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


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Deputy: Parliament will refuse to impose a tax or raise the price of the dollar

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The information / private ... The
representative of the Saeroun coalition, Badr Al-Ziyadi, confirmed, Thursday, that it is not possible to impose a tax on the total salary of employees and raise the exchange rate of the dollar together through the budget law, while the parliament will reject one of the paragraphs.
Al-Ziyadi said in a statement to / the information /, that "the House of Representatives will have a position on raising the price of the dollar and imposing a tax on the salaries of employees and may resort to canceling one of the paragraphs."
He added that "passing the tax on the total salary of employees and raising the exchange rate of the dollar together during the budget law for the next year is something that will not be achieved," indicating that "the budget will need 30 days to complete it within the House of Representatives."
The deputy for the Al-Fateh Alliance, Mukhtar Al-Mousawi, confirmed, last Monday, that the House of Representatives will refuse to accept the draft federal budget bill for 2021.
Last 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. 25 T

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

1608816250_143293.jpg
Baghdad today
News source / Baghdad today
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 evident between the central bank’s rate and the market 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 from the difference between the official exchange rate and the exchange rate is caused by speculation and reaping. Through the exchange offices, huge sums of money may be eased 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 an interview singled out (Baghdad Today), "Parliamentary Finance will study the draft federal budget law 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, followed by (Baghdad Today): “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."

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Al-Kazemi reviews his government's plan to overcome the country's crises

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 2020-12-24 13:34
 

Shafaq News / On Thursday, Prime Minister Mustafa Al-Kazemi reviewed his government's plan to a number of heads of Iraqi parliament committees to overcome the crises afflicting the country.

 

Al-Kazemi's office said in a statement received by Shafaq News that it held a meeting with a number of heads of parliamentary committees, in the presence of ministers and advisors.

 

During the meeting, they discussed the federal general budget for the fiscal year 2021, which was approved by the Council of Ministers, and reviewed the economic and security conditions that are going through Iraq in light of the current challenges, represented by the Corona pandemic and the financial crisis that accompanied it.

 

The statement stated that "the necessity of government reforms was emphasized, to put the country on the right path."

 

The statement added that Al-Kazemi "reviewed the procedures of government agencies and the directives of his sovereignty on the path of reform and ways to overcome these crises.

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12/24/2020 20:21
 

Al-Kazemi meets with the heads of parliamentary committees to emphasize the need for government reforms to put the country on the right path

 

Baghdad / Al-Masalla: The Prime Minister, Mustafa Al-Kazemi, held a meeting, on Thursday, December 24, 2020, with a

Prime Minister Mustafa Al-Kazemi held a meeting with a number of heads of parliamentary committees

---------------

The Prime Minister, Mr. Mustafa Al-Kazemi, held a meeting today, Thursday, with a number of heads of parliamentary committees.

During the meeting, they discussed the federal general budget for the fiscal year 2021, which was approved by the Council of Ministers, and reviewed the economic and security conditions that are going through Iraq in light of the current challenges, represented by the Corona pandemic and the financial crisis that accompanied it, and the need for government reforms was emphasized, to put the country on the right path. .

The Prime Minister reviewed the procedures of government agencies and the directives of his sovereignty on the path of reform and ways to overcome these crises.

The meeting was attended by a number of ministers and advisors.

Media Office of the Prime Minister

24-Dec-2020

Follow the obelisk 

 

 
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4 hours ago, 6ly410 said:

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

1608816250_143293.jpg
Baghdad today
News source / Baghdad today
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 evident between the central bank’s rate and the market 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 from the difference between the official exchange rate and the exchange rate is caused by speculation and reaping. Through the exchange offices, huge sums of money may be eased 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 system" rel="">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 federal budget law 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, followed by (Baghdad Today): “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."

You can read the news also from the source

GA DV's....It has been said the last time we were at 1600 or there about . Shabibi tried to make a change ...

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Representative Finance: Determining the exchange rate of the dollar is a government matter and it is its exclusive powers

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Today, Thursday, the Parliamentary Finance Committee issued a clarification regarding the exchange rate of the dollar, indicating that determining the exchange rate of the dollar is a governmental matter and one of its exclusive powers.

The committee said in a statement issued by the Information Department of the House of Representatives that "determining the exchange rate of the dollar is a governmental matter and one of its exclusive powers is that it is the one who designs and implements the financial and monetary policy," indicating that "the inclusion of that price in the draft Federal Budget Law for 2021 is to calculate the value of oil revenues and loans." International, which is calculated on a dollar basis and converted into Iraqi dinars depending on the exchange rate. "

 She pointed out that "that price was mentioned in the budget, and it is not intended to acknowledge or not, but to approve it in the calculation of revenues and expenditures only, as mentioned above."

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Editing date: 12/25/2020 11:01 • 100 read times
http://www.alliraqnews.com/uploads/news/image/medium/story_img_5fe59c5c11e2c.jpg
[Baghdad_Where]
Trade circles across Iraq are heading towards registering a lawsuit against the Minister of Finance and the Governor of the Central Bank of Iraq for approving the law to devalue the Iraqi currency.
"The decision to devalue the currency does not carry any positive trends, but rather harms the national economy and the commercial sector in particular," said trade expert and consultant to the Baghdad Chamber of Commerce, Salah Al-Shami.
He pointed out that "all the measures adopted by the affected business family are in accordance with the law in force in order to reverse this decision, which paralyzed commercial activity and inflicted great losses on the Iraqi merchant."
He pointed out that "the type of damage that the national economy was subjected to will be determined in detail, so that everyone can be informed of the great defect that the economy was exposed to as a result of the devaluation of the currency."
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Editing date: 25/12/2020 14:42 • 101 times read
http://www.alliraqnews.com/uploads/news/image/medium/story_img_5fe5d02ed1fd2.jpeg
[Baghdad-Where]
The Saeron bloc confirmed, on Thursday, a parliamentary effort to amend the 2021 Budget Law, while the government called for electronic linking of banking companies to control the currency market.
The MP for the Sawirun bloc, Majida Al-Tamimi, said in a press conference held at the parliament building with the participation of the representatives of the bloc and attended by a reporter that it was supposed to follow a customs policy to support local production and not reduce the value of the dinar against the dollar, noting that the decision to reduce the exchange rate of the dinar caused many repercussions, especially those with limited income. .

Al-Tamimi added: We will take the necessary measures with our partners by amending the budget law to conduct transfers, and we call on the government to connect all banking companies with an electronic link to control the currency market.

It indicated that there is a need for the Central Bank to launch development initiatives to preserve the dollar exchange rate.

She called Tamimi; The government to take the necessary measures to deal with the Central Bank’s decision, stressing that the government must import food and commercial items and pump them into the ration card items.
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Parliament needs 30 to 45 days to study and approve the budget. More than likely they will not pass it like they have in the past. Apparently some of them do not agree with the exchange rate and one of them called for the dismissal of Al-Khezmi's Government. Sounds familiar??? Can someone explain to me how will there be a RV in January with all of this going on. Not to mention the powder keg they are sitting on because the people are not happy. This devaluation is causing inflation and how long can the economy exist at this rate? I really hope there is a RV because something has to give and soon!! Keeping my fingers crossed!!

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A parliamentary move to adjust the exchange rate for a target of 3 million Iraqis - urgent

Posted 1 hour ago
News source / Baghdad today
1609013372_143455.jpg
Baghdad today
News source / Baghdad today
Baghdad Today - Special

A member of the Economic Committee in the House of Representatives, Nada Shaker Jawdat, confirmed, Saturday, December 26, 2020, that 3 million people will lose their jobs due to the increase in the dollar exchange rate compared to the Iraqi dinar.

Jawdat told (Baghdad Today), “The Iraqi Contractors Union, which represents a large sector in the country, and one of dozens of sectors affected by the raising of the dollar exchange rate, confirmed in our meeting with them that 3 million workers will lose their jobs due to the increase in the exchange rate, and expose them to great losses as a result. that".

She added, "The rise in the dollar exchange rate pushed all prices up, including the raw materials in which local industries operate," indicating that "support for the local industry comes through a road map that enters in multiple stages and not through a sudden decision, such as raising the dollar and making prices flame in the markets." .

"The House of Representatives will press towards discussing the possibility of modifying the exchange rate file after the arrival of the federal budget law," she said.

And a member of the Parliamentary Finance Committee, MP Faisal Al-Issawi, confirmed Thursday (12-24-2020), that the Presidency of the House of Representatives has not yet called for an emergency session to discuss raising the dollar exchange rate, while he indicated that the dollar exchange rate in Iraq is lower than all countries .

Al-Issawi said in a televised interview that she followed (Baghdad Today), that “the statement of the Minister of Finance regarding raising the exchange rate of the dollar and its impact on the Iraqi citizen was interpreted as preventing the withdrawal of the dollar after raising it, but there is great harm that will befall the simple citizen and everyone knows that.”

Al-Issawi added, "We are following the procedures for questioning the Minister of Finance, and there are a large number of deputies who collected signatures for that."

Al-Issawi said, "Prime Minister Mustafa Al-Kazemi's talk about the political forces’ approval of the dollar’s price during a meeting with their leaders is correct, and our dollar exchange rate is lower than all countries, but this case will not be prolonged for the prices in the Iraqi market to be reasonable.

Al-Issawi stated that "the beginning of the reform in the white paper must include a change in the exchange rate," indicating that "the exchange rate will stabilize less than 150 thousand dinars for 100 dollars and does not exceed that, and the exchange rate will remain between 147 and 148 thousand dinars."

With regard to holding an emergency session of the House of Representatives to discuss recent developments, he pointed out that "until now, the Presidency of Parliament has not called for an emergency session on raising the exchange rate and the budget. What was held yesterday is just a meeting by a number of deputies

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Parliamentary Committee: The high price of the dollar in Iraq is a catalyst for dependence on the local product

Parliamentary Committee: The high price of the dollar in Iraq is a catalyst for dependence on the local product
Archival photo
 

Mubasher: The Parliamentary Services Committee in Iraq confirmed, today, Saturday, that the high exchange rate of the dollar in the market is a catalyst for reliance on the local product.

 Walid Sahlani, head of the Parliamentary Services Committee in Iraq, told the Iraqi News Agency, "INA", today, Saturday, that the committee will raise the slogan of the national product first next year, because the economic situation that is going through Iraq, especially after the high exchange rate of the dollar, will give an incentive to adopt the local product. .

Sahlani indicated that the quality of the national product is sufficient to support its marketing ability.

Al-Sahlani added that the asphalt plants, the private sector and self-financing companies, especially the companies that are related to the Ministry of Industry, need to support the government through loans and create an economic vision.

He indicated that many imported construction materials depend on the local consumer’s conviction with the quality of the foreign product, calling for setting specific quality controls to promote local production.

Al-Sahlani stressed the importance of dealing with crises with proper management, in order to make great achievements, noting that many projects at aluminum and petrochemical plants have stalled, either due to unjustified or deliberate red tape.

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The central bank responds to fears of the collapse of the dinar after raising the dollar’s rate - urgent

Posted 3 hours ago
 
1609089918_143538.jpg
Baghdad today
News source / Baghdad today

Baghdad Today - Baghdad

Ihsan Shamran, a counselor at the Central Bank of Iraq, revealed that the Ministry of Finance provided two reasons for raising the exchange rate of the dollar against the dinar, while noting that the Iraqi dinar is strong and will not collapse according to two international standards.

"There was a dialogue for the Central Bank and the Ministry of Finance with the International Monetary Fund to raise the exchange rate to 1450 dinars against the dollar to improve the performance of public finances," Shamran said in a televised interview.

He added, "There are two reasons provided by the Ministry of Finance to raise the exchange rate during its discussions with the Central Bank. The first is the decline in the state's resources due to low oil prices, and the second reason is to create competition in the Iraqi economy that allows national production to be strong in front of the foreign commodity. In return, the vulnerable classes must be supported with a fund and a special account. To support them with financial grants. ”

Regarding concerns about the collapse of the value of the dinar against the dollar due to a change in the exchange rate, Shamran said, According to international standards, the Iraqi dinar is one of the strong currencies because there is a reserve of funds in the Central Bank that exceeds 60% of the source for trading as a condition for considering it strong and this is the first criterion for its strength.”

He added, "International standards stipulate that the currency should be strong and not collapse, that there should be reserves that secure 6 months of foreign trade, and the bank’s current reserves ensure 26 months.

Yesterday, a member of the Economic Committee in the House of Representatives, Nada Shaker Jawdat, confirmed, on Saturday, that there is a parliamentary tendency to request a change in the exchange rate for a reason related to 3 million Iraqi citizens.

Jawdat told (Baghdad Today), “The Iraqi Contractors Union, which represents a large sector in the country, and one of dozens of sectors affected by the raising of the dollar exchange rate, confirmed in our meeting with them that 3 million workers will lose their jobs due to the increase in the exchange rate, and expose them to great losses as a result. that".

She added, "The rise in the dollar exchange rate pushed all prices up, including the raw materials in which local industries operate," indicating that "support for the local industry comes through a road map that enters in multiple stages and not through a sudden decision, such as raising the dollar and making prices flame in the markets." .

"The House of Representatives will press towards discussing the possibility of modifying the exchange rate file after the arrival of the federal budget law," she said.

 

He stressed that there is no danger to the dinar and there will not be a collapse because of the availability of these two standards, and also the Central Bank and the three major banks, Rafidain, Rasheed and Al-Iraqi Trade, have large sums of money and we believe that strengthening the sobriety of the Iraqi dinar will push citizens to abandon the dollar

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calendar.png 2020/12/27
 
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Baghdad / Al-Mawred News

 

Today, Sunday, a member of the Parliamentary Economic Committee, Mazen Al-Faily, made several observations about the 2021 budget and calls on parliament to take a responsible position to amend it, pointing out that the decision to raise the dollar does not provide the state with only 12 trillion.

Al-Faily said, in a press conference: "Below is a set of observations about the draft General Budget Law for 2021:

1. The estimate of expenditures included in the 2021 budget,   amounting to (150) trillion dinars, is very surprising  , as we believe that the realistic estimate of the expenditures required for the year 2021 does not exceed  (89) trillion in comparison to what was spent in 2020. Noting the change in the dollar exchange rate.

And he stated: “The actual spending for the year 2020  did not exceed (72) trillion, and by calculating the rise in  the exchange rate of the dollar for the  2021 budget by 18% higher than in the year 2020,  the total expenditure due for the year 2021 does not exceed (89) trillion dinars, and what the government requires exceeds this number by an amount (61) trillion dinars, which is  clear evidence of a very large exaggeration in the 2021 budget figures, and is inconsistent with the principle of reducing expenditures and eliminating unnecessary ones.

And he demanded the House of Representatives to "take a responsible position to amend the draft budget that the Cabinet voted on based on the facts mentioned above."

2. We affirm the reduction of the salaries of senior state officials, those with special grades, and general managers by a higher rate than that imposed by the 2021 budget, and we refuse to reduce the salaries of the rest of the employees.

3. We believe that the decision to raise the exchange rate of the dollar is urgent and ill-considered and results in severe economic and social damage. The amount that is available to the state from this decision does not exceed  12 trillion. More than double it can be achieved and avoiding this harmful decision by following the following solutions: -

a. Compression of expenditures and elimination of unnecessary ones such as transfers  and delegations, and the closure of embassies in countries where there is no clear benefit from their existence.

B - Collection of oil derivative revenues for the local refineries supplied by the government with crude oil, which estimate the value of the product from one barrel (150) dollars.

C-  Fully collecting taxes and fees on mobile phones and banks benefiting from the currency auction.

D- Collect customs revenues and subject all its transactions to electronic scrutiny (automation). This alone exceeds (10) trillion dinars annually, according to statements by Iraqi Finance Ministry officials.

E- Handing over all produced region’s oil and all other imports thereof to the federal authority.

F- Completing the biometric audit of employees and eliminating hundreds of thousands of fake jobs.

G- Adopting precise and resolute mechanisms for collecting fees and levies that reach the ministries

H - Rescheduling external debts, postponing payment of internal debts and Kuwait's compensation.

I - Canceling the contracts of licensing rounds and the region's partnership contracts with foreign companies, and finding an alternative formula to achieve the highest economic benefit to Iraq

J - Raise the interest of government banks to 10% to encourage citizens to deposit with the state and provide liquidity instead of paying interest to foreign companies and banks at a higher rate than this, and citizens are more likely to pay this interest.

K - Encouraging the private sector, especially in building housing complexes to solve the housing crisis, employ the unemployed, and move the economy wheel.

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The information / Baghdad ..
Member of the Parliamentary Economic and Investment Committee, Nada Shaker Jawdat, revealed, on Monday, that a new date has been set for the emergency session to discuss the market crisis, indicating that Parliament will not allow any prejudice to the simple rights of citizens.
"The House of Representatives set a date for the seventh of next month to hold an extraordinary session to discuss the implications of raising the dollar on the market," Jawdat said in a statement to / the information.
She added, "Parliament cannot continue to remain silent about the government about compromising the salaries of employees, manipulating the prices of the dinar, and harming citizens."
Jawdat explained that "the only possible action is to reduce the salaries of special grades, as well as to issue a comprehensive economic plan to ensure a reduction in the total dependence on oil in the budget."

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Representative Economic Announces Parliament's position on the dollar exchange rate in the budget

 

  •  Today, 12:24
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Baghdad - IQ  


The Parliamentary Economic Committee announced, on Tuesday, (December 29, 2020) the position of Parliament on the exchange rate of the dollar in the budget, while indicating that the government has no other solutions.

A member of the committee, Ali Al-Lami, told  IQ NEWS , "The government has no other solution than passing the dollar exchange rate mentioned in the budget," indicating that "there is almost an agreement between the political blocs to pass the same exchange rate."

He added that "changing the exchange rate will affect the citizen in the rise in the prices of imported goods, especially since Iraq has no local product and most of its goods are imported," stressing that "the government has no other solutions in order not to cut the salaries of employees."

Majda Al-Tamimi, a member of the Finance Committee in the House of Representatives, announced Friday (25 December 2020) that her committee seeks to reduce the effects of changing the dollar exchange rate on the "vulnerable class."

And the Central Bank set a new exchange rate for the national currency, to raise the dollar to 1450 dinars, compared to 1190 dinars before the decision.

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Parliamentary Finance reveals the fact that there is a representative tendency to change the exchange rate of the dollar

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Baghdad / A. R

A member of the Parliamentary Finance Committee revealed, today, Tuesday, the fact that there is a representative tendency to change the exchange rate of the dollar in the budget of next year.

Naji Al-Saeedi stated to (Iraqi Media News Agency /) that “there is no truth to the news circulating through social media platforms and some media, regarding the intention of the Financial Committee to intervene to change the exchange rate of the dollar in the next year's budget.”

He added, "Determining the exchange rate of the dollar is within the monetary policy and within the jurisdiction of the Central Bank of Iraq

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