Customs: Our Revenues Increased By 128% During The Current Year
The General Authority of Customs revealed, on Monday, that its revenues increased by 128% during the current year compared to last year, while confirming that administrative reforms and the ASYCUDA system contributed to the increase.
Director of the General Authority of Customs, Ahmed Al-Akidi, said in a statement reported by the official news agency, and reviewed by “Al-Eqtisad News”, that “the revenues of the General Authority of Customs for the period from 1/1/2024 to 30/11/2024 amounted to one trillion and nine hundred billion dinars, compared to 892 billion dinars in 2023, with an increase rate of 128%.”
He added that “administrative reforms, the ASYCUDA system, and simplification and facilitation of customs procedures contributed to increasing revenues.”
Al-Akidi explained that “the General Authority of Customs is working according to plans represented in a number of axes, including developing the competencies and skills of employees, in addition to completing the installation of the ASYCUDA system in customs centers that have not been automated,” noting that “by the end of 2025, all customs centers will be automated.”
He continued that “automation consists of multiple stages, the first stage is done by automating the centers, then linking with government departments within the country is considered the second stage, and the third stage is linking with the customs programs of neighboring countries.”
With More Than 30 Billion Dollars… A Leap In The Projects Market In Iraq
The English magazine “Med Projects” revealed that the projects market in Iraq rose to 8.6% in November.
The magazine said in a report it published and reviewed by Shafaq News Agency that Iraq witnessed a significant increase of 8.6 percent or $31.7 billion in the value of its market projects in November, ranking fourth after the UAE, Saudi Arabia and Iran.
She added that the increase in the value of projects in Iraq reflects the view that Baghdad has shifted its focus to rebuilding and modernizing the country’s deteriorating infrastructure.
Sudanese advisor reveals government’s philosophy for future of national economy
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the government’s philosophy for the future of the national economy, represented by the idea of establishing a sovereign wealth fund.
Saleh told {Euphrates News} that: “The initiation of the idea of a sovereign wealth fund is essential and is consistent with the renaissance of natural resources and undoubtedly comes in parallel with the development path strategy and its outcomes in generating a leading industrial renaissance in the national economy.
This is Iraq’s outline in building the future of its economy for the twenty-first century and in two directions {the export-oriented development model and the other, and the development model directed towards maximizing the input-output tables and replacing imports within the national economy}.
He added, “Therefore, the sovereign wealth fund will adopt a vision that expresses the strength and basis of the interconnections between the outputs of national wealth from natural resources and the inputs of the production function in the national economy, which requires another model in managing sovereign wealth funds directed towards the interior.”
Saleh explained that “the sovereign fund will work to accelerate the diversification of the three basic sectors, which are the manufacturing industry, agriculture and services, in an advanced digital age. This is what the government program aspires to in its philosophy for the future of the national economy, which did not neglect the idea of partnership between state activity and market activity in sustainable development.”
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