KTFA: Clare: An economist offers an “ideal” solution instead of devaluing the dollar
Information / special.
Today, Tuesday, the economist, Diaa Al-Mohsen, proposed a solution that he described as “ideal” instead of restoring the exchange rate of the dollar to its previous state, while stressing that restoring it at the present time is not feasible.
Al-Mohsen told Al-Maalouma agency that “the government must revitalize the economy and important sectors such as agriculture and industry instead of restoring the exchange rate to what it was,” noting that “the step of returning it at the present time may cause a major shock that may exceed what happened in 2021.”
He added, “There is a large abundance of foreign currencies through which the government can revive the Iraqi economy,” pointing out that “there is a lot of manpower that can be invested in these projects, which may generate additional financial revenues, and these are ideal solutions.”
The economist explained, “Returning the exchange rate of the dollar at the present time is not feasible, given that there are no real economic justifications that give importance at the present time.”
And that “the central bank’s responsibility is to control the market and on the grounds that the Iraqi economy is market and whoever controls the exchange rate of the dollar is supply and demand and nothing else.”
Earlier, a member of the House of Representatives, Mortada Al-Saadi, confirmed to / information / that “there are parties that are still seeking to reduce the price of the dollar in the new budget before its approval,” stressing that “the file of partially reducing the price of the dollar is what hinders the approval of the general budget in the coming period.” .
The file of approving the federal budget and restoring the exchange rate of the dollar continues in the corridors of the new government, which draws the people’s attention towards them due to their great importance and direct impact on the livelihood of the Iraqi people. LINK
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