Fri. AM TNT News Articles 11-26-21

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TNT

Tishwash:
Iraq and Turkey are discussing opening bank branches and facilitating private transfers for residents

The Governor of the Central Bank of Iraq, Mustafa Ghaleb Mikhaif, discussed with his Turkish counterpart Shihab Kavucioglu, in Istanbul, the development of banking and financial relations between the two countries.

Makheif said in a statement during his meeting with his Turkish counterpart, “Our visit aims to develop banking relations between the two countries, support the opening of branches of Iraqi banks in Turkey and open mutual accounts, in a way that contributes to the development of trade relations between the two countries on the basis of reciprocity.”

The Governor of the Central Bank called on his Turkish counterpart, to “provide facilities to Iraqi banks in a way that facilitates the settlement of the trade balance between the two countries and the transfer of funds belonging to Iraqis residing in Turkey.”

For his part, the Governor of the Central Bank of Turkey praised “the efforts made by the Central Bank of Iraq in developing the national economy, stressing that it is ready to open the doors of cooperation and facilitate banking operations between the two countries.  link

Economist: Huge budgets and large revenues lack economic solutions and face corruption

The economic expert, Basem Jamil Antoine, stressed the lack of huge budgets and large revenues for solutions.

Antoine told Al Furat News that “there are huge budgets and large financial revenues, but we do not find any economic solutions for the country.”

He added, “As well as the spread of economic problems and the large spread of unemployment, and huge numbers of citizens below the poverty line.”

Antoine pointed out, “a great paralysis afflicts the productive and tourism sectors, caused by a waste of public money and widespread corruption in all parts of the state.”
The Iraqi Ministry of Finance revealed that it had started preparing the 2022 budget, which it described as “reformatory” that faces “the reality of Baghdad’s obligations.”

For his part, the economic advisor to the Prime Minister, Mazhar Muhammad Salih, revealed the completion of the draft budget for next year, explaining that the budget will include a hypothetical deficit that will be paid from the funds of the oil price difference. 

He pointed out that the draft 2022 budget was completed, but it is not discussed in the Council of Ministers, because the current government in the conduct of business developed, pointing out that the budget will be presented to the next government are installing observations on them, and then turned to the House of Representatives. “

And that passed will be after The formation of the new parliament, adding that “the Ministry of Finance has set, according to the upcoming budget, 50 dollars per barrel of oil, and the rest was considered as a hypothetical deficit to be paid from the differences in high oil prices.”  link

Source: Dinar Recaps

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