Iraq joins the Asian Investment Bank’s Infrastructure Agreement

The cabinet on Monday approved the draft law on Iraq’s accession to the Asian Investment Bank (AIB) agreement.

"The Cabinet approved the draft law on Iraq’s accession to the Asian Investment Bank’s Infrastructure Agreement, which entered into force on 15/12/2015," the Secretariat said in a statement.

"The council decided to refer the bill to the parliament, based on the provisions of Articles 16 and 80 of the constitution, and the decision to send the request to join the Asian Investment Bank for infrastructure after completing the legal procedures stipulated in the treaty, 35 "for the year 2015".

The statement said that "the Council granted in its resolution above a subsequent leave for the signing of the Undersecretary of the Ministry of Finance, a request that includes Iraq’s desire to join as an observer of the Asian Investment Bank for infrastructure on the basis of the provisions of Article (6)…5%D8%A7%D8%B1/

Economic Advisor: In 2022 Iraq will pay $ 10 billion of its debts


The adviser to the Prime Minister for Economic Affairs, the appearance of Mohammed Saleh, on Monday, that Iraq will pay 10 billion dollars of debt in 2022, indicating that Iraq has a good credit rating.

"Iraq will pay its debt, which will not be less than 10 billion dollars in 2022," Saleh said in a televised interview.

He added that "the government must hedge from now to pay these large debts through the establishment of a fund to compensate the debt by putting funds in it annually," stressing that "Iraq is able to pay these debts, especially after Iraq obtained a good credit rating, That Iraq has not been late to pay the debts incurred previously. "

Iraq has received foreign debts from the International Monetary Fund and the World Bank, in addition to internal debt by offering private equity bonds to finance its public budget, which was heavily affected by the decline in international oil prices, which Iraq depends mainly on its public budget. 9%8A-%D9%81%D9%8A-%D8%B9%D8%A7%D9%85-2022-%D8%A7%D9%84%D8%B9%D8%B1%D8%A7%D9%82-%D8%B3%D9%8A%D8%B3/

Legal expert The new parliament is expected to hold its first session in early July


A legal expert expected that the new parliament will hold its first session in early July according to the constitutional timing after the expiration of the period specified for appeals and the issuance of a decree by the president of the republic to hold the first meetings.

The current House of Representatives held a deliberative session yesterday, attended by 105 members, called by the President of the Council Salim Jubouri, to discuss the electoral process and doubts that accompanied the announcement of the results.

"In spite of the confusion over the results of the elections, the new parliament will hold its first meeting in the period specified for them in accordance with the constitutional legislation," according to the decision of the Council Niasi Amaragoglu, who confirmed on Sunday, "morning", "The ball in the court of the Federal Court of In resolving the issue of election results. "

He predicted that "the objections and appeals will not change anything, as the results will go as they are."

For his part, the legal expert Tariq Harb, said in a statement to "morning", "The date of the new parliament session will be on July 1, 2018, which is the deadline for the end of the current parliament," noting that "the current period of appeals opened now, and after the appeals there 3 days to appeal the decision before the electoral judiciary set by the law, and there are 10 more days the judiciary must end all appeals,

and then there are 10 days to ratify the Federal Supreme Court, and then the current President of the Republic to issue a presidential decree to invite winners to hold the first session during 15 days ".

The war that "the remaining period is sufficient to complete all the procedures for the holding of the first meeting, excluded at the same time," the current parliament will hold any meeting in the coming days. "

Damaged currency causes great suffering and embarrassment to citizens


Some circles do not accept dealing with them
Baghdad / Huda al-Azzawi

The Iraqi citizen may be one of the few citizens in the world, who complain about not accepting the deal in the national currency torn or damaged by some departments or institutions or shops, which causes him many problems and verbal quarrels may reach sometimes to conflict with hands in full view of The concerned authorities that did not issue a clear and direct order obligates everyone to deal with the currency in any way.

Currency torn within salaries
Al-Sabah spoke with more than one official and a citizen in order to shed light on this problem.

"At the end of each month, we allocate more than (200) thousand dinars of the currency torn apart equally among the employees of our district," said a member of the committee to receive salaries in a state department.

The employee, who did not want to be named, said that «a lot of problems and verbal quarrels occur between us and the trustees of the Fund, who insist on handing over sums of money smuggled and affixed on both sides, beginning with the employee’s suffering in how to manage this currency rejected by most dealers, Cabs to shop owners ».

She cautioned the employee that all this is happening as a result of the absence of a number of measures and means that the Central Bank of Iraq to take to maintain the prestige of the currency and ease of circulation in the markets.

Currency exchange

As for the burning or buried currency, Hassan pointed out that it is submitted to the Central Bank exclusively to replace them according to certain controls, noting that the bank is working on its part to solve this problem through the processing of Rafidain Bank and Rashid new banknotes and small categories to pay within the salaries of employees,

He pointed out that t
he bank continues to print and improve the banknotes, especially small groups, and pump them to compensate for the damaged paper, while at the same time preserving the currency and accepting it whatever its status as a symbol representing Aadh country and inform the bank in the case of refusal of banks received the damaged currency of citizens.

The suffering of the working class
For his part, said the citizen Rafie Abdul Latif MP, that the working classes and poor are the most social groups are vulnerable to deal with damaged currencies, because this segment traded in many of them, in addition to the same currency to factors that lead to damage early, such as moisture and wet and other It is noteworthy that even the gas stations have refused to accept the torn paper currency,

Therefore, the government and the concerned parties should enact laws to protect the currency as is the case in a number of foreign countries that have issued legal provisions criminalizing those who refuse to deal with them if they are torn or

Stamping of coins

On the re-minting of the coin for small groups and thus salvation from the problem of extinction of the currency currently in circulation, drew Professor of Economics, University of Nahrain Dr. Ngham Hussein Nima, that there were attempts in 2005-2006 to issue a coin of 250 dinars and 100 dinars and 50 dinars and 25

But the loss of the culture of trading in small metal groups among the public forced the Central Bank to stop circulation and convert it into scrap metal and sell it to a trader, so before taking any steps for the introduction of the coin must propagate the culture of trading in small metal categories

And this is certainly the responsibility of the Central Bank of Iraq through the dissemination of financial culture among all segments of the society and openness to the public to raise financial awareness among their ranks and to indicate the importance of dealing with metal groups And keep the currency

Measures to protect the currency
to that said economic researcher Hassan Jamg, said the currency ‘s strength will be in a positive state with the power of the state, the larger the strong and stable state and the economy in the active state, the same presence and effectiveness in the transactions of internal and external of this currency,

and no secret that most communities and nations take A number of measures and means to preserve this currency and to attempt to secure its material and moral status from any external influences that may be natural or by an effective act, such as the case of currency fraud or smuggling abroad,

it may be among the solutions to emphasize the need to respect National currency and dealing Regardless of their condition, and in the case that the currency is very tired or in poor condition, such as torn or semi-damaged, the obligation of government agencies to facilitate the taking or retrieval, and then delivery to banks or the competent banking authorities to destroy them and issue a new currency instead of that damaged.

International Monetary Fund: Iraq’s economy will improve in 5 years


The program ‘s credit path optimization
Baghdad / Emad Emirate
International Monetary Fund predicted that Iraq failed to curb public spending and control of the financial inability to maximize its resources and non – oil, while maintaining the level of economic performance is acceptable through a number of economic indicators for the years 2016/2022.

"The estimated program agreed between Iraq and the International Monetary Fund, and expectations of the economic and financial situation until 2022, indicate that the Iraqi economy will move towards achieving the credit ceiling of the Fund.

"The gross domestic product, which fell from 234.6 billion dollars in 2013 to about 171.7 billion dollars in 2016, because of the decline in oil prices in that year," and expected to "return to increase the value of GDP in the coming years to reach about 256 billion dollars In 2022, after the improvement in oil prices and increase the quantities exported to more than 4 million barrels per day and a barrel of exchange.

" Real output continued, expectations indicate that the "citizen ‘s share of GDP began to rise from $ 4533 in 2016 to about $ 5806 in 2022, the rise in real output rates to 2.1 percent in 2022, and the rise in real output of non – oil from the negative rates of rates over the years 2014/2016 to about 4.1 percent in 2022.

" Pressing expenses

"The measures by which the government seeks to maximize revenues and pressure public expenditure will boost public revenues, which will increase in accordance with the expectations of the International Monetary Fund in the coming years to reach 33.1 percent in 2022," he said.

Non-oil revenues For his part, said the academic economist d. "According to forecasts, public revenues will return to a higher percentage of GDP as a result of the relative improvement in oil prices and an increase in expected export capacity over the next five years, which is reflected in the increase in oil revenues that have taken the same direction as the general federations ."

He stressed in an interview for "morning" that "non-oil revenues are found to take the expected improvement according to the reform program committed by the government to the International Monetary Fund to increase the proportion of the lowest level in 2014, which amounted to 2.1 percent to about 5.5 percent of gross domestic product in 2022" .

Deficit reduction added Hisham "for public expenditure Vtaatouka IMF indicators fall to 31.1 percent in 2022, which can be through this reduction to reduce the deficit in public budgets and to achieve a balance between revenue and expenditure."

He pointed out that "the biggest reduction will be not in current expenditures, but in the capital expenditure, which is expected to decline from 22.6 percent in 2014 to no more than 8.6 percent of GDP in 2022, which will reflect the government’s ability to develop public services and infrastructure "He said.

Special: Cooperation between the public and private sectors is the key to industrial development

The industry looks forward to the production of traffic signs
Baghdad / Hussein Thugb
The cooperation between public sector productive and service institutions is an important center for supporting national production and activating it, and achieving major economic goals in light of the trend to develop national production in all its aspects and cover the largest proportion of the needs of local markets.

In the meantime, the General Company for Steel Industries revealed the signing of three contracts with the Municipality of Baghdad for the rehabilitation and manufacture of traffic signs in the capital Baghdad on both sides of Karkh and Rusafa.

The signing of contracts
, said Director General of the company ‘s engineer Jalal Abbas Hussein in a press interview that " the signing of these contracts is the first of the work of the plant traffic signs after his rehabilitation and opened by the Minister of Industry and Minerals Engineer Mohamed Xiaa Sudanese in the past month of March,

adding that "there ‘s overtures for the purpose of manufacturing Traffic signs on the airport road, explaining that it is hoped to sign contracts in the near future with some security agencies to manufacture car numbers according to international standards approved.

Progress plans
"Iraq is capable of being at the forefront of industrial countries in the region, if this approach is accompanied by phased plans that promote national production gradually and systematically in cooperation with major industrial blocs around the world," said Aqil al-Nouri.

He pointed out that "the most important steps should be to encourage the national industry to be adopted by public institutions, especially as they are manufactured in accordance with international quality standards, and under the supervision of the standardization and quality control, which requires all parties to work together one hand to promote national production and support from During its adoption of various requirements. "

He pointed out that "Iraq has the fundamentals of promoting the national production of natural resources and human resources, adding to the geographical location among the countries of the world, where it can invest in the establishment of major industrial cities in Iraq aimed at the products of the East and West markets, On industrial investment in Iraq.

" Attracting investment in turn President of the National Business Council Iraq Dawood Abdul Zayer in between more than an economic occasion the importance of working on the establishment of the major economic city in Faw district far south of Iraq (FAO economic authority) that can industrial and commercial investments attracted to Iraq to be a global trading center provides all the requirements of The work of international companies specialized, pointing out that "this city is achieving great economic growth for Iraq and address the biggest problems in our production sector."

General Manager of the company Engineer Jalal Abbas Hussein said that "the company has made offers to the security authorities to manufacture car numbers on the German side and was agreed in principle and the preparation of a contract form it," at the same time,

"the company to manufacture a model numbers of several parties
in cooperation with one of the investors specifications High quality to be a breakthrough for cooperation during the coming period.

" A future plan said Hussein that " the company has a future plan to announce the traffic signs plant as an investment opportunity in order to develop the lab is fully equipped and integrated production lines for the manufacture of traffic signs guidance and advanced cars on the numbers of foreign or German Similarly according to the requirements of the General Directorate of Traffic."

The Minister of Industry and Minerals, Engineer Mohamed Shi’a al-Sudani, opened the Traffic Marks Laboratory on 12 March after rehabilitation and adding some machines with self-sufficient capabilities to cover the needs of the Ministries of Interior, Construction, Housing, Municipalities and the Municipality of Baghdad from various signs of significance and publicity.

Economic events awaiting the global markets


During this week
Capitals / follow-up morning

The world markets are receiving a new week of important political and economic events amid central banks’ control of the scene. Several central bankers are also scheduled to speak on different occasions giving their views on monetary policy, as well as a number of central banks

Markets are also awaiting the presidential elections in Venezuela in conjunction with the economic problems experienced by the state.

The start of the week Many European markets are trading at the beginning of this week, with trades resuming on Tuesday.

Germany, France and Switzerland are among those markets celebrating Monday White Day. Central Bank Presidents The President of the Bank of England and the Chairman of the Federal Reserve are speaking on various occasions this week.

On Thursday, Bank of England President Mark Carney is due to speak at the Bank of England’s Markets Forum in London. On Friday, Carney and Jerome Powell are scheduled to take part in a panel discussion on the future of central banks at a Stockholm conference.

OPEC meeting

OPEC holds its monthly meeting on Monday, in the presence of the 13 member states along with 11 other oil-producing countries.

In OPEC’s regular meetings, developments in the oil market and levels of production and demand for crude are discussed. While the monthly report of the Organization of the increase in production in April by 12.1 thousand barrels per day to 31.930 million barrels per day.

European and the minutes of the Federal European Central Bank and the Federal Reserve announced the minutes of their last meeting over the weekend, which is often released after 3 weeks of the bank meeting.

On Wednesday, the Fed will announce its meeting at which it decided to set interest rates at 1.50 to 1.75 percent, a move that has been approved.

The European Central Bank is due to release minutes of its meeting on Thursday on interest rate stabilization, with interest rates on major refinancing and interest rates on lending and deposits at 0.00 percent, 0.25 percent and 0.40 percent respectively.

VENEZUELA, Venezuela – Venezuela held its presidential election on Sunday at a time of huge economic problems ranging from currency collapse to rising inflation, along with a lack of oil production.

Five" alliances "Shiite" and three blocks "Sunni" and "Kurdish" to form the largest bloc in Iraq

According to the scenarios put forward, it appears that in Muqtada al-Sadr, "Sadr" and Haidar al-Abadi "victory" and Ammar al-Hakim, "national wisdom" are the closest to ensure the formation of the largest bloc through the alliance with Sunni parties such as Osama Nujaifi "coalition decision" in addition to Iyad Allawi

" The coalition of the Kurdistan Democratic Party led by Massoud Barzani, the other bloc, which weaves its strings with a clear Iranian consultation is the "conquest" led by Hadi al-Amiri and "State of Law" led by Nuri al-Maliki and the Sunni party, "Baghdad Alliance" led by Jamal Karbouli Kurdish parties are on the Defeated the National Union of change, this is what referred to the Middle East newspaper in a report published today.

The newspaper said that "began to fly here and there test balloons by the winning blocs, especially the large and medium on the formation of the largest bloc that will cost the formation of the next government," noting that "these balloons began to fly ahead of the announcement of the results yesterday morning by the Electoral Commission for elections officially, Although it was probably known to all by more than 90 per cent.

No one expected that 10 per cent if there was a change in seats and rules could change the political equations that States, parties and parties began weaving on unsuspecting fires, High shed light And the challenges in the region , " noting that" about three days before the announcement of the results turned Hananah in the city of Najaf as a kiss for politicians and ambassadors together. "

The young cleric Moqtada al-Sadr won the surprise and upset the balance of the largest votes, "54 seats" of the total seats in the parliament, "329 seats," noting that " Prime Minister Haider Abadi was the first well-wishers and leader of the wisdom movement Ammar al-Hakim, ,

While the congratulations came to Sadr even from the Kurdish leader angry at him from Baghdad after the referendum, Massoud Barzani, the ambassadors of Saudi Arabia, Turkey, Syria and Jordan visited the Sadr in his home, blessed and wondering what in the quiver of this man who in the way of his alliances can be the next form of the next government But the shape of the nakedness S whole.

He said that "the announcement of the results did not close the curtain on what has been achieved, has called for 90 deputies to convene an emergency session of parliament to discuss what they called the fate of the electoral process following complaints and appeals and problems in the counting and sorting,

but the Commission’s announcement of the results at dawn yesterday cut the majority of doubts opened the door only The Parliament has not been able to hold the emergency session, which was surrounded by its president Salim al-Jubouri, who lost the electoral round after his alliance with former Prime Minister Iyad Allawi,

to a deliberative session has no effect can result, Ao " The elections are a way for the people to achieve stability, and the integrity of this means must be preserved and removed from all suspicions.

Iraq and its people are more important than the victory of people and political blocs," said Jabouri in a spirit that appeared to be mathematical to his loss that seemed surprising to many .

The newspaper said, "Although this map is still a breakthrough, so if the news of the possibility of withdrawal of the Virtue Party," 7 seats "of the coalition of victory, led by Abbadi, the equation may become more difficult only if the disintegration of one of the blocks or the opposite bargains in the form Temptations on positions and positions, which means that there is not yet a clear hope that a political majority government will be formed in exchange for an opposition minority . "

Abadi: Iraq will see great progress if I become prime minister again

Prime Minister Haider al-Abadi vowed on Sunday that Iraq would witness a "dramatic development" at various levels if he were re-elected prime minister again, while noting that his government would spare no effort to ensure the transition process to the next government.

"My government will spare no effort to ensure the transition to the next government in a transparent and stable manner, which will create the basis for a strong democratic system based on the rule of law," Abadi said in an article in the Washington Post.

"We have called on other alliances to form a government based on the following criteria: a reform agenda that continues to build on the political successes of the current government, economic well-being, maintaining our non-partisan diplomatic stance towards other countries, mutual interests, protecting our security gains,

"Adding that he would not" agree at any stage to work with those whose hands were stained with corruption or those who knew about the practice of sectarianism. "

He added that "the incoming ministers must be from the technocrats and the new government must be characterized by the prominent non-affiliation to any elite and be representative of the people rather than subject to the domination of a particular party or class,"

pointing out that "there are three concerns placed by the Iraqi top priorities Regardless of its belonging, namely: fighting corruption, providing jobs and improving services.

These priorities are an eye to which he has committed himself. "

"Today, I declare to my people that we will witness a dramatic transformation in Iraq over the next four years if the affairs of the government are good," he said.

"In my view, I will reform our country’s economy, eliminate corruption and create jobs for millions of young people who constitute the majority of the population. Country ".

"If we are elected prime minister again, we will struggle to achieve these fundamental developments every day of my leadership of this country," he said.

The role of economic morning


Dr.. In the name of Brahimi, the
press in Iraq continues to be an important factor in the formation of collective opinion in all areas despite the entry of social media as a strong competitor, but a few of these newspapers succeeded in the economic field by keeping pace with the events we witnessed during the last stage,

New if we say that the morning comes in the forefront of its sisters from the Iraqi newspapers, so that it became a platform for all and different aspects of intellectual and school science in

What counts for the morning is not only keeping up with the events, but also taking the lead in many times in news and information, as well as its role in motivating and taking care of many important topics and putting them under the spotlight and at the dialogue table with a group of specialists to diagnose the economic imbalances through constructive criticism in a process matured by experience to reach what is It is

The process of maturity has been the objectives of the economic morning, it seeks to raise the level of professional and treatment in the impartial opinion to serve the highest goals of the country away from the goals of self or interim and this is clear today where it could declare it as a page for all without exception, Professionalism and impartiality.

As I say, my testimony is insulted to the economic page and its employees because I have a brotherly relationship that has been consolidated during the experience of writing the weekly column since more than one year, prepared by one of my best experiences in writing to the press.

Economic woes that we believe are important to the general public and the economists in

The morning has contributed during the last year to at least the coverage of many important topics and may be the most prominent coverage of the activities of the week of financial inclusion, which was established in cooperation between the Central Bank of Iraq and Iraqi banks and this coverage was not just a press duty as much as it was a national duty to the importance of awareness in this

The important project that is being worked out now in Iraq, finally a word of thanks should be given to all the workers in the morning and especially the brothers in the economic page with my wishes to all with success and every year and morning okay.