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Don961: The government is accelerating economic growth and anticipating an important recovery phase
Sunday 28 April 2019 Baghdad / Farah Al-Khafaf
Within the direction of the Council of Ministers to support the private sector as the main partner of the public sector in moving the Iraqi economy, the Ministry of Planning approved the launch of 30 percent of the entitlements of projects implemented by the private sector in Baghdad, in preparation for launch in other provinces.
This step and moves preceded by the government of Adel Abdul-Mahdi, an expert in the field of real estate "successive good news."
Way of achievement
"The government and this step will move the wheel of action that has been stalled for years, for several reasons, most notably the fight against terrorism and the economic crisis and previous measures," said expert Saad al-Zaidan. "Hundreds of projects that are idle or not implemented will find a way to achieve them after these steps, .
Zaidan pointed out that "investors and businessmen are optimistic about the ideas of the Prime Minister, which is an important economic mentality," noting that "the release of dues and the launch of allocations for projects, as happened last week in Baghdad and several provinces and ministries, will push forward the reconstruction, which means the availability of opportunities Work and flow of millions of dollars in the labor market, and thus will benefit everyone, especially as the state gets taxes and fees. "
Payment of dues
The Ministry of Planning has announced yesterday that Minister Nuri al-Dulaimi directed the accounting department in the Ministry of Finance to release about 52 billion dinars, which represents 30% of the total value of receivables for the contractors of the province of Baghdad in 2019.
Al-Dulaimi, according to a statement received by "Al-Sabah", authorized the concerned authorities in the province of Baghdad with the powers of implementation and disbursement, taking into account compliance with the instructions and powers of implementation of the investment budget for 2019 to shorten the routine and provide the best services to citizens in the shortest possible period of time.
Zaidan expected that "the coming months will see the completion of important projects, but it is likely to be 2020 projects year, especially that the Prime Minister decided to be next year's budget budget real projects."
On the agreements and memorandums of understanding signed by Iraq with several countries, Zaidan stressed that "these agreements and memoranda are of great importance, especially as they include the establishment of factories and laboratories and other important projects such as industrial cities and trade exchanges and others, and all these will move the Iraqi economy and Tnash.
Memoranda of Understanding
It is noteworthy that the economic adviser to Prime Minister Abdul Hussein Al-Henin said:
That "Baghdad will witness the convening of a major workshop for Iraqi businessmen to follow up the agreements and economic memorandums of understanding with Egypt, Iran and Saudi Arabia to put it into operation and become large projects in all parts of Iraq."
"Countries like France, Germany, the United States, China, Korea, Japan and others are on the way to working and cooperating with Iraq in this direction," he said. link
MilitiaMan: They are walking us into it.. Wow!
They are speaking in international terms. Just look at the line up of countries. Those that may have a keen eye, look at the last sentence and back it out of order and it is done.. Well just about.. ha. lol
But, look at the fact they are not talking in terms of what is to happen. We know they told us they were allocating 70% here and 30% there for reconstruction efforts, etc. Okay, I can buy that. Contracts can have time stamps on them and they can have addendum's to adjust them accordingly if and when approved by all parties
My view is having an actionable contract that maybe massaged if you will to meet an objective is not unreasonable to have.
They imo clearly may have given the nod to start projects pre funding and we will now or in the shortest possible time frame to follow up with allocations (payments), as they come due, in or on line. Well this article is addressing such things.
They are talking disbursements! They are talking about coming out of the 2019 investment budget!!
We have seen articles talking about 52 billion dinars for the contract efforts to rebuild, that at a program rate would be insignificant in rebuilding a country let alone a whole province or the country for that matter.
However, raise the exchange rate, then that is a whole different ball game.. imo Even if a partial payment or release of funds, it is a start and that tells me they are going to expose the exchange rate in short order.
Financial Inclusion is underway. It is due to be wrapped up in about 48 hours real close. Mahdi speaks to parliament in hours now.
He'll then be off to Germany and France, then home.. France is last on the list? lol I suspect that what he brings with him, is not about we will in the future, but, this is what we have done.
Now lets close that book! lol ~ imo ~ MM
Samson: Baghdad is looking to raise the value of trade with Jordan
28th April, 2019
Baghdad Chamber of Commerce discussed on Sunday with a high-level Jordanian economic delegation to raise the value of trade exchange with Jordan as well as boosting economic cooperation between the two countries.
"Jordanian and Iraqi relations are constantly developing," said Jafar al-Hamdani, head of the Baghdad Chamber of Commerce, in a statement received by Al-Ghad Press during a meeting with Jordanian Minister of Industry and Trade Tariq al-Hamwi and his accompanying delegation in the presence of members of the Baghdad Chamber of Commerce.
During the meeting, they discussed the latest developments in the economic and trade situation, means of developing and activating mutual relations and enhancing the value of trade exchange, as well as the bilateral relations between the two countries, in the interest of the two brotherly peoples.
And investment". "The Hashemite Kingdom of Jordan supports and supports Iraq in the face of existing challenges."
For his part, Alaa Al-Nouri, head of the Investment Center in the Baghdad Chamber of Commerce, said "the participation of Jordanian companies in trade exhibitions held in Iraq and the activation of mutual visits between traders in all sectors to achieve the vision of the two governments in this field." LINK
MilitiaMan: The above imo is related to currency exchange.
Enhancing the value of trade exchange? Well imo, by raising the value of your currency you are enhancing trade.
The demand will be greater for that currency, as the strength in value brings security and stability. No big time investors want to invest in sub penny stocks, same goes with sub penny currencies. Ease of trade becomes more profitable and competitive in nature.
Now that we see the CBI all over the news lately with the promotion of the Governor to the top tier of the AMF, this delegation imo is prodding the CBI to lift the exchange rate now.
Or at least in full support of it. (But we all know that right?lol) I mean, he is going to be the head honcho at the AMF is he not?. Not at 1190 is not.. lol ~ imo ~ MM
"The economics of supply and demand dictate that when demand is high, prices rise and the currency appreciates in value."
David12001: This is being walked over family, it is past tense please study this
Samson: The banking system in Iraq is a success for the banking sector
28th April, 2019
Announced the newspaper "Alvinanchal Times" Britain on Sunday, the success of "ironing Card" card used in the system of Iraq on an economic level.
"The number of Iraqis over the age of 15, who now have a bank account, has reached 23 percent, double the rate in 2011," the newspaper said in its analysis of the Iraqi banking market. "The number of beneficiaries of banking services, via the card card, seven million Iraqi citizens."
It is noteworthy that the high rates of deposits and bank accounts, strengthen the local economy, and the risk of financial isolation between the consumer and producer, only at the local and external levels, according to the newspaper. LINK
MilitiaMan: It is definitely and affirmation that they are making serious head way! No doubt about it.. ~
So, if I may add, today we have Alak and others having a successful meeting with the Kurds! There is a large delegation of Jordanians prodding (imo) Iraq to raise the value of exchange trade. (Currency is directly involved in that by definition,imo)
The article supports they are seriously wanting Iraq to move forward. Alak has been promoted to the head of the class at the AMF. The Iraq Trade Bank is to open mid month next.
Mahdi speaks to parliament tomorrow just before heading to Berlin and then France. The latter being the most important as it would be and end to an era ( Paris Club) and a new beginning.
Financial inclusion is underway through 04/30 and then the following day is a holiday and the next day they tell us the ministers that have been chosen with out dispute are on the table. Thereafter, we have Ramadan.
All those things considered support that we are literally finishing the process of Monetary reforms and will have an ending to come in short order.
They are not going to have Alak at the helm of the AMF with a program rate. They are not going to open an international Trade Bank branch in Riyad Saudi Arabia at a program rate nor will they go international with the ISX linked through the NASDAQ at a program rate. imo.
So, all said and done we are in such a beautiful spot, I am just grinning ear to ear now!
Wow!! ~ MM