TNT – “Tidbits From TNT” Friday Morning 9-13-2024

Tishwash:  Washington accuses Iraqi militias of targeting US diplomatic facility in Baghdad

The United States accused   Iraqi “militias” allied with Iran of targeting a US diplomatic facility in the capital, Baghdad, and vowed to respond. It called on  the Iraqi government to do its part to protect diplomatic facilities. Camp Victory, which houses US soldiers, west of Baghdad, was subjected to a rocket attack on Tuesday night, in an operation that came days after Iraq announced that there was no official and fixed agreement on a date for ending the international coalition’s mission and withdrawing US forces from the country.

On Friday, the US Embassy in Baghdad said in a statement that “last Tuesday, the Diplomatic Support Complex in Baghdad, a US diplomatic facility, was attacked, but fortunately no casualties were reported,” stressing that “evidence suggests that the attack was launched by Iranian-allied militias operating freely in Iraq.”

The statement indicated that “the Government of Iraq has repeatedly expressed its commitment to protecting diplomatic missions, as well as US military personnel who are in the country at its invitation,” renewing its call on the Iraqi government to “protect our diplomatic and coalition partner personnel and their facilities.” It added, “We reserve the right to defend ourselves and protect our personnel anywhere in the world.”

The attack came hours before Iranian President Massoud Pezeshkian was due to visit Iraq, and occurred despite Iraqi forces taking tight security measures in the capital. No Iraqi faction has claimed responsibility for the attack, and the Iraqi Hezbollah Brigades, allied with Iran, called on the government to uncover the perpetrators. “Targeting Baghdad airport at this time is carried out by suspicious hands, and its aim is to disrupt the Iranian president’s visit to Baghdad, and we call on the security services to uncover those involved,” said Hezbollah Brigades military spokesman Jaafar al-Husseini.

For its part, the Al-Fatah Alliance, an Iraqi political alliance with parliamentary and government representation that includes a number of armed factions, considered the attack “an attempt to confuse the cards and direct blame at the resistance factions.” Ali Al-Fatlawi, a member of the alliance, said on Thursday that “the factions will not be afraid to declare any action they take. The attack aims to embarrass Prime Minister Mohammed Shia Al-Sudani and create a gap between the resistance factions and the government.” He stressed that “the operation, in all its details, confirms that the resistance factions have nothing to do with it, neither directly nor indirectly.”

In February, bilateral talks between Baghdad and Washington resumed regarding the withdrawal of international coalition forces from Iraq, with the adoption of a “deliberate and gradual reduction”, leading to the end of the mission of the international coalition forces to combat ISIS, according to official Iraqi statements. However, the Security and Defense Committee in the Iraqi parliament expected that the recent attack would push the US side to a new military response against some Iraqi factions, especially since the Americans exploit any opportunity and circumstance to target those factions.   link

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Tishwash:  Parliamentary Finance Committee confirms that it will soon resume its investigation into changes made to the General Budget Law tables

The Parliamentary Finance Committee confirmed that it will soon resume its investigation into changes to the general budget law tables that were officially approved by the Council of Representatives, and objected to by the Prime Minister’s Office.

Committee member, MP Moeen Al-Kazemi, said in a statement to the National Iraqi News Agency ( NINA ), that “the parliamentary investigation committee assigned by the Finance Committee will resume its work soon, to determine the reasons for the change in the general budget tables officially signed by the Speaker of Parliament and sent to the Council of Ministers.”

He added, “The government is working with its tables approved by the Council of Representatives, and there is no financial damage to the public treasury,” indicating, “The work on the general budget ceiling of 226 trillion dinars has been suspended, and the government is proceeding with implementing its tables that were approved by the Council of Representatives.” He explained

“The Parliamentary Finance Committee is following up on the reasons for the difference between the government version of the general budget tables and the paper and electronic version of the Council of Representatives.”  link

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Tishwash:  Unprecedented renaissance.. Iraq’s economy recovers and its debts fall to “lowest levels”

The country has witnessed an unprecedented economic renaissance, as ambitious government plans have achieved remarkable successes, most notably food security, achieving self-sufficiency in grains, stimulating markets and creating competition between them, in addition to economic growth and reducing foreign debt to its lowest levels.

The financial advisor to the Prime Minister, Mazhar Muhammad Salih, said: “The government has worked to establish a solid food security system based on the successful integration of agricultural and financial policies,” indicating that “government support for grain producers has been a safety valve in encouraging agricultural production of grain crops, which in turn has encouraged farmers to provide nearly 6 million tons of grains during the year 2024, which is the quantity that matches the country’s need for grains, and is considered one of the gateways to self-reliant food security,” according to the official agency.

He explained that “these measures were accompanied by providing the food basket with types and quantities that affect the lives of 40 million citizens, in addition to the move to revive the markets, which is a type of competitive commercial investment.”

He pointed out that “the General Company for Central Markets is one of the formations of the Ministry of Trade, as it announced its new policy last March, that it will continue to refer its sites and markets to investment in accordance with the requirements of Investment Law No. 13 of 2006, as amended, in order to achieve economic balance and support the Iraqi consumer.”

He added that “the marketing policy of the General Company for Central Markets, through the strategy of partnership between the state and the private sector, has undertaken to activate a pattern of market stability by providing competitive marketing outlets that meet the needs of the poor and low-income classes, through the best consumer products in terms of quality assurance and price stability,” stressing that “this issue is consistent with the pivotal role played by the Competition and Anti-Monopoly Council issued under Law 14 of 2010, which aims to protect purchasing rights from monopoly and manipulation.”

He added, “The supervisory and regulatory role of the Ministry of Commerce in regulating central markets comes within the framework of what can be called (competitive central consumer markets), which are markets that witness strong competition between companies and sellers to provide consumer products and services, as companies compete to offer the best prices, and ensure product quality and quality services to attract consumers, which leads to improving the overall consumer experience.”

He added, “Competitive central markets that operate on the basis of investment by the private sector are characterised by the following:

1- Diversification of products, by providing a wide range of products and services from different brands.

2- Creating a sustainable climate of competitive prices and suppressing monopoly, as sellers will seek to offer price promotions and discounts to encourage customers to buy.

3- Providing logistical services to consumers, which are added services such as delivery services, loyalty programs, or after-sales services that increase the attractiveness of the market.

He added, “Companies displaying their products in competitive central markets will practice ‘innovation’ by offering new or innovative solutions to their products or how they are presented, to remain attractive in a new climate of competition in organised markets.”

He noted that “competitive central markets will rely on strong distribution systems to provide access to them, enabling consumers to easily access the products offered by central markets.”

He added, “Competitive investment-based central markets will enable companies with solid brands to benefit from the capacity and role of central markets throughout the country to always offer something distinctive that suits the lifestyle and ways of life by improving their products using the best technologies to increase their market share.”

As for indicators of stability and economic growth, Saleh stated that “growth in the non-oil GDP has reached 6 percent, in light of the very moderate price growth rate, and according to the latest figures, it has only exceeded 3.7 percent annually, which means that the country is witnessing high price stability and development.”

He pointed out that “Iraq’s external debts have fallen to their lowest level in the last forty years, not exceeding $10 billion, and the government is following a precise program to settle the external debt, which constitutes less than 9 percent of the country’s total foreign exchange reserves, which are close to $108 billion, and are the highest foreign reserves in the country’s monetary and financial history.”

For his part, researcher and specialist in financial and banking affairs, Mustafa Hantoush, confirmed that “the Iraqi economy during the past three years has witnessed a number of correct trends, including: 

1- Supporting the private sector with Law No. 18 of 2023 (Workers’ Retirement), which will guarantee retirement rights for all workers in Iraq.

2- Supporting the culture of electronic payment that would provide high-level financial and banking services to the citizen, as well as determining the liquidity position and having a financial reading of the market.

3- Work seriously to complete the designs and requirements for starting the (Development Road) project, which is considered the basis for opening the transportation economy to Iraq, and which is a complementary project to the Faw Port. 

4- Establishing the (Service Effort) Committee, which provided tangible services in the capital, Baghdad, after long years of neglect, which would stimulate the labor and construction market in the capital and reduce transportation costs and time.

5- Heading towards residential complexes (adjacent to cities) and renegotiating with the Korean Hano Company.

He pointed out that, “Despite these measures, the Iraqi economy still needs many steps, including: 

1- Effective monetary policies (lending – attracting deposits – financing investment) that would create a cash cycle from surplus to deficit.

2- Building the private sector through an accelerated pace using models (private sector budget – loan budget) that will activate the infrastructure of the private sector (cities or industrial or agricultural or tourist areas – roads to serve investment – investment electricity) with an available and known loan budget with reasonable conditions.

3- Protecting the local product through (the state purchasing the local product – closing borders and unofficial outlets – industrial and agricultural dollars).

4- Effective international negotiation on files such as (producing 25 thousand megawatts of electricity on credit with Siemens – establishing the international company for the port of Faw – increasing Iraq’s share of oil production and export).

5- Establishing a sovereign investment fund (domestic) in dollars after negotiating with the American side, to which part of the oil revenues in dollars will go and which will be invested in safe local investments such as (real estate – oil and gas investments) and others.

6- Establishing a real estate policy consisting of (real estate reconciliation with agriculture – supporting economic construction complexes – distributing land to those entitled to it – launching funding for well-studied housing initiatives).

 In turn, researcher and academic Haitham Al-Khazaali explained that “the political stability that resulted from the government’s balanced policy, avoiding crisis management and focusing on achieving economic progress is what affected the stability of the security situation and then achieved economic stability.”

He added, “The economy is linked to security and reliance on political stability  link