“It is possible to raise the exchange rate of the dinar against the dollar, even by a few percent”
An upcoming financial meeting chaired by Al-Kazemi discusses 10 economic alternatives and keeping salaries
“It is possible to raise the exchange rate of the dinar against the dollar, even by a few percent”
06/05/2020 09:25:20
{Baghdad: Al Furat News} The Finance Committee in the House of Representatives revealed an upcoming meeting that would bring it together with Prime Minister Mustafa Al-Kazemi and both the Ministry of Finance and the Central Bank to present 10 alternatives to overcome the current economic crisis and maintain the salaries of employees without deduction, and agree on what can be implemented from those alternatives.
“There are many alternatives available that can significantly reduce the severity of the current crisis, including an increase in the price of a barrel of oil that is sold by $ 5 to refineries of the Ministry of Oil, while the rate of selling it according to the 2019 budget is 60 dollars. ”And he
stated that“ those refineries buy about one million barrels per day; That is, there is a difference in the price of up to $ 55, meaning that there is a price difference of $ 55 million, “indicating that the treasury can supply about 50 percent of this amount, i.e. within the limits of $ 20-25 million.”
He added, “The other alternative is to reconsider the sums of real estate sold cheaply and leased with sums, especially those that are located in the heart of the capital and in distinct areas of it, as it can be re-evaluated again because some of them are inhabited without paying any sums of rent at all.”
He indicated that “the government should also pay attention to the debts incurred by telecommunications companies, especially the mobile phone and the Internet, and their collection, which amounts to millions of dollars.”
Al-Waeli warned that “the amounts owed by the border ports, customs and taxes after being properly and clearly monitored, as well as transport companies, despite the existence of a crisis in that at the present time, all of which can be invested to alleviate the economic crisis caused by the decline in oil prices,” stressing that “the executive bodies should pay great attention In the issue of the agricultural calendar and product protection, by preventing the entry of unnecessary agricultural crops available in the local market, or imposing customs prices on the importer from them in order to equate with their local counterparts as they are cheaper than what is present in the Iraqi market, thus leading to the revitalization of the agricultural sector, especially in the conditions of curfew, By paying attention to the agricultural lands owned by some citizens and whose crops are sufficient for consumption by them, their families and their neighbors. ”
He explained that “the committee also proposed to raise the customs tariff for raw raw materials, after the Iraqi industrialists were harmed by them and those who import the raw material, to show then that their prices are more than the price of the ready-made imported material, which leads to the closure of the factory and the layoff of workers, while imposing a tariff on The imported materials will make them in competition with the local product, “noting” the necessity of encouraging the national product and making a difference in prices between it and the importer. ”
He added, “It is possible to raise the exchange rate of the dinar against the dollar, even by a few percent that corresponds to the vision of the central bank, after deliberating between it and the financial committee on this issue, despite the first refusal of the matter as a financial policy, but the committee is trying to hold the stick from the middle and the possibility of implementing this matter even with numbers Few and gradually maintain the value of the Iraqi dinar against the dollar.
Al-Waeli indicated that “there is a forthcoming meeting of the Finance Committee with Prime Minister Mustafa Al-Kazemi and the Ministry of Finance next week to present those alternatives before it and implement what can be implemented from them.” He stressed that “the committee is in the process of preparing an integrated study in the light of the reports submitted by both the Central Bank on the financial crisis and the government As seen by the Council of Advisors, which dealt extensively with employee salary cuts as a solution to overcoming the financial crisis. ”
Ammar Al Masoudi ended
alforatnews.com
