Millionday News 1/3/15 Part 1
Welcome to dinarupdates.com for news time with Millionday!
Millionday: AS YOU PROBABLY KNOW WE HAVE GREAT NEWS
Millionday: WELCOME ALL TO NEWSTIME
Millionday: NOTE -- THIS IS A STATEMENT ABOUT THE ECONOMIC CONDITION OF IRAQ
Millionday: Yasser incumbent with a view of the new year and the era of economic reform New also highlights the need to adopt the skills and experiences that can chart the way to the foundations of this reform roadmap where undertook a selection of them to announce Ttoaha to offer advice and solutions to the non-binding on the road to correct its tracks.
Aulna much on economic affairs organizations to do this is the role that their efforts have been and are still shy and will not live up to the challenges of the stage, and if we accept the argument to the principle of disclosure and transparency, we have to acknowledge this weakness Why?
Millionday: NOTE -- THEY ARE TALKING ABOUT THE REFORM (ECONOMIC) AND THE NEW YEAR AND ITS BENEFITS
Millionday: private sector knows economically as a force equivalent to the power of the state in the power of money, so find big companies in Great nations are controlling in economic and political decisions both on the basis of this power.
This means that the private sector does not possess that power demands of connotations represented in obtaining the support of state and government, so how can they influence decisions exclusively economic prospects? Because someone thing he can not provide.
Millionday: NOTE -- THEY NEED THE FRANCHISES AND ALSO CORPORATIONS FROM OUTSIDE IRAQ TO BUILD THE ECONOMY WITH THE PRIVATE SECTOR
Millionday: The private capital Iraqi settlers there in most countries of the world means that there is no private sector real exist in Iraq, with a few exceptions,
but accept that description, according to the definition of the private sector, in such a case requires the claim that they are representatives do extraordinary efforts to attract capital and migrating with their abilities and experiences in known their success stories there this role only important to the local representation and change it.
Millionday: NOTE -- THEY NEED TO BUILD THE PRIVATE SECTOR AND MARKET THE COUNTRY
Millionday: Let us consider the fact that he faced the country in light of the totalitarian regime, who camped for more than four decades with the continuation of its laws positivism access remained culture ingrained in all of us how our salvation from this culture, they say:
The Constitution guarantees the transition to a market economy (free)? What is the guarantee under the mess interlocking laws?
So wisdom says that choosers in front of sector representatives but to work with all the means available for the return of your money the authority of the absent, and only Mavaúdh
The government financed public companies that have proven some of the failure of the result is the same, because the concern for the money is the one who actually possessed.
Millionday: NOTE -- THEY ARE SAYING THAT THE PREVIOUS WAY OF ECONOMIC RETURN DOES NOT GO WITH THE CONSTITUTION AS IT IS NOW AND ALSO IT DOES ALLOW THE GREATEST RETURN ON VENTURES
Millionday: NOTE -- AS WE WERE SAYING >>>>>>>>>
Hence the need for an economic forum like Davos Aomintdy Dubai and others to work on a voluntary basis to find solutions according arises Awalraah which was based upon the elite of perspective volunteers to provide non-binding advice to the government and non-mortgaged financial support in order to put the right steps to lure your money.
Millionday: SO THE RIGHT STEPS TO MAKE MONEY IS THE REFORM ECONOMICALLY -- NOT HARD TO UNDERSTAND BUT THEY ARE DEMANDING DUE TO THEIR OWN RIGHTS IN THEIR COUNTRY --
Millionday: UNDERSTAND THAT IRAQ`S CONSTITUTION GUARANTEES A MARKET ECONOMY FOR ITS CITIZENS --
graylnjo: A market economy with a real rate??
Millionday: A MARKET ECONOMY IS SUPPLY AND DEMAND -- SO THE DINAR IS A PRODUCT AS WITH ALL COUNTRIES –
THEY NEED A FAIR CALCULATED RATE THEY ARE GOING TO USE THAT IS FAIR TRADE AND ALSO REPPRESENTS THEIR REALITY VALUE OF THE DINAR TO TRADE INTERNATIONALLY RECOGNIZED ---
WHATEVER THIS MAY BE IT HAS TO BE FAIR ACCORDING TO GLOBAL ECONOMICS
Millionday: During the follow-up to the reality of the Iraqi economy
Millionday: THAT IS THE TOP OF WHAT I AM GOING TO SHOW YOU AND I LIKED IT
Millionday: International Monetary Fund from the effects of lower oil prices and the war with (Daash) terrorist on the Iraqi economy, despite the burden that Achklana went Fund forecast the direction of growth in the gross domestic product by 2 percent.
head of the IMF mission to Iraq said Carlo Sdrallweg (morning) that the relationship with Iraq has moved from the financial support to control since February 2013.
On a larger scale, the Fund in the last ten years in the role of head of institution-building and counseling to maintain economic stability in Iraq.
During this period, the focus of policy dialogue, conducted with the Ministry of Finance and the Central Bank of Iraq on fiscal policy, administration and management of oil revenues,
and management of foreign exchange reserves, and the fight against money laundering and the financing of terrorism.
Millionday: NOTE -- THIS IS THE REQUEST OR ADVICE OF THE IMF TO REFORM
Millionday: He is currently working on the information we have collected during recent meetings to address, and we will put a set of recommendations on economic policies within the Article IV consultation report for 2015 - a regulatory process that we do every year,
who are planning to set up in the spring after further consultations with the government and central bank. Pointing out that it is essential that the authorities adopt a realistic budget for 2015.
This means that the budget should be based on conservative assumptions of oil revenues, should also be compatible with the spending commitments and revenue of available funding.
As is the case with all of the Petroleum Exporting Countries, is the drop in oil prices the biggest current problem for Iraq, which is likely to reduce the total revenue has imposed tough choices on government spending.
Millionday: NOTE -- ALL OIL PRODUCING COUNTRIES ARE HAVING PROBLEMS WITH THE PRICE OF OIL -- IT IS NOT A DRAMA ISSUE BUT SOMETHING THEY NEED TO ADJUST FOR
Millionday: He continued to consider beyond the current crisis, the government should work in the medium term to reduce its dependence on oil by diversifying the economy, and to achieve this goal,
the structural reforms will be necessary to remove the obstacles and administrative obstacles to the existence of a competitive private sector and the financial sector is strong.
Millionday: NOTE -- OBVIOUSLY THE MOVE TO BRING IN REVENUES ALL THE WAY AROUND -- PRIVATE -- PUBLIC AND GOV INVESTMENTS AS WITH ALL COUNTRIES –
THEY NEED TO DIVERSIFY AND THE PRIVATE SECTOR IS ASKING FOR A CHANGE AND CHANCE TO MOVE FORWARD
Millionday: As for the assistance provided by currently Fund for Iraq regarding the budget of 2015, which he said did not participate directly in the preparation of the budget in 2015,
but recent meetings we held with Minister Zebari and team experts gave us the opportunity to discuss the most important issues relating to the formulation of the draft budget that addresses the challenges posed by the emergency spending pressures and falling oil prices.
Millionday: and the Fund for the Iraqi economy evaluated in the light of recent developments, said: Attacks suffered by Iraq's tragic, and it is facing grave social and humanitarian costs,
where the number of internally displaced more than two million people are all in dire need of access to basic services. As for the economic impact,
it is difficult to configure accurate idea now because of the limited economic data for the second half of the year, particularly from the provinces within the areas of conflict
Millionday: NOTE -- IT IS NOT A SECRET THAT THE EXPENSE OF WAR OR ANY KIND OF HARDSHIP IS COSTLY FOR A NATION –
DAASH AND ISIS HAS NOT BEEN FUN ECONOMICALLY AND THEY HAVE TO HAVE HELP AND MOVE ECONOMICALLY TO A PLAN THAT HELPS THEIR CITIZENS -- OPPORTUNITY
Millionday: However, Our initial assessment indicates that "Daash" attacks causing serious harm to the non-oil economy. Non-oil growth was already weak before the start of the conflict in the first two quarters of the year, but we thought it would increase a deterioration in the rest of the year because of the movement of trade disruption, and destruction of infrastructure in the four conflict-affected provinces, and the refugee crisis and the decline in business confidence in general.
In addition, , lower oil revenues and government spending to weaken the non-oil economy leads.
Millionday: SMILE >>
And that on the contrary, much of the oil sector has not been affected by the conflict, due to focus most of the oil infrastructure in the south of the country and beyond the control of the "Daash."
In fact, the performance of the oil production and exports are still well so far and we expect that oil production up to 3.3 million barrels per day,
up from 3.1 million barrels per day in 2013, while exports remain at the levels recorded in 2013, which amounted to 2.5 million barrels a day.
Millionday: NOTE -- LETS JUST SAY LIKE ANY COUNTRY -- THEY ADJUSTED
Millionday: He he was given the combination of these factors, we expect the economic recovery in 2015 with GDP growth rate of more than 2 percent, driven by increased expansion in the oil sector,
where the ongoing conflict and weak oil prices remain constitute a burden on the economy.
Inflation remains low, even now at a rate of 0.9 percent at the end of last October, but the provinces affected by the conflict do not enter data derived from the consumer price index inflation figures as contained in the official reports.
Millionday: SO WE ARE NOT SEEING THE NEW PRICE INDEX WHICH IS NO SURPRISE -- BUT THEY (IMF) ARE ASKING FOR REFORMS
Dinar Dave: If iraq is asking to borrow more money from the IMF... Would you not think the IMF would say get your act together and start the reforms??
Millionday: THE IMF IS REPORTING TO HAVE MANY IN NEED SO THEY ARE ASKING FOR REFORMS BUT I BELIEVE THEY ALSO RESPONDED WITH LOANS BUT THE ISLAMIC BANKING UNION ETC HAS ALSO STATED THEY WILL HELP IRAQ
Millionday: THE IMF IS REPORTING ON THE NEWS THAT ECONOMICALLY THEY ARE HELPING MANY
Papatom: do you think the new price index is completed? wouldn't that affect all retail markets...stores...shops...etc.....right?
Millionday: YES IT WOULD AND I AM NOT SURE BUT AM GLAD TO SEE IT IN PRINT
Papatom: mee 2. thanks
Millionday: IT WOULD BE ALL THE NATION
Binnacle: The report stats "we expect the economic recovery in 2015 with GDP growth rate of more than 2 percent" how can they have Ec.Reform without monetary reform?
Millionday: THEY HAVE SEEN THE AGREEMENTS MADE FOR TRADE --- The International Monetary Fund (IMF) promotes international financial stability and monetary cooperation.
It also seeks to facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Millionday: Deputy Speaker of the House of Aram, Sheikh Mohammed said that "there is a consensus between the political blocs on the need to accelerate in approving the budget for fiscal year 2015."
It is scheduled that the House resumes its sessions on Wednesday after the Parliamentary recess in which to start the second reading of the budget law is likely.
Millionday: NOTE -- I SAID WED BUT MANY WERE SAYING ANOTHER DAY I SHOULD STICK TO WHAT I SEE -- WED
Millionday: He said Sheikh Mohammed said in a statement seen by (integrity) newspaper "expect approving the budget as soon as possible and this was confirmed by the three presidencies,
because we do not want to repeat the mistakes of the previous session of Parliament, the government and accelerate the achievement of consensus on the budget because it is affecting people's livelihood and security and we will work hard to achieve this agreement and consensus ".
Millionday: NOTE -- THEY ARE EXPECTED TO COMPLETE AT MEETING
Millionday: He pointed out that "the Council of Ministers reflects the representation of the majority of the Iraqi people and in the budget he sent in this way to the House of Representatives,
it reflects a kind of convergence and harmonization of this actress parliament blocs will contribute to the speed of approving the budget."
Millionday: NOTE -- I LOVE THE WORD SPEED
Millionday: I AGREE AND LOOK AT THIS -- IT ROCKS
Millionday: He pointed Sheikh Mohammed said that "the budget which Notes may be, but there consensus and some sort of agreement around and after approval,
we will begin a set of reforms agreed between the three presidencies of fiscal austerity and political reform orientation in accelerating the political agreements between the blocks and forces to coincide with the progress on the ground forces security on several fronts. "
Millionday: NOTE -- AFTER BUDGET -- REFORMS
Millionday: "There are indications that the signs of the best in the political and security situation, we have seen over the past few months, including the formation of the government and the designation of senior positions in the constitutional timings,
as well as the agreement on oil file and the balance between Baghdad and Erbil," he said, "will see the new year trend in the agreement, harmony and convergence of views in the administration of the country." .
Millionday: NOTE -- I SO MUCH AGREE
Millionday: NOTE -- THE BEST WE HAVE SEEN AS FAR AS HARMONY GOES
Millionday: The House of Representatives has completed at its special session, which was held in 25 of the last month, the first reading of the draft budget law and forwarded to the Finance Committee before being lifted into its seventh month.
Millionday: SEE AFTER 7 MONTHS -- SO MANY TRANSLATIONS
Millionday: NOTE -- NOW THIS IS HUGE
Millionday: Saudi Arabia will reopen its embassy in Iraq for the first time in 25 years. Saudi officials will travel to the Iraqi capital of Baghdad this week to begin preparations so they can start building “
at the earliest opportunity,” the Saudi Press Agency said Saturday. The move marks a major improvement in the once-rocky relations between the Arab neighbors, Reuters reported.
Saudi Arabia closed the doors of its Baghdad embassy in 1990, after Iraqi dictator Saddam Hussein invaded Kuwait.
Millionday: NOTE -- I WOULD GUESS THAT IRAQ IS NOT GOING TO STAY CONFINED MARKET WISE TO THEIR BORDERS
Millionday: Saudi Arabia has long accused Iraq of getting too cozy with Iran and supporting sectarian discrimination against Sunnis, according to Reuters.
On a roller coaster since the 1979 Iranian Revolution, tensions between Sunni Saudi Arabia and Shiite Iran have peaked and troughed.
The two countries are regional rivals competing for leadership of the Islamic world, according to the U.S.-based Council on Foreign Relations.
Millionday: NOTE -- NO COMMENT
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