Economist: The new government has a golden opportunity to reduce the dollar exchange rate
Economist: The new government has a golden opportunity to reduce the dollar exchange rate
10-14-2022
Information / Baghdad…
The economic affairs specialist, Muhammad Al-Saadi, confirmed that the new government has a golden opportunity to reduce the exchange rate of the dollar in the local markets and raise the value of the Iraqi dinar, pointing out that all conditions are prepared for this measure.
Al-Saadi told “The Information”, “Iraq has achieved a great financial abundance after the significant rise in international oil prices, which raised the central bank’s reserves to more than 80 billion dollars.”
He added, “The increase in oil prices and cash reserves will enable the new government to gradually reduce the dollar exchange rate during the next stage, as this is considered one of the first decisions that can serve the people.”
And he indicated that “there is an appropriate ground to attract foreign investments to establish oil refineries in the governorates and work on the export of derivatives and thus return to the country with large revenues, as well as achieving self-sufficiency in derivatives, and in sum, the government’s high exchange rate achieved can be achieved through other doors.” finished 25
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