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Central Bank: We are no longer bound by budget constraints on the dollar auction and wait for the federal decision in July
06/27/2015
BAGHDAD
The central bank revealed that he managed to lift restrictions on dollar auction after his recent meeting with the Finance Committee in the Parliament. He noted that the Federal Court is expected to issue its final decision, in next July, the appeals presented by the government is about items in the budget.
To that of the Finance Committee he said that the government appeals delayed release of grades and install contract employees, as well as obstruction to the imposition of duties and taxes provided for in the general budget.
announced the Governor of the Central Bank on the Keywords, last March, for an appeal to the Government to paragraph 50 of the financial budget law for the current year 2015, which require him to sell $ 75 million a day, and a description of this paragraph "Balgraybh and dangerous" as the central bank is subject to government guidelines.
and saw the rate of the dinar against the dollar quick setback since mid-May. Rose dinar exchange rate, in the domestic market, from 1121 dinars to 1400, despite the central bank continued to adopt its official rate in 1119 dinars to the dollar.
The Iraqi government has allowed the central bank in quantities of more than one dollar set by the budget. And reached the Central sales of the dollar, the end of last week, more than $ 314 million, which is a weakness of Iraq's daily revenues from the sale of oil.
He says on the Keywords, Governor of the Central Bank "long", that "the parliamentary Finance Committee began to understand the point of the central bank that it looked at presented an appeal to the Federal Court to protest to restrict the budget sales of the dollar bill in currency auction, "pointing out that" the crisis of rising rate of the dinar against the dollar has interpreted a lot of things. "
The Governor of the Central Bank on the Keywords, suggested during hosted last Sunday in the parliamentary finance committee, the abolition of the private bank's auction sale of foreign currencies including the US dollar to save the exchange rate against the dinar, and prevent the increase of the dollar exchange rate, and the liberalization of price without any limitation and sell it to anyone who wants to buy it, "stressing the central owning reserve" responds to any request with the restriction of sales instructions and controls but this What the Bank can not be done. "Keywords explains that" the appeals made by the government and central bank to the Federal Court, some of the paragraphs of the budget law will be decided in the next month of July after it was postponed in the previous session to study many aspects and mechanisms before making any rule. "
The central bank official draw that "after the last meeting with the Finance Committee became Article 50 of the budget, which the central sales restricted, does not exist in practice," revealing "agreement between the parliamentary Finance and the Central Bank to lift restrictions on currency auction whether the quantities or sell the dollar in order to avoid the crisis of rising Alsderf prices and maintain the currency situation. "
For his part, says MP Haitham al-Jubouri that "the parliamentary Finance Committee awaiting a response from the Federal Court on appeals made by the government and that up to 19 items in the federal budget law."
He said al-Jubouri, the "long", that "there are a lot of belongings and things, in the ministries and the House of Representatives, parked because of these appeals made by the Government before the Federal Court and await a decision by accepting Oorvdha soon."
and the member of the Finance Committee that "the most important of these things are grades, which stopped in more than one institution and the Ministry, as well as the installation of decades. "
It is noteworthy that the House of Representatives, approved the end of January last, the financial budget for the current 2015 in the amount of 119 trillion dinars, the equivalent of $ 117 billion, and a deficit of about 25 trillion dinars, or about 23 billion dollars, and calculates the price of a barrel of oil at $ 56 a barrel. "
He MP for the rule of law, "among other things, that stopped because of appeals from the budget, is the imposition of taxes on some goods and products mentioned in the budget law", stressing that "all these belongings need to bit the Federal Court appeals filed before them."
Jubouri revealed that "the House of Representatives feet, a week ago, the list of explaining to the Federal Court of eligibility to amend or add some paragraphs on the state budget for the year 2015 Law", pointing out that "the government It introduced a new regulation which objections to these paragraphs present. "
and imposed federal budget implementation of reform measures strict include austere in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits for sales of the Central Bank of currency in achieving oil exports of 3.3 million barrels per day at a price of $ 56 a barrel.
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06/27/2015
BAGHDAD
The central bank revealed that he managed to lift restrictions on dollar auction after his recent meeting with the Finance Committee in the Parliament. He noted that the Federal Court is expected to issue its final decision, in next July, the appeals presented by the government is about items in the budget.
To that of the Finance Committee he said that the government appeals delayed release of grades and install contract employees, as well as obstruction to the imposition of duties and taxes provided for in the general budget.
announced the Governor of the Central Bank on the Keywords, last March, for an appeal to the Government to paragraph 50 of the financial budget law for the current year 2015, which require him to sell $ 75 million a day, and a description of this paragraph "Balgraybh and dangerous" as the central bank is subject to government guidelines.
and saw the rate of the dinar against the dollar quick setback since mid-May. Rose dinar exchange rate, in the domestic market, from 1121 dinars to 1400, despite the central bank continued to adopt its official rate in 1119 dinars to the dollar.
The Iraqi government has allowed the central bank in quantities of more than one dollar set by the budget. And reached the Central sales of the dollar, the end of last week, more than $ 314 million, which is a weakness of Iraq's daily revenues from the sale of oil.
He says on the Keywords, Governor of the Central Bank "long", that "the parliamentary Finance Committee began to understand the point of the central bank that it looked at presented an appeal to the Federal Court to protest to restrict the budget sales of the dollar bill in currency auction, "pointing out that" the crisis of rising rate of the dinar against the dollar has interpreted a lot of things. "
The Governor of the Central Bank on the Keywords, suggested during hosted last Sunday in the parliamentary finance committee, the abolition of the private bank's auction sale of foreign currencies including the US dollar to save the exchange rate against the dinar, and prevent the increase of the dollar exchange rate, and the liberalization of price without any limitation and sell it to anyone who wants to buy it, "stressing the central owning reserve" responds to any request with the restriction of sales instructions and controls but this What the Bank can not be done. "Keywords explains that" the appeals made by the government and central bank to the Federal Court, some of the paragraphs of the budget law will be decided in the next month of July after it was postponed in the previous session to study many aspects and mechanisms before making any rule. "
The central bank official draw that "after the last meeting with the Finance Committee became Article 50 of the budget, which the central sales restricted, does not exist in practice," revealing "agreement between the parliamentary Finance and the Central Bank to lift restrictions on currency auction whether the quantities or sell the dollar in order to avoid the crisis of rising Alsderf prices and maintain the currency situation. "
For his part, says MP Haitham al-Jubouri that "the parliamentary Finance Committee awaiting a response from the Federal Court on appeals made by the government and that up to 19 items in the federal budget law."
He said al-Jubouri, the "long", that "there are a lot of belongings and things, in the ministries and the House of Representatives, parked because of these appeals made by the Government before the Federal Court and await a decision by accepting Oorvdha soon."
and the member of the Finance Committee that "the most important of these things are grades, which stopped in more than one institution and the Ministry, as well as the installation of decades. "
It is noteworthy that the House of Representatives, approved the end of January last, the financial budget for the current 2015 in the amount of 119 trillion dinars, the equivalent of $ 117 billion, and a deficit of about 25 trillion dinars, or about 23 billion dollars, and calculates the price of a barrel of oil at $ 56 a barrel. "
He MP for the rule of law, "among other things, that stopped because of appeals from the budget, is the imposition of taxes on some goods and products mentioned in the budget law", stressing that "all these belongings need to bit the Federal Court appeals filed before them."
Jubouri revealed that "the House of Representatives feet, a week ago, the list of explaining to the Federal Court of eligibility to amend or add some paragraphs on the state budget for the year 2015 Law", pointing out that "the government It introduced a new regulation which objections to these paragraphs present. "
and imposed federal budget implementation of reform measures strict include austere in investment projects, and a commitment to reducing expenses, and the revision of the maximum limits for sales of the Central Bank of currency in achieving oil exports of 3.3 million barrels per day at a price of $ 56 a barrel.
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