Gold prices rise in Baghdad markets and stabilize in Kurdistan
Shafaq News / Foreign and Iraqi gold prices rose in the local markets in the capital, Baghdad, while it settled in the markets of Erbil, the capital of the Kurdistan Region, on Sunday, (January 29, 2023).
The correspondent of the agency Shafaq News, that gold prices in the wholesale markets on River Street in the capital Baghdad recorded this morning, the sale price per weight 21 carat of Gulf, Turkish and European gold 438 thousand dinars, and the purchase price 434 thousand dinars, while the prices for yesterday, Saturday, 433 thousand dinars per weight.
Our correspondent pointed out that the sale price of one 21-carat weight of Iraqi gold also recorded stability at 408 thousand dinars, and the purchase price reached 404 thousand.
With regard to gold prices in goldsmiths’ shops, the sale price of the Gulf gold weight 21 carat ranges between 440 thousand dinars and 450 thousand, while the sale price of the Iraqi gold weight ranged between 410 thousand and 420 thousand dinars.
As for gold prices in Erbil, they have witnessed stability, as the sale price of 24-carat gold was 505 thousand dinars, and 22-carat recorded the sale of 465 thousand dinars, and 21-carat recorded the sale of 445 thousand dinars, while 18-carat sold 380 thousand dinars.
It is equal to one weight of gold (five grams).
The budget enters the dark tunnel.. Baghdad is waiting for 880 billion dinars per month from the region in exchange for its financial shares!
The general budget for the year 2023 entered, in a dark tunnel, amidst continuing conflicting figures regarding its size, amid the great demands that come to the Sudanese government from the governorates and ministries until the budget volume reached nearly 250 trillion dinars, in an unprecedented record, while the Federal Supreme Court’s decision came to further complicate the possibility Pass the budget.
Talk began about the size of the 2023 budget from the Parliamentary Finance Committee, represented by a member of the committee, Mueen Al-Kazemi, who said that it is about 140 trillion dinars, so that the economic advisor, Mazhar Muhammad Salih, came to say that it ranges from 150 to 200 trillion dinars, while a member of the Finance Committee, Mustafa Jabbar Sanad, said that it amounts to 269 Trillion dinars.
Today, a member of the Parliamentary Finance Committee, Ikhlas al-Dulaimi, is speaking, indicating that the budget amounted to 246 trillion dinars, with a deficit of 75 trillion Iraqi dinars, which caused its delay.
Public revenues for 2023 are expected to reach about 150 trillion dinars. Accordingly, any spending volume greater than that will lead to a budget deficit.
On the other hand, Al-Dulaimi indicated that the Council of Ministers was scheduled to receive the budget law at the end of this month, but that did not happen due to the large amount of money in the deficit, in addition to the recent decision of the Federal Supreme Court to stop sending money to the Kurdistan region.
And the region must send export amounts of 250 thousand barrels per day to Baghdad at SOMO price, or about 20 million dollars per day, or 600 million dollars per month, or about 880 billion dinars per month, in return the region receives its share in the budget. link
Sudanese advisor: The government is determined to return the exchange rate within a short period
Today, Sunday, the political advisor to the Prime Minister, Fadi Al-Shammari, revealed eight main files that the current Iraqi government focuses on in its government curriculum, according to Shafaq News Agency.
Al-Shammari said, “There are eight main files that the government focuses on in its government curriculum, and it focused on them even in drawing up the details of the country’s general budget, which will soon be sent to Parliament, which is the file of combating corruption with non-routine procedures, the file of the economy, the implementation of a comprehensive economic policy, and the return of the exchange rate to its official price.”
Within a short period, the electricity file, the health sector reconstruction and restructuring file, the strategic services and projects file, the file of activating large and small investments, the file of foreign relations and turning them into productive politically, economically and security relations, the file of zeroing internal crises and restructuring national relations in a way that regulates the effectiveness of the political system and consolidates the institutional work of the state.
The political advisor to the prime minister added that “we are facing a great success story if we join efforts and achieve political, security and popular stability, and we will see the outputs of these files in the coming months link
A door to corruption”… A leader in the framework reveals the role of the Association of Banks in the dollar crisis
Today, Sunday, the leader in the coordination framework, Mahmoud al-Hayani, launched an attack on the Iraqi Private Banks Association, while stressing that this association is a “door to corruption.”
Al-Hayani said, to (Baghdad Today), that “the Iraqi Private Banks Association is part of the issue of the crisis of the rise of the dollar, especially since this association includes many banks that are the cause of currency smuggling and money laundering, and this association did not have any role in this crisis, but It was part of the crisis, not its solution.
He explained that “the Iraqi Private Banks Association is a door to corruption and extortion, and there is a political agenda for this association, and for this the relevant parliamentary committees must follow up on their work.”
He continued, “The competent executive authorities are also required to monitor this association and close it if it does not benefit Iraq in such a crisis, but rather harms it.”
In light of the continuing dollar crisis and the instability of exchange rates, the Iraqi Banks Association remains silent without expressing any position on price fluctuations.
Since November 2022, the exchange rate of the US dollar against the Iraqi dinar has witnessed a gradual increase, reaching its highest levels in recent days, as it crossed the barrier of 165,000 dinars per 100 dollars. link
Source: Dinar Recaps
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