The request to restore the dollar’s ​​exchange rate to its normal state is facing refusal

[size=52]The request to restore the dollar’s ​​exchange rate to its normal state is facing refusal[/size]

[size=45]Baghdad / Firas Adnan[/size]
[size=45]According to members of the Parliamentary Finance Committee, they spoke to Al-Mada yesterday, Sunday.[/size]
[size=45]While noting that the exchange rate has been determined according to scientifically studied considerations and is consistent with the monetary policy of the Central Bank, they emphasized that the budget figures of expenditures and revenues have been developed on its basis.[/size]
[size=45]A member of the committee, Representative Jamal Cougar, says that "a movement is led by a number of representatives, by collecting signatures to amend the dollar exchange and make it 1,300 dinars."[/size]
[size=45]And Cougar continued, in an interview with (the range), that "the request has been submitted to the Finance Committee, but the question is: Does the House of Representatives or any of its committees have the authority to amend the exchange of the dollar?"[/size]
[size=45]He pointed out, "The answer is according to the law, that the authority is exclusive to the Central Bank only," and believes that "this campaign targets the request from a party that does not have jurisdiction, and therefore the request is destined to respond."[/size]
[size=45]And Cougar said, "The Central Bank is an independent body and has a special law and bears full responsibility in the issue of monetary policy and determining the dollar exchange."[/size]
[size=45]He stressed, "The federal government, represented by the Ministry of Finance, adopted the Central Bank’s decision and was not the one with the jurisdiction to issue it, and the existence of coordination and consultation between the two sides does not mean interference."[/size]
[size=45]Cougar stressed, "The attempt by some MPs to impose a new exchange rate, contrary to the Central Bank's vision, is a clear violation of the law and cannot be accepted."[/size]
[size=45]He continues, "The change of the exchange rate and its increase came as a result of the economic conditions that Iraq went through, because we went last year to two laws to borrow, at a time when oil prices were very low."[/size]
[size=45]Cougar explains, "The current claims came as a result of the recovery in oil prices, but he responds to this trend by saying that what is the guarantee of the survival of this rise?" Until the end of this year. ”[/size]
[size=45]A member of the Finance Committee promised that "the current increase in oil prices is not realistic. Rather, it came as a result of Saudi Arabia giving up one million barrels of its share, and it has the full right to reconsider its previous decision, and this will lead to a new decline."[/size]
[size=45]Cougar revealed, "A significant decline in bank reserves forces a recharge at the present time, and this means that we need this rise in the exchange rate."[/size]
[size=45]And he goes on, that "the budget revenues we get on all days of the fiscal year, but the expenditures are spent during the first quarter of it, and this puts us in front of a constant need for liquidity."[/size]
[size=45]Cougar went on to say, "All budget funds have been determined according to the current exchange rate, because we depend for revenues on oil revenues, which are in dollars, and it is also not possible to make an adjustment that brings us back to zero."[/size]
[size=45]In turn, another member of the committee, Representative Shirwan Mirza, stated, in a statement to (the extent), that "the demands submitted by MPs from different blocs to change the exchange rate of the dollar against the Iraqi dinar have no legal obligation or effect."[/size]
[size=45]Mirza continued, "The law assigned the task of determining the price of the dollar to the Central Bank, and it is a jurisdiction that can not be contested by any party, whether the executive authority represented by the government or the legislative authority represented by the House of Representatives."[/size]
[size=45]And he finds, "Determining the current price came according to precise scientific considerations, and depends on the financial policy of the Iraqi government, and it cannot be changed."[/size]
[size=45]Mirza added, "Our powers in the budget are defined by the constitution, which are reducing all public expenditures, or transferring between chapters mentioned in the law, and that reducing the exchange rate will burden the state with financial burdens while it is beyond our powers.[/size]
[size=45]He called, "all political blocs to understand the current financial and economic situation of Iraq, and to deal with it positively, and not to resort to unconstitutional amendments."[/size]
[size=45]Mazer concluded, “The Finance Committee has succeeded, through its dialogues with all government and official agencies, in making the budget austerity, after it reduced, in large proportions, the volume of expenditures and reduced the deficit rates, and in return it contributed to a clear increase in revenues, but on the issue of the dollar it cannot Interfering with it ”.[/size]
[size=45]The National Approach list, which is one of the blocs in support of the parliamentary campaign, confirmed in press statements that opponents of the current rate will not vote on the budget law unless the dollar is restored to its previous state.[/size]
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