Home
Adviser to the Prime Minister of Iraq: The current account of the balance of payments is free from deficit
[You must be registered and logged in to see this image.]
Mubasher: Mazhar Muhammad Salih, the financial advisor to the Iraqi Prime Minister, confirmed today, Monday, that Iraq’s monetary policy will maintain the stability of the exchange rate.
The financial advisor to the Iraqi Prime Minister indicated that the current account of the balance of payments is free of deficit, but there is an expectation of achieving a surplus in the future.
Saleh told the Iraqi News Agency (INA), that "the reduction of the national currency against the dollar was based on a one-time decision", and that the country adopts a fixed exchange system, stressing that "there is an equation between the theory of exchange rate adjustment and the deficit in the current account of the balance of payments relative to gross domestic product".
He added, "Whenever the deficit increases by 4% or more, an adjustment or reduction is made in the external value of the currency to avoid a deterioration in external payments," noting that "Iraq currently does not suffer from a current account deficit, but rather there is stability and balance."
And the financial advisor to the Iraqi Prime Minister expected that there would be a surplus in the future relative to the gross domestic product, in light of the positive developments in the oil markets and the positive improvement in Iraq's foreign exchange reserves.
The financial advisor to the Iraqi Prime Minister stressed that "the monetary policy will maintain the stability of the exchange rate in the present circumstance."
On December 20, the Central Bank of Iraq decided to reduce the value of the Iraqi dinar against the dollar, bringing the price of 100 dollars to 145 thousand dinars, after it was 122 thousand Iraqi dinars.
Recommendations
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
Mazhar Muhammad Salih, Financial Adviser to the Prime Minister of Iraq
May 31, 2021 10:17 PMMubasher: Mazhar Muhammad Salih, the financial advisor to the Iraqi Prime Minister, confirmed today, Monday, that Iraq’s monetary policy will maintain the stability of the exchange rate.
The financial advisor to the Iraqi Prime Minister indicated that the current account of the balance of payments is free of deficit, but there is an expectation of achieving a surplus in the future.
Saleh told the Iraqi News Agency (INA), that "the reduction of the national currency against the dollar was based on a one-time decision", and that the country adopts a fixed exchange system, stressing that "there is an equation between the theory of exchange rate adjustment and the deficit in the current account of the balance of payments relative to gross domestic product".
He added, "Whenever the deficit increases by 4% or more, an adjustment or reduction is made in the external value of the currency to avoid a deterioration in external payments," noting that "Iraq currently does not suffer from a current account deficit, but rather there is stability and balance."
And the financial advisor to the Iraqi Prime Minister expected that there would be a surplus in the future relative to the gross domestic product, in light of the positive developments in the oil markets and the positive improvement in Iraq's foreign exchange reserves.
The financial advisor to the Iraqi Prime Minister stressed that "the monetary policy will maintain the stability of the exchange rate in the present circumstance."
On December 20, the Central Bank of Iraq decided to reduce the value of the Iraqi dinar against the dollar, bringing the price of 100 dollars to 145 thousand dinars, after it was 122 thousand Iraqi dinars.
Recommendations
[You must be registered and logged in to see this link.]
» utube 11/18/24 MM&C IQD News Report - Contracts - Projects - Non Oil Revenue Streams - Activating
» MM&C 11/17/24 For the first time in Iraq.. Efforts to establish an "Investment Association" to attr
» utube 11/16/24 MM&C-News Report-Iraq Dinar-Oil-Flow-Global Maritime Trade-Cross Border Transfer-Ex
» Global conflicts move to Iraq.. America and China fight economically in Baghdad
» Al-Sudani: Iraqi openness to comprehensive partnership with Türkiye and developing trade balance
» Accused of negligence, the Parliamentary Energy Committee calls on Al-Sudani to hold the “Baghdad El
» Al-Maliki's coalition notes Al-Sudani's performance in three files
» On charges of forgery... Al-Dulaimi complains about Al-Halbousi before the Integrity Commission
» Al-Karawi: The government mortgaged the port of Faw to companies affiliated with the Zionist entity
» Parliamentary Integrity: We will proceed with the ministerial amendment even if the government delay
» Reopening of applications to the morning private government education channel
» Bitcoin rises after weekly losses
» Al-Maliki Coalition: The government amendment does not exceed three ministerial portfolios
» Parliamentarian: Amending the Election Law is out of the question
» Israel threatens to target infrastructure in Iraq and assassinate "prominent figures"
» Parliamentary regions: Article 140 road is closed
» The Central Bank of Iraq's dollar sales increased
» Al-Alaq reviews to the President of the Republic the Central Bank’s plans to develop the banking sec
» Al-Atwani to the French Embassy delegation: Halting external borrowing indicates an improvement in I
» Parliamentary move against Kar Oil Company: Suspicions of "fake" electricity supply
» Parliamentary Health: Iraq suffers from a large surplus in the number of doctors and pharmacists by
» It causes a loss of one billion dollars per month.. A date has been set for the resumption of Kurdis
» Türkiye blames Iraq: You waste water and do not have good management in rationalizing it
» Iraq rejects “COP29” proposal: We will not get rid of fossil fuels, as they are the basis of our eco
» Bitcoin nears $90,000 after biggest drop since election
» For the first time, Iraq issues the commodity structure of exports and imports
» Procedures for (automating) the work of Baghdad International Airport
» Planning: No cuts to benefits or taxes due to census
» International organizations praise the government's national initiatives
» {Official platform} to combat rumors
» Al-Sudani: The census will be used exclusively to develop development plans
» Justice audits financial movements in its departments
» Al-Imar to {Sabah}: 3 residential cities in Baghdad to be referred soon
» Kurdistan Region of Iraq plans to receive 10 million tourists annually
» Discussion of mineral investment and export mechanisms
» Consensus on the importance of planning in achieving sustainable development
» Corporate Restructuring: Stimulating Economic Growth
» Iraq's commitment to OPEC decisions controls oil prices
» Delete zeros and evaluate the dinar
» Economists: Empowering the private sector requires a legislative system
» Preparations for holding meetings of the Iraqi-Egyptian Committee
» Parliamentary Legal Committee to Nina: Controversial and important laws will be passed in one go in
» Central Agency for Public Mobilization and Statistics to Nina: The census activities are completely
» Turkish Trade Minister to visit Iraq tomorrow, Monday, heading a delegation of businessmen
» Slight decrease in dollar exchange rates in local markets
» Basra Gas Company launches the “Safe Step” program to raise awareness of the dangers of mines and wa
» With high-level governmental and international presence... the activities of the Iraqi Digital Space
» Ministry of Oil: FCC project to produce derivatives to be completed in the middle of next year
» Does America influence the decisions to form the regional government?.. 5 critical months
» Search for remains of the eight-year war postponed until 2025.. Diggers await spring
» US forces reposition in the "Desert Triangle" in western Iraq
» Al-Dahlaki: The general amnesty law is not just an election slogan as the "forgers" want it to be
» Date set for resuming oil exports from Kurdistan via Turkish port of Ceyhan
» 2025 budget between the government and parliament corridors
» Parliamentary Finance: Population census is a criterion for distributing resources and financial all
» Dollar prices in Iraqi markets
» A source reviews the factors that "undermine" the goals.. What is behind the efforts to form the "Ce
» What are the most controversial paragraphs in the general amnesty law? Al-Saadi reveals to Sumaria
» Al-Sudani chairs the fifth session of the Supreme Coordination Committee between the governorates
» A fruitful international-Japanese partnership produces its eighth batch... Celebrating the success o
» The President of the Republic stresses the need to develop a future strategy for financial policy ac
» Tomorrow.. Turkish Trade Minister visits Baghdad to discuss several files
» Rashid and Al-Alaq discuss the future of the Iraqi banking sector
» US Ambassador assures Maliki of her country's support for Iraq's stability
» Parliamentarian addressing the Judicial Council: When will corruption files be resolved?
» Economist: Re-exporting Kurdistan oil will cause Iraq to lose $5 billion and a budget deficit
» Financial Advisor: Good performance of fiscal space reflects government’s ability to increase spendi
» The President of the Republic stresses the need to develop a future strategy for financial policy
» Parliament determines the most important laws it will work on before its legislative break in a few
» Dollar exchange rates against the dinar in Iraqi stock exchanges
» Government correspondence to install 8 thousand electricity meter readers
» utube 11/13/24 MM&C MM&C News-Private Sector- Electronic Payments-Reconstruction-Development-Digit
» utube MM&C 11/15/24 Update-Budget-Non Oil Resources-CBI-USFED-Cross Border Transfers-Oil
» Al-Sudani is besieged by lawsuits over the “wiretapping network”... and Al-Maliki heard “inappropria
» Tens of thousands of foreigners work illegally in Basra... and the departments will bear the respons
» 4 reasons for the Sudanese government’s silence in the face of the factions’ attacks.. Will Baghdad
» PM's advisor: Government able to increase spending without inflation or fiscal deficit
» Prime Minister stresses the need to complete 2024 projects before the end
» Minister of Labor sets date for launching second batch of social protection beneficiaries in the pol
» Al-Sudani approves 35 new service projects, stresses the need to complete 2024 projects
» Minister of Labor: The population census will provide accurate calculations of poor families covered
» Electricity announces its readiness for the winter peak
» Economist: Parallel market remains pivotal to financing Iraq’s trade with Iran, Syria
» Trump: Iraq: A subsidiary or the focus of major deals?
» Counselor Mazhar Saleh: The government is able to increase spending without causing inflation or a f
» Al-Sudani's advisor to "Al-Maalouma": We do not need to bring in foreign workers
» Parliamentary Rejection.. Parliamentarian Talks About Jordanian Agreement That Harms Iraq’s Economy
» Al-Sudani chairs the periodic meeting of the service and engineering effort team
» Al-Sahaf: Washington continues to support terrorist organizations in Iraq
» Al-Maliki Coalition: America is trying to make Iraq hostile to its neighbors by violating its airspa
» Close source: Al-Sudani failed to convince Al-Hakim and Al-Amiri to carry out the ministerial reshuf
» Al-Sayhoud on Postponing Parliament Sessions: Bad Start for Al-Mashhadani
» Peshmerga Minister: The survival of the Kurdistan Region depends on the presence of a strong Peshmer
» Al-Maliki Coalition: US pressures prevent Israel from striking Iraq
» Nechirvan Barzani calls for keeping Peshmerga out of partisan conflicts, urges formation of 'strong
» US Institute: Trump administration may prevent Iraq from importing Iranian gas as part of pressure o
» The meter will visit families again.. Planning details the steps for conducting the population censu
» Government clarification: Is Iraq able to increase spending?