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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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Economist: Returning the dollar exchange rate will only reduce commodity prices by 5%!

rocky
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Economist: Returning the dollar exchange rate will only reduce commodity prices by 5%! Empty Economist: Returning the dollar exchange rate will only reduce commodity prices by 5%!

Post by rocky Fri 21 Oct 2022, 5:15 am


[size=30]Economist: Returning the dollar exchange rate will only reduce commodity prices by 5%!


2022-10-21
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Yes Iraq: Baghdad

Today, Friday, the economic expert, Nabil Al-Marsoumi, revealed the futility of re-reducing the price of the dollar, reviewing several reasons that led to the rise in commodity prices globally and not being limited to the exchange rate.
Al-Marsoumi said, in a clarification followed by “Yes Iraq”, that “the increase in the exchange rate of the dollar against the dinar at the beginning of 2021 had a clear impact on the rise in the general level of prices, but it was not the only reason, but there were other reasons, including the Corona pandemic, which led to the closure of the global economy and was damaged.” Supply chains, the high costs of shipping and transportation, the global drought that led to a significant increase in food prices, as well as the rise in energy prices in the world and the Russian-graft war that led to a rise in production costs in most countries of the world that suffer today from inflation and the specter of economic stagnation.
He added: “Therefore, seeking to reduce the price of the dollar against the dinar by 23% for the purpose of bringing it back to its previous level will lead to a small reduction in the level of internal prices in Iraq, which will not exceed 5%,” noting that “because the increase in the price level was not related to a change in the exchange rate only. Rather, it was linked to a set of factors, and the price flexibility is great, but it is limited in going down, and this is a fact that all economists know.”
He shows: "Therefore, it is rare to find an Iraqi economist who supports the idea of ​​returning to the old price due to its high costs and disastrous economic results without leading to a significant reduction in prices and improving the lives of the poor."
Al-Marsoumi stressed that “politicians, if they really care about the poor, should find job opportunities for them through diversifying and developing the economy, improving services, and developing the social protection system instead of morphine, with which they try to numb people by deluding them that their problem lies only in raising the exchange rate of the dollar, and the solution is to restore the price of the dollar.” Exchange the dinar back to what it was.”
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