New changes to the exchange rates of the dollar attract the attention of the Iraqi street ... "big" consequences that economists predict
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New changes to the exchange rates of the dollar attract the attention of the Iraqi street ... "big" consequences that economists predict
Admin Sat Mar 13, 2021 1:56 pm
New changes to the exchange rates of the dollar attract the attention of the Iraqi street ... "big" consequences that economists predict
2021-03-12
Yes Iraq: Baghdad
[size=32]Wide anticipation continues in the Iraqi street for any new decision related to changing the exchange rate of the dollar again in Iraq and reducing it or returning it to its previous price, after the committee formed to study the consequences of changing the exchange rate announced that it will come out with recommendations to the Council of Ministers within 30 days.[/size]
While there is talk, anticipation, and demands for restoring the previous exchange rate, economists have highlighted major consequences that may occur as a result of changing the exchange rate.
Economic expert Manar Al-Obaidi says in a blog posted by "Yass Iraq", "There are a lot of discussions these days regarding the review of the exchange rate and whether it will be changed or not and return it to 1200," noting that "any change in the exchange rate in this near period will have great repercussions Including the loss of confidence in the Iraqi economy.
He adds: "The exchange rate was made under pressure from the World Bank and the international parties supporting Iraq, and the process of returning the price will lead to a reduction in support from these parties." In the Iraqi market, it will make importers maintain a high exchange rate, fearing the possibility of a return to its rise. ”
He explained, "The government should take advantage of the currently high price of oil to immediately start building industrial strategic projects capable of providing raw materials for manufacturing industries, which will support the provision of a local product capable of providing various products to the Iraqi market."
He stressed that "if the exchange rate had to be changed, it is better to move towards floating the dollar instead of the policy of controlling the exchange rate and depleting hard currency to maintain a stable exchange rate," noting that "what is required of the Ministry of Planning is to work strongly to clarify the sectors that most affect the rise in the dollar price And work actively to launch programs packages to reduce the impact of the depreciation of the dinar on these sectors, especially in the food and health sector.
He continued, "Work to issue a performance follow-up report for the development plan, which is the basis for building the country and activating the correct economic policies instead of focusing on monetary policy, which is considered supportive of economic policy and not the pillar of the Iraqi economy," stressing "the need to activate the 3 trillion initiative that was announced." About the Central Bank to support vulnerable groups and work to activate the ration card and improve its vocabulary.
https://yesiraq.com/%d8%aa%d8%ba%d9%8a%d9%8a%d8%b1%d8%a7%d8%aa-%d8%ac%d8%af%d9%8a%d8%af%d8%a9-%d8%b9%d9%84%d9%89-%d8%a7%d8%b3%d8%b9%d8%a7%d8%b1-%d8%b5%d8%b1%d9%81-%d8%a7%d9%84%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%aa%d8%b4/
2021-03-12
Yes Iraq: Baghdad
[size=32]Wide anticipation continues in the Iraqi street for any new decision related to changing the exchange rate of the dollar again in Iraq and reducing it or returning it to its previous price, after the committee formed to study the consequences of changing the exchange rate announced that it will come out with recommendations to the Council of Ministers within 30 days.[/size]
While there is talk, anticipation, and demands for restoring the previous exchange rate, economists have highlighted major consequences that may occur as a result of changing the exchange rate.
Economic expert Manar Al-Obaidi says in a blog posted by "Yass Iraq", "There are a lot of discussions these days regarding the review of the exchange rate and whether it will be changed or not and return it to 1200," noting that "any change in the exchange rate in this near period will have great repercussions Including the loss of confidence in the Iraqi economy.
He adds: "The exchange rate was made under pressure from the World Bank and the international parties supporting Iraq, and the process of returning the price will lead to a reduction in support from these parties." In the Iraqi market, it will make importers maintain a high exchange rate, fearing the possibility of a return to its rise. ”
He explained, "The government should take advantage of the currently high price of oil to immediately start building industrial strategic projects capable of providing raw materials for manufacturing industries, which will support the provision of a local product capable of providing various products to the Iraqi market."
He stressed that "if the exchange rate had to be changed, it is better to move towards floating the dollar instead of the policy of controlling the exchange rate and depleting hard currency to maintain a stable exchange rate," noting that "what is required of the Ministry of Planning is to work strongly to clarify the sectors that most affect the rise in the dollar price And work actively to launch programs packages to reduce the impact of the depreciation of the dinar on these sectors, especially in the food and health sector.
He continued, "Work to issue a performance follow-up report for the development plan, which is the basis for building the country and activating the correct economic policies instead of focusing on monetary policy, which is considered supportive of economic policy and not the pillar of the Iraqi economy," stressing "the need to activate the 3 trillion initiative that was announced." About the Central Bank to support vulnerable groups and work to activate the ration card and improve its vocabulary.
https://yesiraq.com/%d8%aa%d8%ba%d9%8a%d9%8a%d8%b1%d8%a7%d8%aa-%d8%ac%d8%af%d9%8a%d8%af%d8%a9-%d8%b9%d9%84%d9%89-%d8%a7%d8%b3%d8%b9%d8%a7%d8%b1-%d8%b5%d8%b1%d9%81-%d8%a7%d9%84%d8%af%d9%88%d9%84%d8%a7%d8%b1-%d8%aa%d8%b4/
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