" Hoy, Argelia, Comoras, Irak, la República Libanesa, Libia, Somalia, Sudán y la República Árabe Siria están en proceso de adhesión al Artículo XII..."
Ocho países se adhirieron ayer a la OMC. Irak fue uno de ellos. Está en el sitio web de la OMC. La reunión de la OMC finaliza el 29 de febrero. ~ acebo
Diversifying Iraq's Economy And Combating Corruption Is A Path Towards Sustainable Economic Growth
Posted On 02-27-2024 By Sotaliraq Translated by / Hamed Ahmed A report by Frontier Post, the economic website, pointed out that the elements for the prosperity and growth of Iraq’s economy in a sustainable manner lie in several main factors, the most important of which is diversifying the sources of the economy, combating corruption, enhancing confidence in attracting investments, and strengthening the private sector, which helps the country reduce its dependence on oil towards a more prosperous economic future.
The report indicated that the Iraqi Parliament, in its drive towards achieving development in the country, voted last year on a record budget for a period of three years from 2023 to 2025, with a total value of approximately 198.9 trillion Iraqi dinars ($153 billion), which will provide funding for important infrastructure projects.
Long years of neglect and lack of investment have called for an urgent need to rebuild dilapidated infrastructure and repair and modernize necessary service facilities such as roads, bridges, schools and hospitals.
The report states that by giving priority to the development and development of infrastructure, the country is preparing a launching pad towards economic prosperity and providing room for the private sector that would provide job opportunities that contribute to the process of economic growth.
Another important aspect that the report pointed out is the government’s strict approach towards an anti-corruption campaign, as the corruption factor hinders development and weakens confidence in state institutions. It leads to the depletion of public funds, which hinders the financing of important service projects, and at the same time constitutes a frustration factor for investors, creating an unencouraging business environment for them.
Therefore, anti-corruption efforts are a fundamental pillar of good management, as strengthening accounting, accountability and transparency is a factor that attracts foreign investments that enhance the country's economic growth.
Another important factor in promoting sustainable economic growth in Iraq is to focus on the need to achieve economic diversification of the country's resources, and this was represented by ambitious initiatives to attract foreign investments and form international and regional economic partnerships. Among these initiatives is the Development Road Project, which would enhance the importance of the diversification of the Iraqi economy, and it represents a vital step in Iraq’s journey towards economic diversification and communication with the economy of the outside world.
This project has two benefits: reducing the country's dependence on oil revenues and enhancing, at the same time, Iraq's position as an important station for international and regional trade.
The fact that Iraq occupies an important geographical location linking the Gulf, Asia and Europe, thus provides an important corridor for transporting goods through this project between Europe and Asia, which constitutes an important factor towards a prosperous economic future.
By developing modern transportation infrastructure and logistical support networks, the country's ambition for this project includes the flow of commercial lines, reducing expenses, enhancing efficiency, and thus attracting investments that promote sustainable economic growth.
The report indicates that partnerships with global economic powers and investment companies indicate the country's direction towards strengthening international cooperation that is beneficial to both parties, and through this Iraq can transfer expertise, resources and advanced external technological technologies that contribute to enhancing its goals in economic development. ‘
The report states that as Iraq seeks to enter into joint infrastructure projects and investments and exchange technology, it will reap multiple benefits that go beyond abstract economic benefits. The country can obtain the latest technology and the best solutions, thus enhancing Iraq's capabilities towards achieving sustainable development and achieving external economic competition.
Other benefits of this economic cooperation are the transfer of knowledge, the enhancement of local skills, and the development of human resources, which in turn strengthens Iraq’s economy and builds more sustainable economic components that can withstand future challenges.
The report stressed that by giving priority to development, fighting corruption, and promoting foreign investment, Iraq is setting a road map for sustainable growth and a prosperous economy. The more the country seeks in its efforts to carry out economic reforms and renewal, this is considered a pillar of hope for a strong economy. ‘
The Iraqi government's officials, economists, and economic advisors have expressed their concern about the future of the country's economy, focusing on the need to achieve diversification in the sources of Iraq's economy in order to confront any future shocks related to the fluctuation of oil prices and the possibility of their decline, and to have sustainable sources of financing other than oil resources. LINK
"Let’s show WTO is alive': UAE foreign trade minister says conference can be 'launch pad' for global trade"
The World Trade Organization is discussing with several countries how they are reforming the standards and percentages of trade opportunities among countries from around the Globe.
Focus is on leveling the playing field among some of the smaller countries giving them equal foothold and standing on the world stage.
Offering more Trade Networks for countries will give each country the ability to grow in bilateral trade relationships that will increase the need for their goods and services not seen before.
New demands on local currencies instead of the use of the dollar will provide greater purchasing power for these countries in process of Ascension into the WTO this week, of which, Iraq is one of them.
Finance announces the imminent sending of the 2024 budget schedules to Parliament and pledges the release of Kurdistan salaries on one condition
02-27-2024 By Sotaliraq Finance Minister Taif Sami announced on Monday that the 2024 budget schedules will soon be sent to Parliament. This came while hosting Sami in the Finance Committee.
The minister stated that “employees’ salaries for the year 2024 are fully insured,” noting that “the release of employees’ salaries in the Kurdistan Region during the current month is subject to submitting lists of names, and we have stipulated nationalization to disburse them during the coming months.”
She continued, “We have begun launching financing for the operational budget,” adding, “Soon we will send the 2024 budget schedules to the Council of Ministers for approval and sending them to Parliament.”
For his part, Member of the Parliamentary Finance Committee, Mustafa Sanad, said, “The Parliamentary Finance Committee hosted Finance Minister Taif Sami to discuss a number of topics, including financing the operational budget for the year 2024.”
Sanad explained, “The Minister informed the members of the committee that there is no interruption in funding the budget regarding operations and salaries of employees.”
Sanad continued, “With regard to the salaries of employees in the Kurdistan Region, and after the Federal Court’s decision, this month’s salaries will be financed in the usual manner in place through direct transfers. As for March salaries, the salaries of the region’s employees will be financed through the localization of salaries.”
He concluded by saying, “Funding the salaries of employees in the region will be through the governorates, meaning that the governorate that submits its data directly before the other will localize the salaries of its employees faster.”
Yesterday, Sunday, the Finance Committee in the Iraqi Parliament revealed that it will host the Minister of Finance tomorrow, Monday, to discuss the localization of the salaries of Kurdistan Region employees and the delay in distributing salaries throughout the country.
This comes after the Iraqi Ministry of Finance confirmed that it has taken measures and procedures to secure salary funding on an ongoing basis according to the 2024-2025 budget, denying at the same time political statements that indicated the lack of “financial liquidity.”
It is noteworthy that the Federal Supreme Court (the highest judicial authority in Iraq) decided, on February 21, to oblige the Federal Prime Minister and the Prime Minister of the Kurdistan Regional Government to settle the salaries of employees and workers in the public sector in the region with federal banks.
The court also decided to oblige the submission of the monthly budget for the region’s employees to the Federal Ministry of Finance, while requiring the region’s Council of Ministers to hand over all oil and non-oil revenues to the federal government.
The ruling stressed that the decision to localize the salaries of the region’s employees is final and binding.
“There is radio and TV communication, the latter being more limited about the possible revaluation of our DINAR currency between Thursday, February 29 and Friday March 1, 2024. It is speculative but the media Baghdad Communication is reporting it.”
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Sunday February 25, 2024
Frank26: He says
The Minister of Commerce of the GOI (Government of Iraq) and the CBI (Central Bank of Iraq) have formed a committee to review the prices of
Estate. Eliminate black markets.
Walking Stick has said that when you see the price change, it's time to get excited!
That's upon us now. This is the precursor of the new exchange rate!
Frank26 continues... 3 year budget recalculation/cancellation along with this due to new tariff coming
Today the HCL (Hydrocarbon Laws) are being finalized in Parliament
* Sudan at the grand opening of a refinery.
* CBI on government television saying there are no liquidity problems.
* 92% of all higher denomination dinars have been deposited/traded in preparation for using debit cards and new lower denominations.
* New travel mechanism coming soon ONLY to obtain US Dollars. There are restrictions on US dollars for citizens to use only dinars.
*IQD (Iraqi Dinar) has no restrictions.
* Iraq invests in the petrochemical industry as a leader.
* Al Sudani gave an encouraging speech in which he put economic and banking reforms as one of his top priorities.
* Big dispute in the plenary session of Parliament over the HCL law. You are well prepared to receive the new exchange rate
Frank says don't worry about it.
* All government services will be paid electronically in 2024. It is impossible to have a liquidity problem
* CBI goes from company to company... door to door collecting US dollars to get them off the streets.
* Monetary reform is done first to ensure that economic reforms work.
* The KTFA family comes to Chase and opens their accounts
* Red tape and corruption are being eliminated. Inflation will stop
* A monthly bulletin will be published with prices adjusted to address the floating due to currency changes and factors that affect prices in local markets and the mechanism that will be adopted in calculating prices. That is to say. variable due to the upcoming exchange rate and will be floating as soon as the dollar falls and the three zeros come out.
* Conclusion... Frank26 is excited... You should be too...
Greetings
Hernán Robert Hbravo
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TRANSLATION SPANISH:
Domingo 25 Febrero 2024
Frank26 : Dice
El Ministro de Comercio del GOI (Gobierno de Irak) y el CBI (Banco Central de Irak) han formado un comité para la revisión de los precios de
Bienes. Elimina los mercados negros.
Walking Stick ha dicho que cuando veas la modificación de precios, ¡es hora de emocionarse!
Eso está sobre nosotros ahora. ¡Este es el precursor del nuevo tipo de cambio!
Frank26 continúa... Recálculo/cancelación del presupuesto de 3 años junto con esto debido a la nueva tarifa que viene
Hoy se ultiman en el Parlamento las HCL (Leyes de Hidrocarburos)
* Sudán en gran inauguración de una refinería.
* CBI en la televisión del gobierno diciendo que no hay problemas de liquidez.
* El 92% de todos los dinares de denominación superior se han depositado/negociado en preparación para utilizar tarjetas de débito y nuevas denominaciones inferiores.
* Próximamente nuevo mecanismo para viajes SÓLO para obtener Dólares Estadounidenses. Existen restricciones en dólares estadounidenses para que los ciudadanos utilicen solo dinares.
* IQD (dinar iraquí) no tiene restricciones.
* Irak invierte en la industria petroquímica como líder.
* Al Sudani pronunció un discurso alentador en el que puso las reformas económicas y bancarias como una de sus principales prioridades.
* Gran disputa en el pleno del Parlamento sobre la ley HCL. Está bien preparado para recibir el nuevo tipo de cambio
Frank dice que no te preocupes por eso.
* Todos los servicios gubernamentales se pagarán electrónicamente en 2024. Es imposible tener un problema de liquidez
* CBI va de empresa en empresa... puerta a puerta recogiendo dólares estadounidenses para sacarlos de las calles.
* La reforma monetaria se hace primero para garantizar que las reformas económicas funcionen.
* La familia KTFA llega a Chase y abre sus cuentas
* Se están eliminando los trámites burocráticos y la corrupción. Se detendrá la inflación
* Se publicará un boletín mensual con precios ajustados para atender la flotación por cambios de moneda y factores que afectan los precios en los mercados locales y el mecanismo que se adoptará en el cálculo de precios. Es decir. variable por el tipo de cambio que viene y estará flotando en cuanto el dólar baje y se salgan los tres ceros.
* Conclusión... Frank26 está emocionado... Tú también deberías estarlo...
