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Experts: 5 years for Iraq's economic prosperity


yota691
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 Baghdad: morning
 
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, called for organizing the labor market and transforming it into a digital market, stressing that improving the private sector will reduce pressure on the government sector in the issue of appointments and reduce unemployment among young people. Saleh told Al-Sabah: "If the private sector works hard, the entire surplus will be absorbed by the government sector, especially if there are guarantees of good retirement and high salaries that are better than the government sector," noting that "opportunities in the private sector if they become large. People will move to it from the year." He added that "improving this requires a social system for retirement and social protections that protects the employee in the private sector," noting that "the current labor law is classic and old and needs updating and does not rise to the required level."
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 2021-10-31 06:08
 

 

Shafaq News/ Mazhar Muhammad Salih, the financial and economic advisor to Prime Minister Mustafa Al-Kazemi, commented on Sunday, on the possibility of changing the exchange rate of the dollar against the Iraqi dinar, after the rise in oil prices.

 

Saleh told Shafaq News Agency, "Adjusting the dinar exchange rate in light of the improvement in oil revenues requires several requirements that the government must take. This requires foreign currency coverage of local liquidity, and the superiority of foreign reserves over cash reserves should not threaten the wealth of foreign reserves." for Iraq."

 

He added that "foreign reserves should cover at least a number of import months, including at least 6 months, especially in the case of Iraq, which depends heavily on openness to foreign markets. If these factors are available, the issue of changing the exchange rate of the dollar against the Iraqi dinar can be studied."

 

It is noteworthy that the Iraqi government reduced the value of the Iraqi dinar against the US dollar in the Federal Budget Law for the year 2021, as the exchange rate of the dollar reached 1450 dinars to the dollar, after its price was 1200 dinars to the dollar.

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6 minutes ago, rvmydinar said:

Study again? It has already been almost 18 years, how long do you need to study again? Whose idea is this about " studying " again? Malaki? Or Al-kazemi? Or the new PM?

More talk talk talk BS and never implement it. It looked like they didn't have intention to change the exchange rate..

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6 hours ago, rvmydinar said:

Study again? It has already been almost 18 years, how long do you need to study again? Whose idea is this about " studying " again? Malaki? Or Al-kazemi? Or the new PM?


If some had it their way they’d take another decade to “ study “ the exchange rate.

... just one more way to keep everyone off balance. 


They’ll be anarchy before too long if they keep sand bagging the Exchange Rate.


They’re pushing their luck now and they’re fast running out of that.

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7 hours ago, rvmydinar said:

Study again? It has already been almost 18 years, how long do you need to study again? Whose idea is this about " studying " again? Malaki? Or Al-kazemi? Or the new PM?

The article is from Mazhar Muhammad Salih the financial and economic advisor to PM Kazemi. I would assume it was his idea… 

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13 hours ago, horsesoldier said:


If some had it their way they’d take another decade to “ study “ the exchange rate.

... just one more way to keep everyone off balance. 


They’ll be anarchy before too long if they keep sand bagging the Exchange Rate.


They’re pushing their luck now and they’re fast running out of that.

May be this is their excuse to Delay changing the exchange rate by saying " study " again and This isn't the first time either. I don't know how much longer they need to " study " again? 10 years? Or 50 years? Or 100 years? we hope we can still enjoy our new found wealth some day.

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13 hours ago, DoD said:

The article is from Mazhar Muhammad Salih the financial and economic advisor to PM Kazemi. I would assume it was his idea… 

May be Kazemi has his own reason about " study " the exchange rate. Hopefully, this isn't Kazemi's excuse to delay changing the exchange rate. By the way, we still don't know who will be the new PM after recount because there was election fraud and the iraqi citizens demand recount.

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On 19/10/2021 at 18.35, yota691 said:
%D8%A7%D9%84%D8%AF%D9%88%D9%84%D8%A7%D8%

Penasihat Keuangan Perdana Menteri, Mazhar Muhammad Salih, hari ini, Senin, mengkonfirmasi bahwa Surplus Keuangan dari Kenaikan Harga Minyak Akan Mencakup Tiga Sumbu Penting, Termasuk Mengisi Defisit Yang Diharapkan Dalam Anggaran Tahun Berjalan.


Saleh Berkata, "Surplus Keuangan Yang Dicapai Dari Kenaikan Harga Minyak Dan Mencapainya $75 Per Barel Akan Mencakup Setidaknya Tiga Sumbu," Mencatat Bahwa "Sumbu Pertama Menutupi Defisit yang Direncanakan Dalam Anggaran Umum Untuk Tahun 2021, Yang Jumlahnya Sampai 29 Triliun Dinar, Sedangkan Sumbu Kedua Terkait Untuk Menutupi Kesenjangan Defisit Tambahan Nyata Kurang Dari 10 Triliun Dinar, Yang Disebabkan Oleh Kegagalan Mengestimasi Pendapatan Non Migas Yang Hanya Mencapai 40% Dari Estimasi Atau Rencananya Dalam Anggaran, Yang Sayangnya Menimbulkan Tekanan Pada Pengeluaran Tahunan Yang Direncanakan Dan Langit-Langitnya, Yang Disebabkan Oleh Kegagalan Lembaga Penagihan Keuangan Di Dalam Negeri.


Ditambahkannya, "Sumbu Ketiga Menuju Mendukung Proyek-Proyek Yang Goyah Yang Operasinya Dimaksudkan Untuk Dilanjutkan, Dan Untuk Itu Banyak Kontraktor Bisnis Menuntut Perubahan Biaya Pelaksanaan (Suku Cadang) Karena Perubahan Nilai Tukar Sebelum Kontrak Awal Atau Perubahan Lain Dalam Biaya Pengoperasian Proyek Yang Sedang Berjalan”, Mencatat Bahwa “Pengaturan Dengan Surplus Keuangan, Tidak Mudah Karena Banyak Pembatasan Dan Kewajiban Dalam Anggaran Umum Itu Sendiri, Termasuk Menunda Pembayaran Banyak Biaya Yang Harus Dibayar Dan Tidak Dibelanjakan Di Tahun-Tahun Sebelumnya.”


Dia menunjukkan bahwa "Ada lusinan undang-undang yang membawa beban keuangan bahwa keuangan publik tidak dapat menerapkan kenaikan yang dihasilkan, bahkan menurut hipotesis untuk mencapai harga rata-rata tahunan satu barel minyak sebesar $75 dibandingkan dengan harga tetap di tahun. Anggaran Umum Federal Untuk Tahun 2021 sebesar $45 A Barrel." .
Mengenai Kemungkinan Menyesuaikan Nilai Tukar Dolar Terhadap Dinar Irak, Saleh Berkata, “Menyesuaikan Nilai Tukar Adalah Salah Satu Tindakan Kebijakan Moneter Dalam Mencapai Stabilitas, Menargetkan Inflasi Dan Membatasi Ketinggiannya Di Bawah Bank Sentral Yang Efektif Law”, Memperhatikan Bahwa “Ini Adalah Hal Yang Mempertimbangkan Pertimbangan Neraca Moneter, Dua Batasan, Yang Pertama Cakupan Dalam Mata Uang Asing Dari Likuiditas Lokal Yang Meningkat Secara Signifikan, Karena Pembiayaan Defisit Pengeluaran Pemerintah, Yang Menyebabkan Perluasan Basis Moneter, Atau Yang Kadang Disebut Dalam Literatur Cadangan Kas (Domestik) , Dan Jika Cadangan Devisa Lebih Besar Dari Cadangan Kas (Domestik) Dengan Cara Yang Tidak Mengancam Kekayaan Cadangan Devisa Negara Atau Penipisannya Dan Mempertahankan Stabilitas, Akumulasi Dan Stabilitas Umum Dalam Harga.
Dia Menegaskan Bahwa "Batasan Kedua Adalah Bahwa Pengaruh Penyesuaian Nilai Tukar Harus Sepenuhnya Konsisten Dengan Tujuan Kebijakan Fiskal Negara Dan Tingkat Stabilitasnya, Artinya Tidak Mengancam Keberlanjutan Anggaran Atau Menyebabkan Tiba-tiba Tersandung Dalam Penerimaan Negara Karena Perubahan Nilai Moneter Dan Masuknya Ke dalam Kegagalan (Compensatory Value Defisit) Dalam Anggaran Umum, Yaitu Itu Sendiri, Karena Fluktuasi Kebijakan Moneter,” Dijelaskannya, “Ini Membutuhkan Koordinasi Yang Selalu Tinggi Dan Akurat Dalam Operasi Kebijakan Ekonomi Tertinggi Negara.”

 

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  • 4 weeks later...
Al-Kazemi's advisor draws a road map for the sustainability of Iraqi economic growth
 

Baghdad - people  

Today, Tuesday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, identified a set of measures that included the sustainability of Iraqi economic growth, while stressing the need to launch a package of measures that encourage civil activity to invest and produce.  

  

  

Saleh said in a statement to the official agency, followed by "Nass" (November 23, 2021), that "what matters today is the accelerated growth in the energy sector, whose contribution to the gross domestic product constitutes approximately 45% of it, and its direct and indirect effects extend to the activity of the national economy." And the business cycle in Iraq has increased by more than 80% due to the positive effects resulting from the rise in oil prices and the increase in the quantities produced and exported of crude oil under OPEC.”  

  

He added that "the launch of real investments in support, formation and building of productive capital wealth will remain in the forefront to maintain the sustainability of the achieved positive economic growth, which was initiated by the construction sector under the influence and urging of the initiative of the Central Bank of Iraq to provide nearly 2 trillion dinars that went to finance the housing activity, which is the activity He is really responsible for employing about 20% of the Iraqi labor force, in addition to the growing determination shown by the Iraqi agricultural activity in supporting the basic food security of Iraq despite the water scarcity, and all of this contributed to making the growth rate in the gross domestic product exceed the growth rate of the population, which is A positive indicator in the tendency towards the welfare of society.  

  

He stressed that "preserving the strength of positive tendencies in the investment spending policy or the so-called (investment accelerators) should take the priorities of the government's economic approach by sustaining the momentum of procedures and policies that stimulate investment, especially at the level of care in implementing government projects related to infrastructure and previously suspended, As well as supporting the financing activity of the private sector in conducting its investment activities and launching its initiatives without bureaucratic stumbles here and there.  

  

Saleh considered it "an appropriate opportunity to re-examine the policies and procedures related to encouraging national investment, especially private investment, in one package that helps lift administrative restrictions that are useless to the aforementioned activity and facilitate the business environment with effective government decisions that end in expanding the base of tax flexibility, as happened in the recent cabinet decision and others, and mitigating of all administrative restrictions, as well as adopting the best administrative and executive steps that must be followed in transforming the economic surpluses in the national economy (represented in the strength of the economy’s liquidity) into dynamics that lead to real investment as important financial levers available for use in spending on development and the operation of production factors that lead to sustainability national income growth.  

  

He stressed, "the necessity of launching a package of measures that encourages civil activity in investment and production immediately, with the strong support of the government's economic policy in everything related to improving the business environment and supporting the sustainability of growth in the national product and with flexible, effective and discreet procedural policies taken by the responsible government sectoral agencies."  

 
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 money and business


Economy News _ Baghdad

Today, Tuesday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, identified a set of measures that included the sustainability of Iraqi economic growth, while stressing the need to launch a package of measures that encourage civil activity to invest and produce.
Saleh said in an interview with the Iraqi News Agency, and followed by "Al-Iqtisad News", that "what matters today is the accelerated growth in the energy sector, whose contribution to the gross domestic product constitutes approximately 45% of it, and its direct and indirect effects extend to the activity of the national economy and the business cycle in Iraq by a rate of More than 80% due to the positive effects resulting from the rise in oil prices and the increase in the quantities produced and exported of crude oil under OPEC.
He added that "the launch of real investments in support, formation and building of productive capital wealth will remain in the forefront to maintain the sustainability of the achieved positive economic growth, which was initiated by the construction sector under the influence and urging of the initiative of the Central Bank of Iraq to provide nearly 2 trillion dinars that went to finance the housing activity, which is the activity He is really responsible for employing about 20% of the Iraqi labor force, in addition to the growing insistence shown by the Iraqi agricultural activity in supporting the basic food security of Iraq despite the water scarcity, and all this contributed to making the growth rate in the gross domestic product exceed the growth rate of the population, which is A positive indicator in the tendency towards the welfare of society.
He stressed that "preserving the strength of positive tendencies in the investment spending policy or the so-called (investment accelerators) should take the priorities of the government's economic approach by sustaining the momentum of procedures and policies that stimulate investment, especially at the level of care in implementing government projects related to infrastructure and previously suspended, As well as supporting the financing activity of the private sector in conducting its investment activities and launching its initiatives without bureaucratic stumbles here and there.
Saleh considered it "an appropriate opportunity to re-examine the policies and procedures related to encouraging national investment, especially private investment, in one package that helps lift administrative restrictions that are useless to the aforementioned activity and facilitate the business environment with effective government decisions that end in expanding the base of tax flexibility, as happened in the recent cabinet decision and others, and mitigating of all administrative restrictions, as well as adopting the best administrative and executive steps that must be followed in transforming the economic surpluses in the national economy (represented in the strength of the economy’s liquidity) into dynamics that lead to real investment as important financial levers available for use in spending on development and the operation of production factors that lead to sustainability national income growth.
He stressed, "the necessity of launching a package of measures that encourages civil activity in investment and production immediately, with the strong support of the government's economic policy in everything related to improving the business environment and supporting the sustainability of growth in the national product and with flexible, effective and discreet procedural policies taken by the responsible government sectoral agencies."

 
 
Views 124   Date Added 11/23/2021
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 Baghdad: Shaima Rashid
 
The economic advisor to the Prime Minister, Mazhar Muhammad Salih, stressed that there are development plans for the next ten years that have not yet been implemented, and that they need concerted efforts from everyone and an end to conflicts and rivalries. Saleh said in an interview with “Al-Sabah”: “Iraq has development plans for the next ten years, and the state is supposed to start implementing them to the fullest, and that everyone’s efforts should be combined in order to save the country developmentally, because we are facing a major confrontation regarding the country’s future unless we prepare for this matter.” Indicating that "this plan exists, but it requires a commitment from everyone, and that the parliament is present, the legislative authority and its institutions are stable, and the country is free from conflicts and rivalries, because they are all influential in the situation." He added: "The entry of the world into the fourth wave of (Corona) will not cause a closure, and even if it occurs, it will be lighter than previous closures, because experiences have taught countries the dangers of long closure, and taught them to organize life better, so its effects will be partial and not total."
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  • 3 weeks later...
 
 Baghdad: Haider Falih Al-Rubaie 
The financial advisor to the Prime Minister, Dr. Mazhar Muhammad Salih, expressed his optimism about the expected deficit levels in the next year’s budget 2022, stressing that the hypothetical deficit gap will “automatically cancel” as a result of the positive oil revenue differences, especially if the average price of a barrel of oil stabilizes at $70. At the same time, he revealed that the 2022 budget seeks to maximize the optimal spending on investment projects, with the aim of achieving a growth rate in the gross domestic product, which is no less than 5%.
Despite the level of optimism expressed by the government advisor, the economist, Manaf Al-Sayegh, believes that estimating the selling price of a barrel of oil in previous budgets is not subject to the standards of the global market, and this leads to the adoption of an inaccurate hypothetical price that pushes towards building spending with an unclear deficit, pointing out That Iraq's budgets are item budgets, and this pattern was abandoned by most countries of the world due to its inefficiency in achieving annual spending requirements, calling for work on balancing goal-oriented programs.
 
prudential deficit
Saleh said in a statement to {Al-Sabah} that {there are developments in the features of the expected general budget for 2022, which adopted an oil price of about $50 per barrel, for the purposes of calculating average oil revenues throughout the next year in light of a daily export capacity of more than three million barrels of oil}. Indicating that in the event that the spending ceiling increases by 10% over the current ceiling in the 2022 budget, this means that there is a precautionary deficit that the budget will adopt to avoid undesirable fluctuations in oil prices during the next fiscal year.
According to the foregoing, the financial advisor to the Prime Minister believes that the “hypothetical deficit will be 20% of the total spending ceiling, and about 8% of GDP, but the average price of a barrel of oil, if it continues to remain stable at $70, the budget will be in A situation of {mostly equilibrium}, and the hypothetical deficit gap will be automatically eliminated from the positive oil revenue differentials.
 
investment budget
Despite the “cautious” optimism shown by Saleh, which is closely related to fluctuating oil prices, with the aim of reaching a budget without a fiscal deficit, the next year’s 2022 budget in its other aspects, according to the government adviser, “will be distinguished by introducing a medium-term program for investment projects, with commitment to program costs for important and strategic projects, and according to their social priorities, especially those that affect the well-being of society and its economic priority, being income-generating and operating the business cycle in the economy.”
The next budget will also seek, according to Saleh, to {maximizing optimal spending on investment projects with the aim of achieving a growth rate in the gross domestic product that exceeds the population growth rate, and at least 5% or more, which will lead to an accelerated reduction in unemployment rates as well} Stressing that these steps will lead to an economic recovery in the country.
 
Items and Programs
In turn, the economist, Manaf Al-Sayegh, identified, during a statement to “Al-Sabah,” a set of imbalances, he said: The previous budgets suffered greatly, putting at the forefront of these imbalances the budget’s dependence on the principle of “items” that most countries of the year left, and now depend on the budget of goal-oriented programs In addition, the issue of estimating the selling price of a barrel of oil in the general budget is not subject to the standards of the global market, which pushes towards building spending with an unclear deficit. 
his level.
Al-Sayegh hinted, that {most budgets since 2014 witnessed the status of investment spending in them, equal in their expenditures to the value of the planned deficit in the budget, noting that any financial returns that come from selling oil in the event of an improvement in its prices through which investment expenditures are covered, This means that the government canceled investment spending and mortgaged it to the budget deficit.
 
Spending levels
The economist believes, “The circumstance that Iraq is going through needs to change the way and pattern of thinking of those in charge of building public budgets in the classical way, which depends on guesswork in determining spending levels, and thus, in most cases, increases what public spending units need, and leads to higher levels of operational spending.” At the expense of annual investment spending, with a decrease in the efficiency of spending, which leads to waste of public money and encourages corruption. Proposing in this matter {transition to a pattern of prioritizing according to the available spending levels, without the need for spending that leads to a deficit, with an emphasis on building budgets on the basis of annual programs subject to measurement, follow-up and modification to turn at the end of the fiscal year into existing projects that serve the community 
والدولة}.
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Financial Adviser to the Prime Minister, Dr. Mazhar Muhammad Salih, «Economy News»
  

 money and business


Economy News - Baghdad

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, expressed his optimism about the expected deficit levels in the next year's budget 2022.

Saleh said in a statement to the official "Al-Sabah" newspaper, "There are developments in the features of the expected general budget for 2022, which adopted an oil price of about $50 per barrel, for the purposes of calculating average oil revenues throughout the next year in light of a daily export capacity of more than three million barrels. oil".

He added, "In the event that the spending ceiling is increased by 10% over the current ceiling in the 2022 budget, this means that there is a precautionary deficit that will be approved by the budget to avoid undesirable fluctuations in oil prices during the next fiscal year."

According to the foregoing, the financial advisor to the Prime Minister believes that “the hypothetical deficit will be 20% of the total total spending ceiling, and about 8% of GDP, but the average price of a barrel of oil, if it continues to remain stable at $ 70, the budget will be in Mostly an equilibrium situation, and the default deficit gap will be automatically canceled from the positive oil revenue differentials.

Saleh pointed to the continuity of "the next year's budget 2022 in its other aspects, in offering a medium-term program for investment projects, with commitment to the program's costs for important and strategic projects, and according to its social priorities, especially those that affect the well-being of society and its economic priority, being income-generating and operating the business cycle in the economy." ".

The next budget will also seek, according to Saleh, to “maximize the optimal spending on investment projects with the aim of achieving a growth rate in the gross domestic product that exceeds the population growth rate, and at least 5% or more, which will lead to an accelerated reduction in unemployment rates as well.” He stressed that "these steps will lead to economic recovery in the country."

 
 
Views 114   Date Added 12/14/2021
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8 hours ago, yota691 said:

to “maximize the optimal spending on investment projects with the aim of achieving a growth rate in the gross domestic product that exceeds the population growth rate, and at least 5% or more, which will lead to an accelerated reduction in unemployment rates as well.

maximize optimal spending" best way is to delete zeros

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  I'm a longtime gut believer in dinar . There have been many times that I believed that the rv/ri was right around the corner . It was a few times ,but got stalled by poor judgment from  the  powers that were .  It is undeniable of the synergy of events that are occurring right now will lead to a fair market rate for the IQD . 

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1 hour ago, dinarham said:

  I'm a longtime gut believer in dinar . There have been many times that I believed that the rv/ri was right around the corner . It was a few times ,but got stalled by poor judgment from  the  powers that were .  It is undeniable of the synergy of events that are occurring right now will lead to a fair market rate for the IQD . 

It's hard to deny that so many political and financial things are coming to a head right now. It will happen, we just don't know the exact timing. I believe we need to see our dollar collapse with the markets and trumps return (publicly) before we get our blessing.. things are definitely lining up👍

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19 minutes ago, Longtimelurker said:

It's hard to deny that so many political and financial things are coming to a head right now. It will happen, we just don't know the exact timing. I believe we need to see our dollar collapse with the markets and trumps return (publicly) before we get our blessing.. things are definitely lining up👍

yeah not sure i think a RV can fix a lot of countries problems and debts, think of many countries were involved in the war on iraq and where the dinar was over printed.....a RV would reset the debt clock of the US and most probs every other country involved in the coalition war on iraq....

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  • yota691 changed the title to Al-Kazemi's advisor: The dinar will not collapse and be covered by good precautions

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