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More Iraqi News Wednesday PM 4-28-21

TLM724 Administrator BondLady’s Corner

Chinese Companies Prepare To Build 1000 Schools In Iraq

Economy   Wednesday 28 April 2021 | 11:12 a.m.| Views: 68  The General Secretariat of the Council of Ministers announced, on Wednesday, that Iraq is ready to start the first phase of the national project for building schools, indicating that it is awaiting bids and offers for building these schools from Chinese companies .

A spokesman for the Municipality, Haider Majeed, said, “The national project for building schools includes establishing 7,000 schools throughout the governorates of Iraq,” indicating that “the first phase of it will witness the implementation of a thousand schools .”

Majeed added, “The National Center for Engineering Consulting is developing the designs for these schools, of which three designs have been chosen to build schools in accordance with modern and international specifications.” To be built upon ”.

He stressed that “the General Secretariat has approached the Supreme Committee on the project, which in turn addressed the People’s Republic of China through the Ministry of Foreign Affairs and its embassy in Iraq to approach companies.” .

Integrity Apprehends An Officer, A Commissioner, And A Customs Broker At The Port Of Umm Qasr

Political| 04:07 – 04/28/2021   BAGHDAD – Mawazine News   , the Integrity Commission announced, on Wednesday, that an officer, commissioner and customs broker had taken out prohibited containers at Umm Qasr port, in Basra Governorate.

The authority stated, in a statement that Mawazine News received a copy of, that “a working team from the Authority’s Investigation Directorate in Basra Governorate was able to arrest an officer and a commissioner at Umm Qasr port for taking out prohibited containers without registering them in the records of the border crossings and without showing the customs transactions made by the broker. , Confirming controlling the money transactions related to these smuggled containers and other containers.

It indicated that “the team was also able to control the customs clearance agent, who tried to conceal other traffic transactions. However, the team’s procedures and the tight seizure process led to reaching the clearance’s car and finding those transactions, while the customs clearance confessed that the containers were taken out of the port, and that some of them contain On motorcycles.

They pointed to “organizing a fundamentalist seizure report in the process, and presenting it with the accused and the seized persons to the competent investigating judge, who decided to arrest the accused pending investigation.” Ended 6/29 N

Oil Prices Stabilize After OPEC + Agreed To Increase Production

Economie| 09:00 – 04/28/2021   Follow-up – Mawazine News   Oil prices witnessed, on Wednesday, relatively stable after OPEC + confirmed that it will go ahead with plans to add more barrels to the market.

And settled West Texas Intermediate crude for delivery next June at 62.91 dollars a barrel.

Brent crude fell for the month of June by 3 cents at $ 65.82 a barrel.

Meanwhile, the American Petroleum Institute reported that US crude inventories increased by 4.32 million barrels last week, amid a decrease in gasoline inventories.

The OPEC + committee agreed that the alliance should press ahead with the road map to increase supplies over the next three months, as the alliance raised its estimate for demand growth this year. Ended 29 / p4

The Iraqi Stock Exchange Closed In Decline In Wednesday’s Trading Session

Economie| 04:47 – 04/28/2021    BAGHDAD – Mawazine News   The Iraq Stock Exchange announced, on Wednesday, that the stock market price index closed down by 0.24 percent.

The market said in a report, seen by (Mawazine News), that “the number of companies traded during the day reached 30 companies out of 103 companies listed in the market,” indicating that the shares of 6 companies rose during the session and 10 others declined.

He added, “The number of traded shares reached 817 million and 562 thousand shares, with a financial value of 879 million and 197 thousand dinars,” noting that “the ISX60 traded price index closed at 591.78 points, a decrease of 0.24% from its closing in the previous session.”

He stated, “Shares purchased from non-Iraqi investors amounted to 11,000 shares, with a financial value of 902,000 dinars, through executing two deals on the shares of one company, while the shares sold by non-Iraqis in the market reached 24 million shares, with a financial value of 13 million dinars through the implementation of 15 deals on shares of 4 companies. ”

The report continued, “The most profitable companies were carpets and furnishings, with a change of 9.33%, followed by the United Bank, with a change of 6.25%, while the most losing companies was the construction Khazir road with a change of -19.61%, followed by the National Bank, with a change rate of -4.76%.” .

He pointed out that the most active companies in terms of traded shares were the Bank of Asia of Iraq, followed by the United Bank, while the most active companies in terms of value traded was the Bank of Asia of Iraq, followed by agricultural products. Ended 6/29 n

Restructuring Budget Revenues Depends On Stimulating The Productive Sectors

Samir al-Nusiri  in light of the current circumstance and in the midst of the popular movement, economic and financial crises, and the challenges of falling oil prices and their instability And the repercussions of the Corona pandemic that our beloved country is going through.

That the Iraqi economy, through study, analysis, capabilities, and available factors, is able to overcome imbalances, deviations, and poor performance in the economic structure and achieve balanced and varied economic and structural reforms of the economy, with the premise of exceeding the objective and subjective economic conditions in the country.

and that. Motivating, encouraging and supporting the private sector in accordance with the vision of the private sector development strategy (2014-2030), which is based on the provisions of Article 25 of the Constitution, which states (the development of a vibrant and prosperous national private sector that is locally initiated, regionally competitive and globally integrated with the aim of achieving economic diversity, sustainable development and job creation) The necessary and appropriate step.

And the necessity to leave the rentier economy based on 93% of oil revenues and to develop other vital economic sectors, agricultural, industrial, and tourism through, restructuring state-owned industries and a gradual shift towards the private sector, and encouraging partnerships with local and foreign investors as well as reviewing the legislative environment for the work. Industry and the provision of infrastructure to secure the requirements of the work environment, and the expansion of the establishment of industrial zones.

Also, the promotion of agricultural production and livestock, the provision of effective supplies and treatments for fields and farms, maintenance of irrigation and drainage projects, support for agricultural products prepared for export, improvement of the quality of seeds and the state guarantee of prices, As well as providing support to small and medium enterprises and granting soft loans, ensuring the availability of the elements of resilience and economic advancement.

With my assertion that the country’s suffering from its stifling economic and financial crises for the above reasons has not gone through it since the 1990s and the imposition of the economic blockade at that time resulting from the lack of sincere and real intentions for economic reform, loss of methodology and structural defects in the economy as well as mismanagement of public money And the failure to approve the general budget for the year 2o2o and the delay in approving the 2021 budget, not to mention the disposal of the country’s money without rational economic and financial planning.

He pointed out that the reports issued by the World Bank, the latest of which are the latest report on the advancement of the Iraqi economy from fragility, indicate that Iraq and some oil-producing countries will suffer from the oil rent and the fluctuation of its prices, down and up, which will fail all the countries’ development plans for the coming years without taking the initiative to Development of its other resources and diversification of revenue sources.

And since the country has the elements of resilience and economic advancement, which is represented by the fact that it has the fourth oil reserves in the world in addition to a workforce estimated at more than 10 million people capable of work, and experts in economics and money possessing academic and executive experiences, it can overcome the crisis and exit well, by providing A suitable work environment and an encouraging investment climate to attract private capital and contribute to economic development. And stimulating the productive sectors in agriculture, industry and tourism, and reviewing the structure and presentation of the general budget.

Here it is necessary to refer to the shortcomings of the legislative environment for managing the economy and the laws that regulate economic work, which calls for reconsideration and making fundamental adjustments for all of them in line with the new situation of managing the economy., To reduce unemployment that rose to more than 30 percent and the poverty rate that exceeded 30 percent, which are negative indicators indicating the worsening of the Iraqi economy crisis. Number of observations 191 Date of addition 04/25/2021

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