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Advisor to the Prime Minister: The government established a road map for the work of the economic model in Iraq, 11 AUGUST

 Economy News – Baghdad

The financial advisor to the Prime Minister, Mazhar Mohammed Saleh, on Saturday, outlined the vision of the government curriculum on the economic model, and while he indicated that he will direct investment decisions to achieve its goals, stressing that the government of Prime Minister Mohammed Shia Al-Sudani established a road map for the work of the economic model in Iraq.

Saleh said, in a statement reported by the official news agency, and seen by “Economy News”, that “the economic model is a mathematical model used to represent the economy, and analyze the behavior of various economic factors, as these models are used to understand how economic elements interact,” noting that “at the level of the government curriculum for Iraq’s philosophy, the basics of modeling the Iraqi economy were based on an important vision based on the principle of the decomposition of the entire economy, and taking into account the macro variables, foremost of which are the basics of development and growth in the GDP and imposing stability and effective operation of the joints of the national economy and the level of its interconnections.”

He added that “the current digital life helps to use computing to conduct simulated experiments to understand the potential effects of various economic policies and adopt optimal paths from them,” stressing that “Iraq has established in its government platform a practical establishment and a road map for the work of the economic model of Iraq through the development road strategy, since the beginning of the government of Prime Minister Mohammed Shiaa Al-Sudani.”

He pointed out that “the state of economic imbalance and its severe unilateralism has always required thinking about the future of the economy through an approach based on generating an alternative sector leading the national economy,” explaining that “the development road program is the academic point of view, and what was presented by the German economic thinker Albert Hirschman in his famous book (Economic Development Strategy) issued in 1958, in combating the state of imbalance and economic unilateralism with a theory based on an economic development weight, and a leader of the economy that provides a high degree of back and front sectoral interdependence and high interaction that achieves sustainable growth and restoring balance in the long term of the national economy.”

He pointed out that “this theory emphasizes in its model the need to invest in strategic sectors with a specific high priority instead of investing in all sectors at the same time,” adding that “according to this theory, other sectors will develop automatically over time, and from this point of view the idea of the economic model for the future of Iraq was born in prosperity and diversity, which is undoubtedly based on a macroeconomic strategy based on the path of development.”

Saleh pointed out that “that development strategy and the economic model that drives macroeconomic variables, has not been separated from the vision of partnership between the state and the private sector and the principles of the social market within the data of the five-year national development plan and its objectives, which were recently launched,” concluding that “the model or economic model of Iraq, which we aspire to establish, will provide the guiding predictive foundations for evaluating economic policies and directing investment decisions to achieve its specific goals optimally.”

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53 views

Added 2024/08/10 – 4:38 PM

https://economy-news.net/content.php?id=46126

RV UPDATE BY PIMPY, 11 AUGUST

Pimpy 

 Iraq is still treading forward.  I'm curious to hear the news about what's going on with Alaq and what they find out because what they're reporting is not all peaches and cream.  But apparently he is still there working so it can't be all that bad IMO...

 Pimpy 

  Alaq, all kinds of crap coming out about him... Seems to me they were hip to what was going on damn near a year ago and this would explain whey there's so many restrictions taking place with the Iraqi Bank as well as other banks in Iraq and why it is that the United States felt like they had to take up a whole entire floor inside the Central Bank of Iraq...

The Central Bank of Iraq was forced to allocate an entire floor to the US Treasury department to  monitor money transfer operations and prevent any illegal activities.  Talk about a very clear violation of Iraq's sovereignty.   This is how bad things have gotten...The United States has now taken up permanent residents within Iraq's central bank...  

Article: "The Governor of the Central Bank of Iraq resigns"  He's pressured out.  There's all kinds of crap happening...he was behind some shady things and it looks like now he is resigning.  They are going to say it had to do with his retirement.

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-pimpy-9-august.html

Jon Dowling The Weekly Wrap Up 9th August 2024 Updates

Central Bank Governor: We have a broad transformational program towards digitization, 11 AUGUST

 Economy News – Baghdad

The Governor of the Central Bank of Iraq, Ali Al-Alaq, confirmed that there is a wide transformational program towards digitization and the use of electronic payment tools.

Al-Alaq said in an interview followed by “Economy News”, “There is a wide program that has been transformed towards digitization and the use of electronic payment tools to enhance this large program, which we are witnessing today by developments reflected in the real figures for the use of electronic payment tools, whether in the public sector or in the private sector.”

Al-Alaq added: “We now provide the extensive infrastructure to enable all the tools and products of financial services, to take their part,” usually “playing a very important role in our national economy and also in investing the existing energies, whether material or human.”

The governor of the Central Bank of Iraq pointed out that “there is integration in the roles between electronic payment companies, banks and the Central Bank in a continuous way in order to proceed with this large project.”

“We will reflect the scale of the evolution in numbers in the past period and how the growth has become significant with these tools,” he stressed.

In June 2023, the Central Bank of Iraq announced the entry into force of the Iraqi Council of Ministers Resolution No. (23044) for the year 2023, which is to increase the number of electronic payment devices in government institutions and the private sector to enhance the culture of payment and electronic collection, and reduce the use of paper money in collection and commercial transactions.

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240 views

Added 2024/08/10 – 9:59 AM

https://economy-news.net/content.php?id=46108

RV UPDATE BY BREILTING, 11 AUGUST

 Breitling 

 I've gotten the weirdest hate mail with a capital H.  You people need to just suck it up.  I don't care if it's not what you want to hear...I'm just reporting what the policy in Iraq is and whether it's pushing our speculation forward or not.  That's all it is.  Nothing more than that.

Breitling

   I beg you.  Do not turn this investment into a religion and  do not hide from facts...People that do that always have financial problems...You have to watch policy. 

Breitling  

 [Iraq's] policy has changed for the very first time since we've been in this...speculation together.  The policy is going to change on either side of the aisle...Iraq is going to be punished if they keep moving forward here [moving more and more pro-Iranian].  That's not good.  That's not positive for us.  

 The Untied States is trying to influence [Iraq] to do the right thing.  Hopefully they will do it and everything will be hunky-dory.  Well the reality is IMO if the CBI had that influence it would have been done already.  That's the problem.  That's why I'm in the neutral zone.  It sucks because I put my heart and soul into this.  Don't think for a minute I don't feel it because I do...This could mess up the timeline and push it back, maybe even permanently if Iraq can't handle these financial problems.

https://dinarevaluation.blogspot.com/2024/08/rv-update-by-breitling-8-august.html

NADER FROM MID EAST: Electronic iqd