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Finance Minister: The comprehensive economic program will be presented to Parliament in the next thr

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Minister - Finance Minister: The comprehensive economic program will be presented to Parliament in the next thr - Page 2 Empty Finance Minister: The comprehensive economic program will be presented to Parliament in the next thr

Post by Proven on Sat 27 Jun 2020, 4:10 pm

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Finance Minister: The comprehensive economic program will be presented to Parliament in the next three months


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Baghdad / news
Finance Minister Ali Allawi confirmed today, Saturday, that the government has an integrated program to reform the economy.

Allawi added in a press statement, "The comprehensive economic program will be presented to Parliament during the next three months."

He continued, "We will boost the state's revenues by other sources, such as customs and taxes, and strengthen the private sector."



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Post by Proven on Mon 27 Jul 2020, 9:10 am

[You must be registered and logged in to see this link.] wrote:Can this finally be happening?

As you read the articles, decide for yourself.  I have tried to layout the plan in articles. 


It is like watching a slow moving train. In my opinion, yes.  The natural probable consequences of events.  


Protests have restarted.  Pressure from the people.  

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Post by weslin3 on Mon 27 Jul 2020, 10:05 am

yes thumbs Thanks Proven...

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Post by zimi31 on Mon 27 Jul 2020, 11:15 am

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Thanks Proven...this sounds very encouraging!!! Hope it means what we are all so patiently looking forward to...

Yes.  The virus shut down their borders.  Now, the military is taking control of the border posts.  Soon implement electronic system for imports at border posts.  Then, tariffs (taxes on imports) will start the delete the zeros project.  
Thanks again...I really needed a little uplifting, as I am sure everyone does. After 15 years and now this virus, I have been walking on my face for longer than I want to admit...

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Post by Proven on Mon 27 Jul 2020, 11:30 am

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Thanks Proven...this sounds very encouraging!!! Hope it means what we are all so patiently looking forward to...

Yes.  The virus shut down their borders.  Now, the military is taking control of the border posts.  Soon implement electronic system for imports at border posts.  Then, tariffs (taxes on imports) will start the delete the zeros project.  
Thanks again...I really needed a little uplifting, as I am sure everyone does. After 15 years and now this virus, I have been walking on my face for longer than I want to admit...

In all the years, the plan has not changed.  The question has always been when the Iraqis would implement economic development for the betterment of their people.  Now, they are moving on implementation because they are going broke, and no one will loan them money.  They need $47/barrel (Brent) to break even.  It has not happened.  Pain is a great motivator.  

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Post by zimi31 on Mon 27 Jul 2020, 11:47 am

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Thanks Proven...this sounds very encouraging!!! Hope it means what we are all so patiently looking forward to...

Yes.  The virus shut down their borders.  Now, the military is taking control of the border posts.  Soon implement electronic system for imports at border posts.  Then, tariffs (taxes on imports) will start the delete the zeros project.  
Thanks again...I really needed a little uplifting, as I am sure everyone does. After 15 years and now this virus, I have been walking on my face for longer than I want to admit...

In all the years, the plan has not changed.  The question has always been when the Iraqis would implement economic development for the betterment of their people.  Now, they are moving on implementation because they are going broke, and no one will loan them money.  They need $47/barrel (Brent) to break even.  It has not happened.  Pain is a great motivator.  
That was always something I could never understand...believing that they could be probably the wealthiest country in the world...not forgetting about all the outside influences affecting them...don't you believe that probably every country in the world are holding dinars just as we are and there has to be some pressure there too...

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Post by Proven on Mon 27 Jul 2020, 12:46 pm

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:Thanks Proven...this sounds very encouraging!!! Hope it means what we are all so patiently looking forward to...

Yes.  The virus shut down their borders.  Now, the military is taking control of the border posts.  Soon implement electronic system for imports at border posts.  Then, tariffs (taxes on imports) will start the delete the zeros project.  
Thanks again...I really needed a little uplifting, as I am sure everyone does. After 15 years and now this virus, I have been walking on my face for longer than I want to admit...

In all the years, the plan has not changed.  The question has always been when the Iraqis would implement economic development for the betterment of their people.  Now, they are moving on implementation because they are going broke, and no one will loan them money.  They need $47/barrel (Brent) to break even.  It has not happened.  Pain is a great motivator.  
That was always something I could never understand...believing that they could be probably the wealthiest country in the world...not forgetting about all the outside influences affecting them...don't you believe that probably every country in the world are holding dinars just as we are and there has to be some pressure there too...

Yes.  I believe others (mainly central banks) holding dinar are applying pressure.  Keep in mind that the central banks are institutions and can wait a lifetime for Iraq to join the party.  We, as individuals, are just secondary beneficiaries.   

Be encouraged.  Ben Bernanke stated that extraordinary monetary policy is necessary to counteract sharply deficient aggregate demand.  The virus caused global demand to collapse.  The Duck did not see the dinar as a global phenomenon.  I thought it narrow minded.  Now, with the virus affecting the whole world, I am more convinced that the dinar is the solution.  I still believe we are following the 1929/1932 pattern.   The question is whether central banks will just devalue the dollar, or all currencies against gold.  In either case, dinar holders are in a good position to ride out the storm.      

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Post by weslin3 on Thu 30 Jul 2020, 5:30 pm

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The central bank lends Al-Kazemi’s government 8 trillion dinars

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Economy
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2020-07-29 07:19
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Shafaq News / Parliamentary Finance Committee revealed, on Wednesday, that the government borrowed from the central bank 8 trillion dinars, while it confirmed that the salaries of employees and retirees will become fully insured until the end of 2020.

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“The approval of the House of Representatives for local and external borrowing contributed to securing the salaries of employees and retirees during the current months,” the committee’s rapporteur, Ahmed Al-Saffar, told Shafaq News .
He added that “the government went to borrow eight trillion dinars from the central bank, despite the parliament’s approval to borrow 15 trillion dinars from the bank and local banks .”
And Al-Saffar said, “The rise in oil prices will contribute to alleviating the financial crisis in the country. Therefore, the salaries of employees and retirees will become fully insured until the end of 2020.”
And the Iraqi parliament (parliament) approved, on June 24 last, a  draft law that allows the government internal and external borrowing to fill the financial deficit in the country.
Iraq is going through a severe financial crisis due to the drop in oil prices since the outbreak of the Corona virus, which led to fears of the impact of the decline and the lack of revenue on the federal budget for 2020 and the impact of the operational budget and the salaries of government employees and retirees .
Iraq has not approved the 2020 budget so far as a result of the continuous protests since last October, which led to the resignation of the previous government headed by Adel Abdul-Mahdi and its transformation into a caretaker government that is not empowered to send the draft budget budget to parliament.

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Post by weslin3 on Thu 30 Jul 2020, 5:31 pm

So is this good or bad news?

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Post by Proven on Thu 30 Jul 2020, 8:34 pm

[You must be registered and logged in to see this link.] wrote:So is this good or bad news?

Shows their urgent need to generate revenue from other sources. Can only borrow until the end of the year.


It is a good thing.  Lots of pressure.....

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Post by weslin3 on Fri 31 Jul 2020, 7:37 am

[You must be registered and logged in to see this link.] wrote:
[You must be registered and logged in to see this link.] wrote:So is this good or bad news?

Shows their urgent need to generate revenue from other sources. Can only borrow until the end of the year.


It is a good thing.  Lots of pressure.....
 Some think this puts the RV off because getting money.. Like putting it down the road..

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