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Parliamentary Finance confirms the need for Iraq to borrow again

Money  and business  Economy News Baghdad On Friday, a member of the Parliamentary Finance Committee, Muhammad al-Shabki, stressed Iraq’s need again for internal and external loans within the 2021 budget.

Al-Shabaki said in a press interview, that “the estimation of internal and external loans in the 2021 budget was carried out after studies were conducted by the Ministries of Planning and Finance,” noting that “it was agreed that Iraq needs these loans after I met objections within the House of Representatives from some of the blocs that had them.” A vision related to Iraq not needing these loans. ”

“Oil prices are still fluctuating, and it is not possible to build loans based on these prices,” Al-Shibki added, pointing out that “the coming days and weeks may witness a decline in oil prices.”

The Parliamentary Finance Committee had previously revealed the volume of internal and external borrowing in the 2021 budget.  Number of observations 125 Date added 05/07/2021

Iraq Intends To Recover 600 Million Euros Of Funds Frozen In Italy

Money  and business  Economy News – Baghdad  A spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, announced that it will recover 600 million euros of Iraqi funds frozen in Italy.

Al-Sahaf said in a statement seen by “Al-Eqtisad News”, that “work is underway to recover the Iraqi funds frozen in Italy since the time of the former regime, which amount to about 600 million euros.”

Al-Sahhaf added, “We are working on diversifying Iraq’s economic partnerships, and acquiring international support for investment, in confirmation of the great opportunities we have in various sectors.”

It is noteworthy that Foreign Minister Fuad Hussein met in the Italian capital, Rome, a group of official economic institutions concerned with foreign trade and Italian companies, in an economic meeting sponsored by the Iraqi embassy in Rome.   Number of observations 3 Date of addition 05/07/2021

The International Islamic Bank Launches A New Service

Banks  Economy News – Baghdad   The Islamic International Bank has launched a new service, which is the opening of a bank account via the Internet.

The bank said in a press release, seen by “Al-Eqtisad News”, that “The Islamic International Bank launched the service of opening a bank account ONLINE through the bank’s website, in implementation of the principle of financial inclusion and to provide excellent services to customers that achieve speed, accuracy and safety and to deliver this service to the farthest point.” .    Number of observations 17 Date added 05/07/2021

The Minister Of Planning Reassures The Employees … And Announces: The Benefit Of Raising The Dollar Is More Than Its Harm

Time: 05/07/2021 1:56:43 Read: 10,751 times  {Economist: Al Furat News} The Minister of Planning, Khaled Battal Al-Najm, assured employees that they would secure their salaries by the end of this year.

Al-Najm said in a televised statement: “The government of Prime Minister Mustafa Al-Kazemi came to solve a problem in three files: {the elections – reforming the economy and facing the pandemic – and the security file}, indicating that” the government provided all the requirements of the electoral process. ”

He emphasized, “Salaries are fully secured for this year, and we have succeeded in restoring the true role of the Ministry of Planning, which is to draw a sound economic policy for the country.”

He pointed out, “We have about 2000 suspended projects out of 6 thousand projects, and the coming period will witness the return of many of the stalled projects to work.”

Al-Najm pointed out that “the 4 trillion dinars in regional development allocations will be allocated to the completion of ongoing projects, and this is a great success for the Ministry of Planning,” stressing that “the stalled projects are costing us great damage.”

The Minister of Planning said, “The change of the exchange rate of the dollar represents a response to the economic reality, and economic competition requires such a measure,” adding, “The economic benefit of changing the exchange rate is more than its harm.”

“Within two years, we will overcome the crisis, and we will have a national product that is able to compete with the importer,” he said.

Al-Najm explained that “the government dealt wisely with the security file,” stressing that “the stability of the situation in Iraq under complex circumstances represents an important success for the government and running the economic rudder in light of a complex crisis is a success for the government.”

He believed that “the government succeeded in confronting the pandemic by exceeding expectations,” noting that “we did not find anything condemning the Minister of Health in the accident (fire) of Ibn al-Khatib Hospital, and the Ministerial Committee did justice to the minister.  LINK

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