Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by **Proven** on Wed 08 Jul 2020, 7:27 am

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Post n°1

Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Proven on Wed 08 Jul 2020, 7:27 am

First topic message reminder :

Here are the steps of the delete the zeros project:

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Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets and the currency auction

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06/23/2020 08:24:25 PM

 Baghdad / extent

The Parliamentary Economic and Investment Committee believes that the "white" reform paper announced by Prime Minister Mustafa Al-Kazemi is "positive".

She said it would be a road map to control the management of border ports and ports, tackle currency auction corruption and stimulate the private sector.

And the parliament required the government to present the economic reform law within a sixty-day period in exchange for its approval to pass the domestic and foreign borrowing law to fill the fiscal deficit for 2020 before the end of this month.

And the Al-Kazemi government was forced on the eleventh of last May to send a draft of the internal and external borrowing law to the House of Representatives after the decline in oil prices in global markets in order to be able to secure the salaries of workers in the state for the remaining five months of the fiscal year. Nada Shaker Jawdat, member of the Economic Committee in the House of Representatives told (Al-Mada) that "the economic white paper that the government intends to implement in the coming periods aims at a comprehensive reform of the economic system," stressing that "the paper is still under study and research, and the government has not finished preparing it yet." ".

The circumstances of the financial crisis and the collapse of oil prices in global markets and the repercussions of the Corona virus pandemic crisis prompted Mustafa Al-Kazemi’s government to review the financial policy in Iraq in order to overcome the financial distress that threatens the Iraqi economy.

Jawdat expects that "the economic white paper will consist of reform packages launched and implemented in the form of three stages; the first is short-term and is the control of the state on border ports and ports, tackling corruption in the currency auction, smuggling hard currency, reducing the salaries of the three presidencies, and solving the problem of state real estate."

And she adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects."

The Prime Minister, Mustafa Al-Kazemi, confirmed the day before yesterday, that his government prepared a white paper for the expected reforms, and took preliminary recommendations that are being discussed before moving forward with them, pointing out the "need for complementarity between the government and the parliament to support these reforms."

A statement by Al-Kazemi’s office stated that the Prime Minister held a meeting with the Chairman and members of the Parliamentary Committee on Economy and Investment, during which the white paper prepared by the Council of Ministers was discussed, and includes economic, financial and administrative reforms, plans and strategies to meet the challenges facing the country.

The statement added that "Al-Kazemi listened to the proposals and opinions of the members of the Parliamentary Committee, and the vision of the committee regarding the proposed solutions and obstacles facing the process of developing the Iraqi economy and activating the various sectors," stressing the importance of witnessing "the current stage of further cooperation between the executive and legislative authorities, in a way that leads to service Citizen and achieve the public interest of the country, and overcome the challenges it faces. " In turn, Yahya Al-Aythawi, another member of the Parliamentary Committee on Economy and Investment, said, "Our meeting with the Prime Minister focuses on how to advance the Iraqi economy, revitalize the private sector movement, build factories and activate investment," adding that "the meeting touched on the possibility of implementing the Grand Faw port project ".

Al-Ithawi states in a statement to (Al-Mada) that "the agenda of the parliament's economic and investment committee meeting with the prime minister addressed several issues, including the issue of border crossings and customs, the development of agriculture, industry and the tourism sector, as well as organizing the relationship between the legislative and executive branches."

He continues, "The Prime Minister spoke to the members of the Parliamentary Committee about the reformist white paper and its content, which will be a road map for implementing a set of economic measures." And the deputy from the Iraqi Forces Alliance bloc asserts that "the implementation of this paper will be in the form of phases because it contains the foundations in which the government is running the wheel of the economy, and will be applied during a period of time not long", noting that "the presentation of this paper came in response to the conditions of the parliament for the government to prepare a reform paper Against passing the domestic and foreign borrowing law. " The House of Representatives had stipulated that the economic reform bill be sent by the government within a period not exceeding 60 days in exchange for passing the domestic and foreign borrowing law to finance the fiscal deficit for 2020.

On the other hand, the Minister of Finance, Ali Allawi, warned that the economy may face shocks that we will not be able to deal with unless the reform measures are adopted in less than a year. On Monday, the Parliamentary Committee on Economy and Investment announced its discussion with Prime Minister Mustafa Al-Kazemi, "The White Paper."

The committee said in a statement that, "In the context of real solutions and not relying on a single economy, the parliamentary economic and investment committee continues continuous efforts to address problems and obstacles and stand with the executive government in supporting and legislating important economic laws."

She continued, "In order to improve the performance of the economy and push the investment wheel, the Chairman and members of the Committee met with the Prime Minister to listen and discuss the white government reform paper and unify visions and enhance cooperation between the executive and the legislative authority in a way that serves the advancement of the government's work in its pursuit of scientific and realistic economic reforms."

She pointed out that "the Prime Minister listened to for his part the ideas and proposals put forward by the Chairman and members of the Committee that contribute to addressing the deficiencies and push in the case of the government take them out of the unilateral rentier economy to a strong and diversified economy through which the government can overcome the financial crisis And creating jobs for different segments of society, and everyone was keen on activating the agricultural and industrial sector and supporting it in the ways that he promoted, and the atmosphere of the meeting was positive, reflecting the mutual eagerness to walk the right track of economic reform.

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by Screwball on Wed 22 Jul 2020, 6:39 am

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Post n°11

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Screwball on Wed 22 Jul 2020, 6:39 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:Not good.

Unless there is pressure, there is no incentive to move forward with economic reform. Keep in mind, oil will not remain low forever. Just long enough for them to implement tariffs at the border and the delete the zeros project.

Trump pressure...Iran out Saudi Arabia in....auctions will end rate will change just a matter of time

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by **Proven** on Tue 15 Sep 2020, 12:56 pm

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Post n°12

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Proven on Tue 15 Sep 2020, 12:56 pm

Here are some interesting points:

Allawi believed that the economy, if not radically restructured in a highly coherent and well-implemented medium-term program, could have truly severe security consequences.

Another point:

On the other hand, the Minister of Finance, Ali Allawi, warned that the economy may face shocks that we will not be able to deal with unless the reform measures are adopted in less than a year. On Monday, the Parliamentary Committee on Economy and Investment announced its discussion with Prime Minister Mustafa Al-Kazemi, "The White Paper."

Here are the stages of the reforms:

Jawdat expects that "the economic white paper will consist of reform packages launched and implemented in the form of three stages; the first is short-term and is the control of the state on border ports and ports, tackling corruption in the currency auction, smuggling hard currency, reducing the salaries of the three presidencies, and solving the problem of state real estate."

And she adds, "As for the second stage of the reform paper, it will be medium-term, represented by restoring the Iraqi industry, solving the problem of corruption, and protecting the local product," pointing out that "the third stage will be long-term and includes major strategic projects."

From these statements, I realized that medium term reforms will be implemented in less than one year.

Plans already drawn up:

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by **Proven** on Wed 16 Sep 2020, 10:09 am

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Post n°13

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Proven on Wed 16 Sep 2020, 10:09 am

Here are some details of the medium term goals:

Informed sources in the Iraqi Central Bank revealed that the government wants to control the "money laundering" through the "restriction" import movement and prevent the importation of certain goods which are made locally, high salinity that the dollar exchange rate "is intended to force the merchants to promote local industry ", as pointed out that this rise" will remain until the completion of the project to delete the zeros of the local currency and the issuance of large cash categories to make the dinar strong or other currencies ", but the Finance Committee in the House of Representatives warned that the deletion process" requires big money can not be for Iraq provided in the current time. "

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by Stevethebrit on Wed 16 Sep 2020, 10:23 am

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Post n°14

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Stevethebrit on Wed 16 Sep 2020, 10:23 am

I love it when they mention 'delete the zeros'.

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by weslin3 on Wed 16 Sep 2020, 10:33 am

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Post n°15

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by weslin3 on Wed 16 Sep 2020, 10:33 am

[You must be registered and logged in to see this link.] wrote:I love it when they mention 'delete the zeros'.

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by **Proven** on Wed 16 Sep 2020, 10:34 am

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Post n°16

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Proven on Wed 16 Sep 2020, 10:34 am

[You must be registered and logged in to see this link.] wrote:I love it when they mention 'delete the zeros'.

I saw the plan years ago. It has not changed. I try to point it out. The questions is/was implementation.

How necessary is it? According to the Finance Minister, the time now is do or die.

He pointed out that the banks also need government support for the purpose of achieving what is stated in the governmental curricula, taking into consideration the following: The nature of the activities of the banks depends on the nature of the activities of the economic sectors. As long as the economic activity is concentrated in trade (imports), the activity of banks remains concentrated on foreign transfer and related Therefore, unless the other sectors (industry, agriculture, tourism) and others move to predict the diversity of banking activity, the legal environment and the extension of the rule of law should be provided to eliminate the phenomenon of default in the repayment of loans. Form a large proportion of total credit granted and thus reluctance of banks to provide loans and banking facilities.
Without the control of imports, these sectors will not rise, which explains the lack of progress on serious loans through the initiative of the Central Bank.

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by Stevethebrit on Wed 16 Sep 2020, 10:54 am

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Post n°17

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Stevethebrit on Wed 16 Sep 2020, 10:54 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:I love it when they mention 'delete the zeros'.

I saw the plan years ago. It has not changed. I try to point it out. The questions is/was implementation.

How necessary is it? According to the Finance Minister, the time now is do or die.

He pointed out that the banks also need government support for the purpose of achieving what is stated in the governmental curricula, taking into consideration the following: The nature of the activities of the banks depends on the nature of the activities of the economic sectors. As long as the economic activity is concentrated in trade (imports), the activity of banks remains concentrated on foreign transfer and related Therefore, unless the other sectors (industry, agriculture, tourism) and others move to predict the diversity of banking activity, the legal environment and the extension of the rule of law should be provided to eliminate the phenomenon of default in the repayment of loans. Form a large proportion of total credit granted and thus reluctance of banks to provide loans and banking facilities.
Without the control of imports, these sectors will not rise, which explains the lack of progress on serious loans through the initiative of the Central Bank.

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Thanks so much for posting these Proven, im so worn out with the delays and false dawns that when I see things like this and have you, Ward and all the other great folks on here deciphering what we read and seeing between all this fog then I just know this thing is going to pop at some point. Patience is a virtue they say........but grant me mine right now!!

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by **Proven** on Fri 25 Sep 2020, 9:58 pm

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Post n°18

Re: Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

by Proven on Fri 25 Sep 2020, 9:58 pm

Less than a year......

[size=24]The state will face "difficulties" and the budget is about salaries and wages .. "Baghdad Today" Conversations with Mazhar Muhammad Saleh[/size]

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Baghdad today - Baghdad

The economic figure, Mazhar Muhammad Salih, said, Thursday, (September 24, 2020), that the 2020 budget law is useless, given that it suffers from a large financial deficit in its folds, while the best solution to get out of the financial deficit crisis that the country suffers from is Going to approve the monthly budget.

Saleh, who worked as a financial advisor with more than one prime minister and is suffering from a health condition now, said in an interview with (Baghdad Today), that “the cabinet’s withdrawal of the budget from Parliament is consistent with the previous public finance vision, which confirms the futility of Reliance on an annual budget for the year 2020, because it is paralyzed in its formulations and components.

He added, "The 2020 budget depends on a deficit of more than 60% of its expenditures, and there is no capacity for financing except through borrowing that meets with strong parliamentary opposition, as well as weak lending funding sources, except at high costs that are burdensome for the national economy." Saleh continued, "The idea of going to approve the monthly budget is the available solution in the short term instead of relying on a general and formal budget law that cannot be planned."

He stated, "There is a restriction on the general budget activity, represented by the operating budget costs of more than 7 trillion dinars per month, while the available oil and non-oil revenues do not exceed 4 trillion dinars per month, and this means that the 2020 budget will be limited to the clause of paying salaries. And wages and salaries of retirees and social welfare until the end of the current year, while the state’s investment and operational expenses will inevitably be stopped.

The economic figure pointed out that "the state will face great difficulties in the next two months, unless it maximizes its resources through exceptional policies or improving oil revenues."

Saleh explained, "The continuation of government spending in this way will leave a negative impact on the general economic activity of the country, as the surveys confirm that the gross domestic product is losing about 30% of its components, which helped spread unemployment and at the same time led to a decrease in the per capita share and its annual share of the product." Gross domestic product. "

And he added that "the coming days may witness a weakening of the purchasing power of the individual, which will lead to the exposure of the general economy to recession."

The government had sent the 2020 budget bill to Parliament, before withdrawing it to make amendments to it, amid talk of a large deficit in it.

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Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets an

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Parliamentary Economy: The white paper includes 3 stages, starting with the reform of the outlets and the currency auction

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