Text of the Minister of Finance’s speech regarding the price of the dollar and the suspension of appointments {extended}
Text of the Minister of Finance’s speech regarding the price of the dollar and the suspension of appointments {extended}
12/19/2020 16:02:41
{Baghdad: Al Furat News} The Minister of Finance, Ali Abdul Amir Allawi, announced, on Saturday, the raising of the dollar’s exchange rate to 1450 dinars to the dollar, while he confirmed the suspension of appointments.
Allawi said during his meeting with a number of press institutions, “We will issue a statement to raise the exchange rate of the dollar to 1450 dinars to one dollar. We will also stop appointments and there is an exception for those that took place at the end of last year and beginning of 2020.”
He added, “We have reached an agreement with Kurdistan on the 2021 budget, and the current delegation is discussing its allocations for 2020,” denying “categorically the leakage of the draft budget from the Ministry of Finance.”
Allawi pointed out that “the 2021 reform budget, and no one can deny that, and I do not know if the street was in anger, but I felt the responsibility for the reduction in everyone.”
He pointed out that “the impact will be on the users of imported goods only, and that there is a great exaggeration in dealing with these changes,” stressing that “the budget is reformist and not austere, and the change of the economic axis will be through this budget.”
Allawi added, “The price of the dollar set at 1450 dinars will be approved for sale by the Ministry of Finance to the Central Bank, while the margin that the Central Bank will add will not be large and may reach 1490 dinars to one dollar.”
He also stressed that “the government receives the support of all major countries, the International Monetary Fund and the World Bank for the reform paper,” indicating that “the budget is the beginning of reform, and there will be other steps in the future to implement the white paper, and it may reach Parliament within a week.”
Allawi noted, “There are resources allocated to the Ministry of Health and the Ministry of Labor and Social Affairs that have not been compromised,” adding, “We want to restore confidence in the saved dinar and re-strengthen government banks by providing new digital financial services.”
He continued, “Reducing allocations was measured in proportions, and I was ready to be questioned, and I was hosted more than once.”
While Allawi disclosed that “direct government banks to increase rates of the interest rate, and that the government and the central bank will seek to install the new price,” adding that ” the Iraqi economy will increase the effectiveness with the introduction of economic reforms into force”
and completed “exchange – rate adjustment is a political decision of the Iraqi leadership, as It will contribute to reducing the budget deficit and help the state fulfill its obligations towards paying salaries and retirement and support vulnerable groups in society, and it will also contribute to creating good job opportunities. ”
Allawi also announced, “supporting major financial institutions at the new exchange rate,” expecting its “stability,” noting that “travelers are not likely to be affected by the change in the exchange rate,” noting that “the Central Bank will continue to ensure the provision of all necessary foreign currencies, and the government will take measures to compensate for the consequences.” Negative exchange rate adjustment for the poor.
And, “We have increased social welfare allocations in the budget for next year to compensate for the possible rise in the prices of some imported goods, which will rise once.”
The Minister of Finance concluded, “The levels of pensions will not be affected in any way as they are defined in the Iraqi dinar, and the reserves maintained by the Central Bank of Iraq are strong and fully capable of absorbing any additional requests for foreign exchange.”
alforatnews.com
