Iraqi News Highlights and Points to Ponder Wednesday Afternoon 12-13-23


Iraqi News Highlights and Points to Ponder Wednesday Afternoon 12-13-23

Experts: Tightening Supervision Reduces The Price Of The Parallel Dollar

Economical  12/13/2023    Baghdad: Shukran Al-Fatlawi   Specialists in the field of finance and economics stressed that reducing the price difference between the official and parallel dollars further requires tightening control over violators, in addition to the importance of adopting a unified customs system.

Despite the many government measures taken to control this matter, the difference is still huge, as the government sells the dollar at a price of 132 thousand per hundred dollars, while in the parallel market it ranges between 156 – 157 thousand per hundred dollars.

The economic expert, Dr. Nabil Al-Marsoumi, said To “Al-Sabah”: The electronic platform needs to be closely and periodically monitored in order to fulfill the purpose for which it was prepared, because some greedy merchants buy the dollar at the set government price or the import dollar and sell it at the commercial price.

He pointed out the necessity of adopting the issue of monitoring seriously to prevent greedy merchants from exploiting citizens. Al-Marsoumi stressed the importance of having a unified customs system, one tariff, and one tax system, so that there is central control over the border crossings, and so that these procedures do not remain formal and have a limited effect in reducing the gap between the parallel and official prices.

Prime Minister Muhammad Shiaa Al-Sudani recently revealed that 26 billion dollars were not included in the tax system, which was scheduled to enter the state treasury. For his part, economic and financial expert Dr. Mustafa Hantoush told “Al-Sabah”: The tax reduction that was added to some goods And products is a very important and necessary measure.

He explained that paying with the so-called (official dollar) for some goods gives them a lot of ease and comfort during the sales process, as is the case with mobile phone devices and gold, as importers suffer from the difficulty of approval and the tax question, which constitutes a great burden during the import process. Hantoush pointed out that Reducing the tax on cigarettes from 110 percent to 30 percent.

As for medicines, many of them are imported through Kurdistan and are subject to high rates or are banned for various reasons, so the situation must be addressed. He continued that many detergents are charged 50 percent, of which about 5-15 percent is allocated to the region.

It is noteworthy that the Council of Ministers recently took several decisions, including those regulating trade and the importation of some materials and goods, which some merchants are forced to finance from the informal currency market. Foreign financing, and the negative repercussions that such financing would have on the exchange rate.

Therefore, the Council took a number of decisions and measures aimed at facilitating importers of gold goods, cars, mobile phones, and cigarettes from benefiting from the services of the foreign banking financial transfer platform, in a way that makes it easier for importers of these goods to obtain… Financing in foreign currency at the official exchange rate saves them the need to resort to purchasing foreign currency from the informal market.   Edited by: Ali Mowafaq

Al-Bayati: The Oil And Gas Law Does Not Meet The Desires Of The Kurds

Today 11:55   Information / Baghdad… On Wednesday, former MP Jassim Al-Bayati criticized the region’s policy and his position on the oil and gas law after attempts in recent years to pass it in Parliament, pointing out that the Kurds had obstructed the law in recent periods because it did not meet their desires.

Al-Bayati told Al-Maalouma, “When the political parties in the Kurdistan region talk about the oil and gas law, they are lying to themselves, as the law will not be in the region’s interest at all.”

He added, “The oil and gas law will determine the region’s oil exports and imports according to legal frameworks that it will not be allowed to tamper with. Therefore, it will not be in the interest of the region that lied about the oil file.”

He stated that “the Council of Ministers voted in 2007 on the oil and gas law and it was sent to Parliament, but the Kurds stood against this law and prevented it from being passed in the House of Representatives, because they did not want the rest of the oil companies in other provinces to be their partners in the oil file.”   LINK

The Recession Hits The Markets Due To The High Prices Of Imported Goods And Demands To Support The Local Product

By video   2023-12-13 | 06:30  Source:   Alsumaria News   255 views  The capital’s markets are experiencing recession and stagnation, and the reason is due to the variation in exchange rates. Despite all the procedures and holding speculators accountable, the citizen complains of the high prices of most imported goods.   What do financial and business experts think?   LINK

Warning And Warning… Expectations Of The Budget Falling To Less Than $10 Billion And The Iraqi Dinar Collapsing

Economy |Today   Baghdad today – Baghdad   Today, Wednesday (December 13, 2023), economic expert Nabil Al-Marsoumi commented on the COP28 call to reduce the use and production of fossil fuels, while noting that it is an “early warning” to rentier countries, most notably Iraq.

Al-Marsoumi said in a blog post followed by “Baghdad Today” that, “Regardless of how realistic the call made by the COP28 climate change negotiations aimed at reducing fossil fuel consumption and production, in a fair, orderly and equitable manner, in order to achieve carbon neutrality by 2050, This constitutes an early and severe warning to rentier states.”

He added: “Especially for countries that depend entirely on oil, led by Iraq, where oil dominates more than half of the gross domestic product, 99% of total exports, and 95% of public revenues, which is the main source of income, financing and driving economic activities in Iraq.”

He pointed out that “in light of the almost complete absence of commodity activities such as agriculture and industry, and the horrific backwardness in the service and distribution sectors, if one day the world leaves oil or if oil, which is a non-renewable resource, runs out, then the results will be disastrous.”

Al-Marsoumi pointed out that “oil exports will disappear, oil revenues will decrease accordingly, the size of the annual general budget will decrease to less than $10 billion, the Iraqi dinar will collapse, the real incomes of employees and fixed-income earners will decrease, unemployment and poverty will worsen, the Iraqi economy will be completely paralyzed, and the situation will be much worse than what Iraq suffered in The time of the economic blockade 1990-2003.

The economic expert stated, “Hence comes the importance of caution and hard work within the framework of a real development plan in which an important part of oil revenues is used to diversify the country’s economy and activate other non-oil sectors and not make it hostage to one depleted commodity that the world plans to dispense with in the future.”

A draft agreement published earlier confirmed that one of the options for the outcome of the talks was “to gradually phase out fossil fuels in accordance with the best scientific findings.”

Later, another draft was published but it was devoid of the phrase “phasing out,” instead saying that nations should “reduce the use and production of fossil fuels in a fair, orderly and equitable manner.”

While this change in phrase may be seen as small, subtle differences in UN documents can result in huge changes in states’ obligations.   LINK

Provoking Points to Ponder From a Sioux Indian Chief

Quotes From a Sioux Indian Chief That Will Make You Question Everything About “Modern” Culture

Luther Standing Bear was an Oglala Lakota (Sioux) Chief who, among a few rare others such as Charles Eastman, Black Elk and Gertrude Bonnin occupied the rift between the way of life of the Indigenous people of the Great Plains before, and during, the arrival and subsequent spread of the European pioneers.

 Raised in the traditions of his people until the age of eleven, he was then educated at the Carlisle Indian Industrial Boarding School of Pennsylvania, where he learned the english language and way of life. (Though a National Historical Landmark, Carlisle remains a place of controversy in Native circles.)

Like his above mentioned contemporaries, however, his native roots were deep, leaving him in the unique position of being a conduit between cultures.

Though his movement through the white man’s world was not without “success” — he had numerous movie roles in Hollywood — his enduring legacy was the protection of the way of life of his people.

 By the time of his death he had published 4 Books and had become a leader at the forefront of the progressive movement aimed at preserving Native American heritage and sovereignty, coming to be known as a strong voice in the education of the white man as to the Native American way of life.

Here, then, are some quotes from the great Sioux Indian Chief known as Standing Bear that will be sure to disturb much of what you think you know about “modern” culture.

 Praise, flattery, exaggerated manners and fine, high-sounding words were no part of Lakota politeness. Excessive manners were put down as insincere, and the constant talker was considered rude and thoughtless. Conversation was never begun at once, or in a hurried manner.

Children were taught that true politeness was to be defined in actions rather than in words. They were never allowed to pass between the fire and the older person or a visitor, to speak while others were speaking, or to make fun of a crippled or disfigured person.

 If a child thoughtlessly tried to do so, a parent, in a quiet voice, immediately set him right.

Continued …….. More to come in next news post