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More Iraqi News Iraqi News Sunday PM 3-21-21

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Iraqi Trade Calls On Citizens Not To Buy Too Much For Ramadan: Wait For These Days

Sunday 21 March 2021 | 02:32 PM| Views: 306   On Sunday (March 21, 2021), the Ministry of Commerce called on citizens not to buy heavily in preparation for the month of Ramadan, asking them to “wait” for the ration card items to be distributed . “The Ministry of Trade has confirmed on more than one occasion that the failures in providing the ration for the previous year, and the years before it, are caused by the lack of financial allocations and the financial crisis in the country, ” said the trade spokesman, Mohamed Hanoun .

And, “the allocation for the years 2011-2014 was 6 billion dollars, and the financial allocation for 2020 was 400 million dollars, and this is only sufficient for 3 items for 3 months .” He pointed out that “the ministry has submitted reports, more than once, to resolve the crisis, with the need to increase financial allocations and cancel contract instructions to the government regarding the ration card, and approval has been obtained to cancel the approval of paragraph 1/12 in dealing with the government budget .”

He explained, “10 days ago, the ministry contracted to buy sugar, flour and edible oil, and we will notice a relatively clear decrease in the prices of foodstuffs .”

And he added that “the ministry prepared the logistical preparations for the month of Ramadan,” calling on “citizens not to intensively purchase from the market, waiting for the vocabulary to be distributed for the month of fluorescence during the 28th or 27th of this month .”

Food Prices Increased More Than Expected 

Sunday 21st March 2021 65 Baghdad: Hussein Thahab  The local markets have indicated a rise in food prices, which raises the concern of the Iraqi family and the economic community, due to the shock devaluation of the currency, away from the balanced gradient of such trends in order to protect the local market from confusion. Economic expert Salah al-Shami confirmed that “devaluation of the currency in this way is like a shock to the local market,”

pointing out that “economic circles are not against the decision, but against its issuance in this way, which had an impact on all joints of the local market, as such a decision requires that it be gradual and subject To be evaluated every three or six months, after which the appropriate decision is taken to devalue the currency or not. Al-Shami pointed out that «the devaluation of the currency is supposed to be in successive stages and to start from 1,300 dinars per dollar, and in this way we reduce the market’s vulnerability to the reduction’s decision.

Local markets

Business Union member Dr. Ali Al-Masoudi said: “The rise in foodstuff prices in the local markets is natural, especially since most of the market’s supplies are imported from foreign markets, and transactions are carried out in US dollars, and it is natural for prices to rise after the decision to devalue the national currency.”

He pointed out that «the rise in the prices of local products came because the raw materials are imported from foreign markets, which in turn witnessed a rise in prices, and this was reflected in the reality of the prices of the final product inside the factory, which led the factory owners to raise the price of the product,» indicating that “The decision to devalue the currency in this way needs to be reviewed by the authorities Concerned »


In turn, a member of the Iraqi Economists Association, Ikram Abdul Aziz, confirmed that «the increase in food prices more than expected, especially for products that are manufactured locally, comes due to the import of raw materials for most of them from outside the country, which requires that we go towards achieving integration in the national industry through hard work. On interest in manufacturing industries and investing in local wealth to support national industries »

She indicated, “The importance of the decision to devalue the currency in successive stages to balance the processes of promoting the local market, and to reduce the negative effects that are affecting the economy.Family »  LINK

Al-Kazemi Is Far From Nowruz: We Are Looking Forward To Overcoming The Economic And Health Challenges

Prime Minister Mustafa Al-Kazemi   Today, Sunday (March 21, 2021), Prime Minister Mustafa Al-Kazemi affirmed his aspiration to overcome the economic and health challenges in the country.

Al-Kazemi said in a tweet on Twitter, “We congratulate our Kurdish people, all Iraqis and all those celebrating the Nowruz holidays, and on this happy occasion, we affirm our adherence to the unity of our country and our democratic gains.”

He added, “We look forward to overcoming the economic and health challenges, and for the brotherhood of the Iraqi people in all their spectrums to be a title for a better future.”

Al-Kazemi’s Advisor Confirms: The Chinese Draft Agreement Will Be Implemented According To Iraqi Desire

Economy   Sunday 21 March 2021 | 01:30 p.m.| Views: 74   The Financial Adviser to the Prime Minister, Mazhar Muhammad Salih, confirmed, on Sunday, the start of the process with the Chinese agreement after the vote on the 2021 General Budget Law .

Saleh said in a statement reported by the Iraqi News Agency (INA), “There is funding referred to as the Iraqi-Chinese agreement when the Federal Budget Law 2021 is enacted .”

He added, “The budget law enactment will become the practical approach to initiate the implementation of the agreement by starting the projects that will be undertaken by the Chinese executing agencies and according to the wishes of Iraq and the priorities of its investment projects in construction and reconstruction.”

High Iraqi Oil Exports To America

Energy Economy News _ Baghdad  The US Energy Information Administration announced, on Sunday, that Iraqi oil exports to America rose to 165,000 barrels during the past week.

“The average US imports of crude oil during the past week from six countries amounted to 4 million and 370 thousand barrels per day, down by 364 thousand barrels per day from the previous week, which amounted to 4 million and 734 thousand barrels,” the administration said in a report seen by “Al-Eqtisad News.” “.

And she added, “America imported crude oil from Iraq at a rate of 165 thousand barrels per day, up from the previous week, which amounted to 141 thousand barrels per day.”

And she pointed out that “oil imports to America during the past week came mostly from Canada at a rate of 3,448 million barrels per day, followed by Saudi Arabia, whose imports amounted to 308 thousand barrels per day, followed by Mexico, from which imports amounted to 278 thousand barrels per day.”

According to the administration, “the amount of American imports of crude oil from Ecuador amounted to 127 thousand barrels per day and from Nigeria amounted to 44 thousand barrels per day.”

Number of observations 60 Date of addendum 3/21/2021

Dollar Exchange Rates In Local Markets

Market  Economy News _ Baghdad  Al-Eqtisadiah News publishes the exchange rates of the dollar in local markets on Sunday (March 21, 2021).   The price of the dollar against the Iraqi dinar  Exchange offices prices:

The sale price of the dollar is 146,250  The purchase price of the dollar is 145,250

Number of observations 43 Date of addendum 3/21/2021

Sources: Al-Rafidain Is Studying The Re-Introduction Of Electronic Advances

Time: 03/21/2021 09:33:49 Read: 4,329 times  {Economical: Al Furat News} An informed source revealed that Rafidain Bank is studying the re-work of the electronic submission in granting advances to employees after it was stopped earlier.

The bank had recently stopped, by a decision of the director of Rafidain, who is referred to the investigation {Ali Hussein}, to grant advances electronically and to submit the request manually, which sparked chaos and anger on the part of citizens and employees in addition to their danger in light of the measures to prevent Corona virus.   LINK

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