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Iraq is witnessing significant economic events during the year 2017


Butifldrm
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Iraq is witnessing significant economic events during the year 2017
 

 

 

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Basra International Fair

Economy News Baghdad:

The economic events witnessed by Iraq during the current year, but remain three prominent events are the opening of the Saudi Arabia, which represents the participation of many companies in Baghdad and Basra, and the severance of trade relations with the Kurdistan region through the closure of border crossings with Turkey and Iran and the signing of Iraq and France contract for the construction of the Baghdad Metro project And Basra.

The trade movement did not differ from the previous year, as the markets witnessed stability with inflation remaining at 2%, in addition to the fact that the domestic industry has not been activated to counter random imports.

In the year 2017, the Iraqi banking sector is considered the most active, as it began the project to settle the salaries of the state employees of about 4 million people in 15 banks, and the Central Bank has taken a new policy was open to foreign banks as the Security Council hosted the Governor of the Central Bank on the links to discuss the subject Laundering and combating terrorism as well as organizing the Association of Private Banks for a banking conference in Washington to open new horizons with correspondent banks and meet with the IMF and the World Bank in addition to the US Treasury.

The Iraqi Trade Bank opened a representative office in Dubai and completed the opening of a branch in Saudi Arabia to improve trade between the two countries. Two private banks want to open two branches in Saudi Arabia.

And the granting of a number of private banks and one government bank of 8 billion dinars for the rehabilitation of 21 yards in Baghdad and began work, which will end in the next six months.

In the transport sector, the Iraqi airspace witnessed the passage of a large number of aircraft, namely the UAE aviation, which allowed passage through the Iraqi airspace as a result of the security improvement. the world.

In the ground transport, the French company "Alstom" signed a memorandum of understanding with Iraq to establish a suspended metro line in Baghdad, and two lines in Basra in the south of the country. The agreements were signed during the meeting of the Council of Iraqi-French Affairs, in the presence of the French Minister of State for Foreign Affairs Jean-Baptiste Limoin and 23 French companies. The project aims to reduce the traffic crisis in Baghdad and Basra.

"Over the next five years, a 20-kilometer-long metro will be built in Baghdad," said Mark Grost, the company's director in Iraq. "The equipment will be provided to carry out the railways and engineering works that will be launched from Mustansiriya (east) to the old Muthanna airport" in western Baghdad.

The cost of this work is expected to be between $ 2.1 billion and $ 2.5 billion, ensuring the connection of the two sides of Baghdad through the Sarafiya bridge in 2023.

In the oil sector, Iraq and Kuwait agreed to export 50 cubic meters per day of gas associated with production to gradually increase to 200 cubic meters per day. The Ministry of Oil also decided to set up a pipeline to export oil to Turkey parallel to the old line. Shell announced withdrawal from the Majnoon oil field, To produce gas.

The Iraqi economic convergence in the field of oil after several visits to the Saudi Oil Minister to Baghdad to raise the price of the price of a barrel of oil to 66.52 dollars a barrel.

Baghdad has witnessed the Baghdad International Fair, which participated for the first time 60 Saudi companies

and was also decided to open the border crossings between Iraq and Saudi Arabia. Views 883   Date Added 30/12/2017

 

http://economy-news.net/content.php?id=10372

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5 minutes ago, Wiljor said:

Good morning Butifldrm, and, a very HAPPY NEW YEAR  :twothumbs:

Iraq is inching ever so close to becoming an economic powerhouse, now, if we can only see the elusive HCL I believe we could be home free. 

 

Buenas Dias DV, que tengas un día espectacular :tiphat:

Today works for me

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5 hours ago, Wiljor said:

Good morning Butifldrm, and, a very HAPPY NEW YEAR  :twothumbs:

Iraq is inching ever so close to becoming an economic powerhouse, now, if we can only see the elusive HCL I believe we could be home free. 

 

Buenas Dias DV, que tengas un día espectacular :tiphat:

Wiljor,  trust all is well  my friend. Looking for a Happy New Year and BIG money.

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Iraq enters the year 2018 in the quiver of benefits and challenges, the most important of which is the elections and donor conference

 

 From 2017-12-31 at 08:52 (Baghdad time)

etrt.jpg

Baghdad Mawazine News

The second is the real opening up to the Arab world through the consolidation of relations with Saudi Arabia and the opening of the border with Saudi Arabia and Jordan, And the third bypass the referendum of the Kurdistan region and prevent the division of Iraq.

The most prominent benefits next year, according to the Iraqi Ministry of Planning spokesman for its spokesman Abdul-Zahra al-Hindawi told Mawazine News is the development plans developed and announced by the Minister of Planning and Minister of Commerce and Agency d. Salman al-Jumaili detailed the donor conference.

The most prominent of these plans and benefits:

• Launching the five-year development plan 2018-2022 prepared by the Ministry of Planning

• Launching the second edition of the Poverty Reduction Strategy for the years 2018-2022

• Adoption of the general budget, which was described as austerity budget

• Launching Iraq's Vision for Sustainable Development 2030 in line with UN guidelines

• Launch survey results and assess damage to liberated areas

• Launching the national document of the reconstruction and development plan for liberated areas 2018-2027 at an initial cost of 100 billion dollars

• The International Donor Conference was held in Kuwait in mid-February 2018

• Holding general elections and provincial council elections on 12 May

But there are other challenges imposed by developments, including the disintegration of the international coalition .. The signs of this began with the withdrawal of Australia and Italy and impose the sovereignty of the Iraqi state and determine the future of popular mobilization and raise the slogan of burying guns in cement

The budget is a detailed, no matter how the government can deal with the challenges of this year, which will include the implementation of the conditions of the Bank and the International Monetary Fund on Iraq, which was put in exchange for lending to fill the budget deficit due to low oil prices as the budget deficit austerity, according to documents 22 trillion and 782 million and 913 thousand And 506 dinars; it is a belt-tightening year.

And through the window of this budget the rest of the challenges facing the first is how to restore life to the areas of Naqbha calling. The danger of leaving towns and villages with its inhabitants without rebuilding and rebuilding society means that other extremist radical groups can emerge.

One of the most important challenges of the year related to this challenge is the upcoming donors' conference in Kuwait in February, an opportunity to mobilize the international community to finance part of the reconstruction.

The second challenge is linked to reaching an agreement on the sovereignty of the Iraqi state in carrying weapons and the future of popular mobilization and the role of some factions that receive orders from outside the framework of the governmental security system. It seems that the last religious reference letter facilitated Abadi's mission towards achieving the principle of burying guns in cement, Of the state weapon.

The fourth challenge passes through the lost road map between Baghdad and Arbil. The scene needs a firm foundation for a dialogue that will close the door to the Kurdish exclusion and prove the unity of the country while preserving the rights of the Kurds under the sovereignty of the state and its federal authorities.

The fifth challenge ends with the ballot boxes for elections that are expected to give birth to a sound political process that is not based on sectarian, ethnic or regionalism.

Some of these challenges are related to each other, such as the game of open galaxies. The elections scheduled for next May could become an opportunity to correct the course or consolidate the discrimination, while the question arises about the possibility of displaced people to participate in it. This question is undoubtedly linked to the results of the donor conference in Kuwait. The duty to rehabilitate the community and address the social rift that he sought to achieve.

While the title of anti-corruption goes through all of these challenges as a criterion between failure and success

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2018/01/02 (00:01 PM)   -   Number of readings: 221   -   Number (4101)
 
 
Contracts and agreements .. The most important economic (range) follow-up for the year 2017
Contracts and agreements .. The most important economic (range) follow-up for the year 2017



 Baghdad / Zahraa al-Jassim 
 

Exit Iraq from the seventh item and open the atmosphere are the two most prominent events

 

With the important political events that took place in 2017, including the victory of Iraq to bring out an organization from the areas he controlled in 2014, the economic events were no less important than the "(range) role in the follow-up of many files for the oil sector - Industry - Agriculture Tourism - Transport, in addition to the file of the banking sector, which witnessed a clear development through a number of decisions and procedures reflected clearly on its performance.


Although the impact of oil was clear on the overall economic events in the world with the continued freeze of the Organization of the Petroleum Exporting Countries, which has clearly contributed to increase prices to the highest level in two years, Iraq has continued to develop its fields and its oil, where he called for companies to discover other border patches, 7 billion for the ten months of 2017, which contributed to reducing the proportion of the deficit forecast for the budget of 2018, which is still subject to discussions and differences between the blocks inside the parliament, the seal of the year by lifting the embargo on the Iraqi airspace, and Iraq 
out of Chapter VII .. 2017 Exit the chapter the seventh 
where he acknowledged m Council of International Security in late 2017, that Iraq and in another of its obligations regarding the decisions of the seventh item, which is destined to provide opportunities for encouraging foreign investment in Iraq after more than forty years of great conflicts and the decline in economic development and progress, and will launch money.


Oil 
2017 extension of oil pipelines call for companies to invest and increase revenues 
The Ministry of Oil in 2017 called on international companies to invest through the implementation of a project to extend a new pipeline for oil exports from the fields of Kirkuk to the Turkish border, and invited German companies specializing in the oil and gas industry to participate in projects The development of the oil and gas industry, with the call for foreign and Arab companies to invest in this sector, with the signing of memorandums of understanding and several contracts for cooperation between Iraq and other countries in the oil field. 
Oil Minister Jabbar al-Luaibi on 27-11-2017 called on foreign companies to offer oil and gas exploration in 9 border points, stressing that it is an important step towards adopting a new commercial model and financial terms different from the previous licensing contracts. He also announced that his ministry has achieved financial revenues Amounted to 48.880 billion dollars, an increase of 7 billion in only 10 months of the year.


2017 witnessed a marked decline in the budget deficit for the first time 
The parliamentary financial revealed a decrease in the budget deficit for the year 2018 by 13 trillion dinars after 27 trillion, because of the recommendations of the International Monetary Fund, which put Iraq in the right way in the management of state funds and government expenditure pressure, Oil than expected, in addition to the growing sources of financial revenues in the budget, and the optimization of non-oil resources.


The implementation of the "e-government 2017 
has begun the Ministry of Communications, the implementation of the phases of the project," e-government ", which links the state departments each other via the Internet spider, which contributes to the paperless way it and reduce the operating expenses of the state and the general civil interests by not less than 3-5% Of GDP, as confirmed by a financial adviser.


Investment
The reconstruction of the liberated areas was one of the topics that were highlighted intensively and continuously. At a time when the United States and the international community were working to secure grants for the reconstruction of liberated Iraqi cities, it was worth more than $ 115 billion. Reconstruction grants exceeded $ 115 billion , And showed that the opportunities for foreign investment in Iraq is latent and long-term "As the country holds huge oil resources with the need for large reconstruction projects, in the hope that this will be achieved after the conference of donor countries to be held early next year, the range also followed the positive changes in economic relations between Iraq and Saudi Arabia and the Saudi opening to Iraq, Al-Falih after several visits that the two countries will develop appropriate mechanisms to achieve economic partnership, and with the opening of border crossings headed more than 44 Saudi investment companies to participate strongly in the Baghdad International Fair in preparation for contributing to the reconstruction process.


File water 
A severe water crisis hit the Iraqi provinces 2017 On 29-11-2017 A report for "(range) that the acute water crisis that hit most of the Iraqi provinces affected by the concerned, on large areas of agricultural land, while the heroes provincial councils that are trying to acquire on water quotas in various ways without taking into account the neighboring provinces rights. 
as instructed the Minister of resources impact the implementation of a project to invest in water flowing from Iran in 2017, at the time of Agriculture and parliamentary water announced near the start a project to invest in water flowing from the border areas with Iran, which will be in the form of a channel to assemble Water inside the Iraqi border to solve the water problem by securing the quantities to be used for drinking and agriculture, an expert pointed out that the first five - year plan for Iraq is the tasks of activating the productive sectors such as agriculture and solve the water crisis.


Transport file 
open skies and seek to buy planes to increase sea and land ports revenue was the most prominent events of the transport sector for the year 2017, Where the Ministry of Transport confirmed that the aircraft Ukrainian the "15 aircraft", which was agreed upon in a way the lease will enter service next year, after the completion of administrative procedures and offer The Aviation Authority confirmed that the benefits of opening the Iraqi airspace will include several economic sectors and return to the state treasury with financial resources estimated at 70 million dollars annually, which is maximizing the resources of the non-oil state.
Between the last report of the Border Crossings Authority, that the volume of revenues received from these outlets amounted to 60 billion dinars in the month of November last year, a significant increase from the previous year. The lifting of the embargo on Iraqi airspace after the closure of four years, as it was very important to increase financial revenue To the Ministry of Transport and the Aviation Authority has indicated that the benefits of opening the Iraqi airspace will include multiple economic sectors.


The file of the banking sector 
meetings, including several officials and specialists in the banking sector followed by the range, as was the most important reports in 2017/12/28, where the first time Rafidain Bank ATM service to withdraw money from anywhere, which was considered an economist an important step in the direction While continuing to grant loans to various groups of society, in addition to the central announcement of the establishment of a loan fund that can grant 10% loan to finance the infrastructure projects of the country, while working to settle salaries for employees in the private and public sectors of economic development, with the announcement of a new project To provide d To local banks 10-25, with Iraq issuing sovereign bonds for the first time to deal with the global capital market.


Wishes for 2018. 
Finally , with the relative improvement in electricity after the application of the government system of privatization despite repeated them objections, obsessed with the elimination of unemployment and file external debt and loans that confirmed the International Monetary remains that it will rise to $ 132 billion next year, one of the most important concerns of the respective personnel in economic affairs , At a time when most of them call for the need to move towards maximizing non-oil resources in the hope that the year 2018 will see a recovery in this aspect, which is equivalent to the income of oil, which still depends more than 95% of the size of Iraqi budgets.

 

http://almadapaper.net/ar/news/540684/عقود-واتفاقات-أهم-متابعات--المدى--الاقتص

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Here is the translated page for the link above from Butifldrm:

 

2018/01/02 (00:01 PM)   -   Number of readings: 340   -   Number (4101)
 
 
Contracts and agreements .. The most important economic (range) follow-up for the year 2017
Contracts and agreements .. The most important economic (range) follow-up for the year 2017



 Baghdad / Zahraa al-Jassim 
 

Exit Iraq from the seventh item and open the atmosphere are the two most prominent events

 

With the important political events that took place in 2017, including the victory of Iraq to bring out an organization from the areas he controlled in 2014, the economic events were no less important than the "(range) role in the follow-up of many files for the oil sector - Industry - Agriculture Tourism - Transport, in addition to the file of the banking sector, which witnessed a clear development through a number of decisions and procedures reflected clearly on its performance.


Although the impact of oil was clear on the overall economic events in the world with the continued freeze of the Organization of the Petroleum Exporting Countries, which has clearly contributed to increase prices to the highest level in two years, Iraq has continued to develop its fields and its oil, where he called for companies to discover other border patches, 7 billion for the ten months of 2017, which contributed to reducing the proportion of the deficit forecast for the budget of 2018, which is still subject to discussions and differences between the blocks inside the parliament, the seal of the year by lifting the embargo on the Iraqi airspace, and Iraq 
out of Chapter VII .. 2017 Exit the chapter the seventh 
where he acknowledged m Council of International Security in late 2017, that Iraq and in another of its obligations regarding the decisions of the seventh item, which is destined to provide opportunities for encouraging foreign investment in Iraq after more than forty years of great conflicts and the decline in economic development and progress, and will launch money.


Oil 
2017 extension of oil pipelines call for companies to invest and increase revenues 
The Ministry of Oil in 2017 called on international companies to invest through the implementation of a project to extend a new pipeline for oil exports from the fields of Kirkuk to the Turkish border, and invited German companies specializing in the oil and gas industry to participate in projects The development of the oil and gas industry, with the call for foreign and Arab companies to invest in this sector, with the signing of memorandums of understanding and several contracts for cooperation between Iraq and other countries in the oil field. 
Oil Minister Jabbar al-Luaibi on 27-11-2017 called on foreign companies to offer oil and gas exploration in 9 border points, stressing that it is an important step towards adopting a new commercial model and financial terms different from the previous licensing contracts. He also announced that his ministry has achieved financial revenues Amounted to 48.880 billion dollars, an increase of 7 billion in only 10 months of the year.


2017 witnessed a marked decline in the budget deficit for the first time 
The parliamentary financial revealed a decrease in the budget deficit for the year 2018 by 13 trillion dinars after 27 trillion, because of the recommendations of the International Monetary Fund, which put Iraq in the right way in the management of state funds and government expenditure pressure, Oil than expected, in addition to the growing sources of financial revenues in the budget, and the optimization of non-oil resources.


The implementation of the "e-government 2017 
has begun the Ministry of Communications, the implementation of the phases of the project," e-government ", which links the state departments each other via the Internet spider, which contributes to the paperless way it and reduce the operating expenses of the state and the general civil interests by not less than 3-5% Of GDP, as confirmed by a financial adviser.


Investment
The reconstruction of the liberated areas was one of the topics that were highlighted intensively and continuously. At a time when the United States and the international community were working to secure grants for the reconstruction of liberated Iraqi cities, it was worth more than $ 115 billion. Reconstruction grants exceeded $ 115 billion , And showed that the opportunities for foreign investment in Iraq is latent and long-term "As the country holds huge oil resources with the need for large reconstruction projects, in the hope that this will be achieved after the conference of donor countries to be held early next year, the range also followed the positive changes in economic relations between Iraq and Saudi Arabia and the Saudi opening to Iraq, Al-Falih after several visits that the two countries will develop appropriate mechanisms to achieve economic partnership, and with the opening of border crossings headed more than 44 Saudi investment companies to participate strongly in the Baghdad International Fair in preparation for contributing to the reconstruction process.


File water 
A severe water crisis hit the Iraqi provinces 2017 On 29-11-2017 A report for "(range) that the acute water crisis that hit most of the Iraqi provinces affected by the concerned, on large areas of agricultural land, while the heroes provincial councils that are trying to acquire on water quotas in various ways without taking into account the neighboring provinces rights. 
as instructed the Minister of resources impact the implementation of a project to invest in water flowing from Iran in 2017, at the time of Agriculture and parliamentary water announced near the start a project to invest in water flowing from the border areas with Iran, which will be in the form of a channel to assemble Water inside the Iraqi border to solve the water problem by securing the quantities to be used for drinking and agriculture, an expert pointed out that the first five - year plan for Iraq is the tasks of activating the productive sectors such as agriculture and solve the water crisis.


Transport file 
open skies and seek to buy planes to increase sea and land ports revenue was the most prominent events of the transport sector for the year 2017, Where the Ministry of Transport confirmed that the aircraft Ukrainian the "15 aircraft", which was agreed upon in a way the lease will enter service next year, after the completion of administrative procedures and offer The Aviation Authority confirmed that the benefits of opening the Iraqi airspace will include several economic sectors and return to the state treasury with financial resources estimated at 70 million dollars annually, which is maximizing the resources of the non-oil state.
Between the last report of the Border Crossings Authority, that the volume of revenues received from these outlets amounted to 60 billion dinars in the month of November last year, a significant increase from the previous year. The lifting of the embargo on Iraqi airspace after the closure of four years, as it was very important to increase financial revenue To the Ministry of Transport and the Aviation Authority has indicated that the benefits of opening the Iraqi airspace will include multiple economic sectors.


The file of the banking sector 
meetings, including several officials and specialists in the banking sector followed by the range, as was the most important reports in 2017/12/28, where the first time Rafidain Bank ATM service to withdraw money from anywhere, which was considered an economist an important step in the direction While continuing to grant loans to various groups of society, in addition to the central announcement of the establishment of a loan fund that can grant 10% loan to finance the infrastructure projects of the country, while working to settle salaries for employees in the private and public sectors of economic development, with the announcement of a new project To provide d To local banks 10-25, with Iraq issuing sovereign bonds for the first time to deal with the global capital market.


Wishes for 2018. 
Finally , with the relative improvement in electricity after the application of the government system of privatization despite repeated them objections, obsessed with the elimination of unemployment and file external debt and loans that confirmed the International Monetary remains that it will rise to $ 132 billion next year, one of the most important concerns of the respective personnel in economic affairs , At a time when most of them call for the need to move towards maximizing non-oil resources in the hope that the year 2018 will see a recovery in this aspect, which is equivalent to the income of oil, which still depends more than 95% of the size of Iraqi budgets.

 

http://almadapaper.net/ar/news/540684/عقود-واتفاقات-أهم-متابعات--المدى--الاقتص

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