Parliamentary Finance: The price of the dollar will decrease after the implementation of the budget
7-12-2023
Parliamentary Finance - The price of the dollar will decrease after the implementation of the budgetInformation / Baghdad..
A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed, on Wednesday, that the price of the dollar will decrease against the dinar, after implementing the provisions of the federal general budget.
He added, “The exchange rate of the dollar in the parallel markets depends on the principle of supply and demand, and the start of implementing the 2023 budget will mean the release of large sums of money that will lead to a greater increase in the purchase of the dollar.”
He pointed out that “after the implementation of the budget, there will be stability in the dollar exchange market and its arrival at the official price specified by the Council of Ministers.”
A member of the Parliamentary Finance Committee, Representative Mudar Al-Karawi, confirmed, in a previous statement to Al-Malooma, that there is a road map of 4 axes to curb the parallel market for selling the dollar.
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The highest judicial authority in Iraq issues a state order regarding articles of the budget law
2023-07-12 03:18
The highest judicial authority in Iraq issues a state order regarding articles of the budget lawShafaq News/ Today, Wednesday, the Supreme Federal Court (the highest judicial authority in Iraq) issued a state order regarding some articles of the country’s tripartite financial budget law.
The state order included suspending the implementation of the following articles (Article 28 / Fourth: A – B), (57 / First – C), (65 / Second), (70 / Second), (71) and (75) of Law No. ( 13) for the year 2023 (the federal general budget of the Republic of Iraq for the fiscal years (2023 – 2024 – 2025) until a decision is made on the constitutional case filed before this court to challenge its constitutionality, registered in the number (153 / federal / 2023).
Prime Minister Muhammad Shia al-Sudani had requested the issuance of a state order against Parliament Speaker Muhammad al-Halbousi regarding the above articles, according to the statement issued by the Federal Court.
Sabhan Al-Mulla Jiyad, Advisor to the Prime Minister for Political Affairs, suggested last June that the government would challenge some of the budget articles.
And the Iraqi parliament voted, at dawn today, Monday, June 12, on the federal budget law for the years 2023, 2024, 2025, after discussions that lasted for five days.
The value of the current year budget is 197 trillion and 828 billion Iraqi dinars (about 152.2 billion dollars), with a total deficit of 63 trillion dinars (48.3 billion dollars), while the items of the 2023 and 2024 budgets have not been published.
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An economist who explains the mechanisms of supporting the Iraqi dinar and reducing the demand for the dollar
7-11-2023
An economist who explains the mechanisms of supporting the Iraqi dinar and reducing the demand for the dollarInformation / Baghdad…
Today, Tuesday, the economic expert, Safwan Qusay, explained the mechanisms of supporting the Iraqi dinar and reducing the demand for dollars in the parallel market.
He added, “The approach to this mechanism would allow Iraqi merchants to import from these countries in dinars, and this opens the way for importing foodstuffs, soft drinks, cigarettes, medicines and other commodities, especially to countries that are allowed to sell oil in dinars, such as Jordan and Egypt. In return, merchants direct to import commodities from them in dinars.”
And he indicated that “the aforementioned measures would reduce pressure on the demand for the dollar in the parallel market, as confidence must return to the dinar, in addition to that the Ministry of Finance and the Central Bank have to work jointly.”
Qusai pointed out that “some public spending measures are not commensurate with the central bank’s policy, and vice versa.”
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