Established in 2006 as a Community of Reality

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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


    Expert on reducing the exchange rate: new inflation hits the Iraqi economy

    Rocky
    Rocky
    Rocky
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    Posts : 269035
    Join date : 2012-12-21
    • Post n°1

    Expert on reducing the exchange rate: new inflation hits the Iraqi economy Empty Expert on reducing the exchange rate: new inflation hits the Iraqi economy

    Post by Rocky Tue 07 Feb 2023, 2:30 pm

    [size=30]Expert on reducing the exchange rate: new inflation hits the Iraqi economy
    [ltr]2023.02.07 - 22:36[/ltr]
    [/size]
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    Baghdad - people  
    The economist, Salam Sumaisem, commented, on Tuesday, on the decision to reduce the exchange rate of the dollar.  
      
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    Sumaisem said in a post followed by “Nass” (February 7, 2023), “I said it and confirm it.. Reducing the exchange rate is not a government decision, but rather a product of economic policies and reform measures that cause adjustments to the exchange rate. This reduction will lead to some obtaining a dollar at a reduced price and selling it at a lower price.” higher for people.  
      
    She added, "The difference between the two prices will be high, which will lead to new inflation hitting the economy."  
      
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    Earlier, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, commented on the decision to reduce the exchange rate of the dollar.  
      
    Al-Marsoumi said in a post followed by “Nass” (February 7, 2023), “The exchange of roles .. In 2021, the owner of the dinar lost and the owner of the dollar won, and in 2023 the owner of the dinar won and the owner of the dollar lost, and in both, oil was the engine of change.”    
      
    He added, "On Monday, Iraq was the biggest loser."    
      
    And the Cabinet approved, earlier, the decision to adjust the exchange rate of the dollar by the equivalent of 1,300 dinars.  
      
    The media office of the Prime Minister said in a statement, which "NAS" received a copy of, (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar."      
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    Rocky
    Rocky
    Rocky
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    Posts : 269035
    Join date : 2012-12-21
    • Post n°2

    Expert on reducing the exchange rate: new inflation hits the Iraqi economy Empty After reducing the exchange rate.. Al-Darraji warns of a 'deficit' in paying salaries

    Post by Rocky Wed 08 Feb 2023, 2:40 pm

    [size=30]After reducing the exchange rate.. Al-Darraji warns of a 'deficit' in paying salaries
    [ltr]2023.02.08 - 20:47[/ltr]
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    Baghdad - people  
    The Secretary-General of the "Enough" movement, Rahim al-Darraji, warned of "confusion" in the payment of salaries and the stability of the market.  
      
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    Al-Darraji said in a statement to Al-Mada, followed by "NAS" (February 8, 2023), "There is a deficit in expenditures, and decreasing the dollar will double the problem, and the government may be unable to pay salaries."  
      
    Al-Darraji stressed that "the reduction of the dollar will lead to an increase in smuggling, due to the difference in the price between what is in Iraq and its price in neighboring countries."  
      
    He also stressed, "The decision may lead to huge losses for merchants, as they are supposed to be given at least between 3 and 4 months until the disposal of their goods."  
      
    Al-Darraji underestimated the impact of decreasing the exchange rate on the price of the dollar in the parallel market, saying that "its impact will not exceed 10 percent."  
      
    Earlier, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, spoke about the consequences of what he described as the "political reduction" of the dollar's exchange rate, on approving the budget.  
      
    Al-Marsoumi said in a post, followed by "NAS", (February 6, 2023), that "the expected political reduction of the official exchange rate of the dollar against the dinar to 1,350 dinars per dollar will complicate approving the budget, confuse its vocabulary, and deepen the budget deficit, as it will keep the exchange rate of the dollar in the market." The parallel is close to its current price, because it is a matter of supply and demand, and as we advance, the gap increases and demand increases.    
      
    He added, "Therefore, the reduction will be useless to the market and the citizen, and exchange companies, brokers and speculators will benefit, and even if the dinar exchange rate rose temporarily, it will decline again."    
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