Next Monday… the start of the Iraqi-Emirati Business Forum
The Iraqi-Emirati Business Forum announced the launch of its work next Monday, under the auspices of Prime Minister Muhammad Shia’a Al-Sudani, at the Babel Hotel, in the presence of a high-ranking delegation that includes 65 Emirati businessmen commissioned by the government of the United Arab Emirates.
The forum stated in a statement that it will be launched in the presence of the President of the Federation of UAE Chambers of Commerce and more than 200 Iraqi businessmen from various commercial and economic sectors, headed by the President of the Federation of Iraqi Chambers of Commerce, Abdul Razzaq Al-Zuhairi link
An economist: Paying farmers’ dues in Iraqi dinars will contribute to stabilizing the demand for the dollar
The expert in economic affairs, Safwan Qusai, confirmed that opening a window to receive the Iraqi dinar for the benefit of wheat marketers from farmers in Iraqi bank accounts as a protected dinar from fluctuations, will contribute to stabilizing the demand for the dollar in the parallel market.
Qusai said in a statement to the Iraqi National News Agency ( NINA ) that “paying farmers’ dues directly in Iraqi dinars and increasing the quantity received to more than 4 million tons during this year and buying it at a price of 850,000 dinars per ton means pumping more than 3.5 trillion dinars and trying to hedge by buying The dollar by marketers, “stressing that, opening a window to receive the Iraqi dinar for the benefit of marketers in Iraqi bank accounts as a protected dinar from fluctuations will contribute to the stability of the demand for the dollar in the parallel market and its gradual return to the official price.”
He indicated that there are other solutions that can be activated to limit the decline in the value of the dinar in the parallel market in the current period. link
Concerning the dollar.. The Ministry of Interior issues “important” directives to shop owners
The Minister of Interior, Abd al-Amir al-Shammari, today, Saturday, issued directives regarding dealing in dollars in local markets in two governorates, while the Organized Crime Directorate conducted a campaign to publish the directives.
The director of the Organized Crime Division, Col Jamal Al-Din Abdul-Razzaq, in an interview with Alsumaria News According to the instructions of the Minister of the Interior, to follow up the prices in the local markets and showrooms for the sale of cars, it was decided to prevent dealing in buying and selling in US dollars and to adhere to the local currency, exclusively in the city of Samarra in the province Salahaddin“.
He added, “His detachments conducted a round that included taking pledges from merchants and exhibition owners not to deal in dollars, in order to raise the level of the dinar against the dollar and miss the opportunity for crisis traders.”
The director of the crime department vowed to “take legal measures against the violators and complete the investigative papers to present them to the judiciary.”
Besides, I didDirectorateFight against organized crime, in the capitalBaghdad, with a similar campaign and taking pledges from shop owners and commercial companies not to deal in dollars and support the Iraqi dinar.
In turn, the owners of shops and exhibitions praised this step. As it will contribute to the stability of the dollar price in the local markets.link
Parliamentary Finance nears end of budget discussions
Baghdad – NAS
The Finance Committee in the House of Representatives is close to concluding discussions on the general budget paragraphs, as it has come a long way by hosting the relevant ministries and institutions, stressing its efforts to increase the allocations for the development of regions in the governorates within the draft budget.
The second vice president of the Finance Committee, Ikhlas Al-Dulaimi, said in an interview with the official newspaper “Nas”, (May 13, 2023), that “the budget discussions have reached advanced stages, after the committee hosted most of the ministries and institutions, of which only a few remain.”
She pointed out that “the committee reached a vision that it is very difficult to reduce the volume of spending in it, as we found real spending needed by the state because of the obligations or amounts of money it incurred due to exceptional circumstances, demonstrations and other major problems, in addition to the fact that the launch of appointments added great financial burdens on it.”
She explained that “the size of the budget reached 198 trillion dinars, and it is very difficult to reduce it, but we are trying to address the imbalance of the deficit by maximizing state revenues and developing texts that achieve collection, as our non-oil revenues are not at the level of ambition, and we need to support and organize revenues to match oil revenues or at least be at a reasonable percentage in the budget and not this very small percentage.”
Al-Dulaimi added that “the financial committee’s orientation towards supporting the families of martyrs because their budgets are few and do not live up to ambition, especially those who were martyred in recent years during the war with (ISIS) to the present time,” and while referring to the meeting of the (State Administration Coalition), which set May 17 as a preliminary date for voting on the budget, she stressed that “the committee will proceed with approving the budget as soon as possible because the Iraqi street is waiting for the opening of the door for spending to change the difficult living conditions it is going through.”
For his part, a member of the Finance Committee, Mueen Al-Kazemi, explained in a statement to the same newspaper, “The committee appreciates the needs of the governorates, and in appreciation of the good performance of some governors, there is a trend to increase the development of the regions from 2 trillion and 500 million to 4 trillion dinars, taking into account that the emergency support budget was disbursed to the governorates at the beginning of this year 2023 and not much of it has been spent so far.”
“The governors have nearly 8 trillion dinars, distributed and not used so far, in addition to the remaining amounts of previous years, so the provinces have a great opportunity to complete projects and the funds will not remain rounded,” he said.
Source: Dinar Recaps
A country that trades exclusively in dinars: exhibitions and the wholesale market pledge not to deal in dollars
Car showrooms and more than 40 wholesale food stores signed a pledge to 20 buy and sell in Iraqi dinars only, and stamped their commitment to the controls and instructions of the Organized Crime Office, during a joint field tour with the .local police and national security
The contractors showed cooperation on the first day of the campaign, while the .security services will take strict penalties against the violators
Investment directs to adopt the dinar in the payment of dues for housing units Director of the Office of Combating Organized Crime – Lieutenant Colonel : Mustafa Wahhab to Network 964 We implemented a major campaign to prevent selling in dollars, after the exchange rate rose against the Iraqi dinar, and we took fingerprints and pledges .from the owners of exhibitions and markets
We have achieved fruitful cooperation with everyone, and strict penalties will be .imposed against violators, according to Article 240 of the Iraqi Penal Code :Baqer Al-Obaidi – shop owner I signed a pledge to deal in dinars in buying and selling, and to abide by these .procedures in support of the national currency
Meethaq Fazaa – From customers We encourage these government steps, because they will benefit the citizens link
Source: Dinar Recaps
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