghdad / NINA / The Parliamentary Finance Committee revealed a summary of its meetings to discuss the draft Federal Budget Law 2021.

A member of the committee, MP Ahmad Hajj Hama Rashid, said in a statement to the Iraqi National News Agency ( NINA ) that “the remaining part of the draft general budget bill 2021 relates to the share of the Kurdistan region,” noting that the bulk of the other amendments and proposals were formulated by the Finance Committee And it was handed over to the Prime Minister formally.

”He explained that“ the region’s share is still the subject of discussion and debate, 12.67% as mentioned in the government draft according to the population percentage of the region’s governorates, or more or less with the addition of sovereign expenditures. ”

He added that “the Kurdish blocs in support and opposition from them accept the government text that was agreed upon, but until now there is no agreement to amend this paragraph or replace it with a new text,” noting that “the final voting session on the draft federal budget bill 2021 depends on the government’s approval. “On the amendments and proposals that were drafted by the Finance Committee, including adding the new text related to the Kurdistan region’s share or keeping the current text itself.”

The House of Representatives decided to lift its open session that it resumed early last month, to continue discussion of the draft federal budget law 2021, before the Presidency of Parliament announced the evening of the same day at that time the end of the discussions of the draft budget, while the Parliamentary Finance Committee continues its daily meetings in the guesthouse to study the draft general budget law https://ninanews.com/Website/News/Details?Key=889764

Finance Discusses The Implications Of Changing The Currency Exchange Rate And Rebalancing The Economic Sector

Wednesday 24, February 2021 17:04 | Economical Views: 17  Baghdad ( NINA ) – Minister of Finance Ali Abdul Amir Allawi chaired an expanded meeting to discuss the objectives achieved by changing the currency exchange rate.

The Ministry of Finance stated in a statement received by the Iraqi National News Agency / NINA / a copy of it: “During the meeting, the positive effects of changing the exchange rate of the dinar against the dollar and the effect of that step on restoring balance in the Iraqi economic reality burdened with challenges and obstacles, and protecting it from the risk of collapse were discussed. “.

She added, “The meeting discussed mechanisms to change the investment environment, support the private sector, and support industry and agriculture in line with corrective measures for the path of the national economy. Encouraging measures related to the work of the banking sector and its contribution to providing support for various productive sectors, as well as procedures for automating the tax and customs system and simplifying the overall operations were discussed.” Administrative in line with the adoption of the white paper. ”

The minister listened to most of the problems raised by representatives of the private sector and industrialists, and stressed: “The Ministry of Finance has taken several measures to support the effects of changing the exchange and is continuing to work on translating them effectively to protect the poor classes, in conjunction with the approaching vote of the House of Representatives on the draft of the general budget bill.”

The meeting was attended by the Undersecretaries of the Ministries of Finance and Planning, Adviser to the Prime Minister’s Office, Abdul Hussein Al-Anbaki, the Financial Adviser to the Ministry of Finance, a number of general directors, heads of bodies and a group of representatives from the private sector and industrialists. https://ninanews.com/Website/News/Details?key=889783

An Expanded Meeting Chaired By The Minister Of Finance To Discuss The Implications Of Changing The Exchange Rate

Author: AhadNA4 On 2/24/2021 – 5:21 PM 31  Today, Wednesday, the Minister of Finance, Ali Abdul Amir Allawi, chaired an expanded meeting to discuss the goals achieved by changing the currency exchange rate.

The ministry said in a statement received by Al-Ahed News: “During the meeting, the positive effects of changing the exchange rate of the dinar against the dollar and the impact of that step on rebalancing the Iraqi economic reality burdened with challenges and obstacles and protecting it from the risks of collapse were discussed, in addition to discussing mechanisms for changing The investment environment, private sector support, industry and agriculture support, in line with corrective measures for the path of the national economy.

The meeting discussed, according to the statement, “the encouraging measures related to the work of the banking sector and its contribution to providing support to the various productive sectors. As well as the procedures for automating the tax and customs system and simplifying all administrative processes in line with the adoption of the White Paper. The Minister listened to most of the problems raised by representatives of the private sector and industrialists.

Allawi said, “The Ministry of Finance has taken several measures in support of the effects of changing the exchange and is continuing to work on translating them effectively to protect the poor classes, in conjunction with the approaching vote of the House of Representatives on the draft general budget bill.”

https://alahadnews.net/166913/%d8%a7%d9%82%d8%aa%d8%b5%d8%a7%d8%af/

Economic Specialist To / NINA /: Frequent Official And Unofficial Holidays Negatively Affect The Country’s Economy … And They Must Be Regulated By Law

Wednesday 24, February 2021 10:02 | Economical Views: 382   Baghdad / NINA / The specialist in economic affairs, Hussain Shaker Tahilo, confirmed that official, unofficial and emergency holidays in Iraq have a negative impact on the country’s economy, and the government must organize a law for these holidays.

In a statement to the Iraqi National News Agency ( NINA ) , Tuhilo said : Iraq is at the forefront among the rest of the countries in the diversity of national and religious occasions and official and unofficial holidays. The world and Iraq in particular, as these holidays in all their aspects create negative economic effects, noting that some economic studies confirm that Iraq loses millions of dollars because of these holidays, the fact that Iraq after 2003 opened its financial, monetary and trade economy with the rest of the countries.

He stressed that “the many holidays affect the work of the Central Bank and Iraqi banks because of their association with global banks and global trade policy, especially if there is a mismatch between Iraqi holidays and events with global holidays.

As for the local level, Tahailou asserted: The holidays have a negative impact on business owners and professions. Free and daily wages, which are a large segment in Iraq, as they consider it a curse that negatively affects their income and daily power (the holiday curse), while employees in state institutions see it as a positive and consider it a golden opportunity to entertain themselves and their families, provided that it is not accompanied by a curfew.

He continued: “Iraq needs to legislate laws that regulate official holidays and compensate holidays with additional working hours as is applicable in developed countries in order not to negatively affect economic growth. https://ninanews.com/Website/News/Details?key=889693

Representative Economy: The Banking System Is Still Underdeveloped And Its Development Will Address 3 Drawbacks, Most Notably Smuggling

11:30 – 24/02/2021  The information / Baghdad ..Member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, confirmed, on Wednesday, that the Iraqi banking system is still underdeveloped, while indicating that its development will address 3 negatives simultaneously.

“One of the most important factors of economic growth in any country is the development of the banking sector as the main building block in strengthening the frameworks for financial exchange,” Jawdat said in an interview with “Al-Maouma”, pointing out that “the status of banks in Iraq and their technologies is still lagging compared to other countries.”

And she added, “The development of banking performance and the introduction of modern technologies with all its methods will address 3 drawbacks, in that one of the most prominent is preventing currency smuggling abroad and absorbing the cash mass available in homes and reducing theft crimes in addition to securing a large cash block in banks that will be a gateway to open investment and financial loans.

Jawdat indicated that “the Iraqi banking performance is still very late for the rest of the international banks in terms of electronic mechanization, its mechanisms, despite the presence of efforts in this regard, but it is still too late.” End / 25 F.    https://www.almaalomah.com/2021/02/24/522189/

Iraq Intends To Export Aluminum To Two Neighboring Countries

Money  and business  Economy News – Baghdad  Ur State Company, one of the companies of the Ministry of Industry and Minerals, revealed its great capabilities and capacities to produce aluminum products of various shapes, sizes and measurements.

The general manager of the company, Haydar Al-Hussainawi, said in a statement seen by “Al-Eqtisad News”, that “the company obtained fundamentalist approvals and a permit to export in preparation for exporting aluminum products to the countries of Syria and Jordan in light of the availability of high capabilities and capacities that reach 20 thousand tons / year.”

Al-Hussainawi emphasized that “sufficient stock of raw materials is available and the company owns smelters to recycle aluminum scrap, as well as the company launching an initiative to collect the available scrap.”

He pointed out that “the factories that the company owns specializes in the production of aluminum sheets and sections of various sizes and measurements, and serves the private sector, in addition to the production of interconnections for the Ministry of Electricity,” stressing that “the company’s products suffer from competition from Chinese products, due to the weak control of border ports and examination of imported products.” And to know the extent of its compliance with the approved specifications.

Number of observations 60 Date added 02/24/2021   https://economy-news.net/content.php?id=24201