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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 calls for a review of the exchange rate: All the justifications for raising th

rocky
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parliamentary - Parliamentary Finance calls for a review of the exchange rate: All the justifications for raising th Empty Parliamentary Finance calls for a review of the exchange rate: All the justifications for raising th

Post by rocky Wed 08 Sep 2021, 7:14 am

[size=52]Parliamentary Finance calls for a review of the exchange rate: All the justifications for raising the dollar have not been achieved[/size]

[size=45]Baghdad/ Firas Adnan[/size]
[size=45]The Finance Committee in the House of Representatives says that all the justifications for changing the exchange rate of the dollar compared to the Iraqi dinar have not been achieved, denying the existence of a decrease in the sales of the Central Bank so far, stressing the continued flow of hard currency out of Iraq.[/size]
[size=45]The committee stated that considering the decision is premature and will be with the draft budget law for the next year, which is still in the custody of the government, and talked about the parliament’s authority to intervene and address the severe economic effects it left on the simple citizen, by reconsidering or amending it.[/size]
[size=45]Committee member Naji Al-Saidi said, in a statement to Al-Mada, that "the proposal to set the dollar exchange rate is a governmental and executive matter, before it falls within the competence of the House of Representatives."[/size]
[size=45]Al-Saidi, a representative from the Sairoon bloc, added, “An article in the budget laws that comes from the government in the form of a project, in which the exchange rate is set, and is discussed with the rest of the budget items in the House of Representatives.”[/size]
[size=45]He pointed out, "Knowing the total government revenues is done in light of determining the price of the dollar compared to the Iraqi dinar, and setting an appropriate price for a barrel of oil, and here the parameters of the budget will become clear to us in terms of revenues, expenditures and the amount of the planned deficit."[/size]
[size=45]And Al-Saidi, "The Finance Committee in the House of Representatives has not yet received the draft budget law for the next year, and we do not know anything officially about the price of the dollar."[/size]
[size=45]And while he saw that “talking about setting a new price or maintaining what it is currently is, it is still premature.” next.”[/size]
[size=45]Al-Saidi denied that "the main and only reason behind changing the exchange rate is to cover the budget deficit, as it is promoted in the media."[/size]
[size=45]The member of the Finance Committee explained, "The goal was much further, and in light of this, the so-called white paper related to reforming the economic and financial system in Iraq was issued."[/size]
[size=45]Al-Saidi finds, "None of the objectives of raising the exchange rate have been achieved, whether at the financial level related to the deficit, or the monetary reduction related to the sale of reserves of hard currency, in addition to achieving development," stressing that "all these justifications have no effect on the ground." Reality".[/size]
[size=45]And he added, "The House of Representatives, whether it is in the current or the next session, has the right to exercise its constitutional powers and amend the dollar exchange rate and return it to what it was in the past, especially with the absence of its justifications."[/size]
[size=45]Al-Saidi went on to say that “the functions of the House of Representatives regarding the budget are clear and defined by Article 62 of the Constitution, which is to reduce the total amounts or transfers between chapters, and change the exchange rate if it comes within these two frameworks, then it is considered a project, whether by amending the government’s orientation or returning to what it was in the past.” .[/size]
[size=45]And Finance Minister Ali Abdel Amir Allawi had stated in a dialogue session last month, with a number of journalists and media professionals, attended by (Al-Mada), that “the exchange rate of the dollar against the Iraqi dinar will not change in the next budget, as it reflects many issues and raises it to the benefit of some economic sectors.” “.[/size]
[size=45]Another member of the committee, Abdel Hadi Al-Saadawi, agreed with Al-Saeedi, that “the change in the dollar exchange rate did not achieve any of the goals that the government promised.”[/size]
[size=45]Al-Saadawi, a representative of the State of Law coalition, added, in a statement to (Al-Mada), that "the government had promised that it would encourage the national product and provide job opportunities for the unemployed."[/size]
[size=45]He regrets that “all those promises were not implemented. On the contrary, the decision contributed to increasing the burdens on the citizen, especially the poor and middle classes.”[/size]
[size=45]Al-Saadawi finds that “talking about providing funds to the government as a result of this decision is scientifically inaccurate, as it contributed to obtaining sums temporarily and not permanently.”[/size]
[size=45]He noted, "This comes at a time when the Central Bank continues its activity through the currency sale window in an unthought manner, and this contributed to the exit of large quantities of hard currency abroad."[/size]
[size=45]Al-Saadawi added, noting "the importance of reconsidering these decisions in the next budget, and that they meet the aspirations of the Iraqi street, and do not contribute to increasing the burdens on it."[/size]
[size=45]And he spoke, “It is not possible to complete the discussion of the budget during the remainder of the parliament’s life, and its legislation will be postponed until next year due to the approaching date of the elections.”[/size]
[size=45]Al-Saadawi concluded, “The necessity of resorting to other available resources to secure important revenues for the state away from pressure on the citizen, and at the forefront of those revenues are the revenues of border crossings, customs and fees.”[/size]
[size=45]The budget for the current year had raised the dollar's exchange to 1450 dinars, but this price did not remain fixed, but witnessed a change in the market, sometimes reaching 1490 dinars or a little less.[/size]
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