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Visual proposes mechanisms quick to raise the value of the Iraqi dinar
Iraq Business Directory - 05/22/2013 - 7:48 pm
Visual proposes mechanisms quick to raise the value of the Iraqi dinar
Exchange rate fluctuations accounted for expert attention
Select
an economist many reasons behind the fluctuations in the value of the
Iraqi currency and economic imbalances structural considering that the
exchange rate holds an pivotal role in monetary policy in terms of its
use as a target or a tool and as an indicator of the competitiveness of
the state through its effect on the components of economic growth, such
as investment and the degree of openness to international trade and
capital flows and the evolution of the financial sector.
The parallel market
He
d. Kamal Al-Basri's "morning" that the increased demand for foreign
currencies and the weakness of the business environment of economic and
fiscal policy and weak productive capacities of local and growing
presence remittance companies and financial brokerage firms (parallel
market) and the emergence of areas of trade at border crossing points
all of which led to volatility in the Iraqi currency. noted that the
Iraqi currency optical recovering derived from the content of the
economy and it can not be to stabilize the value of the currency away
from economic reality.
GDP
And Asharalbbar to that
the reality of the Iraqi economy suffers from a weakness in the
effervescence basic Through meditate in the components of GDP for the
year 2011 we will see that different sectors are for GDP oil, 54.74
percent and agriculture 4.15 percent and the industry is about 1.83
percent, noting that the Iraqi economy depends on the oil sector, saying
that the problem when oil revenues are much bigger than the financial
returns obtained from taxes reasoned that finding a state asset
financially significant disposal easy gain (not achieved at the expense
of the financial resources of citizens), noting that all of this will
result in economic policies sterile represented an increase of salaries
and wages away from labor productivity accounts and the creation of
employment for non-productive purposes useful that all this will result
in inflation Balasarklah on policy support is an updated economic
distortion in the structure of the economy.
Uneconomic spending
He
also will result in spending policies represented by non-economic
activities have no justification and كالمنح economic aid and open the
external circuits and cultural diplomacy does not add real value to the
economy for the citizens and not be at the expense of pressing economic
areas relating to the lives of citizens.
He attributed the optical
reasons behind the fact that the private sector in developing countries,
marginal and weak it to ايتمتع support as is the case in the public
sector, but rather concentrated support in the areas of economic
commercial and service noting that the absence of the real role of the
private sector means the absence of creativity and speed adjustment with
market needs and provide employment outside part of the public sector,
pointing out that the uniqueness of the public sector production and the
absence of his rival for the private sector will inevitably lead to the
continued deterioration of the efficiency of the production of the
public sector, he said.
Government intervention
He
pointed out that this matter requires government intervention and
protection of the public sector through financial support and customs
protection policy (currently support the annual $ 3 billion). Thus, the
government is working to protect the institutions of productivity inert
at the expense of the citizen who finds unchanged compelled to buy goods
or services at a higher price and the quality is poor useful that this
sacrifice is usually also emphasizes global experiences to not lead in
the short term and not run into improved performance and efficiency of
the production of the public sector.
Central action
He
optic that exchange rate Atatheraola measures the central bank, which
represents management major in the state to identify and manage monetary
policy so as to contribute to the achievement of economic goals that
are looking her state, and secondly commercial banks and remittance
companies financial terms intervene in the market to execute the orders
of their clients or for its own account, where you These centers collect
orders customers and they Palmqasat banking, and thirdly brokerage
firms are intermediaries militants who collects orders purchase or sale
of hard currency for the benefit of several banks or dealers others away
from transparency. drew visual to it, and over the past few months,
decreased the value of the Iraqi dinar against foreign currencies until
he was sometimes the market parallel 1300 dinars per dollar, after it
was stable on the rate of 1185 dinars per dollar, despite the stability
of the selling price of the Central Bank's 1166 dinars with a commission
of 13 dinars of remittances any 1179 dinars and 1171 dinars to the sale
of cash and this indicates to the high demand for dollar in the
domestic market.
External factors
He attributed this
to several factors in the forefront of external factors which formed
the political and economic crises in neighboring countries (Syria and
Iran) and embodied in need of these countries to the dollar coin and
foreign currency, which he got a drop of the local currency in those
countries and reflected down the price of exports to Iraq, and the
creation of windows to attract the dollar from Iraq to those countries
during trading attractive to the Iraqis and the same time a source of
hard currency to the Iranians and the Syrians. On the other hand there
is interdependence of social and family with these countries may also be
an outlet for the exit of the dollar but it is difficult predict
Bmekdarh.
Investors retreat
The other factor is
the business environment, represented by economic factors, which result
lead to a flight of domestic capital and the decline of foreign
investors, including political instability and the absence of the rule
of law in economic transactions. There is no doubt that the time period
that followed the 2008 has seen an improvement in the security situation
and then in the rate of inflation and the exchange rate. However, the
economic environment is still repulsive acts do not encourage project
planning medium-or long-term. Which led to limiting activities to some
businessmen and commercial projects yielding quick profit, but is no
doubt that the proportion of it turning to other countries suffering
from scarcity of liquidity implications of the impact of the financial
crisis that began in late 2008.
Fiscal policy
In
addition to other factors, including fiscal policy, where previous years
have seen high levels of government spending at a greater rate than any
other country in the world (public spending rose from 34.6 trillion
dinars in 2004 to 117.1 trillion dinars in 2012) and most Pictures
Consumer spending is leading to the rise spending outside world, as well
as led to a rise in net Iraqi currency traded amounting to 36 trillion
dinars in 2013, bringing the demand for foreign currency, where the
value of imports of Iraqi 37.3027 billion dollars in 2010 to 40.6325
billion dollars in 2011 at a rate of change stood at 8.9 percent. as
well as the weakness of tax policies and lack of political and economic
stability and the weakness of the local productive capacities.
Cancel Profit
For
the purpose of finding a solution to the fluctuation in the value of
the Iraqi currency sees visual need to reduce pumping hard currency
(cash sales) in the central bank auction and the adoption of increased
foreign remittances and increase the price of cash sales at the central
bank auction for the equivalent selling price in the auction of foreign
remittances in order to cancel the profit realized because of the
difference between the two rates ..
The proposed mechanism of
buying and selling foreign currency for remittance companies and
financial companies to mediate done by banks licensed in Iraq in order
to reduce transaction is eligible and procedures adopted and compel
traders and dealers in the areas of trade exchange between Iraq and
neighboring countries to deal transfer financial and letters of
guarantee, rather than buying cash.
In addition to the commitment
to a transparent auction information and cash transfers and development
of an electronic information system.
Reduce inflation
He
called visual in his speech to the need to adopt radical solutions to
long-term by reviewing the financial policy of the state and reduce
inflation in spending, operational and need to speed up plans for
banking reform in order to facilitate the procedures for exchange the
cash and improve the tax code and work to expand horizontally while
reducing tax evasion.
Deletion of zeros
He also
called for activating the law of customs tariff because of its important
role in providing incentives for producers with feature economic,
leading to a reduction in the volume of imports as well as improved
revenue workforce and improve the business environment, the economic
order to raise the efficiency of production for companies and
institutions of local productive that will reduce imports and increase
intake of foreign exchange through export, as well as to attract foreign
investment and the use of modern electronic mechanisms in the
distribution of salaries and the use of bank instruments and encourage
saving.
He pointed to the possibility that be to issue a new
currency or deletion of zeros from the current currency positive
psychological effects on the local currency dealers.
[You must be registered and logged in to see this link.]
Iraq Business Directory - 05/22/2013 - 7:48 pm
Visual proposes mechanisms quick to raise the value of the Iraqi dinar
Exchange rate fluctuations accounted for expert attention
Select
an economist many reasons behind the fluctuations in the value of the
Iraqi currency and economic imbalances structural considering that the
exchange rate holds an pivotal role in monetary policy in terms of its
use as a target or a tool and as an indicator of the competitiveness of
the state through its effect on the components of economic growth, such
as investment and the degree of openness to international trade and
capital flows and the evolution of the financial sector.
The parallel market
He
d. Kamal Al-Basri's "morning" that the increased demand for foreign
currencies and the weakness of the business environment of economic and
fiscal policy and weak productive capacities of local and growing
presence remittance companies and financial brokerage firms (parallel
market) and the emergence of areas of trade at border crossing points
all of which led to volatility in the Iraqi currency. noted that the
Iraqi currency optical recovering derived from the content of the
economy and it can not be to stabilize the value of the currency away
from economic reality.
GDP
And Asharalbbar to that
the reality of the Iraqi economy suffers from a weakness in the
effervescence basic Through meditate in the components of GDP for the
year 2011 we will see that different sectors are for GDP oil, 54.74
percent and agriculture 4.15 percent and the industry is about 1.83
percent, noting that the Iraqi economy depends on the oil sector, saying
that the problem when oil revenues are much bigger than the financial
returns obtained from taxes reasoned that finding a state asset
financially significant disposal easy gain (not achieved at the expense
of the financial resources of citizens), noting that all of this will
result in economic policies sterile represented an increase of salaries
and wages away from labor productivity accounts and the creation of
employment for non-productive purposes useful that all this will result
in inflation Balasarklah on policy support is an updated economic
distortion in the structure of the economy.
Uneconomic spending
He
also will result in spending policies represented by non-economic
activities have no justification and كالمنح economic aid and open the
external circuits and cultural diplomacy does not add real value to the
economy for the citizens and not be at the expense of pressing economic
areas relating to the lives of citizens.
He attributed the optical
reasons behind the fact that the private sector in developing countries,
marginal and weak it to ايتمتع support as is the case in the public
sector, but rather concentrated support in the areas of economic
commercial and service noting that the absence of the real role of the
private sector means the absence of creativity and speed adjustment with
market needs and provide employment outside part of the public sector,
pointing out that the uniqueness of the public sector production and the
absence of his rival for the private sector will inevitably lead to the
continued deterioration of the efficiency of the production of the
public sector, he said.
Government intervention
He
pointed out that this matter requires government intervention and
protection of the public sector through financial support and customs
protection policy (currently support the annual $ 3 billion). Thus, the
government is working to protect the institutions of productivity inert
at the expense of the citizen who finds unchanged compelled to buy goods
or services at a higher price and the quality is poor useful that this
sacrifice is usually also emphasizes global experiences to not lead in
the short term and not run into improved performance and efficiency of
the production of the public sector.
Central action
He
optic that exchange rate Atatheraola measures the central bank, which
represents management major in the state to identify and manage monetary
policy so as to contribute to the achievement of economic goals that
are looking her state, and secondly commercial banks and remittance
companies financial terms intervene in the market to execute the orders
of their clients or for its own account, where you These centers collect
orders customers and they Palmqasat banking, and thirdly brokerage
firms are intermediaries militants who collects orders purchase or sale
of hard currency for the benefit of several banks or dealers others away
from transparency. drew visual to it, and over the past few months,
decreased the value of the Iraqi dinar against foreign currencies until
he was sometimes the market parallel 1300 dinars per dollar, after it
was stable on the rate of 1185 dinars per dollar, despite the stability
of the selling price of the Central Bank's 1166 dinars with a commission
of 13 dinars of remittances any 1179 dinars and 1171 dinars to the sale
of cash and this indicates to the high demand for dollar in the
domestic market.
External factors
He attributed this
to several factors in the forefront of external factors which formed
the political and economic crises in neighboring countries (Syria and
Iran) and embodied in need of these countries to the dollar coin and
foreign currency, which he got a drop of the local currency in those
countries and reflected down the price of exports to Iraq, and the
creation of windows to attract the dollar from Iraq to those countries
during trading attractive to the Iraqis and the same time a source of
hard currency to the Iranians and the Syrians. On the other hand there
is interdependence of social and family with these countries may also be
an outlet for the exit of the dollar but it is difficult predict
Bmekdarh.
Investors retreat
The other factor is
the business environment, represented by economic factors, which result
lead to a flight of domestic capital and the decline of foreign
investors, including political instability and the absence of the rule
of law in economic transactions. There is no doubt that the time period
that followed the 2008 has seen an improvement in the security situation
and then in the rate of inflation and the exchange rate. However, the
economic environment is still repulsive acts do not encourage project
planning medium-or long-term. Which led to limiting activities to some
businessmen and commercial projects yielding quick profit, but is no
doubt that the proportion of it turning to other countries suffering
from scarcity of liquidity implications of the impact of the financial
crisis that began in late 2008.
Fiscal policy
In
addition to other factors, including fiscal policy, where previous years
have seen high levels of government spending at a greater rate than any
other country in the world (public spending rose from 34.6 trillion
dinars in 2004 to 117.1 trillion dinars in 2012) and most Pictures
Consumer spending is leading to the rise spending outside world, as well
as led to a rise in net Iraqi currency traded amounting to 36 trillion
dinars in 2013, bringing the demand for foreign currency, where the
value of imports of Iraqi 37.3027 billion dollars in 2010 to 40.6325
billion dollars in 2011 at a rate of change stood at 8.9 percent. as
well as the weakness of tax policies and lack of political and economic
stability and the weakness of the local productive capacities.
Cancel Profit
For
the purpose of finding a solution to the fluctuation in the value of
the Iraqi currency sees visual need to reduce pumping hard currency
(cash sales) in the central bank auction and the adoption of increased
foreign remittances and increase the price of cash sales at the central
bank auction for the equivalent selling price in the auction of foreign
remittances in order to cancel the profit realized because of the
difference between the two rates ..
The proposed mechanism of
buying and selling foreign currency for remittance companies and
financial companies to mediate done by banks licensed in Iraq in order
to reduce transaction is eligible and procedures adopted and compel
traders and dealers in the areas of trade exchange between Iraq and
neighboring countries to deal transfer financial and letters of
guarantee, rather than buying cash.
In addition to the commitment
to a transparent auction information and cash transfers and development
of an electronic information system.
Reduce inflation
He
called visual in his speech to the need to adopt radical solutions to
long-term by reviewing the financial policy of the state and reduce
inflation in spending, operational and need to speed up plans for
banking reform in order to facilitate the procedures for exchange the
cash and improve the tax code and work to expand horizontally while
reducing tax evasion.
Deletion of zeros
He also
called for activating the law of customs tariff because of its important
role in providing incentives for producers with feature economic,
leading to a reduction in the volume of imports as well as improved
revenue workforce and improve the business environment, the economic
order to raise the efficiency of production for companies and
institutions of local productive that will reduce imports and increase
intake of foreign exchange through export, as well as to attract foreign
investment and the use of modern electronic mechanisms in the
distribution of salaries and the use of bank instruments and encourage
saving.
He pointed to the possibility that be to issue a new
currency or deletion of zeros from the current currency positive
psychological effects on the local currency dealers.
[You must be registered and logged in to see this link.]
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