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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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Parliamentary Finance: Raising the dollar saved 22 trillion dinars and closed the salary deficit

rocky
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Finance - Parliamentary Finance: Raising the dollar saved 22 trillion dinars and closed the salary deficit Empty Parliamentary Finance: Raising the dollar saved 22 trillion dinars and closed the salary deficit

Post by rocky Wed 30 Jun 2021, 6:52 am

[size=52]Parliamentary Finance: Raising the dollar saved 22 trillion dinars and closed the salary deficit[/size]

[size=45]Baghdad/ Firas Adnan[/size]
[size=45]Yesterday, Tuesday, the Parliament’s Finance Committee denied the existence of fears of the collapse of the Iraqi economy, noting that raising the dollar contributed to saving 22 trillion dinars.[/size]
[size=45]While she reported that the government had achieved positives from this decision, she talked about damages to the citizen, most notably the reduction in the purchasing value of salaries by 22%.[/size]
[size=45]Member of the Committee, Representative Jamal Cougar, said, in a statement to (Al-Mada), that "the statements made by some MPs regarding the possibility of the Iraqi economy collapsing because of the dollar are inaccurate."[/size]
[size=45]Cougar added, "Iraq is a country rich in its oil resources, and the price of a barrel earlier reached $20, and the economy did not collapse."[/size]
[size=45]He pointed out that "one case makes us face the collapse of the economy, which is the collapse of the political process, since the issue will be related to the state's facilities and its entire sectors."[/size]
[size=45]And Cougar said, "Iraq is witnessing on the economic side a recovery through an increase in bank reserves and an increase in oil prices, with government efforts to fight corruption."[/size]
[size=45]He noted, "Current indicators confirm that Iraq is going for the better, and it is not correct to say that we are going to collapse."[/size]
[size=45]Cougar refused, "to hold Parliament responsible for changing the dollar exchange rate, as a decision that contributed to raising the prices of the Iraqi market."[/size]
[size=45]And he stated, "The issue was taken based on the directions of the Central Bank, and the political blocs were briefed on the repercussions of the economic situation at the time, from the possibility of repeating the scenario of last year in financial distress."[/size]
[size=45]Cougar believes that "the government's move towards raising the price of the dollar solved its problems, but it implicated the market and the citizen with the negative aspects of the decision."[/size]
[size=45]He continues, "The government saved by raising the price of the dollar 22 trillion dinars, and it was required to achieve half of it to bridge the salary deficit, and therefore it saved the remaining half at the expense of the citizen."[/size]
[size=45]And Cougar added, "The citizen's harm from this decision came as Iraq is a consuming country, not a producer, and all goods from agriculture to industry through import."[/size]
[size=45]Cougar went on to say that “the damage to the citizen was from three sides, namely the decrease in the purchasing power of salaries by 22%, the rise in prices, as well as the instability of the market; Because of the conflicting statements about the possibility of the dollar returning to its previous position or not.[/size]
[size=45]For his part, the other committee member, MP Muhammad Al-Shabki, said in a statement to (Al-Mada), that “one of the most important tasks of the House of Representatives for the remainder of the current electoral cycle is to monitor government efforts to reduce the effects of raising the price of the dollar.”[/size]
[size=45]Al-Shabki continued, "The government laid down a number of justifications when it resorted to making this decision, and then included it in the budget law for the current year, as the issue was related primarily to securing the salaries of employees and retirees."[/size]
[size=45]He pointed out that "previous meetings with officials in the Ministry of Finance during the past week resulted in an agreement for the government to take measures that would reduce the damage to the citizen as a result of raising the price of the dollar."[/size]
[size=45]Al-Shabki added, “Parliament will monitor the government’s seriousness in these steps; It has revealed efforts to support the ration card, as well as increase the salaries of those covered by social protection, and other decisions related to agricultural crops, and therefore we hope that the expected measures will achieve their goals as soon as possible.”[/size]
[size=45]It is noteworthy that the House of Representatives had voted at the end of last March on the budget law, including fixing the price of the dollar at 1450 dinars, which greatly affected the Iraqi markets, which witnessed an increase in basic goods and a decrease in the purchasing power of the citizen.[/size]
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