.KTFA Members "News and Views" Monday AM 5-29-17

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.KTFA Members "News and Views" Monday AM 5-29-17

Post  Admin on Mon May 29, 2017 4:41 pm



Frank26:  To those and their Families that have served to protect our Nation .............. Thank You !!!

Don961:  URGENT Federal Court postpones appeal in the budget of 2017 to next Monday

History of edits:: 2017/5/29 13:02 • 112 times readable
[Oan- Baghdad]

Federal Supreme Court postponed the decision on the appeal against the government financial budget for the year 2017 on Monday , as the next three experts in the field was elected budgets to report Bhonh..itba


VSDK:  Would somebody be kind enough to explain to me what the appeal in the budget means? Is it an adjustment to the numbers or something like that?  

2BERDS:  VSDK When the budget was voted some months ago there were additional amendments that were added to the budget that were illegal. The way that Abadi decided to deal with that was to have it brought through the court system. IMO it is not dealing with the numbers that the GOI had in the budget, but only the amendments that were added to the budget.


Don961:  URGENT Abadi arrives in Mosul

History of edits:: 2017/5/29 15:19 • 21 times readable


arrived Prime Minister and Commander of the Armed Forces Haider al - Abadi to the city of Mosul to inspect the pieces of our heroine ... follow


URGENT Abadi meet a number of leaders of the popular crowd in Mosul

History of edits:: 2017/5/29 16:15 • 38 times readable


he met with Prime Minister and Commander of the Armed Forces , Haider Abadi , a number of leaders of the popular crowd and discussed with them the course of editing operations follow ..


Don961:  Soon in Iraq ..qanon to regulate commercial agencies

Journal May 29, 2017    BAGHDAD - The Journal News

Confirmed the Iraqi Federation of Chambers of Commerce, said a few days separating the approval of the Council of Ministers in Shan law works to control and regulate the mechanism of action of commercial agencies in Iraq.

The head of the Union, Jaafar al-Hamdani, for "Journal News" on Sunday that the deal spread of commercial proxy, has led to an increase in the number of those involved in this area, and has become the practice of business agencies, one of the most prevalent in the commercial sector business. "

He added that al-Hamdani, "the creation of the work of commercial agencies within Iraq's regulatory environment creates the need to create a modern organization of commercial agency law after the expansion of the productive activity and service institutions to carry out its activity, which extends to the rest of the world."

"There are efforts by the Council of Ministers to approve the commercial organization of the agency, as is known, this law aims to regulate the commercial work of the agency exercised in Iraq and the agent for the benefit of a natural or legal person from outside Iraq."

He explained that "this new legislation will contribute to the organization of work within and create a market culture by meeting development goals and to move the economy towards the development of flowers, Iraq is currently open to all countries of the world trade in addition to having a lot of discreet international companies which have dealings inside Iraq, for example, My company (Sameenz German LG Korean). "

He pointed out that "the organization of the work of commercial Aleclaat in Iraq, certain laws working to define the rights and duties of both individuals and institutions and monitor the activity of commercial agents and is the beginning of a move to regulate various aspects of the Iraqi economy."


Don961:  Iraq will resume its negotiations with the International Monetary Fund next Wednesday in Amman

 05/29/2017 - 14:46

According to the source of an official in the government of Iraq, Monday, that Iraq will resume its negotiations with the Fund Monetary International Wednesday next in the capital of Jordan Amman to discuss the agreement of cooperation credit , which was signed in the year 2015 .

Said the source , who preferred not to disclose for his name 's " economy News " , that " the delegation of Iraq , headed by the Minister of Finance Agency Abdul - Razzaq al- Essa will resume Wednesday next talks with the Fund for Monetary and Bank International on an agreement of cooperation credit , which was signed by Iraq in the year 2015 to get a loan of 3 billions of dollars an interest rate not exceeding 2% . "

He added that " the delegation of Iraq includes the Governor of Bank Central Ali Keywords and adviser to Prime Minister for the affairs of the financial appearance of Mohammed Saleh and officials in the ministries of oil , finance and planning ."

Finally , the delegation of Iraq on 26 Nissan's 2017 talks with the Fund for Monetary and Bank International in the meetings of the spring , which lasted for days in the capital of America and Washington .

The chancellor's financial Prime Council of Ministers, the appearance of Mohammed Saleh,  described in  24 Nissan 's 2017 talks , Iraqi with the Fund Monetary international positive, stressing that the reserves of international Iraq is still within the level of security, adding to the Bank of International promised to support programs and financing for the advancement of infrastructure infrastructure and re - construction


Don961:  Alnasiri determines the vision of the economic and financial reform in the peace and stability stage
23 hours ago  Khalk: Salah Papin

said an expert in the financial and banking affairs and adviser to the Iraqi Association of private banks Samir Nasiri in an exclusive interview with Khalk media network, said the Iraqi government despite the economic conditions critical, succeeded in developing a court economic plan this year to cope with the economic crisis over by Iraq , especially after falling oil prices to the unexpected level by an estimated 70% from the beginning of the year 2014, stressing that the international Monetary Fund contributed to the development of the economic plan for Iraq to cope with the current crisis, especially with regard to economic and financial reform for the current year program.

Nasiri pointed out that the recovery of the Iraqi economy indicators began to appear after the relative rise in global oil prices during the period from the beginning of the current year to the day, especially during the current month, adding that oil prices began to rise this month after the implementation of the OPEC agreement to cut production and reduce supply in the market oil in the world.
Khalk: After falling oil prices and the near completion of the war with Daesh .. Where is heading the Iraqi economic?

Alnasiri: The Iraqi economy economy rentier depends its resources on oil constitutes 95% of the total annual revenue and up to (55-60)% of GDP, so when oil prices fell in the global market economy dramatically affected and got the financial and economic crisis and economic recession, but we have not gotten to the recession or economic collapse, because of Iraq in which the elements of economic construction and is available water, labor and other natural resources, such as gas, sulfur and other minerals, and sound economic planning and reliance on Iraqi competencies in the management of economic institutions and reduce Administrative and financial corruption and the involvement of the private sector in economic decision - making, will save the economy from collapse and that the decisive victory over the Daesh will transfer the Iraqi economy to a new stage is the national economy building in the restoration of peace and stability phase and will recover the economy as planned by the government in cooperation with the International Monetary Fund and the World Bank .

Khalk: through economic data and indicators on the ground. How do you expect to be the Iraqi economy in 2018.

Alnasiri: In order to enable the Government to diversify resources and reduce dependence mainly on oil in 2018 we suggest the following:

1. support the private sector and a contract with a partnership in the implementation of development and investment of large projects and this means involving them in decision - making in the economic management of the economy. 

2_ activate reportedly axis (III) of the government program and private (encouraging the shift to the private sector) and other materials for the development of banking and other economic sectors to secure soft loans to him to finance productive projects in agriculture, industry, tourism and services.

3_ agricultural sector development and securing agricultural land arable and secure fertilizer, seed and private sector involvement and operation of the graduates of agricultural colleges and institutes unemployed that are allocated percentage of imports to the private sector, workers and similar to the experiment carried out by Egypt.

4_ establish a bank to finance small and medium - sized enterprises in which private banks and the private sector contributes 75% and the public sector by 25% to be managed with the mentality of the private sector and the mechanisms of the market economy.

5_ restructuring of the industrial sector in particular civil industries, factories , public sector productivity and laboratories and private sector involvement in the management of the work of self - financing and support national production and stop the import of all goods locally and work produced in accordance with the principle of (import complement to domestic production rather than a competitor to him).   
6_ attention to the tourism sector and the development of its facilities in tourist areas and focus on religious tourism, which had been given the required attention, will provide an annual income guaranteed by the budget and good.
Khalk: Why did not the private sector to play its role in building the economic process in Iraq?

Alnasiri: the reasons why there is no role for the private sector in the economic process are: -
1. The legal environment governing the participation of the private sector in the process of economic failure. 
2_ because of the lack of security and stability migrated most of the capital out of Iraq.

3_ administrative and financial corruption forced the private sector not to participate in the implementation of projects inside Iraq.

4_adm Clarity economic approach strategy in Iraq , did not identify a clear role for the private sector in the economic process.            

Some of the owners of capital
5_ in the private sector are looking for a quick profit and aim to contribute to economic development. 
6_ no one represents the private sector in a real and multiplicity of associations and organizations representing the private sector , a non - uniform goals and orientations.
Khalk: What are the economic reforms that could contribute to the recovery of the financial situation after Daesh? .

Alnasiri: that the economic reforms required by the government to overcome its financial crisis, he suggested the following:

First , review, evaluation and re - structural and institutional system of the economy building, as follows:
a. The establishment of (Economic Council) is linked to the Council of Ministers and the wide participation of government experts and private sector professionals, specialists and technocrats The strategic planning of the economy and to identify operational policies and follow - up and monitoring of implementation shall be issued by law committed by the ministries and all institutions and sectors of the state and its decisions are binding force after the Cabinet approval.

B. The Economic Council to re - examine the income and expenditure and the budget deficit in 2016 and preliminary indicators for the budget of 2017 after taking into account the developments in the world oil prices and changes in the global economy and conditions of objectivity and subjectivity surrounding Iraq and make the necessary adjustments to the budget after the initial public opinion and listen to the observations of experts and specialists of non - governmental before sent to Congress.

T. The establishment of ( the National Provident Fund) is linked to the Ministry of Finance and are imports all oil imports resulting from the increase in oil prices is higher than expected in the budget and non - oil revenues and not included in the budget and the registration of all additional imports due to improved oil prices, subsidies and international assistance or the United Nations assistance or It is given to the Fund 's austerity measures and reduce government spending in all its forms.

W. ( The establishment of the Supreme Commission for Import and Investment) and linked to the Council of Ministers and the form of cadres and experts technocrats in import affairs and investment contracts of various terms of reference and the Authority shall prepare the curriculum the import of the ministries of state and the private sector in the light of the allocations earmarked and the actual need to encourage national industry and encourage national capital owners to carry out investment projects in Iraq to withdraw all the powers of the gentlemen of import and the signing of contracts and ministers granted to this body.

C. Stop the import of all materials , consumer goods and entertainment this year and the sufficiency of them in the asset markets within the country.

H. Promotion and promotion of national goods and adjust the process of imports of goods and apply similar controls of quality control in accordance with the Iraqi standard and the support of the certificate of origin and the application of tariffs and customs duties law.

X. A review of tax policy and customs duties in a comprehensive manner as in line with the new economic approach.

Dr. (Establishment of construction National Council) of experts, technocrats and specialists and take ages to cities affected by the process because of the war with Daesh gangs and infrastructure , master in Baghdad and the provinces according to a central plan for the reconstruction approved by the Council of Ministers shall issue a law approved by the House of Representatives and thus withdraw all the contractual powers of the reconstruction projects of provincial councils and limit the customizations exclusively council above.

Y. The establishment of (Public Service Board) shall coordinate with the Ministry of Planning and the Ministry of Higher Education and Scientific Research to set graduates of Iraqi university students in public functions centrally and distributed according to the needs of ministries and departments and government institutions as decided vacant degrees in the general state budget.

Second , re - review and evaluation of the financial and monetary policies applications.

1_ the Central Bank and Ministry of Finance analyzed the financial position of the current banks are expected for the year 2016 and to determine the actual need for liquidity to sustain cash trading in the Iraqi market and stimulate the economic cycle in all areas and to develop a proactive plan to prevent bankruptcy and the collapse of some banks and sustain the banking wheel under the current circumstances and the use of mechanisms and tools new applications for monetary policy.

2_ modified banking legislation in Iraq , which regulates the banking business to advance the reality of the banking and in particular the Central Bank Law No. 56 of 2004 and the Banking Law No. (94) of 2004 and the Law of Companies Registration No. 21 of 1997 and the law of the Iraq Stock Exchange No. 74 of 2004 and activating the money laundering Act and the new investment.

3_ version SMEs Act size and small to help and create new employment opportunities and reduce poverty and destitution and contribute to the economic and social development plans and to reduce high unemployment , which exceeded 28% of the issuance of the Deposit Insurance Act and the credit guarantee loans and the establishment of professional companies to do so.

4_ activating the role of government banks and specialized banks and civil banks to provide soft loans to the private sector and the national as well as finding solutions to the problems of accumulated taxes and benefits resulting from the stalled production solutions for entrepreneurs.

5_ develop short- and medium - term fiscal policy based proactive monitoring and review and evaluation that is continuous coordination between the fiscal and monetary policies and the development of operational mechanisms in this area.

6_ secure legal and technical requirements for a twinning and wide - ranging between government banks and private banks on the one hand and between the international banks on the other hand , in order to develop the banking and modernization of the payments system and the regulation of the financial and monetary where trading operations according to the latest applicable modern electronic banking systems in the countries of the world.

7_ review and evaluate and re - classification of banks in accordance with the performance standards of efficiency and the adoption of activity - based international standards that we review and evaluation process certified international neutral accounting institutions and under the supervision of the Central Bank of Iraq.

Khalk: Internationally, that the future of oil is going to change with political visions and strategies for the vast international control of the general political situation in the world?

Protagonist: The future of the global oil market during the second half of 2017 and in the light of the expectations of OPEC in the case of the commitment of producing countries ceilings agreed for a period of nine months to come will raise the price to $ 60 a barrel , and at that Iraq will be able to bridge the deficit in the budget for the year 2017.

Khalk: After taking Trump's US presidential successor to Obama, and as everyone that Trump is a man and a great economist knows business. What do you think will add Trump on the global economic reality, or rather you will be Trump negative factor on the global economy, especially in the oil sector? "

Alnasiri: The outlook for the stage of Trump is still not clear features economically despite the lack of commitment Boutrouhath during his election campaign in foreign relations America with some countries of the world , but which must count on it Kaaracaon is that we believe in our ability to achieve a decisive victory over terrorism and move Bagnsadna from rentier to productive and work with OPEC to reduce production ceiling as reflected in the improved prices globally and move to Stage reconstruction and diversification of sources of non - oil revenues and reliance on private sector involvement in the leadership of the market and do not look at what he says and plotting his Trump and others.



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