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Mr. Sadr tweets on the budget and warns


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11 hours ago, DinarThug said:

The President of the Republic approves the 2021 budget and returns it to the government to implement it, starting tomorrow

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  • 2021-04-07 
 

Shafaq News /

 

An informed political source said, on Wednesday, that the Presidency of the Republic had approved the budget law and returned it to the government to work on it.
 
The source told Shafaq News Agency that the President of the Republic, Barham Salih, approved today the federal budget for 2021, and it was sent to the Ministry of Finance to start working on it, starting tomorrow, Thursday.

The Deputy Speaker of Parliament, Bashir Haddad, announced yesterday, Tuesday, that the parliament will refer the Federal Budget Law for the year 2021 to the Presidency of the Republic for approval.
According to a document signed by the Deputy Secretary-General of Parliament, Sadiq Jumah Hamid, addressed to the Office of the Presidency of the Republic, and obtained by Shafaq News Agency, that “based on Article 73, Clause III of the Constitution, we send to you (the Federal Budget Law of 2021).”

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Allawi chairs the meeting of the Budget Committee

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8th April, 2021

The Minister of Finance, Ali Abdul Amir Allawi, confirmed, on Thursday, that the long-term goals will be easily linked with future budgets to provide tools and procedures for preparing financial departments and determine priorities for activities to achieve the strategic goals of projects in proportion to the financial revenues of the country

The ministry stated in a statement, seen by Al-Iqtisad News, that “Minister Ali Abdul-Amir Allawi chaired yesterday, Wednesday, the fifth session of the committee for preparing the federal budget strategy for the medium term 2022-2024 in the presence of the prime minister's advisors, the advisor of the Minister of Finance and the Undersecretary of the Ministry. Planning and directors general of the ministry and other ministries

The committee discussed, according to the statement, "a brief report that included completed and unfinished investment projects, in addition to projects that are lagging in most provinces. The committee also discussed the contractor dues and methods of scheduling them

The minister said that "the committee's actions and steps will contribute to building a sound and stable financial situation for the country, which will enhance the approach of preparing budgets for the coming years within the available financial resources to address the lag in strategic projects in the governorates

The minister affirmed that "long-term goals will be easily linked with future budgets to provide tools and procedures for preparing financial administrations and to prioritize activities to achieve strategic objectives of projects in proportion to the country's financial revenues

The committee also completed, according to what was stated in the statement, "the meeting's agenda, which included several paragraphs of it with regard to financial and economic matters related to other ministries

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We dinar holders are about to get really popular with family ,friends ,and others .

You have to learn to read between the lines... They aren't going to come right out and tell you that they are going to change your life forever!!!  Seriously Greedy!  You fluctuate moods more than I d

I have a feeling this has all been worked out for quite some time and what We have been seeing is nothing more then Kabuki Theater to throw everyone into a tail spin and Bail.   Remember Al

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The Central Bank participates in the Arab Monetary Fund workshop

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8th April, 2021

Within the framework of cooperation with the Arab Monetary Fund and their strategic partners from international organizations represented by the World Bank, the Global Alliance for Financial Inclusion and the German Agency for International Development within the Fund's initiative to promote financial inclusion in Arab countries FIARI a remote workshop entitled (Building and Implementing the National Financial Inclusion Strategy) was held on 5/4/6/2021 with the participation of members of the Supreme Committee for Financial Inclusion and its sub-committees from the public and private sectors, in addition to a number of banks and payment service providers
 
International and regional experiences in the field of launching financial inclusion strategies and effective methods of implementation, and the Central Bank of Iraq announced during the workshop its intention to launch the vision of the National Strategy for Financial Inclusion in Iraq in cooperation with all actors in the private and public sector at the end of 2021, and it will also lead the preparation of the draft national strategy For financial inclusion after the launch of the vision, with the support of the Arab Monetary Fund, experts in the World Bank, the German Development Agency, and the Global Alliance for Financial Inclusion
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After eighteen years of change, the economy is liberalizing and leaving the war

 

Thursday 08 April 2021
 

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Baghdad: Haider al-Rubaie - the pillar of the emirate 

 

Economists personified, a number of developmental transformations that Iraq was able to achieve after the year 2003, stressing that the elimination of the "war economy" that impeded the livelihood of the Iraqi people and the deterioration of its stability, and the clear shift towards a market economy, openness to foreign investment, and an end to the runaway inflation that It led to the collapse of the value of the dinar, which is the most prominent achievement that Iraq was able to achieve. 
 

In addition to the many economic achievements, which contributed to the high rates of sustainable development, and led to Iraq being an important investment destination for many major international companies, however, economists identified a number of points, which they emphasized that it is still without real treatment, putting it at the forefront Those points are the increase in unemployment rates, the increase in poverty rates, and the demographic pressure that is constantly complicated by the scene.

Remove the effects of wars

The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, believes during his speech to “Al-Sabah” that “the return of Iraq and its economic and financial integration into the global economy, and the removal of the effects of the economic blockade due to previous wars, including the exit of Iraq from Chapter VII of the Charter of the United Nations, all points Transformed Iraq after the year 2003 from a war economy to a Peace economy".
 
Saleh puts, “the Paris Club agreement signed in November 2004 with the international financial community with its governments and financial institutions, at the forefront of important economic events, in which Iraq granted the privilege to write off 80 percent of the pre-1990 debts (which were canceled or became a law subject to cancellation). Which is estimated at 100 billion dollars of the total debt estimated at nearly 128 billion Dollars ».
 
Eliminate inflation
 
Ending the era of hyperinflation, one of the important transformations of the Iraqi economy, says the financial advisor to the prime minister, stressing that «that inflation reached its annual averages of about 50 percent or more before the year 2003, to fall to a rate that did not exceed 6 percent at the end of the first decade of the twenty-first century.
The current twenty, which enhanced the standard of living of individuals through the stability of the purchasing power of the Iraqi dinar ».
 
Saleh pointed out that «the increase in the annual per capita gross domestic product of 750 dollars annually before 2003, to reach ranges close to the average of six thousand dollars, one of the important achievements that contributed to the recovery of the economic situation To the individual. 
He pointed out that salaries, pensions, government retirement and social welfare benefits, which currently include nearly 8 million Iraqi citizens, their amounts increased about 7 times from their rates before the year 2003, and the number of beneficiaries from them increased about five times for each segment who are they.
 
The success of fiscal policy
 
The government advisor confirms, "the success of the financial policy after 2003 in building the joints of stability and economic prosperity, as well as the success of that policy for the first time in the history of Iraq" according to the advisor "in providing a rating for the creditworthiness of Iraq, and since 2015 for the first time in the country's Financial history
As Iraq has a good and stable credit rating, currently at a level of B ”.
 
Central and stability of the dinar
 
 Saleh explains, "The monetary policy of the Central Bank succeeded in imposing stability on the Iraqi dinar with its internal and external value, and granted freedom of external transfer for all legitimate operations that serve the movement of trade and business in exchange for the ability to build foreign currency reserves whose balance increased more than 30 times than it was before."
The case before 2003, and is managed in a major safe investment portfolio For Iraq ”.
 
According to the government advisor, agricultural activity continued to be supported, especially the cereal production sector in which farmers receive price support, to encourage them and enhance national food security, as the cultivated land doubled from 6 million dunums to more than 11 million dunums today thanks to that support, water control and Regular marketing.
 
The reality of the economy
 
Vice President of the Iraqi Federation of Industries, Raed Abdul Sattar, stated that “no one can deny that there is a change in the reality of the Iraqi economy and the international outlook on Iraq, and there are a number of things that have been achieved. 
The families ’economy has witnessed a clear improvement, and this indicates the rates of excessive consumption in many times,” pointing out that “the ambition of the economic circles is greater than what has been achieved, as Iraq could be a new economic tiger on the stage of the global economy, and qualify for this place and deservedly, because of its possession Riches, geographical location, and monuments of interest to most of the world's population most of them". 

Industrial sectors
 
He pointed out that “change has occurred, but what is required is that the pace of work in Iraq is escalating, which will benefit the country and the economies of the region and the world, as there is a global interdependence between a global Iraqi that achieves an integration that is almost not achieved in other countries, pointing to the importance of moving towards correcting the paths that lead to activation The national economy, and help in embarking on the development of the industrial and agricultural sectors, and to address the population pressure, unemployment and other problems ». 
 
Economic transformations
 
A member of the Baghdad Economic Forum, Hadi Al-Zubaidi, said: “The economic arena after 2003 witnessed a massive boom towards establishing economic forums aimed at contributing to drawing a roadmap for economic transformations taking place in the country.
This phenomenon in the country highlights the urgent need to develop the joints of the National South work".
He pointed to “the inevitability of an effective contribution to saving our economy from its challenges, and the most prominent of what is required of these blocs is to move away and not divert privileges to a specific specialty. Rather, work to revitalize the most important projects and the extent of their contribution to achieving quick returns and directing loans towards them, in order to contribute to reducing dependence on import that drains the currency" .
 
Successful negotiations
 
Academic turn Dr. Amr Hisham, focused on “the importance of extinguishing the debts registered against Iraq to various international bodies, and he said:“ As a result of the successful negotiations that Iraq led in extinguishing its foreign debts, it was able to reduce 30 percent of the debts of the Paris Club upon signing the agreement and reduce 30 percent upon signing with the IMF International economic reform and a 20 percent reduction conditional on submitting a report by the International Monetary Fund that supports the establishment of Iraq Obligations. ”
 
Iraq's commitment
He continued, "As for the debts of the Arab Gulf states, although most of them are grants or loans without interest, they demanded them with the exception of the United Arab Emirates, which has extinguished its debts by 100 percent. 
The Ministry of Finance follows up on the procedures for settling commercial debts of the foreign sector, and the adoption of this sensitive file is one of the most important economic achievements that have benefited the country after the political change took place
 For the year 2003 ”.

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6 hours ago, DinarThug said:

So Apparently Bruce Is Wearing The ‘A’ Cups On The Top - And A Total ‘Decaf’ Down Below ! :o 

 

5 hours ago, nannab said:

You are so bad!!!  :lmao:

 

Oh Ya, Sure - Blame The ‘Clown’ And Don’t Even Mention The ‘Pitcher’ Who Lobbed That Clip Out There ! :o 

 


And As If ‘Somehow’ He Expected That Nobody Would Even Notice Or Comment On It ...

 

:D  :D  :D 

 

 

Fyi, He And I May Have Done This ‘Routine’ On This Particular Clip - Maybe Once Or Twice Before ! :rolleyes:

 


Which, Btw - Still Frickin’ Never Gets Old ...

 

:lmao:  :lmao:
 

 

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Foreign Ministry praises the strategic dialogue: We were able to devote a new path

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8th April, 2021

On Thursday, Foreign Minister Fuad Hussein confirmed that Iraq was able, during the third round of the strategic dialogue with America, to devote a new path.

Hussein said in a statement received by "Tigris", that "during the third round of the strategic dialogue between the Republic of Iraq and the United States of America, we were able to devote a new path that reflects the response of the Iraqi negotiator to national interests within the framework of full sovereignty, so that Iraq takes its balanced presence in an extended and multidisciplinary partnership." 


"Thank you, Minister Anthony Blinken, for managing the negotiating delegation on the American side, in a way that strengthens the relations between our two countries," he added.

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20 hours ago, DinarThug said:

The President of the Republic approves the 2021 budget and returns it to the government to implement it, starting tomorrow

1617799281907.jpeg

 
  • 2021-04-07 
 

Shafaq News /

 

An informed political source said, on Wednesday, that the Presidency of the Republic had approved the budget law and returned it to the government to work on it.
 
The source told Shafaq News Agency that the President of the Republic, Barham Salih, approved today the federal budget for 2021, and it was sent to the Ministry of Finance to start working on it, starting tomorrow, Thursday.

The Deputy Speaker of Parliament, Bashir Haddad, announced yesterday, Tuesday, that the parliament will refer the Federal Budget Law for the year 2021 to the Presidency of the Republic for approval.
According to a document signed by the Deputy Secretary-General of Parliament, Sadiq Jumah Hamid, addressed to the Office of the Presidency of the Republic, and obtained by Shafaq News Agency, that “based on Article 73, Clause III of the Constitution, we send to you (the Federal Budget Law of 2021).”

LINK

 

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The President of the Republic approves the budget law and sends an invitation regarding the implementation of its provisions!

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8th April, 2021


President Barham Salih approved, on Thursday, the federal fiscal budget law for the current year.

The President of the Republic said in a statement that Mawazine News received a copy of, that "the approval comes to secure the necessary needs of our people, and to finance the salaries of employees and retirees and the necessary government expenditures, in a way that achieves social justice for all regions of Iraq and all segments of society."

Saleh stressed, "the need to adopt financial and economic reform and support the various economic sectors in a way that contributes to supporting the goals of development and progress."

The approval of the President of the Republic came after the law reached the Presidency of the Republic from the House of Representatives after it was voted on in the House.  

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22 hours ago, DinarThug said:

Al-Kazemi reveals the upcoming files of the US-Iraqi strategic dialogue

Al-Kazemi reveals the upcoming files of the US-Iraqi strategic dialogue
 
 
04/07/2021 17:46:42
 
The Prime Minister and Commander in Chief of the Armed Forces, Mustafa Al-Kazemi, chaired today, Wednesday, a meeting of the Ministerial Council for National Security, in which he discussed developments in the security situation in the country, as well as the topics on its agenda.
 

Al-Kazemi stressed at the beginning of the meeting, "We have basic tasks represented in protecting and fortifying the state, through strengthening and rebuilding constitutional institutions, especially the Iraqi army and the rest of our security apparatus." 

He stated, "Iraq's distinguished regional and international relations support system">support the direction of protecting the state," stressing that "last week witnessed a qualitative Iraqi contact with its surroundings and the world, whether through official visits to the Kingdom of Saudi Arabia and the United Arab Emirates, or the continuous international delegations to Iraq to strengthen cooperation and support system">support." 

The Commander-in-Chief of the Armed Forces stressed that "the great development in the capabilities of our security forces, and the change in the form of the terrorist threat on the ground, have paved the way for the departure of nearly 60% of the coalition forces during the past months of the life of this government." 

While he stressed, "This matter enabled Iraq to move soon to the stage of the absence of the need for foreign combat units, and to limit themselves to training, advisory, logistical support system">support and intelligence cooperation roles, until Iraq reaches the stage of self-sufficiency with the efforts of its sons and their cooperation and solidarity."

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Al-Kazemi reveals the axes of the new round of strategic dialogue between Baghdad and Washington  LINK

 

 

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Barzani welcomes the new round of the Iraqi-American strategic dialogue: an important step and positive progress

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8th April, 2021


The President of Kurdistan Region, Nechirvan Barzani welcomed today, Thursday, the third round of the strategic dialogue between Iraq and America, returning it an important step and positive progress for the future of relations and common interests in all fields.

Barzani wrote on his page on the social networking site "Twitter" and followed by Shafaq News, that the third round of the Iraqi-American strategic dialogue is an important step and a positive progress for the future of relations and common interests in all fields.

Barzani welcomed and supported this dialogue, wishing him success and fruitful results in all aspects. 
 

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Legal: The amendment to the budget is from the gate of the Federal Court

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19:46 - 04/07/2021
 

The legal expert, Yahya Al-Bahadli, considered, on Wednesday, that the opinions issued on the amendment of the exchange rate of the dollar after the parliament voted on it in the budget is like a "miracle" and will not be achieved except through the Federal Court.

Al-Mansour said, in a statement to / information /, that “one of the conditions for amending any paragraph in the budget must be through the Federal Court exclusively, and no other party can decide the amendment if the Federal Court does not give permission to do so.”

He noted that "the Federal Court at the present time does not have the powers to consider or issue sovereign decisions due to the incomplete ranks of its judges, and therefore the issue of adjusting the budget will not be as easy as some imagine because, after the approval of the Presidency of the Republic, it will be enforceable in the Ministry of Finance."

He pointed out that, "In addition to the impediment of the Federal Court, this procedure will not take place until after the Presidency of the Republic ratifies it within a period not exceeding 15 days, and therefore any statement in this regard after an early election announcement for the parties."

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Al-Kazemi marks an "achievement" and affirms: Our people deserve to live in peace, not conflicts and adventures

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8th April, 2021


The Iraqi Prime Minister, Mustafa Al-Kazemi, on Thursday, considered the strategic dialogue that took place with Washington, an achievement and a gateway to restore the normal situation in Iraq.

On Wednesday, Iraq held the third round of strategic dialogue with the United States, with the participation of the foreign ministers of the two countries, as well as representatives of the economic, energy and cultural sectors.

Al-Kazemi said in a tweet on “Twitter” that “the results of the third round of strategic dialogue are a gateway to restore the normal situation in Iraq, and what Iraq deserves, and it is an achievement that we congratulate our peace-loving people. 
 

He added, "Dialogue is the right way to solve crises. Our people deserve to live in peace, security and prosperity, not conflicts, wars, fugitive weapons and adventures."

In its third round, the dialogue dealt with the files of politics, security, economy, energy, education, culture, environment, human rights, and heritage, and stressed the need to provide the necessary protection for the demonstrators. The first round was held last June, while the second round took place in August 2020. The previous two rounds included taking steps on the path to reducing US forces, in light of continuous pressure from political parties that are categorically opposed to the foreign presence.

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31 minutes ago, DinarThug said:

Al-Kazemi reveals the upcoming files of the US-Iraqi strategic dialogue

 

I have a pic of the great reveal but I’m out of memory to post the historic pic.  If any of you Mods can assist me by emptying my memory I would love to share it with Thugs.  😂 

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Investment funds with Gulf countries


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8th April, 2021  by Samir Al-Nasiri

 

The initiative of Mr. Al-Kazemi's government to reconnect with the Gulf states, which began with an important and serious visit by Mr. Rless of the Council of Ministers to Saudi Arabia and the UAE, and to declare the intention to visit all Arab countries after an interruption and suspension of the coordination meetings of the Iraqi-Saudi Coordinating Council after the recent visit of the large Saudi delegation, which included ministers and a large number of up to Government officials and the private sector to Baghdad

It is an important initiative to return Iraq to its Arab depth and fortune and openness to building balanced political, economic and security relations with brotherly and friendly countries, in particular with the countries of the geographical region, in which the Arab depth of Iraq is the basis and essence

And that it is a sure evidence of the new foreign relations strategy that Iraq has adopted since 2017, and the first of these relations was the emergence of the Coordination Council with the Saudi side and its first meeting in November 2017 in Saudi Arabia and the signing of memoranda of understanding for the previous government during the visit of the former and former Prime Minister, but the relations did not continue according to The goals and principles agreed upon by the two parties for political, subjective and objective reasons

To strengthen the Iraqi-Gulf relations in all political, security and economic fields, in particular cooperation in the field of investment, and to establish a joint investment fund between Iraq and Saudi Arabia on the one hand, and between Iraq and the UAE on the other hand, by allocating three billion dollars to each fund with the aim of stimulating investment for strategic projects, particularly those related to electricity, energy and reconstruction

It is expected that similar investment funds will be established in the next phase in conjunction with other Gulf countries, and that activating and promoting the initiation of these projects must be consistent with joint cooperation and communication and strengthening banking relations between Iraq and the Gulf countries, especially in foreign banking transactions, and stimulating and encouraging investment companies to invest in Iraq. Promote financing and investment fields

Noting that the Iraqi economy is currently going through a critical and complex phase and a stifling financial crisis due to the decrease in its revenues from oil, the main source of the public budget, and this coincided with the outbreak of Corona pandemic and its effects on the economies of most countries of the world, including what the Iraqi economy is currently suffering. 

One of the government's priorities is to overcome the economic crisis and eliminate the epidemic, in addition to the electoral, political and security tasks. 

Therefore, it requires the government, especially after the wide international, regional, Gulf, and Arab openness to Iraq and the beginning of building new relationships, and in order for the agreements that resulted from the last visit of Mr. Al-Kazemi in the field of investment to be implemented, the House of Representatives is required to discuss and approve the Construction Council law

What concerns us here is the future of international economic, financial and banking relations in general and with the Arab Gulf states in particular and some Arab countries with an influential economic depth and extending bridges of relationship with them in a way that serves the opening of new horizons for communication and exchange of benefits, encouraging Arab investment in Iraq, developing banking infrastructure and technology, increasing inter-banking transactions and creating New ways of cooperating with sober correspondent banks in those countries

 In conclusion, we call for drawing up a roadmap for communication and joint coordination for the purpose of actually initiating the development of what has been reached from the general guidelines for building and restoring economic, financial and banking relations that were cut off several decades ago. 
Emphasis on the agreement to develop and open broad horizons for cooperation in the economic and banking fields, correct previous tracks and overcome all obstacles that hinder the building of sound and solid relations

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27 minutes ago, Pitcher said:

 

I have a pic of the great reveal but I’m out of memory to post the historic pic.  If any of you Mods can assist me by emptying my memory I would love to share it with Thugs.  😂 


Perhaps an emptying of the bladder would suffice. Horse feels & thinks better afterwards :tiphat:

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1 hour ago, DinarThug said:

The Iraqi Prime Minister, Mustafa Al-Kazemi, on Thursday, considered the strategic dialogue that took place with Washington, an achievement and a gateway to restore the normal situation in Iraq.

 

17 minutes ago, GreedyDinar07 said:

I didn't know Al-Khedemi was in Washington... Where is the fanfare video? I like those videos!!! They are so encouraging!! I didn't see anything on the news...was it virtual?

 

He Wasn’t - It’s Only Referring To The Ongoing Discussions On The Strategic Dialogue Between The US (Washington) And Iraq ! ;) 
 

 

Butt If Pitcher Wasn’t Out Of ‘Memory Storage Space’ - He’d Probably Come Up With Some Other ‘Fanfare Video’ For U! :o 

 

:D  :D  :D 

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14 minutes ago, Half Crazy Runner said:

Ooo la la! 


Yo Snap - She Spoke French ! :o 

 

 

Better Watch Out For ‘Le Weegie’ ...

 

Morticia Gomez GIF - Morticia Gomez Addams GIFs
 

:D  :D  :D 

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On the expectations of the decline of the Iraqi economy .. Al-Kazemi advisor talks about solutions

1617879328893.jpg             Mazhar Saleh: Iraq is on the brink of economic recovery | Search 4 Dinar

 

8th April 2021


The financial and economic advisor to the Prime Minister, Mazhar Muhammad Saleh revealed, on Thursday, the reasons for the expected decline of the Iraqi economy by the World Bank and the International Monetary Fund, while noting that the best solution is the advancement of the agricultural sector.

Saleh said in an interview with Shafaq News, "The International Monetary Fund and the World Bank expect the Iraqi economy to decline in the coming years because they assume that the situation continues in Iraq, as there is an expansion in spending and a decline in non-oil revenues, and that dependence on oil is increasing," indicating that "the latter" It is considered a dangerous matter, especially as the cycle of oil assets fluctuates between ups and downs.

Consequently, debts are increasing and crises are increasing, which is a major problem.

He added, "The population of Iraq is increasing annually and multiplying, therefore, without effective and strong economic reform, its meaning remains dependence on oil and dependence dangerous, especially since oil for the next ten years may be effective in the life of countries' economies, but as a priority it appears to diminish and thus reliability is difficult."

Saleh pointed out that "Iraq has a way to solve these problems, which is to reform the economic situation in a continuous and balanced manner," noting that "reforming the economic situation must be taken into consideration unemployment in Iraq, whose solution is one of the most important priorities, given that the citizen needs work to live, not necessarily."

That it should be through government employment, but through activities that guarantee people, even if it is in the private sector, and this requires enormous legislative power. "

He added, "There are other solutions, which are to properly launch development through a partnership between the state and the private sector in principle, in order to achieve sustainable development that guarantees the right of future generations, not to transfer the current burdens on the next generation, but rather to transfer to them prosperity, prosperity, infrastructure and work prospects, not the opposite and this goal Required".

Saleh stressed that "the best solution is the advancement of the agricultural sector. This does not mean neglecting industry and other activities, but agriculture is the strategic alternative to oil, especially that Iraq has enormous potentials to invest its lands, as there are 23 million dunams of agricultural land, of which we use 11 dunums per season." 
 

He added that "this requires a great strategy in the field of water and a great strategy in the field of agricultural land management," explaining that agriculture will rid you of dependence on oil as the only resource for the public budget, provide food security, provide job opportunities, and turn Iraq into an advanced agricultural country.

Saleh explained that "the developed countries at the present time have not abandoned agriculture despite the strength of the United States industrially, because the greatness of their economy also lies in agriculture, and the same is the case for New Zealand and Canada, where the latter is still considered an agricultural country, especially in the cultivation of grains despite its progress in other activities."

Salih stressed the importance of following methods that would "revive the real sector in Iraq, create job opportunities, and get rid of the chaos of dependence on importing foodstuffs from abroad by working and genuinely investing the land in a so-called" green revolution "similar to what the State of Mexico and other countries have followed in the field Reviving lands and developing agriculture. "

It is noteworthy that the International Monetary Fund had predicted last February that Iraq's hard currency reserves would decrease to 40.8 billion dollars in 2022 and 33.2 billion in 2023, and an increase in government debt compared to the GDP by 89.8% in 2022.

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Al-Saffar: Budgets after 2003 amounted to 1500 billion, which are sufficient to build two states the size of Iraq in the desert


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8th April, 2021

The reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, stated that the country's budgets since 2003 and so far have reached 1500 billion, which are sufficient to build two states the size of Iraq in an uninhabitable desert, criticizing the size of corruption in the country and stressing that it needs a bold treatment, will, decision-making and punishment. 
 

Al-Saffar said in a televised interview that "the Iraqi citizen has come to know the extent of corruption, since 2003 until now there have been 1500 billion in budgets, and thus two countries the size of Iraq can be built in an uninhabitable desert," noting that "Iraq is always at the bottom of the corruption classification list in the world." 

Al-Saffar believed that “Iraq's biggest problem is corruption, and every attempt to rebuild the infrastructure and economic sectors collide with corruption,” stressing that “corruption can only be eliminated through a strong government, especially since corruption has become a system that needs to be addressed and boldly will, and to make a decision and punish The corrupt, ”adding that“ if the corrupt are the bosses and have power and influence within government institutions, the process is not without difficulty and needs a period of time to eliminate it.” 

Corruption, which has cost Iraq twice as much as its gross domestic product, i.e. more than $ 450 billion, is the most prominent concern of Iraqis who suffer from a lack of services, the provision of drinking water, electricity, hospitals and schools.

Regarding criticism of the increase in the exchange rate of the US dollar against the Iraqi dinar, Al-Saffar stated that “the validity of monetary policy in general is exclusive to the Central Bank, and the policy of determining the exchange rate with the determination of the interest rate, the monetary mass and the legal reserve are all tools that fall within the monetary policy of the country, and it is not permissible In any case, interfering with the independent work of the Central Bank. 

 

He continued, "In some countries, there is coordination between fiscal policy and monetary policy through coordination and interaction between the Ministry of Finance and the Central Bank to achieve specific goals represented in development and economic stability to support sectors and others."

The decision of the Finance Committee stated that “the policy of devaluation of the national currency is sound, which is to encourage development and various economic sectors and achieve some kind of economic progress, but it needs two necessary things.

 

The first is the need for the state to have a strong and effective production apparatus that responds to any change that occurs in the overall demand for consumption. And the second relates to the investment environment, because the process of devaluation has a number of effects, including the rise in the price of the foreign currency, and consequently the increase in the price of imported goods, and here the total demand is heading towards local products,” according to Al-Saffar. 

 

The decision of the Parliamentary Finance Committee added that “if the productive apparatus is strong, it responds to the increase in consumer demand as a result of the change in the currency exchange rate, and it results in activating, encouraging and revitalizing internal economic activity, but if the opposite is what happened in Iraq, which is that the country does not have a strong production apparatus. And depends for most of its needs on the external market and the inability of local production to meet the high demand, will lead to inflation, and this is what happened with high prices in a crazy way.
 
Al-Saffar explained that "the change in the exchange rate was only 23%, but what happened in the market is a rise in some commodities by 300%, such as medicines, spare tools and others, and there are some commodities that rose by about 100% and others by about 40% or 50%," adding that "the bank The Central Council consulted all parties with a decision to reduce the value of the Iraqi dinar against the dollar, but in Iraq there is clear interference by political blocs and influential parties in the work of the government and institutions in general, and even Parliament is a reflection of the orientations and visions of these political blocs. 

And he continued: “A meeting took place with the Parliamentary Finance Committee, but it happened after the meeting of Prime Minister Mustafa Al-Kazemi with the heads of political blocs, and he explained to them the existing financial situation and that the state is unable to pay salaries and wages and that the current price does not achieve sufficient revenues for the operational budget only, and for this reason there is no A solution is to either deduct salaries at rates of about 50% or change the exchange rate of the dinar against the dollar, and this is an indirect deduction.
 
On December 20, Iraq decided to reduce the value of the dinar against the dollar to 1450 instead of 1184, to contain the financial crisis, but the decision caused stagnation in economic movement and an increase in commodity prices in the local markets. 

He pointed out that “there is agreement from the political blocs about raising the currency exchange rate, and the Finance Committee was notified, but the latter did not agree unanimously, and I was one of those who objected to this large degree of devaluation of the dinar, and I was with the change but with the adoption of a creeping or gradual rate, For example, the change is made this year to 1,300 dinars, and next year another change is made, and so on. According to my opinion, the price change from 1190 dinars per dollar to 1450 is big, because the Iraqi market does not bear this rise and big change.
 
On passing the budget, he noted that “the Parliamentary Finance Committee has made a great effort in this budget, because it is one of the most difficult budgets in the history of Iraq. 

It comes in difficult circumstances represented by financial, health, political and security crises, and more than this there are early elections, so everyone without exception used The draft budget for electoral campaigning, and for this they agreed to change the exchange rate, but they went back and declared that they are against this decision even though they know that this issue is within the jurisdiction of the Central Bank. The House of Representatives voted on Wednesday (March 31, 2021), on the Federal Budget Law for the Republic of Iraq for the year 2021 as a whole, after months of heated debate over the law between political parties. 

Al-Saffar added, "The Finance Committee received the draft budget on December 28, 2020, which is a late date, because according to the law, the project must be with the Finance Committee before October 15, so that enough time is allowed for it and the budget is approved before January 1," adding: "The first reading of the draft budget was on January 9, and the presence of the Finance Committee in Parliament hinders its work due to reviews and the attendance of MPs for discussions, and thus a waste of time."

Al-Saffar went on to say, “The Finance Committee held about 47 morning and evening meetings during which we hosted more than 350 spending unit officials, and we changed the project from a project as a rigid financial paper that is merely items for distribution at the gates of spending, to a project with an economic and social vision that could serve the economic sectors and move The wheel of the country's economy, in order to be able to get out of this rentier state, which if it continues like this, then that means that the economy of Iraq is moving towards the unknown. 

He noted that “the operating budget was more than 90% and we reduced it to 80%, and we also reduced public spending from 164 trillion dinars to 129 trillion dinars, while the deficit was 71 trillion dinars and we reduced it to 28 trillion dinars, and revenues were 93 trillion dinars and we raised it to 101. One trillion dinars.”

Regarding the impact of raising the exchange rate on the Iraqi citizen, Al-Saffar stated that “the government was supposed to take measures preceding the change of the exchange rate, and it should have expected a rise in the prices of imported goods, and thus the demand for the local product that must satisfy the local need,” adding: “We have put in place an article.“  

The government is obligated to take a package of measures that alleviate inflation and the negative impact of raising the exchange rate, including raising the sums of families benefiting from the salaries of social workers, and we have directed the Ministry of Trade to provide the ration card items, whose quantities can double in the month of Ramadan.”

As for the citizens' dissatisfaction with the delay in the distribution of the ration card items and the poor quality of them, Al-Saffar said: “I am not with the distribution of the ration card as materials, because of corruption, the lack of delivery of the ration card items at the specified time, the incomplete number of items, and the poor quality, some of which are not suitable for human consumption.”

He explained: "I am in favor of paying a cash sum with the card to the beneficiaries and those who are at the level of poverty, because he will be free to choose and know his need for the materials and he chooses the quality and quantity he needs."


Al-Saffar saw that this proposal “contributes to revitalizing the market and economic movement, especially since there are about 8 million Iraqis below the poverty line.”

Usually the ration card is a “veiled insult to the Iraqi individual, and more than 60% of the ministry’s effort goes to the ration card.” And on the adoption of the price of selling a barrel of oil in the federal budget for 2021, Al-Saffar indicated that "the budget that was sent from the government was based on a price of 42 dollars a barrel, at a time when the price of a barrel was 52 dollars, and the correct way is to adopt a conservative price, but not with that big difference." Adding: "I was with the adoption of 50 dollars a barrel, especially since the price of a barrel of oil now is about 63 dollars, and this indicates a big difference." 

The reporter of the Parliamentary Finance Committee explained that “every additional dollar in the price of a barrel brings about a trillion and a half trillion Iraqi dinars to the budget, and if the price of a barrel of oil reaches about $ 65-70, then the deficit will be fully covered, and the budget will be balanced, and the remainder of the funds can be used. As a revolving balance for the repayment of internal or external loans.

Regarding his vision of the government’s work, he said, “Prime Minister Mustafa Al-Kazemi has put together an excellent program in theory, despite it being a transitional government, even if it has a regular course to set a program according to the usual time period.”

As for the share of the Kurdistan region and the agreement that was made in the budget regarding it, Al-Saffar added that “the President of the Kurdistan Regional Government, Masrour Barzani, and through his follow-up and his presence on the line constantly with the Kurdish negotiating delegation and the Finance Committee during the past months, he was in constant presence with what is being done in Baghdad.

Therefore, he builds his expectations on objective matters through what is present in the Iraqi arena of orientations against achieving stability or development in the economy so that it is not counted against the current government.

He stated that "there are those who go to a central mentality and do not understand the federal federation and the existing decentralization, and for this reason, the article related to the Kurdistan Region in the budget witnessed a very difficult birth, and as a result of marathon visits to the Kurdistan Region delegation and we stayed in Baghdad for more than 3 months, until we were able to come out with this." Article is the result of political consensus.” 

And he added that "the President of the Kurdistan Regional Government, Masrour Barzani, is afraid of the coup of some blocs and their lack of cooperation or preventing the government from implementing its program, because there are those who do not settle for an opinion." The Kurdistan region’s share of the budget increased from 12.67% to 13.9%, after many negotiating rounds and repeated visits to the delegation headed by the Kurdistan Regional Government’s Vice President, Qubad Talabani.

The value of the budget amounted to 89.7 billion dollars, about 30% lower than the last budget approved in 2019, at a time when Iraq, the second largest oil producer in OPEC, is going through its worst economic crisis. The total value of revenues in the 2021 budget, approved by Parliament on Wednesday night, amounted to about $ 69.9 billion, calculated based on the export of crude oil at the price of $ 45 a barrel, and the rate of export of three million and 250 thousand barrels per day. 
 

The value of the deficit in the current budget amounted to 19.8 billion dollars, compared to 23.1 billion in 2019, noting that Iraq did not approve the 2020 budget due to political tension. It is noteworthy that the value of the deficit in the budget bill proposed by the government to Parliament amounted to $ 49 billion, but the deputies filled the difference by canceling debts and dues owed by the state in exchange for energy sources from the account, especially Iranian gas and energy dues, and other payments for infrastructure. 

The value of investments in the budget for 2021 amounted to 19.6 billion dollars, compared to 27.8 billion in 2019. As stated in the budget, 80% of the revenues come from oil, and includes 250 thousand barrels produced by the Kurdistan Region, a condition imposed by the government to pay the salaries of employees.
 
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Parliamentary Finance: The budgets since 2003 are sufficient to build two states the size of Iraq in the desert   LINK

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On 4/4/2021 at 2:15 PM, DinarThug said:

The Sistani authority determines the first day of the month of Ramadan and publishes texts for all governorates

image.jpeg.dda68d211b27183a59dfc21d756840d4.jpeg

 

4th April, 2021


The Office of the Supreme Religious Authority, 

Grand Ayatollah Ali al-Sistani,

expects that Wednesday, April 14,

will be the first day of the blessed month of Ramadan.

 

And the Office of the Supreme Reference published Imsakah for the holy month

To view the catch, click here

download file


Hmmm ... - And Launching Just Before The End Of Ramadan ! :o 

 

:D  :D  :D 

 

LINK

Trade Bank of Iraq
May be an image of text

 

7th April, 2021


For the launch of the electronic banking app, please visit our branches after (2021/04/15) for the purpose of updating your bank account data to enjoy these services when they are launched in early May 2021. 

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18 minutes ago, GreedyDinar07 said:

Oh boy, here comes all of the Rv comments! They are going to get us all excited again! 


Too right.... I like the hot tingling sensation running up my leg as I’m teased with a good time: all the while waiting in anticipation of the Main Event 18 years in the fracking making.  

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