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.

Join the forum, it's quick and easy

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

Would you like to react to this message? Create an account in a few clicks or log in to continue.
Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    The Sudanese advisor reveals the amount of cash flow.. Is it related to delayed salaries?

    Rocky
    Rocky
    Rocky
    Admin Assist
    Admin Assist


    Posts : 278941
    Join date : 2012-12-21
    • Post n°1

    advisor - The Sudanese advisor reveals the amount of cash flow.. Is it related to delayed salaries? Empty The Sudanese advisor reveals the amount of cash flow.. Is it related to delayed salaries?

    Post by Rocky Mon 03 Jun 2024, 5:33 am

    The Sudanese advisor reveals the amount of cash flow.. Is it related to delayed salaries?

    [You must be registered and logged in to see this image.]



    [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]


    Economy News - Baghdad
    [rtl]Mazhar Muhammad Salih, economic advisor to Iraqi Prime Minister Muhammad Shiaa al-Sudani, denied reports indicating that the delay in salaries was due to a shortage in the country’s monetary supply.[/rtl]
    [rtl]In recent weeks, the media has circulated statements by representatives and experts who believed that Iraq does not have sufficient liquidity to secure salaries for employees, retirees, and beneficiaries of the social protection network.[/rtl]
    [rtl]They attributed their statements to speculation by merchants and some officials in the currency, and the smuggling of the dollar out of the country, which caused the monetary mass to lose its balance, which led to the printing of money in order to restore balance.[/rtl]
    [rtl]"Financial liquidity covers salaries"[/rtl]
    [rtl]Mazhar Muhammad Saleh said, "The issue of delayed salaries has nothing to do with the news indicating a shortage of financial liquidity at all."[/rtl]
    [rtl]He explained that "the reason for delayed salaries, if they occur, is accounting and auditing procedures, that is, accounting bureaucracy, and what is said otherwise is not true and heresy."[/rtl]
    [rtl]Mazhar Muhammad Saleh, confirmed that “the Central Bank of Iraq has the ability to issue cash as easily as possible,” indicating that “departments, ministries, and institutions submit a trial balance every month in terms of expenses approved in the budget rules, and there may be a decrease, not an increase.”[/rtl]
    [rtl]The economic advisor to the Iraqi Prime Minister noted that "there are a thousand disbursement units between ministries and departments that provide the trial balance, show the financial position that requires replenishment, and go to the General Accounting Department for auditing."[/rtl]
    [rtl]“We do not have an electronic system, but it has been implemented recently, and if it is operational, we will not need paperwork, and this electronic system will solve many problems in this aspect,” according to Mazhar Muhammad Saleh.[/rtl]
    [rtl]"100 trillion dinars, the size of the monetary masses"[/rtl]
    [rtl]As for the size of the monetary mass in Iraq, Mazhar Muhammad Saleh pointed out that “liquidity in circulation outside the central bank, whether in banks or individuals, is approximately less than 100 trillion dinars, and what is in the central bank is about 25% of this liquidity according to estimates.”[/rtl]
    [rtl]It is noteworthy that the Ministry of Oil provides the Central Bank of Iraq with monthly financial revenues from crude exports in US dollars, so that the bank in turn sells them in the market in local currency, and then transfers them to the Federal Ministry of Finance in order to finance the monthly salaries.[/rtl]
    [rtl]Recently, Prime Minister Muhammad Shiaa Al-Sudani stated in a press conference that he had taken decisions to increase allocations for minimum salaries, confirming that decisions regarding the salary scale would be amended at a later time.[/rtl]
     


    Views 85
    Added 06/03/2024 - 12:04 PM
    [You must be registered and logged in to see this link.]
    • Back to top
      Current date/time is Sat 12 Oct 2024, 10:46 am