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Parliamentary Finance: 3 Proposals Regarding The Budget For The Next Three Years

Time: 04/21/2021 02:56:22 Read: 7,644 times   {Economist: Al Furat News} The Parliamentary Finance Committee unveiled a proposal to approve the 2021 budget for the next three years.

Al-Hajja member Muhammad Al-Shabky said in a press statement, “The holding of parliamentary elections in October next and the approval of their results, and the formation of the government, which may be delayed until April or June of next year, this matter will cause a delay in approving the budget next year and thus will affect the exchange mechanism in the provinces.” Ministries and contractors’ obligations.

He added that “there are 3 proposals to implement a mechanism for implementing the budget next year, the first of which is the adoption of data and accounts for the 2021 budget for the 2022 budget, while the second proposal included the approval of this year’s budget for the next three years, which is an opinion submitted by MPs and political blocs.”

And he added, “The third proposal is to adopt a 12/1 disbursement mechanism in order to implement the Financial Management Law by relying on the 2021 budget for any reason if it is not possible to legislate the 2022 Budget Law.”

Al-Shbaki confirmed that “the Finance Committee and the House of Representatives are studying many proposals that lead to the approval of next year’s budget smoothly and easily.”   LINK

Economic specialist for / NINA /: The government’s interference in monetary policy is a dangerous precedent

Wednesday 21, April 2021 09:16 | Economical Views: 346   Baghdad / NINA / Economic specialist Dergham Muhammad Ali affirmed that the government’s interference in the tools of monetary policy is a dangerous precedent that contradicts the concept of institutions.

In a statement to the Iraqi National News Agency ( NINA ) , Ali said, “The imposition of a specific exchange rate by the Ministry of Finance on the Central Bank, which is the authority concerned with exchange rates, as it is one of the monetary tools that destroys the concept of the state of institutions and the separation of powers.”

He pointed out that “the government behavior led to a price chaos, which increased the inflation rates in a way that became out of control,

indicating that the lack of vision and planning and the striking of the five-year plan to the wall and the adoption of cosmetic reforms based on unrealistic prescriptions damaged the Iraqi economy and devalued the value of its currency and increased inflation rates and did not achieve any.” Development goal. ”

He continued: “The lack of vision and planning, striking the five-year plan beyond the wall, and taking cosmetic reforms based on unrealistic prescriptions that have damaged the Iraqi economy, devalued its currency, increased inflation rates, and did not achieve any development goal.” / End 8

The Dollar’s Price Continues To Rise In The Domestic Market

Time: 04/21/2021 10:33:53 Read: 5,655 times   {Baghdad: Al Furat News} The exchange rates of the dollar rose today, Wednesday, on the main stock exchange in the capital, Baghdad.

The central Al-Kifah and Al-Harithiyah Stock Exchange in Baghdad registered 148,100 Iraqi dinars for $ 100.

While the Central Kifah Stock Exchange recorded 147800 Iraqi dinars during its opening on Tuesday morning.

The buying and selling prices witnessed a rise in the exchange shops in the local markets in Baghdad, where the selling price reached 148,750 Iraqi dinars, while the purchase prices reached 147,750 dinars per 100 US dollars.   LINK

Experts: Iraq Needs Strategic Plans To Save The Economy

Wednesday April 21, 2021   86  Baghdad: Shukran Al-Fatlawi   The expert, Dr. Abd Al-Rahim Al-Shaddud, “Diversifying public revenue sources and activating the role of other economic sectors is necessary, to contribute to increasing federal public revenues and to avoid the deficit, which usually dominates the state budget by increasing expenditures over revenues, as a result of relying on oil revenues.”

“The importance of activating other sectors in order to prevent disruption of the economic structure due to the dominance of the oil sector over all commodity sectors, whether in terms of its revenues that constitute more than 90 percent of the proceeds of exports or through the power of Work in this sector.

The principal funder

He pointed out, “The need to get rid of this hegemony being the main or only source of financing development programs and government investment spending throughout the decades following the fifties of the last century. He is also the main financier of the state’s general budget, as other sectors constitute only a small percentage of the gross domestic product.” .

For his part, expert in affairs and economics, Dr. Hamid Al-Kafa’i, stated that “the country has become dire in need of investing the country’s natural and human resources in the form by adopting strategic plans that save the country economically, pointing out that the state cannot proceed towards the future without immediately initiating the provision of facilities, incentives and guarantees.” For investors to start the science of sustainable development. ”

He stressed “the possibility of transforming into an industrial country that produces various natural and manufactured devices and materials, and providing health and educational services as soon as the process of revitalizing investment begins, similar to neighboring countries and the world.”

Increase the budget

He added, “The country has a distinctive location that can be active in tourism, which provides the state’s budget with large resources, due to the available archaeological and religious sites, a diverse geographical environment, and large Iraqi competencies that can undertake the development and construction of the country if the elements for the advancement of professional institutions and an effective legal environment are available.” “.

Investment activation

Al-Kafa’i stressed “activating the investment law, reforming the devastation that occurred during the past four decades, limiting the waste of money, and reforming the educational and educational system, to ensure generations aware of the importance of the role of the economy and the development of production,” noting that “the country has not had a real economy since the mid-seventies.”

When oil revenues doubled and became generating billions of dollars for the treasury, and the government enabled the employment of graduates and the unemployed, and linked them all to the government, many people took jobs that did not perform fruitful work.   LINK

Address The Rise In Prices

Wednesday April 21, 2021   119  Mustafa Muhammad Ibrahim   Whoever observes the reality of the local markets indicates the existence of an increase in the prices of foodstuffs by some traders at rates that exceeded the rates of devaluation, in the absence of control, especially since most of the foodstuffs available in the markets are imported and not produced locally as a result of dependence on imports, corresponding to the presence of support from the Ministry Agriculture for the production of some products, which began to be marketed in the Iraqi market, such as eggs, chicken and tomatoes, but most of the foodstuffs are imported.

When looking at the prices of foodstuffs, we find that the imported product is less expensive than the local product due to the high costs of labor in Iraq, as well as the high prices of raw materials when purchased by the farmer and the lack of significant support for the farmer, which makes the farmer stop farming and head towards other jobs. Whether it is military or Civil.

The price is the amount offered by the seller to the consumer to convince him to buy or not, and the prices fluctuate from one commodity to another as a result of the change in the production and type of the commodity, and that the increase in food prices this year is a result of the change in the exchange rate, which led to a decrease in the demand for the imported commodity and an increase in the demand for the commodity While the prices of imported foodstuffs continued to be cheaper than local foodstuffs for the above reasons, which pushes the latter consumers to buy the imported commodity.

One of the most important treatments for high food prices in the Iraqi market is to truly support the farmer and simplify procedures, whether in granting advances and loans or purchasing raw materials to grow the product, as well as employing Iraqi manpower and dispensing with foreign workers with real controls for the wages of Iraqi workers commensurate with the standard of living In all Iraqi provinces.

And put strict and effective control over suppliers and brands to prevent price hikes. Real controls or procedures should be put in place in regulating Iraqi markets, in terms of the type and size of the material, and activating the principle of Made in Iraq that enlightens the citizen, as well as activating advertisements, television advertisements, social media sites and in the newspaper. And magazines for Iraqi products, and the best proof of that is Iraqi dates in Basra, and companies that produce the finest dates  Globalism.  LINK

Al-Kazemi To The Investment Commission: I Warn You Against Being Lenient With These, And I Will Hold Accountable Any Negligence

Time: 04/21/2021 16:19:14 Read: 1,040 times   {Economist: Al Furat News} Prime Minister Mustafa Al-Kazemi warned the National Investment Commission against “leniency with the corrupt.”

Al-Kazemi said during his visit to the commission and to be acquainted with its departments, the course of its work and the obstacles facing the work, that “the investment commission has a great role in the process of reconstructing the country, and therefore it must be corrected and repaired from the previous mistakes, and there is a defect in the country’s infrastructure and a wrong foundation and this chaos must be worked to end according to Sustainable plans and strategies. ”

He added, “A large number of projects have been transferred to investment during the past years, but unfortunately most of them are either lagging or illusory projects, and there are thousands of dunams that have been acquired for several years without providing any progress or progress in the projects.”

He stressed, “Coordination must be made between the authority and the other ministries concerned with investment to expedite the completion of investment projects.”

Al-Kazemi stated that “the National Investment Commission and the authorities in the governorates are required to take the necessary measures immediately to cancel the licenses for projects that recorded a percentage (0 to 35%) and the time period available for the implementation of the project has expired,” calling on the commission to take similar measures for projects with very low completion rates. For the period of time, the state’s rights must be fulfilled and its losses from the owners of these projects must be fully compensated. ”

He said, “I personally follow the investment file and I will be held accountable according to the law, for any failure to fix the wrong situation inherited from the past, and we are working very hard to launch a comprehensive investment campaign in which Iraqi and foreign investors participate.”

He indicated that “Iraq is a great country and has great talents, and we must work hard to take advantage of them and encourage investors to work on strategic projects in the country,” noting that “investment provides a better life for Iraqis, and reduces pressure on the government in the field of recruitment, as it will provide many opportunities for the unemployed.” “.

Al-Kazemi added, “Iraq is a golden opportunity for investment, but unfortunately, bureaucratic procedures and corruption are among the reasons that impede investment, and we are working hard to address them.”

And he went on to say, “Just as we started a campaign against corruption, we must start a major investment campaign, so our country and our people deserve.”

The Prime Minister warned the Investment Commission “against being lenient with the corrupt or violators or what harms the national interest of the country, and I support you,” explaining that “the decisions we have taken today regarding the lagging and unfinished projects and the withdrawal of licenses will be attacked by the corrupt, but we are going through with them and they are part of our reform project.” “.

The Prime Minister, Mustafa Al-Kazemi, during his visit to the Investment Authority, directed the following:

1- Cancellation of all licenses for investment projects whose completion rate ranges between (0-35%) and the time period available for project implementation has expired, and the number of projects to which this applies is 1,128 projects.

2- Full commitment to implement the provisions of Article 28 of the Investment Law by sending warnings to incomplete projects, and the National Investment Commission shall supervise and follow up the implementation of procedures.

3- The licenses are withdrawn in the event that the investor does not adhere to the completion period.  LINK

The Minister Of Planning Reveals The Percentage Of Employees In The State: Iraq Has Made An International Commitment To Reduce Its Births

Time: 04/21/2021 01:15:01 Read: 10,959 times   {Economical: Al Furat News} The Minister of Planning, Khaled Battal Al-Najm, revealed the percentage of employees in the Iraqi state.

Al-Najm said in a press statement, “10% of the population of Iraq are employed,” stressing that “the situation in Iraq does not tolerate more employment and it is not possible to provide government jobs that absorb the population increase.”

He indicated that “420 thousand students graduate from high school this year, and the population of Iraq is increasing at a rate of one million people annually,” noting that “the concept of employment in Iraq differs from all the world and the employee’s salary must be based on competence and skill.”

“The culture of employment must change,” he stressed, pointing out that “350,000 workers in the private sector should be included in the Social Security Law.”

Al-Najm pointed out that “one million foreign workers in Iraq are working illegally, and so far we have entered more than two million and 300 thousand employees within the job number system for state employees.”

He pointed out that “the job number system will work to reduce the phenomenon of aliens, and we will begin to apply the new employee number system to the education directorates in Baghdad,” noting that “double salary detection is the most important point of the job number system,” indicating that “the number of aliens in the state is not huge.”

He stressed that “the issue of the lecturers was resolved in the Ministry of Education,” revealing that “Iraq was on the verge of economic collapse last August.”

And the Minister of Planning added, “The average annual per capita income ranges between 5-6 thousand dollars, and Iraq is a medium-rich country, and oil is without value without its investment, and the Iraqi industry must be liberalized and the state does not have the capabilities to promote industry,” stressing that “addressing the electricity crisis is achieved through privatization.”

Al-Najm stressed, “The ministries of commerce and industry should be merged into one ministry, and the ministries of planning and finance should be rearranged with the Ministry of Economy,” indicating that

He pointed out that “most of the provinces complain about the displacement of the population to their centers and the central administration of the state, it has become a thing of the past and granting powers to the conservatives opens the door to the interference of political blocs.”

He concluded his speech by saying that “Iraq has made a commitment to the international community to reduce births and deaths,” noting that “the Ministry of Planning provides 50% of its work.”  LINK

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