Al-Kazemi’s advisor expects the exchange rate to remain at its current position

Monday 21 February 2022 11:36
 
Baghdad / NINA / - Adviser to the Prime Minister for Economic Affairs, Mazhar Muhammad Salih, suggested that the exchange rate of the dollar against the Iraqi dinar would remain at its current status.

Saleh said in a press statement, "It is the monetary policy that determines the exchange rate according to the law of the Central Bank of Iraq," adding that "unfortunately, there have been many interventions."

Saleh added, "Coordination between monetary policy and fiscal policy in a rentier country such as Iraq is very important, especially since the reserves supporting the Iraqi dinar come from the Ministry of Finance," noting that "according to the statement of the Central Bank of Iraq, there is an understanding and insistence on maintaining the stability of the Iraqi dinar exchange rate on Its current rate, and that the bank’s statement indicated the insistence and defense of the exchange rate.”

He continued, "It is certain that there are benefits in the decision to raise the exchange rate and a lot of harm," adding that "the Ministry of Finance was hedged from the issue of harm, especially in terms of the poor classes and the extent of inflation."

And the adviser to the Prime Minister for Economic Affairs continued, "According to the statement of the Ministry of Finance, it appears that the previous parliament reduced the budget and increased support for the poor classes, which is an important point in my estimation," noting that "more than a trillion dinars have been deleted from the allocations of groups covered by social welfare salaries."/ finished8

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