Millionday News 10/22/13
[millionday] ok here we go this is the plan for the move to a market economy as they are doing
[millionday] Economic expert cautioned that the economic and social realities in Iraq requires a larger role for the State limited to the public budget but stressed the need not to lose sight of the role of the private sector in this activity and called for the need to develop a modern economic fundamentals to ensure full investment of its resources, diversifying its sources and encouraging the private sector and development
[millionday] The Economist Dr. Emad Salem for "morning": article (112) Secondly the constitutional basis for the characterization of the economic system in Iraq as a market economy, pointing out that the article states that the Federal Government and the Governments of the region and provinces produced together with strategic policies to develop oil and gas wealth to bring the highest benefit for the people supported the latest techniques of market principles and encouraging investment.
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called to the need for economic reforms and setting priorities for the transition to a market economy, noting the importance of providing sound bases for the process through Complete the necessary legislation and put it into practice.
[millionday] as far as this is stating -- they need to launch all regulations and the reform at the same time for the move -- this we knew -- so as they are stating all needs be a go including the distribution of wealth and private and public sector --- very nice brb with more
[millionday] so this report is about the entire policy and the plan together with the budget - obviously economic compliance with the move forward for the country - it is very intense so i will comment through it and at the end talk about it as well
[millionday] View glaciology in economic need to draw a clear fiscal policy over the long term to achieve the goals set for the country's general budget and to take precautionary measures to reduce the impact of oil price fluctuations on the budget with the sole supplier at the same time stressing the importance of diversifying their productive sectors other than oil.
In this regard, said Economist Dr. Mohammad Saleh appearance: fiscal policy of Iraq is a good short-term policy and long-term passive lack diversification budget resources.
[millionday] note -- it is an issue when so much of the resources are expected to change when they have a five year plan in place and of course we mean oil
[millionday] to help ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;He said to (morning), the success of fiscal policy is to stabilize and diversify income and clarify its objectives in reducing unemployment or increasing the standard of living of citizens, pointing out that economic analysis of the budget is weak where the pursuit of the objectives of the budget according to the fiscal policy.
The budget keeps the roof of my spending is a deficit or reducing government expenditures that are most under budget expenses, stressing that the budget must be part of a five-year plan and not the other way round to prevent any erosion in the process of economic development.
[millionday] note -- of course the reality of private sector and also public sector production is much less than it will be so this as they have said will change
[millionday] The submersible, funds are financed from sources known, is one of the options to hedge fluctuations in oil prices and perpetuate the presence of money in this fund allotted ceiling where it helps in implementation of investment projects in the event of any sharp fluctuations in oil prices affect the investment budget.
[millionday] Iraq implemented the financial inability of the Masada drawing 20 percent or more in his balancings. to ensure that tax and spending policies reflect the average income in the long term see Adviser for the Iraqi Institute for economic reform, Dr. Ahmed Al-Husseini that the financial authorities should adopt specific rules to deal with fluctuations in the international prices of natural resource, and this boot to estimate revenue from natural resource exports would allow the financial authorities of the countries of the necessary amount of oil rents and revenues that can be used safely by The annual general budget.
[millionday] note -- as in reserves and other productions of oil as well ---
[millionday] i agree --
[millionday] He said to (morning) that Iraq adopted unilaterally installed dynamically estimating financial resources derived from the production and export of crude oil to a default rate of oil product and source of 90 dollars a barrel, but even under the boot price rules, maybe the natural resource-related revenue jump or fall to record lows following the occurrence of any great and sudden changes in the price of those natural resources and could lead to increases or decreases in the large public expenditure which is intrinsically Sensitivity to changes in the revenue side, particularly those relating to income from natural resource exports even though a preliminary price.
[millionday] note -- so they are saying that they should have provisions for the lower gains in oil -- (spending that does not occur) -- great idea that should be adopted by all countries including our own if you ask me
[millionday] Counsel explained that in this case the economy can find difficult to absorb these increases and/or reductions in public expenditure, and to control the volatility of more spending can be completed under the boot to put additional restrictions on spending growth from year to year.
[millionday] note -- true statement -- the prices increase as the years go in some areas and especially in global trade so they could use this as a tool as well
[millionday] He pointed out that Iraq is a great opportunity to benefit from the experiences and models of some States to get rid of the problem (a trick of fiscal policy), for example Mongolia using moving average metal prices range (16 years old) (rates of the past 12 years and the expected price for the current year and the next three years) and this technique or the formula weight of the previous price provide stability in revenue forecasting with the Allow merging of business price Outlook.
[millionday] And as Mexico adopts a preliminary base based on average oil prices over the previous 10 years (weight 25%), and oil futures prices in the short term (weight 50 percent multiplied by the factor of caution), and futures prices in the medium term (weight 25%), this specification responds to changes in the general price trends expected, either a caution (marginal sales revenue from natural resource) it makes a more conservative primary base and reduce the level of spending and act as a buffer Insulator for unforeseen effects resulting from the possibility of violent fluctuations of prices.
[millionday] note -- the fact that they are addressing how the plan can be adjusted as oil prices change and even addressing how the budget is going to work now that they are moving to market economy --- is very exciting
[millionday] this last part -- as an average price used and stuck to -- great idea
[millionday] He concluded by saying: the Iraqi financial policy can use one of two methods to avoid abrupt cuts in government spending or tax increases if any unexpected after the depletion of the natural resource (oil) and this is definitely better than the adoption of a precautionary rate of oil source and a so-called policy of not prosecuting the international prices of crude oil, and equal fiscal policy design in these conditions with government budgets to the depletion of natural resources and declining revenues.
[millionday] so this report is great because it is talking about action that they are going to use as they enter the globe and open their budget and launch their 5 year plan -- all good
[millionday] really all great -- whoop whoop ] brb with more
[lojak] yea baby
[Dovi] sounding good!
[millionday] i want us to look at this whole report so we will read it together and this one i will talk about at the end smile
[millionday] Experts forecast the possibility of activating productive sectors agricultural or industrial or service, founding the impression on the background of the recent improvements in the electrical energy by increasing the hours of processing in most counties and cities of Iraq for up to 24 hours a day.
As they give positive results reflect the effects on all segments of society and relieve their suffering and increase their capacity to give.
Beautiful name Economist Antoine said in a statement to (morning): the electric power improvement would be an incentive to boost the agricultural sector and many industrial projects which powered the resulting labour and reduce unemployment as well as it would ease the suffering of the citizens and the improvement of psychology and increase its capacity to give.
[millionday] Antoine said that availability will ease the burdens on citizens pay for generators, Hello Baghdad provincial Council's decision to reduce the price of electricity for amp alternators thus reducing the burden on the citizens.
The Baghdad provincial Council has set the price of amp to 3,000 dinars for generators and five thousand dinars for eligibility for the next two months, along with requiring generators post amounts paid by citizens over the past month and the coming months for not playing along with the improved processing power.
[millionday] i had said i wouldnt say anything but i have to say -- Thank God for those poor people
[millionday] The expert pointed out that many projects will be activated and the plants to provide the energy, as will all its energy, which reduces the cost of production with the possibility of competing goods and foreign goods,
noting that provided for the employee will contribute to increasing the speed of transactions, especially the many circuits where electrical power during working hours.
Antoine noted that next June will be the country almost self-sufficient in electric power, especially with so many new electrical power plants in several provinces and cities, including Basra, Mosul and other architecture are all ready for work and production and all you need is a supply of fuel,
as well as expansion in other stations in the private sector's contribution in this area by 3,000 megawatts and is in the process of signing contracts with the concerned authorities, the output current to power nearly 11,000 megawatts, not stop creation New plants, especially the old stations need rehabilitation.
[millionday] note -- and we also know this means the businesses will be rolling -- love it -- they are making some small amendments and will continue to as we talked about as they go
[millionday] Counting parliamentary Investment Law No. 13 of 2013 and its amendments Palmrn to its potential in facilitating investments , but did not reach the standard format to attract .
Said a member of the Economic Commission parliamentary deputy Abdul-Abbas Xiaa : The legislation window to ambitious investor in some joints . Pointing out that the amendment is expected to investment Law will be issued to contain loopholes that confuse reality venture .
He noted that the investment is a solution optimal for many of the economic problems suffered by the country, especially that many countries rely investments to activate economic sectors and have successful experiences can utilize them . ,
And pointed out that the foreign capital which employs for investment purposes are looking for the best environment and the destination to achieve the desired goals of this process brb with more