Iraqi News Monday Evening 11-1-21
Iraqi News Monday Evening 11-1-21
TLM724 Administrator BondLady’s Corner
The Central Bank Records 159 Million Dollars In Sales Today
Monday 01 November 2021 15:01 | Economic Number of readings: 165 Baghdad / NINA / - The Central Bank of Iraq's sales fell today, Monday, from the dollar, to record 159 million dollars.
A statement by the bank stated: that the Central Bank witnessed today, during its auction for buying and selling US dollars, a decrease in its sales by 7.02% to reach 159 million, and 275 thousand and 516 US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Sunday, which amounted to sales in which 170 million and 171 thousand and $ 263 US. "
the statement noted that" purchases of $ 122 million and 445 thousand and $ 516 went to promote stocks abroad in the form of remittances and credits, while gold remaining $ 36 million and 830 thousand dollars in cash. "
He continued : That 20 banks have fulfilled requests to enhance balances abroad, 14 banks to meet cash requests, in addition to 159 mediating companies./https://ninanews.com/Website/News/Details?key=936509
The government's financial advisor to / Nina /: a large stagnation of monetary inflation will hit the economy of Iraq / Expanded
Monday 01 November 2021 16:30 | Economic Number of readings: 149 Baghdad / NINA / - The government's financial advisor, Mazhar Muhammad Salih, warned against entering the Iraqi economy into a phase of hyperinflation as a result of the challenges facing the country's monetary policy.
Muhammad Salih said in a statement to the National Iraqi News Agency / NINA /: Monetary policy in Iraq during the years 2020-2021 faced challenges and opportunities that raised two main contradictions in achieving the goals of macroeconomic stability. It was preceded by a price deflation, “and the second: the return of oil prices to improvement within the cycle of oil assets, from an average annual price of $38 a barrel to an annual average of $70, upwards in 2021 compared to 2020.”
He pointed out that "the contradiction here is the rise in foreign reserves by 23%, with inflation creeping in, lest it approach 10%, with unemployment levels stabilizing slightly and slowly, at less than 23%, especially among the young labor force, to leave us with little economic growth that does not exceed (positive 1%) in the gross domestic product, which means that the country has moved to the stage of (inflationary stagnation), especially after decreasing the exchange rate of the Iraqi dinar at once less than a year ago, which was proportional to the decline in foreign reserves of the Central Bank of Iraq.
He added: If unemployment, inflation and growth continue with this highly contradictory trilogy, monetary policy may take an opposite intervention path with an effective stability policy in which it will undertake to combat inflationary expectations through the use of the nominal stabilizer for the exchange rate and towards improving the purchasing power of the Iraqi dinar and facing potentially positive transitional inflation due to inflationary activity The global demand for energy and its effects that are being stimulated by the transition of the global energy demand function with the opening of the global economy from its isolation gradually. / End 8 https://ninanews.com/Website/News/Details?Key=936525
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad "Economy News" publishes the exchange rates of the dollar against the Iraqi dinar in the local markets.
The selling price of the dollar is 148,250 per 100 dollars
The purchase price of the dollar is 147,250 per 100 dollars
Views 156 Date Added 01/11/2021 https://economy-news.net/content.php?id=26694
Planning Reveals The Features Of The 2022 Budget And The Groups Affected By The Delay In Its Approval
Economie| 01:06 - 01/11/2021 Baghdad - Mawazine News, today, Monday, the Ministry of Planning revealed the features of the upcoming 2022 budget, while specifying the categories whose salaries will be affected when the budget is delayed.
The Undersecretary of the Ministry, Maher Hammad, said, "The continuous salaries of employees are on the fixed owners and will not be affected in the event of delay in approving the next budget, or even not approving it, because the ratio of 1/12 will cover the amounts," noting that "the delay in approving the budget may affect the additional allocations in the end of the year for the purposes of bonuses or promotions, as well as new job grades.
He added, "The Financial Management Law stipulates that in the event that the budget is not approved, the current expenditures will be spent at a ratio of 1 to 12 of the previous budget. As for investment expenditures, they are dealt with according to the percentage of completion for each project separately, and this is called the draft budget allocation of the proposal," noting that " The price of oil was set in the next budget at $60 a barrel.
And he indicated that "the budget is currently in the mini-committee to formulate a preparatory framework for the government, but the current cabinet is not authorized to approve it, but it will be ready for the next cabinet after the formation of the new government in it," stressing that "the budget has positive points, including unifying customs fees and working on preparing an investment budget. For 3 years, not one year, to ensure the continuity of projects.
He continued, "The budget also included addressing the deficit that might occur if it is approved, by preparing a budget that is not dependent on a large amount of oil, because oil prices are usually variable." https://www.mawazin.net/Details.aspx?jimare=173260
Masrour Barzani And A High-Ranking US Delegation Discuss Supporting The Peshmerga And Enhancing US Investments In The Kurdistan Region
Posted On 2021-11-01 By Sotaliraq Today, Monday, November 1, 2021, Kurdistan Regional Government Prime Minister Masrour Barzani received a high-level delegation from the US Embassy in Iraq headed by Deputy Ambassador Gregory Legervo.
In the meeting, which was attended by the US Consul General in Erbil, Robert Palladino, they discussed the general situation in Iraq after the success of the parliamentary elections and ways to strengthen relations between the Kurdistan Region and the United States.
The two sides discussed the reforms undertaken by the Kurdistan Regional Government, the importance of continuing to support the Peshmerga, and confronting ISIS terrorists, in addition to discussing the promotion of US companies' investments in the Kurdistan Region. LINK
The Government's Financial Advisor To / Nina /: A Large Stagnation Of Monetary Inflation Will Hit The Economy Of Iraq / Expanded
Monday 01 November 2021 16:30 | Economic Number of readings: 149 Baghdad / NINA / - The government's financial advisor, Mazhar Muhammad Salih, warned against entering the Iraqi economy into a phase of hyperinflation as a result of the challenges facing the country's monetary policy.
Muhammad Salih said in a statement to the National Iraqi News Agency / NINA /: Monetary policy in Iraq during the years 2020-2021 faced challenges and opportunities that raised two main contradictions in achieving the goals of macroeconomic stability. It was preceded by a price deflation, “and the second: the return of oil prices to improvement within the cycle of oil assets, from an average annual price of $38 a barrel to an annual average of $70, upwards in 2021 compared to 2020.”
He pointed out that "the contradiction here is the rise in foreign reserves by 23%, with inflation creeping in, lest it approach 10%, with unemployment levels stabilizing slightly and slowly, at less than 23%, especially among the young labor force, to leave us with little economic growth that does not exceed (positive 1%) in the gross domestic product, which means that the country has moved to the stage of (inflationary stagnation), especially after decreasing the exchange rate of the Iraqi dinar at once less than a year ago, which was proportional to the decline in foreign reserves of the Central Bank of Iraq.
He added: If unemployment, inflation and growth continue with this highly contradictory trilogy, monetary policy may take an opposite intervention path with an effective stability policy in which it will undertake to combat inflationary expectations through the use of the nominal stabilizer for the exchange rate and towards improving the purchasing power of the Iraqi dinar and facing potentially positive transitional inflation due to inflationary activity The global demand for energy and its effects that are being stimulated by the transition of the global energy demand function with the opening of the global economy from its isolation gradually. / End 8 https://ninanews.com/Website/News/Details?Key=936525
Al-Ghazi: Allocating 7 And A Half Billion Dinars For The Industrial City In Dhi Qar
Money and business Economy News _ Baghdad The Secretary-General of the Council of Ministers, Hamid Al-Ghazi, announced today, Monday, the allocation of an amount of 7 and a half billion dinars for the industrial city in Dhi Qar.
Al-Ghazi said in a statement, received by "Al-Iqtisad News", that "a sum of 7 and a half billion dinars was allocated to the industrial city in Dhi Qar Governorate," noting that it was "the first city that was opened."
He explained that "the city will contribute to attracting job opportunities, employing the unemployed, and achieving industrial development within the province."
Number of views 128 Date added 01/11/2021 https://economy-news.net/content.php?id=26697
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