"Tidbits From TNT" Thursday Morning 3-3-2022

TNT:

Tishwash:  Iraq: Financial abundance from raising the price of the dollar or from the difference in oil prices?

Economists: The financial abundance referred to by the Minister of Finance was not achieved by raising the price of the dollar, but rather it may be from the difference in oil prices

Specialists in economic affairs saw that the Minister of Finance’s talk about achieving financial abundance from raising the exchange rates of the dollar was laughing at the beards, pointing out that this money, although it was actually achieved, came from the difference in selling prices of oil.

The repercussions of the decision to raise the price of the dollar are crowded, especially after the statements of the Minister of Finance that the matter saved an amount of twenty-two trillion dinars, which economists see as laughing on their beards, as the financial liquidity referred to by the minister, even if it was actually achieved, may have happened as a result of the rise in oil prices.

Others wonder if the Iraqi economy depends only on changing exchange rates between rise and fall, then this is a failure of economic policy, as they stress the need to activate many sectors to support the state budget and its financial revenues

In the midst of all this, the citizen is waiting for nothing but a breakthrough that will facilitate his life, burdened with the repercussions of the economic crises, which narrow his life and deprive him of the necessities of a decent life.   link

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Tishwash:  Iraq: Financial abundance from raising the price of the dollar or from the difference in oil prices?

Economists: The financial abundance referred to by the Minister of Finance was not achieved by raising the price of the dollar, but rather it may be from the difference in oil prices

Specialists in economic affairs saw that the Minister of Finance’s talk about achieving financial abundance from raising the exchange rates of the dollar was laughing at the beards, pointing out that this money, although it was actually achieved, came from the difference in selling prices of oil.

The repercussions of the decision to raise the price of the dollar are crowded, especially after the statements of the Minister of Finance that the matter saved an amount of twenty-two trillion dinars, which economists see as laughing on their beards, as the financial liquidity referred to by the minister, even if it was actually achieved, may have happened as a result of the rise in oil prices.

Others wonder if the Iraqi economy depends only on changing exchange rates between rise and fall, then this is a failure of economic policy, as they stress the need to activate many sectors to support the state budget and its financial revenues

In the midst of all this, the citizen is waiting for nothing but a breakthrough that will facilitate his life, burdened with the repercussions of the economic crises, which narrow his life and deprive him of the necessities of a decent life.  link

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Tishwash:  Between the exchange rate and promises of reforms.. the fragile classes struggle with the high prices of the markets

The exchange rate of the dollar against the dinar is still standing against all attempts to reduce it by some political forces, amid the insistence and clear adherence of the Ministry of Finance and the Central Bank to the decision to maintain the price in exchange for reforms that the government will pursue in the coming period to reduce the damage caused to the fragile classes as a result of the rise The exchange rate, with assurances that there will be no point in any reforms as long as they are not accompanied by a reform process to combat corruption and end currency smuggling.

At a time when a parliamentarian stressed the importance of activating the automation system to combat corruption and currency smuggling, blaming the Minister of Finance and the Governor of the Central Bank for the reluctance to implement it, another pointed out that any sudden devaluation of the dollar against the dinar would have a similar damage to what happened at the time of its previous lifting, stressing the importance of Finding real remedies to reduce the damage to the poor classes and focus on supporting the ration card, social welfare and the lower classes of employees, while an economist stressed that all the justifications of the government and the Minister of Finance are of no value and she is well aware that her words are a distortion of facts and their goals do not serve the poor citizen.

Independent Representative Hadi Al SalamiHe stressed that the failure to activate the automation system caused the continuation of corruption, waste of public money and currency smuggling, stressing that the Minister of Finance and the Governor of the Central Bank bear full responsibility for this situation.

Al-Salami said in an interview with Alsumaria News, "Activating the automation system will be of utmost benefit in ending corruption and wasting public money and ending cases of manipulation of people's wealth, given that this step will lead to linking information technology and the tax and customs system withCentral Bank of IraqHe indicated that "these measures will lead to an end to the currency smuggling process and the inventory of tax issues and customs accounting, thus ending the issue of forged invoices used in the smuggling of hard currency abroad."

Al-Salami added, "These mechanisms, despite their importance in supporting the financial and monetary policy in the country, but the Minister of Finance and the Governor of the Central Bank did not abide by them and were not applied despite their inclusion in the enforceable laws, which caused the waste of public money and the continuation of corruption and currency smuggling."
He continued, "In order to defend the interests of the Iraqi people, who are considered the only victims of these wrong policies, we have submitted a complaint to the Attorney General, the Minister of Finance and the Governor of the Central Bank, due to the waste of public money and corruption."

Economic MonitorHamid Al-YasiriHe stressed that food prices have become unbearable and burden the simple citizen in a way that he is not able to face them, pointing out that the price of edible oil has reached prices equal to four times what it was last year, not to mention the high prices of sugar and edible oil in a reality that threatens The living situation of the simple citizen. For his part, the deputy confirmed

Al-Yasiri said in an interview with Alsumaria News, “The government should look at the situation of the simple citizen and bring those responsible for their ivory tower to the street and watch the systematic starvation of the poor classes by doubling food prices very dramatically,” stressing that “promises of reforms The citizen will not believe in it, and the only solution is to reduce the price of the dollar against the dinar, because if any reforms take place, they will benefit only certain segments and not all the Iraqi people, and it is not true that another class and starvation of the people are taken into account.

He added that "

He called for "the government and the finance minister to be with the Iraqi people and not against them, because all their justifications will not make the hungry citizen sleep at night comfortably." In an interview with Alsumaria News, Anouz said, "It is not possible to talk about a sudden devaluation of the dollar against the dinar, because it may lead to confusion, as happened when it was raised after information leaked before the decision to lift it was issued. Therefore, the reduction process in this situation will benefit the capital, especially the banks." Al-Ahly because it owns the dollar.”

Mohamed Anouz, that any sudden devaluation of the dollar against the dinar at the present time is something that cannot be talked about because it may lead to confusion in a similar way to what happened when it was raised more than a year ago, noting that the treatment for the repercussions of raising the price is by addressing all the obstacles that negatively affect the classes fragile.

He went on to say, "The trend that took place in the last parliament session after the Finance Minister presented his vision during hosting was through addressing the repercussions of raising the exchange rate."

And Anouz added, "The treatment is through addressing all the obstacles that negatively affect the fragile classes and working to support the ration card, social protection and minimum salaries for job grades, which reduces the repercussions of raising the price, in addition to coordination between all the ministries concerned with the file of price protection and importing goods to ensure that there is no raising Prices are exploited by greedy traders and market speculators.

He pointed out, "In the event that the government allocates sufficient funds to address the situation through direct and indirect support and obtain the necessary funds that the government needs, especially through customs, taxes and fees collected on Eid from state institutions in order to support the government's capabilities financially and provide assistance to the fragile classes, especially that the level of Poverty is high and the purchasing power of many citizens is weak for various reasons.

He stressed that "raising the dollar's price was with political approval and within convictions based on concrete conditions at the time regarding the issue of providing employee salaries while providing support to the fragile classes for you. In order to address the failure situation and reduce the burdens of citizens." link

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