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KTFA
Samson » August 16th, 2021
Parliamentary Finance: The exchange rate will remain the same for the next five years
15th August, 2021
Today, Sunday, the Parliamentary Finance Committee determined that the exchange rate will remain at its current status, while indicating that raising the exchange rate aims to achieve three main factors.
The next period for the next five years is based on a description that the real value of the Iraqi dinar is determined by the exchange of the dollar against the dinar in addition to the purchasing power of the Iraqi dinar and the net goods and services produced during a certain period.
He continued, “The government is firm in achieving its goal by defining three main goals: the first is financial, which is to reduce the deficit in the public budget, the second goal is a monetary goal by increasing reserves, and the third goal is to increase the competitiveness currently produced within the country towards other goods exported from neighboring countries, and this the main goal that the government seeks by filling the budget deficit.”
He pointed out that “decreasing the value of the dinar increased the competitiveness of the Iraqi price on the description that goods that come from abroad, especially Turkey, Iran, Syria, Saudi Arabia and Jordan, benefit from the strength of the Iraqi dinar against the dollar because the dollar currency is a global currency, and when the dollar exchange rate is raised, the competitiveness of goods will rise and fall.” Because it reduces Iraqi exports from abroad.”
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar. LINK
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Parliamentary Finance: Al-Kazemi’s government seeks to enhance the purchasing power of the dinar in the market
15th August, 2021
The Parliamentary Finance Committee expected, on Sunday, August 15, 2021, that the exchange rate would remain at its current status, while indicating that raising the exchange rate aims to achieve three main factors.
Committee member Naji al-Saidi said in a statement received by “The Obelisk” that the exchange rate will maintain its position during the next period for the next five years, describing that the real value of the Iraqi dinar is determined through the exchange of the dollar against the dinar in addition to the purchasing power of the Iraqi dinar and the resulting net goods and services during a certain period.
Al-Kazemi’s government is working to reduce the deficit in the general budget and increase cash reserves, while plans are employed to support local products in front of imported goods from countries.
He pointed out that decreasing the value of the dinar increased the competitiveness of the Iraqi price, describing that goods that come from abroad, especially Turkey, Iran, Syria, Saudi Arabia and Jordan, benefit from the strength of the Iraqi dinar against the dollar because the dollar currency is a global currency, and when the dollar exchange rate is raised, the competitiveness of goods will rise and fall because it is less Iraqi exports from abroad.
And the Central Bank of Iraq decided earlier to adjust the exchange rate of the dollar against the Iraqi dinar, as the purchase price of the dollar from the Ministry of Finance amounted to 1450 dinars, and the price of selling it to banks was set at 1460 dinars per dollar, while the selling price to the citizen is 1470 dinars per dollar.
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Poverty indicators in the country increased to 27 percent due to the increase in price hikes, according to the Ministry of Planning. The prices of goods, especially foodstuffs, rose due to the rise in the exchange rate of the dollar.
The main reason for the continued rise in the dollar exchange rate is the lack of real government control over the Iraqi market, as well as the work of private banks and exchanges, which manipulate prices according to their interest without any oversight or accountability.
Observers believe that the currency auction did not decrease in its sales, nor did the poor class improve its living conditions, and most importantly, it left an important segment of society under the burden of poverty, namely the employees and retirees.
The monthly income of employees and retirees declined as a result of the change in the exchange rate on the one hand, and on the other hand, the increase in the prices of goods, medicines and basic commodities in the local markets. LINK
MilitiaMan » August 16th, 2021
The currency will maintain is position (value) for the next five years!
That means after they change the exchange rate that it will maintain it’s position.
They are not telling us they intend to go into a market economy with a program rate of 1460. That is not what the WPs are telling us. They are geared to go into a market economy and give purchasing power.
They have given us ample support for that. Here they clearly spell it out. imo..
We are in this period of program rate the next period is different. They told us they are going to be a direct float or managed, hence, it will not change much over that five year period..
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I hope everyone see that now.. imo It is GOLD-N.. Oh ya.. ~ MM
ATPInfinity » August 16th, 2021
IMO GOLD-N GOOSE?
The next period… the next five years… based on…… the real value of the Iraqi dinar ….determined exchange of the dollar against the dinar in addition to the purchasing power of the Iraqi dinar and the net goods and services produced during a certain period.
THE LYRICS OF:MUSIC TO MY EARS…. “THE NEXT FIVE YEARS…purchasing power“
“….the next five years…the real value of the Iraqi dinar..determined…
dollar against the dinar…purchasing power….goods and services produced…”
“….the next five years…the real value of the Iraqi dinar..determined…
dollar against the dinar…purchasing power.…goods and services produced…”
“….the next five years…the real value of the Iraqi dinar..determined…
dollar against the dinar…purchasing power.…goods and services produced…”
“….the next five years…the real value of the Iraqi dinar..determined…
dollar against the dinar…purchasing power.…goods and services produced…”
“….the next five years…the real value of the Iraqi dinar..determined…
dollar against the dinar...purchasing power….goods and services produced…”
STARTING NOW!!!!!!!!!!!!!!! Thank you MilitiaMan….NOW CAME BEFORE NEXT!!!!!!!!
Samson » August 16th, 2021
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Finance Minister: The government has put the economic reality on the right track
16th August, 2021
The head of the Iraqi-Saudi Coordination Council, Minister of Finance, Ali Abdul Amir Allawi, confirmed that the Iraqi government has put the economic reality on the right track through the white paper.
Allawi said during the (Iraqi-Saudi Joint Business Council) in a statement of the General Secretariat of the Council of Ministers received by “Al-Iqtisad News”, that “the Iraqi government aimed, through the white paper, to put the economic reality on a path that allows the state to take appropriate steps to develop it into a dynamic economy.” Diverse, creating real opportunities for a decent life for citizens.
He added, “The council aims to support and strengthen economic relations, and increase the volume of business between the Republic of Iraq and the Kingdom of Saudi Arabia, and based on the desire and need of both sides, the Joint Businessmen Council was formed, which will ensure the growth of existing cooperation and increase interaction between representatives of the economic business sector, in order to Activating the volume of commercial, industrial and investment transactions.
For his part, the National Coordinator of the Council, Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, explained that “the Iraqi government has adopted a policy of opening prospects for cooperation in the Arab and international environments, in all fields, and has placed it among its priorities in its ministerial program, in order to advance the economic reality. The commercial, industrial and agricultural sectors of Iraq.
The agenda of the Council witnessed a democratic practice of electing a president and two deputies to the Business Council, as well as a presentation and discussion of the projects proposed by the members of the Council. LINK
Source: Dinar Recaps
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