Iraqi Dinar Investor Questions Answered... (2024)

Interview / Amar Menem and Zuhair Fatlawi-must include the private sector and self-pension system and make people save for retirement through

-International Monetary Fund expenses increase because the concern seriously in the sectors of salaries and pensions without accompanying economic growth.

-Four important laws waiting to Parliament this year, three of which related to management of oil wealth is distributed and the fourthNeighborhood with single-Abadi, Deputy Chairman of the Parliamentary Finance Committee

-Law of the salaries of state employees is not the fairness of allocations we have tried to reduce the salaries of the staff of the three presidencies and retired deputy, but the House refused to vote attic

-Most of the controls or instructions in loops do not benefit from extra state and the citizen and the system inherited from the Ottoman and BritishMP single

-Abadi, head of the Finance Committee representative said that the International Monetary Fund and the World Bank institutions that consultancies do not have custody in Iraq and give an assessment of the economic situation and the degree of risk to the global economy and large companies that want to work in Iraq, saying that the deficit in the national budget (PDP) by (11%) represents the standard failed because it should not be up to (7%) should therefore reduce the deficit and any increase in the salaries of employees and retirees must be accompanied by economic growth and said we need to resolutions of painful consideration to the interests of Iraq in general and need a new strategy to create jobs aspect of the investment budget in 2012 and proposed the positive aspects, to shed light on these themes in addition to the Law of the salaries of employees and retirees and the scores on the process and delete the zeros and other Altqtina Dr. Haider Abadi, and we had this dialogue with

-What are the powers of the Finance Committee in the House of Representatives?

The Commission has two Salahitan without reference to the House of Representatives the power transmitted from the first allocation to another and the second power and reduce the financial allocation in the case of our desire to increase the budget in general must be returned to the Council of Ministers.

-we received reports of objections from the International Monetary Fund to increase the salaries of the employees or increase the salaries of retirees?

International Monetary Fund and the World Bank institutions that consultancies do not have the guardianship of the Iraq and since it is advisory and provides an assessment of the economic situation and the degree of risk to the global economy, companies that wish to work in Iraq in the field of investment or the implementation of projects, if felt the World Bank that the Iraqi economy failed being a Srvyate on operating budget or salaries only, or any other channels, it will be reflected on Ray and evaluate the World Bank for the Iraqi economy and hence the reluctance of foreign companies working in Iraq, and therefore respond to the International Monetary Fund or World Bank as major evaluation of reliable global economy, corporations and Iraq could be overlooked Advisory Opinion of the International Monetary Fund, but is an uncertain venture, and they have Alan noted that the budget deficit high they give figures on the national budget (PDP), representing all the economic activities in the country, which must not exceed the (1.5) to (2%), but if exceeded this percentage (7%) is considered a failed state in Iraq is the deficit in the GDP of Iraq is (11%), and if they are not cutting costs to reduce the deficit, that is a problem and that loans the Paris Club, which totals $ 155 billion Khvzt proportion (80%) Iraq may have to pay about $ 30 billion in coming years, except for compensation of Kuwait, the Paris Club countries waived their debts on Iraq, provided that improve Iraq's economy, considering that Iraq was in debt because of the policies of the former regime and its policies to reverse the Libyan regime, despite adventures Gaddafi and waste of the wealth of Libya, it he left $ 160 billion after Ssagoth any that Libya is in debt now, but has the balance of Mali, while that Iraq did not have a balance was needed to pay off for many countries of the world, the IMF worry now, because expenses increase seriously, especially sectors of the salaries and retirement without that coincides with the growth of economic We now have government jobs and unproductive to increase the number of employees for the actual need, which also lead to obstruction of additional functional performance and increase disbursem*nts against jobs without productivity, and the World Bank objected to the salary increase productivity without

-Do you think that for the proportion of senior staff (80%) in salary despite the fact that his career does not exceed a few years in which social justice?

Of course not so we called to cancel the retirement of members of the House of Representatives and to be retired as deputy retired employee Celsius which gives the percentage of years in the light of the current service in addition to his earlier years he spent outside the House of Representatives, but some refused.-

There is a bumper financial revenue and poor distribution as there are differences in the salaries of employees who have the same qualifications in the different ministries?

We have a problem in the distribution of salaries to employees, of course, there is dissatisfaction from some lawmakers, myself included, on the salaries of special grades now we underestimated the difference to a large degree we we received this month salary in the light of the amendment last Each deputy is about 8 million dinars, and I imagine it will not rise once the last and the desire is the cancellation of retired special grades to become similar to the employee's salary and we are now reviewing the law of retirement to fill all the gaps that the lack of justice, but the size of the amounts allocated to the salaries of special grades is a very small year for the budget that is not to exceed the (50) million dollars a year out (100) billion dollars If we go back to the law of salaries I agree with you that it did not have justice and we are now reviewing the law of salaries in a detailed and not an easy task because the pay scale depends on our certificate and years of service with the omission of the productivity of the staff unlike the regulations adopted in developed countries that depend on the importance of the person and the role that doing and Aanzer to the certificate which they regard as a tool for self-development and which can not apply it to Iraq in the light of the existence of favoritism and its staff as well as to have the problem of salaries of the three presidencies have benefits higher than the others, and now some of the staff of the provincial councils are demanding Bashmulhm salaries of the three presidencies have been given a staff of the three presidencies of these provisions for dangerous they have suffered in 2004 because of exposure to the assassination, which led to the reluctance of staff to work in these presidencies, which led to the award of these funds to encourage them to work there and we are now if we are to starve them of these allocations after these years, says the staff we organized our lives on this salary and committed ourselves to loans and receivables and other can not do without them directly and the fact that staff in these presidencies backbone it has acquired the experience accumulated as a result of their work throughout these years, we can not alienate them, and there is a suggestion that you cut these allocations gradually but that the problem of staff in other departments are demanding either that we will submit them or give them to their peers have tried to reduce allocations to salaries (50%), but the project did not get enough to vote in the House of Representatives-

When do you expect to issue a uniform scale of salaries of staff to avoid a disparity between the ministries?

The difference is the provision of benefits, not the table because the salary nominal uniform in all ministries and government departments have been overcome the problem of housing is also a lot of Wazzrart of Education and the other with the exception of the oil ministry being given to them additional degree since 2004 and we see that the Council of Ministers to review each year if Ray said the oil sector needs to engineers dig you give them an annual allocation or if he believes that doctors Ayamlon in villages and rural areas are given these allocations for the purpose of attracting them and re-consideration of this provision and shall not be granted allowances for all staff, but in the light of actual need or the light of maturity, as we see to give the education sector more interesting, the problem is when we give benefits difficult to Nhjbha later, and that approximately 60% of the budget goes for the salaries and wages and we are trying to get into a uniform scale in the first half of 2012, but the task is not easy for there must be justice Standardization salaries at a time when we can not memorization of high salaries and can not raise salaries reduced because of the budget for the presence of currents of pressure on the state, as obtained by the staff of the House of Representatives when pressed on the House and therefore the refusal of Representatives vote on a resolution Khvz payroll staff the House of Representatives, and so on in the rest of the other sectors, either for retirement law must be to look at the pension system more fairly and that we return to the definition of retirement, which represents the maturity resulting from the total deductions from the salaries of the citizen or the employee and which must have been running the banks and the banks of the pension fund investment after placing the amounts equivalent to amounts of deductions and it may not have to give the state pension to the high score for only in the light of what has been previously deducted and running and it must be this Fund represents state employees and the private sector-

more clarification on the possible retirement of the private sector?

For employees who leave to work in government departments before the age pension and after transferred to the private sector continues withholding monthly for each profession to add these amounts to the balances of the employee or citizen and apply this procedure on the professions, such as small grocery store or stores buying and selling, and ultimately the man has a certain age to work and then becomes unable to work because if you have savings left to face an unknown fate?

Therefore, the state must develop regulations that make people save through retirement so that you can Nzmenh later either the citizens who are unable to work at all, it must enter under the door of the social welfare network, or the door of the disabled and widows to get the special care of this mechanism will reduce the pressure the State because of the growing demand for the appointment and also regulates the private sector and the private sector is often the product because it makes work easier and reduces unemployment either the government sector, it is not a productAnd at our direction to this mechanism will will reduce the burden on the budget and will be available the amount is paid to provide services to the citizen, and if continued political pressure in the direction of increased employment, which is often coincides with the date of the election will turn Iraq's failed state, and there is the other side to be dealt with is unemployment We are now between two fires first is the lack of employment for the Liberation of the budget and disbursem*nt of funds for services and the army of unemployed is growing daily and Antstia to call for the public to wait until a decade or more to the purpose of access to opportunity for appointment to the problem of social and psychological as possible harm the citizen and his conversion to the destructive power of the state so we need to resolutions of painful consideration to the interests of Iraq in general and Bjajh a new strategy for job creation aspect of the investment now in the current budget, which we wish to endorse the House of Representatives by the positive there is up to (18) trillion dinars projects payment on credit in addition to the investment budget of this section may repeated for three years, which is useful mechanisms are supported, including that referred to the projects implemented by the operating companies have a solid depth of the major works of art.-

the agricultural sector is very important and that the activation poultry farms only possible to provide 60 000 jobs, according to a statement in the source and the Ministry of Agriculture does not believe that a proportion of 2.6% of the budget is relatively small within the proposed budget?

Of course, 2.6% a little, but this percentage can not compare the education sector of around 10%, health 5%, because education and health sectors, all of the state, but the agriculture states do not Tmellk something where all of the private sector to that ratio is high and this figure does not represent the loans are spent on the private sector free of charge only for the success of the agricultural enterprise, and agreed with you that the livestock is wealth and there are projects, loans to veterinarians and agricultural sectors of these are active because it is not reasonable to high meat prices in Iraq compared to other states.-

There are objections from the Ministry of Youth and Sports to reduce their budget operational compared to last year despite an increase in the general budget by 30%?

Reduction was in the light of a mathematical equation is a wrong and the Ministry of Youth and Sports Ministry the task of representing the depth of building State and the Prime Minister say if I was not as prime minister worked in the Ministry of Youth and Sport or the Minister of Culture because it Zrart very important address large segments, and this reduction of the considerable disruption Iraq, because the sport is comparable European countries that are often Mathsal on their revenues through advertising and through the fans and others to that state must be assigned to the clubs while standing on their feet and we see that the sports sector and limited the Iraqi street and conquer terrorism.-

suggested that the Iraqi Central Bank to reduce some of the paragraphs support the ration card to support the reduction of interest on loans?-

In addition to that there is variation in the interest rate from one ministry to another?

There are housing loans backed by the state and there are housing loans raised by banks, Rafidain and Rasheed-oriented business out of these amounts to the citizens deposited Mdkhra prevail in these banks and the bank gives them the benefit of that should be on the bank to cover expenses and gives the serious and there is a project of cooperative societies which will serve as a loop, and an average relating to loans, housing, we have problems is also the short duration of the loans even if increased this period, he could the employee to pay these loans are for the ration they need to reconsider the radically have tried it in 2008 but the overall situation was not initializer because of fear of citizen interest has not there were an intention to cancel, but there was an intention to convert a choice between the ration or cash I imagine that the citizen is now adopted less than in 2008 it is subject to misappropriation of funds at a huge, and I imagine also that the state is not a successful trader and industrial successful state organized a successful or an observer successful We remember in 2006 we noted the arrival of food or dairy products Syrian or Saudi Arabia, to remote villages in Iraq, though it must be kept with bicycle certain temperature unlike the Ministry of Commerce that found it difficult to deliver the ration to dangerous areas or hot, in the case of state support for the employee and the provision of salary monthly in all cases, will not there be a motive to him unlike the private sector must be a state-supporting other sectors for example, the housing sector should not be is one of the commends the residential units but the organization of the distribution process and to facilitate the distribution of land to investors and increase the duration of loans and other activities through the provision of guarantees and other Thus the rest of the other sectors.-

There is a lack of confidence in the projects you want to state in its composition or its implementation because many of them remained on paper due to give companies the book assignment or surrender of land and other constraints?

Yes, we suffer from a problem called red tape and bureaucracy, and I had previously spoken with the Integrity Commission and the General Secretariat of the Council of Ministers because of disabling many of the laws and the routine of a large and most of the controls or instructions in loops excess does not benefit the state and the citizen and inherited from the Ottoman regime in which Berkratih a great addition to the system Bartani that contains Baiqratih also add to the Albaiqratih Almroth of the republican system and the Baathist regime and now we have a vast bureaucracy and became there fake jobs and distributed to the staff because of the increased Aaadahm vain became our series of routine accumulated and we imagine that corruption comes behind the obstruction and red tape and the state Iraq to get better accounting must involve disruptive and does not include the works and faulting, and we must be accountability in the following form to delay the referral hospital for six months for certain paper must bear Msúltha employee who disrupted treatment and brought to account for the number of patients who died during the period of obstruction must therefore be to be accountability on the block work for it outside the accounting and I know that one of the senior staff was thrown in jail because he promoted the treatment was said in his testimony that the lack of promotion there will be a waste of the largest on the state and we are now seeing some provinces accountable for the delay and we believe there must be regulation and the continued for the purpose of applying this procedure-

There is a debt prior to the State for the period before 2003 What is the attitude of the state?

There is a debt valid, there was negotiating with them through the bank (gp Morkn) and a British company offered to these companies clearing agreement with the Paris Club to receive the amount of 10.4% of the required amounts directly in cash are settled issue or wait and that many of them have this ratio and remained a small percentage did not agree with the proposal to be installment amount they budget for this year and subsequent years comfortably so as not to affect the budget.-

The process of deleting the zeros and the replacement of the currency you need a parliamentary resolution?

The process of deleting the zeros do not need a parliamentary resolution, but it needs to legislation to liquidate the benefits of debt and the other between the dinar, the old and the new dinar and the project in the process of discussion with the Central Bank of Iraq because the process of substitution two-year Tbdoua in 2013 must also adopt the budget in 2013 dinar new, and had I put forward this idea since 2006 and I was opposing it because the economic situation was not stable now, the process of deleting the zeros will be easier and closer to the citizen and will provide positives to facilitate dealing with numbers and calculations and trading exchange, which was a major problem of the citizen and the state both in addition to they facilitate the accreditation process for the Iraqi dinar instead of the dollar-

Oil and gas law you will be approved for this year?

I hope that is the adoption of four important laws this year, by 2013, because it's an election year, and these laws are very important because it is not clear so far and in contact with the lives of citizens and need to clear law in which a national consensus and these laws are the law of the points and gas law and the Iraqi Oil Ministry and the law of the national oil company Iraqi and these laws are important and essential in the management of Iraq's oil law and the fourth is the distribution of financial wealth to determine what is the wealth distributable, how much share of the provinces compared to the federal government, how much is allocated for strategic projects and how much is allocated for the province, in order to hold accountable the provincial councils and governors on their performance because they do not have the powers full allocations or who may be at the mercy of staff in the ministries of the center so you must define the powers of the provinces within the control of specific and if you do not recognize the laws of the blocks this year, the escape from its responsibilities

Iraqi Dinar Investor Questions Answered... (2024)
Top Articles
Latest Posts
Article information

Author: Arielle Torp

Last Updated:

Views: 5983

Rating: 4 / 5 (41 voted)

Reviews: 88% of readers found this page helpful

Author information

Name: Arielle Torp

Birthday: 1997-09-20

Address: 87313 Erdman Vista, North Dustinborough, WA 37563

Phone: +97216742823598

Job: Central Technology Officer

Hobby: Taekwondo, Macrame, Foreign language learning, Kite flying, Cooking, Skiing, Computer programming

Introduction: My name is Arielle Torp, I am a comfortable, kind, zealous, lovely, jolly, colorful, adventurous person who loves writing and wants to share my knowledge and understanding with you.