Citizens are afraid to enter large cash categories and experts they consider a new achievement

05/19/2015




Dinars / Abbas Al passengers /..rpma Iraqi government's progress in some cases, the steps have not only benefited a class or a specific segment of Iraqi society, while the ordinary citizen is affected first and last of those steps that Ataud benefit him.

Iraqi street was trading days since the news that the Ministry of Finance, represented by the Central Bank will issue a new currency from the category of "50" thousand dinars and then followed after issuing another currency of a larger category of a "100" thousand Iraqi dinars.

The moves in light of the suffering severe the country as a result of fiscal austerity that has ravaged the country about more than a year and a large deficit in the state budget since, through a multitude of objects of expenditure and the adoption of the government to only rentier economy, oil and some industries light of, in addition to the face of the country to organize Daash terrorist war against it, and having to reduce staff in the public sector wages as well as stop the financing of some projects as a result of fiscal austerity.

Dr. appearance of Mohammed Saleh adviser to Prime Minister for Economic Affairs told "economic dinars" on the subject, saying: I am with this trend in the introduction of large cash categories because it will raise the efficiency of large payments large cash and categories system facilitates the trading of large parliamentary blocs so they shortened the monetary amounts by half or more and solve the problem of the transfer of those quantities, Iraq is still handles cash Order Cache and not the card that requires time and effort and the culture of the visa regime.

He adds that the benefit of this project was due to work done for years, which does not contradict with the project to delete the zeros because reform, there is no need to fear the introduction of these large groups to the market because the financial institutions in the country studied the subject from all sides and is a guarantor of safety.

Some citizens believe that the "large cash categories" to enter the market now is tantamount to adding new burdens on the ordinary citizen as simple salary categories will be hard to break or turn them into smaller groups in order to dispose of them.

They accuse the state to take decisions to Atsb in their interest never, through this confusion decisions is well thought out economic feasibility and benefits desired, but are skeptical about a lot of them that there are mafias significant financial and whales want to take advantage of the introduction of these large groups that might cripple the market movement and the elimination of small groups of categories of "250" dinars and the "500" and "1000" dinars final and the first affected by it is to cancel the taxi buses that operate within the alleys and removed from the "500" to "1000" and the abolition of the pricing "ticket" hospitals, the government's "500" BD also due to lack of loose change final of daily trading, and will be traders are the first beneficiaries of this decision because they would import goods from outside Iraq through that currency instead of running behind the currency of the US dollar or the euro European volatile in terms of demand and supply and the purchase price as well.

To Aikhvi citizen "Abu Zahraa al-Moussawi," 34-year-old fear of this sudden decision to us and says that his fear Mtota of greed merchants, exploitation and opportunists of them, because large denominations were a big problem in one day, especially in the post-dictatorial regime fall of 2003 as traders to Aigmon take unzip large currency, which was at the time 10 000 dinars and 25 thousand, but buy eggs layer or a dozen full of cigarettes or any other commodity is determined by the dealer himself, citizens are forced to acquiesce to buy some of the issues they do not need them perhaps some people to Aadechn or unwilling to buy eggs table of the market and other goods.

He adds that the ordinary citizen fears of a repeat of the same scenario, especially since there is chaos in Iraq and the absence of economic sergeant in the market now is Maahdja traders on foot to carry out acts of earning profits is due and multiply.

It recalls that monetary categories in the country has gone through many stages and each time increased in number Ocefarha and pulls small currencies "loose change" and rising prices and growing, while large currency chasing small currencies remain as it says modern economic base, and increasing numbers of financial Warraq entering the market and the corresponding gold .


http://dananernews.com/News_Details.php?ID=5768