************* Economists: No reason to treat local companies Alajnah currency

November 25, 2014



Baghdad. Ahmed Mohamed stressed MPs and businessmen on the need to adopt the Iraqi dinar in local dealings, to raise the value of that currency against the US dollar, which contributes to the award of the national economy.

Iraq is going through a financial crisis that threatens its economic future, according to observers, the result of spending Miliradt dollars on the war against terrorism, and the displacement of the population of the provinces of western and northern country to safe places in northern and central Iraq and the south, which calls on the government to follow the austerity policy, to address the significant shortfall in the annual budget public.

He welcomed the academic and businessman that all domestic transactions be in Iraqi dinars, instead of the US dollar, adding that the import contract opens adopted the dollar, if the style payment based, though it is possible that the deposit be Dinars.


Foreign import contracts and require that the dependence dollar or the euro, while local ones are in dinars, and sometimes rely dollar. According to the spokesman, who wished to withhold his name, the owner of a contracting company specializing in oil and electricity, that most companies have banking facilities in regional banks like Jordan and Dubai, and you want to be a style based payment for financial security.



"Does not make sense to be treated in local companies with the citizens to the US dollar", thus sees the spokesman, who said that most Western countries refuse to deal without their local currencies. And refers to the speaker that the imposition of this deal, which he described as "small", provides a demand for the local currency, but adding that included the entire local deal would be great.

It focuses on Dr. that are placed on all purchases in accordance with the credit through the Bank, for the development and revitalization of the national banking system. For his part, sees member bloc independent MP d. Mohammed al-Shammari, the global economic situation makes it imperative for everyone stand up and actively national Iraqi economy, and keep it from schemes aimed at wrecking.

Al-Shammari said in a press statement seen by "the world" on Monday that by some States to increase its oil exports to the market in order to reduce oil prices, aims to impact on the economies of countries that rely on oil Coward head of her, in order to pass a number of "major countries of the projects .

The statement added that, unfortunately, some government departments and institutions to contribute in that attack, which seeks to weaken our national economy and destroy, in several ways, including, dealing the American process, rather than the local currency, noting that, for example, Iraqi Airways does not accept cut airline tickets for a sum Iraqi dinars, but require that the amount in US dollars.



Shammari stressed the need to instruct government departments and institutions that deal in Iraqi dinars, to help raise its value against the US dollar, which assigns the national economy.

 On the other hand, Deputy Prime Minister Bahaa al-Araji, on Monday, the financial budget for next year 2015 continuing to decline in oil prices globally influenced, pointing to the need to reduce unnecessary expenditure in the budget and rationalization.

Araji said that "the Council of Ministers Akif to approve the financial budget for next year as soon as possible, it is necessary to determine the price of oil in the budget according to less than the current market price is the price to avoid deficits that may occur in the event of continued low oil prices and is expected the opinion of experts in the field of oil ".

He added that "everyone knows that there is a financial problem as a result of the continuing decline in oil prices, as well as the shortfall in the budget year 2014, which requires work and a thoughtful and planned to meet the projected deficit and continue to raise the oil production ceiling," stressing that "the rationalization of expenditures will not affect the launch grades and salaries of employees and retirees.

He called al-Araji, all the political blocs to "combine their efforts and contribute in earnest through cooperation with the government to rid the country of the inherited problems in the field of security and money, economy, trade, administrative and financial corruption." It is said that a large number of economists stressed that Iraq's budget for 2015 will be affected significantly lower global oil prices to the fact that the budget unilateral supplier.


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