Wednesday, December 25, 2024
IMPORTANT IRAQ NEWS: PARLIAMENTARY COMMITTEE: IRAQ IS HEADING TOWARDS A MAJOR INVESTMENT AND ECONOMIC BOOM , 25 DEC
PARLIAMENTARY COMMITTEE: IRAQ IS HEADING TOWARDS A MAJOR INVESTMENT AND ECONOMIC BOOM
The Parliamentary Investment and Development Committee confirmed, today, Monday, December 23, 2024, that Iraq is heading towards a major investment and economic boom during the next stage.
Committee member Mohammed Radhi told Baghdad Today, “The stability achieved at the political, security and governmental levels will lead to important and large investment opportunities during the next phase, and this will generate great prosperity at the economic level, and this will lead to an important construction leap in various infrastructures.”
Radhi added, “The Iraqi government has achieved successes in the investment file and strengthening the economic and financial conditions, and these successes have been positively reflected in the services, reconstruction and development file, and the next stage will show these successes more clearly through investment and economic prosperity at various levels.”
In April 2024, the International Monetary Fund expected the Iraqi economy to grow by 1.4% in 2024 and 5.3% in 2025, and urged structural reforms and debt stabilization.
The Iraqi government also announced a decrease in unemployment from (16.5%) to (14.4%), a reduction in the poverty rate from (23%) to (17%), a decrease in the inflation rate from (6.1%) in 2021 to (2.5%), and an increase in non-oil revenues to (14%), after representing (7%) of the budget.
MNT GOAT: " RV would only facilitate more investors to go the ISX" , 25 DEC
MNT GOAT
😊I need to address one more important article today titled “THE ROAD AHEAD FOR IRAQ’S UNDERDEVELOPED STOCK MARKET”. In the article it tells us that
Iraq’s stock market (ISX) is considered a vital pillar. Oh… that’s the Pillars of Financial Reform again. Oh…. I get it…. Do you?
Also, in this article it talks about channeling savings into investments and it remains underdeveloped and overshadowed by regional counterparts.
Authorities are striving to revitalize the market to attract investors and promote economic diversification, however, challenges such as political instability, limited industrial and agricultural sectors, and bureaucratic hurdles continue to impede it’s progress.
In other words there is still work to be done and the capital flow into the ISX is not at satisfactory levels.
Can this drag on the implementation of the RV? I will ask my CBI contact over the weekend but I think the RV would only facilitate more investors to go the ISX. So the RV would be a positive event.
IMPORTANT IRAQ NEWS: DURING 2025.. CAUTIOUS ANTICIPATION OF THE ECONOMIC AND FINANCIAL REALITY IN IRAQ, 25 DEC
DURING 2025.. CAUTIOUS ANTICIPATION OF THE ECONOMIC AND FINANCIAL REALITY IN IRAQ
Economic expert Ahmed Al-Tamimi confirmed today, Sunday (December 22, 2024), that Iraq is heading towards a cautious situation regarding its economic and financial situation during the year 2025.
Al-Tamimi told Baghdad Today: “Expectations and data confirm that Iraq is facing hot events at the beginning of the new year, and these events will have repercussions and reflections on the country’s financial and economic reality, especially with the imminent assumption of the presidency of the White House by US President-elect Donald Trump, and the fear of imposing some sanctions and financial tightening on Iraq in order to limit the smuggling of the dollar as well as limiting the Iranian role through these economic pressures.”
He added, “There is extreme caution regarding the financial and economic reality of Iraq at the beginning of the new year, especially since the Iraqi economic situation is greatly affected by any security or political event, and for this reason everyone is anticipating the coming days, and this matter has led to a decline in the buying and selling of real estate and other valuable items, for fear of any expected economic and financial shock.”
The Parliamentary Finance Committee confirmed last Monday that the situation in Syria does not affect the Iraqi economy or the dollar exchange rate in the local market, noting that “the government and the Central Bank have taken several important measures to confront the security and economic challenges in the country, especially in light of the deteriorating situation in Syria.”
TIDBIT FROM MNT GOAT, 25 DEC
Mnt Goat
“REASONS FOR THE DELAY IN SENDING GENERAL BUDGETS IN IRAQ AND ITS ECONOMIC REPERCUSSIONS” ...Iraq is trying desperately to fix the system they have in place of budgeting. The article tells us the system has been an ongoing issue and needs to be fixed. It lists the issue involved and is very informative.
I will tell everyone...The hold up of the budget is NOT about the RV...I can tell you for sure with 1000% assurance the hold up of the budget implementation is NOT due to waiting for the new RV rate.
Subscribe to:
Posts (Atom)