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Iraqi News Iraqi News Monday AM 3-15-21

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Al-Kalabi: The Region’s Share Is Behind The Postponement Of The Budget Vote

Previous meeting between the federal government and the Kurdistan Regional Government

Money  and business  Economy News – Baghdad  Representative Yousef Al-Kalabi confirmed that the article on the Kurdistan region’s share is behind the postponement of the vote on the budget, while he revealed a proposal to establish a private oil company in the region to be monitored by the SOMO company.

Al-Kalabi said in a televised statement followed by “Al-Eqtisad News”, that “a request was signed by 153 deputies to include the budget in Monday’s session, but they were surprised that it was not included in the session’s agenda.”

He added that “Article (11) of the share of the Kurdistan region is behind the postponement of the vote on the budget,” noting that “the problem with the Kurdistan region is the oil file and the sovereignty of the border outlets.”

He pointed out that “a proposal was made to establish a private oil company in the Kurdistan region that is being monitored by the SOMO company,” stressing that “the region did not implement previous agreements regarding the management of ports.”

Number of observations 244 Date of addendum 3/15/2021

https://economy-news.net/content.php?id=24455

Planning: Raising The Price Of The Dollar Caused An Increase And Cast A Shadow Over The Poor

Time: 03/15/2021 12:49:05 Read: 3,731 times

{Baghdad: Al Furat News} The Ministry of Planning indicated that the raising of the dollar price caused an increase and cast a shadow over the poor

A spokesman for the Ministry of Planning, Abdul Zahra Al-Hindawi, told {Al-Furat News}, that “we do not have data on the loss caused by the approval of the fiscal budget for 2021,” stressing that “the change in the exchange rate of the dinar against the dollar had side effects. One of these effects is the rise of the materials.” In general, the food, consumer and construction materials, which rose in varying rates, led to an increase in inflation levels in the country by 2/4 over the past three months. ”

He continued, “During the period that has passed, the rise does not exceed one and a half percent, and as a result, when such a percentage occurs, which is 2/4, of course, there are some prices that may have risen to 20% or less or more, and that this price increase has cast a shadow over the vulnerable and poor who live below the line.”

Poverty. Therefore, one of the important measures is how to maintain prices while providing the basic food or consumer materials that the Iraqi citizen needs, with regard to the implementation of projects and their impact on the issue of raising the price.

On December 19, 2020, the Central Bank of Iraq decided to raise the exchange rate of the dollar against the dinar with the support of the Ministry of Finance, and it became official:

1450 dinars per dollar is the purchase price of foreign currency from the Ministry of Finance.

1460 dinars per dollar the selling price of foreign currency to banks.

1470 dinars per dollar is the selling price of foreign currency to the public.

The decision sparked a wave of anger in the Iraqi street as a result of the high prices of materials in general and their impact on low-income people.

The Ministry of Finance attributed the decision to the government’s attempts to address the stifling crisis that Iraq is witnessing as a result of low oil prices, to ensure protection of the economy and to achieve the reforms that it promised several months ago.

It is noteworthy that the representative of the coalition of Iraqis, Hassan Khalati, announced the collection of parliamentary signatures to reconsider the exchange rate of the dollar after its negative impact on the local market.  LINK

Deputy: The Continuous Rise In The Prices Of Basic Materials Is Evidence Of The Failure Of Changing The Dollar Exchange

Time: 03/15/2021 13:11:50 Read: 2,834 times  (Baghdad: Al Furat News) A member of Parliament from the Alliance of Saeron Salam al-Shammari called on the government, today, Monday, to take rapid steps to stop the continuous rise in the prices of basic materials in particular.

Al-Shammari said in a statement that Al-Furat News received a copy of, that “changing the foreign currency exchange rate is an urgent step, with incalculable results, and the evidence is the continuous popular rejection of this step and the continuous rise in most of the basic materials that followed.”

Al-Shammari added, “The government has not yet taken any step towards mitigating the negative impact of this rise. Rather, it is still watching the negative effects of what it has done,” asking: “What are the positive results of changing the exchange rate on the citizen and the economic sector?”

He pointed out that “the government, despite popular appeals and many deputies and political forces, to work quickly to correct the situation, but unfortunately it is still in its position that causes great harm to citizens.” LINK

Parliament Extends The Date Of Its Session

Political| 02:09 – 15/03/2021  BAGHDAD – Mawazine News  The House of Representatives extended the date for today’s session, during which it is scheduled to complete voting on the Federal Supreme Court law.

The Media Department of the House of Representatives stated, in a brief statement, that Mawazine News received a copy of, that “today’s session, Monday, March 15, 2021, will be held at 7 pm.”

Earlier today, the Speaker of Parliament, Muhammad al-Halbousi, met with the heads of political blocs to agree on the provisions of the Federal Supreme Court Law.

https://www.mawazin.net/Details.aspx?jimare=145622

Global Exchange Rates, Gold And Oil Prices Today, Monday

Monday 15, March 2021 10:48 | EconomicalViews: 291

Baghdad / NINA / The Iraqi Political Economic Center announced the global rates of foreign currencies, gold and oil today, Monday.

The selling price of the dollar on the local stock exchange was 146,000 dinars per hundred dollars, and the purchase price was 145,000 dinars per hundred dollars.

The price of 100 euros was 119.30 dollars, 100 pounds 139,000 dollars,equivalent to 100 dollars 761.70 Turkish liras , while the global price of an ounce of gold recorded 1723.18 dollars, while the price of a barrel of Brent crude oil recorded 69.58 dollars, and the price of a barrel of American crude oil 66.00 $. / Finished 8

https://ninanews.com/Website/News/Details?key=893478

The Stock Market Begins Its Week On The Rise

Stock  market. “Economy News” Market  Economy News – Baghdad  The index of the Iraq Stock Exchange (the Stock Exchange) rose, on Monday, by 1.55%.

During the meeting, 2.4 billion shares were traded, worth 1.05 billion dinars.

The Cartoon Industry and Trade Company topped the winning companies, the Al-Amin Insurance Company, while the Carpet and Furniture Company topped the losing companies, followed by the Agricultural Products Company.

In turn, foreign investors bought 52 million shares, worth 39 million dinars, after executing 15 deals on the shares of 3 companies.   Number of observations 86 Date of addendum 3/15/2021

https://economy-news.net/content.php?id=24460

Economy And Service Provision

Monday 15th March 2021  77  Sabah Mohsen Kazem

The economic organization of productive, consumer and investment activities, whenever it adopts scientific and methodology, will find outputs for immediate problems, bypassing local crises, ensuring price stability, financial liquidity, and securing commercial activities through economic sophistication rather than spontaneous, improvisational and prosthetic, which fills a crisis here so that a crisis emerges there.

From Adam Smith and his book The Wealth of Nations to Ricardo’s sequence to post-neoliberalism, economists plan to solve all the dilemmas facing economic crises.

Therefore, the Iraqi legislator and all specialists, academics and researchers, must monitor failures and bottlenecks and find effective solutions, as we explained in the articles of agricultural development or industrial investment, and solve the problem of unemployment and inflation. Singapore and the Asian tigers also rose industrially, without relying on oil by expanding capital, housing and saving Services .

Our hope is for the big Faw project, the dry canal, the “sea, air and land” transit movement, the development of the resources of the customs ports, and the regulation of collecting water and electricity at a fixed price acceptable to all, balancing the poor and the rich to develop electrical capacity that contributes to industrial development, while encouraging private capital for local investment. Enough for malls. Going to diversified productive industries in all fields, such as the experience of neighboring Iran, despite the suffocating siege on it, but the diversification of industrial production alleviates the impact of the suffocating economic crisis.

John Kenneth Galbraith confirms with his book History of Past Economic Thought, The Image of the Present, p. 315: “Adaptation to economic reality is also met with resistance, just as it was in the past, because of the desire to view economics as a science in the academic world in which it is taught. Economics, the criterion of intellectual accuracy is decided in the natural sciences.

Economists and others working in the social sciences – an aspiration that may be inevitable – look to the intellectual standing of those working in chemistry, physics, biology and microbiology. This requires putting forward the assumptions accepted in economics, such as the composition of the neutron, proton, atom and molecule.

There is no doubt that the economic organization of resources creates comprehensive strategic development and provides services to citizens. Therefore, social problems decrease, and the citizen feels that the state takes care of his interests and does not seek the exclusion of a political class, without caring for the citizens, and every feeling of achieving development is reflected in economic and social stability, when basic health services are available. Education and municipalities.   LINK

In Order To Achieve Real Economic Reform, Iraq Needs An Infrastructure To Adopt Advanced Technology

Monday 15th March 2021 93  Baghdad: Hussein Thahab, a member of the Businessmen Union, Qahtan Adnan Abdul-Amir, said that “the process of economic reform requires that we start from where the world ended, and here we stand at the technology joint that is adopted internationally in managing the joints of developed countries.”

He said that «the development of the system of work and performance in Iraq requires the adoption of advanced technology that directs the paths of performance in the correct manner, which requires us at this stage to create infrastructure that serves the technology sector, and here it is necessary to support government for this approach The important”.

Shifting actions

Abdel Amir pointed out that “technology adoption requires that every employee write his daily procedures. That is, what he performs in detail for a certain period of time and then transforms the procedures into electronic tasks that rely on advanced technologies that contribute to the comprehensive reform processes in the country. Writing procedures constitutes 40 percent of the automation value to reach an ideal application of e-government.

The electronic government

He stressed that «the challenges facing the process of transition towards automation or e-government are several, including the weakness of the Internet in the country and its high prices, as well as the lack of a generation capable of advanced technology, which requires the creation of human resources with a high degree of education that leave an imprint with an impact.

positive”.

Technology use

And Abdul Amir stated, “Whenever the tools for using technology are available, we will be on the right track to build the country and fix the most important joints that contribute to realizing a multiplicity in financial revenues,” indicating that the Internet joint in Iraq must be under the umbrella of the Ministry of Communications exclusively, to obtain the service Required ».

saving information

Refer to the German experience in this field, which made each employee write the procedures for each working hour, in order to document the process of preserving all the information.

He cautioned that “the advancement of infrastructure can be implemented through local bilateral partnerships for an effort specialized in these the field”.  LINK

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