Al-Darraji: The presence of two prices for the dollar portends a “dangerous” situation

Information/Baghdad… Former MP and Minister Muhammad Sahib al-Darraji warned, on Saturday, of a “dangerous situation” for the Iraqi economy due to the existence of two prices for the dollar.

Al-Darraji said in a tweet on Twitter, “The uncontrolled rise of the dollar must be confronted with measures at the level of controlling the exchange rate. And at the level of addressing the effects of the devaluation of the dinar on the vulnerable classes of society.”
He added, “The presence of two different prices for the dollar (official in the Central Bank and real in the commercial markets) portends a dangerous situation in the Iraqi economy.”

A member of the House of Representatives, Muhammad al-Ziyadi, called earlier on the Prime Minister, Muhammad Shia’ al-Sudani, to stand with the interest of the poor and find the necessary solutions to address the dollar price crisis, while stressing that the continued sale of oil in US dollars will not provide any result.

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Because of the dollar crisis.. Parliament intends to host Al-Sudani, the governor of the Central Bank and the Minister of Finance

A member of the House of Representatives, Aqil Al-Fatlawi, revealed today, Saturday, the existence of a movement by members of the House of Representatives to host the Prime Minister, Muhammad Shia Al-Sudani, the Governor of the Central Bank and the Minister of Finance, to discuss the repercussions of the crisis of the high dollar exchange rates in the Iraqi markets.

Al-Fatlawi said, in an interview with Al-Maalouma, that “the crisis of the rise in dollar prices will be present in the process of hosting Prime Minister Muhammad Shia’a Al-Sudani, the governor of the Central Bank and the Minister of Finance inside the dome of Parliament.”

He added, “The dollar file is considered one of the most important files that will be discussed inside the parliament dome in order to clarify from the executive authorities about whether there are solutions to address the crisis and to identify the reasons behind the rise, so that the Iraqi people know in which direction Parliament is going towards the dollar file.”

The member of the House of Representatives explained, “The subsequent sessions will be hosted by Al-Sudani, Taif Sami, and the Governor of the Central Bank, which requires collecting the signatures of approximately 75 deputies.”

Al-Fatlawi said, “Parliament has the right to host the prime minister or submit a request when the parliament is completed.”

The crisis of rising dollar prices continues in the Iraqi markets for the third week in a row, amid fluctuations in prices between low and high, despite government measures and an attempt to control them by increasing the pumping of the dollar into the Iraqi markets.

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Independent deputy: We are determined to find solutions to the exchange rate of the dollar

Information / Baghdad… Independent MP Kazem Al-Touki confirmed, on Friday, that there are parliamentary moves to find remedies and solutions to the crisis of the high exchange rate of the dollar, pointing to the presence of merchants and owners of capital, as well as moves from Washington to raise the value of the dollar against the dinar and harm the Iraqi citizen.

Al-Touki said in an interview with Al-Maalouma, that “commodities, merchandise, and even foodstuffs all rise and fall according to the exchange rate of the dollar in the local markets, as the current changes have negatively affected the citizen’s living situation.”

He added, “The House of Representatives is determined to take its measures after it discusses the issue of the exchange rate and finds out its reasons and causes, and obliges the concerned authorities to find remedies and solutions to the current crisis.”

And he indicated that “America has taken financial and banking measures, and therefore these measures are against the Sudanese government, in addition to that there are capitalists and merchants working to impose their hegemony on the currency and achieve personal gains.”

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Within 11 months.. about 150 trillion dinars, Iraq’s revenues last year

Shafaq News / The Iraqi Ministry of Finance revealed, on Thursday, that the state’s revenues during the past year amounted to nearly 150 trillion dinars, and a financial surplus exceeded 55 trillion dinars, within 11 months.

According to tables and data issued by the ministry, and followed by Shafaq News agency, the accounts of the Iraqi state, from January 2022 until November of the same year, amounted to 149 trillion and 556 billion and 392 million and 918 thousand and 861 dinars, which represents 95% of the total revenues.

And it showed that the total expenditures with advances amounted to 93 trillion and 859 billion and 526 million dinars.

According to the finance table, the budget surplus until last October amounted to 55 trillion, 696 billion and 866 million dinars (equivalent to 38.040 billion dollars).

For his part, the financial expert, Muhammad al-Hassani, stressed in an interview with Shafaq News agency, “the need to invest the financial surplus in developing industry and agriculture and supporting the foundations of the real private sector, to operate factories and factories.”

And that “this guarantees the solution of several problems existing in the Iraqi economy, including unemployment and corruption, in both its financial and administrative aspects.”

He added, “Oil prices are affected by global demand, which in turn is affected by global economic, political and health fluctuations,” expecting that “the surplus may not be available to Iraq during the current year 2023 or next year, according to the data of international financial institutions that are pessimistic towards the global economy.”

The Advisor to the Prime Minister for Financial Affairs, Mazhar Muhammad Salih, had confirmed in March 2021, in an interview with Shafaq News agency, that the reasons for the survival of the Iraqi economy as a rentier go back to the wars and the imposition of the economic blockade during the past era, and the political conflicts we are witnessing today, which led to the dispersal of economic resources.

And the continuation of the Iraqi state relying on oil as the sole source of the general budget puts Iraq in danger from global crises that occur from time to time due to the oil being affected by it, which makes Iraq tend every time to cover the deficit by borrowing from abroad or internally, and thus indicates the inability to manage State funds effectively, and the inability to find alternative financing solutions.

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An economist warns of smuggling dollar currency through remittances

Information / Baghdad… The economic expert, Nasser Al-Kinani, warned against smuggling the dollar currency through private exchange transfers, pointing to the importance of opening credits for merchants and transferring the dollar to the country from which it is intended to be imported without giving the dollar cash.

Al-Kinani told Al-Maalouma, that “controlling the exchange rate of the dollar needs to take measures by the central bank by setting controls by banks that give dollars to merchants, as well as controlling stock exchanges and preventing dollar smuggling.”

He added, “Many money changers are working to smuggle the dollar currency by transferring it to another country, while the dollar is supposed to be given to merchants through official outlets and at the price specified by the state to ensure that it is not smuggled.”

And Al-Kinani stated, “Trading in dollars should be through official transfers from the central bank and its affiliated banks, so that the dollar is not given to the merchant in cash, but rather it is transferred by opening credits for each merchant so that the amounts are transferred to the dollar to be imported from.”

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Framework: We will go to end the American presence during the next legislative term

Information / Baghdad… The representative of the coordination framework, Muhannad Al-Khazraji, pledged, on Thursday, the achievement of the country’s full sovereignty to the full American withdrawal, indicating that Parliament will move towards expelling foreign forces during the next legislative term.

Al-Khazraji said in a statement to Al-Maalouma, “The House of Representatives is obligated to achieve a clear vote during the legislative season to vote on ending the American presence and supporting the country’s sovereignty.”

He added, “The Iraqi army, with all its types, led the most difficult battles, and was able to stave off dangers and protect the land and sky of Iraq without any external interference.”

The media had revealed the leadership of Prime Minister Muhammad Shia’a al-Sudani by addressing the American ambassador in Baghdad regarding ending the military presence in Baghdad and the possibility of a response by the White House.

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Parliament calls on the government to expedite the approval of the budget law, and a deputy confirms its completion by the Ministry of Finance

Shafaq News / Independent MP, Yasser Al-Husseini announced, on Thursday, the completion of the draft budget law for the year 2023, and it will be discussed in the next cabinet session, while the First Deputy Speaker of Parliament, Mohsen Al-Mandalawi, urged the government to expedite the approval of the budget.

Al-Husseini told Shafaq News agency, “The Ministry of Finance has completed the final draft of the general budget bill for the year 2023, and it is expected to be sent to the General Secretariat of the Council of Ministers next week.”

He added, “Next week’s session of the Council of Ministers will witness a discussion of the budget law, and then a vote on the law and sending it to the House of Representatives.” dollars.”

In turn, the First Deputy Speaker of the House of Representatives, Mohsen Al-Mandalawi, called on the government to expedite the submission of the budget law to the House of Representatives for a vote on it.

Al-Mandalawi’s media office stated, in a statement received by Shafaq News agency, that the latter met with Prime Minister Muhammad Shia’a al-Sudani, to discuss a number of files and priority issues.

Al-Mandalawi stressed the need to expedite the completion of the draft budget law for the current year, and send it to the House of Representatives to include it in the agenda, read it first and make amendments to it before submitting it to the vote, and stressing the inclusion of contract holders, lecturers, holders of higher degrees, first students and others from various segments of society within its provisions.

Shafaq.com

The Central Bank of Iraq expands the outlets for selling dollar cash

Shafaq News / Today, the Central Bank of Iraq decided to include banks that are allowed to participate in the electronic platform and wishing to participate in selling cash dollars for the purposes of travel, treatment and study.

The Central Bank of Iraq confirmed, in a statement received by Shafaq News Agency, the expansion of the number of outlets selling foreign currency in bank branches in Baghdad, under the direct supervision of the inspection teams of this bank.

The Central Bank of Iraq indicated, according to its statement, that it had earlier expanded the number of bank outlets for selling foreign currency from 10 to 20 banks, after the success achieved by its initiative to enhance the stability of the currency market.

Earlier today, the Central Bank of Iraq announced the direct sale of dollars to the ministries.

A bank document obtained by Shafaq News Agency stated, “Due to the launch of the electronic platform for external transfers at the beginning of the current year, the Central Bank of Iraq welcomes your requests to finance your obligations, transactions and contracts abroad in foreign currency and at the official rate.”

Shafaq.com

Deputy: Al-Kazemi fled Iraq to avoid the lawsuits filed against him

Information / Baghdad… The representative of the Al-Fatah Alliance, Ali Turki Al-Jamali, confirmed that the former Prime Minister, Mustafa Al-Kazemi, fled from Iraq more than 3 weeks ago to the Emirates, via Kurdistan, in order to avoid lawsuits filed against him.

Al-Jamali told Al-Maalouma, “Al-Kazemi fled outside Iraq more than three weeks ago and is currently in the UAE after he left the country through the Kurdistan region.”

He added, “Al-Kazemi’s escape confirms his fear that there are cases in the judiciary against him, and an arrest warrant may be issued for her in relation to the cases filed against him, including those related to the file of the assassination of the leaders of Al-Nasr while he was at the head of the intelligence service before he was prime minister.”

Al-Jamali said, “There is an urgent need for a real stand by the parliament to follow up on the file of the American crime against the leaders of victory and to reach all those involved.
Likewise, the parliamentary follow-up comes to distance the government from the attempts of those who want to end this file by putting pressure on it, such as the US embassy and other countries allied to Washington and the entity.” Zionist.

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Parliamentary investment: monetary policy led to the accumulation of money in homes

Information/Baghdad… The Investment Committee in the House of Representatives confirmed, on Sunday, that fear of Iraq’s monetary policy pushes citizens to store money in their homes.

Committee member Muhammad al-Ziyadi said, in an interview seen by / information /, that his committee “is working on how to develop the banking sector in order to support the private sector through dealings in granting advances, loans, profits and interest,” stressing “the need to adopt a policy of currency circulation.”

Al-Ziyadi added, “There are many issues that must be discussed with those in charge of the central bank or those responsible for the financial sector, in order to limit the storage of money in the coffers of citizens’ homes because of their fear of the country’s monetary policy.”

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