Appearance of Mohammed Saleh: Iraq’s financial situation is reassuring

 

Sunday 15 September 2019 106

Appearance of Mohammed Saleh: Iraq's financial situation is reassuring

Baghdad / morning

Certainly, the financial situation in Iraq is reassuring and the deficits that are talked about are hypothetical, and that financial sustainability is not threatened with the presence of reserves at the Central Bank of Iraq and the government estimated at $ 87 billion, as well as a surplus ranging between $ 13-12 billion and we in the last quarter From this year.

Financial Advisor to the Prime Minister d. The appearance of Mohammed Saleh said: “The deficits in the budget hypothetical, and that the financial situation of Iraq is reassuring and does not threaten financial sustainability and under control,” pointing out that “Iraq in the fourth quarter of the year and there is a surplus liquidity between 13-12 billion dollars.”
Opening balance
He added that “the public finances act according to priorities, and that the Ministry of Finance governs control of expenses, and recognizes the important thing that must be spent,” stressing that in the “2018 budget there was a surplus of 20 trillion dinars, and thus a large opening balance”
He pointed out that “the fiscal deficit that is being talked about is hypothetical and not realistic, as ministries provide many requirements are taken important and required and determines the importance of disbursement according to the financial situation,” pointing to the “rationalization of spending and this comes from the imperative to control liquidity.”
Financial sustainability
He explained that “when preparing the budget requests are very large, so the figures appear large, but at the same time not all requests are taken, but are adopted important things that do not strain the country and maintain financial sustainability.”
Saleh said: “The abundance of strategic crop production and cover local demand and the federal budget provided the amount of 10 trillion dinars were allocated to import from global markets, and will rotate these funds 
Within the joints of the national economy to activate the joint. ” 
He explained that “the reserve of the central bank along with the reserve of the government amounted to 87 billion dollars, and this is very positive gives a great resilience to the state in the most difficult circumstances.”
Labor market
Saleh pointed to the “need to encourage the private sector to take its right role in the management of the economy, and provide tools to activate it in a way that serves all sectors, and praised the mobility witnessed in the housing sector and its impact on the movement of the local labor market,” pointing out that “the provision of funding for the private sector makes it able To activate a lot of sectors. “
Economic aspect
In a press statement, MP Eng. Mohamed Sheaa Al-Sudani stressed the need to focus on legislating laws that support the non-rentier state and increase the activity of the economic side by activating the industrial, agricultural, commercial and tourism sectors. Not to rely on the rentier economy in light of fluctuating oil prices and the possibility of the emergence of alternative sources 
For energy. “
Al-Sudani pointed out to the importance of activating the supervisory role of the audit and internal control departments, the bodies of the financial control bureau and the concerned departments in the ministries to prevent the risk of corruption spreading in many parts of the economy. 

The Central Bank holds a workshop in preparation for the classification of banks operating in Iraq internationally

9/15/2019

 

As part of the efforts of the Central Bank of Iraq to develop the performance of banks and keep them in line with international standards, this bank held a workshop on the requirements of classification of banks operating in Iraq by international agencies.

The workshop included assessment requirements from international rating agencies, most notably:

– Challenges faced by banks to prepare evaluation within international standards.

– The positive impact of the evaluation with international banking relations and correspondent banks.

– The impact of evaluation in increasing the principle of transparency of shareholders and the application of corporate governance.

– Risk assessment of banks in neutral terms and its importance in correcting gaps and increasing future hedges.

It is noteworthy that the Board of Directors of the Central Bank of Iraq approved in its resolution No. (113) of 2019 to the adoption of international credit rating agencies for banks operating in Iraq and work from 2020.

Central Bank of Iraq

information Office

2019/9/15

cbi.iq/news/view/1281

Halbousi discusses with a US company the development of energy in Iraq

Release date:: 9/15/2019 21:23

(Baghdad: Euphrates News) Speaker of the House of Representatives Mohammed Halbousi, on Sunday, with the company “GA” US file to develop electric power in Iraq.

In a statement received by the Euphrates News Agency, the Office of the Speaker of the Parliament said that “Al-Halbousi received, on Sunday, the President of the American GA Company, John Rice, and the head of its branch in the Middle East Joe Anis and the accompanying delegation.”

The statement added, “The meeting discussed the file of cooperation and partnership with Iraq in the field of energy, and the company’s obligations to rehabilitate power plants, as well as the provision of new energy and the establishment of associated gas stations to ensure the provision of electric power.”

Halbousi, according to the statement, “the willingness of the legislative authority to support investment companies and government plans and to ensure the needs of citizens and the wheel of industrial and agricultural production.”

He called on the President of the House of Representatives, “GE to provide social services in areas where the implementation of power projects, such as building schools and health centers, as well as partnership with local companies in accordance with the approved standards and the employment of Iraqi labor.”

For his part, presented the President of the “GE” American company, “about the company’s projects to rehabilitate the electricity sector across the country,” stressing “his desire to strengthen cooperation and partnership with Iraq.”

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Parliamentary Energy: The Presidency of Parliament addressed the government to send the oil and gas law to vote on it

 

  

Information / Special…

The Parliamentary Oil and Energy Committee announced on Sunday that the Presidency of Parliament sent a formal request to the government to send a draft oil and gas bill in order to complete its reading and vote during the current legislative term.

The committee member Muzaffar Fazl told the / information / that “the House of Representatives is determined to pass a number of laws that have been deactivated since the previous sessions because of political differences over them.”

He added that “among the laws that are being moved to pass the oil and gas law,” noting that “the Presidency of the Parliament sent a request to the government to send a draft oil and gas bill for the purpose of completing the first and second reading and make amendments to it.”

He explained that “the Council is determined to pass the law during the current legislative term.”

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Iraq is reshaping the Joint Operations Command by training with the Peshmerga and the Hashd

 

Abdul-Mahdi is discussing the electricity file with the heads of German companies Siemens and Aqua Power Saudi Arabia and the US GE

Baghdad / Al-Ghad Press:

Prime Minister Adel Abdul-Mahdi on Sunday discussed with the heads of Germany’s Siemens, ACWA Power and the US company GE, ways to achieve stable electricity in Iraq next summer.

“Mehdi met with the heads of Germany’s Siemens, ACWA Power and GE, each in private,” Abdul Mahdi’s media office said in a press release.

“The roadmap of the electricity sector was followed up with Siemens chairman Joe Kaiser and its commitments to achieve stable electricity before next summer,” he said.

He said, “The President of Aqua Power Mohammed Abdullah Abunayyan expressed the keenness of the Saudi leadership to strengthen the relationship with Iraq, and convey the greetings of the Custodian of the Two Holy Mosques and the Crown Prince.

“The prime minister also discussed with GE, John Rice and the head of GE Middle East, Joe Anis, in the presence of the US ambassador in Baghdad, the commitments made by the company to provide new and continuous energies.”

And that “the Chairman of the Board of Directors expressed his desire to cooperate and partnership with Iraq and work on the supply of energy and meet the needs of citizens,” adding that “attended the meetings of the Minister of Electricity and Economic Adviser to the Prime Minister.”

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Abdul-Mahdi is making a “forthcoming” visit to China to sign 30 memorandums of understanding

money and business

Economy News – Baghdad

Prime Minister Adel Abdul-Mahdi is to visit China on September 19 to sign about 30 major memorandums of understanding between Baghdad and Beijing.

The agreements will cover construction, construction, services, trade and industry.

The Iraqi Foreign Ministry said last week that «the Department of Asia and Australia in the ministry organized a consultative meeting for a number of representatives of Iraqi ministries and institutions», highlighting that «discussed the reached on the memorandums of understanding and agreements, which are expected to be signed during the visit of Prime Minister Adel Abdul Mahdi of the People’s Republic of China at the end of this month ».

In an interview with Al-Sharq Al-Awsat newspaper and consulted by Al-Eqtisad Al-Awsat, Advisor to Prime Minister Abdul-Hussein Al-Hunain said that «Abdul-Mahdi will head to China on 19 of this month at the head of a large delegation, characterized by clear economic features, including ministers, advisers and businessmen ».

Al-Hunain said that «the program of the next visit and economic files, carried by the Prime Minister includes major projects in roads and transport, services, education, health and other», pointing out that «the Iraqi and Chinese sides have prepared well for the visit in the past months, through continuous meetings with companies Greater China, and complete the funding model through the Iraqi-Chinese Joint Reconstruction Fund ».

Al-Hunain expects to sign during the visit «contracts and major agreements in the sectors of industry and agriculture, construction of schools, hospitals, housing, roads, trains and bridges», preparing that the visit «falls within the philosophy of the Prime Minister in opening up to the world», and that Iraq «friend of all, and an influential factor In the world, it is a bridge between all the different. ”

The prime minister’s adviser noted that «China will not be the last in this deal, there is a large trend towards the United States to sign major contracts ready with US companies, such as (Exxon Mobil) and (GI) and others. In addition, Iraq opened its doors to its neighbors to work and invest in it, on top of these countries Saudi Arabia and Iran, Turkey and the Gulf countries and Jordan ».

A large delegation of members of the ruling Communist Party of China (CPC) visited Baghdad in April to discuss Chinese investments in the reconstruction of liberated areas, and met with Iraqi officials and discussed with them coordination of Iraqi-Chinese cooperation in the fields of reconstruction, security and economy.

China welcomed the upcoming visit of Prime Minister Adel Abdul-Mahdi to Beijing. The visit to make joint efforts, hand in hand with the Iraqi side, in order to consolidate and deepen the political mutual trust Sino-Iraqi increasingly ».

Tao also expressed his hope that “the visit of Prime Minister Adel Abdul-Mahdi will enhance mutual cooperation in various fields, enhance human and cultural communication between the two friendly countries, and participate in shaping future plans for China-Iraq strategic partnership relations.”

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