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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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Economist: Salaries are secured no matter how late the approval of the 2022 budget is delayed.. and

rocky
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budget - Economist: Salaries are secured no matter how late the approval of the 2022 budget is delayed.. and  Empty Economist: Salaries are secured no matter how late the approval of the 2022 budget is delayed.. and

Post by rocky Wed Dec 22, 2021 7:08 am

Economist: Salaries are secured no matter how late the approval of the 2022 budget is delayed.. and warns of a "major catastrophe"

  •  Time: 12/21/2021 23:22:29
     
  •  Reading: 3,510 times

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{Economic: Al Furat News} The economic expert, Hammam Al-Shamaa, confirmed that the salaries are fully secured, no matter how late the approval of the 2022 budget, while he warned of a major disaster, which he called "construction bonds."
The useful summary.. In important news, you can find it on Al-Furat News Channel on Telegram.. [You must be registered and logged in to see this link.]
Shammaa said; For the “State Dialogue” program, broadcast by Al-Furat satellite channel tonight, it said: “So far, the budget is almost ready and prepared, but it will be presented to the House of Representatives as soon as it is formed, holding its first session, and choosing the President of the Republic and the Prime Minister.”
He added, "Early measures were taken to prepare the budget, regardless of what it contains, but it is absolutely certain, no matter how late the formation of the council is, the salaries are secured regularly without problems, and it is customary to pay 1/12," noting that "the delay in disbursing salaries is due to the end of the fiscal year and the preparation of a new budget."
Al-Shamaa continued, "There are supposed to be final accounts, and the Minister of Finance is supposed to submit expenditure accounts for the 2021 budget, and economic recovery will depend on the selection of the three presidencies, especially the presidency of the government and the formation of the cabinet; but the insistence on keeping the current Finance Minister, whose concern was not reforming the economic situation. As much as creating artificial problems and going to tighten the screws on the Iraqi people, especially the poor."
And if the government is changed and a new finance minister is chosen who does not believe in the white paper, which is a dream that does not come true in light of the economic crisis, we will witness a financial recovery for Iraqis, and any new government that is serious about fixing the defect created by the previous ministry will turn to effective measures in the interest of the citizen. . 
Al-Shamaa went on to say, "We follow the fixed exchange rate system in Iraq, and the Central Bank is not the one who made the decision to raise the price of the dollar, but based on a decision taken by the Minister of Finance, who threatened not to sell the dollar to the Central Bank, and thus he would suffer from a lack of liquidity. The second was lifted by a decision from him and in violation of The Central Bank Law is included in the white paper, which contains destructive ideas in light of the existing economic situation.
He pointed out, "The Central Bank had two options: either withdrawing the balance of foreign reserves or issuing a new currency, so the exported currency rose by 76 trillion, which could have led to the exhaustion of foreign reserves, and the improvement of the Iraqi economy by raising the exchange is incorrect, but it was achieved due to high oil prices."
Al-Shammaa explained, "Iraq suffers from the phenomenon of stagflation, and it is a state equipped with two contradictions (inflation and stagnation). The first came as a result of the rise in the exchange rate and the stagnation came to a decrease in the purchasing power of employees and the general public, the unemployment situation increased, the level of poverty rose, and the income of millions of the Iraqi people was below the poverty level, if we are talking about measures taken to deliberately destroy the Iraqi economy, not in good faith." 
He pointed out that "the exchange rate is a very sensitive issue, touching it in this way is a destruction of the Iraqi economy. We may commit a greater mistake than the crime that was committed when the Iraqi dinar was devalued. 
We have two fixed and compensated price systems, and we follow in Iraq, Jordan and the Gulf countries the fixed exchange rate because we have reserves." enough foreign currency to stabilize the exchange rate and lead to stabilizing the economic situation, credit and indebtedness, and encouraging private and foreign investment. 
Al-Shamaa added, "A crime was committed against the Iraqi economy, and the solution must be that there should be interest by the state in allocating trillions to employees and those affected by the vulnerable classes, and to eliminate stagnation, that is, the 24 trillion dinars that we obtained as a result of reducing the price of the dinar must allocate its equivalent to the happiness of the Iraqi people And compensate him for the damage,
by allocating 5 dollars outside the budget for the work of a fund in the Central Bank that finances the financing of activities.”   
He described the distribution of construction bonds as "a heresy, and we do not know what they will allocate. In fact, they will be allocated to operational spending, which is a major disaster that will add new burdens to the Iraqi economy." 
seal candle"

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