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Iraqi News Friday AM 3-5-21

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Economist: In The Short Term, Do Not Direct The Return Of The Old Exchange Rate Of The Dollar

Friday 05, March 2021 13:00 | Economical Views: 295  Baghdad / NINA / Economist Saleh Al-Hamashi confirmed that: The continuous rise in the price of a barrel of oil will end the current budget deficit.

He told the Iraqi National News Agency ( NINA ) that: The rise in the price of a barrel of oil and its reaching gradually higher levels will revive the economy and provide funds for investment and ending the stalled projects.

Al-Hamashi added that: The decrease or rise of the exchange rate is a government policy to revitalize the economy, save money, and reduce the deficit in light of the high price of oil, and there is no short-term direction to return to the old exchange rate.

The Law Calls For A Return Of The Exchange Rate And Affirms: The Government’s Economic Policies “Have Failed”

Today, Friday (March 5, 2021), the parliamentary law bloc demanded that the exchange rate of the dollar be restored to its previous level, while it confirmed the failure of the government’s economic and financial policies.

The bloc said in a statement, that it “calls on the Presidency of the Parliament and the Finance Committee to adopt the previous exchange rate of 119 thousand in the 2021 Budget Law, because of the negative effects of raising it that cast a shadow over the life of the simple citizen, with the lack of job opportunities and the absence of any indications of revitalizing the economy before. the government”.

The bloc emphasized, “With high oil prices and good financial returns, the weakening of the Iraqi dinar against the dollar is no longer justified, especially since the economic recession prevails and the financial and economic policies adopted by the government have not seen any positive effects on the ground. Rather, we witnessed difficulties and problems that caused harm. Citizen and overburdened him. ”

The parliamentary law called on all members of the House of Representatives to “take a position that does justice to the vulnerable groups and the poor classes in society, and calls on the government to adopt fair and realistic policies instead of aggravating social and economic conditions and burdening the citizen with more hardships and harms.”

Representative Economic: The Conditions Are Ready To Adjust The Exchange Rate And The Oil Barrel In The Budget

Author: AhadNA3 On 3/5/2021 – 2:46 PM 119  A member of the Parliamentary Economic and Investment Committee, Mazen Al-Faili, confirmed today, Friday, that the conditions are ready to adjust the exchange rate of the dollar against the Iraqi dinar, as well as the price of a barrel of oil in the draft Federal Budget Law for the year 2021.

Al-Faily said, “The conditions are in place to restore or reduce the exchange rate of the dollar. In front of the Iraqi dinar in the draft budget, but it is difficult to achieve this in light of the completion of the draft formulation, discussion and study in the Parliamentary Finance Committee. Therefore, we need to reformulate the project and this is not possible.

He added, “There is a tendency to raise the price of a barrel of oil in the draft budget law in view of the high prices in the global markets,” stressing that “the current price contributed to the availability of large financial revenues for the state.”

The First Deputy Speaker of Parliament, Hassan Al-Kaabi, had called on the Ministry of Finance to amend the exchange rate of the dollar, because citizens were harmed by the current price.

Parliamentary Finance: Kurdistan Has Not Made Promises To Deliver Its Oil To Sumo Because It Is Unable To

Money  and business  Economy News _ Baghdad  The Parliamentary Finance Committee confirmed, on Friday, that the political blocs had not reached any agreement regarding the share of the Kurdistan region within the draft federal budget law for 2021.

A member of the committee, Siham Al-Aqili, said in a press interview, “The Finance Committee has completed all budget items leaving only the share of the Kurdistan region,” noting that “the point of disagreement revolves around the delivery of oil to the National Sumo Company.”

She added that “the region has not made any real promises to deliver oil to Baghdad, and this is what prompted the political blocs to insist on delivering oil via SOMO,” indicating that “the Kurdistan government is unable to deliver oil because of its foreign obligations with a number of countries.”

Number of observations 195, date of addendum 03/05/2021

The Central Bank Approves The Opening Of A Branch In Najaf And The Governor Announces An Increase In The Housing Loan To 125 Million Dinars While Reducing Interest Rates

Thursday 04, March 2021 23:08 | Economical Views: 847  Najaf / Nina / The governor of Najaf Al Ashraf, Louai Al-Yasiri, announced the approval of the Central Bank to open a branch in the governorate with the announcement of an increase in housing loans and a reduction in the value of interest, especially on the advance of 100 salaries for employees.

In a press statement, he said that he had met with the Governor of the Central Bank, Mustafa Ghaleb Mekhaif, to discuss a number of important economic files.

Al-Yasiri indicated that “the governor of the Central Bank agreed to increase the housing loan to 125 million dinars without financial benefits for all beneficiaries of investment housing projects in the governorate.”

He added, “It was approved to open a branch of the Central Bank in Najaf to facilitate obtaining bank loans on the plots of lands allocated by the Najaf municipality.”

He continued, “It was also approved to open a branch of the Rafidain Bank within the municipality of Najaf, for the purpose of facilitating the auditors’ cash transactions, and the official book on this matter was issued.

Al-Yasiri concluded by saying that the Central Bank Governor also approved the decision to reduce the value of the benefits resulting from the advance of the hundred salary granted to employees and convert them to symbolic. / End

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