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[size=36]The central bank determines the remedies for the repercussions of raising the price of the dollar[/size]
Economie| 11:37 - 13/04/2021
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BAGHDAD - Mawazine News:
The Central Bank of Iraq identified, on Tuesday, the remedies for the repercussions of raising the price of the dollar, and supporting the ration card items by emphasizing the need for government support for local industry and agriculture.
The deputy governor of the Central Bank, Ihssan Shamran Al-Yasiri, said, according to the official agency, that "one of the demands of the World Bank during the negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs and levies and financing part of the financial savings achieved for the benefit of the vulnerable classes," stressing that " The need to improve the ration card items to reduce the damage caused by adjusting the exchange rate.
Al-Yasiri added, "It is possible to improve the ration card items by fighting corruption, and to reduce the waste of Iraqi funds in corrupt deals, because most of the ration items are national production such as rice, sugar, flour, oil and tomato paste," pointing out that "the government can invest the initiative to amend The exchange rate through more support to the local industry and agriculture after it obtained a competitive advantage of more than 23% against the importer of the products, and thus the importer is facing difficulty in competing with the local product. "
He continued, "The World Bank has suggested to the Central Bank of Iraq to amend the dollar exchange rate to 160 thousand dinars per 100 dollars, as it is the real price that the local market can settle upon compared to neighboring countries," indicating that "
The Central Bank of Iraq identified, on Tuesday, the remedies for the repercussions of raising the price of the dollar, and supporting the ration card items by emphasizing the need for government support for local industry and agriculture.
The deputy governor of the Central Bank, Ihssan Shamran Al-Yasiri, said, according to the official agency, that "one of the demands of the World Bank during the negotiations to raise the exchange rate of the dollar is to reform the public financial departments, which are taxes, customs and levies and financing part of the financial savings achieved for the benefit of the vulnerable classes," stressing that " The need to improve the ration card items to reduce the damage caused by adjusting the exchange rate.
Al-Yasiri added, "It is possible to improve the ration card items by fighting corruption, and to reduce the waste of Iraqi funds in corrupt deals, because most of the ration items are national production such as rice, sugar, flour, oil and tomato paste," pointing out that "the government can invest the initiative to amend The exchange rate through more support to the local industry and agriculture after it obtained a competitive advantage of more than 23% against the importer of the products, and thus the importer is facing difficulty in competing with the local product. "
He continued, "The World Bank has suggested to the Central Bank of Iraq to amend the dollar exchange rate to 160 thousand dinars per 100 dollars, as it is the real price that the local market can settle upon compared to neighboring countries," indicating that "
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