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On Saturday, Representative Hussein Habib identified the most important ways to end the dominance of the dollar in Iraqi markets.
Habib said in an interview with “Al-Ma’louma”: “There are several steps to end the dominance of the dollar in Iraqi markets, the most prominent of which is reviving the national industry in all its dimensions in order to fill the large void in the import balance, especially since the largest percentage of the markets’ needs depend on abroad, even for the simplest matters.” , including agricultural crops.
He added, “Restoring industry and agriculture according to a vision that includes three dimensions: sufficiency and developing production to achieve leaps in the balance of exports and imports will reduce dependence on the dollar at high rates, and thus ensure an end to its dominance. However, the matter requires comprehensive dimensions, the most prominent of which is providing means of support for the advancement of industry and agriculture.” Reducing financial burdens from taxes and offering their exemption contributes to attracting capital and internal and external investments.”
He pointed out that “reviving the industry does not stop reducing the dominance of the dollar, but rather providing great job opportunities, especially since the economic conditions have created armies of the unemployed in most Iraqi governorates.”
The rates of circulation of the dollar in Iraqi markets in repaying debts are very high, making it a source of pressure in setting prices.
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