The reality of the market exceeded the rate of devaluation

[yota691]

The reality of the market exceeded the rate of devaluation

Sunday 18 July 2021 241

 

 Baghdad: Hussein Thaghb 

The reality of the local market has become bearing significant negative effects on the family’s economy after the prices of market supplies rose to great levels, as the rise came in rates that far exceeded the rate of devaluation of the currency, which some adopt as an excuse to raise prices, and between the inflamed market prices and the decision to cut, confusion rises in the face of a large segment of Iraqi families. 

 

The economic expert, Basem Jamil Antoine, said: "The observer of the reality of the local market indicates a defect in most joints of the market, and there is a decline in demand that affected all market supplies, which came as a result of the decision to reduce the value of the national currency by a percentage that affected the reality of the market." 

Antoine pointed out that "many important resources have increased their prices to levels exceeding 50% from the previous one, due to some people exploiting this decision and adopting it as an excuse to raise prices by large percentages, especially since the decision to devalue the currency was by 22%, which indicates the existence of a defect in the reality of the market." ".

 

hard working

He pointed out that "the rise in prices without treatment leads to the expansion of the base of families living below the poverty line due to their low income, which requires serious work to increase the social protection network subsidies and the poor segments, as well as attention to the ration card items and its quality," explaining that "the high prices Local market offerings lead to poor families abandoning many of the necessities required by daily life.

 

radical treatments

Antoine stressed that "the reality of the situation requires radical treatments and benefiting from global experiences, as well as working seriously to pay attention to the fragile levels in society and transfer them to a better level."

Noting that "such a decision requires that it be at regular intervals and in certain proportions, and each period is studied by specialized committees to mitigate the impact on the local market, which must adhere to a balanced import policy that maintains prices within acceptable rates, and supports the local product."

 

Double prices 

In turn, a member of the National Business Council Ahmed Al-Rikabi said that "the reality of local prices is affecting the income of Iraqi families and the rise in prices in many of its joints can be described as abnormal, as the tracker of the reality of prices indicates the presence of some materials whose prices have doubled, which requires the intervention of the relevant authorities to address The matter and the presentation of all materials at prices commensurate with the rate of devaluation of the national currency."

He stressed that "some materials that were banned from being imported by the Ministry of Agriculture are offered in the market at double their previous price, and this requires a pause from the authorities." 

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An expert assesses the economic situation in Iraq and identifies the most affected group

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{Economic: Al Furat News} An economist evaluated the economic situation in Iraq.
Bassem Jamil Antoine told {Euphrates News} that "the rise in oil prices contributed significantly to increasing Iraq's revenues, and all it needs is good management and spending in rewarding places to revitalize the investment, productivity and industrial sector and create job opportunities for the unemployed."

And he stated, "The current situation does not bode well despite the reforms included in the white paper, but we are trying to help the poor whose average income is between 400,000 and 500,000 dinars per month. He is the most affected as he aspires to improve medical services and the standard of living, and this is a fundamental issue."

Antoine stressed, "We need five-year plans that are managed correctly, and that the quotas that cause money wasted as a result end."

Over the past 18 years, the Iraqi economy has suffered damage to all its joints, causing a decline in the sectors of agriculture, industry and trade, and the country has become dependent mainly on oil revenues.

Iraq is suffering from a stifling financial crisis due to the decline in oil revenues due to the outbreak of the Corona virus.

Iraq, the second largest producer of crude in the Organization of Petroleum Exporting Countries after Saudi Arabia, depends on crude to provide more than 92 percent of its revenues.

  

 

[shixjr]

8 hours ago, yota691 said:

Iraq is suffering from a stifling financial crisis due to the decline in oil revenues due to the outbreak of the Corona virus.

Iraq was suffering long before the virus was ever named, due to corruption and theft.  Isn't it convenient that they now have a virus to attribute it to?  See how it works?  Lie, cheat and steal and then create a "crisis" to blame it on!

[yota691]

An economist identifies several things for the success of attracting investment in Iraq

•  Time: 08/20/2021 22:41:57
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•  Reading: 910 times

  

{Economic: Al Furat News} An economist identified several issues for the success of attracting investment in Iraq.

Basem Jamil Antoine told {Euphrates News}: "In order to receive investment, a good legal environment must be provided and red tape and bureaucracy be rid of."

He pointed to "providing the security factor in the main, as well as providing awareness, culture and investment creation."

And Antoine stated, "The investment is transferred to the countries, as well as the vessels that go to the appropriate attractive environment."

Raghad Daham