Economist: The high l growth rate of inflation in Iraq.. and warns

[6ly410]

Rising prices break the back of the poor in #العراق details in this news report from #السومرية http:// alsumaria.tv

[6ly410]

Economist: High annual growth rate of inflation in Iraq.. and warns

• Time: 01/12/2023 10:27:40
•  
• Read: 962 times

  

{Economic: Al Furat News} An economist said that the annual growth rate in inflation in Iraq increased by 5.6% compared to last year.

Manar Al-Obeidi said in a statement, of which {Euphrates News} received a copy, "The annual inflation rates differed in the various countries neighboring Iraq, as they rose by very large rates in Turkey, Lebanon, Syria and Iran, while the Gulf countries and Jordan almost maintained moderate rates of growth in inflation rates."
He added, "The impact of the dinar's decline against the dollar on the inflation rate is still unclear for several reasons, including the time period required for its impact to be clear, and also the amount of the impact of changing the exchange rate on annual inflation rates."
And it is likely that "the fluctuating changes in the price of the dinar against the dollar will lead to an economic recession that will lead to a significant reduction in the high rates of inflation."
Al-Obaidi added, "But it is certain that the exchange rates will remain high for a long time, which will certainly lead to a rise in inflation rates during this year in Iraq. The approval of the budget and the release of funds may lead to a rapid increase in inflation rates during the coming months, especially with the possibility of increasing demand for some basic materials in return for Lack of supply resulting from merchants' reluctance to import various goods as a result of exchange rate fluctuations, as well as financial transfer procedures.
He called on "the oversight authorities in the Ministry of Planning to monitor inflation rates periodically and quickly and provide solutions, including work to support food products and expand work in the ration card for a specific period until stability returns to the exchange rate."
Al-Obeidi also called for "working to simplify import procedures by canceling many of the basic joints and extra links in the import process, in addition to clearing the customs and tax for a certain period until stability returns to the exchange rate to reduce the vulnerability of inflation rates to the depreciation of the dinar against the dollar."

https://alforatnews.iq/news/خبير-اقتصادي-ارتفاع-نسبة-النمو-السنوية-للتضخم-في-العراق-ويحذر

[screwball]

6 hours ago, 6ly410 said:

He called on "the supervisory authorities in the Ministry of Planning to monitor inflation rates periodically and quickly and provide solutions, including working to support system">support food products and expanding the work of the ration card for a specific period until stability returns to the exchange rate."
Al-Obaidi also called for "working to simplify import procedures by canceling many of the basic joints and excess links in the import process, in addition to zeroing customs and taxes for a certain period until stability returns to the exchange rate to reduce the impact of inflation rates on the devaluation of the dinar against the dollar."

all pre RV statements and actions needed to happen post RV to lesson shocks....

Edited January 12, 2023 by screwball