TNT:
Tishwash: One trillion dinars monthly to pay the dues of companies and contractors
Prime Minister Ali Faleh al-Zubaidi revealed that approximately one trillion dinars per month has been allocated to pay the dues of businessmen, companies and contractors.
This came during his reception, yesterday, Saturday, of a number of businessmen, members of the board of directors and development of the private sector, members of the Iraqi Economic Council and a number of heads of boards of directors of private banks, in the presence of the Minister of Finance, the head of the Board of Advisors, the director of the office of the Prime Minister, and the head of the Higher Authority for Coordination between Governorates.
Al-Zaydi identified three criteria for preferring the private sector: “tax accounting,” “the size of the workforce and its inclusion in social security,” in addition to “the size of the social benefits contributed to.”
He emphasized that the government relies on cooperation with the private sector to ensure the success of its economic and development reform efforts, adding: “We have an upcoming official visit to the United States, and we will be accompanied by a number of business leaders to expand investment opportunities.” link
Tishwash: The Minister of Finance discusses with the World Bank technical support for budget preparation and strengthening reforms.
Finance Minister Faleh Sari met on Sunday with a World Bank delegation to discuss technical support for budget preparation and strengthening reforms.
A statement from the Ministry of Finance said that Sari received the World Bank delegation, headed by Regional Director Jean-Christophe Carré and Special Representative for Iraq Emmanuel Salinas, to discuss prospects for technical and institutional cooperation and support for Iraq’s financial and economic reform priorities. The statement
added that the meeting addressed mechanisms for cooperation with the World Bank in providing technical and advisory support for preparing the upcoming general budget, enhancing the efficiency of financial planning, considering spending priorities, and supporting fiscal sustainability in light of current economic changes.
The Minister affirmed that the Ministry of Finance is proceeding with financial reforms focused on developing financial management, enhancing non-oil revenues, and modernizing banking, tax, and customs systems, in line with the priorities of the government program.
He also noted the importance of leveraging international expertise and the technical support provided by the World Bank, particularly in the areas of institutional capacity building, financial policy development, and supporting development projects and investment incentives.
For its part, the World Bank delegation reiterated its support for the Iraqi government in implementing financial and economic reform programs and providing the necessary technical advice to contribute to strengthening financial stability and supporting the Sustainable Development Goals. link
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Tishwash: Al-Zaidi travels to Washington with businessmen and promises to inject $10 billion into the private sector.
Iraqi Prime Minister Ali Faleh al-Zaidi announced on Saturday an upcoming official visit to the United States, accompanied by businessmen, to expand mutual and joint investment opportunities, noting at the same time that the development fund is for the private sector and will absorb a contribution from the Central Bank worth $10 billion.
This came during Al-Zaydi’s reception of a number of businessmen, members of the board of directors and development of the private sector, members of the Iraqi Economic Council and a number of heads of boards of directors of private banks, in the presence of the Minister of Finance, the head of the Board of Advisors, the director of the office of the Prime Minister, and the head of the Higher Authority for Coordination between Governorates.
According to a statement from the Prime Minister’s Media Office, Al-Zaydi affirmed that the government relies on cooperation with the private sector to ensure the success of its reform efforts in the economy and development, and that it will adopt an open-door policy regarding the proposals, requests, and problems submitted by businessmen that require intervention and resolution.
Al-Zaydi stressed the fight against corruption and extortion, and called on all businessmen or companies not to be drawn into offering any sums of money to facilitate their work and obtain their rights, and that his door is open to any case of obstruction practiced by any element within the body of the state.
Al-Zaydi said that the private sector is a partner of the government, and we support its pivotal role in developing the economy. Our criteria for preferring the private sector are: “tax accountability,” “the size of the workforce and their inclusion in social security,” and “the size of the social benefits contributed to.”
He added: We have a project for one million residential plots, and we call on the private sector to contribute to its infrastructure. There must be a share for everyone who does not own a property, plot of land, or housing unit. We will cooperate with the private sector in preparing residential lands according to economic models that preserve the rights of the state and the citizen.
The Iraqi Prime Minister revealed an upcoming visit to Washington, saying: “We have an official visit coming up to the United States, and we will bring with us a number of businessmen to expand mutual and joint investment opportunities.”
Al-Zaydi pointed out that the development fund is for the private sector, and will absorb a contribution from the Central Bank worth $10 billion, and we will open subscription to contributions for all citizens, at the official value of the Iraqi dinar.
He explained that the profits of the Development Fund will be exempt from taxes, and will finance the establishment of new factories with new products needed by the Iraqi market. We have prepared monthly payments of approximately (1 trillion dinars) for the purpose of paying the dues of businessmen, companies, and contractors, and the payments will increase with the resolution of the crude oil export crises.
He noted that he had issued directives to resolve obstacles related to tax accounting and to remove any conflict in instructions, and everything that hinders progress towards the goal of preserving public funds. He also directed that all laws and decisions that do not facilitate economic development and impede the expansion of partnership with the private sector be studied.
For their part, the businessmen offered to expand consultations with the government regarding service and development projects and priorities, diagnose market needs, and find solutions to economic challenges in order to help the government achieve its goals link
Tishwash: Iraq strengthens ties worldwide,Says Faihan
The First Deputy Speaker of parliament, Adnan Faihan, affirmed on Saturday that Iraq is proceeding with a policy of balanced openness and strengthening constructive partnerships with various countries around the world.
A statement issued by the media office of the First Deputy Speaker of Parliament, received by the Iraqi News Agency (INA), stated that “the First Deputy Speaker of Parliament, Adnan Faihan, received in his guest house the Ambassador of the Republic of Austria to Iraq, Andrea Nasi, where during the meeting they reviewed all the latest developments on the local scene, as well as exchanging views on the most prominent regional and international developments and their repercussions on the region.”
Faihan stressed “the need to raise the level of bilateral relations and expand areas of joint cooperation in a way that serves the mutual interests of the two friendly countries, especially in the economic and investment sectors, and the importance of resuming direct flights between Baghdad and Vienna as a supportive step to enhance trade exchange and revitalize tourism.”
For his part, the Ambassador of the Republic of Austria to Iraq, Andrea Nasi, expressed his country’s keenness to strengthen the partnership with Baghdad and develop areas of cooperation in various sectors, in a way that contributes to achieving the common interests of Iraq and Austria and serves the future of the two friendly peoples. link
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Tishwash: The Prime Minister’s advisor: Al-Zidi’s government has taken measures to preserve the purchasing power of the dinar and curb inflation.
The Prime Minister’s Financial Advisor, Mazhar Muhammad Salih, affirmed on Saturday that the government, headed by Ali Falih Al-Zaidi, has taken measures to preserve the purchasing power of the Iraqi dinar and curb inflation.
Salih told the Iraqi News Agency (INA) that “the policy of stabilizing the official exchange rate is based on a fundamental objective: protecting the external value of the national currency and maintaining the stability of the general price level.” He pointed out that “the stability of the exchange rate has contributed to strengthening confidence in the Iraqi dinar and supporting the purchasing power of citizens.”
Salih added that “the relationship between the stability of the exchange rate and the stability of prices of goods and services in the local market has remained strong, given the limited impact of the parallel market on the pricing system and the effectiveness of monetary policy.” He explained that “financing imports through the official banking system and relying on the state’s foreign reserves has contributed to providing imported goods at stable and controlled prices.”
He continued, stating that “government policies aimed at maintaining the stability of prices for public goods and services, along with the expansion of modern commercial distribution methods, particularly cooperative stores and advanced marketing models, have strengthened competition and contributed to reducing inflationary pressures and supporting price stability.”
Saleh explained that “among the most prominent factors putting pressure on the value of the national currency are the decline in official reserves, uncontrolled monetary expansion, and excessive reliance on oil revenues, which are currently subject to geopolitical constraints imposed on the freedom of energy markets, in addition to political and regional tensions and their impact on foreign currency flows and economic confidence.”
He emphasized that “raising the value of the Iraqi dinar cannot be achieved through quick administrative decisions, but rather through a long-term reform process based on the stability of monetary and fiscal policies, diversification of national income sources, and strengthening confidence in the local currency.”
He noted that “the stability of the dinar remains a direct reflection of the stability of the macroeconomy and its ability to withstand local and international changes, which is what the government is working on through a package of measures to strengthen the value of the Iraqi dinar. These measures include working to enhance foreign reserves, diversify the national economy and reduce dependence on oil, achieving stability in the balance of payments, as well as controlling the parallel market, reforming the banking system, expanding the use of electronic payment methods, and promoting financial inclusion.” link
