Economic: Approval of the budget will mitigate the effects of the dollar crisis
Economic: Approval of the budget will mitigate the effects of the dollar crisis
1-24-2023
Information / special..
The economic expert, Salam Sumaisem, confirmed, on Tuesday, that the approval of the general budget law will reduce the burden on the Iraqi economy, while she indicated that the speculations of the dinar depreciation crisis against the dollar affected the Iraqi economy.
Sumaisem said in an interview with the information agency, “The approval of the general budget law will work to reduce the burden on the Iraqi economy,” noting that “the budget will ensure the subtraction of wages and salaries of employees and state expenditures, as well as adding allowances for employees in the public sector.”
And she pointed out that “the crisis of the high exchange rate of the dollar affected the Iraqi economy in the current period, which made the latter need to be revived through the approval of the general budget,” stressing that “passing the budget law will enable the economy to absorb the crisis that occurred.”
And she noted that “investments will move after the budget is approved, which will greatly stimulate local markets and reduce the impact of the dollar on the economy,” noting that “there is great pressure on the latter due to several factors, most notably the imbalance of dollar prices in the current period.”
The local markets in Iraq witnessed, after the crisis, the rise in the dollar exchange rate, a great stagnation and an almost complete paralysis in the movement of commercial exchange between citizens, in addition to the inflation that occurred in the prices of goods and services.
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