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Economic recession... fears threatening trade activity in Iraq
- Time: 10/21/2023 19:31:07
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{Economic: Al-Furat News} The Director of the Financial Supervision Bureau, financial expert, Salah Nouri, confirmed that Iraq is going through a stage similar to an economic recession due to the fluctuation of the dollar exchange rates.
A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
Nouri said {to Al-Furat News} that: “The economic situation in Iraq is the export of crude oil and the import of goods and merchandise, and the disruption of agricultural and industrial production.”
He added, "Trade activity and the situation are almost at a standstill in Iraq as a result of the fluctuation of the exchange rate of the dollar against the Iraqi dinar, meaning more like an economic recession, in addition to the impact of international events."
Iraq is witnessing high inflation rates, but the Ministry of Planning considered it “logical” 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. According to the Ministry of Planning
Nouri pointed out, “The impact of the decline in crude oil prices on the implementation of the operating budget, especially employee compensation and pensions, as well as the implementation of projects that are already difficult to implement during the remainder of the year 2023.”
The prices of the dollar recorded, this evening, Saturday, with the closure of the Al-Kifah and Al-Harithiya stock exchanges, 159,750 dinars against 100 dollars, while the prices this morning were 160,100 dinars against 100 dollars.
Until the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 160,750 Iraqi dinars for 100 dollars, while the purchasing price reached 158,750 dinars for 100 dollars.
From: Raghad Dahham
[You must be registered and logged in to see this link.]
{Economic: Al-Furat News} The Director of the Financial Supervision Bureau, financial expert, Salah Nouri, confirmed that Iraq is going through a stage similar to an economic recession due to the fluctuation of the dollar exchange rates.
A useful summary of important news can be found on the Al-Furat News channel on Telegram. [You must be registered and logged in to see this link.]
Nouri said {to Al-Furat News} that: “The economic situation in Iraq is the export of crude oil and the import of goods and merchandise, and the disruption of agricultural and industrial production.”
He added, "Trade activity and the situation are almost at a standstill in Iraq as a result of the fluctuation of the exchange rate of the dollar against the Iraqi dinar, meaning more like an economic recession, in addition to the impact of international events."
Iraq is witnessing high inflation rates, but the Ministry of Planning considered it “logical” 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. According to the Ministry of Planning
Nouri pointed out, “The impact of the decline in crude oil prices on the implementation of the operating budget, especially employee compensation and pensions, as well as the implementation of projects that are already difficult to implement during the remainder of the year 2023.”
The prices of the dollar recorded, this evening, Saturday, with the closure of the Al-Kifah and Al-Harithiya stock exchanges, 159,750 dinars against 100 dollars, while the prices this morning were 160,100 dinars against 100 dollars.
Until the selling prices in the exchange shops in the local markets in Baghdad decreased, as the selling price reached 160,750 Iraqi dinars for 100 dollars, while the purchasing price reached 158,750 dinars for 100 dollars.
From: Raghad Dahham
[You must be registered and logged in to see this link.]
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