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What After The Central Bank Of Iraq Supports Terrorism ?


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20 minutes ago, Pitcher said:

Well her name has to P’s


Ya - After A Few Beers I Has Too P’s Also ! :o 

 
cosmo kramer drinking GIF
 
To Make Room For Some More ! :cheesehead:
 
:D  :D  :D 

 

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4 hours ago, DinarThug said:

He continued, "It is possible to resolve the crisis by relying on the Financial Management Law by resorting to temporary internal borrowing through bonds or temporary treasury bills to provide sufficient funds to secure salaries, but in the future, the entire budget sections, such as public expenditures and revenues, must be reviewed."

 

Everytime they talk about Financial Management Law, I only remember this ~ 

He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country".
"The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment."
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9 minutes ago, Thief said:

 

Everytime they talk about Financial Management Law, I only remember this ~ 

He added that "the Committee is keen to enact the law of financial administration as it gives a complete road map of the financial policy in the country in terms of management of money and cash in the state," pointing out that "the change will raise the exchange rate of the Iraqi dinar against foreign currencies while maintaining the stability of inflation In the country".
"The Commission is determined to make these changes during the next phase and not to follow the traditional methods are not appropriate at the moment."

That’s what I always think about as well! Great news all around! Wow!

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Parliamentary Finance: Adoption of the 2020 budget depends on the outcome of the OPEC meeting

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16:30 - 07/06/2020


The Parliamentary Finance Committee announced, on Sunday, that the adoption of the current budget is subject to the OPEC Plus meeting, stressing that oil prices are not stable until now.

The committee’s rapporteur, Ahmed Al-Saffar, said to “Information” that “there is a close meeting of OPEC Plus to discuss reducing the quantities of exported oil to less than 23%”, indicating that “adopting the 2020 budget requires extensive discussion with the relevant authorities, and will the Iraqi negotiator reach to raise oil sales from New or stay the same." He pointed out that "the approval of the budget depends entirely on the price of selling oil for the month of June, which is not stable."

Last Wednesday, the House of Representatives voted on a formula to restrict the government to sending the budget bill this month.
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Oh Ya - It’s Time To Play ‘Connect The Dots’ Again And Tie These Next Two Articles Together ! :o 

 

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And Who The Hell Doesn’t Luv Forrest Gump ...

 

:D  :D  :D 
 

 

 

Parliamentary Finance: The government will not be able to secure employees salaries from oil unless it reaches this price

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Localities 06/2020 2020 21:52 399    


Baghdad today - Baghdad

 

The member of the Parliamentary Finance Committee, Abdulhadi Al-Saadawi, set, on Sunday, a certain price for a barrel of oil that would enable the government to secure salaries without any deductions. 

Al-Saadawi said in an interview with him (Baghdad today), that "the new Iraqi government has not yet taken a formal decision to cut salaries or employee allowances." 

He added that "the rise in oil prices at the present time does not fully secure the salaries of employees, unless the price of a barrel rises to 50 dollars, then the government will be able to cover extraction and salaries with available revenues."

Yesterday, Saturday (06 June 2020), the economist, Hammam Al-Shamaa, affirmed the relief of the economic crisis that Iraq and the world are suffering from, indicating that oil prices will continue to rise in the coming days. 

Al-Shamaa said in an interview with (Baghdad Today) that "the rise in oil prices will be continuous, but prices are still fluctuating," noting that "the general trend of oil prices is going up." 

He pointed out that "many members of OPEC or outside it have not fully committed to reducing their production shares, including, Iraq, because of the insistence of companies that obtained licenses not to reduce the production amount." 

He explained, "The economic crisis in Iraq is beginning to go towards détente, because the global economy has started to move, despite the fact that the Corona pandemic still exists."

He pointed out that "the deficit exists even in light of the oil price reaching 56 dollars, especially after the promises made by the government of Adel Abdul Mahdi to satisfy the masses at the time," noting that "the promises and additional expenses if they are not addressed, then the deficit remains."

He continued: "With the improvement of the economic situation, I do not think there is a need to deduct the salaries of employees, with the disclosure of facts in front of the people, the economic situation is not bad, and the economic crisis is about to be fully clear." 

Iraq is suffering from an economic crisis currently, especially after the spread of the emerging Corona virus, and the significant drop in oil prices, after implementing isolation and preventive measures in most countries of the world, to prevent the spread of the virus. 

In the recent period, oil prices increased in the world, after easing restrictions, isolation and preventive measures in some countries of the world, so that oil prices continue to rise, amid signs of OPEC + countries ’readiness to extend the current cuts (9.7 million barrels per day) beyond This June.

On Friday, US light crude futures rose 0.86% to $ 37.73 a barrel, while Brent crude futures rose 1.13% to $ 40.44 a barrel, according to Bloomberg website data.

A source in one of the delegations told "Interfax" that Russia and Saudi Arabia agreed to extend the restrictions imposed on oil production, which were in effect in May and June, to include the month of July as well, after which the two sides will consider how the situation developed.

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Expert expects oil prices to stabilize at $ 50 next month

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7th June, 2020


An expert in energy affairs expected today, Sunday, the stability of oil prices at $ 50 a barrel after OPEC agreed to extend production cuts next month, attributing this to the tendency of industrialized countries to coexist with the Corona virus.

Furat al-Moussawi told Shafaq News, "All indications confirm the continued rise and recovery of oil prices due to the tendency of the world, especially the major industrialized countries such as China, Europe and Britain, to move from a comprehensive to a partial ban and to remove the ban, in addition to the world's conviction that the Corona pandemic remains and no vaccine It is for them and for the peoples to coexist with them within the preventive controls of individuals."

He added that "the countries of the world have realized that there is no escape from resuming industrial and commercial life, and serious steps have been taken in this field, such as China opening its foreign airspace with the world once a week, which contributed to the increase in energy demand."

On the recent OPEC agreement, Moussawi stressed, "It is expected that the price of a single barrel of oil will reach 50 dollars per barrel, especially after today's agreement for the OPEC group to extend production cuts next month."

Oil prices continued to rise during the last Friday trading, June 5, and to achieve other gains at the beginning of the sixth week in a row with the gradual rise in demand, and work to extend the agreement to reduce production until after the end of this month.

It is noteworthy that the prices of a barrel of oil have decreased since the outbreak of the Corona virus, which led to fears of the impact of the decline and lack of revenue on the budget of Iraq for the current year 2020 and was affected by the operational budget and the salaries of government employees and retirees.

As a result, the Parliamentary Finance Committee estimated the size of the deficit in the country's general budget for the current year at "69" trillion Iraqi dinars, describing it as an "unprecedented" deficit.

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Does the cabinet have the right to reduce rents between citizens?

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16:45 - 07/06/2020


Between the legal expert Ali Al-Tamimi, on Sunday, the legal possibility of the Council of Ministers to reduce the rates of rents concluded between property owners and citizens.

Al-Tamimi said in a statement to “Al-Maalouma”, “Law 56 of 2000, which amended the Real Estate Lease Law 87 of 1979 in paragraph 2 of Article 4 of it, authorized the Council of Ministers to increase the rates of rents,” noting that “he did not stipulate the reduction and he was not granted authority To the Council of Ministers, and perhaps this was because the dinar fell in its time significantly.

He added, "The Council of Ministers has the right to prepare a draft law that it sends to Parliament stipulating the necessity of reducing and giving the authority to the cabinet to reduce according to this law and with the presence of the Karuna pandemic, which is called force majeure or giving tenants time periods after the crisis has ended to pay the remaining rents."
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Dr.. Hasan Latif Kazim *: The Iraqi economy in the time of Corona Virus: the results of spending cuts


06/07/2020
 

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Since the days of the escalation of the debate about reducing the salaries of employees and retirees, as if the magic solution to the financial crisis in Iraq, and the discussion centered mainly on the political cost of the decision, and not the financial and economic gains for it. A number of deputies and politicians set out to defend the rights of these two groups, and all solutions were reduced to this reduction. In this article, we will try to discuss this issue in its financial, economic and political aspects, and analyze its various dimensions briefly.

 

Compound crisis

 

It is not new to say that we are facing today a complex crisis of three major crises, which are synergistic in their negative results to produce diverse and severe economic crises for the poor and vulnerable groups. 

These crises are:

Political crisis : On October 1, 2019, some governorates in southern and central Iraq witnessed youth protests, during which protesters called for political reform, confronting corruption, providing job opportunities, and improving services, and a decent life that accommodates the minimum aspirations and basic rights. The excessive violence in which young people were confronted was a milestone in the history of Iraq, as 490 demonstrators were killed and 7,783 injured, between October 2019 and May 2020, according to the United Nations Mission (UNAMI) .) . The government's actions were insufficient to overcome the crisis, which seems to be a crisis of governance that has gradually deepened, with the emergence of what we might call a "semi" state; There are:

"Semi-state", whose institutions possess the dominant parties, whose roots extend deeper than they are the institutions of the state, so the state became deep without legal, political or societal depth, but with a party depth that hijacked it away from the rationality of society and the market. While oil rents were not used to build institutions independent of society and politics, Rather, this rent became a honey that attracts ants to feed on it and sabotages the state at the same time. A "semi-private sector" that is separated with the quasi-state in a symbiotic relationship, and living on the crumbs of power tables rather than making its table, as it is a sector that does not want to be far from the rentier state, and prefers to coexist with it and work in its projects and contracts and sell goods and services to it at a high price, or by relationships Contractual suspicious of corruption at times. A "semi-civil society" that grew into a penetrating subordinate of the quasi-state and its parties, and did not possess its own sphere, but remained a prisoner of the state and its parties, and not independent of it.

 United Nations Assistance Mission for Iraq (UNAMI), Human Rights Office, Demonstrations in Iraq: The Third Update, May 23, 2020, p. 2

To continue reading, click on the following link to download the search as a PDF

Hassan Lateef Kadhim-The Iraqi economy and Corona-the results of reducing public expenditures-edited

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Baghdad today publishes the text of the draft cabinet on financing budget items

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Policy 06/2020 2020 01:10 512     


Baghdad today - Baghdad
 

Baghdad is publishing today, a draft cabinet decision on financing budget items, which is to be discussed by the Finance Committee in Parliament at the session scheduled for Monday.
 

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Required to attract serious foreign investment

Sunday 07 June 2020

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Baghdad / Imad of the Emirate
 

A governmental trend towards attracting foreign investment, as this trend will achieve economic growth and provide job opportunities that reduce unemployment that the national economy suffers from, as well as what it will provide by generating experience and training for the local workforce.

foreign investment
Among the academic, Dr. Qusai Al-Jabri, "One of the important things to note is that structural imbalances are not addressed with wrong foundations, that is, foreign investment is not based on partnerships in which the biggest positive share is in favor of the foreign investor in exchange for waste in economic resources," explaining, "because this will lead to a process Distorted, and at the same time it must begin with an investment relationship based on a strategy of economic development in gross domestic product.

He believed that "adopting the method of participation between investors (foreign and local) while preserving the national identity will lead to activating the role of national capital to integrate with foreign capital to achieve high growth rates."

He pointed out that "some types of investment may lead to deepening the unemployment situation, enhancing economic dependency and raising inflation rates, as well as shifting the economic surplus abroad, and consequently, capital accumulations are negatively affected."

"In order for the investment to achieve its economic feasibility, it is necessary to require the investment of part of the financial surpluses achieved at home to develop the project itself or to finance other investment projects with forward linkages, and background. "" he stressed.
 
"With this, foreign investment will be a catalyst for diversifying economic activity and developing the production base, which reduces pressure on the public budget in terms of spending and reduces the current account deficit. It also makes foreign investment the base for the private sector to contribute to basic industries, meaning that the foreign investor is entered into Areas that provide inputs to industries in which the private sector can invest. "

Heavy posts
Al-Jabri pointed out that the investment "will generate more labor-intensive participation than the capital intensity to absorb the existing unemployment, and that the continuous improvement of the relative advantages of the existing industries requires the establishment of training centers through which the foreign investor will build, qualify and train national capabilities to be able to bring about the technical changes necessary to enjoy these products." Competitively in the international market, which doubles domestic exports and improves the current account away from oil exports. "
He continued, "Free zones can play a role in attracting foreign investments by easing customs restrictions on the movement of trade and reducing obstacles to the movement of capital necessary for the development process," stressing that "the success of such investments requires the provision of a successful investment environment and environment that depends mainly on the availability General stability and availability of the necessary infrastructure to establish these investments. "
 
National capital
In the same context, the specialist in the economic affairs, Dr. Ahmad Al-Rawi, stressed that "the Iraqi economy is in urgent need of investment in all its forms, given the inability of the national capital to advance the country's construction, especially in the areas that were liberated from the control of ISIS."
He pointed out that "the experiences of developing countries indicate the success of foreign investment in the construction process, and there are no fears of opening up to foreign investment," adding that "the process of opening up to the foreign investor is not obtaining more financial flows but rather access to advanced technology, which will lead to Create competition that increases the productive capacities of national commodities in the International market . "

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Social Security Law


Friday 05 June 2020


Mohammed Sharif Abu Maysam

 
In November 2017, a great media outcry was raised after the Cabinet approved the Social Security Law, and this uproar continued with a wave of rejection adopted by many parties regarding this law until its reading was suspended and its relay to the parliamentary session that came in 2018.  

In short, this law unifies a set of laws on retirement in a single text, and makes the right to obtain a pension for all societal groups within the limits ranging from a minimum of 400 thousand dinars and at a maximum of 850 thousand dinars after the payment of pension insurance for public or private service years. In other words, whoever works in the private sector or even in shadow economy activities, has the right to obtain a pension after he pays the pension insurance to the retirement fund at a rate of 7.5 percent of his monthly income that he claims to receive. 

According to the years of service that he decides, and this matter applies to housewives according to what is stated in the text of the law, in what the public service employee pays 10 percent of his monthly income during his years of service, and the state guarantees to pay 15 percent of pension insurance for workers in the public and private sector in favor of a fund Retirement, and here we leave the reader to estimate the amounts that will enter the pension fund every month after millions of workers in the private sector, crafts, unregistered professions and housewives apply for pension insurance.

This law, which eliminates the pension privileges of private laws, not only establishes a social justice environment, but will also stimulate the direction of regular market relations and the end of chaos and make jobs in the private sector a degree of acceptability of the labor forces pressing the public sector. 

It will be a real beginning for an economy led by the private sector, limiting the activities of the shadow economy, as well as its indirect role in increasing non-oil revenues in the public budget, as it will limit tax evasion in all economic activities, after everyone who works in a large or small project demands registration 

Without this, these projects will not find anyone to work on unless they are registered and thus all projects enter the state records under pressure from their workers, and it will also contribute to the regularity of the labor market according to the mechanisms specified by the Labor Law and to ensure appropriate working conditions and rights equal to those enjoyed by workers in The public sector, with stopping the state of attrition resulting from the big differences in pensions for large positions and special grades and some ministries and agencies whose members enjoy high salaries and privileges during and after service without others, and it will contribute to achieving monetary stability and reducing the state of inflation, and many other benefits that cannot be limited here .Which raises the question about neglecting the legislation of this important law, which can achieve many goals that everyone seeks at the present time. 

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Don’t Scroll Too Fast Without Reading The Last Paragraph ! :o 
 

 

And Then Scroll Back Up And Read The One Before It ...

 

 

Don’t Worry - Sometimes It’s Ok To Eat Dessert First ...

 

:D  :D  :D 
 

 

The agricultural sector needs promising investment plans


Friday 05 June 2020
 

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Baghdad / Al-Sabah 

 
The reform paper presented by the Iraqi Institute for Economic Reform, prepared by a specialized team of economists, addressed all the problems faced by the national economy, as it stood at the agricultural sector, which is a permanent oil when it finds promising investment plans that make it a real supporter of the sustainable development process. 
A member of the paper preparation team, Kazem Al-Oqabi, said: "The agricultural sector is an important axis in the economic development process that Iraq seeks, as it suffers from weak protection measures for the agricultural product, control and control over imported agricultural products, as well as high production costs for agricultural crops." 
 
tax
He pointed out that «the reformist paper focused on the importance of imposing a tax on imported agricultural crops and their products provided that the tax rate is calculated on the basis of the cost of the local product inside Iraq to achieve a competitive advantage with the local agricultural sector, and the approval of the import license only to enter crops and agricultural products and prevent irregularities, and the adoption of electronic governance And the completion of the institutional linkage between the state ministries and the formations concerned with this activity to ensure that the products allowed to be entered are properly entered, as well as to stop working with the exceptions granted contrary to the laws on plant and animal wealth and not to give any other exception ».
 
National products
And he stressed «the necessity of obligating all government ministries and institutions that have a feeding program for their affiliates to purchase national plant and animal products, and to support farmers, farmers and investors who support the agricultural sector with oil derivatives in terms of quantity and price as well as electrical tariffs to contribute to reducing production costs, and provide full support to establish agricultural areas on Like the industrial zones, the foundations of their establishment are available through the availability of large areas and water in the country, including groundwater, as well as providing great support to farmers and farmers in providing them with greenhouses, sprinklers, watering pumps, fertilizers, pesticides, etc. at subsidized prices that are exempt when achieving abundant production and also when Export ».
 
Dairy products
He pointed out that «the reform paper showed the importance of providing significant support to establish feed production factories for livestock and poultry, which are a basis for making dairy products and canning meat through raising livestock, cows and poultry, and providing subsidized loans to farmers, preferably without interest and incurred by the government in exchange for the output that farmers will provide And also for investors in the field of livestock, poultry and food industries dependent on agricultural products such as packaging factories and others, up to the establishment of penalties for farmers, farmers and investors in the event that they do not use the loans for the purpose for which they were granted with a comprehensive follow-up to those projects ».
 
Export box
Al-Oqabi asserted that “the preparation team stopped at the importance of preventing the import of crops and agricultural products to ensure the protection of local agricultural products, which will result in expanding the production of these crops locally or by imposing large fees on crops entering the country with a high rate to encourage farmers to cultivate and emphasize the benefit of a fund law. Exporting, encouraging handicrafts, domestic and timber industries especially in the southern regions and introducing modern technologies in manufacturing and providing the necessary support for that, as well as recovering the amounts of agricultural initiative loans that deserve to be recovered before the year 2020 and recycling them to other beneficiaries, and establishing a project of agricultural complexes to market agricultural products to encourage farmers to focus in Increasing agricultural production 
By facilitating marketing, reducing its cost and encouraging food industries that depend on agricultural products such as tomato paste production factories, juices, dairy and dairy products.
 
Industrial projects
In another axis, the paper focused on adopting the principle of partnership between the public and private sectors in the implementation of medium and large industrial projects to establish joint-stock companies offering their shares in the Iraq Stock Exchange, and that is possible within the available laws (21) and (22) for the year 1997 as well as starting a transformation program ( 2) A public company or factory to a contribution according to Articles (35-38) of the Public Companies Law No. 22 of 1997 in the light of its success, preparing and implementing a long-term transformation program.

The reform paper also stood at the adoption of the idea of the industrial dinar because it would open the door to re-exportation, which is the most important in the matter of industrial development, because without it, the money used in importing in non-Iraqi currencies, no matter how they will not be recovered and will be wasted locally, will also encourage the main global suppliers to enter into The participation of the Iraqi industrial establishments for marketing in the surrounding markets first and then global according to the need because of the real competition for international prices.

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Power strip repair key solution


Sunday 07 June 2020


Ali Al-Saffar

Translation: Shaima Miran
 

Today, the Iraqi economy is facing a major crisis due to the impact of the pandemic (Covid-19) on the global oil market, and it is certainly in urgent need to reform the energy sector. Reform laws that will help the energy sector and the economy tap their vast potential.
The double shock of the sharp decline in oil demand due to the pandemic and the large increase in supply has had a direct impact on oil producing countries that rely on hydrocarbon revenues to finance and feed their countries ’budgets and economies. Iraq is one of the producing countries most affected during the long period of the relative decline in oil prices due to its almost complete dependence on these revenues and its limited financial reserves. 
And his net oil revenues will drop to at least 70 percent compared to last year in the event that oil prices continue to their current levels. He will also suffer a large deficit of approximately $ 3.5 billion a month to pay salaries and pensions only and to cover the necessary government expenses. The latest forecasts from the World Bank indicate that the Iraqi economy will shrink by 10 percent this year, and that the widening current account deficit will be among the most dangerous in the world.
 
Important questions
As for the energy sector in Iraq, which represents the cornerstone of its economy, two main questions arise. The first of them is the impact of low prices on the energy industries in Iraq? What are the lessons that can guide Iraq during its response to this crisis and its endeavor to ensure better preparedness for future oil price volatility? .
Iraq's response during the previous oil price cycle provides strong indications of the measures it is likely to take to deal with its current crisis. As his reaction to the drop in world oil prices in 2014 was to reduce investment spending, and the effects of those steps remained visible until 2019 when the budget of the national government remained less than twenty percent than it was in 2013. The limited private sector participation in the economy affected the significant contraction in Public sector spending on almost all basic services, as authorities evacuated investments in roads, hospitals, and schools. 
The energy sector was not immune to these declines, so the average annual financial budget allocated to the Ministry of Oil was less than a fifth in the period between 2018-2015 from what it was in 2013, which affected Iraq’s ability to continue its long-term goals for oil and gas development. Also, the impact on the Ministry of Electricity was more severe, as the production spending budget fell more than sixty percent compared to 2013 levels.
 
Deferred investment plans
There are preliminary indications that the current decline in oil prices will actually affect the country's financial budgets. And as long as the government budget for 2020 is not approved, its spending will be reduced at a level divided by 1/12 of the spending achieved from the previous year. There are signs that all financial investments planned by the Ministry of Electricity for this year will be postponed until further notice. This puts many necessary investments in the network at risk, which means that the losses in transportation and distribution are the largest in the world, and affect an estimated seven thousand megawatts of expansion of the planned generation capacity which is more than five thousand megawatts for combined-cycle gas turbines, and 1700 MW of renewable energy.
 
Tariff reform
The current oil market movement indicates that it is not wise to lay the groundwork for an economic reform strategy in the hope that oil prices will soon recover. There are a limited number of political tools that Iraq can withdraw to support it in its current situation, such as subsidizing electricity, for example, which costs the state approximately $ 12 billion annually, which is equivalent to the total revenue of the network at current prices for about five months, and this burden is very heavy, especially when financial health The state is as weak as it is now. So there are several reasons for the priority, urgent, thoughtful and accurate reform of tariffs and their implementation well.
First, it will help generate revenue for an insolvent sector for several years, allowing more government resources to reinvest in the system. Second, tariff reform to send a price signal could mitigate the current high rate of growing demand for electricity, which was growing at a rate of ten percent annually. Such reform is important to boost a more sustainable electricity sector by reducing growth and stimulating an increase in supply that will, in return, provide the energy needed for a broader economic recovery.

The key to economic prosperity
Iraq may think of new incentives to urge private investment in natural gas projects. The current pattern that favors government funding for huge infrastructure projects across the sector is a stressful obstacle in times of declining oil revenues, which puts important projects for economic development in Iraq in front of the risk of a long delay. Iraq can search for mechanisms that allow investors to market and export liquids that can be extracted from natural gas that is trapped from oil operations, and since most of this gas has not yet been extracted or is currently being burned, its profitable use may increase the desire to invest it, especially when gas prices are preserved Domestic natural to its relative decline. 
There was hardly any time before Iraq to follow up on its important reforms in the energy sector to ensure continued investment, even when government revenues were damaged by lower prices.

 The oil. 
The alternative of continuing to rely on direct state funding for mega projects increases the risk of delaying these projects. Given the importance of both natural gas and electricity to the prosperity of the Iraqi economy, such delays should be avoided at all costs. Because they have the key to diversification, which makes Iraq more flexible with changes in oil prices In the future.
 
On the website of the International Energy Agency

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Board of investment

Sunday 07 June 2020


Thamer Al-Heims


Crude oil is no longer a lifesaver in the predicament with which the two pandemics (Corona and its consequent lower oil prices) put us on the horizon for being global crises. 

When our predecessors invented the wheel, it was not a luxury, but a time imposed by necessity, so exporting crude oil (with its volumetric production and its international price) became a mere achievement and outside the circle of our independent development decision. 

Since we were and still are indebted at the time of the high price of a barrel until now, and that our population increase is more than a million people annually, it adds accumulation And dependencies.

Therefore, we must review the reality of investment in Iraq and its Law No. 13 of 2006 and its amendments, in addition to protecting our agricultural and industrial products that achieve our food security, and we have avoided the repercussions of the two pandemics that afflict us And without us.

Protectionism, globally, has returned as a base for development and as an alternative to its global liberal absence to revive it now through (America First), it must be remembered that it is the natural practice in the world since the beginning of the Middle Ages and even from the Greek-Roman period if we want to go further back, and that protectionism is considered Rediff and readers for investment. 

The investment in general is not lagging in the oil field, but it has become a negative phenomenon. The time period between the project referral book and granting the license is still a year or more due to the multiplicity of windows, which means that investment bodies have become part of the problem, as they do not continue their work before and after the assignment and after granting a Investment license.

So the Presidency of the commission must follow up on the electronic and provide a daily position to the Prime Minister about the bottlenecks and the degree of inconsistency of procedures for the time limit, because the two pandemics do not wait for those who are delaying in all circumstances. Perhaps one of the harsh lessons that must be learned now is the external loan, as it will increase weight with the conditions of the International Monetary Fund on Lebanon, as the basic (protectionist) condition was not to spend the loan without it, as our oil revenues now and tomorrow may be devoted to the operational budget first and the payment of previous debts, What makes it does not fill a deficit and does not finance the investment budget except by manufacturing it to fill the door for importing products and operating refineries, to enter the developmental field qualified and ready for any other future repercussions
 

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Persuasive unemployment depletes the Iraqi economy


Sunday 07 June 2020


Dr.. Hussein al-Asadi

 
The problem of unemployment in Iraq has worsened in recent years due to the absence of government plans that aim to provide job opportunities for the unemployed by activating the private sector, as thousands of students graduate annually from universities without finding jobs for them, which makes the unemployment rate rise continuously amid the absence of solutions and treatments.

Unemployment differs in its forms, including real unemployment Unemployment, false unemployment False Unemployment, and disguised unemployment Unemployment, real unemployment is an economic phenomenon that began to appear significantly with the prosperity of the industry as unemployment has no meaning in traditional rural societies, according to the International Labor Organization, the unemployed is everyone who is able to Work is willing and sought, but to no avail.

Through this definition, it is clear that not everyone who does not work is unemployed. Pupils, people with disabilities, the elderly and retired people, those who have lost hope in finding work and temporary employers, and those in need of work are not considered unemployed.

Here, we do not want to dwell on the details of what is related to true unemployment, but we have made it a prelude to convincing unemployment only, as is the case with false unemployment, where we will deal with them and explain their causes at a later time.

The percentage of public employees to the number of people according to global balances does not exceed 1%, the population of the United States of America is 328.2 million, the number of public employees 2 million, or 0.6% of the population, the population of Canada, 37.59 million, the number of public employees, 0.287978, 0.7% of the population The population of France is 66.99 million, the number of public employees is 0.5 million, 0.7% of the population, the population of Germany is 83.02 million, the number of public employees is 0.45132, or 0.5% of the population, the population of India is 1 billion and 353 million, the number of public employees is 21.547 million, or 1% of the population. The population, the population of China, one billion and 393 million, and the number of public officials 7.6 million, 0.5% of the population, and clearly shows that the proportion is almost constant, not exceeding 1%

The number of people of the Iraqi people according to the latest statistics of the Ministry of Planning 38.33 million people and the number of employees in ministries and centrally funded departments reached nearly three million employees 2.941890, while working in the self-financing departments of the state about five hundred thousand employees (there are no accurate figures for not appearing in the general budget) So, the number of government employees is 3.44189, the general budget for 2019 - Iraqi facts: number 4529 on 11/2/2019. The workforce in government institutions constitutes 18% of the economically active population of Iraq - the population of working age 15-60 years - of 57 % Of the population of Iraq, according to the estimates of the Central Bureau of Statistics of the Iraqi Ministry of Planning, while their ratio to the total population will be 9%, while the population of the Kurdistan Region of Iraq is 5.123 million and the number of employees in the region is according to the statistics of the Ministry of Planning and proven in the budget 0.682021 So their percentage to the region's population will be 13%, while on the basis of what is provided from the region 1.255 million, then their percentage will be 24% of the region's population, which is a very high percentage that constitutes a quarter of the population. Of course, these numbers do not include retirees in the Iraqi state, All of these are real employees, so we do not suspect that Ghost Employee exists in these numbers.

Iraq possesses a number of government employees more than 9 times what the global ratio requires as it is in other countries, while the Kurdistan region is 13 times more, and if we take the region's accounts, it will be 24 times.

This is disguised unemployment. It is also called hidden unemployment. It expresses a group of workers who receive wages or salaries at no charge from work or the effort required by the job, which is a percentage if it is withdrawn from the field of work that does not result in any exit from any total production. The company or organization in which they are employed, production may increase.
Persuasive unemployment occurs in developing countries as a result of the accumulation of workers in the government apparatus beyond the needs of those agencies, as a result of the commitment of states to appoint graduates, without there being a real need for their work.

The negative effects of this increase are very large, for the first time they appeared on the public budget, Iraq was allocated to the salaries of employees (43.4) trillion Iraqi dinars for the year 2019 in its budget, while if we take in the previous equation, what does the budget require (4.8) trillion Iraqi dinars only, i.e. less than (35) billion dollars Almost as it treats the apparent deficit in the budget, especially if we add to it what the employee needs to perform the job from the place, transportation and other requirements.

Among the most important reasons for appointments in Iraq are political factors, as they are directly linked to the elections and gaining more votes, which is a serious matter that falls into the exploitation of the position for special purposes outside the limits of the job and is corruption punishable by law, but more than that falls within the framework of unfair competition and the purchase of votes, so it reduces From the opportunities of competitors and makes equality and equal opportunities for parties different, and from here we find many of them looking for positions because they provide while providing appointments that make the political party in a stronger position.

If Iraq wants to get out of this impasse, it must undertake a comprehensive administrative reform away from the hegemony of the parties and their own interests in order to find job opportunities for qualified citizens and reduce the hegemony and influence of the parties through appointments.

To reach a state of stability in the proportion of government employees according to the ratio in effect globally requires the Iraqi government to find employment outside the government sector and encourage the industrial, agricultural, tourism, and other private sector because it has no doubt that has a significant impact in moving the wheel of the economy and dismantling bottlenecks in the budget and directing it towards what is most important.
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Self-sufficiency ..


Sunday 07 June 2020
 

alsabaah-37798.jpg

Yasser Al-Metwally 

 
After the fiery statements have subsided in providing economic solutions from non-specialists, which contributed to disrupting the required economic growth, we have emerged today (tweets) and the most dangerous of those solutions issued by them and I mean (non-specialists).

At a time when the word "activating the productive sectors" is launched as if it is an issue very easy and in the simple sense "May they occupy the stalled laboratories"?

But when it is decided to operate these factories, a more complex problem arises before you, which is the basis for operating these factories, which is electrical energy, which is not sufficient for the normal consumption of citizens, so how is the situation with the volume of energy that occupies these factories?

The expected results of the post-Corona era are that countries will turn to self-sufficiency after the Great Depression that befell the Great Powers and expectations are that they will not be on the horizon to address the depression, due to the disruption of the economic cycle and its ineffectiveness after the collapse of globalization and the fact that the conflicting parties are searching for a new economic system that saves them from the dire consequences that Behind it is the virus that is not visible to the naked eye.

Not long ago, at the height of the fierce competition between the world’s poles to acquire the leadership and capabilities of the global economy through the globalization program, a number of European countries were searching for ways to get rid of the effects of globalization through their orientation towards self-sufficiency.

This program is based on the theory of the relative scarcity of resources, that is, the extent to which they can benefit from them before they are depleted .. Thinking is underway to research the possibility of benefiting from resources by trying to reuse or recycle them, and this program is called the Cyclic economy.

He drew my attention to this phenomenon and the depth of her idea with me as it revolves in my memory, that I have soon in the diaspora and in Finland in particular, and she is known through time for her unique experiences in various economies and confronting the crises personally, whenever I ask him, did you complete your studies, tell me about additional courses that pour in this sense and is required to answer On the question: What is the maximum benefit from any resource through reuse or recycling?

Therefore, I expect that this trend will revive (purchase of used goods) again to be recycled based on the recycling of resources in order to achieve the required self-sufficiency.

And first of all, even if thinking about recycling our economy, the need and priority lies in solving the electricity dilemma, in order to fill the need of the citizen and the need to restart idle factories and recycle the economy.

It is noticeable that in Iraq the trade in collecting and exporting scrap has been cheaply consumed at a time when we need to recycle it (economically recycle it). Will we pay attention to this phenomenon?

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This saudi news is better than it looks. I say this because the ministry of electricity

has been extremely corrupt from 2004 until today. The USA has paid contractors three

or four times to fix the grid in Iraq but it never gets done. This is why the electric ministry

is always one of the last ones to get filled each time there is a change in Prime Ministers.

The position is a cherished one because of the history of stealing. The numbers are HUGE

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