Don961: Ways to achieve development

Tuesday 03 March 2020   Haider Kazem Al-Baghdadi

Defining the paths of economic growth is extremely important to achieve the goals that the country seeks to achieve balanced economic development that contributes to transferring the reality of the national economy to a better stage than it is.

When the issue of development is addressed, the matter requires standing at the available natural resources within the geographical area that represents the field of work for a future stage, and here we can realize that work inside Iraq is economically feasible and this is something that all specialized international companies are waiting for and the right moment to enter the Iraqi labor market.

Re-arranging the papers of the local economic house is an urgent necessity at this time when Iraq needs major efforts to work to develop the national economy and advance the level of services, then go to the stage of activating the national production that can be influential in the regional and international markets, by making Iraq an industrial center Internationally, it distributes its products between the poles of the western and eastern world.

Iraq is distinguished by its geographical location on the world map and this is an important advantage that can be employed in a manner that achieves the highest levels of economic feasibility when bilateral partnerships are achieved between Iraq and the major international companies classified on the international list, where it is chosen to choose the appropriate location in the country and be an international industrial center whose products go out to the market Local and global markets, which reach them with short periods of time, not exceeding 10 to 15 days, and this is not possible when transporting good link

Daverne:  wow this is huge and love that it  said 10 to 15 days

Don961:  Parliamentary efforts to reduce the interest of bank loans

Wednesday 04 March 2020
Baghdad / Al-Sabah / Shaima Rashid

The Parliamentary Finance Committee ruled out that the budget for this year 2020 would be voted on due to the lack of time remaining, while its efforts to reduce the benefits of bank loans indicated that it leads to a decline in the economic growth of the country. Member of the Finance Committee Ahmed Al-Hajj Rashid said in a statement to “Al-Sabah“: “The issue of interest is one of the methods of monetary policy, and the benefits are measured by the economic activity of the country. The more successful the activity, the higher the benefits and vice versa, meaning that the activity if it is weak must be benefits.” Few, and if the government wants to reduce public expenditures, it must increase interest. “

He added that “the economic situation in Iraq is deteriorating and flabby, and the high benefits lead to people not borrowing from banks, and therefore the funds in the banks are idle and inactive money, which in turn leads to a decline in economic growth,” noting that “the central bank is responsible for monetary policy It is an independent authority that no one can interfere with, noting that “the Finance Committee will strive during its upcoming sessions to host them and discuss the possibility of reducing benefits.”

As for the 2020 budget, Rashid said, “There will be a budget for this year due to time constraints,” noting that “the 2020 budget It has a deficit of 50 trillion dinars, which is what g Late in the Ministry of Finance, and therefore the parliament can not be passed, and only arrived in the financial statements. “

To that, the financial advisor to the Prime Minister, Mazhar Muhammad Salih, called the boards of directors of Iraqi banks to reduce the interest rate on loans.

Saleh said: “The economic problem of Iraq lies in the fact that the interest rates are high for many reasons, the most important of which is the liberalization witnessed by the Iraqi banks, as freedom was given to the administration of the Council of Banks by determining interest on loans and deposits in the central bank, when one participation is called the monetary policy interest that banks borrow from the bank”.     link

DELTA: GUYS I TOLD YOU SO(wink) ………….THANK YOU DON FOR YOUR HARD WORK…

“the central bank is responsible for monetary policy It is an independent authority that no one can interfere with, noting that “the Finance Committee will strive during its upcoming sessions to host them and discuss the possibility of reducing benefits.”

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Frank26:    3-4-20. EVERYTHING IS OKAY: VIDEO LINK

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