View Full Version : Mr. Bahaa al-Araji: Iraq is suffering from a financial crisis and not economic

04-26-2015, 10:52 PM
Deputy Prime Minister Mr. Bahaa al-Araji: Iraq is suffering from a financial crisis and not economic “Bahaa al-Araji,”

Deputy Prime Minister stressed that the investment experience were not required during the previous years level. Mr. “al-Araji,” he said during a speech Sunday morning April 5, 2015 through the signing of the public infrastructure of the city of the new draft Basmajh between the National Investment Commission and ceremony Company Hanwha, South Korea, that experience Alastt Mar were not required level during these years, and why was not the part of the body, the latter worked in all its efforts to provide what can be provided, but the reason for the existence of the complexities in the Empty law and the conditions experienced in Iraq and the region .

And the Deputy Prime Minister pointed out that the crisis has always made ​​states, so some may refer to the crisis faced by the region, especially in connection with the decrease in oil prices as a real crisis will affect the Iraqi economy, but we say that the Iraqi economy is not affected by this and a lot of experience, even though we may be in front of and not economic,

and this crisis is that we think about finding alternatives to a financial crisis, and in the introduction of these alternatives that made ​​the Iraqi government in its priorities is to invest, and for this we are seeking to be not investment is a slogan as it was in the previous phase and will not be so complicated, and there is a paragraph in the general budget for this year,

the law allows for all ministries, agencies and provinces to contract with the private sector exemption from the laws. As Mr. “Araji” reported that he and two weeks ago, Council of Ministers approved important decisions pertaining to the investor, and especially in the field of oil and energy,

such as removing the medical tests that are imposed on workers and investors and facilitate visa (visa), as our face Iraqi embassies abroad to grant access to investors visa, as well as a mechanism to avoid disrupting the transactions in the customs status, to the end of many of the procedural matters that were hampering the investment process.

Mr. Deputy Prime Minister concluded by saying: We are reviewing all investment contracts signed by the Iraqi side with the companies, and there will be an evaluation of their work and subsequently will provide the government all necessary for the sustainability of dealing with companies that facilities will stand with Iraq in the re-construction and reconstruction process.

04-26-2015, 10:58 PM
Economists: Central lifted the dollar to cope with the financial crisis Recent central bank measures for the sale of the dollar at auction helped raise the value of the dollar against the dinar. BAGHDAD / Obelisk: Download a number of experts and specialists in the financial and economic affairs, the central bank responsible for the local currency degradation and raising the US dollar exchange rate, the grounds contain the financial crisis afflicting the country, while warning of rising inflation in the domestic market as a result of the continuing decline in the dinar exchange rate against the dollar. He says the economic and investment commission member of the parliamentary Majid Chenkali, that “the recent central bank-specific procedures to sell the dollar at auction helped raise the value of the dollar against the dinar, where he cut his sales pretext to contain the financial crisis faced by the country, in addition to the presence of mafia operating within the central trying to inflict damage the national currency for their own personal interests. ” He Chenkali according to the agency “dinars”, that “the central bank must take supportive action of the Iraqi dinar and the fight against those who tamper with the security of the national economy, because the interest of the country above all else.” The student Chenkali, the government speed up the development of the banking and industrial sector especially what we observe these days there are a significant rise in the dollar against the Iraqi dinar “, calling for” legislation Investment Act helps to bring international companies to develop Iraq’s infrastructure. ” With the parliamentary finance committee attributed, why drop the dinar exchange rate against the dollar to decline in fiscal revenue belonging to the state from oil sales, indicating that the oil was sold at more than $ 100 a barrel and today reached its price to below $ 50 and this means that revenue fell by 50%, which impact on the national currency exchange rate. ” Haider said that his committee “discussed with the Governor of the Central Bank on the Keywords main reasons for the decline in the dinar exchange solutions effective for the return of stability of the price,” adding that “the central bank will take new measures to maintain the hard currency and the return of stability of the dinar against the dollar.” He said, “The measures will include open outlets to sell the US dollar after the lack of display in the local market and its high price will contribute to a decline of the dollar, stressing that the dollar selling price pursuant to Article 50 of the budget reflected negatively on the Iraqi citizen Madf Finance Committee to call for pumping the dollar in the market.” almasalah.com Related Posts central bank deliberately lifted the dollar to cope with the financial crisis (Apr 25, 2015) Central Bank: The rise of the dollar because of customs duties (Apr 25, 2015) Keywords: 80 tons of central bank gold reserves (Apr 25, 2015) Declining value of the dollar against major currencies (Apr 24, 2015) Sterling rises to highest level in five weeks against the dollar (Apr 24, 2015) Tags: central bank Dinar dollar exchange rate