Samson: Detailed statement..Finance announces 25 achievements in implementing the white paper
27th July, 2022
Today, Wednesday, the Ministry of Finance announced 25 achievements in implementing the white paper
The ministry stated, in a statement, that “the Iraqi government adopted, at the beginning of August of the year 2021, the implementation of the economic reform paper to be a comprehensive roadmap, with the main objective of addressing the serious challenges facing the Iraqi economy, reducing dependence on oil as the only resource for the state and stimulating production in various government, private and other sectors.” Dozens of reform programs and projects
The statement added, “The Iraqi government is continuing to implement the terms of the white paper, and the Ministry of Finance has made advanced and successful steps under the guidance and follow-up of Ali Abdul Amir Allawi, and to proceed with the reform paper procedures to consolidate all possibilities and facilitate their application to all sectors
He pointed out that “work continues to implement the targeted projects, because the nature of their implementation is of a purely professional and economic aspect, and it has positive repercussions on the state’s economy and continuously regardless of changing governments. contained in the white paper, including
1- The rules for organizing the state’s general budget have been developed so that the budget is flexible in its preparation and implementation, as it was formulated to include a basic oil price to estimate revenues and flexible expenditure schedules that are implemented according to changes in oil prices and actual revenues. However, the lack of a government with full powers has led to the failure to send the project to the House of Representatives
2- The internal bonds were issued in the local markets and were fully subscribed
3- Several preparations and seminars have been initiated in cooperation with various international organizations and many countries to try to implement a budget
Software and performance
4- The government debt strategy was prepared and approved by the Council of Ministers
5- Preparations for the automation of the tax system have been completed in preparation for the issuance of a tax number for each citizen and for each company operating in Iraq, pending financial allocations in the budget to complete the work
6- Work is continuing in the Central Bank to develop mechanisms for following up on private banks and activating the work of the Deposit Insurance Company to give full confidence to deal with private banks
7- All banks operating in Iraq were urged to activate and increase the use of electronic services for them and their customers
8- The re-amendment of the internal system of Rafidain Bank has been completed and submitted to the State Council for approval in preparation for the restructuring of all government banks
9- The draft law of the Securities Commission has been completed in cooperation with various economic sectors and the State Council
10- International consultants have been appointed in the insurance sector and work is underway to study the insurance market in Iraq in preparation for amending the sector’s legislation in cooperation with the British Adam Smith Organization, in addition to involving workers in the insurance sector in various specialized courses in order to raise their professional competence
11- A draft amendment to the Companies Law was prepared, including governance standards in accordance with international best practices, which would develop the investment environment in Iraq
12- It was allowed to import damaged cars within the permitted model years and repair them inside Iraq, which would create many investment opportunities
13- The Higher Committee for Lending and activating the initiatives of the Central Bank to lend, whether within the housing fund or purchase loans for housing units from investment complexes, was reconstituted, which would solve the housing problem on the one hand and provide job opportunities in these projects on the other hand, in a way that works to provide economic development in general
14- Data of government companies were collected and categorized into successful, faltering and failed in preparation for presenting them to the next government in order to take the necessary measures to treat them
15- The normalization of customs automation procedures in Iraq has been initiated according to the ASYCUDA system, and work is underway with it
16- Activating initiatives from the Central Bank to lend to encourage the use of alternative energy for electricity in Iraq
17- Work is underway to complete the electrical connection with neighboring countries
18- Work is continuing to control the access gates to end cases of smuggling Internet capacities
19 – Introducing fourth generation technology services in Iraq
20 – Completing the legislation of the health insurance law and working on its implementation
21- Increase support for groups covered by social protection
22 – Fixing the defect in the ration card and increasing its vocabulary
23- Initiating a program to build the 1,000 schools in cooperation with Chinese companies
24- Implementation of the electronic system for employment in the Federal Service Council
25- Activating the petrodollars for the governorates and customs imports with the governorates
Clare: VERY IMPRESSIVE! IRAQ SURE HAS COME A LONG WAY WITH THE RIGHT PM …AND THAT IS KAZEMI! IMO…
Samson: “Economically and Parliamentarian” .. the law: the exchange rate of the dollar will see the light in the next stage
27th July, 2022
State of Law Representative Jassem al-Moussawi confirmed today, Wednesday, that the chances of the coordination framework within the parliament have become very strong, and this qualifies him to change the exchange rate of the Iraqi dinar against the US dollar, while stressing that the improvement in the economic situation will prompt the return of the dollar to its old price.
Al-Moussawi said in an interview with the “Information” agency, “One of the main demands adopted by the State of Law coalition is to restore the dollar exchange rate, especially after the improvement of the economic situation,” noting that “the Iraqi government’s interaction with the development of investment, the development of agriculture, and the opening of wide economic outlets, they all require a change in the exchange rate.”
He added, “The coordinating framework has become the largest parliamentary bloc, and its fortunes have increased significantly within the parliament and its impact is very strong, and this is what enables it to change the exchange rate, especially as it is the main requirement for the framework during the next stage.”
The representative of the state of law explained that “the cash reserve of the currency rose to more than 70 billion dollars and may rise to 90 or more, and this could change the exchange rate of the dinar against the dollar with the existing economic improvement.”
The representative of the National Approach Alliance, Hassan al-Asadi, had confirmed, earlier, the possibility of reducing the dollar exchange rate in the new general budget, stressing that there is a parliamentary movement to return the dollar exchange rate to what it was previously. LINK
Tivon: They just won’t quit. We got somebody on the job regarding the dollar CF. Please stop pretending Al-Kazemi hasn’t already started this process. They keep trying to use the USD rate to gain favor from the citizens so they can be voted in off a promise they will not keep. Fortunately the citizens have someone implementing procedures to address this problem now. Which is why they adjusted the salary scale along with other things and are just waiting on The House of Representatives overview. IMO
Samson: Member of Parliamentary Finance: We have not seen the new salary scale law
27th July, 2022
The Parliamentary Finance Committee confirmed, on Wednesday, that it had not seen the new salary scale law
Committee member Faisal Al-Naeli said in a press statement followed by “Al-Iqtisad News”, that “the Finance Committee did not see the new salary scale law
He added, “Sending any law by the government is considered in violation of the constitution and the law,” adding that “any law that comes from the government will be rejected, because it is a daily caretaker government
The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, confirmed, yesterday, Tuesday, that “the amendment of the salary scale law is among the government’s priorities,” noting that “the amendment of the salary scale was sent to the House of Representatives for approval LINK
Tivon: Do you see how they are trying to dismiss Al-Kazemi cabinet? How they are trying to deny and refuse to play ball is because they know their political careers are just about over because the citizens will recognize that Al-Kazemi was not playing political football with their economy.
Look at the list of accomplishments from the White Papers. They are scared to death of the progress being made because once Al-Kazemi is done the citizens will not want to go back to the old ways of false promises.
Especially once they recieve purchasing power. They already know the new salary scale is done. Al-Jubouri already stated that this was the goal to unify the wages and salaries a week or so ago. Seems to be a done deal.
Funny they mention the constitution as if the EFSL is not tied to it. They can’t point to any thing that Al-Kazemi is accused of violating. Meanwhile they were not complaining when Kurdistan violated five different areas of the constitution with the Oil contracts.
That new salary scale has something else affiliated with it. Which they can not stop. IMO
Samson: Al-Kazemi’s advisor clarifies the mechanism for implementing the Food Security Law and sets the implementation period
27th July, 2022
Today, Wednesday, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, explained the mechanism for implementing the emergency food security support law, while setting the implementation period
Saleh told the official news agency, “The content of the emergency food security support law and the instructions for its implementation are subject to the procedures of the competent ministry, mainly from the Ministry of Finance, which prepared the sufficient instructions that required their approval
He pointed out that “not much time has passed since the law was enacted by the House of Representatives for it to enter into force
He added, “The implementation procedures extend until the end of the year or until the issuance of a budget law if the legislative environment permits this in the future
He continued, “There are accelerated steps related to paying farmers’ dues and supporting the ration card, and certainly the disbursement programs will be organized gradually within a period that may not exceed a month from now LINK
Tivon: Well here is even more clarification on the discussion me and Militia-Man had. They say explicitly the role in which they both play. The EFSL will with the current provisions extend into a period where it’s no longer neccessary to rely on this law to drive the economy.
So he says it has not fully entered into force. Which is good because we already know what to expect given what has already been started since July 17th when he told all ministries to start implementing all provisions in the EFSL.
I am happy this follow up article was published. Clears up things for the people who are still wrestling with the agenda behind these two things. The new salary scale from what we can see is a hot topic. And has created conflict with those who oppose Al-Kazemi.
If you brainwashed by the CF you will assume Al-Kazemi has no chance. And that he will not be able to follow through on his promises because he will be voted out.
We already seen one person fall for this on the forum. Which I’m sure represent many who don’t post here including other sites. So we have to double down and clear the confusion for ourselves so we can not be moved off our square. IMO
Samson: Customs announces the start of the electronic customs declaration
27th July, 2022
The General Authority of Customs announced today, Wednesday, the start of applying the electronic customs declaration instead of the previous one.
And the authority stated in a statement that Mawazine News received a copy of it, that “work has begun to apply the (electronic) customs declaration at the Customs Muntheria border post, with the self-efforts of the employees of the electronic calculator department, with complete and resounding success, as the procedures became electronic from the beginning of the customs transaction to its end.”
The statement added that “this achievement was widely welcomed by the Border Ports Authority, where the continuous cooperation and exchange of information among them was crowned with this success, which serves the citizen in terms of shortening effort and time and reducing manipulation and fraud.”
He pointed out that “work is underway with great support from the director general of the authority in order to link all the customs centers, successively.” LINK
Tivon: Yesssssssssssss. Are you all seeing this? They are ready for the big leagues. Now they are 100% confident in their new electronic fingerprint. The CBI has already given their deadline. SWIFT gave their deadline. Total, their deadline. This is pretty much a done deal. And this is moving slow? I highly doubt that. IMO
Patriots12: seeing this one is huge and implemented at what rate? or in fact all electronic and ready for the change IMP Great job Samson and thank you Tivon, thank you for your continued opinion and analysis… we don’t know the date but based on all these deadlines hoping sooner rather than later IMO IMO IMO
Suzie: I know how hard you are working to decipher all this intel and bring it to us in “common sense” terms. We’re all looking forward to the 15th and ready for fireworks! IMO!
Tivon: Listen, where we are now the dates should only imply the obvious as to what we can expect before or after the 15th. Every bank in Iraq doesn’t have to be on board by the 15th in order to see a rate change.
The new salary scale is about to be approved. This is a major marker.
Because at what point do they start receiving purchasing power once the new wages and salary are applied once the CBI is comfortable enough that they have enough banks on the new platform by the 15th? Think about it. Because I think they are moving much faster than that.
Everyday is an opportunity. I’m excited for where we are. And it appears the CBI is expecting Al-Kazemi to have something in place before they pull the trigger. IMO