The Sadrist movement reveals a trend regarding the dollar exchange rate
The Sadrist movement, led by Muqtada al-Sadr, confirmed today, Thursday, its quest during the next stage to change the exchange rate of the dollar against the Iraqi dinar.
The leader of the movement, Riyadh Al-Masoudi, said, in a statement that followed (Al-Oula News), that “the Sadrist movement will work through the Sadrist Parliamentary bloc as well as the new Iraqi government to change the exchange rate of the dollar against the Iraqi dinar, as raising the exchange rate has a great impact on citizens, especially those with limited incomes.
The fact that this rise affected the rise in food prices and other things in the Iraqi markets.”
And he indicated that “the rise in oil prices in the global market will be a guarantee of providing financial abundance, instead of resorting to raising the exchange rate of the dollar, this is the economic solution, which Mustafa Al-Kazemi’s government worked on,” adding: “We will work to find other solutions other than him in a way that does not harm.”
The Iraqi people, we are with the people in their aspirations and we will do everything that is in the interest of the people economically. link
Al-Kazemi’s government reveals an “oil and financial surplus” in the 2022 budget
Mazhar Muhammad Salih, the financial and economic advisor to Prime Minister Mustafa Al-Kazemi, revealed today, Thursday, the presence of an “oil surplus” in the draft budget law for the year 2022.
Saleh told Shafaq News Agency; “The 2022 budget will achieve a financial surplus due to the rise in oil prices, and calculating a lower price in law than the price at which oil will be sold in global markets, and this will provide an account of the stability of the budget.”
And he indicated that “the stability of the budget will provide the Iraqi government with a reserve, which aims and helps in facing the fluctuations of the revenues of the general budget in the coming years, and that the financial surplus will be spent on investment projects, especially stumbling, income-generating and maximizing value-added, which absorbs the momentum of unemployment and helps raise growth in GDP.” Total”.
On March 31, 2021, the Iraqi parliament approved the country’s financial budget for the current year 2021, with a total expenditure of 129 trillion dinars (about $88 billion).
The estimated revenues from the export of crude oil were also calculated on the basis of an average price of $45 per barrel, and an export rate of 3.250 million barrels per day.
According to the budget law for the year 2021, the total expenditures amount to 129 trillion Iraqi dinars, and the planned deficit rate is 28.7 trillion Iraqi dinars (19.79 billion dollars). link
Hungary is looking for opportunities for cooperation and economic partnership with the Kurdistan Region
The new Hungarian Consul General in Kurdistan Region affirmed during his meeting with the President of Kurdistan Region, Nechirvan Barzani, today, Thursday, that his country is committed to developing its relations with Kurdistan Region, especially in the economic field, indicating that for this purpose they are looking for more opportunities for cooperation and partnership.
And according to a statement by the presidency of the region received by Shafaq News Agency, Barzani received, on Thursday afternoon, the Hungarian Consul General to the Kurdistan Region, Atilla Tos, noting that Barzani, in addition to congratulations and wishes for success and support for the new consul, expressed his thanks and appreciation to Hungary for its support to the Kurdistan Region and Iraq within the framework of The international coalition against ISIS and its provision of humanitarian aid to the displaced and refugees, and the desire of the Kurdistan Region to develop bilateral relations.
The statement indicated that the new Hungarian consul expressed his pleasure in carrying out his duties and stressed that his country is committed to developing its relations with the Kurdistan Region, especially in the economic field, indicating that for this purpose they are looking for more opportunities for cooperation and partnership.
The Iraqi parliamentary elections, speculation about the future of the political process, the formation of the Iraqi government, and the war against ISIS were other topics in the meeting, according to the same statement link
Source: Dinar Recaps
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