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Companies complain about the actions of the director of "Sumo" With the economy deteriorating
September 22 .2015
Baghdad
Economic indicators issued by the concerned authorities and specialists in Iraq, all of which indicate a single fact: the Iraqi economy on the verge of collapse.
Because the work of commercial and investment companies in Iraq is directly related to Iraq's economic situation, they complain about the likelihood of exposure to heavy losses after the expected collapse.
These companies also complain of the actions of some Iraqi officials who run the institutions are closely linked to the country's economy, including Director General of the Iraqi Oil Marketing Company (SOMO) Falah al-Amiri, who works on the block, including the work of companies contributing to the further deterioration of economic conditions.
Some may see the word "collapse" a profile is not without exaggeration to express the fact, however, that the language of numbers rise above all languages and clearly reveal all facts may be absent from the minds of many.
Perhaps another economic talk refers to the lean years that Iraq accept it, is the talk of the former Communications Minister Mohammed Tawfiq Allawi, who within it in a press statement touched on the exciting numbers to worry about.
Allawi draws in his statement to the seriousness of the Treasury, which deliberated the media news of his bond loan, a loan granted to Iraq from three international banks (Deutsche Bank, Citigroup and JP Morgan) by six billion dollars at an interest rate 10.37% per annum up to the year 2028.
He says that "the big risk in this loan he will go within the budget already suffering from a lack of clear to cover the operating budget, meaning that this amount will pay Kmaachat will go in vain without the payoff."
Allawi and explains that "The second risk is impossible to increase oil prices to previous levels, where the near impossibility to reach the price of oil to more than eighty dollars per barrel because of shale oil production in the foreseeable future, the big possibility is the descent of oil to $ thirty levels or even less during the year because of the increase coming Iranian production during 2016 ".
And he asserts that "those responsible for the economic file in Iraq are making decisions will make the country's economy is collapsing without taking deliberate steps to save the country from collapse."
According to Allawi, "the coming year will see a significant reduction in the cash reserve, and we will have to reduce the dinar or rather the collapse of the dinar .. Unfortunately there is no one listens to what arises from economic solutions."
Allawi and limp in his statement on the "theft of the Central Bank," which asserts that it is "still going on in full swing, the difference between the price offered in 1190 to the dollar and the selling price in 1223, ie 33 points .. meaning there are 2.8 cents per dollar."
It shows that "the Central Bank is now a month to sell $ 3.8 billion and more than half of this amount is sold in the markets." This is a "steal clear of the citizen, ie every year and this year will steal more than $ 600 million of the citizen."
He adds that "this category soaked in the euphoria of what achieved profits of tinkering and trying to borrow from the situation without thinking about their results and if I say (to the country goes to hell as long as we achieve these profits that do not dream of)."
Former minister and expresses its regret that "more dear citizens do not understand any of these figures do not understand the impact of these destructive policies, but they will suffer the suffering is unprecedented after a few years while sinking the country into debt and the benefits of the debt and the collapse of the dinar," expected to "come political class No matter how sincere you'll find themselves unable to save the country economically as well as security problems and the problem of Daash ".
And stresses the need to "bear the politicians Almtsdon today their responsibility before God and before the community to stop such destructive actions, and we must bear good reference responsibility to save the country and future generations what awaits them from the economic future frighteningly large and the destruction of the country and increase the doubling of the suffering of the citizens after a few years because of these policies wrong and ill-advised. "
Under such conditions, it contained messages from several companies to the media, including (Sumer News) complaining of the lack of serious government moves to meet these challenges, and appeals to the Prime Minister Haider al-Abadi take the news and reports published by the media seriously.
According to managers of companies talked to (Sumer News), does not take into account the director of "Sumo" Falah al-Amiri, as responsible for the pivotal company in the most important economic sector in the administration of Iraq, together with the restoration of the country's economy by giving opportunities to the private sector to contribute to the development of oil investments.
They stress that it is busy contract deals with Gulf businessmen check his personal profit at the expense of the public interest and at the expense of efficiency and competitiveness into account the conditions used in the referral of projects to companies.
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September 22 .2015
Baghdad
Economic indicators issued by the concerned authorities and specialists in Iraq, all of which indicate a single fact: the Iraqi economy on the verge of collapse.
Because the work of commercial and investment companies in Iraq is directly related to Iraq's economic situation, they complain about the likelihood of exposure to heavy losses after the expected collapse.
These companies also complain of the actions of some Iraqi officials who run the institutions are closely linked to the country's economy, including Director General of the Iraqi Oil Marketing Company (SOMO) Falah al-Amiri, who works on the block, including the work of companies contributing to the further deterioration of economic conditions.
Some may see the word "collapse" a profile is not without exaggeration to express the fact, however, that the language of numbers rise above all languages and clearly reveal all facts may be absent from the minds of many.
Perhaps another economic talk refers to the lean years that Iraq accept it, is the talk of the former Communications Minister Mohammed Tawfiq Allawi, who within it in a press statement touched on the exciting numbers to worry about.
Allawi draws in his statement to the seriousness of the Treasury, which deliberated the media news of his bond loan, a loan granted to Iraq from three international banks (Deutsche Bank, Citigroup and JP Morgan) by six billion dollars at an interest rate 10.37% per annum up to the year 2028.
He says that "the big risk in this loan he will go within the budget already suffering from a lack of clear to cover the operating budget, meaning that this amount will pay Kmaachat will go in vain without the payoff."
Allawi and explains that "The second risk is impossible to increase oil prices to previous levels, where the near impossibility to reach the price of oil to more than eighty dollars per barrel because of shale oil production in the foreseeable future, the big possibility is the descent of oil to $ thirty levels or even less during the year because of the increase coming Iranian production during 2016 ".
And he asserts that "those responsible for the economic file in Iraq are making decisions will make the country's economy is collapsing without taking deliberate steps to save the country from collapse."
According to Allawi, "the coming year will see a significant reduction in the cash reserve, and we will have to reduce the dinar or rather the collapse of the dinar .. Unfortunately there is no one listens to what arises from economic solutions."
Allawi and limp in his statement on the "theft of the Central Bank," which asserts that it is "still going on in full swing, the difference between the price offered in 1190 to the dollar and the selling price in 1223, ie 33 points .. meaning there are 2.8 cents per dollar."
It shows that "the Central Bank is now a month to sell $ 3.8 billion and more than half of this amount is sold in the markets." This is a "steal clear of the citizen, ie every year and this year will steal more than $ 600 million of the citizen."
He adds that "this category soaked in the euphoria of what achieved profits of tinkering and trying to borrow from the situation without thinking about their results and if I say (to the country goes to hell as long as we achieve these profits that do not dream of)."
Former minister and expresses its regret that "more dear citizens do not understand any of these figures do not understand the impact of these destructive policies, but they will suffer the suffering is unprecedented after a few years while sinking the country into debt and the benefits of the debt and the collapse of the dinar," expected to "come political class No matter how sincere you'll find themselves unable to save the country economically as well as security problems and the problem of Daash ".
And stresses the need to "bear the politicians Almtsdon today their responsibility before God and before the community to stop such destructive actions, and we must bear good reference responsibility to save the country and future generations what awaits them from the economic future frighteningly large and the destruction of the country and increase the doubling of the suffering of the citizens after a few years because of these policies wrong and ill-advised. "
Under such conditions, it contained messages from several companies to the media, including (Sumer News) complaining of the lack of serious government moves to meet these challenges, and appeals to the Prime Minister Haider al-Abadi take the news and reports published by the media seriously.
According to managers of companies talked to (Sumer News), does not take into account the director of "Sumo" Falah al-Amiri, as responsible for the pivotal company in the most important economic sector in the administration of Iraq, together with the restoration of the country's economy by giving opportunities to the private sector to contribute to the development of oil investments.
They stress that it is busy contract deals with Gulf businessmen check his personal profit at the expense of the public interest and at the expense of efficiency and competitiveness into account the conditions used in the referral of projects to companies.
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