Zig’s Place Chatroom News Saturday PM 12-25-21
Zig’s Place Chatroom News Saturday PM 12-25-21
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butterfly Since the exchange rate change, the annual inflation in Iraq has risen 1,000 percent
2021-12-25 07:45 Since the exchange rate change the annual inflation in Iraq has risen 1000 percent Shafaq News/ The American “Global finance” magazine revealed that the annual inflation in Iraq rose to nearly 1000% in one year. And the magazine stated in its table of 191 countries that were included about the inflation rates in these countries, seen by Shafak News Agency, that “the annual inflation of Iraq for the month of October 2021 rose to 6.4% compared to the same month of last year 2020, which amounted to 0.6%, with an increase rate of 966.67%”.
She added that “inflation also rose from the same month of 2019, in which the annual inflation was 0.2%,” noting that “Iraq ranked fifth in the Arab world in terms of high inflation after Sudan, where annual inflation reached 194.6%, and Yemen 40.8 %, Libya 21.1%, Algeria 6.5%”, while the lowest Arab countries in terms of annual inflation were Bahrain, at 1%.”
Globally, Venezuela came first with the most annual inflation with a rate of 2,700%, followed by Sudan with 194.6%, then Zimbabwe with a rate of 92.5%, while the most declining country in its annual inflation was Samoa with a decrease of -3%, preceded by Comoros with a decrease of -1%.
The magazine’s report noted that “Afghanistan, Argentina, Lebanon, Somalia and Syria” are not included in the table because there are no statistics for these countries.
Continuing inflation may end up in stagflation where economic growth slows, unemployment remains high, inflation remains at high levels, and what is (much) worse, although very uncommon, is the specter of a hyperinflation scenario, in which prices grow unsustainably Control it which leads to a depreciation of the currency.
The American magazine concluded its report by saying that “reducing inflation does not mean that prices will return to what they were before, as it will stop growing at an accelerated pace.”
butterfly It is noteworthy that the annual inflation in Iraq rose significantly after raising the exchange rate of the dollar in the budget for the current year 2021, to equal every 100 dollars 145 thousand dinars, after it was 121 thousand. shafaq.com
butterfly Expectations of the Federal Court’s response to the case for the annulment of the election results
2021-12-25 02:04 Expectations of the Federal Courts response to the case for the annulment of the election resultsShafaq News/ The Iraqi law expert, Tariq Harb, expected today, Saturday, that the Federal Supreme Court will issue a decision dismissing the case to cancel the results of the early parliamentary elections filed by the leader of the Al-Fateh Alliance Hadi Al-Amiri.
Harb told Shafak News Agency, “We expect that the Federal Supreme Court will respond to the lawsuit filed to cancel the results of the early parliamentary elections, especially after the Federal Court responded last week, the lawsuit filed by the winning candidate in the Muthanna Governorate, Basem Khashan and some other parliamentarians, and demanding the return of the former parliament.” to work again.”
He added, “That is why we expect the Federal Supreme Court, in its session, which will be held on Monday, to issue a decision rejecting the other lawsuit filed by the leader of the Al-Fateh Alliance Hadi Al-Amiri, to cancel the results of the early parliamentary elections, nullify them and return them,” stressing that “this decision is binding and not subject to appeal, and it will move towards The court will then have to ratify the results announced by the commission.
The Federal Supreme Court of Iraq has set tomorrow, Sunday, January 26, as the date for the issuance of the decision by the Federal Court regarding the lawsuit filed by Al-Amiri demanding the annulment of the results of the early parliamentary elections, after listening to the last pleas and requests of the two fallen parties.
Al-Amiri gave his testimony in the Federal Court session held on Sunday morning, 22/12/2021, before the judges of the Federal Court, in which he reiterated his position against the election results. shafaq.com
butterfly An upcoming meeting between Al-Amiri and Al-Sadr to resolve the formation of the new Iraqi government
2021-12-25 07:24 An upcoming meeting between Al-Amiri and Al-Sadr to resolve the formation of the new Iraqi governmentShafaq News/ A source in the Al-Fateh Alliance, led by the Secretary-General of the “Badr” Organization, Hadi al-Amiri, revealed on Saturday that the latter will assume the task of negotiating with the Sadrist bloc on forming the new government, according to the division of tasks adopted by the coordination framework in its last meetings.
The source told Shafaq News Agency, “The leaders of the coordination framework divided the tasks of negotiating with the winning forces in the legislative elections that took place last October, on three axes. The first is led by the leader of the framework and head of the State of Law coalition, Nuri al-Maliki, and his task is to negotiate with the Kurdish forces for an agreement.” on a consensual formula that fulfills the demands or fulfills the desires of all parties and in the interest of the country in general.”
“The second axis is led by former Prime Minister Haider al-Abadi to negotiate and negotiate with all Sunni forces to reach future understandings and ensure their support for the framework’s directions,” he added.
He noted that “the leaders of the two axes referred to seem to have made remarkable progress in the negotiation rounds in the past few days.”
The source added, “As for the important and third axis, it is led by the leader of the Al-Fateh Alliance Hadi al-Amiri, and his tasks are focused on negotiating with the leader of the Sadrist movement, Muqtada al-Sadr and his leaders in the Sadrist bloc, and it is hoped that a meeting will be held soon between the two parties.”
butterfly He added, “So far, the location of the meeting has not been determined, and most likely it will be in Al-Hanana, Sadr’s residence, to agree on the smallest details related to forming the government in the event the latter decides to join the Shiite house and form a Shiite majority that will be the decision-maker in forming the next national consensus government.”
The source pointed out that “the coordinating framework strives to ensure that the Sadrist bloc joins the framework to form a unified Shiite alliance that agrees on a comprehensive national program.”
Former Prime Minister Nuri al-Maliki led a negotiating delegation to engage with the Kurdish forces in Erbil over the future of the political process and the general outlines of the features of the new government, followed by negotiations with the Sunni forces led by the leader of the State Forces Alliance, Haider al-Abadi.
On the tenth of last October, Iraq held early legislative elections to get out of a political crisis that swept the country after large demonstrations in the central and southern regions in 2019 in protest against the widespread unemployment in society, the spread of financial and administrative corruption in government departments and institutions, and the deteriorating reality The service and the livelihood, which prompted the former prime minister, Adel Abdul-Mahdi, to resign under popular pressure.
As soon as the preliminary results of the recent elections were announced, the voices of political forces and actors rose in their rejection of losing many seats, accusing them of major fraud in the ballot, which was denied by the executive and judicial authorities, at a time when the United Nations and international organizations praised the integrity of the electoral process. shafaq.com
butterfly An American Report: Inflation In Iraq Has Reached 1000% Due To The Rise In The Price Of The Dollar
Economic Last Update 12/25/2021 | 12:11 PM
American “Global finance” magazine revealed that the annual inflation in Iraq has risen to nearly 1000% in one year due to the current government’s decision to raise the exchange rate of the dollar.
The magazine stated, "Iraq's annual inflation for the month of October 2021 rose to 6.4% compared to the same month of last year 2020, which amounted to 0.6%, with an increase of 966.67%."
She added that "inflation also rose from the same month of 2019, in which the annual inflation was 0.2%," noting that "Iraq ranked fifth in the Arab world in terms of high inflation after Sudan, where annual inflation reached 194.6%, and Yemen 40.8 %, Libya 21.1%, Algeria 6.5%," while the lowest Arab countries in terms of annual inflation was Bahrain, at 1%.
Globally, Venezuela came first with the most annual inflation with a rate of 2,700%, followed by Sudan with 194.6%, then Zimbabwe with a rate of 92.5%, while the most declining country in its annual inflation was Samoa with a decrease of -3%, preceded by Comoros with a decrease of -1%. https://almaalomah.me/2021/12/25/572797/
butterfly Law: Al-Kazemi's Government Failed Miserably To Revive The Economic Situation
Economic Last Update 12/25/2021 | 9:22 AM
A member of the State of Law coalition, Duha Caesar, saw, on Saturday, that the economic decline that the country is going through is the result of government tampering, stressing that the government of the outgoing Prime Minister Mustafa Al-Kazemi failed to revive the economic situation.
Al-Qusayr said in a statement to "Al-Maalouma", that "Al-Kazemi's government failed miserably in reviving the economic situation," noting that "the rise in the dollar exchange rate made the Iraqis live through a difficult stage on the economic and social levels."
She added that "the next stage needs a strong government capable of bearing the burden of responsibility and saving the deteriorating economic and social situation," noting that "the current economic situation has become a burden on the poor."
A member of the Economy and Investment Committee in the dissolved parliament, Mazen Al-Faili, had confirmed in a previous statement that the decision to raise the exchange rate of the dollar had seriously harmed the poor. https://almaalomah.me/2021/12/25/572760/
butterfly The Minister of Finance makes a booby-trapped statement: Iraq may lay off all its employees
Pratha News Agency 2021-12-24
Finance Minister Ali Allawi launched an explosive statement regarding employees in Iraq.
Allawi said, according to Al-Mada newspaper, "After 10 years, oil will collapse forever, and Iraq may lay off its employees."
The Minister of Finance warned of a very high risk and threat level in the medium-term and within 10 years from now, due to Iraq's continued dependence on oil, which constitutes more than 90% of state revenues, pointing to the need to take harsh reforms from now on. https://burathanews.com/arabic/economic/404888
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