Experts suggest: the distribution of half salaries in dollars while reducing the rate of the dinar
Experts suggest: the distribution of half salaries in dollars while reducing the rate of the dinar
01/11/2016
BAGHDAD / JD / .. proposed number of experts and specialists in the financial and economic affairs, up dollar exchange rate against the dinar to 200 000 dinars for $ 100, and the resort of the government to half the distribution of salaries of state employees in the currency of the dollar to absorb potential financial crisis in the country.
He said the financial expert on behalf of Hadi al-Tamimi, there are several proposals the government can take in order to get out of the potential financial crisis as a result of the continuing decline in oil prices, including the issuance of bonds to the public and to activate the productive sectors and support the private sector as well as a review of the price of the dollar against the dinar.
He said al-Tamimi told / JD / that since sales of Iraqi crude oil in the currency of the dollar means that the country’s revenues in the currency of the dollar could increase its exchange rate against the dinar as a measure of my time to absorb the impending financial crisis, because there is a possible crisis in the event of low oil prices continued to below $ 30 because of adoption of Iraq almost entirely on oil revenues.
He noted that in the event of determining the dollar exchange rate to 200 000 dinars, compared to $ 100 would provide significant cash liquidity of the country, but this procedure can be temporarily any in the crisis period and after the improvement of the financial situation could reduce the dollar exchange rate against the dinar.
He called financial expert to invest part of the monetary reserves at the Central Bank in generating investment projects earnings to be another source of revenue for the state.
For its part, announced the economic and investment commission for parliamentary submit a proposal to the government to distribute 50% of the salaries of state employees in the currency against the dollar increased the dollar exchange rate against the dinar.
Said committee member Rep. Najiba Najib told / JD /: The Chairman of the Committee of Economy and Investment submitted a proposal to the government to cope with potential financial crisis, indicating that the proposal contains half the salaries of state employees distributed in the currency of the dollar with the increase in value of the dollar against the dinar to absorb the financial crisis.
She noted that the government will meet the Central Bank and the relevant parliamentary committees to agree on this proposal and its application.
The Finance Committee has confirmed the presence of a project to reconsider the dinar exchange rate against the dollar with the government and central bank.
He said the Commission’s decision Haji Ahmed Rashid told / JD /: there is a legitimate taught by the Central Bank and the Council of Ministers, and the Finance Committee, to reconsider the dollar’s exchange rate against the dinar.
He added that it is still a project under study and no decision, where they are studying Is Iraq could reconsider in the exchange rate, and whether it is in the Government’s interest or detrimental to the citizen ?, noting that a review of the exchange rate would be the government’s interest but hurt the citizens, as this will increase the exchange rate to runaway inflation, and an increase in commodity prices, stressing the need to take it into consideration and study of all aspects of the project, before making any decision.
Iraq is facing a financial crisis due to the sharp decline of oil, in terms of financial budget for this year with a total expenditure of more than 105 trillion deficit accounted for 22.8%. / End / 8 /
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