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  1. #1

    Mr. White article from the cc ................................ ?

    Deputy: Most ministries complain of delay in the arrival of the annual financial allocations .. Parliament demands to speed up the approval of the budget 2013

    11.12.2012 | (Voice of Iraq)

    Baghdad (news) called a member of the Committee on Economy and Investment National Alliance MP Salman al-Moussawi, the need to pass the budget bill to be discussed and voted upon before the end of this year, adding that most of the ministries are complaining of late arrival T_khasisatha financial budget for years. Moussawi said ( Agency news): must take bill budget (2013) of great significance and exceptional case by the Presidency of the Council of Representatives, because most state enterprises depends on the exchange public budget allocations. added: that most ministries and agencies complain annually delayed sending allocations within the general budget, which affect the projects and investment plans, pointing out that some members of the Economic Commission made ​​a request to the Presidency of the Council of Representatives to cancel the parliamentary recess until approving the budget public responded Council to demand. has announced the Ministry of Finance said the budget proposed for the year (2013) amounted to (113) one billion dollars, and the rate oil (90) dollars per barrel. The Cabinet has sent the budget year to the House of Representatives for the purpose of discussing and voting on them. mentioned that the Iraqi Parliament had voted on the financial budget for the year (2012) of $ (100) billion, or equivalent (117) trillion Iraqi dinars, and a deficit estimated (14) trillion dinars, laid out on the basis of the price of a barrel of oil (85) dollars.
    Last edited by Mona Lisa; 11-13-2012 at 10:40 PM.

  2. #2
    POSTED BY TNVOLUNTEER : Political crisis .. And its impact on the local economy

    Political crisis .. And its impact on the local economy

    Written by Administrator Wednesday, November 7, 2012 05:23


    All experiments have shown previous escalation of Deputies pressure and protest and objection through demonstrations on the economic track of Iraq and all parties within and outside the region know the exact financial position and put a player head on the table oil dates and numbers.

    Frame mysterious

    In this context, the mysterious to economists opinion on policy overlap interval on the line of the economic situation in greater depth than ever before

    He saw head of the accounting department in the College of Business Administration at the University of Baghdad, d. Sadeq Al-Bassam said the implications of political decisions and conditions prevailing are quite clear on the economy negatively, explaining that politics and economics are two sides of the same coin because politics fast-acting in the pressure on the economy and undermine its foundations, an indicator of normal and abnormal It is unreasonable to stabilize the financial situation and pumping investments only with the restoration of conditions Local Interior, referring to the lack of indicators of economic stability, including a deficit budget and balance in the lending rate and deposit as well as the exchange rate of the local currency against other currencies, they are mostly data available in the country in terms of origin so as to preclude the absence of any pressure on the citizens if we are eating Thread from an economic angle away from the political crisis.

    Accelerate development

    He also stressed Bassam that the wheel of development ready to move and backed financial position is strong and solid, but it depends on political stability as a key factor to make recovery and exit from recession investment through development projects, adding that political stability helps to build confidence in the institutions of the state and stop the migration of funds and attract foreign investment to the inside especially that moment where it is difficult to implement strategies and economic plans, whether long-term or short-range due to the absence of a relationship linking their growth political economic and requiring a positive development in their tracks economic whenever evolved political best and the result is stability and progress coupled with higher firm in all sectors , stressing the importance of focusing on the law as a supporter of transparency, integrity and condition to gain the confidence of investors.

    The economic expert Omar al-Obeidi said that Iraq is going through a difficult period and stymied dealers shall not in the areas of business and investment decisions inject new projects, taking into account that investment when working in an environment economy political nature and not as an economic system integrated Staff closed tightly, pointing out that there are controls must be available so that investors can make money in times of political conflict, and they just want to better understand the nature of the risks they may face, there are opportunities can already be accessed, and, of course, there will be winners and losers in this changing world.

    Political implications

    For his part, said economic expert Mohammed Thamer said the political repercussions on the economy were negative, and in all cases reflect the nature of mental transactions and reaction and Anekasthe translated immediately to losses emerged in the Iraqi market for securities after the events that came due to political tension. And saw Thamer said repercussions may extend for a period and aimed pressures extra on the economic situation for longer durations of up to weeks or months until a clearer picture gradually, especially given that the political events dominated all sectors based on what happened in the stock indexes, which came negative clearly and concretely through trades.

    He also said Thamer said stop development plans amounting to 30 billion dinars equivalent to 104.3 billion dollars that would reduce the country's dependence on the oil sector and enhance the participation of "private sector" in the projects, as a result of the situation the current political and that contributed to confuse the economic situation overall, although it came the time of approval was supposed to attract more investment to Iraq and not the other way around.

    He Thamer he long ago, economists try to support the economy, but disable leaders whether the legislature or the executive of the country led to the creation of concern, especially since he does not appear so far the rest of the political scenario, even though the Iraqi market for securities not reflect a street because it depends on the operator One market maker next group speculators.

    He noted Thamer he follow through Iraqi history, the political situation in the country does not extend for a long time, but takes a short period and ends quickly, as the country's economy dependent on oil, and not on the stock market or the private sector, so if we reviewed the conditions of oil now they are good and not associated impacts political in Iraq, where the price of oil worldwide and is far from the crisis at the moment and there is no reason for concern in the fact things are not on the reality of the political situation, especially given that the dependence of oil to the country doubled, rising from 80% to about 90%.

    In return, said Director of the Office Baghdad Chamber of Commerce in a press statement that undoubtedly the capital market market sensitive up and down the effects of a future, especially as there are other factors that contributed to the state of weakness and decline plaguing stock including the lack of liquidity and weakness, which in turn led to the absence of worker Investment in trading as a result of the political situation that things are not clear for what will happen to them from future developments during the next term, which led to this week's trading economy on speculation enveloped alert for any developments in the political escalation.

    He also stressed that there is still extremely cautious to enter the market at the moment and some pessimism of the inability to isolate himself from the political situation existing, explaining that confidence will return to the market through direct intervention and put development projects and a package of laws that will encourage to overcome the causes of the problem in increasing the volume of government spending to be reflected at the helm of the economy and accelerate the cycle of money in the market.

    He also added that the political situation escalating somewhat against economic conditions which are unchanged since the time led to a decline in investors more to lose market more confidence accompanied by the absence of almost the entire corporate and aggregates other market, explaining that the issue of political turmoil and escalating language of dialogue calls to speculate that there intention to do both at the center of demonstrations, sit or refrain from nomination or election, they eventually frighten the market indices being merely as components of the Economic Community of headers.

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    Last edited by Mona Lisa; 11-13-2012 at 10:42 PM.

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