Home
[You must be registered and logged in to see this image.]
Shafaq News/ On Sunday, the Parliamentary Finance Committee denied what was recently reported about Parliament's efforts to restore the exchange rate of the dollar to its previous level, 1200 Iraqi dinars for every US dollar.
Committee member Jamal Cougar told Shafaq News Agency, "It is very difficult to restore the dollar exchange rate to its previous state, and this matter is not one of the tasks of the House of Representatives, and it is not true according to a number of reasons, including that changing the exchange rate is one of the exclusive powers of the Central Bank of Iraq." and to the Ministry of Finance.
He added, "The economic situation is not as some are talking about, that is, despite the financial surplus achieved from the rise in oil prices, there is a debt owed by Iraq in favor of foreign and internal banks of no less than 100 trillion dinars, in addition to some hateful debts as a result of the Gulf War."
He pointed out that "the rise in oil prices is not stable, but rather came as a result of the war crisis between Russia and Ukraine, meaning when the war stops and things return to their normal state, oil prices will drop."
Cougar continued, "As a government and parliament, we failed to limit the excessive increase in reducing the operating budget, meaning that most of the state's resources go to the operational, and therefore no matter how much our financial resources increase, they are not enough to fill the operating budget and allocate a good part to the investment budget, and if we change the dollar exchange rate, this means Adding 23% to the state budget as a difference in the exchange rate, will also create an unnatural state of confusion in the market.
And he added, "Changing the exchange rate will generate compensatory claims by the owners of some investment projects contracted for the benefit of the state, meaning that the affected investor will demand compensation, and therefore what some are promoting about the possibility of the House of Representatives issuing decisions that restore the dollar exchange rate are nothing but auctions and titillation for the feelings of the Iraqi street."
Regarding the Emergency Support Law for Food Security and Development, Cougar explained, "The Food Security Law, in accordance with the article included in it, which requires the implementation of the law on the same day it is voted on, at a rate of 50% of the total amounts allocated to it, and therefore it has entered into force and according to the exchange sections that included it."
Cougar ruled out passing the country's general budget law without forming a government, and that the latter is still subject to the consensus of the political forces on its formation, because the withdrawal of the Sadrist bloc from the political process confused the matter and therefore it is difficult to predict how the mechanism of forming the next government will be.
Some members of the House of Representatives had promoted in statements about the possibility of returning the dollar exchange rate to what it was before.
It is noteworthy that the Central Bank of Iraq, on December 19, 2020, officially announced the amendment of the foreign exchange rate (the US dollar) to be 145,000 dinars for every $100, according to the state’s general budget for the year 2021 approved by the House of Representatives.
As a result, according to specialists, the annual inflation in Iraq has risen significantly, so that the prices of all materials and commodities in the Iraqi market have risen significantly, which has sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.
[You must be registered and logged in to see this link.]
Parliamentary Finance denies the possibility of restoring the dollar exchange rate: it confuses the market and investment projects
Shafaq News/ On Sunday, the Parliamentary Finance Committee denied what was recently reported about Parliament's efforts to restore the exchange rate of the dollar to its previous level, 1200 Iraqi dinars for every US dollar.
Committee member Jamal Cougar told Shafaq News Agency, "It is very difficult to restore the dollar exchange rate to its previous state, and this matter is not one of the tasks of the House of Representatives, and it is not true according to a number of reasons, including that changing the exchange rate is one of the exclusive powers of the Central Bank of Iraq." and to the Ministry of Finance.
He added, "The economic situation is not as some are talking about, that is, despite the financial surplus achieved from the rise in oil prices, there is a debt owed by Iraq in favor of foreign and internal banks of no less than 100 trillion dinars, in addition to some hateful debts as a result of the Gulf War."
He pointed out that "the rise in oil prices is not stable, but rather came as a result of the war crisis between Russia and Ukraine, meaning when the war stops and things return to their normal state, oil prices will drop."
Cougar continued, "As a government and parliament, we failed to limit the excessive increase in reducing the operating budget, meaning that most of the state's resources go to the operational, and therefore no matter how much our financial resources increase, they are not enough to fill the operating budget and allocate a good part to the investment budget, and if we change the dollar exchange rate, this means Adding 23% to the state budget as a difference in the exchange rate, will also create an unnatural state of confusion in the market.
And he added, "Changing the exchange rate will generate compensatory claims by the owners of some investment projects contracted for the benefit of the state, meaning that the affected investor will demand compensation, and therefore what some are promoting about the possibility of the House of Representatives issuing decisions that restore the dollar exchange rate are nothing but auctions and titillation for the feelings of the Iraqi street."
Regarding the Emergency Support Law for Food Security and Development, Cougar explained, "The Food Security Law, in accordance with the article included in it, which requires the implementation of the law on the same day it is voted on, at a rate of 50% of the total amounts allocated to it, and therefore it has entered into force and according to the exchange sections that included it."
Cougar ruled out passing the country's general budget law without forming a government, and that the latter is still subject to the consensus of the political forces on its formation, because the withdrawal of the Sadrist bloc from the political process confused the matter and therefore it is difficult to predict how the mechanism of forming the next government will be.
Some members of the House of Representatives had promoted in statements about the possibility of returning the dollar exchange rate to what it was before.
It is noteworthy that the Central Bank of Iraq, on December 19, 2020, officially announced the amendment of the foreign exchange rate (the US dollar) to be 145,000 dinars for every $100, according to the state’s general budget for the year 2021 approved by the House of Representatives.
As a result, according to specialists, the annual inflation in Iraq has risen significantly, so that the prices of all materials and commodities in the Iraqi market have risen significantly, which has sparked a wave of strong resentment among the popular circles, as well as the objections of some interested in economic affairs.
[You must be registered and logged in to see this link.]
» 9/29/23 Militia Man & Crew Iraq Dinar - International Contracts - Global - Natural - Wealth get rea
» The House of Representatives holds its session headed by Al-Halbousi
» The House of Representatives votes to add two items to its agenda
» Central Bank: The dollar price has nothing to do with filling the budget deficit
» Al-Sudani: True security is when we provide services to citizens
» The Central Bank intends to adopt four currencies instead of the dollar for external transfer
» Government determination to limit the rise in housing unit prices
» Deputy Prime Minister: Emphasizes the digitization of the banking system in Iraq
» Next Sunday, training for applicants for the “Riyadah” initiative will begin.
» Central Bank Governor: We are working to ban dealing in the dollar internally
» Al-Rafidain and Al-Rashid begin distributing pensioners' salaries for the month of August
» Al-Rafidain launches financial loans of up to 150 million dinars to employees and citizens
» The Region's Finance issues a schedule of salaries for its ministry's employees
» Parliamentary law discusses a number of draft laws
» The Central Bank is considering adopting the currencies of India, the Emirates, and Turkey for forei
» Al-Sudani: The scourge of drugs is no less dangerous than the challenges of ISIS terrorism
» Newspaper: The Pentagon Hospital in Germany treats American mercenaries who were wounded in Ukraine
» A study predicts the formation of a new supercontinent that will destroy humanity
» Al-Maliki's coalition: The Hamdaniya tragedy took the course of an electoral struggle between these
» Former Minister: The Khor Abdullah Agreement is a thing of the past and Baghdad must find a new form
» Including oil and gas.. A parliamentarian reveals the main reason behind not approving important law
» Trade determines a factor that contributes to controlling the prices of bread and ham
» With broad international participation...the second forum of the Islamic Organization for Food Secur
» Deputy Director of the Prime Minister's Office reviews the completion of the Sinbad Road and Atomic
» More than $777 million in sales from the Central Bank of Iraq last week
» Anticipation of a US decision against Türkiye requiring it to pay $602 million to Iraq
» "The Sleeping City"... the story of 10,000 workers whose livelihoods are under piles of scrap in eas
» Washington steps in and wants to resume exporting Kurdistan oil through Türkiye
» With hopes of approving the oil and gas law.. a “Turkish line” disturbs the relationship between Bag
» People of Al-Hamdaniya: ISIS failed to kill us, but political corruption succeeded in doing so
» After luring them... blackmailers were arrested in Baghdad
» The Minister of Electricity announces the complete completion of the connection with Jordan
» The Central Bank reveals a direction regarding the dollar: prohibiting dealing in it internally
» President Bafel Talabani recommends that the Union Bloc leave the conference and go to the voting se
» Deputy: Evaluation of federal government ministers takes place on a daily basis
» Between quality or not... A French report reveals new details about Baghdad's service projects
» Iraq Calls On Iran To Participate In Investment Projects To Establish Industrial And Free Zones Betw
» Economist: Double-digit inflation in Iraq, measured by real estate
» New details revealed regarding the “satellite Internet” project in Iraq
» The Dollar Is At The Forefront.. The Governor Of The Central Bank Opens The Thorny Files
» Iraq is facing drought by digging hundreds of wells to benefit from groundwater
» Integrity: Life imprisonment for the official of the strong cash register in the Real Estate Bank in
» Mr. Al-Hakim: The presence of governorate councils guarantees the representation of everyone and the
» The Netherlands sends dozens of soldiers and helicopters to Iraq
» Al-Alaq: The Central Bank is working to ban dealing in the dollar internally, and the electronic pla
» Minister of Immigration: We trust the government and its Sudanese president to preserve the unity of
» Frame: Ankara carried out more than 27 raids on the north during this September
» Parliament: Evaluation of Sudanese government ministers takes place on a daily basis
» Chambers of Commerce: The parallel market for the dollar will reach record levels
» Arrest of a group specialized in stealing electrical cables east of Fallujah
» The Central Bank announces that the rate of trade use of the dollar platform has increased by 95%
» Deputy: The central and southern regions are almost turning into a barren desert due to drought
» Minister of Immigration: Political parties are trying to exploit the Hamdaniyah tragedy in a disgust
» Al-Sudani supervises the opening of 146 schools and the rehabilitation of 1,009 schools in Iraq
» Iraq is the third largest importer from Turkey during the month of August, with a value of one billi
» The Governor of the Central Bank talks about 9 files, most notably the exchange rate and inflation
» Iraq is the second largest exporter of crude oil to India during September
» The judiciary clarifies the truth of the lawsuit filed against the religious authority Al-Sistani
» India prefers Iraqi oil over Saudi oil for this reason..
» Sudanese to Parliament soon.. A representative announces the completion of the procedures for interr
» Exchange rates rise again in Baghdad... 157 thousand for every 100 dollars
» Kurdistan's salary crisis "strikes" the balance of the quality of education...a continuous migration
» Interior Ministry: 90% of our facilities violate safety requirements and we cannot close them
» “Jubair Al-Jubouri” was brought in on charges of spending more than half a billion dinars in violati
» It includes 5 million seedlings.. Baghdad Municipality announces a plan to develop more than 100 new
» A threat raids flights in the skies of Iraq
» President Bafel Talabani recommends that the Union Bloc leave the conference and go to the voting se
» American report: Washington views Baghdad as a “contradictory partner” and “implicit enemy”
» The dollar continues to rise.. Learn about the exchange rates in Iraqi markets
» The countries that import Turkish goods the most during the month of August.. This is Iraq’s rank
» Reinforcing the Iraqi Dinar: A Shift in Iraq’s Monetary Policy
» Former MP: There is no “veto” on Iraq’s possession of air defense systems
» Financial waste by equipping an inoperative firefighting system worth $350,000 for the Oil Explorati
» UNHCR to Al-Furat News: There was no malfunction in the second simulation and things are going accor
» Commerce reveals the rates of completion of the electronic card modernization
» The plan details the most prominent aspects of government support to provide housing for poor famili
» 5 counterfeiters were overthrown at Baghdad International Airport
» Extension of application to central admission after the results of the second round
» With hopes of approving the oil and gas law.. a “Turkish line” disturbs the relationship between Bag
» Integrity monitors waste of public money and violations in oil company contracts in Basra
» Karbala refinery begins actual production
» The water issue with Tehran and Ankara has been resolved “half-way.” Do political problems hinder te
» “Al-Mawazi” ignores the government’s threat and rises above 155,000...evening dollar list - Urgent
» Integrity attacks Samarra Electricity employees. Find out their charges
» Sitting at home or working without pay...the US government shutdown gives employees a choice
» The Popular Mobilization Forces: We cut off all the “corridors of evil” between two governorates.. I
» Parliamentary Security shows ways to combat drugs in Iraq... 3 priorities
» The designer of the most powerful space rocket in the world dies
» Monitoring waste of public money and violations in oil company contracts in Basra
» America worsens the Ukraine war and agrees to additional aid to Kiev
» Launching the nomination form for the “Youth Ambassadors” program...these are its details
» The electricity delegation arrives in Saudi Arabia
» To support the national product...a parliamentary call to operate idle factories
» Fake projects: 9 billion dinars wasted from Dhi Qar Governorate’s reconstruction funds
» American magazine: The Ukraine war is not like Iraq, and the contradiction between them is greater
» Putin assigns a former Wagner commander to a "mission" in Ukraine
» Freeing a kidnapped foreign national and arresting her kidnappers in Baghdad
» Fourth for Kurdistan.. The House of Representatives meets tomorrow to vote on Halabja, Governorate N