Parliamentary economy: inflation rate in Iraq is unacceptable

19/09/2012

Baghdad / Orr News

Committee considered the economy and investment parliamentary current inflation rate in Iraq as unacceptable, calling on the government to prepare a strategy to double the economic GDP in order to improve the standard of living and Alrvahe citizen.

The member of the Committee of Economy and Investment parliamentary Abdul-Abbas the estrus, government to "draw a strategy and put laws diversity of GDP, which depends mainly on oil." Estrus said "GDP is one of the economic criteria, and affect the per capita income and the budget and welfare measures for the citizen," he said, adding that "revenue needed to sustainable development, such as agriculture, industry, generating profits on the citizen and the country."

He pointed out that "Iraq's dependence on oil in danger of crises result link this product economic crises and political in the region and the world," warning "accreditation President on oil, because it at our peril, is linked to the global market mainly, and perhaps in any crisis we lose 80 percent of our domestic ".

The MP said the state law that "Parliament is expected from the government to prepare develop laws and the diversity of GDP or contribute to its development," stressing the need to "find organization plans in coordination between the executive and to facilitate the preparation of parliamentary legislation law."

As for the high rates of inflation, considered estrus current ratio as "unsatisfactory, given that the budget measure on inflation 5 percent, a rate acceptable to Iraq," noting that "the responsibilities of the central bank is to determine the exchange rate of the dinar, and the interest rate, and the reduction of the inflation rate, in addition to managing cash reserves and a host of other tasks. " "We want the central bank to take the reins, and work to reduce the inflation rate reasonable."

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Breakthrough soon in the case of the approval of Kuwait to remove Iraq from Chapter VII

19/09/2012

Baghdad: - MP for the coalition of state law Ibrahim al-Rikabi said the Iraqi government did not keep silent about the issue of the country out of Chapter VII, noting that there were diplomatic channels at the Foreign Ministry and the government, following this case.
He said in a statement to (East): "The seventh item on a heavy legacy on the current Iraqi government, and this came because of the backlog of debt and financial violations imposed by Kuwait on Iraq.
The MP expressed his belief that this issue depend on our relationship with Kuwait, so there must be a strong relationship between the two countries, and down to consent to allow the lifting of entitlements for Iraq, believing that this issue will see a breakthrough soon. Rikabi said: there will be a political climate to remove Iraq from Chapter debt seventh item, so the issue responsible and the Ministry of Foreign Affairs and we expect to resolve this issue as soon as possible to get rid of this compensation imposed on the country.
In a related development called the Iraqi List MP Ahmed electrodes Iraqi government should do its utmost to get rid of the seventh item, believing that the solution of this issue comes through diplomatic channels.
He said in a statement to (East): "to remove Iraq from Chapter VII, based on Iraq's obligations towards the neighboring countries, especially Financial Obligations, expected non-waiver Kuwait for compensation in an attempt to block the resolution of this issue.
The MP for the coalition in Iraq free high Nassif had asked the Iraqi government to activate diplomacy to coincide with the meeting of the 67th session of the General Assembly of the United Nations, to remove Iraq from Chapter VII.
She said: "It is very important that the government at the current stage to activate Iraqi diplomacy to coincide with the ongoing preparations for holding the meeting of the General Assembly of the United Nations at its 67th in New York, as a prelude to remove Iraq from Chapter VII."
She added: "The current stage requires creation of a political climate conducive to rid Iraq of UN authorization, and by building positive relations with major countries and give the true picture of the new Iraq, which does not justify its survival under Chapter VII."
The the 67 session of the General Assembly held at United Nations Headquarters on Tuesday, September 18.

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Shaways: the government is serious about reforms of the financial sector and banking

09/19/2012

Deputy Prime Minister for Economic Affairs Rose Nuri Shaways, that the government is serious about continuing reforms of the financial sector and banking.

He Shaways on the sidelines of the conference and exhibition on the financial, banking and investment in Iraq is being held in London for the period from September 18 to 19 current "The Iraqi government appreciates the efforts by the private sector and serious in supporting foreign investment sober and protection to ensure the interests of all parties." A statement of the Office of Shaways that "the First Deputy Speaker of Parliament Qusay al-Suhail and Ministers of Planning and Development Cooperation and Construction and Housing and Chairman of the National Investment Commission in Iraq and a number of consultants and general managers and the Minister of State for Trade and British representatives of major international companies and banks in the world attended the conference."

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Economic Commission looking into the possibility of the establishment of a free zone in Diyala

09/19/2012

BAGHDAD / JD / .. searched the General Authority for Free Zones under the Ministry of Finance with the parliamentary economic committee the possibility of establishing a free trade zone in the province of Diyala.
The general director of the Sabah Saleh al-Qaisi said in a statement received / JD / copy of it: that a delegation of the Economic Commission parliamentary headed MP Nahida Daini and Rep. Nora البجاري visited free zones and Atalaata the reality of the work of free zones and obstacles encountered, despite the great support provided by the Minister of Finance.
Qaisi said the delegation listened to a detailed explanation about the added values ​​provided by the free zones of the Iraqi economy through the operation of many of the associated sectors as well as provide all the incentives and exemptions and facilities accorded to investors.
He noted that the delegation discussed the idea of ​​establishing a free trade zone in Diyala because of its conservative important strategic site, noting that the parliamentary delegation promised to provide all support for the advancement of the free zones and to overcome the difficulties facing its work. / End / / 22

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Maaleh: Paper reform is a "road map" Talabani

09/19/2012







Baghdad / Orr News

Considered a spokesman for the Supreme Council of the Islamic Hamid Saadi Malp that the "road map, which will move in the light of the President of the Republic exists and is the reform paper prepared by the National Alliance and coincided with meetings and regardless of whether official or not, or the level of success achieved." Saadi added that "everyone now knows that there must be agreement on a package of reforms, particularly as an option everyone before also strongly and realistically."

And on the position of the National Alliance of reform paper existence internal disputes Saadi said that "seeing the National Alliance strategy of reform paper unified often especially with setting priorities in this regard," pointing to "the existence of differences simple but solvable as long as the paper are all debatable and What is important is to give the other blocks their views in this paper in order to have a complete picture around. "

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Awadi: passing a law structures will increase Global Investment Companies

09/19/2012

BAGHDAD / older / A member of the Commission services and reconstruction Ihsan al-Awadi said parliamentary ratification of the infrastructure in the Parliament will contribute to the increase of investment proposals by international companies. He said al-Awadi said in a statement, "told secrets news / not /" that "the Commission services and ages parliamentary worked during the last period to avoid a lot of flaws that were contained in this law and" the mechanism to select companies wishing to implement investment projects will be transparent and the competition will be fair , and ensure that the best interest of Iraq so that they are less benefits, and to the implementation of less time, and the quality of higher performance. He added that Japanese Aacharkat and Korean and Chinese expressed a genuine desire in this topic. He noted that a number of countries such as China, Korea and Japan announced that it will provide large loans and soft for companies that want to operate in Iraq in accordance with this law and negotiations are underway with other countries such as Germany and America, and others on investment by paying on credit. Ended 2 /

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Capital bank of jordan calls to seize the opportunity of investment in iraq

09/19/2012

BAGHDAD / JD / .. called Capital Bank in Jordan to seize the opportunity the export and investment in Iraq.
The newspaper (Dustour) report that: The American Chamber of Commerce in Jordan hosted Chairman Capital Bank Basem Khalil Al Salem in an open meeting attended by a group of Jordanian businessmen interested market Iraqi addition to Iraqi businessmen, and some members of the U.S. Embassy, ​​where they were discussed during the meeting to the ways of seizing the export and investment opportunities in promising Iraqi market.
The Capital Bank's fourth-largest bank in Jordan in terms of the bank's capital Jordanian only present in Iraq through bank Ahli Iraqi, which enabled him to make it the experience and knowledge in the Iraqi market and building a strong network of relationships with various sectors, where is always trying to share his experiences in the Iraqi market with its customers and partners to provide all means of support for them to expand their business activities and development in the Iraqi market.
He reviewed the peace in a meeting with investment opportunities large in the Iraqi market in the light of the growing economic ties between the two countries and promising opportunities in Iraq, reinforced his rule which imbued Capital Bank in Iraq, a strong base through owned accounted for 72% of the capital of National Bank of Iraq, pointing that this rule provides added value to business Jordanians in Iraq, as well as providing a safe window enables them to expand in the Iraqi market, and provide a bridge linking Iraqis living in Jordan with their work and their interests in their homeland.
He noted Salem that Capital Bank always seeks to develop its relations with all the companies that are looking for ways to grow its business in Iraq, and by facilitating the process of dealing between Capital Bank and National Bank of Iraq by giving them a comprehensive service of both our customers in Jordan or Iraq, and support the export process.
He said that the bank launched a new service for Jordanian businessmen and Iraqis living in Jordan focused on providing the necessary information to investors through the Department specializes in the Iraqi market would be responsible for business and investors and provide them with investment opportunities in Iraq for the development of their territories, reviewing services provided by Capital Bank through National Bank Iraqi and facilitate their banking business between the two countries and in record time and enhance their confidence in us. / end / / 22

Iraqi Finance: forward the draft general budget for 2013 to the Council of Ministers today

19/09/2012

Erbil, September 19 / September (Rn) - Undersecretary of the Iraqi Ministry of Finance, on Wednesday, the ministry decided to refer the initial draft of the budget bill for the country for the next year to the Council of Ministers today to ratify it.

According to Fadel Prophet told the Kurdish news agency (Rn), that "it is scheduled to transmit the Iraqi Finance Ministry initial draft of the budget bill for the country for the next year to the Cabinet today for approval and thus forwarded to the House for final approval."

The prophet that "the initial estimate according to the ministries of finance and planning for the size of the budget next year of 132 trillion Iraqi dinars calculates $ 90 for the price of a barrel of Iraqi oil exported abroad," pointing out that "the draft budget for next year has attached great importance to the implementation of investment projects in the country ".

The Iraqi Council of Representatives had approved during its meeting held in February 23 last budget year 2012, which amounted to 117 trillion Iraqi dinars, equivalent to about U.S. $ 100 billion, counting $ 85 for the price of a barrel of Iraqi oil exported abroad and at export reached 2.6 million barrels of oil per day.

 

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