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/

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.

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.

The five-year plan establishes an effective development state


The proposal to establish a follow up sub – plans
Baghdad / Hussein Tgb
is a five – year plans an important focus in achieving development goals, it included important projects coincide with the human development taking place in the country and
the growing need for services and expansion continuously, which can be informing the user through this kind of plans.

A member of the Baghdad Economic Forum Amer Jawahri said: "The importance of launching the plan for the national economy stems from interfering with the strategies adopted and with the goal of taking concrete actions to clear the economy by focusing on all the basic productive and service sectors and increasing productivity for the individual and institutions and to make extraordinary efforts to achieve the objectives and productivity

and planned service for all institutions And to promote, support and develop all private and private sector businesses and projects to convert a number of public companies into joint stock companies listed in the Iraqi Stock

" Annual plans

He added that "the five-year plan is divided into five annual plans is the annual planning budgets, and the plan is part of a number of plans, which must be to achieve Iraq’s strategy and vision towards 2030, and it is time to develop the vision until the year 2040,

Of the implementation of the measures and steps systematic and serious because its implementation will reflect on the development of serious steps towards achieving prosperity for Iraq. "

It is imperative to meet the real challenge. The challenge is to effectively implement the five-year plan and the sub-plans to put Iraq on the path of the right productive product, in strict accordance with the rule of law methodology, fighting corruption and bureaucracy, and implementing the principle of good governance and stringent standards for selecting competent economic leaders to put them in the right place. Really.

Group participation

"The launch of the plan requires the collective participation of all government institutions, the private sector, civil society organizations, unions, professional, cultural, technical and sports organizations, youth and women’s organizations.

Therefore, we believe that the National Development Plan (similar to the Central Bureau of Statistics) And its sub-plans towards the implementation of plans towards Iraq 2030, a competitive product attractive to investment.

" Education campaigns and the jeweler that "community participation is absolutely necessary for everyone to know the usefulness and reflection of their direct and indirect efforts on the prosperity of society and their children and grandchildren,

to achieve this requires education and awareness campaigns with the establishment of mechanisms to engage those institutions to participate each in the implementation of specific activities," noting that " "It is important and useful to involve all media and the arts in this future national effort."

He pointed out that "the proposed body ensures the diligent professional implementation and the achievement of the results of the sub-plans and the five-year target for long-term vision as the biggest challenge to be an effective parliament and authority by using the people and its institutions the stakeholder …

Therefore, the priorities of the proposed mechanism to establish a mechanism for monitoring, .

Al-Jawahiri said that "the proposal to include the management body of the device representatives of private sector organizations and professional organizations, and the mechanisms of the work of the body and all institutions must be national excellence, everyone must support the procedural steps and the work of the body with historical responsibility.

" Good governance

"The five-year plan is gaining importance because it includes key axes, including good governance and the private sector, reconstruction in the provinces and alleviation of poverty, and focus on the promotion of productive sectors (agriculture and industry)

and increase the production capacity of electricity that move the rest of the sectors to the rate of The plan also includes increasing production capacity in the crude oil sector, providing sustainable employment opportunities, reducing poverty, and launching loans in
liberated areas . "

He stressed that "the implementation of the five-year plan will work to establish the application of the foundations of the development of active social responsibility in Iraq and not rely on the sources of oil in the first place."

Private Sector .. Where?


Hussein Thogb
We are on the threshold of a new stage and in front of the responsibilities of addressing an economic program that everyone hopes to be full of vitality, through the joints that make it imperative for us to be comprehensive to the most productive sectors without exception.

And in the presence of great hopes to activate the Iraqi labor market in all its aspects, because it receives great regional and international attention, and the reasons become known to everyone and recognizes the positive results every specialist on economic affairs on all

We are talking about an economy that is of great importance and a promising market that is of interest to the economies of the region and the world. The reality of this situation requires executive tools that have a high degree of expertise and know-how in these matters, and here comes the role of the national private sector, which should have the greatest role in the development process.

The reality of the economic situation requires the existence of a private sector, a solid citizen has the elements of implementation and planning, developed and qualitative, to be ready for global partnerships implement projects on the ground or undertake projects undertaken by itself after the owner of the data to achieve

The local private sector, which is responsible for managing the economic reality, must be aware of its future tasks and responsibilities in order to be able to address the large building and reconstruction
responsibilities that the country is looking forward to in the
coming period.

The unity of the private sector is important in the development of its capabilities and reflects a bright image in front of the international effort developed.

Here, the professional and economic organizations and unions can play a role in choosing a national voice for the private sector that is representative and demanding its rights instead of dispersing the voice of the sector.

This dispersion weakens our private sector. In spite of the need to be strong in its capabilities as owners of advanced technologies and financial solvency and human resources with the ability to be able to modern systems in the world.

We are at the beginning of a new phase that requires a coherent private sector with a single voice that reflects to the government and the world that it is capable of actively contributing to the construction and reconstruction process with a strong regional voice, especially we know that the first manufacturing plants and production lines in the Middle East were in Iraq more than 70 years ago.

In light of Iraq’s capabilities, the private sector is required to be stronger and more resilient to the world and to the size of the country’s wealth, to be a true supporter of the future construction process, which will start sooner or later, and we hope to see an effective private sector that understands its responsibilities and responsibilities and reflects a clear picture of its past history
and future.

Specialists: the need to balance the import and local production


rely on national production to reduce imports and provide funds for construction and reconstruction is one of the requirements of the next economic phase of Iraq, as finding a balance between the import and national production represents the most successful ways to implement the law of protection of products No. 11 of 2010, especially that the industrial sector in general began to regain He gradually recovered.

According to those concerned with economic affairs, all ministries in their sectors are responsible for putting an end to the indiscriminate importation and dumping of goods in Iraq, although some factories of the Ministry of Industry are witnessing their production equipment, but they are capable of filling part of the requirements of the local market.

Competition importer
The academic economist d. Issam Mohammed that "the Vegetable Oil Company, for example, produces different types of detergents of good specifications and quality, but it is witnessing strong competition from their imported counterparts, which necessitates addressing this phenomenon, which would support the national industry,"

calling for the need to balance the import with production which would provide a lot of money needed for Iraq reconstruction and the reconstruction of the cities affected by terrorism. "

the private sector laboratories capable of producing some goods that are imported now , but these factories face a real problem of electric power , which represents a hub of the competition not represented Cart between them and the importer.

For her part , said economic researcher Lubna Al Shammari: " The market is starting to see the emergence of national food products , particularly those appearing , but this is not the level of ambition, because it does not meet the needs of the public ‘s thirst for national production."

She pointed out that the private sector companies enjoy a good reputation because their production holds a privilege for international companies known in various fields and disciplines. .

A source in the import department of the General Company for Exhibitions and Commercial Services explained earlier to the "morning" the difficulty of providing a study of materials that can be produced locally rather than imported, stressing that "the success of this study depends on the ministries and sectors concerned to provide the company accurate studies on the need and absorption market Of the materials falling within its competence for the purpose of balancing national production and
importation. "

He pointed out that "coordination between the company and the Ministry of Agriculture in the field of food and agricultural imports as the sectoral body responsible for that, indicating that it has statistics on local production and also has an agricultural calendar to prevent the import of some materials produced locally."

He pointed out that "this coordination has resulted in self-sufficiency of some seasonal agricultural crops, which is reflected positively on the national economy in general, calling on other sectoral ministries to follow the Ministry of Agriculture in this direction to promote stability in the local market and to find a stable and stable budget to know the needs of the market and what can be produced locally And to compensate for the shortage of imports. "
In 2016,

the Public Company for Exhibitions and Commercial Services issued a list of banned items for consumer protection, while an economist called for expanding this list to include all materials that could be manufactured and produced domestically, limiting the flow of money to unnecessary imports.

He called the academic economist d. Majid al-Bidhani to expand the list to include all that can be produced inside Iraq, which is the supreme economic interest of the country.

And the need to expand the list of articles prohibited to import according to the controls and studies carried out by a specialized team of the relevant sectoral ministries to determine what can actually be produced and what is difficult or can not be produced is compensated by the imported standard.

He pointed out that the economy of Iraq suffered greatly from the waste of money on the import of luxury, which requires speeding the review of this file to reduce the exit of funds, indicating the importance of directing productive investments in the sectors of industry and agriculture because the market absorbs their production and also are able to achieve a large proportion of self-sufficiency .

Call for economic development that takes into account local privacy


Baghdad / Emad Al-Amara
A number of economic and service activities in Iraq have become a burden on the public budget and draining resources, according to a specialist, to re-examine economic activity and services in a way that leads to economic development by optimizing economic resources and diversifying the contribution economic sectors in the gross domestic product, taking into account local specificities of the country ‘s
academic economist , d.

"The processing of electric power in Iraq, as a service sector in general, has been declining since 1990 and became almost devastating after 2003, prompting the private sector through private generators to fill part of the tasks of the public sector in providing energy to citizens."

"If we look at this situation, we will find an automatic privatization of this sector without the intervention of the government.

This situation could have been directed towards organized privatization with economic and legal frameworks," Moussa said in an interview with Al Sabah. Activity and the persistence of spending very huge sums last privatization of this sector, "adding that" recently there have been modest attempts to implement privatization in the field of electricity in terms of the collection of wages.

" Administrative pricing Moussa added that " the dominance of the public sector on the electricity sector does not prevent the cancellation of administrative pricing of units consumed and bring economic pricing commensurate with the value of the service provided, and think about trends in privatization through management contracts with the private and foreign sector," he said . "

The transport sector
explained that "the transport sector, land, sea and air, has also witnessed in previous years a collapse in its infrastructure, but the private sector was able to carry out the activity of land transport, local and external people and goods with merit."

"Transport by railways has not been privatized even though it is a successful and successful project, especially if the dry canal between the Gulf states and Europe is implemented," he
said, adding that privatization of maritime transport, which hit its infrastructure at that time,

"The telecommunications and postal sector has also suffered damage, but the private sector has taken over this service activity almost entirely, despite the prevention of monopoly and the availability of competition and the provision of sophisticated services that satisfy the need for such activity as is happening in other countries.

" Feasibility and Reform
Moussa stressed that "there is no economic feasibility of spending large sums to revive these activities or develop them, which highlights the need for private sector local and foreign investment in these activities and remains the role of the State in the management of air and sea ports and the main stations of rail," explaining that " the foreign private sector at this stage that requires the acquisition of expertise
and technology ".

hdd that" economic reform , the adoption of privatization as part of the solution has become an urgent necessity, as it is possible to benefit from stabilization policies and structural adjustment to achieve economic reform, provided that adapt those programs Insulting the reality and the circumstances of Iraq. "