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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Deductions of salaries and "disorder" dollar aggravate recession Iraqi market

    Rocky
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    • Post n°1

    Deductions of salaries and "disorder" dollar aggravate recession Iraqi market Empty Deductions of salaries and "disorder" dollar aggravate recession Iraqi market

    Post by Rocky Sun Dec 18, 2016 3:53 am

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    Deductions of salaries and "disorder" dollar aggravate recession Iraqi market


     Baghdad / peace Zidane 

    Currently dominated by recession on the Iraqi market as a result of the financial policy adopted by the government to cut fiscal spending and withholding of salaries of state employees, making the citizen will regard the future and prefer saving on the purchase process. 


    Said Adel al - Quraishi, owner of a clothing shop in New Baghdad market east of the capital, the "long" that " the recession dominated the market processes of buying and selling I said quite dramatically months ago as a result of political, financial and security situation in the country , " stressing that " the state played a role in the worsening economic situation as a result of anxiety caused to the citizen after the discussions that accompanied the approval of the financial budget bill for next year. " 
    He explained that "state employees began to prefer savings on purchases as a result of the continuing of their salary deductions , " noting that "in the years before the occupation of the organization Daesh for a number of areas , the market's most popular but today the process is completely counterproductive , as the recession dominates the market." 
    Iraq is passing through a severe financial crisis as a result of its dependence on oil , which is mainly down prices in the global market , which is reflected in the actions of the State in the formulation and adoption of the financial budget austerity policy , which has reduced costs to the lowest level and consequently affected the movement of the market. 
    For his part, said Mohammed al - Rubaie, the owner of a laboratory for the sale of frozen meat for the "long" " The demand is very weak on the purchase of frozen meat as a result of anxiety that people are experiencing because of the deteriorating political and security situation , " stressing that "people are starting to fear of buying frozen chicken for fear of disease bird flu , especially after the government prevent poultry imports from Iran. " 
    Rubaie pointed out that "the instability of the dollar in the domestic market led to a rise in commodity prices due to dollar buying by traders , " noting that " the state has not intervened so far to rescue the market so the recession will increase in the coming days." 
    The Iraqi government launched a "funding" project , which aims to get the economy moving through the granting of loans worth six trillion dinars to the agricultural and industrial projects and real estate owners in addition to small and medium enterprises, but so far has not been activated for fear of the operations of financial corruption tainted, while others emphasize that the political parties behind the disabling process to be invested in the next election season cross awarded to citizens for the establishment of projects. 
    In the meantime, the financial expert Maitham Laibi said in his speech for the "long" that " the causes of the recession is the adoption of the state on royalties that will be distributed in the fiscal balance, and when oil prices fell, affected by the current and investment Almoisntin, in addition to the gloomy outlook on oil prices , political, security and air inappropriate, which was reflected in the private sector after a drop in demand for its products. " 
    And coffee and he pointed out that " the deduction of the government of the salaries of state employees also contributed to the increase recession especially that pessimism was dominated by citizens before the deduction process , " stressing that "pessimism lead to a contraction in spending and inclined individuals to the compactness of the lack of confidence in the future." 
    He said the financial expert that " the Central Bank initiative to support agriculture, industry, housing and real estate sectors worth six trillion dinars could contribute to moving the market and increased demand for goods, especially if the bank had managed to distribute these funds effectively , because this process is marred by foot - dragging , " referring to that "if the government was able to distribute these amounts over the annual average, the market can move in this term." 
    Mustafa Rahim while looking out a loan to finance his business from private banks but all ended in failure as a result of his attempts to stop it . He spoke merciful "long": I tried repeatedly to get a loan to finance the commercial draft , which serves the country 's economy and reduce the indiscriminate import but all my attempts failed to close the door in front of me by the banks , "and felt that" the political parties striving to postpone the launch of commercial loans in order to invest in the next election season. "

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