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Economist: There is no authority for the US President over Iraq money


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Appearance of Mohammed Saleh
  

 

part One

Although the history of the middle class in Iraq belongs to the birth of the Iraqi state in 1921, it owes its rise to the spread of regular schools and higher institutes, the development of the press, the growth of social, cultural and economic associations and the enrollment of graduates in public positions, as well as the replacement of the class (Afandi) And the owners of land (and semi-feudalism), which came due to external factors and internal factors, the writer Salah Hassan al-Musawi in his study entitled (the role of the middle class in Iraq) published in (Voice of the Iraqi Left 2009)The change of logic of international politics after the First World War, the success of the Bolshevik Revolution in Russia and its implications for the East, and the fourteen principles of President Nelson declared in his address to Congress on 18 January 1918, which focused on the reconstruction of international peace and security, Stressed the importance of giving non-Turkish peoples the right to self-determination, freedom of navigation and passage of goods, and the like.

All these factors, he says, fueled the emergence of the middle class, which united with the rise of education and the emergence of the national bourgeoisie (the national market) commercial and industrial, whose main demand was the participation of power and not limited to members of the feudal class represented by tribal sheikhs, Who was educated in Astana or the West.

The transformation of the market system, as the late thinker Hanna Batato in his analysis of the social classes in Iraq, was due to the concentration of land in the hands of a small number of semi-feudal financiers to carry out another function of maintaining order. This led to the collapse of the system of self-sufficiency of the peasantry masses A wide range of rural Iraq to its cities and the agricultural community to a severe human deficiency in favor of cities and work in the service sector and fusion middle class gradually, but work on its inception.

It is interesting to note that Batato in his study of modern Iraqi society succeeded in his methodology, which came from a combination of Fibriya and Marxism, as the sociologist Ibrahim Al-Haidari says in his article entitled "Hanna Batato and Analysis of the Social Classes in Iraq." Al-Haidari concludes: In addition to the hierarchy of wealth. . . There was a religious and hierarchical hierarchy, both tribal and sectarian, along with the hierarchy of power and social status. Landowners formed the beginning of the modern state, but in the 1940s and 1950s they transformed into a class of their own. They called themselves politically for the emergence of the middle class And growing with the increase of urban population and the rise of residents in Baghdad to four times between 1922 and 1957, especially after the decomposition of the feudal clan and the flow of oil rent, which contributed to the disintegration of the rural hierarchy, and the transition to the market economy, The spread of education, health, roads and transportation has helped to give rise to a new social force: the intelligentsia or intellectuals who developed ideological factors such as the national spirit or the connection to the international or religious feeling, as well as the ability to express their views. The rise of the middle class

It is clear that the central importance of the middle class and its historical role comes from the fact that it is a transitional class in which various class or class interests are accommodated and that its historical role, as sociologist Lutfi Hatem says in his study entitled "The middle class and its role in the destruction of the Iraqi state" The historical situation in Iraq has gained importance because of the absence of the active role of the bourgeois classes and the working class, as well as the weak political effectiveness of the working class resulting from their weak economic positions due to their growth and development in the services sector.

Hatem believes that the requirement for the growth and expansion of British capital requires a state that is the political and social lever capable of protecting British interests. Hatem did not overlook the mechanisms of growth of the middle class, which he summed up with the state employees of educated elites and the access of its technical, legal, military, administrative, security and other services. Also the growth of commodity production and the role of workers and craftsmen in integrating the market system and belonging to the middle class as a broad social base supported by the rural forces of small agricultural owners Make Iraq's rural areas an added force to the middle class and expand its base.

The multiplicity of social resources of the middle class and their bearing on the legacy of the various tribal values and cultures created by the cold war have led to the inability of the middle class to build itself into a leading political force that is a unified reference because of the cultural divide that sowed the seeds of its fragmentation and division between nationalist / religious currents and secular / socialist currents.

Nevertheless, the middle class was able to meet the same noble goal of fighting the country's dependence on colonial alliances and joining under the leadership of the Free Officers, governed by the military hierarchy and revolutionary revolutionary spirit of the revolution in July 1958 and the overthrow of the monarchy and the building of the republican political system. Military Organization and Transformations of Political Thought, Urban Dialogue, August 2013).


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Renting money in unregulated markets: Iraq is a model
December 18, 2018 

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Appearance of Mohammed Saleh

It is clear that there are two cash markets working in their behavior and directions on different monetary terms and conditions and according to the rule of mutual mutual exclusion. They are interconnected markets but do not match goals and vision. The cash-flow phenomenon, in which the speed of circulation of highly concentrated cash flows increases, is a source of excess demand on the central bank's foreign reserves, which means sacrificing one of these reserves to counteract an active liquidity that was inert or choked. ). Here, monetary policy pays an added price to stability, which was triggered by interest rate shocks in the money market, in order to maintain exchange rate stability and counter the devaluation of the foreign dinar. The sacrifice of foreign reserves as a result of surpluses of local liquidity and sudden shocks to currency-triggering factors is a risk premium and additional costs to monetary policy.
Based on the above, the monetary policy of the central bank to maintain the stability of the general level of prices and reduce inflation using foreign currency as a means of defense or stabilizer nominal nominal anchor in the stability of the external value of the dinar, does not generate (in the presence of two cash markets) only cases of costs and additional charges On foreign reserves, which are inversely proportional to the rise in short-term nominal interest rates in the unregulated cash market (ie, cash leases). In the low general price level (by defending a stable exchange rate of the dinar), the unregulated cash market indicates that the real effective interest rate is the nominal interest rate on the regulated market minus the difference between the exchange rates of the dinar between the regulated and unregulated markets.
Conclusions
The monetary conditions in the market are conservative conditions of maintaining the stability of the Iraqi dinar exchange rate (although the current account deficit of the balance of payments), which is followed by the stability of interest rates in the organized market, including the monetary policy interest rate (which reflects the interest rate) Real positive about 6% per annum), which are matched by different monetary conditions in the unregulated market. On the contrary, an excessive rise in real short-term interest rates in the unregulated or illegal cash market is as high as 15% per month (representing the rate of return) Of the The exchange rate of each dinar is achieved by the parallel exchange markets, ie, resulting from the exchange rate differentials of the dinar in the exchange markets, in addition to the monetary policy interest rate in most cases. Therefore, if the monetary policy to modify the interest rate and pointed upwards in order to attract excess liquidity and sharpened from the unregulated cash markets as an alternative to the flow towards the central monetary window, this does not mean in the light of the phenomenon of inflationary prevailing only economic contraction of the real activity and in order to overcome the conditions Monetary conditions for the unregulated or informal market. If monetary policy is to sacrifice the exchange rate and stabilize it towards devaluation of the dinar and create inflationary waves, the local currency rental market will feed inflation by maintaining a positive real interest rate that is constantly generated by inflationary expectations that ultimately maximizes the cost of managing monetary policy and drains reserves Hotfile. Therefore, there is no alternative but to promote medium-term hybrid financial instruments (3 years) as central bank bonds that are to be bought through the cash market with balance-sheet interest and repayable at maturity in foreign currency and at a cash exchange rate as an alternative to cash liquidity (whenever possible).Such financial instruments and instruments are instruments of assistance that enable the imposition of behavior that is a state of consistency in the monetary conditions between the two markets (the organized money market and the unregulated market). Ie the impact on the monetary behavior of unregulated markets and their penetration of the official financial instruments hybrid and the growing market of the rental currency and its monetary conditions harmful to the cost of managing monetary policy. With this monetary consensus between the regulated and unorganized markets, monetary policy objectives are achieved in controlling excess liquidity levels and generating stable price expectations without additional costs borne by the monetary authority.

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  • yota691 changed the title to Renting money in unregulated markets: Iraq is a model
 Articles  20-12-2018  18:47  0  71
 

Renting Money in Unorganized Markets: Iraq Model - Part 2

 
   
 
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By: Dr. Appearance of Mohammed Saleh

 

A - Renting money and not agreeing in monetary terms:


The idea of the speed of circulation of money goes to the rate at which the monetary unit is exchanged through different transactions or between one transaction and another, and how many monetary units are used over a certain period of time.

The pace of money circulation at the macroeconomic level is also measured by the ratio of GDP to cash supply.

Regardless of how money is measured, it is a measure that suggests that monetary growth leads to inflation.

The speed of money circulation is a phenomenon that is realized when individuals desire to give up money or invest in it.

Otherwise, any factors that call on individuals to keep money (ie, increasing cash demand / reverse money circulation) will lead to a decline in trading speed, while greater factors of spending or investment spending increase the speed of money. 
In the Iraqi economy, there is an active phenomenon that is dominated by the movement of monetary transactions and affects the speed of circulation of money in the unregulated markets where traders, intermediaries, brokers, money-changers, and the promotion of renting money to add some of the customary legitimacy to these new illegal forms of interest.

There is a need to finance foreign trade for the private sector, which has an annual activity of about 40% of non-oil GDP per year.

The need to finance trade and foreign transactions has been increasing in the demand for funds from outside the banking system because of the lack of this system to grant cash credit to the civil sector, which does not exceed 5% of GDP and that 12% of adults can obtain cash from the market organized because of Lack of formal banking system While more than 40% of adults resort to the informal market not formal to get their credit desired cash (and through the mechanism of money and money at a high interest rate).

As the cost of cash credit by renting money in the unregulated markets by at least 15% per month as we have said. Thus, the rapid pace of cash circulation is very high towards the development of unregulated markets accompanied by the phenomenon of monetization of the currency of the catches (ie the high speed of circulation of the hooves but risks High legal).

Thus, the high rate of circulation of cash accumulated outside the banking system or the emergence of a monetary demand function for the stockholders has been inversely related to the high interest rates and according to the mechanism of cash transfer.

In other words, the speed of money circulation is directly related to high riba rates. 
But the question remains, where does this increased liquidity in circulation through the cash lease and what areas of employment most often without a little inflation because of effective cash spending? On the contrary, the economy is still constrained by high contractionary effects in terms of low growth rates, rising unemployment and a significant price recession. 
There is a case of negative inconsistency in the monetary terms ie between the role of the central bank's window to sell the foreign currency (auction) as a monetary policy and between the money leasing market as a financing behavior practiced by the private sector.

The central bank's role is to control local liquidity levels, a monetary policy that sometimes leads to a monetary contraction and a lack of liquidity if the liquidity ratios are not properly estimated or forecasted.

Here, the unregulated market is active in raising the cash rent rates in dinars, generating a surplus in demand derived on foreign currency.

As the demand for foreign currency financed by the surplus dinar is commensurate with the degree of the decline in the dinar's exchange rate against the foreign currency in the parallel markets.

Here are windfalls that exceed or cover the cost of monthly cash rent.

There is also a logical equation in the relations and economic ratios within the unregulated market itself. It is known that the lower the local currency exchange rate, the higher the interest rates.

Here, there is a negative separation or incompatibility between the regular market and the informal market within the economic system.

The informal market drains monetary policy capabilities through the cash-transfer mechanism.

Where bank interest rates are lower than interest rates in the cash lease, while the exchange rate of the dinar against foreign currency is higher in the organized market compared to the parallel market.

This is the case of monetary conditions inconsistency between the two markets (organized and unorganized).

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 Articles  20-12-2018  19:02  0  69
 

Renting Money in Unregulated Markets: Iraq Model - Part 3

 
   
 
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By: Dr. Appearance of Mohammed Saleh

 

2 - Monetary policy and the dilemma of cash lease:


It is clear that there are two cash markets working in their behavior and directions on different monetary terms and conditions and according to the rule of mutual mutual exclusion.

These are intertwined markets, but they are not compatible with goals and vision. The cash-strapping cycle, in which the speed of circulation of highly concentrated cash flows increases, is a source of excess demand for foreign central bank reserves, which means sacrificing one of those reserves to counteract an active liquidity that was idle or choked by money market levers The unregulated high interest rate is short term (usury).

Here monetary policy pays an added price to stability, which was triggered by interest rate shocks in the money market to maintain exchange rate stability and to counter the devaluation of the foreign dinar. The sacrifice of foreign reserves due to excess domestic liquidity and sudden shocks with currency leases is a risk premium and additional costs to monetary policy .

Instead of cash surpluses outside the banking system, savings deposits that serve real investment turn into a surplus monetary demand for the purpose of covering foreign exchange transactions through monetary policy windows and gates.


Based on the above, the monetary policy of the central bank to maintain the stability of the general level of prices and reduce inflation using foreign currency as a means of defense or stabilized nominal anchor in the stability of the external value of the dinar, not born (in the presence of two cash markets) only cases of costs and additional burdens not desirable on Foreign reserves, which are inversely proportional to the rise in short-term nominal interest rates in the unregulated cash market (ie, cash leases).

In the low general price level (by defending a stable exchange rate of the dinar), the unregulated cash market indicates that the real effective interest rate is the nominal interest rate on the regulated market minus the difference between the exchange rates of the dinar between the regulated and unregulated markets. Cash exchange, high leverage and the corresponding stability in the official exchange rate is only an expression of the risk premium that the monetary policy is defending from its foreign reserves to control the liquidity levels that cash leaks as cash that the central bank's monetary policy windows (auction) require.


3. Conclusions 
The monetary conditions in the market are maintained by maintaining the stability of the Iraqi dinar exchange rate (despite the persistence of the current account deficit of the balance of payments), which is also followed by the stabilization of interest rates in the organized market, including the monetary policy rate On a positive real interest rate of about 6% per annum), which is matched by different monetary conditions in the unregulated market. On the contrary, an excessive rise in real short-term interest rates in the unregulated or illegal cash market is as high as 15% Represent a rate Return to earnings per Altdharbah dinars achieved by the parallel exchange markets, ie , resulting from the exchange rate of the divisional dinars in the market exchange plus standard monetary policy interest rate clicks of ).

Therefore, if the monetary policy to modify the interest rate and pointed upwards in order to attract excess liquidity and sharpened from the unregulated cash markets as an alternative to the flow towards the central monetary window, this does not mean in the light of the phenomenon of inflationary prevailing only economic contraction of the real activity and in order to overcome the conditions Monetary conditions for the unregulated or informal market.

If monetary policy is to sacrifice the exchange rate and stabilize it towards devaluation of the dinar and create inflationary waves, the local currency rental market will feed inflation by maintaining a positive real interest rate that is constantly generated by inflationary expectations that ultimately maximizes the cost of managing monetary policy and drains reserves Therefore, there is no alternative but to promote medium-term hybrid financial instruments (three years) as central bank bonds to be bought through the cash market with balance-sheet interest and payable at maturity in foreign currency and at a balance-sheet exchange rate as an alternative to cash What was possible).

Such financial instruments and instruments are instruments of assistance that enable the imposition of behavior that is a state of consistency in the monetary conditions between the two markets (the organized money market and the unregulated market).

Ie, the impact on the monetary behavior of unregulated markets and their penetration into the formal financial instruments of the hybrid and the growing market of the leaked currency and its adverse monetary conditions on the cost of managing monetary policy. In this monetary consensus between the regulated and unorganized markets, monetary policy objectives are achieved in controlling excess liquidity levels and generating stable price expectations Additional costs borne by the monetary authority.

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 Articles  19-12-2018  18:30  0  738
 

Rise and Fall of the Middle Class

 
   
 
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By: Dr. Appearance of Mohammed Saleh

 


(C) The economic alternative: the new Marxist-Marxist model


The liberal-rent family has not emerged between the market and the state in Iraq for a decade, but a unique model that reinforces integration into the global consumer market and the globalization of consumerism and the conditions of democratic political transition, which requires a transition from state to state - components or quotas. As it is customary in our country today).

The maximization of the non-productive exchange of oil wealth revenues, the sharing of components among the components and the loss of rental revenues in a consumer-consumption system have unfortunately created an economy that is not only capable of producing oil wealth resources, but also strengthens the consumption fueled by globalization markets, supported by relative abundance of financial accumulation Which is almost paralyzed locally and eventually leaks into foreign financial strongholds and is driven by uncertainties and hesitation in making and maintaining the local economic investment decision.


Consequently, political democracy - and maximization of consumption in accordance with low productive employment opportunities - has become a title for the vacuum of development and the loss of the country's economic future as a productive force outside the borders and determinants of oil revenues.


Political democracy does not negate an alternative economic system that replaces the current liberal consumerism and magnifies the state-production market. The objective condition of necessity in such a transition requires the following: 
first, to make a doctrinal shift in the political structure of Iraq from "state of components" - Iraqi citizenship), a concept stronger than the state - the nation itself. Iraqi citizenship is the basis for substantive composition and political affiliation for the future of democratic development in Iraq.


Second, although the new mercantile economic model reflects a strong representation of state capitalism, it has the power of partnership between the state and the market or the creation of a cooperative state, especially in countries like Iraq where the state dominates the country's main natural resources. The new Marxist tendencies, Liberal consumerism emphasizes the priority of the productive side in the economic process. Trade in accordance with the Marxist doctrine is not a ready-made import that flows from the markets of globalization; it is the production of a partnership that feeds the markets of globalization with the Iraqi national product, just as it feeds the local market with its production. The economic experiments of the Japanese economic model Ulukor and even the Chinese have been based on modern Marxist basis in which the state played a role in co-production.


The Iraqi economy in its current rent conditions is in dire need of the economic role of the state, facilitating partnership and integration of the state with private production activity, according to economic ideology and methodology contrary to the prevailing liberal consumer approach. It represents a renewed return to the concept of economic Marxism and promotion of the ideology of creative activities of the market Of joint-stock companies that operate in accordance with the principles of good corporate governance and the transition to the capitalist-mercantile system as a substitute for the current rent-to-consumer system and to work to build a strong political system He is moving away from the current "state-components" and is approaching the concept of "state-nation" and going through the substitution of "state-Iraqi citizenship" in terms of loyalty to Iraq.

D - Conclusions 
The middle class, which today accounts for nearly 60% of Iraqi society, is a fragile model of the state of political quotas and the ethnic and sectarian divide coexisting on oil revenues. Consequently, the large state (the state - the components) has become compatible with a regional consumer liberalism market that is united with the market of globalization and is alienated from it. Such a political economic pattern creates a fractured, internally displaced, middle-class middle class that looks forward to emigration. Today, an Iraqi middle class is formed in the diaspora, perhaps more in harmony with its counterparts in the country through independent means of communication. 
Accordingly, there is a correlation between market democracy and the call for the building of a new mercantile economy. We also noted the partnership between the state and the market and the replacement of the state of ethnic and ethnic components and quotas. The middle class will then establish a national democracy with a unified social fabric.

The current political-economic structure has rebuilt the middle class but is polarized in the liberal-model model, making the association weak among its ranks if not divided.

 

It is rare to find an Iraqi political party or political movement that is considered today and represents the entire middle class in return for the social and political forces in which quotas and sectarianism are based.
Therefore, the unity of the national market and its democratization, the release of its productive forces and the transformation of its behavior from a liberal consumer market to a market producing a mercantile in partnership with the state will generate the middle class as a harmonious force with a national framework. This will restore the positive role model in maximizing that class as a social, political and economic force compatible with market homogeneity and a democratic political system, But it is based on the state and Iraqi citizenship and then will change the partisan life from the parties and political movements of regional or sectarian parties to Iraqi Iddna citizenship and national identity one and belonging to Iraq and a harmonious project of the Ge Central.

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 Articles  19-12-2018  18:24  0  715
 

The rise and fall of the middle class / Part III

 
   
 
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By: Dr. Appearance of Mohammed Saleh


3 The decay of the middle class
 

Here began the stage of the negative dynamic model in suppressing the historical middle class and its organizations and depriving it of any serious human resources to join it ideologically.


In the 1980s, the Iraqi civil society underwent new struggles in which it lost its social cohesion and its inherent democratic voice by attracting large segments of the middle class outside the market to integrate into the central system of the oil state with the eastern despotism. The cities were inhabited by its occupants and workers, Its democratic capabilities and electoral funds in public goods financed by the proceeds of oil. Even worse, the state employees were militarized during the Iran-Iraq war and turned into an alien force and a public commodity in the wheels of war.


In the 1990s, cities underwent a major social transformation, unlike the central state relations of the middle-class communities (cities) and marginalization of the rural communities due to the rapid change in the state's central resources. Central government machine. And that the inflation tax paid by cities and their middle classes, which have been crushed under the weight of this tax, is still leaking in one way or another to the rural producers of the royal class, which is a low-income middle class, but which historically belongs only to the exceptional economic situation caused by the siege.


There were strong social transformations that made the middle class and its descent into the poor class by dissolving the social middle pyramid. The middle class became a class that merged with the poor class. This class consisted of about 75 percent of the population, if not more, A small, gradually leaking out by virtue of its skill and culture out of the country.


The distribution of income began to work for the benefit of rural families during the economic siege. According to the Gini coefficient, the distribution of income was transferred from 32 percent of the urban population to about 40 percent, which meant that the deterioration in the level of equality Began to work for the rural interest at the expense of the middle class. The Gini coefficient of the countryside was 36 percent, instead of 40 percent, which meant a change in social and economic relations that withdrew from the middle class in the city to the rural land class.


As a result, the countryside has become a political and military weight, so oil and the rise of the middle class can not meet the pre-market or capitalist economic patterns in general. The manifestations of armed violence in the Iraqi city represent a determination to marginalize the middle class. Approximately 12 million of the country's population (with agricultural labor force constituting 22 percent of the total Iraqi labor force, half of which suffers from unemployment and does not contribute to GDP by 5-7 percent) has lost its political influence and may be sources of armed violence against the city and the market. The influence of rural politics by aborting the city and the development of its historical social forces, especially the middle class, after the countryside replaced the cities as an economic power and replaced the land owners middle class, which turned into a poor class because of inflation taxes and their integration with the depletion of oil revenues.



(See: the appearance of Mohammed Saleh: oil rent and the eastern despotism, the third chapter of the book "Introduction to Political Economy of Iraq: rentier state from the central market to economic democracy," House of Wisdom 2010).

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 Articles  19-12-2018  18:28  0  719
 

Rise and Fall of the Middle Class / Part IV

 
   
 
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By: Mohamed Saleh Appearance


 
1. Economic restructuring and the middle class 


A reading of the current economic problems
Iraq could not make its way after 2003, once the totalitarian regime was replaced by the Coalition Provisional Authority or the occupation authority before it found an ideological way out of which it would consolidate its new economic structure in the international market incubator and ensure its working mechanisms that facilitate integration into the international economic and political system. Globalization, which sees the political structure (the state-market) as the basis and the alternative which is a loophole (for the nation-state) is a condition of necessity before the form of the next state crystallizes and describes its political structure. There is an ideological clash between the continuation of the "state- And the establishment of the institutions of the modern democratic state and the creation of an authority capable of protecting that nation as a nation by its political and ethnic composition and possessing the ability to integrate into the international economic system (globalization), as noted above.

It is impossible for any developing country in the global economic system such as Iraq to enjoy a democratic system first and its political structure based on a second nation-state. At the same time, it aspires to integrate into the international economic system, ). Globalization in the formation of a democratic political structure, especially in the Third World, is an expression of small or partial federations that fulfill their political functions within the state-market component rather than the nation-state and the requirements of international economic interdependence. Thus, the construction of the political state, which was founded on the concept of "nation-state" since 1921, was met with the condition that it is necessary to build the state in the system of peripheral nations integrated into the global trans-sovereign market. Takes a democratic form in which political liberalism coincides with economic liberalism.


The Coalition Provisional Authority has found a way out of the "impossible third" to find a political structure that conforms to the concept of "democracy-globalization" and proposes a suitable alternative that eliminates the concept of "nation-nation" Is the social contract to shape the future of the country's political-democratic, which cuts the way for the nation-states as a political system of the modern state and at the same time the ability to shift to political dictatorship and seize political power easily and easily. ) Or 2003 on the basis of sectarian and ethnic components to a degree that surpasses the component of citizenship and in line with the ethnic or sectarian geography on the ground.


As the oil wealth is the natural sovereign monopolistic resource that is surrounded by the central economic power of the state and represents between 45-55% of the GDP of Iraq and more than 95% of the resources of the federal budget, it must be determined by the form of the economic system and then the paths of economic policy In the context of the capitalist state capitalism in order to maintain a free market system that represents a free liberal power outside the state and surrounds the state according to the principles of balance of interests without developing a development partnership to achieve the goals of economic progress through the interconnection of the total capital interests (state and market).


 Thus, the "state-components" were able to characterize the framework of its new economic system as a "liberal" system as an alternative to the economic system of the state-state, ie, the centralized system of state capitalism. And its financial, monetary, commercial and operational trends, as a consuming force or serving liberal consumption in fragile mechanics from the global market.


B - The Problem of Rebuilding the Middle Class 
The rentier state, which currently hosts half of the Iraqi labor force has not given up nearly 5 million officials in one way or another because it is a big country that is working to re-establish the middle class and regain its breathing through rent employment. In the face of a constituent state and an internally displaced market linked to the markets of globalization, a major distortion is the rebuilding of the middle class, which has unfortunately been deeply split ethnically or culturally and has not been united as long as the market can not generate an integrated social fabric because it is a consumer market that operates in a liberal and regional sense. As an active force and a positive dynamic model for building the middle class that leads the country's economic, political and social future.

 

See the appearance / Mohammed Saleh / oil revenue and the eastern despotism: the third chapter of the book ((Introduction to the political economy of Iraq: the state rent - from economic centralism to market democracy)).

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US monetary policy hawks and doves struggle

Tuesday 22 January 2019 12

US monetary policy hawks and doves struggle

 
Appearance of Mohammed Saleh
 

There is no choice for the US Reserve Bank 

But to face the fears of the economic future of America, namely the fear of a node exceeded the annual inflation rate target limits of 2 percent, while unemployment fell to the lowest level in twenty years, did not exceed three and seven by ten percent.

US monetary policy aims to raise interest rates according to the principle of gradualism, now the basis of the formation of the Federal Reserve doctrine or the so-called "New Powell Doctrine" in relation to the current Federal Reserve Chairman,

Powell's doctrine is to absorb the pressures of surplus demand to stabilize prices and contain the risks of inflation, whose expectations bear the seeds of recession at the end
The end.
He raised US interest rates and, according to Powell's progressive doctrine, announced by Federal Reserve Chairman Jerm I. Powell himself in his famous speech on August 23, 2018, at the annual conference of central bankers at the Jackson Hole Forum in the US state of Wyoming. Deliberate gradual increase of US interest rates.
So we were not surprised by the assertions of Jeremy Powell on the fourth of January 2019 that he is determined to follow his policy of monetary tightening even if President Trump asked him to resign from his post ... !!, that after accusing US President Jeremy Powell personally that he harmed the US economy By raising interest rates three times in 2018, causing a slowdown in economic growth in the United States, Trump says in a bid to curb inflation.
The central bank's fear in the United States is the rapid entry of the US economy into the problems of inflation spiral and the pursuit of nominal wages of high prices to end the stagflation Stagflation on the pattern of happened in the seventies of the century
the past.
President Trump has become the driving force of another camp in the direction of monetary policy, dubbed the Dovish Camp, in which he aspires to have a accommodative, accommodative and accommodative monetary policy of economic growth, which is based on sustained growth rates through the adoption of truly low interest rates Exercise of facilitation policy
Quantitative quantification. 
President Trump's tax-cutting program in 2018 has shielded America from the global economic recession, which will play a vital role in activating effective demand, sustaining production and economic growth, at a time when the US-led trade war against China, the European Union and other nations has weakened Confidence in the US economy confirmed by the Standard & Poor's S & P 500 has fallen to more than 10 percent over the past two months, while the outlook for US growth has weakened and receded. 
Progressive. The yield rates between short- and long-term (10-year) bonds also took a downward turn before the recession began and the difference between returnees could reach zero, investors say. 
Finally, he notes that the US president is still betting on low oil prices to ease international economic tension and the prospects of the global economic recession caused by the Trump trade wars by recycling oil surpluses or price differentials for the benefit of the parties to the global trade conflict and at the expense of the revenues of the group of oil exporting countries. 
At the same time, Trump stresses that the Federal Reserve is aware of the importance of the role of the decline in oil prices and the impact on the composition of the general level of prices and then slowed inflation due to stagnant markets 
Oil.
Thus, President Trump 's signals and policies in economic wars, namely, the war of trade and the management of the oil price war, on the other hand, are the balance of parity in the world economy among the major powers in absorbing the commercial war lessons that bear the weight of the oil - exporting countries to pay compensation The cheap oil trade war.
Thus, President Trump has given the right to defend himself as a goblin doves in the fight against interest rates against the policy of Germ Powell and hawkish hawk in the Federal Reserve, which maintains interest rates.
Here, Germaine Powell tries to be a vanguard for President Trump and not as a follower of Kowtow. In addition, the existence of central banks is not necessarily (as the London Economist says recently) to strengthen or support the conditions of the stock and bond markets, those markets that are subject to fluctuations and animations for reasons not to the central bank hand
In which. 
In conclusion, we find that the correct balance in front of Mr. Jerome Powell, President of the US Reserve Bank is to adopt a principle or doctrine in the monetary policy of the United States is akin to moderation or moderation and is usually called centrist, ie the principle of keeping sticks from the center of interest rates without causing a galvanic threat of continuing Raising interest rates in 2019 based on many misleading predictions
Times.
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I keep asking myself what germs does Powell have or is there a specific germ named Powell? Did not think you could be more hawkish than a hawk but apparently, a hawkish hawk is above a hawk. Are there higher levels If you announce something then yourself announces it. Me myself and i, all three of us announced the famous statement today by myself. From the article, Powell is germane to kowtowing to the President.                                                             

 

Inquiring minds want to know.

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  • yota691 changed the title to The problem of international economic opposites

The problem of international economic opposites

Saturday 02 February 2019 49

The problem of international economic opposites

 
Dr.. Appearance of Mohammed Saleh 
 
 
A question came from a well-known Iraqi parliamentarian as follows: 
I read your wonderful article (The New Cold War: The War of Diversification of the Chinese Currency). Before that, I was thinking about the question of China's adoption or its participation from countries regarding the alternative currency of the dollar. It stood before me to imagine how they can work against the dollar and weaken it or fall it as a difficult currency. Most of these countries are holding US bonds and a surplus in dollars (as you mentioned). China has 3.1 trillion reserves. This question I did not understand? How can these countries hit the dollar, which represents the cornerstone of their economy, considering their holdings of dollars and bonds and other things to know? The other thing is that it is known that America prints (exports) the dollar without covering it with gold. What is it that prevents America from exporting its currency constantly and dealing with its deficit? I would be grateful if you could clarify these two things as soon as possible. 
 
 
Answer: 
 
US financial influence has been inherited since the United States won World War II and its role in establishing the International Monetary Fund and World Bank system in 1945 as multilateral international financial institutions or so-called Bretton Woods. The international monetary system has been linked to the US dollar and made it an international reserve currency (boosted by gold) to meet the needs of world trade and the stabilization of exchange systems and their stability in the currency of the dollar as a strong stable international currency linked to gold and on the basis that one ounce of gold equals 35 US dollars 24-caliber concepts prevailing in the Iraqi gold market). At a time when the gross domestic product of the United States exceeded half the world's gross output on the day that the IMF system emerged. In the middle of August 1971, America decided to stop the conversion of the dollar to gold and at the same time expressed its willingness to exchange the dollar (which is in the hands of countries) for US goods or services or US government bonds or any rights Are permitted to be owned or permitted to be owned within the United States itself. So far, the dollar has dominated more than 80% of global trade and international economic exchanges and is also dominated by more than 60% of global bank loans and more than a third of official state reserves. Although the United States' gross domestic product (GDP) currently does not exceed 26% of world income or output, the United States has maintained its control of the international financial payment system with high efficiency, which the world is still complying with. So far, the dollar has dominated more than 80% of global trade and international economic exchanges and is also dominated by more than 60% of global bank loans and more than a third of official state reserves. Although the United States' gross domestic product (GDP) currently does not exceed 26% of world income or output, the United States has maintained its control of the international financial payment system with high efficiency, which the world is still complying with. So far, the dollar has dominated more than 80% of global trade and international economic exchanges and is also dominated by more than 60% of global bank loans and more than a third of official state reserves. Although the United States' gross domestic product (GDP) currently does not exceed 26% of world income or output, the United States has maintained its control of the international financial payment system with high efficiency, which the world is still complying with. 
 
The financial influence of the United States allowed the world to absorb profits and surpluses from the economies of other countries. US currency flows and their ongoing transformation into investments within America are parallel to their technological and military influence. Just as the role of energy and international oil policy has been replaced as a double influence power, its effectiveness has become more effective since the suspension of the IMF system, the introduction of nationalization policies in the 1970s, and the liberalization of oil prices to take high levels that could increase demand for the dollar and cover oil payments. Here, the oil payments system and the liberalization of its related transactions have been a constantly attractive way in the global demand for the US currency because the international oil market has been dealing with the dollar since its inception (before World War I). While the new US oil / financial influence generated another direct impact on the global banking system by using and recycling surpluses of oil revenues to achieve additional financial accumulations called the petrodollar phenomenon, especially in the past four decades to plunge the world into the features of crisis called the international debt crisis. The petrodollar surplus has been lent to the so-called fiscal deficit countries and the emergence of the global debt crisis, which has been plagued by problems since the late 1970s until today, accompanied by high interest rates through Stagflation, especially in the last three decades of the last century. While the US banking system in Europe or the Eurodollar market has recycled the oil surpluses and lent them as banks and financial institutions to grant continuous loans to all third world countries and others which developed as a European dollar system with the accumulation of petrodollar surpluses. The United States has also tied its trading partners with surplus trade accounts to the temptation to invest in US government bonds. Here, the US trade deficit with either Japan or the surplus countries and then China has turned into a surplus in the capital account of the US balance of payments. The trade surplus of the surplus countries has largely turned into financial investments in the US bond market, which has generated the dollar itself in a US economic cycle that begins with a trade deficit and ends with a balance-of-payments capital surplus that may last until the end of the existing international monetary system. The United States has also tied its trading partners with surplus trade accounts to the temptation to invest in US government bonds. Here, the US trade deficit with either Japan or the surplus countries and then China has turned into a surplus in the capital account of the US balance of payments. The trade surplus of the surplus countries has largely turned into financial investments in the US bond market, which has generated the dollar itself in a US economic cycle that begins with a trade deficit and ends with a balance-of-payments capital surplus that may last until the end of the existing international monetary system. The United States has also tied its trading partners with surplus trade accounts to the temptation to invest in US government bonds. Here, the US trade deficit with either Japan or the surplus countries and then China has turned into a surplus in the capital account of the US balance of payments. The trade surplus of the surplus countries has largely turned into financial investments in the US bond market, which has generated the dollar itself in a US economic cycle that begins with a trade deficit and ends with a balance-of-payments capital surplus that may last until the end of the existing international monetary system. 
The world was truly immersed in an almost monolithic monolithic system imposed by the conditions of the victor in World War II and reinforced by unilateral polarization since the late twentieth century. The United States is now issuing its currency most often for the world to lend to the US government their financial surpluses with the United States by exchanging US Treasuries, a US government borrowing of the US dollar in cash, the exchange of surplus dollars by other countries with US bonds to fill the US budget deficit. Thus, the United States has become a currency exporter and importer of goods and services, especially capital-intensive commodities, in return for exporting labor-intensive goods and services to ensure a high level of employment and fighting unemployment, which is called the "alien phenomenon" (Leontief Paradox).
The ratio of US debt to gross domestic product currently stands at 105%, from 1940 to 2017, an average of 61.7%. As the US banking system 
Financial institutions in particular and the outside world generally buy those bonds in dollars for interest 
Guaranteed payments are distributed among 30% of US banks and financial institutions 70% of different countries of the world.
Finally, a new mercantile or commercial system born of financial capitalism was born as a global imperialist phenomenon called "financial Marxism". It was the antithesis of the old mercantile trade that countries sought to achieve trade surplus because their exports of goods and services exceeded their imports. The US financial mercantile is making a capital account surplus in the US balance of payments components equivalent to or nearing the current account deficit of goods and services to the US balance of payments itself. 
In conclusion, it is a historical conflict within the US balance of payments component that epitomizes the triumph of the financial Marxism represented by the token economy of the trade economy of other nations with trade surplus generated from the production function of a real economy and serves the symbolic economy of the United States It is the global mercantile (commercial) subordination of Marxism that embodies the dominance of one pole.
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  • yota691 changed the title to Financial Advisor: Salary settlement reaches financial services for all

Financial Advisor: Salary settlement reaches financial services for all

 
Baghdad / Al-Sabah 
 
 
The financial adviser to Prime Minister Dr. The appearance of Mohammed Saleh: "For the first time at the level of banking organization in Iraq take salaries and wages and pensions and payments associated with social welfare, relief and other way through bank accounts or the settlement of salaries," pointing out that the Central Bank granted freedom to the employee and retired in choosing the bank for the purpose of settling his salary. 
He added that "Emiratisation has two main purposes: first, to identify data for real natural persons who are entitled to wages, salaries, pensions and other payments, and to represent a distinctive representation of the governance of financial management and to address the manifestations of corruption and waste of public funds; and the other is to strengthen the capabilities of financial inclusion by providing banking and financial services, To the most vulnerable segments of the community, which has never dealt with banks or dealing with the banking system.
 
Enabling savings
He pointed out that "the bank accounts of the adult population in Iraq rose from 11 percent to increase today to 25 percent, which means maximizing the cycle of income and enable savings and bank liquidity, to take their way to sustain economic activity and address the recession, as well as the granting of resettlement beneficiaries and through the role The guarantor of bank accounts open to them from the good and positive use of direct access to bank credit or loans to ensure the cash income of the home his own salary strengthens the aggregate demand and supports economic activity, especially investment, because of the increased liquidity of banking and A small amount of compactness and for the benefit of savings, which meets the need for investment through operations performed by banks. 
 
The cost of borrowing
"This reduces the cost of borrowing by shifting important economic groups from the (unorganized) financial market to the financial and banking markets, Which is a large income flowing through the banking system and its tools and mechanisms, "and may be the settlement of salaries and payments of joint stock companies and large companies from outside the government activity in a harmonious development between government resettlement and nationalization.
 
A quantum leap
"The developments in the field of payments are aimed at providing the best service to citizens and enable them to obtain products that match their daily needs, which led the Central Bank to move towards the project of settling salaries for employees and retirees," said Ahmed Kazem, In order to make a qualitative leap in financial performance serving the national economy. "
He stressed that the smart card issued 10 years ago in partnership with the public and private sectors (mixed) aimed to enable the General Pension Authority to distribute pensions safely through the electronic financial system, and reduce the proportion of manipulation and bribery, and then developed the stages of work through specialized teams follow global developments And has been providing service to more than 7.5 million cardholders with low rates of deduction, and is working in cooperation with Rafidain Bank active partner to continue to provide new services, in line with the instructions of the Central Bank to develop the system of payments and make transactions are conducted electronically.
Important step
He pointed out that "the project to settle salaries is an important step to promote the financial sector and change the form of financial transactions, and raise confidence between the citizen and the banking system."
The Central Bank of Iraq granted freedom to employees and retirees in choosing the bank for the purpose of settling his salary, which enhances competition and makes the attractions a standard for the orientation of the employee who will head towards the institution that has the most products.
"The evolution of payments enhances economic activity and creates stability in its overall operations, especially as the retail banking industry is developing to benefit the customers by settling salaries," the financial adviser said in a statement.
 
Positive results
Saleh praised the "partnership between Rafidain Bank and KI, where the first represents the public sector and the second mixed sector, and what we are concerned about the results, and we can point to the positive results of such a national partnership that strengthens the money market with new products that harmonize and the need of the family economy and move it to a better stage by adopting advanced technology National economy ".
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2019/03/02 12:38
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The appearance of Mohammed Saleh: silver .. The bones of pharaohs!

 

 

BAGHDAD /  

Appearance of Mohammed Saleh    

Ancient Egyptians believed that the skin of Egyptian gods was made of gold and that their bones were silver! Silver, like gold, has been valued for thousands of years for its beauty and worth as a precious metal, decorated with tableware, chairs and dining utensils. It has been a staple in the jewelry industry. Silver has also been used for medical purposes since Hippocrates, the father of doctors, wrote that silver has therapeutic benefits. Silver bottles to save drinking water and alcohol as liquids of corruption or rot. Today, silver has become known to reduce or eliminate the risks associated with pneumonia and the risk of resistance to large insects of traditional antibiotics. Silver was also used as a sovereign currency and on a large scale, The sterling pound, or the single pound sterling, was silver metal, and silver in France was synonymous with the meaning of criticism itself. The common denominator of criticism is the word argent which means silver. Until 1800 AD, the monetary system in the United States and Britain remained based on the so-called silver rule before it became the gold base system and then the paper monetary rule. The Anatolia region of Turkey has historically been the first region in the world to be mined before Europe followed the search for that metal in New World colonies. Silver mining moved to Bolivia, Peru, Mexico and the United States. Today 70 percent of silver During other mineral mining operations such as lead, zinc and copper. Globally, annual silver production is currently around 600 million ounces and is on the rise, while annual gold production is about 800 million ounces, but in a continuous concession.


Silver is seen as the shy sister of gold. When demand in the market rises, gold is followed by a rise in the demand for silver. Silver, like gold, leads to the function of money and the role of the store of value. Gold and silver prices have been uninterrupted throughout history, both rising and falling. , But from 1999 to 2009 exclusively (silver) marriage gold to the price separation, while the rise in gold prices globally in that period, silver prices fell significantly, during 2009 the proportion of silver prices to gold 1 to 70 It is the biggest increase in gold metal towards silver metal For the last 200 years, where the price of silver to gold by 1 to 37. The ratio of gold to silver in the crust is 1 to 16, which means that silver is cheaper than gold.The economic paradox that occurred during the recession of the recession that swept the world in the seventies of the last century, it was noted that the difference between the price difference between silver and gold is also 1 to 16 exactly, similar to the proportion of the formation of minerals on the crust, but in reverse! It is an unprecedented paradox in the economic history of the metal.


Although silver has played its role in films and photographs that have absorbed about 30 percent of the world's silver mine production, it has been observed since the advent of digital cameras that the discontinuation of the use of silver in photographs has led to a deterioration demand for silver significantly. Silver continues to play its role in other alternative industrial uses, both in the manufacture of plasma screens, the manufacture of batteries and their use as an auxiliary chemical agent in the packaging of mirrors and solar panels. 
Finally, the price of the leather of the Egyptian gods (gold) has been superior to the price of the bones of the gods (silver) since 2009 until now, as the silver price difference to gold in the global metal market today is from 1 to 60. Thus the golden skin will remain more expensive than the silver bone As the priests of the pyramids have told us since ancient times!

The obelisk

http://almasalah.com/ar/news/165136/مظهر-محمد-صالح-الفضةعظام-الآلهة-الفرعونية

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CNN. Broadcasting Economic Strangeness From Iraq - What Are The Chances Of That ...

 

 

Economic strangeness ...!

March 9, 2019 4:12 PM  Author: alzawraapaper
 
Appearance of Mohammed Saleh

Appearance of Mohammed Saleh

 

It is not surprising that we are the ones who do not sleep well before sunset or who are caught with a stupid smile that is not justified by the seriousness of the work, when you enter the axioms of our lives with sharp positions and find ourselves in front of contradictions and strange things that glow before us as surprises before they disappear in a comprehensive calm without showing the end of anything.

Other contradictions of her barbed grip endlessly.That is how the famous ***** actor and comedian Chris Rock, who was born in 1965, started the satirical TV show Life on Saturday Night, realizing the oddities of humans and explaining the contradictions of our present world. 

The strangest thing in the world is that rap music, which embodies the most famous symbols of the ***** American society, Ethnic discrimination in the struggle of black sex for freedom and equality, is the invention of a white man !.While Chris Rock observed that golf, the game of white men, especially the rich of that species, stands at the head of its heroes in the world today a black man !. 

Switzerland is a landlocked country, or rather a non-seaside country with no coastline. Its territory is divided between the Alps, the Central Plateau and the Jura Mountains. Its team has won a landslide victory in the American Navy! 

On the economic level, you will see the world behaving strangely in its behavior and actions, especially in light of the current international financial crisis and according to the following evidence:

First, some nations, still in the midst of their current economic crisis, are pursuing a policy of reducing their public expenditures and maximizing their revenues from stagnant or deteriorating sources. They forget or forget the lessons of economic history, and through them that such measures in fiscal policy deepen the financial crisis and make it worse. Especially in the short term. It is also pushing the country towards a vicious circle of deterioration in growth rates, unemployment and the so-called financial slope, which has become difficult to escape from its repercussions and emerge from the current international economic crisis. 

Second, despite the rigidity of the current information age and the accumulation of information unprecedented in the history of mankind, the number of economic crises in the last 35 years is more than the number of crises in the last 350 years!

Thirdly, financial globalization has made the money market or the stock market fun for those who want to practice financial speculation. An individual can buy oil or tons of copper from a market called the futures market without thinking that the garage of his own home can not absorb a ton of copper or even ten barrels of crude oil. And that the purchase comes in order to sell the symbol later to obtain profit margins from speculation only, regardless of the taste of oil or copper color.

Fourth, the financial products worth 850 trillion dollars today, or the so-called global symbolic economy, have real capital assets of no more than 40 trillion dollars, and the speculators immersed in the sale and purchase are still in vain to ask enough questions to the regulatory authorities in different countries of the world The systemic risks of their financial activities that are subject to the effects of government economic policy, such as the future of interest rates, exchange rates, balance of payments and the future of public debt policies and other macroeconomic variables that have a profound impact on market stability Financial and safety dealings! 

In conclusion, quantitative economic sciences continue to adopt their highly complex mathematical and mathematical models on two main assumptions: 

(1) that individuals behave rationally about their economic decisions and they (the individuals) understand the logic of these mathematical models, despite their complexity.

(2) markets are highly efficient and are working correctly to adjust or correct themselves to achieve balance or stability. But suddenly you find yourself and before the markets correct themselves that you have become liquid and that your project is suffering from bankruptcy or so-called deterioration of solvency! He is a strange world in his economic actions, and he has not been cheated by the strangeness of the long-awaited global economic crisis.

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  • yota691 changed the title to Economic Strangeness ...!
  • 2 months later...

The appearance of Mohammed Saleh for "The Covenant News": the future of Iraq to develop the private sector and economic cohesion

15/05/2019 12:31 AM
The appearance of Mohammed Saleh for "The Covenant News": the future of Iraq to develop the private sector and economic cohesion

http://alahadnews.net/index.php/permalink/156886.html

Al-Ahed News - Baghdad

The economic expert Mohammed Saleh's appearance, that Iraq's economic future, is to develop the private sector.

"There is a trend towards the cohesion of the social market economy, and it means effective partnership between the state and the private sector, and work according to the principle of utility, efficiency, profit and loss," Saleh told the newspaper.

"The job of the state is to compete with the private sector, partnership, good supervision, creating a social market, and using oil revenues for social benefit," he said.

"The market is driving development with the participation of the state and this is the future we are looking forward to, which is an ideological vision for the development plan."

Edited by 6ly410
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  • yota691 changed the title to Abdul-Mahdi adviser reveals the developments of the 2020 budget and determines the conditions to overcome the "frightening deficit"
 
 
 2019/08/27 10:03:10
 

The appearance of Mohammed Saleh, the economic adviser to the Prime Minister, on Tuesday, the latest developments of the draft budget law in 2020.

Saleh, told Twilight News, "The requests of ministries is greater than the possibilities, and when recording these requests, shows us a large budget deficit, but not this dependence, the budget is built on the existing possibilities, and be acceptable deficit, such as this year and previous years," indicating that “Draft 2020 Budget Law is still under discussion at the Ministry of Finance”.

He explained that "oil constitutes 93% of the budget imports, if the current price of oil is calculated with the increase of expenditure, certainly there will be a deficit different from the current year, but if the expenses remain the same, and oil maintained its price, there is no frightening deficit in the budget law ".

"I expect the deficit to remain the same and the price of oil will remain $ 56 a barrel," the prime minister's economic adviser said.

A member of the parliamentary Finance Committee Abdul Hadi Saadawi expected that the proportion of the budget deficit in 2020 to 72 trillion dinars, which will negatively affect the provision of services and supplies necessary for the provinces and ministries.

Saadawi attributed the increase of the deficit to "poor planning and spending a lot of money without reference to the budget, as well as the refusal of the Kurdistan region to deliver oil imports to Baghdad."

Al-Saadawi pointed out that "the deficit will increase the burdens on the government and may force it to borrow internal and external, which will be a burden on it in the coming years," usually the government's fiscal policy as "wrong because of the deliberate decisions of the Council of Ministers to spend a lot of money without reference to the draft budget In addition to the violation of the Minister of Finance to disburse funds to the Kurdistan region despite his failure to pay oil and border revenues to Baghdad, "as he put it.

It is noteworthy that Iraqi Prime Minister Adel Abdul Mahdi said earlier, that his government paid the private part of the salaries of employees of the Kurdistan region only within the framework of the federal budget.

Abdul-Mahdi said that "the government pays salaries and dues to the Kurdistan region under the budget and do not pay the rest part because the budget law obliged to deduct the corresponding amounts represented by the value of 250 thousand barrels of oil per day, and if the region does not hand over this share will be deducted from the share of the region may equivalent."

He added, "We have not received any barrels of oil from the region until today and the government does not deliver the share of the region in full, but only receive salaries and this is the right of our people in Kurdistan because they are our children."

Abdul Mahdi pointed out that "there are political differences and it is not right to make them a source of threat to community peace."

The Iraqi authorities approved the beginning of this year budget for 2019, including the re-exchange of the share of the Kurdistan region, which did not receive in 2018 because of the referendum on its independence in 2017, and was estimated between 12.7 and 17 percent of them.

The government in Baghdad has pledged to pay the salaries of all employees of the Kurdistan region in 2019, including peshmerga fighters, which has been a subject of dispute for years between Baghdad and Erbil.

Baghdad announced for the first time to pay these salaries in the event of whether or not the region to export its quota of 250 thousand barrels per day, through the company "Sumer" (an institution of the Ministry of Oil in the central government, responsible for exporting the country's oil).

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  • yota691 changed the title to Advisor Abdul-Mahdi: The footprint in electronic payment more sedate and limit manipulation
 
 
 2019/09/01 05:43:49
 

The appearance of Mohammed Saleh, the financial advisor to the Prime Minister, stressed the importance of the adoption of biometric (fingerprint) in electronic payment, being more discreet and secure in transactions and difficult to be manipulated by virtue of different from one human to another, and raise the confidence of the beneficiary of electronic payment technology, and confirms that the customer Itself the real beneficiary of the service.

Saleh said that "the adoption of biometric (fingerprint) in electronic payment is more stable and secure in financial performance, especially as the country is looking forward to the development of this detailed after witnessing a great interaction between the beneficiary citizen and mechanisms of work," pointing out that "the adoption of the fingerprint reduces cases Manipulation of all forms that may accompany the process of electronic payment, especially since the fingerprint different from one person to another and the impossibility of a similarity. "

He added that "the adoption of the work system Bassa requires the actual presence of the applicant and the drawer, and thus cases of fraud is impossible," noting that the characteristics of the fingerprint linked to the structure of the human being, and that it is part of the legal immunity for the use of funds as it exposes the fictitious personalities, as it (the fingerprint) identity of the person concerned Can be delegated in any way. "

Member of the Baghdad Economic Forum Jassem al-Aradi urged the need to be the basis of fingerprint in electronic transactions, which raise the rates of safety in dealing between human and advanced technology, as it represents a guarantor against any manipulation may be practiced in private accounts.

Advanced Technology

He pointed out the importance of "the concerned authorities to support this trend and expand its spread by adopting the best advanced technology, especially since the country has human resources capable of dealing with developments in the field of finance globally and adopted in the country," pointing out that the size of the cash Homes need secure financial mechanisms for the transfer of this block to the banking system to contribute effectively to the process of development and economic construction in all sectors.

Aradi pointed out that "the experience of a mixed financial sector and achieve tangible successes is very important and brings benefit to the national economy, especially when the work mechanisms under the supervision of the Office of Financial Supervision," stressing the importance of having national institutions capable of managing the financial sector in accordance with the mechanisms of international work for the role In attracting the global effort towards Iraq, the owner of a pristine economy is a kiss for the largest companies classified in the world.

National institutions

Between Aradi that the global smart card company, which is a national institution and a mixed sector foundations of electronic payment can be the focus of the great launch of the development of this financial joint in cooperation with the Central Bank of Iraq, the sectoral body that is responsible for supporting national institutions and the development of mechanisms and work evaluation, to be an integration in performance It results in successes that encourage the establishment of local companies exclusively to promote competition and operate in sophisticated ways.

Confidential information

He pointed out that "the national companies specialized in electronic payment is very important and can be a guarantor of confidential information of the various security services, and there are regional experiences initiated the establishment of national electronic payment companies to achieve local economic and security benefits, as happened in the Republic of Egypt, which obliges us to The salaries of the security services are settled in national institutions and within the framework of local payment cards. "

It is noteworthy that the adoption of the fingerprint during the last period was able to discover more than 30 thousand double salaries in one of the departments, especially as the company KCard, for example, carrying the system of advanced fingerprint even on the MasterCard system and provide service to seven million subscribers.

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Appearance of Mohammed Saleh: Iraq's financial situation is reassuring

Sunday 15 September 2019

 

logo_.png


Baghdad / morning
 
Certainly, the financial situation in Iraq is reassuring and the deficits that are talked about are hypothetical, and that financial sustainability is not threatened with the presence of reserves at the Central Bank of Iraq and the government estimated at $ 87 billion, as well as a surplus ranging between $ 13-12 billion and we in the last quarter From this year.
Financial Advisor to the Prime Minister d. The appearance of Mohammed Saleh said: "The deficits in the budget hypothetical, and that the financial situation of Iraq is reassuring and does not threaten financial sustainability and under control," pointing out that "Iraq in the fourth quarter of the year and there is a surplus liquidity between 13-12 billion dollars."
 
Opening balance
He added that "the public finances act according to priorities, and that the Ministry of Finance governs control of expenses, and recognizes the important thing that must be spent," stressing that in the "2018 budget there was a surplus of 20 trillion dinars, and thus a large opening balance"


He pointed out that "the fiscal deficit that is being talked about is hypothetical and not realistic, as ministries provide many requirements are taken important and required and determines the importance of disbursement according to the financial situation," pointing to the "rationalization of spending and this comes from the imperative to control liquidity."
 
Financial sustainability
He explained that "when preparing the budget requests are very large, so the figures appear large, but at the same time not all requests are taken, but are adopted important things that do not strain the country and maintain financial sustainability."


Saleh said: "The abundance of strategic crop production and cover local demand and the federal budget provided the amount of 10 trillion dinars were allocated to import from global markets, and will rotate these funds Within the joints of the national economy to activate the joint. " 

 

He explained that "the reserve of the central bank along with the reserve of the government amounted to 87 billion dollars, and this is very positive gives a great resilience to the state in the most difficult circumstances."
 
Labor market
Saleh pointed to the "need to encourage the private sector to take its right role in the management of the economy, and provide tools to activate it in a way that serves all sectors, and praised the mobility witnessed in the housing sector and its impact on the movement of the local labor market," pointing out that "the provision of funding for the private sector makes it able To activate a lot of sectors. "
 
Economic aspect
In a press statement, MP Eng. Mohamed Sheaa Al-Sudani stressed the need to focus on legislating laws that support the non-rentier state and increase the activity of the economic side by activating the industrial, agricultural, commercial and tourism sectors. Not to rely on the rentier economy in light of fluctuating oil prices and the possibility of the emergence of alternative sources 
For energy. "


Al-Sudani pointed out to the importance of activating the supervisory role of the audit and internal control departments, the bodies of the Financial Supervision Bureau and the concerned departments in the ministries to prevent the risk of corruption spreading in many parts of the economy. 

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  • yota691 changed the title to Economist: There is no authority for the US President over Iraq money

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