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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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.

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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


    By 12 times...the gap between the official and parallel prices is increasing...these are the most pr

    Rocky
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    • Post n°1

    By 12 times...the gap between the official and parallel prices is increasing...these are the most pr Empty By 12 times...the gap between the official and parallel prices is increasing...these are the most pr

    Post by Rocky Sat 21 Oct 2023, 4:12 am

    By 12 times...the gap between the official and parallel prices is increasing...these are the most prominent “government challenges”
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    Baghdad today - Baghdad 
    The rise in the exchange rate of the dollar against the dinar continues, with the gap between the official and parallel rates increasing 12-fold, while the Iraqi government remains facing real challenges that specialists explain to “Baghdad Today.” 
    Today, Saturday (October 21, 2023), the exchange rate of the dollar against the Iraqi dinar recorded an increase, reaching 160 thousand dinars per 100 dollars, while the official price recorded 132 thousand dinars per 100 dollars. [You must be registered and logged in to see this image.]
    The dollar and individuals’ livelihood 
    Economic expert Nabil Al-Marsoumi confirmed today, Saturday, that “the price gap has increased 12-fold in Iraq,” indicating that the rise in the price index while wages remain the same reflects negatively on individuals’ livelihoods. 
     Al-Marsoumi said in an interview with “Baghdad Today” that “the gap between the official rate and the parallel exchange rate for the dollar amounted to 23%, despite the fact that international measurements for any system that adopts fixed exchange mechanisms should not exceed 2%, meaning that the gap in Iraq has increased 12 times.” Pointing out that it “directly reflects on the economic reality.”
    Al-Marsoumi points out that “the Ministry of Planning, according to its reports, indicates that inflation rates are less than 4%, and this number needs to be reconsidered because it depends on 333 commodities, some of which are subsidized, but Iraq imports 7,500 commodities, and this means that inflation rates are much higher due to the increase in lands and materials.” Construction and spare materials. 
    The gap and government actions 
    The economic expert explains, "The Sudanese government's ability to address the price gap has apparently become beyond its ability, especially since its first measure was to reduce the exchange rate of the dollar, which cost the country's treasury 10 trillion without affecting the lives of citizens."
    He continued, "The exchange rate reaching 160 thousand dinars for every $100 is reflected in the performance of projects, because whenever the commodity supply decreases, projects rush to reduce employment, unlike the case of increased demand, in addition to the 2023 budget, which has not yet been launched, and the government does not provide any justifications." Because its launch will create activity and lead to the availability of more job opportunities, especially in the private sector.” 
    The dollar exchange rate has witnessed a noticeable increase in recent days, exceeding the barrier of 160 thousand dinars per 100 dollars, while the Central Bank is taking many measures and decisions to prevent the circulation of the dollar in local markets above the official price (1320), but to no avail, despite the fact that the dollar is its only source. The Central Bank, although those who take dollars are private banks and exchange companies known to it, is unable to control them and oblige them not to leak dollars through fake transfers, according to observers.
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