Wed. AM TNT News Articles 11-17-21




Clarification from Al-Kazemi’s advisor regarding the decrease in the external public debt

Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, explained that the country’s external public debt has fallen to $20 billion.

Saleh said, “What was referred to as the decrease in the external public debt to $20 billion is the debts payable, and it does not include the internal public debt or any related external debts that have not been settled under the Paris Club Agreement, which is still included in the public debt and belongs to before 1990, and is routinely included in the known details of religion.”

Earlier, Adviser to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, announced that the country’s external public debt had decreased to $20 billion, while stressing that the year 2022 would be free of financial hardships and financing restrictions.   link

A financial official determines the possibility of changing the dollar exchange rate in next year’s budget

The (former) Director of the Financial Supervision Bureau, Salah Nuri, has determined, on Tuesday, the possibility of restoring and considering the previous dollar exchange rate.

Nuri said in an interview with “Mawazine News” that “according to our information, the general budget for the next year is not much different from the budgets of previous years, in terms of financial allocations and disbursement, as they will be followed by the same mechanism, and that the method of preparing it and the financial and spending ceiling is similar.”

He added, “There is a possibility to reconsider the dollar exchange rate gradually, and that the return will not be in the same way it was changed,” noting that “the exchange rate remains on its status in the 2022 budget.”

He pointed out, “The rise in the exchange rates of the dollar greatly affected the living situation of citizens, and that the benefit was obtained only for the Ministry of Finance by increasing its financial liquidity and disbursing salaries without the need to borrow.”

He pointed out that “the currently approved exchange rate reduced the ability of the Iraqi citizen (the employee) to purchase by 48%, while the fragile classes were the most affected.”  link

Expectations of financial abundance and the disappearance of the deficit in 2022




A member of the Parliamentary Finance Committee in the former parliament, Sherwan Mirza, expected a financial abundance in the 2022 financial budget due to the rise in oil prices.

Mirza told {Euphrates News}: “There is a financial abundance that has been achieved and the possibility of improving the economic situation due to the increase in oil prices.”
He added, “So far, Iraq has not resorted to borrowing, whether external or internal, and it is at the end of the year.”

Mirza pointed out that “there is full financial coverage, meaning there is no financial deficit until now.”
He continued, “The government has fulfilled its full financial obligations towards the citizens, and there are expectations that the price of a barrel of oil will stabilize at the rate of 80 dollars  link

Source: Dinar Recaps


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