The Dinar Daily, Tuesday January 6, 2015
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  1. #1

    The Dinar Daily, Tuesday January 6, 2015





    The Exchange Rate of Foreign Currency in Economic Feasibility Studies

    Below are the central controls related to the exchange rate of the foreign currency to convert the project inputs and outputs from foreign currency to its equivalent in the local currency, and that is by calculating the net discounted present value standard and the internal return on investments in economic analysis that governs investment projects that costs excess one million dinars.

    Estimate the shadow price of foreign currency:

    1. It is necessary to put central controls to amend the official exchange rate * to reflect the shadow price of the foreign currency, and that is considered one of the necessary requirements to implement the net discounted present value standard and the internal return rate on investment in the economic calculation stated in the instructions, paragraph nine.

    The central controls for adjusting market prices distinguished a group of outputs and inputs traded internationally, where the projects production or usage of them is reflected on the abundance of foreign currency in the economy and thus project outputs or inputs used of such are considered purely foreign currency outputs or inputs.

    * What is meant by exchange rate: the number of units of foreign currency, expressed in dollar per one dinar.In particular the following outputs and inputs of foreign currency were distinguished:


    • Export-outputs.
    • Outputs marketed locally that substitute imports.
    • Imported inputs.
    • Inputs produced locally that usually go to exports.
    • Foreign labor.


    According to the pricing rules the value of the output and input (traded) is calculated using export prices (FOB) and import prices (CIF), according to what is listed in the pricing rules.

    In other words the pricing rules calculate what the project produces from foreign currency (quantity of exports multiplied by the export price (FOB) in foreign currency or the quantity of substitute imports multiplied by the import price (CIF) in foreign currency, as well as what the project uses from foreign currency and imported inputs multiplied by the import price (CIF) in foreign currency …. etc.).

    In a later step, project outputs and inputs must be converted from the foreign currency to its equivalent in local currency (dinars) by using a specific exchange rate for the foreign currency.

    2. Justifications for exchange-rate adjustment: there are a number of important and powerful arguments which support the view that the official exchange rate reduces the real value of foreign currency for purposes of calculating the economic national profitability for investment projects and hence for the purposes of investment planning. It is demonstrated in this context to call for assessing the dinar for less than (3.208) dollar (official exchange rate) when assessing project outputs and inputs of traded goods of exports, substitute imports and imports… etc.

    The justifications to call for the use of an exchange rate that is lower than the official exchange rate are:


    • The use of an exchange rate that is lower than the official rate is the appropriate action at the investment planning level to translate the country’s economic strategy aiming at stimulating central investments in the sectors that encourage the development of non-oil exports, as well as sectors that encourage the expansion of domestic production base in order to reduce imports and compensate it with local commodities. This helps to reduce reliance on foreign exchange earnings from crude oil exports and increases the share of non-oil sectors in the local production.
    • The application of the amended exchange rate on project imported inputs will assist in directing investments away from aggregated sectors dependent on imported inputs and the preference of those sectors that rely on locally produced inputs.
    • The use of the amended exchange rate helps to correct the balance in favor of the traded goods sectors compared to non-traded goods.
    • The real exchange rate has declined rapidly since the early seventies, through rapid rise of the level of prices and local costs which led by the steadiness of the official exchange rate to change in prices and actual local rate costs that gave an advantage for imported goods at the expense of locally produced goods, meaning that it led to deterioration of the competitiveness of alternative replacement goods and export commodities.
    • This action shows that the official exchange rate overestimates the value of the dinar, compared to the foreign currency and from the promoting goods substituting imports and export commodities point of view of.


    And in support to this view is the state’s utilization and in a broad approach to the customs and quantitative protection policies especially for consumer goods, as well as export subsidies that exports have through an amended export exchange rate.

    3. Estimate the amended exchange rate of the Iraqi dinar to be used in technical and economical feasibility studies and for (1.134) dollar per dinar. This price should be approved for 3 years until re-appreciation by the competent authorities.



    The Republic of Iraq – Ministry of Planning

    and

    A "flashback recap" of a Live Q and A Call from about a year ago - on THE DAILY DINAR NEWS BLOG...

    In general terms – there were three main focal points of interest I wanted to cover and then allow listeners to ask whatever questions they liked.

    1) the SIGR report…


    2) the Gold Article…


    3) the IIER report…


    I started the conversation out last night by highlighting how crazy this campaign being fielded to contact our lawmakers and bank CEO’s and tell them how unfair it is they are getting to exchange (exchange is the right terminology BTW – NOT “CASH-IN”) at 32.00 per Dinar and we are not – is. It is nuts.


    Firstly, “they” are NOT being allowed to exchange “early” – or at 32.00 per Dinar. It makes you sound “stark raving MAD” to be caught saying such things. You would be better off barking at the moon. It is demeaning to the validity of a true currency play.


    Secondly, this is entirely the wrong way to approach them. I pointed out on the call that Poppy and I fielded a very successful such campaign a couple of years ago. However, we sat down and came up with a much different approach. It was designed to get answers and to approach our lawmakers with respect and as their constituents. Not like a bunch of lunatics. We had extraordinary participation (because it made sense) and we received a good response from lawmakers. It started the conversation in a reasonable manner.


    I asked one caller – “when was the last time you asked a banker for money and told him how unfair it was if he didn’t give it to you”??? Obviously – we chuckled…


    Another caller asked me if (as DC had relayed) – the “zero’s were raised” and the lower denominations were in circulation??


    I said plainly “no”…lower denominations being in circulation would (at the very least) imply there had been a value change. If there were no value change the lower denoms would not only be of little value, they would be such a hinderance – people might even throw them away just to get rid of them. So no – no lower denoms. I told the caller to check the
    CBI.iq website for “real” info on rate change.

    The “zero’s being raised” or “deleted” – as explained by any reasonable researcher, economist or authority – is simply the process removing the large (3 zero notes) from circulation.


    Referring to an Enorrste post from today on
    THE DINAR OBSERVER DAILY(you may want to put this on your favorites and check in several times a day – we to it often )

    “…I have never found a single article from the CBI or the IMF that equates “delete the zeros” to the idea of “move the decimal point.” Instead, the statements overwhelmingly come out to mean “remove the large notes from circulation.”


    Also – this recent internal memo put out by Wells Fargo is likely “push back” from this recent campaign. I pointed out that Pinnacle Bank published an article by an “affiliate” in their internal publication and then “highlighted it” in a similar internal memo a couple of years ago. It is just a defense mechanism. I’m sure Wells is tired of having their name dragged through the “internet rumor mill”. This is highly likely the reason for their vigorous denials about handling it in the future. They get so many useless calls – it isn’t worth the headache. Can you blame them??


    Further, for any bank, lawmaker, adviser or official to state the “Dinar is a scam” is nearly as foolish as some of the internet “Gurus”. It is the official currency of a COUNTRY. I pointed out (below) the post from yesterday’s
    DINAR OBSERVER DAILY
    – highlights page 94 of the quarterly SIGR report to THE US CONGRESS in April of 2012…
    __________________________________________________ _____________

    THIS REPORT WAS SENT TO CONGRESS LAST MAY. IT PLAINLY SHOWS IN THIS REPORT THEY EXPECTED THE DINAR TO REVALUE AT AROUND A DOLLAR IN 2013.

    We are seeing and hearing that the inflation rate is still climbing and they are pushing to get us our money?? This report is from page 84 of the massive SIGR report.





    BGG ~
    This is a screen shot from the “Special Inspector General for Iraq Reconstruction” – Apr 2012, quarterly report to Congress. For members of our Government to say they have no idea what is going on here – means they haven’t read some very basic documents presented them.
    __________________________________________________ ______________

    I pointed out (last night) this is a highly speculative investment. We are, in no way, guaranteed anything. However, this SIGR report gives us some valuable insights…

    1) This is information given to the US CONGRESS on a quarterly basis… I find it hard to believe such an information source would intentionally mislead Congress. They tend to frown on such behavior. Which goes directly to the validity of this adventure – against all advice from Wells Fargo or other such naysayers.

    2) It points out there having been a legitimate “plan” – or time frame in motion…having been projected to be done in 2013. We are obviously in “over time” now.

    3) It gives us an idea as to who is in charge…the CoM – or Council of Ministers. Who do they answer to?? Maliki. Period. When is he likely to push this forward?? Historically – he has been a “weak Dinar” policy advocate. However, rumor from his own inner circle admits he can’t win a third term in office without some currency reform.

    I fully expect him to use every tool in his “wheel house” to win – his recent moves in Anbar and the disputed territories prove as much. Currency reform has to be a “biggie”. Though this WAS their thinking a couple of months ago – there is no promise it is still part of their political calculus. We shall see.

    4) Though no guarantee of the actual future plan they wind up engaging – this report points out an increase in value that would have taken the Dinar from “one-tenth of a cent” to a value “of slightly less than $1″..

    __________________________________________________ ______________

    AND

    Coins put on the market !!



    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara "The project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find metal coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century

    waradana.com

    And

    CBI is preparing to issue a monetary metal parts



    Metal coins from the category of 25 fils were in circulation until the nineties of the last century

    Nora Albjara member of the committee of economy and investment in the House of Representatives revealed that the central bank completed its preparations for the issuance of metal coins of seven small groups, in conjunction with the implementation of the project to delete the three zeroes from the paper currency is currently in circulation.

    She said in her statement Albjara Radio Free Iraq, "said the project will take between four and five years, and which will be the launch of the categories of small coins gradually."

    He predicted the financial expert Hilal Taan inflation rate declines, with the issuance of metal coins of small denominations in the daily financial transactions, remarkable that 3% of the value of inflation in Iraq due to the presence of large cash block.

    The economic expert on behalf of Jamil Anton, noted that he may not find coins accepted by a lot of Iraqis, especially young people, due to the existence of an entire generation of Iraqis had not trading coins due to stop use since the early nineties of the twentieth century.

    http://www.iraqhurr.org/content/article/26666313.html

    and

    Another "FLASHBACK"...

    Economists Divided Over Deletion Of Zeros

    By Amina al-Dahabi for Al-Monitor.

    The Central Bank of Iraq (CBI) has been attempting to delete three zeros from the Iraqi currency since 2003. This project has raised many concerns among the Iraqi public and within the business community, and Iraqi economists are divided…

    …Haider al-Abadi, the head of the Iraqi parliamentary Finance Committee, told Al-Monitor that while deleting zeros from the current currency is possible, this has been postponed until after parliamentary elections. He noted that studies are being carried out to ensure that, following the currency change, counterfeiting is limited and that Iraqis don’t go back to trading in the old currency.

    The step to delete zeros from the currency has been postponed several times, leading the parliamentary Economic Committee to demand that the CBI accelerate this project, as Al-Sharqiya reported. In a news conference held July 6, the Economic Committee confirmed that the deletion of zeros will lead to an increase in the value of the Iraqi dinar and will have positive repercussions, including a reduction in unemployment and poverty rates in the country.

    ARTICLE LINK



  2. #2

    Re: The Dinar Daily, Tuesday January 6, 2015





    as of 9:50 am est there are no updates on cbi website for indicative pairing prices or auctions... Stay tuned
    Last edited by sczin11; 01-06-2015 at 02:50 PM.

  3. #3

    Re: The Dinar Daily, Tuesday January 6, 2015

    Parliamentary Finance will continue to hold meetings on the budget to complete its report



    Said Finance Committee member of the parliamentary Jabbar al-Abadi, said the committee will meet this afternoon to discuss the draft federal budget law for the current year 2015, and to complete its report.

    He said al-Abadi told all of Iraq [where], "The Finance Committee will be held in the second ten of the afternoon meeting today to discuss the state budget," he said, adding that he "has to be that the Finance Committee, read the second reading of the draft budget before its inclusion on the agenda."

    The parliamentary Finance Committee, ended on Monday, the private meeting to discuss the draft budget bill for fiscal year 2015, without completing its report on the budget.

    According to a parliamentary source for [where] that "the Commission hosted a meeting with a delegation from the Electoral Commission and the Martyrs Foundation in order to request an increase T_khasasathma in the budget," noting that "the Committee will meet Tuesday to complete its report," pointing out that "the Commission will host delegations from the ministries of interior and defense on the share of Each of the Ministry of the budget. "

    He is scheduled to be discussed during a meeting of parliamentary financial, budget and reduce costs and re-explain the doors of the budget in detail, and the preparation of its report to display in the House of Representatives hearing on Wednesday. Ended 2

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3393718&usg=ALkJrhhTp8xLBTO9Xf7hzRoOzhv5AZxqFw

  4. #4

    Re: The Dinar Daily, Tuesday January 6, 2015

    Jubouri is a National Guard Law "positive case" security structure. It calls for approval



    Twilight News / The head of the Iraqi Council of Representatives, on Tuesday, the National Guard law as a "positive case" in the structure of the security establishment in the country, called the executive power to speed up the vote and sent to parliament for approval, stressed the need for what he called to get rid of the weapon "Almtfelt "laptop outside legal frameworks.

    Jubouri said in a speech to mark her 94th anniversary of the founding of the Iraqi army that "all of us must work to rid the world of all aspects of the arms Almtfelt under any title or reason."

    He said, "This requires time and effort from everyone," and terrified his belief that "initially be strengthened capacity of the army and security forces of training and armament aspects and harness financial and professional our capabilities for the development of this important institution, which depends upon the future of the country and the stability and sovereignty."

    Jubouri called for a "take advantage of all our military and Iraqi experiences that have been excluded some Or asceticism in their capacity for a long period under various justifications, it is time to re-examine all of these actions in order for the future of Iraq and the stability of the goodness of his army and safe ".


    He pointed out that "the National Guard law represents a positive shift in the case of the security structure of the institution, adding that" this is what causes us to call to expedite the completion of the executive bodies competent to be submitted to the parliament to be a quality addition to our military formations. "

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3394020&usg=ALkJrhgtkeodWXODFyaQj6cgI2YavirShA
    Last edited by sczin11; 01-06-2015 at 09:54 AM.

  5. #5

    Re: The Dinar Daily, Tuesday January 6, 2015

    Kurdistan: went to approve oil and gas law during the next legislative term



    Twilight News / said the Kurdistan Alliance member, on Tuesday, that there is a trend of all the political blocs to approve oil and gas law during the next legislative term, due to start on Wednesday, indicating that the government is currently considering a draft oil and gas law.

    Said Mohsen al-Sadoun for "Twilight News", that "there is a copy of the oil and gas law exists in the government is currently being to be discussed by legal experts," pointing out that "there is a tendency of the political forces of the enactment of the oil and gas law in the coming period."

    The previous parliament did not succeed to reach agreement on legislation oil and gas law, despite the formation of several committees and discussions took and killed because of a long dispute over the powers of the Ministry of Oil and the provinces and the mechanism of the export of oil.

    Sadoun said that "the enactment of the oil and gas law will lead to political stability in the Iraqi economy and the settlement of all disputes between the federal government and the provinces and the region."

    The federal government and the Kurdistan Regional Government and reached last month to an agreement on the export of oil to ensure the text that the province to deliver at least 250 thousand barrels of oil a day to the federal government for the purpose of export, the export of 300 thousand barrels per day by the federal government of the province of Kirkuk fields through the pipeline oil to Turkey.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3393801&usg=ALkJrhjlLY8OC1tRZdBIH8oJfzn3ygsS3A
    Last edited by sczin11; 01-06-2015 at 09:59 AM.

  6. #6

    Re: The Dinar Daily, Tuesday January 6, 2015

    Parliamentary Finance: Budget has not encountered problems and we will raise our report on them today or tomorrow



    House of Representatives


    Tomorrow Press / BAGHDAD: A member of the Finance Committee in the House of Representatives Jabbar Abdul Khaliq, on Tuesday, that the general budget for the 2015 law did not yet encountered any problems that may hinder the passing of the Finance Committee and will be submitted its report to the Presidency today or tomorrow.
    Said Abdul Khaliq for "tomorrow Press", "The Finance Committee continues its meetings to study the gates of the general budget for the year 2015, and until now there were not major problems in the way of adoption of the budget, because there is not any political disagreements about it."

    "The budget will be passed soon, and that the purpose of the meetings of the Finance Committee is to review the exchange doors in the budget and expenditures," explaining that "the Commission has hosted some of the stakeholders in the ministries in order to take the right measures."

    Abdul Khaliq said that "the Finance Committee will report today or tomorrow to the Presidency of the Council of Representatives for the purpose of inclusion on the agenda of the next meeting agenda," noting that "the budget may be delayed until the end of this month, in order to study a thorough study and for the success of passed properly without errors ".

    The Council of Ministers approved in its regular, in 23 of the current December, the budget bill and sent it to Parliament for formal approval, pointing out that the budget approved B123 trillion dinars and a price of $ 60 per barrel of oil and a large deficit.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3394316&usg=ALkJrhg6TZxR2vSaeIxTMN_p62cPOaxLwA

  7. #7

    Re: The Dinar Daily, Tuesday January 6, 2015

    sczin11- NO DELAYS...ALL ON SCHEDULE...THE PLAN IS WORKING, ACCORDING TO THE PM


    Sabri: the government program is going according to the time limit

    BAGHDAD
    / Center Brief for the Iraqi Media Network (IMN) - a spokesman for the office of Prime Minister Saad al-Sabri said, "The government program come a long way in its agenda, according to the specified time limit."

    He explained newborn's (IMN) that "the government program completed it all the terms and provisions in relation to activate the system and take steps radical reform of the administrative and financial institutions of the state and the fight against corruption, and the enactment of laws contribute to the achievement of justice among Iraqis, and organize the work of the judiciary, prisons and detainees and their conditions."

    He added, "We have been activated regional especially the relationship with neighboring countries, as well as regulate the relationship between the federal and provincial governments and the region in a positive rise to the highest levels."

    The Iraqi Council of Representatives held on Monday evening (September 8, 2014) a special session to give confidence to the current government headed by Haider al-Abadi.

    From: Qusay al-Asadi, editor: Laith Mohammed Reza


    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3394370&usg=ALkJrhjMaZXra1vQiUjMJnGfaAcD7wLTZQ

  8. #8

    Re: The Dinar Daily, Tuesday January 6, 2015

    Ihsanoglu: Parliament will read the report of the Finance Committee on the budget on Wednesday



    Announced the decision of the House of Representatives Niazi Ihsanoglu, on Tuesday, that the Council will read the report of the Finance Committee of the budget bill in the Wednesday session, and that the Finance Committee and chairman of the parliament are working on completing the budget and not to bring it back to the government.

    sczin11- TO ME, THIS SAYS THEY WANT TO READ IT TOMORROW, AND BE READY TO VOTE! NO NEED TO SEND IT BACK FOR REVISIONS...

    Ihsanoglu said in an interview for "Alsumaria News", "Legislative Chapter II of the House of Representatives will begin on Wednesday," he said, adding that "the agenda focuses on the detailed report, which the parliamentary finance committee will present on the draft general budget bill and after the completion of the report, you will read the budget reading again. "

    Ihsanoglu, adding that "there are many questions and comments to the members of the House of Representatives regarding the draft budget," asserting that "the Finance Committee and chairman of the parliament are working on completing the budget and not to bring it back to the government to rehash because this will delay approving the budget in parliament."

    The parliamentary Finance Committee confirmed, in (January 5, 2015), the existence of political consensus within the House of Representatives to approve the budget bill in the current month, while the eye to look for other ways to finance the budget of the non-oil resources.

    The Presidency of the Council of Representatives for the special budget meeting rose, on Thursday (25 December 2014), the seventh of this January after the termination of the first reading of the budget bill.

    http://translate.googleusercontent.com/translate_c?depth=1&hl=en&rurl=translate.google.com&sandbox=0&sl=ar&tl=en&u=http://www.faceiraq.com/inews.php%3Fid%3D3394492&usg=ALkJrhjWEe6ix3sCsKiFNf6K0zzF_LsvRw
    Last edited by sczin11; 01-06-2015 at 12:06 PM.

  9. #9

    Re: The Dinar Daily, Tuesday January 6, 2015

    Quote Originally Posted by sczin11 View Post
    Ihsanoglu: Parliament will read the report of the Finance Committee on the budget on Wednesday



    January 6, 2015 - 14:38
    Policy




    Announced the decision of the House of Representatives Niazi Ihsanoglu, on Tuesday, that the Council will read the report of the Finance Committee of the budget bill in the Wednesday session, and that the Finance Committee and chairman of the parliament are working on completing the budget and not to bring it back to the government.

    sczin11- TO ME, THIS SAYS THEY WANT TO READ IT TOMORROW, AND BE READY TO VOTE! NO NEED TO SEND IT BACK FOR REVISIONS...


    Ihsanoglu said in an interview for "Alsumaria News", "Legislative Chapter II of the House of Representatives will begin on Wednesday," he said, adding that "the agenda focuses on the detailed report, which the parliamentary finance committee will present on the draft general budget bill and after the completion of the report, you will read the budget reading again. "

    Ihsanoglu, adding that "there are many questions and comments to the members of the House of Representatives regarding the draft budget," asserting that "the Finance Committee and chairman of the parliament are working on completing the budget and not to bring it back to the government to rehash because this will delay approving the budget in parliament."


    The parliamentary Finance Committee confirmed, in (January 5, 2015), the existence of political consensus within the House of Representatives to approve the budget bill in the current month, while the eye to look for other ways to finance the budget of the non-oil resources.


    The Presidency of the Council of Representatives for the special budget meeting rose, on Thursday (25 December 2014), the seventh of this January after the termination of the first reading of the budget bill.

    http://translate.googleusercontent.c...Nf6K0zzF_LsvRw
    Excellent news!!!! NOT TO BRING IT BACK. now if they will step on the gas and let Shabibi do his job we can do our part,

  10. #10

    Re: The Dinar Daily, Tuesday January 6, 2015

    Parliament rapporteur: tomorrow's meeting will be devoted to discussion of the report and the budget committee to investigate issues of Spyker and SAQLAWIYA completed its work



    Long-Presse / Baghdad Announced the decision of the parliament Niazi architecture Ihsanoglu on Tuesday that the parliament session tomorrow will focus on reading the budget report and take notes of Representatives on them, and while denied be customized for the second reading of the draft budget session, confirmed the delivery of the special parliamentary committee to investigate on the issues of Spyker and SAQLAWIYA its report to the General Command of Forces armed. "

    Ihsanoglu said in an interview with the (long-Presse), "The parliament session tomorrow will focus on reading your detailed report financial committee on the budget and take notes of Representatives on them," adding that "tomorrow's meeting does not include the second reading of the draft budget because the second reading be after the completion of Notes of Representatives. "

    On the other hand Ihsanoglu pointed out that "the special parliamentary committee to investigate on the issues of Spyker and SAQLAWIYA handed over the report to the General Command of the Armed Forces in order to eliminate takes its course."

    The Cabinet agreed last month to the federal budget B123 trillion dinars and a deficit of 23 trillion dinars, while the Council pointed out that the speculative price of oil was about $ 60 a barrel

    The Presidency of the Council of Representatives of Iraq lifted, last week, to discuss the financial budget for this year's bill to the seventh of January special meeting Alhala, in session saw the completion of the first reading of the budget.

    The Finance Minister Hoshyar Zebari said last week at a news conference that, the ministry directed ministries to impose taxes on services such as electricity, water and hygiene.

    http://www.almadapress.com/ar/news/42145/%D9%85%D9%82%D8%B1%D8%B1-%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86--%D8%AC%D9%84%D8%B3%D8%A9-%D8%A7%D9%84%D8%BA%D8%AF-%D8%B3%D8%AA%D8%AE%D8%B5%D8%B5-%D9%84%D9%85%D9%86%D8%A7

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