AL-SUDANI: “MADE IN IRAQ” IS A NATIONAL PROJECT WE ARE COUNTING ON

AL-SUDANI: “MADE IN IRAQ” IS A NATIONAL PROJECT WE ARE COUNTING ON

Prime Minister Mohammed Shia al-Sudani inaugurated, on Wednesday, the Construction Cooperation Center (Construction Basket), which was implemented by the General Company for Construction Materials Trade at the Ministry of Trade, in partnership with the private sector.

During the opening ceremony, Al-Sudani emphasized that the project contributes to providing building materials at competitive prices and convenient installments to citizens, particularly targeted groups such as retirees, those covered by the social security network, martyrs’ families, and employees.

The Prime Minister praised the efforts of the Ministry of Trade and those behind the project, considering the “Made in Iraq” concept a working method for restoring prestige to national industry, given the “real revolution” the construction sector is witnessing, both through state projects and at the investment level. Al-Sudani directed a coordination workshop to be held among relevant authorities to establish a mechanism enabling citizens to obtain loans and building permits, while also securing the construction materials they need to build a home.

He pointed out that the government has adopted a cooperative approach, with public sector participation, to control commodity prices, starting with food items through the “hypermarket” project, and now in the construction sector through the “construction basket.”

He explained that the project provides construction materials in accordance with Iraqi standard specifications and supports housing projects by granting investment licenses for approximately one million housing units, in addition to initiatives by the Housing Fund and the Real Estate Bank.

He explained that sovereign guarantees for the private sector focused on industrial sectors, with facilities for investors in constructing various factories. He emphasized the continuation of work with the Federation of Industries and Contractors, and the empowerment of the private sector as a partner in meeting market needs and providing job opportunities.

Al-Sudani concluded by pointing out the need to extend this experience to other governorates, starting with Nineveh and Basra.

KERRIE ANN THORNTON:Just get ready, review your projects, get your clothes out!! #iqd #iraqidinar

 

SUDANESE ADVISOR REVEALS THE SECRET OF PRICE STABILITY: THREE EFFECTIVE GOVERNMENT TOOLS

SUDANESE ADVISOR REVEALS THE SECRET OF PRICE STABILITY: THREE EFFECTIVE GOVERNMENT TOOLS

The Prime Minister’s financial and economic advisor, Mazhar Mohammed Salih, revealed the main reasons behind price stability in Iraq despite global economic challenges.

Saleh told Al-Furat News that: “Iraq enjoys a high level of price discipline, as the government has adopted three effective tools to manage the economic and price file in a precise and harmonious manner, represented by fiscal policy, direct support for goods and services, and coordinated management between state institutions. ”

He explained that “fiscal policy, in particular, contributes to supporting prices through the general budget by a percentage exceeding 13% of the gross domestic product, which is one of the highest support rates in the world,” indicating that this “is positively reflected in the general price level and contributes to a decline in annual inflation growth rates.”

Saleh pointed out that “this support includes vital areas that affect the lives of citizens, including fuel subsidies, support for farmers, as well as other forms of support in the food and medicine basket and basic government services.”

TIDBIT FROM MARKZ: THE Dinar is on Forex and Bloomberg !!!

 MarkZ   

via PDK]  

Comment: So is it true the Dinar is on Forex and Bloomberg at this point? 

Yes still at 1310 but being up and live for the first time in 22 years would be an incredible preemptive step towards the RI and REER!  

 MarkZ:  I know there are lots of rumors out …and yes we have seen some crazy rates popping again overnight last night.   A systems test of some sort?

FIREFLY: There was a reason why the rate was protected in the Gazette for so long!! #iqd

 

THE DOLLAR IS DECLINING.” POSITIVE INDICATORS FROM THE SULAYMANIYAH STOCK EXCHANGE AFTER THE WAR ENDED

THE DOLLAR IS DECLINING.” POSITIVE INDICATORS FROM THE SULAYMANIYAH STOCK EXCHANGE AFTER THE WAR ENDED

On Tuesday, the official spokesperson for the Sulaymaniyah Stock Exchange, Koran Jabbar, linked the decline in the dollar exchange rate in Iraq to the announcement of a halt to the regional war between Iran and Israel. He stressed that any provocations or mutual escalation between regional parties could lead to slight fluctuations in exchange rates.

“The decline in tensions in the region and the emergence of signs of understandings between Iran and the United States have directly impacted the dollar exchange rate in the Iraqi market, which has dropped from 148,000 dinars to 142,000 dinars per 100 US dollars,” Jabbar told Shafaq News Agency.

Jabbar explained that “the recent decline in the exchange rate is linked to a number of political and economic factors, most notably the cessation of military escalation and the resumption of dialogue channels between Tehran and Washington. These changes have also boosted market confidence and led to a relative improvement in the value of the Iraqi dinar against the dollar. ”

He added that “recent statements by US President Donald Trump have also contributed to supporting the Iranian currency,” explaining that “Iran, as one of the largest economies in the region, possesses a strong production infrastructure and has been able to build a self-sufficient economy since 1979, making it less vulnerable to collapse due to political and security tensions.”

The stock exchange spokesperson noted that “continued provocations or mutual escalation between regional parties may lead to minor fluctuations in exchange rates, but they are not expected to have a radical impact on monetary stability in Iraq or Iran in the near term.” He noted that “the current price of the dollar in the Iraqi market is acceptable and relatively stable, and is likely to continue unless severe geopolitical developments occur.”

 He stressed the “need for a well-thought-out difference between the official dollar exchange rate approved by the Central Bank of Iraq and the market rate, as this plays a significant role in alleviating pressure on foreign exchange reserves and enhancing the effectiveness of financial trading mechanisms.”

The exchange rate of the US dollar against the Iraqi dinar witnessed a significant decline in the markets of Baghdad and Erbil on Tuesday evening, coinciding with the closing of the stock exchanges. The dollar exchange rate in Baghdad fell to 141,600 dinars for $100, compared to its morning level of 142,500 dinars. Prices also declined in Erbil, reaching 141,300 dinars for sale and 141,100 dinars for purchase for $100.

TIDBIT FROM SANDY INGRAM: This is Needed for Revalue the IQD!!!

 Sandy Ingram 

 In June the World bank approved a $930 million loan for the Iraq railways extension and modernization project connecting Umm Qasr in the South and Mosul in the north. 

 This investment will boost domestic trade, create jobs and reduce reliance on oil exports which is necessary for a revalue of the IQD.