World Bank: The Iraqi economy is witnessing significant growth

[6ly410]

 

World Bank: The Iraqi economy is witnessing significant growth

Posted 49 seconds ago

 

World Bank: The Iraqi economy is witnessing significant growth - Iraq News (iraqakhbar-com.translate.goog)

 

News Source /Noon Agency

 

New Source /

Today, Wednesday, the World Bank confirmed that the Iraqi economy is witnessing significant growth, reaching 10.5 percent, while referring to the increase in the productivity of the non-oil sector in Iraq.
The bank said, "The Iraqi economy is witnessing a significant growth that reached (10.5%) during the first half of the year 2022 compared to a growth rate that reached (2.8%) in 2021," noting that "the high rate of oil production and export quantities and global prices had a A major role in this increase in addition to increasing the productivity of the non-oil sector in Iraq.
He added that "theHe added, "The increase in public revenues represents an important opportunity that supports the future prospects of the Iraqi economy towards diversifying the economy and increasing the contribution of non-oil sectors to the gross domestic product," explaining that "despite the favorable development opportunities in Iraq, the Iraqi economy is still suffering from problems." Many are looking for urgent solutions to sustain resilience and economic growth, including the water crisis and climate challenges.
While the Central Bank of Iraq affirmed, “its monetary policy seeks to achieve stability and economic growth by using various monetary policy tools, both traditional and unconventional,” noting that “its various initiatives, whose amount exceeded (18) trillion dinars, contributed to providing appropriate financing on soft terms for many projects.” Small, medium and large to support the private sector and economic diversification, including an amount of (1) trillion dinars to finance the purchase of renewable energy systems for individuals and projects.

[6ly410]

World Bank: The Iraqi economy is witnessing significant growth

 

World Bank: The Iraqi economy is witnessing significant growth | Economy | Dijlah Satellite Channelmy

- 07-12-2022 03:21 PM- Views:3564

 

 

 

The World Bank confirmed on Wednesday that the Iraqi economy is witnessing a significant growth of 10.5 percent, while pointing to the increase in the productivity of the non-oil sector in Iraq.

The bank said that "the Iraqi economy is witnessing a significant growth of (10.5%) during the first half of 2022 compared to a growth rate of (2.8%) in 2021," noting that "the high rate of oil production and export quantities and prices globally, had a major role in this increase in addition to increasing the productivity of the non-oil sector in Iraq."

He added that "the increase in public revenues represents an important opportunity that supports the future prospects of the Iraqi economy towards diversifying the economy and increasing the contribution of non-oil sectors to the GDP," explaining that "despite the favorable development opportunities in Iraq, the Iraqi economy still suffers from many problems looking for urgent treatments to sustain resilience and economic growth, including the water crisis and climate challenges."

The Central Bank of Iraq confirmed that "its monetary policy seeks to achieve stability and economic growth using various monetary policy tools, traditional and unconventional," noting that "its various initiatives, whose amount exceeded (18) trillion dinars, contributed to providing appropriate financing on concessional terms for many small, medium and large projects to support the private sector and economic diversification, including the amount of (1) trillion dinars to finance the purchase of renewable energy systems for individuals and projects."

 

 

[6ly410]

World Bank warns government of "current approach": significant decline will hit Iraq's economy

Economy|Yesterday, 23:07 | 

    

World Bank warns the government of its "current approach": an effective decline will hit Iraq's economy » Baghdad Today News Agency

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Baghdad Today-Translation

Today, Wednesday, the World Bank issued a report on the economic situation in Iraq, warning the government of the continuation of the "current economic approach", calling on the authorities in Baghdad to take new measures to amend the budget for the next year 2023. 

The World Bank in its report, which was translated by (Baghdad Today), explained that it is "concerned about Iraq's high dependence on oil imports to achieve economic progress despite the outlet it obtained as a result of high global demand and the price ceiling," noting that "the continuation of the current approach will lead to a significant decline in the Iraqi economy in the event that government economic policies are not changed."

The World Bank also explained that "Iraq will suffer during the next year 2023, from a financial deficit of non-oil resources of about 114 trillion dinars, or 58% of the total Iraqi non-oil economy," stressing that "the high percentage of the deficit in this aspect will lead to damage to the Iraqi economy at unprecedented rates."

The World Bank also stressed the need for "the budget for the next year 2023 to take into account the high price rates in Iraq and the escalation of the cost of living, and through which laws and protection networks are organized to ensure that the most vulnerable classes of citizens are not affected with regard to purchasing power."

The World Bank report concluded by "stressing the need for the Iraqi government to take into account the development of the private sector to address the unemployment crisis inside the country during its development of the next budget, explaining that the additional funds obtained by Iraq from the rise in oil prices will go towards paying the deficit in the sectors of non-oil resources, if not addressed during the budget."

[RJG]

Planning and the world Bank are discussing three important files, including financial reform

• Time: 12/11/2022 16:26:26
• Read: 429 times

  {Local: Al Furat News} Deputy Prime Minister – Minister of Planning, Muhammad Ali Tamim, discussed today, Sunday, with the World Bank Vice President for the Middle East and North Africa, Farid Belhaj, 3 important files, including financial reform.

The useful summary.. On important news, you can find it on Al-Furat News channel on Telegram.. To subscribe, click here

A statement from his office, which {Euphrates News} received a copy of, stated that: “During the meeting, which was attended by John Kristoff, the Regional Director for the Levant Countries, Paul Numba, Richard Abdel Nour, the Special Representative of the World Bank Mission in Iraq and the Director General of International Cooperation in the Ministry, Saher Abdel Kazim, and a number of officials took place. Exchanging views on a number of issues related to the role of the World Bank in supporting development efforts in Iraq.

He added, “especially with regard to the work of the Recovery Fund, the Social Fund for Development, and carrying out financial reform.”

Belhaj expressed “the World Bank’s readiness to continue serious and fruitful cooperation with the Iraqi government in everything related to financing development projects.”

https://alforatnews.iq/news/%D8%A7%D9%84%D8%AA%D8%AE%D8%B7%D9%8A%D8%B7-%D9%88%D8%A7%D9%84%D8%A8%D9%86%D9%83-%D8%A7%D9%84%D8%AF%D9%88%D9%84%D9%8A-%D9%8A%D8%A8%D8%AD%D8%AB%D8%A7%D9%86-%D8%AB%D9%84%D8%A7%D8%AB-%D9%85%D9%84%D9%81%D8%A7%D8%AA-%D9%85%D9%87%D9%85%D8%A9-%D8%A8%D9%8A%D9%86%D9%87%D8%A7-%D8%A7%D9%84%D8%A7%D8%B5%D9%84%D8%A7%D8%AD-%D8%A7%D9%84%D9%85%D8%A7%D9%84%D9%8A

[RJG]

The World Bank is optimistic about the future of Iraq for its rich human and natural resources

political| ʿ 04:18 – 11/12/2022

 

Baghdad – Mawazine News
President Abdullatif Rashid stressed on Sunday the importance of strengthening cooperation between Iraq and the World Bank, while the World Bank expressed its optimism about the future of Iraq for its rich human and natural resources.
The Presidency of the Republic said in a statement received by Mawazine News, a copy of it, that “Rashid received at the Baghdad Palace the delegation of the World Bank and during the meeting reviewed aspects of cooperation between Iraq and the World Bank in the financial and economic sectors, and stressed the need for the banking system in Iraq to develop in a more rapid, accurate, safe and transparent manner, in addition to stressing the importance of diversifying sources of national income and not relying solely on oil by strengthening the agricultural and industrial sector.”
aligned with the statement, the President of the Republic said, “Iraq is one of the active countries in the international community and one of the founders of the United Nations, the World Bank and the League of Arab States,” stressing “the need to strengthen and expand relations with the World Bank.”
“It is important for the international community to know that since the defeat of ISIS, Iraq has become more politically, security and economically stable, in order to encourage investments and capital to work in the country,” Rashid added.
aligned with, “The Iraqi government is serious about developing plans, programs and laws that directly relate to the needs of citizens by advancing the economy, infrastructure projects, and supporting the private sector.”
aligned with the country’s most prominent challenges are the climate change crisis that threatens the world as a whole, as well as the water problem with neighboring countries,” he explained, stressing that “the presence of joint delegations exchange dialogues to reach successful solutions for a more equitable distribution of water quotas commensurate with the increase in population.”
He continued, “What exacerbates the water crisis is the lack of the required organization,” pointing out that “the competent Iraqi government agencies have plans drawn up by specialists that need to work and implement more than the need for conferences and meetings.”
For its part, the World Bank delegation affirmed its optimism for Iraq’s future for its rich human and natural resources, expressing the World Bank’s aspiration to strengthen cooperation with Iraq in order to develop its economy. Finished29/h

 

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[RJG]

Economist: There is no point in employing thousands without improving the economy

Saturday 10 , December 2022 | EconomyRead Counter 29

Baghdad / NINA / - The consultant in economic development and investment, Amer Al-Jawahiri, confirmed that there is no benefit in employing thousands without improving the economy.

 

He told the National Iraqi News Agency (NINA) that what is important for successive governments is to satisfy tens of thousands of graduates and others with job degrees without real benefit.

 

Al-Jawahiri added that the food security law relates to the current year only, and next year has its own budget for investment projects that are supposed to have a significant impact on the country's progress and improving the economy with additional revenues.

 

He explained that granting job degrees will satisfy a few tens of thousands, but it will not benefit millions in the future as long as governments want to satisfy these people by paying them money without providing jobs and improving the economy.

https://ninanews.com/Website/News/Details?key=1019557

[6ly410]

Al-Sudani is discussing with the World Bank the establishment of the Reform, Recovery and Reconstruction Fund

Sunday, December 11, 2022 17:48 | politicalNumber of readings: 267

Al-Sudani discusses with the World Bank the establishment of the Reform, Recovery and Reconstruction Fund (ninanews-com.translate.goog)

Baghdad /NinaPrime Minister Mohammed Shia Al-Sudani stressed the government's priorities based on the social and economic needs of citizens, and its intention to transform poor groups from recipients of social welfare to effective people in the labor market, through deliberate and realistic plans.
During his meeting on Sunday, the Vice President of the World Bank for the Middle East and North Africa, Farid Belhaj, in the presence of the Regional Director for the Middle East and the Director of the World Bank in Iraq, discussed the prospects of bilateral Cooperation to implement important strategic projects in various fields, and to develop ambitious programs aimed at implementing reforms in the banking sector and in the development of the private sector, as well as supporting government programs to confront climate change.

The meeting discussed the implementation of joint programs in the field of youth employment, alleviating unemployment, and developing the social protection program. The establishment of the Reform, Recovery and Reconstruction Fund was also discussed./End5

[6ly410]

The President of the Republic stresses the importance of strengthening cooperation between Iraq and the World Bank

The President of the Republic stresses the importance of strengthening cooperation between Iraq and the World Bank (ninanews-com.translate.goog)

Sunday, December 11, 2022 16:54 | politicalNumber of readings: 251

Baghdad /Nina/ President of the Republic Abdul Latif Jamal Rashid stressed the need to strengthen and expand relations with the World Bank.
He said, during his meeting with the World Bank delegation on Sunday, that Iraq is one of the active countries in the international community and one of the founders of the United Nations, the World Bank and the League of Arab States, and added, " It is important for the international community to know that Iraq has become more political, security and economic stability, since the defeat of ISIS, in order to encourage investments and capital for work," noting that "the Iraqi government is serious about developing plans,

Programs and laws that relate directly to the needs of citizens through promoting economy and infrastructure projects and supporting the private sector.
He explained that "the most prominent challenges facing the country are the climate change crisis that threatens the world as a whole, as well as the water problem with neighboring countries," stressing the presence of joint delegations exchanging dialogues to reach successful solutions for a fairer one. Distribution of water shares commensurate with the increase in population.
"What exacerbates the water crisis is the waste and the absence of the required organization," he added, noting that "the competent Iraqi government agencies have plans developed by specialists that need to work and implement more than the need for conferences and meetings."

During the meeting, aspects of cooperation between Iraq and the World Bank in the financial and economic sectors were reviewed, and the need for the banking system in Iraq to develop in a more rapid, accurate, safe and transparent manner was emphasized, in addition to stressing the importance of diversifying sources of national income and not relying only on oil by strengthening the agricultural and industrial sector.
For its part, the World Bank delegation affirmed its optimism about the future of Iraq for its rich human and natural resources, expressing the World Bank's aspiration to enhance cooperation with Iraq in order to develop its economy.

 

 

[6ly410]

 

[6ly410]

The President of the Republic confirms to the World Bank the need for the Iraqi banking system to develop

Posted 13 seconds ago

 The President of the Republic assures the World Bank of the need for the Iraqi banking system to develop (iraqakhbar-com.translate.goog)

 

 

news source /Sumerian Channel

Rashid's office said, in a statement received by Alsumaria News, that the latter "received today, Sunday, December 11, 2022, at the Baghdad Palace, a delegation from the World Bank."

 

Rashid pointed out, according to the statement, to "the importance of the international community knowing that Iraq, since the defeat of ISIS, has become more politically, security and economically stable, in order to encourage investments and capital to work in the country," noting that "the Iraqi government is serious about developing plans, programs and laws that are directly related to With the needs of citizens through the advancement of the economy and infrastructure projects and the support of the private sector.

 

He explained, "The most prominent challenges facing the country are the climate change crisis that threatens the world as a whole, as well as the water problem with neighboring countries, stressing the presence of joint delegations exchanging dialogues to reach successful solutions for a more equitable distribution of water shares commensurate with the increase in the population."

He added, "What exacerbates the water crisis is waste and the absence of the required organization, pointing out that the relevant Iraqi government agencies have plans developed by specialists that need action and implementation more than the need for conferences and meetings."

During the meeting, “the existing aspects of cooperation between Iraq and the World Bank in the financial and economic sectors were reviewed, and the need for the banking system in Iraq to develop in a way that is more rapid, accurate, safe and transparent was emphasized, in addition to emphasizing the importance of diversifying sources of national income and not relying solely on oil.” By strengthening the agricultural and industrial sector.

For its part, the World Bank delegation affirmed "its optimism about the future of Iraq for its rich human and natural resources, expressing the World Bank's aspiration to enhance cooperation with Iraq in order to develop its economy."

 

 

You can also read the news from the source here

[6ly410]

 

 

World Bank discusses the possibility of supporting the banking and private sectors in Iraq

2022.12.11 - 17:22

World Bank discusses the possibility of supporting the banking and private sectors in Iraq (nasnews.com)

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Baghdad - Nas  

Prime Minister Mohamed Shia Al-Sudani received, on Sunday, the Vice President of the World Bank for the Middle East and North Africa, Farid Belhaj, in the presence of the Regional Director for the Middle East and the Director of the World Bank in Iraq.  

  

 

   

During the meeting, according to a statement by the Sudanese Media Office, a copy of which was received by NAS (December 11, 2022), "they discussed prospects for bilateral cooperation to implement important strategic projects in various fields, and to develop ambitious programs aimed at implementing reforms in the banking sector and in the development of the private sector, as well as supporting government programs to confront climate change."  

  

The meeting discussed the implementation of joint programs in the field of youth employment, alleviating unemployment, and developing the social protection program. The establishment of the Reform, Recovery and Reconstruction Fund was also discussed."  

  

During the meeting, the prime minister referred to "the government's priorities based on the social and economic needs of citizens, and its intention to transform poor groups from recipients of social welfare to effective people in the labor market, through deliberate and realistic plans."  

[HowieC]

It must be me. They've been talking and bragging for a whole lot of years about how their "reforming the banking sector."

NOW THEY SAY....we're about to reform the banking sector.  

 

We MUST be close...😳

[6ly410]

[6ly410]

 

[Officiallytook]

Trying to see our bank accounts witness significant growth right now 

[Officiallytook]

Trying to see our bank accounts witness significant growth right now 

[screwball]

5 hours ago, 6ly410 said:

 

world bank and IMF...big guns are in town!