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A parliamentary move facing an economic challenge.. the dollar exchange rate in front of two options, the best of which is “bitter”!
October 24 19:56
information/special.
Parliamentary moves appear clearly during the formation of the new government to
return the dollar exchange rate back to what it was before, to
address the economic reality that has been greatly affected by the “unfair” decision taken by the caretaker government,
but the real desire may be shocked by the economic challenges and the cost of restoring the price , which is an obstacle to his return again.
On December 19, 2020, it was officially announced that the foreign exchange rate (the US dollar) would be 145,000 dinars for every $100, according to the state’s general budget for 2021 approved by the House of Representatives.
*"return cost"
“Every action has a reaction.” Raising the dollar exchange rate must bring negative results that may appear sooner or later on the Iraqi government, and these results may cost the country trillions of dinars in return for bringing it back to what it was before.
In this regard, the economic expert, Nabil Al-Marsoumi, determined the financial cost of returning the dollar exchange rate to before the levels of 2020.
Al-Marsoumi states in a post on his Facebook page that
"the annual financial cost of restoring the dinar exchange rate to what it was before amounts to about 25 trillion dinars." He added,
"The cost is renewable every year and is not a one-time cost."
Today, Monday, the dollar exchange rates witnessed a decline in the local markets.
And the selling prices of the dollar were 146.400 dinars per 100 dollars, while the purchase prices of the dollar were 146.300 dinars per 100 dollars.
*"Parliamentary Actions"
The high cost of living due to high prices, twice what it was before the vote to raise the price of the dollar in 2020, prompted the presence of actual moves by members of the House of Representatives to lift the country’s economy out of the miserable state it reached as a result of the Al-Kazemi government’s decision.
For her part, a member of the House of Representatives, Zahra Al-Bajari, revealed that
parliamentary signatures were collected to include a paragraph to gradually reduce the price of the dollar to protect the Iraqi citizen from the unfair decision of the Al-Kazemi government to raise the price of the dollar. And Al-Bajari indicated, in a statement received by / the information /, that
"the Iraqi parliament is starting to move towards voting on re-exchange of the dollar and gradually reducing the price to protect the consumer and the Iraqi citizen." She pointed out that
"41 parliamentary signatures were collected to issue a parliamentary decision to reduce the price of the dollar."
In turn, the representative of the Al-Fateh Alliance, Suhaila Al-Sultani, confirmed, today, Monday, that
the House of Representatives will host the Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar. Al-Sultani said in an interview with "Al-Maalouma", that
"the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to put pressure on reducing the exchange rate, even if it was in stages or gradually." She added,
"The exchange rate must be reduced due to the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty," stressing that
"the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based." And she added,
"All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days."
* Economic analysis
For his part, the economic expert, Dia Al-Mohsen, considered restoring the dollar exchange rate at the present time to be useless, and would cause a major economic shock in the Iraqi market.
Al-Mohsen said in an interview with / the information agency, that
"the issue of restoring the dollar exchange rate at the present time is useless, given that
there are no real economic justifications that give importance at the present time," noting that
"the responsibility of the Central Bank is to monitor the market and given that
the Iraqi economy is market and that
The exchange rate of the dollar is controlled by supply and demand and nothing else. He adds,
"The Iraqi government is required to revitalize the economy and important sectors such as agriculture and industry, instead of restoring the exchange rate to what it was, which may cause a major shock that may exceed the shock that occurred in 2021." He points out,
"There is a large abundance of foreign currencies through which the government can revive the Iraqi economy," noting that
"there is a lot of labor that can be put into these projects, which may generate additional revenues."
The caretaker government often prides itself on raising the financial stockpile that arrived by chance, taking advantage of the rise in international oil prices and the weight of the citizen’s priest by raising the exchange rate on him and devaluing the local currency.
The suffering facing the Iraqis does not stop at a certain limit, and it will continue until the coming of the government of “the people’s creation.” Ended / 25 R.
A parliamentary move facing an economic challenge.. the dollar exchange rate in front of two options, the best of which is “bitter”!
October 24 19:56
information/special.
Parliamentary moves appear clearly during the formation of the new government to
return the dollar exchange rate back to what it was before, to
address the economic reality that has been greatly affected by the “unfair” decision taken by the caretaker government,
but the real desire may be shocked by the economic challenges and the cost of restoring the price , which is an obstacle to his return again.
On December 19, 2020, it was officially announced that the foreign exchange rate (the US dollar) would be 145,000 dinars for every $100, according to the state’s general budget for 2021 approved by the House of Representatives.
*"return cost"
“Every action has a reaction.” Raising the dollar exchange rate must bring negative results that may appear sooner or later on the Iraqi government, and these results may cost the country trillions of dinars in return for bringing it back to what it was before.
In this regard, the economic expert, Nabil Al-Marsoumi, determined the financial cost of returning the dollar exchange rate to before the levels of 2020.
Al-Marsoumi states in a post on his Facebook page that
"the annual financial cost of restoring the dinar exchange rate to what it was before amounts to about 25 trillion dinars." He added,
"The cost is renewable every year and is not a one-time cost."
Today, Monday, the dollar exchange rates witnessed a decline in the local markets.
And the selling prices of the dollar were 146.400 dinars per 100 dollars, while the purchase prices of the dollar were 146.300 dinars per 100 dollars.
*"Parliamentary Actions"
The high cost of living due to high prices, twice what it was before the vote to raise the price of the dollar in 2020, prompted the presence of actual moves by members of the House of Representatives to lift the country’s economy out of the miserable state it reached as a result of the Al-Kazemi government’s decision.
For her part, a member of the House of Representatives, Zahra Al-Bajari, revealed that
parliamentary signatures were collected to include a paragraph to gradually reduce the price of the dollar to protect the Iraqi citizen from the unfair decision of the Al-Kazemi government to raise the price of the dollar. And Al-Bajari indicated, in a statement received by / the information /, that
"the Iraqi parliament is starting to move towards voting on re-exchange of the dollar and gradually reducing the price to protect the consumer and the Iraqi citizen." She pointed out that
"41 parliamentary signatures were collected to issue a parliamentary decision to reduce the price of the dollar."
In turn, the representative of the Al-Fateh Alliance, Suhaila Al-Sultani, confirmed, today, Monday, that
the House of Representatives will host the Governor of the Central Bank and the Minister of Finance in order to reduce the exchange rate of the dollar against the Iraqi dinar. Al-Sultani said in an interview with "Al-Maalouma", that
"the signatures of more than 50 deputies were collected to host the governor of the Central Bank and the Minister of Finance in the new government in order to put pressure on reducing the exchange rate, even if it was in stages or gradually." She added,
"The exchange rate must be reduced due to the difficult standard of living that the Iraqi people are experiencing now and the high rate of poverty," stressing that
"the representatives who signed the exchange rate cut will present a successful financial policy on which global policies are based." And she added,
"All deputies and political blocs are determined to reduce the exchange rate, and the number of deputies who signed will increase in the coming days."
* Economic analysis
For his part, the economic expert, Dia Al-Mohsen, considered restoring the dollar exchange rate at the present time to be useless, and would cause a major economic shock in the Iraqi market.
Al-Mohsen said in an interview with / the information agency, that
"the issue of restoring the dollar exchange rate at the present time is useless, given that
there are no real economic justifications that give importance at the present time," noting that
"the responsibility of the Central Bank is to monitor the market and given that
the Iraqi economy is market and that
The exchange rate of the dollar is controlled by supply and demand and nothing else. He adds,
"The Iraqi government is required to revitalize the economy and important sectors such as agriculture and industry, instead of restoring the exchange rate to what it was, which may cause a major shock that may exceed the shock that occurred in 2021." He points out,
"There is a large abundance of foreign currencies through which the government can revive the Iraqi economy," noting that
"there is a lot of labor that can be put into these projects, which may generate additional revenues."
The caretaker government often prides itself on raising the financial stockpile that arrived by chance, taking advantage of the rise in international oil prices and the weight of the citizen’s priest by raising the exchange rate on him and devaluing the local currency.
The suffering facing the Iraqis does not stop at a certain limit, and it will continue until the coming of the government of “the people’s creation.” Ended / 25 R.
