Finance: reduced state revenues is another reason is added to the rise of the dollar
Parliamentary Finance: reduced state revenues is another reason is added to the rise of the dollar
Tomorrow Press / Baghdad: the parliamentary finance committee, confirmed that the decline in fiscal revenues for the state proceeds from the sale of crude oil, another reason is added to the rise in the dollar’s exchange rate against the dinar, calling for activating the non-oil sectors. She said committee member Majda al-Tamimi’s “Tomorrow’s Press,” that ” Last central bank procedures for tax and Alcomerk or Article 50 of the budget, which identified the Iraqi Central Bank sales of USD $ 75 million a day, not only caused a rise in the dollar’s exchange rate against the dinar, but there are other reasons. ” She added that “the decline in financial revenue belonging to the state of oil sales, a major reason is added to the rise in the dollar exchange rates due to the Ministry of Finance, after gaining on the dollar from the sale of oil you are buying the dinar from the Central Bank of dollars obtained by, “indicating that” the oil revenues of the country fell by 50%, following a drop in oil prices US $ 50 per barrel, which contributed to the lack of revenue from hard currency “dollar”, affecting the national currency exchange rate. ” and called Tamimi “the necessity of activating the other non-oil sectors such as industry, agriculture and tourism in order to finance the balance of the equation of state and non-reliance on oil, mainly” . The Governor of the Central Bank has revealed the agency relationship, for tomorrow Press on Saturday, that the rise in the dollar against the dinar because of customs duties and income tax on coming to buy the dollar imposed by the government.