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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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    THE REPERCUSSIONS OF THE DOLLAR EXCHANGE RATE ON THE ECONOMIC AND SOCIAL ASPECTS

    Rocky
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    THE REPERCUSSIONS OF THE DOLLAR EXCHANGE RATE ON THE ECONOMIC AND SOCIAL ASPECTS Empty THE REPERCUSSIONS OF THE DOLLAR EXCHANGE RATE ON THE ECONOMIC AND SOCIAL ASPECTS

    Post by Rocky Sun 18 Jul 2021, 9:06 am

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    THE REPERCUSSIONS OF THE DOLLAR EXCHANGE RATE ON THE ECONOMIC AND SOCIAL ASPECTS
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    [You must be registered and logged in to see this link.]5 hours ago44


    News Agency / Ali Khaled
    Al-Furat Center for Development and Strategic Studies discussed in a panel discussion entitled "The Repercussions of the Exchange Rate in Iraq on the Economic, Social and Political Aspects", and a number of researchers and specialists in economic affairs participated in the symposium.
    Hamed Abdul Hassan al-Jubouri, a researcher at the center, said that "due to the exacerbation of the financial deficit due to the decline in oil revenues against the background of the decline in oil prices in conjunction with the rise in public expenditures to mitigate the effects of the Corona pandemic, the Ministry of Finance, in consultation with the Central Bank, resorted to raising the selling price of the dollar at the price of 145 instead of 128 dinars. per dollar to provide liquidity.
    He added, "The rise in the price of the dollar led to an increase in financial revenues by 10 trillion dinars and a decrease in the opportunities to benefit from the differential exchange rates and the smuggling of funds, according to the statements of the Deputy Governor of the Central Bank, Ihsan Shamran Al-Yasiri," noting that "the rise in the dollar exchange rate generated negative effects on the short-term level, including high inflation And an increase in the mainly aggravating unemployment rates and an increase in poverty and others, and here it can be said that the returns achieved from raising the price of the dollar in return for the devaluation of the Iraqi dinar are not worthy of making this decision.
    And he added, "On the other hand, the effect of raising the price of the dollar on the long-term level, may be encouraging to move the Iraqi economy towards production, because raising the price of the dollar means reducing production costs, then prices, increasing exports, opening factories, creating job opportunities, and reducing unemployment and poverty."
    In a related context, Dr. Hussein Ahmed Dakhil, a researcher at the Euphrates Center, said in an interview with the news agency that "the paper included clarification of the issue of the exchange rate policy as it is part of the monetary policy that must be integrated with the commercial and financial policies of the state to achieve the desired economic goals," explaining, "We note that This policy or this decision came in isolation from other policies and did not achieve the desired goal, which aims in general to encourage the national product and enhance the export capacity of economic activities in the country and the productive sectors, in addition to mitigating imports and reducing the exit of hard currency after the decrease in the hard currency reserve in the Central Bank and the reason for the lack of integration Economic policies differed from trade policies, fiscal policies, and even other monetary policies, and thus did not achieve the desired goal.
    He added, "This contradicts the economic plan presented by the Iraqi government in the white paper, which obtained the approval of the Iraqi parliament, but we note that he was the first to abandon this plan, the government that set it by submitting the draft general budget law, which included many violations and greatly contradicted the contents of The white paper.
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