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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Al-Kazemi’s advisor presents a proposal regarding financial compensation for Kuwait

    Rocky
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    • Post n°1

    Al-Kazemi’s advisor presents a proposal regarding financial compensation for Kuwait Empty Al-Kazemi’s advisor presents a proposal regarding financial compensation for Kuwait

    Post by Rocky Fri 05 Nov 2021, 8:08 am

    [size=30]Al-Kazemi’s advisor presents a proposal regarding financial compensation for Kuwait[/size]

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    AM:10:28:05/11/2021

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    Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, on Friday recommended transferring the deducted financial flows of Kuwait’s compensation to savings and investment.

    Saleh said in a statement followed by NRT Arabia, (5 October 2021), that "the money that has been going outside the national economic cycle in the form of war compensation since 1996, and amounted to $52.4 billion, will turn its deducted annual flows to serve the interest of the national economy, especially in achieving Financial space in the sovereign resources of Iraq, with an average of no less than two billion dollars annually, according to the current oil prices, to contribute to enhancing the financial sustainability of Iraq.
    He added, "I find it necessary to maintain the path of the transformation of the corresponding amounts of compensation to be savings that flow into the national economy cycle, especially the trend towards financing income-generating investment projects, which is a positive cumulative development process that contributes to promoting growth in the gross domestic product at accelerated rates, after the war compensations were It constituted a negative deduction and a drain on the national income cycle and over the past three decades, as Iraq paid a high direct price in it between war compensation and the costs of the inspection teams, and indirect costs represented in the destruction of Iraq's infrastructure due to the operations of the previous Gulf War, reckless war conflicts and disruption of economic growth opportunities that all formed The costs and burdens may be ten times more than the compensation amounts mentioned.”
    Salih explained, "The shift from the political economy of the war that Iraq fought between 1990-2003, to the political economy of peace means a shift towards development, progress, stability and building prosperity in a new Iraqi era."
    Al-Kazemi's advisor, Mazhar Muhammad Salih, had confirmed earlier that Iraq would end Kuwait's compensation file in early 2022, while revealing the size of the financial compensation paid by Iraq during the past three decades.  
    Salih stated, "Based on UN Security Council Resolution No. 692 issued on March 20, 1991, it was decided to establish the so-called United Nations Compensation Committee (UNCC) to deal with compensation claims resulting from Iraq's invasion of Kuwait in August 1990, as Iraq had to pay compensation to international and Kuwaiti individuals and entities amounting to In total, approximately $52.4 billion, according to compensation lists approved by the United Nations Compensation Fund.
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    • Post n°2

    Al-Kazemi’s advisor presents a proposal regarding financial compensation for Kuwait Empty Eyes open to the surplus funds with the end of Kuwait's compensation... $2 billion annually, will it

    Post by Rocky Fri 05 Nov 2021, 8:13 am

    [size=30]Eyes open to the surplus funds with the end of Kuwait's compensation... $2 billion annually, will it be spent or saved?[/size]


    2021-11-05


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    Yes Iraq: Baghdad

    Iraq is close to completing Kuwait's compensation amounting to more than 52 billion dollars, with only 629 million dollars remaining, or only 1% of the total compensation, and it will be paid early this year.
    With the end of Iraq's payment of these compensations, which it had been paying in installments three decades ago, attention began to turn to these funds, which will return to the state treasury after it was going abroad and deducted from Iraq's oil revenues.
    In the first place, the Kurdistan region is awaiting an increase in its share of the budget after the end of the payment of compensation to Kuwait, as the rapporteur of the former Parliamentary Finance Committee Ahmed Al-Saffar says, indicating that the region was contributing 5% of its budget to pay compensation to Kuwait with Iraq, and thus this percentage will return to the region’s budget in the years Coming and raising its share.
    The region’s budget is approximately 15 trillion dinars, so the region, according to the mentioned percentage, was paying 750 billion dinars in compensation to Kuwait with Iraq, which is approximately more than 500 million dollars annually out of nearly two billion dollars that Iraq paid annually to Kuwait
    On the other hand, the government economic advisor Mazhar Muhammad Salih believes that the compensation money that was deducted at a value of two billion dollars annually should be saved and not used.
    Salih said that "the funds that have been going outside the national economic cycle in the form of war compensation since 1996, and amounted to 52.4 billion dollars, will turn their annual deducted flows to serve the interest of the national economy, especially in achieving financial space in the sovereign resources of Iraq, with an average of no less than two billion dollars." annually, according to the current oil prices, to contribute to enhancing Iraq’s financial sustainability.
     
    He added: “I find it necessary to maintain the path of the transformation of the amounts corresponding to compensation to be savings that flow into the national economic cycle, especially the trend towards financing income-generating investment projects, which is a positive cumulative development process that leads to enhancing growth in GDP at accelerated rates, after the war compensations were It constituted a negative deduction and a drain on the national income cycle and over the past three decades, as Iraq paid a high direct price in it between war compensation and the costs of inspection teams, and indirect costs represented in the destruction of Iraq’s infrastructure due to the operations of the previous Gulf War, reckless war conflicts and disruption of economic growth opportunities that all formed The costs and burdens may be ten times more than the compensation amounts mentioned.”
    Saleh concluded that "the shift from the political economy of the war that Iraq fought between 1990-2003, to the political economy of peace means a shift towards development, progress, stability and building prosperity in a new Iraqi era."



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