Iraq Economic News and points to Ponder Sunday AM 11-17-24
Exchange Rates Will Rise Further...A Warning Of An Imminent Economic Crisis Due To The “Coldness” Of The Central Bank
November 16, 2024 Baghdad / Iraq Observer Economic affairs researcher Ziad Al-Hashemi warned of serious economic repercussions as the deadline for stopping the dollar platform approaches after six weeks, indicating that the
Central Bank of Iraq is still dealing with the crisis coldly, which may lead to a rise in exchange rates and a scarcity of imported materials. Al-Hashemi explained in a post on the This could cause major disruptions in the markets.”
He added, “Failing to address this file will lead to a portion of remittances going toward the parallel market, which will increase the demand for the dollar and raise its exchange rates significantly, which will reflect negatively on the prices of goods and services in the Iraqi market.” He also expected that
this would hinder the ability of a large number of merchants to import, causing a scarcity of imported goods and an increase in their prices. He pointed out that
“the Central Bank seems to be betting on a smooth transition process without problems,
but it considered this bet unrealistic in the absence of a clear plan for managing the transitional phase.” Al-Hashemi concluded his warnings by saying,
“The Central Bank has only six weeks to act and manage this crisis, otherwise delay will lead to catastrophic results that will cast a shadow on the Iraqi economy by the end of this year.”
https://observeriraq.net/اسعار-الصرف-سترتفع-اكثر-تحذير-من-ازمة/
Discussing Mineral Investment And Export Mechanisms
Economical 11/17/2024 Baghdad: Al-Sabah The Ministry of Commerce held a meeting of the Diwani Order Committee No. (23931), charged with the task of
reviewing legislation related to mineral investment, and
developing mechanisms for exporting raw materials and
methods for obtaining an export license,
headed by the Undersecretary for Economic Affairs, Ghassan Farhan, and in the presence of members of the committee.
Farhan confirmed in a statement received by Al-Sabah that
“during the meeting, recommendations were discussed that will hopefully achieve positive results and the necessary support for industries, mineral investment and exporters, after their approval by the Council of Ministers.” https://alsabaah.iq/105963-.html
Corporate Structuring... Stimulates Economic Growth
Economical 11/17/2024 Yasser Al-Metwally In a remarkable step, the government is moving towards correcting the structural defect in the performance and management of government (public) companies, to make them profitable and productive companies, at a time when most of them were declining and losing.
This comes by activating the work of the Supreme Committee formed for this purpose (corporate structuring) and giving it direct attention from the top of the authority pyramid.
The restructuring of public companies aims to improve companies' performance, increase their efficiency, and develop their strategies.
This enables it to help simplify operations and improve workflow, which increases operational efficiency and reduces costs, and which enables it (I mean companies) to increase their profits and achieve sustainable financial growth.
In addition, restructuring allows companies to adapt to changes in the market, technology, and customer requirements. Which helps it achieve competitiveness.
With a simplified definition of structuring, it includes achieving an equal partnership with the private sector, transforming them into joint-stock companies, and benefiting from the private sector’s expertise in their management, or by merging with each other similar companies that practice the same activity, as well as partial privatization of some of them, especially those that are losing and those scheduled for liquidation..
It is necessary, and even certain, to preserve the rights of surplus workers, as
restructuring will lead to the displacement of surplus workers,
which requires dealing with the surplus workers, in a way that achieves justice in obtaining their retirement rights, and benefiting from some intermediate experiences to put them in emerging companies, and
what is most important is It is to encourage them to engage in private activity, and to help them establish small projects of their own, through soft and encouraging loans.
Thus, the structuring process can get rid of the biggest challenge facing it, which is surplus labor.
The repercussions of the structure will contribute to improving production processes, and
this requires attention to training and development, which leads to improving the quality of products and services provided, which enhances customer satisfaction.
Restructuring helps better identify and manage risks, which contributes to companies' stability and flexibility in the face of challenges.
By adopting flexible and innovative organizational structures, companies can enhance their ability to innovate and develop new products and services.
It may be useful to point out that structuring companies and converting them into joint stock companies will contribute to enhancing economic growth, through listing them in the Iraqi Stock Exchange, which stimulates the financial market, labor market, and growth.
The bottom line is that corporate restructuring is a process that requires careful planning and effective implementation to ensure the achievement of the desired goals. https://alsabaah.iq/105961-.html
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