Chamber of Commerce: Prices have risen by 20% and promises to lower the dollar have not been fulfilled.
Chamber of Commerce: Prices have risen by 20% and promises to lower the dollar have not been fulfilled.
11-14-2026
The Diyala Chamber of Commerce confirmed on Saturday that Iraqi markets are experiencing a recession, noting that prices have risen by at least 20%. The Chamber also pointed out that the government has yet to fulfill its promises to lower the dollar exchange rate in the parallel market.
Mohammed al-Tamimi, head of the Diyala Chamber of Commerce, explained to Al-Maalomah that “markets in Diyala and other provinces are experiencing a recession, especially since the dollar exchange rate changed a few months ago, which has led to a price increase exceeding 20%.”
Al-Tamimi stated that “this recession will persist for a considerable period if government decisions are not implemented on the ground and if its promises to lower the dollar exchange rate in the parallel market and bring it closer to the official rate announced by the Central Bank are not fulfilled.”
He added that “this will increase pressure on the markets, thus prolonging the recession for potentially longer periods.”
Al-Tamimi pointed out that “all merchants and companies are negatively impacted by the government’s recent decision to raise the dollar exchange rate, and therefore there have been no serious moves so far to revitalize the markets and pull them out of recession.”
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