113 deputies file a request to reduce the value of the dollar and are preparing to host the governor

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[size=52]113 deputies file a request to reduce the value of the dollar and are preparing to host the governor of the central bank[/size]

[size=45]About 113 deputies signed a request to add paragraphs to the draft budget law, including obligating the government and the Central Bank to reduce the value of the dollar.[/size]
[size=45]The signatories wanted to include the draft federal budget law for 2021, reducing total spending to 90 trillion dinars, operating expenses to be 82 trillion dinars, and investment 8 trillion, as well as reducing the exchange rate to 1300 dinars per dollar.[/size]
[size=45]Mazen Al-Faily, a member of the Parliamentary Economic and Investment Committee, said in a statement to (Al-Mada) that "there are 113 deputies who signed a request to amend the exchange rate of the dollar proposed in the federal budget and submitted it a few days ago to the Parliamentary Finance Committee," considering that "this movement is within the legal and constitutional procedures. The natural guaranteed to the House of Representatives. ”[/size]
[size=45]"The justifications for raising the exchange rate have become inappropriate and unrealistic after the high price of a barrel of oil on world markets," Al-Faili added, stressing that "the current dollar price has a great impact on citizens."[/size]
[size=45]A member of the Parliamentary Economic and Investment Committee confirms that "after taking the measure to raise the value of the dollar, consumer goods rose and the value of salaries was affected compared to the high prices, and thus this led to an increase in poverty and deprivation," considering that "these measures are among the worst economic solutions."[/size]
[size=45]The Central Bank of Iraq had announced on 19 December last, raising the exchange rate to 1450 dinars to the dollar, after the previous price was 1190 dinars per dollar, which caused a state of severe confusion in the local markets.[/size]
[size=45]The government attributed that measure, at the time, to its attempts to implement the provisions of the "white paper" for economic reform, stimulating local industry and agriculture, as well as overcoming the economic crisis the country is going through. However, observers and economists attributed these measures to the government's attempt to reduce the deficit in the public budget. To be able to pay employees' wages after devaluing the local currency.[/size]
[size=45]A member of the Human Rights Commission, Ali Al-Bayati, said, two days ago, that 13 million people from the country suffer from poverty and get the equivalent of two dollars a day.[/size]
[size=45]The MP from Wasit Governorate called the Parliamentary Finance Committee to make "adjustments to the dollar exchange rate in the budget to oblige the government to reduce it in the markets as it was in the past after the high oil prices exceeded sixty dollars per barrel."[/size]
[size=45]For his part, MP Abdul Salam Al-Maliki, another member of the Parliamentary Economic and Investment Committee, considered that "the step of raising the dollar exchange rate is one of the central bank's responsibilities."[/size]
[size=45]But he said in a statement to (range) that "there is consensus within the House of Representatives to reduce the exchange rate of the dollar," stressing that the current price has an impact on "the market and the citizen."[/size]
[size=45]Al-Maliki points out that "Parliament is divided between those who demand to reduce the exchange rate and return it to what it was previously, and those who are in line with the government's monetary policy as it achieves profit or large financial resources (25 to 30 billion dinars) that belong to the state treasury."[/size]
[size=45]The Parliamentary Finance Committee responded, last week, to the requests of members of Parliament regarding changing the price of the dollar in the budget law. And she confirmed that the price is fixed according to what is specified by the government.[/size]
[size=45]And the deputy indicated that "whoever sets the monetary policy and who is concerned with it is the central bank, and therefore there is a demand to host the governor of the Central Bank in the House of Representatives to clarify the details of the implications of raising the price of the dollar and its returns on the economic reality", expecting that "hosting will be next week."[/size]
[size=45]And stresses that "the exchange rates will remain as they are and their current status without any change at the present time."[/size]
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