Sun. AM TNT News Articles 2-13-22



In the document. the Federal Court decides that Saleh will continue his duties until the election of a new President of the Repoblic

The Federal Supreme Court decided that the President of the Republic, Barham Salih, would continue his duties until the election of a new President of the Republic.

The court’s decision comes after the cancellation of Hoshyar Zebari’s candidacy for the presidency at the present time and the non-acceptance of his candidacy in the future “due to the lack of conditions stipulated in Article 68/Third of the Constitution of the Republic of Iraq for the year 2005 due to the parliament’s withdrawal of confidence from him when he was Minister of Finance.”   link

The Head Of A Bloc Reveals Parliamentary Efforts To Restore The Dollar’s Exchange Rate Against The Dinar

The head of the Sabean-Mandaean Parliamentary Bloc, Osama Al-Badri, revealed, on Sunday, that the House of Representatives decided to return the exchange rate of the dollar against the dinar to its previous era due to the damage to the citizen, indicating that restoring the exchange rate of the dollar against the dinar greatly harmed the market.

Al-Badri said in a statement to / the information / that “there are parliamentary moves to return the dollar exchange rate to its old price due to the high inflation.”

He added, “The issue will be raised during the upcoming sessions, as it is a popular demand, and that the only victim is the poor citizen.”

Al-Badri indicated that “the House of Representatives will put pressure on the competent authorities and decision-makers in order to return it to its old price.”

The economic expert, Kovind Sherwani, confirmed in a previous statement to Al-Maalouma the government’s ability to reduce the price of the dollar and return it to its previous price.   link

Economist: We cannot benefit from high oil prices if the 2022 budget is not approved

The economic expert, Nabil Al-Marsoumi, said today, Sunday, that Iraq cannot benefit from the rise in oil prices in global markets because there are many indications that the 2022 budget has not been approved.

Al-Marsoumi said in an interview with Earth News, “The global market today is witnessing a significant increase In international oil prices, Brent crude reached about $95, and the rise in oil prices will certainly reflect positively on the oil-producing country, including Iraq.”

He added, “We noticed last January that Iraqi oil revenues increased to more than eight billion and 250 million dollars, which is a large number that is expected to increase in the coming months of this year, especially since all expectations indicate that the issue of oil reaching the hundred dollar barrier or perhaps breaking this The number is in light of the positive expectations in the global oil market, and this will reflect positively on Iraq, and Iraq will achieve significant financial revenues this year, perhaps exceeding 120 billion dollars.”

Al-Marsoumi continued, “It is assumed that with the increase in Iraqi oil revenues, this increase will reflect positively on the Iraqi people in the direction that leads to improving the quality of life of citizens, providing them with basic services and seeking to find the necessary ways to create job opportunities for the Iraqi citizen, especially the number of unemployed people in Iraq is more than three million people. “

He added, “We also hope that it will be reflected in the level of the ration card items and other basic services such as health and education, and that officials will think well about the need to build a sovereign fund in which part of the oil revenues can be saved in order to face future shocks or crises.”

The economic expert added that “there is an important part of the additional oil revenues (ie, the achieved oil benefits) this year in order to build an investment fund that can build many investment projects in Iraq or complete the existing ones, especially the great port of Faw and the dry canal.”

He stressed that “but what hinders such an approach is the absence of a budget in Iraq for 2022, and all indications and all indications indicate that the budget is not approved before the middle of this year, and perhaps there will be no budget in this year, and when there is no budget, the exchange is according to the law.” Iraq’s financial management on the basis of 12/1 for the previous year.”

And he indicated that “there will be no new investment projects and there will be no expansion in operational spending, appointments, bonuses and promotions will stop, and investment projects will stop, and therefore we count on politicians the need to end disputes and conflicts to prepare the budget because this is the only way to serve the Iraqi people.”   link

Source: Dinar Recaps

The supposed path of economic reform (2/13)

There has been much talk about the paths of economic reform in a country rich in its wealth and poor in its services. Isn’t it time for correction? Let us draw an acceptable picture of a supposed and expected change in the course of economic reform, in a way that we can remedy the collapses that the country’s economy is facing due to the absence of rational performance in managing the economic file.

One of the priorities required to achieve a clear path of economic reform is to ensure that the next government’s program includes direct institutional building through the selection of a ministerial cabinet that includes competencies and specializations capable of implementing the requirements of sound institutional building and restructuring the state’s departments by placing the right man in the right place.

Institutional building requires serious laws that do not allow any decisions and procedures that hinder this structure, and these laws are among the duties of Parliament. Moreover, one of the requirements of reform is to reduce luxury expenditures for ministries and other institutions, including ineffective diplomatic missions. 

This is what concerns an aspect of the administrative reform that must be achieved in advance and a correct start to restructuring government institutions and building them again according to specializations and placing the right man in the right place. The main task that the prospective government is supposed to undertake is to adopt clear policies in managing public money and eliminating waste and corruption by supporting and activating regulatory institutions, especially the acclaimed Financial Supervision Bureau. It is useful here to point out that the current oil prices are encouraging to move towards a new path of reform through the development of a solid plan to revitalize and activate economic activity aimed at diversifying sources of income, and I think that this relates to revitalizing the productive sectors. 

The financial abundance achieved as a result of the high oil prices requires directing part of it to enhance investment allocations while not expanding operating expenses, in addition to creating sovereign investment funds, in order to achieve the goal of properly managing money and achieve the desired development goals. 

One of the challenges that the next government and parliament will face is how to deal with the advancement of human resources, by modifying the educational path and health services, in order to respond to the changes and requirements of the new era that occupies the entire world. Perhaps the experience of Singapore in correcting the course of its economic reform is the best example to be followed, which through these concepts (ie setting priorities) has managed to become the third richest and advanced country among the world’s countries in various fields, so it is necessary to benefit from its outputs.  link

Source: Dinar Recaps


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