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The dollar exchange rate will stabilize with the broader launch of the budget
The first 12/28/2023
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Baghdad: Shaima Rasheed
The Parliamentary Finance Committee explained the decline in the dollar exchange rates against the Iraqi dinar to the citizen’s fear of the fluctuation occurring, which is related to the budget and the government’s spending of it after it stopped it before the local elections, while it considered the government’s shift towards electronic dealing at the beginning of next year to be a positive thing.
Committee member, Jamal Cougar, said in an interview with “Al-Sabah” that the dollar is supposed to witness a further decline when it is exchanged against the Iraqi dinar, especially with the start of greater budget disbursement, in addition to the government’s announcement of the direct implementation of the electronic system with the start of the new year, which will limit From financial dealings in dollars.
He added that the current exchange rate in the market is not real and that part of it is due to the fear of rise or fall because the real price is determined by the criterion of need, noting that we do not have a real ceiling for need, as part of it is speculation and the other is smuggling and others, and the real price remains unknown because there are no solid financial institutions that speak. About import and export.
Koger pointed out that the government did not spend the budget so that it would not be exploited in the local elections by parties and candidates at the time, calling on the government to start spending the budget more than it was spending in order for the market and exchange rate to stabilize.
Edited by: Adhraa Juma
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