Al-Kazemi reformatory paper is completed !

[DinarThug]

LINK

An agreement between Al-Kazemi and Al-Barzani that Baghdad will bear the payment of the Kurdistan region's debt

 

 

5th October, 2020

 

Al-Jazeera Net revealed that there was an agreement between Prime Minister Mustafa Al-Kazemi and the former President of the Kurdistan Region, Masoud Barzani, that the central government would pay the region's debts amounting to about $ 30 billion in exchange for political support

The site said in a report published and seen by "Al-Eqtisad News", "a semi-formal agreement between Al-Kazemi and former regional president Masoud Barzani that includes the central government bearing the debts owed to foreign oil companies operating in the region without the approval of the federal government since 2014, amounting to about $ 30 billion In addition to paying the salaries of the Kurdish Peshmerga forces, which are estimated at 912 billion Iraqi dinars (736 million dollars) annually, in exchange for support in the upcoming elections

And the site added, Al-Kazemi began his first steps to implement this by agreeing to study these debts, after which another committee from the Federal Financial Supervision Bureau and the region would form to review these debts, in a sign interpreted as a prelude to Baghdad's bearing of them

[DinarThug]

LINK

Central Bank and Finance discuss the repercussions of the financial crisis
 

 

5th October, 2020

 

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhaif, discussed with Finance Minister Ali Allawi the repercussions of the financial crisis that Iraq is going through as a result of the decline in oil prices

A statement issued by the Central Bank of Iraq, received by "Al-Eqtisad News", said, "Today, the Governor of the Central Bank of Iraq, Mr. Mustafa Ghaleb Makhif, received the Minister of Finance, Dr. Ali Allawi, who congratulated the Governor of the Bank on his assumption of his new position." The statement added that during the visit, the repercussions of the financial crisis that the country is going through as a result of the decline in oil prices and its potential effects were discussed in light of the current economic indicators

According to the statement, the two sides stressed the importance of increasing coordination between the monetary and financial policies, in a way that contributes to overcoming the crisis and reflects positively on stability and economic growth in Iraq

[DinarThug]

LINK

49 billion dinars are the revenues of Umm Qasr during
September 2020

 

 

5th October, 2020

 

The General Customs Authority announced that the port of Umm Qasr has achieved financial revenues estimated at 49 billion dinars during September 2020, an  increase of 15% compared to the same month during the year 2019

The Director General of the General Customs Authority, Sadiq Howeidi, said, "This increase in the revenues of the ports confirms the progress of the authority’s steps towards bringing about a specific structural change in the work system

He talked about "preparing a plan to develop customs performance and limit the phenomenon of evasion, smuggling, manipulation of description, quantities, origin, violation of the law, customs instructions, standardization and quality control

Abbas pointed out that "the reform steps taken by Prime Minister Mustafa Al-Kazemi in terms of customs work are important practical steps on the road to real reform to combat the manifestations of corruption to ensure that financial resources fully enter the state treasury

[DinarThug]

LINK

Al-Kazemi stresses the refusal to link the security work to the political side

 

 

 

10/05/2020 15:33:28

 

 

The Prime Minister and Commander-in-Chief of the Armed Forces, Mustafa Al-Kazimi, held a meeting today, Monday, with the military and security leaders in Dhi Qar Governorate, in the presence of the Minister of Interior, during which the security situation in the province was discussed.
 

He stressed, according to an official statement, that "since assuming his duties as prime minister and commander-in-chief of the armed forces, he has worked to restore confidence in the security institution, restore its prestige and combat corruption within it, in a way that helps achieve security and stability throughout Iraq."

Al-Kazemi stressed, during the meeting, "the refusal to link the security work to the political side, as the overlap between them would negatively affect the achievement of security, and would also not take appropriate security decisions regarding security events, calling for the necessity to make efforts to enhance security throughout the governorate." 

He also called on "the security services to deal professionally with the demonstrators, to observe the principles of human rights and to respect freedom of opinion, expression and demonstration, and at the same time stressing his total rejection of aggression and encroachment on the security forces as they perform their security duties in maintaining security."

[DinarThug]

Economic resilience .. the subject of an international conference on Iraq

 

Tuesday 06 October 2020



Baghdad: Morning

An economic conference organized by (GIZ) on behalf of the German government dealt with the impact of the "Corona" pandemic on the economy, highlighting how to build economic resilience in Iraq during these difficult times, and address the most urgent issues, while exploring long-term opportunities to build a more robust economy.

Among the guests were officials from various Iraqi ministries, chambers of commerce, business associations, and private sector companies, as well as experts from the World Bank, the International Labor Organization, GIZ partners implementing in Iraq, university lecturers and researchers.

 

Jobs

 

The German ambassador to Iraq, Dr. Uli Diehl said, "Germany is strongly committed to supporting Iraqi efforts to develop a thriving private sector," adding, "Only the private economic sector can create job opportunities." There is no economy in the world that can achieve and maintain a good level of wealth without entrepreneurs or competitive industries. So they needed a government to put in place the legal framework, thus ensuring conditions for free entrepreneurs to develop their ideas. He stressed that the German government has already allocated more than 2.4 billion dollars to support projects in Iraq, and promised that Germany will continue to support them For Iraq. "

 

Business ideas

 

Head of the Economic Reform Unit and Advisor to the Prime Minister Salem Chalabi thanked the German ambassador for Germany's continued support, and expressed the Iraqi government's readiness for economic reform - as he sees it as the only way to make the country independent from oil sales, and to create sufficient job opportunities for the youth and the unemployed outside the public sector and embark on Innovation and new business ideas, and ultimately contribute to economic growth.

Diversify the economy

 

During the conference, the participants discussed possible measures to address the current economic crisis, for example through digitization, digital transformation, focus on agribusiness and the agricultural sector as well as support for startups, which could create new jobs. They all agreed that economic reform and removing bureaucratic obstacles are among the basic requirements for diversifying the Iraqi economy and developing a private sector that can provide job opportunities and support economic growth and flexibility in the long run. 

Professor Peter Bofinger, a well-known German economist and former member of the German Council of Economic Experts, said in a statement on the occasion of the conference: "This conference can be considered a starting point for motivating Iraqi youth to enter the labor market, reduce the current account deficit, increase government revenues and reform the public sector."
LINK

[DinarThug]

President of the National Investment Commission praises the work of the One Stop Shop

 

Tuesday 06 October 2020

 

Baghdad: Morning

 

The President of the National Investment Commission, Suha Dawoud Najjar, praised the work of the Single Window Department in the Authority for overcoming the difficulties faced by those wishing to invest.

A statement issued by the media office of the authority stated that "Najjar received the director of the Single Window Department, Nael Medhat Ismail, and discussed a mechanism to facilitate the completion of investment project files and capital owners from companies and individuals."

The statement added that «the president of the Commission praised the work of the department and the task entrusted to it in bypassing red tape and bureaucracy in order to expedite the completion of project files prepared for investment».

It is noteworthy that the Single Window Department in the National Investment Commission is the official and legal portal to facilitate and complete the procedures required by any investment project, and it is the department that works to expedite the completion of transactions and bypass bureaucracy and red tape in the details of the project’s work stages, thus establishing a successful investment climate and more smooth work.

LINK

[DinarThug]

LINK

A trade conference next month to increase US investments in the region

 

 

 

10/06/2020 13:34:29

 

 

The President of the Kurdistan Regional Government, Masrour Barzani, today, Tuesday, received Deputy Assistant Secretary of State for Iraq, David Copley.

A statement by the regional government stated that the two sides "discussed in the meeting attended by the US Consul General in Erbil Rob Waller the latest developments in the situation in Iraq and the region, and ways to consolidate relations between the Kurdistan region and the United States were discussed."

The US Deputy Assistant Secretary of State for Iraq expressed his country's readiness to strengthen relations with the Kurdistan region, especially in the commercial field, and to encourage American companies to increase their investments in the Kurdistan region. Copley added that "a trade conference in this regard will be launched next month," noting that "there are multiple investment opportunities for American investors in Iraq and the Kurdistan region."

For his part, Barzani stressed that one of the priorities of the ninth ministerial formation of the regional government is based on diversifying the sources of the economy, developing the agricultural sector, protecting local products and providing the largest amount of facilities for local and foreign investors. He also stressed the importance of settling problems with the federal government. The Prime Minister said: "Solving the outstanding problems between the Kurdistan region and the federal government is an important factor in achieving stability in Iraq and the region."

 

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

 

LINK

Barzani to an American official: The stability of the region is linked to solving the problems between Baghdad and Erbil

[DinarThug]

LINK

The Financial Committee reveals two ways to solve the salary crisis

 

6th October, 2020

The Parliamentary Finance Committee revealed, on Tuesday, two ways to solve the salary crisis, pointing out that its disbursement is in the hands of the Prime Minister and Federal Minister of Finance.

A member of the committee, Representative Jamal Cougar, said, "There are two ways to solve the salary crisis, one of which is brief, which is the Minister of Finance, in accordance with the powers that he possesses, to issue Treasury Bills to withdraw a loan that he needs within 20 days, which is the period allowed for him according to the law."

Cougar added, "There is a longer way, which is to wait for the House of Representatives to legislate a law on financing the fiscal deficit (borrowing)," stressing that "the Minister of Finance is supposed to implement his powers by issuing permits and at the same time to send the borrowing bill to the House of Representatives."

[DinarThug]

For the first time: "Secrets" before the current financial crisis ... A "strong word" message from the World Bank to Iraq, "Your bankruptcy is coming!"

2020-10-05

 

 

A money changer counts Iranian Toman as he sits at his small stall on a pavement along a walkway leading to the Shiite Muslim Imam Musa al-Kadhim shrine in the Kadhimiya district of Baghdad on February 4 2009. Iranian religious tourists are now coming to Many visit This holy shrine generating a healthy money exchange business along this walk way and at other religious sites. Iraq boasts many Shiite Muslim shrines. AFP PHOTO / SABAH ARAR (Photo credit should read SABAH ARAR / AFP via Getty Images)

 

Yes Iraq - Baghdad

 

The economic expert, Abdulrahman Al-Mashhadani, held the Ministry of Finance fully responsible for the delay in salaries of employees, while the World Bank warned in a previous report that Iraq would go towards "bankruptcy."

Al-Mashhadani said in a statement monitored by "Yis Iraq": "The latest financial committee statement, which was issued in response to the Ministry of Finance, which demanded a vote on the borrowing law, came because there is no other means followed by finance to finance operational budgets other than borrowing."

Al-Mashhadani pointed out that “the borrowing requested by the Finance Ministry is unreasonable, as it earlier demanded that it be loaned in order to meet the interests of the state until the end of 2020, but it is now returning and requesting the passage of the borrowing law, and this indicates that there is no plan at the Ministry of Finance to match the salaries of employees except resort To the internal debt ”.

He went on to say that "the central bank has a reserve estimated at more than 67 billion dollars, and the government has borrowed from it to meet the salaries of employees because it does not have sufficient resources," noting that "the World Bank had previously warned Iraq against resorting to internal borrowing, and it had expected that the reserve would decrease." The central bank has reached about 3 billion dollars, and this raises the possibility of Iraq going towards declaring bankruptcy, even if it is unlikely.

Al-Mashhadani continued by saying: “The current conflict between the government and the House of Representatives is the victim of the Iraqi citizen, who has passed more than 50 days without releasing his monthly salary, especially since he lost all his savings due to the Corona pandemic, and in light of a miserable banking system, there is no ease in it. To borrow from it ”.

Before that, a member of the House of Representatives, Sherwan Mirza, said that the state that relies on loans to provide salaries for employees will definitely declare bankruptcy, while posing 3 risks that will negatively affect the Iraqis due to the delay in exchange.

Earlier, a member of Parliament, Naji Redis, confirmed that the government cannot provide the salaries of employees without resorting to internal or external borrowing.

In a televised interview, Redis said: “The Financial Management Law is very clear, as the government cannot borrow internally or externally without formal approval from the House of Representatives,” indicating that “Talking about the government's ability to pay salaries without the need for the council’s approval to ensure new borrowing cannot be done. To be achieved on the ground.

He added that "the government is very flustered in its economic decisions, and this became evident when it sent the budget law and then withdrew it recently."

Before that, Minister of Finance Ali Allawi confirmed that paying employees' salaries was a matter related to the House of Representatives voting on the borrowing law, stressing that this step would address the current deficit in the country.

Allawi added in a televised statement: "The salaries of retirees for the current month were launched without any problem, pointing out that the salaries and allowances of employees will be launched during the next few days or weeks."

He added, "The amounts will be available if the parliament approves the borrowing law," stressing that "the borrowing law is very important because it meets the financial needs of the state and addresses the deficit in the budget."

LINK

[DinarThug]

LINK

Al-Bayati: The government will drop itself with the help of employees who are deprived of their salaries

 

 

 

08:30 - 06/10/2020

 

 

Political analyst Kamel Al-Bayati said that the Al-Kazemi government ignited the anger of the street and will lead itself to the abyss, pointing out that the employees will not stand idly by in the face of the fabricated financial crisis, and their anger may erupt at any moment to bring down the government.

Al-Bayati said to "the information", that "the Al-Kazemi government is still floundering in managing the financial crisis despite the parliament's vote on the borrowing law and the presence of oil money and other revenues from border crossings, taxes and others."

He added that “the threat of re-demonstrations in October on the 25th of this month, and the current financial crisis, all of which will lead to a million-dollar demonstration that the concrete blocks in Al-Akhdar could not withstand, and it is likely that millions of employees will come out to demand the overthrow of the government and complete regime change without reaching The elections are next June.”

He explained that "the life of the current government may be shorter than planned, due to the tampering with the pensions of employees whose number exceeds 3 million, in addition to the other segments of graduates and those demanding services, all of them will stand against the government in order to bring it down and establish a new system far from the sway of US parties and interference." 

[DinarThug]

Electronic collection

Sunday 04 October 2020

Yasser Al-Metwally 

 

While the world is moving towards using the foundations of the digital economy, one of the most important components of which is the electronic payment system. The world has made great strides in this important trend, with the disappearance of the use of paper currency, which has become a burden on economies, due to the many faults, difficulties and challenges of their dealings.

We find that Iraq is still indifferent to this project despite its methods largely through the initiatives of the Central Bank of Iraq and the private banking sector, which literally applied the decisions, legislation and instructions of the Central Bank in this regard.

And now the private banks have the full requirements for operating the electronic payment project, but ?!

What is striking about the tourist trips of Iraqis around the world is that you monitor most of the young people and some families use electronic cards smoothly and maintain their flow, shopping and other travel matters, while not being exposed to fraud, fraud and theft in a number of money exchange outlets abroad.

But you do not find this phenomenon prominent in Iraq, either because of the weak promotion of this mechanism, the weak culture of dealing with electronic cards, or the lack of payment centers.

What concerns us here is the digital economy, that is, at the level of use of ministries and government institutions, especially in the fields of electronic collection, taxes and other transactions, is still weak and does not rise to the level of the development that took place at the global level What are the reasons and motives? Or let's call it what are the challenges so that no one will be angry with us?

Therefore, you find a number of ministries trying to impede the project with flimsy arguments that do not deceive anyone, so they fabricate excuses and arguments and impede contracts with sober companies by imposing commissions on them that exude the bulk of their profits or their reluctance to deal.

Accordingly, the state as a whole is required to issue immediate and binding decisions to apply electronic collection and initiate the use of electronic payment tools according to a specific and binding time limit, thus we dry up the sources of corruption completely and achieve large and pure revenues to support the budget without the need for external and internal borrowing.

And as I mentioned, the banking sector is ready and qualified to implement the project with ease and ease, and electronic payment methods have been published in most of the sites, especially private banks, but most government banks still lack the expansion of the use of these technologies at a time when the need for electronic collection requires that government banks be qualified for that.

What is required is a governmental will to implement this project in an attempt to catch up with the world, in the applications of the high-end economy, and thus we salute the project focused on the shelves and the time has come to activate it, especially Iraq is preparing to receive giant global and local investments. This, God willing, and the promised agreements have been implemented.

LINK 

[southbeach]

Anyone know who owns/operates the world bank?  JPMorgan, Rothschild, etc.?

[fancy]

5 minutes ago, southbeach said:

Anyone know who owns/operates the world bank?  JPMorgan, Rothschild, etc.?

You named them. They operate in the USA as the Federal Reserve but are not a part of the US government. One day they will answer for their depiction to the One who sits on the Throne.

[DinarThug]

LINK

Statements to enhance stocks abroad

 

 

6th October, 2020

The Central Bank of Iraq invites all licensed banks to provide it with statements of strengthening the assets abroad of these banks according to (Form No. 4) on the date specified by the instructions for selling foreign currency numbered (2251/6) on (7/17/2017), otherwise the violating bank will be referred to Sanctions Committee in this bank.

[DinarThug]

LINK

The stock exchange stops trading next Thursday

 

 

6th October, 2020

 

The Stock Exchange announced the suspension of its trading on Thursday 10/8/2020

The Stock Exchange said in a statement seen by "Al-Iqtisad News", that "the Iraq Stock Exchange will not organize the stock trading session on Thursday, October 8, 2020, based on the decision of the Cabinet Secretariat to consider this day an official holiday for the existence of a religious occasion

The Stock Exchange confirmed the resumption of its sessions, which began on Sunday 11/10/2020

[DinarThug]

LINK

The second announcement circulated by the Central Bank of Iraq to all Iraqi banks about the Arab Financial Inclusion Week  (video)

 

 

 

5th October, 2020

 

The second announcement circulated by the Central Bank of Iraq to all Iraqi banks about the Arab Financial Inclusion Week.

(Be part of the family of financial inclusion in Iraq, for the first time an Iraqi superhero flying in Baghdad sky.. No, she was missed by a supergirl.. Follow the story of the superhero ′′Bunker Woman′′ who fights every criminal.  Its goal is to impact people's livelihoods)

 

VIDEO LINK

[horsesoldier]

The World Bank to Iraq - YOUR BANKRUPTCY IS COMING. Is this what Iraq is deliberately heading for or an apocalyptic warning from the WB to get their Shyte in one sock before they go down the Big Swirly ?
 

..... more popcorn 🍿 

[dinarham]

1 hour ago, DinarThug said:

LINK

Statements to enhance stocks abroad

 

 

6th October, 2020

The Central Bank of Iraq invites all licensed banks to provide it with statements of strengthening the assets abroad of these banks according to (Form No. 4) on the date specified by the instructions for selling foreign currency numbered (2251/6) on (7/17/2017), otherwise the violating bank will be referred to Sanctions Committee in this bank.

   "  Licenced  banks........,  being provided with "instructions for selling foreign currency " certainly looks like the end of the corrupt CBI currency auctions. No auctions=rv.

[DinarThug]

LINK

Al-Araji: Central Bank Reforms Are A Practical Step To Stop Currency Smuggling

 

6th October, 2020

Former Deputy Prime Minister Bahaa Al-Araji confirmed that the recent reforms of the Central Bank are a practical step to stop currency smuggling. He wished to work on other steps that make the banking sector supportive of the state's economy and not a burden on it.

Al-Araji said in a tweet on “Twitter” that was followed by the independent today, Tuesday, that “the recent reforms of the Central Bank are the practical step to stop currency smuggling. We hope to work on other steps that make the banking sector supportive of the state's economy and not a burden on it.

He added, "As for the objections of some personalities, they are a reaction as a result of compromising their personal interests after the closing of the commissions they were getting!"

[DinarThug]

23 hours ago, DinarThug said:

CNN. Broadcasting While Drawing With Crayons On The White Paper !

Al-Kazemi reformatory paper is completed

 

5th October, 2020

An informed source stated that the reform paper promised by the government of Prime Minister Mustafa Al-Kazemi, related to the economic situation that Iraq is going through, has been completed. The source said that “the white paper consists of two parts, and includes reforms to the financial situation in the country and will be presented to Al-Kazemi during this week and after that to the Council. Representatives

He added that "the reforms included in the paper included radical solutions to gradually save the country and stabilize its financial and economic situation."

The Minister of Finance, Ali Abdul-Amir Allawi, confirmed that Iraq will move from the traditional budget to the program budget within a year and a half, indicating that the tax rate will not be high, but the citizen will not accept it for not providing the necessary services.

Allawi said in a statement to the official agency, that “the budgets for the years 2021-2023, we started working on them now, but they will not be the main ones, because the Ministry of Finance is currently unable to implement it in a complete way, but it may be hindered for a year and a half so that we can move from the method of drawing the budget. Traditional to balance programs”.

He pointed out that "citizens will not respond to taxes, and they may have a justification, because the state does not provide them with the necessary services, so the level of taxes must be linked to services and their quality." He added, "Tax revenues constitute a very small percentage of the state's resources, which are not high if compared to any other country, as the tax structure is reasonable in Iraq." He explained, "It is assumed that we get 8 trillion dinars from taxes, while we are currently getting less than one trillion, because there are large exemptions and exemptions." He stated, "Iraq contains a kind of state seizure, as it is not necessary for this seizure to be by the parties, but it may be from all parties that have an influence and influence on the decision-making."

 

LINK

Paying employees' salaries, starting tomorrow, Wednesday

 

10/06/2020 18:39:45

 

The Ministry of Finance announced that the salaries of employees will be paid, starting tomorrow, Wednesday.

"According to the directives of Prime Minister Mustafa Al-Kazemi, the Ministry of Finance confirms that late payments of public sector salaries for the month of September will begin to be paid in full, starting tomorrow, Wednesday (10/7/2020) and the following days," the ministry said in a statement received by Al Furat News.

The ministry indicated that it is "obligated to fulfill its legal obligations despite the acute shortage of revenues facing the country, and looks forward to cooperating with the House of Representatives and the relevant authorities in order to develop quick solutions to address the current economic and financial crisis."

The ministry added that it would like to point out that "the financial pressure in the country will continue in the foreseeable future, as the country's main source of income from oil exports will be constantly affected by the global decline in demand and the massive outbreak of the Corona pandemic."

It indicated that it "appreciates the urgent demands on the federal budget from all directions. Iraq is facing an economic emergency that will be bypassed by national unity and cooperation between all parties." She pointed out that "the task force led by the ministry has completed the" white paper "for economic reform, and the ministry is about to finalize the 2021-2023 budget. We are confident that the reform and change process will lead to a more robust economy and contribute to raising the living standards of our people.

[gregp]

3 minutes ago, DinarThug said:

 

LINK

Paying employees' salaries, starting tomorrow, Wednesday

 

10/06/2020 18:39:45

 

The Ministry of Finance announced that the salaries of employees will be paid, starting tomorrow, Wednesday.

"According to the directives of Prime Minister Mustafa Al-Kazemi, the Ministry of Finance confirms that late payments of public sector salaries for the month of September will begin to be paid in full, starting tomorrow, Wednesday (10/7/2020) and the following days," the ministry said in a statement received by Al Furat News.

The ministry indicated that it is "obligated to fulfill its legal obligations despite the acute shortage of revenues facing the country, and looks forward to cooperating with the House of Representatives and the relevant authorities in order to develop quick solutions to address the current economic and financial crisis."

The ministry added that it would like to point out that "the financial pressure in the country will continue in the foreseeable future, as the country's main source of income from oil exports will be constantly affected by the global decline in demand and the massive outbreak of the Corona pandemic."

It indicated that it "appreciates the urgent demands on the federal budget from all directions. Iraq is facing an economic emergency that will be bypassed by national unity and cooperation between all parties." She pointed out that "the task force led by the ministry has completed the" white paper "for economic reform, and the ministry is about to finalize the 2021-2023 budget. We are confident that the reform and change process will lead to a more robust economy and contribute to raising the living standards of our people.

This is going to happen fast! Thanks!!!

[nannab]

Yeah!!!  Thanks Mr Thugs  because we are winning PB too.    

12 minutes ago, gregp said:

This is going to happen fast! Thanks!!!

  🤞🤞  gregp!!!!

[DinarThug]

19 minutes ago, nannab said:

Yeah!!!  Thanks Mr Thugs  because we are winning PB too.    

Sweet - Because Charlie Said That He Can Get Us Some ‘Tiger Blood’ !  

 

 

     

[southbeach]

Come RV, not Go RV.  We want the rv to come to us, not go from us.  I’ve always wanted to say this because words as we know are important.  Just saying.

[DinarThug]

14 hours ago, DinarThug said:

Economic resilience .. the subject of an international conference on Iraq

Tuesday 06 October 2020


Baghdad: Morning

An economic conference organized by (GIZ) on behalf of the German government dealt with the impact of the "Corona" pandemic on the economy, highlighting how to build economic resilience in Iraq during these difficult times, and address the most urgent issues, while exploring long-term opportunities to build a more robust economy.

Among the guests were officials from various Iraqi ministries, chambers of commerce, business associations, and private sector companies, as well as experts from the World Bank, the International Labor Organization, GIZ partners implementing in Iraq, university lecturers and researchers.

 

Jobs

 

The German ambassador to Iraq, Dr. Uli Diehl said, "Germany is strongly committed to supporting Iraqi efforts to develop a thriving private sector," adding, "Only the private economic sector can create job opportunities." There is no economy in the world that can achieve and maintain a good level of wealth without entrepreneurs or competitive industries. So they needed a government to put in place the legal framework, thus ensuring conditions for free entrepreneurs to develop their ideas. He stressed that the German government has already allocated more than 2.4 billion dollars to support projects in Iraq, and promised that Germany will continue to support them For Iraq. "

 

Business ideas

 

Head of the Economic Reform Unit and Advisor to the Prime Minister Salem Chalabi thanked the German ambassador for Germany's continued support, and expressed the Iraqi government's readiness for economic reform - as he sees it as the only way to make the country independent from oil sales, and to create sufficient job opportunities for the youth and the unemployed outside the public sector and embark on Innovation and new business ideas, and ultimately contribute to economic growth.

Diversify the economy

 

During the conference, the participants discussed possible measures to address the current economic crisis, for example through digitization, digital transformation, focus on agribusiness and the agricultural sector as well as support for startups, which could create new jobs. They all agreed that economic reform and removing bureaucratic obstacles are among the basic requirements for diversifying the Iraqi economy and developing a private sector that can provide job opportunities and support economic growth and flexibility in the long run. 

Professor Peter Bofinger, a well-known German economist and former member of the German Council of Economic Experts, said in a statement on the occasion of the conference: "This conference can be considered a starting point for motivating Iraqi youth to enter the labor market, reduce the current account deficit, increase government revenues and reform the public sector."
LINK

 

LINK

Germany allocates 2.4 billion dollars to support Iraqi special projects

 

 

6th October, 2020

 

The German embassy in Iraq announced that the German government has allocated 2.4 billion dollars to support projects in Iraq

"Germany is strongly committed to supporting Iraqi efforts to develop a thriving private sector, because the private economic sector can create job opportunities," said the German ambassador to Iraq, Uli Diehl, in his opening speech at a conference organized by the German GIZ organization, via the Internet

"There is no economy in the world that can achieve and maintain a good level of wealth without entrepreneurs or competitive industries," he said. He stressed that "the German government has already allocated more than 2.4 billion dollars to support projects in Iraq," with a date that "Germany will continue its support for Iraq

Iraq is experiencing a stifling financial crisis, as a result of the public sector’s control over economic activity, as well as the unilateralism of the economy that depends on oil revenues by 97%, according to the Ministry of Finance indicators

During the two-day conference, participants discussed possible measures to address the current economic crisis, for example through digitization and digital transformation, a focus on agribusiness and the agricultural sector, as well as support for startups that could create new jobs

They all agreed that economic reform and removing bureaucratic obstacles are essential requirements for diversifying the Iraqi economy and developing a private sector that can provide job opportunities and support long-term economic growth and flexibility