KTFA
Iraq ranks fourth as the best emerging market for investment in 2024 (infographic)
4/9/2024
Iraq ranked fourth in the foreign direct investment rankings and the best emerging markets for investment in 2024.
A study by the FDI Intelligence website, which specializes in foreign direct investment affairs, indicated, “This classification is evaluated based on several criteria, including the growth of the gross domestic product, the inflation rate, the growth in capital spending in foreign direct investment , and the growth rate in foreign direct investment projects.”
He pointed to “a noticeable improvement in the investment climate in Iraq and the efforts made to strengthen the economic sector and attract more foreign direct investments.”
The study explained, “This classification highlights the importance of Iraq as an important investment destination in the region.”
See all charts at link: LINK
Clare » April 9th, 2024
Sudanese government spokesman announces a 50% reduction in external debt
4/8/2024
The Iraqi government announced, on Monday, a 50% reduction in external debt, renewing its determination to continue creating a qualitative shift in the Iraqi economy.
Government spokesman Bassem Al-Awadi said in a statement received by Shafaq News Agency, “As an emphasis from the government on transparency in economic work, and informing public opinion and national and international media of Iraqi economic performance, and in light of the Council of Ministers’ approval of the recommendations of the Diwani Order Committee 23942, related to regulating borrowing.” The government took a series of executive measures and adopted a package of financial decisions that resulted in reducing the external public debt by more than 50%, bringing the debt down from $19.729 billion in late 2022 to $15.976 billion in 2023. “Righting to approximately $8.9 billion this year.”
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He added, “These financial steps (which included stopping a number of borrowing operations due to their delay and unproductivity, organizing and managing debts and auditing them, and restructuring some debts and directing them to create strategic projects) aim to prevent the Iraqi economy from mortgaging obligations that may affect the political decision in the future.” Or in the path of national development, which coincides with an urban renaissance and infrastructure reconstruction, which opens the way to a promising future and a revitalized economy, in which our current and future generations perform best and obtain the greatest opportunities.”
Al-Awadi continued, “The government organized the process of financing cooperation with the international community in specific contexts, including direct productive borrowing, providing sovereign guarantees to ensure the production of projects undertaken by the private sector for the benefit of the government, and sovereign guarantees provided by the government for the benefit of institutions that finance the Iraqi private sector importing production lines for Building factories inside Iraq.
He pointed out that “these steps pave the way towards further integration of our country into the international economic cycle, and for the government to adopt the principle of productive borrowing only, which effectively leads to an increase in the domestic product, and the financing of national service and productive projects with economic returns, in a way that ensures their completion and is not delayed.” .
With these firm steps, Al-Awadi explained, “The government renews its determination to continue making a qualitative shift in the Iraqi economy, in parallel with tangible development in the services, infrastructure, and social care sectors, which are all the pillars required to meet the aspirations of our people throughout Iraq, and implement the government program with its priorities and goals.” “. LINK
Ryan1216 » April 9th, 2024
Powerful article! Bring this home for us all Sudani!
Source: Dinar Recaps
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