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War on Daash companies pay toward bankruptcy and the demobilization of their labor
08/22/2015
Cream slave family engaged in trade since 1960, have witnessed all kinds of commercial hardship during decades of work in this area, until a post-Saddam Iraq, where began their trade to recover somewhat, to be arrived case again an economic recession enemy, the worst since decades. Family owns plants for the manufacture of glass and aluminum, laid off a few days ago about 65% of its employees, closed six factories.
This economic case shows that Iraq is in a difficult situation, and the inability of clear public budget caused by low oil prices, as well as the high cost of the war on militants "Daash".
In the current war, the Iraqi government focused on the purchase of ammunition only to fight the extremists, Vtosrt conditions of companies and factories that were contracted with the government, especially as these companies rely exclusively on government contracts.
cream slave 65 years, taking a deep puff from his cigarette and then for a moment he said "staff manufacturers and workers do not work nothing but drink tea and read the newspapers. " In early 2014, he began suffering Iraq from the danger of economic downturn, especially after the government lost vast tracts of its territory after the dominance of militants "Daash" on them, and the worsening of the decline in oil prices, with the outbreak of the case of corruption in Iraq's budget, in which the oil revenues that are 95% .
last July, Iraq's oil revenues amounted to about $ 31 billion, according to figures from the Ministry of Oil, and this figure is less than $ 3 million from the Natural returns to Iraq in a month, let alone enjoy the northern region to sell oil independently in isolation from the central government.
budget Iraq approved was $ 102 billion, and a deficit of about $ 21 billion, as well as the government allocated $ 27 billion for the Department of Defense, and can that the ministry needs to be more money in light of its war against the extremist organization.
He says Haitham al-Jubouri, a deputy in the Iraqi parliament "The survival of the situation for what it is will lead to serious consequences unless there is a quick alternatives."
In the past, the Iraqi dinar per equivalent of three dollars, and the arrival of the dictator Saddam Hussein to power, which was adopted on Iraq's oil wealth to reap the money, the country's economy began to suffer in light of the economic sanctions imposed by the UN after the war in 1991. He became the Iraqi dinar it is very low, and each equivalent to 3,000 dinars and one dollars only. By the US-led invasion of the country in 2003, all 1.116 dinars became equivalent to one dollar, as the annual inflation rate was about 2%.
Like other companies, bonded company flourished after the overthrow of Saddam's regime, Vhzit contracts from the government and began financing and equipping the government what it wants in step to encourage domestic production, but sectarian violence in 2006 and 2007, adversely affected the economy, as well as the absence of electrical current that pay the owners of companies to rely on diesel generators to run the machines, and these generators also cost very expensive.
Today the government stopped spending on projects, such as construction and other investment contracts, and provided their funds for its army to fight the militants, "Daash", who took over both parts of Iraq.
He says slave, was government support for companies by 65%, but since the deterioration of the security situation and the fall of Mosul, austerity measures and low work rate began to zero in on companies.
plans Iraq now, to put up bonds worth 7 billion US dollars, 5 billion goes to government banks, and two billion to local banks to narrow the deficit situation, as well as the mobility of the government to get loans from the World Bank worth one billion and seven million dollars, and 833 million dollars from the International Monetary Fund, not to mention impose new taxes.
Sahab Awad, a businessman built a project for housing in Maysan province in southern Iraq, valued at about $ 33 million, the government still owes him about two and a half million dollars, as well as forced instead to give up another housing project in the city of Fallujah, after the dominance of militants "Daash" on them.
He adds Awad sigh, we sold our characteristics and our projects, and Sarhna about 90% of the staff and the debt still accumulated on us, was our big ambitions to develop the country, but unfortunately those who run it are not qualified and do not have a real vision, according to the source.
Despite billions of oil revenues and international aid to Iraq since 2003, Iraqis still suffer from public services shabby and a weak economy because of rampant corruption and financial mismanagement, the government and the appointment based on the parties and sectarian loyalties.
recently joined bonded to the side of thousands of Iraqis in Tahrir Square, protesters against the deterioration Services and mismanagement of the Iraqi economy and the low to dangerous levels, despite the reforms undertaken by the government, such as merging the Ministries of each other and spending cuts and the fight against corruption, concluding his speech by saying, "I am optimistic and we will continue to protest until they get a concrete reforms."
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08/22/2015
Cream slave family engaged in trade since 1960, have witnessed all kinds of commercial hardship during decades of work in this area, until a post-Saddam Iraq, where began their trade to recover somewhat, to be arrived case again an economic recession enemy, the worst since decades. Family owns plants for the manufacture of glass and aluminum, laid off a few days ago about 65% of its employees, closed six factories.
This economic case shows that Iraq is in a difficult situation, and the inability of clear public budget caused by low oil prices, as well as the high cost of the war on militants "Daash".
In the current war, the Iraqi government focused on the purchase of ammunition only to fight the extremists, Vtosrt conditions of companies and factories that were contracted with the government, especially as these companies rely exclusively on government contracts.
cream slave 65 years, taking a deep puff from his cigarette and then for a moment he said "staff manufacturers and workers do not work nothing but drink tea and read the newspapers. " In early 2014, he began suffering Iraq from the danger of economic downturn, especially after the government lost vast tracts of its territory after the dominance of militants "Daash" on them, and the worsening of the decline in oil prices, with the outbreak of the case of corruption in Iraq's budget, in which the oil revenues that are 95% .
last July, Iraq's oil revenues amounted to about $ 31 billion, according to figures from the Ministry of Oil, and this figure is less than $ 3 million from the Natural returns to Iraq in a month, let alone enjoy the northern region to sell oil independently in isolation from the central government.
budget Iraq approved was $ 102 billion, and a deficit of about $ 21 billion, as well as the government allocated $ 27 billion for the Department of Defense, and can that the ministry needs to be more money in light of its war against the extremist organization.
He says Haitham al-Jubouri, a deputy in the Iraqi parliament "The survival of the situation for what it is will lead to serious consequences unless there is a quick alternatives."
In the past, the Iraqi dinar per equivalent of three dollars, and the arrival of the dictator Saddam Hussein to power, which was adopted on Iraq's oil wealth to reap the money, the country's economy began to suffer in light of the economic sanctions imposed by the UN after the war in 1991. He became the Iraqi dinar it is very low, and each equivalent to 3,000 dinars and one dollars only. By the US-led invasion of the country in 2003, all 1.116 dinars became equivalent to one dollar, as the annual inflation rate was about 2%.
Like other companies, bonded company flourished after the overthrow of Saddam's regime, Vhzit contracts from the government and began financing and equipping the government what it wants in step to encourage domestic production, but sectarian violence in 2006 and 2007, adversely affected the economy, as well as the absence of electrical current that pay the owners of companies to rely on diesel generators to run the machines, and these generators also cost very expensive.
Today the government stopped spending on projects, such as construction and other investment contracts, and provided their funds for its army to fight the militants, "Daash", who took over both parts of Iraq.
He says slave, was government support for companies by 65%, but since the deterioration of the security situation and the fall of Mosul, austerity measures and low work rate began to zero in on companies.
plans Iraq now, to put up bonds worth 7 billion US dollars, 5 billion goes to government banks, and two billion to local banks to narrow the deficit situation, as well as the mobility of the government to get loans from the World Bank worth one billion and seven million dollars, and 833 million dollars from the International Monetary Fund, not to mention impose new taxes.
Sahab Awad, a businessman built a project for housing in Maysan province in southern Iraq, valued at about $ 33 million, the government still owes him about two and a half million dollars, as well as forced instead to give up another housing project in the city of Fallujah, after the dominance of militants "Daash" on them.
He adds Awad sigh, we sold our characteristics and our projects, and Sarhna about 90% of the staff and the debt still accumulated on us, was our big ambitions to develop the country, but unfortunately those who run it are not qualified and do not have a real vision, according to the source.
Despite billions of oil revenues and international aid to Iraq since 2003, Iraqis still suffer from public services shabby and a weak economy because of rampant corruption and financial mismanagement, the government and the appointment based on the parties and sectarian loyalties.
recently joined bonded to the side of thousands of Iraqis in Tahrir Square, protesters against the deterioration Services and mismanagement of the Iraqi economy and the low to dangerous levels, despite the reforms undertaken by the government, such as merging the Ministries of each other and spending cuts and the fight against corruption, concluding his speech by saying, "I am optimistic and we will continue to protest until they get a concrete reforms."
[You must be registered and logged in to see this link.]
