Government confirmation that the Iraqi economic path is moving in the right development direction, 16 JAN

 Government confirmation that the Iraqi economic path is moving in the right development direction

Mawazine News – Economy

The Prime Minister’s Advisor for Financial Affairs, Mazhar Mohammed Saleh, confirmed on Wednesday that Iraq’s economic path is progressing properly towards development for the coming years, noting that economic growth in 2024 is a motivation for the expansion of economic activities in the country.


Saleh said in a statement to the official agency that “there is a principle in the economy called the economic accelerator, which means that the growth in non-oil GDP, which reached 6% in 2024, will reflect positively on the strength of national investment in 2025.”


He added that “the Iraqi economy will witness a high investment renaissance in 2025 thanks to the economic accelerator in the investment field, in addition to the high positive growth effects of national income in 2024.”


Saleh pointed out that “business companies and investors are affected by the results of the basic idea behind the economic accelerator, which indicates that any increase in demand for goods and services as a result of national income growth in 2024 can lead to increased investment in capital such as machinery, equipment and labor in 2025.”


He added that “companies and business activities need to expand their productive capacity to meet the growing demand for goods and services, which will lead to a positive accumulation in the productive capacities of the national economy in 2025,” he stressed that this can be positively expected, especially if it is accompanied by a good agricultural season and a wet year in the coming months.


In conclusion, the Prime Minister’s Advisor pointed out that “Iraq’s economic path is moving in the right development direction for the coming years, thanks to the continuous cooperation between the private and public sectors.”

https://www.mawazin.net/Details.aspx?jimare=258626

TIDBIT FROM WALKINGSTICK, 16 JAN

 Walkingstick 

  The monetary reform education is extremely fast. 

 They are now all the way to the point where they are past the basket and talking to the Iraqi citizens about the future of digitization in their country...

Digitization of their currency mainly will help at the onset because you cannot introduce too much currency at the start...

Not a cashless society at the onset but given time Iraq will be.  That is the goal. 

DINAR REVALUATION UPDATE: January's Pivotal Changes for Iraq's Economy!! @DINARREVALUATION

 

Shell Oil Company announces readiness to increase investments in Iraq, 16 JAN

 Shell Oil Company announces readiness to increase investments in Iraq

Information / Baghdad..
British oil company Shell announced today, Wednesday, its readiness to increase its investments in Iraq.

A statement from the office of Prime Minister Mohammed Shia al-Sudani received by Al-Maalouma Agency stated that “Al-Sudani received today, Wednesday, at his residence in the capital, London, the CEO of Shell Oil Company, Wael Sawan.”

He added, “During the meeting, the cooperation between Iraq and the company, which is one of the most important oil, gas and petrochemical companies in the world, was discussed, especially since the government announced many investment opportunities in these sectors.”

According to the statement, the company’s CEO announced “readiness to increase investments in Iraq, especially in the field of associated gas, in addition to investing in the free gas sector, for which the government has launched a licensing round to invest in several areas of Iraq.”

almaalomah.me

MAJEED: I told you no more voting on article 12 for Kurdistan HCL because it was approved December 5, 2024, 16 JAN

 MAJEED

There is the schedule for also Sunday voting They will vote on the budget law only for article 2 which is for Iraq oil revenue Not article 12 (which is HCL for Kurdistan) Look at the four pictures I told you no more voting on article 12 for Kurdistan HCL because it was approved December 5, 2024

1:00 PM · Jan 15, 2025

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MAJEED:THE CBI INFORMED THAT THE ELECTRONIC PAYMENT WILL STOP TODAY FOR MAKE UPDATE TO THEIR SYSTEMS

 

Mixed opinions and a warning against "rumors".. Is Iraq suffering a financial crisis?, 15 jan

 Information/Report..

Iraq is facing financial and economic challenges caused by the decline in oil prices in recent months, while the Ministry of Finance confirms that it has no shortage of liquidity and that it is securing salaries for the current year despite the delay in their payment in the last month of 2024.

Parliament recently hosted Finance Minister Taif Sami to discuss a number of economic issues. After the meeting, Finance Committee Chairman Atwan Al-Atwani said that there were no concerns regarding salaries even if oil prices fell to $50 per barrel.

Former and current MPs believe that the financial crisis exists and has prompted the state to take measures to ease financial obligations towards employees by halting transfers and assignments between ministries, as they require adding new financial allocations.

In this regard, former MP Mohammed Al-Shabaki confirms that Iraq is suffering from a financial crisis, the repercussions of which have been reflected in a series of government decisions.

Al-Shabaki said in an interview with Al-Maalouma Agency, "Iraq's financial situation does not bode well, because all revenues come from the sale of oil and one commodity, and this country will certainly suffer an economic crisis if oil and energy prices fall," indicating that "the financial budget for the year 2025 will be financed by a full deficit according to revenues amounting to 137 trillion dinars and spending of about 159 trillion."

He added, "Diversifying imports is necessary to overcome the current crisis, and there must also be a political decision to streamline some spending units and eliminate financial waste and the like," indicating that "the crisis appeared clearly when the Ministry of Finance announced that there would be no appointments this year and the cancellation of sending a proposal to amend the employee salary scale law to Parliament due to the financial obligations resulting from it, in addition to stopping the transfer and appointment processes because they require adding financial allocations to some ministries."

For its part, the State of Law Coalition warned, on Wednesday, of attempts to create a financial crisis in Iraq through rumors about the salaries of employees and retirees, stressing that the current situation is good and salaries are secured for the current year.

Coalition member Imran Karkoush explained in an interview with Al-Maalouma Agency, "The issue of the financial crisis is not at the level that is being talked about. Compensation, allowances, and delayed entitlements have been paid to employees of some ministries and retirees, and the state is in a good position." He indicated that "what is being rumored are attempts to create a new crisis in Iraq, and at this moment there is no such problem, and the situation requires more reassurances from the state and government to the Iraqi public opinion and not to allow a crisis to occur there."

He believes that "the situation in the region is moving towards a kind of stability, especially with the approaching cessation of the Zionist aggression on Gaza and reaching an agreement to end the war. Iraq also has good understandings with countries, in addition to the stability of oil prices," stressing that "there are no major concerns and the Ministry of Finance confirms that salaries are secured for the current year 2025."

Parliament is scheduled to vote on the 2025 general budget next Sunday after extensive discussions and debate during the past period, while representatives and experts confirm that the budget deficit will be greater than its predecessors and warned of a widening gap between imports and government spending.