[size=30]How much did the Al-Kazemi government benefit from raising the value of the dollar? The Finance Committee answers?[/size][You must be registered and logged in to see this image.]
The Finance Committee in the House of Representatives revealed that the government saved by raising the price of the dollar 22 trillion dinars and was likely to achieve half of it to fill the salary deficit, pointing out that the damage to the citizen was from 3 sides.
[size=15]Committee member Jamal Cougar said in a press statement followed by NRT Arabia, Wednesday (June 30, 2021), that “the statements made by some deputies regarding the possibility of the Iraqi economy collapsing because of the dollar are inaccurate , because Iraq is a country rich in its oil resources, and the price of a barrel has reached earlier.” to $20 and the economy hasn't collapsed."[/size]
[size=15]Cougar added, "Current indicators confirm that Iraq is going for the better, and it is not correct to say that we are going to collapse, because it is witnessing on the economic side a recovery through an increase in bank reserves and an increase in oil prices, with government efforts to fight corruption."[/size]
[size=15]He explained, "The responsibility for changing the dollar exchange rate was taken based on the directions of the Central Bank," noting that "the government's move towards raising the dollar's price solved its problems, but it implicated the market and the citizen with the negative aspects of the decision."[/size]
[size=15]Cougar indicated, "The government saved 22 trillion dinars by raising the price of the dollar, and it was required to achieve half of it to fill the salary deficit, and therefore it saved the remaining half at the expense of the citizen."[/size]
[size=15]And he added, "The harm to the citizen from this decision came as Iraq is a consuming country, not a producer, and all goods are from agriculture to industry through import ," noting that "the damage to the citizen was from 3 sides, namely, a decrease in the purchasing power of salaries by 22%, and an increase in the purchasing power of salaries by 22%. Prices, as well as market instability due to conflicting statements regarding the possibility of the dollar returning to its previous position or not .[/size]