After More Than A Month Of The Parliamentary Movement .. Setting An Official Date For The Questioning Of The Governor Of The Central Bank: Will The Dollar Price Return To 120 Thousand?

[screwball]

10 hours ago, GreedyDinar07 said:

350 Trillion! Who in the hell would print up that amount of currency! What is this...Zimbubwa??? SMH! 

Who said they did 

[rvmydinar]

13 hours ago, GreedyDinar07 said:

350 Trillion! Who in the hell would print up that amount of currency! What is this...Zimbubwa??? SMH! 

The question is Who are the dinar buyers out of iraq? Dinar dealers and dinar sellers on ebay in the us. Can you imagine how much profits have dinar dealers and dinar sellers on ebay made with that amount of 350 trillion dinar? While they have made huge profits on the spread by selling their dinars to dinar investors, some of dinar investors are just sitting like a dead and frustrated duck waiting for the miracle ( rv ) to happen and count their blessings.

[DinarThug]

20 hours ago, DinarThug said:

20% of the monetary mass is in the hands of the state only ... Presenting 4 solutions to ensure the continuation of salary payments - urgent

 

Posted 1 hour ago

 

Baghdad today - Diyala

 

The economic expert, Rasim Al-Aqidi, said today, Tuesday (February 2, 2021), that the Iraqi state has only 20% of the monetary mass at the present time, in light of a financial crisis that requires the government to withdraw financial liquidity to cover its expenses.

Al-Aqidi said in an interview with (Baghdad Today), "The Iraqi state after 2003 intended to print 61 trillion dinars in different denominations, but what it actually has is only 20% of the total cash mass," noting that "the remainder in the largest part of it goes to Neighboring countries and private banks, most of which act as tools for those countries, in addition to the money stored in homes.

Al-Aqidi added, "The state suffered after 2003 from the lack of control over its balances in the monetary mass, and it represents an important and essential function of the Ministry of Finance and the Central Bank, which prompted the latter to sell the dollar in an attempt to withdraw the cash balances since the presence of 20% of the monetary mass cannot enable it Paying salaries, and the rest of other dues, which require availability of at least 50% of the mass in the hands of the state in order to pay all financial obligations.

With regard to the state’s orientation to print currency, in order to avoid the financial crisis, the economic expert believes that “there is no benefit in the process of printing any money in light of the lack of control over the monetary mass.”

Regarding the mechanism of controlling cash masses, he pointed out that “controlling cash blocks is through means that are not complicated, the first of which is the localization of employees’ salaries, the second is the use of electronic cards, in the exchange of funds and the third is the adoption of modern frameworks in managing financial assets and the fourth is seeking to launch incentives for payment Citizens to put their money in government banks to increase the cash mass of the government, through which it succeeds in paying all expenses and salaries.

Recent data revealed that the volume of money smuggled outside Iraq is estimated at 300 billion dollars.

The Parliamentary Integrity Committee confirmed that the volume of money smuggled outside Iraq is estimated at 350 trillion dinars, “about 300 billion dollars,” while the estimated amount of money spent in previous years in fake contracts.

Committee member Taha Al-Dafi said, "The government formed a committee to combat corruption, and this committee worked during the first days in a clear and significant way, but it retreated during the recent period due to political pressures, as various accusations were directed against it," expressing his hope for the continuation of its work, and the investigation into More important issues such as corruption files rampant in some ministries.

He continued: "The funds spent after 2003 are estimated at a thousand trillion, and include the budgets of the operational and investment ministries, as huge funds were wasted in contracting cases, as well as the corruption that was rampant in most of the contracts contracted by the ministries and governorates."

"We did not touch any clear project that was completed in Baghdad or the provinces, and most of the projects were referred to impeccable companies, and they were dealt with the worst commissions, so the works were not completed, and the money remained on simple projects, but we did not see strategic projects as main roads and fast bridges," he said.

He pointed out to "smuggling up to 350 trillion dinars outside Iraq during the past years, all of them via fake receipts, in exchange for commissions obtained by some officials."

The estimated volume of Iraqi money smuggled outside the country is about $ 500 billion, according to the Parliamentary Finance Committee.

The reporter of the Parliament’s Financial Committee, Ahmed Al-Saffar, said in a special statement to Al-Ain Al-Akhbariya that it is time to retrieve this money that was stolen years ago.

These funds are distributed between two periods in the history of Iraq, the first before 2003, and the other period after.

For years, successive Iraqi governments have sought to recover these funds, but this has not been achieved, despite the difficult economic conditions that the Iraqi people are experiencing.

And recently, the Iraqi Ministry of Planning revealed a statistic that shows that nearly 10 million Iraqis live below the poverty line.

And the Iraqi Ministry of Planning indicated that it had developed plans and treatments to reduce those rates during the current year.

The ministry's spokesman, Abdul Zahra Al-Hindawi, said in a statement, that Al-Ain News obtained a copy of it, that “the circumstances that passed in Iraq contributed to the high rate of poverty, as the poverty rate at the end of 2019 was 20%, but with the entry of Iraq into the tunnel of the crisis. The double, the Corona pandemic and the accompanying financial crisis, due to the decline in oil prices, have greatly affected the high poverty rate in the country.

link

 

9 hours ago, screwball said:

Who said they did 

Good Catch Screwball !  

 

 

I Think That They Were Discussing A ‘Monetary Amount’ In Dinars And That The ‘Iraqi Money’ Refers To Who It Belongs To - The Money Stolen From The Auctions ‘During The Past Years’ Was From The Sale Of Dollars !  
 

And Obviously There’s Been Numerous Times Where These ‘Arabish’ Translations Have Totally Muddled The Crap Out Of The Meanings...

 

     

 

 

He pointed out to "smuggling up to 350 trillion dinars outside Iraq during the past years, all of them via fake receipts, in exchange for commissions obtained by some officials."

The estimated volume of Iraqi money smuggled outside the country is about $ 500 billion, according to the Parliamentary Finance Committee.

[DinarThug]

13 hours ago, DinarThug said:

The Kurdistan Democratic Party (KDP): The region’s delegation’s meetings in Baghdad were positive

 

2nd February, 2021

The head of the parliamentary bloc of the Kurdistan Democratic Party, Vian Sabri, described the meetings held by the negotiating delegation of the Kurdistan Regional Government in Baghdad as "positive."


Sabri said in an interview carried by Kurdish media, "The meetings of the Kurdistan Regional Government's negotiating delegation with the Finance Committee in the Iraqi parliament were positive, as the delegation provided all data and details on all outstanding issues between the two sides to the committee."


She added, "The Kurdistan Regional Government is committed to the constitution, and the Kurdistan Democratic Bloc supports Articles 10 and 11 related to the share of the Kurdistan region, which were set by the draft budget for 2021 as 12.67."

 

LINK

Parliament is considering settling accounts between Baghdad and Erbil

 

3rd February, 2021

The Parliamentary Finance Committee hosted the two heads of the Federal Financial Supervision Divisions, Rafil Yasin, and the Kurdistan Region, Khaled Hadi, to coordinate between the two institutions in the public interest of the Iraqi people.

Deputy for the committee, Jamal Cougar, said, "The Parliamentary Finance Committee hosted during its meeting today, the heads of the Federal Financial Supervision Divisions, Rafil Yassin, and the Kurdistan Region, Khaled Hadi, to coordinate between the two institutions in the public interest of the Iraqi people. And, "the Finance Committee stressed during the meeting the need to strengthen coordination and cooperation between the two institutions and to bridge points of view to ensure the rights of all components of the Iraqi people."

Cougar added, "The Financial Committee posed many questions that focused on financial matters to the President of the Office of Financial Supervision in the Kurdistan region, who in turn answered the questions of the members of the committee." The committee member continued, "The meeting also discussed the first paragraph of Article 10 of the draft federal budget law for the year 2021, which provides for the settlement of accounts between the Kurdistan Regional Government and the federal government, in addition to some pending financial files."  

[DinarThug]

22 hours ago, DinarThug said:

Deputy reveals huge numbers of money smuggled by Saddam's regime

2nd February, 2021

A member of the Economic Committee in the Iraqi Parliament, Mazen Al-Faily revealed, today, Tuesday, the amount of money smuggled out of Iraq during the era of Saddam Hussein's regime.

Al-Faili told Shafaq News, "The money smuggled by Iraq during the era of the former regime amounts to $ 500 billion, which is equivalent to the 5-year budget in the current Iraq situation."

He added, "This money is found in most of the large European banks."

"Iraq needs modern legal legislation, and international experts are brought in to study how to recover this money, as the country is in dire need of it at the present time," he said.

 

22 hours ago, DinarThug said:

"The money smuggled by Iraq during the era of the former regime amounts to $ 500 billion, which is equivalent to the 5-year budget in the current Iraq situation."

He added, "This money is found in most of the large European banks."

 

10 hours ago, screwball said:

Really and that’s good who think 1:1 could happen I do!!!’

 

Ya Let’s Put The Frickin’ Hammer Down , Big Bucks - No Whammies !  

 

 

     

[GreedyDinar07]

Now they just need to add that to the money Maliki stole which is in the Billions...!!!

[DinarThug]

LINK

Brokerage firms buying and selling foreign currencies wishing to merge

 

 

3rd February 2021

Given the importance of the merger project of brokerage companies selling and buying limited foreign currencies and converting them to larger financial institutions, and based on the role of this bank to develop this sector in support of the Iraqi economy, so it was decided to keep the period open for your companies wishing to merge.

[DinarThug]

3 hours ago, DinarThug said:

Parliament is considering settling accounts between Baghdad and Erbil

 

LINK

A "decisive" parliamentary-government meeting regarding Kurdistan's oil exports
 

3rd February, 2021

 

The Parliamentary Finance Committee will hold a meeting on Wednesday in the presence of government officials to resolve the issue of Kurdistan Region oil exports in the country's financial budget for the current year.

The Shafaq News Agency correspondent stated that "the Parliamentary Finance Committee started its 39th meeting to resume its discussions on the draft federal budget bill."  The meeting was held in the presence of Minister of Oil Ihsan Abdul-Jabbar, and Director of the Iraqi Oil Marketing Company "SOMO" owned by Baghdad, Alaa Al-Yasiri, to settle the issue of the region's oil exports in the budget.

On Tuesday, sources revealed to Shafaq News Agency that the Shiite blocs had raised their demands by informing the Kurdish delegation to hand over the revenues of 500 thousand barrels per day to the federal government instead of 250 thousand barrels per day, in exchange for the region receiving its full share of the budget without any shortage.

This requirement contradicts the agreement reached by Baghdad and Erbil, which stipulates handing over the region revenues of 250 thousand barrels per day and half of the other revenues from border crossings and others, in exchange for a share estimated at 12.6 percent of the budget in addition to the payment of the salaries of the Peshmerga forces.

The agreement was included in the draft budget approved by the Iraqi government and sent to Parliament for approval, but the regional government delegation returned to Baghdad again to persuade the political blocs in Parliament to pass the region’s share.

The regional government says it exports 250 thousand barrels per day of oil produced from its fields, and what remains goes to domestic consumption, which makes it unable to meet the new demands of the Shiite blocs, which could lead to the collapse of the talks.

[DinarThug]

Parliamentary Finance raises notes on changing the exchange rate of the dollar against the dinar

Posted 5 hours ago

 

 

News source / NR TV

 

 

The Parliamentary Finance Committee announced, on Wednesday, that suddenly changing the exchange rate of the dinar against the Iraqi dinar is not consistent with the financial situation of citizens

The reporter of the Finance Committee, Ahmed Al-Saffar, said, in a televised interview with NRT Arabia, today (February 3, 2021), that “determining and changing the exchange rate is not within the authority of Parliament, but the government, stressing that“ the Parliamentary Finance Committee hosted the Minister of Finance Ali Allawi more than Once, the man is a specialist and has experience, but they must integrate with reality in theory and practice

He added, "The first observation about the change in the exchange rate was surprising and it is assumed that it is gradual and consistent with the current financial situation of the citizens, and the second is that Iraq is not ready for such a procedure because reducing the price of the dinar against the dollar raised the price of imported goods and Iraq has no competing local product and thus it was damaged Citizens due to inflation

He explained, that the third observation is that "Iraq is not ready to change the exchange rate in order to encourage development through investment because it does not have an investment environment free from risks and corruption

He continued, "The problem with the minister is that he does not know the details of the Iraqi individual's life. If he went to the eastern gate and to the Shorja as commercial areas and visited poor areas in Baghdad, for example, he would have been informed of the reality of the people's standard of living

Regarding the budget items and comparing them to the living conditions of the citizens, the decision of the Finance Committee said, “Yesterday we received the latest report from the Minister of Planning, Khaled Battal, on poverty in Iraq, and it contains catastrophic figures. Financial and human, there are provinces in which the proportion of people living below the poverty line is above fifty percent

LINK

[horsesoldier]

Way toooooo much chin wagging.....not enough DOING.

[screwball]

2 hours ago, DinarThug said:

Parliamentary Finance raises notes on changing the exchange rate of the dollar against the dinar

Posted 5 hours ago

 

 

News source / NR TV

 

 

The Parliamentary Finance Committee announced, on Wednesday, that suddenly changing the exchange rate of the dinar against the Iraqi dinar is not consistent with the financial situation of citizens

The reporter of the Finance Committee, Ahmed Al-Saffar, said, in a televised interview with NRT Arabia, today (February 3, 2021), that “determining and changing the exchange rate is not within the authority of Parliament, but the government, stressing that“ the Parliamentary Finance Committee hosted the Minister of Finance Ali Allawi more than Once, the man is a specialist and has experience, but they must integrate with reality in theory and practice

He added, "The first observation about the change in the exchange rate was surprising and it is assumed that it is gradual and consistent with the current financial situation of the citizens, and the second is that Iraq is not ready for such a procedure because reducing the price of the dinar against the dollar raised the price of imported goods and Iraq has no competing local product and thus it was damaged Citizens due to inflation

He explained, that the third observation is that "Iraq is not ready to change the exchange rate in order to encourage development through investment because it does not have an investment environment free from risks and corruption

He continued, "The problem with the minister is that he does not know the details of the Iraqi individual's life. If he went to the eastern gate and to the Shorja as commercial areas and visited poor areas in Baghdad, for example, he would have been informed of the reality of the people's standard of living

Regarding the budget items and comparing them to the living conditions of the citizens, the decision of the Finance Committee said, “Yesterday we received the latest report from the Minister of Planning, Khaled Battal, on poverty in Iraq, and it contains catastrophic figures. Financial and human, there are provinces in which the proportion of people living below the poverty line is above fifty percent

LINK

this says to me we could be close not changing the rate WILL discourage investment

[DinarThug]

Supporting economic reform

 

Wednesday 03 February 2021

 

Dr. Hussein Jaber Al-Khaqani

 

 

In previous years, the government adopted an economic policy based on expanding public spending, and one of the most important manifestations of this expansion was to achieve an increase in the number of workers through the creation of government jobs during the past seventeen years with increases in salaries and allowances with an increase in the purchasing power of the Iraqi dinar to more than Weakness since 2003. This stimulated consumer spending among the public and created a large commercial class to meet the increasing demand for consumer goods.

Stimulating domestic demand by the government is an economic policy to achieve economic goals that are reflected in development, employment, poverty alleviation, and increased state resources, but this policy did not contribute to stimulating productive activity, but rather contributed to disrupting it in favor of import activity to meet the growing consumer needs, relying on oil revenues to implement This policy. 

To stimulate productive activity, the 2021 budget relied on raising the exchange rate of the Iraqi dinar against the US dollar to allow greater competitiveness for the industrial sector. This achieves part of the required positive impact, but requires reducing taxes and fees on the productive sectors to avoid a contraction of both consumer and investment demand. This reduction in financial burdens can be directed towards production centers that contribute to filling a proportion of the local need from production, operating a percentage of unemployment, using a greater proportion of the available raw materials, and exporting the product. The increasing pressure on the entry of the employee and retired segment will discourage spending and investment.

From the increase in production activity and the export of finished or semi-finished goods, foreign currency is available without total dependence on sales of crude oil, and the state's resources will increase. A distinction should be made between importing consumer or luxury goods from other imports involved in the production process, such as capital goods, machinery, equipment, spare parts, technology and intermediate goods. The best way to differentiate is the adoption of a preferential exchange rate and financial incentives, which can be expressed by creating an account dinar as one of the financial assets that are used in the production activity.

LINK

[DinarThug]

LINK

Parliamentary Finance: There is no intention to reduce the dollar exchange rate

 

 

 

16:02 - 04/02/2021

 

 

The Parliamentary Finance Committee confirmed, on Thursday, that there are no intentions to reduce the exchange rates of the dollar, despite the presence of some claims, confirming that the current exchange rate remains the same.

A member of the Finance Committee, Jamal Cougar, told "the information" that "there are some requests from members of the Finance Committee and others to reduce the dollar exchange rate."

He added that "these matters did not go beyond being requests only," noting that "the Finance Committee has no intention of changing the exchange rate by reducing the fact that the matter is approved by the Cabinet."

Couger explained that "the Financial Committee does not exceed its powers with recommendations and is not binding on the government with regard to lowering the exchange rate," indicating that "the matter is exclusively vested in the government and its powers."

[DinarThug]

LINK

Kurdish MP: Passing the budget without the approval of the region is very difficult

 

 

 

02/04/2021 14:55:20

 

 

The deputy of the Kurdistan Islamic Group, Salim Hamza, confirmed that passing the budget bill without the approval of the region and keeping them away from this legal and constitutional quota is very difficult.

"The Kurdish delegation returned to the region and did not reach any agreement and left some proposals to the legal committee," Hamza said in an interview with the Euphrates News Agency, noting that "the delegation will return next week to settle the matter with the Iraqi government."  He added that "during the vote on the draft budget, the House of Representatives and the Presidency will present these proposals to members of Parliament and await approval or rejection," stressing that "the last factor is in the hands of the House of Representatives." Hamza said that "if the government rejects the region’s share, this means that the government does not recognize the region."

It is noteworthy that the Parliamentary Finance Committee has held, to date, 40 meetings on the budget debate, in which dozens of officials and a delegation from the Kurdistan Regional Government have hosted more than once. It is noteworthy that the Kurdistan Regional Government delegation, which returned to Erbil yesterday, has not lost hope yet, and it is scheduled to start a new visit to Baghdad early next week, as this visit will be for a final dialogue, according to sources. 

[DinarThug]

LINK

Barzani Party: The oil crisis between Baghdad and Erbil is on its way to a solution

 

 

 

11:19 - 04/02/2021

 

The deputy for the Kurdistan Democratic Alliance, Khaleda Khalil, confirmed, Thursday, that the outstanding oil crisis between Baghdad and Erbil is on its way to a solution, indicating that the regional government has shown its willingness to hand over 250 thousand barrels to the federal government.

Khalil said in a statement to / information /, that "the regional government is in dire need of what is in the course of negotiations between the two sides to resolve the oil crises." She added that "there are good signals between the two parties that would end the dispute over the rights of the region in the draft federal budget law for 2021."

She indicated that "the region has sent positive messages to deliver 250 thousand barrels of oil to the federal government in exchange for including the region's rights in full in the budget," stressing "the need to continue dialogue between the two parties in order to reach an agreement in the near future."

A member of the Parliamentary Finance Committee, Siham Shenoun, had preferred, in a previous statement to "the information", to pass the 2021 budget law with the approval of the region at the last moments. 

[DinarThug]

LINK

Parliamentary Finance: Deleting the tax clause on employee salaries and replacing it with "income tax"

 

 

4th February, 2021

The Parliamentary Finance Committee announced, on Thursday, that it has finished discussing the articles of the general budget law for the year 2021, while pointing to the abolition of the tax deduction for employees' salaries.

Committee member Jamal Cougar told Shafaq News, "The Parliamentary Finance Committee has finished discussing all articles of the General Budget Law, except for the article related to Kurdistan Region oil revenues."

He added that "the Finance Committee is now working on drafting additives to the budget law before the law is presented to a vote in the parliament session."

Cougar pointed out, "The abolition of the clause withholding the employees salaries tax from the budget law and replacing it with the Income Tax Law No. 113 of 1982.

[DinarThug]

LINK

Deputy favors passing the budget with the approval of the region in the last moments

 

 

 

13:07 - 02/03/2021

 

Member of Parliament, Siham Shenoun, confirmed, on Wednesday, that the pressure exerted by the region on the Finance Committee is great, including the threat of the region’s representatives to boycott the voting session, but it will not affect the fairness of distribution. The budget is likely to be passed with the approval of the region at the last moments.

Shannon said in a statement to / the information /, that “the region’s demands have been used to it every year when preparing annual budgets in an attempt to gain as much as possible from obtaining funds. However, the Finance Committee works according to the legal measurements and contexts without paying attention to the pressures exerted by the regional governments. When preparing annual budgets.

She added that "waving the region’s representatives after attending the vote session on the budget is part of the pressures that are exercised at every budget, and thus it is retracted when they feel that all the doors are set in front of them," suggesting that the budget will pass with the approval of the region at the last moments.

The deputy of the State of Law coalition, Mansour Al-Baiji, demanded, today, to present the budget on the agenda of the nearest session in order to be passed by the political majority in the event that the Kurdistan Regional Government continues to procrastinate. 

[DinarThug]

LINK

Bolton sends a message to "the architect of the division of Iraq": It is time for Kurdistan to separate from Baghdad, which is controlled by Iran

 

4th February, 2021

Former US National Security Adviser John Bolton urged the current US President Joe Biden to support the Kurds, leading to the establishment of an independent state.

"Iraqi Kurdistan must be independent and its independence referendum be supported," Bolten said. "The separation of the Kurds from Baghdad is the best option for the sake of the safety and stability of the region."

And that "it is clear that Biden does not want the return of ISIS, and there are American forces in the region, and there are continuous relations with the Kurdistan Regional Authority, and there is support for the Kurds, at the same time the current government in Baghdad is subject to Iranian control more than it was in the successive governments, and that The spread of Shiite militias as a destructive force in non-Shiite regions. "

Bolton said in an interview with the Kurdish "k24" TV, "I realize that it is difficult, but now is the time to speak with the US Congress and pressure it to convince the Biden administration that it is in the interest of the United States to continue its strong relations with the Kurds and not to withdraw from the region."

But he pointed out that Biden was the architect of the "division of Iraq" into a Kurdish region, a Sunni and a third Shiite, "but he is still busy organizing his team, and he is now in a transitional stage and we have to wait to see what he intends to do and what he wants to do."

[screwball]

3 minutes ago, DinarThug said:

LINK

Bolton sends a message to "the architect of the division of Iraq": It is time for Kurdistan to separate from Baghdad, which is controlled by Iran

 

4th February, 2021

Former US National Security Adviser John Bolton urged the current US President Joe Biden to support system" rel="">support the Kurds, leading to the establishment of an independent state.

"Iraqi Kurdistan must be independent and its independence referendum be supported," Bolten said. "The separation of the Kurds from Baghdad is the best option for the sake of the safety and stability of the region."

And that "it is clear that Biden does not want the return of ISIS, and there are American forces in the region, and there are continuous relations with the Kurdistan Regional Authority, and there is support system" rel="">support for the Kurds, at the same time the current government in Baghdad is subject to Iranian control more than it was in the successive governments, and that The spread of Shiite militias as a destructive force in non-Shiite regions. "

Bolton said in an interview with the Kurdish "k24" TV, "I realize that it is difficult, but now is the time to speak with the US Congress and pressure it to convince the Biden administration that it is in the interest of the United States to continue its strong relations with the Kurds and not to withdraw from the region."

But he pointed out that Biden was the architect of the "division of Iraq" into a Kurdish region, a Sunni and a third Shiite, "but he is still busy organizing his team, and he is now in a transitional stage and we have to wait to see what he intends to do and what he wants to do."

Bolton is a deep state rat Biden is a deep state Chinese rat isn’t interesting that article now when they are about to deal 

[GreedyDinar07]

Bolten is the "Former US National Security Advisor" but if there is any truth to what he is saying that Iran is more in control in Iraq than it has been in the past, then we will never see a RV. If this is the case we have lost the war, money and lives just to hand the Country over to Iran who Sadaam has fought against for years. If Iran is still controlling Iraq then Khademi is a fraud and we all have been played. Didn't some advisor just take a trip to Iran?

This is terrible news but sometimes the truth aint pretty! Damn! I wish I would have never invested in this BS!!!!!!!!!!!!!!!!!!!!!!

[DinarThug]

1 hour ago, GreedyDinar07 said:

Damn! I wish I would have never invested in this BS!!!!!!!!!!!!!!!!!!!!!!

Ya - Weegie Almost Had Me Talked Into Going With Some Big Time Wall Street Investor At That Time !  

 

 

     

[DinarThug]

Report .. Iraqis resort to buying real estate after reducing the exchange rate of the dinar

 

Posted 7 hours ago

 

News source / Baghdad today

 

Baghdad Today- Follow up

 

A press report revealed that a large number of Iraqis are moving towards buying real estate after the government's decision to reduce the value of the Iraqi dinar, as a step to confront the economic deficit that the country suffers from

And it was stated in the report published by the Independent that the real estate market in Baghdad may be the only one that has not been affected by the economic crisis in the country since the beginning of 2020, as it witnesses movement and rise in prices, in a large number of areas of the capital, especially during the past weeks

And the indications since the lifting of Corona restrictions on Iraqi cities last (August) show a movement of demand for real estate buying and selling

The movement retreated after the decision to reduce the value of the Iraqi dinar, at the end of last year

It seems that the reduction of the Iraqi dinar exchange rate, and the citizen’s lack of confidence in the calls of government and private banks to invest money by depositing it in it and the risks of investments in other sectors, are two things that encouraged the Iraqi citizen to invest in another field that he believes is guaranteed. This trend is fueled by the fact that there are no signs of improvement in the political and economic situation in the country

According to the report, the Economic Committee in the Iraqi Council of Representatives expects that the approval of the budget will restore the confidence of the Iraqi citizen in the economy and reduce the current wide movement in the real estate market, especially in the capital

A member of the Economic Committee, Salem Al-Tufayli, says that "the high exchange rate of the dollar in the local markets has pushed citizens to tend to buy real estate as a kind of guarantee," considering that approving the budget and a number of government measures will reduce the growing demand for real estate

Tufayli notes that "there is a lack of confidence in Iraqi banks, which made many citizens who have money tend to buy real estate as a form of investment

Tufayli points to "the existence of a number of paragraphs in the budget that will work to reduce the negative effects of the economic situation in which the citizen lives, which creates a kind of reassurance for the citizen

Overpopulation, immigration and investment guarantee

The report indicates that large groups of the new wealthy who are the product of dealings with the Iraqi state institutions in recent times have gone to buy real estate in large sums in high-end neighborhoods within the capital. What, according to experts, caused the price to rise

"The blurry economic situation in Iraq has made many Iraqis tend to transfer their money in the form of assets by purchasing real estate, because they fear the future," says economist Salam Sumaisem

"The middle classes have tended to buy real estate, which led to a rise in prices as a result of increased demand," says Sumaisem

The continuation of internal migration towards the capital is another factor in the rise in real estate prices, especially since the areas of the peripheries that citizens leave suffer from service problems, unemployment and the spread of armed groups that control the elements of life in them

Economic specialist Bassem Jamil identifies the reasons for the rise in real estate prices, which are: “the population increase witnessed in the capital, Baghdad, immigration from some provinces, and the guarantee of investment in real estate

Jamil expects that "the real estate market will witness continuous activity, especially in light of the lack of value of the national currency

Of the staff loans

Ahmed al-Shammari, owner of a real estate services office in Baghdad, said, according to the report, that “for months there has been an increasing demand for real estate in Baghdad, especially in Al-Karkh,” indicating that “customers from the southern governorates, and they went to the capital because of job opportunities

Al-Shammari added, "There are state officers and employees who buy real estate at huge prices in high-end areas of Baghdad, such as Yarmouk, Al-Mansour, and Al-Harithiya in Al-Karkh and Al-Jadriya in Al-Rusafa, which led to the rise in prices

Al-Shammari indicates that there are other reasons that raised prices, including those related to loans and advances provided by government and private banks to buy real estate or to build, which helped the middle classes and formed a demand in the market

Iraqi government banks, including the Rasheed and Rafidain Banks, as well as the Iraqi Housing Fund, have launched a series of loans to citizens for housing construction over the past few days, ranging between 30 and 75 million dinars (from 20 thousand to 51 thousand dollars) to build houses ranging in size between 50 and 100 meters Square

The Central Bank of Iraq has also launched loans to build homes and buy housing units in investment complexes that are being built in the capital, with amounts ranging from 50 million Iraqi dinars to 125 million (from 34 thousand dollars to 86 thousand)

Price variation

The report notes that since 2014, the capital, Baghdad, has witnessed the construction of housing complexes containing more than 60,000 housing units, a large part of which has not been sold due to the high prices. This prompted the government to instruct banks to provide loans to those wishing to buy

According to the real estate stock exchange in Baghdad, prices vary from one region to another, depending on the assessment of its services and its location. The price per square meter in the Jadriya area in Rusafa near the Green Zone is about five thousand dollars, while the price per square meter in the Qadisiyah area, which separates the Tigris River from the first, is about $ 2,500

The prices increase the closer it is to the Yarmouk, Harithiya and Mansour areas in Al-Karkh

The price per square meter ranges in the areas south of Baghdad and west of Karkh between 800 and 1800 dollars

With the exception of the areas of Zayouna, Karrada and Palestine, where the price per square meter reaches three thousand dollars, the price per square meter in Rusafa does not exceed $ 1,200 due to the service, social and security problems it suffers from

link

[screwball]

10 hours ago, GreedyDinar07 said:

Bolten is the "Former US National Security Advisor" but if there is any truth to what he is saying that Iran is more in control in Iraq than it has been in the past, then we will never see a RV. If this is the case we have lost the war, money and lives just to hand the Country over to Iran who Sadaam has fought against for years. If Iran is still controlling Iraq then Khademi is a fraud and we all have been played. Didn't some advisor just take a trip to Iran?

This is terrible news but sometimes the truth aint pretty! Damn! I wish I would have never invested in this BS!!!!!!!!!!!!!!!!!!!!!!

Iran is not in charge of Iraq not any more the moment did a drone on the general in charge of republican guard seen the end of that 

[screwball]

10 hours ago, GreedyDinar07 said:

Damn! I wish I would have never invested in this BS!!!!!!!!!!!!!!!!!!!!!!

Name appropriate sell muppet duck and tired of reading these re runs 

[DinarThug]

LINK

The Kurdistan Patriotic: The Kurdish delegation proposed all solutions to Baghdad

 

5th February, 2021

A member of the Patriotic Union of Kurdistan, Rebwar Taha, said on Friday that the negotiating Kurdish delegation proposed all solutions to Baghdad, while he indicated that the Kurds are waiting for what the federal government will decide regarding the region's budget, and opinions may change at any moment according to interests.

In a televised interview, Taha said, "The Kurdish delegation presented its solutions regarding the 2021 budget, and all Kurdish rights cannot be waived."

He added, "We are waiting for the political forces in Baghdad to fix Kurdistan’s share in the budget and according to the population ratios, and we hope that justice will be achieved."

Taha pointed out that "the delegation continues to make efforts to converge views," noting that "opinions may change at any moment according to the interests of the political forces." 

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The Kurdistan Patriotic: The Kurdish delegation proposed all solutions to Baghdad     LINK