From Iraq’s News
Because Of The Interest Rate Hike, The US Economy Will Enter A Recession
The CEO of Trade & Working Capital, Behs Baghdadi, said that the US economy will enter a recession, due to the Federal Reserve raising interest rates at an accelerating pace, expecting signs of weakness to appear on the largest economy in the world, during the last quarter of this year.
Baghdadi also expected, in an interview with Al-Arabiya, that the great shock to the US economy will be during the first half of next year, with the high unemployment rate.
On the other hand, Baghdadi pointed out that the problem of the Chinese economy is different from what the American economy suffers from, explaining that China does not face an energy problem with its acquisition of a large proportion of Russian oil exports, in addition to the fact that the low prices of raw materials will help China to combat inflation. 25 riyals link
An Iraqi government delegation arrives in New York
The Minister of Planning, Khaled Battal Al-Najm, has arrived at the head of a government delegation to New York, to participate in the work of the high-level political forum of the United Nations, which will last for several days.
The Iraqi delegation included the Director General of the Regional and Local Development Department Muhammad Mohsen Al-Sayed, the Director General of the Regional and Local Development Department Maha Abdul Karim, in addition to Iraq’s permanent representative to the United Nations Muhammad Bahr Al-Uloum.
The first day of the forum witnessed the participation of the Iraqi delegation headed by the Minister of Planning in the first inaugural session which was held in the United Nations General Assembly Hall, with the participation of the heads of delegations of the participating countries.
On the other hand, members of the Iraqi delegation participated in a number of sessions and events that are held on the sidelines of the annual high-level political forum of the United Nations.
It is hoped that Minister of Planning Khaled Batal Al-Najm will deliver Iraq’s speech on the second day of the forum, during which he will review a number of important economic and development issues.
Al-Kazemi: World Bank indicators confirm that Iraq has passed the economic crisis in a very short time
Prime Minister Mustafa Al-Kazemi said, on Thursday, that Iraq is not part of any axis or alliance in the region, and that the Saudi conference will address the files of economic cooperation and the updates that resulted from the Corona pandemic and the two crises of food security and climate change, while noting that the indicators of the World Bank confirm that Iraq has passed the crisis. Economic “in a very short time”.
Al-Kazemi said during his meeting with a number of journalists and media professionals, according to a statement by his media office: “I put you in the atmosphere of the invitation that we received to participate in the Saudi conference, in the presence of the Gulf Cooperation Council, Iraq, Egypt and Jordan, in addition to the United States of America. The conference agenda will discuss cooperation in the fields of economy, And energy, and the challenges brought about by the Corona pandemic, the food security crisis, as well as climate change.”
He added, “The other talks about the summit’s goals are an attempt to confuse, and are absolutely untrue, and they are an attempt to distance Iraq from the prominent role it plays in the region, and for this government to carry out its tasks in serving the people, and attracting investments and support for the benefit of Iraq.”
He explained, “We are going to the conference in the Kingdom of Saudi Arabia, and we focus on the file of water and climate changes, and partnership in the issue of energy and electrical connectivity, as well as economic partnerships, and joint investments, and all of this is good for the Iraqi people, and great support for investment projects in Iraq.”
He continued, “It is this role that gives Iraq an opportunity for investment, cultural exchange, education, and health. The world has changed many of its concepts after Corona, and the security and defense strategy has become health, education, and industry. It is unreasonable for our strategies to remain based on illusions and mistrust.” And stay away from cultural commons.
He said: “Iraq has found itself in cooperation and coordination, and in projects that concern the citizen’s service; for this we brought a group of large investments in Iraq, and as a result, we were able to bring in large sums of investment, which was reflected in huge projects.”
He continued, “This government came in a difficult economic circumstance and we crossed it, and the economic indicators from the World Bank confirm that Iraq succeeded in a very short time in crossing this crisis, and we presented a vision for economic reform represented by the white paper.”
He stressed that “Iraq today is one of the countries most affected by climate change, and we need the help of others, and for this we have taken a decision to cooperate with our brothers and friends in overcoming these challenges link
Source: Dinar Recaps
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