Budget Articles


Council Wasit: Many security projects stopped due to lack of financial allocations
Council Wasit: Many security projects stopped due to lack of financial allocations
Author: Publisher on: June 21, 2015 

Wasit / Center Brief for the Iraqi Media Network (IMN) - confirmed the Wasit Provincial Council stopped many security projects that serve and provide protection for the people of the province because of lack of financial allocations adopted her from the relevant ministries.

He said council member expected Nomani's (IMN) said that "there are many security projects contracted by the provincial council with international companies stopped has not been completed, including the purchase of 75 project contracted by sniffer dogs and Wasit with a specialized Dutch company."

Nomani said that "security projects for many plating cars SUV postponed, for not providing sufficient funds to complete, as well as security surveillance cameras set up projects in a number of important areas and Wasit."

He said to expect Nomani Committee Chairman reconstruction in Wasit, that the preservation of the central government received 12 billion dinars to reimburse contractors for conservation projects stalled, with more than 20 contractors and delivery remained 120 contractor did not receive any money until now.

The local government confirmed in Wasit, that you need the province to complete the ongoing projects about 220 billion dinars.

From: Walid al-Zaidi, edit: Charter Shafiq

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Iraq is negotiating with international banks to find the resources to meet the budget deficit

15/06/2015
BAGHDAD / JD / .. Search Finance Minister Hoshyar Zebari and his accompanying delegation on Monday with a number of international banks in Istanbul to find the financial resources to cover the deficit in the 2015 budget.
                                                                                                                                                                
A statement from the Ministry of Finance followed / JD / copy of it: Finance Minister Hoshyar Zebari and his accompanying delegation discussed with a number of global banks - JP Morgan and City Bank - and Deutsche Bank - a second day of negotiations in Istanbul to find the financial resources to cover the deficit in the budget 2015
                                                                                                                                                            
The statement added that Zebari reviewed the performance of the Iraqi economy lost in the current circumstances and the role of the federal budget for this year in cost control and enhance the resources and technical delegation presented its observations to the queries raised by the representatives of the three banks and relating to activities in all economic sectors.

The meeting was attended by the prime minister for economic affairs and an expert adviser to the Ministry of Finance. We arrived on Sunday evening, a ministerial delegation to Istanbul city government to discuss the final stages in the process of issuing sovereign government bonds in the global financial market.
The delegation included Finance Minister Hoshyar Zebari and Oil Minister Adel Abdul-Mahdi, and Salman al-Jumaili Minister of Planning and Central Bank Governor Dr. Ali Keywords and adviser to the Prime Minister for Economic Affairs, Dr. appearance of Mohammed Saleh and senior advisers and experts participating ministries and the central bank. The delegation began meetings with representatives of international banks, Citibank and JP Morgan and Deutsche Bank to review the financial and economic, political and security on the Iraq report, as well as with the international law office of Iraq. The delegation is scheduled to meet also with the two International Tribunals classification and Alloitman Modiner and Fitch in order to determine the credit rating of Iraq in the international capital market. This was the budget law for 2015 has authorized the government to issue sovereign government bonds by seven trillion dinars to cover the fiscal deficit in the budget.
    (THIS EQUALS 6 BILLION USD)                          
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The financial crisis prevented the government from firing 80% of the allocation of ministries and local governments


The financial crisis prevented the government from firing 80% of the allocation of ministries and local governments
15/06/2015
BAGHDAD / Mohammad Sabah

Federal Court decided to "freeze" all appeals 2015 budget law until further notice due to the pending a careful study of each observations made by the government in this regard.
Parliamentary Finance Committee confirms that the government has not adhered to regardless of budgets for the ministries and provinces, attributed to the deterioration of oil prices, which plunged the country in a severe financial crisis.
The committee said that the Federal Court postponed a decision on appeal and the complaint made by the legislative and executive branches since June current until further notice. 


It is noteworthy that the House of Representatives approved the end of January, the financial budget for the current year, an amount of 119 trillion dinars, the equivalent of $ 117 billion, and a deficit of around 25 trillion dinars, or about 23 billion dollars, and calculates the price of a barrel of oil at $ 56 a barrel. 

He says Haider al-Mutlaq, a member of the Finance Committee, in an interview with the "long", "The legislation Budget Law for 2015 came after the establishment of the Parliamentary Finance Committee made some additions and amendments to the draft budget proposal, prompting the government to appeal to these additions to the Federal Court." 

Al-Mutlaq said that "the government budget to pay the appeal of the Finance Committee and the Legal Department of the House of Representatives to establish a case against this government objections before the Federal Court law," adding that challenged the government budget "represents a clear violation of the right of the powers of the House of Representatives."
Iraqi Constitution prohibits the House of Representatives to pass laws include the financial commitments in isolation from the government but to make way for the legislature to make the laws of proposals in consultation with the executive branch. 

He continues, member of the Finance Committee by saying that "the Federal Court will take a decision in this case and appeals before them during the month of June current," adding that "the legal department of the Finance Committee agreed once again to raise the complaint with the Federal Court about the delay in the budgets of ministries and provinces disbursed by the government." 

Finance Committee in the House of Representatives announced, earlier for raising the legal department in parliament filed a lawsuit in the Federal Court against the Council of Ministers for its failure to perform the general budget for 2015, Law time. 

And on the reasons Tkla government regardless provincial allocations, Afeesoha member of a coalition of state law to "the economic crisis experienced by Iraq and the repercussions of the drop in oil prices in world markets," pointing out that "the government has granted all state institutions accounted for 20% of the budget in general size." A number of provinces displeasure of non-exchange allocations in 2015, and talked about most of the projects stopped service because of it.

For his part, confirms MP Abdulkadir Omar, the other member of the parliamentary finance committee, said that "the government did not implement all budget items due to lack of liquidity and the economic crisis experienced by the country." 

Omar explains, in a statement to the "long", that "some paragraphs of the budget require steps by the government to immediately implement such as imposing taxes, for example, as well as the existence of administrative obstacles to the implementation of some budget items." 

And it refers MP for the National Union of Kurdistan bloc that "the Finance Committee presented a new complaint before the Federal Court against the government's delay regardless budget for the ministries and provinces," but said that "the Federal Court decided to defer action on the government appeals about the budget and the complaint the House of Representatives of the third of June to the notice Last. " 

Kurdish lawmaker predicted that "the court you want to gain more time to get out a comprehensive and full resolution through access to all the observations and objections submitted by the government and the House of Representatives." 

It notes the MP Omar Abdul Qadir that "the differences between the executive and legislative branches lie on the constitutionality of some of the paragraphs legislation in the budget bill in isolation from the government."

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Parliamentary Finance: $ 312 billion out of Iraq within ten years


Parliamentary Finance: $ 312 billion out of Iraq within ten years
06/11/2015 (00:01 pm)

Baghdad / al-Suhail Ahmed

Parliamentary Finance Committee confirmed on Wednesday, that the money that came out of Iraq within the framework of activity of government import estimated at approximately $ 312 billion in the period between 2004 to 2014 from funds derived from the volume of oil, and as pointed out that extrabudgetary funds Taatkhalha operations corruption and suspicious operations, draw economists that the activation of productivity and industrial and agricultural sectors, will contribute to the prevention of money out of oil revenues.

The decision of the parliamentary finance committee, Ahmed Hama Rasheed, in an interview for the "long" that "the Finance Committee is currently following up the financial crisis experienced by the country, especially the currency and problems in an auction as a result of banking operations as well as follow-up to what is happening in the banks," he said. " The Commission is currently preoccupied with following up the money that came out of the country in previous periods. " 

He noted that "in addition to smuggling and money laundering operations there as a result of corruption escape of money as a result of operations not to create a favorable environment for investment in the country," pointing out that "the investigation is continuing to see the money that has been washed and smuggled size."

He continued by saying that "the law passed the House of Representatives follow up and monitor the money, the Finance Committee and asked all banks operating disclose their accounts to follow them and work with the central bank as money laundering law which is certified by the law but there is weakness in its implementation by government agencies."
A member of the Finance Committee, said that "the money that came out of Iraq in the period between 2004-2014 government import activities nearly $ 312 billion of funds derived from the sale of oil, estimated at up to $ 565 billion for the same period the volume", adding that "money outflows Taatkhalha operations corruption and suspicious operations, as well as the lack of need for Iraq to this vast amount of imports. " 

Furthermore, he said Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, in an interview for the "long" to "reduce, monitor and money laundering, smuggling measures, judicial outside and inside Iraq, and you need to follow and comment of money smuggled and laundered adviser, and we need to lawyers and documents and must be effort continued access to the results, where most of the money this activity are public funds and funds derived from the crime or terrorism. " He continued by saying that "work is continuing to address the crimes of money laundering and smuggling and prosecution of public money and there are regional and international cooperation and ongoing actions to reduce these crimes." 

And the rehabilitation of the productive sectors and the advancement of their betterment to limit the Iraqi money out, in favor of that, "said the Supreme Council for the reconstruction of Iraq passed in the budget law for 2015, and there is legislation to law is scheduled to approve in the House of Representatives, and will be responsible for vital installations which affect the Iraqi economy development file . " For his part, he said economic expert, on behalf of Anton, in an interview for the "long" that "the amounts you spend monthly for the purposes of import is estimated at $ 3 billion for the import of consumer goods to the lack of internal production, as Iraq distracted annually nearly $ 85 billion for this activity," He pointed out that "the majority of imports are industrial and agricultural stopped as a result of the productive sector and this is what led to the exit of the money." 

And the censorship imposed on money outflows, said Anton, that "currently there are strict control on foreign remittances and not, as has been happening in the past, where calls for official bodies to prove all amounts used to import through official documents certified by external and internal official bodies and through customs," pointing to "In previous years there has been loose in the import of multiple outlets border without customs fees, but now Vtm application of customs tariff to curb this situation." He pointed out that "there are five government agencies responsible for the seizure of exit file namely the control of foreign exchange department, and the department money laundering, economic, security, customs and the central bank, to adjust the money out and achieve material imports and reduce the phenomenon of Iraqi funds leakage process." 

He concluded his speech by saying that "not to encourage productive sectors, industrial, agricultural, work indirectly to serve the money flight, and activation of these important economic sectors will contribute to the prevention of money out of oil revenues and build a solid foundation for productive sectors reduces the unemployment and poverty rates." The Central Bank of Iraq, announced (17 March 2015), the adoption of a new mechanism for the payment of taxes and control of "money laundering" through prepayment of taxes and customs for goods entering Iraq, returned to that will double the country's imports, while considered border crossings body, that the system The new "is not without its problems," in spite of the possibility of downgrade "corruption". 

The parliamentary Finance Committee has, in the (April 6, 2014), for the formation of a committee to follow up on a five-year money laundering and smuggling of the dollar out of the country. Asserting that stop the manipulation would raise the value of the Iraqi dinar against the dollar. 

The current year's budget law, has committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim participant in the auction the bank to provide the introduction of cargo documents Data tax and settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and otherwise apply to it the penalties provided for in the Central Bank Act or instructions issued by him, and the use of other banking instruments to maintain the strength of the dinar against the dollar.

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Parliamentary Economy: pay ongoing investment projects completed dues by 10% this month

06/07/2015 (00:01 pm)

Parliamentary Economy: pay ongoing investment projects completed dues by 10% this month

Baghdad / al-Suhail Ahmed

A commission of economy and investment representative, on Saturday, he will be paid out of investment projects dues by 10-20% continuing to companies in force during this month, as the Commission indicated that it will terminate the contracts with the lagging companies that have not implemented their projects and to bring these projects to other companies, he stressed economy experts there 6000 project worth 228 trillion dinars unfinished back to previous years, stressing the need to provide monthly statements and quarterly and semi-annual and annual rates of achievement.

She said a member of the economic and investment commission in Parliament, Najiba Najib, in an interview for the "long" that "the ongoing implementation of investment projects will be paid their dues by 10-20% during the month, and will terminate the contracts with the lagging companies that have not been implemented projects for reasons of failure executing companies and not reasons beyond their will, "pointing out that" the budget law gave the power to terminate the contracts with the lagging companies that have not implemented their projects in the sixth month and the announcement of the projects are again to be forwarded to other companies. " 

"The Commission will coordinate with the Ministry of Planning to provide them with a complete compendium for all projects at the level of local governments, ministries and after the legislative recess we will be familiar with the reluctance of companies and contracts that have not been implemented details will be issued a decision by the authorities concerned termination of those contracts." 

Furthermore, Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, in an interview for the "long" it "adviser said at the end of this month and within the draft budget, the projects of less than rates of completed about 50% will stop and that exceed this percentage will continue," noting that "this half-solutions but this is available because of emergency financial conditions experienced by the country. " The government will establish a higher council for the reconstruction of Iraq and be on the responsibility for referral and follow-up and implementation of major projects, and on this basis there is a bill in this regard is very important and is in the 2015 budget law. " 

Economic adviser, said that "The government will establish a higher council for the reconstruction of Iraq and be on the responsibility for the assignment and follow-up and implementation of major projects, and on this basis there is a bill in this regard is very important and is in the 2015 budget law." 

He pointed out that "the nature of the budget based on items not programs, and the problem is that at the end of the financial year to recover unspent funds allocated to projects and thus resource allocations returned to the same projects and this technical problem in Money Project Management", pointing out that "there is a trend towards building the so-called budget programs and administration, and this will change the whole system arithmetic. " 

He continued by saying that "the 2014 budget did not recognize, but there were cash flows become budget, the actual expenditure and actual revenue is supposed to ask the Court of control of the Ministry of Finance that scrutinizes the final account and see what actually disbursed until brought to the House of Representatives." 

And the backlog of projects in previous years, said economic expert, Majid picture, in an interview for the "long", that "there are 6 thousand accumulated project worth 228 trillion dinars have not been completed by the budget in 2014, which did not recognize, and according to some statistics there are more than 8 thousand project has not been completed valued at 288 trillion dinars, with regard to infrastructure since June 2003 until September 2012, according to US authorities responsible for the reconstruction report was 202.9 billion dollars Exchange, but are not figure out the projects completed, the money more inter from $ 51 billion in US aid, and $ 12 billion amounts found in food account for oil, and 126 billion Iraqi allocations and $ 12 billion in loans and grants, "pointing out that" the main charge of the waste is the executive authorities, whether the ministries or governorates " 

He continued by saying that "the BSA said a lot of violations of the laws and indications of a financial and administrative corruption and no one cares of all the judicial, executive and legislative powers and that the whole subject of public administration in relation to the country's failure in the previous period." 

He pointed out that "there are articles in the Constitution stresses the need to provide the final accounts revealed cash flow and link budget, the process of economic development and development plans and the need to provide accounts on time in October of each year, but all this has not been implemented, as well as non-implementation of the law of administration financial and public debt, which emphasizes the same as affirmed in the Constitution. " He stressed the need "to provide monthly statements and quarterly and annual and half, but unfortunately have not been following this subject in addition to the submission of statements on the implementation of the projects has not been followed up properly, as well as mistakes in the way the statements concerning the accomplishment account, where there is no comparison with the actual achievement and this One of the problems stressed the lack of transparency in the budget, "pointing out that" the transparency of the budget is only 4%, according to international reports. " 

He pointed out that "the basic problem is the concept of investment and investment budget, as the budget is not an investment in economic terms is balancing the provision of services, did not it is finally attention to sustainable investment process that lead to the process of economic development has not been interest in sectors of production and there is a flaw structural and regulatory and administrative in the budget. " For his part, former adviser to Ministry of Finance, Zia Alckheon, in an interview to the extent said, "We need a strict control of the Ministry of Finance and the Office of Financial Supervision because he sober institution that has the right to pursue all the projects" and pointed out that "This is the incredible number of phantom projects can not that happens all over the world, and there may be a corruption ratios up to 5% in the world, but this magnitude can not take, "attributing the causes of the great wastage of funds to the" palaces by the executive authorities, neglect and lack of oversight and accountability. " 

He pointed out that "the graph of economic power of the country in an ongoing waiver and the budgets of the country that was built on hundreds of billions of dollars did not lead to any real results, but that the state declared bankruptcy," noting that "there are countries that their balance sheets do not constitute 10% of Iraq's budget, but economically stable and the reconstruction and progress. " 

Iraq complains weak financial revenues due to declining oil prices and increased expenses, which the military side came on her head, which made the government resort to austerity as one of the solutions adopted to cope with the economic situation of the country which.

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الاقتصاد النيابية : المصارف الأهلية تعاني من شحة مالية وعلى الحكومة دعمها

Parliamentary Economy: private banks experiencing financial shortage and the government support

BAGHDAD / integrity -

He said a member of the economic and investment commission in Parliament that the private banks experiencing financial shortage and the government's support.

And between Ahmed Salim said "there are several doors that can open in front of the Iraqi economy, including investment door, in addition to the modifying Law No. 13 to bring in capital," adding that "what is going through the country is directly linked with the economy and has a negative impact what makes the market In the case of an ongoing recession. "

He said that "to deal with the market situation at the moment has to be for the government to support private banks amounts of loans from the central bank according to the standards and controls," noting that "most of the banks are suffering a shortage of funds due to lack of money in the market trading properly to the scarcity of the currency and this is reflected in the sector and the private traders in general. "

He continued sound that "the country is in crisis, security in light of the economic crisis and there are many reforms on the side of the economic sector of Iraq, including opening the doors to global banks and the exchange of bonds by private banks and partners in this aspect and all that enters in the revitalization of the Iraqi economy factors".

He noted that "the parliamentary committee the economy has a lot of reforms in the Iraqi economy, but it must be the stability of the security situation."

Iraq plans to request emergency funding of $ 400 million to $ 700 million from the International Monetary Fund, while the government made ​​a decision to issue government bonds worth $ 5 billion, and it continues to negotiate on their own terms.

And pass the country in a state of fiscal austerity and crisis in the provision of cash called on the government to think about and study to extend the payment of staff salaries period to forty days instead of a month and the imposition of numerous taxes to cover the deficit in Almoisnh.

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The International Monetary Fund will lend Iraq $ 833 million to support the economy of the affected (Daash)

06/07/2015 (00:01 pm)

BAGHDAD / long-Presse

The International Monetary Fund (IMF), on Saturday, agreed with Iraq to lend the amount of $ 833 million to support its economy, which was damaged by the war against al (Daash), while stressing to present the agreement of the Executive Body of the Fund to give its opinion cutter. The International Monetary Fund said in a statement received (range Press) copy of it, "the International Monetary Fund (IMF) reached an agreement with the Iraqi side after the IMF officials to discuss the provision of financial aid for Iraq in accordance with the provision of urgent financial aid (RFI) and in accordance with administrative procedures followed in the International Monetary Fund, the institution of this Agreement will be presented to the Executive Board of the Fund in July to express its opinion cutter in it. "

Fund The head of the International Fund for Mission in Iraq Carlo Sdralevdj as saying, "The Fund is ready to help Iraq in its efforts to address the damage to its economy due to the ongoing battles against al (Daash) as well as a result of falling oil prices in the global market." 


Sdralevdj He added that "The fighting is still drain the country's resources and created a humanitarian tragedy in the country where there are more than three million people displaced and cause violence also inflicted huge damage to infrastructure and property of the private sector," adding that "the circumstances of the battles that the country is waging against (Daash) led economy to shrink by 2.1% during the year 2014 is expected to bring the economy a slight recovery of 0.5% during the year 2015 ". 


He Sdralevdj welcomed "the steps taken by the authorities to address these urgent challenges," expressing support "for Iraq's request made by the Fund for urgent aid." 


The International Monetary Fund through the statement that "based on the Fund, the drop in oil prices led to reduced imports export, causing a deficit in the budget accounts is expected to reach GDP deficit by 8% during the year 2015. As a result Ankhvzt assets of hard currency in Iraq 2014 to $ 67 billion, is expected to decline further during 2015 ". 


It pointed out that "the budget deficit ratio is expected to increase from 5% of GDP in 2014 to 17% of GDP deficit for reasons related to the high expenses of exchange on the ongoing battle with Daash with falling oil revenues." 


The International Monetary Fund (IMF) had announced, the fifth of May 2015, to provide Iraq a request for financial aid, and as likely to reach an agreement within weeks to grant Iraq a loan of $ 800 million, predicted the arrival of aid in a manner rapid funding. 


It is noteworthy that the rapid approved funding method by the International Fund for a pattern of financial aid patterns to provide rapid financial assistance and a form of monetary policy Fund Member States offered to help in bridging the emergency needs and to bridge the fiscal deficit, a loan requires repayment within a period of time ranging from three to five years. It is noteworthy that Iraq complain about the weakness of financial revenues due to declining oil prices and increased military expenditures, which side came on her head, which made the government resort to austerity as one of the solutions adopted to meet the country's economic situation started.

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Central sales of the dollar raises to 25% and confirms: the exchange rate rose because of monopolists

Central sales of the dollar raises to 25% and confirms: the exchange rate rose because of monopolists

04/06/2015
BAGHDAD / Amer Mohi

The Central Bank, on Wednesday, the dollar exchange rate will remain high, if not all government parties agree with the bank on violators accountable, and as pointed out attempt Bank re-market to normal, economists favored the continuation of the dollar exchange rate closed higher with lower oil prices.

A member of the Board of the Central Bank, Majid picture, in an interview for the "long" that "the central bank tried more than one way to reduce the dollar exchange rate after Azdiadh for a long time, but this does not work there are so many Marqlat as the existence of monopolists in the cash markets."

He said the picture "The central bank gave an increase of 25% of the share of sales that was giving it to banks in accordance with the law with the increasing demand for the dollar, and in spite of increased pumping the dollar in the Iraqi market, but that exchange rates increased the most in a sudden incident" attributing this to "the existence of beneficiaries They are behind the increase. " 

He stressed that "the dollar exchange rate will not go down at all what the central bank and the government and the Finance Ministry did not collect a single policy and the development of plans and to punish the offenders," noting that "the bank is trying to re-market to normal in the coming days." , The economist said, Maitham coffee, in an interview for the "long" "There is a general trend and long-term expectations, suggesting the dollar prices will remain high in the Borders, a pessimistic outlook on the most likely." 

He added that "these expectations caused by the passage of the oil phase of a global game of falling prices, and the subsequent austerity budget in addition to the political and security situation is stable," stressing that "the dollar will live phase fluctuations in the next phase." He continued by saying that "the case of the stability of the dollar or not will be determined according to the procedures carried out by the Central Bank through its tools which affect the public, where there is the rise and fall of a short-term movement, as well as having an upward direction pessimistic long-term." 

Economic Adviser to the Prime Minister and take the appearance of Mohammed Saleh, in (June 1, 2015), the high dollar exchange rate in the market, "an order mastermind" of actors seeking to profit projects, and called for a "practical measures" to avoid this. Economic Adviser to the Prime Minister, believes that the high price of the dollar in the market was "the mastermind" led undisclosed destinations, pointing out that the central bank "was forced to increase the sales proportion of hard currency in the market since last week to cope with this increase." 

"The percent of $ exchange rate stabilized at 130 thousand dinars in the past few days," but "we were surprised by his rise after oversupply in the central bank."
He noted that "there are points monopoly on the market today, and benefit from the rise of the dollar affiliated projects," and urged to "put controls in order to maintain the exchange rate process," pointing to "the lack of a relationship between the process of deleting the zeros and the rise of the dollar exchange rate, the fact that this operation "carried out at the exchange rate stability", ruling now be removed within a period close. 

For his part, he attributed the deputy in the National Alliance honest we hinted, in the (April 29, 2015), the high prices of the dollar against the Iraqi dinar, as well as gold to the instability of the region and control of the United States to the global economy. He said we hinted that "the dollar prices rise, as well as gold came against the backdrop of the United States and leading other countries in this aspect and instability in the region control," stressing that "have special agendas to raise the value of its currency, the great powers not interested in the negative impact that gets the other countries."  And called on the government to "address the decline of the Iraqi dinar against the dollar, not just raising taxes," adding that "the oil policy for some Gulf countries significantly affected the rising dollar exchange rates." 

The Central Bank of Iraq, on Tuesday (19 May 2015), the launch of a trillion dinars for private banks to finance small and medium enterprises loans, and increase the share of dollar sales for banking companies and foreign transfers, and the development of measures to to address the lack of liquidity in some banks. The specialize in the banking sector may attributed, in (April 9, 2015), the reason for the high dollar exchange in front of the dinar to the last Central Bank special procedures to deduct customs duties and taxes in advance, and called for a "freeze" the resolution, as expected continued decline in the value of the Iraqi dinar, stressed the the need to abolish Article 50 of the budget. 

The Central Bank of Iraq had declared, in (17 March 2015), the adoption of a new mechanism for the payment of taxes and control of "money laundering" through prepayment of taxes and customs for goods entering Iraq, returned to that will double the country's imports. The current year's budget law, has committed the Central Bank of Iraq, in paragraph 50, identifying sales of foreign currency (dollar) in the daily auction ceiling does not exceed 75 million dinars, with the exercise of justice in the sale, and claim participant in the auction the bank to provide the introduction of cargo documents Data tax and settling accounts and savings Alkmarki within 30 days from the date of purchase of the amount, and so it applied the sanctions set forth in the central bank law or instructions issued by him, and the use of other banking instruments to maintain the strength of the dinar against the dollar.

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Government Parliamentary economy withstand high exchange rates .. and conversion fees exceeded the 8%

10/06/2015 (00:01 pm)

Government Parliamentary economy withstand high exchange rates .. and conversion fees exceeded the 8%
BAGHDAD / Noor Ali

The Commission on the economy and investment representative, on Tuesday, that the government bear the rising dollar exchange rates due to the fees imposed on remittance exceeded

8%, while noting that the central bank prints large currency denominations will enter the market over the next couple of months, economic adviser to the prime minister attributed the reasons for the high dollar to the deterioration of oil prices and reduce the central sales of foreign exchange rates.

She said a member of the economic and investment commission in Parliament, Najiba Najib, in an interview for the "long" that "the government bears the bulk of the rise in exchange rates, because of the imposed duties on remittance traders exceeded the 8%," noting that "the instability of the dollar exchange rate against the dinar, reflected negatively on the high prices of consumer goods. " 

She continued by saying that "the Commission will be several meetings to find out the central bank action on rising prices and the reasons that led to it and address it." She Najib, that "the central bank had to print with large groups currencies and will enter the market during the next two months, and this will be an important factor in strengthening the power of the Iraqi dinar, but not as great, because only the existing categories in the national currency value of the Iraqi dinar do not depend." (THIS IS A LIE, IT TAKES A MINIMUM IN AN EMERGENCY SITUATION OF 6 MONTHS TO PRINT A NEW CURRENCY ONLY AFTER IT HAS BEEN DESIGNED AND AGREED UPON!)

She explained that "the arrival of the dollar exchange rate to 130 thousand dinars, means that tax trusts fee has exceeded the percentage specified and we have to discuss with the central bank to find out the causes and know the procedures followed by him to reduce it." Furthermore, said economic expert, Resan Hatem in an interview for the "long" that "the government bears the bulk of the reasons that led to the deterioration of the dollar exchange rates, due to the significant financial fees imposed on merchants." He continued by saying that "the central bank was in control of the dollar exchange rate against the dinar, through Auction currency, but it has lost its independence with the present to some extent." 

And the central bank prints currencies large categories, between Hatem, said that "monetary transactions law stipulates that the new currency overwhelm the old money, and that the print currencies large categories lead to increased rates of inflation, and this will affect negatively on the overall economic situation of the country," calling to "the need to postpone this decision." 

He noted that "despite the fact that printed these currencies will reduce the size of the money supply, but at the same time will raise the level of prices and increases the rates of inflation," adding that the decision "does not hurt the welfare of the level of prices and the level of the Iraqi dinar." He was an economic advisor to the Prime Minister, has attributed, first of Monday, reasons for the high dollar in the local market to the deterioration of oil prices and reduce the central bank sales of foreign exchange rates, as called for reducing the value of the dinar and raise the dollar value of sales for the launch of cash and " rein in "demand and ensure the stability of exchange rates. 

He said the appearance of Mohammed Saleh said in an interview to the (long-Presse), "The instability of the US dollar exchange rates in the Iraqi market and to rise in recent months, due to the deterioration of oil prices," noting that it "led to the deterioration of the Iraqi payments prices, because the basis of its exports are oil ". Saleh added that "the Iraqi Central Bank action to reduce the direct sales of the dollar, instead of reducing the value of the dinar", so they returned to "create a market to sell the currency again." Economic Adviser to the Prime Minister expressed his support "to lower the value of the Iraqi dinar in line with the market, as well as raise the sales value of the dollar," adding that it "will launch a cash liquidity and restrain demand and contributes to the stability of the dollar exchange rate." 

The specialize in the banking sector attributed in (the ninth of April 2015) rising dollar against the dinar, to the Central Bank for deducting customs duties and taxes in advance procedures, and called for a "freeze" of the resolution, while the expected continued decline in the value of the Iraqi dinar, stressed the need to cancel Article 50 of the budget for determining the dollar sales. Iraqi citizens also complained, in (27 March 2015), higher prices for materials and goods in the Iraqi market, while the government called for the support and follow-up and determine the prices of goods in the market, confirmed that the instability of the dollar was behind the confusion of the Iraqi market.

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Planning: $ 25 billion needed for the reconstruction of Iraq affected areas

Planning: $ 25 billion needed for the reconstruction of Iraq affected areas
06/03/2015
Baghdad / al-Suhail Ahmed

Revealed the Ministry of Planning and Development Cooperation, said Tuesday that the extent of the damage caused by a very large organization Daash included development and infrastructure projects, while confirming that the estimates initial indicate a need areas affected by terrorism, to $ 25 billion for building them, drew economists that the volume of direct losses and indirect may exceed 300 billion dollars.

A spokesman for the Ministry of Planning and Development Cooperation, Abdul-Zahra al-Hindawi, in an interview for the "long" that "so far has not been a survey size of the losses in detail in areas with security tensions, so it's hard to call exact figures about the size of those losses but there are preliminary estimates It indicates that we need to 25 billion dollars for the reconstruction of areas affected by terrorism, "noting that" this figure is not based appreciation and a real number on the basis of a field survey of the damage because most areas are still hot. " 

"The damage included all the details of life and development projects Browns infrastructure, agriculture, electricity and the role of housing, education, transportation, all of which are exposed to the severely damaged It is too early now, the announcement of the figures." 


He said al-Hindawi said: "If we went to the idea of ​​economic damage estimated in the consequences and the problems that would result them, I think that the figure will be very significant, but so far we do not study things carefully and do not want to launch figures are not based on reality," adding that "great damage and possibly extend its effects to future periods. " And the work of the ministry as part of the reconstruction of the affected areas, the spokesman for the Ministry of Planning, said that "there was a move in the framework of reconstruction of the liberated areas, was the demand of all ministries, according to the jurisdiction that each of them to report what has happened in installations of the damage and offer the facilities of Services, to the Ministry of Planning, as well as for the local governments of the provinces affected and through these reports will be made clear picture. " 

He continued by saying that "there are two sides in the reconstruction process, first through investment allocations and regional development as well as the allocation of funds from paragraph petrodollars from the producing provinces to the affected provinces and the other side is what has been installed in the reconstruction of the liberated areas Fund, which was introduced as part of a budget bill with an initial capital of approximately $ 500 million, "pointing out that" the government has directed for grants and subsidies for international support for this fund provides even part of the reconstruction as well as the Iraqi government allocations of funds within the investment side and the development of the regions. " 


Furthermore, he said economic expert, Majid picture, in an interview for the "long" that "the loss of Iraq as a result of very large recent security crisis nor priceless, and there are physical, human and moral losses in addition to the effects of indirect a very large Iraqi economy either disable a large portion very of the Iraqi economy in the occupied territories or in terms of increasing the number of unemployed and displaced persons and displaced persons, as well as agricultural and oil basic resources that existed in those areas and depriving Iraq of them. "
He continued by saying: "If what has been all direct and indirect loss account, it will exceed the $ 300 billion, as well as reconstruction issues and all this because of the failed economic aspects of the administration of financial and administrative corruption." 

And the effects of future security problems, between the picture that "the losses can not be calculated accurately now, and should be available Statistics and energies sufficient for its own account, but the losses could reach a trillion dollars if we take into account the delay that took place in Iraq." He pointed out that "Iraq possesses huge potential of human and material aspects even been exploited properly and good management to become one of the rich countries and not from underdeveloped countries, if exploited all available resources in Iraq in the future to we could be of the advanced industrial countries." 

He pointed out that "disasters and problems and crises affecting any economy, but the crisis in Iraq, double the one hand, the occupation of Daash of many of the Iraqi territory and expenses and losses caused by On the other hand, the decline in oil prices." He continued by saying that "the poor financial and economic management led to get to the very large deficit in the financial and economic possibilities and if the will is not available to fight corruption and rational management of the country do not think we'll evolve and move forward no matter how big possibilities." 

For his part, said economic expert, Ahmed Sabih that "military spending his share of the budget but the margin Thread military spending is not real, size of military spending is much larger than estimated his budget, especially that the operating ratio in the military sector is increasing as well as the increase in the number of volunteers in During the last period of the popular crowd. " He noted that the "restructuring and building areas affected operations need big money and we need 5-6 years to finish this file through the allocation of part of the budget for the reconstruction of those areas, as well as dedicated to the martyrs and affected spending, and this enormous expenses need large sums of money and this margin Iraq's losses may exceed 300 billion dollars. " 

He pointed out that "the main joint to supplement the gross domestic product is oil, and we will see increases in GDP because we have an increase in production and export of oil as well as the increase in oil prices in the last period," adding that "Iraq does not depend on industry and agriculture so the output will not fall domestic product significantly. " He noted that "the employment of gross domestic product to serve the economic sectors futile process because most of them directed military spending in addition to the lack of strategic plans for the recruitment of the oil sector in a manner benefiting other sectors," noting that "economic diversity creates a state of diversity in the resources." 

He concluded his speech by saying, "I do not think we will see a state of development in the context of economic development, because the security situation is a stable and there is no long-term assignments as well as financial and administrative corruption in the joints of the state hindered greatly development movement." A spokesman for a coalition of citizen, Abu tirelessly eloquent, revealed in (24 May 2015) that the loss of Iraq Daash organization is up to 200 billion dollars, and our losses on the war exceeded 100 billion dollars. 


The Central Bank of Iraq, had announced in Monday (5 May 2014), the 2013-2017 National Development Plan, seeks to raise the economic growth and the implementation of the reform of many development programs and projects, as he emphasized that such a plan and policy aim to raise the GDP growth at an annual rate of (13.3%) and the development of non-oil activities an annual rate of 7.5%.

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Iraq high revenues from the sale of crude to $ 5 billion during the last May

02/06/2015
BAGHDAD / long-Presse

The Oil Ministry announced, on Monday, rising exported quantities of crude oil and the revenues generated during the month of May last, confirmed that the exports amounted to more than 97 million barrels imports exceeded five billion dollars, as pointed to higher average selling price compared to last March by reaching $ 55 a barrel Wahid. A spokesman for the Oil Ministry, Assem Jihad, in a statement received (range Press), a copy of which, "The exported quantities of crude oil and the revenues generated during the month of May last recorded an increase, according to preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO)." 

Jihad said, that "the total oil exports during the month of May amounted to more than 97 million and 504 thousand barrels revenues amounted to more than five billion dollars," noting that "the daily exports of crude oil rate increased upon reaching three million and 145 thousand barrels per day, which has not been achieved over the past decades. " Jihad said that "the quantities exported from the southern port of Basra amounted to more than 83 million and 520 thousand barrels, while total North ports exports through the port of Ceyhan more 13 million and 984 thousand barrels", stressing that "the sale of a barrel of oil price rate rose as the price of $ 55 per barrel. " 

He Jihad, that "the amounts exported oil have been loaded by the international oil companies that carry different nationalities from the ports of Basra and Khor al-Amaya and buoys unilateralism on the Arabian Gulf and the Turkish port of Ceyhan," noting that "The ministry has made a special effort to increase its exports of crude oil as compensation for the disabled tanker loading days due to bad weather from the southern ports. " The Ministry of Oil opened last Sunday, system to pump heavy oil card 850 000 barrels per day, and three giant reservoirs of oil in the Faw oil depot, south of Basra, and pointed out that the system is the first of its kind in the Southern Oil Company, and while confirming that the system will absorb the amount of oil the reduced previously and increase the export capacity of the southern ports, pointed out that the oil export rate of more than three million barrels per day. 

The oil minister, Adel Abdul-Mahdi confirmed, in (3 May 2015), that the oil Iraq exports during last April, amounted to 92 million and 800 thousand barrels, of which 78 million and 800 thousand barrels of southern ports, and 13 million 500 thousand barrels of Kurdistan and Kirkuk province , she returned to "break records" will look like "a modest achievement" in the near future, provided the cooperation of everyone to invest in their possession of the capacity of the country away from the "altercations and disruptions" mutual. The Iraqi Oil Ministry, announced that, in (the first of May 2015), about the rise in oil exports in April last, to a record three million and 80 thousand barrels a day, up from 2.00098 million bpd in March.

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The Ministry of Commerce based strategy to support the private sector     

The Ministry of Commerce based strategy to support the private sector
06/01/2015

BAGHDAD / long-Presse

The Minister of Trade Mlas Mohammed Abdul Karim, on Sunday, for the adoption of a strategy to support the private sector and its role in the economic process, and while stressing a partnership between the Iraqi private sector and the countries of the world, economic advisor to the prime minister Haider al-Abadi stressed, that the Central Bank of Iraq will be distributed loan trillion dinars the private banks to "a fair", and denied the existence of Marqlat facing the distribution process.

The Minister of Trade, Mlas Mohammed Abdul Karim, in a statement received (range Press), a copy of it, that "the ministry adopted a strategy to support the private sector by attracting various organizations and the private sector of the unions and the rooms and centers, links and contain it within the framework of the Commission on supporting the private sector," he It is also working on the "development of the private sector's exports through its participation in all economic processes such as exhibitions, conferences and seminars that are held inside and outside Iraq in coordination with the concerned authorities in the ministry." 

The minister added that "the ministry program includes a partnership between the Iraqi private sector and his counterparts in the countries of the world through their media international companies wishing to cooperate with him and facilitate all the procedures." Abdul Karim said that "the ministry is working on the promotion of Iraqi products and the use of electronic mechanisms," pointing to "activate the support and services that facilitate businessmen and investors, encouraging and attracting sober Arab companies wishing to invest work." 

For his part, said the appearance of Mohammed Saleh, said in an interview to the (long-Presse), "The Central Bank of Iraq will be distributed loan trillion dinars to the private banks around just under the controls and the ability to manage it," denying "the existence of Marqlat on loan or delay in distribution." Saleh added, that "the Central Bank will distribute the loan on small and medium enterprises that are active capital and the economic cycle in Iraq," noting that "some of the complaints which may be raised by the private banks, but the central bank is able to solve them." Economic Adviser to the Prime Minister and stressed that "the loan is aimed at activating the economic activity and addressing the recession suffered by", stressing that "the economic situation in Iraq is relatively reassuring despite the caution shown by the government on it." 

The Iraqi Ministry of Commerce announced (January 17, 2014) and there is a noticeable activity for the reopening of the offices of investment firms in Iraq, while Iraq described as "an attractive environment" for investment in the world, despite the security and political conditions. The Central Bank of Iraq, announced in (the 19th of May the current 2015), announced the launch of a trillion dinars for private banks to finance small and medium enterprises loans, and increase the share of dollar sales for banking companies and foreign transfers, noting that the development of measures to to address the lack of liquidity in some banks.

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Council Baghdad: the budget will allocate funds to complete ongoing projects

Council Baghdad: the budget will allocate funds to complete ongoing projects
BAGHDAD / Amer Mohi
31/05/2015

Baghdad Provincial Council confirmed that the amounts to be allocated from operating and investment budget will go ongoing projects that have achieved a high completion rates, and as pointed out that the province has not received any money from the federal government since the adoption of the budget, pointed out that the Council plan will be implemented in the event of reaching amounts of petrodollars.

He said the decision Baghdad Provincial Council, Farhan Qasim, in an interview for the "long" that "the province since the adoption of the budget did not receive any money from the federal government, whether it is from the operating budget or the investment budget or from the petro-dollar funds."

Qasim said that "the money that will be spent for projects which can not be set up, where they will be limited to only the ongoing projects," he said. "This makes it complements the work of the Council and only perform his projects planned."
He pointed out that "the amount of 28 billion dinars allocated for capital within the regional development project, a little of what is in the capital of many mistakes have been diagnosed and these mistakes can only be addressed by the establishment of specific projects or re projects in those areas." 

For his part, Chairman of the Environment Committee in the Baghdad Provincial Council, Naim Hato, in an interview for the "long" that "in the event of the province received sums of investment and the operating budget will be spent, it amounts ongoing projects that have achieved substantial completion rates."
He continued by saying that "the province will focus on projects in the energy, environment and health, that put off other projects to balance next year", adding that "expectations for a rise in oil prices in the next year." 

Hato stressed that "the province will implement the projects developed by the plan of the petro-dollar amounts and the provincial council waiting for these funds," noting that "a lot of promises received by the Council on receipt of these funds, but so far there are no".  He pointed out that "oil prices remain at this case and in accordance with the present division of the budget it will display Iraq to a real disaster, because according to these amounts for Amcharaa it will be carried out in the capital and thus will increase negative services."
He revealed the Baghdad Provincial Council, (May 28, 2015) closely received for about 28 billion dinars from the development of their own regions for the current year's budget, confirming cancellation of a large number of projects and lagging accountable those who made it. 

The head of the Council Riad dentex in a press statement, that "it is scheduled in the next few days the launch of about 28 billion dinars allocated to the province amounting to 850 billion dinars regional development budget," pointing out that "these funds will go to projects that exceeded the completion of the 50 ratios %. "  Adhadh confirmed that "the $ 28 billion could solve part of the problems facing our projects but not all, because the amount of what was allocated for the development of the regions is very low and not even enough for half of the projects raised and allocated for this year." He said the "Council in cooperation with the committees of the province of Baghdad was able to diagnose many of the lagging projects in the capital was canceled a large part of which is in the process another cancellation, because it failed to progress despite the availability of the elements of a good project." 

He dentex that "in light of recent allocations for the province, it can not be courtesy or any delay in the project due to lack of time and lack of allocations and that any delay to the project will reflect negatively on the capital services as a whole." He called the governor of Baghdad, Ali al-Tamimi in (17 May 2015), the General Secretariat of the Council of Ministers, to accelerate regardless allocated to the province from the current year budget funds to reimburse companies and staff salaries. Tamimi said in an interview that "the benefits of citizens and the salaries of workers in the province of Baghdad because of the lack of staff Off disbursement of funds allocated under the current year's budget by the General Secretariat of the Council of Ministers." He said al-Tamimi, said that "lack of disbursement of funds caused disable projects carried out by the province, as well as delayed benefits nationals working in the province and staff exchange." 

The governor of Baghdad, has recently announced, for maintaining free of any sums of money, as he emphasized the failure to maintain contracts to pay staff wages ability only after the launch of the amounts established in the current year budget. The International Monetary Fund predicted in, (21 March 2015), the high proportion of the deficit in the budget of 2015 to more than the proportion of the 12 percent announced by the government, to "significantly higher levels", because of lower oil prices and the weakness of the possibility of Iraq's commitment to export 3.3 million barrels per day, and assume the budget, and the proposed implementation of reform measures strict include austere in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits for sales of the Central Bank of currency, referring to the overall growth contraction, and the possibility of inflation rising slightly the end of this year.

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Iraq is seeking to produce 3.75 million barrels during the next June

05/28/2015
BAGHDAD / long-Presse

Detection site "American Bloomberg" Economic News, Wednesday, that Iraq is planning to enhance the export capacity of crude oil to a record rate of up to 3.75 million barrels daily, and as he pointed to an escalation in strategic OPEC for sale at a lower price of crude for the US, expected to keep the rest of the member states of the Petroleum Exporting policy on the production ceiling unchanged.

The site said Bloomberg, in a report, and I followed (range Press), that "Iraq would use the strategy of OPEC to defend its share in the global oil market to a new high," noting that "based on the shipping program, Iraq is planning to enhance the export capacity of crude oil a month Next by 26% to a record rate of up to 3.75 million barrels per day. " She explained Bloomberg, that "the amount of extra oil from Iraq will be equal to up to 800 000 barrels per day, or in other words, more than the next oil's share of a member of OPEC Qatar," expected to "keep the rest of the member states of the Organization of Petroleum Exporting Countries OPEC production ceiling policy as it is without change during the next meeting of OPEC to be held in 5 next June. " 

She stressed Morgan Stanley International Foundation for banking services, and according to what He said to him, "Bloomberg", that "any increase in Iraqi processing rates inevitably will mean that OPEC exceeded the ceiling defined by mass production at 30 million barrels per day." And Ohrmouka American Bloomberg, Economic News, "occurrence of an escalation strategy in OPEC for sale at a minimum price of US crude price in the current market glut." 

The Iraqi oil minister, Adel Abdul-Mahdi revealed, on Sunday, (the 18th of January 2015), for the export of Iraq's four million barrels per day in December 2014 the past, in the "highest rate is received at all," attributing the credit goes to the development of piers loading ports in the South, with increased supplies of oil from the Kurdistan region.
The Iraqi Oil Ministry announced that during January 2015, the export of 2.941 million barrels per day during the month of December 2014, and the achievement of resources amounted to about five billion and 161 million dollars.

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Iraq signs two contracts with Japan to finance electricity and sanitation projects

Iraq signs two contracts with Japan to finance electricity and sanitation projects
05/26/2015
BAGHDAD / long-Presse

Finance Minister Hoshyar Zebari, on Monday, announced the signing of two contracts with Japan to finance projects of sewage and electric power at a cost of $ 735 million, and as pointed out that two decades contain the training of Iraqi engineers by Japanese owners specializing in infrastructure, electric power maintenance, Deputy Head of Mission of Japan in Iraq Canshuquih Nagaauka Iraq granted loans worth more than five billion dollars to more than 23 projects.

He said Hoshyar Zebari, in an interview with the (long-Presse), "The ministry signed, today, two decades with Japan to finance projects of sewage and electric power at a cost of 735 million dollars," noting that "the project will include the construction and rehabilitation of the electricity sector projects and sanitation projects in Baghdad and the south and the Kurdistan region. " Zebari said, that "it was the signing of a contract with the Japanese side valued at $ 450 million for the construction and rehabilitation projects in the electricity sector in Baghdad and the south," pointing to "train Iraqi engineers by Japanese owners specializes in infrastructure electric power maintenance." 

He said Zebari, said he "was signed another contract worth 285 US dollars for sanitation projects in the Kurdistan region of million", pointing out that "The project aims to improve the health environment by providing full sewage treatment system for the first time in the Kurdistan region." For his part, Vice President of the Japanese mission in Iraq Canshuquih Nagaauka in an interview with the (long-Presse), "After the fall of the former regime in Iraq began in cooperation with the Iraqi side through a grant several loans to more than 23 projects and up to now have reached the amounts Okarznaha for Iraq to 5.7 billion dollars. " The Japanese government has agreed with Iraq in (the 16th of February 2014 the past), to lend $ 380 million to develop the port of Khor al-Zubayr in southern Iraq, usually that is a continuation of the partnership between the two countries in strategic areas. 

The electricity minister, Qassim al-Fahdawi, confirmed in (January Al31mn 2015 the past), that the ministry allocations within the financial budget for the current year was "frustrating", returned it will be a new obstacle to achieving the objectives of the ministry, while between that next summer will see an improvement in energy fitted, the advisers in the prime minister revealed the government headed grandfather viscous private sector to assume responsibility for electricity generation and distribution of electricity and the fact that the collection fees "do not meet the low cost of operation." 

Iraq has suffered a shortage of electricity since the beginning of the year 1990, and increased hours of rationing power after 2003, in Baghdad and the provinces, because made a lot of stations as well as sabotage attacks on its facilities over the past years, with increased hours of power cuts for citizens to about twenty hours per day, as witnessed during the last term significant improvement as continued operating hours to about 23 hours, especially after the low temperatures, to go back and go down after hours of processing because of the targeting of energy towers in a number of regions of the country. The Japanese government has granted Iraq facilitator loan of five billion dollars, of which one billion and $ 500 million grant, and the rest for the implementation of infrastructure projects.

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Anbar renewed its demand for the launch of the province's budget relief to the displaced and displaced

Friday 1 May 2015 12:48


Alsumaria News / Anbar
Political adviser to the governor of Anbar province confirmed sentenced al-Dulaimi , on Friday, that the displaced people and displaced within the province are going through a major humanitarian crisis, as demanded the government launch of the central budget for the relief of displaced people and the displaced.

Dulaimi said in an interview to the Sumerian News, "The displaced and displaced families in all regions of Anbar undergoing a major humanitarian crisis is the lack of them living requirements of food and other essential services that are necessary."






He said al-Dulaimi, that "Anbar province renewed their claims to the central government launched the province's budget for 2015 for the purpose of relief to the displaced and displaced persons and to provide all their needs and their ministry."

He called the Anbar provincial council member Ammash Festival, Thursday (April 23, 2015), the central government launched the province's budget for 2015, stressing the need to maintain funds to support the battle security forces and tribesmen against al "Daash" and relief to the displaced.

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Diwaniyah add 50 billion dinars to the budget




Thursday
30
April
2015
| 16:51
Diwaniyah add 50 billion dinars to the budget


Five provinces covered by the increase, which Diwaniyah, Babil, Muthanna being from a poor provinces, in addition to the lack of Diyala to restore the security situation, as well as being Karbala is witnessing a religious Visits



















Qurtas News / Diwaniya

Chairman of the Board of Diwaniyah province Jubair al-Jubouri said on Thursday that the Parliamentary Finance Committee agreed to add 50 billion dinars to the budget.

He said al-Jubouri told the "Qurtas News", that "the budget to maintain 123 billion dinars, add them according to the percentage of population about 8 billion of petrodollars to become a 131 billion", but he also said that "after the formation of two delegations to visit the Finance Committee in the Parliament has to approve the addition of 50 billion dinars to the budget without being a local Diwaniya and petrodollar revenues and thus has become a $ 181 billion budget. "

He explained that "the five provinces covered by the increase, which Diwaniyah, Babil, Muthanna being from a poor provinces, in addition to the lack of Diyala to restore the security situation, as well as being Karbala is witnessing a religious visits."

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Investment Development Center will hold a seminar discussion to address the delayed payment of dues private sector

Tuesday April 28, 2015 11:58











Alsumaria News / Baghdad
Investment holding Iraqi reconstruction and development center, a panel of economic symposium to address the delay in the private sector and financial benefits, the presence of a number of officials and a number of private sector companies.

The center said in a statement received Alsumaria News copy of it, "Investment and the Iraqi Reconstruction Development Center held, in Hotel Babylon in Baghdad, a panel symposium economic task under the title (the implications of the financial crisis on the financing of projects implemented by the private sector projects) have addressed one of the most important problems of the sector Special Wares namely late payment of financial dues by the implementation of contracts and projects for the benefit of the state, causing the sector and the social, legal and financial problems of tribal ".








The statement added that "the seminar was attended by First Deputy Prime Minister Bahaa al-Araji, Advisor to the Prime Minister Walid al-Hilli and director of the Office of the Prime Minister Mahdi Keywords and chairman of the province of Baghdad Riad dentex and a number of members of the provincial council and a number of agents, consultants, general managers, academics and a number of current and former House of Representatives of economic and financial In led by a member of the parliamentary finance committee Haitham al-Jubouri, in addition to a large number of private sector companies from all provinces and many civil society organizations. "

He pointed out that "the seminar began with a speech by Chairman Ibrahim al-Baghdadi center to welcome the guests and praised the true desire of the government to solve all of your problems of the sector and its determination to support this vital stemming from the faith and conviction of Prime Minister and Cabinet and his team sector need to shift towards this sector by working silently and movement of unremitting and it continues to constantly abuzz about to achieve the goal of economic reform which all aspire. "

He explained that "the Deputy Prime Minister gave a speech the government, which praised by the private Bdoralqtaa and design of the government, led by Prime Minister on the support and development of this sector and to resolve all its problems and encourage investment, and pointed to the need for the decision-maker be negotiated for Iraq is the executive pyramid of Prime Minister Haider al-Abadi head , we will not allow anymore any party to negotiate without authorization and to allow them to do so. "

The statement continued, "After that, announced the start of the seminar which was led by head of the center Ibrahim al-Baghdadi, which was broken by the interventions of serious, practical and effective through keynote speakers, who were Haitham al-Jubouri and adviser in the Council of Ministers Abdul Hussein Al-Anbuge, representative of the Ministry of Planning Azhar al-Rubaie, and a representative of the Ministry of Finance Khaled Salah al-Din."

The Prime Minister Haider al-Abadi, announced in the (February 12, 2015), announced the launch of a strategy for the development of the private sector within the government curriculum, stressing his government's commitment under the auspices of workers in the state, in what was considered that Iraq will be vulnerable to international fluctuations if continued dependence on oil.


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Study warns of Babylon in the results of the continuing economic recession




  Author: af Editor: sz Reporter:
  211
04/28/2015 12:20

Tomorrow Press / Babylon: Babylon warned a study conducted by Center for Human Rights and Urban Development in the Babylon of the consequences of the phenomenon of the economic recession experienced by the local market, which reflected negatively on the reality of work and caused growing phenomenon of unemployment among young people. The director of the Babylon Center for Human Rights Azzawi satisfaction for "tomorrow Press", "The center conducted a comprehensive study of the reality of work and level of economic activity in the province markets to avoid problems that could occur due to the economic recession experienced by the province markets."

He pointed out that "the study is based on control activities in various local areas of the economy and the adoption of the observations made by the commercial and industrial chambers in the province," pointing out that "the study results showed threatening to a large extent the future of the Small Business Ktsalih electrical appliances and small factories and workshops where there is no guarantees and subsidies to help them continuity in the current economic recession. " "The results of the study warned of the collapse of the domestic industry and the closure of most of the industrial workshops and increase the proportion of the unemployed, and called on the central government to take action to Halhh economy, including tax cuts and increased".

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House of Representatives tomorrow to discuss the final accounts for the budgets of 2005 and 2006

378 Show April 27, 2015 16:12
The new Iraqi parliament

(Independent) ... the House of Representatives resumes its normal on Tuesday his agenda includes a number of draft laws.

According to a statement of the Council received (Independent) said on Monday that "the agenda includes a vote on the membership of the House of Representatives and some offer the first reading of the decisions of the Federal Court for a proposed second amendment to the law to replace members of the House of Representatives No. 6 of 2006 health."

The agenda also includes reading the "Report Hajj 1435 AH / 2014, read the final accounts of the Republic of Iraq for the years 2005-2006." The statement pointed to "the continuation of the debate for the second reading of the draft second amendment to the Investment Law No. 13 of 2006 Act, with the second reading of the bill the establishment of private health institutions of the Federal Law". It was decided in tomorrow's meeting host Prime Minister Haider al-Abadi and Defense Minister Khaled al-Obeidi about the events of the death of soldiers in the Thar Thar area of ​​Anbar province, three days ago. (End)

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Petrodollars staffs demonstrate in Kirkuk

  • Monday, 27 April 2015 13:14

Shafaq News / Dozens of petrodollars staff gathered on Monday, in front of Kirkuk Provincial Council criticizing the federal and local governments, demanding for their salaries from the funds of the petro-dollar. Shafaq News reporter in Kirkuk, said that the preparation of demonstrators exceeded 100 contracted staff with conservative who gathered in front of the provincial council building in protest for not paying their wages.

The contract employees have staged a similar protest last week in which they gave the province one week to respond to their demands for not paying their salaries for five months. No one of the province’s officials attended to meet the protesters and listen to their demands so far.

The number of contracted staff is about six thousand people who were hired on the petro-dollar budget, which provides the fulfillment of one dollar for every barrel of exported oil from the province.


http://www.english.shafaaq.com/community/14140-petrodollars-staffs-demonstrate-in-kirkuk.html

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Abadi:
quantities of oil exporting a few do not cover the expenses of the general budget
العبادي: كميات النفط المصدرة قليلة ولا تغطي نفقات الموازنة العامة

Abadi: quantities of oil exporting a few do not cover the expenses of the general budget

April 27th 2015

Karbala / integrity - said Prime Minister Haider al-Abadi during a speech at the coordination meeting of the provinces is a regular

province in the holy city of Karbala that the budget sanctioned but lower oil prices impact negatively on the financial resources of the

country, and the quantities of exported oil a few do not reach to cover general budget expenditures. " .itba


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Economy


الأربعاء 3 يونيو 2015 | 01:12 مساء
Parliamentary Finance calls for borrowing to solve the financial crisis and warns of economic collapse




Baghdad /...daa member of the Finance drafters parliamentary deputy Ahmed Sarhan, Wednesday, the Ministry of Finance to borrow from the International Monetary Fund to resolve the Islamic Awalpennek or face financial crisis experienced by the country, as warned of the collapse of the Iraqi economy in the current financial crisis Time.

Said Ahmed for "Eye Iraq News" that the Ministry of Finance is obliged to implement and apply the budget in 2015 and tackle the crisis if obtained, stressing that the budget law gives the right to the Minister of Finance to borrow from the International Monetary Fund and the Islamic Awalpennek in the event of a malfunction caused to cause a financial crisis in the country. "

"The country's going through as a result of the deteriorating economic security conditions taking place in addition to the decline in oil prices, which caused a severe financial crisis, which calls for the Ministry of Finance to borrow to face this crisis. Otherwise, Iraq will pass an economic crisis and the collapse of a large".

Ahmed stressed on the need to eliminate the financial and administrative corruption because it confuses the work of the State as well as big an impact on the Iraqi economy and Maysbbh problems weaken the country's economy in Paschkl ".anthy 4

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Special / areas affected by the military operations need $ 25 billion

BAGHDAD - Iraq Press - June 3: The Ministry of Planning and Development Cooperation revealed that preliminary estimates indicate a need areas affected by the military operations to $ 25 billion.

A spokesman for the ministry, Abdul Zahra al-Hindawi, L / Iraq Press /, that "the extent of the damage caused by the organization Daash very large and included development projects and infrastructure, and estimates the initial refers to the need for the areas affected by terrorism, to $ 25 billion for reconstruction as well as the size of losses direct and indirect may exceed 300 billion dollars, "he said, adding that" so far has not been a survey size of the losses in detail in areas with security tensions so it's hard to call exact figures about the size of those losses but there are preliminary estimates indicate that we need to 25 billion dollars for the reconstruction of areas affected by terrorism. "

Hindawi pointed out that "this figure is discretionary and not based real number on the basis of a field survey of the damage because most areas are still hot and that the damage included all the details of life and development projects Browns infrastructure, agriculture, electricity and the role of housing, education, transportation and all exposed to the severely damaged It is too early now, the announcement of the figures." .

And the work of the ministry as part of the reconstruction of the affected areas, between that "there was a move in the framework of reconstruction of the liberated areas was the demand of all ministries, according to the jurisdiction that each of them to report what has happened in facilities of the damage and offer the facilities of services to the Ministry of Planning as well as for local governments of the provinces affected by these reports and the picture will be clear. "

He added that "there are two sides in the reconstruction first through investment allocations and regional development process in addition to the allocation of funds from paragraph petrodollars from the producing provinces to the affected provinces and the other side is what has been installed in the reconstruction of the liberated areas Fund, which was introduced as part of the budget law with a capital first by nearly $ 500 million. " Ended O.h

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June 15th 2015   Rev - 3
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