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Warnings of a high dollar exchange in light of low oil prices
08:59 - 03/05/2020
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Economist Wissam Al-Tamimi warned, on Sunday, against raising the exchange rate of the dollar in government and local banks, pointing out that the orientation towards this option may be beneficial to the country, but it will harm many traders and citizens and raise the prices of goods.
Al-Tamimi said in a statement to / Information /, that "the government may resort to raising the value of the dollar exchange against the Iraqi dinar in order to compensate for its losses as a result of low oil prices."
He added that "the rise in the value of the dollar will create a financial crisis for the citizen and the merchant, especially those who deal in dinars in his local market transactions."
And that "the government has a lot of options in financing the budget through resorting to bonds, state real estate, housing projects, taxes and border outlets, and the creation of new residential areas and the delivery of services to them in exchange for certain amounts that finance the state budget." 25 n ended
Economist Wissam Al-Tamimi warned, on Sunday, against raising the exchange rate of the dollar in government and local banks, pointing out that the orientation towards this option may be beneficial to the country, but it will harm many traders and citizens and raise the prices of goods.
Al-Tamimi said in a statement to / Information /, that "the government may resort to raising the value of the dollar exchange against the Iraqi dinar in order to compensate for its losses as a result of low oil prices."
He added that "the rise in the value of the dollar will create a financial crisis for the citizen and the merchant, especially those who deal in dinars in his local market transactions."
And that "the government has a lot of options in financing the budget through resorting to bonds, state real estate, housing projects, taxes and border outlets, and the creation of new residential areas and the delivery of services to them in exchange for certain amounts that finance the state budget." 25 n ended
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