Contracts and agreements .. The most important economic (range) follow-up for the year 2017




 Baghdad / Zahraa al-Jassim
Exit Iraq from the seventh item and open the atmosphere are the two most prominent events

With the important political events that took place in 2017, including the victory of Iraq to bring out an organization from the areas he controlled in 2014, the economic events were no less important than the "(range) role in the follow-up of many files for the oil sector - Industry - Agriculture Tourism - Transport, in addition to the file of the banking sector, which witnessed a clear development through a number of decisions and procedures reflected clearly on its performance.

Although the impact of oil was clear on the overall economic events in the world with the continued freeze of the Organization of the Petroleum Exporting Countries, which has clearly contributed to increase prices to the highest level in two years, Iraq has continued to develop its fields and its oil, where he called for companies to discover other border patches, 7 billion for the ten months of 2017, which contributed to reducing the proportion of the deficit forecast for the budget of 2018, which is still subject to discussions and differences between the blocks inside the parliament, the seal of the year by lifting the embargo on the Iraqi airspace, and Iraq
out of Chapter VII .. 2017 Exit the chapter the seventh
where he acknowledged m Council of International Security in late 2017, that Iraq and in another of its obligations regarding the decisions of the seventh item, which is destined to provide opportunities for encouraging foreign investment in Iraq after more than forty years of great conflicts and the decline in economic development and progress, and will launch money.

Oil
2017 extension of oil pipelines call for companies to invest and increase revenues
The Ministry of Oil in 2017 called on international companies to invest through the implementation of a project to extend a new pipeline for oil exports from the fields of Kirkuk to the Turkish border, and invited German companies specializing in the oil and gas industry to participate in projects The development of the oil and gas industry, with the call for foreign and Arab companies to invest in this sector, with the signing of memorandums of understanding and several contracts for cooperation between Iraq and other countries in the oil field.
Oil Minister Jabbar al-Luaibi on 27-11-2017 called on foreign companies to offer oil and gas exploration in 9 border points, stressing that it is an important step towards adopting a new commercial model and financial terms different from the previous licensing contracts. He also announced that his ministry has achieved financial revenues Amounted to 48.880 billion dollars, an increase of 7 billion in only 10 months of the year.

2017 witnessed a significant decline in the budget deficit for the first time
The parliamentary financial revealed a decrease in the budget deficit for the year 2018 by 13 trillion dinars after it was 27 trillion, because of the recommendations of the International Monetary Fund, which put Iraq in the right way in the management of state funds and government expenditure pressure, Oil than expected, in addition to the growing sources of financial revenues in the budget, and the optimization of non-oil resources.

The implementation of the "e-government 2017
has begun the Ministry of Communications, the implementation of the stages of the project," e-government ", which links the state departments to each other via the Internet spider, which contributes to the paperless way it and reduce the operating expenses of the state and the general civil interests by not less than 3-5% Of GDP, as confirmed by a financial adviser.

Investment
The reconstruction of the liberated areas was one of the topics that were highlighted intensively and continuously. At a time when the United States and the international community were working to secure grants for the reconstruction of liberated Iraqi cities, it was worth more than $ 115 billion. Reconstruction grants exceeded $ 115 billion , And showed that the opportunities for foreign investment in Iraq is latent and long-term "As the country holds huge oil resources with the need for large reconstruction projects, in the hope that this will be achieved after the conference of donor countries to be held early next year, the range also followed the positive changes in economic relations between Iraq and Saudi Arabia and the Saudi opening to Iraq, Al-Falih after several visits that the two countries will develop appropriate mechanisms to achieve economic partnership, and with the opening of border crossings headed more than 44 Saudi investment companies to participate strongly in the Baghdad International Fair in preparation for contributing to the reconstruction process.

File water
A severe water crisis hit the Iraqi provinces 2017 On 29-11-2017 A report for "(range) that the acute water crisis that hit most of the Iraqi provinces affected by the concerned, on large areas of agricultural land, while the heroes provincial councils that are trying to acquire on water quotas in various ways without taking into account the neighboring provinces rights.
as instructed the Minister of resources impact the implementation of a project to invest in water flowing from Iran in 2017, at the time of Agriculture and parliamentary water announced near the start a project to invest in water flowing from the border areas with Iran, which will be in the form of a channel to assemble Water inside the Iraqi border to solve the water problem by securing the quantities to be used for drinking and agriculture, an expert pointed out that the first five - year plan for Iraq is the tasks of activating the productive sectors such as agriculture and solve the water crisis.

Transport file
open skies and seek to buy planes to increase sea and land ports revenue was the most prominent events of the transport sector for the year 2017, Where the Ministry of Transport confirmed that the aircraft Ukrainian the "15 aircraft", which was agreed upon in a way the lease will enter service next year, after the completion of administrative procedures and offer The Aviation Authority confirmed that the benefits of opening the Iraqi airspace will include several economic sectors and return to the state treasury with financial resources estimated at 70 million dollars annually, which is maximizing the resources of the non-oil state.
Between the last report of the Border Crossings Authority, that the volume of revenues received from these outlets amounted to 60 billion dinars in the month of November last year, a significant increase from the previous year. The lifting of the embargo on Iraqi airspace after the closure of four years, as it was very important to increase financial revenue To the Ministry of Transport and the Aviation Authority has indicated that the benefits of opening the Iraqi airspace will include multiple economic sectors.

The file of the banking sector
meetings, including several officials and specialists in the banking sector followed by the range, as was the most important reports in 2017/12/28, where the first time Rafidain Bank ATM service to withdraw money from anywhere, which was considered an economist an important step in the direction While continuing to grant loans to various groups of society, in addition to the central announcement of the establishment of a loan fund that can grant 10% loan to finance infrastructure projects of the country, while working to settle salaries for employees in the private and public sectors of economic development, and the announcement of a new project To provide d To local banks 10-25, with Iraq issuing sovereign bonds for the first time to deal with the global capital market.

Wishes for 2018.
Finally , with the relative improvement in electricity after the application of the government system of privatization despite repeated them objections, obsessed with the elimination of unemployment and file external debt and loans that confirmed the International Monetary remains that it will rise to $ 132 billion next year, one of the most important concerns of the respective personnel in economic affairs , At a time when most of them call for the need to move towards maximizing non-oil resources in the hope that the year 2018 will see a recovery in this aspect, which is equivalent to the income of oil, which still depends more than 95% of the size of Iraqi budgets.

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