Report: Al-Kazemi Government's Policies Halve The Purchasing Power

[yota691]

Report: Al-Kazemi Government's Policies Halve The Purchasing Power

 

LAST UPDATE 11/08/2021 | 11:18 AM

 

Information/Baghdad.

A press report, on Monday, highlighted the decline in the purchasing power of Iraqi citizens and its negative impact on the markets, despite the start of the new school year and the winter season, which usually witnesses a large movement of shoppers.

The newspaper, “Al-Araby Al-Jadeed”, stated in a report seen by “The Information”, that “the owners of shops in the capital, Baghdad, are complaining of stagnation in the market, especially in the automotive sector, home furniture, construction materials, luxury and clothing, as many markets seemed to be in their lowest form despite the entry of The winter season and the start of a new school season, in which Iraqis are accustomed to shopping and buying what they need for their children and homes.”

Hisham al-Hasani, one of the most prominent merchants selling clothes in Al-Shorja market in central Baghdad, said that “the political differences that Iraq witnesses after each election about forming the government sometimes and objecting to the election results at other times, are always a heavy burden on all Iraqis, as the situation remains after all. Turbulent elections and confused economically, politically and security.”

Al-Hasani added that “the Iraqi market, on these days every year, witnesses a very large buying and selling movement, especially with regard to the start of the new school year and the entry of the winter season, but unfortunately the markets seem almost empty of shoppers, although this year the education will be present in schools and universities. “.

He pointed out that "the percentage of sales this year is very weak compared to previous years," noting that the percentage of sales does not exceed 50%, pointing out that the toiling class of daily wage earners and workers in the private sector are the most affected by the deteriorating situation in Iraq.

For his part, Zaid Al-Awsi, who works in a bookstore that sells stationery, said, “The owners of stationery bookstores were very optimistic about the return of attendance education in schools and universities to dispose of their merchandise that they had accumulated two years ago, estimated at tens of millions, but the market movement until now is not at the required level and as expected. she has".

Al-Awsi added, "Everyone expected that the Ministry of Education's decision would contribute to the return of the market movement and the revival of the stationery market, which depends by 60% on primary and middle school students, but this did not appear clear despite the start of the new school year."

He continued, "Everything in the Iraqi market has risen in price under the pretext of the high exchange rate of the dollar, which touched 1,500 dinars per dollar, offset by a weakness in the purchasing power of citizens, stressing that shop owners are the most affected by the accumulation of goods they have, as well as the deteriorating security situation in Iraq, all of which led to the deterioration of the economic situation in Iraq and the decline in the movement of buying and selling in all economic fields. finished/25

[ronscarpa]

I'm not sure I understand how the "purchasing power" of the IQD has been halved - if it went from 1200 to 1460 that would only be almost a 22% reduction in purchasing power, plus any additional incremental increase in the acquisition prices of imported goods. Just curious about the statement in the article. 

[horsesoldier]

What I’m seeing here is Iraqi math is far more involved than our walnut sized pathetic infidel minds are capable of comprehending.

 

Either that or they’re talking outta their azz much in the same way Biden did to Camilla in the now infamous Fartgate incident.

 

Gives blow it out your butt a new twist.

Edited November 9, 2021 by horsesoldier

[JonnyV]

LMAO horsesoldier.   

[boosterbglee]

😂