An important clarification from Al-Kazemi’s advisor regarding the value of the “dinar”

An important clarification from Al-Kazemi’s advisor regarding the value of the “dinar”

FRI, 06-25-2021,PM 4:04

10K Iraqi Dinar notesToday, Friday, the Prime Minister’s Advisor for Financial Affairs, Mazhar Muhammad Salih, determined the rate of rise in the inflation rate in the country.

Saleh said, in statements to the official agency, that “the improvement in the value of the Iraqi dinar is related to the ability of the economy to grow if significant growth is achieved in the economy and not rentier growth,” noting that “expectations indicate a current growth of 2.5%, and this growth parallels the growth of the real population.” .

He added that “this needs proper development, reducing unemployment, increasing job opportunities, and flourishing investment projects, which encourage and generate income that compensates for oil, and gives sustainability in returns, and sustainability with the strength of the economy,” noting that “there are two important things, the first is monetary policy that maintains On the stability of the exchange rate, and create a stable environment for a long period, and the second is to support investment projects for development and achieve growth, because without growth the situation will be bad.”

Regarding the rate of inflation, Saleh explained that “there are two types of goods, tradable goods, most of which are imported and linked to the exchange rate, and non-tradable goods, which are local such as services and others,” stressing that: “If we collect tradable and non-tradable goods, we will find Inflation did not increase more than 6%, and therefore it is considered reasonable and controlled in comparison with the significant devaluation of the dinar.