Post From Dinar Updates
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Dinar Updates Saturday PM Chat 8-27-16 Part 3 of 3
rcookie says to MrsBGG():AND THIS IS WHY COLLECTING THE ELECTRICITY TAXES ELECTRONICALLY....AS RECENT AS TODAY IS SO IMPORTANT...
rcookie says to MrsBGG():OOPS..
rcookie says():Reform the electricity sector by a combination of the following measures:
o implementing the progressive electricity tariff schedule designed by the Ministry of Electricity in 2015, which could yield nearly ID 2.2 trillion (1.8 percent of non-oil GDP) in additional revenue for the electricity sector; the additional revenues will be used to finance off-budget investment
rcookie says():and repay bank loans of the electricity companies;8 the tariff increase will not increase the tariff for the consumption below 600 kilowatts per month in order to shield the poorest; and
rcookie says():reducing gas flaring by using it for electricity production, which, according to the World Bank, could yield about ID 1.4 trillion ($1.2 billion, or 1.1 percent of non-oil GDP) in budget savings per year with an upfront cost of $0.5 billion starting in 2017:9
to that end, the Ministry of Oil paid all its 2015 arrears to the Basra Gas Company (BGC) amounting to $204 million, will pay its outstanding 2016 arrears of $140 million by end-May, will pay its estimated remaining gas purchase from BCG in 2016 amounting to $700 million within the contractual 45 day-period after billing,
and will use at least $145 million of its investment budget in 2016 to finance the gas flaring-reducing investment project at the BGC.
rcookie says():SOME OTHER THINGS THESE SLACKERS ARE DOING BEHIND THE SCENES PER IMF.......
rcookie says():Reform the Food Public Distribution System (PDS).10 The Ministry of Labor and Social Affairs (MOLSA) is setting up a Proxy Means Testing (PMT) data base with the assistance of the World Bank.
When that database is completed, the MOLSA will have a database that will be used to determine eligibility for cash transfers based on available budget. This same database could be utilized by other programs (i.e. PDS) to target their assistance (cash or in-kind) to the poor households based on their welfare scores as determined by the PMT.
rcookie says():AGAIN... UCH MUCH IMPROVEMENT OF ACURACY/TRANSPARENCY & TIMLINESS TOWARD THEIR ECONOMIC DATA REPORTING....
MrsBGG says to rcookie()::D
rcookie says():AND...WHY ARE THOSE ELECTRICITY NUMBERS A YAWNER FOR US...BUT SO CRITICAL TO AN ECONOMY REINVENTING ITSELF LIKE IRAQ'S...
rcookie says():8 In 2015, total electricity consumption was 42 TWh, revenue amounted to ID 0.8 trillion while the cost of producing electricity, with oil supplied at $5 per barrel, amounted to ID 5 trillion.
This tariff increase has the potential to increase the electricity sales to ID 3 trillion and reduce the gap with production cost to ID 2 trillion. In 2015, the central government consumed 4.5 TWh.
This tariff increase will increase the cost of its electricity bill from ID 73 billion in 2015 to ID 675 billion in 2016, compared to ID 360 billion in the 2016 budget. Credits for electricity consumption were revised upwards accordingly in the revised fiscal program for 2016 (¶20).
rcookie says():AND WHY THE PDS (PUBLIC DISTRIBUTION SYSTEM) IS SO IMPORTANT TO THEM...
rcookie says():10 Moving to a more targeted PDS could yield annual savings of up to ID 1.8 trillion (1.4 percent of non-oil GDP). See“Food and Electricity Subsidies” in IMF Country Report No. 15/236. Iraq: Selected Issues.
rcookie says():AANUAL SAVINGS OF 1.8 TRILLION IQD...OR...1.4% OF NON OIL GDP BY IMPLEMENTING THIS DATABASE SYSTEM...
rcookie says():THIS IS THE LAST ONE IN EXPENDITURE REFORMS.....AND THE NUMBERS ARE STAGGERING..
rcookie says():Reform state-owned enterprises (SOEs). Non-financial SOEs in Iraq include a large variety of public entities, including ministries’ directorates/departments, and bodies. There are 176 SOEs in Iraq, with over 550,000 employees, of whom 30 to 50 percent are estimated to represent excess labor.
Many of these SOEs have limited rationale beyond providing public employment. As a result, they are structurally loss-making and present a large burden for public finances.
The exact scope and scale of the economic, financial and fiscal cost that SOEs represent in Iraq is, however, unknown due to poor reporting of key financial and economic statistics on the 176 non-financial SOEs.
Similarly, the transparency of financial SOEs is limited. With the assistance of the World Bank, the government has started to set up a database to monitor the fiscal risks of non-financial SOEs. Building on this information, the government will elaborate measures to restructure the non-financial SOEs on the occasion of future reviews of this SBA.
rcookie says():THERE USED TO BE 192 SOE'S...NOW DOWN TO 176..
rcookie says():550,000 EMPLOYEES....30-50% ARE EXCESS LABOR....
rcookie says():MEANING UP TO HALF OF THE LABOR FORCE THEY ARE PAYING FOR EVERYMONTH ARE UNNECESSARY!!!!!
rcookie says():WITH MANY MORE CLASSIFIED AS SERVING NO PURPOSE BEYOND PROVIDING PUBLIC EMPLOYMENT...ARE STRUCTURALLY LOSS BURDENS OF STATE FINANCES....
WHICH CANNOT EVEN TRULY BE ACCURATLY MEASURED BECAUSE OF THE POOR FINANCIAL REPORTING SYSTEMS IN IRAQ.....SO THE NUMBERS ARE PROBABLY QUITE WORSE.....
SO THE WB HAS SET UP A DATABASE TO MONITOR THE FINANCIAL RISKS OF THESE NON FINANCIAL SOE'S TOWARD FUTURE RESTRUCTURING.......
IN THE EXACT SAME WAY THAT THEY ADDRESSED THE 2 SOB'S...WHICH THEY ARE ABOUT TO REVEAL TO THE WORLD........
rcookie says():ANYONE INTERESTED....
rcookie says():OK THEN....DINNER...
rcookie says():investment opportunity 32
Author: Yasser incumbent 8/28/2016 0:00 It became clear the possibility of stimulating investment , who missed much because of the financial situation and the crisis that befell not only in Iraq alone , but in most developing countries , how?
Not long ago we pointed out in a column in this field specifically to investment opportunity idealism in Karbala province to build an integrated city services to accommodate the expansion in terms of own designs suggest the possibility regarded as a model.
today, after the head of the Investment Commission of Baghdad , Shaker al - Zamili detect display 32 completed and integrated investment opportunity and did not need to bother extra endures investor revisions, especially the resolution of the ownership and the ownership of land declared for the establishment of investment opportunities and which was the obstacle in the way of investments, including making Baghdad repulsive environment because of it and the fact it is good news and Baos hope can stimulate investment.
She fully Basghae Madar from a televised interview with Zamili in the free program of Iraq , the economic terms were clarified variables on the measures to allow the Mstmr to proceed in implementing the project after receiving a license with ease
Importance of opportunities? Investment is the extent of its contribution to achieving the development goals by activating the productive sectors and the fight against unemployment and tackle poverty and improve health and school services, certainly Zamili Eshrha in the context of his speech, the question is how much infrastructure to provide these opportunities? Is contained in the context of implementation?
Eight priorities of these projects are very important issue where pointed to the importance of energy projects as a foundation to move the production development projects nerve question answered about himself. We hope to these investment opportunities of success with our discretion to determine the 45 days I think it 's not enough for feasibility studies give the opportunity for external offers and competition.
Finally , we see an optimistic effort, and we will follow up the results to see the heads of Iraqi funds migratory Will you participate in this opportunity for the children of the country first built as the opportunity?
On the Iraqi private sector real
rcookie says(): Hmmmmm.....32 INVESTMENT OPPORTUNITIES KARBALA....
WHEREVER HAVE WE HEARD THAT FROM.........
rcookie says():IS DAY IN HERE...
rcookie says():HERES A SATURDAY NIGHT SMILE BEFORE FOOTBALL....
rcookie says():Proposals to review the economic feasibility studies
8/28/2016 0:00 BAGHDAD - Al- Sabah
stressed banking expert Samir Abbas high compactness proportion of the total money supply among the citizens and the impact on the business market requires activating the role of the Iraq Stock Exchange in investment and supporting the national economy to attract.
To support the role of the stock market in the economy Abbas suggested in an interview for the "morning" do feasibility studies by the joint - stock companies to increase their capital to the uses of those increases and give a clear opinion in connection with it to the Securities Commission and the Central Bank of Iraq before approving increases in the capital.
He also called for the development of monitoring and follow - up and evaluation system for the performance of the contribution and determine the kinks and negligence and violation of law firms the regulations in force, stressing the importance of the contribution to provide disclosure of monthly, quarterly and annual that transparency and corporate reports provide annual financial results in a period not exceeding 60 days of fiscal year end.
For the purpose of activating the role of the Iraq Stock Exchange in attracting foreign investment Abbas also suggested the establishment of the Deposit Insurance Corporation and speed up the enactment of the legislation in order to protect public deposits and encourage them to go to the banks and to benefit from the services they provide, and to achieve the central objective to raise the savings ratio to calculate the proportion of compactness and address the lack of liquidity in banks and its impact on the cash market trading.
rcookie says():He said Abbas importance of promoting and activating the central bank initiative to lend to banks for financing small and medium enterprises to achieve economic and social goal, as well as the banks and the Iraqi market for securities to benefit from the launch of the central bank 's government bond interest rate of 8 percent for a period of two years for the purpose of reimburse contractors and ensure prepared to give them banking facilities of all kinds of bonds by banks as well as to encourage citizens to acquire in order to withdraw liquidity for internal cash trading.
He influenced Iraq Stock Exchange greatly influenced by the conditions experienced by the country since 2014 because of falling global oil prices, and the costs of the war on terrorism, and other economic accumulations led to the decline in the growth rate in GDP (0.5 percent) and high unemployment rates to 50 percent and poverty to 25 percent and inflation to 2 percent fall in the savings rate of the Central Bank of Iraq to the extent of 20 percent.
rcookie says():SO....ABBAS STATING THAT DUE TO COMPACTNESS LEVEL OF MONEY SUPPLY IN MARKET AND IMPACT ON THEIR BUSINESS MARKET REQUIRES.....
ACTIVATING THE IRAQ STOCK EXCHANGE...........IN ATTRACTING INVESTMENT AND SUPPORT OF THE NATIONAQL ECONOMY....
rcookie says():TO SUPPORT THE ISZ ROLE...TO DO FEASIBILITY STUDIES BY THE JOINT STOCK COMPANIES TO INCREASE CAPITALIZATION AND THE USES OF THEIR INCREASES AND RELAY INFORMATION TO SEC AND CBI BEFORE APPROVING CAPITAIZATION INCREASES.....
rcookie says():CALLING FOR INCREASED MONITORING AND FOLLOW UP....AND A SYSTEM FOR PERFORMANCE EVALUATION FOR TO OUTLINE THE KINKS IN THE SYSTEM AND REGULATORY VIOLATIONS THROUGH DISCLOSURE OF TRANSPARENT MONTHLY AND QUARTERLY & ANNUALCORPORATE REPORTS WITH FISCAL RESULTS WITHIN 60 DAYS OF END OF FISCAQL YEAR...
rcookie says):TOWARD ACTIVATING THE ISX AND ATTRACTING FOREIGN INVESTMENT...HE ALSO ASSERTS THE NEED TO SPEED UP ESTABLISHING THE DEPOSIT INSURANCE CORPORATION AND ENACTMENT OF LAWS TO PROTECT PUBLIC DEPOSITS AND ENCOURAGE CITIZENS TO UTILIZE BANKS AND THE SERVICES THEY PROVIDE AS A MEANS OF RAISING THE SAVINGS RATIO IN CLCULATING COMPACTNESS AND ADDRESS LIQUIDITY CRISIS IN BANKS AND CASH IN MARKETPLACE....
rcookie says():LASTLY...PROMOTING CBI TO ACTIVATE CBI INITIATIVE TO LEND TO BANKS FOR FINANCING SME'S TOWARD ECONOMIC & SOCIAL GOALS...BANKS, ISX,
AND LAUNCH OF CBI BOND INTEREST RATE OF 8% FOR 2 YEARS...
AND SAYS THE ISX NOT LAUNCHING DRIVEN BY CONDITIONS EXPERIENCED SINCE 2014....
rcookie says to Okie Dinar():HI OKIE!!!!!!..........THAT IS AWESOME!!!!!!!!!!!!!!!
workhard says to rcookie():Every dinar they can squeeze adds to their bottom line and over a some time it really adds up and ultimately refelects in the GDP
rcookie says to workhard():WELL SPOKEN...
rcookie says to Okie Dinar():YVW....THAT LAST ARTICLE IS AWESOME!!....BBL..
jeffjane says():Does it give a date for the ISX activation?
Holly1 says(): Juice for cancer treatment in 42 days!
Austrian physician Rois Rudolph , who spent most of his life in the search for the best natural medicines for cancer treatment is advised, and recently achieved his dream of discovering the juice spends on cancer and other incurable diseases.
In order to reach this discovery Rois conducted experiments on more than 45 thousand people they were suffering from cancer and other incurable diseases.
Holly1 says(): The doctor advised Austrian adopt special diet duration of 42 days during which the patient drank only tea and vegetable juice , which was invented and is composed of a high proportion of "beet" (smell Wonder).
Rois said that cancer cells Stjoa and die after 42 days, it will also help this juice to improve the patient 's health overall.
To prepare this unique juice This is the recipe: "beet" (beet) 55% of the juice, carrots by 20 %, celery root 20%, potatoes 3% and radish 2%.
Holly1 says(): He noted Rois to be a way to prepare the juice is very easy, it is enough just mixing ingredients Balkhalat supply, then drink to start the healing process.
The "beet" (beet) kind of vegetables are very nutritious , it contains vitamins B1, B2, B6 and acid folic and iron, zinc, antioxidants, potassium, phosphorus, magnesium, calcium, sodium.
Holly1 says(): and contain "beet" (beet) as well as on Albatayen ( "Betaine") which is an amino acid that has anti properties cancer and anti-inflammatory and diluents for the body of toxins. The findings of previous studies that "beet" very effective against cancer , especially from blood cancer.
This has "beet" a sufficient quantity of acid folic, make food , excellent for pregnant women , as it is very helpful for headaches and menstrual pain and problems with bones and skin.
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