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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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    Economic: Raising the interest rate will reduce real estate prices

    Rocky
    Rocky
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    Economic: Raising the interest rate will reduce real estate prices  Empty Economic: Raising the interest rate will reduce real estate prices

    Post by Rocky Sat 11 May 2024, 7:20 am

    Economic: Raising the interest rate will reduce real estate prices 

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    Economy News - Baghdad
    Economist Saif Al-Halafi confirmed today, Saturday, that reducing real estate prices in Iraq requires the Central Bank to raise the base interest rate. 
    The Central Bank of Iraq raised the interest rate to 7.5% from 3% to confront high inflation in the country. 
    Al-Halafi told Al-Iqtisad News, “The Central Bank of Iraq must address more than one goal at the same time, which is price stability, combating inflation, which has reached 4.5% in Iraq, and employment policy and maximizing jobs.”
    He added that raising the base interest rate would contribute to cooling the economy, especially the hottest housing sector represented by the insane rise in house prices in Baghdad and the rest of the provinces, noting that the Iraqi economic situation suffers from problems, most notably the rise in unemployment to 17% and poverty reaching more than 30 percent. %. 
    Al-Halafi stressed that the financial policy of the “Ministry of Finance” is absent, while it has a major role in combating inflation, by imposing taxes on those with high incomes and large financial entities and repurposing tax receipts, pumping them and distributing them to those who deserve them from the poor and middle classes of the Iraqi people, and this will reduce Pressure on the government to demand an increase in government employment wages to address the high cost of living and the high price bill for food baskets and consumer goods.”




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