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Economist: Iraq will not stand up to the crisis and the dollar exchange rate will rise after 6 months
08:35 - 31/03/2020
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Economist Salah Al-Zaidi said on Tuesday that [You must be registered and logged in to see this link.] and if the crisis persists, it will not last for long, pointing out that the dollar exchange rates will rise above its normal level and the central bank will lose its control after 6 months of the day in the event of continuing low oil prices.
"The reserves of the central bank amount to 60 billion dollars, but this amount and if it was manipulated, the dollar exchange rate will be affected if the current economic crisis continues," Zaidi said in a statement to "The Information."
He added that "the continued decline in oil prices will lead the central bank to use the cash reserve to cover the market need and the operational budget, and therefore the dollar’s scarcity in the markets will raise its value against the dollar, especially if the current situation continues to more than 6 months."
And that " [You must be registered and logged in to see this link.] should resort to other means to enhance its budget, especially as there are a lot of resources that are not utilized properly, including religious shrines, tourist sites, state properties, agricultural and residential lands belonging to the Ministry of Finance, in addition to housing complexes that could be an alternative to oil imports." 25 n ended
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