It revealed a government approach to support vulnerable groups in society... Planning: The annual in

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[size=52]It revealed a government approach to support vulnerable groups in society... Planning: The annual inflation rate is estimated at 3.5 percent...[/size]

[size=45]It revealed a government approach to support vulnerable groups in society... Planning for “Al-Zawraa”: The annual inflation rate is estimated at 3.5 percent, which is low compared to countries in the world.
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Al-Zawraa/ Hussein Falih:
The Ministry of Planning announced that the annual rate of inflation is 3.5 percent, while it confirmed that inflation is at Iraq is low compared to countries in the world, revealing a government trend to support vulnerable groups in society.
The Ministry’s spokesman, Abdul Zahra Al-Hindawi, said in an interview with Al-Zawraa: With regard to inflation, there is great support that may not appear clearly in the picture from the government for many basic goods and commodities that are direct human consumption and specifically the food aspect. Pointing out: The ration card file, which is very important, clearly maintained the stability of prices and even led to their decline in many cases.
He added: The price index for foodstuffs and non-alcoholic beverages has a greater impact on inflation, as it decreased by 0.6 percent for foodstuffs during the month of July. Stressing: If it were not for the existing government support, we would have found prices three times higher due to the rise in global food prices as a result of the Ukrainian war and other global crises.
He pointed out: The rise in prices in Iraq is very slight compared to countries of the world. Noting: The ration card file has a decisive role in stabilizing prices, in addition to the financial coverage of the state’s official exchange rate for all food imports, as it played a major role in the stabilization process and the prices of some materials fell, stabilized, or rose slightly.
He stated: The measures taken by the government or within the Ministry’s plans for the next five years will focus on activating sectors that have a direct impact on the economic reality, such as the agricultural sector, and this is very important in securing the food basket and reducing imports because the greater the volume of imports, the higher the price of inflation, given that there is Hard currency goes abroad. Pointing out: A solid plan has been developed to advance the agricultural sector, and this plan will be translated into measures on the ground.
He explained: The most affected by high inflation are the vulnerable groups in society, so the focus, through the ration card and through the social protection network, was to support these groups and empower them economically, financially, and health-wise. Stressing the need to achieve a state of balance between commodity inflation and monetary inflation.
He continued: This balance is very required if there is inflation on the monetary side, which will lead to an increase in prices. However, if inflation becomes on the commodity side, it will lead to a decrease in prices as the value of the currency rises. Therefore, balance is required with an attempt to achieve a state of commodity inflation until demand decreases and until prices decrease. . Confirming: Annual inflation from July 2022 until July 2023 reached an increase of 3.5 percent.[/size]
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