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His spokesman: The Cabinet discussed 6 important points, including the ban file, at today's session Posted a minute ago https://iraqakhbar.com/2943835 News source / Baghdad today News source / Baghdad today Culture Minister Hassan Nazim - Cabinet Spokesperson - Press conference Al-Kazemi confirmed during the cabinet session that the government prevented the economic collapse and the termination of currency items Al-Kazemi confirmed the government's adoption of the de-escalation stance on the conflicts in the region The government inherited a stifling economic crisis and was able to raise the reserves of the Central Bank of Iraq The government is working to solve some problems and crises, especially in Nasiriyah Try to address the problems facing Nasiriyah There is tendentious incitement in the events of Nasiriyah, and we will hold the negligent local administrations accountable The Minister of Health confirmed the positive effect of the ban, after the decrease in the rate of Corona injuries We discussed the ban file, and the Ministry of Health agreed with Pfizer to receive a million and a half doses of the Corona vaccine The Cabinet authorized my Iraqi ambassador to Russia and China to contract with vaccine manufacturers The Cabinet authorized the Iraqi ambassadors to Russia and China to contract with vaccine manufacturers Al-Kazemi directed not to allow any intermediary company to buy the Corona vaccine The Pope’s visit represents an important milestone in promoting cultural diversity in Iraq and the world

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Al-Kazemi identifies a government action that has contributed to the regular disbursement of salaries and describes the currency auction as "notorious" https://shafaq.com/ar/سیاسة/الكاظمي-يحدد-اجرا-حكوميا-ساهم-بصرف-الرواتب-ب-نتظام 2021-03-02 08:10 Shafaq News / Prime Minister Mustafa Al-Kazemi confirmed, on Tuesday, that he had taken governmental action that contributed to the continued regular payment of salaries, while he renewed indicating that there were attempts to obstruct the work of his government. Al-Kazemi said, during the cabinet session that was held today, according to a statement received by Shafaq News, that "the government took an important reform step represented by the white paper, which contributed to the continuation of regular payment of salaries, after there were those who were betting on the collapse of the situation." He added that "the country is going through multiple crises and there are attempts to obstruct the work of the government, but it has succeeded in preventing the collapse of the country economically and financially." Al-Kazemi called on the ministers to "not repeat the mistakes of previous governments in dealing with strategic files, and not to deal with bureaucracy with these issues, which leads to disrupting the provision of services and the completion of projects." The Prime Minister concluded his speech by saying, "Diagnosing the challenge is important to overcome obstacles and move forward in the stages of completion," declaring that "there is a glorification of the cash reserve and it increased by four billion dollars after accusations of the current government that it will bankrupt the reserve, as well as the notorious currency auction whose corruption has been reduced and has become the past".

Al-Kazemi: The notorious currency auction corruption is in the past Policy 2021-03-02 | 09:27 https://www.alsumaria.tv/news/سياسة/349326/الكاظمي-يعلن-عن-إعداد-ورقة-بيضاء-للإصلاحات-المرتقب?utm_campaign=magnet&utm_source=article_page&utm_medium=related_articles The Prime Minister, Mustafa Al-Kazemi, confirmed today, Tuesday, that corruption in the notorious currency auction has become a thing of the past. Al-Kazemi said during the cabinet session held today, that "there is a glorification of the cash reserve, and it increased by four billion dollars after accusations by the current government that it will bankrupt the reserve, as well as the notorious currency auction whose corruption has been reduced and has become a thing of the past." He directed the ministries of health, finance and planning to "work to end the file of hospitals that have been lagging since 2009 and before them and to work seriously to accomplish them," calling on the ministry to "work day and night to overcome all obstacles and not succumb to challenges." Al-Kazemi also instructed that "dealing with the purchase of vaccines should be directly with countries and manufacturers, and that dealing at all with intermediary companies should be prohibited."

Al-Kazemi: We succeeded in preventing the collapse of Iraq economically and financially Tuesday, 02-03-2021, PM 4:47 Karrar Al-Asadi 136 The Prime Minister, Mustafa Al-Kazemi, confirmed today, Tuesday, that the white paper contributed to the continuation of regular payment of salaries. Al-Kazemi said during the cabinet session, "The country is going through multiple crises and there are attempts to obstruct the work of the government and we have succeeded in preventing the collapse of the country economically and financially, and we have taken an important reform step represented by the white paper." He pointed out that "the white paper contributed to continuing to pay salaries regularly after there were those who were betting on the collapse of the situation." And Al-Kazemi had called, during today's session, of the ministers not to repeat the mistakes of previous government

Al-Kazemi: The notorious currency auction corruption is in the past Tuesday, 02-03-2021, PM 4:48 Karrar Al-Asadi 207 The Prime Minister, Mustafa Al-Kazemi, confirmed today, Tuesday, that corruption in the notorious currency auction has become a thing of the past. Al-Kazemi said during the cabinet session held today, that "there is a glorification of the cash reserve, and it increased by four billion dollars after accusations by the current government that it will bankrupt the reserve, as well as the notorious currency auction whose corruption has been reduced and has become a thing of the past." He directed the ministries of health, finance and planning to "work to end the file of hospitals that have been lagging since 2009 and before them and to work seriously to accomplish them," calling on the ministry to "work day and night to overcome all obstacles and not succumb to challenges." Al-Kazemi also instructed that "dealing with the purchase of vaccines should be directly with countries and manufacturers, and that dealing at all with intermediary companies should be prohibited."

Nazem: The government ended the currency auction and raised the central bank’s reserves Today, 18:24 Political BAGHDAD / INA , Cabinet spokesman Hassan Nazim confirmed today, Tuesday, that the government was able to finish the currency auction and raised the Central Bank’s reserves. Continued**********

The possibility of the dollar jumping above 150 thousand Iraqi dinars: “several reasons” for the increase, and this is what the 2021 budget will do after its approval! 2021-03-02 https://yesiraq.com/احتمالية-قفز-الدولار-فوق-150-الف-دينار-عر/ Yes Iraq - Baghdad A member of the Economic Committee in Parliament, Representative Mazen Al-Faily, commented today, Tuesday, on the expectations of a qualitative leap expected in the price of the dollar, after the approval of the general fiscal budget for the year 2021, hours after the price jump that pushed it above the 1460 dinars after it was closed yesterday In all governorates, under 145,500. Today's rise coincided with the announcement of the deputies to reach a consensus with the Kurdistan region that allows the budget legislation next Thursday in the House of Representatives. "The rise in the exchange rate of the dollar or its descent against the Iraqi dinar in the past days, was within a reasonable and not great range," Mazen Al-Faily said, in televised statements followed by "Yes Iraq", pointing out that "several reasons stand behind the fluctuation of the exchange rate." "The most prominent reasons that contributed to the fluctuation of the dollar's prices are the news and the circulating statements about the presence of parliamentary demands to return the previous exchange rate, in addition to the presence of speculation occurring in the markets, and the extent of their activity," Al-Faily explained. He added, "The exchange rate of the dollar will not see any leap forward and a form that makes it above 1500 dinars, as some say after the budget is approved, but it will certainly be affected by the extent of supply and demand, and this is a well-known framework and measure." Problems still exist, especially between the center and the region. And local media reported a parliamentary meeting that took place today, Tuesday, between the political blocs to discuss the budget law. Yesterday, during the House of Representatives session, the House of Representatives set today, Tuesday, a date for "the Presidency of the Council to meet with the heads of political forces on the necessary laws in the corridors of the Council, including the Budget Law to expedite its approval, in addition to the Federal Court Law." Differences over the draft federal budget bill for the current year still exist, due to the disagreement over the share of the Kurdistan region within the budget, and the failure of the governments of Baghdad and Erbil to reach a final agreement.

UK Co-President Jangi says has high hopes Erbil and Baghdad reach agreement on Thursday Patriotic Union of Kurdistan (PUK) Co-President Lahur Sheikh Jangi (PUK) 6 Hours ago https://nrttv.com/En/News.aspx?id=26613&MapID=1#NRTnews SULAIMANI — Patriotic Union of Kurdistan (PUK) Co-President Lahur Sheikh Jangi said on Monday (March 1) that he has high hopes that an agreement will be reached between Baghdad and Erbil regarding their outstanding disagreements this coming Thursday. During a ceremony commemorating Kurdish politician and Change Movement (Gorran) co-founder Qadir Haji Ali, Sheikh Jangi said that Erbil and Baghdad “must reach” an agreement. The Kurdistan Regional Government (KRG) had sent delegations to Baghdad at least sixteen times since last year, but has not officially announced an agreement yet. On Sunday, the KRG representative in Baghdad Fars Esa claimed that the delegation has reached agreement with the Council of Representatives’ Finance Committee, but warned that a number of political parties from the other ethno-sectarian blocs were trying to increase pressure on Erbil at the last minute. (NRT Digital Media)

http://non14.net/public/134225 On Monday, Financial Committee reporter Ahmed Al-Saffar denied the possibility of changing the value of the dollar’s exchange rate by returning it to its previous price or reducing it to 1,200 or 1,300 dinars. Al-Saffar said in a press interview followed by Noon News Agency for the day (March 1, 2021), that "the Central Bank is the only authority that has the absolute authority to change the exchange rate of the dollar and supervise the monetary system and determine the monetary mass and monetary policy, and from this point of view it is not permissible to interfere with the policy of the Central Bank." Absolutely being an independent body. " He added that "what is rumored here and there regarding the presence of a representative movement, does not fall within the professional policy of the work of the Central Bank, so the House of Representatives has no right to change the exchange rate

Parliament's finance rapporteur ends speculation that the exchange rate would be restored to 1,200 dinars to the dollar Posted 4 hours ago https://iraqakhbar.com/2941966 News source / Baghdad today News source / Baghdad today Baghdad today - Baghdad The reporter of the Finance Committee, Ahmed Al-Saffar, on Monday (March 01, 2021), resolved the controversy regarding the possibility of changing the value of the dollar’s exchange and returning it to the previous price after announcing representative moves to amend it and return it to the price of 1300 or 1200 as it was the previous price. Al-Saffar said in an interview with (Baghdad Today), “The Central Bank is the only authority that has the absolute authority to change the exchange rate of the dollar and supervise the monetary system and determine the monetary mass and monetary policy, and from this standpoint it is not permissible to interfere with the policy of the Central Bank at all because it is an independent party. “. He added that "what is rumored here and there regarding the presence of representative movement, does not fall within the professional policy of the work of the central bank, it is not the right of the House of Representatives to change the exchange rate." Al-Saffar said Sunday (February 28, 2021) that the desired goal of changing the exchange rate of the dollar against the Iraqi dinar has not been achieved, indicating that what is being said about the interference of political forces to restore the exchange rate to what it was before changing an issue outside the powers of the blocs and parliament . Al-Saffar said, in a televised interview, followed by (Baghdad Today), that “determining the exchange rate is the exclusive jurisdiction of the Central Bank of Iraq and it is not permissible to interfere in the bank’s work.” He went on to say, “We in Parliament do not have the authority to change the exchange rate because it is an executive authority, any government. “. He stressed that "setting the new exchange rate was based on a government decision and negotiations with the World Bank." On the results of the devaluation of the currency, Al-Saffar commented by saying that "the direct effects of changing the exchange rate caused inflation in the market and raised prices by 20-25%, because it was assumed that citizens would turn to local goods after the imported goods rose, and this means that the desired goal has not been achieved." . And he added, "But the problem is that there is no competition that favors local goods until the change in the exchange rate achieves significant local results." Regarding the existence of a political move to restore the exchange rate of the dollar to before a change decision, the parliamentary finance rapporteur affirmed, "What is said about the intention of political forces to intervene to determine the exchange rate is a conversation outside their powers, because it is exclusively within the government's authority and will not be permitted." And on the latest developments in the 2021 budget bill, Al-Saffar said, "The Finance Committee has completed its work in amending the budget and has delivered the draft to the Presidency of Parliament, but the committee has no authority to amend the exchange rate within the budget clauses and paragraphs

The Financial Committee resolves the issue of the dollar exchange rate Posted 4 hours ago https://iraqakhbar.com/2941966 News source / NR TV News source / NR TV On Monday, Financial Committee reporter Ahmed Al-Saffar denied the possibility of changing the value of the dollar’s exchange rate by returning it to its previous price or reducing it to 1,200 or 1,300 dinars. Al-Saffar said in a press interview followed by RT Arabia, today (March 1, 2021), that “the Central Bank is the only authority that has the absolute authority to change the exchange rate of the dollar and supervise the monetary system and determine the monetary mass and monetary policy. The central bank is absolutely an independent agency. He added that "what is rumored here and there regarding the presence of representative movement, does not fall within the professional policy of the work of the central bank, it is not the right of the House of Representatives to change the exchange rate

The Central Bank’s sales of hard currency continues ... How will it affect the exchange rate? 2021-03-01 https://yesiraq.com/ارتفاع-مبيعات-البنك-المركزي-من-العملة-2/ Yes Iraq: Baghdad On Monday, the Central Bank of Iraq announced the sale of more than $ 139 million in a currency auction. The Central Bank of Iraq witnessed during its auction for the sale and purchase of foreign currencies today, a decrease in its sales by 10.53 percent to reach 139 million 530 thousand and 235 dollars, covered by the bank at a basic exchange rate of 1460 dinars per dollar, compared to last Thursday, when sales reached 155 million and 948 thousand Dollars. The purchases amounting to 139 million 530 thousand and 235 dollars went to strengthen the assets abroad in the form of transfers and appropriations, while the banks did not buy any dollar in cash. And 23 banks responded to requests to boost assets abroad. The expert in economic affairs, Raad Twig, revealed that the average price of the dollar recorded a decrease from 1460 dollars, which is the official price of the Central Bank of Iraq, 1447.5 dinars for purchase and 1457.5 for sale, as a result of the revival of sales of the Central Bank through the currency window last Thursday, to 155.984 million dollars at the official price. He pointed out that "this move in the cash demand comes after it was met by stagnation in the Central Bank of Iraq’s dollar sales since the Iraqi dinar price was reduced as a result of the presence of excessive real domestic demand for imported goods for fear of extending urban periods as a result of the epidemic, as well as the merchants’ reliance on contentment with a steadfast decision. The Central Bank reduced the exchange rate of the Iraqi dinar and the Ministry of Finance pledged to compensate traders and contractors for their losses due to the decrease in the price of the dinar

2021/03/01 17:42 Parliamentary Finance: The 2021 budget will be passed by consensus of the political blocs http://almasalah.com/ar/news/206467/المالية-النيابية-موازنة-2021-ستمرر-بتوافق-الكتل-السياسية Baghdad / Al-Masalla: The Parliamentary Finance Committee clarified, on Monday, March 1, 2021, that the 2021 budget will be passed in agreement with all political blocs. Committee member Naji Al-Saeedi said in a press statement, "The vote on the budget will be at the end of this week," noting that "the budget will not be passed without consensus." He added, "The budget will pass in agreement with all political blocs, including the Kurdish blocs," ruling out "voting on the budget by the majority." Al-Saeidy added, "If there had been a majority vote, negotiations would not have continued and the approval of the budget would have been delayed until this moment." Follow the obelisk

Erbil-Baghdad Talks Aim to Achieve Favorable Deal for Both: Iraqi PM Basnews English 2021/03/01 - 14:02 https://www.basnews.com/en/babat/672763#.YDzLRJGYNDo.twitter ERBIL — The ongoing dialogue between Kurdish Region delegations and the federal government aims to achieve the partnership that Erbil and Baghdad aspire for, said Iraqi Prime Minister Mustafa al-Kadhimi. In an interview with Asharq Al Awsat, PM Kadhimi said the current relations between the Kurdistan Region and Iraqi federal government are not what both sides desire based on the Constitution, and that dialogues are ongoing to meet the demands from both sides. “The ongoing dialogue between Kurdish Region delegations and the federal government aims to achieve the partnership that we aspire for with our brothers in Kurdistan. We want to achieve the goals of the Kurds as we do the goals of Iraqis throughout the country,” the Iraqi premier said. “The government has helped eliminate differences with the Kurdistan Region. Everything ultimately hinges on what the parliament decides on the budget and other issues,” he explained about the 2021 budget bill that is now waiting for parliament’s approval. Kadhimi noted that his government believes that meeting commitments in line with the constitution and resolving any dispute with Kurdistan is a primary factor in the recovery of the political life, consolidating stability and defeating terrorism and all other forces that want to harm Iraq.

Parliamentary Finance announces the completion of all budget law articles Political | 05:16 - 01/03/2021 https://www.mawazin.net/Details.aspx?jimare=143789 BAGHDAD - Mawazine News The Parliamentary Finance Committee announced, on Monday, that it has completed all the articles of the Federal Budget Law for the fiscal year 2021. The Media Department of Parliament stated, in a statement received by Mawazine News, a copy of it, that “The Finance Committee is headed by Representative Haitham Al-Jubouri, Chairman of the Committee, and the presence of Members, it held a meeting in which it discussed a number of topics on its agenda. The statement added, "The committee concluded, during its meeting, which was held at its headquarters, its discussions regarding the third amendment to the Law of the Accountants and Auditors Syndicate and raising it to a vote, in order to keep pace with the development in the professions of accounting and internal auditing, and for its importance in preserving public funds and being an element of fighting corruption, and to organize work Those who practice the profession and organize the election process for members of the Bar’s board of directors and members of the control and monitoring committees. The Finance Committee stated, according to the statement, "its position regarding the draft federal budget bill for 2021," stressing that it "has completed all the articles of the law and has delivered a letter to the Presidency of the Council of Representatives since 2/15/2021 for the purpose of setting a date for voting on it

Wednesday 25th February 2021 The Euphrates Center discussed: the causes and repercussions of the double economic shock in Iraq A report issued by the Al Furat Center for Development and Strategic Studies, which was prepared by a group of academics specializing in economics https://annabaa.org/arabic/economicreports/26280 Wednesday 25th February 2021 Economy The Iraqi economy The Iraqi dinar Corona Oil prices Al Furat Center for Development and Strategic Studies Participants: Dr. Amer Omran Al-Mamouri - University of Karbala. Dr. Abbas Fadel Resan - Ahl Al-Bayt International University. Dr. Hussein Ahmad Al-Sarhan - Al Furat Center for Development and Strategic Studies Dr. Ihab Ali Al-Nawab - Ahl Al-Bayt International University. The researcher has his son Shimon Shlimon - head of research at the Central Bank of Iraq. Researcher Haider Mortada Ali - writer in the field of economic policies Contents: Foreword. The first axis: the causes and repercussions of the double economic shock. The second axis: ways out of the double economic shock. Recommendations. Foreword: Iraq began with an economic shock in 2003 when it adopted the transformation in a sudden and in one go, from central planning to the market economically, and it seems that this matter has become a system that Iraq runs on (the system of shocks and not the shock of the system). Apart from the narration of previous shocks, the current double economic shock that Iraq was exposed to in terms of causes and potential repercussions, as well as the necessary proposals to avoid the occurrence of shocks, can be addressed and discussed with specialists after briefly presenting them. Due to the Iraqi economy's excessive dependence on the state and oil, in conjunction with the weak investment environment, the reluctance of the private sector to invest, the failure to create job opportunities, and the increase in the armies of unemployment, which was a fertile environment for increasing the electoral balance in exchange for providing job opportunities in the country (disguised unemployment), the state became in a financial position. Be envied. Because the financial deficit rose starkly (by 107%) from 28 trillion dinars in 2019 to 58 trillion dinars in 2021, by virtue of increasing public expenditures from 133 trillion dinars in 2019 to 150 trillion dinars in 2021 (before the amendment) in exchange for a decrease in public revenues from 105 One trillion dinars in 2019 to nearly 92 trillion dinars in 2021. The matter changed after the amendment was made, as the deficit increased and reached 71 trillion dinars, and public expenditures rose to 164 trillion dinars, compared to an increase in public revenues to 93 trillion dinars, but with a lower rate than the increase in public expenditures. Therefore, the deficit increased by a greater percentage after the amendment was made, and the matter is still in the hands of the legislative authority. In particular, the Finance Committee is currently conducting intensive discussions with the executive authorities to determine its financial needs precisely. In order to save money and address the critical financial situation, the state resorted to monetary and financial policies in one go and simultaneously in the 2021 budget, where the state announced a reduction in the value of the Iraqi dinar to be sold by 1,450 instead of 1182 to the central bank, 1460 to banks and 1,470 to the public at the level of monetary policy, and to reduce employee compensation At the very least, which represents the engine of the economic cycle at the present time; Large proportions at the level of fiscal policy. In the sense that Iraq was subjected to a double economic monetary and financial shock, as the devaluation of the Iraqi dinar, which was implemented directly in conjunction with the reduction of compensation for employees by a large percentage that is still under discussion under the dome of Parliament and had a media impact, led together to the decline of economic activity due to the state of ambiguity and apprehension. About the future. This shock, without a doubt; It did not happen without the existence of reasons that prompted its occurrence, and it will certainly have repercussions that extend into the future, perhaps negative or positive, or both, and this requires analyzing the causes of the shock and the means of salvation from its negative repercussions. The first axis - the causes and repercussions of the double economic shock There are many reasons that contributed to the occurrence of the double economic shock, which can be addressed as follows: First - the ill-considered transformation and the absence of an economic vision It is known that the process of economic transformation in Iraq after 2003 was not a deliberate, planned and smooth process, but rather it was caused by an external political and military factor, i.e. the policy of forced change or what is known as a sudden strong shock that eliminated all the capabilities, constituents and institutions of the state in Iraq, as the occupation strategy was focused On the destruction of all of the above, rebuilding it and arranging it again according to a new liberalism to destroy Iraq and empty it of all its capabilities, especially since Iraq did not possess a clear economic system, before 2003, as the talk about a central economic system planned is just an illusion. A mixture of multiple styles subject in their application to the philosophy, mood and interest of the political system, and that the shift from this volatile and virtually unclear economic stereotype was not towards a market economy whose theoretical features were not mature and whose application was not clear because it was not linked to a national will, but rather it was linked to the curriculum and interests of the occupier. Therefore, the claim of an economic transformation in Iraq is just heresy and an exaggeration in the media rhetoric, as what is happening is an attempt to leave multiple unclear patterns towards a new system that is more chaotic and hazy, as we did not see on the ground any shift towards a market economy as the Iraqi economy is still within the stage An unplanned chaotic transition due to the lack of a clear economic philosophy that simulates the nature and conditions of the Iraqi economy, from which a feasible economic system emerges that harmonizes and simulates the economic and social configuration in Iraq with the need for the process of rebuilding the state and its institutions to be a process prior to any economic transformation process, because the transformation is in the shadow of chaos. Instability is pushing towards destructive chaos that prolongs the transition phase characterized by a distorted economic system incubating for corruption that leads to waste and waste of resources with the impasse in development and the loss of development opportunities. Therefore, we are facing a hybrid and distorted economy that is almost completely dependent on oil rent, which is the basis for the continuity and sustainability of economic and life conditions, and deepened economic and financial chaos, misallocation of resources, lack of a clear economic vision to manage the Iraqi economy and the continuous confusion in economic policies from this imbalance, despite Of the financial surpluses that were achieved during the years of financial ease, the Iraqi economy remained reeling under a large volume of debt, up to $ 130 billion in 2018, which opened the door wide for international financial institutions to impose their agenda in managing the economic file in Iraq under the headings of restructuring and reform ... Therefore, what happened recently of government measures under the so-called white paper consistent with the prescription of the International Monetary Fund and the draft budget of 2021 and the decision to reduce the exchange rate, which has sparked widespread controversy in Iraqi society, represents a walk on the same analysis previously mentioned, especially since most of the measures that have been applied or wanted Its application represents shocks that deepen the imbalance and deepen the wounds, especially since what is happening has not been studied and the economic and social effects of its application have not been studied and that the arguments that were announced for the purpose of diversifying the economy and getting out of the financial impasse are weak and contradictory with each other ... Second - austerity measures instead of incentives Most countries, due to the Corona pandemic, and to get out of its shock, followed incentive policies to revive the economy, but the measures in Iraq reinforced the shock with other shocks more harmful than the pandemic to the economy, so demand was targeted by reducing spending on salaries and wages, imposing taxes and reducing real income through devaluation and in The supply side, the procedure for raising the exchange rate under the pretext of raising the competitiveness of the local product will lead to a decline and contraction of local products because most of them depend on importing production requirements from abroad, which will be affected by the rise in the exchange rate, which makes the production cost high, which will push towards higher prices and loss of competitiveness, which will also be affected. By raising taxes and reducing subsidies, which will inevitably lead to a contraction of domestic commodity production. What gives the treatment by reducing the exchange rate to competitiveness, it should be gradually consistent with the growth of the production base, but if the purpose is to finance the budget deficit, this procedure does not add more than 10 trillion dinars, which will be eroded due to the high import bill and in light of the reciprocal relationship between the budget deficit and the current account .. Therefore, the government's actions by raising the exchange rate, reducing salaries, increasing taxes, and raising subsidies will push towards the so-called phenomenon of stagflation, which will have devastating effects on the Iraqi economy, which will deepen the problems of the Iraqi economy and threaten social peace. Third - Stopping production, widespread corruption and breaching the independence of the Central Bank The basis of the problem was in the economic and financial policy through the complete cessation of the productive base in the first and the expansion of unjustified spending on the other hand, in addition to the embezzlement of state funds by various means in what is known as corruption, which is a focal point in this problem. But ignoring the decision-maker and his mistake in diagnosis and going towards finding solutions and remedies using monetary policy by the government specifically, and its breach of the independence of the central bank created a problem and created a bigger crisis instead of finding appropriate solutions, and this situation will continue due to the deliberate error in diagnosis and submission to the disastrous IMF prescriptions. As resorting to currency devaluation as a rebellion against the independence of the monetary authority and in implementation of the government's desire represents an escape from addressing the rampant financial and administrative corruption at the border crossings, and the actual customs revenues of up to 12 billion dollars, but what enters the budget does not exceed one billion dollars, so it was the government's failure to address the file of the border outlets. Devastating effects on the Iraqi economy, so how can a local product see the light in light of the collapse and cracking of the customs wall? Fourth - Lack of political stability The general unstable political situation has had devastating repercussions on the economy. This could include political corruption, the lack of independence of political and thus economic decision-making, and the multiplicity of non-governmental policy-making actors. This is mainly due to a political basis. Moreover, the political will has lost its compass regarding economic policies, which makes any confrontation or confrontation of the imbalances in the economy is a prisoner of groups and parties that benefit from the state of non-politics, if you will, in economic affairs. The weakness of that will was also reflected in multiple forms, including the lack of commitment to the strategies and plans set in relation to diversifying budget revenues, poverty alleviation, revitalizing the private sector, and the national development plan. This weakens the confidence of the international community, states and organizations, in the government and the Iraqi decision. Not to mention the lack of a common political will to impose security on the entire territory of the state, which made non-governmental interference play its role in the service of partisan and personal interests. Fifthly - economic imbalance The picture of economic imbalance (rentier economy, and the weak role of the private sector) was clear, and this is an indicator for all post-2003 governments, as well as international economic and financial institutions. All governments have emphasized in their governmental programs to overcome this imbalance, but the reality is that they are well aware that overcoming this imbalance may require some economic and social cost, and therefore the opponents of the economic affairs and the administration of the executive authority do not want to lose their political future. Consensus on the economic decision and the government's lack of independence in the economic decision and the influence it is subject to in its economic decisions, and the intervention of non-governmental actors motivated by regional or narrow interests, all of these greatly affected the economy through two things: The first is the lack of clear economic policies except for the expansion of public spending, which comes for electoral reasons. The second is the absence of a bold economic reform decision, which prompted all governments, without exception, to borrow to finance the "political money account". Sixth: Corona and oil prices Among the causes of the double economic shock was the crisis and complex shock (health, economic) that the Iraqi economy witnessed at the end of the first quarter of 2020. The first was the isolation measures to confront the outbreak of the Coronavirus Covid 19 after the World Health Organization officially announced at the end of January that the outbreak The virus is a public health emergency of international concern. As for the second, the sharp decline in oil prices due to the epidemic and its transmission to many countries of the world, and the slowdown in economic activity, which confused the public finances in the country, and the financing of public spending became facing great challenges and difficulties, so the government resorted to taking severe austerity measures that will have negative effects. Long-term impact on the economy, and the shock really began when the OPEC + meeting failed to maintain the oil agreement, due to the decline in oil prices significantly, as well as reducing oil production quotas, this situation greatly affected the existing economic activity. Seventh - Government intervention in the economy Some argue that countries whose governments intervene in the economy are very natural to experience such shocks, and the worst repercussions are still coming. The successive governments in Iraq have frequently manipulated the Iraqi economy’s counters, such as (currency exchange rate, wage rates, interest rates, customs fees, government employment rates, and others ...). This manipulation received the blessing of the people, thinking that the government’s manipulation in its favor, but it became clear today that the government and its manipulative policies are the problem, not a blessing. We will compare these indicators that we mentioned above with (pain), we all live in physical pain, but there is a good reason for the existence of pain, because the pain was created by God Almighty to indicate to us that there is a problem in our bodies, and then the imbalance must be treated, not the symptoms. It is possible to take pain relievers, in which case you temporarily relieve the symptoms, but the defect remains. The same applies to economic indicators that are symptoms of any imbalance in the economy. For example, high prices indicate that there is a problem with productivity in a particular sector and a decrease in supply. Instead of treating the problem, the government forcibly lowers prices or lowered the price of the foreign currency. It has temporarily remedied the symptoms (price hikes), but the economic problem remains latent. The second axis - ways out of the double economic shock You can confront shock and get rid of its negative repercussions by: First - Effective trade and financial policies What should be done is to fortify the customs wall and to fully control all border crossings to increase the volume of revenues entering the budget, protect the local product, and reduce all unnecessary spending, especially in the three presidencies, allocations for maintenance, fuel, cleaning, dispatch, hospitality, cleaning, rent, and the abolition and integration of many unnecessary governmental bodies and institutions that drain Budget revenues and a review of laws and legislations that inflated current public spending, which lacked standards of efficiency and fairness, and which burdened the budget, especially the retirement laws in the three presidencies, as well as that preceded the formation of the Iraqi government. On the revenue side, processing telecommunications network files and collecting the arrears owed by them while pushing toward establishing a national telecommunications company, as well as corporate files for licensing rounds, collecting tax revenues for companies and controlling the revenues of ports and airports, moving quickly to resolve corruption files, retrieving looted state funds, and following up on Iraq's funds abroad. ... and the trend towards legalizing imports to the narrowest possible extent and limiting themselves to what is necessary and regulating the process of foreign currency exit abroad. Addressing the issue of land ownership and slums, which will add large sums to the budget ... Second - Monetary Policies - Multiple Exchange Rate That is, it is necessary to go to the multi-exchange rate system, through which it is possible to have the exchange rate of essential food and pharmaceutical imported commodities low and identical to the previous price, i.e. linking the exchange rate with the flexibility of the commodity with the continuation of the agricultural calendar for agricultural commodities, and the exchange rate is raised on luxury goods and other than The necessary ... in addition to the existence of a competitive and preferential exchange rate for imported production requirements that enter into the production of locally produced goods in order to reduce production costs and raise their competitiveness. Third - Communication companies, border crossings revenues and the industrial sector There are many alternatives, foremost among which are telecom companies whose contractual deadline has expired and which generate revenues exceeding $ 20 billion annually, excluding the debts owed by them to the state. In addition to controlling the revenues of the border crossings and the exclusion of foreign workers that drain hard currency and whose expenditures do not enter the internal economic cycle, the industrial sector can also be activated to meet many of the needs locally, and this operation can also contribute to covering the salaries of its employees at the very least. Fourth - a common political will targeting security and the economy Necessity calls for resolution, and the common political will of political forces and government is the basis from which to start. Availability of a plan for reform or availability of strategies is not sufficient. The Iraqi state has more than 20 strategies and plans in which experts, executive specialists, academics, and specialized international organizations have contributed, but none of them have found a full implementation path according to what is decreed, but the opposite is complete to escape forward and leave the pitfalls that characterize the economic decision in the country. Today, the country is in a dangerous direction, and we do not forget that most of the experiences of countries that witnessed divisions were mainly security and economic reasons, and our country is witnessing an imbalance in the security and economic sectors. Therefore, it is necessary to face objectively the potentials of defects in economic security. We believe that this requires several pillars: State sovereignty over its entire territory and the absolute monopoly of the right to coercion. - Governmental political will, legislative power and even political forces towards real reform, confronting corruption, and independence in national political, security and economic decisions. A realistic economic program that takes into consideration all the current macroeconomic and social indicators to avoid any measures that would increase the economic and social costs of reform. Implementing the program through accurate legislative and executive frameworks, within the framework of public policies that support it. Fifth: Reforming the political system is a guarantor of economic reform The solutions to this situation are now known to all, but up to now they are useless. The political situation still casts its shadow on the economic scene, and without political reform movement at the level of the system and the political process, the improvement of the economy may be prolonged and the country will continue its rent and dependence on oil for long periods, exposing the country to more. Economic shocks, political reform has become necessary in order to stop the drain on the resources of the country's economy. Sixth: Liberating the economy from government interference As long as the government follows the same policies that brought the country to this crisis, the crises will continue and worsen. Everyone focuses on quick solutions, but these quick solutions will make the situation worse if they are not part of a comprehensive strategy based on liberalizing the economy over the next five years. In general, we have to monitor two main indicators if we want to follow the progress of government reform of the economy. The first: the Index of Economic Freedom, which includes sub-indicators that help to closely monitor the economy. The second: the Iraq Stock Exchange Index, as the index's rise will reflect the extent to which investors are comfortable with the business environment in the country. Investor sentiment is a sincere indicator to a large degree, because the investor is not flattered or manipulated when it comes to his money! In contrast to government and economic reports, which can often be deceptive, the reporter will lose nothing if he makes a mistake in his report! The first indicator will tell us whether the government continues to manipulate the economy’s meters ... and if the manipulation continues, it is unlikely that the second indicator will improve, and the only hope will remain an improvement in oil prices, but from the continuing corruption of course. Seventh - Other Policies 1- Providing a base for monetary and financial stability that allows for the success of the investment effort and opens horizons for investors in the direction that price fluctuations do not affect the future of investment. 2- Moving towards a policy of economic diversification (diversification of sources of income) and raising the share of the private sector in the gross domestic product by achieving partnership between the public and private sectors in order to enhance its role in the sustainable development process. 3- Supporting the real activities of the Iraqi economy by continuing to provide a financial support package for private sector projects, that is, lending to private sector projects from specialized banks as well as supporting small and micro enterprises through the largest lending initiative in the history of Iraq presented by the Central Bank of Iraq. 4- The offering of bonds by the Central Bank for individuals and institutions, similar to the bonds that were offered in the 1980s under the name Corona crisis bonds (whether mandatory or optional), and this type is very beneficial for the economy, as it reduces inflation rates and helps reduce deficits The budget. 5- Reducing government spending on all aspects of expenditures (governorates, ministries, the Kurdistan region, regional development, the investment budget), and this option could lead to an economic recession, but at lower rates. Issuing Islamic and traditional savings certificates for the benefit of the Ministry of Finance, as some banks allow customers to issue savings certificates that comply with Islamic Sharia, with the aim of attracting a segment of customers who do not deal with traditional banking products, and prefer products that comply with the provisions of Sharia, and banks set specific controls to calculate the return on these certificates According to Islamic law, it is represented in determining an estimated average return on certificates that are subject to rise or fall according to the annual net revenue of the bank's business, and in order to achieve the desired goals, they must be greatly supported by the media in order to transfer the behavior of the Iraqi citizen from a consumer to an investor, and to mobilize national savings. Recommendations: First - Reforming the political system to be able to manage the country and bring it out of chaos for stability, as there is no economic reform without political stability. Second - Combating corruption in all parts of the state and controlling border crossings, land, sea and air, to ensure that public revenues are counted and supplemented to the general budget. Third - Paying attention to the file of the telecommunications companies in terms of paying the state's owed money, and working to establish a national telecommunications company (a joint stock company) whose shares will be offered to the Iraqis. Fourth: To reduce public expenditures, especially unnecessary current, as much as possible, which leads to a reduction in the size of the fiscal deficit. Fifth: Working at a multiple exchange rate according to the flexibility of commodities to ensure that economic and social costs are reduced and the cost of local production is kept from rising. Sixth: Focusing on the quality of investment spending rather than its size to ensure that the state proceeds in the right direction and in line with the new economic trend. Seventh - Liberating the economy from the government, especially the factors of production, and specifically the land, where the state dominates 80% of it. Eighth - Legislating the law on partnership between the public and private sectors, which was reviewed by the State Council since December 2017. * Al Furat Center for Development and Strategic Studies / 2004-2021 www.fcdrs.com

KRG reaches budget agreement with Council of Representatives’ Finance Committee, claims KRG representative Flags of Iraq and the Kurdistan Region (File) 11 Hours ago https://nrttv.com/En/News.aspx?id=26591&MapID=1#NRTnews SULAIMANI — Representative of the Kurdistan Regional Government (KRG) in Baghdad Fars Esa said on Sunday (February 28) that the KRG’s negotiators has reached an agreement with the Council of Representatives’ Finance Committee about the 2021 federal budget. Esa told NRT reporter Hersh Qadir that the timing of a visit to Baghdad by a KRG delegation to seal the deal depends on when the Council of Representatives decides to meet to vote on the draft 2021 Federal Budget Law. If the vote is scheduled for this coming Thursday, the delegation will travel on Tuesday. Esa did not give details about the agreement and whether it differs in any way from previous reported agreements. He said that the KRG is committed to the agreement, but warned that a number of political parties from the other ethno-sectarian blocs were trying to increase pressure on Erbil at the last minute. (NRT Digital Media)

Parliament Financial Reporter: There is no point in the parliamentary movement to adjust the exchange rate .. Only one party is responsible Posted 3 hours ago https://iraqakhbar.com/2939840 News source / Baghdad today News source / Baghdad today Baghdad today - Baghdad The reporter of the Parliamentary Finance Committee, Representative Ahmed Al-Saffar, said today, Sunday (February 28, 2021), that the desired goal of changing the exchange rate of the dollar against the Iraqi dinar has not been achieved, indicating that what is being said about the interference of political forces to restore the exchange rate to what it was Before changing an order outside the powers of the blocs and parliament. Al-Saffar said, in a televised interview, followed by (Baghdad Today), that “determining the exchange rate is the exclusive jurisdiction of the Central Bank of Iraq and it is not permissible to interfere in the bank’s work.” He went on to say, “We in Parliament do not have the authority to change the exchange rate because it is an executive authority, any government. “. He stressed that "setting the new exchange rate was based on a government decision and negotiations with the World Bank." On the results of the devaluation of the currency, Al-Saffar commented by saying that "the direct effects of changing the exchange rate caused inflation in the market and raised prices by 20-25%, because it was assumed that citizens would turn to local goods after the imported goods rose, and this means that the desired goal has not been achieved." . And he added, "But the problem is that there is no competition that favors local goods until the change in the exchange rate achieves significant local results." Regarding the existence of a political move to restore the exchange rate of the dollar to before a change decision, the parliamentary finance rapporteur affirmed, "What is said about the intention of political forces to intervene to determine the exchange rate is a conversation outside their powers, because it is exclusively within the government's authority and will not be permitted." And on the latest developments in the 2021 budget bill, Al-Saffar said, "The Finance Committee has completed its work in amending the budget and has delivered the draft to the Presidency of Parliament, but the committee has no authority to amend the exchange rate within the budget clauses and paragraphs." Yesterday, Saturday, a member of the Legal Committee in the House of Representatives, Representative Hussein Al-Oqabi, revealed the fate of the parliamentary movement regarding changing the exchange rate of the dollar and returning it to the previous price, while he confirmed that most of the parliamentary blocs insist on the survival of the new price. Al-Aqabi said in an interview with (Baghdad Today), "The government and most of the parliamentary blocs, unfortunately, do not want to return the dollar exchange rate to the previous price," indicating that "the continuation of this matter will have consequences and great harm to the Iraqis." He added that "raising the dollar exchange rate has caused great harm to the poor class, but the government and influential parliamentary parties reject the return of the exchange rate to the previous one," noting that "his mass (the national approach) has a firm position on reconsidering the exchange rate and has proposed an intermediate option to reduce the price to 1300 instead." From the new price. ” Al-Uqabi indicated that "his mass will boycott the parliament sessions if the government continues to adopt the new exchange rate." Earlier, the National Approach Parliamentary Bloc presented, today, Saturday (February 27, 2021) 40 amendments to the budget bill for 2021, including the return of the exchange rate to the previous one, indicating not to vote on the bill. The bloc demanded, in a statement received (Baghdad Today), to make 40 amendments to the 2021 budget bill, as follows: 1. Restoring the exchange rate to what it was previously, as the damages of this decision became clear early, and the Finance Committee suggested allocating (500) billion dinars in compensation to contractors contracting with the government for the difference in price. And all of these damages necessitate the restoration of the exchange rate to what it was previously. 2. That the deficit does not exceed 3% of the GDP. 3. Expanding the titles of sovereign expenditures to include (the Ministry of Oil, Transport and Water Resources, and the inclusion of the security and defense sector in all its ministries and institutions, as well as the contingency reserve). 4. Abolishing Article (38) which permits the privatization of all productive and service sectors of the state and allows the participation of investors and contractors in the ownership of oil and gas fields, power stations, Iraqi Airways aircraft and government banks. 5- Abolishing Article 47 which permits the sale of the state’s financial assets, including industrial, infrastructure, and others. 6. Abolishing the two articles (42 and 41) that allow the sale of state-owned agricultural lands to the owners of the right to dispose of them at a value much less than its real value and will create widespread social conflicts 7. We reject the proposal to withhold the ration card from a family whose monthly income is one million dinars, and we demand that it be increased to include withholding only those whose monthly income exceeds two million dinars. 8- We present the Al-Nahj block proposal on the articles of the Kurdistan region: A- Abolishing the first paragraph of Article (11) that calculates the dues of the Kurdistan region for the previous years from 2014 to 2019 despite not having delivered the oil and non-oil revenues. B - Paragraph Second - A of Article (11) is amended to be (The region is obligated to deliver 460,000 barrels per day to SOMO, and in the event that its production exceeds this amount, it is obligated to deliver it also to the Iraqi Oil Marketing Company (SOMO). C- Adding Article Seven of the Current Deficit Financing Law (determining the Kurdistan region’s share of the total actual spending (current expenditures and investment project expenditures) after excluding the sovereign expenditures specified in the Federal Budget Law of the Republic of Iraq for the fiscal year 2021) and adding the expenditures of the Ministry of Oil, the Ministry of Transport and the Ministry of Resources Water and the inclusion of the security and defense sector in all its ministries and institutions to be included in the sovereign expenditures as well as the contingency reserve) provided that the Kurdistan region is committed to handing over (460) thousand barrels per day to the Iraqi Oil Marketing Company (SOMO) exclusively, as well as deliver Mazad on those quantities and all non-oil revenues of the federal and in case Failure to comply with the region, it is not permissible to pay the expenses to the region, and the violator of this text bears the legal responsibility). D- Paragraph III (a, b, and c) that obligates the federal authorities to pay the region’s loans and financial obligations that it entered into in the years (2014 to 2019) shall be canceled. E - Article (11 - third) - to be reformulated (the region is obligated to pay the loans owed to the Iraqi Trade Bank). 9. Obligating the mobile phone companies to pay their fines and financial obligations within thirty days, otherwise the license is withdrawn from them. 10. Reviewing contracts for mobile phone companies in order to achieve the lifting of unfairness from the Iraqi state and achieve the highest economic benefit for it. 11- Canceling the oil licensing rounds and replacing them with a formula that achieves the highest benefit to the Iraqi state and eliminates previous injustice. 12. Abolishing the salary deduction for public employees and increasing the tax on senior officials, special ranks, general managers and those of their grade. 13. Amending Article 57 of the Budget to oblige the government to publish budget execution instructions in the official gazette

The regional government announces its condition in the budget and reveals the latest results of the negotiations with Baghdad Posted 5 hours ago https://iraqakhbar.com/2939716 News source / Al Furat News News source / Al Furat News {Baghdad: Al Furat News} The spokesman for the Kurdistan Regional Government, Guitar Adel: We will not accept any unconstitutional solution imposed on the region. There are solutions in the fiscal budget for 2021 in a manner that satisfies both parties. They must be applicable and applicable within the framework of the constitution. The dialogues are ongoing and the government has full flexibility to reach a consensual constitutional solution. There are good understandings, consensus and satisfaction between the two parties. Some positions and issues I think during this week it is possible to reach an agreement that satisfies the two parties, and there are obligations and debts for the oil companies on the regional government, and Baghdad is aware of this, the SOMO company and the Ministry of Finance that matched the data with the region. Kurdistan will demand guarantees in the event that the oil is delivered. The budget is approved without the Kurds. The region will have options and plans and is in the process of preparing its 2021 budget We are aware and are convinced that it is imperative to confront problems together and obtain concessions between the two parties in order to reach a satisfactory, constitution-compatible solution to the constitution. Discussions and dialogues are still ongoing between the two parties and even at the level of political leaderships.

After discussion of the draft federal oil and gas law ... a government call to expedite its approval https://shafaq.com/ar/اقتصـاد/بعد-نقاش-لمسودة-قانون-النفط-والغاز-الاتحادي-دعوة-حكومية-للتعجيل-ب-قراره 2021-02-24 14:13 Shafaq News / The Minister of Oil stressed the importance of expediting the passage of the federal oil and gas law and its importance in regulating the management of oil and gas wealth in Iraq. Ihsan Abdul-Jabbar Ismail said that the meeting of the Opinion Committee at the Ministry of Oil, which was held on Wednesday, included discussion and review of the final version of the Federal Oil and Gas Law, stressing that this copy should be referred to the Council of Ministers for approval. He added that after the completion of its review by the concerned authorities in the ministry, the Council of Ministers will review this copy, and in turn refer it to the House of Representatives in order to legislate this law. He stressed the ministry's keenness to approve a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support the national economy.

Erbil-Baghdad Talks on Budget Positive: KRG Spokespersonhttps://www.basnews.com/en/babat/671832#.YDbD9mz_l9A.twitter BasNews 2021/02/25 - 00:19 Kurdistan ERBIL - Negotiations between Erbil and Baghdad on the budget disputes are ongoing and positive, Jotiar Adil, a spokesperson for the Kurdistan Regional Government (KRG), said on Wednesday. Speaking to reporters at a press conference following a cabinet meeting chaired by PM Masrour Barzani, the KRG spokesperson pointed out that Erbil and Baghdad are close to reaching a final agreement on the disputes related to the budget. He noted that the KRG is "serious" about all of its constitutional commitments in regards with its agreements with the federal government. Concerning the KRG's budget law for the year of 2021, Jotiar said that the majority of ministries have prepared their data of expenditures and revenues, indicating that the budget law would possibly be ready within the next 10 days and be sent to the parliament. Erbil and Baghdad are yet to reach a final agreement on the Kurdistan Region's share from the federal budget for the current year. However, both sides are now quite positive that they will soon resolve the issue

Iraq talks about 'breakthrough' in the file of increasing oil production through 'OPEC' Wednesday 24th February 2021 18:26 https://akhbaar.org/home/2021/2/280504.html Baghdad (People) - The Iraqi Oil Marketing Company "SOMO" confirmed, on Wednesday, that an upcoming meeting is being prepared for the beginning of next month in "OPEC" to increase production by 500 thousand barrels per day. The Director General of the Oil Marketing Company, Sumo Alaa Al-Mousawi, said in a statement to the official agency affiliated with "people" (February 24, 2021), that "we are ready to manage the oil file in the region after the federal government agreement with the region." He added, "The federal government has the exclusive authority to manage oil throughout Iraq," noting that "freezing the sale of oil by prepayment at the present time." He added that "an upcoming meeting will be at the beginning of next month in OPEC to increase production by 500 thousand barrels per day." Moussawi added that "Iraq's share of increasing production in OPEC is 60 thousand barrels per day

Iraq talks about 'breakthrough' in the file of increasing oil production through 'OPEC' Wednesday 24th February 2021 18:26 https://akhbaar.org/home/2021/2/280504.html Baghdad (People) - The Iraqi Oil Marketing Company "SOMO" confirmed, on Wednesday, that an upcoming meeting is being prepared for the beginning of next month in "OPEC" to increase production by 500 thousand barrels per day. The Director General of the Oil Marketing Company, Sumo Alaa Al-Mousawi, said in a statement to the official agency affiliated with "people" (February 24, 2021), that "we are ready to manage the oil file in the region after the federal government agreement with the region." He added, "The federal government has the exclusive authority to manage oil throughout Iraq," noting that "freezing the sale of oil by prepayment at the present time." He added that "an upcoming meeting will be at the beginning of next month in OPEC to increase production by 500 thousand barrels per day." Moussawi added that "Iraq's share of increasing production in OPEC is 60 thousand barrels per day

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