Dinar Updates Daily Chat Log
Part 9 - Featuring rcookie & BGG
subgirl says to woodywoodpecker(4:52 PM):
hey woody :-*
SRW says(4:52 PM):
Ethel, if yo don't quit kissin on thet gal I'm gonna handcuff yo rear to the tractor seat!! :D
subgirl says to SRW(4:52 PM):
SRW says(4:56 PM):
Help Rcookie, we need some news!! FAST!! :D
rcookie says(4:57 PM):
Iraqi economy and bets debts
Ali Hassan al - Fawwaz
build a true economic base it requires a range of effective measures, and a realistic vision in dealing with the problems that Effersha- Aadh- mono - economy, and this is what makes the sketch plans more difficult and complex programs with outstanding deposits in the scheme of the Iraqi economic system.
Days before the Finance Committee approved in the House of Representatives on the conditions set by the international Monetary Fund on Iraq, in return for agreeing to give financial loans for the implementation of several economic projects, which require a basic guarantees on the part of that, and to a consensus with the policies that the fund performs in the field of loans.
approval of the Commission accompanied by a claim Mr. chairman of the Council of Ministers to take a process with respect to addressing issues of corruption, and the files are corrupt actions, as well as the importance of working to apply compressive programs related to the rationalization of spending is necessary, and activate the work of other sectors of the economy, which means a review of the general budget and write off a lot of assignments unrelated to economic rationalization policy that determined by the Fund.
that has patterns and policies, and has negative effects also centralized economy, and when there is a financial surplus, this Central is straining the national wealth through expenditures undisciplined, and across succumb to trends related to the policy of the central state, and the nature of the orientation of those expenditures, especially his money relationship spending armament, or the money linked to (petty cash) ministries and other institutions and Oivadat officials, which will be room for corruption and illicit enrichment, as well as the direct impact on the waste of public money and inflation phenomena slack in institutional work against the weakness in the planning, organization and rationalization, and in control of the doors exchange, and in accordance with the necessary benefits.
rcookie says(4:58 PM):
policy «international Monetary»
some shows fear of these trends, and under the pretext undergo Alysaasat the international Monetary Fund, and because the Iraqi economy rentier nature, these fears turn out to be the practices of the Iraqi government has put in front of rejected this some problems, and therefore disable a lot of economic promises that have been agreed upon on these loans, and perhaps Alemradjahalojerh preparedness credit between Iraq and the international Monetary Fund agreement in Amman pointed to this risk on the part of , and to the importance of framing, all the way for approval of the Fund 's terms and adhered to.
referents problem debts originally linked to the existence of widespread corruption in state institutions, and the large Bagr of public money, and to the confusion of banking policies, and to other aspects related to the political with data mysterious, and the nature of the threats and challenges faced by Iraq, which has devoted an increasing spenders security side, compared to reduce the allocations pertaining to economic recovery programs Iraqi in various investment fields, what makes the commitment to the demands of the international Monetary Fund over Napoleon represented realism, but the possibility of confrontation (forced) with corruption and the corrupt, and according to the monitoring, control and audit files mechanism.
also, this realism is also to preserve the employees and pensioners, and related activities perpetuation of public life citizens, compared Aadhalnzer many of the economic policies that lacks the realism, and exercises its authority as if the Iraqi wealth is depleted, and that limitless spending Profile, which is referred to by the MP Magda Tamimi , a member of the economic Committee (b spend three million and 799 thousand dollars to hire a private aircraft, during the last quarter of 2014 and over the past year in 2015, as well as the expenditure of funds and other money on Aivadat officials, in spite of the serious consequences of falling oil prices and the war against al «Daesh» terrorist.)
this information confirms the size of expenditures is necessary, and in the work contexts many of them, Maittalb face resolute, not only committed to the policies of the international Monetary Fund, but to restructure the Iraqi economy and Moisnath and Anfaqath, and to ensure the reduction of the budget deficit, which is referred to during the discussion of the budget year 2016- member of the Finance Committee MP Hussam punitive , saying: (The 2016 budget deficit will be larger than the budget 2015 deficit », noting that,» budget in 2016 which put deficit to 29 trillion dinars , or the equivalent of $ 25 billion, representing 25 percent of the total budget).
rcookie says(4:58 PM):
Prime Minister claim to be more decisive in dealing with corruption and corrupt files, it runs from the dangerous Maewagha Iraq's economic problems, and complications specific to those files and the multiplicity of their references, which relates to issues concerning waste, and money laundering, and the imbalance in the control procedures, and keep track of exchange and other mechanisms, this Maittalb put decisive action , concerning the procedures for administrative and limbering Alanvaqa, and measures concerning the control and supervision, and a review of the general budget. The seriousness of the propensity for loans from countries and banking authorities are in the economy put in front of data impose conditions on Iraq, which may make Iraq Amadzera to continue lending policy, distancing from taking (forced) to look for other opportunities to maximize the national wealth, and not total reliance on oil which is exposed to the fluctuation of prices, and the deterioration under the conflict and political factors tugging, or flooding the oil market affluence, a Maigll of demand relative about a lot of offers, which are adopted by some countries , a political measure against other countries ..
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rcookie says(5:02 PM):
Iraq needs a unified vision of the government and banks
BAGHDAD / Suha Shaykhli
constitute one of the important pillars of the private banking sector in economic activity in all important countries varied activities, as is the main engines in a country like Iraq, especially in the critical period is going through, but the multiple reflections trends of financial distress influenced in the performance of banks and the economy both , despite the availability of human resources and advanced technology.
the attention of the banking expert , Abdul Rahman al - Sheikhli Speaking »Sabah» that the decline in global oil prices and financial pressures because of the war on «Daesh», along with the pressures of the international Monetary Fund and the World Bank and the commitments that dates back to the before 2003 have exacerbated the severity of financial distress.
he Shaykhli to that if these conditions persist , will lead to negative consequences such as the circulation of funds deficit in the banks would be reflected negatively on the funding and other economic activities, particularly in the areas of export domestic production and import, stressing that the indiscriminate import leads a waste of money in hard currency would be good to spend at home and replace them with local products.
and indicates Shaykhli that rentier economy requires speed up finding alternatives to diversify its budgetary resources which are reasonably increase tax rates so as not to put pressure on low - income people, as well as Note tariff customs because a lot of goods are exempt from fees and stop wastage and minimize financial and administrative corruption to develop the economy.
the difficulty of the task in front of the banking sector alone in drawing a road map to avoid the financial crisis , there is no common constants unified economic vision with the government, adding that the economy is still without identity Oomlameh, in addition to the financial and administrative corruption after the proceeds from the sale of oil cash blocs during 13 years there was no fixed budgets for the entry and exit of the money obtained was employed for the development of the productive sector , both public and private.
and between Shaykhli the role of modern technology in fact banking service and private in the areas of transportation and communications has contributed to the diversification of great services to customers , including automated banking deal in addition to the competencies and human resources has been active since 1993 as Iraq began working since then on the window of a free economy by opening banks
He continued since that time and even now expanded the scope of work in the private banks and the need arose to post significant human cadres , mostly retired personnel who have experience and competence, but they lack the correct vision of the free economy , which the world is witnessing at the moment, noting the difficulty that develop these themselves to be part of a free economy, and these staff can be advisers and not the executives, some of whom do not understand anything in dealing with the most advanced technology, even though he has good ideas in the banking and financial matters.
He stressed the need to be experienced now for young people and to take their role in the banking business, but he also, but the majority of banks are looking for practical experience rather than academic experience has We tried pushing young people in practical courses but fared a minor still, however, some of whom responded to gain experience and some of them are now filled sections administration with the knowledge that their experience does not exceed five years , but the number is small does not fit the actual need for it we are forced sometimes to hiring staff veterans and retirees of them stressing the need to develop human skills match the actual requirements.
rcookie says(5:05 PM):
Public industries able to cover the needs of the market
BAGHDAD / Mustafa Hashimi
needs Iraq 's economy to take more effective steps to support the national product, especially the production of the Ministry of Industry and Minerals being owned companies and factories need to be encouraged to increase production , including limiting the imports unnecessary , which can be produced in these factories.
This was confirmed by the economic academic Dr. Majid Baidhani in his "morning", referring to the need to pay national production further support through the open space in front of the reduction of the import , which has greatly affected the national Besnaatna.
It owns the Ministry of Industry and minerals , 75 public companies , including 276 factories specialized electrical and food and pharmaceutical areas and fertilizers as well as industries light and heavy falling in huge vehicles industry.
He Baidhani to the existence of a trend to support the ministry 's products or through participation and investment and benefit from the expertise and human energies owned by those companies and government factories that contract, stressing the need to assign support legislation and laws should be activated to achieve economic desired end.
He Baidhani that the national industrial staffs are able to meet the needs of the markets of its production to the advantage of its standard specifications.
for its part ur State company revealed one of the Ministry of Industry and minerals it is equipped with the private sector to 96 tons of clips of aluminum high - class than the importer.
He said the Director of Information Center and public relations of the Ministry Abdul Wahid Alwan Hamoud said the company 's production of sections of aluminum and other products saw a large turnout by the private sector.
he noted that the company launched a new production of wire Siemens scheduled measuring 4X2 in local markets and across the marketing position of the company.
he said: cadres technical and engineering at the company has been able for the first time from the wire Siemens scheduled manufacturing measuring 4X2 after the design templates and evidence within the international standards.
he said it was based on self - help, noting that after the trial run success produced a factory 10 km from the new Siemens wires that have undergone checkups control fine quality is then put in the local markets.
the technical staffs in ur public company managed earlier in the rehabilitation Makinte piston and tapes in the rolling mill extraordinary efforts and for a pittance and Stsihaman effectively to produce discs with multiple uses that have been contracted out to sectors public and private as he finished Associates of electric cables factory outstanding mechanical maintenance business process re - design and create mechanical piston Alhaadroleik for pressing copper - aluminum damage.
rcookie says(5:09 PM):
Vlkn rich know!
between theory and treatments experts and those interested in swinging the national economy waiting to bail him out of the fact deteriorating experienced sectors of production and service. The
size of the imbalance suffered by a large economy and accumulated since decades without any interest and expanded the size of the economic shenanigans after 2003 , where the process productivity timid stopped before this date, which was arise here and there.
when calculating the gap between the economic reality of Iraq compared to neighboring countries , we find a significant difference, although the potential and size of the wealth in our country than all the countries in the region , without exception, where we have resources depleted and non - depleted , which is a source of great economic power is not available in most countries world.
Since that Iraq has this wealth , he did not exercise effective role economically in the international arena, as he is one of several countries have elements of production and the market at the same time , this new title could build a robust economy , when there are real visions for achieving this national goal ultimate. the
economy in dire need of national will work to restore economic routes to its senses and begin to identify the national economy and then take to the field work by the public and private sectors and to identify the correct paths to economic construction by providing able to attract investments healthy environment.
can not be achieve economic development of our laws window that intersect with each other and confuse any development work, which requires us to form a quick committees working to modify and refine laws during the period of information guarantees the rights of all shareholders developmental process to start after hard work of field in cooperation with the global effort advanced and owner of the technology and capital to take actions projects in various sectors production and service departing from the great work that it takes the economy of the size of waiting for a real development opportunity to be an economic tiger VIII. the
requirements of the overall economic development are available on a wide range of natural resources and human resources young can be employed to achieve the goals, and takes the reality of the economy is the real draws national to build a multi - robust economy , resources for unimpaired crises and economic shocks.
jfd says to rcookie(5:13 PM):
If Iraq wanted to get their economy going strong producing products like Vietnam would they want to keep their currency low so items could be sold cheaply like Vietnam?
SRW says(5:15 PM):
Huh? I think Vietnam would revalue in a heartbeat!! What you talkin about!!
jfd says to rcookie(5:18 PM):
If their currency is too high then they cant sale their products cheaply.
BGG says to jfd(5:21 PM):
Not an accurate portrayal. Sorry.
jfd says(5:23 PM):
jetset says to BGG(5:30 PM):
lost 7 lbs last week on the "GM DIET" - we are transitioning to the BGG low carb diet today.... onward, forward.
(5:31 PM)jetset was kicked out by jetset!
SRW says(5:42 PM):
Onward DU soldiers!! Dinar is the game and Rcookie is to Blame!! Who could ask for any better news than we have had all day!! IMO
rcookie says(5:45 PM):
Economic reform in Iraq (5-5)
Adnan al - Janabi *
General observations about the production and marketing of oil:
First , Iraq has the largest reserves of crude oil , traditional in the world.
Second , production costs in Iraq are the lowest in the world.
And based on the facts above, in the interest of Iraq , crude oil prices are globally moderate to limit from entering rivals such as oil more expensive (heavy oil and oil from deep shale and oil) and from alternative and renewable sources. Also in Iraq 's interest to encourage an increase in demand for oil on the back of moderating prices.
Based on these postulates, Iraq needs to be based on the acceleration policy to increase production to compensate for low prices and not vice versa. The increase in production requires based marketing strategy to:
( a) multiple export routes that have a surplus of private and investment cost in different pathways are relatively low - lying to maneuver.
( B ) follow the marketing strategy relies interfering with the markets, especially in Asia, and build mutual interests with common markets such as investments in the liquidation and distribution in those markets.
Second , electricity
interfere in the field of electricity several different activities sometimes intersecting, the sector managed disproportionately with the Constitution and the powers granted to the regions and provinces. We must when talking about reform in the electricity sector that includes the administrative structure of the sector.
It is useful to transform the Ministry of Electricity to the general supervisory body and striped and the Organization of electricity across the country, without the body itself be executing any of the following operational activities:
-1 electricity production.
- 2 electricity transmission.
-3 distribution and collection.
4. The fuel electricity.
1 - Electricity production:
it is necessary to study the conversion of all production units to companies (private or public or mixed) operate according to market principles and competition. It will be an important resource in this transition to the Treasury through the sale of some production units to the private sector.
rcookie says(5:46 PM):
And taken advantage of these resources to finance investments in the energy transfer. It must immediately planning to produce 30 thousand megawatts by the year (2020), and work on the circulation of the combined cycle (Combined Cycle), and the use of gas style cushions for fuel to produce electricity.
2 - transmission:
prefer to stay transport networks based public company funded centrally managed and supervised public Authority for Electricity.
4 - and Codalkahraba:
prefer the provision of gas to the cost of production of all power plants. I also prefer to bear the budget (Ministry of Finance) , the cost of imported fuel and the cost of the purchase of petroleum products from local producers, electricity is also can not be smuggled smuggled oil products subsidized. The electricity support, whether deliberate pricing, it could be one of the most forms of support justice.
To support the benefits of the national economy by giving local producers (industry, agriculture, services) feature internal and external competition. The support will be caused by a fuel saving cost of production.
Supplement (3) and the Ministry of Commerce
First: the gradient in the ration card in the first phase of transition from distribution in kind of the components of the card to the cash payment smart card, and unite the smart card for all families in collaboration with the Ministry of Interior and the Ministry of Displacement and Migration Independent Commission for the elections, and the formation of a unified information base with the national identity and access to open a bank account for each adult citizen. And have it all within universal basic income program , which should make up for all types of government support (UBI).
Second , continue to support the purchase of wheat and rice from citizens. And cooperation with the Ministry of Agriculture to end support for agricultural inputs (fertilizers, tractors, combine harvesters ... etc.) and stay on the support of modern irrigation techniques (sprinkler and drip and greenhouses). The input support tainted by a lot of corruption , while supporting the output ( the prices of wheat and rice) is less prone to corruption and focus on actual production. It can farm compensate for carrying input cost increase of prices of the receipt of production.
rcookie says(5:46 PM):
Thirdly , to continue supporting the flour for bakeries to provide bread cheap system solves the distribution in kind of flour shop.
Fourth , with regard to companies and the Ministry of Altjarh.enbga liquidation of trading and sales companies , such as supermarkets Company and the automotive trade, re structural and other companies toward liquidating or transferring to the private sector. The conversion work grain trading company to the strategic management of inventories and receiving crops of wheat and rice, and flour processing bakeries subsidized.
Fifth , should shift to the legal registration of companies reporting a book documenting when reverse no more. And turning circle to circle the documentation and follow - up does not complicate management and extortion. It should be recording a new company does not require more hours, rather than months and years. We should launch the freedom of naming companies wishes of the owners that the names do not match. Suffice it to a character difference in the name is acceptable as a name, and the launch of the freedom of the labels in foreign languages. It can accomplish all of this electronic application form.
Annex (4) to solve the housing crisis ,
Iraq needs more than (200,000) new housing units to meet the needs of natural growth of the population if we assume that the average family size in the future five people. During the past twenty years , the number of housing units being added each year is a tenth of that figure. It also is a small percentage of housing units in the countryside and even in inappropriate cities for housing , such as mud houses and houses of shanty towns. In addition, about a quarter of homes that are uninhabitable at its inception are now developing is not suitable due to obsolescence and expire facilities , health and electrical Tosissatha ... etc.
Appreciates better housing studies shortage of housing units in Iraq , now more than a million and a half units. Some estimated two million and a half million housing units, especially if we take into Alaattabarma devastated by wars and annual increases in population and aging is a small number of residential units.
This means that any program to bridge the housing gap must be built to provide half a million housing units per year, for five years. If we know that the Land Bank and the Housing Fund financed each about ten thousand housing units at best it will be clear that this type of housing finance is not practical and is not serious. The government housing projects can not cover more than 10 percent of these needs at best. Note that successive governments have failed to provide any serious number of residential units.
rcookie says(5:47 PM):
The construction of 500,000 housing units per year require investments of at least $ 25 billion . This is equivalent to the budgets of big states. Nor can any country whatever resources that provided from the general budget on the expense of public money, the state may provide housing for some of the staff , such as physicians near hospitals, and teachers near their universities and housing - related workers in remote areas.
It is no interest be distributed housing projects to the ministries and local administrations, initiate each project is limited to employees or to low - income people, because this pluralism be random and expensive.
should enact a law the General organization for housing capital roundabout least a billion and a half billion dollars. And be in the management of the Fund to represent the province and the provinces and the secretariat of Baghdad by the population in, and financed by the central federal government budget, organization and empowers the authority to allocate land for housing projects.
While the state funded infrastructure of residential areas selected and overseeing its implementation and to cover the benefits of subsidized housing loans, through the detailed arrangements with banks wishing to participate in the housing projects.
The Foundation undertakes to cover the benefits of credit spreads, insurance coverage operations on the risk of default and accidents. Any institution that guarantees the loans and assume its benefits.
And bears the state (federal government and the regions and provinces) infrastructure cost of roads, streams and connecting electricity, schools and clinics ... etc. These services provided by the state anyway.
* Deputy Economic Researcher
rcookie says(5:48 PM):
THAT IS PART 5 OF A 5 PART SERIES ON ECONOMIC REFORM IN IRAQ.........
SRW says to rcookie(5:49 PM):
subgirl says to rcookie(5:49 PM):
WOW some great reading for me then!!! thank you so much!!! (y)(F)
subgirl says to hutch(5:50 PM):
hutch thank you for all you do too!!! YOU ROCK!!!! :) I appreciate you so much!! (y)(F)
(5:51 PM)jtank was kicked out by jtank!
jimplants says(5:52 PM):
if Hutch RC and WMA were Clemson fans they would be perfect
SRW says to hutch(5:53 PM):
rcookie says to jimplants(5:54 PM):
rcookie says(5:55 PM):
The final version of the draft budget calls for a reduction in consumer spending to ensure salaries and retirement (Details)
26-09-2016 09:05 PM Hits: 1084
Orbit News -
They discussed the crisis cell headed by Prime Minister Haider al - Abadi, the final version of the draft financial budget and ensure the armed forces ' requirements.
Information Office of the Prime Minister, said in a statement, "Prime Minister Haider al - Abadi chaired a meeting of the crisis cell in the presence of a number of financial and economic advisers."
The statement added that, "During the meeting , discuss the finalization of the draft financial budget and a review of its provisions , including working to reduce consumer spending to ensure salaries and pensions and to secure the armed forces requirements and increase the production of electricity, as was discussed to increase non - oil revenues by relying on suitable for this purpose measures." according to the statement.
The statement stressed, " the importance of raising the efficiency of the performance of all state institutions in the light of the challenges taking place in the country and provide the required services to citizens where requires more work and procedures that put the country on the right track."
rcookie says(5:56 PM):
HMMMMMM...LOOKS FAMILIAR....WHERE DID WE READ THAT FROM...
subgirl says to larrykn(5:56 PM):
let me know when I can give you a break ok? :)
(5:57 PM)RickeyT was kicked out by RickeyT!
larrykn says to subgirl(5:57 PM):
you can have it now if your done
subgirl says to larrykn(5:58 PM):
yep all done mowing!!! yyaayy!! :) lol
jimplants says(5:58 PM):
SRW says to rcookie(5:58 PM):
Maybe.... On the last call!! Hmmm....
larrykn says to subgirl(5:58 PM):
let me copy
(5:58 PM)subgirl changed nickname to subgirlcopy!
Continue to Part 10 | Link to Part 1