Iraqi News Saturday Afternoon 12-3-22
Tlm724 Administrator Bondlady’s Corner
In A Week, The Central Bank’s Sales Exceeded $700 Million
Economie Saturday, December 3, 2022 Follow-up / National News Center The Central Bank of Iraq’s sales in the hard currency auction for dollars during the past week amounted to more than 700 million US dollars.
Where the Central Bank sold during the past week for the five days in which the auction was opened, starting from Sunday to Thursday, the amount of 715 million and 487 thousand and 645 dollars, at a daily rate of 143 million and 97 thousand and 529 dollars, up by 16.26% from the previous week.
And that the highest dollar sales during the past week were on Wednesday, when sales amounted to 167 million and 816 thousand dollars, while the lowest sales were on Tuesday, when sales amounted to 124 million and 991 thousand and 651 dollars.
It is noteworthy that most of these sales went in the form of transfers abroad to finance “foreign trade”, while the sale price of the dollar transferred to bank accounts abroad, in addition to cash sales, reached 1460 dinars per dollar. https://nnciraq.com/169234/
Central Bank: Foreign Exchange Reserves Increased To More Than 90 Billion Dollars
Friday 02 December 2022 21:43 | Economical Number of readings: 426 Baghdad / NINA / – The Central Bank announced today, Friday, that the cash reserves exceeded 160% of the value of the Iraqi dinar.
“The central bank’s reserves exceeded for the first time the threshold of 90 billion dollars, which is a very large number, and represents an indication of the recovery of the Iraqi economy, and a great support for the value of the Iraqi currency,” said the Central Bank’s advisor, Ihsan al-Yasiri, in a statement to the official agency.
He added: “The Iraqi currency is now witnessing a great rise and recovery, as it is one of the strong international currencies, although it is not an international currency for circulation.”
Al-Yasiri explained: “The government and the Ministry of Finance have an opportunity to support the fragile and poor groups and retirees with low salaries and those covered by social protection and retirees through these funds by allocating part of them within the 2023 budget.”/ End 3
https://ninanews.com/Website/News/Details?key=1017736
Integrity: Recruitment Of The Former Director General Of The General Authority For Taxes
Today, Saturday, the Federal Integrity Commission announced the issuance of an order to bring in the Director General of the General Tax Authority (formerly), indicating that the order came on the background of the charge of intentionally causing damage to the funds and interests of the entity in which he works.
And a statement by the authority stated that “the investigation department of the authority, while speaking about the case, reported that the investigation court specialized in integrity issues in Maysan issued a recruitment order against the director general of the General Authority for Taxes (formerly), as a result of the violations committed in the lease contract for the authority’s building – Maysan branch.” In the report of the Federal Office of Financial Supervision – Audit Department of the second region.
The department added, in a statement, that “the contract was in violation of the controls and instructions, due to the lack of financial allocation and cash liquidity, knowing that the amount of the rent amounted to (60) million dinars, and that the rent took place without the approval of the General Authority for Taxes, in addition to the small area of the building and its unsuitability as a headquarters for the authority’s branch.”
in the governorate, and the absence of regular inquiries and rest for auditors,” pointing to “the lack of safety and fire prevention conditions, and the presence of kiosks and shops adjacent to the building.”
And she explained that “the investigation court specialized in integrity issues in Maysan issued a recruitment order in accordance with the provisions of Article (340) of the amended Penal Code No. (111 of 1969).” https://www.radionawa.com/all-detail.aspx?jimare=32404
The Iraqi Business Council And The International Monetary Mission Discuss Economic Developments And Issue A Number Of Recommendations
Saturday 03 December 2022 09:18 | Economica lNumber of readings: 190 Baghdad / NINA / – The Iraqi Business Council in Amman discussed with the International Monetary Fund mission to Iraq, the most prominent local economic developments and expectations in Iraq, ways to develop the private sector and support the business environment.
During the meeting held at its headquarters in Amman, the Council presented many recommendations and proposals, centered on the need to address the issue of random employment, which is a burden on the Iraqi state budget, and to review the phenomenon of multiple salaries for employees.
According to a statement by the Council today, it was recommended that the Iraqi Financial Supervision Bureau supervise the work of all ministries, bodies and companies associated with them, and find long-term plans for the development of economic sectors and various infrastructures in Iraq, including the electricity sector.
The Council recommended the need to stabilize the exchange rate of the local Iraqi currency fluctuating between the central bank rate and the free market rate for exchange offices outside the central bank, opening qualified training centers for training and developing human resources, creating clear legislation for the energy sector, especially renewable energy, and setting up a correct mechanism for calculating tariffs and collection method.
The Council recommended activating the partnership between the private and public sectors and benefiting from the sustainable development programs for Iraq that were supported by international organizations, as those funds that were allocated to build a sustainable economy and implement the Iraqi private sector development strategy (2014 and 2030) were not employed within the time specified in the strategy to reach for true partnership between the two sectors.
It is noteworthy that the Iraqi Business Council in Amman was established in 2006, and it is a forum for businessmen to exchange views, ideas and business information, provide job opportunities through trade and social missions, and introduce existing investment opportunities in Jordan and Iraq./ End 9
https://ninanews.com/Website/News/Details?key=1017769
Economist: Canceling The Mobile Phone Tax Will Activate The Economic Movement..And It Is Better To Buy A Satellite For Iraq
Saturday 03 December 2022 11:01 | Economical Number of readings: 252 Baghdad / NINA / – The economist, Safwan Qusay, confirmed that the abolition of the mobile phone tax will reduce non-oil revenues by close to a trillion Iraqi dinars, but it will contribute to alleviating the burden of Iraqis and activate the economic movement in other sectors, while Qusay called for the purchase of one or more satellites that operate In favor of Iraq and stop draining Iraqi funds that go to non-Iraqi satellites.
Qusai said in a statement to the National Iraqi News Agency ( NINA ): “Stopping the sales tax on communication services in Iraq, amounting to 20% of its value, comes in line with the Sudanese government’s service program, which is trying to mitigate the effects of the high cost of life on Iraqi families, and in line with the approach followed.” To transform the Iraqi economy into a digital economy by rehabilitating the communications sector for its importance in this transformation.
He added, “Although this measure will reduce non-oil revenues by close to a trillion Iraqi dinars, it will contribute to alleviating the burden of Iraqis and stimulate the economic movement in other sectors.”
He stressed that “Iraq must direct investment in this sector through the purchase of one or more satellites that work for the benefit of Iraq and stop draining Iraqi funds that go to non-Iraqi satellites, and also contribute to preserving the confidentiality of Iraqi information.”
And he continued: “The Iraqis are also looking forward to obtaining high-quality services in the telecommunications sector and increasing revenues from the transit of electronic capacities through it, because it has the most important geographical location to cross these capacities between the countries of the region.”/ End 8 https://ninanews.com/Website/News/Details?key=1017806
Head Of The Legal Committee Of / Nina /: 120 Bills Awaiting Inclusion In Legislation
Saturday 03 December 2022 10:12 | political Number of readings: 340 Baghdad / NINA / – The head of the Parliamentary Legal Committee, Muhammad Anouz, revealed that there are 120 draft laws awaiting inclusion in the Parliament’s agenda for legislation.
Anouz said in a statement to the National Iraqi News Agency / NINA /: “The Presidency of the House of Representatives is the one that determines the laws on the agenda, as a political agreement is reached first on the draft law and then it is included on the agenda,” noting: “The draft laws sent by The government has priority in legislation now.”
And he stressed: “Any law included in the parliament’s agenda will be the content of the vote because there is a political agreement between the blocs on it,” pointing out: “The return of quotas and nepotism to legislative work in the committees and passing laws in one basket.”/
https://ninanews.com/Website/News/Details?Key=1017787
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