Iraqi News Early Wednesday AM 9-14-22
Tlm724 Administrator Bondlady’s Corner
What Are The Pros And Cons Of Increasing Loan Grants In The Absence Of A Budget? Economical Answer
09/13/2022 31 Earth News / Mazhar Muhammad Salih, the economic advisor to the Prime Minister, explained today, Tuesday, the pros and cons of increasing loan grants in light of the current surplus and the lack of a budget. Saleh said in a statement to Earth News, “Finance as an economic phenomenon represents a decision that precedes the production of development itself, according to the contexts of the income cycle in the national economy, and the importance of the impact of individual loans in financing economic activity depends on the destination of the debt or the loan itself.”
He added, “In advanced industrial economies, spending debt or loan on consumer activity is an income-generating force through the spending multiplier or effective demand, through the generation of demand and derivative demand chains that lead to the activation of production within the economic community itself and the movement of idle productive energies, which contributes to In raising the rates of economic growth and raising the levels of employment, as well as the increasing demand for investments as well, they are called (investment accelerators).
And Saleh continued, “In our developing countries, the multiplier of spending or demand resulting from the disbursement of loan or financing amounts, if they are spent on consumer goods, especially those imported from them or produced outside the national economy, will increase demand in the foreign economy and cause double growth in foreign economies exporting consumer goods. to our country.” And the Prime Minister’s advisor added,
“However, if the loans are spent to finance productive activities within the national economy, it will certainly generate a demand for production factors and encourage national investment, especially if individual spending is directed towards the right productive investments, and it will greatly increase the chances of growth and overall economic prosperity.”. https://earthiq.news/archives/140164
Iraq Announces The Imminent Implementation Of “Seismic Surveys” Of A Marine Patch In Its Territorial Waters
Economy Territorial waters Ehsan Abdul-Jabbar Iraqi Oil Minister 2022-09-13 00:55 Shafaq News / The Iraqi Oil Minister, Ihsan Abdul-Habar, stressed today, Tuesday, the importance of starting the seismic survey of the marine area in the Arabian Gulf, which is the first experience and actual activity in a site in regional waters.
Abdul-Jabbar said, in a statement received by Shafaq News Agency, that “the ministry’s efforts have borne fruit over the past years to reach a contract formula for a joint study with the Chinese company Cinoc, in 2019, which aims to determine the points and locations of land and sea exploration,” noting that “expectations and studies It indicates that it contains hydrocarbons.
For his part, the Director-General of the Oil Exploration Company, Ali Jassim, said, according to the statement, that “the plans of the ministry and the National Oil Company aim to maximize and invest the national reserve of hydrocarbon wealth, by engaging the national effort, and
joint work with sober international companies in transforming expectations into an actual reserve. added to the national production.
Jassim explained the importance of oil exploration in regional waters, saying that the company is preparing to “conclude a contract in the coming days with the Chinese company Cinoc to begin soon the work of exploratory surveys.”
Publication Of The First Issue Of The Journal Of The Center For Banking Studies
September 12, 2022 The issuance of the first issue of the Journal of the Center for Banking Studies in the Central Bank of Iraq … To view, click here https://cbi.iq/static/uploads/up/file-166297614136130.pdf
A Government Advisor Clarifies The Possibility Of Submitting A Law Proposal That Includes A Financial Aspect
political| 09:48 – 12/09/2022 Baghdad – Mawazine News, the technical advisor to the Prime Minister, Haitham Al-Jubouri, explained today, Monday, the mechanism for submitting a proposal for a law that includes a financial aspect, while noting that the currency reserves rose to more than 85 billion dollars that the Iraqi state had not previously witnessed.
Al-Jubouri said, “There is a decision of the Federal Court that prevents the government from submitting any bill that has a financial aspect,”
noting that it is possible for the House of Representatives, through one of its committees or 10 deputies and more, to present a law proposal and take the government’s opinion on it, as it will have financial consequences.
And he added, “The government cannot submit bills according to the decision of the Federal Court,” noting that “we do not want many laws related to financial consequences or additional allocations, and we expect that there will be a government to approve a new budget.”
And on the rise in currency reserves, al-Jubouri said that “the rise in reserves to more than 85 billion dollars is an important indicator for the Iraqi economy and growth,” noting that “this rise was not witnessed by the Iraqi state previously.”
He continued, “We expect the reserve to reach 100 billion if oil prices remain high until the end of the year,” explaining that “this figure will support the stability of the Iraqi currency.” Ended 29 / p. 87
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