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[size=36]Calls to encourage national industry and control the parallel currency market[/size]
Economie| 09:33 - 06/16/2021
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Baghdad - An economic press release, a
member of the Iraqi Economic Council, Ghadeer Al-Attar, called on the government, on Wednesday, to support the local product in a successful way, by encouraging the national industry and controlling the parallel currency market.
Al-Attar said, in a statement received by Mawazine News, that "the government should exempt raw materials entering the local industry from tax customs duties to encourage industry and national production, especially those used in production at a rate of no less than 40 percent."
He pointed out that "the continuous rise in the exchange rate of the dollar against the dinar contributes to the recovery of the importer and raises the prices of locally manufactured materials, which leads to an increase in the financial burden on the citizens."
Al-Attar stressed "the need to control the exchange rates of hard currency in the parallel market for currencies in the capital, Baghdad, to reduce the effects of the harm of frequent price changes."
The currency exchange rates during the last few period amounted to 152 thousand dinars per $100 bill in the local markets, while the Central Bank of Iraq sells the 100 dollars at a price of 145 thousand dinars.
member of the Iraqi Economic Council, Ghadeer Al-Attar, called on the government, on Wednesday, to support the local product in a successful way, by encouraging the national industry and controlling the parallel currency market.
Al-Attar said, in a statement received by Mawazine News, that "the government should exempt raw materials entering the local industry from tax customs duties to encourage industry and national production, especially those used in production at a rate of no less than 40 percent."
He pointed out that "the continuous rise in the exchange rate of the dollar against the dinar contributes to the recovery of the importer and raises the prices of locally manufactured materials, which leads to an increase in the financial burden on the citizens."
Al-Attar stressed "the need to control the exchange rates of hard currency in the parallel market for currencies in the capital, Baghdad, to reduce the effects of the harm of frequent price changes."
The currency exchange rates during the last few period amounted to 152 thousand dinars per $100 bill in the local markets, while the Central Bank of Iraq sells the 100 dollars at a price of 145 thousand dinars.
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