A Deputy Reveals The Loss Of 35 Trillion Dinars And Determines The Extent Of Smuggling, 8 dec

 A Deputy Reveals The Loss Of 35 Trillion Dinars And Determines The Extent Of Smuggling

Special Sumeria  2023-12-07 | Source: Alsumaria News  1,377 views  Today, Thursday, a member of the Parliamentary Finance Committee, MP Muhammad Al-Nouri, revealed the loss of 35 trillion Iraqi dinars in print, while noting that the volume of smuggling reached 60-70% and cannot be controlled

Al-Nouri said during his speech to the program (Openly), broadcast by Al-Sumaria satellite channel, that “more than 35 trillion printed Iraqi dinars do not exist inside Iraq, knowing that there are only two neighboring countries that deal with Iraq in dinars, and more than 3 months ago, 4 trillion Iraqi dinars were entered from the category of Iraqi dinars.” The (50),” pointing out that “Finance and the Central Bank raised the issue of bonds to control the issue of the Iraqi dinar, and they only collected one trillion.”

He added, “The control of the parties and the existing quotas within the financial system is what established the failure of the Iraqi economy, and there is no country so far that relies on paper accounts, and there are no final accounts in banks, no electronic automation, and more than 73 private banks except Iraq,” noting that “the system "The financial system must be independent in order to achieve economic balance within the country."

He continued, “Government banks are shackled by the Ministry of Finance and the Prime Minister,” noting that “the Central Bank is a failure and does not aim for real management, and the control of some parties over its decisions affected the price of the dollar, and its biggest mistake was pricing the dollar in the budget at 132 thousand compared to 100 dollars because Iraq lost more than 9 trillion, and the difference between it and the market became high.”

Al-Nouri noted that “the American Federal Reserve is responsible for monetary policy in Iraq and does not give money except with American approval, and whoever imagines that Iraq is in economic control is dreaming.”

He pointed out that "Iraq has become a source of narcotic drugs under the framework government, and the volume of smuggling has reached 60-70%, and more than 20 outlets in northern Iraq are not controlled, and the import of (cigarettes, gold, mobile phones, and alcohol) does not benefit Iraq because of this matter," indicating that " The volume of dollars actually sold inside Iraq does not cover the country’s needs due to smuggling, and these operations must be limited by controlling open ports and some ports controlled by parties.”

He pointed out that "the loss of the Iraqi dinar caused a lot of damage and as a result many small projects and construction advances stopped," stressing that "the Iraqi economy is completely linked to the United States and we were receiving 3 payments of the dollar now only one, and the US Federal Reserve sanctions caused an explosion in the exchange rate." He deals with us according to the missiles that fall on the  Ain al-Assad base and the embassy.”

Al-Nouri continued, "The government has no solutions and no bold decision to manage the crisis. The Central Bank must open the horizon to the rest of the banks and merchants and deal with the countries from which Iraq imports their currency, such as Iran, Turkey, China and others, and move away from absolute dependence on the dollar."

Regarding the government electronic transformation, a member of the Finance Committee confirmed that “the government does not have a database through which it can transform to the electronic system,” explaining that it “failed to control the ports because they are outside the borders of the state and under the control of some neighboring countries and armed factions.”  LINK