Action from the House of Representatives after raising the price of the dollar

[6ly410]

 

Awad responds with 14 points to the justifications for Al-Kazemi and the Finance Minister for reducing the dinar

https://alahadnews.net/145872/العراق/السياسية/

 

 

Author: AhadNA4 On 12/21/2020 - 6:56 PM 182

The deputy of the Al-Sadiqoun Parliamentary Bloc, Uday Awad, responded on Monday to the Prime Minister and the Minister of Finance after their justifications regarding the reduction of the Iraqi dinar price.

Awad said: “It would have been better for the Prime Minister and Minister of Finance to take the following steps instead of lowering the exchange rate of the Iraqi dinar,” which are:

1- Reducing the salaries, allocations and petitions of the three presidencies and exempting hundreds of employees in these presidencies without any interest to them.

2- Reducing the salaries and privileges of members of Parliament and withdrawing protections from them.

3- Abolishing the retirement of deputies, members of provincial councils, presidents, ministers, governors and their deputies for past and future years.

4- Withdrawing the columns of protections for political and religious figures and the like, which cost a budget equivalent to that of a full security apparatus.

5- Controlling the northern oil and its border outlets, and in the event that you are unable to do so, and this is for sure, you must prevent the entry of any goods from the northern governorates to the rest of the governorates of Iraq until after their re-entry and the restoration of al-Safra’s control.

6- Closing down half of the embassies, consulates and representations that are useless and which have opened up to favor the political class.

7 - Replace the Iraqi foreign workers, as these cause the withdrawal of hard currency from Iraq and transfer it abroad.

8- Abolishing all double salaries, except for martyrs' families.

9- Stopping the export of crude oil to Jordan or selling it at international prices.

10- Finding a solution to Iraqi gas instead of burning it and setting up stations to benefit from it and use it for power stations instead of importing Iranian gas, which burdens Iraq’s budget.

11- Reducing the salaries of special grades.

12- Canceling the petty cash for the ministries and governorates and preventing any dispatch at the expense of the state.

13- Get the money owed by the mobile phone companies.

14- Since the governments have not been able to unify the customs and tax rates with Kurdistan in the area of importing cars, they must reduce customs and taxes similar to what the region does. Entering a small tax to the Iraqi budget is better than nothing, and the region’s taxes do not enter our budget

[yota691]

Deputy: Parliament rejects the 2021 budget

Editing date: 12/21/2020 19:23 • 122 times read

http://www.alliraqnews.com/uploads/news/image/medium/story_img_5fe0cbf7a120d.jpg

[Baghdad-Where]
MP for the Al-Fateh Alliance, Mukhtar Al-Mousawi, confirmed, on Monday, that the House of Representatives will refuse to accept the draft federal budget law for 2021 in its current form.

Moussawi said, "The House of Representatives has the responsibility to question Prime Minister Mustafa Al-Kazemi, as he failed to manage the economic file, and to move away from political courtesies," noting that "the federal budget law for 2021 is unsuccessful and unfair to employees and it must reduce the salaries of officials."

He added that "the House of Representatives will refuse to accept the draft federal budget law for 2021, as it constitutes a great burden on the citizen," noting that "most of the members of the House of Representatives recognized the failure of the Kazemi government and were unwilling to."

Today, Monday, Al-Fateh coalition deputy, Abdel-Amir Al-Taiban, called for the dismissal of Prime Minister Mustafa Al-Kazemi's government as soon as possible.

[yota691]

After its approval yesterday in the Council of Ministers .. disclosure of the dollar exchange rate in the budget

 

•  Today, 10:46
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Baghdad - IQ  

The Parliamentary Finance Committee revealed, on Tuesday, (December 22, 2020) the exchange rate of the dollar in the budget approved by the Council of Ministers yesterday.

Committee member Naji Al-Saeedi told IQ NEWS , "The exchange rate that was fixed in next year's budget, according to the Central Bank and the Ministry of Finance, is 145,000 per $ 100."

He added, "The House of Representatives intends to host the Minister of Finance and the Governor of the Central Bank in the presence of the Prime Minister to discuss the issue and reach results that do not affect the simple citizen,  " noting that "the hosting will be to find out the real reasons that came behind the change of the exchange rate."

Yesterday, Monday (December 21, 2020), the Council of Ministers voted on the federal budget for the fiscal year 2021.

Last Saturday, the Central Bank announced officially setting the exchange rate of 1450 dinars per dollar, and 1460 dinars per dollar, the price of selling foreign currency to banks, 1470 dinars per dollar, the price of selling foreign currency to the public, justifying this by saying, "Failure to take such a decision may make us obliged. To take difficult decisions that may put Iraq in a situation similar to what happened to neighboring countries, "and that was after statements made by Finance Minister Muhammad Tawfiq Allawi, which focused in this direction. 

[yota691]

Representative economy: a parliamentary approach to restore the exchange rate to its normal position

Editing date: 12/21/2020 14:14 • 135 times read

http://www.alliraqnews.com/uploads/news/image/medium/story_img_5fe083874d271.jpg

[Baghdad-Where]
The Parliamentary Economic and Investment Committee confirmed today, Monday, that there is a representative tendency to restore the exchange rate of the dollar to its normal condition, indicating that the high exchange rate has affected the poor segment.

Committee member Falah Al-Khafaji said: "We, as members of Parliament, have a tendency to return the exchange rate of the dinar against the Iraqi dollar to 120 or a little more."
He added that "the increase in the exchange rate of the dollar against the Iraqi dinar, the target of which is the very low, poor segment of the population, who are affected by this rise."
He pointed out that "there is an increase in the prices of foodstuffs and all other prices that will affect the poor classes of citizens in society."

[ChuckFinley]

Thanks Yota and Blueskyline for posting. 

[jeepguy]

40 minutes ago, blueskyline said:

https://shafaq.com/amp/ar/اقتصـاد/انخفاض-اسعار-صرف-الدولار-في-بغداد-وكوردستان-3....

Low exchange rates of the dollar in Baghdad and Kurdistan

 

In Erbil, the capital of the Kurdistan Region, the dollar prices also witnessed a decline, and the selling price reached 141,000 per hundred dollars, and the purchase at 139,000 per hundred US dollars.

OKAY  ,  i have figured out why the values went  the wrong way ! 

     < -----  the reason the dinar is lower against the dollar is :------

                                                                              because it would be such a hassle to buy safes ,and safety glass , to protect  the dinar , against ****** and grabs ,  if it were at 1 to 1 or higher   ( brilliant 😉 )

[Carrello]

Parliamentary Finance sets the date for selling the dollar in the market at 147,000 dollars per 100 dollars

Today, 14:36

 

 

 

The Ministry of Finance set, Wednesday, (December 23, 2020), the date of selling the dollar in the local market at 147 thousand per 100 dollars, while indicating that it is about to pass the budget in less than a month.

 

Committee member Jamal Cougar told  IQ NEWS , "The Ministry of Finance gives the central bank a dollar at 145 thousand for every 100 dollars, where the bank adds 10 points and is sold at 146 thousand." The local market is due to speculation and this is not the real price. "

 

Cougar attributed the reason for the rise in the exchange rate in the central bank from the market to "the return of people converting all their savings from the dinar into the dollar or vice versa," considering that "it will not negatively affect the central bank and will not cause damage in that because the original currency auction is sold to traders and those who need the currency for import." ".

 

He explained that "the difference between the central bank and the market will return to normal after two weeks and at the new price until people are satisfied with the price."

 

On December 19, 2020, the Central Bank set the selling price of the dollar, as it will be 1450  dinars per dollar from the Ministry of Finance, 1460  dinars per dollar for banks, and 1470 dinars per dollar for the public.

 

And on the budget law, Cougar stressed that "the House of Representatives will hold a session to read the budget, first reading and discussions begin, and within less than a month the committee will stop passing the budget."

 

And on the salaries of employees, he stressed that "according to the statement of the Minister of Finance, there is no prejudice to the salaries of employees whose salaries are only less than a million. As for a million or more, their salaries will be reduced."

 

It is noteworthy that the decision of the Parliament's Finance Committee, Ahmed Al-Saffar, confirmed, today, Wednesday, (December 23, 2020), that the reduction in salaries can be applied to special and higher grades without prejudice to those with middle and limited income.

 

https://www.iqiraq.news/economy/6892--147-100-.html

 

[rvmydinar]

2 hours ago, jeepguy said:

 

    

                                                                         

Wait a minute guys. Have you guys ever noticed the banknotes with a picture of " saddam hussein " on it above? I thought those banknotes was already invalid a long time ago? How come they have still used them eventhough they was already invalid? I don't get it. Please, tell me if i am wrong. Please don't tell me that those banknotes ( with a picture of saddam hussein ) are also going to rv ( together with our iqd banknotes ), too? What do you think folks?

[Carrello]

Old photo?

[rvmydinar]

5 minutes ago, Carrello said:

Old photo?

why would they put the old photo that the banknotes was already invalid? Were they doing that on purpose?

[Carrello]

1 minute ago, rvmydinar said:

why would they put the old photo that the banknotes was already invalid? Were they doing that on purpose?

Convenience. There are photos that are used over and over again and have been for years. How many years have we seen the photo of the older gentleman behind a glass window with stacks of dinar? 

 

This is not an issue. The Saddam notes, for the most part, were destroyed by fire as the new notes were brought in, and the program was supervised by the US military. 

[jeepguy]

18 minutes ago, Carrello said:

Convenience. There are photos that are used over and over again and have been for years. How many years have we seen the photo of the older gentleman behind a glass window with stacks of dinar? 

 

This is not an issue. The Saddam notes, for the most part, were destroyed by fire as the new notes were brought in, and the program was supervised by the US military. 

 

25 minutes ago, rvmydinar said:

why would they put the old photo that the banknotes was already invalid? Were they doing that on purpose?

hey guys ,  uhhhh  re-read my post , ( it is making fun of why the heck they are always going the wrong way with the dinar values , i just quick picked a photo ...  did not see old notes )

[rvmydinar]

6 minutes ago, jeepguy said:

 

hey guys ,  uhhhh  re-read my post , ( it is making fun of why the heck they are always going the wrong way with the dinar values , i just quick picked a photo ...  did not see old notes )

Thanks. I am glad you explain it.

[rvmydinar]

32 minutes ago, Carrello said:

Convenience. There are photos that are used over and over again and have been for years. How many years have we seen the photo of the older gentleman behind a glass window with stacks of dinar? 

 

This is not an issue. The Saddam notes, for the most part, were destroyed by fire as the new notes were brought in, and the program was supervised by the US military. 

Yep. You got that right.

[jeepguy]

6 hours ago, rvmydinar said:

Thanks. I am glad you explain it.

😆O.kay how much saddam dinar do you have ? 😁

[6ly410]

An expert talks about “two realistic cuts” of employee salaries - urgent

Posted 1 hour ago

Add a comment

News source / Baghdad today

News source / Baghdad today

https://iraqakhbar.com/2737991

Baghdad Today - Baghdad

Economics professor at Basra University Nabil Al-Marsoumi described, on Wednesday (12-23-2020), the imposition of taxes on salaries in the 2021 budget as a "government confusion" that the people will pay their taxes, and while he indicated that the devaluation of the dinar will lead to inflation and higher prices, he said that the deductions It does not include Rafha’s salaries, he said.

Al-Marsoumi said in a televised interview (Baghdad Today), that "the salaries of employees were reduced through two stages, the first in cash after raising the exchange rate of the dollar, and the second real through the imposition of a tax on salaries that targets all segments of employees."

And he considered, “The tax deductions in the salaries of employees are a promotional measure that will affect the standard of living of the Iraqi,” noting that “these deductions do not include the Rafha detainees, and this matter is a great paradox, as it includes most of the employees and excludes Rafha,” indicating that “imposing taxes is a government confusion and the people pay the tax.” .

Al-Marsoumi pointed out that “the government has reduced salaries in the 2021 budget, but it has increased spending in it, while the education share in the budget does not exceed 5%,” indicating that “reducing the value of the dinar will lead to inflation and higher prices, as operating expenses have inflated compared to the 2019 budget.” .

He pointed out that "the 2021 budget is rational and indicates a lack of financial political discipline in Iraq and will negatively affect the Iraqi economy."

The Ministry of Planning confirmed, that the financial crisis in Iraq is severe, and while it indicated that the employee deductions will go to poor families, he revealed a huge number of beneficiaries of salaries.

"The economic crisis is severe, and we bet on patience, and the government has mobilized all its capabilities to overcome it," said a spokesman for the Ministry of Planning - Abdul Zahra Al-Hindawi.

He added that with regard to what the Ministry of Planning requested in the budget, “allocating 8 trillion dinars for projects is insufficient and is worth nothing in relation to the need for projects, as there are 6000 thousand projects and they need 136 trillion to implement them. Current ”.

He continued, "There are late dues to contractors that exceed one trillion dinars since 2014."

With regard to salary files and the dollar exchange rate, Al-Hindawi emphasized that “salaries constitute 120% of the value of oil imports and there are operational expenses required for which little has been allocated, and we need oil to reach $ 70 per barrel to meet the requirements of salaries and ruling expenditures,” pointing to “Non-oil revenues do not form part. Large in the budget, including the revenues of the ports and taxes, because they need to be automated to add large funds to the budget.

With regard to the financial deficit in the 2021 budget, he said, "It is estimated at 60 trillion dinars, which is planned and built on the price of 42 per barrel of oil, and the current oil price exceeds fifty dollars, and there are expectations that it will reach 60 in the middle of next year, and this will be in favor of reducing the financial deficit."

With regard to raising the exchange rate, Al-Hindawi indicated that "raising it will add resources that reduce the deficit."

He continued, "The income tax imposed on employees' salaries included salary and allowances for the first time and was previously imposed on the nominal salary only."

He explained that "part of the tax money imposed on employee income will be allocated to reduce the level of poverty and support the social welfare network through which there are one million and 400 million families included and the state plans to connect them to two million families and the number of its members is estimated at 10 million."

He pointed out that "there are 25 million beneficiaries of salaries, and they are the employees and their families. This is if we calculate that the average number of each family in Iraq is 5 individuals."

And that "there are approximately 10 million citizens or more of their families working in the private sector and they are not employees according to the figures of the Ministry of Planning."

Earlier, MP Mudhar al-Karawi talked about the possibility of resorting to an option applied by the Kurdistan region as an alternative to reducing the salaries and allowances of employees.

Al-Karawi said in an interview with (Baghdad Today), “Reducing employee salaries and allowances while raising the dollar exchange rate has negative repercussions on large segments, especially with the economic crisis and remarkably high prices in the past three days. Prices because 95% of the materials are imported, and they depend on the dollar as a benchmark for determining prices.

Al-Karawi pointed to "the possibility of resorting to compulsory savings for certain categories of employees, especially the higher ranks in the country, instead of reducing salaries and allowances," noting that "the compulsory saving proposal was applied during the last period in the Kurdistan region."

Al-Karawi pointed out that "compulsory saving is just one of the many proposals that will be put on the table of discussions in the House of Representatives after the arrival of the 2021 budget in order to find alternatives that reduce the repercussions of any decisions on the poor and simple people and seek to adopt frameworks that reduce the repercussions of the financial and economic crisis."

Last Monday, the Prime Minister, Mustafa Al-Kazemi, confirmed that the budget will not affect the salaries of employees from the two classes, which make up the majority of the people.

"The budget will not affect the salaries of the employees of the two classes that make up the majority of the people," Al-Kazemi said in a press conference that "Baghdad Today" followed, indicating that "the target in this budget are the upper classes."

He added that "the budget was presented to the political blocs and all of them were supportive of the government's actions," noting that "the budget will not affect only salaries of special and higher levels."

Today, Baghdad obtained a government document showing the schedule for calculating taxes on the total salaries of employees according to the 2021 budget.

According to the government document, "the government imposed taxes of 40% on the salaries of presidents, ministers, deputies, general managers, and special ranks."

According to the document, the taxes will not affect the salaries of junior employees, who amount to between 250-500 per month, while deductions begin from the salary of 750 and above

[screwball]

14 hours ago, rvmydinar said:

Wait a minute guys. Have you guys ever noticed the banknotes with a picture of " saddam hussein " on it above? I thought those banknotes was already invalid a long time ago? How come they have still used them eventhough they was already invalid? I don't get it. Please, tell me if i am wrong. Please don't tell me that those banknotes ( with a picture of saddam hussein ) are also going to rv ( together with our iqd banknotes ), too? What do you think folks?

Stock photo no longer valid paper that’s all they are

[screwball]

Devaluing their currency increasing taxes increasing government spending. Is going to drive up inflation they have to remove the zeroes and adjust rate! Relax!

[6ly410]

Leaked 2021 draft budget set to pauperise Iraqi workers and their familie

https://www.wsws.org/en/articles/2020/12/24/iraq-d24.html

The leaking of Iraq’s federal budget has provoked widespread anger. The budget will devalue the Iraqi dinar and cut public sector salaries, amid an escalating healthcare, economic and political crisis.

 

Thousands took to the streets, blocking the main roads leading to oil installations and bridges in oil-rich Basra city, and the port of Umm Qasr in the south of the country, demanding unpaid wages. There were protests in several areas of Basra province by day-rate employees of the government, including in the energy sector, demanding payment of salaries they have not received in months.

This follows similar protests earlier this month demanding unpaid wages in the semi-autonomous Kurdistan Regional Government (KRG), which employs three out of four workers. Protesters in Sulimaniya burned down the regional government buildings and the offices of the two main Kurdish political parties. Protests have continued, on a smaller scale, after the KRG’s security forces cracked down viciously, leading to 10 deaths–eight protestors and two members of the security forces--scores injured, hundreds detained and journalists threatened with violence.

Iraqi cabinet (Source: Government of Iraq)

Prime Minister Mustafa al-Kadhimi’s government faces a catastrophic financial crisis following the collapse in oil revenues which provide more than 90 percent of its income. It has borrowed from the Central Bank to pay the public sector wage and pension bill of $5 billion a month, as income fell to $3.5 billion, depleting the country’s dollar reserves.

According to the leaked draft 2021 budget, al-Kadhimi has agreed to devalue the dinar as a means of raising government income. With oil prices denominated in dollars and the dinar pegged to the dollar, this will give the government more money to spend. The draft budget assumes a devaluation of around 23 percent, is based on an exchange rate of 1,450 dinars per dollar, compared to the current 1,182 dinars per dollar. The value of the dinar has already fallen on the street, ahead of the official devaluation, as exchange houses in Baghdad sell the dollar for 1,300 Iraqi dinars.

 

The International Monetary Fund estimated that Iraq’s economy will shrink by 11 percent in 2020. It had proposed an exchange rate of 1,600 dinars to the dollar as part of a package of economic and financial conditions for granting a loan to Iraq’s desperate government. That loan will only be forthcoming if Baghdad falls in line with Washington’s political and economic requirements—curbing the power of Iranian-backed militias and politicians and implementing economic “reforms,” including the restructuring of Iraq’s large state-owned banks, privatisations, and above all the slashing of public sector wages and benefits.

The devaluation means a huge cut in workers’ living standards as their purchasing power falls, pushing ever more into poverty, and raising fears that the dinar's value will continue to slide. As a doctor at a Covid-19 ward in Baghdad told AFP, “Our salaries will be worthless.” Day labourers and those without work face immediate destitution.

Even after the devaluation, there will be a record $40 billion budget deficit. The budget envisages expenditure of $103 billion, with just $63 billion in revenue. The government’s White Paper had sought to halve the public sector wage bill, slashing it from 25 percent of GDP to 12 percent, threatening not only workers’ jobs and wages but also the patronage system from which most of the political parties draw their funding and power. The draft budget appears to have retreated a little from this target figure, but has cut salary benefits, including danger pay, higher education degrees and expenses for high-level officials.

Nevertheless, the slashing of benefits, which can in some cases serve to double workers’ paltry wages, combined with the devaluation is a massive assault on the working class. As Ali Kadhim, 50, a teacher told Al Jazeera, “The majority of Iraq’s work force are government employees. We are the middle class, but (the government’s latest) decisions are going to make us the poorest class.” He added, “I am paying off two loans that take up a third of my salary. After these decisions I don’t know how much I am going to earn.”

In October, the United Nations Development Programme (UNDP) warned that the slump in demand and plummeting oil prices, along with the limited restrictions put in place to deal with the pandemic—Iraq has confirmed more than 585,000 cases and 12,700 deaths—would deepen inequality. At least 13 percent of Iraqis and 36 percent of young people are officially unemployed. According to ReliefWeb, around 8 percent of households (3 million people) were not getting enough to eat in September, while the World Bank’s November report estimated that up to 5.5 million of Iraq’s 39 million population were at risk of falling into poverty, meaning that more than 40 percent of Iraq’s predominantly young population—the median age is 20 years--would be living in poverty.

Iraqi children have been some of the worst affected by the trauma of war, poverty and the disastrous state of the country’s education system, once one of the best in the Arab world. Some 3.2 million school-aged children are out of school. In conflict-affected areas, almost all school-aged children are missing out on an education, leaving them vulnerable to exploitation, abuse, early marriage, child labour, and recruitment by Iraq’s numerous militias.

 

With one in every two schools damaged, many have up to 60 children in a class and operate a shift system. The number of qualified teachers has fallen at all educational levels as spending on education has declined and Iraq’s educated and professional class fled abroad following the wave of assassinations of colleagues since the US-led invasion of the country in 2003. The closure of schools earlier this year due to the pandemic affected more than 10 million children, causing a further educational decline for those who have already lost years of schooling.

The budget is likely to exacerbate tensions with Kurdistan, which is dependent upon the federal government in Baghdad for cash to pay its employees. The budget requires the KRG to contribute 250,000 barrels of oil per day in return for its budget allocation of $8.6 billion, while containing provisions for reducing or eliminating its transfers to the KRG.

Kadhimi, a former intelligence officer with close ties to Washington, became prime minister earlier this year after the previous government was brought down by mass protests that started in October 2019, against inequality, poverty, corruption and the sectarian political system. While he promised an investigation into the more than 600 protesters who were killed by the security forces during the crackdown, those responsible have not been identified or brought before the courts. He pledged to hold elections next June based on new legislation that would overturn Iraq’s sectarian political system but has been unable to secure the necessary political agreement in parliament.

Writing in Foreign Policy, Farhad Alaaldin and Kenneth Pollack warn that Iraq’s economic collapse could lead to a civil war drawing in its neighbours. If Iraq’s government continues to lose credibility, “armed groups and tribes, including the armed militias backed by Iran, would try to fill the vacuum and usurp the role of the primary security forces in Iraq.... These same groups would also fight for territory to control. They might try to take control of revenue-generating resources such as oil fields, ports, border crossings, large businesses, agricultural land, and private properties.”

Iraq, which has strong trading and commercial links with Iran, has become a key political battleground in US imperialism’s militaristic confrontation with Tehran. The Trump administration has insisted that Baghdad rein in the Iran-backed Shi’ite militias that have repeatedly fired rockets into the Green Zone, the heavily fortified area that houses the US Embassy, military forces and contractors.

In September, Secretary of State Mike Pompeo threatened to close the embassy in Baghdad as a prelude to US military attacks aimed at “liquidating” Shia militia elements charged with responsibility for attacks on US facilities. Earlier this month, the US withdrew some of its staff from the embassy in the run up to the first anniversary of the January 3 US air strike that killed Iran’s top general, Qassem Soleimani, and Abu Mahdi al-Muhandis, a prominent member of the Iraqi government and deputy commander of Iraq’s Hashd al-Shaabi, an Iran-backed umbrella militia group, in Baghdad.

[yota691]

The dollar is trending lower

Thursday 24 December 2020 18

 

 Baghdad: Mustafa Al-Hashemi

 

 

The exchange rates of the dollar in the local markets recorded a slight decline, on Wednesday, after parliamentary efforts to impose control on the movement of selling and buying goods that affect the lives of citizens.

The exchange rate of the hundred dollar denomination yesterday evening reached 141,250 thousand dinars to one dollar, after it had exceeded the price of the hundred dollar denomination to 143 thousand dinars during the past few days.

Governmental and non-governmental agencies are moving to prevent the weak from exploiting the circumstances and raising the prices of food and medicine while providing all the requirements for supporting the local product, at a time when members of the House of Representatives seek to hold an "emergency session" attended by the Prime Minister, the Prime Minister, and the Prime Minister. Mustafa Ghaleb, to discuss the dollar's rise.

The First Deputy Speaker of Parliament, Hassan Al-Kaabi, said recently: "The session comes to find out the repercussions of the sudden rise in the exchange rate of the dollar, in order to provide the necessary guarantees to protect the vulnerable, poor and low-income classes."

[rvmydinar]

7 hours ago, jeepguy said:

😆O.kay how much saddam dinar do you have ? 😁

Nope. I Don't have it at all. It is just that when i saw that saddam dinar, i am just a shock and curious and have a question in my mind, whoever put the saddam dinars on the article, i just think that may be the saddam dinar has also had a chance to revalue. Who knows. But since you already clear it up, so i am just fine. Do you hold saddam dinar as a dinar collector? Do you know How much is saddam dinar' worth right now since saddam died a long time ago? Is it 100 or 1000 fold?

[jeepguy]

Rvmydinar, I see those  worthless notes in odd places , yard sales , antique  sales , mostly  people  trying to  get anything for it...

[rvmydinar]

17 minutes ago, jeepguy said:

Rvmydinar, I see those  worthless notes in odd places , yard sales , antique  sales , mostly  people  trying to  get anything for it...

Thanks. Next time i also want to go to yard sales, who know if i am lucky,  i will get saddam dinar.

[yota691]

A request to raise the exchange rate to 1600 dinars against the dollar ... and two alternative official proposals

 

 

1,092 Policy 12/24/2020 16:22 Baghdad Today -

Follow-up Two measures that could have saved more money than the difference in the exchange rate of the dinar against the dinar were revealed by an economist who pointed out that the Ministry of Finance requested that it be set at 1600 dinars to the dollar.

 

Economic expert Nabil Al-Marsoumi said - a televised statement that "the difference currently visible between the central bank and the market rate will continue until the budget is passed due to the state of uncertainty and uncertainty because everyone is waiting for the position of the Iraqi parliament on the 2021 budget, and what happens in terms of the difference between the official exchange rate and the exchange rate is caused by speculation and reaping."

 

Through it the banking offices are huge sums and may be less severe soon. " He added that "some believe that the decision to raise the exchange rate of the dollar is technical and was done through the central bank, although it is political and was made by a government decision from the Ministry of Finance," pointing out that "the Ministry of Finance wanted an exchange rate of 1600 dinars against the dollar, and the government and parliament contributed to determining the exchange rate and some Parliamentary statements throw more uncertainty and lead to repercussions in the market. "

 

He talked about government financial decisions in a deeper way, saying that "the timing of the recent government measures is very wrong. There is no country in light of the Corona crisis and the global recession that has devalued its currency and deducted from the salaries of its employees. All countries have a layer of quantitative management packages and injected money and aid to the public and private sectors."

 

He believed that "raising the exchange rate to reduce the budget deficit, according to what the government sees, is unsuccessful, because it will not provide more than 4 billion dollars for the budget, and this could have been covered through two measures presented by the Ports Authority and rejected by the Ministry of Finance."

 

He explained that "the two procedures require that customs duties be collected from imported goods upon opening documentary credits, and that fees are collected when granting import licenses, even according to the financial obtained the same value of the money it wanted by reducing the value of the dinar and ending the problem of money laundering."

 

He pointed out that "raising the dollar exchange rate will not support the local product for three reasons, the first of which is that most of its requirements and raw materials are imported from abroad, and because there is dumping of goods from neighboring countries in Iraq, and thirdly, the cost of production in our country is double the cost in those countries."

 

 

He pointed out that "reducing the exchange rate of the dinar and imposing taxes on salaries reduced its value in some segments by 50%, because the reduction included 25% of the salary and the exchange rate difference, which reduced its value by 25% as well."

 

Earlier, a member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Wednesday, that the House of Representatives has the authority to cancel or amend the article on tax deduction, as well as with regard to deducting employee salaries allocations.

 

Cougar said in an interview singled out (Baghdad Today), "Parliamentary Finance will study the draft of the country's general federal budget for the year 2021 accurately and amend the loopholes if they are contained in the draft law."

 

He added that "Parliament has the power to cancel or amend the article on the deduction of part of the employee allocations or with regard to tax deductions."

 

And that "the high rates of deductions, we will work to reduce them, provided they do not affect the employee significantly."

 

Last Tuesday, the reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, spoke about the most prominent remarks on the 2021 budget bill, and while noting that the budget is inconsistent with the country's economic reality, he suggested returning the bill to the government.

 

Al-Saffar said, in a televised interview, followed by (Baghdad Today): "Until now, the 2021 draft budget has not been sent to Parliament, which will need 4-5 days to study the project legally, after which the project will be transferred to the Finance Committee and we may use our powers to reduce spending."

 

Al-Saffar added, "This budget is inconsistent with the financial and economic situation in which the country is running, because it has high spending of 150 trillion dinars, according to the leaked version, which is very exaggerated," noting that "most of the paragraphs of the leaked draft are confirmed today that they are the same final draft."

 

And he continued, "The price of a barrel of oil on which the budget was built is illogical because it was $ 42 while the current price of a barrel was $ 52," explaining that "the reduction in the exchange rate of the dinar is supposed to be supported by a competitive local product, which is not there, and thus the prices of imported goods have risen." Covering the entire market. "

 

The reporter of the Finance Committee in Parliament confirmed that “the 2021 draft budget, and in case it does not comply with the government program and the economic reality, will be returned to the government,” indicating that “we need 30-45 days to study and approve the project if there are no internal and external political interference, and it may disrupt it. More".

 

He suggested that "Parliament will not accept the passage of more loans in the 2021 budget," reiterating his call for the need to "reduce public spending and raise the price of a barrel of oil in the budget, because every dollar can add one trillion dinars annually."

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The struggle of the dollar and the dinar is "getting hotter": determining the duration of the "exchange rate hike" and revealing "steps" that will sabotage the "government goal"!

2020-12-24

Yes Iraq - Baghdad

https://yesiraq.com/صراع-الدولار-والدينار-يزداد-سخونة-تح

 

Two measures that could have saved more money than the difference in the exchange rate of the dinar against the dinar were revealed by an economist, who pointed out that the Ministry of Finance requested that it be set at 1600 dinars to the dollar.

Economic expert Nabil Al-Marsoumi said - a televised statement monitored by "Yass Iraq": "The difference currently evident between the central bank and the market rate will continue until the budget is passed due to the state of uncertainty and uncertainty because everyone is waiting for the Iraqi parliament's position on the 2021 budget, and what happens in terms of the difference between the exchange rate." The official exchange rate is caused by speculation and through which the exchange offices are making huge sums of money, and it may be less severe soon.

He added that "some believe that the decision to raise the exchange rate of the dollar is technical and was done through the central bank, although it is political and was made by a government decision from the Ministry of Finance." Parliamentary statements throw more uncertainty and lead to repercussions in the market.

He talked about government financial decisions in a deeper way, saying that “the timing of the recent government measures is very wrong. There is no country in light of the Corona crisis and the global recession that has devalued its currency and deducted from the salaries of its employees. All countries have a layer of quantitative management packages and injected money and aid to the public and private sectors.”

He believed that "raising the exchange rate to reduce the budget deficit, according to what the government deems, is unsuccessful because it will not provide more than 4 billion dollars to the budget, and this could have been covered through two measures presented by the Ports Authority and rejected by the Ministry of Finance."

He explained that "the two procedures require that customs duties be collected from imported goods upon opening documentary credits and that fees are collected when granting import licenses, even according to the financial obtained the same value of the money it wanted by reducing the value of the dinar and ending the problem of money laundering."

He pointed out that "raising the dollar exchange rate will not support the local product for three reasons, the first of which is that most of its requirements and raw materials are imported from abroad and because there is dumping of goods from neighboring countries in Iraq, and thirdly, the cost of production in our country is double the cost in those countries."

He pointed out that "reducing the exchange rate of the dinar and imposing taxes on salaries reduced its value in some segments by 50%, because the reduction included 25% of the salary and the exchange rate difference, which reduced its value by 25% as well."

Earlier, a member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Wednesday, that the House of Representatives has the authority to cancel or amend the article on tax deduction, as well as with regard to deducting employee salaries allocations.

Cougar said in televised statements that "Parliamentary Finance will study the draft law of the general federal budget for the country for the year 2021 accurately and amend the loopholes if they are contained in the draft law."

He added that "Parliament has the power to cancel or amend the article on the deduction of part of the employee allocations or with regard to tax deductions."

And that "the high rates of deductions, we will work to reduce them, provided they do not affect the employee significantly."

Last Tuesday, the reporter of the Parliamentary Finance Committee, Ahmed Al-Saffar, spoke about the most prominent remarks on the 2021 budget bill, and while noting that the budget is inconsistent with the country's economic reality, he suggested returning the bill to the government.

Al-Saffar said, in a televised interview, "Until now, the 2021 draft budget has not been sent to Parliament, which will take 4-5 days to study the project legally, after which the project will be transferred to the Finance Committee and we may use our powers to reduce spending."

Al-Saffar added, "This budget is inconsistent with the financial and economic situation in which the country is running, because it has high spending of 150 trillion dinars, according to the leaked version, which is very exaggerated," noting that "most of the paragraphs of the leaked draft are confirmed today that they are the same final draft."

And he continued, "The price of a barrel of oil on which the budget was built is illogical because it was $ 42 while the current price of a barrel was $ 52." Covering the entire market. ”

The reporter of the Finance Committee in Parliament stressed that “the 2021 draft budget, and in case it does not comply with the government program and economic reality, will be returned to the government,” indicating that “we need 30-45 days to study and approve the project if there are no internal and external political interference, and it may disrupt it. More".

He suggested that "Parliament will not accept the passage of more loans in the 2021 budget," again calling for the need to "reduce public spending and raise the price of a barrel of oil in the budget, because every dollar can add one trillion dinars annually