Thursday, November 28, 2024
The Success Of The Economy Saves The Drowning Of Politics, 28 NOV
The Success Of The Economy Saves The Drowning Of Politics
Mahmoud Dagher: At a time when some governments of the rentier system insist on expanding analyzes and political approaches and various elements of ideology, there is a decline in interest in the economics and management of depleted oil resources towards diversification in other governments, to the point where the interests of the economy and the well-being of the population take precedence over others, and the criterion for success becomes clamor.
Industry, agriculture, technology, and the accompanying development of human resources, versus whispers of politics and ideology.
Such a conclusion is prompted by what Moody’s credit rating agency published regarding the new credit rating of the Saudi economy, which reached Aa3 with a stable outlook after eight years ago for this agency, it was A1 with a positive outlook for the future.
It means an improvement in the state’s credit capacity, including its entry into the bond markets and the acceptance of its proposals. Financing and with lower interest.
Rather, more importantly, Saudi banks and other financial institutions enjoy the advantage of the new classification after they could not market their financing except with the old classification because financial institutions cannot exceed the classification. State.
Iraq, for example, is classified as B-, and therefore the highest at which its banks can be classified is the same classification or lower.
It was noted a few months ago that the classification of the largest Iraqi bank, TBI, was downgraded.
The macroeconomic credit rating and its changes depend on numerous economic and financial criteria reflected in the levels of financial and economic performance, including the
level of public deb t,
growth rates, and
improved private sector performance, as well as
non-oil revenues and the
performance of non-oil output.
The sum of these criteria leads to an improvement in the level of economic diversification of the rentier state under the classification.
Which is the most important conclusion from the new classification of Saudi Arabia compared to other economies.
The growth rates of non-oil production sectors have increased, expectedly, to 4-5%, in addition to the non-oil revenues reaching about 40% in total public revenues. In fact, Saudi Arabia’s non-oil exports grew by 22% for the month of September 2024, and such results lead to an increase in the share of The output of the private sector in Saudi GDP, which is expected for the latter to grow up to 4.7%.
The high rating of the Saudi economy is attributed to a long-term economic path of diversification transformation that is considered the mainstay of long-term growth, as well as the tangible approach to independence from the oil crises.
Providing economic interests towards higher prosperity is what leads to the easing of political and ideological tension, despite its presence in our region that floats on oil and the problems associated with it.
Yes, improving the performance of the economy is a way to save yourself from the drowning of politics.
FIREFLY: IT SOUNDS LIKE HE'S TELLING US THEY'RE GOING TO BE GIVING US OUR PURCHASING POWER VERY SOON, 28 NOV
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Sudani on television again this afternoon saying the CBI has progressed in the 77 past years and they have dealt with all the challenges and the reforms...
Alaq on television talking about the CBI...the more we listen the more it sounds like he's telling us they're going to be giving us our purchasing power very soon.
FRANK: They're telling you your country...bank...economy is exploding. That's impossible at a program rate...It's their way of telling you what they promised you...purchasing power in your currency. It is coming.
Withdrawal Of The License Of The Oman Brokerage Company To Buy And Sell Foreign Currencies, 28 NOV
Withdrawal Of The License Of The Oman Brokerage Company To Buy And Sell Foreign Currencies
November 27, 2024 diamonds: The Central Bank of Iraq decided to withdraw the license of the Amman Company to mediate in the buying and selling of foreign currencies.
For more , click here https://cbi.iq/static/uploads/up/file-173269795553645.pdf
~~~~~
[approximate and incomplete translation of https://cbi.iq/static/uploads/up/file-173269795553645.pdf ]
DATE: 2024/11/26 (Your counterpart in creation)
Ministry of Commerce / Companies Registration Department
MNT GOAT: IRAQ IS NOW SERIOUS ABOUT MOVING AHEAD , 28 NOV
Mnt Goat
In the study of the recent Iraqi census taking...you can clearly see the recent census was a national census taken with the help of the United Nations (UN).
The UN every so many decades takes a global census to determine the world’s population and demographics.
Iraq is also going to use this census as part of the Article 140 distribution of the Kurdistan monthly payments of oil revenues to the region from the GOI.
It will also help resolve part of the Oil and Gas law...Note, I did not say excess oil revenues or oil wealth distribution...This census taking has VERY LITTLE to do with the HCL individual Oil revenue sharing/distribution..
So, now since the census is taken, the GOI can legally compensate and prove why they are compensating the amounts to the Kurds.
This is really WOW! news for us today...you can see how this census results would also be useful in rebuilding the Iraqi economy besides Article 140 and HCl disputes.
It was way overdue. This is yet another sign to us investors that Iraq is now serious about moving ahead.
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