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Samson: Al-Fath: The new oil prices give the state economic strength, and reviewing the exchange rate is an urgent necessity

17:09 – 05/04/2021

The Al-Fateh Alliance, on Monday, indicated that the oil market has shifted from stagnation to boom and high prices to excellent levels that give the state many economic potentials.

A member of the coalition, Hamid al-Mousawi, said in a statement to Al-Maalouma Agency, that “selling prices have reached levels of 71 dollars per barrel, market recovery and increased demand for it gives the state economic strength that enables it to adapt resources with ease and simplicity.”

He added, “The current oil prices will witness another rise and thus give the Iraqi government the ability to deal with a variable exchange rate and great economic flow and not rely on fixed exchange rates that harm the Iraqi market and the simple citizen.”

He pointed out the need that “the Iraqi government and the Central Bank reconsider the exaggerated exchange rates and develop a new and reasonable study that adapts to the reality of the economic situation in Iraq and is fair to various segments of society.”

Iobey777:  This is very BIG! I believe it is telling us that Iraq will not have a “fixed” rate, but it will adjust according to market value.

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