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Today, Monday (July 12, 2021), a member of the Parliamentary Finance Committee, Ahmed Hama, considered political calls to change the exchange rate of the dollar against the Iraqi dinar as “election propaganda,” stressing that the exchange rate will not witness any change at least during the current year .
Hama said in an interview with IQ News , that "fixing the current dollar exchange rate or changing it has nothing to do with the budget, given that the current price was applied by the Central Bank in February 2021, while Parliament approved the Federal Budget Law for the current year at the end of March."
He added that "the inclusion of the exchange rate paragraph in the budget is for arithmetic purposes only, given that the budget depends on oil revenues, and those revenues are in dollars, so we needed to include in the budget a paragraph related to the exchange rate for the accounts of the budget ."
And he indicated that "the exchange rate has nothing to do with the budget law, but rather is linked to the decision of the Central Bank," explaining that "a change at the present time is almost impossible on the grounds that this will shake the market's confidence in the bank, as well as the private sector will be the biggest affected ."
He pointed out that "the price change at the present time will cause great losses to contractors and traders, and then who will compensate for those losses."
In early April, the President of the Republic approved the 2021 budget law.
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