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Employees' salaries ... a warning against adopting two options to secure them, and fear of rejectionist international action


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2,210 Economie 2020/10/17 19:03 ht 


Baghdad Today - Special 

 

The economic expert, Salam Sumaisem, warned, Saturday, October 17, 2020, the government against disposing of foreign currency reserves and gold to pay employees' salaries, indicating that "this plan will have severe risks to the Iraqi economy.

Sumaisem said in an interview with (Baghdad Today), that "there are severe risks to the Iraqi economy in the event that the state deliberately disposes of foreign currency and gold reserves," noting that "international organizations, including the International Monetary Fund and the World Bank, will have a role opposing this step." .

He added that "the rise that occurred today in the price of the dollar is the result of a trend that may be the exchange rate of 1500 dinars," noting that "this step will provide the government with large amounts of Iraqi cash to meet the local need and reduce the size of the economic crisis the country is going through."

Sumaisem indicated that "the Iraqi economy will be hit by inflation, and citizens with fixed or limited income will pay the price for that."

Earlier, a member of the Parliamentary Finance Committee, Naji Al-Saeedi, said today, Saturday, that the new monetary issue to finance internal borrowing will contribute to raising the exchange rate.

Al-Saeidy wrote in his Twitter account: "The Central Bank's use of the new cash issue to finance internal borrowing (to fill the budget deficit) will lead to an increase in the exchange rate of the dollar against the dinar, which will lead to an increase in the price of goods."

He continued: "The beneficiaries of this process are the joint banks in the window of selling the currency," considering it "legal theft of the people's money."   

On Saturday (October 17, 2020), independent MP Asaad Al-Morshedy said that the jump in the dollar’s exchange rates today is linked to internal and external factors. Al-Morshidi said in an interview with (Baghdad Today), "The high exchange rate of the dollar in the Iraqi market during the past hours is due to multiple reasons and factors, including the statements of the Minister of Finance and the Central Bank." 

He added, "There are other reasons that prompted this rise, which is the US pressure on the Iraqi government, in light of the hot files in the scene, including the bombing of the embassy and the threat to close it, all of which lead to an increase in the exchange rates of the dollar and the rest of the basic materials."

Al-Morshidi added, "There is no global crisis that leads to a rise in exchange rates, but there are international and internal bodies that stand behind the recent rise to achieve a specific agenda in the Iraqi scene."

The exchange rates of the dollar jumped in the main stock market and local markets during the past few hours.

The Kifah Stock Exchange recorded 125.700 dinars against 100 US dollars, while last Thursday the dollar exchange rate recorded 124.400 dinars per 100 dollars. Sale price: 127,000 dinars per $ 100. Purchase price: 126,000 dinars per $ 100.

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Finance issues an explanatory statement about the "white paper" and its positive points https://alahadnews.net/123474/العراق/محليات/   Author: AhadNA3 On 10/21/2020 - 3

Hurry up, hurry up ..... HURRY THE HELL UP ALREADY !!!!   okay, I’m calm..... we’ll, not so much as I thought. Yes, I’m very impatient these days.

GOOD!

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7 hours ago, King Bean said:

And where's The Great Carnac when we need to know the rate???  LOL. :lol:


The Answer Is - ‘Sis-Boom-Bah’ ! :blink: 

 

Carnac GIFs - Get the best GIF on GIPHY

 

And The Question ..... Describe The Sound Of A Sheep Exploding ? :o

 

:D  :D  :D 

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This economist thinks that Iraq should not honor its debts by paying salaries and pensionsthat are owed . World Bank andf IMF don't approve of this opinion as they are all about settling debt . 

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17 minutes ago, horsesoldier said:

Uhm . . . Suicidal would be more in keeping with this idea to to raid the CBI coffers.

      Largest bank heist in recorded history happened in 2003 when US troops cleared out all the gold  repositories within minutes of Saddam's high tailing it out of Bagdad. This required troops ,aircraft, precision planning , intelligence,and great wherewith all to accomplish .

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9 hours ago, King Bean said:

And where's The Great Carnac ???  LOL. :lol:


May An Excited Yak Tailgate Ur Sister ! :o 

 

Carnac GIFs - Get the best GIF on GIPHY

 

:D  :D  :D 

 

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The White Paper ... Radical reforms to a rentier economy


Sunday 18 October 2020
 

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Baghdad: Hussein Faleh 

 

Economists believe that the white paper presented by the government includes radical reforms to the rentier economy, noting that it has defined a clear economic vision for the government to move towards activating the productive sectors, diversifying the country's non-oil resources and achieving sustainable development, while they called for adding some proposals that would maximize the state’s financial resources.

Economist Safwan Qusay said in a statement to "Al-Sabah": "The process of having a white paper that can be discussed by various parties at the academic level and political parties opens the way for putting touches on this paper."

 
Adopting a new financing approach
 
He added that "the paper is based on the transfer of the Iraqi economy from government funding to thinking of financing through banks and money markets in the sense of adopting economic development on a new approach to financing, which is moving savings towards Iraqi banks." And then he continued: "And then refinancing the private sector in order to be the leader." , As well as liberating part of the idle capital at the level of federal ministries, "noting that" some ministries have losing companies. These companies can be sold through the capital markets and move part of the government capital, and thus there will be new revenues for the Ministry of Finance. " "The long view of this paper is that it tries to reduce government spending or support towards the Ministry of Industry or the Ministry of Agriculture, as there are salaries in some of the departments of these ministries paid by the Ministry of Finance while these ministries are supposed to be financially independent," indicating that "In practice, there is a gradual reduction of funding at the level of 30 percent annually until these ministries are financially independent. "
 
Smart exchange rate setting
 
Qusay stressed that "the paper needs to be a tool to move the Iraqi economy, in addition to the outlets for selling the currency. It is possible to review the exchange rate," calling for adding some proposals on the paper to mature it, such as determining an intelligent exchange rate that distinguishes between the type of imported goods.
He added that "there are consumer goods that are supposed to not sell the dollar at the official price, that is, at the level of 1182, for investment activity or the purchase of goods that could create job opportunities inside Iraq, but without that it is more than an exchange rate depending on the type of imported goods."
He pointed out that "the process of raising the exchange rate will make there are quick revenues that will flow to the central bank and through which the deficit can be reduced, in addition to the issue of the upper limit of salaries at the level of all groups, in addition to what is included in the issue of salary scale justice and this needs legislation." "The paper is called the white paper. If the Iraqi parliament has a change in its course in another direction, there is nothing wrong with that, but in practice, the partnership between the government and parliament in changing the course of public spending and searching for new resources is the inevitable approach, because Iraq now has no choice not to pass this paper."
He went on to say that "the maturity of the paper is fine, but disabling it means that Iraq will continue to be deficient in financing salaries and social welfare items, because otherwise we will resort to monetary reserves and the economic disasters resulting from this issue."
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Electronic payment is a necessity to change the reality of transactions


Sunday 18 October 2020


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Baghdad: Morning

 
 
Emphasizing the inevitability of benefiting from advanced technologies in the financial sector and the importance of electronic payment for its positive role in economic life and changing its reality to a better level. Director General of the Payments Department at the Central Bank, Duha Abdul-Karim stressed "the importance of keeping pace with the technical developments taking place in the world to achieve the central goal of shifting from cash to electronic transactions, as the global financial market witnesses continuous technical developments that enhance the beneficiaries' confidence in the banking system."

Abdul Karim had indicated that "the transfer of salaries and their disbursement through electronic payment is an important and positive transformation that brings great benefit to the national economy and maintains a large percentage of liquidity within the banking system."

Abdul Karim said, "Our goal is to make every citizen have electronic payment technology through specialized cards in this regard and other products that can provide fast and safer services," stressing the importance of electronic payment being the key to the transfer of the cash mass from homes to the banking system and achieving Its developmental role is through employing it in project service, thus developing the relationship between the banking sector and the citizen, "noting that this provides credit to the citizen who needs it in various Life fields.

And she cautioned, "The need for every employee to have a bank account in a specific bank, so that we can adopt electronic payment technology and achieve its goal, and there must be a unified database in the Ministry of Planning for all public institutions ".

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58 minutes ago, DinarThug said:

Our goal is to make every citizen have electronic payment technology through specialized cards

 

58 minutes ago, DinarThug said:

stressing the importance of electronic payment being the key to the transfer of the cash mass from homes to the banking system

 

... thanks thugs this should be interesting how the banks issue the cards and get the money outside the system back into it ... time limits ?      

 

 

 

 

image.jpeg

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20 minutes ago, 3n1 said:

... thanks thugs this should be interesting how the banks issue the cards and get the money outside the system back into it ... time limits ?      

image.jpeg

 

10 minutes ago, screwball said:

3 months I say


Fyi - The Laughing ‘Up Votes’  (:lol:) - That Both 3n1 And Screwball Received Immediately Above Are ‘Clown Pluses’ And Are Not Mocking What They Said ! ;) 



This Time ...  :rolleyes: 

 

 

Although Poor Screwball (Living Down-Under) - Might’ve Looked At It And Thought That He Had Received A Frown ! :o

 

:D  :D  :D 

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The Central Bank comments on the comments to reduce the price of the dinar against the dollar

 

 

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18th October, 2020

 

 

The Central Bank of Iraq confirms that the statements that have spread recently regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it and do not represent the official position of the Central Bank, and this was accompanied by a number of rumors released by speculators, which affected the price (temporarily).

This bank declares that the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent. Note that its foreign currency reserves are "very good" according to all international indicators, in a way that enables it to overcome the current crisis that the country is going through.

This bank hopes that the media will rely exclusively on the sources of the Central Bank in this regard.
 

The Central Bank of Iraq
Media Office
October 18, 2020

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Central Bank: The dollar’s exchange rate is fixed and our foreign currency reserves are very good    LINK

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The central bank denies reducing the exchange rate of the dinar against the dollar    LINK

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New statement from the Minister of Finance about the white paper

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18th October, 2020


Minister of Finance, Ali Allawi, stressed the importance of the white reform paper to overcome challenges. "The reform paper diagnosed with a scientific and objective vision the economic and financial problems that have accumulated over decades and that were not the product of the current stage due to wrong policies that were tired in the past," Allawi said in a statement, which was received by Mawazine News.

He added, "These problems and cracks are a real challenge that can be overcome or surpassed by a strategic planning method based on an objective analysis of the reality and extracting strategic goals as urgent priorities to address these problems."

The minister stated that "the reform paper boldly identified the most important productive, economic and financial sectors, expanding the field of investment and upgrading the private sector in the short term to advance them quickly in support of improving income and creating decent job opportunities, which would reduce unemployment and poverty rates in society."

Allawi stressed, "It will also work to activate official institutions and civil society organizations to support the wheel of production, raise the level of productivity that is highly reliable, and reduce consumption rates." 

 

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Minister of Finance: The reform paper identified the economic and financial problems due to the wrong previous policies  LINK

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They have been double dipping into the For. Reserves and it is going down down down year over year since 2014. Iraq hasn't bought gold in over three years. I wouldn't say your Foreign Currency reserves are "very good", especially when you must invoke the exchange rate with the dollar and your currency is not internationally traded.  Nah I would say at best Iraq is treading water. Well it is time to sink or swim and climb aboard or sink into the depths of the ocean of despair. Another study of the dinar is like saying I am going to study the fungus of my big toe for the umpteenth time before applying any antifungus cream. Why? Because there is a fungus among us!

 

And now for your veiwing pleasure 10 hours of hypno toad!

 

 

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19 minutes ago, Theseus said:

They have been double dipping into the For. Reserves and it is going down down down year over year since 2014. Iraq hasn't bought gold in over three years. I wouldn't say your Foreign Currency reserves are "very good", especially when you must invoke the exchange rate with the dollar and your currency is not internationally traded.  Nah I would say at best Iraq is treading water. Well it is time to sink or swim and climb aboard or sink into the depths of the ocean of despair. Another study of the dinar is like saying I am going to study the fungus of my big toe for the umpteenth time before applying any antifungus cream. Why? Because there is a fungus among us!

 

And now for your veiwing pleasure 10 hours of hypno toad!

 

 

Always appreciate your (over) views. 

 

 

 

 

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Iraq’s al-Sabah Newspaper cited German embassy as saying that Kadhimi will discuss bilateral ties, including cooperation in the war against terrorism and the economic crisis during his upcoming meeting with Chancellor Angela Merkel.

Kadhimi’s agenda for his visits to London and France is believed to be similar.

The trip, according to a statement by Iraq’s Central Bank, whose director is accompanying PM Kadhimi, is said to last four days.

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Headed by Al-Kazemi ... a high-ranking government delegation is on a tour to France, Germany and Britain

 

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18th October, 2020


The Central Bank of Iraq announced, on Sunday, that Governor Mustafa Ghaleb Mechif will participate in the European tour of the Prime Minister, Mustafa Al-Kazemi, to discuss banking relations and financial investment between Iraq and European countries.

The bank said in a statement that Mawazine News received a copy of, that "the governor of the Central Bank of Iraq, Mustafa Ghaleb, will participate, accompanied by a high-level government delegation headed by the Prime Minister, this Sunday, in a visit to France, Germany and the United Kingdom."

The statement added that "the governor will meet during the four-day visit with counterparts to discuss a number of common issues, especially "raising the name of Iraq from the European Union's high-risk list as well as discussing the development of banking relations and financial investment between Iraq and these countries because of the economic weight they constitute in Europe and the World.”

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Printing new currency denominations that exceed 50 thousand.” A parliamentary clarification that settles the situation 

 

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1,970 Economie 2020/10/18 18:47 ht 


Baghdad today - Baghdad 

 

A member of the Economic and Investment Committee, Nada Shaker Jawdat, commented, Sunday (October 18, 2020), on the fact that there is a government tendency to print new currency issuances that exceed 59,000. 

In an interview with (Baghdad Today), Jawdat said, "The Economic and Investment Committee does not possess any information about the existence of government intentions to print new currency denominations exceeding the 50,000, and no opinion has been received from the competent executive authorities in this regard."

And she added that "if this matter happens, it will destroy the Iraqi currency, because the Iraqi dinar will collapse in front of hard currencies," noting that "this step will be greatly supported by parliament and the people."

Earlier, the Central Bank of Iraq issued today, Sunday (October 18, 2020) a statement on reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that this news represents the viewpoint of the one who stated it, not the bank. 

The media office of the Central Bank stated in a statement received (Baghdad today), that “The Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank. This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily). "

According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that "its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis the country is going through." 

The statement continued, "This bank hopes that the media will exclusively use the sources of the central bank in this regard."

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Despite its rapid rise ... Iraq sells huge sums of dollars


2020-10-18
 
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Yes Iraq - Baghdad

 

Today, Sunday, a document issued by the Central Bank of Iraq indicated that the bank has sold more than 180 million dollars in a foreign currency auction, as this comes despite the high dollar against the Iraqi dinar.

 

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The exchange rate of the dollar in Iraq yesterday reached 128 thousand dinars per sheet, while other provinces recorded 125.750 thousand dinars, and others 126,000 thousand.

Today, Sunday, the Central Bank of Iraq described its foreign currency reserves as "very good" and that it will enable it to overcome the current financial crisis that afflicts the country due to low oil prices, and the outbreak of the new Corona virus.

The central bank’s position comes after a big jump in the exchange rates of the US dollar against the Iraqi dinar.

The Central Bank of Iraq said in a statement that “the statements that have spread recently regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated them and do not represent the official position of the Central Bank,” indicating that “this was accompanied by a number of rumors launched by speculators, namely What affected the price (temporarily) ”.

He declared that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that its foreign currency reserves are "very good" according to all international indicators and in a way that enables it to overcome the current crisis the country is going through, according to the statement.

The Central Bank expressed its hope that "from the media, the sources of the Central Bank will be approved exclusively in this regard."

For his part, Minister of Finance Ali Allawi stated that the reform paper diagnosed with a scientific and objective vision the economic and financial problems that have accumulated over decades and that were not born in the current stage due to wrong policies that were tired in the past.

Allawi said in a statement that "these problems and cracks are a real challenge that can be overcome or overcome by the method of strategic planning based on objective analysis of the reality and extracting strategic objectives as urgent priorities to address these problems."

He added that "the reform paper boldly identified the most important productive, economic and financial sectors, expanding the field of investment and upgrading the private sector in the short term to advance it quickly in support of improving income and creating decent job opportunities, which would reduce unemployment and poverty rates in society."

The Minister of Finance stressed that his ministry "will also work to activate official institutions and civil society organizations to support the wheel of production, raise the level of productivity that is highly reliable, and reduce consumption rates."

The Council of Ministers recently approved in one of its sessions what it called the white paper for economic and financial reform in Iraq.

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Dr.. Mazhar Muhammad Salih *: Iraq White Paper: The Constitution of the Next Financial and Economic Reform

 

10/18/2020

 

 

In recent days, the Iraqi government discussed reform principles in the financial and economic fields, which it collected in a document called (the White Paper) prepared by a specialized Iraqi government team, and after its approval was referred to the House of Representatives with a view to legislative support. The white paper constitutes the government's start towards adopting a package of measures in managing the economic policy path and according to a principle called: Checks and Balances to bring about the required balance in procedures and policy paths after years of unfortunate economic disruption. As the relevant audit and correction package requires addressing the state of weak cooperation between the three authorities and the mistakes that have been committed in taking relevant decisions in the renaissance of the private sector and its role in development and the increasing exclusivity or centralization in decision-making towards the priority of government bureaucracy and laxity in oil rent in building empty operational budgets From (governance) to a large extent.

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

Mazhar Muhammad Salih - Iraq White Paper - The Future Financial and Economic Reform Constitution - Written

LINK

 

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The economic reform papers and the following shows the appearance of Muhammad Saleh and the next economic one. Iraq White Paper: The Constitution of Reform
The Iraq White Paper: The Constitution of Reform  The Iraq White Paper: My Constitution and the Future Economic and Financial Reform

The Iraqi government discussed reform principles in the past days, prepared by a specialist, and referred it to a document called (the White Paper). The White Paper forms the beginning of the government administration of a process towards adopting a package of measures in the economic policy, according to a principle called: Balances and Checks, in order to bring about the balance of measures required in the public policy paths after years From the regrettable economic imbalance, when the three authorities seek the relevant audit and correction package, it aims to address the state of weak cooperation in the renaissance of the private sector and its role in making relevant decisions in terms of development, errors in the growth of exclusivity or fear Decision-making towards the prevalence of government and central bureaucracy in building operational budgets devoid of (governance) that affects the income to a large extent. 

It is necessary to initiate structural changes and correct the distortions that have affected the public financial policy of Iraq in particular and the policy joints related to investment, employment and sustainable development in general, in order to achieve growth in the real economy’s functioning, and as follows:

 

First: Financial sustainability


A- The white paper aims to restore the balance of public finances and the government’s adherence to the country's fiscal bill, in general and in terms of and with the components of the gross domestic product (GDP) 63% in general, through structuring the expenditures in the resources of the federal public budget. 
In terms of distribution and privatization, approximately 40% of GDP will take a change in the average and long-term cities, in order to redraw the structure of expenditures and revenues, especially to address the deviation in operating productive expenditures in exchange for neglecting investment spending, which is of a severe nature. 
Consumption is the criterion for the country's future and prosperity, which is the most important governmental concern, and what caused the deterioration of economic growth over the past more than a decade. Therefore, the development of the infrastructure may constitute an obstacle to the developmental activity of the government, undermining the infrastructure of Iraq and impeding the transition to mostly growth in the goals of sustainable development, not  of the annual GDP, is less than (7%), that is, taxes are more than the weakness of population growth or the growth of the workforce.

B- There is a path that the White Paper came up with to withdraw oil revenues and reallocate them towards its development principles as assets A capitalism that invests to maximize growth and income for those resources and to stop government salaries from losing resources and dissipating into the phenomenon of operating spending, which formed 25% of the gross domestic product (GDP), or is currently consuming those salaries, pensions, grants, all oil revenues, internal debts, and revenues In order for the budget and its resources to become consumer-oriented, in an economy that lacks development. D to spending, consumption, or in progress, led by excessive salaries, 
Based on the foregoing, one of the first tasks of the White Paper is to make government salaries and pensions not exceed the long-term rate of 12.5% of GDP instead of 25% of the GDP and are not currently consumed as, we have noted, no Most of it is the result of oil and non-oil revenues, the internal public debt, and the accumulation of building up Iraq's economic future and the succession of its future generations, which is extremely dangerous.
It is important that establishes a base for production and reduction in terms of production, but this percentage and its decrease do not affect salaries and pensions, but rather their escalation will be linked to the same growth as the booming GDP in the future, which will expand, diversify, and increase in the interest of reform principles. 
The current and what it is targeting and the private activity that is due to the presence of an added annual work force, which is estimated to expand employment opportunities by about 400 thousand. 
The job offer continues in the new work and the rising growth numbers in any opportunity from the same time in the private activity and making the public job in And they must be absorbed in a more productive year. 
It is striking in the budget that the public subsidy still absorbs about 50% of its expenditures, which is distorted and partially distorted support to the government sector, its installations and directed in its years that have been suspended from work since the year 2003 with the protection of half a million workers, and the number of workers It is preferred for services and products supplied by the state at the same time for the rich and those with weak controls, and for the general income, the average and the poor benefit from it, and it is considered one of the highest budgets of support rates in the countries of the world. 
Therefore, spending must be addressed in terms of waste. 
His paper also came P, and eager support  The fragility and poverty of the economy 15% to 5%. 
The percentage of GDP in the poor and largest strata improves on the condition that poverty rates are increased Its percentage exceeded 30% of the total population currently. 

 

Second, economic sustainability, investment and employment: and economic diversification, diversification of sources. 

There is a significant correlation between revenues in the general budget, especially non-oil revenues, and the other in terms of taxes, fees and government resources, which are not all of which today constitute the following in the budget revenues The mentioned and less than 3% of the GDP, only 6% of the total GDP, which means the trend towards diversification of the national economy with its four important pillars: agriculture, tourism and industries on the other hand. 
Today, the contribution of agriculture and the manufacturing industry is still more than 6% of the country's annual income, and 37% of the Iraqi workforce is the public sector, whether or not, and this is what the following paper took up: 
In the distributional aspects, the economic sustainability should be pushed by directing the budget itself by virtue of the role of the budget in government loans and public financing directions to the activities that employ the labor force and the diversified economy at once instead of service in the growth of non-productive employment of the working forces in the public Or instead of which is fairness, it is not one of the sector’s duties to undertake investment projects, government and waste events that have affected the country's economy through investment projects in government investments that are currently approved, transferred and discontinued. 
There is a cycle of approving annual government investment projects, Cycle Enterprises Government, or dozens of budget projects, which opens the way to a mechanism that expands and narrows according to financial abundance, which varies according to its priorities.
Some of them can rise in the private sector in times of financial abundance (and no amount of investment in it) Instead of the government (from 2008 until 2019, or a project that has been completed with an amount of 6,000 milliliters per year, an investment project begins with a view that as soon as there is a deficit, the financing is optional, and a procedure is taken to stop it and a. 
And the introduction of new liabilities in any investment year, the light of available funding continues to be implemented in the government. 
In other words, the nomination is to be continuous, and hundreds of other incomplete projects must be stopped due to the lack of funding, especially municipal projects. 
The task associated with people's lives at a time when the only energy projects (oil and electricity) were prioritized in financing even in times of financial deficit. Energy projects consistently account for more than 50% of the allocations in the papers. 
The Rep The economic and of the Budget again (within the j. 
When funds are available, the annual government investment in the project cycle is actually implemented (the problem of launching those stalled projects begins with difficult priorities to determine the costs again, as the cost of resuming the stalled projects increases with any budget under a financial grant, so that the effect is achieved. 
Sometimes it is chosen without justification, allocations and regional pressures or economic returns to it The problem of the high cost of returning the stalled projects arises due to what the implementing agency requests for the cost and the lapses of the stalled project in order to continue adjusting costs under the section (spare parts F) and for the approved incomplete projects themselves. 
The benefit and the cost of extinction of the previously implemented parts and it is noticed that all of these projects were approved without the availability of technical and economic feasibility studies, which results in the cost center assessment being lost. 
More than 6000, the cost of which is more than Rs. 
There are, as we mentioned above, the draft law of 100 billion dollars, and the investment budget is not It has the ability to continue financing it to finance energy projects and some are linked to financing projects related to infrastructure that are not foreign under international cooperation agreements. 
The ability to run stalled projects again is only 4% more numerically than the number of the currently approved projects. As mentioned here. 
In the white paper, the economic vision expands progress in the formation of a binding economic project constitution. This is the future financial and economic life of the country as it is legally and economically to act upon it. Financial reform requires strong political will. 

(*) Economic researcher and writer was the first. Yim, Deputy Governor of the Central Bank, the fortune teller, and now reserved for the Economic Rights Sprinkler Network. The Iraqi publication spraying allows for the re-entry of the emblem to the T / October 2020 publication of the source. iraqieconomists.net/

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A director in the central bank sets his forecast for the dollar exchange rate within days and reveals a forthcoming measure

 

Posted 2 hours ago

Baghdad today - Baghdad 

 

The General Director of the Central Bank branch in Basra Governorate, Qasim Raheeb, suggested that the exchange rate would continue to decline in the coming days.

Raheef said in a press statement, followed by (Baghdad Today), that “the statements made by some members of Parliament, and other parties, that there is an intention to raise the exchange rate of the dollar in the coming days, created a crisis through the increase in demand for the dollar, which led to an increase in its exchange rate. For high numbers ”.

He continued: “There is no truth to the news that talk about an overnight decision by the central bank to raise the dollar exchange rate,” noting that “the central bank will launch sums of money to reduce the dollar’s exchange rate to 121 or 120 for every 100 US dollars, on selling exchanges. And buy the dollar, within days. ”

Today, Sunday (October 18, 2020), the Central Bank of Iraq issued a statement regarding reducing the exchange rate of the Iraqi dinar against the US dollar, while confirming that this news represents the viewpoint of the one who stated it, not the bank. The media office of the Central Bank stated in a statement received (Baghdad today), that “The Central Bank of Iraq confirms that the recent statements regarding (lowering the exchange rate of the Iraqi dinar against the dollar) represent the viewpoint of those who stated it, and do not represent the official position of the Central Bank. 

This was accompanied by a number of rumors launched by speculators, which affected the price (temporarily). 

According to the statement, the bank announced that "the exchange rate is fixed and unchanged, and that its monetary policy is clear and transparent," noting that "its foreign currency reserves are very good, according to all international indicators and in a way that enables it to overcome the current crisis that the country is going through." 

The statement continued, "This bank hopes that the media will exclusively use the sources of the Central Bank in this regard." 

Yesterday, Saturday, the price of the dollar rose against the Iraqi dinar, reaching 100 dollars each, compared to 128 thousand dinars, according to some exchanges.

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Economist: The government and crisis traders besiege the people with "dollars"

 

Posted 55 seconds ago



Baghdad / Al-Zawra:



The economist, Wissam Al-Tamimi, said that the dollar rose significantly in the Iraqi market, due to the fabrication of crises by the government, pointing out that traders took the opportunity to acquire and store goods to put them up at other times when the dollar is rising more.

Al-Tamimi said in a press statement: “The government and the Central Bank in particular have not moved a finger against raising the price of the dollar. Rather, there is a ready excuse that has been used in recent days that (foreign currency reserves have begun to decline in the central bank), which allowed the legitimacy of raising the dollar. Dollar exchange rate. ”

He added that "there is a plan looming on the horizon, agreed upon by most observers of Iraqi economic affairs, confirming the government's endeavor to deliver the dollar exchange rate in the markets to 1150 at the end of this year, with the aim of ending the contrived financial crisis in the country."

He pointed out that "solutions do not exist and the citizen is the first victim, as the prices of commodities and foodstuffs will rise, especially since more than 90% of the Iraqi market depends on imports in light of the stoppage of industry, and the lack of seriousness on the part of the government to revive it."

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Deputy: Parliament will discuss the financing of the fiscal deficit next week

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18th October, 2020



The Parliamentary Finance Committee confirmed, on Sunday, that the House of Representatives will discuss a draft law on financing the fiscal deficit during the next week.

Representative Jamal Cougar, a member of the Parliamentary Finance Committee, said, "The draft law on financing the fiscal deficit is now in the Finance Committee and it is scheduled to be discussed in the committee next week."

He added, "The House of Representatives will conduct the first reading of the bill, and then the Finance Committee will prepare its report on the project, after which the second reading and voting will take place."  

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