Cutebwoy: Member of Parliament on the exchange rate of the dollar: It will continue until this date
Baghdad Today – Baghdad
A member of the Parliamentary Finance Committee, Jamal Cougar, confirmed today, Tuesday, that the current dollar exchange rate adopted by the government in the 2021 budget bill was an emergency option and will continue until another budget bill comes.
“The International Monetary Fund proposed to the Central Bank to raise the price of the dollar to 1600, while the World Bank suggested raising it by 1450, and the government went with this option,” Cougar said .
He added, “It is not possible for the country to remain in constant confusion, through calls for a reduction or restoration of the exchange rate to its previous state. Therefore, the price of the dollar will remain constant until another budget comes.”
He stressed that “everyone should understand that this option was resorted to by the government, forced because the fiscal deficit in the budget bill before raising the exchange rate was 100 trillion dinars.”
Finance Minister Ali Allawi said in an interview with the Iraqi News Agency, “The exchange rate of the dollar is a government decision that cannot be changed daily as desired,” indicating that “the markets have accepted the current exchange rate, and during the coming years it will give incentives to the private sector and strengthen reserves.”
The minister promised to “find stability by paying the salaries of employees on time,” while noting that “the external debts amount to 60 billion dollars and the internal 70 trillion dinars.”