Iraq Economic News and Points to Ponder Saturday Afternoon 1-18-25
An Economist Reveals The Secrets Of The Domestic Debt.. Will It Hit Banks And The Pension Fund?
Time: 2025/01/18 Read: 1,508 times {Economic: Al Furat News} Economic expert, Salah Nouri, revealed the most prominent reasons for the rise in the internal public debt in Iraq.
Nouri told {Euphrates News} that "relying on financing the budget deficit through domestic debt instead of external debt is the main reason for the increase in domestic debt," explaining that "this approach directly affects the cash liquidity of government banks and the State Employees' Retirement Fund."
He added that "domestic debt, which relies heavily on government banks and the pension fund, reduces the ability of banks to invest in the private sector by lending to development projects, which weakens their role in supporting the economy. This situation also weakens the pension fund's ability to fulfill its financial obligations."
According to the expert's statement, "domestic debt can be positive if directed towards supporting local agricultural and industrial production, as this contributes to reducing imports in foreign currency (dollars) and strengthening the national economy."
Regarding reducing inflation, Nouri stressed that "there are several tools that can be used, most notably controlling the stability of the dollar exchange rate and diversifying revenues away from total reliance on oil, which is characterized by volatility in global markets."
He also stressed "the importance of reducing public spending in the budget, especially unnecessary spending, to achieve sustainable economic stability." LINK
Salary Disbursement Outlet Owners Respond To Central Bank Governor’s Statements By Announcing A Strike
Saturday 18 January 2025 09:00 | Economic Number of readings: 349 Baghdad / NINA / The owners of salary disbursement outlets announced a general strike throughout Iraq, starting from the twentieth of this month, in response to the statements of the Governor of the Central Bank, Ali Al-Alaq, in which he indicated that the outlets do not have an official license or permit to work and take unofficial commissions. / https://ninanews.com/Website/News/Details?key=1180652
Dollar exchange rates fall in Baghdad, Erbil and Basra
Saturday 18 January 2025 11:00 | Economic Number of readings: 130
Baghdad / NINA / The dollar exchange rates witnessed a slight decrease today, Saturday, in the markets and exchange offices of the capital, Baghdad, Erbil and Basra.
The selling price of the dollar in Baghdad exchange offices was 151,750 dinars, and the purchase price was 150,000 dinars, for 100 dollars.
In Erbil, the selling price of the dollar was 151,750 dinars, and the purchase price was 150,000 dinars, for 100 dollars. / End https://ninanews.com/Website/News/Details?key=1180690
The Central Bank Of Iraq Denies The Intention To Close Cash Delivery Outlets
Banks The Central Bank of Iraq called for caution in transmitting and circulating news about the closure of exchange outlets, and confirms that no decision, directive or statement has been issued regarding the closure of outlets or their conversion into exchange companies.
The Central Bank said in a press statement that its recently issued statement stipulates expanding the spread of cash delivery outlets through all available channels, including ATMs, POC cash payment devices, as well as authorized exchange companies, electronic payment company outlets, and POS electronic payment devices spread throughout Iraq.
The bank stressed the need to transmit news from its official sources, which are published on its official website and its verified social media pages.
He stressed that the Central Bank's circulars issued to all parties in the Iraqi financial and banking sector included directing banks and non-banking financial institutions to expand their financial services in areas that lack the aforementioned services. https://economy-news.net/content.php?id=52055
Head Of The Security Media Cell: Iraq Is An Ideal Model For Tourism And Investment
Saray axis in old Baghdad Local Economy News – Baghdad The head of the Security Media Cell, Major General Saad Maan, confirmed on Saturday that Iraq has become an ideal model for tourism and investment, noting that choosing Baghdad as the capital of tourism is a clear message that the capital is safe.
"In conjunction with choosing Baghdad as the capital of tourism, we confirm that the situation in the capital Baghdad and Iraq is completely safe," Maan said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", indicating that "the factors of attraction for tourists are 100% available." He
added that "Iraq is an ideal model for tourism and investment," noting that "the government's communication with various segments and sectors is important to show the true image of the country."
He pointed out that "we attended today at the Syndicate of Journalists with the creators of purposeful content; to send messages of security and stability and to show the true positive reality of Iraq."
The Iraqi Journalists Syndicate launched, today, Saturday, the Association of Purposeful Content Creators in the Syndicate.
The official spokesman for the Journalists Syndicate, Mohammed Salam, said in a statement reported by the official news agency, and seen by "Al-Eqtisad News", that "the Syndicate today launched the Association of Purposeful Content Creators, and today it has become an integral part of the Syndicate and among the Syndicate's formations, and it will be the initiator of creating a real public opinion to defend Iraq and Iraqi society," noting that "this association is the adopter for the arrival of these celebrations or these Iraqi and national occasions to the world." https://economy-news.net/content.php?id=52069
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