Iraqi News Highlights and Points To Ponder Sunday AM 6-9-24

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raqi News Highlights and Points To Ponder Sunday AM 6-9-24

Reconstructing Iraq: The Role Of Banks In Financing The Future

Time: 06/08/2024 20:27:26  Read: 2,067 times  {Economic: Al-Furat News} Reconstructing Iraq after years of wars and conflicts represents a great challenge, but it also represents an opportunity to rebuild a strong and sustainable economy.

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Banks play a crucial role in financing reconstruction, by providing the loans and credit facilities necessary to finance construction and infrastructure projects.

The Iraqi Deposit Insurance Company played an important role in enhancing the confidence of investors and depositors in the Iraqi banking system, which made it easier for banks to obtain the necessary financing for reconstruction. It is estimated that Iraqi banks have provided loans worth more than $10 billion to finance reconstruction projects in recent years.

Germany’s experience after World War II is an inspiring example of how banks can play a crucial role in the country’s reconstruction. The KfW German Development Bank has contributed to financing many vital projects in Germany, such as rebuilding industrial and residential infrastructure, and providing financing for small and medium-sized companies.   LINK

The Immaturity Of The Baghdad And Washington Agreements Prompted America To  Extend State Of Emergency

Policy  Political:  Information / Baghdad…Political analyst Ibrahim Al-Sarraj believed that the immaturity of the agreements between Iraq and America was behind the US administration’s move towards extending the state of emergency for the presence of its forces inside Iraq.

Al-Sarraj told Al-Maalouma, “Biden renewed the state of emergency for the presence of his military forces inside Iraq, and he based this extension on the outcomes of his meeting with Prime Minister Muhammad Shiaa Al-Sudani during his recent visit to Washington.”

He added, “The government’s talk about scheduling the withdrawal of foreign forces from Iraqi territory never culminated and did not reach the level of an official agreement with the American administration.” Ended 25 n.  LINK

Baghdad Praises Its Financial Budget And Confirms: We Have Important Projects In 2024

Reconstruction and building  Economy News – Baghdad  Today, Friday, the Governor of Baghdad, Abdul Muttalib Al-Alawi, announced a package of projects in various sectors within the budget for the current year 2024, while confirming that the governorate’s allocations in the budget were good.

Al-Alawi said, “The financial allocations to Baghdad Governorate within the current year’s budget, 2024, are good,” explaining that “the government and the Parliamentary Finance Committee have an understanding and knowledge of the real needs and required resources in Baghdad.”

He added, “There is continuous communication with the government to meet the special needs required for the projects that will be implemented.”

He pointed out that “the governorate has several important projects during the 2024 budget, including projects in the water sector and building schools and roads, as well as the construction of pedestrian bridges that will be implemented in all areas of Baghdad, the paving of main roads, and strategic projects for sewers at the four entrances to the capital, in addition to the almost completed hospitals, which are “Health centers and strategic water projects will be opened soon.”

He stressed that “all project packages will be placed on the list of priorities of Baghdad Governorate in stages of implementation, whether within last year’s 2023 budget or in the 2024 budget.”

219 views  Added 06/07/2024 https://economy-news.net/content.php?id=44096

The Region Is Saturated With An Explosive Budget.. Since When Is “Laqmat Al-Sayyad” Kurdish?

Policy: June 8  Information/private..  The southerners learned from the Sumerians to fish in order to live on the flesh of fish in the rivers and marshes, and to provide a decent life for themselves and their children. We have not heard of a Kurd in the mountains of Iraq who is more skilled than a southerner in this profession, and every rule has its exceptions in this matter. Then the most prominent thing that distinguishes a fisherman during eating What he caught was a favorite morsel called the “fisherman’s morsel,” which was boneless and tasted the most beautiful of all the meat in the fish.

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Except in the 2024 budget, the regional government clearly excelled in a wonderful fishing method through which it was able to reap 12-17% of the Iraqi money fish, and this percentage is what we called “the fisherman’s bite,” a round that the Kurds won with the approval of the center or against its will.

*Little Revenue

Speaking about this file, a member of the Finance Committee in the House of Representatives, Moin Al-Kadhimi, revealed that the region’s share in the 2024 budget amounts to 12.67%, excluding governing and sovereign expenses.

Al-Kadhimi said in a statement to the “Al-Ma’louma” Agency, “The regional government only handed over 85 billion to Baghdad in non-oil revenues, which is an amount that is not proportionate to the actual revenues,” noting that “the region’s share of the budget amounted to 12.67, of the actual budget expenditure, which is excluded.” “Governing and sovereign expenses.”

He continues, “The region is not honest with the Baghdad government, and there is significant oil smuggling, in addition to the failure to control border crossings and non-compliance with General Customs Authority fees, which greatly affects the country’s economy,” pointing out that “the regional government’s lack of transparency with Baghdad is not in its interest.” “It will cost her a lot.”

Al-Kadhimi concluded by saying: “The central government in Baghdad must monitor the work of the border crossings in the region periodically by sending committees to inspect and audit those crossings and find out the entry fees for materials into Iraq.”

The region is saturated with an explosive budget.. Since when is “Laqmat al-Sayyad” Kurdish? E91f5d58-1a96-4cbd-8a7d-eb2d1b00d5c4The region is saturated with an explosive budget.. Since when is “Laqmat al-Sayyad” Kurdish?

In addition, a member of the State of Law coalition, Saad Al-Muttalabi, revealed the region’s share of the 2024 budget, while confirming that it is considered the largest “explosive budget” in the history of the region, describing it as explosive.

Al-Muttalabi said in a statement to the “Al-Ma’louma” agency, “The region’s budget for this year is the highest in its history, as it reached more than 17% of the general budget, which totals 211 trillion dinars,” noting that “the region’s salaries are paid directly from Baghdad at a rate of 70%.” , of the region’s budget, and 30% that no one knows anything about.”

He continues, “The political blocs in the House of Representatives voted on the budget tables and witnessed no objection except from independent representatives, which means that the political blocs are involved in increasing the region’s share in exchange for a reward and large projects,” pointing out that “the political blocs are involved in granting the region an explosive budget.” Because of their vote on the budget and its passage.”

Al-Muttalabi concludes in a recent statement: “The amendment of the schedules by the government and granting the region an explosive budget was followed by support from the political blocs by voting on them, indicating that the government and political parties are involved in this unfair financial distribution.”

It is noteworthy that the region’s share in the 2023 budget amounted to 16 trillion and 690 billion dinars, while former member of the Kurdistan Regional Parliament, Jihad Hassan, stated that the region’s share in the year 2024 amounted to 20 trillion and 900 billion dinars, an increase estimated at 4 trillion and 210 billion dinars. LINK

Provoking Thoughts and Points To Ponder On Adversity

Prosperity tries the fortunate; adversity the great.  – Pliny the Younger

Be willing to have it so; acceptance of what has happened is the first step to overcoming the consequences of any misfortune.   – William James

If all our misfortunes were laid in one common heap, whence every one must take an equal portion, most people would be content to take their own and depart.  – Solon

I never knew any man in my life who could not bear another’s misfortunes perfectly like a Christian.  – Alexander Pope

When the world has once begun to use us ill, it afterwards continues the same treatment with less scruple or ceremony, as men do to a whore.  – Jonathan Swift

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