[size=45][size=41]The exchange of the dollar .. a “curse” chasing the new deputies and an “early” movement for the amendment[/size][/size]
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Baghdad/ Al-Noor News
Although more than a year has passed since the exchange rate of the dollar was changed against the dinar, demands to amend it and return to the old price are still rising in societal circles and political activities.
With the start of the new year, and the start of the work of the House of Representatives, next week, informed political sources revealed a movement led by representatives from various alliances, with the aim of restoring the dollar exchange rate, to what it was, before the last amendment.
A winning candidate told "Al-Nour News" that "there is a move by dozens of deputies, towards the issue of restoring the exchange rate of the dollar, to what it was in the past, due to the damage caused to large sectors of the people, and the lack of seriousness of the gains that the current government talked about, As well as its negative repercussions on the aspects of trade, real estate and others.”
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The candidate, who refused to reveal his name, added that "the move is supported by a large political bloc, and dozens of other independent representatives, and this came due to demands by large segments of citizens, especially with the imminent approval of the new financial budget."
The candidate refused to disclose when this issue was brought before the public opinion, and the nature of the path taken in it.
The devaluation of the dinar caused a great shock to the Iraqi street, which was not expecting such a step, especially as it came at the height of the spread of the Corona pandemic, which caused business interruption, study disruption, market closure and health curfew, as well as the collapse in oil prices that Iraq relies on. Its sales to supplement the general budget by 95%.
In turn, Mazhar Muhammad, Advisor to the Prime Minister, for Economic Affairs, said that "the benefits achieved from the devaluation of the Iraqi currency are great and cannot be neglected, and that talk about returning to the old exchange rate has become a thing of the past."
And he added - in a press statement - that "the change in the exchange rate gave strength to many of the country's economic joints, which is consistent with the statements of the Central Bank, which confirmed that raising the exchange rate led to an increase in the competitiveness of the local product, as well as reducing expenditure pressure on the Ministry of Finance by 23%. This enabled the Ministry of Finance to overcome the crisis resulting from the drop in global oil prices during 2020 and the first months of 2021.”
Economists believe that the Iraqi government is the biggest winner from the reduction of the dinar by 90%, as it saved between 20 to 23 trillion dinars as a result of the decrease in the real value of employee salaries, which rebounded to the benefit of the operational and investment budget in the country.
With the upcoming parliamentary sessions, which will face great challenges, most notably the agreement on the position of president, in addition to the most important laws of the year, which is the budget law, the winning candidate, Yasser Watut, confirmed that "there are efforts towards the issue of restoring the dollar exchange rate."
Watout said in a brief comment to "Al-Nour News" that "there are already efforts towards the issue of restoring the dollar exchange rate, but this is linked to the start of the council's work and the start of legislation."
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The oldest member of the new parliament, Mahmoud al-Mashhadani, spoke on Monday about the atmosphere of holding the first session of the new parliament, while denying the possibility of an open session.
Al-Mashhadani told the official agency: "The House of Representatives will hold its first session on January 9 to take the constitutional oath and choose a president and his two deputies," noting that "there is no open session according to the decision of the Federal Court."
He added, "The parliamentary blocs will seek to choose the speaker of the permanent parliament in the first session, and if we do not succeed in that and there were problems and the blocs did not agree, there must be a legal way out, which is to keep the session for deliberation without closing it until the political blocs agree," explaining that “The decision in the Azm bloc, to which we belong, is to elect the Speaker of the House of Representatives in the first session, as it is in the constitution.”
He continued, "We have not yet taken a decision on whether to hold the session in the morning or in the evening," noting: "I have an upcoming meeting with the chief of the court to determine the features of the session."
The rise in oil prices at large rates, especially in the second half of 2021, to figures close to 86 dollars per barrel, was credited with achieving additional foreign currency revenues, exceeding 10 billion dollars, covering nearly half of the deficit in the 2021 budget.
The Central Bank of Iraq attributed the reasons for the devaluation of the dinar at the time to what it described as structural distortions in the Iraqi economy that impoverished public finances and restricted the reform capacity sought by the government and the Ministry of Finance.
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Baghdad/ Al-Noor News
Although more than a year has passed since the exchange rate of the dollar was changed against the dinar, demands to amend it and return to the old price are still rising in societal circles and political activities.
With the start of the new year, and the start of the work of the House of Representatives, next week, informed political sources revealed a movement led by representatives from various alliances, with the aim of restoring the dollar exchange rate, to what it was, before the last amendment.
A winning candidate told "Al-Nour News" that "there is a move by dozens of deputies, towards the issue of restoring the exchange rate of the dollar, to what it was in the past, due to the damage caused to large sectors of the people, and the lack of seriousness of the gains that the current government talked about, As well as its negative repercussions on the aspects of trade, real estate and others.”
[You must be registered and logged in to see this image.]
The candidate, who refused to reveal his name, added that "the move is supported by a large political bloc, and dozens of other independent representatives, and this came due to demands by large segments of citizens, especially with the imminent approval of the new financial budget."
The candidate refused to disclose when this issue was brought before the public opinion, and the nature of the path taken in it.
The devaluation of the dinar caused a great shock to the Iraqi street, which was not expecting such a step, especially as it came at the height of the spread of the Corona pandemic, which caused business interruption, study disruption, market closure and health curfew, as well as the collapse in oil prices that Iraq relies on. Its sales to supplement the general budget by 95%.
In turn, Mazhar Muhammad, Advisor to the Prime Minister, for Economic Affairs, said that "the benefits achieved from the devaluation of the Iraqi currency are great and cannot be neglected, and that talk about returning to the old exchange rate has become a thing of the past."
And he added - in a press statement - that "the change in the exchange rate gave strength to many of the country's economic joints, which is consistent with the statements of the Central Bank, which confirmed that raising the exchange rate led to an increase in the competitiveness of the local product, as well as reducing expenditure pressure on the Ministry of Finance by 23%. This enabled the Ministry of Finance to overcome the crisis resulting from the drop in global oil prices during 2020 and the first months of 2021.”
Economists believe that the Iraqi government is the biggest winner from the reduction of the dinar by 90%, as it saved between 20 to 23 trillion dinars as a result of the decrease in the real value of employee salaries, which rebounded to the benefit of the operational and investment budget in the country.
With the upcoming parliamentary sessions, which will face great challenges, most notably the agreement on the position of president, in addition to the most important laws of the year, which is the budget law, the winning candidate, Yasser Watut, confirmed that "there are efforts towards the issue of restoring the dollar exchange rate."
Watout said in a brief comment to "Al-Nour News" that "there are already efforts towards the issue of restoring the dollar exchange rate, but this is linked to the start of the council's work and the start of legislation."
[You must be registered and logged in to see this image.]
The oldest member of the new parliament, Mahmoud al-Mashhadani, spoke on Monday about the atmosphere of holding the first session of the new parliament, while denying the possibility of an open session.
Al-Mashhadani told the official agency: "The House of Representatives will hold its first session on January 9 to take the constitutional oath and choose a president and his two deputies," noting that "there is no open session according to the decision of the Federal Court."
He added, "The parliamentary blocs will seek to choose the speaker of the permanent parliament in the first session, and if we do not succeed in that and there were problems and the blocs did not agree, there must be a legal way out, which is to keep the session for deliberation without closing it until the political blocs agree," explaining that “The decision in the Azm bloc, to which we belong, is to elect the Speaker of the House of Representatives in the first session, as it is in the constitution.”
He continued, "We have not yet taken a decision on whether to hold the session in the morning or in the evening," noting: "I have an upcoming meeting with the chief of the court to determine the features of the session."
The rise in oil prices at large rates, especially in the second half of 2021, to figures close to 86 dollars per barrel, was credited with achieving additional foreign currency revenues, exceeding 10 billion dollars, covering nearly half of the deficit in the 2021 budget.
The Central Bank of Iraq attributed the reasons for the devaluation of the dinar at the time to what it described as structural distortions in the Iraqi economy that impoverished public finances and restricted the reform capacity sought by the government and the Ministry of Finance.
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