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[size=30]Finance identifies 3 reasons that prompted the increase in the price of the dollar
2021-11-14
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Yes Iraq: Baghdad
Today, Sunday, the Ministry of Finance explained the reasons for adopting a new exchange rate for the US dollar against the local currency, noting that this came to supplement national production, protect the central bank’s reserves, and support the budget.
The finance said in a statement that it had borne, during the past three years, the burdens of a stifling financial crisis that threatened the state's ability to fulfill its obligations that were already burdened by a large legacy represented by the inflation rate of public spending and the rise in the wage bill, which threatened to secure the salaries of its employees, in light of a sharp drop in international oil prices and a healthy situation. Dangerous due to the consequences of the Corona pandemic on the national economy and its repercussions on the economic reality and the social fabric.
The Ministry of Finance indicated that the general budget continues between the need for a wise public financial management with its obligations to ensure the protection of the weakest and most needy groups.
She pointed to the international community's support for the policies of the Ministry of Finance, noting that both the International Monetary Fund and the World Bank approved public financial management under very difficult circumstances.
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