An Iraqi ministry intends to raise recommendations on changing the dinar exchange rate against the d

[size=52]An Iraqi ministry intends to raise recommendations on changing the dinar exchange rate against the dollar[/size]

[size=45]Today, Thursday, the Ministry of Planning discussed with government agencies and the private sector the implications of changing the currency exchange rate on investment projects.[/size]
[size=45]A statement by the ministry said, "The committee formed under Cabinet Resolution No. 63 of 2021, which will study the consequences of changing the currency exchange rate, held its first meeting at the Ministry of Planning.[/size]
[size=45]She added, "The meeting was chaired by the Technical Undersecretary of the Ministry of Planning, Maher Hammad, and was attended by the Administrative Undersecretary Azhar Hussein Saleh, the President of the Iraqi Contractors Union, Ali Al-Sanafi, and representatives of the Ministries of Electricity, Finance, Housing, Construction, Municipalities, the Central Bank of Iraq and the National Investment Authority."[/size]
[size=45]The Undersecretary of the Ministry of Planning confirmed, according to the statement, that "this committee was formed to study the effects of changing the exchange rate of the dollar against the dinar, and to propose the required solutions, as far as the matter is related to investment projects." To the Council of Ministers for a decision.[/size]
[size=45]Representatives of the parties participating in the meeting presented a presentation of investment projects, methods of contracting with the implementing companies, and mechanisms for payment of the dues of these companies, whether those dues were unpaid debts or unspent advances, and the committee will continue its meetings during the coming days, to develop solutions and proposals required, to address the resulting effects On changing the exchange rate for investment projects.[/size]
[size=45]The Minister of Finance, Ali Allawi, said in a press statement that changing the exchange rate or returning it to its previous era is not possible, because it is a government decision that cannot be changed daily as desired, indicating that “the markets have accepted the current exchange rate and during the coming years it will give incentives to the private sector and strengthen the reserve. “.[/size]
[size=45]After that, a member of the Legal Committee, Representative Hussein Al-Aqabi, considered the statement of the Minister of Finance unsuccessful.[/size]
[size=45]Al-Aqabi said in an interview that “the legislative authority is the authority to decide on financial matters from imposing financial burdens, whether they are fees or taxes, and the recent statement of the Minister of Finance regarding the exchange rate of the dollar is unsuccessful. By the legislative branch. ”[/size]
[size=45]He added that "the position of the Minister of Finance is unsound, negative, unconstitutional and cannot be accepted at all." 30% of what created great economic and financial burdens on large segments of the people.[/size]
[size=45]Al-Aqabi called for "the need to correct the equation by Parliament, as it is a moral obligation to support large segments of Iraqis," stressing "the need for the government to be aware of its legal and constitutional rights and to feel the suffering of millions of poor and simple people."[/size]
[size=45]On Tuesday (March 2, 2021), Minister of Finance Ali Abdul Amir Allawi made new statements regarding changing the exchange rate of the dollar and the 2021 budget, while stressing that the exchange rate cannot be modified.[/size]
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