Bondlady’s Corner Iraqi News Monday Afternoon

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More Iraqi News Monday Afternoon 7-18-22

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The Results Of The Foreign Currency Sale Window Tuesday 19/7 2022


Announcement No. (4685) Sale date – Tuesday 07/19-2022 the details the amount


Total sale for the purposes of strengthening balances abroad (remittances, credits) 225,823,449


Total cash sale   46,000,000    total total sales   271,823,449


Note that:  The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar.    The cash sale price is ( 1460 ) dinars per dollar.


The Central Bank of Iraq’s foreign currency sales schedule Tuesday 19/7 2022


Adviser To The Prime Minister: We Have A Vision To Unify Salaries And Return The Exchange Rate


Posted On 2022-07-18 By Sotaliraq   Baghdad: Omar Abdul Latif   The Prime Minister’s Adviser for Economic Affairs, Haitham al-Jubouri, presented an economic vision that is summed up in converting four ministries to a self-financing system, restoring the dollar exchange rate and unifying employee salaries.


Al-Jubouri said, “There is an economic vision for the next phase, some of which have been written. The most prominent of these ideas is the transformation of four ministries: transport, communications, interior and trade; From central to self-financing, and it can benefit from the revenues generated by it, through the large and discreet companies it owns or the revenues achieved through its work,” noting “the possibility of benefiting from the amounts allocated to it from the state treasury in establishing productive development projects.”


He added, “There is a vision in the exchange rate of the dollar, and restoring confidence and strength to the Iraqi dinar, provided that it is not by a decision, as happened in the decision to raise the exchange rate, but by real economic reforms and an increase in non-oil revenues with a plan that extends from one to four years, and increasing the volume of investments in the country by persuading Iraqi investors who invest their money abroad to return to Iraq through facilities provided to them and encouraging them to invest their money inside the country.”


Al-Jubouri indicated that “among the vision is the automation of government procedures, electronic connectivity, the amendment of instructions for implementing government contracts, and the issue of tax exemptions, with a focus on increasing the tax base through profitable companies or personalities,” expressing “regret that there is a focus on the simple citizen in the tax issue.”


While most companies evade the final accounts as they are fake. And the Prime Minister’s Adviser for Economic Affairs indicated, “the possibility of increasing customs revenues, which can achieve huge sums in the event that there is governance of the border crossings.”


He explained, “The necessity of activating the collection of electric energy that is prepared for citizens, shops and commercial institutions, as the ministry collects only 7 percent of the money. Without increasing the total amount for it, which will be among the interests of the next government, as it is not possible for an employee in a ministry to take 5 times as much as another employee with the same title, degree and certificate.”


He stressed, “Part of these ideas can be started through effective laws such as the Financial Management Law and the Electronic Signature Law, which needs speed in the procedures of its legislation.” He pointed out that “some people find it strange to implement some of this plan, but all of them are feasible and there is an integrated vision on this issue, if we know that it can be implemented in short, medium and long stages.”     LINK


Iraq Is In The Middle Of The Road To Joining The World Trade Organization


Today, Sunday, the International Trade Center clarified the importance of Iraq’s accession to the World Trade Organization, and while referring to the preparation of special documents on this, he stressed that Iraq is in the middle of the road to joining the World Organization.


The International Trade Coordinator at the Center, Israa Al-Jabari, told the Iraqi News Agency, “Iraq is in the stage of joining the World Trade Organization, as it submitted an application for accession in 2004 and was approved by the organization, and Iraq is currently an observer member of the organization.”


She pointed out that “the organization is global and contains 168 countries and has agreements, laws and special conditions for accession,” explaining that “any country that wishes to be a member of the organization must implement its laws, strategies and internal policies in accordance with the agreements of the World Trade Organization.”


She pointed out that “the International Trade Center is working to help Iraq to provide technical and technical support in harmonizing laws and agreements with regard to its accession to world trade, and there are important documents that are being worked on.”


She pointed out that “the main part of communicating with the organization in order to join is the Ministry of Commerce, which in turn presents the file, which includes all the relevant ministries in Iraq, in addition to the private sector,” stressing that “striving to work on preparing special documents for accession in accordance with the agreements of the Trade Organization.” “.


She added, “Iraq has industrial and agricultural qualifications and trade exchange, but it needs to work on studying and developing the applicable policies so that there is harmonization with the laws of the organization,” noting that “Iraq is currently in the middle of the road to join.”


She noted, “the importance of Iraq’s accession to the organization, as it deserves to be part of the international trade, industrial and economic community, especially since its accession will be part of this international community and can organize its economic and commercial policies, including trade exchange in accordance with international laws that serve it with all concerned parties.” dealing with it in the future.      LINK


Sako And The US Ambassador Discuss The Formation Of The Government


Patriarch Cardinal Louis Raphael Sako and the US ambassador to Iraq, Alina Romanowski, discussed today, Monday, three files, including the formation of the government.


The patriarchal media said in a statement that “His Beatitude Cardinal Louis Raphael Sako received today the US ambassador to Iraq, Alina Romanowsky and her accompanying delegation,” noting that “the meeting was attended by the patriarchal assistant, Archbishop Basilios Yaldo, and the patriarchal secretary, Ikhlas Abed Gerges Makdissi.”


He added, “Sako welcomed the visiting guest and wished her success in her diplomatic work for the good of Iraq in its sovereignty, security and stability,” noting that “the importance of politicians shouldering their national and moral responsibilities in creating a comfortable atmosphere that accelerates the formation of a government, able to meet people’s demands, and achieve Their hopes, and the accumulated crises are dealt with professionally and impartially, in addition to addressing religious freedom and the situation of Christians.”


For her part, Ambassador Romanowski “thanked the Patriarch for receiving her.”


Effective Contributions Of The Central Bank Of Iraq To Achieve Financial Sustainability And Economic Growth


Articles    Samir Al-Nusairi   Through the analysis of indicators and official financial data for the year 2021 and the first half of this year, “it becomes clear that the Central Bank of Iraq had an important role in supporting and stimulating the economy, revitalizing the economic cycle, saving the economy from collapse, achieving balance in the macro economy and achieving relative stability in the monetary system in challenging stages.” And the crises that Iraq suffered in 2014, 2020 and 2021 .


This is reflected in the recovery of the economy and its transition from an economy that shrank by 11% to achieving a rate of 2.8% in 2021, which was indicated by the latest World Bank report . realized from the increase in oil prices wisely and issued its budget for the mentioned year according to the indicators of economic recovery.


Certainly, this recovery was due to the Central Bank and its monetary policy applications and initiatives, which totaled 18 trillion dinars, which contributed to the establishment and operation of 11,000 small, medium and large projects and the operation of more than 40,000 unemployed people, and the amounts of support it provided to the government during crises in 2020 and 2021, amounting to 30 trillion dinars from Through the various monetary policy tools and by re-discounting the treasury transfers issued by the financial institution .


Through our follow-up to the procedures, policies, activities and initiatives of the Central Bank, and from the analysis of data and evaluative indicators for the specialized departments of the bank, and the implementation of the banking reform program specified in the second strategy of the Central Bank for the years 2021-2023 , we have confirmed the success of the Central Bank’s developmental, lending, financing and incentive steps,


which are a number of reform measures that were planned and put in place In place of implementation, which was accompanied by the decision to reduce the exchange rate of the dinar in order to alleviate the burdens that citizens with low incomes are expected to suffer and for the purpose of creating monetary balance in the trading market, which resulted in recovery, stability and relative growth in the economy .


In addition to facing the repercussions that can occur as a general situation facing countries that reduce the exchange rate of their local currency and investing in positive cases to strengthen the financial position of the government, reduce the budget deficit and overcome the causes of internal and external borrowing, in addition to protecting and supporting the local product and increasing external cash reserves, which reached the limits of 74 billion dollars And 130.39 tons of gold , thus Iraq ranked fourth in the Arab world and tenth globally.


This comes due to the safe investments adopted by the Central Central Bank, activating the real sector, reforming and developing the banking sector technically, as the number of active bank cards reached 15 million and 1566 ATMs and more than 14.7 A thousand points of financial payment, and thus the percentage of financial inclusion exceeds 25%.


Therefore, it requires the next new government and the House of Representatives to issue the 2022 budget, and that the fiscal policy be clear and specific goals to achieve financial sustainability, distribute the tasks of implementing its reform plan to the concerned ministries, activate the economic sectors, diversify sources of income, implement investment projects, achieve food and drug security for citizens, reduce unemployment and inflation, and achieve growth in gross domestic product .


Views 192   Added 07/18/2022 – 12:59 PM   Update 07/18/2022 – 5:43 PM



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