Fri. PM KTFA News Articles 9-23-22

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Samson » September 23rd, 2022

Al-Kazemi expects an increase in Iraq’s cash reserve, and it will reach $100 billion

23rd September, 2022

The Iraqi Prime Minister, Mustafa Al-Kazemi expected, on Friday, to increase the country’s cash reserve to reach $100 billion.

Al-Kazemi said in an interview with the state media before giving a speech at the General Assembly meeting in New York, that “the white paper succeeded in achieving economic reform.”

And he added, “The cash reserve under our government has reached 68 billion dollars, and it is expected to increase to 100 billion dollars.”

Al-Kazemi stated that Iraq has achieved the largest and fastest economic growth and has become the first in the Middle East and fifth in the world.  LINK

Al-Kazemi: Changing the dollar exchange rate against the dinar is the most successful decision

23rd September, 2022

Prime Minister Mustafa Al-Kazemi confirmed that changing the exchange rate of the dollar against the dinar is the most successful decision taken by his government

Al-Kazemi said, in an interview with Al-Monitor, which was followed by “Al-Iqtisad News,” “We reached a point where we were unable to pay the salaries of employees and retirees, but thanks to the white paper, the Iraqi economy will witness reforms

He added that my government agreed to implement projects such as the port of Al-Faw, the construction of solar power plants, the investment of gas associated with oil production, and the construction of 1,000 schools

He explained that the Central Bank’s reserves rose from 49 billion dollars to 86 billion dollars, and changing the dollar exchange rate was one of the most successful decisions we took   LINK

The Iraqi Stock Exchange seeks to trade government bonds

23rd September, 2022

The Iraq Stock Exchange announced its quest to attract investment and trading in government bonds.

The Executive Director of the market, Taha Ahmed Abdel Salam, said, on the sidelines of the market signing, the custodian license contract, with the aim of facilitating investment in the securities sector.

“This step aims to attract more potential and concerned investors who wish to trade in the Iraqi Stock Exchange, shares of joint stock companies and bonds. government in the future.  LINK

Iran: Iraq will turn into the largest economic market in the region during the next decade

23rd September, 2022

The head of the Iranian-Iraqi Joint Chamber, Yahya Al Ishaq, expected on Friday that Iraq will turn into the largest economic market in the region during the next decade, especially for Iran, stressing that his country seeks to increase the volume of trade exchange with this neighboring country.

The Iranian official attributed, in a statement carried by the semi-official Iranian news agency “Fars” today, the reason for the decline in Iran’s exports to Iraq during the past two months due to the export of gas and electricity to this country, explaining that given the talks that took place between the two countries, this issue should be resolved.

He added that in addition to the decline in the volume of Iranian exports to Iraq, we also witnessed an increase in the export of non-oil goods to this country, and we hope that our exports to Iraq will reach 10 billion dollars by the end of the current Iranian year (ending March 20, 2023).

Al Ishaq considered the Iraqi market to be a strategic market, and he expected that the percentage of exports to this country would rise during the next few months, especially as trade exchanges with Iraq could reach $20 billion within the coming years.

He also said that, during the next 10 years, Iraq will turn into the largest economic market in the region, especially for Iran. He saw that Iraq is not a weak country in economic terms, as it exported 11 billion oil last month only and intends, according to the planning of its program, to obtain 120 billion dollars this year.

The Iranian official added that, given the conditions that prevail in Iraq due to the conditions in which it lived due to the war and other issues, it has become lagging behind in the areas of production, infrastructure, electricity, gas and roads. Iraq, as Iranian economic activists should take advantage of these opportunities in the best possible way.  LINK

Parliamentary Integrity: We are back to ground zero after our files in Parliament were stolen and burned

23rd September, 2022

A member of the Parliamentary Integrity Committee, Ali Turki Al-Jamali, confirmed today, Friday, that 

Al-Jamali told Al-Maalouma, “Parliament is witnessing a deliberate obstruction of its sessions by its president, who argued that the technical situation of the parliament building does not currently allow sessions to be held despite the demands that they be held.”

He added, “The Parliamentary Integrity Committee was one of the first committees to take the initiative to go to the parliament building after the end of tensions inside the Green Zone in central Baghdad.”

And he indicated that “the committee found that all its files, priorities and papers affiliated with it had been destroyed, burned and stolen as well, and therefore the committee returned to zero, with the exception of what remained of some papers that some members managed to put under the hand, as the blood is recent as a result of entering to the council and tamper with its contents when storming the Green Zone.”  LINK

Including Arab .. List of the richest countries in the world

09/23/2022 00:20:02

The global wealth report showed a decline in wealth growth in 2021 due to the difficulties faced by the global market environment during the past months.

The Credit Suisse Institute published its 13th Global Wealth Report, which shows the continued growth of wealth in the United States, Canada and China and its decline in other regions. The report found that wealth grew at a strong pace in 2021, and by the end of the year, total global wealth amounted to about $463 trillion, an increase of 9.8 percent. However, the report notes that factors such as inflation, rising interest rates and declining asset and real estate prices could affect the gains made in 2021.

The report says that most parts of the world contributed to the increase in global wealth, but North America and China dominated that increase, with North America accounting for just over half of the global total, and China accounting for nearly a quarter.

In contrast, Africa, Europe, India and Latin America combined accounted for only 11.1 percent of global wealth growth, while growth was only 1.5 percent in Europe.

According to the report, the most important development in 2021 was the large-scale and significant gains in stock prices.

Shares rose in about 31%, followed by France (28%), the United States (23%), Italy (23%) and Canada (22%). 

Elsewhere, share prices rose by more than 30 percent, such as Austria, Sweden, Saudi Arabia, Vietnam and Israel, and by more than 40 percent in Romania, the Czech Republic and the United Arab Emirates.

The report also indicated that the number of people owning one million dollars or more rose by an additional 5.2 million members during 2021, and their total number reached 62.5 million people worldwide by the end of the year.

The United States ranked first in the number of millionaires with 30,470 millionaires, followed by China with 5,200 millionaires.

According to the report, Switzerland ranked first in the list of average wealth for the year 2021, followed by the United States and Hong Kong, and for the Arab countries, only Qatar appeared in the list at 39th.

LINK

Source: Dinar Recaps

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