very interesting hmmmm
The Central Bank determines the dollar price variables and the mechanism for disposing of oil differences
Today, Friday, the Central Bank determined the variables that are subject to the process of selling the dollar from the specified outlets, while revealing the mechanism for disposing of oil price differences.
Deputy Governor of the Central Bank, Ihsan Shamran al-Yasiri, said in a statement to the Iraqi News Agency (INA) today, Friday: “Changing the dollar exchange rate is a studied step from several sides, and the decision to amend was not taken until after extensive studies from the Ministry of Finance (the Financial Authority) and between the Central Bank (the authority). monetary) and in agreement with important international institutions for a fair situation of the dollar,”
Noting that “the central bank reached this price, which is the fiscal policy price 1450, to which the central bank commission is added, as well as the bank’s commission, so there are three prices: the price of (financial policy) 1450 and The Central Bank) sells 1460 to the banks, and in turn (the banks) sells to the public 1470.”
He pointed out that “the exchange rate change is not due to the existence of a financial problem, and it was increased and when the price is reduced, but the exchange rate is a financial tool that has nothing to do with the immediate problem,” explaining that “the exchange rate change was long overdue, and it was supposed to be modified from 2010, and we hope that The price stabilizes, takes sustainability and restores economic activity in light of the current price.”
He added that “the budget surplus due to the improvement in oil prices will help reduce the fiscal deficit, and he does not believe that it will help until the end of the year to bridge the deficit because it is large,” noting that “there are proposals for the use of oil price differences for projects, governorates and others, but the opinion of the government and the parliamentary and financial authority That filling the deficit takes precedence over the expansion of spending link
Oil rises thanks to hopes of economic recovery and the decline of the dollar
Oil prices rose by more than a dollar a barrel on Thursday, supported by a state of optimism about the pace of global economic growth despite the Corona pandemic, as well as due to the decline in US crude stocks.
Brent crude rose $1.78, or 2.5 percent, to $73.37 a barrel by 1543 GMT. US West Texas Intermediate crude rose $1.92, or 2.8 percent, to $70.51 a barrel.
The number of Americans filing new claims for unemployment benefits fell last week, while the layoff rate in August fell to its lowest level in more than 24 years, indicating labor market activity despite new Covid-19 infections.
The Organization of the Petroleum Exporting Countries and allied producers, including Russia, a cartel known as OPEC+, raised demand forecasts for 2022, in a sign of optimism about the global economic recovery.
And “OPEC +” agreed yesterday, Wednesday, to continue the policy of phasing out record production cuts by adding 400,000 barrels per day each month to the market.
But “OPEC +” raised its demand forecast in 2022 while also facing pressure to accelerate production increases from the administration of US President Joe Biden, which said it was “happy” that the group reaffirmed its commitment to increasing supplies.
The US Energy Information Administration said yesterday that US crude stocks fell by 7.2 million barrels, and that the supply of oil products provided by refiners increased to a record level, despite the increase in Corona virus infections across the country link
Al-Kazemi to the Speaker of the Jordanian Parliament: Iraq has gone through difficult circumstances and is now in the recovery stage
Prime Minister Mustafa Al-Kazemi received, on Saturday, the Speaker of the Jordanian Parliament, Abdul Moneim Al-Awdat.
A statement by the Prime Minister’s Office stated that Al-Kazemi welcomed the guest delegation, and emphasized the depth of bilateral relations between Iraq and Jordan, which had recently reached a high level of cooperation, praising the role of King Abdullah II bin Al Hussein in developing these relations, and this was evident in his active presence in Tripartite summits, and also in the Baghdad Conference for Cooperation and Partnership.
He added that the consolidation of relations between Baghdad and Amman will reflect positively on the stability of the region, in addition to achieving strategic and economic partnerships, urging parliamentarians in both countries to work; In order to facilitate the process of bilateral and regional integration, initiated by the Iraqi and Jordanian governments.
The Prime Minister stressed, according to the statement, that Iraq has gone through difficult circumstances, and is now in the stage of recovery, and moving towards the normal situation it deserves.
For his part, the Speaker of the Jordanian Parliament, Abdel Moneim Al-Awdat, conveyed the greetings of King Abdullah II bin Al-Hussein to the Prime Minister, stressing the Kingdom’s keenness to build the best relations with Iraq, as well as his blessing for the success of the Baghdad Conference for Cooperation and Partnership recently hosted by Iraq, and praised the steps it is taking the Iraqi government towards adopting a policy of dialogue and calm; To ensure the stability of the region, as well as Jordan’s appreciation of Iraq’s role in combating terrorism that threatens the security of the entire region.
Al-Awdat stressed that the balance and recovery that Iraq is witnessing deserve support and backing.
Source: Dinar Recaps
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