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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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    Iraq imports 90% of its needs.. What is the relationship of local production to the parallel market?

    Rocky
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    Iraq imports 90% of its needs.. What is the relationship of local production to the parallel market? Empty Iraq imports 90% of its needs.. What is the relationship of local production to the parallel market?

    Post by Rocky Sun 22 Oct 2023, 4:48 am

    Iraq imports 90% of its needs.. What is the relationship of local production to the parallel market?
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    Baghdad today - Diyala
    The Parliamentary Finance Committee revealed that Iraq imports 90 percent of its needs, while pointing to the relationship of local production to the parallel market.
    Member of the Parliamentary Finance Committee, Mudar Al-Karawi, confirmed today, Sunday (October 22, 2023), that “the absence of local production has increased the pressure on the parallel market by 50%.”
    Al-Karawi said in an interview with “Baghdad Today” that “the economic conditions in Iraq after 2003 were exceptional in light of pressing challenges that led to the halt of production in 90% of factories and factories, and perhaps the percentage is higher to the extent that the import balance broke the 90% barrier in securing the markets’ needs.” From outside the borders.”  [You must be registered and logged in to see this image.]
    Alarming proportions 
    A member of the Parliamentary Finance Committee points out that it is “a worrying percentage and reflects a major economic challenge and weakness, which is that it is extremely dangerous in the face of any crises.”
    He added, "The absence of local production in light of the import of more than 7,000 different commodities to Iraqi markets has led to pressure on the parallel market for the dollar by no less than 50%, that is, a large portion of merchants and companies, all the way to citizens." 
    He explained that "when the merchant does not find financial liquidity in the dollar through the Central Bank outlets according to the official prices, he is forced to resort to the parallel store."
    He pointed out that "advancing the wheel of production requires a national strategy with government support and funding through a road map that revives the private sector, protects the product, and stops flooding the markets with imported goods by controlling the crossings," stressing that "sufficiency of materials and goods will reduce the demand for the dollar and lead to strengthening the dinar." .
    Support the private sector 
    On (May 3, 2023), the Minister of Industry and Minerals, Khaled Battal, confirmed that one of the priorities of the government of Prime Minister, Muhammad Shiaa Al-Sudani, is to advance the industrial sector. While he revealed a plan to support the private sector, he announced his full support for his ministry to make room for the private sector and not compete with it.
    Battal said, during the activities of the Mineral, Petrochemical, Fertilizer and Cement Investment Conference, that “this conference is the first of its kind held by the Ministry of Industry and Minerals, and we look forward to establishing a real partnership with internal and external private sector companies,” noting that “the current government, headed by the Sudanese, has set among its priorities To advance the Iraqi industrial sector in the fields of mining, fertilizers, petrochemicals, cement and other fields to contribute to achieving the goals of the Iraqi national development plan in terms of increasing the industrial sector’s contribution to the gross domestic product and providing job opportunities and Iraq’s aspirations to achieve the 2030 sustainable development goals through optimal exploitation of mineral and mineral resources.
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