An economist says the customs tariff will have serious repercussions and the dinar has lost its value.
An economist says the customs tariff will have serious repercussions and the dinar has lost its value.
1-9-2026
The economic expert ,
Sadiq al-Rikabi, confirmed on Friday that the customs tariff in Iraq is being implemented in an ill-conceived manner, warning that continuing this policy will lead to serious economic repercussions that will directly affect the market and citizens.
Speaking to Al-Maalomah, al-Rikabi said, “The customs tariff does not apply to all merchants. There are two classes of merchants in the market: one subject to the tariff and the other exempt. This creates an injustice and leads to clear disruption in market activity and competition.”
He added, “Customs tariffs are not a primary source of revenue for the state, and the move to maximize revenues through them is a clear economic mistake.” He explained that “the government erred when it did not properly prepare for the implementation of this decision and failed to prepare the market and the economic environment for it.”
He clarified that “implementing the customs tariff in this form will have serious repercussions on prices and the purchasing power of citizens,” noting that “it is unreasonable to continue providing dollars at the subsidized rate to all merchants without clear controls to ensure that the subsidy reaches those who deserve it.”
Al-Rikabi explained that “Iraq does not yet possess a developed banking sector capable of absorbing citizens’ savings,” noting that “citizens do not trust the Iraqi dinar, which they now treat as a commodity with no real value against the dollar.”
He concluded by saying that “the lack of confidence in the national currency and the confused economic policies will lead to further deterioration in financial stability unless genuine and radical reform measures are taken.”
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