[size=36]The Minister of Finance announces the completion of the preparation of the 2022 budget and comments on the exchange rate change[/size]
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The Ministry of Finance, Ali Abdul-Amir Allawi, announced, on Thursday, the completion of the preparation of the 2022 budget, revealing the date of its presentation in the Council of Ministers.
Allawi said, "Iraq's financial policy during a year and a half went through five exceptional circumstances, and we entered the beginning of the government's work without any financial safety valve."
He added, "The Iraqi economy has changed since 2019, the obligations of the previous government, and the Corona crisis led to the collapse of oil prices and increased unemployment. We worked as a government policy to control expenditures that were reflected in state revenues, and that the process of changing the exchange rate was not easy."
He continued, "The dollar exchange rate should have been changed years ago, which reflected something beneficial to reform the economic system. Our fiscal and monetary policy is reformist and must continue."
He pointed out, "Our fiscal policy aims at balancing oil and maximizing other resources, and we have started correct reform work, starting with banks and customs, and we have come out safely from the difficult economic situation."
The Minister of Finance said, "The preparation of the 2022 budget has been completed, and it will be presented within 3 weeks to the Council of Ministers."
He pointed out, "The exchange rate reflects many issues and its rise is beneficial to some economic sectors," stressing that "the Kurdistan region has not implemented its obligations regarding the payment of oil prices."
The Minister of Finance stressed that "the improvement in oil prices does not solve the financial distress quickly due to internal and external debts." Ended 29/A43