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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 778.5 -0.8% -4.0%
USD RSISX 835.1 -0.8% -0.1%

Best & Worst Performers

Best Performers

Code Closing (IQD) % Chg
HASH 7.300 4.3%
AMEF 10.000 3.7%
TASC 8.110 3.3%
IKLV 1.860 1.6%
HNTI 7.750 0.6%

Worst Performers

Code Closing (IQD) % Chg
BMFI 0.190 -5.0%
BGUC 0.220 -4.3%
IMIB 2.130 -4.1%
HBAY 50.000 -2.9%
BCOI 0.430 -2.3%

TOP 5 Traded Volume

Code Trading Vol.
(IQD mn) / d
Trading Vol.
($'000)/d
BBOB 127.1 105.0
BNOI 108.4 89.5
BGUC 40.0 33.1
IBSD 35.3 29.2
BIME 17.4 14.4

Trading Volumes by Sectors

Sector Trading Vol.
(IQD mn)/d
Trading Vol.
('000 $)/d
Telecom 7.0 5.8
Banking 303.8 251.1
Industry 68.5 56.6
Hotels & Tourism 13.9 11.5
Services 5.6 4.6
Agriculture 4.2 3.5
Insurance - -
Investment - -
Money Transfer - -
Total 403.0 333.0