Economist: Oil prices did not leave the government any excuse to continue raising the value of the dollar
Economist: Oil prices did not leave the government any excuse to continue raising the value of the dollar
08:34 – 17/06/2021
Information/Baghdad.
The economic expert, Ihsan Al-Kinani, confirmed, on Thursday, that the government no longer has a justification or pretext to continue raising the dollar exchange rate in the local markets, as the price of a barrel of oil reached 74 dollars, requiring it to end its siege on the people.
Al-Kinani said in a statement to “The Information”, that “Parliament must say its word to oblige the Ministry of Finance or the Prime Minister to take a decision to reduce the exchange rate of the dollar in the local market.”
He added, “The exchange rate of $100 exceeded the 150,000 dinars, at a time when the price of a barrel of oil reached $74, more than the price set in the budget by about $30.”
Al-Kinani explained, “The government does not have any justification to continue with the current approach that imposed a siege on the people, as the price of a barrel of oil in the budget should be adjusted and made at the barrier of 60 dollars per barrel, with the reduction of the dollar exchange rate to 125 thousand, as this reduction will preserve profits. The government will not lack anything.” finished /25 n
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