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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

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    Sulaymaniyah.. Salary delays and the fluctuation of the dollar paralyze purchasing power and market

    Rocky
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    Sulaymaniyah.. Salary delays and the fluctuation of the dollar paralyze purchasing power and market Empty Sulaymaniyah.. Salary delays and the fluctuation of the dollar paralyze purchasing power and market

    Post by Rocky Mon 16 Oct 2023, 5:15 am

    Sulaymaniyah.. Salary delays and the fluctuation of the dollar paralyze purchasing power and market movement



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    2023-10-16 03:27
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    Shafaq News/ The “recession” has been looming over the markets of Sulaymaniyah in the Kurdistan Region for weeks, as a result of the delay in disbursing employees’ salaries and benefits for two months, as a result of the failure to send the region’s share of the general budget of the Iraqi state.
    The Director of Commercial Control in Sulaymaniyah, Soran Abdul Ghafour, told Shafaq News Agency, that the committees of the Directorate of Commercial Control roam day and night and on all occasions in Sulaymaniyah markets to monitor prices, but what has been observed is that the last three months have witnessed a clear decline in market movement and the purchasing power of citizens.
    Regarding the reasons, Ghafoor stated that the delay in disbursing monthly salaries for more than two consecutive months and the fluctuation of the dollar exchange rate against the local currency created a state of instability in Sulaymaniyah markets, not only among citizens but even among shop owners and merchants.
    He stressed that the shops that sell luxury and household items and electrical items, as well as showrooms that sell cars and other non-essential items, have stopped operating completely and noticeably, noting at the same time that the distribution of ration card items has contributed in some way to reducing market movement, as many items are now being distributed. In the food ration and subject to monitoring and auditing.
    Regarding recording violations related to prices, types, and permissions, the Director of Commercial Control indicated that violations continue, and our team fines violators daily in order not to manipulate prices and not harm the health of citizens.
    Meanwhile, economic expert Karzan Ali told Shafaq News Agency that delaying salaries and not disbursing them until now for two consecutive months threatens humanitarian and economic problems for the exhausted economy in Sulaymaniyah.
    He stated that salaries are the most prominent financial resources for the market in Kurdistan in general and Sulaymaniyah in particular, and their delay or reduction is reflected in a complete paralysis in the movement of markets and a significant decline in the purchasing power of citizens in general and employees in particular.
    Ali predicted that the absence of salaries would cause huge losses to merchants in the markets due to the accumulation of their goods and a decline in purchasing activity, and would place merchants in front of two bitter options: either selling them at cost price or perhaps lower, or exposing them to damage, and in both respects he would be a loser.
    Government employees in Sulaymaniyah say that the government has not provided a satisfactory answer about the delay or non-payment of salaries until this moment, other than what is being circulated in the media, which indicates the existence of disputes between Baghdad and Erbil whose fate is unknown.
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