Bondlady’s Corner Thursday Afternoon

  In Bondlady’s Corner 

The Federal Government Sends 200 Billion Dinars To The Kurdistan Region

The Kurdistan Regional Government confirmed that the Corona virus has spread widely and quickly in the region, while indicating the imminent distribution of employee salaries after the arrival of financial allocations from Baghdad.

The spokesman for the regional government, Jutiar Adel, said in a press conference, that “a sum of 200 billion dinars has been sent from the federal government, and we hope that it will arrive tomorrow at the expense of the region,” noting that “the Ministry of Finance will start distributing salaries to employees after that.”

He added, “The regional government will provide facilities to citizens who have owed sums of money, such as advances (real estate, marriage, and agricultural), and these facilities will last for 90 days,” stressing that “the border crossings will be monitored and customs exemptions reviewed in coordination with the relevant Iraqi federal ministries.”

He continued, “One of the most important priorities of the Kurdistan government is the distribution of salaries on time without delay,” noting at the same time that “the distribution of white oil to citizens is continuing.”


He stressed “the need for citizens to adhere to the preventive instructions to confront Corona,” warning that “the Corona virus has spread widely and rapidly in Kurdistan.”


Al-Rafidain: More Than 61 Thousand Accounts Were Opened For Citizens To Deposit Their Money Last Year


Banks   Economy News _ Baghdad  Today, Thursday, Al-Rafidain Bank announced the outcome of the number of accounts opened for citizens in Baghdad and the governorates during the past year, which amounted to 61,298 savings and current accounts.


The media office of the bank said in a statement received by “Al-Iqtisad News”, that “the number of current accounts that were opened for citizens in the past year reached 9,247 current accounts in dinars and dollars,” noting that “the number of savings accounts for citizens amounted to 46,415 accounts in dinars and dollars, in addition to that The number of deposit accounts is 5636.


He added that “the bank continues to provide its services and open accounts for citizens in dinars, dollars and fixed deposits for those wishing to deposit their money in the bank and obtain interests according to the terms and controls established, and the bank’s customers can visit its branches in Baghdad and the provinces to see them.”   Views 205 Date Added 01/20/2022


Planning Reveals The Biggest Challenge Facing The Iraqi Economy


Economie| 09:28 – 20/01/2022   Baghdad – Mawazine News  The Iraqi Minister of Planning, Khaled Battal Al-Najm, said on Thursday that the biggest challenge facing the Iraqi economy is the transition towards a real private sector that depends on its capabilities in light of the country’s circumstances, calling on representatives of this sector to determine what is required of the government to take care of them.


In a statement received by Mawazine News, the minister affirmed, while presiding over the fourth session of the Private Sector Development Council, (which was held yesterday, Wednesday), that we are working very seriously in order to overcome all difficulties and challenges facing the transformation process and empower this vital sector, by identifying and diagnosing The problems and then the development of solutions and treatments required for them, indicating that one of the problems is the presence of an intersection in the relationship between the industrial and commercial sectors, and this calls for integration between them.


The minister pointed out that there is a great need for an effective development banking sector, capable of preparing the fertile investment ground for the private sector, and enabling it to implement government development policies, and therefore we need bold and courageous decisions that contribute to the development of the private sector, calling on the representatives of this sector to determine what is required of the government. In order to take care of this sector.


He explained that the Ministry of Planning is responsible for following up the procedures for developing the private sector, through a map of short-term procedures, and working to amend the investment law and laws that ensure meeting the requirements for establishing small and medium enterprises, as well as working on studying the possibility of using the spaces supported by government agencies in Business activities with small and medium companies.


The Minister of Planning explained that one of the paths to developing the private sector is setting a transitional plan for the sale and purchase of goods and services provided by public companies, with an assessment of the viability of these companies to continue or not, and categorizing them into successful, stumbling and failing, and activating restructuring procedures and transforming them into companies operating with commercial approaches. Concluding his speech by saying, work is underway to set standards for identifying infrastructure projects and large service projects, with the aim of implementing them through partnership between the public and private sectors.


Dollar Prices Recorded A Slight Decline In The Local Markets


Economie| 10:42 – 20/01/2022   Baghdad – Mawazine News  The dollar exchange rates recorded, Thursday, a slight decline in the main stock exchange and local markets in the capital, Baghdad.


The dollar exchange rate fell on the Central Kifah Stock Exchange in Baghdad today, recording 148,100 dinars, for each $100 bill.


The prices of buying and selling the dollar also decreased in banking shops and local markets in Baghdad, where the selling price reached 148,500 dinars for each denomination of 100 dollars, while the purchase prices amounted to 147,500 dinars for each denomination of 100 dollars. Ended


Central Bank Sales Of Hard Currency Increased


Economie| 01:54 – 20/01/2022  Baghdad – Mawazine News:  The Central Bank of hard currency sales, Thursday, recorded a remarkable increase of more than 217 million dollars.


And the Central Bank auction for the sale and purchase of foreign currencies witnessed an increase in its dollar sales by 0.46% to reach 217 million and 830 thousand and 263 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar.


Sales went to enhance balances abroad in the form of remittances and credits, which rose dramatically, reaching 194 million and 40 thousand and 263 dollars, while the remaining amount of 23 million and 790 thousand dollars went in cash.


This has been 30 banks to fulfill requests to enhance balances abroad, and 6 banks to meet cash requests, in addition to 97 mediation companies.


The Private Sector And The Equation To Move The Economy


Thursday 20 January 2022   124  Baghdad: Imad of the emirate  The local economic scene clearly shows the need to assist the private sector and include it as a partner in the process of financing sustainable development to achieve its goals, for the purpose of facing the challenges of accelerating the establishment of local development projects and investments therein.


Especially with the exacerbation of the state’s problems and the decline in its ability to finance sustainable development projects centrally, and to achieve its goals desired.


In this regard, the Dean of the College of Business at Al-Nahrain University, Dr. Nagham Hussein, said: {The private sector is an essential axis in the sustainable development process, whether in Iraq or developed countries, because of its features and capabilities that qualify it to play a leading role in the economic and social fields, which Keeping up with the global trend requires giving him more roles at the level the local}.


Hussein added in an interview with Al-Sabah, “The private sector’s relationship with the economic growth process has been subject to in-depth discussion within the framework of international cooperation, as most economic studies confirm the existence of a positive relationship between them, because productivity growth is closely related to private investments.”


She pointed out that {with the transformations that took place in economic policies in the last two decades of the last century towards the market, this reinforced the great dependence on the private sector in overall investments, on the one hand, and to increase the ratio of private investments to GDP on the other hand.}


Suitable Environment


The Dean of the College of Business continued: {This trend has boosted the increase in foreign investments in a number of countries, given the efficiency of the private sector in growth by more than one and a half times the impact of public investments, which is confirmed by the degree to which private sector investments are linked to sustainable development and economic growth in societies that enjoy the appropriate environment to contribute to the development process sustainable}.


Strategic Projects


In her turn, a member of the Administrative Board of the Iraqi Economists Association, Dr. Ikram Abdel Aziz, said: {The foreign investor needs a developed private sector and is able to enter into a partnership and agreement with it that guarantees upgrading the reality of the private sector through sectoral intertwining with companies. foreign }.


And Abdel Aziz indicated that {the state must implement strategic projects and the main episodes in the national economy, represented by control and supervision, and refer secondary episodes to the private sector, because strategic projects are outside the capabilities of the private sector, while the local private sector invests in other episodes with complete freedom, according to market data. and accounts for cost and profit and domestic and external demand}.


She stressed the necessity of {there should be a partnership and cooperation relationship between foreign direct investment companies and local private sector companies, and this situation is achieved through political and economic stability and providing administrative facilities for the entry of foreign investments and giving special privileges to that, as well as incentives to encourage investment in Iraq}.   LINK


Economist: Talking About Layoffs Is A Realistic Outcome Of The White Paper Submitted By The Government


Economie| 11:25 – 01/20/2022  Special – Mawazine News, an economic expert, Basem Jamil Antoine, confirmed today, Thursday, that the ministers’ statements about laying off employees are the result of the white paper presented by the government.


Antoine said in an interview with “Mawazine News”, “The permit to lay off employees is not new, but it is the result of the white paper adopted by the government, which recommends reducing expenditures, increasing revenues, and activating the role of the private sector.”


He added that the government should “enable the private sector to absorb the youth,” explaining that “each country with 4.5 million employees and 2.5 million retirees will inevitably face bankruptcy and squander its budget.” Ended 29/A4




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