Iraqi News Highlights Saturday Evening 6-10-23
Tlm724 Administrator Bondlady’s Corner
Central: Commitment To Strict Currency Financing Instructions Will Significantly Reduce The Exchange Rate
Money and business Economy News – Baghdad Today, Saturday, the Central Bank revealed its plans to raise financial and gold reserves, while noting that adherence to foreign currency financing packages will contribute to a significant decrease in the dollar exchange rate in the coming days.
Al-Alaq said, in an interview with the official news agency, that “packages of instructions for financing in foreign currencies abroad were launched with the launch of the electronic platform,” noting that “the aim of this package is to meet the requests of all the needs of the Iraqi economic sectors in addition to the needs of citizens for travel, treatment and study.” “.
Al-Alaq added, “These packages contributed to organizing a large part of the trade process in Iraq through the entry of various sectors into the official channels of transfer, and mitigated the fluctuations in exchange rates, which at the beginning of the launch of the platform in the market reached approximately 160 thousand dinars per dollar.” “.
He stressed, “There is a significant improvement in the work of the trade financing platform and the cash payment platform, and that proceeding in this framework will contribute to a significant decrease in the exchange rate in the coming days.”
Regarding plans to raise financial reserves and gold in the central bank, Al-Alaq said, “The two most important factors that determine the accumulation and depletion of foreign reserves are external, as the accumulation of reserves is mainly linked to the amount of oil exports and the price of a barrel, while the depletion of reserves takes place through importing goods and services as well as external transfers.” “, stressing that “under normal circumstances, this bank aims to build a sustainable level of foreign reserves while ensuring high liquidity and relatively good returns.”
He continued, “With regard to gold, this bank places increasing its holdings of gold on a high level of importance, and by the end of this year, this bank aims to increase its holdings by at least the equivalent of $500 million.”
Regarding the housing loan initiative, Al-Alaq stated that “housing loans did not stop, as the circular of this bank No. 6/5/988 on 4/27/2023 in paragraph (5) of it indicated the continuation of financing applications submitted to the Real Estate Bank and the Housing Fund within the allocated allocation To them, it is derived after that by reallocating 50% of the total loan installments previously granted, whose total loans financed by the Central Bank through its initiative amount to more than 10 trillion dinars.
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Iraq Is The Third Largest Oil Exporter To America Last Week
Saturday 10, June 2023 08:49 | Economical Number of readings: 360
Baghdad / NINA / – The US Energy Information Administration announced today, Saturday, that Iraq’s oil exports to America rose to become the third largest exporter to it after Canada and Mexico during the past week, while Saudi Arabia ranked last among the top ten exporters to America.
The administration said in a report, “The average US imports of crude oil during the past week from nine countries amounted to 5.297 million barrels per day, up by 191,000 barrels per day from the previous week, which amounted to 5.106 million barrels per day.”
She added, “Iraq’s oil exports to America amounted to an average of 430,000 barrels per day last week, up by 282,000 barrels as a daily average from the previous week, in which oil exports to America amounted to an average of 148,000 barrels per day, and thus Iraq ranks third as the largest oil exporter to America during the week.” the past”.
She pointed out that “most of America’s oil revenues during the past week came from Canada at a rate of 3.504 million barrels per day, followed by Mexico with an average of 647 thousand barrels per day, and oil revenues from Ecuador amounted to 218 thousand barrels per day, and then Nigeria at a rate of 144 thousand barrels per day.”
According to the administration, “the amount of US imports of crude oil from Colombia amounted to an average of 127,000 barrels per day, from Libya 90,000 barrels per day, from Brazil 71,000 barrels per day, and from Saudi Arabia 66,000 barrels per day, while it did not import any quantity from Russia.”/ End8 https://ninanews.com/Website/News/Details?key=1058719
Iraq Has The Sixth Highest GDP Growth Rate
Economy Iraq breaking The year is 2022 GDP growth 2023-06-10 Shafaq News/ Iraq ranked sixth among the countries in the world with the highest growth rate of gross domestic product in the year 2022, according to the American global Finance magazine, which deals with the financial and economic matters of the countries of the world.
The magazine said in a report seen by Shafaq News agency that economic growth is a marathon race, not a sprint, and
while some countries have made plans for long-term progress,
others have wasted their good fortunes and resources.
However, experts have already warned of the so-called “resource curse,” that is, the mismanagement of revenues from oil extraction that has historically been associated with
slow economic growth,
authoritarianism, and a
whole host of social ills.
A country’s GDP can be defined as the total monetary value of goods and services produced within its borders in a year.
According to the magazine, “Iraq ranked sixth among the countries in the world with the highest growth rate of gross domestic product in the year 2022, with a growth rate of 9.7%, up from 5.9% in 2021, up from -15.7%, up from 5.8% in 2020, and up from 4.7% in 2019, indicating that
the growth rate for the past five years amounted to 2.1%.
She explained that “the highest growth rate in the world for GDP in the year 2022 was for Guyana, with a growth rate of 24.1%, followed by Macau, with a growth rate of 15.2%, followed by Barbados, with a growth rate of 11.2%, followed by St. Kitts and Nevis, with a growth rate of 10%. followed by Saint Lucia at a rate of 9.7%.
She indicated that the lowest growth rate in the world for gross domestic product in the year 2022 was the share of Ukraine, where it recorded -35%, followed by Russia -8.5%, followed by Belarus 6.5%, while the data did not include any of the countries of Syria, Lebanon or Afghanistan due to the absence of any statistics. have an official. https://shafaq.com/ar/اقتصـاد/العراق-سادس-على-معدل-نمو-للناتج-المحلي-ال-جمالي