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The Iraqi market enters a recession stage
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Added 08/28/2022 - 11:01 AM
Update 08/28/2022 - 12:38 PM
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vegetable market
vegetable market
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Economy News - Baghdad
The Iraqi market entered a stagnation phase as a result of the political developments taking place in Baghdad, which led to the storming of Parliament by supporters of the Sadrist movement, in addition to threats of civil disobedience in the southern provinces.
The trader, Muhammad Karim, told Al-Iqtisad News, "The market is in a stagnation stage now, and political developments have negatively affected it," adding that "buying and selling is only for basic needs."
He stressed that "political statements, regarding the lack of salaries for the next year, made the employees not shrink in spending, for fear of the unknown."
He pointed out that some retail stores in residential areas have closed their doors, and this puts pressure on the economy and increases the rate of unemployment and poverty.
On the other hand, Hamid Salem, the owner of a real estate office, told "Al-Iqtisad News" that the real estate market is witnessing a stagnation, as a result of the lack of clarity in the future, adding that the demand for real estate has witnessed a significant decrease due to the political situation.
He pointed out that the citizen who wants to sell his property quickly, reduces the price by 10%, and this will contribute to reducing the price in the coming period.
Yesterday, Parliament Speaker Muhammad Al-Halbousi talked about the existence of an 80 trillion surplus of oil sales in the Ministry of Finance, and the government is unable to spend it due to the absence of a budget law.
54 . views
Added 08/28/2022 - 11:01 AM
Update 08/28/2022 - 12:38 PM
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