Iraqi News Tuesday Evening 10-5-21
Iraqi News Tuesday Evening 10-5-21
TLM724 Administrator BondLady’s Corner
Finance: The Change In The Dollar Exchange Rate Led To A Decrease In The Demand For Foreign Currency And Was Positively Reflected On The Decrease In Imports
Tuesday 05 October 2021 10:45 | EconomicNumber of readings: 391 Baghdad / NINA / - The Ministry of Finance confirmed that the devaluation of the currency against the dollar helped reduce the demand for foreign currency and positively affected the decrease in imports and the increase in local production.
And it said in a statement that it has constantly followed the indicators of devaluation against the dollar and over the past nine months, and the indicators show that the change in the exchange rate contributed to increasing the foreign reserves with the Central Bank of Iraq to “60” billion dollars in April 2021, after it was “54” billion dollars. In December 2020, this came after the implementation of the reform measures.
“The change in the exchange rate helped lower the demand for foreign currency and positively reflected on the decline in imports and the increase in domestic production,” the statement said.
He added that the indicators indicated Thassanoadh in commercial activity in the past nine months of the year 2021 in light of the crisis spread virus "COVID-19" has also helped to stop the Iraqi market shed and dumping of cheap goods that inhibit attempts to improve domestic production. "
The statement continued:" The ministry is working to reinvest the generated revenues with the aim of building a targeted production base outside the oil sector and relying on other sectors, which will contribute to a decrease in demand for the dollar as a result of compensating some of the goods produced, which made the proportion of imports to local consumption decline.
The statement indicated that "since the formation of the current government, the ministry has adopted plans and mechanisms to work on reforming Iraq's fiscal policy, and culminated in the adoption of the reform paper, the "white paper", which outlined future economic and financial policy steps to advance local production and reduce imports for the country.
This measure also contributed to improving the state of the general budget. Reducing imports and moving towards encouraging local products and providing job opportunities
https://ninanews.com/Website/News/Details?key=930896
Dollar Exchange Rates In Local Markets Today
Market Economy News _ Baghdad "Economy News" publishes the exchange rates of the dollar against the Iraqi dinar and foreign currencies in the Iraqi local markets on Tuesday.
The price of the dollar against the Iraqi dinar, the prices of the exchange offices:
the selling price of the dollar 148,500, the purchase price of the dollar 147,500
Views 236 Date added 05/10/2021 https://economy-news.net/content.php?id=26515
A Significant Decline In Central Bank Sales Of The Dollar
Economie| 02:53 - 05/10/2021 Baghdad - Mawazine News, the Central Bank of Iraq's sales of hard currency fell significantly, on Tuesday, to record $160 million.
And the Central Bank auction for buying and selling foreign currencies witnessed a decrease in its sales by 24.53% to reach 160 million, and 734 thousand US dollars covered by the bank at a base exchange rate of 1460 dinars per dollar.
The purchases amounting to 153 million and 614,000 dollars went to strengthening balances abroad in the form of remittances and credits, while the remaining amount of 7 million and 120 thousand dollars went in cash.
In addition, 29 banks responded to requests to enhance balances abroad, and 8 banks to meet cash requests, in addition to the participation of one exchange company, and 56 mediation companies. Ended 29/A 4
https://www.mawazin.net/Details.aspx?jimare=169949
The Ministry Of Finance Announces The Issuance Of Construction Bonds In The Financial Market
Economie| 04:00 - 05/10/2021 Baghdad - Mawazine News The Ministry of Finance announced, on Tuesday, the issuance of construction bonds in the financial market. https://www.mawazin.net/Details.aspx?jimare=169960
The Cabinet Issues Several Decisions
Political | 08:09 - 05/10/2021 Baghdad - Mawazine News, Prime Minister Mustafa Al-Kazemi chaired, on Tuesday, the thirty-eighth regular session of the Council of Ministers, during which the latest developments in the country were discussed, in addition to the topics on the agenda, and decisions and recommendations were issued regarding them.
At the beginning of the session, the Prime Minister referred to his visit yesterday to the Electoral Commission, and his briefing on the implementation of the fifth simulation, and stressed that it was the first time that this number of simulations had been conducted, describing it as a successful experience.
He referred to the government's great efforts and endeavors; Because the elections are an opportunity for fair and fair competition.
He affirmed the provision of all requirements for the commission and the joint operations command, to carry out their required tasks, in conducting sound and fair elections, as well as taking security measures; To prevent any case of interference and fraud.
Al-Kazemi renewed his call to all Iraqis; For wide participation in the elections, His Excellency praised the position of the Supreme Marja’iya, and all national and international parties that called on voters to actively participate, indicating that there is no choice for building a stable and prosperous Iraq but the ballot boxes.
He called on all political parties to abide by professional competition in accordance with the laws in force, and stressed to stand firm in the face of any attempt to influence the votes of the electorate.
At the conclusion of his speech, Al-Kazemi directed the ministers to continue working at the same pace, and for the last day of the government’s life; In order to ensure the provision of services to citizens.
During the session, the epidemiological report of the Corona pandemic was reviewed, and the developments in the work of the Committee to Strengthen Government Actions in the Fields of Prevention, and Health Awareness Control; To limit the spread of the virus, and the efforts of the Ministry of Health to confront the pandemic, and to provide vaccines through vaccination outlets.
After discussing the topics on the agenda, the Council of Ministers issued the following decisions:
First, the Ministry of Finance disbursed (3) billion dinars to the Ministry of Health from emergency reserve allocations for the fiscal year/2021, as treatment costs; For the treatment of a number of demonstrators wounded in the German Hospital (Vivants), with the exception of the controls and instructions in force, the recruitment program, and medical evacuation.
Second / Approval of an increase in the capital of the Iraqi Housing Fund by an amount of (1,000,000,000,000) dinars, only one trillion dinars, so that the total capital will be (2,000,000,000,000) dinars, only two trillion dinars, to be paid by the Ministry of Finance, according to what was stated in the decision of the Board of Trustees of the Housing Fund, based on To the provisions of Article 1/Second, of the Iraqi Housing Fund Law (32 of 2011).
Third / Approval of the recommendation of the Ministerial Council for Energy (137 for the year 2021).
Fourthly/ Approval of the National Oil Company to enter as a financing partner with the company (Total) in its giant project in Basra.
Supporting the National Oil Company to carry out commercial activity; To maximize revenues and financial returns to the general budget.
- Approval of a set of decisions aimed at maximizing oil and gas production capabilities, by the National Oil Company in the southern fields.
Fifth / Excluding the Taza water project in Kirkuk governorate from the procedures set forth in the Cabinet Resolution (259 of 2021), regarding direct invitations to companies of the Ministry of Construction, Housing, Municipalities and Public Works; For the reasons proven in the letter of the Ministry of Construction, Housing, Municipalities and Public Works No. (m.kh/679) dated September 29, 2021. Ended 29 / h https://www.mawazin.net/Details.aspx?jimare=170005
To read more current and reliable Iraqi news please visit BondLady’s Corner: