Abdul Wahed: Iraq incurs annual losses amounting to $21 billion due to the currency difference
Abdul Wahed: Iraq incurs annual losses amounting to $21 billion due to the currency difference
12/01/2024
In a development that is considered the largest apparent theft in the history of Iraq, the country loses a huge amount of $21 billion annually as a result of currency differences.
The head of the New Generation Parliamentary Bloc, Sarwa Abdel Wahed, wrote in a tweet on the X platform, followed by NRT Arabic, that Iraq suffers from an inability to control the parallel market, which makes the government and the central bank unable or unwilling to eliminate these losses.
Abdul Wahed added that, because Iraq’s oil is sold in dollars, and while the government and the central bank count every 100 dollars as 132 thousand dinars, Iraq is incurring huge losses due to currency differences, as a few influential individuals and companies benefit at the expense of the national treasury.
She pointed out that there are parliamentary demands to stop these obvious thefts that come in the context of its new legislative term, as Parliament must put an end to these practices and work to host all responsible parties to take radical solutions to this financial crisis.
nrttv.com
