Prevent the import of luxury goods stimulates the private sector calls to abolish the central bank a

Prevent the import of luxury goods stimulates the private sector calls to abolish the central bank auction to halt the depletion of hard currency and gangs of corruption constitute a bloc to oppose the deal with the financial crisis measures

January 12, 2016

Observer Iraq - Salam al-Zubaidi

in light of the continued erosion of oil prices and expectations of lower value of the Iraqi dinar against the dollar, still the country is losing millions of dollars in hard currency, because of its reliance mainly on imported, and the continuation of the central bank to sell foreign currencies to traders, where the transformation of such funds to goods are imported from abroad after obtaining the traders on the dollar from the central bank, which means the loss of Iraq's currency and the difficult loss, mostly because of the failure to invest that money within the country's borders.

Therefore calls for specialists in economic affairs to the need to invest that money in the country, to maintain the hard currency and stimulate the private sector, which can Iraq to reduce the severity of the economic crisis experienced by the result of the sharp deficit in the public budget due to the fluctuation of oil prices.

stressing that the preservation of hard currency is not without preventing goods imported from abroad, and the abolition of the auction Currency traders dollar grant prices relatively lower than the local market price, and contribute to the foreign exchange loss for the country.

While he saw parliamentarians that there is evil political parties opposed to cancel the auction of currencies, arguing that those actors involved the process of corruption and the smuggling of hard currency abroad, under the cover of law or through cooperation with some traders and users, calling for the need to impose taxes on imported from abroad to protect domestic product and the conduct of the economy wheel in the country.

So confirmed member of the parliamentary Economic Committee MP Najiba Najib said in a statement summed up by the "Iraqi observer" to sell the currency at the central bank auction needs to be controlled government to avoid the smuggling of such funds abroad, pointing out that sales in the auction are not forms in which if it was control, monitoring and auditing of transactions offered to buy the dollar.

It pointed out that, before the legislation money laundering law, many foreign currencies were smuggled to business operations unrealistic.

showed Najib Ban local product protection is very necessary to solve the current economic crisis, and there are several ways the government can work out to reduce the Almistord..mnha labor law of customs tariffs and the imposition of high taxes on imported goods and food, in addition to the local product, with the imposition of censorship on the market support to prevent lifting prices by the weak people to come back negatively on Moatn.aly level himself accused the MP for the coalition of state law Zainab Arif visual, whales corruption of politicians to form opposition to the abolition of the central bank auction block, saying in a statement: "Iraqi observer" I got a copy of it, that it will cause the loss of Iraq hundreds of billions, stressing that "personal interests ahead when some politicians on the interests of the people," Ban, adding "the formation of such a bloc will cause a loss of Iraq hundreds of billions", claim to "the gradual and simple reduction of the auction Central Bank, which does not exceed the limits of the difference between the price the market and the price of the central bank.

"visual and called for the speedy enactment of" Where did you get this? ", especially that most of the officials and party leaders are above the law.

recalls that economists have warned of the continuation of the central bank to sell the currency to traders and shops, banking, because most currencies difficult for the country to invest outside the border which means the loss of Iraq millions of dollars of hard currency.