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Today .. A Noticeable Decline In The Central Bank’s Hard Currency Sales

Economie| 12:54 – 05/02/2021   BAGHDAD – Mawazine News  The Central Bank of Iraq sales of hard currency recorded, on Sunday, a significant decrease / the percentage of sales at the end of last week.

According to the daily bulletin of the Iraqi Central Bank’s auction for the sale and purchase of foreign currencies today, “sales decreased by 8.47 percent, to reach 162 million 293 thousand and 297 dollars, as the bank covered sales at a base exchange rate of 1460 dinars per dollar.”

The daily bulletin indicated that “the purchases amounting to 140 million and 693 thousand and 297 dollars went to strengthen the funds abroad in the form of transfers and appropriations, while the remaining amount of 21 million and 600 thousand dollars went in cash.”

Last Thursday, the central bank’s sales of hard currency reached 177 million and 231 thousand and 378 dollars. Ended 29 / p4   https://www.mawazin.net/Details.aspx?jimare=151833

Dollar Exchange Rate In Iraq For Today

Time: 05/02/2021 10:10:43 Read: 7,709 times   {Economic: Al Furat News} The exchange rates of the dollar against the dinar in Iraq witnessed, today, Sunday, relatively stable, with their price in the previous days.

The exchange rate on the Al-Kifah Stock Exchange in Baghdad was 147,950 dinars against a hundred dollars, while its approximate price in the rest of the exchange was 147,500, and Erbil’s exchange was recorded at 148,200 and Basra recorded 148,000 against 100 dollars.   LINK

Activating The Economic Activities Of Iraq

Sunday 02nd May 2021   194  Baghdad: Exclusive   A member of the Iraqi Federation of Industries, Abdulaziz Al-Khudairi confirmed that «activating economic activity between Iraq and the major economic blocs, is one of the things that contribute to activating economic activities, by investing in advanced technology for investment companies and transferring them to The country ».

He pointed out that “the form of economic relations often determines all other forms of relations, especially the political ones, and that the consolidation of economic relations achieves mutual benefit, which leads to the existence of real political relations that result in benefits for all parties.”

He pointed out that «some major economic blocs wish to strengthen cooperation with Iraq in order to strengthen economic work bonds in a way that achieves benefit. Common.

It is noteworthy that Iraq has commercial relations with many countries of the world, which requires drawing a new map of cooperation that contributes to the development of economic sectors, benefiting from advanced technology and capital owned by specialized international companies.   LINK

Local And International Investments That Achieve Development

Sunday 02nd May 2021   87  Baghdad: Hussein Thahab

The reality of the national economy imposes the orientation towards serious work to activate the investment, which represents the most important directions for achieving development, as it requires trimming all the circles of corruption and complications, which limit the presence of local, regional and international investments that look to the Iraqi labor market and which change the shape of the economy when there is an attractive environment that achieves Competition that serves the national labor market.

A member of the Businessmen Union, Haitham al-Mayali, affirmed that «Iraq is in dire need of an economic recovery plan, which stems from the investment portal in strategic projects to achieve self-sufficiency, and that the government has prepared a detailed plan in the form of stages that take a specific period of five to ten years, where the government sets a plan For self-sufficiency within a specific period of time,

this plan includes the formation of specialized committees in several areas that constitute the largest weight of the various import materials and devices, industrial, food, pharmaceutical, agricultural, military and construction, energy projects, information technology and scientific research laboratories.

Product protection

He also cautioned that “activating the wheel of industry requires a commitment from the government to purchase the product, provided that the investor is committed to producing materials or devices according to the technical specifications approved in the specification table approved by the competent committee and conforming to international specifications,

in addition to the government’s commitment to implement the system of protecting the local product gradually, until Reaching the stage of self-sufficiency by increasing the customs tariff rate on the imported product.

Obscene profit

Calling for «the investor’s commitment not to sell according to the gross profit rates, which constitutes a burden on the citizen or the state. On the contrary, the price of the local product is always competitive, whether it is in the quality of the product or the competitive price, and it is preferable to determine the estimated selling price in the feasibility study.

He stressed “the government’s commitment to setting up a mechanism to supervise the implementation of those projects specifically by specialized committees, and it is okay to seek foreign expertise during implementation and construction until the final product is produced, and to ensure that it conforms to the required specifications, as well as to ensure its implementation within the specified period and to remove obstacles and routine procedures at Relevant departments that prevent its implementation ».

Economic problems

A member of the National Business Council, Ahmed Al-Rikabi, called for the adoption of a new work mechanism that is compatible with the country’s actual need to prevent complicating economic problems more than it is now. He said:

“The global effort is waiting for an opportunity in front of it to enter the labor market, as it searches for safety and an environment free from all forms of corruption, which prevent the implementation of business in its true form. To support and supervise the Single Window from the highest authorities in the country.   LINK

Housing Development Boosts The Dollar Cycle In The Markets

Sunday 02nd May 2021   106 Baghdad: Morning  International economist Muhammad al-Najjar urged to attract the monetary blocks hoarded in homes to the field of work, by creating outlets that attract this money in a direction that brings benefit to both parties to the process.

He said: “The dollar cycle around the world revolves 23 times while inside Iraq it continues three cycles and hoardes, and this matter does not serve the capital cycle in this aspect, and here we can benefit from global experiences, where the citizen works to operate his sums, he does not hoard them. Here, it will benefit the country and its personal economy by adopting sound mechanisms through the stock exchange or investment companies Contribution ».

It is noteworthy that the World Bank reports indicate the existence of a dollar block in Iraq, which does not find access to the economic process that attracts capital this is.

He warned that «the development of the housing sector leads to the creation of a major economic movement and provides many job opportunities for the skilled and unskilled workforce within this sector and in other supportive sectors, and attracts a large proportion of the hoarded cash mass  Iraq”.   LINK

In The Document .. Al-Kalabi Demands That The Questioning Of The Minister Of Finance Be Included In The Next Session

Time: 05/02/2021 16:28:46 Read: 1,755 times   {Politics: Al Furat News} A member of the Parliamentary Integrity Committee, Yusef Al-Kalabi, called for the inclusion of the questioning of Finance Minister Ali Allawi in the next parliament session.  LINK

Oil Announces Statistics Of Exports And Revenues For The Month Of April

Time: 05/02/2021 13:47:35 Read: 2,964 times   {Economic: Al Furat News} The Ministry of Oil announced, on Sunday, the total exports and revenues achieved for the month of April.

In a statement, the Euphrates News received a copy of it, the ministry stated that, “according to the preliminary statistics issued by the Iraqi Oil Marketing Company” SOMO “, the amount of exports of crude oil reached (88) million and (398) thousand and (319) barrels, with revenues of (5) one billion and (525) million and (330) thousand dollars.

” The statistic indicated that “the total exported quantities of crude oil for the month of April from the oil fields in central and southern Iraq amounted to (85) million and (534) thousand and (916) barrels. As for the Kirkuk fields through the port of Ceyhan, the exported quantities reached ( 2) One million and (863) thousand and (403) barrels.

According to the statement, “the average daily exports reached (2) million and (947) thousand barrels, while the average price per barrel reached (62,505) dollars.”   LINK

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