Wednesday Evening Iraq Economic News Highlights 9-28-22
Saleh: Iraq Looks Forward To The Support Of The International Community In The Field Of Strengthening And Developing Its Economy
Posted On2022-09-27 By Sotaliraq President of the Republic, Barham Salih, affirmed, today, Tuesday, that Iraq is looking forward to carrying out the necessary reforms and supporting investment and the private sector
A statement by the Presidency of the Republic stated that “Saleh received the President of the Iraqi-British Business Council, Baroness Emma Nicholson, and during the meeting, they discussed the joint Iraqi-British relations and their strengthening in various fields, especially in the sectors of economy and trade, and supporting investment opportunities in Iraq and contributing to reconstruction and infrastructure projects.” .
Salih said that “Iraq looks forward to the support of friends and the international community in the field of strengthening and developing the Iraqi economy and its advancement and support for national economic plans to meet the benefits related to construction, reconstruction and development, and to carry out the necessary reforms and support investment and the private sector.” LINK
Advanced Completion Rates For A Vital Project In Anbar
Posted On2022-09-28 By Sotaliraq Yesterday, Tuesday, the Ministry of Construction, Housing and Public Municipalities announced the completion of 91% of the Al-Baghdadi Water Project in Anbar.
And the ministry’s media center said in a statement received by (Al-Mada), that “the ministry has completed 91% of the work of the Al-Baghdadi Water Project in Anbar Governorate, with a capacity of 3000 m3 / hour.”
The statement added, “The project will contribute to the provision of drinking water in the areas of Al-Baghdadi and the surrounding villages within the projects of the ministry’s investment plan.
He pointed out that “the current works include extending the transmission lines in the Jubbah and Dulab area, and the implementation of 12 km out of 22 km of the project’s conveying line.”
The statement went on, “The works also include the installation of push and pull pumps on the Euphrates River and the completion of the remaining finishing works for all the buildings of the project, as well as initiating the process of filling the three sedimentation basins / with a capacity of 1000 m3 / hour for each basin in preparation for the technical examination process for it.”
The Governor of Anbar, Ali Farhan, had previously spoken about the details of the province’s plan for the reconstruction of western roads, while specifying the percentage of completion of the industrial zone.
Farhan said, “What is happening regarding the reconstruction of Anbar is a great development for the country,” noting that “Anbar differed from other provinces because of the vision that was set for the province and proper planning.”
He added, “One of the most prominent projects in the governorate is the industrial zone, which is called the customs zones or the free zone,” noting that “the completion rate of the industrial zone in the governorate has reached 70%.”
Concerning the rehabilitation projects of the governorate’s roads, Farhan said, “The projects to rehabilitate western roads are carried out in the form of sections, as the distance of 160 km has been transformed into 20 sections, in addition to the fact that the road from Haditha to Anah has also been transformed into 20 sections, and therefore there are more From 40 companies rehabilitating the 300 km international road,” noting that “the projects are going according to what was planned and according to a timetable.” LINK
An Iraqi Company Gets The Title Of The Best Company In The Field Of Business Development And Public Relations
Money and business The global market research platform Clutch, based in the US capital, Washington, announced its annual list of the best Iraqi companies for the year 2022 in the field of business development and services. Al-Murshed Company won the first place and the title of leader of the Iraqi market in the fields of (public relations, digital marketing, market research, business development consultancy).
Al Murshid Company won the Clutch Leader Awards and ranked first in the list of the best Iraqi companies for the second time, as the company maintained its first rank, which it had obtained in the year 2021.
For his part, Morgan Flores, General Manager of Performance Marketing at the Clutch platform, said in an official statement published by the platform’s website, “This award is important for the Iraqi market, as it comes in conjunction with the Iraqi government’s direction towards improving digital services,” adding, “According to the new memorandum of understanding signed with the General Secretariat of the Iraqi Council of Ministers.” UNDP is helping Iraq improve its digital services and expand its e-government and digital economy.”
Today, the Clutch Leader Awards celebrate the contributions and work of leading companies in the field of service provision, support and business development in Iraq. The companies selected met Clutch’s rigorous selection methodology and were evaluated based on the following five factors:
- Services provided.
- Previous clients.
- Case studies.
- Awards received.
- Presence on social media.
On the performance of Iraqi companies, Taylor Morgan, Director of Customer Success at Clutch commented, “Challenges are not obstacles, they are opportunities to make an impact. Iraq’s leading B2B companies have proven that they can seize any moment and deliver.” Congratulations! We can’t wait to see what awaits you all! ”
For his part, the founder and CEO of Al-Murshed Company, Anas Murshid, said that all the Iraqi companies that won this award deserved it because they accomplished it wonderfully and that this result makes all the hard working hours and hard work worth it.
Al Murshid is an alliance of independent experts and innovative companies that provide creative solutions in the fields of (PR, GR, media, market research and public policy). Operating in Iraq with more than ten years of productive experience in the Iraqi market, privately owned companies (family businesses), international and multinational companies, major government agencies, SMEs and NGOs.
It is noteworthy that the World Bank had expected that Iraq would witness the highest economic growth among the Arab countries during 2022, at 7.3 percent, up from 2.6 percent in 2021, after this growth decreased to -15.7 percent in the year 2020, and it is also expected that economic growth will remain In Iraq, it was higher than the rest of the Arab countries for the year 2023, despite its decline to reach 6.3 percent. 22 . views Added 09/28/2022 – 11:13 AM Update 09/28/2022 – 12:45 PM
https://economy-news.net/content.php?id=29940
11 Independent Deputies Refuse To Attend The Parliament Session To Vote On Al-Halbousi’s Resignation
Erbil (Kurdistan 24) – Eleven independent deputies abstained from attending the Iraqi parliament session scheduled to be held today, Wednesday, to vote on the resignation of Parliament Speaker Muhammad al-Halbousi.
The deputies said in a statement to them: “We announce to our honorable people our refusal to attend the parliament session on Wednesday, and our rejection of the consensus and quotas approach, and we will not be part of the current conflict.”
The parliament’s decision to refuse to attend the session came, according to the statement, “to give the opportunity to form a strong independent government far from leading the country to safety and initiating real change.”
Al-Halbousi confirms that the decision to resign from the presidency of the parliament “was intrigued by the new parliament,” noting that “he did not discuss the decision with the leaders of the political blocs.”
LINK
Saleh Discusses Infrastructure Projects In Iraq With The President Of The Iraqi-British Business Council
Reconstruction and building Economy News-Baghdad The President of the Republic, Barham Salih, discussed, on Tuesday, with the President of the Iraqi-British Business Council, Baroness Emma Nicholson, reconstruction and infrastructure projects.
The media office of the President of the Republic said in a statement, “During the meeting, they discussed the joint Iraqi-British relations and their strengthening in various fields, especially in the sectors of economy and trade, and supporting investment opportunities in Iraq and contributing to reconstruction and infrastructure projects.”
The President of the Republic stressed that “Iraq looks forward to the support of friends and the international community in the field of strengthening and developing the Iraqi economy and its advancement and support for national economic plans to meet the entitlements related to construction, reconstruction and development, and to carry out the necessary reforms and support investment and the private sector.” 50 . views Added 09/27/2022 – 4:38 PM Update 09/28/2022 – 9:07 AM
https://economy-news.net/content.php?id=29929
The Speaker Of The Iraqi Parliament Warns Against Stopping The Salaries Of Employees..And Experts Are Skeptical
Zaid Salem September 28, 20 Questions about the fate of salaries (Getty)
The statement of the Speaker of the Iraqi Parliament, Muhammad al-Halbousi, about the government’s inability to pay the salaries of employees after the end of this year, raised a wave of surprise and fear among employees who are already suffering from economic problems as a result of high prices and the devaluation of the Iraqi dinar.
Al-Halbousi said, during his participation in a conference organized by the “Al-Rafidain Center for Dialogue”, a local organization, that “it is not possible to continue spending without the budget next year, due to the lack of a legal outlet, which was approved by the Financial Management Law ,” stressing that “the government will not be able to from disbursing the salaries of employees, except through a deliberate violation.
Iraq has 11 million people who receive monthly salaries from the state, according to the former Deputy Speaker of Parliament, Hakim al-Zamili, who confirmed in a previous statement, “These Iraqis are distributed among employees, retirees and other segments, and that there is an increasing number of job seekers annually by about 300,000 people from Graduates of universities and institutes in all cities of the country are all looking for work.
However, a member of the Finance Committee in the Iraqi parliament, Jamal Cougar, pointed out that “oil prices fell a while ago to below $40 and the salaries of employees were not affected,” wondering, “Why are there fears because of the price drop to $80 a barrel?”
He explained in a press statement carried by the official Iraqi newspaper “Al-Sabah” today, Wednesday, that “the employees’ salaries are fully secured and acted according to the 1/12 principle, in the event that the budget is not approved,” describing “expectations of the country’s collapse due to the failure to form the government unrealistic and considered unacceptable.”
Arab Economy The Central Bank Of Iraq Reveals The Country’s Financial Policy: No Change To The Exchange Rate
He continued, “The Food Security Law held the government responsible for providing employment contract for a period of three years, and it is the responsibility of the ministries of finance and planning to prepare the instructions for the law,” noting that “Parliament legislated this law and it was not challenged by the Federal Court, which means that there is a possibility to legislate Other similar laws.
For his part, the economist and professor of economics at the University of Basra, Nabil Al-Marsoumi, stated that “the salaries of employees and retirees are insured even if the price of a barrel of oil drops to $50, as a member of the Parliamentary Finance Committee says, and he explains that the same prices have fallen in 2020 to about $38 a barrel. The salaries were not cut off.
He added in a blog post, “This is a very accurate statement, but the price was to raise the exchange rate of the dollar against the dinar by 23%, and the employees lost a quarter of their real salaries, while the poor lost a large part of their purchasing power as a result of the rise in commodity prices.”
And he continued, “The price was also an increase in the internal debt in Iraq by 30 trillion dinars to reach 68 trillion dinars,” he continued by saying: “Do not worry as long as there is a balance in the Central Bank of Iraq of up to 85 billion dollars, it is possible to borrow from it, even indirectly to pay off Salaries, even if the internal debt exceeds the 100 trillion dinars barrier, and if it is not enough, it is possible to raise the exchange rate of the dollar against the dinar again.” LINK
