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Parliamentary Bloc: We Reject Foreign Loans In The 2021 Budget

money and business  Economy News – Baghdad  On Saturday, the National Approach bloc announced its rejection of foreign loans in the budget.

The head of the bloc, Ammar Tohme, said in a press conference held in the House of Representatives and followed by “Economy News”, that “his bloc rejects the new foreign loans included in the 2021 budget bill amounting to more than (8.5) billion dollars,” calling on “Parliament not to approve them.”

Tohme warned “of the foreign borrowing policy and its burdensome sovereign and economic effects,” noting that “many of the proposed projects within these loans do not represent a priority in the government investment approach.”

He added that “allocations of local investment projects amount to (24) trillion dinars, which are sufficient amounts to cover development and productive investment projects if there is an efficient and sound vision, planning and management.”

And that “what has been allocated in the 2021 budget to repay the debt in installments and interest exceeds (9) trillion dinars, which constitutes 10% of the estimates of total operational expenditures.”

He stressed that “the continuation of external borrowing will annually double the amounts paid to pay the installments and interest in a cumulative and unjustified manner.”

He stressed that “the National Approach bloc refuses to authorize the Minister of Finance to issue sovereign payment guarantees to investors in electric energy in the budget law for the same harmful reasons and consequences mentioned and calls on Parliament to cancel them.”

Number of observations 93 Date of addendum 20/03/2021

https://economy-news.net/content.php?id=24526

Stability of the dollar exchange rate in Iraq

Time: 03/20/2021 13:18:15 Read: 4,485 times  {Economist: Al Furat News} The exchange rates of the dollar stabilized in Iraq for two days.   The exchange rate, according to the Baghdad Stock Exchange, was 145,900

Buy 145,250   Sale 146,250

https://alforatnews.com/news/%D8%A7%D8%B3%D8%AA%D9%82%D8%B1%D8%A7%D8%B1-%D8%A7%D8%B3%D8%B9%D8%A7%D8%B1-%D8%B5%D8%B1%D9%81-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%B1-%D9%81%D9%8A-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82

In support of the local product .. The representative economy calls for upgrading the country’s economy

Time: 03/2021 13:59:54 Read: 1,092 times   {Baghdad: Al Furat News} The head of the Parliamentary Economic and Investment Committee, Ahmed Salim Al-Kinani, called for upgrading the local product to achieve the interest of Iraq, while stressing the importance of stopping the import of materials that could be produced and manufactured inside the country.

A statement issued by the media office of the committee that {Al Furat News} received a copy of it stated that “the head of the Parliamentary Economic and Investment Committee, Ahmed Salim Al-Kinani, made a visit yesterday, the first Thursday, to the General Company for Iraqi Fairs and Commercial Services, to see the company’s work and provide support to it by the committee Parliamentary economy and investment in a way that achieves the interest of Iraq and advances its economy.

The media office quoted Al-Kinani as saying that “the visit comes on the basis of tireless efforts to develop the local product,” stressing “the need to restore the spirit of the local product and stop importing materials that can be produced and manufactured inside Iraq.”    LINK

https://alforatnews.com/news/%D8%AF%D8%B9%D9%85%D8%A7-%D9%84%D9%84%D9%85%D9%86%D8%AA%D9%88%D8%AC-%D8%A7%D9%84%D9%85%D8%AD%D9%84%D9%8A-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D9%86%D9%8A%D8%A7%D8%A8%D9%8A%D8%A9-%D8%AA%D8%AF%D8%B9%D9%88-%D9%84%D9%84%D8%A3%D8%B1%D8%AA%D9%82%D8%A7%D8%A1-%D8%A8%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF-%D8%A7%D9%84%D8%A8%D9%84%D8%A7%D8%AF

The Central Bank warns of shell companies that claim to facilitate loan procedures

Saturday 20 March 2021  55  Baghdad: Morning  The Central Bank of Iraq warned citizens against dealing with fake companies that claim to facilitate procedures for receiving loans from banks.

The bank affirmed in a statement that Al-Sabah received a copy of it that “it did not grant such licenses to any company or entity, and it urges banks to facilitate lending procedures and direct contact with citizens, in accordance with the official contexts.”

The statement added that «the Central Bank has approached the security authorities to take legal measures against the aforementioned companies and agencies because of the damage they cause to those dealing with them.

According to specialists, such companies are a negative phenomenon on the national economy, as they drain citizens’ money with high interest, at a time when markets are witnessing the emergence of such cases and taking the amount of interest in advance without facilitating the access of those dealing with them to loans from Iraqi banks.   LINK

https://alsabaah.iq/42988/%D8%A7%D9%84%D9%85%D8%B1%D9%83%D8%B2%D9%8A-%D9%8A%D8%AD%D8%B0-%D8%B1-%D9%85%D9%86-%D8%B4%D8%B1%D9%83%D8%A7%D8%AA-%D9%88%D9%87%D9%85%D9%8A%D8%A9-%D8%AA%D8%AF-%D8%B9%D9%8A-%D8%AA%D8%B3%D9%87%D9%8A%D9%84-%D8%A5%D8%AC%D8%B1%D8%A7%D8%A1%D8%A7%D8%AA-%D8%A7%D9%84%D9%82%D8%B1%D9%88%D8%B6

Industry: commodity dumping policy {ongoing »

Saturday 20 March 2021   89  Baghdad: Shatha Al-Janabi    The Ministry of Industry believes that talking about the positive impact of supporting the local industry after the rise in the price of the dollar is premature, while it criticized the continuation of the policy of dumping imported goods at the expense of the local, and the absence of support for the national product. Entities seeking to develop productive factories, and to provide an opportunity for the advancement of industry and the ability to return the local product.

The Director General of the Ministry’s Economic Department, Hashem Azzawi Muhammad, told Al-Sabah that “it is too early to talk about the positive impact of the high price of the dollar against the dinar in the industrial sector,” noting that “the industrial product needs a long period that may last for months to provide raw materials.”

He added, “There is a problem represented by raising the customs tariff on some imported goods, and it coincided with the change of the dollar’s exchange, with the continuation of the dumping policy for imported goods.” Governmental by protecting the poor classes and supporting the pharmaceutical industries sectors, ”indicating that“ the national industry since 2003 until now has been subjected to attacks by merchants, due to the lack of state policy, whether capitalist or socialist.  LINK

https://alsabaah.iq/43001/%D8%A7%D9%84%D8%B5%D9%86%D8%A7%D8%B9%D8%A9-%D8%B3%D9%8A%D8%A7%D8%B3%D8%A9-%D8%A7%D9%84%D8%A5%D8%BA%D8%B1%D8%A7%D9%82-%D8%A7%D9%84%D8%B3%D9%84%D8%B9%D9%8A-%D9%85%D8%B3%D8%AA%D9%85%D8%B1%D8%A9

Disclosure Of A Plan To Invest Associated Gas In Iraq

Energy   Economy News – Baghdad   The Ministry of Oil announced, on Saturday, the implementation of a plan to invest in associated gas with oil, while it confirmed that gas production reached 110 million cubic feet per day during the past two months.

The Undersecretary of the Ministry of Oil, Hamid Al-Zobaie, said that “during the past two months, there has been an increase in production of 50 million standard cubic feet from the northern oil fields and 60 million standard cubic feet from the fields of the south,” according to the official news agency, INA.

He added, “The South Field witnessed an increase of 60 million standard cubic feet for the North Rumaila, the fifth isolation station, and its capacity reaches 120 million cubic feet per day,” adding that: “Now, 60 million cubic feet has entered into service as a first stage, and a new additional quantity will enter in the coming months.”

He pointed out that “there is an increase in gas investment, which leads to the investment of liquids from gases from condensers and (BG), as the consumption demand for it has been met, and exports will increase, due to the increase in gas investment.”

He stressed that “the ministry has a plan to fully invest the quantities of gas associated with oil production, and it is among its prepared projects, and is now under implementation.”

“There are four projects during the current period, which are the Nasiriya gas investment with a capacity of 200 million cubic feet per day, the Halfaya investment with a capacity of 300 million feet, the Artawi project in Basra gas with a production capacity of 400 million cubic feet, and the Artawi project in southern gas with a capacity of 300 million feet. cubic”.

He explained that “the total of these projects is 1200 million cubic feet per day, in addition to the quantities of gas currently invested, which constitute 1500 million standard cubic feet per day,” noting that “the sum of the two parties is equal to the sum of the gas produced with oil, which amounts to 2,700 million cubic feet per day.” .

He stated that “gas in recent years is a basic resource and is environmentally friendly, and its financial return is high, in addition to its high energy production in power stations, which are more gas-produced.”

He pointed out that “the Ministry of Oil has worked with the Ministry of Electricity to equip the stations with the available fuel of gas, kerosene, fuel oil, fuel oil and crude oil,” stressing that “the ministry is working continuously to provide fuel to all stations, and to deliver it to stations distributed throughout the country.”

Number of observations 59, date of addendum 20/03/2021 https://economy-news.net/content.php?id=24527

An Increase In The Outlets’ Revenues … And A Distinctive Imprint That Electronic Automation Will Place On The Current Year’s Revenues

Author: AhadNA2 On 3/20/2021 – 10:07 AM 78   On Saturday, the Border Ports Authority confirmed that more revenues will be achieved in 2020 than 2019, while indicating that the current year will be more distinguished after the application of the electronic automation system.

The head of the border outlets, Omar Al-Waeli, said, according to the official agency, that “there are many unofficial outlets and crossings, as well as there are openings mostly in the Kurdistan region,” indicating that “the commission submitted proposals and official books several times to the Commander-in-Chief of the Armed Forces, Prime Minister Mustafa Al-Kazemi.” And to the Joint Operations Command and to the Border Guard Command, and to the closure of these unofficial crossings and outlets.

He added, “Prime Minister Mustafa Al-Kazemi is following this issue very closely, and has instructed more than once to follow up on this file, but the general majority of these crossings and ports are in the Kurdistan region, and therefore closing these crossings and ports is the responsibility of leading the joint operations and leading the border guards, with coordination and cooperation. With the relevant authorities in the region.

And he indicated that “until now the region’s ports have not been subject to the Federal Border Crossing Authority, and the region has not implemented Cabinet Decision No. 13 of 2019, in addition to that until now there has been no answer to the proposal submitted by the commission through legal and administrative methods through the General Secretariat to open an office for coordination.

In the Kurdistan region in order to activate the provisions of this aforementioned decision, and the region’s ports are not linked to the federal government’s outlets. ”He pointed out that“ the matter depends on the approval of the region and openness to the Federal Border Crossing Authority, in order for there to be complete control over all Iraqi ports, including Territory outlets.

“He explained that “Cabinet Resolution No. 84 of 2020 stipulated that the work of the border crossings and the departments working in them shall be 24 hours, and there are surveillance cameras at the headquarters of the Border Ports Authority’s operations, and there are committees that come out continuously to follow up through the working security authorities,” indicating that “ Work at border crossings is under control, the prestige of the state is present, and the procedures are tight, and there is no difference in the work of the ports during the hours of the day or night.

”He pointed out that“ the Border Ports Authority is one of the successful files in the government program, and it needs support from the House of Representatives and the judiciary, as well as Supporting the regulatory authorities represented by integrity and the Office of Financial Supervision.

”He stated that“ sea ports are one of the most common border points from which revenues are collected, ”noting that“ there are revenues realized during this period due to the supervisory, inspection and control measures taken by the authority. ”

And he indicated that “there are provisions on the process of delineating goods in terms of customs, tax and the file of border crossings, despite the force majeure conditions that the country is going through due to the Corona virus, and revenues have been achieved in 2020 more than 2019, and therefore the year 2021 will be distinguished by electronic automation, in terms of Achieving revenues and exercising a greater role in monitoring, controlling and supervising the collection process in these outlets.

تصاعد بإيرادات المنافذ.. وبصمة مميزة ستضعها الأتمتمة الالكترونية على إيرادات العام الحالي

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