Praising the government's success in attracting investors and capital to the country, 28 DEC

  Praising the government's success in attracting investors and capital to the country

As the year 2024 draws to a close, witnessing an urban renaissance that the country has lacked for decades, academics and specialists praised the government’s success in attracting investors and capital to the country, stressing that the security stability enjoyed by the country and the development of the banking system that came in accordance with the government program, pushed the wheel of investment forward.

Safe reality

Professor of Economics at Al-Nahrain University, Sattar Al-Bayati, told Al-Sabah: “In light of the current safe reality and the stability that the country is witnessing, there is a development and urban movement that the country is witnessing according to the government program, and the achievements that occurred during this year with regard to Baghdad, especially in the matter of cleanliness, roads, bridges and projects in various sectors, as well as the bridges that were built or rehabilitated and appeared in a new guise

These are all positive messages sent by the government to investors, whether Iraqis or Arab and foreign investors, that there is a suitable environment for investment in general, especially direct investment in light of the existence of Investment Law No. 13 of 2006 and its amendments, which contain many articles that serve the investor.”

 He pointed out that “there are two types of investment, which are foreign direct investment and indirect foreign investment,” indicating that “indirect investment occurs in the Iraq Stock Exchange, or any stock market or stock exchange.”

 Infrastructure

He added, "The government is counting on direct investment, because it is a real investment that can be made directly in the basic structures or infrastructure that the country needs, such as residential complexes, bridges, hospitals, or universities. Direct investment can invest in all of these."

Great benefit

In turn, economic expert Alaa Al-Fahd told Al-Sabah: “The government has focused on investment aspects and development projects with high economic feasibility,” indicating that “these projects, if completed, will be the gateway and beginning for development projects and investments and attract foreign investment, while greatly benefiting from the state of security and political stability in Iraq.” Al-Fahd confirmed that “there is an investment revolution in Iraq currently.”

Financial capabilities

“Security and political stability can be a gateway for investments in various fields and sectors, such as the services sector, housing sector and infrastructure, and this is one of the government’s priorities,” he added, noting that “this requires consolidating the partnership between the public and private sectors, whether local or foreign, as this is the first stage to gain confidence and move from the socialist state and the government’s implementation of projects, to another new state with the participation of the private sector in projects in which the local private sector can invest according to the existing financial capabilities and infrastructure belonging to the state, and even in the field of managing service facilities and others.”

Big investments

He pointed out that Iraq today has begun to attract very large investments that have so far reached 62 billion dollars, but it needs more than 500 billion dollars in the areas of infrastructure, services and productive projects, in addition to the government’s orientation towards oil transformation industries,” indicating that “these industries in themselves will contribute firstly to achieving self-sufficiency, and secondly, Iraq can be a source of oil derivatives, as well as a source of transformation industries instead of the state having to bear the costs of importing them.” 

Government vision

“There is a government vision for a map of high-priority investment projects, and the government has begun to lay the basic foundations in terms of financial transfer, financial leverage, and financial inclusion, which is one of the largest pillars of investment,” he said, stressing that “investment seeks financial security and financial inclusion, with the presence of a banking system capable of managing the investment process, primarily by providing bank credit, as well as achieving financial security in terms of foreign transfers and relations between local banks.” And foreign.  link

TIDBIT FROM JON DOWLING, 28 DEC

JON DOWLING

Bear in mind folks, the Dong still hasn’t changed against the dollar.

 But what the forex Coinbase chart shows is that once the dinar flips, the Dong and every other currency will be setup on the XRP crypto platform to revalue and that everything is now in place to move. 

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FIREFLY: CHECKMATE!! : IRAQ MUST ADD VALUE TO THE DINAR ONCE STOPS THE CURRENCY AUCTION #iqd

 

Dagher: I don't understand why we borrow when oil exceeds $70 , 28 DEC

Dagher: I don't understand why we borrow when oil exceeds $70 

Today, economic expert Dr. Mahmoud Dagher criticized the economic policies that push Iraq to borrow despite oil prices exceeding $70 per barrel.

Dagher explained that the external debt exceeded the figures announced according to the World Debt Report, while the internal debt amounted to more than 81 trillion Iraqi dinars, which constitutes an additional burden on the general budget that bears the debt installments and interest, as these costs reach 9 trillion dinars.

He pointed out that the government's continued borrowing lacks any economic justification, especially with the fluctuation of Iraq's GDP as a country dependent on oil revenues, which makes the debt-to-GDP ratio unrealistic or economically feasible.

Dagher concluded his statement by stressing the need to reconsider these financial policies, warning of the repercussions of borrowing on the Iraqi economy if oil prices decline in the future  link

TIDBIT FROM PIMPY, 28 DEC

 Pimpy  

Article: "What are Iraqis waiting for after the news of the 'sudden suspension' of the dollar  sale platform by the Central Bank?" 

 That is a big deal by the way.  They've been talking about stopping the auctions for quite  some time...

This is their way of getting away from the dollar altogether and by doing so allow them to win the international  community...This is going to eliminate a lot of the criminality.

MAJEED : ONCE THE IQD GO ON FOREX , IT WILL BE LIKE THE SHOTGUN TO LET THE OTHER CURRENCIES REVALUE

 

FRANK26: "EDDIE KNOWS MORE THAN YOU KNOW MR IRAQI BUSINESSMAN???!!!", 28 DEC

 KTFA

FRANK26:  "EDDIE KNOWS MORE THAN YOU KNOW MR IRAQI BUSINESSMAN???!!!"....F26

Within days"... Businesses are "confused" with expectations of a rise in the dollar exchange rate in the parallel market

 

12/27/2024

 

 Baghdad

Economic expert Ahmed Al-Tamimi expected, today, Friday (December 27, 2024), that the dollar exchange rate will continue to rise in the parallel market in the coming days.

Al-Tamimi told Baghdad Today, "The dollar exchange rate in the parallel market has been rising continuously for days," expecting "it to continue rising during the next stage, and  this matter is directly linked to the imminent announcement of the platform's suspension by the Central Bank of Iraq."

 He added, "This matter has caused clear confusion in business," noting that "there is an increasing demand for the dollar in the parallel market, after this announcement due to fears and traders' lack of knowledge of how to deal with banks regarding foreign transfers."

He stressed that "this increase has increased the exchange rate and we expect the exchange rate to increase, and for this reason the Central Bank of Iraq must clarify the new mechanisms for foreign transfers and how they will be through banks, in order to reassure the street."

Earlier today, Thursday, economic expert Nasser Al-Tamimi revealed the reason for the continued rise in the dollar exchange rate in local markets for days.

Al-Tamimi told Baghdad Today, "There are two main reasons behind the continued rise in the dollar exchange rate in local markets for days," indicating that "the first reason is the imminent suspension of the platform's work at the Central Bank, as this matter has caused confusion in the market, especially among small traders, who have increased their demand for dollars from the parallel market. "

He added, "The other reason is the proximity of the New Year's celebrations, as there is a demand for the dollar in the parallel market for the purpose of travel as well as buying some goods," expecting "the rise to continue until the beginning of the new year, after which it may return to a gradual and slow decline."

LINK