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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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    Economist: The Iraqi government has no choice but to increase the amount of money

    rocky
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    • Post n°1

    Economist: The Iraqi government has no choice but to increase the amount of money Empty Economist: The Iraqi government has no choice but to increase the amount of money

    Post by rocky Mon 24 May 2021, 7:24 am

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    Baghdad - IQ  
    The economic expert, Abdul Rahman Al-Mashhadani, said, Monday (May 24, 2021) that the Iraqi government has no choice in equating the monetary mass with the population increase, except by increasing the amount of money, indicating that the rate of population increase negatively affects the monetary mass.
    Al-Mashhadani said, in a statement to  IQ NEWS , that "the monetary mass must be consistent with the size of the population and economic activity. Any increase in the monetary mass must be equal to the rate of population increase and the rate of increase in GDP growth," indicating that "the rate of population increase is 2.5% The rate of growth in gross domestic product was negative in the past year, but let's assume that it is 4%, meaning that the monetary mass should not exceed 6% or 7%. "
    Al-Mashhadani pointed out that "twice the government borrowing forced the central bank to issue new cash, which led to an increase in the monetary mass from 64 trillion dinars to 90 trillion dinars, but this rise did not stimulate the Iraqi economy because the government delayed paying salaries in a timely manner, which led to the market's thirst." That "the government has no options but to increase the amount of money."
    He stressed that "all the goals that the government sought to change the exchange rate have not been achieved since the process of currency exit is still abroad, and the national industry is insufficient to secure the market," stressing that "changing the exchange rate has only achieved an increase in the number of the poor in the country to 3 million." .
    The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, warned last Saturday of the risks of raising the cash issuance at the expense of financing and increasing the quantities of the Iraqi currency in the market .
    Saleh said, in a statement to the Iraqi News Agency, that "the quantitative theory in economics confirms the existence of a direct relationship between the quantity of money and prices, and thus the more money the price rises, so the income is assumed to be fixed," warning of "the risks of raising the cash issue at the expense of financing." Because it will lead to inflation. "
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