Dolar sinks in Puntland after MPs start spending their new dollars

[Dahireeto]

Waxaa si aada hoos ugu dhacay lacagta dollarka marka loo badelaayo shillinka Soomaaliga, horay suuqyadda Puntland waxaa halka dollaar lagu sarafi jirey 35,000 oo Shillinka Soomaaliga ah, halka uu maanta maraayo 30,000 oo Shillin isaga oo u muuqda inuu hoos uga sii socdo.

Arintan ayey si aada u hadal hayaan dadweynaha reer Puntland iyagoo u yeelaayaa sababo kala duwan, waxaase sababta ugu weyn ay tahay lacag dollar ah oo aad u fara badan oo maalmihii u danbeeyey si xoogan usoo gashay suuqyada Puntland taas oo ka timi musharixiintii ku loolamaayey doorashadii madaxtinimada.

Waxaa la qiyaasayaa inay suuqyadda Puntland soo galleen in ka badan shan iyo toban milyan oo dollar maalmihii u danbeeyey.

Dadka muruq maalka ayaa soo dhaweeyey hoos u dhaca dollarka, waxayna sheegeen inay sicir bararka sarifku uu dhibaatooyin badan ku hayey.

Sanadihii u danbeeyey degaanada Puntland waxaa si aada hoos ugu dhacaayey qiimaha lacagta shillinka Soomaaliga, taas oo sababtay sicir barar baahsan oo laga dareemay Puntland.

PUNTLAND POST

[maakhiri1]

in real world, yeah that could be cause, but this is more like Gaas money printing machine stopped

[Che -Guevara]

It's combination. The new president cut some taxes and increased tax on jaad.

[Samafal]

4 hours ago, Che -Guevara said:

It's combination. The new president cut some taxes and increased tax on jaad.

Actually, he did not cut no taxes but applied 100% of taxes previous admin waived due to special circumstances. And I can't see how that affects the value of the dollar. Plus this decree was announced today and the dollar was going down in the last few days since election.

On another note, I remember Abdiwali trying to apply 100% of taxes passed by parliment. But you know what happened? The Jaad merchants switched to Galmudug airstrip in Galkio and smuggled into Puntland to avoid the extra 50% charges. He was expecting to win extra 50% but lost 100% of all taxes levied on Jaad.He had no choice but to reverse his decree. So now he too might face same problems. And that is where I say changing leaders for emotional reasons that are not based on rationale is counterproductive but rather detrimental as each leader wastes couple of years going through some basic learning curve. 

[Dahireeto]

Maybe he wants the Jaad to be smuggled from Somaliland where he has business interests. 

[Che -Guevara]

Samafal,

I stand corrected.

[Duufaan]

I was wrong Mr Deni, I particularly like that he has a national agenda and learned something from the new team in villa somalia. He is the first putland's president since Abdilaahe Yusuf  with national ambitions. I will not surprise if he replace Farmaajo in two year.

[maakhiri1]

[Samafal]

19 hours ago, Dahireeto said:

Maybe he wants the Jaad to be smuggled from Somaliland where he has business interests. 

Is true though. If true we have another Farole on our hands.