[size=36]A parliamentary bloc calls for the return of the dollar: the justifications for raising it are unrealistic[/size]
Political| 11:08 - 22/03/2021
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
BAGHDAD - Mawazine News
The National Approach bloc demanded, on Monday, to restore the exchange rate of the dollar to what it was in order to avoid widespread economic damage to Iraqis.
The head of the bloc, Ammar Tohme, said in a statement that Mawazine News received a copy of, that "the most important justifications promoted by those who are enthusiastic to raise the exchange rate of the dollar are to cover the budget deficit, and to revitalize the national industry and its competition with the imported product, and both justifications are unrealistic and do not stand up to scientific facts." .
Tohme added, "The justification for covering the deficit in the budget arose in the thinking of those calling for an increase in the exchange rate at the time of preparing the principles and foundations of the budget more than four months ago when the price of oil sale did not exceed (40) dollars per barrel, while the price of oil increased in the past months in a manner. Clear, up to about (68) dollars per barrel. "
He explained, "Estimates of the difference resulting from the increase in the exchange rate for a whole year as revenues that do not exceed (8) trillion dinars at the highest rate, while the difference in the increase in the price of oil sale from what is proven in the draft budget for the month of January is only (1.5) trillion dinars, and for a month. February The difference in the price of oil increases (2.5) trillion dinars, in other words that the additional revenues obtained from the increase in the selling price of oil during the first two months of the year 2021 amount to approximately (4) trillion dinars, which is equal to half of what is collected in a full year of raising the price Dollar exchange. "
He continued: "This resource alone completely ends the first justification that they put forward to raise the exchange rate of the dinar, not to mention other resources, if they are met seriously and efficiently, they will save more than those sums as is the case in the revenues of the outlets from all governorates of Iraq, including the region, and the revenues of mobile phone licenses. And reducing the costs of the federal oil licensing rounds concluded by the region with foreign companies, contrary to the constitution, applicable laws, and other revenues. "
He stressed, "The justification for revitalizing the national industry, which they cited as another caller to raise the price of the dollar, is opposed by many facts, including:
A- The government exempted hundreds of imported materials from customs duties through the agreement with Jordan, and how this procedure is consistent with supporting the industry and the national product, it is known that imposing customs duties on the foreign importer makes its price much higher than the price of the national product, and then the consumer demand increases The local product is more likely to be acquired by the higher priced imported product.
B - Doubling the customs duties on the imported product similar to the national product is another procedure that stimulates and stimulates the national industry on the one hand, and increases the non-oil revenues collected from the increase in those customs duties.
C- The abolition of the import of the imported product that has a similar national product available has an appropriate measure to stimulate the national industry, and it does not leave the import of what is similar to the national product freely and without restrictions, so does that achieve support for the national industrial product ?!
D- Many of the raw materials on which the national industry depends are intended to be promoted by raising the exchange rate of the dollar !! They are imported from abroad, and this means that the cost of making the national product will double and the price of selling it will increase to the citizen in comparison to the price of the imported product, and then the consumer will choose to buy the cheaper product, and he may often be the importer according to this defective equation.
E - The import of production lines, equipment and machinery is also from abroad, and as a result of raising the price of the dollar, the prices of purchasing these equipment will rise. As is known, the elements of product value formation are included in the costs of production equipment and lines.
F - Failure of the federal government to control all ports of the country and its failure to submit to a unified trade and economic policy, procedures and management will dispel any efforts to support the national product in exchange for the imported product.
G- The absence or incompleteness of the industrial infrastructure before the decision to raise the exchange rate is similar to the one who provides the cart before the horse if the description is correct and contradicts the nature of the things that are required to prepare the basic premises of the project before starting its superstructures !!
The National Approach bloc demanded, on Monday, to restore the exchange rate of the dollar to what it was in order to avoid widespread economic damage to Iraqis.
The head of the bloc, Ammar Tohme, said in a statement that Mawazine News received a copy of, that "the most important justifications promoted by those who are enthusiastic to raise the exchange rate of the dollar are to cover the budget deficit, and to revitalize the national industry and its competition with the imported product, and both justifications are unrealistic and do not stand up to scientific facts." .
Tohme added, "The justification for covering the deficit in the budget arose in the thinking of those calling for an increase in the exchange rate at the time of preparing the principles and foundations of the budget more than four months ago when the price of oil sale did not exceed (40) dollars per barrel, while the price of oil increased in the past months in a manner. Clear, up to about (68) dollars per barrel. "
He explained, "Estimates of the difference resulting from the increase in the exchange rate for a whole year as revenues that do not exceed (8) trillion dinars at the highest rate, while the difference in the increase in the price of oil sale from what is proven in the draft budget for the month of January is only (1.5) trillion dinars, and for a month. February The difference in the price of oil increases (2.5) trillion dinars, in other words that the additional revenues obtained from the increase in the selling price of oil during the first two months of the year 2021 amount to approximately (4) trillion dinars, which is equal to half of what is collected in a full year of raising the price Dollar exchange. "
He continued: "This resource alone completely ends the first justification that they put forward to raise the exchange rate of the dinar, not to mention other resources, if they are met seriously and efficiently, they will save more than those sums as is the case in the revenues of the outlets from all governorates of Iraq, including the region, and the revenues of mobile phone licenses. And reducing the costs of the federal oil licensing rounds concluded by the region with foreign companies, contrary to the constitution, applicable laws, and other revenues. "
He stressed, "The justification for revitalizing the national industry, which they cited as another caller to raise the price of the dollar, is opposed by many facts, including:
A- The government exempted hundreds of imported materials from customs duties through the agreement with Jordan, and how this procedure is consistent with supporting the industry and the national product, it is known that imposing customs duties on the foreign importer makes its price much higher than the price of the national product, and then the consumer demand increases The local product is more likely to be acquired by the higher priced imported product.
B - Doubling the customs duties on the imported product similar to the national product is another procedure that stimulates and stimulates the national industry on the one hand, and increases the non-oil revenues collected from the increase in those customs duties.
C- The abolition of the import of the imported product that has a similar national product available has an appropriate measure to stimulate the national industry, and it does not leave the import of what is similar to the national product freely and without restrictions, so does that achieve support for the national industrial product ?!
D- Many of the raw materials on which the national industry depends are intended to be promoted by raising the exchange rate of the dollar !! They are imported from abroad, and this means that the cost of making the national product will double and the price of selling it will increase to the citizen in comparison to the price of the imported product, and then the consumer will choose to buy the cheaper product, and he may often be the importer according to this defective equation.
E - The import of production lines, equipment and machinery is also from abroad, and as a result of raising the price of the dollar, the prices of purchasing these equipment will rise. As is known, the elements of product value formation are included in the costs of production equipment and lines.
F - Failure of the federal government to control all ports of the country and its failure to submit to a unified trade and economic policy, procedures and management will dispel any efforts to support the national product in exchange for the imported product.
G- The absence or incompleteness of the industrial infrastructure before the decision to raise the exchange rate is similar to the one who provides the cart before the horse if the description is correct and contradicts the nature of the things that are required to prepare the basic premises of the project before starting its superstructures !!
[You must be registered and logged in to see this link.]
Today at 9:52 by Rocky
» utube 3/28/24 MM&C Iraqi Dinar - IQD Update - SWIFT - Purchasing Power - Urban Renaissance - Releas
Today at 9:51 by Rocky
» Al-Mandalawi: Iraq is witnessing competition between major companies...and the House of Representati
Today at 9:49 by Rocky
» The President of the Republic stresses the importance of the role of programmers in developing the w
Today at 9:46 by Rocky
» The Minister of Industry and Minerals follows up on the technical and production performance of the
Today at 9:45 by Rocky
» The Minister of Finance is following up on the field the progress of the newly implemented ASYCUDA s
Today at 9:44 by Rocky
» Statistics: There are more than 15 million bank accounts in Iraq
Today at 9:42 by Rocky
» Representative: One paragraph hinders the passage of a general amnesty within the House of Represent
Today at 9:37 by Rocky
» Parliamentary Finance: “The draft federal budget law will be devoid of new job grades.”
Today at 9:36 by Rocky
» Parliamentary action to resolve the fate of “food security contracts” in 15 governorates
Today at 9:35 by Rocky
» 300 factories turned into "iron scrap" in Diyala
Today at 9:34 by Rocky
» A deputy expects the dollar exchange rate to reach 140 Iraqi dinars
Today at 9:32 by Rocky
» Al-Yasiri: The American administration is working hard to destroy the Iraqi economy
Today at 9:31 by Rocky
» Infographic: The highest annual salaries of leaders of Arab countries
Today at 9:30 by Rocky
» Communications announces that the electronic signature project has reached advanced stages
Today at 9:29 by Rocky
» Parliamentary Integrity presents a file related to Kuwaiti violations of Iraqi oil
Today at 9:27 by Rocky
» Parliamentary move to include amendments to Parliament’s internal regulations on the agenda (documen
Today at 9:25 by Rocky
» The Iraqi President urges the Minister of Finance to expedite the payment of salaries to the Kurdist
Today at 9:23 by Rocky
» Central Bank of Iraq sales exceeded $251 million at today’s auction
Today at 9:21 by Rocky
» The Foreign Minister questions the "Iraqi resistance" attacks against Israel: the other side did not
Today at 9:20 by Rocky
» The Minister of Labor announces progress in the electronic payment system
Today at 9:17 by Rocky
» Interior Ministry: For the first time, we controlled the smuggling of petroleum derivatives by 98 pe
Today at 9:16 by Rocky
» International companies offer offers to invest in the Dhi Qar marshes.. What distinguishes them?
Today at 9:15 by Rocky
» “Tough” comments on interest rates raise the dollar globally
Today at 9:14 by Rocky
» Iraq is the fifth largest oil supplier to South Korea in a month
Today at 9:12 by Rocky
» Recovering more than 100 billion as a result of more than 200,000 employees on social welfare
Today at 9:11 by Rocky
» The Sudanese consultant announces the completion of Baghdad Metro track designs
Today at 9:08 by Rocky
» Al-Sudani stresses ending the problem of triple-shift schools
Today at 9:07 by Rocky
» Iraq begins building two new tankers to transport petroleum products
Today at 9:06 by Rocky
» Forming a council for “competition and preventing monopoly”
Today at 9:04 by Rocky
» Features of an Iraqi-Turkish agreement regarding the status of the Kurdistan Workers’ Party
Today at 9:02 by Rocky
» {Al-Buzrajiya} between the hammer of fraud and the power of the owners
Today at 9:01 by Rocky
» Ministry of Oil: The gas sector is witnessing great development
Today at 8:59 by Rocky
» An agreement with Britain in the field of securities
Today at 8:58 by Rocky
» Discussions between Baghdad and Ankara to open a new port
Today at 8:57 by Rocky
» Trade: About 11 million citizens updated their new card information
Today at 8:56 by Rocky
» Electronic payment is sustainable growth
Today at 8:55 by Rocky
» Experts: Iraq qualifies to be an important tourist country
Today at 8:54 by Rocky
» Amending the Health Professions Law “robs” scientists of the central appointment 3 years after it wa
Today at 7:20 by Rocky
» Is the “blessings package” that Erbil paid to the citizens of Kurdistan related to the elections?
Today at 7:19 by Rocky
» Exceeded 5,000 projects.. Allocating 10 trillion dinars to support governorate reconstruction plans
Today at 7:18 by Rocky
» “His need no longer exists.” Parliamentary Finance confirms the necessity of returning the retiremen
Today at 7:17 by Rocky
» To communicate with the bases... 12 directives from Al-Sadr, including blocking numbers for non-gove
Today at 7:15 by Rocky
» In an interview with "Baghdad Today"... an Iranian researcher reveals the importance of Haniyeh's vi
Today at 7:14 by Rocky
» After it was 63 trillion in 2023... the 2024 budget deficit will rise to 80 trillion dinars
Today at 7:13 by Rocky
» Parliament reveals the date of the first evaluation of the governors and determines the party respon
Today at 7:11 by Rocky
» The President of the Republic informs Al-Araji and Al-Basri: Momentum must be mobilized to eliminate
Today at 7:10 by Rocky
» Can the Federal Court sue others? A legal clarification of its response mechanism to abuse
Today at 7:09 by Rocky
» Despite promises to soon stop burning gas.. What is the secret behind Iraq renewing the Iranian gas
Today at 7:07 by Rocky
» Advisor to Al-Sudani: The dollar is on the way to further decline, and 70% of Iraqi traders have ent
Today at 7:06 by Rocky
» Iraq exported more than 99 million barrels of oil last February
Today at 7:04 by Rocky
» Barzani “gives good news” to Kurdistan employees: salaries, land, and loan exemptions
Today at 7:03 by Rocky
» Alia Nassif: Nour Zuhair returned to the port of Umm Qasr to make deals.. An influential Shiite forc
Today at 7:02 by Rocky
» The Prime Minister announces the movement of nearly 500 stalled projects
Today at 7:00 by Rocky
» A government strategy to enhance investments.. Iraq is on the verge of a new era of economic develop
Today at 6:59 by Rocky
» Ranging between 20% and 50%.. The Kurdistan government decides to reduce service fees, customs dutie
Today at 6:58 by Rocky
» Al-Sudani: The reform approach in the security services is an integral part of reform in other secto
Today at 6:56 by Rocky
» Everyone in Iraq wants the Sudanese visit to Washington to be successful, even the factions!
Today at 6:55 by Rocky
» Sources and experts expect the agenda.. in his bag is the Baghdad dollar and the factions’ truce, bu
Today at 6:54 by Rocky
» The decision to raise gasoline prices arouses the ire of drivers...a reminder of the large demonstra
Today at 6:53 by Rocky
» Parliamentary services: 3 important hospitals in Baghdad will enter service at the end of the year
Today at 6:52 by Rocky
» Iraq signs a contract to supply Iranian gas for a period of five years
Today at 6:50 by Rocky
» Parliament adds a voting paragraph on amending the Penal Code to its agenda
Today at 6:49 by Rocky
» His political advisor: We are not afraid of Sudanese entering the elections alone
Today at 6:48 by Rocky
» Parliamentary services explain the reasons for the rise in real estate prices in Baghdad
Today at 6:46 by Rocky
» Attia, criticizing the government's decisions: "The citizen's feathers will be ruffled without servi
Today at 6:45 by Rocky
» Parliamentary Communications: Zain Iraq and Asiacell did not pay their debts
Today at 6:44 by Rocky
» The Governor of Karbala announces the imminent establishment of the largest industrial city in the c
Today at 6:43 by Rocky
» A government determination to end the issue of displaced persons in the middle of this year
Today at 6:42 by Rocky
» Iraq buys gas from Kurdistan to generate electricity
Today at 6:41 by Rocky
» Parliamentary signatures to include an amendment to the internal regulations to decide the choice of
Today at 6:40 by Rocky
» In Basra.. a demonstration against foreign workers in Iraqi companies (video)
Today at 6:38 by Rocky
» Al-Samarrai: Presidency of Parliament is an entitlement to the constituents, and calling it a “frame
Today at 6:36 by Rocky
» Electronic food supplies in 6 governorates... covering 11 million Iraqis and “writing off” about 700
Today at 6:34 by Rocky
» Corruption of the Ministry of Transport.. Representatives express their surprise at the minister’s s
Today at 6:32 by Rocky
» The biggest supporter of the invasion of Iraq.. The death of former US Senator Joe Lieberman
Today at 6:31 by Rocky
» Iraq is ranked “late.” A list of the most and least safe Arab countries for women
Today at 6:30 by Rocky
» The Council of Ministers exempts the Gulf Interconnection Authority from guarantee fees: it is a gov
Yesterday at 9:48 by Rocky
» The Iraqi government raises the size of the 2024 budget, and Parliament is “surprised”
Yesterday at 9:46 by Rocky
» Popular Movement: We have many economic options away from American hegemony
Yesterday at 9:42 by Rocky
» The Oil Parliament stresses the need to transfer part of the revenues to the producing governorates
Yesterday at 9:41 by Rocky
» It will cover 14 regions in eastern Iraq.. A deputy reveals the “border electricity” project
Yesterday at 9:40 by Rocky
» Experts Warn Mass Migration Threatens US Food Security
Yesterday at 9:37 by Bama Diva
» Al-Fateh: America occupies Iraq through agreements
Yesterday at 9:37 by Rocky
» Anger in Iraq over a "sudden decision"... and a reminder of a "general strike" that paralyzed the co
Yesterday at 9:34 by Rocky
» Parliamentary Committee: Parliament is discussing today a decision that “disturbed” the Iraqis
Yesterday at 9:33 by Rocky
» Ministry of Electricity: Our production will reach 27 thousand megawatts by May
Yesterday at 9:31 by Rocky
» Diagnosing the “most important” problems in the oil file between Baghdad and Erbil.. What is the rel
Yesterday at 9:30 by Rocky
» The Iraqi Fiqh Academy and the Sunni Endowment issue a fatwa to pay Zakat al-Fitr
Yesterday at 9:28 by Rocky
» The National Bank of Iraq continues its digital transformation by launching its new banking system a
Yesterday at 9:26 by Rocky
» Parliamentary Investment and the Central Bank are discussing the housing initiative
Yesterday at 9:25 by Rocky
» The Prime Minister announces the restart of 500 suspended projects
Yesterday at 9:23 by Rocky
» Al-Barti assesses the region's employees: Your salaries are insured and will be paid after resettlem
Yesterday at 9:21 by Rocky
» Iraqi-American discussions in anticipation of the Sudanese visit
Yesterday at 9:20 by Rocky
» Iraq and Turkey hold meetings in Ankara to discuss technical issues related to the development road
Yesterday at 9:17 by Rocky
» A government parliamentary agreement to support budget revenues and governorate allocations for inve
Yesterday at 9:16 by Rocky
» Oil: The gas sector is witnessing great development
Yesterday at 9:15 by Rocky
» A Kurdish-French agreement to develop trade and economic relations
Yesterday at 9:13 by Rocky
» Exchange companies in Mosul demand that they be entered into the currency selling window
Yesterday at 9:12 by Rocky