Shafaq News / The Iraqi government expressed, on Sunday, its hope that the launch of budget funds will contribute to reducing the price of the dollar in the parallel market, while acknowledging that currency speculators have long experience and fraud methods dating back to the 1990s.
“The launch of the budget certainly means the availability of funds, so the money will be launched towards ministries, departments and general directorates in the provinces, independent bodies and all state institutions, and this means that there is great cash liquidity,” the government spokesman, on behalf of Al-Awadi, told Shafaq News.
Al-Awadi added that “many financial advisers in the government, hoping with the launch of the budget funds, that next month will be a contributing factor in the decline in the dollar exchange rate, in a very large extent.”He pointed out that “the recent rise in the exchange rate came as a result of the decisions taken to prevent 14 Iraqi banks from dealing in dollars, as this reflected negatively on the market, in addition to the way speculators perform in the currency.”
Al-Awadi pointed out that “the Iraqi government’s procedures have been clear for five months until the moment, and the exchange rate is fluctuating between the rise and downs, but the government is serious about these procedures and has a certain plan.”
He explained that “price speculators have a long experience since the 1990s, and they move in a way that has a lot of experience and fraud, and yet the government’s program is clear according to the plan of the Central Bank, banks and traders, to correct work to go towards the buying and selling trade through the Central Bank in the right ways.”
The spokesman for the Iraqi government concluded that “the government deals with speculators in dollars according to the law, and this needs legal procedures from the movement of economic security and the state in this direction.”
Government statements contradict, with economists, that the dollar exchange rate will settle at its current rates in the parallel market that exceed the barrier of 150 thousand dinars for every $100.
Over the past few months, attempts by the Central Bank of Iraq have failed to control the parallel market of the currency, subjecting the exchange rate and returning it to the official price of 1320 dinars per dollar.
https://shafaq.com/ar/اقتصـاد/حكومة-السوداني-تقر-بخبرة-مضاربي-الدولار-وتعول-على-يلول
