More Iraqi News Friday Late PM 2-18-22
More Iraqi News Friday Late PM 2-18-22
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A Kurdish Position In Support Of The Minister Of Finance: A Statesman And An Exceptional National Wealth
Political | 08:23 - 18/02/2022 Baghdad - Mawazine News Former Kurdish MP Hoshyar Abdullah said on Friday that Finance Minister Ali Allawi is a statesman and exceptional national wealth.
Abdullah said in a tweet posted on his official account on Twitter and followed by / Mawazine News /:
"He is known globally in his specialization, I discussed it more than once, I noticed its depth in economics and finance, he was discussing calmly and with interest with those who understand him, and he gets angry when the illiterate philosophize in front of him in financial and monetary policy.".
And he added, "Ali Allawi is an exceptional national wealth and a statesman in every sense of the word.
He is a clean person and belongs only to the homeland."
The Sadrist Parliamentary Bloc responded, earlier today, Friday, to the letter of Finance Minister Ali Abdul Amir Allawi to Prime Minister Mustafa Al-Kazemi, in which he rejected his invitation to Parliament tomorrow, Saturday.
Representative of the bloc, Ghayeb Al-Amiri, said in a statement that Mawazine News received a copy of it, "We reject the passive statements and the unbalanced reaction of Allawi, who seemed to be afraid of recruitment, and in violation of the constitutional foundations of appearing in the legislative institution, and you know that the Sadrists are the salt of the earth and the sons of the nation." And brothers to the rest of the components of the people that you are supposed to be a servant to and a worker for the sake of its comfort and well-being.”
He added, “What is the nonsense except that you (kindly accepted) in underestimating the suffering of the people from high prices and the high cost of living, and what lies you are telling about what you believe of success, just as you belong A good family to be proud of..
Al-Omair concluded, "We are the Sadrists, a noble family and a good tree, its root is firm, its branch is in the sky, and its fruits are steps of reform that will bring down every failed or fearful dementia, so that the truth is right and the country flourishes."
And Finance Minister Ali Abdul-Amir Allawi, earlier today, Friday, sent a message to Prime Minister Mustafa Al-Kazemi, following the tweet of the leader of the Sadrist movement, Muqtada al-Sadr, regarding the exchange rate of the dollar, while stressing his refusal to be summoned by the First Deputy Speaker of Parliament, Hakim al-Zamili. https://www.mawazin.net/Details.aspx?jimare=185038
An Economic Warning Against Wasting Large Amounts Of Money After The Fourth Wave Of The Rise In Oil
Economic Last update 02/17/2022 | The Information / Baghdad..The economic expert, Basem Antoine, called on the government, on Thursday, not to continue to pursue a backward policy in managing the economic file, especially with the rise in global oil prices, indicating that the Sovereign Fund of Iraq has become a requirement to end dependence on oil.
Antoine said in a statement to "The Information", "Over the past years, Iraq witnessed four waves of high global oil prices, but it did not invest them properly, as the price of oil currently exceeds 95, meaning an estimated surplus of about 40 dollars per Iraqi barrel."
He added that "strategic and development projects, basic infrastructure, and the establishment of a sovereign fund, as it is in the oil-rich countries, will ensure the end of Iraq's dependence on oil in the coming period."
Antoine pointed out that “the continuation of a backward policy in managing the surplus of oil prices and not diversifying the source of Iraq’s income will bring to Iraq an economic disaster, as happened two years ago when the government was unable to distribute salaries and was forced to reduce the price of the dinar and an unprecedented economic stumble. https://almaalomah.me/2022/02/17/582836/
Iraq And Iran Switch Positions In Import And Export
Baghdad exports to Tehran products and crops estimated at 1.228 billion dollars, after it was an open market for it Shatha Al-Amili is an Iraqi journalist @DonaldTrump Friday February 18 2022 17:58 Fisheries in Iraq are recovering (The Independent Arabia - Mahmoud Raouf)
After Iraq ranked first as the most importing country for Iranian goods, at an import cost of $7.295 billion annually, it was able for the first time to export to it and secure its goods during the last ten months. .
And he ranked ninth among the exporting countries to Tehran, which are, in order, the UAE, China, Turkey, Germany, Switzerland, Russia, India and Britain.
And he ranked ninth among the exporting countries to Tehran, which are, in order, the UAE, China, Turkey, Germany, Switzerland, Russia, India and Britain.
The products exported from Iraq included "wheat, corn, soybeans, barley, oils and sugar."
In addition to its counterpart in fisheries, dairy, livestock and other agricultural products such as Iraqi dates and some vegetable crops, it amounted to more than two million and 660 thousand tons; That is, an estimated $1.228 billion, while the rest of the goods included construction materials and various equipment.
A spokesman for the Iranian Customs Authority, Rohullah Latifi, said in a press statement, "Iraq is still the second largest importer of goods from Iran after China over the first ten months of this year."
He stressed, "Iran's import of goods from Iraq with a volume of more than one million and 994 thousand tons, amounting to more than 920.482 million dollars, with a growth in terms of quantity of 2414 percent and price of 793 percent."
Iran Is The First Trading Partner, Followed By Turkey
During his last meeting with the Iraqi Prime Minister, the head of the Federation of Businessmen in Iraq, Sabih Al-Hashemi, pointed out the importance of controlling border crossings, and stressing that trade exchange is based on import and export.
According to Al-Hashemi, "Iran is Iraq's first trading partner, and the volume of trade exchange between the two countries over the past two years has reached more than 10 billion dollars, and Turkey is ranked second. At a time when the Iraqi government is working to adopt a 100 percent exchange strategy in export and import, Iraq is He didn't get more than 30 percent."
He added, "At a time when businessmen in Turkey are seeking to raise the volume of trade between the two countries to 50 billion dollars, after it exceeded 20 billion dollars last year, Turkish brands exceeded their counterparts in the Iraqi market by 90%."
And "Iraq is the second largest importer from Turkey after Germany, according to 2013 data." According to the head of the Association of Industrialists and Businessmen in Turkey and Iraq, Nawaf Kılıç.
The Khabur border gate between Turkey and Iraq also provides a corridor for the passage of nearly 2,000 trucks daily between the two countries. As it is witnessing momentum, as it is the only gate linking them, compared to nine border gates linking Iraq with Iran.
Therefore, business stakeholders between the two countries are calling for the opening of five additional gates with Turkey to enhance trade exchange ties. The Kurdistan region of Iraq is a center for the distribution of Turkish goods to all parts of Iraq.
The Iraqi Economy Is Rentier
Economic expert Salam Sumaisem started her talk about Iraq as "it was born and was known as an agricultural country in the past, as it depended on it more than oil, but unfortunately with the continuation of wrong economic policies, we had a problem with the transformation of the Iraqi economy into a rentier par excellence, as the dependence on agriculture decreased."
She adds, "But fortunately this year, agricultural exports have increased, and this is an important indicator, but will this continue, especially with the continuation of the drought crisis that Iraq has been exposed to for some time?
At a time when the issue of exports is an important issue in itself because it first enters into the door of diversity in The revenues of the country’s economy, and therefore the revenues of the general budget, secondly activate the private sector, and thirdly, agriculture is more sustainable than oil, because oil is “rentier” i.e. an inexhaustible wealth at a time when agriculture can develop, grow and change the productivity of its lines.
In a previous proposal to Sumaisem with a number of Iraqi economists, she stated, “Even if it was not possible to export agricultural products and the country was satisfied with achieving the vocabulary of the ration card, this means that we have made a leap in this field, so when we say that we have issued, this is a great qualitative leap that gives a sign of hope for the economy.”
The Iraqis have many aspects, the first of which is to diversify resources so that it does not remain a pawn of oil only, and the second is a source of obtaining funds, especially foreign ones, which are usually in dollars, and the third is to encourage the private sector to enter into productive areas other than services.
Support Farmer, Producer And Trader
In the same context, economic expert Diaa Al-Mohsen stressed that "it is imperative for the state to open the door for exports to traders to benefit from the foreign currencies that enter the country through this route, with a surplus of some agricultural crops and industrial products."
He suggests, "Even with the lack of these exports, we must work to encourage them, because the continuity of this gives an incentive to the farmer, the producer and the trader, and to think about raising the quantities and quality of products and crops, if we take into account that the Iraqi agricultural crops are desirable for the Gulf consumer in particular, in addition to the fact that many of Industrial products were also previously circulated in many countries of the world.
He continues, "We believe that farmers and industrial producers started to think differently than before, away from the government, so many of them took care of the commodity they produced and tried to increase its quantities.
Especially in the agricultural sector, which is a matter of material benefit, in addition to being beneficial to the national economy.
Iraq Avoids Conflict
The financial and economic expert, Safwan Qusay, explained, "The oil prices for the year 2021 have increased from what they were in the federal budget estimates, due to the possibility of increasing the level of the country's oil exports in terms of price by at least 15 to 20 billion dollars, and certainly this was compared to 2020," In which oil prices fell by no more than 40 dollars, and gave the impression that the decline in exports in the amount of oil during 2021 was due to the reductions of OPEC and its allies from Russia,
but it rose in terms of value, and this gives an indication of the continuation of the positive outlook for the Iraqi economy, especially with the presence of a balance area in exports It means that Iraq was able to spare itself the conflict zone, and its chances are still high for it to remain so."
He adds, "We can invest this moment in time in order to strengthen our relationship with the global oil markets, whether in the East or the West."
Regarding exports of other commodities, he revealed, "Exports did not rise significantly, whether in terms of agriculture or industry.
On the contrary, the volume of imports increased, especially at the level of agricultural production, as more than 70 percent of foodstuffs are imported."
He added, "There may be some exports of light industries, but they do not constitute more than one to two percent of the volume of Iraqi exports."
The official spokesman for the Ministry of Planning, Abdul-Zahra Al-Hindawi, announced that "the value of commodity exports in Iraq amounted to 4.6 trillion dinars for the year 2020, recording an increase of 19.9 percent compared to 2019, when it reached 3.9 trillion dinars."
And the data of the Central Statistics Agency in its latest annual report shows, "The most important Iraqi commodity exports in the year 2020 were petroleum products, as the value of oil derivatives in dollars amounted to $3.765.3 billion, while the relative importance reached 100%."
The table of exports included fuel, motor gasoline except for trains, oils and lubricants, bituminous mixtures based on natural asphalt or bitumen, petroleum gas or mineral tar, benzene, waste oils, petroleum oils and raw materials.
The value of other commodities amounted to $45.0 million, and their relative importance amounted to 1.1 percent.
The value of commodity exports to Iraq’s most important trading partners in 2020 amounted to $3,765.3 billion.
These countries included India, the UAE, Singapore, Malaysia, South Korea, Iran, Lebanon, Syria, Jordan, Egypt and other countries. other.
Smuggling... a negative impact on local production
Iraqi economist Rashid Al-Saadi says, "Iraq's identity is agricultural and the ingredients for its advancement exist.
Iraq is not currently considered one of the large exporting countries because of its production shortcomings, whether in agriculture or industry, and we all know that agricultural production outputs are inputs to industry, such as manufacturing, food, consumer, textile, and other industries.
Also, the outputs of the latter are considered inputs to the former, such as fertilizers, pesticides, and other agricultural machines, and what negatively affects the internal production in Iraq is the issue of smuggling.
He added, "It is necessary to activate the Production Protection Law of 2010, as it positively affects the increase, development and growth of agricultural production.
In general, Iraq began to export some agricultural products such as dates, fruits and vegetables that are partially surplus to local production, and recently exported quantities of sulfur, with Saudi Arabia, the UAE and Germany leading.".
He pointed out that "the countries importing Iraqi agricultural products, although in small quantities, are a good indicator that calls for stopping and developing it."
And "for the purpose of paying dues for gas exported from Iran to Iraq, Iraq began its talks with Tehran that the return would be to export Iraqi goods and merchandise over a period of three years, and this is a good step towards developing local production as well as increasing the quantities of Iraqi exports." As Saadi explained. https://www.independentarabia.com/node/304946/
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