The central bank plan for the possibility of low exchange rate of the dinar

Experts: purchasing power of the citizen will weaken in Ramadan .. And the central bank plan for the possibility of low exchange rate of the dinar

On: Sun 07/15/2012 12:30

Baghdad (news) / report / Faleh Hussein / .. With busy traders and markets, how to turn a profit in the month of Ramadan soon, likely by experts and deputies low purchasing power of the citizen by the expected increase in food prices is not equal to his income daily.
and warned of the low exchange rate of the dinar significantly in Ramadan, because of confusion happening in the local market and the possibility of high rates of inflation, but the face of these possibilities put the central bank plan to preserve the value of the dinar, which was sent to the Economic Committee in the Council of Ministers for approval to be effective. In this regard, said a member of the Finance Committee MP / National Alliance / Faleh force (of the Agency news): The Central Bank to take into consideration the possibility of low exchange rate of the dinar against the dollar during the month of Ramadan, he put a financial plan will reduce the gravity of that in the event of approval. confirmed: that the promises of the Ministry of Commerce to distribute a share with a full additional materials in Ramadan did not affect the prices that Ststar, noting that The ministry has not died on its promises so far. For his part, most likely, an economist reconcile inhibitor for weakness in the purchasing power of the citizen during the month of Ramadan due to increased prices in the domestic market, which is disproportionate to his monthly income. The inhibitor (of the Agency news): The Iraq did not possess a system ( quota), which cause upheaval in the economic process and trade in the country. and (quota) in the trading system means a fixed roof of the prices imposed by the government to merchants and shop owners and requiring them to sell goods and materials at the price specified under any circumstances. He added that price increases will also on the local currency by increasing the demand for the dollar and make the exchange rate volatile, especially since the dinar is currently experiencing a decline against the dollar. and expert proposed solution and the Ministry of Commerce and the delivery of business processes, especially a ration card to the private sector in order that his functions, creating an atmosphere competitive in local markets, from through the provision of materials according to the needs citizens to it and at competitive prices. For his part, member of the Economic Commission deputy / coalition in Iraq / Qusay Friday: that an increase in prices in the month of Ramadan is normal in light of the growing demand for the purchase of this without the rest of the months. Juma said (of the Agency news News): It is assumed that the Ministry of Commerce to provide all the ration card items in order to make prices stable in the local market, because the price increase will affect directly on the citizen, especially those with limited income. predicted survival rate of the dinar against the dollar steady during the month of Ramadan. For member Committee on Economics and Investment MP / National Alliance / Abdul-Hussein Resan, he criticized the absence of plans and preparations for the Ministry of Commerce to receive the holy month of Ramadan. Husseini said in a statement earlier received the Agency (news) copy of it: that food prices in the market began to rise with the proximity of holy month of Ramadan, because of the growing demand for them by the citizens, criticizing the lack of plans of the Ministry of Commerce in this regard. and wondered Resan: Do you think the ministry, the Iraqi people as possible to be content to distribute five kilograms flour zero for each family and a half kilograms rice basmati first class and a quarter kilo lentils every citizen during the month of Ramadan in the country of its budget $ 100 billion?. and new member of the Economic Committee: confirmation that there is no mechanism to control the rising food prices before the holy month of Ramadan. It is noted that the provision of the ration card items are full of Iraqi consumers become problematic after 2003, and reduced vocabulary despite the high rate of poverty and unemployment, and refers to official statistics, there are seven million Iraqis under the poverty line, failed efforts to the implementation of decision to reduce the ration materials, and only the concerned authorities, particularly the Ministry of Commerce certainly that the decision of the reduction came for reasons of policy approved by the House of Representatives, no income Department of Commerce in it. / Finished / 8. d. Q /
Source: ikhnews