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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


    Planning: Inflation rates in Iraq are 4% and their rise is logical

    Rocky
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    • Post n°1

    Planning: Inflation rates in Iraq are 4% and their rise is logical Empty Planning: Inflation rates in Iraq are 4% and their rise is logical

    Post by Rocky Sun 01 Oct 2023, 7:11 am

    Planning: Inflation rates in Iraq are 4% and their rise is logical
    • Time: 10/01/2023 07:52:32
       
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    {Economic: Al-Furat News} The Ministry of Planning announced that inflation rates in Iraq are rising logically, as the annual rise touched the 4 percent barrier compared to the year preceding the last inflation indicators that were read, which was last July.
    Ministry spokesman Abdul Zahra Al-Hindawi said in a press statement, “Food prices in particular have witnessed stability in their rates, despite a global rise in prices, especially the prices of food and construction materials, which have witnessed an increase in their rates during the recent period, affected by the Russian war factor.” Ukrainian and other global factors, as a result, food prices rose, especially wheat, rice, and oil, which represent the foundations of the food basket worldwide.”
    He noted, "The world has been negatively affected by this aspect, so we see in most countries that there has been a wild rise in inflation rates in recent months at the level of countries in the region, not to mention that Iraq is suffering from other factors, in addition to the global factors, including the high exchange rate and the parallel exchange market." These factors have side effects on the economic reality in the country.
    Al-Hindawi went on to say that “the situation in Iraq seemed different from the rest of the countries, indicating that this difference was represented by the fact that inflation did not witness a rise in its rates as it had seen in other countries, as inflation rates in Iraq rose logically, as the annual rise touched the 4 percent barrier compared to The last year the inflation indicators were read was last July, when the index witnessed a decline of 0.3 percent, while the annual level witnessed an increase of 3.5 percent.
    He continued that the other factor is that food prices in particular have maintained the stability of their prices and even decreased the rates of some of them during recent periods, attributing “this decline in foodstuffs to the stability of inflation prices as a result of reasons, foremost of which is the government’s success in securing foodstuffs through the card system.” ration, which witnessed stability in the periods of the distribution system, an increase in quantities, and an improvement in quality during recent months.”
    He pointed out that "this improvement led to the stability of prices in the markets, stressing that when talking about food items distributed through the ration card, they contributed greatly to the stability of prices and even their clear decline compared to what they were a year or two ago, which is {what is called “With consumer reassurance among the citizen as a result of the availability of foodstuffs in sufficient quantities and on a regular basis.”
    He added, "On the other hand, the state, despite the high exchange rate and the existence of the parallel market, has succeeded in covering all imports of food and basic supplies at the official price of the dollar, and thus it is an important step that has affected the stability process, not to mention the unforeseen support provided in Purchasing agricultural crops from farmers at prices higher than international rates, which encouraged agriculture, especially the last season, as it was the first season in which Iraq witnessed a spontaneous increase in wheat production by more than 5 million tons produced during the previous season, which resulted from broad support to farmers.” .

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