بغداد / NRT
Adviser to the Prime Minister for Financial Affairs, the appearance of Mohammed Saleh, on Monday, that the Iraqi dinar is stable and fears of a collapse of its value against foreign currencies, said.
Saleh pointed out in a press statement today (July 17, 2017), the stable dinar exchange rate against foreign currencies and there are no fears of deterioration of its value, noting that some seek to reduce the Iraqi currency for profit only, as quoted by the agency "Nina" news.
"The reduction of the value of the Iraqi currency by lowering the dinar exchange rate against the dollar has destructive results and will lead to a deepening of the effects of the financial crisis, a new crisis-strong inflation in the general level of prices and giving birth to an inflationary recession inevitably."
And on the external debt and borrowing, Salih stressed that "internal and external borrowing to finance the budget deficit, is not a deflationary process, as some claim, it is a motivational process and expansive fighting deflation and not affect the Iraqi economy."
It is worth mentioning that Saleh had said earlier that the government had borrowed more than 21 billion dinars from the central bank in the past two Almaditien.
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