TNT
Tishwash:
Strong economy strong dinar
Mohammed Saleh Al-Badrani
Any talk about improvement in any field is theoretical talk that will not produce anything unless stability, social cohesion and a stable security situation are achieved. This matter requires attention to details and loose threads.
Civilization needs foundations to be a platform for advancement, and stability is the basis. It is a general word that includes the societal structure, reform of institutions and administration, and the establishment of an ideology that everyone seeks to achieve through which plans are built, sectors are supported, and prosperity is one of its outcomes.
This requires the advancement of education, support for general culture, and aspirations towards movement without obstructive limitations. Other than this, everything we say or will say becomes mere wishes and desires that have no means or institutions to achieve them .
Stability and the crystallization of the character of the state and its institutions will be built accordingly, and it is the same path of progress that expands and opens up the fields of renaissance by forming the nation and then by forming the stable state.
1. Relying on oil without investing it will not improve the economy or increase the strength of the dinar. Rather, it is an invisible deterioration, and everything that is treated with it is like wood dye that is eaten by termites. For this reason, oil and other resources such as customs revenues and taxes must be invested, not by increasing taxes and exhausting the citizen, but by making it flow in a way that makes the citizen comfortable, so that it is in harmony with the state and its plans and is part of its plan, and the state is not considered a feudal lord or a squire who wants to stray from its paths .
2. Taking care of the countryside and returning people to it with plans, projects, industries and factories for agriculture and raising poultry, cows and sheep to produce meat and other things, with managing the land to grow fodder, and establishing fodder factories in strategic areas, and factories for animal products and canning them. As for the citizen’s return without a plan, it will be a matter whose feasibility will weaken unless capital enters from somewhere as capital for those who have money and find a way to operate it. This will be practical and realistic after stability.
3. Stopping government appointments with the absence of projects and the increase in colleges and universities means producing a cadre that is not good at taking care of itself or doing any work in order to live. It is necessary to establish private projects and companies and the state encourages their stability and facilitates their establishment with the establishment of a retirement guarantee similar to the state retirement system, and thus the momentum for work in government jobs is reduced.
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This may come through partnerships with companies in industrialized countries to localize major factories and food and mechanical industries such as cars and machinery and support them with oil at cost price, in exchange for social care supervised by the state and looked into by the state so that those who work in these companies, facilities or industries are not harmed if one of the companies decides to abandon work. This means establishing contract models that specify the workforce, job positions and expertise and developing them through continuous education .
Regional environment
4. Establishing interest-based relations with the regional environment, and establishing water agreements in a way that realistically looks at everyone’s interests, and through cooperation in water management, investment, and joint planning as management and facilities so that there is no clear gap between desires and reality, and between proposals that have not entered the logical filters, as climate change is likely and to a large extent, but its results cannot be determined, so confronting it today through projects that do not put the country in a state of d---h and are capable of supplying economic and human movement is very important .
5. Desalination of Gulf water and engineering its pumping so that it covers and revives every inch of Iraq, and the rapid transformation to modern and economic agriculture will reduce pollution. The marshes will not be relied upon as water bodies, but rather as tourist investment areas such as winter resorts and fish farms, as is suitable for them.
The dinar and the economy need real work and confidence in the currency is confidence in the economy of the countries, which expresses confidence in the management of the country itself.
What we write here is the salt in the perspective of the reality of the situation, so that the effort of the meetings is not wasted and becomes air in the net, as they say. It is certain that there are specialists in the country, but they should not look at the experiences of others and transfer them as templates. Capitalism is not a fragmentation system, but rather a system that built itself for hundreds of years until it settled in the situation we see, and those who live in it will not see it as an option. Likewise, socialist systems do not have direct scientific applications.
We need to benefit from these systems in making a suitable system successful, as China did, which has a strong economy that does not look at the exchange rate of its currency, but is strong in its global dealings. Perhaps if the countries of the region united to create their own currency and trade, they would gain a position in managing the global economy. All of this requires effort and time, and before that, determination in understanding and preparation and a will to implement link
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Finalizing the approval of the Industrial Investment Law
Today, Monday, the head of the Parliamentary Investment Committee, Muhammad Al-Zayadi, revealed that the final touches had been put in place to approve the Industrial Investment Law within the House of Representatives.
Al-Ziyadi told Al-Ma’louma Agency, “Approving this law will contribute significantly to moving the wheel of the Iraqi economy, as it grants great privileges and guarantees to investors in the industrial sector.”
He added, “His committee held an expanded meeting with the Economic Committee to resolve the disputed points within the law,” noting that “the law, if approved, will reflect positively on the labor market by providing many job opportunities for young people within the country.”
He continued, “His committee has put the final touches to approve the industrial investment law soon in the House of Representatives, as it is one of the important laws.” link
Al-Jawahiri comments on the tax reform process
Development and investment consultant Amer Al-Jawahri said: “The tax reform process currently taking place includes all the empty sectors, and this is very accurate for the Prime Minister in light of Al-Sudani’s meeting with the Supreme Committee for Tax Reform.”
Al-Jawahri Al-Jawahri told Mawazine News Agency: When we say that the state’s public funds and resources have circulated, this means that there is an informal economy in the country.
According to the development expert: “Informal businesses have existed for many years, and they still do, and there is even an expansion that is not included in tax accounting, which means that it is not registered, and is considered informal in this matter, and the other side of the tax reform will take place and will continue.”
He explained: “The use of digital electronic tools and others that exclude human interaction means that perhaps 80 or more than 90% of the work that is accomplished outside the scope of human interaction will be linked. This may save losses. We do not want to pay the numbers, but it is very clear that the losses of the numbers are very large; which took into consideration the size of imports.
He continued: “If we count the size of imports, how much do we earn from tax money? There is a gap in this aspect, and eliminating c--------n is not easy, and c--------n is not only about the leakage of money and loss, which means depriving the public right of its rights and at the same time the money goes into pockets, and people get rich at the expense of society.
He pointed out: “This money goes to services, but at the same time, this achieves, in one way or another, the rule of law, and also achieves, a relative improvement in the business environment, and this improvement when added to it, an improvement in other aspects, while he stressed that working on it in the business environment, then, we can say, there are things that encourage local capital for direct investment.
He continued saying: “May we be drawn into it, and attract capital or foreign direct investment, this is the entrance or angle that I want to enter from the side of what the Iraqi government aspires to.
Al-Jawahiri urged everyone to support the tax reform process despite the existence of harsh and severe opposition, veiled and covered with large veils and beautiful veils, which will try to put obstacles in front of the implementation of tax reform, which increases with the country’s resources or the general budget. Improving public resources means that the state and successive governments are able to spend on improving the service reality and infrastructure of the country, the most important of which are the health, education, security and municipal sectors. link
Source: Dinar Recaps
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Tishwash:
Economist: Government Fails to Secure Necessary Investments to Finance ‘Development Road’
Economic expert, Ziad Al-Hashemi, revealed on Monday that the government failed to secure the investments required to finance the development road project.
Al-Hashemi stated in a post on his personal Facebook page, followed by “Al-Eqtisad News”, that “the first v----m of the failures of the Development Road Project – news of the dismissal of the Director General of the Iraqi Railways, who boasted in one of the meetings with me that he had a feasibility study for the Development Road Project that included 27 volumes.”
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He added that “it seems that the internal differences and problems related to the method of managing the Development Road Project file have begun to appear on the surface in the form of dismissals.”
Al-Hashemi stressed that “the government’s failure to secure the necessary investments to finance the project revealed many flaws in the way this project is managed”
and considered that “as a quick and logical solution, the government should focus on extending and establishing the land highway linking with Turkey and postponing the railway line until the conditions are right to truly launch the wheel of development.” It is noteworthy that the Minister of Transport, Razzaq Muhaibis Al-Saadawi, dismissed the Director General of Railways, Younis Khaled Jawad, and appointed Jabbar Aliwi Lahis as his replacement link
Prime Minister’s Advisor Announces New Tax Reform Packages to Be Launched Soon
The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, announced on Monday the most prominent government steps to maximize non-oil revenues, while indicating the imminent launch of new tax reform packages.
Saleh said, as reported by the official news agency, and reviewed by “Al-Eqtisad News”, that “one of the basic principles of the government’s program in the field of financial reform, which was approved by the Council of Representatives in October 2022, is maximizing non-oil resources in the general budgets of the Republic of Iraq, as quantitative targets were set for them so that their contribution to the total revenues generated by non-oil economic activity would increase to 20 percent instead of their historical rates that do not exceed 10 percent in the best of cases.”
He added, “Diversifying non-oil revenue sources and maximizing them in public budgets is one of the biggest reform challenges in the financial and economic fields in the country.”
He pointed out that “these challenges come from two main factors: the first is the degree of connection between the diversification of budget resources and the success of diversification in the country’s gross domestic product, especially the three sectors of agriculture, industry and services.”
He explained that “the oil production sector still dominates a percentage of the components of that gross domestic product, which sometimes reaches 60 percent, which gives the national economy a rentier character and direct coexistence with the financial flows provided by the oil resource, mostly without anything else.”
He added, “The second factor of these challenges is related to non-governmental activity in generating the gross domestic product, and we mean specifically the activity of the market or the private sector.”
He added, “The majority of economic forces generating income and wealth within market activity conduct their economic activities within the framework of what is called the ‘shadow economy’, which are ‘grey’ markets that are not regulated and are not known to the regulatory, tax and banking authorities as is commonly known, and their percentage amounts to about 70 percent of the total private sector activity in the country.”
He stressed that “the grey or shadow markets are one of the most important factors causing the decline in non-oil revenues in the country’s general budget components.”
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He pointed out that “the first step taken by the current government to maximize non-oil revenues began with adopting a new approach to tax reform,” noting that “the Council of Ministers approved earlier this year 8 new packages to reform the country’s tax system, led by the principle of expanding tax bases, especially those that are hidden, evading or neglecting annual tax accounting.”
He stressed by saying: “Two tax reform packages have been launched, and the remaining packages will be launched sequentially and gradually within the government’s reform policy in the financial field and maximizing the state’s resources from sources of income and wealth outside the oil sector, as this is accompanied by administrative and legislative reform and high-precision digital governance of tax institutions in the areas of assessment and collection with high transparency and efficiency link
Source: Dinar Recaps
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