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Representative Finance: The Scheduling Of Exchange Rates Is Not Subject To Monetary Policy

Author: AhadNA4 On 5/16/2021 – 5:21 PM 207

On Sunday, the Parliamentary Finance Committee described setting up a schedule of the dollar’s exchange rate as it is now for four years as “illogical”.

A member of the committee, MP Muhammad al-Shabaki, said in a statement followed by Al-Ahed News, that “setting a schedule for four years to restore the dollar exchange rates to normal is illogical and contains many inaccuracies,” indicating that “the scheduling of exchange rates is not subject to monetary policy.”

He added, “The increase in exchange rates was part of the government’s monetary policy to fill the deficit in some economic areas, and this matter cannot be generalized to the rest of the years.”

He pointed out that “the determination of exchange rates and monetary policy shall be annually according to the needs of the state.”

The Largest Power Plant In Iraq Is Preparing To Enter Service

Energy   Al-Aqsad News _ Baghdad   Wasit Governorate announced, on Monday, the imminent completion of the maintenance of all generating units of Al-Zubaidiyah Thermal Power Station and bringing them into service with full design capacity of 2540 megawatts, which is one of the largest stations in the country.

Wasit Governor Muhammad Jamil Al-Mayahi said in a statement seen by “Al-Eqtisad News”, that “the technical and engineering staff of the Ministry of Electricity reached 80 percent of the campaign for the maintenance of the obstetric units in the Zubaidiya electrical thermal station, and it is hoped that the current week will witness the completion of the maintenance and introduction of all obstetric units. For the service after linking it within the national network.

Al-Mayahi stated that “the station is currently working with local fuel extracted from the Ahdab oil field and not with imported fuel, after the completion of the pipelines for transporting fuel to operate them with two lines, the first was allocated to transport liquid fuel and the second to transport gaseous fuel.”

He added, “In the event that the station’s maintenance is completed, it will produce 2540 megawatts, which will contribute to giving the governorate its full share of electrical energy and achieving self-sufficiency not only for homes, but also for factories and agricultural projects.”

Number of observations 1759 Date of addendum 05/17/2021

The High Price Of The Dollar In The Iraqi Market

Pratha News Agency123 2021-05-17   The exchange rate of the dollar rose today, Monday, against the Iraqi dinar on the main stock exchange in the Iraqi capital, Baghdad.

Today, the Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 148,500 Iraqi dinars for 100 US dollars.

The selling and buying prices increased in the exchange shops in the local markets in Baghdad, where the selling price reached 149,000 dinars, while the purchase price reached 148,000 dinars per 100 dollars.

Decision-Makers In The Country

Monday 17, May 2021 10:12 | Economical Views: 371  Baghdad / NINA / The expert in economic affairs, Raad Twig, said that excluding Iraq from the International Davos Forum held last month is a wake-up call for decision-makers in the country.

Twig said in a statement to the Iraqi National News Agency / NINA / that “the Davos International Forum is a global economic forum that discusses economic developments in the world, and the exclusion of Iraq from it for the lack of quality education, whether at the level of higher and primary education, represents a warning bell for decision-makers in the country, so institutions must Al-Iraqiya should not listen to this warning, update economic policies, and change the essence of education in Iraq in order for it to be productive education. ”

He added: “In practice, the quality of education is the first step towards building an economy that can support 40 million people, which will double to 80 million after two decades, and this represents a wake-up call for decision-makers in the country to put the right man in the right place in the leadership of distinguished economic and educational institutions. Stereotyped. ”

Twig stressed “the necessity to search for scientific methods to start from the state of immersion in the static and monotonous economy, and to launch a major economic process to obtain high growth rates equivalent to the high population growth rate”, indicating: “The projections for annual growth rates in Iraq indicate 1.8%, and it is necessary.” From the acceleration of major, immediate, real and realistic economic development, and the necessity of keeping political interference away from economic reality.

He continued, “Improving the quality of education is not by training a number of students on specific exams, but by spreading knowledge collectively to the Iraqi community as a whole and not in a piecemeal fashion, and that will have an economic impact on society, which will raise the name of Iraq high in Davos and other forums.” / End 8

Oil Prices Record A New High

Pratha News Agency100 2021-05-17 Today, Monday, oil prices increased due to instability in the Middle East region, after Israel launched a major attack on the Gaza Strip, which threatens its expansion and its impact on the surrounding oil-rich areas, but a new wave of Covid-19 restrictions in Asia raises concerns From low demand.

Brent crude futures rose 5 cents, or 0.08%, to $ 68.77 a barrel by 05:36 GMT, while West Texas Intermediate crude increased 7 cents, or 0.1%, to $ 65.42.

The two decades jumped about 2.5% on Friday and were able to make slight gains last week, marking the third consecutive weekly increase.

Tensions increased in the Middle East after Israel launched a major attack on the Gaza Strip, threatening a war that could expand in the region and threaten foreign companies operating in the oil fields in the region and stop them from working.

However, the recovery of the main US pipeline network from supply concerns and a new wave of Covid-19 restrictions in Asia has brought back fears of reduced demand.

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