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More Iraqi News Tuesday AM 1-2-20

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Parliamentary Finance announces the date of the first reading of the Budget Law in Parliament

Time: 01/05/2021 16:32:14 Read: 2,002 times   {Baghdad: Al Furat News} The Parliamentary Finance Committee announced, on Tuesday, the date of the first reading of the General Budget Law in the House of Representatives.

A member of the Parliamentary Finance Committee, Ahmad Al-Hajj, told {Al-Furat News} that “it is hoped that the House of Representatives will present the general budget for 2021 to the first reading next Saturday,” noting that “the law is still in the presidency and it has not been presented or viewed before.” Parliamentary Financial Commission.

He added, “The talk about deductions in the salaries of employees is not clear because the budget has not yet been presented,” stressing that “after the first reading, the law is referred to the Finance Committee, with the participation of the Parliament and the legal committees, as they are both supported.”  Regarding the budget’s inclusion of cuts in the salaries of employees, he said, “The committee did not look at the budget items, and that it has a position after reviewing it.”   LINK

The Central Bank’s Dollar Sales Increased Today After A Record Low

Time: 01/05/2021 13:17:25 Read: 4,277 times   {Baghdad: Al Furat News} The Central Bank of Iraq’s dollar sales rose today, Tuesday, slightly after yesterday’s decline in an unprecedented way and to the lowest level in years.

According to the bank’s daily bulletin on the currency auction on Tuesday, the total sale for purposes of strengthening funds abroad {remittances, credits} 11 million and 875 thousand dollars, while cash sales reached 500 thousand dollars.

The bank sold $ 8 million yesterday, the lowest in years.

The central bank sells dollars for the sums transferred to bank accounts abroad at a price of {1460} dinars per dollar, and cash sales at {1460} dinars per dollar, in implementation of its recent decision to raise the exchange rate. LINK

The Dollar’s Exchange Rate Rise Today

Time: 01/2021 11:20:40  Read: 10,283 times   {Baghdad: Al Furat News} The exchange rate of the dollar rose in Iraq today, Tuesday.   The exchange rate on the Al-Kifah and Al-Harithiya Stock Exchanges in Baghdad was 1439 dinars, or 143 thousand and 900 dinars per hundred dollars.  Yesterday’s price in Baghdad was 1436.5 dinars.

.As for exchange office prices, they also decreased to 1450 dinars for sale and 1430 dinars for purchase.

In the governorate of Erbil, the dollar rose to 1,438 dinars for sale, and in Basra 1,437 dinars.   LINK

The Stock Market Continues Its Decline In The Tuesday Session

Iraq Stock Exchange  Market   Economy News – Baghdad   The stock market index continued its decline, on Tuesday, after losses made by 8 companies.

The Stock Exchange decided not to organize a trading session for tomorrow, Wednesday, on the occasion of the centenary of the establishment of the Iraqi army.

The index decreased by 1.21%.

And 596.5 million shares were traded, worth 706.1 million dinars.

The shares of 8 companies provided by the ready-to-wear shares decreased by 4.96%, followed by the shares of Baghdad for soft drinks by 4.81%.

While the shares of 7 companies provided by the shares of Bank Across Iraq increased by 8.57%, followed by the shares of the Mosul Bank Company by 7.69%.

Foreign investors sold 44 million shares at a value of 67 million dinars, after executing 37 deals on shares of three companies.    Number of observations 108, date of addition 01/05/2021

https://economy-news.net/content.php?id=23490

 

The Appearance Of Muhammad Saleh: The Stability Of The Currency Exchange … The Goal Of Monetary Policy In Combating Inflation

Tuesday 05, January 2021 10:49 | Economical   Views: 329   Baghdad / NINA / The financial advisor to the prime minister, Mazhar Muhammad Salih, affirmed that: The stability of the currency exchange … the goal of monetary policy in combating inflation.

He told the Iraqi National News Agency ( NINA ) that: Iraq’s fiscal policy differs from other countries, as most of the foreign currency flowing into the economy is from one source, which is oil, and the only foreign currency is the central bank.

Saleh added that: The central bank’s intervention must be continuous, selling daily to keep the demand for the dollar met, and then the exchange rate stability.

He explained that: The intervention force is strongly governed by the Central Bank’s foreign exchange reserves and its intervention in the market, mainly to sell, to maintain stability in the exchange rate.

Saleh indicated that: Jordan, for example, has inflows in foreign currency through market activity, and that the market’s reserves of foreign currency are influential and not underestimated, and that the state or the central bank intervenes in those countries to control the exchange rate and its stability.   ttps://ninanews.com/Website/News/Details?key=880035

Representative economy: Approval of the partnership law between the private and public sectors will eliminate 50% of unemployment

Money  and business  Economy News _ Baghdad  The Parliamentary Economic and Investment Committee will hold its consultative session next week to discuss the partnership law between the private and public sectors, indicating that the law’s obstacles include how to preserve the state’s assets and separate them from the investor or partner, while confirming that the passage of the law will eliminate 50% of unemployment.

Committee member Nada Shaker Jawdat said in an interview with Al-Sabah newspaper, which was seen by Al-Iktissad News, that the bill contains many obstacles that hinder its legislation. Among them is how to clearly guarantee the rights of the state and separate them from the rights of the investor, indicating that it is possible to use the laws of successful partnership in force in the countries of the world, as “partnership” must depend on whether the investor or partner of the state has a specialization.

Jawdat added that the committee will meet with specialists from the Ministry of Planning and members of the Parliamentary Finance Committee to discuss the law from both legislative and practical sides, stressing not to re-experiment with failed industrial sector partnerships that were neglected due to partisan interference in their mechanisms and led to its destruction rather than its revival.

Number of observations 181 Date added 01/05/2021   https://economy-news.net/content.php?id=23473

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