After the justification for the exchange rate hike disappeared … Parliamentary criticism of the government’s insistence on its position

After the justification for the exchange rate hike disappeared … Parliamentary criticism of the government’s insistence on its position

2021-04-12 | 05:28

After the justification for the exchange rate hike disappeared ... Parliamentary criticism of the governments insistence on its positionReport: Alsumaria News
is still the repercussions of the high exchange rate of the dollar against the dinar, the price of which is paid by the simple citizen from the sustenance of his family. At a time when a parliamentarian indicated the absence of all the government’s justifications for raising the exchange rate, another indicated that the government’s actions harmed the simple citizen and the budget will remain under Street pressure.

Spokesman for the State of Law coalition, Bahaa Al-Din Al-Nouri, called on the political forces that voted on the exchange rate of the dollar against the dinar to assume their responsibilities before the Iraqi people as a result of the rise in commodity prices and damage to the livelihood of the simple citizen.

Al-Nouri said in an interview with Alsumaria News, “The State of Law Coalition was clear in its position by rejecting a number of articles in the budget, including the exchange rate, and we did not enter the voting session on it, and we had several observations and we asked the Finance Committee and political forces to make some adjustments in order to come out with a budget.” It meets the aspirations of the Iraqi people, “noting that” the only one affected by the exchange rate at which the budget was approved is the simple citizen as a result of the high prices of food and basic commodities. ”

Al-Nouri added, “The political forces that entered the voting session and voted on the exchange rate must bear the responsibility before the Iraqi people as a result of the high prices that have negatively affected the citizen’s livelihood.” Parliament is courtesy of the government in these measures, in addition to the political forces that voted on these measures. ”

He stressed that “the budget, unfortunately, did not include any positives for the simple citizen, as it was devoid of job grades. It also included clear injustice to the central and southern governorates, and did not do justice to the graduates and the sit-downs demanding their fairness,” stressing that “the budget will remain under street pressure, in addition to that we went to challenge some Its materials which we believe are illegal. ”

For his part, a member of the Parliamentary Economic and Investment Committee confirmed Mazen Al-FailyAll the justifications put forward by the government for the sake of raising the exchange rate have ceased to exist and are no longer relevant.

Al-Faili said in an interview with Al-Sumaria News, “The government has previously set reasons to raise the exchange rate and proceeded with its decision in light of these justifications,” indicating that “the first reason is the lack of financial liquidity to pay salaries as a result of the drop in the price of a barrel of oil, as this excuse ended with a rise in prices.” Oil is global to more than what is in the budget, “indicating that” the second justification was to protect the local product, but it was also dismissed after the Cabinet’s decision to open import of agricultural crops that have a local product, including tomatoes and poultry. ”

He continued, “The third justification was an attempt to prevent currency smuggling and fraudulent invoices. When the central bank’s sales decreased, it indicated at that time the results of its decision began to appear, but the truth is that the central bank’s sales at that time decreased due to market price fluctuations and selling it on the black market at a cheaper price than the central bank’s price in addition to the existence of a reserve.” Of the dollar in the banks they used during that period, “pointing out that” the sales of the central bank today returned to the rise after the vote on the budget and the rise in the price of the dollar in the market is higher than the price of the central bank. Those sales will increase further in the coming days until they reach more than 200 million dollars per day. It means the absence of the government’s third justification for raising the exchange rate.

Al-Faili stressed, “All the decisions that the government took in the issue of the exchange rate was a mistake followed by other mistakes, without real treatment with an insistence on not recognizing the mistake and insisting on continuing with that policy that the simple citizen paid for, and it will have more negative consequences in the coming period.”

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