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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


    A financial expert warns against printing currency to cover budget expenses and offers proposed solu

    Rocky
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    Rocky
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    • Post n°1

    A financial expert warns against printing currency to cover budget expenses and offers proposed solu Empty A financial expert warns against printing currency to cover budget expenses and offers proposed solu

    Post by Rocky Tue 27 Jun 2023, 4:42 am

    [size=45][size=41]A financial expert warns against printing currency to cover budget expenses and offers proposed solutions[/size]
     13 hours ago
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    Financial expert Mustafa Hantoush warned of an insane rise in the exchange rates of the dollar against the dinar in the event that the government resorted to printing the currency in order to cover expenses in the budget.
    Hantoush said in a press interview seen by “Takadam” that “the government is on the verge of implementing a huge budget, which puts it in an embarrassing position,” noting that “Iraq in previous years was facing difficulty in securing 8 trillion dinars per month, so what will it do when it needs more than 16 trillion dinars per month if you start implementing the budget?
    He added, "The government faces a big challenge in order to withdraw the cash block available to citizens through high-interest bonds in order to avoid printing more cash block from the local currency," noting that "the presence of the cash block outside the banking system will open the way for speculation."
    He pointed out that "printing more local currency to cover expenses in the budget will eventually lead to an insane rise in the exchange rates of the dollar against the dinar."
    The country's general budget law entered into force after it was published in the Official Gazette, and ministries are now awaiting instructions for implementing the budget before embarking on its implementation.
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