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Economist: Focusing on the growth of foreign financial reserves and neglecting other economic indicators will contribute to the economic backwardness of the country
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[rtl]Baghdad / NINA / The specialist in economic affairs, Hussein Shaker Tahilo, confirmed that the government's focus on the growth of foreign financial reserves and neglect of other real economic indicators (GDP, public debt, interest, employment, unemployment, poverty rate, and net foreign trade) will contribute to the economic backwardness of the country.
In a statement to the Iraqi National News Agency ( NINA ) , Tuhilo said, "The Iraqi government has previously confirmed the policy of changing the exchange rate through the white paper and the budget, that it is a growth in the reserves in the central bank through a decrease in the demand for dollars in the currency auction and controlling money laundering operations ... Etc. Economically, focusing on reserve growth and neglecting other real economic indicators is considered economic backwardness.
He added that "after the 2021 budget was approved, dollar sales in the currency auction witnessed a rise during the past two weeks, 1.016 billion dollars and 973.215 million dollars, respectively, which categorically confirmed that the exchange rate would remain 1450 dinars against the dollar, which led to intense demand by traders for The dollar is not only to meet the needs of the local market, but also to compensate for the shortfall in merchants ’stocks of various commodities, and this demand will continue and may lead to a further increase in the central bank’s sales of the dollar, thus a decline and decrease in the cash reserve. The Iraqi citizen, as it greatly affected his purchasing power. ”/ Ended 8[/rtl]
In a statement to the Iraqi National News Agency ( NINA ) , Tuhilo said, "The Iraqi government has previously confirmed the policy of changing the exchange rate through the white paper and the budget, that it is a growth in the reserves in the central bank through a decrease in the demand for dollars in the currency auction and controlling money laundering operations ... Etc. Economically, focusing on reserve growth and neglecting other real economic indicators is considered economic backwardness.
He added that "after the 2021 budget was approved, dollar sales in the currency auction witnessed a rise during the past two weeks, 1.016 billion dollars and 973.215 million dollars, respectively, which categorically confirmed that the exchange rate would remain 1450 dinars against the dollar, which led to intense demand by traders for The dollar is not only to meet the needs of the local market, but also to compensate for the shortfall in merchants ’stocks of various commodities, and this demand will continue and may lead to a further increase in the central bank’s sales of the dollar, thus a decline and decrease in the cash reserve. The Iraqi citizen, as it greatly affected his purchasing power. ”/ Ended 8[/rtl]
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