Today, Thursday, the Parliamentary Finance Committee resolved the controversy among popular circles regarding restoring the exchange rate of the dollar against the Iraqi dinar to its previous position, stressing that the price is fixed in the draft federal budget law for the year 2022.
Committee member Faisal Al-Issawi told the National News Center website that "reconsidering raising the dollar's exchange rate against the Iraqi dinar, and returning it to its previous position has become impossible."
He stressed that "the dollar cannot be returned to its previous price in the 2022 budget bill," noting that "the Iraqi government has begun to draw up its economic plans in light of the current exchange rate, and therefore the monetary value of the dollar cannot be reduced at all."
He pointed out that "the new dollar exchange rate benefited the government a lot in reducing the budget deficit of 2021, and therefore it became part of the monetary policy."
On (March 31, 2021), the Iraqi parliament voted on the first article of the budget law, which included the adoption of the dollar exchange rate of 1450 dinars per dollar.
The proposal of the first article stipulated calculating the price of a barrel of oil at 65 thousand dinars without mentioning the exchange rate, which leads to fixing the dollar exchange rate as proposed at 1450 dinars per dollar.
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