KTFA

  In KTFA 

Samson: The House of Representatives keeps its session going until tomorrow, Wednesday

01/12/2021

The House of Representatives announced that its session will continue until tomorrow, Wednesday, to complete the discussion of the federal budget law for 2021.

A representative source said, {for Euphrates News}, that “the House of Representatives decided to keep its session going until tomorrow, Wednesday, the third hour to complete the discussion of the draft Federal Budget Law of the Republic of Iraq for the fiscal year 2021.”   LINK

Godlover:  This is unprecedented! That in itself should say a lot!!!!!!!!!

Samson:  English-language version of White Paper on Iraqi Reforms

11th January 2021

The Iraqi government formally adopted its White Paper for Economic Reforms, prepared by the Crisis Cell for Financial and Fiscal Reform, in October 2020.

full English-language version of the paper can now be downloaded here.

LINK

************

Samson:  Parliamentary Finance: Approval of the budget law will contribute to solving the economic crisis

12th January, 2021

A member of the Finance Committee, Majed Al-Waeli, said that the solution to the economic crisis that Iraq is currently going through depends on the approval of the 2021 Budget Law as soon as possible

Al-Waeli added, in a statement reported by state television and seen by Al-Eqtisad News, that “returning the 2021 draft budget to the government is not a solution. Rather, the solution lies in holding continuous parliamentary sessions with the relevant authorities to pass the law as soon as possible

He pointed out that “the committee is working to compress operational expenditures in the budget to the maximum extent possible

A member of the Finance Committee also called for “stopping unjustified borrowings or directing them towards vital investment projects such as the Faw Grand Port project  LINK

************

Samson:  The Stock Exchange : Foreign investors accounted for 10% of 2020 trading

12th January, 2021

The Stock Exchange announced, Tuesday, that during the past year, foreign investors acquired 10% of its trading volume

The Executive Director of the Stock Exchange, Taha Ahmed Abdel Salam, said in an interview with “Al-Eqtisad News”, to be published later, that “the changes that the world witnessed during the year 2020 greatly affected the activity of the market and shareholders

Abdul Salam added that “some companies listed on the stock exchange invested the partial ban period in completing their requirements related to the quarterly and annual reports,” noting that “the stock exchange includes companies from various agricultural, industrial, banking and other sectors

He revealed that “17% of the shares deposited in the stock’s depository center belong to foreign investors,” indicating that “foreign investors acquired 10% of the transactions that took place during 2020, which is a very acceptable percentage for us

The CEO emphasized that the biggest challenge facing the Stock Exchange in 2021 is to develop instructions and regulations for trading to attract new investors and shareholders and encourage unlisted companies to list on the stock exchange.

He added, “We are working on amending the Companies Law, especially with regard to supporting small shareholders and strengthening their position in making critical decisions  LINK