Finance Reveals The Need For Iraq To Borrow About $ 38 Billion To Cover The Deficit !

[DinarThug]

Border outlets announce revenue generated at Umm Qasr ports

 

security 12/6/2020 20:10 611     

Baghdad today - Baghdad 

 

Friday, the Border Ports Authority announced the total revenues generated for the period from 1 May to 11 June 2020.

The Authority added in a statement, "The total revenues amounted to 65,840,172,000 billion Iraqi dinars for the value of customs and tax revenues that were collected from commercial traffic in the ports of Umm Qasr marine ports."

She pointed out that "this achievement is a natural outcome of the cooperation of the operating departments despite the decision to zero the customs duties of food, health and agricultural materials." 

She continued, "Also, the tightening of the measures taken by the Border Ports Authority in the supervision, control, audit and security investigation has had a large and effective role in tightening the screws on the corrupt and smugglers and preventing them from transgressing the public money. And reinforced the federal budget in light of the current and complex circumstances of the economic and financial crisis that our country is going through. 

LINK

[boosterbglee]

Makes you wonder where all that money is going since they seem to not have enough to even pay salaries without borrowing from another sucker country!

[horsesoldier]

Iraq is just one Epically screwed up country, isn't it ?

Years of the most idiotic, discombobulated, fractured, confused, contorted, contradictory, hypocritical, two faced, low down, mealy mouthed, whiny, sniveling, cry baby, awkward, non sensical & outright dishonest news pours out of Iraq leaving you with a sense that these folks couldn't slap their AZZ with both hands lest it turn into a full blown crisis.

 

If Kazemi can pull this off, by that I mean, yank Iraq back from the abyss and put it on a steady stable road to a successful future; the mans' a Magician pulling this rabbit out of the hat . . . alive. 

 

ON WITH THE SHOW ! 

[DinarThug]

20 minutes ago, horsesoldier said:

Iraq is just one Epically screwed up country, isn't it ?

Years of the most idiotic, discombobulated, fractured, confused, contorted, contradictory, hypocritical, two faced, low down, mealy mouthed, whiny, sniveling, cry baby, awkward, non sensical & outright dishonest news pours out of Iraq leaving you with a sense that these folks couldn't slap their AZZ with both hands lest it turn into a full blown crisis.

So Does Downtown Baghdad Have A ‘6 Square Block’ Area Occupied By Anarchists ?  

 

 

     

[cws]

29 minutes ago, horsesoldier said:

Iraq is just one Epically screwed up country, isn't it ?

Years of the most idiotic, discombobulated, fractured, confused, contorted, contradictory, hypocritical, two faced, low down, mealy mouthed, whiny, sniveling, cry baby, awkward, non sensical & outright dishonest news pours out of Iraq leaving you with a sense that these folks couldn't slap their AZZ with both hands lest it turn into a full blown crisis.

 

If Kazemi can pull this off, by that I mean, yank Iraq back from the abyss and put it on a steady stable road to a successful future; the mans' a Magician pulling this rabbit out of the hat . . . alive. 

 

ON WITH THE SHOW ! 

Where’s the Tylenol? 🤪

[DinarThug]

LINK

Oil expert: Iraq can become a strong economic country without exporting a single barrel

 

 

12:19 - 13/06/2020

 

 

The oil expert, Hamza Al-Jawahiri, stressed on Saturday that Iraq can be an economically strong country without the need to export one barrel, pointing to the country's ability to achieve resources without selling crude oil.

Al-Jawahiri said in a statement to / Information /, that "Iraq can be an economically strong country without the need to export one barrel", indicating that "Iraq can achieve resources without selling crude oil in excess of its need for oil and budgets without a financial deficit."

He added, "Oil and gas are devoted mainly to manufacturing and energy industries and all types of sustainable development, and this, in turn, will reduce unemployment and disguised unemployment and provide the state and the private sector with very large financial resources that increase with time, provided that the hands that extend to them are cut badly." 

[DinarThug]

LINK

Despite the pandemic and the lack of imports .. Customs strengthens the state treasury by more than 6 billion dinars

 

13th June, 2020

The General Authority of Customs announced, on Saturday, its total revenues achieved during the past three days, which amounted to more than (6) billion and a half billion dinars, despite the closure of most border ports due to the Corona pandemic.

The authority stated in a statement that Mawazine News received a copy of it, "In light of the difficult economic and health conditions that our dear country is passing through, its cadres working in all districts and customs centers continue to contribute effectively to help us to their people and their country, united with all challenges and work obstacles to advance their work and achieve The highest revenue is boosted by the state’s treasury billions of dinars per day.

She added, "It contributed to facilitating the entry of thousands of shipments of medicines, medical supplies and foodstuffs around the clock, day and night, and through direct efforts and follow-up by the higher management in the authority in order to facilitate the smooth flow of consignments into the country for basic and food materials, especially human medicines, to reach the consumer in light of the current crisis."

And she stressed, "her keen desire to achieve more revenues to support the state treasury and contribute to stand in the face of the financial hardship that the country is going through." 

###############

Within 3 days, the customs boost the state’s treasury by more than 6 billion dinars    LINK

[horsesoldier]

15 hours ago, DinarThug said:

So Does Downtown Baghdad Have A ‘6 Square Block’ Area Occupied By Anarchists ?  

 

 

     

 

Damn ! This statement speaks volumes, huh.

[DinarThug]

4 minutes ago, horsesoldier said:

Damn ! This statement speaks volumes, huh.

 

 

 

     

[DinarThug]

The crisis is administrative, not financial. A deputy confirms that there is liquidity that secures the salaries of retirees until the end of 2021

 

Policy 06/1920 2020 13:38 828 Editor: ha   

Baghdad today - in particular , 

 

a member of the Finance Committee in the Iraqi parliament, Naji Al-Saeedi, confirmed on Saturday (June 13, 2020) that the funds in the retirement fund are sufficient to pay the pensioners ’salaries for two years, while he denied the lack of liquidity in this fund.

Al-Saeedi said, in an interview with (Baghdad Today), that "there is a guarantees fund for retired Iraqi state employees, and this fund was established in 2008, and includes all retirees, to pay their salaries, part of which is borne by the state and the other part borne by the employee himself", indicating that " From 2004 to 2008, we did not have this fund. "

He added, "This fund carries the burdens of the salaries of prisoners, martyrs and Rafha, who were not deducted any money from them previously, such as an employee," noting that "the crisis is currently more administrative than financial."

Al-Saeedi considered that "the retirement fund for Iraqi state employees has funds, and these funds can cover the salaries of retirees for the current year and next year, with deductions from state employees continuing to retire." 

He pointed out that "there is sufficient liquidity, but the problem is administrative and time did not allow for the return of all the funds deducted from retirees." 

The Retirement Commission began last Wednesday to pay the pensioners ’salaries, with the implementation of the deduction decision that affected a large number of them, while the Commission announced on Friday that it directed the Prime Minister, Mustafa Al-Kazemi, to return the deducted money to retirees.

LINK

[horsesoldier]

1 hour ago, DinarThug said:

 

 

 

     

 

Damn straight 

[DinarThug]

Parliamentarians on the other: direct foreign investment to these sectors ... do not focus on oil!

2020.06.12 - 20:50

People - Baghdad  

 

Member of the Committee for Monitoring the Implementation of the Government Program and Strategic Planning, Deputy for the Saaroun Bloc, Inaam Al-Khuzai, on Friday, called for drawing negotiation tracks in the interest of Iraq, ruling out the country's need for economic expertise from abroad.  

Al-Khuza’i said, in a statement, which “NAS” received, a copy of, (12 June 2020), “The economic challenge in Iraq is not due to the lack of Iraqi economic expertise as much as it is an inevitable consequence of the failure of successive governments to implement the economic policies proposed by Iraqi experts and specialists. Therefore, Iraq now does not need American experts or international institutions to make its economic policy. Rather, it needs an honest national government that takes the advice and advice of its economic experts, and, as the people of Mecca say, it knows its people. "  

She stressed the importance of "other foreign investment flows without distinction due to the weakness of the Iraqi negotiator and the rampant corruption in investment contracts, which may lead in the future to American companies controlling the country's economic potential, especially if foreign investment penetrates into the Iraqi oil sector, more than we are now."  

Al-Khuzaie called, according to the statement, "to direct US foreign investment to the agriculture, industry and infrastructure sectors instead of focusing on oil fields in Iraq and in accordance with the areas identified by the Iraqi government through its announcement of investment opportunities."  

LINK 

[DinarThug]

Reform .. the best solution to advance the Iraqi economy

Saturday 13 June 2020

 

Baghdad / Farah Al-Khaffaf

 

 

After the government headed towards achieving comprehensive reform in order to establish a new reality that is not affected by the changes, and that would be an important start for a new stage that put Iraq on the right path, economic circles welcomed the new directions, usually the "best solution" to advance the Iraqi economy. Financial expert Thamer Al-Azzawi told Al-Sabah: "Real reform in the country's joints will advance the economy," noting that "the state cannot rely solely on oil revenues, but must diversify, and the right investment is made in all areas." From customs to services provided like electricity, for example. ”

 

Prioritize

Al-Azzawi continued: “Iraq should start with plans to gradually reduce dependence on oil revenues,” praising the cabinet’s decision to re-prioritize spending items, in line with the financial and economic reform that the government began adopting.

And he saw it as "the actual first step for the Al-Kazemi government," pointing to the need to develop plans to invest in the industrial and agricultural production sectors in a manner that provides hundreds of millions of dollars out of the country.

 

The repair process

He also pointed out the importance of the economic reform process including amendments to laws and legislations, such as the investment law, customs, taxes, fees, and others.

The Prime Minister had stressed during the special session of the Council of Ministers, that "the country is going through great crises and challenges,in the financial aspect, the Corona pandemic, the collapse of oil prices, etc., and we have put plans to overcome them, and this requires cooperation by everyone with the government, to put the country in the right path." Noting that "the poor administrative system has hindered many projects, and we are working hard to reform it."

 

The most severe depression

The financial news expected that the financial crisis will continue during the coming months, but he saw the possibility of getting out of it as the government started the reform process.

Meanwhile, the World Bank said in its June 2020 global economic outlook that the Corona pandemic had caused the most severe recession in decades. He added that although the final result is still unknown, the pandemic will lead to economic contraction in the vast majority of emerging market economies and developing countries, and will also permanently damage labor productivity and potential production. 

 

Middle east

The World Bank expected the global economy to shrink this year by 5.2 percent, after growing by 2.4 percent in the past year 2019, but also expected the economy to grow by 4.2 in the year 2021.

As for his expectations regarding the economy of the Middle East and North Africa region, he expected that the region's economy would record a contraction in the current year 2020 by 4.2 percent, after it recorded a slight contraction in 2019 of 0.2 percent, but he said that the region's economy is expected to record growth by 2.3 Percent next year 2021.

The World Bank attributed these expectations to the impact of the Corona pandemic and the developments in the oil market.

 

Emerging markets

In the latest report on global economic prospects, the World Bank said that advanced economies are expected to contract 7.0 percent in 2020, while emerging market economies will contract 2.5 percent, its first contraction since 1960. 

On the basis of GDP per capita, the global downturn will be the deepest since the end of World War II.

The forecast shows more damage to the economy compared to estimates published by the International Monetary Fund in April, which predicted a global contraction of 3 percent in 2020.

LINK
 

 

Edited June 14, 2020 by DinarThug

[DinarThug]

The real private sector

 

Saturday 13 June 2020

Ali Al-Zaidi

 

The challenges facing the national economy are many and extend to the entire productive and service sectors without exception, and their aggravation leads to the complexity of the economic scene, and this is what we do not want to reach in the coming period. 

The field of economics requires the presence of short and long-term plans aimed at developing the national economy, benefiting from the sum of the ingredients that the country possesses in all regions, and here the construction moves must be calculated accurately by the relevant authorities, which must know the labor market well and for whom Responsibilities in order to reach the desired results, which are the first steps in achieving sustainable development. A question arises, how can development be achieved, and who is the best for this process?

Here it is necessary to get acquainted with the real private sector that is keen on its reputation and entity and possesses successful practical experiences, as the process requires the diagnosis of the private sector that owns the executive experiences and financial solvency that enables it to enter into important investments that advance the economy and actually transfer it to the stage of advancement that is commensurate with the economic value of Iraq On the international scene, it is ranked on the list of countries rich in natural and human resources. 

Reality requires that the tasks of economic development be entrusted to the real private sector, and this is not complicated and there are mechanisms through which it can determine the capabilities of local companies and the work carried out by them in the country or abroad, especially since the Iraqi private sector has work experiences inside and outside the country, and there are capital The Iraqi private sector has an external investor that can provide an attractive environment for it and restore it to be supportive of the economic development process and revolve within a local framework that will benefit the country and expand its activity in the local market. 

It can also develop the Iraqi private sector from its capabilities through the adoption of bilateral partnerships with international companies specialized and discreet, which are afraid to strike its reputation for any impurity, in order to solidify performance and reach goals in a specific time, in order to transfer from one stage to another in its timing, to start to Building the national economy according to sound work mechanisms. 

The real private sector is the key to sustainable development, which requires that all efforts be combined to support economic building operations in all its productive and service sectors, and that citizens have the opportunity to have a decent life guaranteed by the constitution.  
 

LINK

 

 

Edited June 14, 2020 by DinarThug

[DinarThug]

Successful wrong policy actions

Saturday 13 June 2020
Dr.. Mohamed Helou Al-Khursan

 

Through the follow-up to a press conference of the Minister of Finance, which briefly outlines the ministry’s plan, the minister’s work program, or the roadmap he is working on in the coming period, and that the subject he spoke about is of great importance because it is directly related to the livelihoods of the citizens and their livelihoods at this particular time in which you follow The statements, news and meetings regarding the reduction or deduction from the employees ’salaries, and given the importance of the Minister of Finance’s talk, the reactions varied between a supporter and an opponent, which I briefly summarized before explaining my personal point of view.

 

  There was admiration and support for that conversation that came from a group that personally knew the minister, and some of them had worked with him during his previous assignment, and they relied on their support for the possibilities and ideas that he enjoyed, and the other part of the supporters are specialists in economics, accounting, public finance, administration, as well as businessmen in the sector. Private, as well as legislative and executive bodies in the state who are familiar with the reality of the economic and financial situation in Iraq.

On the contrary, we find those who oppose these statements to the extent that a number of activists on social media have adopted an explicit request from the minister to submit his resignation to what they see or consider as a deficit in the management of the Ministry of Finance, in order to achieve, as a result, a cutoff of their livelihoods and their families.

 As for the personal level, it can be likened to the Minister of Finance with a naval commander assigned to him the task of driving a ship in the middle of the sea and this ship has many problems and defects, as well as it is very very heavy, and the previous owners of it and their supporters and their supporters neglected them and used by them only to achieve their goals and desires without observing the rules Sailing and safe walking, and the same description applies to those who took the lead in previous periods, and found that the new captain of the ship has two options that are not third for them, either that he performs procedures and steps through which he seeks to preserve the ship from drowning, but in that problems and reactions from the ship's passengers and that is something Natural, because these steps and procedures are in their abnormal time, and they were supposed to be taken from previous years when the ship was at the beginning of the road, in the waters and the few waves, as well as its cargo was less.

 
 Personally, I see that the minister's speech at the press conference indicates a high professionalism, great interest and a sense of responsibility, and he despised the position because he found in the economic future of Iraq more important than his future to continue in the ministry or not.

  But we say that those steps that the Minister spoke to, despite their importance, they came at the wrong time and it was better to take years of prosperity after 2003 in light of the high oil prices, economic openness, and international support, but unfortunately there was unjustified and ill-considered spending and financial corruption.

 

Below we show a few points briefly:

 

First: The Minister’s current procedures are successful measures for wrong policies. In order for the ship's passengers to convince the Iraqi people to follow these measures and implement them despite their difficulty, the strong political will must be available to the owners of the ship and I mean the current decision-makers and this will be translated into accountability for the negligent, with the intent of theft, manipulation or mismanagement Regardless of the position of the palace and the party that supports it, as well as actual measures to recover the looted Iraqi money at home and abroad, at which time the people will accept reform measures despite their cruelty and inappropriate timing, because it is unreasonable to leave the stolen money and not account for the causes of economic failure, thefts and demand from the people to bear the austerity policy And reform.

 

Second: Despite my complete conviction by virtue of specialization that the tax policy is one of the tools of financial policy, but I see that exaggerating the imposition of the tax without providing services in return for that constitutes a violation of the principle of interdependence and the relationship of mutual benefit between the people and the financial authority.

 

Third: It appears that the weight of the tax that will be imposed in accordance with the announced reforms and the greater burden will fall on the weakest and easiest link in the joints of the state and they are the employees segment, and without exaggeration that the employee who previously paid 30000 dinars direct deduction tax will pay at least the minimum amount of 350,000 dinars according to the imposition of the tax on the total The salary, and here the financial authority must take into account the important pillar within the tax rules, which is tax justice, since it is not reasonable for an employee who declares his total income to be 100% according to the salary list, with another taxpayer who does not declare more than 20% of his realized income but The two are subject to one tax rate and to one tax treatment in grace.

 

Third: His Excellency the Minister of Finance chose the difficult path in dealing with economic problems, and the financial authority should not be satisfied with the easy way, which is the salaries of employees to increase the tax revenue, but rather search for new tax vessels, increase the effectiveness of the tax system, and reduce the percentage of tax evasion that I declared according to the statistics of the Ministry of Finance as It exceeds 61 percent, in addition to activating other types of taxes in addition to the income tax, which has a greater role in increasing the tax revenue.

LINK

[DinarThug]

Al-Shami provides a set of economic solutions that enhance production and services

 

Saturday 13 June 2020
 

Baghdad / Hussein Thugb  

 

 

A set of immediate solutions to address the economic problems that move the country to safety, bypassing the number of challenges that have occurred in the productive and service sectors during the past period, provided by an expert in the economic affairs, which contributes to the transition to the path of real economic development. The head of the advisory board of the Baghdad Chamber of Commerce Salah Abd al-Mahdi al-Shami said: "The first step in which we must stand is to choose the management of the national economy from honest national experiences, especially the private sector that has successful experiences and possesses field expertise and financial solvency." 

Integrity and experience

"We suggest that there be a careful and accurate choice for a group of Iraqi businessmen who enjoy competence, integrity and experience with good reputation and have proven merit and success in their own business inside Iraq and from various sectors, as the reality requires a direct meeting between the group and officials in the Iraqi state and on top of them The Prime Minister and Chairman of the Council of Advisors to develop an integrated coordination work program aimed at activating the role of the private sector to participate in making and amending its own decisions and obtaining the required support to bring about change and positive shock to investors even foreigners with a correction movement in the previous economic platform and this is what is required in the beginning and regain the previously lost confidence".

Cash block

And between "the importance of establishing a large joint stock company (holding) by Iraqi businessmen and others and seeking the expertise required from various nationalities and focusing on purposeful and intelligent media focused on attracting the huge monetary mass that exists with citizens, which is estimated at a minimum of 45 billion dollars to convert the saved hard money into investment money Mobile serving the country to contribute to the existing public and private sector projects (hospitals, major industrial plants, agricultural fields, dairy plants, oil industry, etc.) in exchange for the shareholding company obtaining shares in those institutions in agreement with the state or according to the developer system with details to be developed later.

 

private sector

He pointed out that "the management of these projects will be joint between the private and public sector, if possible, and preferably at the very least, choosing the CEO of the relevant institutions from the private sector and according to the required jurisdiction, and it is possible to create projects for the major joint-stock company if the opportunities and conditions are appropriate for that." "Putting forward the idea of the citizens' contribution to the big company indirectly by deducting part of their salaries for a certain period. In return, these amounts are in the form of debts on the state that can be dealt with later by increasing the proposed shares in the mentioned institutions or in the form of buying certain lands or Other emerging matters that help reduce the state’s need for the cash needed to pay salaries, and this is what is required.

Bank accounts

He pointed out, "The possibility of using the frozen bank accounts of the state represented in its various institutions (the pension fund, the trust fund ... etc) for the purpose of obtaining the public benefit through the large joint-stock company or putting forward the idea of cooperation between the public and private sector in accordance with a vision that includes the management of the private sector for business With careful monitoring of the funds by the state, all the company's accounts, payments and contracts are monitored by a competent government committee or any trusted regulatory body. "

He pointed out that "the success of this plan requires focusing on the workers of successful honest and purposeful media with the presence of a legal committee that works to establish true Islamic controls that correspond to the fatwa of the rational authority and that are among the most attractive factors and persuasion to the public and increase awareness and national responsibility for them, because they have become decision-makers And king in state institutions. "

LINK

Edited June 14, 2020 by DinarThug

[DinarThug]

Economic feasibility study

Saturday 13 June 2020

Raisan Al-Khazali

 

When planning the establishment of any economic project, the economic feasibility study is the preliminary opening in this planning, as it is the primary indicator that determines whether to take a construction decision. It is also the theoretical-practical guarantee of success throughout the life of the project, and there is no success without studying an economic feasibility, as has been proven in many experiences worldwide.

In the study of economic feasibility, which is a technical study in most of its aspects, the dependence on possibility and belief is only valid with very narrow limits; There must be determinants and indicators to be relied upon during the study, and here we will briefly display some of the determinants required to establish an industrial project, for example; They are therefore determinants that can be corrected in some or most of them in the study of the feasibility of other economic projects:

Continued throughout the day, alternating or one meal, required industrial services, equipment and mechanisms used, industrial and medical safety, workshops and laboratories, associate transportation, necessary housing requirements near the factory, restaurant and social services, and others. Many of the determinants that have been mentioned require extensive statistical knowledge, mathematical and mathematical treatments, and organizing a relationship with multiple parties: military, civil, security, health, municipality and area, consumers of the product, as each of these entities has an opinion related to the nature of the project, its location and its societal and military impact Health ... etc.

In the most important aspect, those responsible for preparing the economic feasibility study must be among the specialized cadres in this field, and those with experience and academic achievement in its many details: engineering, technical, financial, economic, commercial, marketing, legal, according to the close interconnection in Between them, as the study requires such interdependence, as a result of its overlapping details.

For approximation, it is possible to observe the correlation and effectiveness of these parties in determining the value of the product, after the following costs are calculated for the standard production unit: the cost of raw materials and spare materials and maintenance, the costs of industrial services (electricity, water, gas, steam, oils, fuels) .. the costs of salaries and allowances Wages and pensions, social services (medicine, restaurant, housing, transportation) ... packaging costs, advertising and advertising costs, and legal invitations and rights. From the total of these costs per standard unit, and after adding a percentage to it as a profit margin, the value of the product is determined, and through this value and the size of the marketing, the break-even point and the period of recovery of the invested capital can be calculated.

The aforementioned summary of the economic feasibility study priorities of an industrial project was presented, but the fine details require a lot of dumping.

link

[DinarThug]

LINK

Deputy: The government's dominance of these resources will get it out of the ordeal of paying salaries

 

 

11:59 - 14/06/2020

Member of the Parliamentary Investment Committee Nada Shaker Jawdat confirmed, on Sunday, that the government can get out of the distress of paying salaries if it dominates several non-oil resources, noting that resorting to deduction of salaries as it happened recently is evidence of the government's weakness in controlling these resources.

Jawdat said in a statement to the "information", that "deduction of part of the salaries is evidence of the weakness of the government and that it is working to the nearest ready-made solutions, as happened recently from deduction for the salaries of retirees, which retreated amid popular and parliamentary pressure."

She added, "There are oil and non-oil resources that can generate tremendous money for the treasury if the government is serious in overcoming the economic crisis, including receiving the amount of oil from the region in accordance with the agreements between the government and the region, as well as serious domination and application of governance to land and sea border ports and airports throughout the country, including The outlets of the region, as well as control and accountability of mobile phone companies and the Internet, and getting the money owed on those companies, and thinking about setting up a national mobile phone company and canceling contracts with companies that are currently operating.

Jawdat continued, “The government should stop selling the currency auction at the present time, as it has become a process for smuggling hard currency outside the country. The country and making sure of it,” noting that “if these measures were to take place in a transparent manner and away from corruption, the government would not be embarrassed from fulfilling the salaries of employees and others.” 

[DinarThug]

Member of Parliamentary Finance: Baghdad is determined to receive the funds of the outlets of the region .. Failure to send it will cost Kurdistan salaries 

 

Economie 06/1920 2020 10:08 936 Editor: Zs   

Baghdad today - private 

 

Member of the Parliamentary Finance Committee MP Ahmad Mazhar al-Jubouri confirmed Sunday (14 June 2020) that the salaries of the Kurdistan Region will be cut if his government refuses to hand over the counter-terrorism border crossings in the region.

Al-Jubouri said in an interview with (Baghdad Today), that "90% of the members of the Parliamentary Finance Committee issued a large blame on the Kurdistan region because for years, no money was sent to the border ports or crude oil sales despite the fact that southern oil goes to support the region's resources, but the last did not Balances the give and take so that the country's resources are equal for all provinces and regions. "

Jubouri replied to a question if the Kurdistan region refused to hand over the border ports to the anti-terror agency, that "it is not new for the region that has abided by its escalating decisions against the central government.  

And between, "When the region is narrowed by means, it comes to the government and requests dialogue, and when its crisis ends, it returns to the same square and remains in control of the outlets and oil, and this is totally rejected."

Jubouri pointed out that "the House of Representatives agreed to the last part of patience, and political leaders who pressed some MPs to create an atmosphere of calm I think that the language of dialogue is over and the Prime Minister must take decisive decisions, and if the regional government goes with this option, I think it is not in the interest of the region And the results will be negative for them and positive for the government. "

The Border Ports Authority denied, on Friday, the arrival of the counter-terrorism agency, to the ports, after news was received.   

The authority said in a statement that "there is no truth to the information that was published on the social media pages under the title of the anti-terrorist agency that reaches the region or is present in our federal outlets."

link

[DinarThug]

Kurdish deputy calls on the federal government to manage the oil file in Kurdistan

 

Policy 06/1420 2020 09:21 640 Editor: ht    

 Baghdad today - Baghdad 
 

Member of the Future Bloc in the House of Representatives Sarkot Shams al-Din, called Sunday, the federal government in Baghdad, to control the oil file in the Kurdistan region and end the suffering of the region's employees in cutting their salaries with any crisis that occurs between the two parties . 

Shams al-Din said in a statement received (Baghdad today), "In the event of any dispute between them and the federal government, they resort to cutting the salaries of employees who have become a permanent victim between the two parties," noting that "the first should resort to other options in which salaries are removed." Staff on any future disputes . "

The statement added that "Shams Al-Din proposes that the federal government control the oil file in the region, and the understanding between it and the companies operating there, to gain the friendliness and satisfaction of the Kurdish citizens and give priority to the higher interest over other private interests, instead of this role taking the KDP with its wrong and continuous policies towards People of the people for 17 years .

link

[DinarThug]

A member of the Parliamentary Finance excludes the government from sending the 2020 budget bill and reveals the reason

 

Economie 06/1920 2020 18:45 217 Editor: ht    

Baghdad today - Baghdad 

 

Member of the Finance Committee in the House of Representatives, Ahmed Mazhar Al-Jubouri, on Sunday (14 June 2020), ruled out sending the government a draft budget for 2020, because the remainder of the fiscal year 2021 has only 4 months left.

Al-Jubouri told (Baghdad Today), that "constitutionally, the government should send the budget law in the tenth month of the fiscal year to the Finance Committee in the House of Representatives, in order to prepare it and submit it for a vote," noting that "all governments did not send the budget in the specified time" .

He added that "the Finance Committee asked to send the budget bill during hosting the Minister of Finance in the House of Representatives and in the presence of Speaker of Parliament Mohamed Al-Halbousi, because the remainder of the fiscal year 2021 was left only 4 months, so it will be according to my information disciplinary regulations or rules that do not rise to the budget bill."

He pointed out that "the country suffers from financial and economic problems, and the government is unlikely to send the budget because of it." 

The House of Representatives, had voted on Wednesday (03 June 2020), on the form of a decision obligating the Iraqi government to send the 2020 budget law this month.

A parliamentary source said, in an interview with (Baghdad Today), that "the House of Representatives voted on the form of a resolution that obliges the government to expedite the sending of the federal budget bill, for the year 2020, no later than the end of this month."

He added, "The House of Representatives finished the first reading of the draft domestic and foreign borrowing law to finance the fiscal deficit for the year 2020."

link

[DinarThug]

LINK

Iraq is discussing with Kuwait to postpone the payment of compensation

 

14th June, 2020

Political sources revealed, on Sunday, talks to be held between Iraq and Kuwait regarding the delay in paying compensation for the Iraqi invasion of Kuwait in the early nineties of the last century.

The sources said in an interview with "Mawazine News" that "the visit of Kuwaiti Foreign Minister Ahmed Nasser Al-Mohammad Al-Sabah to Baghdad will include a study of the compensation file and the possibility of postponing it in light of the financial crisis that Iraq is suffering from."

She added, "Kuwait understands the situation in Iraq and there is an intention to postpone the claim for the remaining compensation amounting to more than $ 3 billion." 

[DinarThug]

LINK

Iraq Stock Exchange closed with a decrease of 0.31%

 

 

06/14/2020 14:32:54
 

 

The Iraq Stock Exchange closed, on Sunday, the price index decreased by (0.31%). The following are trading indicators for the Iraq Stock Exchange today.

The number of traded shares reached 258,210,869 shares. The value of the shares amounted to (208,455,800) dinars. The ISX 60 price index closed at 423.35 points today, down (0.31%) from its closing in the previous session of (424.67) points. Trading shares of (16) companies out of (104) companies listed on the market.

The number of companies suspended by a decision of the Securities Commission became non-compliance with the financial disclosure instructions (22) companies.

The number of shares purchased from non-Iraqi investors in the regular market reached (30) million shares, at a value of (19) million dinars, through the implementation of (5) transactions on the shares of two companies. The number of shares sold by non-Iraqi investors in the regular market reached (200) thousand shares, at a value of (1) million dinars, through the implementation of one transaction on the shares of one company.

[DinarThug]

15 minutes ago, DinarThug said:

Iraq is discussing with Kuwait to postpone the payment of compensation

 

 

LINK

Foreign Ministry reveals the reason for the morning
visit to Baghdad

 

06/14/2020 10:16:42

 

A spokesman for the Ministry of Foreign Affairs, Ahmed Al-Sahaf, confirmed today, Sunday, the arrival of the Kuwaiti Minister of Foreign Affairs, Ahmed Nasser Al-Muhammad Al-Sabah, to the capital, Baghdad.

Al-Sahhaf said in a statement that "Foreign Minister Fuad Hussein received his Kuwaiti counterpart, who is on an official visit to Baghdad." He added, "The visit discusses a number of issues, which are concerned with developing bilateral relations between the two countries in various fields."

Kuwait said in the middle of last May, "There is an Iraqi-Kuwaiti agreement to resolve many outstanding issues, within the framework of the distinguished relations between the two countries." Sources indicate that the Iraqi compensation file for Kuwait and the postponement of its payment will be at the top of the Kuwaiti official's talks due to the economic and financial crisis that Iraq is going through due to the low oil prices and the Corona pandemic.

The visit of Al-Sabah is the first for a senior Gulf official after the formation of the government of Mustafa Al-Kazemi.

[DinarThug]

LINK

Parliamentary Finance: The border crossings are in chaos

 

 

17:13 - 6/14/2020

 

On Sunday, a member of the Parliamentary Finance Committee, Faisal Al-Issawi, considered that the border crossings are witnessing "great chaos" and the theft of funds from unknown parties.

Al-Issawi told “Information”, “The commander-in-chief of the armed forces, Mustafa Al-Kazemi, must send a security force from the anti-terror agency to control security as quickly as possible at the border outlets,” noting that “the arrival of that force does not mean their interference in financial and administrative issues there.”

He added, "The ports are currently experiencing chaos from unofficial bodies and need security controls to recover the money that went to unknown destinations."

Member of Parliamentary Finance Committee MP Jamal Kuju affirmed last Wednesday that Iraq loses 10 billion dollars annually due to corruption in its border outlets.