Thurs. AM TNT News Articles 6-17-21



Two ways for the government to address the economic crisis and ensure that it does not recur

A member of the Parliamentary Finance Committee, Jamal Kougar, confirmed today, Thursday, that the government has only two ways to address the economic crisis and ensure that it does not recur in the future.

Cougar said in an interview with Alsumaria News, “The current government has gone through many crises and obstacles during its work period, and today it is going through an economic crisis and is unable to face its repercussions after its decision to change the dollar exchange rate,” noting that “the government has only two ways to address the crisis and ensure that it does not recur in the future.”

The first is the increase in the state’s resources. Unfortunately, we say that we were unable to transform from the previous situation as a rentier state to a multi-resource state, which makes us rely only on oil prices, and if they rise, there will be an economic recovery, and if they decrease, an economic crisis will occur

Cougar added, “The second issue is related to the existence of great waste in state budgets, and therefore the treatment is through combating corruption in a realistic and significant manner and transforming work into an electronic and institutional government so that resources and budgets are controlled,” noting that “the rise in oil prices at such levels or increased.

 More so, the government will be able to bridge the deficit, especially since the government has clearly stated that until the end of May, it was able to add five billion dollars to the bank reserve, and this means that the continuation of these prices will lead to exceeding the real deficit and we may have financial abundance   link

The dollar is declining and central bank sales are declining


{Economic: Al Furat News} The dollar exchange rates fell in Baghdad, today, Thursday.

The Baghdad Stock Exchange recorded 1486 dinars per dollar, or 148 thousand and 600 dinars per hundred dollars. 

In Erbil, the exchange rate reached 1490 dinars for sale and 1485 dinars for purchase. 

While the Central Bank of Iraq sold, in its foreign currency auction today, 211 million and 578 thousand and 732 dollars, which is less than yesterday’s sales, which exceeded 217 million. 

The total sale for the purposes of strengthening balances abroad (transfers, credits) was 197 million and 678 thousand and 732 dollars, while the cash sale was 13 million and 900 thousand dollars. 
Ammar Al Masoudi

The dollar is declining and central bank sales are declining

Source: Dinar Recaps



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