Iraqi News Sunday AM 8-29-21
Iraqi News Sunday AM 8-29-21
TLM724 Administrator BondLady’s Corner
Finance Minister: We Have Started Reform, And We Need Everyone's Concerted Efforts
Sunday 29 August 2021 175 Baghdad: Hussein Thaghb Finance Minister Ali Abdul-Amir Allawi stressed that the country's situation is described as sensitive and requires concerted efforts by all, in order to achieve serious reforms that distance the country from potential dangers, pointing out that cooperation is most intense with the Central Bank of Iraq with the aim of building a clear financial map.
Allawi said during a meeting with a group of journalists: The budget for the year 2022 will be completed within 3-4 weeks and presented to the Council of Ministers, expecting to submit it to the next parliament.
And it will depend on the price per barrel of oil, $50, and it will be based on the current production level. With regard to the exchange rate and the decision to devalue the national currency, Allawi stated that {the exchange rate represents the external face of the economy, and the high exchange rate brings benefit to many economic sectors}, indicating that {the price when it affects the economy negatively and encourages the transfer and transfer of resources. On the outside, it is necessary to reconsider and this is what happened.”
He said, "The decision to devalue the currency came in order to create a competitive economy that encourages the work environment in the country," noting that "during the past six months, we have indicated an increase in demand for investment licenses in the sector."
industrial.”
Allawi pointed out that {the increase in prices in local markets, and the percentage that exceeds the percentage of devaluation of the currency, came due to the increase witnessed in global markets, which coincided with the decision to reduce and the Corona pandemic, which had negative effects on the global economy as a whole.
He stressed, “We are moving towards offering treasury bonds for trading in the Iraqi Stock Exchange, and we expect a great turnout for them in the absence of ideal investment opportunities in the country,” noting that “Iraq’s revenues are large, but obligations are also wide, and there is an inflation in the number of employees that coincides with a lack of productivity employee.”
He said: {Reform of government performance and the economic system is inevitable, and far from it we cannot create an incubating environment for the economy}, pointing out that we have begun a real reform of government institutions, banks, customs and taxes, in order to manage Economy". LINK
Proposal To Digitally Reintroduce Small Denominations
Sunday 29 August 2021 382 Baghdad: Mustafa Al-Hashemi The expert in economic affairs, Dr. Hussein Al-Khaqani, suggested to the Central Bank to digitally reintroduce small denominations, which would provide sums for the public, after amending the digital banking system. Al-Khaqani said that {small cash denominations, which are less than 250 dinars, if they are collected and accumulated annually, the citizen will get good savings from them, instead of wasting them on buying goods that are not worth their real value.
The 250 dinars. He pointed out that {the records of government departments used to contain parts of the 250 dinars currency, but they were settled and made into the currently circulating cash denominations, as imposed by reality, transactions and the public's acceptance of them. LINK
The Central Bank Of Foreign Currency Sales Recorded More Than 223 Million Dollars
Economie| 01:58 - 29/08/2021 Baghdad - Mawazine News, the Central Bank of Iraq's sales of hard currency, on Sunday, amounted to more than 223 million dollars.
Today, the Central Bank’s auction of buying and selling foreign currencies witnessed a decrease in its sales by 6.3% to reach 223 million and 863 thousand and 165 dollars, compared to last Thursday, when the sales value amounted to 238 million and 930 thousand and 627 dollars.
The purchases amounting to 178 million and 613 thousand and 165 dollars went to enhance balances abroad in the form of remittances and credits, while the remaining amount of 45 million and 250 thousand dollars went in cash. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=165490
Relative Stability Of The Dollar Exchange Rates In The Local Markets
Economie| 10:18 - 29/08/2021 Baghdad - Mawazine News The dollar exchange rates witnessed, on Sunday, relative stability in the main stock exchange and local markets in the capital, Baghdad.
The exchange rate of the dollar against the dinar on the Central Kifah Stock Exchange in Baghdad, today, was 147,400 dinars for each $100 bill.
The prices of buying and selling the dollar also stabilized in exchange companies and local markets in Baghdad, where the selling price amounted to 148000 dinars, for each denomination of 100 dollars, while the purchase prices amounted to 147,000 dinars, for each paper denominations of 100 dollars. Ended 29/A 4 https://www.mawazin.net/Details.aspx?jimare=165458
This Is What The Iraqi Stock Exchange Traded Last Week?
Economie| 12:40 - 29/08/2021 Baghdad - Mawazine News The Iraqi Stock Exchange announced, on Sunday, the circulation of 7 billion shares, with a financial value of more than 6 billion dinars, during the past week.
The market said in a report seen by / Mawazine News /, that "the number of companies whose shares were traded during the past week amounted to 48 joint-stock companies, while the shares of 36 companies did not trade due to the lack of convergence of the prices of purchase orders with sales orders, while 19 companies continue to be suspended for not providing disclosure from Out of 103 companies listed on the market.
He added that "the number of traded shares amounted to 7 billion and 324 million and 925 thousand shares, an increase of 97%, compared to the previous session, with a financial value of 6 billion and 45 million and 449 thousand dinars, an increase of 3% compared to the previous session through the implementation of 2870 deals," noting that " The ISX60 traded price index closed at 596.92 points, recording an increase of 8.84% over its closing in the previous session.
He pointed out that "the number of shares purchased from non-Iraqi investors for the past week amounted to 810 million shares, with a financial value of 644 million dinars, through the implementation of 77 deals, while the number of shares sold from non-Iraqi investors reached 387 million shares, with a financial value of 692 million dinars through Execution of 232 transactions. https://www.mawazin.net/Details.aspx?jimare=165480
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