Financial expert: Iraq’s budget will not be affected by the reduction in the dollar exchange rate
Financial expert: Iraq’s budget will not be affected by the reduction in the dollar exchange rate
2023-02-07 01:00
Shafaq News / An economist and financial expert confirmed today, Tuesday, that Iraq’s budget will not be affected by the reduction of the dollar exchange rate, pointing out that Iraq is able to pay all its debts.
The expert, Hilal Al-Taan, said in an interview with Shafaq News agency, “If the study presented by the Central Bank is approved to adjust the exchange rate of the dollar in the budget, the results will be positive because it will lead to a decrease in the price of the dollar in the parallel market, which in turn will lead to lower prices and stability.” Markets and the preservation of the poor class and their livelihood after they were negatively affected by the rise of the dollar.
He added, “Iraq has a huge budget, and oil is sold at good prices of up to $80, and there is a cash surplus in Iraq, and therefore there is no negative impact on the budget if it is approved.”
And the economist preferred that “the price of the dollar be reduced to 1,350 dinars, within the limits of (10 tigers) in the general budget,” adding that “Iraq is also able to pay all its debts under a good financial shadow that it currently enjoys.”
Yesterday, Monday, the Board of Directors of the Central Bank submitted to the Prime Ministry the results of its study regarding the adjustment of the official exchange rate to the dollar.
And the exchange rate of the dollar rose against the Iraqi dinar in the parallel market to more than 170 thousand dinars compared to 100 dollars at a time when the government was unable to stop this deterioration in the value of the dinar, after the large withdrawal of dollars from the market to smuggle them abroad.
shafaq.com
