Parliamentary Finance resolves the controversy and reveals the fate of the dollar exchange rate in the budget

by **claud39** Wed Jan 13, 2021 3:21 pm

Parliamentary Finance resolves the controversy and reveals the fate of the dollar exchange rate in the budget

2021-01-13

Parliamentary Finance resolves the controversy and reveals the fate of the dollar exchange rate in the budget 1610436131791

Shafaq News / The Parliamentary Finance Committee confirmed, on Wednesday, its inability to change the exchange rate of the Iraqi dinar against the US dollar, indicating that the exchange rate has stabilized after the approval of the 2021 budget law.

Committee member Jamal Cougar told Shafaq News that the reports about a parliamentary move to change the exchange rate of the Iraqi dinar against the US dollar are incorrect.

He indicated that the Parliamentary Finance Committee does not have any authority to change the exchange rate of the dinar against the dollar, stressing that the Central Bank is the only body that has that authority and is able to change or return the exchange rate.

Cougar pointed out that the exchange rate of the dinar against the dollar in the market will stabilize after the approval of the General Budget Law for 2021 in the House of Representatives.

Earlier today, Wednesday, Finance Minister Ali Abdul Amir Allawi announced his intention to take a package of measures that mitigate the effects of devaluation within two weeks.

A statement by the office of the head of the State of Law coalition, Nuri al-Maliki, received by Shafaq News, said that the latter received Allawi, today, and the meeting dealt with the necessary means to support Iraq to face the current financial crisis and the plans and measures required to overcome it, and the importance of uniting efforts and solidarity among all to reduce the deficit in the general budget in order to achieve justice Social.

Al-Maliki stressed, according to the statement, the necessity of carrying out appropriate reforms that contribute to rationalizing spending and preserving public money, stressing that economic treatments to get out of the current situation should not affect the layers of limited income, employees, retirees and their pension obligations.

The head of the State of Law coalition renewed his call on the government to "not neglect the rights of peasants and farmers and to delay the payment of their dues."

In his turn, the Minister of Finance reviewed the procedures followed by the ministry in dealing with the economic and financial conditions.

Allawi confirmed, according to the statement, that the ministry will take a package of measures within two weeks to mitigate the effects of devaluation, calling for "concerted efforts to overcome the current stage and its repercussions on public life."

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