Economist: The value of the dinar will decrease and the financial deficit will increase
Economist: The value of the dinar will decrease and the financial deficit will increase
11-6-2024
Information/Special..
Today, Wednesday, economic expert Sadiq Al-Rikabi expected that the Iraqi economy would be negatively affected during the coming period and the value of the dinar would decline as a result of the political and economic changes that the world is witnessing.
Al-Rikabi said in an interview with Al-Maalouma Agency, “Iraq is in an unenviable economic situation in light of the expected decline in oil prices. The United States will depend on its oil, and the industry in China has declined relatively and no longer depends primarily on oil. In addition, the expected improvement in relations between Washington and Moscow will allow Russian oil to return to global markets.”
He added that “Iraq’s failure to diversify its sources of income and its reliance on a rentier economy and fixing the price of a barrel of oil at $70 in the financial budget will lead to a larger deficit and will affect salaries as well as the value of the dinar.”
Recently, Iraqi officials confirmed that the turbulent political and security situation in the region, as a result of the Zionist aggression on Gaza and Lebanon and its repercussions, directly affects the Iraqi economy.
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