More Iraqi News Monday PM 1-11-21
More Iraqi News Monday PM 1-11-21
TLM724 Administrator BondLady’s Corner
Expert: The Government's Decision To Reduce The Value Of The Dinar Represents A Blow To The Economy And The Private Sector
16:14 - 11/01/2021 Information / Special ...The head of the Association of Exchange Companies in Iraq, Naseer Al-Mousawi, confirmed, Monday, that the government's decision to reduce the value of the dinar against the dollar represents a blow to the private sector and the economy.
Mousawi said in a statement to "the information", that "the government's sudden decision to reduce the value of the Iraqi dinar against the dollar represents a strong blow to the Iraqi economy and the private sector," pointing out that "the most effective and acceptable solution currently for the public and the government is to fix the exchange rate for the 2021 budget at a price of (1300)." Dinars for one dollar. ”
He added that "this price will be acceptable in the market and will not affect the life of the citizen, in addition to this pressure of public budget expenditures to the maximum limits to overcome the current crisis."
Today, Monday, the representative of the coalition of Iraqis, Hassan Khatti, confirmed that the exchange rate of the dollar against the Iraqi dinar will not remain constant, according to what was set in the 2021 budget. 25 T. https://www.almaalomah.com/2021/01/11/514824/
This Is The Reason For The Difference In The Exchange Rate Of The Dollar Against The Dinar
Economic specialist for / NINA /: Monday 11, January 2021 11:23 | Economical Views: 546 Baghdad / NINA / The specialist in economic affairs, Hussein Shaker Tahilo, attributed the difference in the exchange rates of the dollar against the dinar in the Iraqi market to the presence of a huge mass of dollars in the trading market and the lack of demand for the dollar.
In a statement to the Iraqi National News Agency ( NINA ) , Tuhilo said, "Each country has its own monetary system and its own currency. This currency performs its functions at home and is unable to perform these functions outside the state’s borders, and then the foreign exchange market interferes to enable these currencies."
From performing its function abroad through the settlement of international payments and bank transfers as well as bank credits and others. "
He added: "After the central bank approved the exchange rate of the dollar of 1460 dinars, this price confused the Iraqi market, and we find that there is a disparity in the exchange rate in the parallel market of 1440 and sometimes reached 1390 dinars. And all this disparity has helped the speculative operations in the market.
Parallelism and a very large increase in the profits of banking companies, due to the presence of a huge block of the dollar in the trading market and the lack of demand for the dollar. "
He pointed out: "The central bank's sales amounted to 200 million dollars per day, during the previous days, and we notice that in these days it has decreased dramatically and its sale reached 15.5 million dollars and in some days less than this amount, and this is an indication of weak capacity."
The purchasing power of the Iraqi citizen, this rise and disparity has also led to the disclosure that bank transfers are tainted by suspicion and bank credits by importers are mostly forged and through which hard currency is smuggled abroad. "
And he continued, "The only affected person remains the Iraqi citizen as a result of the wrong central bank policy and the government's failure to manage the country." https://ninanews.com/Website/News/Details?key=881248
Representative Economy: Raising The Exchange Rate Of The Dollar, Saving This Amount
Economie| 05:53 - 10/01/2021 Baghdad - Mawazine News The Parliamentary Economic Committee confirmed, today, Sunday, that raising the dollar exchange rate saved 12 trillion to fill part of the budget deficit, indicating that this step was taken because of the budget deficit, suggesting that the dollar exchange rate will not return to its old value.
Committee member Ali Saadoun said, "Because of the slowdown in the economic file, a step has been taken to raise the value of the dollar's exchange rate against the Iraqi dinar, to fill the deficit, which saved 12 trillion," suggesting that the dollar’s exchange rate will not return to its previous level.
He added, "The committee's meetings with Prime Minister Al-Kazemi continue, as it gave some solutions that could contribute to modifying the economic situation in Iraq."
He pointed out that "the economic file is difficult, so the government must take strict measures that contribute to modifying the economic situation, through the advancement of the agricultural and industrial sector." https://www.mawazin.net/Details.aspx?jimare=137423
After Baghdad, The Region Imposes Taxes That Include Employees
Time: 01/2021/11 10:43:54 Read: 2,808 times {Baghdad: Al Furat News} Today, Monday, the Kurdistan Regional Government announced a number of decisions regulating tax work in the region.
The following decisions came with the signature of Masrour Barzani, Prime Minister, "Withholding 20% of the tax from internet and communications companies, a direct deduction for income tax from private sector employees, provided that a mechanism is specified for that."
The measures included security and oil companies paying taxes, as well as setting up an appropriate mechanism to take a tax on private cars, in addition to restaurants and hotels above four-star ratings, in a similar measure from Baghdad.
The decisions included taking a "appropriate" tax on advertisements in the public and private sectors, and taking graphics in exchange for placing a "Lable" mark on cigarettes and alcoholic beverages.
And the Kurdistan Regional Government set a two-month period to regulate these taxes. LINK
The Rise Of The Dollar In Iraq
Time: 01/2021 10:49:05 Read: 14,365 times {Baghdad: Al Furat News} The exchange rate of the dollar rose in Iraq on Monday. The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad was 1432 dinars, or 143,200 dinars. Yesterday's price in Baghdad was 1430 dinars.
Currency exchange rates rose in exchange offices to 1442.5 dinars for sale and 1422.5 dinars for purchase. In Erbil governorate, the selling price of the dollar reached 1431 dinars, and in Basra Governorate, 1430 dinars. LINK
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