Securities expect the dollar to fall after the budget is approved
Baghdad – Iraq Today:
The Chairman of the Securities Commission, Faisal Al-Hims, expected the markets to witness a decline in the exchange rate of the dollar against the Iraqi dinar after the approval of the general budget.
Al-Hims said in a statement that “the stability of the dinar rate will enhance confidence between investors and the Iraqi Stock Exchange, and it is expected that the exchange rates of the dollar against the Iraqi dinar will decline and stabilize after the adoption of the 2023 budget.”
He added that “the Commission supports the Iraqi dinar and its stability must be a common interest,” pointing out that “the Central Bank has taken measures to reduce the fluctuation of the exchange rate and expected its stability at 1320 dinars to the dollar.”
Al-Hims attributed the fluctuation of the exchange rate to the failure to approve the budget and the failure to launch projects, calling for the government’s support and the speed of budget approval to stimulate stability in the exchange rates of the dinar against the dollar.
Final agreement to send the draft budget to the Finance Committee and to vote at 6 p.m
An informed source in the office of First Deputy Speaker of Parliament Mohsen Al-Mandalawi revealed, today, Thursday, that the heads of political blocs and parties have sent the draft budget law to the Parliamentary Finance Committee.
The source told (Baghdad Today) that “the heads of the blocs and parties will send the draft budget law to the Parliamentary Finance Committee.”
He pointed out that “the transmission will take place after political agreement on it in full for the purpose of voting on it at six o’clock in the evening.”
Earlier, the House of Representatives announced that the House of Representatives session would be postponed until 8:00 pm today, Thursday.
And the Parliament’s media department stated, in a statement received by (Baghdad Today), that “the First Deputy Speaker of the House of Representatives announced the postponement of the parliament session for approving the budget until eight o’clock this evening link
Al-Barti on today’s session: Things are positive, and we are afraid of surprises in the last moments
Today, Thursday, a member of the Kurdistan Democratic Party, Wafaa Muhammad Karim, described the recent agreements between political parties regarding the budget as “positive.”
Karim told (Baghdad Today), that “despite the objections of a number of members of the Finance Committee to cancel the articles related to the region, the leaders of the political blocs gave us approval to proceed with the cancellation of the articles.”
He added, “Until this moment, the atmosphere is positive and reassuring, but we fear last-minute surprises,” stressing that “the position of the Democratic Party representatives attending today’s session will be decided by the party’s leader in the coming hours.”
Earlier in the day, the House of Representatives announced that the House of Representatives session would be postponed until 8:00 pm today.
And the media department of Parliament stated in a statement (Baghdad Today), that “the First Deputy Speaker of the House of Representatives announced the postponement of the parliament session for approving the budget until eight o’clock this evening.”
For his part, a member of the Patriotic Union of Kurdistan, Salih Faki, confirmed today, Thursday, that the representatives of the Union bloc will attend the parliament session for this day .
Faki said to (Baghdad Today), “The National Union and its deputies are determined to proceed with approving the draft general budget, as it was long overdue .”
He added, “The National Union Bloc will attend the session scheduled for this day and vote on it, to proceed with this project to serve the citizens of Iraq and the region.”
The Presidency and the Kurdistan Regional Government have previously objected to the amendments made to the paragraphs related to the region in the financial budget that the Iraqi Parliament seeks to approve, describing it as a violation of the laws, the constitution, and the agreements concluded between Erbil and Baghdad, which resulted in the formation of the current federal government headed by Muhammad Shia al-Sudani link
Source: Dinar Recaps
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