Tlm724 Administrator Bondlady’s Corner
Economists Confirm: The Absence Of A Vision In The 2023 Budget..And Describe It As “The Highest In The History Of Iraq.”
Posted On 2023-01-19 By Sotaliraq Specialists in economic affairs believe that the government has not clarified the economic vision regarding the issue of the price of a barrel of oil, and it will be facing great embarrassment in light of the lack of financial alternatives, especially with the increase in the salaries of state employees within the upcoming draft budget from 42 trillion dinars to 60 trillion, which exhausts To a large extent, the general budget, and constitutes a huge burden on the volume of financial revenues.
The economic researcher, Nabil Jabbar Al-Tamimi, explained that the volume of the budget circulating through some leaks confirms the existence of a huge budget that may be the highest in the history of Iraq, and may exceed the barrier of 200 trillion dinars.
Al-Tamimi added that the operational side of the budget will exceed 80 trillion dinars, reaching more than 100 trillion dinars, which is a very large amount. Usually, these operational budgets govern government spending, and that the price of oil is $57 per barrel as a minimum to enable the government. to provide these budgets.
The economic researcher explained that the decision-maker in Iraq does not realize the magnitude of the economic effects of the huge budgets that may contribute to increasing inflation in prices in one way or another.
Al-Tamimi expected that the implementation of the budget would be disrupted during the coming period if the crisis continued for several months to come, and that the treatments would require additional time, which would prompt the central bank to print more local currency during the coming period, to strengthen the government’s accounts, which is a risky measure.
He pointed out that the government will rely in the budget on a fixed exchange rate of 1,460 dinars per dollar, and the government may assume an oil price between 60-70 dollars per barrel, which is a speculative price based on the lower limits of oil price expectations. LINK
Five Sessions For The Iraq Market.. More Than 25 Million Shares Traded, With More Than 26 Million Dinars
Thursday 19 January 2023 16:38 | Economical Number of readings: 194 Baghdad / NINA / – During the third week of January, the Iraq Stock Exchange organized five trading sessions, from Sunday to Thursday.
And he mentioned in a statement: The number of shares traded during this week amounted to more than (25) billion shares, with more than (26) billion dinars.
He added that the trading index in the market closed for the first session of the week at (597.27) points, while the index closed at the end of the week at (606.56) points, achieving an increase of (1.53%) over its closing at the beginning of the session.
He explained: More than (3100) buying and selling contracts were executed during the week on the shares of the companies listed in the market./End3
The Dollar Crosses The Threshold Of 160,000 Dinars In The Local Markets
Economie| 10:20 – 01/19/2023 Baghdad – Mawazine News Today, Thursday, the exchange rates of the dollar witnessed an increase in the local markets. Selling price: 160,200 dinars per 100 dollars Buying price: 160,000 dinars per 100 dollars https://www.mawazin.net/Details.aspx?jimare=217019
Rashid: Iraq Has Enough Capital To Advance The Country
Thursday 19 January 2023 16:03 | Economical Number of readings: 261 Baghdad / NINA / – The President of the Republic, Abdul Latif Jamal Rashid, affirmed that Iraq has enough capital to advance the country.
He said in the dialogue session on the Middle East in Davos: What we lack in the Middle East is the financing of private projects and the lack of opportunities in the private sector.
Rashid added: We have to modernize banking legislation and develop the private sector, which is currently missing in the country, indicating that the government has begun to modernize and encourage the private sector./ End 3 https://ninanews.com/Website/News/Details?key=1027671
The Iraqi Fans Address Al-Sudani From The Basra Stadium: “The Dollar Has Gone Down.”
Thursday 19 January 2023 18:42 | political Number of readings: 134 Baghdad / NINA / – The Sports Republican present at the Trunk of the Palm Stadium addressed this evening, Thursday, the Prime Minister, Muhammad Shia’a Al-Sudani, by reducing the exchange rate of the dollar in the local market.
It is noteworthy that the price of the dollar jumped today to 165 thousand dinars./ Ended8
https://ninanews.com/Website/News/Details?key=1027721
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