Finance and Economic: We will take all measures to restore the value of the dinar against the dollar

Finance and Economic: We will take all measures to restore the value of the dinar against the dollar

15/6/2015

Rep. Najiba Najib

Economic Commission called for parliamentary, the central bank to take correct measures to restore the value of the Iraqi dinar against the dollar.

Said committee member Rep. Najiba Najib's PUKmedia , that rising US dollar against the Iraqi dinar many reasons, the most important of the lack of Iraqi state revenues, from the dollar, which relies on revenues of oil, noting that a barrel of oil was sold for $ 111, and this was a good which makes dollar entry in the public treasury more than it now, pointing out that revenue is now less than half a barrel of oil because the best is sold at a price of $ 60.

She MP Najib out there that a major cause for this rise is that banks are fulfilling Deposit tax is estimated at 5% and 3% Komanat customs, while he was supposed to Customs Authority fulfilling their secretariats, and that the taxation departments to impose the tax and completeness of businesses and traders who buying the dollar, pointing out that banks are doing it now, and meet the 8 dinars on every dollar purchase request, noting that it appeared that the tax and customs departments fulfillment of duties and trusts the dollar exchange rate Sahishd decline.

She MP Najib that one of the reasons for the high price of the dollar against the dinar is that the demand is more than supply, due to the security situation after the fall of gray, and the unstable security situation pay merchants and citizens to buy the dollar, and at the same time, the central bank will increase the offer, but is restricted in accordance with the Almoisanh law which obliged to sell 75 million dollars a day, saying that no matter what the bank has increased the supply demand remains more.

MP Najib pointed out that the Iraqi economy's dependence on import without export also one of the reasons for the high price of the dollar against the dinar, warning that the dollar exchange rate will rise more that there was not a wise and correct action by the central bank to raise the value of the dinar against the dollar, stressing that The first thing to do is to re-issue the tax to meet the secretariats and not the competent departments of banks, pointing out that the state wants to increase its revenue by making trusts met with banks.

And the role that the House of Representatives and the Economic Commission for the game, he was deputy Najib said after the legislative recess and direct the new legislative term of the beginning of the end of the month of July, the Commission will take all measures that serve the citizens.

The MP Najib indicated that the committee hosted more than once, the central bank officials, and briefed on their actions, pointing out that despite the central bank measures the desired objective of which can not be achieved and the dollar exchange rate does not decline.

The MP stressed Najib that only affected the high dollar is the ordinary citizen, noting that the dollar is sold in banks at a price of 1200 dinars, while the price in the 1380 market, pointing out that some powerful and some parties are benefiting from this process and the injured are the government and ordinary citizens.

MP Najib stressed that the House and the Economic Commission will take all measures to ensure, in accordance with the Constitution and the law, and in cooperation with the concerned authorities to restore the value of the Iraqi dinar against the US dollar because it affects the lives of citizens.

The exchange rate of the US dollar against the Iraqi dinar, arrived in 1360 dinars to the dollar in the Kurdistan Region and Iraq markets.