Ministry Of Planning: The Private Sector Contributes 43% Of The GDP
Posted On2022-02-08 By Sotaliraq The Ministry of Planning reported that the private sector contributes about 43% of the country’s gross domestic product, stressing Iraq’s need for a banking sector capable of financing private sector projects, and a new policy for mechanisms for granting loans to the sector.
Ministry spokesman Abdul-Zahra Al-Hindawi said in a press statement, “The Ministry of Planning is holding a workshop in Erbil in cooperation with the United Nations Development Program and also in cooperation with the US Agency for Development, in the presence of representatives of the private sector and government agencies.”
He explained that “this workshop will be held over four days, during which the results of the special survey carried out by the ministry on small and medium enterprises in Baghdad, Basra and Nineveh will be reviewed, and the results of this survey will be reviewed, and as a result the role of the private sector in supporting these enterprises, which represent a very important area of space. Economic activity in Iraq.
Last year, the government of Iraqi Prime Minister Mustafa Al-Kazemi announced the preparation of a new package of laws aimed at developing the work of the private sector, to be a major nerve in the strategy of reducing poverty and unemployment in the country, and the public sector’s participation in responsibility.
Al-Hindawi expressed his hope that this workshop would produce “recommendations, ideas and visions that would support these institutions, which represent a large area economically and could be a contributing and effective factor in supporting economic activity in Iraq by enabling them to grant loans to these institutions, and many measures aimed at supporting and enabling The private sector in Iraq.
A spokesman for the Ministry of Planning noted that “the contribution of the private sector to the gross domestic product reaches about 43%, which is a large percentage, but it needs more activation and empowerment,” stressing “the need for the private sector to have a role in large and strategic projects, and this requires finding a group of Laws, regulations and policies that enable and support the private sector.
Al-Hindawi stressed the need for “a banking sector capable of financing private sector projects, in addition to the need for a new policy for mechanisms for granting loans to the private sector, according to facilities and procedures that could attract investment and support the private sector in Iraq.”
Although Iraq owns about 227 factories and factories belonging to the public sector companies in Iraq, the number of workers in them does not exceed 140 people only, according to the Ministry of Industry and Minerals. The President of the Republic, Barham Salih, had warned more than once against the consequences of relying on oil as an orphan resource in consolidating the national income, as a result of the technological changes taking place in the world that push for the entry of alternative energy and the weak global demand for black wealth during the next two decades.
Iraq entered the middle of 2020, a stifling financial crisis that forced it to borrow more than once to secure the salaries of state employees, as a result of the drop in oil prices and the global closure conditions imposed by the repercussions of the Corona pandemic. LINK
Opening The Door For Candidacy For The Post Of President Of The Republic
Today, Tuesday, the Presidency of Parliament announced the opening of the nomination for the post of President of the Republic.
A document for the Presidency of the Parliament stated that “in view of the expiry of the constitutional period specified for electing the President of the Republic under Article (72 / second, b) of the Constitution without his election, and based on the provisions of the Nomination Law for the Position of President of the Republic No. (Cool of 2012, the Presidency of the Council decided to open the door for candidacy for the position The President of the Republic, starting tomorrow, Wednesday, the ninth of February.
“The nomination will continue for 3 days,” she added.
https://www.radionawa.com/all-detail.aspx?jimare=27929
The President Of The Republic Addresses The Federal Court Regarding The Constitutional Vacuum
The President of the Republic, Barham Salih, addressed the Federal Court regarding the constitutional vacuum.
Saleh said in a document, “Due to the fact that the House of Representatives, in its fifth session, completed the requirements of Articles (54 and 55) of the Constitution, and did not complete the requirements of Article (70) of the Constitution related to the election of the President of the Republic due to the lack of a quorum set by your esteemed court, in session 7 /2/2022″.
He added: “We ask your esteemed court to explain Article 72/second, as the text did not address the situation of the parliament’s inability to fulfill the constitutional requirement contained in Paragraph (Second) above and to deal with the situation with regard to the President of the Republic exercising his duties in order to avoid a constitutional vacuum, and until the completion of The requirements of Article (70) of the Constitution.
https://www.radionawa.com/all-detail.aspx?jimare=27934
Oil Prices Fell, And Brent Settled At $ 92.39 A Barrel
Economie| 08:31 – 08/02/2022 Follow-up – Mawazine News: Oil prices recorded Tuesday, before the resumption of indirect talks between the United States and Iran, which may revive the nuclear agreement that leads to the lifting of sanctions imposed on Iranian oil sales and an increase in global supplies.
Brent crude fell in the latest trading 30 cents, or 0.32 percent, to reach $ 92.39 a barrel, after hitting a seven-year high of $ 94 on Monday. US West Texas Intermediate crude fell 22 cents to settle at $91.10 a barrel. https://www.mawazin.net/Details.aspx?jimare=183977
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
