More Iraqi News Wednesday PM 1-13-21
More Iraqi News Wednesday PM 1-13-21
TLM724 Administrator BondLady’s Corner
Finance Minister Announces A Package Of Measures To Mitigate The Effects Of Raising The Dollar
Time: 01/13/2021 15:38:05 Read: 2,041 times {Baghdad: Al Furat News} The Minister of Finance, Ali Allawi, revealed the ministry's intention to take measures to mitigate the repercussions of the decision to raise the dollar exchange rate against the dinar.
This came during his meeting with the head of the State of Law coalition, Nouri al-Maliki, today, Wednesday.
During the meeting, Allawi reviewed the procedures followed by the ministry in dealing with the economic and financial conditions, stressing that "the ministry, within two weeks, will take a package of measures that mitigate the effects of devaluation." He called for "concerted efforts to overcome the current stage and its repercussions on public life.
" to support Iraq to face the current financial crisis, plans and actions required to overcome, and the importance of uniting efforts and solidarity among all to reduce the deficit in the general budget in order to achieve social justice. "the al - Maliki"
The head of the State of Law coalition renewed his call to the government not to neglect the rights of peasants and farmers and to delay the payment of their dues. LINK
Finance Minister: We Will Take A Package Of Measures To Mitigate The Effects Of Devaluation Within Two Weeks
Editing date: 01/13/2021 15:55 • 61 read times [Baghdad-Where] Finance Minister Ali Abdul Amir Allawi announced, on Wednesday, his intention to take a package of measures that mitigate the effects of devaluation within two weeks.
A statement by the Office of the President of the State of Law Coalition, Nouri al-Maliki, stated that "the latter received Allawi, today, and the meeting dealt with the necessary means to support Iraq to face the current financial crisis and the plans and measures required to overcome it, and the importance of uniting efforts and solidarity among all to reduce the deficit in the public budget in order to achieve social justice."
Al-Maliki stressed, according to the statement, "the need to conduct appropriate reforms that contribute to rationalizing spending and preserving public money, stressing that" economic treatments to get out of the current situation should not affect the layers of limited income, employees and retirees and their pension obligations.
"The President of the State of Law coalition renewed his call to the government. To "not neglecting the rights of peasants and farmers and delaying the payment of their dues."
In turn, the Minister of Finance reviewed the procedures that the ministry follows in dealing with the economic and financial conditions.
Allawi stressed, according to the statement, that "the ministry will take a package of measures within two weeks to mitigate the effects of devaluation," calling for "concerted efforts to overcome the current stage and its repercussions on public life." http://www.alliraqnews.com/modules/news/article.php?storyid=106016
Continuous Rise Of The Dollar In Iraq
Time: 01/2021/13 11:16:02 Read: 9,100 times {Baghdad: Al Furat News} The exchange rate of the dollar continued to rise in Iraq today, Wednesday. The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad was 1439 dinars, or 143,900 dinars. Yesterday's price in Baghdad was 1435 dinars.
Currency exchange rates in exchange offices rose to 1,445 dinars for sale and 1,430 dinars for purchase. In Erbil governorate, the dollar exchange rate rose to 1436.5 dinars, which is the same price in Basra Governorate. LINK
Today ... The Central Bank's Hard Currency Sales Are At A Significant Decline
Economie| 12:11 - 01/13/2021 BAGHDAD - Mawazine News The Central Bank of Iraq sales of hard currency recorded, on Wednesday, a significant decline by 76.09 percent.
According to the daily bulletin of the foreign currency auction in the Central Bank, "the auction of buying and selling foreign currencies has registered a significant decrease in its sales by 76.09 percent to reach 3 million and 250 thousand dollars."
She added, "The Central Bank covered those sales at a base exchange rate of 1460 dinars per dollar."
She indicated that "all sales went to strengthen the assets abroad in the form of transfers and credits, while no hard currency cash purchase took place today." The central bank’s dollar sales amounted to 13,596,000 dollars on Tuesday. Ended 29 / p4 https://www.mawazin.net/Details.aspx?jimare=137745
Parliamentary Warns Of Passing The Budget
Political| 12:26 - 01/13/2021 BAGHDAD - Mawazine News MP Alia Nassif warned, on Wednesday, against passing the financial budget in its current form that strikes the citizen in his livelihood, in addition to the constitutional and legal violations it contains, according to her saying.
Nassif said in a statement that Mawazine News received a copy of, that Article 20, paragraph 4, of the budget related to deductions from the salaries of civilian and military retirees is a legal and constitutional violation, and the salaries of this segment are a trust that is recorded as an acquired right in the retirement fund, and therefore this acquired right is not permissible.
Deduction of it, and this article violates Article 28, Paragraph Two of the Constitution, meaning that the Budget Law is a temporary annual law, so modifications cannot be made to the salaries of retirees and any other salaries, and the original laws on which these salaries are based cannot be overridden by relying on the budget law.
She indicated that Article 28 of the budget stipulates that the governor or minister is empowered to impose taxes on services for which the citizen will pay, as if this budget was prepared to burden the citizen only, and on the other hand the budget includes giving ministers authority to sell the assets of the Iraqi state, and this is a dangerous precedent, being for the first time A state sells its assets, so instead of investing assets such as agricultural lands, they are sold, as if the state is now moving in two directions, the direction of rentier and the direction of selling the state's assets.
Nassif added that the budget from beginning to end includes loans identified by specific companies, although the report of the 62nd Committee and the Fiscal Deficit Law confirm that it is not permissible to mention company names in the budget. The budget specifies accounts and not company names, while the 2021 budget is full of company names as if competition is prevented. Honest companies among the companies and the absence of transparency that could save money for the Iraqi state.
She added that when all countries of the world raise the price of the dollar and impose a tax, they must use a strategy to protect the citizen, as the state must precede the Central Bank and the Ministry of Finance in developing a strategy to protect the citizen, whether he is an employee or a gainer, not leaving him without protection for his living situation.
Nassif demanded the addition of the text of the deficit law that was voted on in the House of Representatives regarding the relationship between the region and the center, to be approved in the budget, as the regional government does not have the right to enter into an agreement regarding the region’s oil, and in short, they must hand over the entire oil product and non-oil revenues according to what came in The text of the law on financing the fiscal deficit, just as it cannot give legitimacy to Kirkuk oil to be part of the agreement.
Nassif added that the debts of the region’s oil extraction costs are many times higher than what was allocated to the ration card for the citizen, which amounts to fifteen dollars and is equal to only 22 thousand dinars. Meaningless service, which costs two trillion and 881 billion dinars, commodity supplies and maintenance of assets and special programs, totaling more than 21 trillion dinars, and this paragraph alone is equivalent to the budget of a state, while this budget is supposed to be austere and reformist. https://www.mawazin.net/Details.aspx?jimare=137748
Economist: High Oil Prices Forced The Government To Backtrack On Its Decisions Regarding The Dollar
08:32 - 01/13/2021 Information / private Economic expert Ihssan Al-Kinani stressed the need to lift the blockade imposed on the Iraqi people because of the government's measures to raise the exchange rate of the dollar against the dinar, pointing out that oil prices have returned to recovery and have achieved positive returns for the government, which is what makes it imperative for the government to reduce the exchange rate.
"The poverty rate in Iraq has risen to more than 40 percent, a number that raises suspicion, as this leads to an increase in the rate of crime, theft, terrorism and other acts that push the weak in search of any way to obtain money," Al-Kinani said to "the information ".
He added that "the government bears responsibility for its decisions about reducing the value of the dinar against the dollar, and increasing the poverty rate and its consequences for the Iraqi people, as the coming years will witness an increase in this percentage and Iraq may not be able to overcome its financial crisis."
And that "the government has made great profits in light of the rise in oil prices to more than $ 52 a barrel, whose value in dinars increased by 23 percent from last year, which calls on the government to lift the blockade it imposed on the people and restore the exchange rate to less than it is today." https://www.almaalomah.com/2021/01/13/515063/
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