Tues. AM TNT News Articles 11-23-21



don’t get excited the RV has been imminent for years hahaha and look at the bolded part

Iraq Announces Its Imminent Accession To The World Trade Organization

Today, Monday, The Ministry Of Commerce Revealed An Upcoming Visit Of Its Minister To Geneva To Discuss Iraq’s Accession To The World Trade Organization, While Noting That Iraq Needs To Pass Laws And Legislation To Support Its Position Internationally.

The Official Spokesman For The Ministry Of Commerce, Muhammad Hanoun, Said, “The Ministry Of Commerce Is Mobilizing Its Efforts Towards Iraq’s Accession To The World Trade Organization, And Its Minister And At The Head Of A Government Delegation Will Go To Geneva Next Week To Reach An Agreement With European Trade Ministers And European Countries Regarding Accession.”

He Stressed That “We Look Forward To Finalizing The File Of Iraq’s Accession To The World Trade Organization Soon,” Noting That “The Accession Process Is Complex And Includes Many Great Conditions.” 

He Pointed Out That “Iraq Needs To Pass Laws And Legislation On Many Topics, Including The Economy, Customs, And Other Required Details And Controls.”

He Explained, “The Ministry Of Commerce Has Prepared An Integrated File, And We Hope To Discuss It With The European Side With The Aim Of Joining The Organization.”  link

Iraq’s possession of US Treasury bonds is down to about $18 billion

The US Treasury announced, on Tuesday, that Iraq’s possession of US bonds decreased to 17.954 billion dollars during the month of September.

And the treasury said in its schedule, which was reviewed by / Mawazine News /, that “Iraq’s possession of US Treasury bonds for the month of September decreased by about one billion dollars and by 5.18% to reach 17.954 billion dollars, after it was 18.934 billion dollars last August,” noting that “these bonds It is still higher than the month of December of 2020, by 4%, when Iraq’s holdings of bonds amounted to $17.1 billion.”

And she added, “Iraqi bonds, including long-term guarantees of $8.578 billion and short-term guarantees of $9.376 billion,” noting that these bonds represent 6.7% of Arab countries’ investments in US bonds and 0.2% of world bonds.

In the Arab world, Saudi Arabia is at the forefront of the most possessing countries, with a value of 124.3 billion dollars, followed by the UAE with 58 billion dollars, Kuwait third with 46.3 billion dollars, then Iraq fourth, Oman fifth with 5.4 billion dollars, then Morocco with 3.8 billion dollars.

She pointed out that “the largest holder of US bonds is Japan, with a value of 1.299 trillion dollars, followed by China, with a rate of 1.047 trillion dollars, followed by Britain, with a value of 566 billion dollars.”  link

Baghdad sends more than two billion dinars in financial dues to the Kurdistan Region

The federal government sent today, Tuesday, the seventh batch of financial dues to farmers of Kurdistan Region for the year 2021, which is scheduled to be distributed to the provinces of the region.

The Director General of the Directorate of Trade in the Ministry of Industry and Trade in the region, Nawzad Sheikh Kamel, said in a statement today, that the amount sent by the federal government is as follows: Sulaymaniyah one billion and 400 million dinars, Erbil 923 million dinars, Dohuk 140 million dinars.

He explained that after completing the administrative procedures, the amounts will be distributed to farmers through the Directorate of Grain Trade of the Kurdistan Regional Government, noting that farmers will receive their financial dues as soon as possible from city banks  link

Al-Kazemi’s advisor draws a road map for the sustainability of Iraqi economic growth

Today, Tuesday, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, identified a set of measures that included the sustainability of Iraqi economic growth, while stressing the need to launch a package of measures that encourage civil activity to invest and produce.  

Saleh said in a statement to the official agency, followed by “Nass” (November 23, 2021), that “what matters today is the accelerated growth in the energy sector, whose contribution to the gross domestic product constitutes approximately 45% of it, and its direct and indirect effects extend to the activity of the national economy.” And the business cycle in Iraq has increased by more than 80% due to the positive effects resulting from the rise in oil prices and the increase in the quantities produced and exported of crude oil under OPEC.”  

He added that “the launch of real investments in support, formation and building of productive capital wealth will remain in the forefront to maintain the sustainability of the achieved positive economic growth, which was initiated by the construction sector under the influence and urging of the initiative of the Central Bank of Iraq to provide nearly 2 trillion dinars that went to finance the housing activity, which is the activity He is really responsible for employing about 20% of the Iraqi labor force, in addition to the growing determination shown by the Iraqi agricultural activity in supporting the basic food security of Iraq despite the water scarcity, and all of this contributed to making the growth rate in the gross domestic product exceed the growth rate of the population, which is A positive indicator in the tendency towards the welfare of society.  

He stressed that “preserving the strength of positive tendencies in the investment spending policy or the so-called (investment accelerators) should take the priorities of the government’s economic approach by sustaining the momentum of procedures and policies that stimulate investment, especially at the level of care in implementing government projects related to infrastructure and previously suspended, As well as supporting the financing activity of the private sector in conducting its investment activities and launching its initiatives without bureaucratic stumbles here and there.  

Saleh considered it “an appropriate opportunity to re-examine the policies and procedures related to encouraging national investment, especially private investment, in one package that helps lift administrative restrictions that are useless to the aforementioned activity and facilitate the business environment with effective government decisions that end in expanding the base of tax flexibility, as happened in the recent cabinet decision and others

And mitigating of all administrative restrictions, as well as adopting the best administrative and executive steps that must be followed in transforming the economic surpluses in the national economy (represented in the strength of the economy’s liquidity) into dynamics that lead to real investment as important financial levers available for use in spending on development and the operation of production factors that lead to sustainability national income growth.  

He stressed, “the necessity of launching a package of measures that encourages civil activity in investment and production immediately with the strong support of the government’s economic policy in everything related to improving the business environment and supporting the sustainability of growth in the national product and with flexible, effective and discreet procedural policies taken by the responsible government sectoral agencies.  link

Source: Dinar Recaps


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