Economist: We will witness a major crisis next year if the dollar continues at its current price
Economist: We will witness a major crisis next year if the dollar continues at its current price
2021-07-08
Economic expert Ihsan Al-Kinani stressed, on Thursday, the need for the government to issue a decision to reduce the value of the dollar before holding early elections, pointing out that continuing at the current price will create a major crisis in the next year, especially since after the elections, the authority will be a caretaker.
Al-Kinani said in a statement to “The Information”, that “the economic blockade imposed by the current government will not be changed if elections are held and the dollar exchange rate remains as it is now.”
He added, “Next year may witness a daily caretaker government, which cannot manipulate the budget items or take a decision to change the dollar exchange rate voted on by Parliament until after forming a new government, and this may be delayed for more than 6 months at least.”
Al-Kinani explained, “The dollar exchange rate will exceed the value currently assessed, due to the exploitation of merchants and banks for the presence of the caretaker government, and therefore an economic crisis and a significant rise in prices may be witnessed in Iraq during the next year due to unstudied government measures.”
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