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Prof.Dr. Mahmoud Mohammed Mahmoud Dagher: Lights on the devaluation of the Iraqi dinar
May 30, 2019
Despite the gradual decline since the end of 2017 of the deep economic crisis suffered by Iraq in the years 2014-2017, but the Iraqi economy is still declining, where the total dependence on the proceeds of the rent resource, and weakness of the real sector, as well as lack of financial depth, and planned deficit Suffered by the state budget.
In light of these conditions, many specialists in economic affairs are trying to make proposals in order to improve the reality of the Iraqi economy and find effective solutions to its problems, and although they differ in their proposals, which is normal, but they all agree on the cause of what is happening, because the economic history has become known ( Not certain but the past).
But what about quick and feasible solutions and suggestions, and does speed call for proposals that are easy to implement quickly fade their effects? Or does speed mean that each entity in the economy and duties Among the most serious of these proposals is the " devaluation of the Iraqi dinar" , a serious decision lies the gravity of the following:
- Reconsider all macro balances (cash, real).
- The reduction is a flat and implicit tax that does not take into account the different income of the citizen.
- Failure to meet pre-requisites (customs, taxes, collection of services) leads to a depletion of the reduction effect.
- Inflation (inevitably) to the downgrade will ignite expectations and pressures for the continuation of subsequent reduction decisions.
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