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Neno's Place Established in 2006 as a Community of Reality


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    6 months of open import, “yellow” taxes, and the neighborhood currency decreases.. Factors that “exh

    Rocky
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    • Post n°1

    6 months of open import, “yellow” taxes, and the neighborhood currency decreases.. Factors that “exh Empty 6 months of open import, “yellow” taxes, and the neighborhood currency decreases.. Factors that “exh

    Post by Rocky Sun 12 Jun 2022, 7:52 am


    [size=30]6 months of open import, “yellow” taxes, and the neighborhood currency decreases.. Factors that “exhaust” the local product in Iraq

    2022-06-12
    [/size]
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    Yes Iraq: Baghdad

    About two and a half months have passed since the decision of the Council of Ministers to open imports completely and to cancel and provide customs and taxes on foodstuffs, in order to mitigate the effects of high prices in the Iraqi markets, which the Ministry of Agriculture had accepted “reluctantly” while continuing to record its objections to opening imports.
    It was hoped that the decision to open import would end on June 30, as it was opened in April and for a period of 3 months, but the Council of Ministers preempted the days to decide recently to extend the opening of import and zero customs and taxes on imported goods for an additional 3 months, that is, until next September 30.
    The Ministry of Agriculture had considered that the decision to open imports would not succeed in reducing prices, because the price hike is global and is not specific to Iraq only, so the goods that will come from abroad will come at high prices as well, because they are affected by the costs of production and the high prices of fuel and transportation.
     
    However, the Baghdad Chamber of Commerce had another opinion, as it seemed “welcome” to the decision to extend the opening of imports and zero customs and taxes, considering that it mitigated the negative effects of the rise in food prices globally, according to the Chamber’s president, Firas Al-Hamdani, who said in statements followed by “Yassin Iraq”, that “opening imports will lead To the development of business and the market becomes competitive, and therefore there will be stability in prices and meet the needs of citizens in a way that does not raise prices significantly, and therefore the food crisis will have weak effects on Iraq.”
     
     
     
    The depreciation of the currency of neighboring countries deepens the crisis
    Meanwhile, the currencies of neighboring countries, especially Iran and Turkey, are recording a decline in their value against the dollar, which may deepen the Iraqi import crisis, as the decline in the currency of these two countries will reduce the costs of producing their goods, to come to Iraq at cheap prices, in addition to being exempt from taxes, fees and customs, All these factors will make it highly competitive prices compared to the local product, which suffers both due to zero duties and taxes for the importer.
     
     
    Experts say that the first effect of the decline in the local currency of Iran and Turkey is to put pressure on the Iraqi dollar; By increasing exports, as well as weakening the growth of Iraqi agricultural and industrial production.
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