yota691 Posted February 8, 2023 Report Share Posted February 8, 2023 An expert comments on the new exchange rate: Iraq is the biggest loser 2023.02.07 - 19:47 Baghdad - people Professor of Economics at the University of Basra, Nabil Al-Marsoumi, commented, on Tuesday, regarding the decision to reduce the exchange rate of the dollar. Al-Marsoumi said in a post followed by “Nass” (February 7, 2023), “The exchange of roles .. In 2021, the owner of the dinar lost and the owner of the dollar won, and in 2023 the owner of the dinar won and the owner of the dollar lost, and in both, oil was the engine of change.” He added, "On Monday, Iraq was the biggest loser." And the Cabinet approved, earlier, the decision to adjust the exchange rate of the dollar by the equivalent of 1,300 dinars. The media office of the Prime Minister said in a statement, which "NAS" received a copy of, (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar." 3 1 3 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted February 8, 2023 Report Share Posted February 8, 2023 POSTED ON 2023-02-08 BY SOTALIRAQ Lowering the price of the dollar in Iraq. End to the crisis or deepen it? Economists answer Voice of Iraq | Lowering the price of the dollar in Iraq. End to the crisis or deepen it? Economists answer (sotaliraq.com) 2023-02-08 Following the approval of the Iraqi Council of Ministers on the study presented by the Central Bank to reduce the prices of the US dollar against the dinar, the parallel market witnessed a significant decline in the exchange rate to reach 145 thousand dinars against 100 dollars, after reaching more than 170 thousand dinars earlier. The central bank set a price of 1300,1310 Iraqi dinars to buy dollars from the Ministry of Finance, 1320,<> dinars to sell to banks through the "electronic platform", and <>,<> dinars to sell to the final beneficiary. Economists and financial experts differed among themselves in terms of the effectiveness of the recent government measures, which were represented in reducing the exchange rate of the dinar in the state budget, some considered it a step in the right direction, while others considered this measure "dangerous and confused" in decisions. Budget deficit through a dangerous political decision to gain people's satisfaction Economist Nabil al-Marsoumi said, "The recent measure taken by the government to improve the Iraqi dinar against the dollar is part of a strategy to confront inflation and then the decline in the prices of imported goods, but it is considered a dangerous measure at the same time because there are direct costs that will be paid in exchange for improving the exchange rate of the national currency." "One of the factors that will reflect negatively is the reduction of government revenues denominated in Iraqi dinars, meaning direct costs, which will be about 15 trillion dinars annually added to the deficit, which will be financed by borrowing and external, so indebtedness increases," he said. "The decision would also affect foreign trade and exports, create a problem in the conflict of financial positions and affect the nature of investment, and prices are difficult to fall when they rise," he said. "This measure was taken for reasons not economic but political, and it is consistent with the state's rentier method of gaining people's satisfaction," he said. Electoral game. Profits are in the pockets of the corrupt For his part, economist Ahmed Al-Hathal said in an interview that "the approval of the exchange rate 1300 by the Council of Ministers is the end of the electoral game at the expense of monetary and reserve policy." He added that "the crisis of credits and transfers will remain until the completion of the platform and the regulation of the exchange market, but the price will decrease from the point of view of the citizen only," but "from an economic point of view, the difference between the two prices ranges by 10% and may stabilize at 145-150, and the difference still goes to the pockets of the corrupt because of the bills." Al-Hathal stresses that "the government will not be able to solve the issue of bills, they have deluded the citizen at the expense of the budget deficit," noting that "the financial illusion in monetary policy, we are waiting for the financial illusion in fiscal policy through the explosive deficit." The decision is Iraqi. And smuggling will stop For his part, economist Haider Al-Moussawi confirmed in two conversations, "The decision to return the exchange rate and reduce it to 130 thousand dinars against 100 dollars is the decision of the bank's management after consulting from financial and economic bodies concerned with the subject, and the Parliamentary Finance Committee is the one who laid the foundations of this issue, and therefore the decision will proceed with the approval of all political forces." He added that "doubting that the budget will face a deficit as a result is incorrect, because Iraq has a strong budget and has a good financial surplus, and these budgets can establish investment projects and gradually abandon dependence on oil as the only revenue for the budget." He added that "what was raised recently that the price of 130 thousand dinars for $ 100 will benefit smugglers to get dollars at cheaper prices is inaccurate because smuggling operations are not carried out with bags as imagined by some, but through invoices that are smuggled to several countries, and therefore the establishment of the electronic platform prevented smuggling permanently abroad," adding that "Iraq's needs of imports do not exceed in any case for $ 150 million per day." Al-Musawi confirms that "the decision was taken during the bank's meeting with the US Treasury in Turkey, and an Iraqi delegation headed by the Iraqi Foreign Minister has left today to Washington to meet with the US Federal Bank to discuss the issue of the dollar." He pointed out that "what was determined from the price of 130 thousand dinars against $ 100 is an acceptable price according to the economic vision, and what happened previously from the rise in the parallel market is due to speculators who monopolized the market," expecting that "rises slightly from the specified ceiling, and therefore will not affect normal prices." A brief statement by the Information Office of the Council of Ministers on Tuesday said that the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to amend the exchange rate of the dollar against the dinar by the equivalent of 1300 dinars to the dollar. Last month, Prime Minister Mohamed Shia al-Sudani relieved Central Bank Governor Mustafa Ghaleb Makhif of his post at his request and later decided to assign Ali Mohsen al-Alaq to carry out his duties. The exchange rate of the dollar against the Iraqi dinar in the parallel market reached more than 170 thousand dinars against 100 dollars at a time when the government was unable to stop this deterioration in the value of the dinar, after withdrawals of dollars from the markets significantly to smuggle them abroad. 1 6 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted February 8, 2023 Report Share Posted February 8, 2023 The Snake and the Ladder". Specialists warn of the Iraqi government's decision to raise the value of the dinar Alhurra - Washington 08 February 2023 كردستان العراق يستأنف تصدير النفط عبر تركيا بعد تعليقه بسبب الزلزال (alhurra.com) Dollar prices in the local Iraqi market fell hours after the Iraqi government decided to reduce the price of the US currency against the Iraqi dinar from 1450 dinars to 1300. According to the decision, the Central Bank of Iraq will sell dollars at the new official rates to buyers. The bank said in a statement that it will start selling at the new price starting from Wednesday, the eighth of February. The bank set a price of 1300,1310 dinars to buy dollars from the Ministry of Finance, 1320,<> dinars to sell to banks through the "electronic platform", and <>,<> dinars to sell it to the "ultimate beneficiary". But the price of the dollar in the parallel Iraqi market remained at the threshold of $ 1400,1550 for purchase, and $ <>,<> for sale until the closing time of the market on Tuesday afternoon, according to the owner of an exchange company who spoke to Alhurra. In recent days, the dollar touched the edge of 1700,<> dinars to the dollar after the imposition of compliance measures that restricted bank transfers to Iraq. The instability of the exchange rate of the Iraqi dinar against the dollar. Archival Reasons for the decision The financial adviser to the Iraqi Prime Minister, Mazhar Muhammad Saleh, says that the reduction of the Iraqi dinar to 1450 against the dollar did not "achieve its goals in development," adding to Alhurra that the decision came "after harsh years of monetary adjustment in which the Central Bank has provided since 2020 all monetary means to support public finances without the fiscal policy itself showing any financial adjustment in maximizing non-oil revenues or reducing the area of unemployment with two decimal ranks or high levels of poverty from During public spending, public finances even resorted to maximizing domestic borrowing, bringing the total domestic debt to about fifty billion dollars, which the central bank compensated by reducing public debt." Saleh added that the decision is a pattern of "tightening monetary policy patterns to fight inflation and combat inflationary activities generated by incomplete markets". According to Saleh, the inflation of foreign reserves at the Central Bank to reach $ 115 billion, enabled the bank to intervene with an important policy package, foremost of which is to address the function of inflationary expectations that the parallel exchange market has generated. "The decision to adjust the exchange rate of the Iraqi dinar against the dollar was also commensurate with the current positive rise in the value of the current account of the Iraqi balance of payments relative to GDP, which prompted monetary policy to adjust the course of the exchange rate, raise the external value of the Iraqi dinar and curb inflationary pressures," he said. The Iraqi dinar lost 25 percent of its value during recent market volatility The snake and the ladder Dr. Imad Abdel Latif Salem, a professor of economics at Al-Mustansiriya University, said, "Numbers are not used in economics, as they are used in the game of "snake and peace." Salem added to the site "Alhurra" that the government of Mr. Al-Kazemi made one dollar equivalent to 1460 dinars, and the government of Mr. Sudanese came and made one dollar equivalent to 1300 dinars, and no one told us why 1460 at the time, and no one told us why 1300 now. Salem warned against "manipulation of the exchange rate" and said there were "serious consequences". The economics professor called for "controlling the real causes and premises of all this chaos instead of chasing the consequences and phenomena resulting from it." "If the state is not able to defend the price of 1460 dinars to the dollar, and the price of the dollar in the market becomes 1700 dinars to the dollar, how will it be able to defend the price of 1300 dinars against the dollar, and how much the difference in the market will become between the two prices," he asked. "If the previous government justified raising the exchange rate of the dollar against the dinar to the deficit in financing the salaries of employees (and retirees and social welfare) at the time, these allocations have now risen based on the government program. "Where will the current government come from so that they can bridge the deficit between the Ministry of Finance selling dollars to the central bank at 1460,1300 dinars and selling them now at <>,<> dinars?" Bloomberg Economics says Iraq is facing a scarcity of dollars, causing the dinar to weaken on the black market. "Reassessment will not solve the problem; it does not change the supply of dollars entering the market; instead, it increases Iraq's dependence on oil, especially when combined with increased government spending." Iraqi economist Bariq Shober warned that the improvement was "temporary" and pointed to falling demand as "dollar buyers are waiting to get dollars at a lower price than the central bank". He told AFP that "radical solutions" were needed, such as allowing imports only through official lines of credit or imposing stricter controls on money transfer agencies to resolve the crisis. For Iraq, adopting stricter regulatory measures means more transparency, tackling money laundering and helping to enforce international sanctions, such as those imposed on Iran and Russia. Iraq, OPEC's second-largest producer, has come under pressure from the United States to limit the flow of money to neighboring Iran, with the Federal Reserve in New York imposing stricter restrictions on dollar transactions by Iraqi commercial banks in November. These measures contributed to the shortage of dollars in Iraq, led to a decline in the dinar and fueled inflation, prompting the prime minister to replace the governor of the Central Bank, Mustafa Ghaleb Makhief. Iraq's foreign minister, along with acting central bank governor Ali al-Alaq, is due to visit Washington to discuss issues including newly implemented standards for U.S. dollar transfers, Sudani said last month in an interview with state-run al-Iraqiya TV. 3 3 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted February 8, 2023 Report Share Posted February 8, 2023 International economic adviser for "deep breath" The decision to reduce the price of the dollar to 1300 dinars is a wrong decision 1 5 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 10, 2023 Author Report Share Posted February 10, 2023 'Fears of rising prices' Expert: The import of goods decreased by 75% due to the decline in dollar sales from the bank 2023.02.09 - 22:12 Baghdad - people On Thursday, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, revealed that the import of goods decreased by 75% due to the decline in dollar sales from the Central Bank of Iraq. Al-Marsoumi said in a post followed by “NAS” (February 9, 2023), “The decline in the monthly average of the Central Bank of Iraq’s sales from $4 billion in 2022 to $2 billion last month led to a decline in commodity imports by 75%, and the withdrawal of strategic stocks for merchants.” ". He explained, "Which may later lead to a lack of commodity supply in the Iraqi markets and an increase in their prices in the near future if the import dollar crisis associated with compliance rules on the electronic platform is not resolved." Al-Marsoumi added, "Knowing that Iraq's annual imports, according to international data of the exporting countries to Iraq, amount to about $50 billion annually." Earlier, the Kurdistan Investors Union warned of the collapse of the market in the region and bankruptcy, due to the fluctuation of exchange rates. Union spokesman Mulla Yassin said in statements followed by "NAS" (February 9, 2023), "If the value of the dinar does not return to its place in the short term, thousands of people will become unemployed in the markets and lose their capital." He added, "I am now the agent of a Turkish company with branches in 80 countries, but my sales decreased by 70 percent in the past month. I sold the equivalent of $150,000 per month, but this month I sold only $30,000 because those who have dollars do not want or They are afraid to spend their dollars, those who have dinars lose and do not want to spend their money, and this will disrupt the movement of business." Mulla Yassin said: "Currently, in the Kurdistan region, about 8 billion dollars are in the hands of people, and they do not bring it to the market and do not deposit it in banks." And the Parliamentary Finance Committee called, earlier, to take into account the issue of changing the exchange rate of the dollar in the budget, while indicating that it would make a big difference because Iraq sells oil in dollars. Committee member Mustafa Al-Karawi said in a statement to the official newspaper, followed by “Nass” (February 9, 2023), that “it is necessary for the government to take into account this point regarding the difference in exchange rates,” pointing to “the need to take into account the issue of activating other sectors and non-oil imports.” And between, "Iraq sells oil in dollars, and the expenditures are in Iraqi dinars, which will make a big difference in the budget, so this must be taken into account." And he added, “The budget was supposed to be sent within the next 10 days, but after the decision to change the exchange rate, you will need more time and a review of all investment or operational budgets, so there must be an assessment of the costs in the budget before it is sent, which indicates a delay.” its approval.” Read also: After decreasing the exchange rate.. Al-Darraji warns of a “deficit” in paying salaries Professor of Economics at the University of Basra, Nabil Al-Marsoumi, spoke earlier about the consequences of what he described as the "political reduction" of the dollar's exchange rate, on approving the budget. Al-Marsoumi said in a post followed by “NAS” (February 6, 2023), that “the expected political reduction of the official exchange rate of the dollar against the dinar to 1,350 dinars per dollar will complicate the approval of the budget, confuse its vocabulary, and deepen the budget deficit, as it will keep the exchange rate of the dollar in the market.” The parallel is close to its current price, because it is a matter of supply and demand, and as we advance, the gap increases and demand increases. He added, "Therefore, the reduction will be useless to the market and the citizen, and exchange companies, brokers and speculators will benefit, and even if the dinar exchange rate rose temporarily, it will decline again." 3 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 12, 2023 Author Report Share Posted February 12, 2023 Central dollar sales increased today.. An expert determines the reason 2023.02.12 - 11:50 Baghdad - people On Sunday, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, expected the postponement of work on the electronic platform for selling the dollar. Al-Marsoumi said in a brief post, which was seen by "NAS" (February 12, 2023), that "the increase in sales today may be related to the postponement of work on the electronic platform." The Central Bank of Iraq announced the proceeds of selling the dollar through the electronic currency window on Wednesday (February 12, 2023). 1 1 1 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted February 13, 2023 Report Share Posted February 13, 2023 Nabil Al-Marsoomi to / Nina / : Three variables delay the approval of the budget Monday 13 February 2023 10:36 |EconomicalViews: 372 Nabil Al-Marsoumi to / NINA /: Three variables delay approving the budget (ninanews-com.translate.goog) Baghdad /Nina/ Economist Nabil Al-Marsoumi confirmed that there are three variables that delay the approval of the budget for the current year. Al-Marsoomi said in a statement to the Iraqi National News Agency ( 😞 “The issue of the budget and its delay has nothing to do with the fluctuation of the exchange rate, because the budget is always based on an official exchange rate determined by the Ministries of Finance and Planning." He explained: "The delay is linked to three variables, the first being the large size of the budget, especially in its operational aspect, which exceeded 260 trillion dinars and the desire to reduce it because it involves a large deficit." He added: “The second variable is the share of the Kurdistan region, which was further complicated after the decision of the Federal Court not to transfer the amounts to the region. The third variable is political pressure to adjust the dollar exchange rate in the budget from 1450 to 1350 dinars./End3 3 Quote Link to comment Share on other sites More sharing options...
screwball Posted February 14, 2023 Report Share Posted February 14, 2023 14 hours ago, 6ly410 said: Nabil Al-Marsoomi to / Nina / : Three variables delay the approval of the budget Monday 13 February 2023 10:36 |EconomicalViews: 372 Nabil Al-Marsoumi to / NINA /: Three variables delay approving the budget (ninanews-com.translate.goog) Baghdad /Nina/ Economist Nabil Al-Marsoumi confirmed that there are three variables that delay the approval of the budget for the current year. Al-Marsoomi said in a statement to the Iraqi National News Agency ( 😞 “The issue of the budget and its delay has nothing to do with the fluctuation of the exchange rate, because the budget is always based on an official exchange rate determined by the Ministries of Finance and Planning." He explained: "The delay is linked to three variables, the first being the large size of the budget, especially in its operational aspect, which exceeded 260 trillion dinars and the desire to reduce it because it involves a large deficit." He added: “The second variable is the share of the Kurdistan region, which was further complicated after the decision of the Federal Court not to transfer the amounts to the region. The third variable is political pressure to adjust the dollar exchange rate in the budget from 1450 to 1350 dinars./End3 So it’s not based on a rate but the third principle is? Let’s not forget by removing three zeros the trillions becomes billions but with some serious purchasing power.. 1 2 2 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 16, 2023 Author Report Share Posted February 16, 2023 Commodity prices are still high An expert reveals the size of the financial damage the government has borne as a result of the exchange rate cut 2023.02.16 - 09:02 Baghdad - people On Thursday, Professor of Economics at the University of Basra, Nabil Al-Marsoumi, revealed the size of the financial damage the government borne as a result of the devaluation of the exchange rate. Al-Marsoumi said in a post followed by “NAS” (February 16, 2023), that “22 trillion dinars is the amount of direct financial damage that the government borne as a result of the reduction in the exchange rate of the dollar against the dinar, which led to an increase in the internal debt, valued at the new exchange rate, from 50 to 55 billion.” Dollars and the decrease in government revenues denominated in dinars by about 15 trillion dinars in the 2023 budget. He added, "However, commodity prices did not decrease in the local market, and the gap between the official and parallel prices of the dollar against the dinar did not shrink." And the Cabinet approved, earlier, the decision to adjust the exchange rate of the dollar by the equivalent of 1,300 dinars. The media office of the Prime Minister said in a statement, which "NAS" received a copy of, (February 7, 2023), that "the Council of Ministers approved the decision of the Board of Directors of the Central Bank of Iraq to adjust the exchange rate of the dollar against the dinar, equivalent to 1,300 dinars per dollar." 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 20, 2023 Author Report Share Posted February 20, 2023 Away from the security measure.. An expert presents two "solutions" to control the price of the dollar Time: 02/19/2023 20:46:04 Read: 9,035 times {Economic: Al Furat News} The economist, Nabil Al-Marsoumi, proposed today, Sunday, two solutions to control the price of the dollar away from the security measure. Al-Marsoumi told Al-Furat News that: "Security solutions in controlling the exchange rate of the dollar widen the gap between the official and parallel rate, as it adds a risk premium and trading becomes very limited." He added, "If the government resorted to eliminating dollarization and commercial dealings in dollars and limiting it to the dinar by obliging the main importers, whose number does not exceed the fingers of one hand." And Al-Marsoumi continued, "Then they obtain two profits, the first [commercial, and from importing them at the official price] and selling the goods at the parallel price, there will be price control away from any security measure." Despite the Cabinet's approval of adjusting the exchange rate of the US dollar to be at a price of 1,300 dinars, the prices are still high, as the central Kifah Stock Exchange in Baghdad recorded 151,000 Iraqi dinars for 100 dollars this evening, while the morning prices were 149,600 Iraqi dinars for every 100 dollars. For its part, the Parliamentary Finance Committee expected the stability of the dollar exchange rate in the country during the next 3 months. From: Raghad Dahham 2 Quote Link to comment Share on other sites More sharing options...
screwball Posted February 20, 2023 Report Share Posted February 20, 2023 2 minutes ago, yota691 said: For its part, the Parliamentary Finance Committee expected the stability of the dollar exchange rate in the country during the next 3 months. There’s my time frame before April….time to relax again until next year… 1 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 20, 2023 Author Report Share Posted February 20, 2023 An economist reveals 11 differences between Kurdistan contracts and the fifth licensing round money and business Economy News-Baghdad Today, Monday, economist Nabil Al-Marsoumi explained the difference between Kurdistan contracts and the fifth licensing round. Al-Marsoumi said in a statement posted on Facebook, “The difference between Kurdistan’s contracts and the fifth licensing round lies in capturing the following: First: Both of them are of the type of production-sharing contracts or production-sharing contracts. Second: The duration of the Kurdistan contracts reaches 37 years, including the exploration period, and it continues for a period of (5) years, extendable for two years, to become (7) years. As for the stage of production and development, it was (20) years, extendable to (5) years. As for the fifth round contracts, the duration of these contracts reaches The contracts are up to 25 years for development and production contracts, and 34 years for exploration, development and production contracts. Third: The contracts included undeveloped productive and explored fields and exploration blocks. Fourth: In Kurdistan contracts, the oil rent is 10%, while it rises in the fifth round to 25%. Fifth: The oil costs in Kurdistan contracts are paid by 40%, and it rises in the fifth round to 70%, which is a very high percentage if the price of a barrel of oil reaches more than 21.5 dollars. Because foreign companies control costs, more than half of the oil revenues will be obtained by foreign companies within the cost and profit oil. This analysis supports Kurdistan obtaining only 44% of its total oil revenues in 2022, despite the fact that about 8 years have passed since the start of production in the region because foreign companies It is keen to keep costs high in order to maximize its profits. Therefore, foreign companies are also expected to account for about half of Iraq's oil revenues because of the large percentage of oil costs. Sixth: The profit oil that is paid to foreign companies in the region ranges from 20 to 30%, and in the fifth round it ranges from 9.21% to 19.99%. Seventh: The share of the government partner in most contracts of Kurdistan is 20%, while there is no share for the government partner in the fifth round. Eighth: A 30% tax was imposed on the profits of foreign companies, then it was abandoned in some contracts in Kurdistan, while the fifth round contracts included a 35% tax on the profits of the foreign company. Ninth: The peak of production in Kurdistan contracts was not specified in the fifth round. Tenth: Most of the companies that were contracted with in the Kurdistan Region are small companies, and are not known internationally, as is the case in the fifth round, in which the six fields were transferred to the Emirati Crescent Company and the Chinese Geo-Giad Company. Eleven: Both of them are subject to international arbitration in the event that the dispute is not resolved amicably between the national and foreign parties. Views 187 Added 02/20/2023 - 12:55 PM Updated 2023/02/20 - 4:15 PM 2 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted February 22, 2023 Report Share Posted February 22, 2023 {Regulating trade} and {dealing in dinars}.. solutions proposed by specialists to reduce the dollar 2023/02/22 {Regulating Trade} and {Dealing in Dinars}.. Solutions offered by specialists to reduce the dollar »Al-Sabah Newspaper (alsabaah-iq.translate.goog) Baghdad: Shukran Al-Fatlawi The most honorable Najaf: Hussein Al-Kaabi The Central Bank of Iraq has not yet been able to reduce the difference between the official and parallel dollar exchange rate, despite its continuous control measures by pumping large amounts of dollars into the markets. Yesterday, Tuesday, the exchange rate in the local markets reached 153,000 dinars for the one hundred dollar category, at a time when the central bank continues to sell the one hundred dollar category at 130,000. The market is currently in a confused situation, especially in terms of trade, as prices have not undergone any changes despite the government's decision to reduce the exchange rate to 1,300 dinars per dollar. The economist, Dr. Nabil Al-Marsoumi, told Al-Sabah: Despite the implementation of the second package of banking reform announced by the Central Bank, and the improvement in sales for remittances and documentary credits, until they reached more than $85 million recently compared to the past days, the exchange rate of the dollar in the market has declined. The parallel price still ranges between 153-154 thousand dinars for every 100 dollars, and this gap may increase in the future. He pointed out that the most prominent solutions to address the rise in prices lie in regulating trade and severing the link between the price of goods and the parallel exchange rate, as well as limiting commercial transactions to dinars, in order to reach a kind of stability in commodity prices. Al-Marsoumi explained that the main merchant who imports at the official price is supposed to sell his goods to the individual at official prices and in dinars, but what is happening is the opposite, as the merchant focuses on making two profits, the first through commercial profit and the second through the difference between the parallel and official price. Earlier, the Central Bank decided to adjust the exchange rate of the dollar against the dinar, as it set the price of buying a dollar from the Ministry of Finance at 1,300 dinars per dollar, and selling it at (1,310) dinars per dollar to banks through the electronic platform, and selling it at (1,320) dinars per dollar. Dollars from banks and non-bank financial institutions to the final beneficiary. In turn, economist Dr. Adnan Bahia told Al-Sabah: The remittance platform is important for controlling currency transfers abroad, but it needs awareness, coordination and cooperation between the government, the central bank and the main merchants to overcome the difficult stage. And he added that when comparing real imports with remittances previously, it becomes clear that there are large differences compared to the existing imports, and this matter led to the country losing large amounts of hard currency. For his part, the head of the Economic Committee in the Najaf Chamber of Commerce, Ali Sharba, told Al-Sabah: The country depends to a large extent on imports in light of the rentier economy, so the merchant plays a major role in the life of the citizen to provide the goods and commodities he needs. He added that the financial transfer process represents the backbone of the economy, and that any delay in it causes confusion in public life, praising at the same time the new system that the government implemented for financial transfers through the platform and the Swift system that was supposed to be used previously, because it frames the transfers in the correct framework and protects them. From money laundering, smuggling and corruption. And Sherba added that despite the application of the new system and its causing confusion and delay in transfer operations, with time and the use of new mechanisms far from bureaucracy, there will be a positive change in the exchange rate and the mechanisms of commercial dealings, and the Iraqi trader will keep pace with the global system like any trader in the world. While Ali Al-Zuhairi, a wholesale trader, demanded that banks have a role in external transfer operations, adding in his interview with "Al-Sabah": The role of banks in Iraq is almost non-existent, and most of the merchants' dealings are with exchange shops, while banks are dominated by exaggerated routine work. Al-Zuhairi expressed his hope that the shift to a new system in selling dollars and money transfers would be a good sign in activating the role of banks, and facilitating the transfer of financial dues to companies from which the merchant imports, and moving away from the black market to buy currency that carries additional financial burdens. Edited by: Ali Mouafaq 1 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted February 22, 2023 Report Share Posted February 22, 2023 1 hour ago, 6ly410 said: there will be a positive change in the exchange rate and the mechanisms of commercial dealings, and the Iraqi trader will keep pace with the global system like any trader in the world. Boom💥 1 1 3 5 Quote Link to comment Share on other sites More sharing options...
screwball Posted February 22, 2023 Report Share Posted February 22, 2023 1 hour ago, 6ly410 said: The Central Bank of Iraq has not yet been able to reduce the difference between the official and parallel dollar exchange rate, despite its continuous control measures by pumping large amounts of dollars into the markets. More changes to come…? 1 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 22, 2023 Author Report Share Posted February 22, 2023 Specialists offer solutions to reduce the price of the dollar and reduce the difference between the official and parallel prices 2023.02.22 - 10:37 Baghdad - Nas The Central Bank of Iraq has not yet been able to reduce the difference between the official and parallel dollar exchange rate, despite the implementation of control measures by pumping quantities of dollars into the markets. Yesterday, Tuesday, the exchange rate in the local markets reached 153,000 dinars for the one hundred dollar category, at a time when the central bank continues to sell the one hundred dollar category at 130,000. The market is currently in a confused situation, especially in terms of trade, as prices have not undergone any changes despite the government's decision to reduce the exchange rate to 1,300 dinars per dollar. The economist, Nabil Al-Marsoumi, said that despite the implementation of the second package of banking reform announced by the Central Bank, and the improvement in sales for remittances and documentary credits, reaching more than $85 million recently compared to the past days, the exchange rate of the dollar in the parallel market still ranges between 153-154 thousand dinars per 100 dollars, and this gap may increase in the future. He pointed out that the most prominent solutions to address the rise in prices lie in regulating trade and severing the link between the price of goods and the parallel exchange rate, as well as limiting commercial transactions to dinars, in order to reach a kind of stability in commodity prices. Al-Marsoumi explained that the main merchant who imports at the official price is supposed to sell his goods to the individual at official prices and in dinars, but what is happening is the opposite, as the merchant focuses on making two profits, the first through commercial profit and the second through the difference between the parallel and official price. Earlier, the Central Bank decided to adjust the exchange rate of the dollar against the dinar, as it set the price of buying a dollar from the Ministry of Finance at 1,300 dinars per dollar, and selling it at (1,310) dinars per dollar to banks through the electronic platform, and selling it at (1,320) dinars per dollar. dollars from banks and non-bank financial institutions to the final beneficiary. In turn, economist Dr. Adnan Bahia said: The remittance platform is important to control currency transfers abroad, but it needs awareness, coordination and cooperation between the government, the central bank and the main merchants to overcome the difficult stage. And he added that when comparing real imports with remittances previously, it becomes clear that there are large differences compared to the existing imports, and this matter led to the country losing large amounts of hard currency. For his part, the head of the Economic Committee in the Najaf Chamber of Commerce, Ali Sharba, said: The country depends to a large extent on imports in light of the rentier economy, so the merchant plays a major role in the life of the citizen to provide the goods and basic commodities that he needs. He added that the financial transfer process represents the backbone of the economy, and that any delay in it causes confusion in public life, praising at the same time the new system that the government implemented for financial transfers through the platform and the Swift system that was supposed to be used previously, because it frames the transfers in the correct framework and protects them. From money laundering, smuggling and corruption. And Sherba added that despite the application of the new system and its causing confusion and delay in transfer operations, with time and the use of new mechanisms far from bureaucracy, there will be a positive change in the exchange rate and the mechanisms of commercial dealings, and the Iraqi trader will keep pace with the global system like any trader in the world. While Ali Al-Zuhairi, a wholesale trader, demanded that banks have a role in external transfer operations, adding in his speech: “The role of banks in Iraq is almost non-existent, and most of the merchants’ dealings are with exchange shops, while banks are predominantly exaggerated in their routine work.” Al-Zuhairi expressed his hope that the shift to a new system in selling dollars and money transfers would be a good sign in activating the role of banks, and facilitating the transfer of financial dues to companies from which the merchant imports, and moving away from the black market to buy currency that carries additional financial burdens. Quoted from the official newspaper 2 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted February 22, 2023 Report Share Posted February 22, 2023 An economist shows the reasons for the continued rise in the dollar exchange rate Today 19:36 Economist shows reasons for the continued rise in the dollar exchange rate | Information (almaalomah-me.translate.goog) Information/Private. Economist Abdul Rahman Al-Mashhadani determined, on Wednesday, the reasons for the continued rise in the dollar exchange rate despite the government's reduction of the central rate, while stressing that the complexities of the beneficiaries of the continuation of the crisis contributed to the survival of the crisis so far. Al-Mashhadani said in an interview with the Information Agency that "the government did not find solutions to facilitate registration procedures on the dollar sale platform," noting that "the Commercial Bank of Iraq set the condition for opening a platform for external transfer is the delivery of a deposit of 500 million Iraqi dinars.” He continued, "The Central Bank has set a condition for handing over a deposit of 250 million Iraqi dinars in order to allow access to the dollar sales platform," pointing out that "the complexities of the beneficiaries of the rise contributed to the survival of the crisis so far, in order to receive their shares at the official rate from the Central Bank and sell them at the parallel price in local markets.” Regarding finding solutions to end the dollar gap, "there is a proposal that the Central Bank adopt facilities for small traders by increasing its initiatives from 17 trillion to 18 trillion, in order to finance small traders in dollars in exchange for the financial interest determined later .” Due to the measures taken by the US Federal Reserve on Iraq, the local markets are witnessing a continued disparity in the exchange rates of the dollar between high and low despite the decision of the Council of Ministers to reduce the official dollar exchange rate to 130 thousand. per 100 US dollars. 1 Quote Link to comment Share on other sites More sharing options...
Theseus Posted February 23, 2023 Report Share Posted February 23, 2023 (edited) Reconstructed Iraq, after 2004, has been part of the SWIFT system since 2016. For example the code for the CBI is CBIRIQBA. SWIFT Iraq CSO Development Objective To support the Central Statistics Office of the Government of Iraq in collecting new information for welfare monitoring Key Details Project Details Project ID P158492 Status Closed Team Leader Dhiraj Sharma,Matthew Grant Wai-Poi,Sergio Daniel Olivieri Borrower 2 Iraq Ministry of Planning Country Iraq Approval Date (as of board presentation) August 3, 2016 Total Project Cost 1 US$ 0.40 million Implementing Agency Central Statistics Office Region Middle East and North Africa Fiscal Year 3 2017 Commitment Amount US$ 0.00 million Environmental Category N/A Last Update Date February 7, 2020 Closing Date July 31, 2018 Last Stage Reached Bank Approved Notes 1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation. 2. Borrower refers to the Borrower of a Loan or Recipient of a Grant. 3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996. SWIFT Enabled Banks List in Iraq The following are the Banks in Iraq, which has SWIFT enabled branch / branches. Select an individual Bank link to view list of cities, where the particular bank has branch / branches. If you have any problem to locate the Bank, please use search box. Some bank name may be misspelled, and may arise difficulty to find from this list. So, there is a All countries list in the menu. Some banks name may start with the word 'THE'. View carefully and find your branch. Abu Dhabi Islamic Bank SWIFT Code Al Baraka Turk Katilim Bankasi A S Erbil Branch SWIFT Code Al Nibal Al Arabya For Money Transfer SWIFT Code Al Rafidain Bank SWIFT Code Al Asswar Co For Money Transfer SWIFT Code Al Bilad Islamic Bank For Investment And Finance SWIFT Code Al Hareer Company For Money Transfer SWIFT Code Al Huda Bank SWIFT Code Al Iraqia For Money Transfer Co SWIFT Code Al Maraj Al Alamiya Company For Money Transfer SWIFT Code Al Muhej Company For Money Transfer SWIFT Code Al Nahir Al Khaled Money Transfer SWIFT Code Alnoor For Money Transfer Co Shareholding SWIFT Code Alrabita Almaliya For Money Transfer SWIFT Code Arab Banking Corporation SWIFT Code Ashur International Bank For Investment SWIFT Code Asya Katilim Bankasi A S Arbil Branch SWIFT Code Ataa Alghary For Money Transferring Company SWIFT Code Babylon Bank Company SWIFT Code Bank Audi S A L Iraq Branches SWIFT Code Bank of Baghdad SWIFT Code Bankmed Sal Iraq SWIFT Code Banque Libano Franaise Sal Iraq SWIFT Code Basrah International Bank For Investment SWIFT Code Bbac Sal Erbil Branch SWIFT Code Blom Bank S A L SWIFT Code Byblos Bank Sal Iraq SWIFT Code Central Bank of Iraq SWIFT Code Cihan Bank For Islamic Investment And Finance SWIFT Code Commercial Bank of Iraq S A SWIFT Code Credit Bank of Iraq SWIFT Code Credit Libanais Sal SWIFT Code Dar Es Salaam Investment Bank SWIFT Code Dijlah And Furat Bank SWIFT Code Economy Bank SWIFT Code Economy Bank For Investment And Finance SWIFT Code Elaf Islamic Bank SWIFT Code Erbil Bank For Investment And Finance SWIFT Code Fransabank Sal Iraq Branch SWIFT Code Gulf Commercial Bank SWIFT Code Ibl Bank Sal SWIFT Code Industrial Bank The SWIFT Code International Development Bank For Investment And Finance SWIFT Code Investment Bank of Iraq SWIFT Code Iraqi Islamic Bank For Investment And Development SWIFT Code Iraqi Middle East Investment Bank SWIFT Code Iraqna Money Transfer SWIFT Code Karmal Stock Exchange SWIFT Code Kurdistan International Bank SWIFT Code Mansour Bank For Investment SWIFT Code Mosul Bank SWIFT Code National Bank of Iraq SWIFT Code National Islamic Bank SWIFT Code Nobles For Money Transfer Co Share Holding SWIFT Code North Bank SWIFT Code Rabee Securities SWIFT Code Rasheed Bank SWIFT Code Real Estate Bank The SWIFT Code Region Trade Bank For Investment And Finance Formerly Emerald Bank SWIFT Code Standard Chartered Bank Iraq Branch SWIFT Code Sumer Commercial Bank SWIFT Code Trade Bank of Iraq SWIFT Code Trans Iraq Bank SWIFT Code Turkiye Cumhuriyeti Ziraat Bankasi A S SWIFT Code Turkiye Is Bankasi A S All Iraq Branches SWIFT Code Turkiye Vakiflar Bankasi Erbil Branch SWIFT Code Union Bank of Iraq SWIFT Code United Bank For Investment SWIFT Code United Company For Financial Transfer SWIFT Code Warka Bank For Investment And Finance SWIFT Code Blom Bank S A L Iraq SWIFT Code Islamic Regional Cooperation Bank For Development And Investment S A SWIFT Code Swift Codes in Iraq SWIFT code contains eight(8) to eleven(11) characters. Primary office SWIFT codes contain eight(8) characters. Branch office SWIFT codes contain eleven(11) characters. The above list is the currently available data of SWIFT / BIC list in Iraq. Edited February 23, 2023 by Theseus 3 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 23, 2023 Author Report Share Posted February 23, 2023 {Regulating trade} and {dealing in dinars}.. solutions proposed by specialists to reduce the dollar Economical 2023/02/22 Baghdad: Shukran Al-Fatlawi The most honorable Najaf: Hussein Al-Kaabi The Central Bank of Iraq has not yet been able to reduce the difference between the official and parallel dollar exchange rate, despite its continuous control measures by pumping large amounts of dollars into the markets. Yesterday, Tuesday, the exchange rate in the local markets reached 153,000 dinars for the one hundred dollar category, at a time when the central bank continues to sell the one hundred dollar category at 130,000. The market is currently in a confused situation, especially in terms of trade, as prices have not undergone any changes despite the government's decision to reduce the exchange rate to 1,300 dinars per dollar. The economist, Dr. Nabil Al-Marsoumi, told Al-Sabah: Despite the implementation of the second package of banking reform announced by the Central Bank, and the improvement in sales for remittances and documentary credits, until they reached more than $85 million recently compared to the past days, the exchange rate of the dollar in the market has declined. The parallel price still ranges between 153-154 thousand dinars for every 100 dollars, and this gap may increase in the future. He pointed out that the most prominent solutions to address the rise in prices lie in regulating trade and severing the link between the price of goods and the parallel exchange rate, as well as limiting commercial transactions to dinars, in order to reach a kind of stability in commodity prices. Al-Marsoumi explained that the main merchant who imports at the official price is supposed to sell his goods to the individual at official prices and in dinars, but what is happening is the opposite, as the merchant focuses on making two profits, the first through commercial profit and the second through the difference between the parallel and official price. Earlier, the Central Bank decided to adjust the exchange rate of the dollar against the dinar, as it set the price of buying a dollar from the Ministry of Finance at 1,300 dinars per dollar, and selling it at (1,310) dinars per dollar to banks through the electronic platform, and selling it at (1,320) dinars per dollar. Dollars from banks and non-bank financial institutions to the final beneficiary. In turn, economist Dr. Adnan Bahia told Al-Sabah: The remittance platform is important for controlling currency transfers abroad, but it needs awareness, coordination and cooperation between the government, the central bank and the main merchants to overcome the difficult stage. And he added that when comparing real imports with remittances previously, it becomes clear that there are large differences compared to the existing imports, and this matter led to the country losing large amounts of hard currency. For his part, the head of the Economic Committee in the Najaf Chamber of Commerce, Ali Sharba, told Al-Sabah: The country depends to a large extent on imports in light of the rentier economy, so the merchant plays a major role in the life of the citizen to provide the goods and commodities he needs. He added that the financial transfer process represents the backbone of the economy, and that any delay in it causes confusion in public life, praising at the same time the new system that the government implemented for financial transfers through the platform and the Swift system that was supposed to be used previously, because it frames the transfers in the correct framework and protects them. From money laundering, smuggling and corruption. And Sherba added that despite the application of the new system and its causing confusion and delay in transfer operations, with time and the use of new mechanisms far from bureaucracy, there will be a positive change in the exchange rate and the mechanisms of commercial dealings, and the Iraqi trader will keep pace with the global system like any trader in the world. While Ali Al-Zuhairi, a wholesale trader, demanded that banks have a role in external transfer operations, adding in his interview with "Al-Sabah": The role of banks in Iraq is almost non-existent, and most of the merchants' dealings are with exchange shops, while banks are dominated by exaggerated routine work. Al-Zuhairi expressed his hope that the shift to a new system in selling dollars and money transfers would be a good sign in activating the role of banks, and facilitating the transfer of financial dues to companies from which the merchant imports, and moving away from the black market to buy currency that carries additional financial burdens. Edited by: Ali Mouafaq 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 23, 2023 Author Report Share Posted February 23, 2023 Expert: Liberating Iraq from the US dollar is impossible for a major reason, and the yuan will not change anything 2023.02.23 - 09:52 Baghdad - people Nabil Al-Marsoumi, professor of economics at the University of Basra, commented Thursday on the central bank's decision to deal in trade exchanges with China in Chinese yuan instead of dollars. Al-Marsoumi said in a post followed by “NAS” (February 23, 2023), that “the Central Bank announced that the organization of financing foreign trade with China will be directly and in the Chinese yuan currency, and although Iraq began diversifying its cash reserves five years ago, the dollar prevails due to the fact that oil revenues In dollars and has only a few Chinese yuan, as Iraq is trying today to restore the value of the dinar through a strategy that is now being pursued by other official banks in the Middle East. He added, "The strategy includes relying on the Chinese yuan currency for the purpose of trade exchange with China, in addition to the European euro, the UAE dirham and the Jordanian dinar, as the Iraqi authorities seek to provide other foreign currencies for local dealings besides the US dollar, and it is known that many countries have begun to take the same steps that It is being carried out by the Central Bank of Iraq and others have already begun to implement it, as Saudi Arabia issued a decision that includes obtaining the Chinese yuan instead of the dollar in exchange for oil sold to China, while Egypt decided to replace the guarantee bonds with the yuan currency instead of the dollar before Israel followed suit, which also announced the use of the Chinese yuan Next to the Canadian and Australian dollars as a direct alternative to the US dollar. He said: "As long as oil is priced in dollars and as long as oil exports dominate Iraqi exports in light of the almost complete disappearance of non-oil exports, it becomes impossible for Iraq to liberate itself from the US dollar, as Iraq needs the dollar in the end to obtain the yuan. Therefore, Iraq's dependence on the yuan To finance its foreign trade with China through the American JPMorgan Bank and the Development Bank in Singapore, nothing will change and it will remain captive to the dollar. 4 Quote Link to comment Share on other sites More sharing options...
yota691 Posted February 24, 2023 Author Report Share Posted February 24, 2023 'lack of real economic process' Expert: 4 negatives of expanding those covered by social protection salaries 2023.02.24 - 11:35 Baghdad - Nas The expert and professor of economics at the University of Basra, Nabil Al-Marsoumi, indicated, on Friday, that expanding the base of those covered by social protection salaries is a policy that is humanely acceptable and effective, but it has some negatives. Al-Marsoumi said in a post entitled “Social Protection Salaries between Merit and Luxury,” followed by “NAS” (February 24, 2023), that “the Ministry of Labor seeks to expand the base of those covered by social protection salaries from 1.5 million to 2.5 million people for the purpose of addressing the high poverty rate in Iraq, which reaches 25% of the population. He added, "It is a humane policy that is acceptable and effective, but it has some negatives, including: First: It indicates the absence of a real economic process in Iraq that produces goods and provides job opportunities. Second: Paying attention to the distributive aspect of oil revenues instead of investing them in developing and diversifying the Iraqi economy to provide job opportunities. Third: Adding permanent burdens to a public budget funded primarily from unstable oil revenues that may later lead to the government not fulfilling its obligations towards those covered by social protection salaries if the oil price falls below $60 per barrel. Fourth: Encouraging Iraqis not to care about work and rely on cash subsidies, noting that not a small part does not deserve such subsidies, and the evidence for this is the Ministry of Labor's refusal of the applications of more than 900,000 people who are not eligible to obtain these subsidies. 1 Quote Link to comment Share on other sites More sharing options...
screwball Posted February 25, 2023 Report Share Posted February 25, 2023 On 2/23/2023 at 4:18 AM, 6ly410 said: The Central Bank has set a condition for handing over a deposit of 250 million Iraqi dinars in order to allow access to the dollar sales platform," pointing out that "the complexities of the beneficiaries of t 1 Quote Link to comment Share on other sites More sharing options...
6ly410 Posted March 4, 2023 Report Share Posted March 4, 2023 Nabil Al-Marsoumi for / Nina /: Exchange rate stability. The ability of the government to limit internal dealings to the national currency Saturday 04, March 2023 20:05 |EconomicalViews: 101 Nabil Al-Marsoumi for / Nina / : Exchange rate stability. The ability of the government to limit internal dealings to the national currency (ninanews-com.translate.goog) Baghdad /NinaEconomist Nabil Al-Marsoomi confirmed that the stability of the exchange rate. The government's ability to eliminate dollarization and limit internal dealings with the national currency. He told the Iraqi National News Agency ( 😞 The reason for the discrepancy between the official exchange rate and the parallel rate is because the amounts allocated for transfers and documentary credits are still low compared to cash sales. He added that a large part of traders resort to the local exchange market to obtain dollars to finance their imports from abroad, even if it is the so-called black trade transfers in the sense of smuggling dollars abroad to pay the dues of traders. He expects the matter to continue unless banks and merchants increase their demand to comply with the new electronic platform, although there is slow compliance and development. He explained: The gap between the two prices is likely to continue at least during a period of weeks and the next few months, as long as there are cash sales, meaning there is smuggling of dollars, so there is a large gap between the official price and parallel prices. Al-Marsoumi pointed out: Bridging this gap is the extent of the government's ability to eliminate dollarization and its ability to limit internal dealing to the national currency instead of the dollar. 1 2 Quote Link to comment Share on other sites More sharing options...
yota691 Posted March 5, 2023 Author Report Share Posted March 5, 2023 An expert paints a 'bleak' scenario regarding commercial activity between Iran and Iraq 2023.03.05 - 10:56 Baghdad - people Professor of Economics at the University of Basra, Al-Marsoumi, drew a scenario he described as "affectionate", of commercial activity between Iraq and Iran. Al-Marsoumi said in a post followed by “NAS” (March 5, 2023), “Iran’s dues on Iraq, as the Prime Minister says in his interview with Al-Hadath TV, amounted to 11 billion euros, which are in Iraqi banks; they cannot be transferred to Iran because of the US sanctions against it, and if Iraq complies. Completely according to the rules and conditions of the electronic platform, and if Iraq tightens its grip on the dollar and prevents its smuggling abroad, then in this case foreign trade between Iraq and Iran will stop. He added, "Iran may run out of patience at that time and refrain from providing Iraq with gas and electricity as long as it will be unable to obtain their price in US dollars, in addition to its inability to convert the Iraqi dinars it owns into dollars!!" 1 Quote Link to comment Share on other sites More sharing options...
yota691 Posted March 14, 2023 Author Report Share Posted March 14, 2023 addressed to the representatives Expert: The government program contradicts the budget with regard to the petrodollar 2023.03.14 - 08:53 Baghdad - people The economist and university professor in Basra, Nabil Al-Marsoumi, revealed on Tuesday that there is a contradiction between the government program and the budget regarding petrodollar allocations. Al-Marsoumi said in a post entitled "Petrodollars - the government program's contradiction with the budget," followed by "NAS" (March 14, 2023), that "Paragraph 3 of the executive axis of the Sudanese government program is clear and explicit, as it provides for the return of the dues of the oil-producing governorates to 5%. of crude and refined oil production. He explained, "Which means that about 7 trillion dinars are allocated to it in the 2023 budget, but that budget has allocated only two trillion dinars to it." Al-Marsoumi added, "And the deputies of those provinces should demand the addition of about 5 trillion dinars more to the petrodollar allocations in line with the government program and with Law No. 21 of 2013 on governorates that are not organized in a region." It may be an image that contains the text '(Basnews) publishes the text of the ministerial curriculum, lifestyle, multimedia, economy A', interviews, reports, opinions, news, bas First: the executive axis 1- Reconsidering all the caretaker government's daily decisions, especially economic, security, and random, unconsidered mobilizations. 2- Supporting domestic and foreign investment to advance this vital sector and enacting the necessary laws for that. 3 Paying petro-dollar dues to the oil and gas-producing governorates, returning the share allocated to these governorates to 5% for production and refining, and making a settlement to fulfill their previous dues according to financial abundance and acceptable time periods. 2022 ite Window 用国' 2 Quote Link to comment Share on other sites More sharing options...
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