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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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    Turkish inflation and its impact on food prices in Iraq

    Rocky
    Rocky
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    • Post n°1

    Turkish inflation and its impact on food prices in Iraq Empty Turkish inflation and its impact on food prices in Iraq

    Post by Rocky Sat 04 May 2024, 5:07 am

    Turkish inflation and its impact on food prices in Iraq

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    Economy News - Baghdad
    [rtl]Economist Manar Al-Obaidi reported that the inflation rate in Turkey has reached record levels, having exceeded 70% compared to last year, which led to a significant increase in the prices of goods and services, indicating that this rise in inflation heralds an increase in production costs and thus an increase in selling prices to consumers. .[/rtl]
    [rtl]Al-Obaidi noted in a blog post on Facebook, followed by “Al-Iqtisad News”: “In the first quarter of 2023, Iraq imported 55 thousand tons of poultry meat from Turkey, worth $101 million, while in the first quarter of 2024, the imported quantity decreased to 52 thousand tons.” But at a high value of 116 million US dollars, which reflects the significant increase in prices.”[/rtl]
    [rtl]Al-Obaidi said, “This inflation in prices has two effects: “Negative is the rise in prices of food commodities in Iraq and increased inflation rates, and positive is the creation of a competitive environment for Iraqi products that may compete with Turkish products, especially in the food sector.”[/rtl]
    [rtl]Al-Obaidi pointed out “the importance of the state’s role in encouraging and supporting Iraqi food industries, especially in light of the high inflation that Turkey is witnessing.”[/rtl]
    [rtl]It is recommended to “create a special fund to support local products or reformulate the Export Support Fund Law to include support for specific industries, which will contribute to encouraging industries, creating job opportunities, and reducing the consumer bill, in addition to improving and stabilizing the production environment in Iraq.”[/rtl]


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