KTFA
Samson » September 3rd, 2022
Economist: Inflation has reached more than 12% in Iraq
3rd September, 2022
The annual inflation level in Iraq for the month of July increased by 12.3% compared to the same period in 2019, bringing the record in July 2022 to 117.8, which is the highest inflation rate recorded in the country in more than ten years
The economic and financial expert, Manar Al-Obaidi, said in a press statement, seen by “Economy News”, that “the inflation level in food prices rose by 11.2%, while the inflation level in housing, water, electricity and gas prices rose to 10.1 % per cent
At the level of transportation prices, the inflation rate in Iraq increased by 16.8%, and the most inflated rate was the prices of health and medical services, which rose by 27.8% compared to July 2019, and the general index of the Health Department reached 149.9, an increase of 50% compared to the measurement year. Which is considered the year 2012, according to Al-Obeidi
The Iraqi economic expert attributed the reasons for the high rates of inflation to many factors, including “the rise in oil prices, which reflects its shadow on all goods and services, in addition to changing the exchange rate of the dinar against the dollar,” and these two reasons are enough to raise inflation rates to reach these record levels
According to the data of the Iraqi Ministry of Planning, the number of citizens below the poverty line has reached “9 million people” and with the high rates of inflation, it is expected that this percentage will rise in the future, according to Al-Obeidi
Al-Obaidi pointed out that “the Iraqi government does not take any actual measures that would reduce the inflation rates that qualify for the rise as a result of the lack of approval of the budget and the absence of programs that limit the impact of the inflation level on the Iraqi citizen
He pointed out that “the local products that would reduce inflation rates are still below the level and unable to cover the need for imported products LINK
Source: Dinar Recaps
Samson » September 3rd, 2022
Dissolution of Parliament .. Will the Federal Court’s decision be decisive this time?
And he indicated that “Parliament is dissolved from the moment the Federal Court issues its decision, and the President of the Republic will be called for early elections two months after its date,” noting that “there is no harm in the invitation of the President of the Republic, even if it is expired.” LINK
Ryan1216 » September 3rd, 2022
Does this mean Maliki is backing off now and Parliament will be dissolved by the Federal Court?
Clare » September 3rd, 2022
FRANK TOLD US THE CF(Coordination Framework) ,.. STATE OF LAW, MAIKI, WILL HAVE NO PLACE IN KAZEMI’S GOV! DID YOU SEE WHAT SADR DEMANDED IN POST #26? HE WANTS THE IRANIAN BACKED MILITIAS REMOVED (AND IN THE GREEN ZONE) …THE PEOPLE ARE ALL ON THE SIDE OF KAZEMI & SADR!
WE SHALL SEE OF COURSE ABOUT THE RULING IF IT WOULD BE POSTPONED OR NOT …BUT THIS NEWS IS VERY POSITIVE FOR US..
Clare Cont…..SO YOU SEE HOW THEY HAVE BEEN DRIPPING THINGS TO THE OPPOSING SIDE? THE FRAMEWORK WILL HAVE NO PLACE IN THE GOV LIKE FRANK SAID .. WE JUST ARE WATCHING IT PLAY OUT..KAZEMI THREATENED TO VACATE WAS ONE OF THOSE DRIPS….
PRETTY SOON THE TSUNAMI WILL OVERTAKE ALL THOSE CORRUPT WICKED LEADERS AND WE WILL WITNESS IT. IRAQ WILL PROSPER WITHOUT THAT EVIL…. AND GETTING RID OF THEM AT THIS TIME IS VERY GOOD FOR OUR INVESTMENT & IT IS VERY GREAT FOR THE IRAQI CITIZENS!!!…IMO
WE ARE AT THE END… BE PATIENT A LITTLE LONGER ..WE ARE WATCHING IT PLAY OUT. KAZEMI & SADR ALREADY WON.
“The heat and spark in the hearts of the Sadrists in general and the fair in particular will soon bear fruit on every Iraqi loyal to his homeland,”
REMEMBER SADR WANTS THE REFORMS (NEW EXCHANGE RATE) DONE FOR THE CITIZENS!!!
ALL IMO
Samson » September 3rd, 2022
Iraq invests in high oil revenues by buying gold and bonds
3rd September, 2022
Iraq depends more than 95% on crude oil exports to build the general budget annually, while the agriculture, industry, tourism and other sectors constitute only about 5% of the annual finance.
And last July, Iraq exported about 100 million barrels from oil fields in the center and south of the country. As for the exports of Kirkuk fields (north) through the Turkish port of Ceyhan, they amounted to about two and 350 barrels.
The total oil export revenues in the same month were more than 10 billion dollars, at a rate of 3 million 303 thousand barrels per day, at a rate of 103.60 dollars per barrel.
According to the economic advisor to the Iraqi government, Mazhar Muhammad Salih, Iraq’s debts are divided into 3 types: internal, external, and long-term very concessional.
Saleh detailed these debts in numbers, saying that the internal public debt amounts to 50 billion dollars, and the Central Bank of Iraq still possesses 63% of the principal debt and its interests, and the annual interest ranges between 2 and 3%, and the rest of the internal debt is still in the possession of government commercial banks.
This means that they are settlements within the government financial system exclusively in the form of treasury transfers for a period of one year, whose payment has been postponed until the annual interest on them has been paid from the annual allocations in the general budget.
He pointed out that the Council of Ministers approved, months ago, a gradual annual plan to pay the internal public debt, according to Al-Jazeera.
With regard to the external public debt, Saleh explains that it is divided into two parts. The first is an outstanding debt of $20 billion, which is currently repaid on a regular annual basis by the Ministry of Finance, and is expected to be repaid by the year 2028.
As for the second part of the foreign debt amounting to 40 billion dollars, it represents almost bad debts that were not claimed by the creditors under the terms of the Paris Club Agreement of 2004 regarding the cancellation of 80% of Iraq’s foreign debts before 1990, dating back to the era of the former regime.
According to Saleh, the suspended external debt belongs to 8 countries, 4 of which are Gulf countries that loaned Iraq during its war with Iran, and it is considered in international norms as obnoxious or hateful debts because it financed the war and did not serve economic development, but it still appears in the accounts books of those countries, and it is expected Cross it off 100% without limiting time.
As for the last part that the economic advisor talked about, it is very soft long-term debts related to financing development projects that were submitted after 2003 under the Madrid Donor Conference pledges in October 2003, and are due to be paid after more than 20 years, and are estimated at about $6 billion belonging to the Cooperation Agency. Japanese International Economic and some EU countries funds. LIN
Source: Dinar Recaps
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