Iraqi News Highlights Wednesday Afternoon 11-9-22
Tlm724 Administrator Bondlady’s Corner
Economist To / Nina /: Reducing The Dollar Exchange Rate Is Not / Impossible / And The Current Time Is Suitable For Monetary Change
Wednesday 09 November 2022 10:15 | Economic Number of readings: 389
Baghdad / NINA / – The economic expert, Raad Twij, confirmed that decreasing the dollar exchange rate is not impossible as he is promoting it, indicating that the current and next two years are the most appropriate time to bring about this monetary change
Twig said in a statement to the National Iraqi News Agency / NINA /: The exchange rate still takes a large part of the attention of political and popular circles, knowing that the increase in the exchange rate was not the source of the monetary authority, but rather it was by the Minister of Finance, so the independence of the Central Bank at that time was questionable,
Therefore, decreasing the exchange rate is not impossible, and this matter becomes a strategic option for monetary policy if the monetary reserve continues to rise, and a restructuring of the Iraqi dinar is carried out in a direction that improves its purchasing power or radically replaces the Iraqi dinar with new values.
He pointed out that “the current and next two years are the most appropriate time to bring about this monetary change.” / End 8 https://ninanews.com/Website/News/Details?Key=1012931
Iraq Achieved A Financial Surplus Of More Than 38 Trillion Dinars In The Past Months
Money and business Economy News-Baghdad
The Ministry of Finance issued the Iraqi state accounts for the month of last September for the fiscal year 2022, which indicated that the volume of financial revenues amounted to more than 122 trillion dinars, and a financial surplus amounted to more than 38 trillion dinars.
According to the data and tables issued by the ministry in the month of November for the accounts of last September, which showed that oil is still the main resource for Iraq’s general budget, reaching 96 percent, which is the same percentage for the past six months, which indicates that the rentier economy is the basis in Iraq’s general budget.
Through the financial tables, it appeared that the total oil revenues for the month of September amounted to 122 trillion and 796 billion and 502 million and 987 thousand and 111 dinars, which represents 96 percent of the total revenues, while the total non-oil revenues amounted to 4 trillion and 958 billion and 597 million and 101 thousand and 636 dinars. 4 percent of the total revenues, indicating that the total expenditures with the advances amounted to 84 trillion and 666 billion and 606 million dinars. 151 views Added 11/09/2022 – 11:36 AM Update 11/09/2022 – 6:21 PM
https://economy-news.net/content.php?id=30690
Banking Companies In Mosul Demand The Central Authorities To Lift The Ban On Their Dollar Transfer Transactions
Wednesday 09 November 2022 13:16 | Economic Number of readings: 230
Mosul / NINA / – The Association of Exchange Companies in Nineveh called for lifting the ban imposed on their dealings in converting the dollar currency, which prevented the Central Bank of Iraq from dealing in the dollar currency since the announcement of the liberation of Mosul.
“The Director of the Association of Exchange Companies Abdullah Khalil said in a statement to the National Iraqi News Agency/ Nina / The Central Bank did not allow all offices to trade in the dollar, stressing that “not dealing with foreign currency has a negative impact on the economy of the city of Mosul.”
He demanded, along with a number of exchange office owners, to allow the return of dealing with the dollar currency in Mosul, provided that security and intelligence monitoring is in place.
https://ninanews.com/Website/News/Details?key=1012988
Oil: We Are Working To Achieve The Highest Financial Revenues
Money and business Economy News – Baghdad Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani affirmed, on Wednesday, work to achieve the highest financial revenues through the marketing and export of crude oil in support of the federal budget.
Abdul-Ghani said, while presiding over the monthly meeting of the pricing of Iraqi crude oil for global markets, according to a statement by the media office of the Ministry of Oil, that “Iraq is keen to deal realistically with the challenges facing the global oil market.”
He added, “Iraq respects the (OPEC Plus) agreement in achieving balance and stability for the global market,” noting that “Iraq’s policy aims to raise the value or financial return of a barrel of oil in a manner that fulfills the wishes of producers and consumers.”
He continued, “We are working to achieve the highest financial revenues through the marketing and export of crude oil in support of the federal budget,” noting that “Iraq is a founding country of the organization and the second largest producer that works to bring the views of the members closer, in order to achieve the producers’ goals in stabilizing the global market.”
He pointed out that “the financial revenues of crude oil constitute 95 percent of the federal budget,” noting that “the pricing meeting in the presence of the minister, agents and general managers of the departments and companies concerned confirms the ministry’s approach to the importance of dialogue and deliberation about collective decision-making on issues and topics related to the economy and the lives of citizens.”
The minister stressed the adoption of the most accurate standards of transparency in the marketing of Iraqi oil and the revenues generated and cooperation with Transparency International, explaining that “the determination of the marketing price of Iraqi oil is carried out on a monthly basis, after studying and reviewing reports, research and challenges surrounding global markets.”
27 . views Added 11/09/2022 – 4:50 PM Update 11/09/2022 – 6:24 PM
https://economy-news.net/content.php?id=30697
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