Iraq: The government decides to fix the exchange rate in the 2022 budget

Iraqi Government Spokesman/Minister of Culture Hassan Nazim. "Internet"
 
09/06/2021

Economy News - Baghdad

The official spokesman for the Prime Minister, Hassan Nazim, confirmed that the exchange rate of the dollar against the Iraqi dinar in the draft law on the general federal budget for the country for the year 2022 is fixed and there is no change in it.

Nazim said, in a statement reported by the official "Al-Sabah" newspaper and seen by "Al-Iqtisad News", that "increasing the dollar exchange rate is an idea that has been discussed for years, and a previous government did not dare to take this step because of the risks and controversies surrounding it."

He added, "Al-Kazemi's government was bold in taking this decision, as it was in the interest of the Iraqi economy, and in the reform economic vision of the Ministry of Finance, as it presented this idea within the reforms of the white paper and won acceptance and extensive discussion."

And he indicated that "the government always takes steps to support goods and materials whose prices have risen, and has developed solutions and taken decisions regarding them, but the idea of ​​the dollar exchange rate is not retracted in this government, and I do not think that the 2022 budget will change this price, since this government is the one who will set the budget for next year." ".

He continued, "The government at one time was not reassured of its ability to pay the salaries of employees, but with its policy it crossed this crisis and the increase in oil prices came as a catalyst, and even if oil prices increase, there will be big problems unless there is a wise management of the financial resources coming from exporting." raw.”

And he indicated that "there is a kind of rise in the foreign reserve, and there is no abundance as a result of the accumulated deficit, and therefore any financial increase through which the government will try to fill the deficit with it, and we are not talking about existing surplus funds that we park here and there, but rather we are trying, within the reform white paper, to control the economy and make it dynamically developed.

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