Positive signs of Ebadi's economic initiative

[Bama Girl]

On 8/7/2017 at 0:40 AM, billbill said:

Diversification! Great sign of stability in the gov. 

Great sign of "economic stability" and we need this. 

[Texstorm]

2 hours ago, Freedomwish said:

 

I'd drink to that 

Keep going my friend and you are going to float the USS Trump Battleship.... Hell and fury for the NOKO's !

[Theseus]

7 hours ago, 10 YEARS LATER said:

I can see this dragging on for a while .

Shhhh. You might draw the ire of those who think this is going to happen on a sunday.

[Theseus]

1 hour ago, Texstorm said:

Keep going my friend and you are going to float the USS Trump Battleship.... Hell and fury for the NOKO's !

Not NOKO's, they are NORKs. Hell fire fury and brimstone to the NORKs.

[10 YEARS LATER]

2 hours ago, Theseus said:

Shhhh. You might draw the ire of those who think this is going to happen on a sunday.

 

Hhmmmm . . . plenty of " Sun-daze " between now and the end of 2019.  

 

After 14 years on this roller coaster,  I'm looking into some sack time in Cryo-Sleep. I need a Looooong NAP. Wake mw when we're THERE ! 

[yota691]

Economist The government's tendency to diversify Iraq's financial imports is "a good late step"

In the economy of  August 12, 2017 Comments on Economist The government's tendency to diversify Iraq's financial imports by "good late step" closed 27 visits

 

 

Follow-up / SNG - Counting the specialist in economic affairs Al-Amin safe haven, the government's tendency to diversify the country's imports and reduce its dependence on oil exports in the annual budget from 95% to 85% is a good step, but it is very late after Iraq's huge budgets were wasted during more than A decade ago.

Al-Amin said in a press statement that "the planning and enactment of laws and issuing orders and controls and support of non-oil productive sectors was a method called by observers and economic experts since 2005 so far, now that the weakness of procedures and the absence of rational plans caused waste budgets in previous years in investment projects is useless "The investment of agriculture in Iraq and its development using modern methods of irrigation, agriculture, improved seeds, land reform and support for workers in the sector result in excellent revenues, which may constitute 20% of the general budget, especially if directed Agricultural production to export the surplus of it after the self-sufficiency and reduce the import of agricultural products with the development of food industries and industries that depend on agricultural products as raw materials such as cotton and wool, leather and others.

"The neglect of the private industrial sector during the past years encouraged the import and exit of the national currency to the countries of import. The controls and procedures during the past years did not encourage the owners of sewing factories to recycle their machines, The past has been replaced by the import of all the needs of the market from neighboring countries as well as for the electrical and electronic industries and others.

He pointed out that "supporting the private and public industrial sector and re-positioning may achieve 10% of the revenues of the public budget and opens wide opportunities for work to eliminate unemployment rampant in the country, adding that the tourism sector, whether archeological, religious or recreational could constitute a large figure exceeding 15% Imports of the banana if used in a scientific manner, and as is the case with countries that have the advantages of Iraq from the presence of religious shrines, monuments and tourist areas.

He added that the government should accelerate the implementation of plans to involve the rest of the economic sectors producing income through investments and the enactment of laws to issue controls and support workers in these sectors, because oil prices may deteriorate in the coming years due to market fluctuations and increase production of rock oil, Clean energy reduces the dependence of industrialized countries on oil as a major source of energy.

[nannab]

 Really?  No kidding you don't say. Go back under your rock Mista. 

[yota691]

Central Bank: Conditions of the International Monetary Fund aims to reform Iraq's economy

Governor of the Central Bank Ali Al-Alaq "Economy News"

Economy News Baghdad:  The governor of the Central Bank, Ali Alalak, that the economy of Iraq can not rise without the existence of a real banking sector and effective, stressing that the conditions of the International Monetary Fund aims to reform the economy.  Al-Alak said in his speech at the celebration held by the Islamic Bank of Iraq on the occasion of the anniversary of the "25" year of its founding, and attended by "Economy News", "It can not rise the economy of Iraq without a real banking sector and actively contribute to support the productive sectors," adding that " Of the Iraqi banks possess human and financial capabilities and keep abreast of developments in banking systems. " He pointed out that "the need to strengthen confidence between banks and citizens, which reflects positively on the economy of the country and facilitate banking operations and create great competition," noting that "the Central Bank launched the largest lending initiative in the history of Iraq through the allocation of 6 trillion dinars." He pointed out that "the Iraqi economy exceeded the difficult stage and that the IMF's recent report on the financial situation of Iraq was positive," stressing that "the conditions of the International Monetary Fund aims to reform Iraq's economy by controlling expenditures and revenue."     Views 29   Date Added 08/13/2017

[yota691]

Association of Iraqi Private Banks: The banking sector consists of 70 banks

Economy News Baghdad:   The President of the Association of private banks, the depositary Handal, that the Iraqi banking sector consists of 70 banks, adding that the Association of private banks has trained 750 bank employees during the first half of this year. In his speech at the celebration held by the Islamic Bank of Iraq on the occasion of the 25th anniversary of the establishment of the bank and attended by "economy", Al-Hantal said that "a major movement is taking place in the banking sector as a result of the policy of the Governor of the Central Bank to support the work of banks." The bank consists of 70 banks, including 63 private banks and seven government banks. "  He explained that "the share of private banks in monetary credit from 2003 to 2016 amounted to 13%," noting that "there is mobility to cooperate with banks in neighboring and foreign countries in addition to the commitment of private banks to the instructions and controls of the Central Bank."  He pointed out that "the Association of Private Banks has achieved many goals in the rehabilitation of human resources in conjunction with international companies and training them on the topics of combating money laundering and the financing of terrorism and risk management," stressing that "     Views 28   Date Added 13/08/2017

[yota691]

Investments in Iraq have exceeded $ 93 billion since 2010

13-08-2017 12:16 PM

Readers

 

Baghdad News -

Life

 

The investment sector in Iraq has developed remarkably in the last seven years, despite unstable security conditions, with government measures and reforms that try to attract domestic and foreign investors to the market.

 
The head of the National Investment Authority, Sami Araji said in a press statement that the volume of foreign and domestic investments in Iraq "exceeded 93 billion dollars in the past seven years, distributed to various economic sectors." He said that the investment sector in Iraq "has seen remarkable progress in recent years, given the aspiration of most Arab and foreign countries to enter the promising Iraqi market, which is currently ranked among the most active markets in the world."

"Since the Investment Law No. 13 of 2006, there have been investment activities, but they have been slow," he said. While we have seen after 2010, a real start, especially after the first amendment and the second, which came in 2015 ».

And the number of investment projects implemented, he pointed out that «exceeded 1400 projects and included the sectors of housing, tourism, industry and agriculture, while the investment map for this year more than a thousand projects, distributed to all provinces without exception and the various economic sectors». He noted «an increase in the demand for the establishment of industrial plants and cities, which will reflect positively on economic advancement in terms of reducing the volume of imports and employment opportunities».

Araji revealed a «five-year plan approved by the National Central Investment Commission, headed by Prime Minister Haider Abadi, and the membership of all ministries», saying that «the formation of the Commission shows the new government's direction to focus on investment sectors, and accelerate its steps, which faced many obstacles due to bureaucracy, Powers of representatives of ministries in one window, which means shortening many episodes in the transfer of the project and the ownership of land and others ».

"The five-year plan (2018-2022) is linked to accelerating the volume of investment, especially after the elimination of terrorism« Daash », and the absence of government funding».

He said that the focus on investment projects «aims to restore the life of liberated cities and the rest of Iraq, which is also experiencing a lack of services and recreational facilities and productive projects».

[yota691]

Al Araji: Investments in Iraq exceeded $ 93 billion since 2010

Economy News _ Baghdad BAGHDAD (Reuters) - The volume of foreign and domestic investments in Iraq has exceeded 93 billion dollars in the past seven years, distributed over various economic sectors, the head of the Iraqi National Investment Authority Sami al-Araji said on Sunday. "The investment sector in Iraq has witnessed remarkable progress in recent years, given the aspiration of most Arab and foreign countries to enter the promising Iraqi market, which is currently ranked among the most active markets in the world," Araji said in an interview with Al-Hayat newspaper. He added that "since the enactment of the Investment Law No. 13 of 2006, there were investment activities, but it was slow, while we have seen after 2010, a real start, especially after the first amendment and the second, which came in 2015. He pointed out that "the number of projects exceeded 1400 projects and included the sectors of housing, tourism, industry and agriculture, while the investment map for this year more than a thousand projects, distributed to all provinces without exception and the various economic sectors," indicating "an increase in the demand for the establishment of industrial plants and cities, Which will reflect positively on the economic advancement in terms of reducing the volume of imports and employment opportunities. The Araji revealed, "a five-year plan approved by the National Central Investment Commission, chaired by Prime Minister Haider Abadi, and the membership of all ministries," adding that "the formation of the Commission shows the new government's direction to focus on investment sectors, and accelerate its steps, which faced many obstacles due to bureaucracy, Granting powers to representatives of ministries in the same window, which means shortening many episodes in the transfer of the project and ownership of land and others. He explained that "the five - year plan (2018 - 2022) linked to accelerate the volume of investment, especially after the elimination of terrorism," Dahesh "and the lack of government funding. "The focus on investment projects aims to restore life to liberated cities and the rest of Iraq, which is also experiencing a lack of services and recreational facilities and productive projects."   Views 32   Date Added 13/08/2017

[yota691]

Quote

" stressing that "the conditions of the International Monetary Fund aims to reform Iraq's economy by controlling expenditures and revenue."

 

 

[blueskyline]

Thank You Yota ! GM DV's !

[skeetdog]

Thanks Yota...Iraq is building their private sector as the main part of their economy...All the displaced citizens have to settle back into their homes...or what's left....Territorial boundaries have to be reestablished so appropriate funding can be determined...Iraq may have a little time to pile some of the debris up before the rain sets in...Iraq's private sector want be able to show any type of synifcant contribution to the economy until late next year...This was predict...but the private sector is thriving with opportunities and the world backing their funding and support...If Iraq can get the heavy equipment needed for the infrastructure and modern agriculture equipment in country for this next season sow...The numbers want start showing till the end of next year...but for every Iraqi going from dependent to employeed...and there's already 'work-for-hire' that being paid on ecards...The Iraqi economy (private sector) is thriving as I text...It looks like the IMF has had to line Iraq out again on their priorities and responsibilities are...and lining them out in the right direction....

[yota691]

International Monetary Fund praises Iraq's actions to achieve comprehensive economic development

---

 

14/8/2017 17:40:00

 

      

International Monetary Fund praises Iraq's actions to achieve comprehensive economic development

 

The International Monetary Fund (IMF) praised the government's measures aimed at achieving comprehensive economic development through controlling and reducing spending, encouraging investment and heading towards the private sector as well as serious steps towards maximizing its non-oil revenues to avoid or reduce the budget deficit by moving away from the total dependence of oil as a basic resource for the budget. The Fund revealed through its indicators of the overall financial and economic situation in Iraq for the period from 2013 to 2022 the arrival of the size of public debt to Iraq to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach the public debt during 2018 to 132.4 and continue according to Qat even fund up to 132.9 during 2022. 

 

The Fund, through the Executive Directors' assessment on the sidelines of the conclusion of the IV Article IV Executive Board with Iraq, welcomed the policies set by the Iraqi Government to deal with the shocks of armed conflict with the organization of the terrorist advocate and the humanitarian crisis resulting from the waves of displacement and its aftermath, as well as the second shock of falling crude oil prices . 

 

The outlook for growth in Iraq is positive in the medium term. Growth will be driven by the moderate increase in oil production, the recovery of non-oil growth, supported by the expected improvement in security conditions, and the implementation of structural reform measures. 

 

CEOs applauded the fiscal year of 2016, albeit slower than the program, due to poor monitoring of investment spending and spending pressures imposed by the military campaign against a sympathetic organization and assistance to IDPs and refugees. Managers welcomed most of this fiscal discipline by reducing capital spending Inefficient while protecting social spending. 

 

Directors also welcomed the adoption of the 2017 Supplementary Budget and the Government's commitment to further austerity measures in 2017-2018 to keep the program on track and to ensure the safety of the external center and to maintain the level of debt within sustainable limits, and stressed the need to create financial space to strengthen human capital and rebuild capital The low level of non-tax revenue and the extremely high level of public consumption would create a financial space to finance growth-supportive investments. 

 

The IMF pointed to the appropriateness of the government's measures that were able to maintain the exchange rate system pegged to the US dollar. He stressed that with the central bank simplifying documentation requirements, exchange rate differences compared to the parallel market narrowed to 6% in June 2017. 

 

In its assessment of the overall economic and financial conditions In Iraq, he stressed that although performance under the credit agreement was weak in some key areas, understandings were reached on corrective action to keep the program on track. Against this background, they urged managers to persevere in implementing the authorities' program, including continued efforts to control public finances, strengthen the financial sector, implement structural reforms to encourage private sector activity and improve the business environment. 

 

To strengthen stability in the financial sector, managers urged the government to take measures to strengthen supervision, move ahead with the restructuring of state-owned banks that control the banking system, and strengthen the central bank's legal framework, And accelerate the implementation of measures against money laundering, financing of terrorism and combating corruption. Directors believed that the currency peg to the US dollar, which is the cornerstone of the economy, remains an appropriate system. 

 

Directors also stressed the importance of implementing structural reforms to improve the investment climate, diversify the economy and achieve sustainable growth. They urged the authorities to undertake a comprehensive reform of public financial management, including the completion of a regular inventory, payment of arrears and improved commitment to expenditure and cash management to prevent the accumulation of new arrears. 

Managers also emphasized the importance of addressing weaknesses in management capacity and data availability. In addition, the implementation of the budget-sharing agreement between the federal government and the Kurdistan Regional Government would put the two governments in a better position to deal with shocks. 

 

The International Monetary Fund revealed through its indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the volume of public debt to Iraq to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach public debt in 2018 to 132.4 and continue to Fund forecast up to 132.9 during 2022. 

 

PUKmedia / agencies

[yota691]

The International Monetary Fund warns Iraq against inflation of public debt

Readers

 

 

The International Monetary Fund warns Iraq against inflation of public debt

 

14-08-2017 04:52 PM

 

The Euphrates -

 

The International Monetary Fund (IMF) praised the government's measures aimed at achieving comprehensive economic development through controlling and reducing spending, encouraging investment and heading towards the private sector as well as serious steps towards maximizing its non-oil revenues to avoid or reduce the budget deficit by moving away from the total dependence of oil as a main resource for the budget. The Fund revealed through its indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the size of Iraq's public debt to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach the public debt in 2018 to 132.4 and continue to The fund caps up to 132.9 in 2022. 

The Fund, through the Executive Directors' assessment on the sidelines of the conclusion of the IV Article IV Executive Board with Iraq, welcomed the policies set by the Iraqi Government to deal with the shocks of armed conflict with the terrorist organization and the humanitarian crisis resulting from the waves of displacement and its aftermath, as well as the second shock of falling prices Crude Oil 
The IMF said that growth prospects in Iraq are positive in the medium term. Growth will be driven by the moderate increase in oil production, the recovery of non-oil growth, supported by the expected improvement in security conditions and the implementation of structural reform measures. 
CEOs applauded the fiscal year of 2016, albeit slower than the program, due to poor monitoring of investment spending and spending pressures imposed by the military campaign against a sympathetic organization and assistance to IDPs and refugees. Managers welcomed most of this fiscal discipline by reducing capital spending Inefficient while protecting social spending 
Directors also welcomed the adoption of the 2017 Supplementary Budget and the Government's commitment to further austerity measures in 2017-2018 to keep the program on track and to ensure the safety of the external center and to maintain the level of debt within sustainable limits, and stressed the need to create financial space to strengthen human capital and rebuild capital The low level of non-tax revenue and the extremely high level of public consumption would create a financial space to finance growth-supportive investments. 
The IMF pointed to the appropriateness of the government's procedures which were able to maintain the exchange rate system pegged to the US dollar. He stressed that with the central bank simplifying the documentation requirements, exchange rate differences compared to the parallel market narrowed to 6% in June 2017. 
The IMF, in its assessment of the overall economic and financial situation in Iraq, stressed that although performance under the credit agreement was weak in some key areas, understandings were reached on corrective action to keep the program on track. Against this backdrop, they urged managers to persevere in implementing the authorities' program, including continued efforts to control public finances, strengthen the financial sector, implement structural reforms to encourage private sector activity and improve the business environment. 
To strengthen stability in the financial sector, managers urged the government to take measures to strengthen supervision, move ahead with the restructuring of state-owned banks that control the banking system, and strengthen the central bank's legal framework, And accelerate the implementation of measures against money laundering, financing of terrorism and combating corruption. Directors believed that the currency peg to the US dollar, which is the cornerstone of the economy, remains an appropriate system. 
Directors also stressed the importance of implementing structural reforms to improve the investment climate, diversify the economy and achieve sustainable growth. They urged the authorities to undertake a comprehensive reform of public financial management, including the completion of a regular inventory, payment of arrears and improved commitment to expenditure and cash management to prevent the accumulation of new arrears. Managers also emphasized the importance of addressing weaknesses in management capacity and data availability. In addition, the implementation of the budget-sharing agreement between the federal government and the Kurdistan Regional Government would put the two governments in a better position to deal with shocks. 

The International Monetary Fund revealed through its indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the volume of public debt to Iraq to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach public debt in 2018 to 132.4 and continue to The fund forecast to reach 132.9 in 2022.

[yota691]

International Monetary Fund praises Iraq's actions to achieve comprehensive economic development

economy

 Since 2017-08-14 at 18:07 (Baghdad time)

Follow Mawazine News

The International Monetary Fund praised the government's measures aimed at achieving comprehensive economic development through controlling and reducing spending, encouraging investment and going to the private sector as well as serious steps towards maximizing its non-oil revenues to avoid or reduce the budget deficit by moving away from the total dependence of oil as a basic resource for the budget. That the Fund revealed through indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the volume of public debt to Iraq to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach the public debt during 2018 to 132.4 and continue to Fund forecasts even up to 132.9 during 2022.

The Fund, through the Executive Directors' assessment on the sidelines of the conclusion of the IV Article IV Executive Board with Iraq, welcomed the policies set by the Iraqi Government to deal with the shocks of armed conflict with the organization of the terrorist advocate and the humanitarian crisis resulting from the waves of displacement and its aftermath, as well as the second shock of falling crude oil prices .

The outlook for growth in Iraq is positive in the medium term. Growth will be driven by the moderate increase in oil production, the recovery of non-oil growth, supported by the expected improvement in security conditions, and the implementation of structural reform measures.

CEOs applauded the fiscal year of 2016, albeit slower than the program, due to poor monitoring of investment spending and spending pressures imposed by the military campaign against a sympathetic organization and assistance to IDPs and refugees. Managers welcomed the achievement of most of this fiscal discipline by reducing capital spending Inefficient while protecting social spending.

Directors also welcomed the adoption of the 2017 Supplementary Budget and the Government's commitment to further austerity measures in 2017-2018 to keep the program on track and to ensure the safety of the external center and to maintain the level of debt within sustainable limits, and stressed the need to create financial space to strengthen human capital and rebuild capital The low level of non-tax revenue and the extremely high level of public consumption would create a financial space to finance growth-supportive investments.

The IMF pointed to the appropriateness of the government's procedures which were able to maintain the exchange rate system pegged to the US dollar. He stressed that with the central bank simplifying the documentation requirements, exchange rate differences compared to the parallel market narrowed to 6% in June 2017.

The IMF, in its assessment of the overall economic and financial situation in Iraq, stressed that although performance under the credit agreement was weak in some key areas, understandings were reached on corrective action to keep the program on track. Against this background, they urged managers to persevere in implementing the authorities' program, including continued efforts to control public finances, strengthen the financial sector, implement structural reforms to encourage private sector activity and improve the business environment.

To strengthen stability in the financial sector, managers urged the government to take measures to strengthen supervision, move ahead with the restructuring of state-owned banks that control the banking system, and strengthen the central bank's legal framework, And accelerate the implementation of measures against money laundering, financing of terrorism and combating corruption. Directors believed that the currency peg to the US dollar, which is the cornerstone of the economy, remains an appropriate system.

Directors also stressed the importance of implementing structural reforms to improve the investment climate, diversify the economy and achieve sustainable growth. They urged the authorities to undertake a comprehensive reform of public financial management, including the completion of a regular inventory, payment of arrears and improved commitment to expenditure and cash management to prevent the accumulation of new arrears.

Managers also emphasized the importance of addressing weaknesses in management capacity and data availability. In addition, the implementation of the budget-sharing agreement between the federal government and the Kurdistan Regional Government would put the two governments in a better position to deal with shocks.

The International Monetary Fund revealed through its indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the volume of public debt to Iraq to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach public debt in 2018 to 132.4 and continue to The Fund's forecast is expected to reach 132.9 during 2022. Ending 29 / Mh

[yota691]

Foreign investment flows are key to economic development

15/8/2017 1:06 am     Baghdad / Emad emirate is  no doubt that foreign capital is moving according to the determinants of the overall stability of the countries , along with the laws included the transfer of funds and profits to the parent company 's state or direct investor, and on this basis, the country needs to speed up foreign investment flows to pay to the growing, requires - According to specialists - to increase openness to foreign and domestic investments by creating the legal ground to establish an attractive investment environment in Iraq.  The Economist Abdul-Karim Jaber Shangar explained to "Sabah" that the country sought to establish an appropriate investment environment in attempts to overcome the difficulties of entering foreign investment to its economic sectors.  He pointed out that the unstable country is not encouraged to enter the investment due to the various risks to the direct investor such as the confiscation of investments or exposure to various attacks, which may create loss of life for workers.  He pointed out that the economic determinants are linked to the appropriate monetary, financial and accounting policies in the host countries, in addition to the size of the market supported by the relative abundance of natural resources necessary for the establishment of foreign direct investment, stressing that the banking system is the basis for the success of the entry of foreign direct investment, The independence of the monetary authorities from the legislative and executive authorities, the foundations of a banking system to enter the foreign investment of Iraq.  He called for the establishment and development of infrastructure, which is considered an important part of the productive capacity directed to production or providing services to increase the capacity of the state production such as machinery, equipment, construction and paving roads, bridges, airports, public utilities and buildings, and increased competitiveness with the radical shifts in economic and political relations is the main factor in Attracting investments.  Investor Rayan Al-Oussi pointed out that there are many factors that affect the psychology of the local and foreign investor and thus determine his behavior, the most important of which is tension, as well as excessive confidence and its influence in acting.  He explained that the tension represents the imbalance between one's perception of what is required in a particular situation and its ability to meet those demands, indicating that the investor faces events seen as threatening to lose, moreover there can be behavioral or cognitive pressures, so the emotional reactions Generate a catalytic energy to meet and identify the problem.  He stressed that economic pressures can raise behavioral reactions to the investor, reflecting the low skills of coping and dealing with the situation, and in the end, the pressure reduces the confidence of investors to succeed in their future work.  The academic economist d. Ahmed Omar Al-Rawi said:  Iraq was not an experiment in opening up to foreign investments, where the policies and ideologies adopted before 2003 were the openness to foreign investment country is governed by external forces. "The narrator said in an interview with" morning "that in view of this did not allow the laws adopted then any foreign investment activity, stressing that Iraq today has become a dire need for investment in all its forms, especially after the changes that have occurred in the country and the implications of the emergence of "Daesh" terrorist and control over large areas.  He added that the financial resources fell due to the decline in oil prices in recent years and the high cost of military operations to liberate the Different areas of terrorism, has crippled the national economy in all its sectors.  Rawi stressed the need to speed up work hard to attract investment and activate the legal and institutional frameworks necessary to provide for the arrival of foreign investment facilities.   He pointed out that the important question posed today and more than a decade after the issuance of the investment law, is really Iraq has achieved the investment environment to attract foreign investment? What are the conditions for attracting investment? Because Iraq today is in dire need of foreign investment to reconstruct the areas liberated from terrorism and revitalize the national economy.  Al-Rawi said that the advantages and disadvantages of openness to foreign investment are based on two interests that are mutually beneficial to the investor and the interest of the host country for investment. Therefore, if foreign investment is not organized in a manner that preserves the social and economic interests of the country, this investment will be in favor of international capital.

[yota691]

The private sector in Iraq is modern

15/8/2017 1:06 am    Dr.. Hamid Punitive  we are watching with interest the changes and developments that have taken place on the national scene in particular and the world in general, as well as through the experiences of countries that have achieved success as economic application of policies and adopted macroeconomic stability and high investment rates without searching the details of these policies from one country to another that By integrating into the global economy gradually and selectively and strategically created a boom in economic growth.    These countries adopted a stable macroeconomic policy that enabled them to absorb the rapid external changes. Here, it is necessary to improve their institutions and ensure the real partnership between the public and private sector, which has been able to achieve rapid economic growth in more than three decades. It was not necessarily those countries that tried to accelerate integration into the global economy Through the abolition or reduction of tariffs or those that abolished the restrictions on the movement of capital, but the countries that have been interested in increasing the share of investment in the total national income and adopted a stable economic policy.  It is clear from the Asian experience that the ability of any country to absorb the aspects of international changes in the positive aspects and to avoid and reduce their negative effects here relied on the efficiency and quality of the public administration as it deepened and distributed its trade links in addition to increasing the share of products classified in those countries' exports. Since 2000.  Since that date, we have had a role in guiding the private sector in all its details, in order to secure businessmen, traders, industrialists, contractors, farmers and investors, and towards a free economy. The private sector has an active role in economic development as the incubator of unemployment. Finance that has been and continues to be a single and unproductive economy.  It is well known that the Iraqi economy faced major and complex problems, which led to a significant slowdown in the growth of the Iraqi economy and led to the emergence of major structural imbalances in the Iraqi economy. The low performance in the private and public sectors in Iraq will force the government to reconsider its role in  economic life  .  When talking about the Iraqi private sector, we mean the broad sense of the sector, whether regular or irregular, which can be extended to include associations and unions of businessmen, quality and specialized unions, chambers of commerce, union of industries, trade unions, individuals and economic owners despite being marginalized for reasons that the sector may be unorganized or ineffective In the volume of investments for different considerations. There is also a lot of repetition of seminars, conferences and meetings with officials, which have become ineffective whether the bittersweet or not.  Here lies the need, which requires the private sector to organize and form pressure forces on the government to expand the role of the private sector by organizing its ranks through an encouraging legislative framework and granting more incentives that create the appropriate climate for local investment and replace the government in the projects that resorted to it and form alliances and mergers that make it able To engage in large-scale projects, so that the private sector is the largest contributor to GDP and the active contributor to economic policy-making and the largest absorber of  unemployment. * President of the International Federation of Businessmen in Iraq

[yota691]

International Monetary Fund praises Iraq's actions to achieve comprehensive economic development

Economy News _ Baghdad The International Monetary Fund on Tuesday praised the government's measures aimed at achieving comprehensive economic development through controlling and reducing spending, encouraging investment and going to the private sector as well as serious steps towards maximizing its non-oil revenues in order to avoid or reduce the budget deficit by moving away from total dependence on oil as a basic resource. However, the Fund revealed through the indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the size of Iraq's public debt to 122.9 billion dollars, which constitutes 63.8% of the gross domestic product, expected to reach public debt in 2018 to 132 4. The Fund's expectations continue to reach 132.9 in 2022.  The Fund, through the Executive Directors' assessment on the sidelines of the conclusion of the IV Article IV Executive Board with Iraq, welcomed the policies set by the Iraqi Government to deal with the shocks of armed conflict with the organization of the terrorist advocate and the humanitarian crisis resulting from the waves of displacement and its aftermath, as well as the second shock of falling crude oil prices .  The outlook for growth in Iraq is positive in the medium term. Growth will be driven by the moderate increase in oil production, the recovery of non-oil growth, supported by the expected improvement in the security situation, and the implementation of structural reform measures.  CEOs applauded the fiscal year of 2016, albeit slower than the program, due to poor monitoring of investment spending and spending pressures imposed by the military campaign against a sympathetic organization and assistance to IDPs and refugees. Managers welcomed the achievement of most of this fiscal discipline by reducing capital spending Inefficient while protecting social spending.  Directors also welcomed the adoption of the 2017 Supplementary Budget and the Government's commitment to further austerity measures in 2017-2018 to keep the program on track and to ensure the safety of the external center and to maintain the level of debt within sustainable limits, and stressed the need to create financial space to strengthen human capital and rebuild capital The low level of non-tax revenue and the extremely high level of public consumption would create a financial space to finance growth-supportive investments.  The IMF pointed to the appropriateness of the government's measures that were able to maintain the exchange rate system pegged to the US dollar. He stressed that with the central bank simplifying documentation requirements, exchange rate differences compared to the parallel market narrowed to 6% in June 2017.  In its assessment of the overall economic and financial conditions In Iraq, he stressed that although performance under the credit agreement was weak in some key areas, understandings were reached on corrective action to keep the program on track. Against this background, they urged managers to persevere in implementing the authorities' program, including continued efforts to control public finances, strengthen the financial sector, implement structural reforms to encourage private sector activity and improve the business environment.  To strengthen stability in the financial sector, managers urged the government to take measures to strengthen supervision, move ahead with the restructuring of state-owned banks that control the banking system, and strengthen the central bank's legal framework, And accelerate the implementation of measures against money laundering, financing of terrorism and combating corruption. Directors believed that the currency peg to the US dollar, which is the cornerstone of the economy, remains an appropriate system.  Directors also stressed the importance of implementing structural reforms to improve the investment climate, diversify the economy and achieve sustainable growth. They urged the authorities to undertake a comprehensive reform of public financial management, including the completion of a regular inventory, payment of arrears and improved commitment to expenditure and cash management to prevent the accumulation of new arrears.  Managers also emphasized the importance of addressing weaknesses in management capacity and data availability. In addition, the implementation of the budget-sharing agreement between the federal government and the Kurdistan Regional Government would put the two governments in a better position to deal with shocks.  The International Monetary Fund revealed through its indicators of the overall financial and economic conditions in Iraq for the period from 2013 to 2022 on the arrival of the volume of public debt to Iraq to 122.9 billion dollars, which constitutes 63.8% of gross domestic product, expected to reach public debt in 2018 to 132.4 and continue to The fund forecast to reach 132.9 in 2022.

Views 31   Date Added 08/15/2017

[Synopsis]

13 hours ago, yota691 said:

Because Iraq today is in dire need of foreign investment to reconstruct the areas liberated from terrorism and revitalize the national economy. 

 

Thank You, Yota, for this and all the other great articles You bring over! 

Yep, that's what I am thinking!!!       

 

I have a feeling we are in a seemingly brief "hiatus" mode right now until other things line up. Pretty sure these things will line up at record pace at some point. Could be dispatching Nouri al-Maliki to complete neutralization, freeing all the remaining areas in Iraq of ISIS, booting Iran from Iraq, application of Article 140 (maybe associated with the HCL) in all Iraq, could be some other things, or just pushing the button already!

 

The pressure appears to be building to get the show on the road and have the much needed tsunami of private and corporate foreign investment pour into Iraq. I think pressure building is good for us. Maybe August is our month. Likely September 21 with the potential Caretaker Government installation and/or September 25 with the proposed Kurdistan Referendum will further accelerate what needs to be done.

 

Feelin' Optimistic!

 

In The Mean Time.....................................................

 

Go, Go, Go Moola Nova (YEAH, BABY)!!!!!!!

[Wiljor]

Feeling optimistic indeed my good friend Synopsis, urgency is in the air. The global community wants a piece of the action and although things seem to be chugging along we are definitely heading in the right direction. 

[boosterbglee]

  I think we can.....I think we can........said the little DV Boat!

[Synopsis]

34 minutes ago, Wiljor said:

Feeling optimistic indeed my good friend Synopsis, urgency is in the air. The global community wants a piece of the action and although things seem to be chugging along we are definitely heading in the right direction. 

 

I agree, Wiljor! Things appear to be getting better and improving faster on the dimensions necessary to sustain economic growth in Iraq. I can't imagine it will be too much longer before most of the surrounding countries and many major world countries are fully engaged in Iraq's economy! 

[Wiljor]

2 hours ago, Synopsis said:

 

I agree, Wiljor! Things appear to be getting better and improving faster on the dimensions necessary to sustain economic growth in Iraq. I can't imagine it will be too much longer before most of the surrounding countries and many major world countries are fully engaged in Iraq's economy! 

 

Yep, heck, Rome wasn't built in a day