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Economics

Heavy taxes result in higher prices in Iraq

The Iraqi federal government started imposing higher taxes, despite lacking factories that can suffice the local consumption. In 2018 budget, the government imposed “heavy” taxes, but the recent ones affected the consumption commodities which shall be paid by the ordinary consumers. According to Iraqi economic experts, the new taxes were imposed upon the demands of the International Monetary Fund in order to get IQD13 trln from the taxes and fees, which revealed “the weakness of the state”. The new taxes will last for the coming four years, which ranged from 20% to 100%.

Source: http://www.iraqtradelinknews.com/2018/06/heavy-taxes-result-in-higher-prices-in.html

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RSISX Index

Type Close % Chg YTD % Chg
IQD RSISX 668.5 0.3% -17.6%
USD RSISX 717.1 0.3% -14.2%

Best & Worst Performers

Best Performers

Code Closing (IQD) % Chg
HMAN 12.000 5.3%
BGUC 0.210 5.0%
BASH 0.230 4.5%
IRMC 12.950 3.6%
IKLV 1.280 3.2%

Worst Performers

Code Closing (IQD) % Chg
AMAP 0.210 -8.7%
IMOS 4.100 -5.5%
AIRP 8.500 -5.5%
BROI 0.400 -2.4%
BCOI 0.460 -2.1%

TOP 5 Traded Volume

Code Trading Vol.
(IQD mn) / d
Trading Vol.
($'000)/d
BAIB 338.9 280.1
BBOB 104.2 86.1
IBSD 62.3 51.5
BGUC 19.6 16.2
IKLV 16.4 13.6

Trading Volumes by Sectors

Sector Trading Vol.
(IQD mn)/d
Trading Vol.
('000 $)/d
Telecom 1.5 1.3
Banking 504.5 416.9
Industry 112.0 92.6
Hotels & Tourism 35.4 29.2
Services 14.6 12.1
Agriculture 7.3 6.0
Insurance - -
Investment - -
Money Transfer - -
Total 675.3 558.1